Chrysler’s White Knight (Fiat) also asking for government aid—hey I have been fooled—BBC made a mistake-- this is 2002

The BBC says that Fiat is talking to Italian government for a bailout:

http://news.bbc.co.uk/2/hi/business/default.stm It is no longer there, the BBC caught their error.  Here is what was there.

Berlusconi mulls Fiat aid

Any bailout would be conditional, Mr Berlusconi says

The Italian government might bail out the country's troubled industry group Fiat, Prime Minister Silvio Berlusconi has said.

Fiat is the most important privately held company in Italy

Silvio Berlusconi
Italian Prime Minister

"The government is available to examine the possibility of taking measures for Fiat," Mr Berlusconi said.

His words of hope came a day after the indebted loss-maker said it would lay off 2,800 workers at its car making unit Fiat Auto.

The company blames large losses at its car making unit for its troubles.

Friday meeting

Italy's Labour Minister Roberto Maroni and Fiat executives are set to hold meetings on Friday.

Fiat Auto's cars are not as popular as they used to be

"If necessary, we would intervene," Mr Maroni told the Italian news agency Ansa ahead of the meeting.

"Fiat is the most important privately held company in Italy, and therefore we sincerely hope that Fiat... will be able to recover quickly," Mr Berlusconi said.

But any bailout from the government would be conditional to ensure that "such actions don't violate free market competition," Mr Berlusconi said.

Angry workers

Fiat Auto's job cuts, most of which will go from plants around Turin, came the day after the firm revealed losses of 529m euros (£161m; $235m) for the first three months of 2002.

Wednesday's statement followed a meeting with union leaders, who had reacted angrily to the lay-offs, pledging industrial action.

The job cuts are the latest in a series of measures Fiat has sought to trim losses which have widened from the 16m euros reported for the first three months of 2001.

The firm on Tuesday said it hoped to raise at least 1bn euros altogether from selling shares in Ferrari and in the tractor maker CNH Global.

Sorry for this false alarm.   BILL

Wall Street Journal: Stimulus Update and State by State Comparison

Take a look here to see the state by state break down.

http://online.wsj.com/article/SB123307183916519783.html

 

The per capital figure on the charts are very interesting. 

http://online.wsj.com/public/resources/documents/info-STIMULUS0109.html

Chicago Area Homes Have Large Decrease in Value

This recent article from  the Tribune won’t help you appeal your taxes—you need proof before  December 31, 2007.  This talks of the decrease between November 2007-November 2008.  See the above postings on the forms and actions one needed to appeal tax assessment.  Remember it actually too late to appeal this year’s taxes (unless you have already completed and submitted the forms)  We are just going through the process in preparation for the next tax year so everyone understands next year.

 

Chicago home prices have largest monthly fall on record

By Mary Ellen Podmolik | Tribune staff reporter

9:44 AM CST, January 27, 2009

Another measure of the housing industry's ill health was released Tuesday, this one showing record rates of annual price declines in 11 of the nation's 20 metropolitan housing markets.
The 20-city S&P/Case-Shiller Home Price Index released Tuesday tumbled by a record 18.2 percent from November 2007, the largest decline since its inception in 2000. The 10-city index dropped 19.1 percent, tied with October for the biggest drop in its 21-year history.
Both indices have recorded year-over-year declines for 23 straight months. Prices are at levels not seen since February 2004.
Housing prices in the Chicago area posted the largest monthly decline on record, falling 2.8 percent in November, after a 1.6 percent drop in October, according to the S&P/Case-Shiller Home Price Indices.

On an annualized basis, area home prices fell 12.5 percent, yet the local market continued to fare much better than Detroit, Las Vegas, Los Angeles, Phoenix and key Florida markets.
Fourteen of the 20 metropolitan areas surveyed had November year-over-year price declines of more than 10 percent.
"The freefall in residential real estate continued through November 2008," said David Blitzer, chairman of S&P's Index Committee.
Prices in the 20-city index have plummeted 25.1 percent from their peak in July 2006. The 10-city index has fallen 26.6 percent since its peak in June 2006.
All 20 cities recorded year-over-year declines in November.

Rep. Manzullo attempts to place his new car credit as an amendment to Stimulus Plan

Manzullo Continues Pushing Car Purchase Credit in Washington

The press release below was sent by 16th District Congressman Don Manzullo:

Manzullo to Offer Tax Credit for New Vehicle Purchases as Amendment to House Stimulus Bill

(WASHINGTON) As the U.S. House prepares to vote this week on a flawed $825 billion bill that does little to put Americans back to work, Congressman Don Manzullo (R-IL) is offering an amendment to stimulate the economy and create jobs by giving Americans a $5,000 tax credit to purchase a new vehicle.
With 13 million Americans employed by the automobile industry and its suppliers, Manzullo’s tax credit amendment – which he offered as a stand-alone bill (The Get America Moving Again Act -- HR 550) earlier this month – would immediately stimulate vehicle sales and put millions of Americans back to work. The automobile industry accounts for 20 percent of all U.S. retail sales, and billions of dollars in state and local sales taxes.
The drop in U.S. vehicle sales from 16.2 million in 2007 to 10.5 million in 2008 removed $175 billion directly from our economy and has been one of the leading causes of America’s economic downturn and huge job losses.
“The current stimulus bill is chocked full of spending that has nothing to do with stimulating the economy or creating jobs, including hundreds of millions of dollars for contraceptives, the National Endowment for the Arts, and laying new sod on the National Mall,” Manzullo said.
“My vehicle tax credit proposal is a real stimulus that will bolster vehicle sales, put Americans back to work, and re-ignite our economy. I urge my colleagues to support this amendment so we can get America moving again.”
Manzullo is scheduled to testify later today before the House Rules Committee to seek approval to offer his amendment for a vote on the House floor tomorrow. The Rules Committee determines whether amendments are allowed to proceed to the floor for votes.
The Get America Moving Again Act of 2009 (HR 550) would bolster American manufacturing and spur vehicle sales and production by giving Americans tax credits of $5,000 to purchase a new vehicle costing less than $50,000 and $2,000 to purchase a late model used vehicle through Dec. 31, 2009.
The bill is co-sponsored by Rep. Fred Upton (R-MI), co-chair of the House Auto Caucus, and is supported by the American International Automobile Dealers Association and Chrysler.

James Hursh is now running for Judge

Judicial Candidates for Associate Judge Position Announced

The Administrative Office of Illinois Courts announced the following certified list of candidates who have applied to fill the vacant associate judgeship in the 17^th Circuit:

Ronald A. Barch                         James P. Hursh                         Charles J. Prorok

Lawrence M. Bauer Joseph B. Kosek Michael W. Raridon

Susan M. Brazas Gary L. Kovanda Ruth E. Robinson

Wendell Coates                         Francis M. Martinez                    Bradley J Schreiber

Gregory E. Cox Robert Montgomery Paul R. Vella

Mary J. Gaziano Philip J. Nicolosi Glen R. Weber

Mary L. Green Frank A. Perrecone Robert R. Wilt

Douglas R. Henry

The Circuit Judges of the 17th Circuit are inviting written comment regarding these candidates from all interested individuals and organizations. Comments must be in letter format and received by the Chief Judge no later than 5:00 p.m. on January 30, 2009. Letters may be sent via U.S. mail, fax, or e-mail to perickson@co.winnebago.il.us. This e-mail address is being protected from spam bots, you need JavaScript enabled to view it    Anonymous letters will not be accepted. Letters will be placed in each of the candidate's files. There shall be no other direct or indirect contact with any Circuit or Associate Judge regarding an individual’s candidacy.

Anyone wishing to comment should direct their letters to Chief Judge Janet R. Holmgren, Winnebago County Courthouse, 400 W. State Street, Rockford, IL 61101.