• The new union deal will save $500 million in annual labor costs.
• In exchange for incentives, creditors agreed to eliminate $10 billion in debt owed by the company – another big cost saving.
Ford may be able to benefit by using GM and Chrysler as a pattern for its own efforts to cut costs
Ford doing better than GM and Chrysler, but still not very well | csmonitor.com
There are currently 24 locals – local chapters affiliated with the Illinois Green Party – and DeKalb County will be breaking away from a bigger local, the Northwestern Illinois Greens comprised of Boone, Carroll, DeKalb, Jo Daviess, Lee, Ogle, Stephenson, Whiteside and Winnebago counties.
by Paul Kiel, ProPublica - April 24, 2009 1:50 pm EDT
As we say [1], another day, another bailout. The Treasury disclosed today that it had loaned out an additional $2 billion to General Motors, bringing GM’s grand total [2] to $16.83 billion. This is money to keep GM up and running while it nears its June 1 deadline. At that point, GM will either have restructured and proven to the administration that it can remain viable or face bankruptcy.
This seems unlikely to be the last time GM returns for more—the company has sought as much as $5 billion in additional loans [3] (which would bring its total close to $20 billion).
Falling tax revenue and corporate donations have caused Elgin to eliminate or cut back many of the city's most cherished summer and fall festivals. But in other Elign area towns, while the recession has planners wary, festivals remain on track for a 2009 repeat.
Local fests will go on, despite the recession :: The Courier News :: Local News
.09 of one per cent is the margin of victory
It's official: ECC bond plan passes by 35 votes :: The Courier News :: Local News
Stress Test Results—May 1—A new meaning to May Day—Lenin would be proud.
Next Friday is going to be a big day for our bailout database [1]. That’s when the Treasury will release the results of its “stress tests” on the nation’s 19 biggest banks.
Click on the following for further details: Fed Releases Stress Test Guidelines - ProPublica
A way around the filibuster:
an obscure procedure known as a reconciliation on a health care bill, allowing health care legislation that meets budget targets to be approved by a simple Senate majority.
House and the Senate first agree on an overall budget blueprint and then pursue legislation, “reconciling” the blueprint with the needed policy changes. If enough Senate Democrats support the legislation, the White House would not need a single Republican vote.
Read the rest of the story: Democrats’ Budget Deal Sets Up Fight on Health Plan - NYTimes.com
