Archive for December, 2009
Toyota tops the list for most recalls in 2009
The Detroit Free Press reports that automakers had a mind-blowing 15.2 million vehicles recalled this year, nearly twice that of last year. Toyota had the most with 4.87 million cars and trucks called back from 9 major recalls. In reality, it was two issues that were mainly responsible for all the recalls, the acceleration issue [...]
AIG exec quits over government enforced pay restriction
An AIG executive has reportedly quit due to the government’s limit on executive pay. AIG said yesterday that Anastasia Kelly, vice chairman and general counsel, is resigning effective immediately.
Kelly left because of the reduction in her base salary that was mandated by the government’s pay czar, Kenneth Feinberg, AIG said. Companies like AIG that hold government [...]
State and local tax revenues fall
I found this report to be very informative and felt it necessary to re-post. Prior to posting, however, I would like to make one point. As you will find below, Mr. Dougherty advises us that while the depressed numbers are a bit discouraging, they probably shouldn’t be taken as so because “[S]tate and local tax revenues tend [...]
Unexpected drop in unemployment
Unemployment numbers dropped again unexpectedly last week. According to the labor department, claims fell 22,000 to 432,000, a record low since last July.
Here is a quick run down:
Michigan is still doing poorly. The still troubled auto industry and its continuing layoffs helped the state experience its largest increase in the number of people filing for [...]
Illuminating wallpaper may lead to lightbulb extinction
Experts have predicted that within the next five years light-emitting wallpaper may replace the use of light bulbs.
A Welsh firm was the lucky one to recieve the £454,000 grant from Carbon Trust. They will use the money to develop their cool, eco-friendly LED technology.
Apparently, it only takes a very small electric charge (a fraction of the [...]
Huffington Post says move your money to community banks
Today the Huffington Post issued an article urging people to move their money to community banks. Essentially, the thought behind someone who makes such a move is:
Why would I want to keep using the services of companies who are holding the economy in a choke-hold and treating us ordinary American citizens like we work for them [...]
GMAC is getting another $3.5 billion — Merry Christmas!
Reuters reports that GMAC is “close” to getting another $3.5 billion from the US government. GMAC took $12.5 billion in December of last year.
The article continued that, according to “people familiar with the situation”, the announcement can be expected to come public in the next few days. In fact, one of the “familiar” people went as [...]
