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December 5, 2008

Big 3 Bailout Stalls

The executives of the big three auto makers returned to Capital Hill Thursday to request a loan from taxpayers, reported the N.Y. Times.
The auto makers are requesting $34 billion in loans. With the recession and taxpayer concerns confronting them acquiring the loan is still uncertain.
"We're sorry to be asking for this support. We wish the market conditions were better. They're not. So this is what we need to do," General Motors Chief Executive Richard Wagoner said, reported the L.A.Times.
The auto dealers faced harsh criticism for flying in separate private jets to their initial meeting with congress to request a $25 billion bailout-much less than the current $34 billion request.
On Thursday they drove to Washington in hybrids.
The bailout is a loan request. In the 70's, Chrysler was given a government loan which was paid back in full with interest.

November 21, 2008

Ex-Viking Challenges Childress

Former Viking wide receiver Troy Williamson said Thursday that he would like to fight Viking's coach Brad Childress, reported StarTribune.com.
The Viking's coach will be in Jacksonville this week for the game between the teams. Williamson said he would like to "duke it out at mid field" with his old coach, reported TwinCities.com.
On a conference Childress playfully said, "I'm not like a woman; I'll give you my weight. It's 190 pounds of twisted steel and rompin', stompin' dynamite."
Williamson is upset with Childress for a fine he received last season. He missed practice to attend the funeral of his grandmother.
After intense national criticism, the $25,000 fine was withdrawn.


Bush Signs Jobless Benefits Bill

President Bush signed an extension of jobless benefits Friday at the White House, reported StarTribune.com.
With jobless rates at a sixteen year high, Bush signed a bill which will extend benefits for those who have exhausted their unemployment benefits. Over 10 million Americans are seeking employment.
The Bush administration has been reluctant in the past to grant unemployment extension, but signed this bill the day after the congress passed the bill, reported TwinCities.com.
"Putting money in the hands of unemployed families means they will be able to pay their rent and utility bills, buy groceries and clothe their children," Sen. Dick Durbin, D-Ill., said after the Senate's vote. "It is money that will create economic growth in America."

November 14, 2008

California Wildfires Ravage Luxury Homes

About 100 luxury homes and 2500 acres have been burned by wildfires near Santa Barbara, Calif., authorities reported Thursday, reported the L.A.Times.
The fire broke out around 6 a.m. Thursday destroying part of a college campus in Montecito and Luxury homes in the coastal foothills, reported TwinCities.com.
High winds have aided the fire. Winds are expected to moderate, but high temperatures are making containment difficult. Nearly 500 firefighters have been fighting the blaze with more expected to arrive Friday.
Three people have suffered burns from the fire, including a firefighter, said Michele Mickiewicz, a spokeswoman for the Santa Barbara County emergency operations center.


November 8, 2008

Jobless Rate Spikes Higher

The nation's unemployment rate jumped to 6.5 percent the highest rate since 1994 the government said Friday, reported the Pioneer Press.
The government reported 240,000 Americans lost their jobs in October.
Unemployment numbers were revised upwards by 64,000 for August and 125,000 for September, according to the report, reported the Star Tribune.
Thus far in 2008, the nation has lost 1.18 million jobs.
The jobless rate is expected to climb to 8 percent in 2009. The last time the jobless rate got higher than 8 percent was in the 1980-1982-recession, reported the Star Tribune.


October 31, 2008

Ted Stevens Returns to the Campaign

Alaskan Sen. Ted Stevens resumed his campaign for reelection Wednesday in Anchorage, reported the Los Angeles Times.
Stevens was convicted on Monday of seven felony charges. He was greeted by several hundred supporters on the first day of his six-day campaign.
"I'm here to tell you that I am innocent of the charges that have been brought against me, and I will be vindicated," Stevens said.
Stevens faces difficult odds in his campaign against Mike Begich, the mayor of Anchorage, a Democrat. He is not being ruled out of the race because of his 40 years as the incumbent, reported N.Y.Times.
The popular senator has delivered billions of dollars of federal money to the state of Alaska.

October 23, 2008

Republicans Spend $150,000 On Palin's Wardrobe

The Republican National Committee spent $150,000 on the wardrobe of vice-presidential candidate, Sarah Palin, reported the New York Times.
Palin's outfits were called fashion accessories by campaign advisors. They said the wardrobe was purchased to deal with the many climates found on the campaign trail, StarTribune.com.
The Republican National Committee spent $75,062 at the Neiman Marcus store on Nicollet Mall in downtown Minneapolis, $49,425 at Saks Fifth Avenue, according to "Access Hollywood", reported the New York Times.

October 16, 2008

Oil Prices Plummet

Crude oil prices dropped below $70 a barrel Thursday on the world market, N.Y.Times.
For the first time in 14 months crude oil dipped below $70 a barrel. The price per barrel has dropped from $147.27 per barrel.
The global credit crisis is causing an economic slowdown resulting in a surge U.S. gasoline and crude oil supplies.
The average price for a gallon of gasoline is $3.08 per gallon, TwinCities.com.
"It's dropping like a rock," said Fred Rozell, retail pricing director at the Oil Price Information Service in Wall, N.J.

October 10, 2008

U.S. Military Deaths Total 4,180

The Military death total in Iraq has reached 4,180 as of Thursday according to the Associated Press, TwinCities.com.
The war which began in March 2003 has also left 30,702 U.S. service members wounded according to the Defense Department reported StarTribune.com.
Allied forces have lost 307 service members since the Iraq war began.

October 3, 2008

Search Teams Have found Steve Fossett's Plane

Searchers have found the remains of adventurer Steve Fossett's plane in the California mountains, authorities said Thursday, StarTribune.com.
Crews confirmed it is Fossett's plane by matching the tail number found on the plane, Sheriff John Anderson said, Twincities.com.
The search began after a hiker found Fossett's identification documents about a quarter-mile from the crash site on Monday.
DNA testing will be conducted on the remains found near the crash site.

September 26, 2008

McCain May Skip Presidential Debate tonight

John McCain will not commit to debating Barack Obama Friday at the University of Mississippi.
McCain said Wednesday he is postponing his campaign and the debate until the financial crisis is solved in Washington.
“It is my belief that this is exactly the time when the American people need to hear from the person who, in approximately 40 days, will be responsible for dealing with this mess,? Obama said.
Sen. Lindsey Graham, R-S.C., a McCain representative, suggested that McCain would find some way to make it to the event scheduled for 9 p.m. EDT, reported the AP, September 26, 2008 - 10:01 AM.
The debate will focus on foreign policy but the financial crisis is expected to be addressed.

September 19, 2008

Palin's Husband Obstructing Investigation


Sarah Palin's husband will not testify in an ethics investigation regarding his wife a spokesman said Thursday, Star Tribune.
The Palins are accused of delaying the investigation until after the presidential election, a lawmaker said, Star Tribune.
“The governor is not trying to put off the investigation until after the election,? Mr. O’Callaghan, Palin's lawyer said.
Todd Palin has been subpoenaed by the Alaska legislature. The case involves the firing of Walt Monegan, the public safety commissioner.
Monegan believes he was fired for his refusal to fire Palin's former brother, a state trooper. The trooper was involved in a difficult divorce with Sarah Palin's sister.


September 13, 2008

McCain Supports Palin’s Record

Republican Presidential candidate John McCain defended the record of his running mate, Sarah Palin, during an interview on “The View? Friday.
McCain claimed erroneously that his running mate never sought money for lawmakers' pet projects as Alaska governor, reported startribune.com.
Palin has positioned herself as a reformer with a focus on congressional earmarks. “I have championed reform to end the abuses of earmark spending by congress,? Palin said in her presidential campaign debut, reported by twincities.com.
State budget documents reveal requests for $256 million for 2008 and $197 million for 2009. These requests represent the highest per capita rate in the country.