Published Thursday, September 25, 2008
Professor warns of bailout consequences
By JORDAN RAUBOLT
of the Tribune’s staff
A University of Missouri professor said there could be long-term consequences if lawmakers approve a proposed $700 billion bailout plan for the financial industry.
Washington blameless in Bush’s assessment
By TERENCE HUNT
of The Associated Press
How did it happen, America’s grave financial crisis? President George W. Bush offered a bunch of explanations but held Washington completely blameless, painting a picture of a government standing innocently on the sidelines as the economy went off the rails.
Daimler looks to shed share of Chrysler
DETROIT (AP) - Maybe Daimler wants to cut its losses on Chrysler, or Cerberus Capital Management wants to own the U.S. automaker outright. Whatever the motivation, the companies confirmed yesterday that talks are under way for Daimler to sell its remaining 19.9 percent stake in Chrysler to the private equity firm.
Biggest Chevrolet dealer closes
COLUMBUS, Ga. (AP) - Bill Heard Enterprises Inc., the biggest Chevrolet dealer in the country, said yesterday it is closing its 13 remaining dealerships, unable to survive in a weak economy with high gas prices and an inventory heavy on trucks and SUVs.
GM plans to sell Hummer brand
DETROIT (AP) - General Motors Corp.’s treasurer said yesterday that the automaker is planning to put its Strasbourg, France, manufacturing operation and its Hummer truck brand up for sale, and it might announce more asset sales later this year.
Bailout uncertainty keeps investors jumpy
NEW YORK (AP) - Tension grew in the financial markets yesterday sending most stocks moderately lower as investors worried about the effectiveness of a still-emerging government plan to rescue banks from crippling debt. The credit markets also showed added strain, with demand rising for short-term Treasury bills, considered the safest of investments.
Northwest investors sign off on merger
NEW YORK (AP) - Northwest Airlines shareholders today approved a proposed combination with Delta Air Lines.
New home sales, prices continue slide
WASHINGTON (AP) - New home sales tumbled in August to the slowest pace in 17 years while the average sales price fell by the largest amount on record, demonstrating the depth of the problem that Washington is trying to solve.
Durable goods orders tumble in August
WASHINGTON (AP) - Orders for big-ticket manufactured goods plunged in August by the largest amount in seven months as demand for both airplanes and autos fell sharply.
Yahoo unveils revised display ad system
NEW YORK (AP) - Yahoo Inc. launched a much-anticipated upgrade to its online advertising system yesterday as it tries to bring to graphical display ads some of the innovations that powered Google Inc.’s rapid rise in search marketing.
Goats take bite out of pesticide bills
PALMER, Neb. (AP) - When Ladd Reeves invited Michelle Wendell and more than 600 of her friends to his ranch for dinner, he put one item on the menu: weeds.
Virginia youngster finds he has a passion for farming
AMHERST, Va. (AP) - Carter Bowen drove a rusting pickup with a burned-out clutch down the gravel road. He sat up straight and forward so his camouflage boots could reach the pedals.
Transgenic corn, soybeans edge out Kansas wheat acreage
WICHITA, Kan. (AP) - Biotechnology that allows more profitable corn and soybean crops to thrive in arid fields is encroaching on traditional wheat acreage across the Great Plains, industry experts say.
