Published Friday, September 26, 2008
Failed WaMu goes to JPMorgan
NEW YORK (AP) - As the debate over a $700 billion bank bailout rages on in Washington, one of the largest U.S. banks - Washington Mutual Inc. - has collapsed under the weight of its enormous bad bets on the mortgage market.
Ike wipes out Gulf seafood
SAN LEON, Texas (AP) - On the eve of October’s peak seafood harvesting season, migrant fishermen are sweeping debris from gutted homes instead of scooping shrimp and oysters from the Gulf of Mexico’s lucrative floor. The $100 million fishing industry in Galveston Bay is virtually paralyzed.
FDA found lacking on food safety
FRESNO, Calif. (AP) - The Food and Drug Administration’s efforts to combat food-borne illness are hampered by infrequent inspections, not enough staff and the failure to implement a program devoted to the safety of fresh produce, according to congressional investigators.
Milk scare spreads to snacks, cereal
BEIJING (AP) - Cookies from a major Japanese confectioner and Chinese-made baby cereal and crackers were the latest products caught up in tainted milk scandal today, and Taiwan reported three babies with kidney stones in the island’s first cases possibly linked to the crisis.
Stocks close up ahead of news on bailout
NEW YORK (AP) - Financial markets grew more upbeat yesterday as political leaders said they struck an agreement in principle on a massive plan to revive the financial system. The Dow Jones industrial average jumped about 200 points on optimism about the bailout.
Economy grows less than expected in spring
WASHINGTON (AP) - The economy’s spring rebound turned out to be slightly less energetic than the government previously thought.
Microsoft wins appeal in music patent lawsuit
SEATTLE (AP) - Microsoft Corp. does not have to pay $1.5 billion in damages to Alcatel-Lucent SA, federal appeals judges ruled yesterday, in what might be the last word on a long-running digital music patent lawsuit.
AIG letter fraud leads to arrests in Hong Kong
HONG KONG (AP) - Hong Kong police said today they have arrested 11 people in connection with a forged letter that claimed troubled U.S. insurance giant American International Group Inc. was selling its Asian subsidiary.
Risk of cuts spurs Razor scooter recall
WASHINGTON (AP) - About 103,000 Chinese-made Razor PowerWing scooters were recalled yesterday after four people received cuts that required tendon surgery.
TEST
DRIVE
Hyundai
genesis
By RICHARD WILLIAMSON
Scripps Howard News Service
There was a time when South Korean carmaker Hyundai was considered absurdly precocious in challenging Toyota in the United States. That was more than 3 million sales ago.
Now, they’re taking on Lexus.
UNDER THE HOOD
Intermittent shuddering can have various causes
By BRAD BERGHOLDT
McClatchy-Tribune News Service
Q: I have a Mercury Sable wagon with automatic transmission. The engine is the 3.0-liter V-6 with 113,000 miles. Consistently while accelerating between 35 and 45 mph the engine shudders and bucks as though starting off in third gear with a manual transmission.
Carolina shop is plugged in to hybrid trend
McClatchy Newspapers
RALEIGH, N.C. - In a windowless workshop near the county landfill, a small Raleigh company has spent the past year trying to solve the nation’s energy crisis one car at a time.
GM to build new engine plant in Flint
FLINT, Mich. (AP) - General Motors Corp. said yesterday it will build a new factory in Flint to make four-cylinder engines for the Chevrolet Volt rechargeable electric car and other models.
