Memorial scheduled for Obama's grandmother
HONOLULU – A memorial service for President-elect Barack Obama's grandmother, Madelyn Payne Dunham, will be held Friday at the National Memorial Cemetery of the Pacific in Honolulu.
The Borthwick Mortuary said Wednesday that the service will be open to the public, but the Obama family will not be in attendance.
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Sunday, November 23, 2008
Saturday, November 22, 2008
Banker Bailout Funds Buy Chinese Bank Assets
Bank of America's stake in China Construction Bank may play well
November 18, 2008
U.S. politicians could be forgiven a raised eyebrow or two. Bank of America took $15 billion under the U.S. Treasury's Troubled Asset Relief Program, known as TARP. Now its chief, Ken Lewis, is spending $7 billion of his spare cash upping the bank's stake in China Construction Bank, or CCB, to 19 percent. It might smack of TARP funds - borrowed by the United States from countries like China - going full circle back to the Middle Kingdom.
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November 18, 2008
U.S. politicians could be forgiven a raised eyebrow or two. Bank of America took $15 billion under the U.S. Treasury's Troubled Asset Relief Program, known as TARP. Now its chief, Ken Lewis, is spending $7 billion of his spare cash upping the bank's stake in China Construction Bank, or CCB, to 19 percent. It might smack of TARP funds - borrowed by the United States from countries like China - going full circle back to the Middle Kingdom.
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USA Asks For Foreign Aid
US seeks 300 billion dlrs from Gulf states: report
Thu Nov 20, 2:29 am ET
KUWAIT CITY (AFP) – The United States has asked four oil-rich Gulf states for close to 300 billion dollars to help it curb the global financial meltdown, Kuwait's daily Al-Seyassah reported Thursday.
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The daily said the United States plans to use the funds to help the ailing automobile industry , banks and other companies suffering from the global financial turmoil.
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Thu Nov 20, 2:29 am ET
KUWAIT CITY (AFP) – The United States has asked four oil-rich Gulf states for close to 300 billion dollars to help it curb the global financial meltdown, Kuwait's daily Al-Seyassah reported Thursday.
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The daily said the United States plans to use the funds to help the ailing automobile industry , banks and other companies suffering from the global financial turmoil.
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Wednesday, November 19, 2008
Auto Industry CEOs Get Pricey Perk While Asking For Taxpayer Bailout
They want more taxpayer funds while they fly on private jets. Do the employees and shareholders not care how management continues to waste money?
The automakers have been effectively insolvent for a decade because of the retiree benefit obligations. Vehicle sales are down (particularly high-margin SUVs) and the fixed costs are killing the auto makers. A bailout or loan will not fix the economics of the industry and benefit obligations.
Big Three CEOs Flew Private Jets to Plead for Public Funds
Auto Industry Close to Bankruptcy But They Get Pricey Perk
By BRIAN ROSS and JOSEPH RHEE
November 19, 2008—
The CEOs of the big three automakers flew to the nation's capital yesterday in private luxurious jets to make their case to Washington that the auto industry is running out of cash and needs $25 billion in taxpayer money to avoid bankruptcy.
The CEOs of GM, Ford and Chrysler may have told Congress that they will likely go out of business without a bailout yet that has not stopped them from traveling in style, not even First Class is good enough.
All three CEOs - Rick Wagoner of GM, Alan Mulally of Ford, and Robert Nardelli of Chrysler - exercised their perks Tuesday by flying in corporate jets to DC. Wagoner flew in GM's $36 million luxury aircraft to tell members of Congress that the company is burning through cash, asking for $10-12 billion for GM alone.
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The automakers have been effectively insolvent for a decade because of the retiree benefit obligations. Vehicle sales are down (particularly high-margin SUVs) and the fixed costs are killing the auto makers. A bailout or loan will not fix the economics of the industry and benefit obligations.
Big Three CEOs Flew Private Jets to Plead for Public Funds
Auto Industry Close to Bankruptcy But They Get Pricey Perk
By BRIAN ROSS and JOSEPH RHEE
November 19, 2008—
The CEOs of the big three automakers flew to the nation's capital yesterday in private luxurious jets to make their case to Washington that the auto industry is running out of cash and needs $25 billion in taxpayer money to avoid bankruptcy.
The CEOs of GM, Ford and Chrysler may have told Congress that they will likely go out of business without a bailout yet that has not stopped them from traveling in style, not even First Class is good enough.
All three CEOs - Rick Wagoner of GM, Alan Mulally of Ford, and Robert Nardelli of Chrysler - exercised their perks Tuesday by flying in corporate jets to DC. Wagoner flew in GM's $36 million luxury aircraft to tell members of Congress that the company is burning through cash, asking for $10-12 billion for GM alone.
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Tuesday, November 11, 2008
AIG Resort "Junket"
While the size of the AIG bailout continues to expand, top AIG employees are spending the bailout money at resorts.
Another AIG Resort "Junket": Top Execs Caught on Tape
KNXV Discovers $343,000 Secret Gathering, AIG Signs and Logos Hidden
By BRIAN ROSS and JOSEPH RHEE
November 10, 2008
Even as the company was pleading the federal government for another $40 billion dollars in loans, AIG sent top executives to a secret gathering at a luxury resort in Phoenix last week.
Brian Ross investigates the insurance giant's "seminar" at a posh resort.
Reporters for abc15.com (KNXV) caught the AIG executives on hidden cameras poolside and leaving the spa at the Pointe Hilton Squaw Peak Resort, despite apparent efforts by the company to disguise its involvement.
"AIG made significant efforts to disguise the conference, making sure there were no AIG logos or signs anywhere on the property," KNXV reported.
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Another AIG Resort "Junket": Top Execs Caught on Tape
KNXV Discovers $343,000 Secret Gathering, AIG Signs and Logos Hidden
By BRIAN ROSS and JOSEPH RHEE
November 10, 2008
Even as the company was pleading the federal government for another $40 billion dollars in loans, AIG sent top executives to a secret gathering at a luxury resort in Phoenix last week.
Brian Ross investigates the insurance giant's "seminar" at a posh resort.
Reporters for abc15.com (KNXV) caught the AIG executives on hidden cameras poolside and leaving the spa at the Pointe Hilton Squaw Peak Resort, despite apparent efforts by the company to disguise its involvement.
"AIG made significant efforts to disguise the conference, making sure there were no AIG logos or signs anywhere on the property," KNXV reported.
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Saturday, November 08, 2008
Bloomberg Sues Fed
The Federal Reserve is a private bank, not part of the government. FOIA requests are for the government, so Bloomberg's lawsuit will fail. It's surprising that Bloomberg's lawyers don't know this ... maybe they are trying to wake up the people?
Bloomberg Sues Fed to Force Disclosure of Collateral
By Mark Pittman
Nov. 7 (Bloomberg) -- Bloomberg News asked a U.S. court today to force the Federal Reserve to disclose securities the central bank is accepting on behalf of American taxpayers as collateral for $1.5 trillion of loans to banks.
The lawsuit is based on the U.S. Freedom of Information Act, which requires federal agencies to make government documents available to the press and the public, according to the complaint. The suit, filed in New York, doesn't seek money damages.
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Bloomberg Sues Fed to Force Disclosure of Collateral
By Mark Pittman
Nov. 7 (Bloomberg) -- Bloomberg News asked a U.S. court today to force the Federal Reserve to disclose securities the central bank is accepting on behalf of American taxpayers as collateral for $1.5 trillion of loans to banks.
The lawsuit is based on the U.S. Freedom of Information Act, which requires federal agencies to make government documents available to the press and the public, according to the complaint. The suit, filed in New York, doesn't seek money damages.
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