Monthly Archives: June 2009

Michael Jackson concert refund plan unveiled

By doris | Published: June 30, 2009

Full Story At mney.cnn.com NEW YORK (CNNMoney.com) — In the wake of Michael Jackson’s death, concert promoter AEG Live said on Tuesday that ticket holders for his canceled shows in London will be fully refunded. “Since he loved his fans in life, it is incumbent upon us to treat them with the same reverence and [...]

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Jackson’s comeback: What might have been

By doris | Published: June 29, 2009

Full Story At money.cnn.com LOS ANGELES (Fortune) — – One of the executives whose hapless job it was to determine whether Michael Jackson really had it in him to mount a 50-show concert gig in London slated to begin next month told me a few weeks ago that Jackson was surprisingly robust. What was clear, [...]

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Americans saving more, spending modestly

By doris | Published: June 28, 2009

Full Story At msnbc.com WASHINGTON – Households pushed their savings rate to the highest level in more than 15 years in May as a big boost in incomes from the government’s stimulus program was devoted more to bolstering nest eggs than increased spending. The higher savings rate is healthy in the long term, economists said. [...]

Posted in America, Banking, Economy, Financial, Money, Savings, Spending | 1 Comment

Madoff’s judge to preside over historic moment

By doris | Published: June 27, 2009

Full Story At money.cnn.com NEW YORK (Fortune) — When it comes time to sentence Bernie Madoff on Monday morning, the spotlight will shift — briefly but inevitably — to Denny Chin, the federal judge who will determine the term of the Ponzi scammer’s incarceration. Because Madoff eschewed a trial and instead pleaded guilty, on March [...]

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U.S. to lend $8 billion to Ford, Nissan, Tesla

By doris | Published: June 24, 2009

Full Story At msnbc.com DEARBORN, Mich. – Cultivating the next generation of fuel-efficient vehicles, the Obama administration said Tuesday it would lend $5.9 billion to Ford Motor Co. and about $2.1 billion to Nissan Motor Co. and Tesla Motors Inc. in a government-industry partnership to build green cars. Energy Secretary Steven Chu said the three [...]

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J.D. Power: Top quality cars

By doris | Published: June 23, 2009

Full Story At Money.CNN.com If you’re tempted to buy a domestic car because of its bargain price, here’s another reason to consider: Quality improvements among U.S. carmakers have outpaced the industry placing some brands among the very best, according to J.D. Power and associates. While quality for the industry overall has improved by about eight [...]

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‘Cash for clunkers’ coming soon

By doris | Published: June 22, 2009

Full Story At money.cnn.com WASHINGTON (CNNMoney.com) — A $1 billion Washington program to give vouchers to consumers who replace junky cars with fuel-efficient models is likely to ramp up very soon. Congress passed the “cash for clunkers” measure late Thursday night as part of the $106 billion war spending bill. President Barack Obama plans to [...]

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GM To Recall 900 Workers To Mich. Plant

By doris | Published: June 21, 2009

Full Story At CBS News (AP) A bright spot has surfaced in a sea of negative auto sales statistics for General Motors Corp. The company said Friday it will recall 900 workers and restore the second shift at a factory near Lansing, Mich., because of increased sales of its Buick Enclave, Saturn Outlook and GMC [...]

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GM faces $250M past due notice

By doris | Published: June 20, 2009

Full Story At money.cnn.com NEW YORK (CNNMoney.com) — General Motors owes hundreds of millions of dollars to major suppliers who have never made an auto part, rubber tire or sheet of steel — and they’re not likely to get paid anytime soon. GM is on the hook for more than $100 million for advertising it [...]

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Oil rises to near $72 as investors eye inflation

By doris | Published: June 19, 2009

Full Story At News.yahoo.com SINGAPORE – Oil prices rose to near $72 a barrel in Asia on Friday amid concerns that massive U.S. fiscal spending will spark inflation down the road, making oil and other commodities attractive hedges. Benchmark crude for July delivery rose 50 cents to $71.87 a barrel by late afternoon Singapore time [...]

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Chrysler set to reopen most plants

By doris | Published: June 18, 2009

Full Story At money.cnn.com NEW YORK (CNNMoney.com) — Chrysler announced plans to reopen 7 of its 11 assembly lines later this month for the first time since the day after the company filed for bankruptcy in April. The company said two plants in Michigan, one in St. Louis and one in Toledo will reopen during [...]

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More auto industry bankruptcies loom

By doris | Published: June 17, 2009

Full Story At money.cnn.com NEW YORK (CNNMoney.com) — A plea by struggling auto parts makers for $8 billion to $10 billion in additional federal loan guarantees was turned down by the Obama administration’s auto task force last week. Neil De Koker, the CEO of the Original Equipment Suppliers Association, said Tuesday that widespread bankruptcies throughout [...]

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Chrysler restarts with the Viper

By doris | Published: June 16, 2009

Full Story At money.cnn.com NEW YORK (CNNMoney.com) — Chrysler will soon be making cars again. Chrysler Group announced Monday that it is restarting a factory, after shutting down all of its manufacturing for nearly seven weeks following the bankruptcy of Chrysler LLC. Chrysler Group is the new company that emerged last week with most of [...]

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Showdown over auto dealer cuts

By doris | Published: June 15, 2009

Full Story At money.cnn.com NEW YORK (CNNMoney.com) — These are hard times for car dealers. Across the nation, General Motors and Chrysler dealerships are pulling down their big roadside signs and closing their doors. The companies say they have no choice but to cut the cord and save money. The dealers, who say they are [...]

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