Category Archives: Failing

Postal Service mulls dropping Saturday delivery

By doris | Published: March 3, 2010

Full Story at msnbc.com WASHINGTON – The post office is renewing its drive to drop Saturday delivery — and plans a rate increase — in an effort to fend off a projected $7 billion loss this year. Without drastic action the agency could face a cumulative loss of $238 billion over 10 years, Postmaster General [...]

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Toyota recalls 8,000 2010 Tacoma trucks

By doris | Published: February 13, 2010

Full Story at msnbc.com WASHINGTON – Toyota is recalling about 8,000 Tacoma pickup trucks from the 2010 model year to fix a problem with the front drive shaft that could cause the vehicle to lose control. The automaker told dealers Friday that a crack could develop that could lead to the front driveshaft separating and [...]

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Fallout from Honda, Toyota recalls grows

By doris | Published: February 11, 2010

Full Story at msnbc.com TOKYO/DETROIT – Honda Motor Co said it would recall another 440,000 cars around the world for faulty airbags as rival Toyota Motor Corp faced further probes over its largest-ever safety crisis. Honda, Japan’s No. 2 automaker, has now recalled close to 950,000 vehicles for airbag problems linked to one fatality and [...]

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Parents still must be vigilant to ensure toy safety

By doris | Published: November 29, 2009

Full Story at mcall.com As the holiday shopping season kicks into high gear this week, it’s a good a time to ask: Are the toys we’re buying safer than the ones a couple years ago, when millions of playthings were recalled because of high lead levels and other hazards? The world’s largest toy manufacturer, Mattel [...]

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Toyota recalls 100,000 Tundra trucks

By doris | Published: November 26, 2009

Full Story at money.cnn.com NEW YORK (CNNMoney.com) — Federal regulators announced Tuesday the recall of 110,000 Toyota pickup trucks in 20 U.S. states and the District of Columbia. The National Highway Traffic Safety Administration said that road salts can cause “excessive corrosion” of the Toyota Tundra’s frame, which holds a spare tire mounted underneath the [...]

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CIT loss won’t be last for taxpayers

By doris | Published: November 3, 2009

Full Story at money.cnn.con NEW YORK (Fortune) — CIT Group is the first big bailout loss for taxpayers, but it won’t be the last. CIT (CIT, Fortune 500) filed for Chapter 11 bankruptcy protection Sunday. The New York-based small business lender said all its common and preferred shares will be canceled, which will wipe out [...]

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Hidden pockets of elderly said to be in poverty

By doris | Published: September 7, 2009

Full Story at msnbc.com WASHINGTON – The poverty rate among older Americans could be nearly twice as high as the traditional 10 percent level, according to a revision of a half-century-old formula for calculating medical costs and geographic variations in the cost of living. The National Academy of Science’s formula, which is gaining credibility with [...]

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Keep your cash safe

By doris | Published: August 15, 2009

Full Story at money.cnn.com NEW YORK (CNNMoney.com) — As yet another bank faces collapse, consumers are worried about their cash. So far this year, 72 banks have failed, according to the Federal Deposit Insurance Corporation. Struggling southern regional bank Colonial Bank could be the 73rd. But individuals with deposits at Colonial, or any other troubled [...]

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Prolonged aid to unemployed is running out

By doris | Published: August 2, 2009

Full Story at msnbc.com Over the coming months, as many as 1.5 million jobless Americans will exhaust their unemployment insurance benefits, ending what for some has been a last bulwark against foreclosures and destitution. Because of emergency extensions already enacted by Congress, laid-off workers in nearly half the states can collect benefits for up to [...]

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Auto supplier Lear to file for bankruptcy

By doris | Published: July 2, 2009

Full Story At money.cnn.com DETROIT (Reuters) — Auto seating supplier Lear Corp. said on Wednesday it would file for Chapter 11 bankruptcy protection in a reorganization supported by key secured lenders and bondholders and that it had obtained $500 million in bankruptcy financing. Lear (LEA, Fortune 500), which had been in talks with its lenders [...]

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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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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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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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Chrysler won’t repay bailout money

By doris | Published: May 6, 2009

Full Story At money.cnn.com NEW YORK (CNNMoney.com) — Chrysler LLC will not repay U.S. taxpayers more than $7 billion in bailout money it received earlier this year and as part of its bankruptcy filing. This revelation was buried within Chrysler’s bankruptcy filings last week and confirmed by the Obama administration Tuesday. The filings included a [...]

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