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This newspaper page contains 4 articles. Subscribers can read the full text of each article.
Newspaper
Aiken Standard
Location
Aiken, South Carolina, United States of America
Date
Sep 26, 2008
Page
11
Washington DC Republicans boycott key votes delaying a $700 billion emergency rescue bill as Treasury Secretary Paulson and lawmakers race to salvage a plan to buy toxic assets and stabilize credit. Democrats blame House Republicans for the setback. talks resume Friday with Bush McCain and Obama seeking unity.
Delta Air Lines and Northwest Airlines shareholders approve a stock-swap merger to create the world’s largest airline. The deal, announced April 14, awaits Justice Department approval and a November trial on a federal challenge in San Francisco. CEO Richard Anderson says the timetable remains end-year completion. Some retired pilots object to equity for current employees without a similar benefit for retirees.
In the wake of looming bailout talks, former top bankers including Merrill Lynch's Stanley O Neal Wachovia’s Ken Thompson and Citigroup’s Chuck Prince exit with multi million severance packages. The piece notes they depart before the crisis fully unfolds as Congress and the Bush administration debate a 700 billion rescue plan and possible limits on future pay. Prince leaves Citigroup with 10.4 million cash 1.5 million perks and 22 million in stock.
Top Senate Democrats led by Harry Reid and Robert Byrd roll out a 56 billion dollar economic stimulus measure aiming to extend unemployment benefits expand Medicaid funds and back flood and auto relief as Congress weighs Pentagon funding and a separate Wall Street bailout.
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