Obama to executives cap pay for bailout access
President Obama pressed a 500000 salary cap on top executives from companies seeking bailouts, framing it as a curb on a reckless culture. The limit targets distressed firms, would exclude retroactive cases, and likely affect only a handful of leaders at five major recipients.
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Barack Obama
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Las Vegas
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Chrysler LLC
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Unemployment Rises Across Metro Areas Amid Downturns
The Labor Department notes December jobless rates up in 98 percent of large U.S. metros as factory ties to housing and auto sectors weigh on hiring. More than 100000 jobs cut. January expected to hit a 17 year high.
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Heather Allen
Elkhart
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Lawmaker says SEC hindering House's Madoff investigation
Lawmakers at a House Financial Services hearing accused the SEC of blocking their Madoff probe. Whistleblower Harry Markopolos warned of safety fears and promised new evidence that Madoff acted with others. Regulators vowed caution due to ongoing investigations.
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Detroit Three's U S market share hits record low in January
Detroit automakers GM Chrysler and Ford saw their U S market share fall to just under 43 percent in January, a record low, as fleet sales vanish, financing tightens and Asian rivals offer rebates. Analysts cite lingering customer anxiety about Detroit's future and a continued shift toward foreign brands.
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Mich
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