Regulators promise lifeline to keep banks afloat
Regulators promise a special lifeline to keep banks afloat and deny a new capital standard. The statement aims to calm markets by signaling it is not bank nationalization while noting it would be a targeted, temporary measure. The move follows prior government actions involving Citi.
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Ford and UAW Reach Health Care Deal Amid Auto Slump
Ford Motor Co and the United Auto Workers agreed to fund a health care VEBA with up to half stock instead of cash. The arrangement could set a model for GM and Chrysler as they seek to free cash during the recession and large government loans. Mark Truby said decisions will balance liquidity and shareholder value.
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Bankruptcy's impact on U.S. newspapers deepens as filings rise
The past 20 months see 33 daily papers file for Chapter 11 amid a print-to-online shift. Analysts warn lenders will push for radical changes as publishers seek to survive amid a two year ad slump and looming cost cuts. Philadelphia Inquirer and Daily News owner Philadelphia Newspapers LLC faces $390 million debt. CEO Brian Tierney says a renegotiation is possible to weather the crisis.
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