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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Jun 16, 2009
Page
4
Gas prices climb for the 48th straight day fueling concern that peak near may come soon. Benchmark crude slipped to 70.62 a barrel as the dollar rebounded, while natural gas jumped over 8 percent amid weak manufacturing demand.
The Obama administration seeks to empower the Federal Reserve as a systemic risk regulator and create a cross agency council to coordinate financial oversight. It plans stronger investor protections and consumer product oversight while backing away from a full consolidation of banking regulation. Remarks by Geithner and Summers appeared in a Washington Post opinion piece.
New York report finds wedding attendance remains high but gift Giving dips with the downturn. Wendy Higgins in Michigan hopes to attend her niece s August wedding despite losing disability checks and her husband s layoff. An AP Brides.com poll shows 90 percent of attendees give gifts, yet only 28 percent think gifts are expected, highlighting financial strain and enduring wedding rituals.
The Boston Globe reports three potential buyers for the paper: Stephen Pagliuca co owner of the Boston Celtics Jack Connors and Stephen Taylor a former Globe executive. Anonymous sources note the bidders include Pagliuca Connors and Taylor reflecting ongoing ownership interest.
A bipartisan group in Washington asks the IRS to suspend automatic penalties up to 300000 for small businesses disclosing use of questionable tax shelters. They argue the 2004 law targets large firms and overburdens smaller operators seeking modest tax savings.
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