Feds Expand AIG Bailout With 30 Billion More
The government offers AIG another 30 billion on an as needed basis while the insurer confirms a 62 billion loss and the total rescue surpasses 173 billion. Officials warn the bailout may be necessary to prevent systemic economic damage and taxpayer risk.
MENTIONED IN THIS ARTICLE
Washington
American International Group
AIG
United States
U.S
Mark Williams
Boston University
Federal Reserve Bank
White House
Robert Gibbs
Dow Dips Under 7000 as Analysts See Slower Recovery
The Dow fell below 7,000 for the first time since May 1, 1997 after a 23 percent yearly drop. Bell Curve Trading's Bill Strazzullo warns the market could fall further to 5,000 for the Dow and 500 for the S&P, while analysts say a recovery hinges on healthier financial firms.
MENTIONED IN THIS ARTICLE
Bell Curve Trading
Dow
S&p
Wall Street
Timken to cut 400 salaried jobs worldwide
Timken Co. will trim 400 salaried positions this year, about 2 percent of its workforce, to reduce costs amid weak demand. Pretax savings are projected at 30 to 40 million dollars annually, with severance costs estimated at 10 to 15 million. About 2,300 salaried staff are in Canton and Stark County.
MENTIONED IN THIS ARTICLE
Seth
Canadien
Mutual
Acthood
The
Associated Press
Cleveland
Timken Co
Timken
Canton
Stark County
Fifth Third CEO compensation falls to 3 million in 2008
Kevin Kabat, chairman president and CEO of Fifth Third Bancorp, drew about 3 million in 2008 down 70 percent from 2007 as the bank posted losses and took government aid. Base salary rose to 899,995. stock and options were about 1.9 million, with 208,134 in other compensation for items such as parking and club dues.
MENTIONED IN THIS ARTICLE
New York
Fifth Third Bancorp
Securities and Exchange Commission
Kevin Kabat
Kabat
Wendy's Arby's posts big Q4 loss on weak Arby's sales
Wendy's Arby's Group Inc reports a 393.2 million loss on 801.7 million revenue as discounts lure customers away from Arby's. Arby's same store sales fall 8.5 percent in North America while Wendy's posts a 3.7 percent gain.
MENTIONED IN THIS ARTICLE
New York
Arby's
Wendy’s/Arby’s Group Inc
Wendy’s
Enue
Arby
North America
Freddie Mac Chief Resigns After Six Months in Job
Freddie Mac announces CEO David Moffett will resign by March 13 amid ongoing mortgage losses and plans to seek up to 35 billion dollars in additional government aid. Moffett, 57, has led since September after the government seized control of Freddie Mac and Fannie Mae.
MENTIONED IN THIS ARTICLE
Freddie Mac
Washington
David Moffett
Moffett
Fannie Mae
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Office Ly
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Ae Beers Odt
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Elyria Electrical
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the Market IN Review
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New York Mercantile Exchange
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Smucker NY
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WendyArty
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Bill Strazzullo
Brian P. Cooley
Pines
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