In these hard times one might be tempted to indulge in a bit of schadenfreude at the news that a $250,000 supercar for the superrich has a propensity to burst into flames, but we'll just stick to the facts. Ferrari is recalling more than 1,200 of its 458 Italia model because of a design flaw that has bonfire potential.
I must admit that when the danger of a global financial implosion became apparent in March, I did not understand how all those worthless Wall Street credit swaps really could be the fault of an overpaid union welder at an auto plant somewhere in Michigan.
Agreement has been reached between the White House and congressional Democrats to offer the U.S. auto industry a $14 billion emergency package aimed at keeping the Big Three going until spring. Also, in the grand tradition of state socialism, the deal includes a new auto "czar" to oversee the restructuring of Detroit.
White House and congressional leaders have agreed to bail out the auto industry. Detroit will get $15 billion in loans and, to make sure the Big Three keep running after their warranties expire, a so-called car czar will oversee long-term restructuring. And because we're really serious about getting this right, George W. Bush gets to pick the car czar. D'oh!
As congressional leaders, the White House and President-elect Obama came to terms with a $15-billion loan package for the auto industry, Sen. Chris Dodd suggested Sunday that not all executives should stick around to spend that money. GM CEO Rick Wagoner "has to move on," the senator declared on "Face the Nation."
Rockstar Games, the company that created the ultra-violent, ultra-popular Grand Theft Auto titles, brings you Bully, in which the central character either punishes or sticks up for the little guys in school. Some are worried it's a "Columbine simulator," but those fears appear to be unfounded.