Staff / TruthdigApr 24, 2010
Much like the biblical Job, the actor and official member of "the famous Baldwin brothers Hollywood clan" believes in God and has endured hardships Now, although this particular Baldwin apparently hasn't suffered from a plague of boils (continued)
. Dig deeper ( 1 Min. Read )
Staff / TruthdigApr 17, 2010
We can all now breathe a collective sigh of relief: Bank of America has returned to quarterly profit after losing almost $200 million in the last quarter of 2009. The news comes even as home foreclosure activity hit an all-time record in March. Dig deeper ( 1 Min. Read )
Staff / TruthdigJan 9, 2010
What's to be done about California's budget woes? Well, Gov Arnold Schwarzenegger is cutting way back on spending on such superfluous concerns as "health, welfare, transport and the environment," according to the BBC But really, this'll hurt him more than it'll hurt oh, never mind . Dig deeper ( 1 Min. Read )
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Staff / TruthdigJul 15, 2009
What exactly does an executive have to do to not get a golden parachute? Former GM CEO Rick Wagoner ran the company into the ground, and will now retire with $8.6 million for his trouble. That figure was negotiated down from the $23 million the old pre-bankrupt GM would have had to pay Wagoner. Sorry Rick, but it's a rough economy. Dig deeper ( 1 Min. Read )
Staff / TruthdigJun 6, 2009
A new study reveals that through-the-roof medical bills are the cause of more than 60 percent of bankruptcies in the U.S. From 2001 to 2007, bankruptcies associated with medical debt increased by 50 percent, and 75 percent of the families surveyed actually had health insurance. Dig deeper ( 1 Min. Read )
William Pfaff / TruthdigJun 3, 2009
I wonder what my father would have thought of the self-destruction of General Motors. We were a General Motors family, but not a happy one. Dig deeper ( 4 Min. Read )
Staff / TruthdigJun 1, 2009
General Motors filed for Chapter 11 bankrupcy protection on Monday. Shortly after the announcement, President Obama tried to reassure taxpayers, who are effectively shelling out an additional $30 billion in return for a 60 percent stake in the company, according to the new restructuring plan. The "new GM” will shed 21,000 more employees and shut down 12 factories and 2,600 car dealerships. Dig deeper ( 1 Min. Read )
Staff / TruthdigMay 27, 2009
GM's restructuring plan will make the Treasury Department the majority owner of the company, according to Bloomberg. The administration reportedly intends to take as passive a role as possible and will not appoint anyone to the automaker's board, thereby avoiding the danger that something competent might happen. Dig deeper ( 1 Min. Read )
Staff / TruthdigMay 1, 2009
President Obama gave certain hedge fund manager types who held out for "an unjustified taxpayer bailout," as he put it, a dressing down in the midst of his comments about Chrysler's bankruptcy filing on Thursday. Needless to say, that didn't go over so well with the targeted demographic. Dig deeper ( 1 Min. Read )
Marie Cocco / TruthdigApr 30, 2009
This is how it ends. Or at least, this is how the latest, sad chapter in a story that has been ending for three decades is written. Dig deeper ( 3 Min. Read )
Staff / TruthdigApr 13, 2009
GM has until June 1 to cut a deal with its workers and bondholders, but the Treasury Department is requiring the automaker to prepare for bankruptcy just in case, according to The New York Times. Newly installed GM chief Fritz Henderson is more receptive to the possibility than his predecessor, but warns, "If we need to resort to bankruptcy, we have to do it quickly." Dig deeper ( 1 Min. Read )
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