NEW YORK (CNNMoney.com) -- Wall Street was poised for a strong open Wednesday as investors focused on two upbeat jobs reports, shrugging off anxiety about the bank stress test results due out Thursday.A couple more of these "upbeat" months and unemployment will be at 15%.
Angry over billions in bailout money for Wells Fargo & Co., workers at a suburban Chicago factory where suits for President Barack Obama are made decided Monday to stage a sit-in if the clothier's creditor liquidates the company.A double win for lil Alexi; some back scratching for the SEIU (sure to act as loyal political muscle in his upcoming bid for the US Senate) and another chance for the government to flex its muscle over the private sector with this bullshit pandering.
Workers at Hartmarx Corp., which filed for Chapter 11 bankruptcy protection in January, stopped production inside a Des Plaines, Ill., plant for 15 minutes Monday. They voted unanimously to take over the factory if Wells Fargo and its subsidiary Wachovia Bank shut down the factory and sell all its assets.
The workers' demands, similar to another high-profile worker takeover at a Chicago factory last year, have drawn the support of state officials including Illinois Treasurer Alexi Giannoulias. He has threatened to pull state business from Wells Fargo
The Al Jazeera English news channel, broadcast in more than 100 countries, became available today to pay-TV subscribers in the Washington market thanks to a deal with nonprofit MHz. The Qatari news channel will join the lineup of international programming supplied by MHz to Comcast, Cox, RCN and Verizon FiOS. MHz will offer it over the air beginning July 1.I remember a few years back when Comcast entertained the idea of syndicating Al Jazeera I called them and said I would cancel the second they went on the air. Luckily for them they backed down.
Asked in his Monday briefing if the White House would consider bailing out the newspaper business, White House press secretary Robert Gibbs told reporters the government may not have the power to reverse the industry’s decline.No mater how hard they try, it looks like the Dear Leader wont ride to their rescue after all.
But Gibbs wasn’t just sympathetic — he also twisted the knife a little, digging into reporters who questioned the Obama administration’s commitment to cutting spending.
“You guys didn’t think $100 million meant a lot a few weeks ago,” Gibbs said. “But looking at some of the balance sheets, $100 million seems to mean a lot.”
If the Obama administration expected the senior creditors of Chrysler to fold their tents under political pressure, they may have gotten a rude shock today. Thomas Lauria, who accused the White House of threatening the creditors withn humiliation at the hands of the White House press corps, has filed a motion to halt the administration’s machinations on behalf of the UAW in the Chrysler bankruptcy. Lauria and his allies claim that the Obama administration has violated the Constitution in their bid to devalue the senior creditors’ holdings on behalf of junior creditors, and have some precedent to support the allegation.Make you wonder where the folks form the ACLU are?
CHICAGO - Public records show Illinois Treasurer Alexi Giannoulias (juh-NOO'-lee-as) used money earned by a state college savings program to purchase a $26,000 government vehicle.Looks like Obama’s hand picked successor for his senate seat, Alexi Giannoulias, has learned well the way of Illinois politics.
The Chicago Tribune reported Sunday that Giannoulias used the state's Bright Start fund to pay for the SUV. The treasurer's office offers the program to allow families to save money for college. The program's investments lost $85 million last year.
