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GM to Cut 21,000 US Factory Jobs, Shed Pontiac
Last Updated: 7:46 AM 04/27/09 - General Motors Corp. said it will cut 21,000 U.S. factory jobs by next year, phase out its storied Pontiac brand and ask the government to take company stock in exchange for half GM's government debt as part of a major restructuring effort needed to get more government aid. Click for Full Story

Business News
	AP Sources: Govt Clears Toyota Gas Pedal Fix 1 Comment Last Updated: 12:15 PM 01/30/10 - Three people briefed on the matter say Toyota Motor Corp. has received clearance from federal regulators on a fix for the company's sticky gas pedals. (Full Story)
	GM's Deal to Sell Saab is off the Table Last Updated: 9:33 AM 11/24/09 - A Swedish specialty automaker has backed out of a deal to buy Saab from General Motors Co., casting serious doubt on the future of the troubled brand. (Full Story)
	Retail Sales Fall 1.5 Percent in September Be the first to comment! Last Updated: 6:41 AM 10/14/09 - Retail sales declined in September by the largest amount this year as car sales plummeted following the end of the government's popular Cash for Clunkers program. (Full Story)
	Bank of America & JPMorgan Overhaul Overdraft Fees Be the first to comment! Last Updated: 4:16 AM 09/23/09 - As lawmakers prepare to implement sweeping credit card reforms, Bank of America Corp. and JPMorgan Chase & Co. are moving to overhaul overdraft fees and practices that have been criticized industrywide as excessive and harmful to consumers. (Full Story)
	Fed: Consumers cut debt by Record $21.6 Billion in July Last Updated: 12:39 PM 09/08/09 - The Federal Reserve says consumers slashed losses and uncertainty about the economic recovery prompted Americans to rein in their debt. (Full Story)
	Hidden Charges on Your Phone Bill 8 Comments Last Updated: 8:47 AM 07/25/09 - Imagine opening your phone bill to find charges of $40.00 or more for something completely unrelated to your phone service. That’s what happened to Sparks resident Lillian Johansen. AT&T is her service provider for cable, internet, and television. As a senior on a fixed income, she hoped the package deal would help her save money. Instead, she was shocked to discover charges on her bill from companies she didn't recognize. (Full Story)
	Aces Helping Reno Economy During Downturn Be the first to comment! Last Updated: 1:24 PM 07/14/09 - The Reno Aces are now officially halfway through the first season in their new ballpark. So far, despite a struggling economy many small businesses in the downtown corridor say they are seeing an increase in foot traffic on game days. (Full Story)
	Kodak is taking Kodachrome away Be the first to comment! Last Updated: 5:52 AM 06/22/09 - The Eastman Kodak Co. announced Monday it's retiring its most senior film because of declining customer demand in an increasingly digital age. (Full Story)
	Obama Outlines Plan to Help GM Survive 1 Comment Last Updated: 9:30 AM 06/01/09 - President Barack Obama pushed General Motors Corp. into bankruptcy on Monday and said it was part of a "viable achievable plan that will give this iconic company a chance to rise again." (Full Story)
	Mortgage Delinquencies hit Record High in Q1 Be the first to comment! Last Updated: 4:14 PM 05/28/09 - A record 12 percent of homeowners with a mortgage are behind on their payments or in foreclosure as the housing crisis spreads to borrowers with good credit. And the wave of foreclosures isn't expected to crest until the end of next year, the Mortgage Bankers Association said Thursday. (Full Story)
More Headlines

Fannie, Freddie Remain State Wards
With no blueprints for the future and no clear exit strategy for the government, Fannie and Freddie are focusing for now on the U.S. loan-modification program.
Menendez Prodded Fed to Aid Lender
Sen. Robert Menendez wrote to the Fed last July asking it to approve a bank takeover that would have kept two of his campaign contributors from losing their investments in the ailing bank.
L.A. Scrambles to Patch Budget Hole
City officials are considering cutting 1,000 jobs and rolling back services as they struggle to plug a $200 million deficit by July
U.K. Trade Deficit Widens
The U.K. trade deficit widened in December as a solid rise in exports was outstripped by a stronger increase in imports.
Spain Announces 2010 Debt Plan
The Spanish Treasury plans to issue $104.9 billion in net debt in 2010, down 34% from a year earlier, as the government withdraws crisis borrowing and attempts to reassure markets its debt plan is under control.
Greece's Fiscal Woes Bring Bailout Questions
If the sovereign-debt worries that are infecting the euro-zone's weakest members intensify, and Greece has trouble refinancing its heavy borrowings, policy makers will have several options to help Greece out of its jam.
Fed's Bullard Talks of Mortgage-Asset Sales
The president of the St. Louis Fed said the central bank should begin gradually selling its mortgage-securities holdings later this year despite concerns from some investors the move would raise mortgage rates
Canada Fears Housing Bubble
As the U.S. struggles to get out of its housing slump, its neighbor to the north faces a different challenge: Canada's housing recovery has been so rapid that some here are worrying about a bubble.
Fed to Outline 'Exit Strategy'
The Fed's Bernanke will begin this week to lay out a credit-tightening blueprint to be used when the central bank decides the economy has recovered sufficiently.
Japan's Current Account Surplus Grew
Supported partly by stronger demand in Asia for electronics and auto parts, Japan's economic recovery likely picked up steam late last year. Exports, particularly to emerging markets, will remain key in the current quarter.

Fannie, Freddie Remain State Wards
With no blueprints for the future and no clear exit strategy for the government, Fannie and Freddie are focusing for now on the U.S. loan-modification program.
Toyota to Recall Hybrids World-Wide
The auto maker is recalling 437,000 hybrid vehicles world-wide, including the Prius, due to problems with their antilock braking systems.
UBS Swings Back to Profit
UBS reported its first net profit in five quarters, but continued to lose assets from wealthy clients, underlining that the Swiss bank has yet to regain trust it lost during the financial crisis.
Japan Airlines Sticks With AMR
Japan Airlines said it will maintain its alliance with AMR's American Airlines, dealing a blow to rival Delta.
FSA Chief Sants to Step Down
The U.K. Financial Services Authority said that Hector Sants will leave the organization this summer after three years as chief executive officer.
GM Europe Details Restructuring Plan
GM's European division said it plans to invest $15.03 billion on its model line-up by 2014 as part of a complex turnaround plan aimed at reaching break-even in 2011 and returning to profitability in 2012.
Congress Questions Toyota's Fix
Congressional investigators examining Toyota's safety troubles are questioning whether the company and regulators have fully grasped what caused the sudden acceleration problems.
NYSE Euronext Swings to a Profit
The trans-Atlantic stock-exchange operator posted a $172 million net profit in the fourth quarter after goodwill impairment charges had dragged it into the red a year earlier.
Boeing Flies New 747 Model
The company's revamped 747 took off on its maiden flight. But the new jetliner has been slow to attract orders as Boeing again redesigns a successor to a plane that has been flying for forty years.
MGM Mirage Seeks to Divest Atlantic City Casino Stake
The move by the U.S. gambling company underscores a shift toward Macau and an increasing focus on Asia.