Just an informal meet and greet … President-elect Barack Obama and his wife Michelle got their first tour of the White House from George and Laura Bush Monday. Interesting tidbits: Barack thought the Oval Office was “really nice” (he hadn’t been in it before), and Monday was also his first limousine ride in Washington.
Now let’s get down to brass tacks … Obama pressed Bush to allow struggling automakers to tap into the $700 billion in bailout money. Bush countered by asking for Democrats to drop their opposition to a free-trade agreement with Columbia. General Motors, the largest of the three Detroit automakers, is also arguably in the worst shape – it will likely run out of cash by January.
In Armistice Day news … European countries marked the 90th anniversary to the end of World War I Tuesday, with the few remaining veterans on hand to celebrate. Three of Britain’s four living veterans (ages 112, 110 and 108) attended a remembrance at the Cenotaph national war memorial in London, along with the oldest American veteran, 107-year-old Frank Buckles. Germany and France’s last two veterans died earlier this year.
Grande, half-caf, non-fat, sugar-free, double-shot, extra-foam, no-whip latte holds less appeal … Starbucks announced Monday its fourth-quarter profits fell 97 percent, mainly due to costs associated with closing under-performing stores and fewer customers during these troubled economic times. During a conference call Monday, Starbucks CEO Howard Shchultz said unlike other premium retail stores, same-store sales declines at Starbucks outlets in October hadn’t reached double-digit numbers. Well, that’s a relief.
Countdown for Ralph Macchio cameo begins … Jaden Smith, precocious spawn of Will Smith, will star in a remake of The Karate Kid, Variety reports. Jaden, 10, had his feature-film debut in 2006’s Pursuit of Happyness, starring alongside his father. The new version is being produced by Jerry Weintraub, who also launched the original set of movies back in 1984. Jaden is a natural for the role; according to Variety, he is “a martial arts practitioner.”
Tags: $700 billion, armistice day, auto industry, government bailout, hard times, jaden smith, karate kid reboot, obama, oval office, starbucks, white house