government bailout

Daily News Roundup: So This Is Your House!

Tuesday, November 11th, 2008

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.”

Daily News Roundup: Computer-side Chats?

Monday, November 10th, 2008

from FreakingNews.com

FDR had radio; Kennedy had TV; Obama will tap the Web. The Obama campaign will keep its list of some 10 million supporters and build from there as it creates a new, Web-savvy White House communications operation. Check out the Obama transition Web site, where members of the public can share their own vision of the country’s future (under the idealistic sub-heading of “Open Government”). What might direct Web-based communication from the White House look like? Expect blogs, e-mail, and text messages for those on the list, and maybe even display and video ads targeted to specific geographic regions or running next to news stories relevant to policies for which the White House needs to drum up support. Used well, it could mean more open government. But technology alone is no guarantee.

Black comedians are testing the waters, like, with an assassination joke. Tommy Davidson told the audience at Comedy Union in Los Angeles that he would do a bit on President-elect Barack Obama’s inauguration speech, and almost immediately they heard a fake gunshot and he went down. Some laughed, others didn’t know how to react. It’s all part of an awkward new phase for black comedians, who traditionally find the funny by venting about inequity but who now don’t want to spoil the hope and optimism inspired by Obama’s presidency, according to one African American Studies professor. They may be treading lightly for a while.

Good cop, bad cop: Biden’s role is clearer now. With a tough, foul-mouthed Democrat as chief of staff (that’s Rahm Emanuel), and since Democrats will not have a filibuster-proof majority in Congress, the Obama administration will need to rely on good cop Vice President-elect Joe Biden to cross the aisle and smooth negotiations when needed. Meanwhile, Obama will likely spend the first one to two years of his presidency collaborating with three core Bush appointees: Chairman of the Joint Chiefs of Staff Michael Mullen, Federal Reserve Chairman Ben Bernanke, and FBI Director Robert S. Mueller III.

The middle class will get tax cuts sooner, not later, according to Obama chief of staff Rahm Emanuel. That also means taxes will be raised for those making more than $250,000. However, Obama supporters probably shouldn’t hold their breath that all of his more sweeping proposals, such as near-universal healthcare, will happen as quickly.

Toppled titan AIG will get another government bailout. The amount of rescue money has increased to $150 billion from what was originally an $85 billion bailout, but the rules have changed a bit. The new plan involves direct investment rather than assuming debt, and the company’s top executives now face salary and bonus limits.

Daily News Round Up: Post-Debate Hangover

Monday, September 29th, 2008

ledger
First, as you probably know, Paul Newman died. This made us verklempt. Secondly, we’re still talking about the bailout, and banks getting bought out. And everyone is still yammering on about the debate. And many people (OK, hardcore liberals) are genuflecting at the altar of Frank Rich for his analysis of McCain’s campaign. Real Clear puts Barack Obama at an average of 4.6 percentage points ahead of McCain. The real shocker in those numbers? Fox News has Obama at plus six percentage points. Some people are even talking landslide.

Science magazine has a report that concludes that a liberal and conservative response is purely physiological.  I know that watching Tina Fey-as-Sarah Palin makes me hot-and-bothered.

It’s official: Everything made in China is tainted.

In other news, texting supercedes talking. Since 2007, text messaging has grown by 64 percent while calls have dropped, says the New York Times. Those who are used to fighting off “crackberry thumb,” could have told you this, too. Forty two percent claim they can text blindfolded.

Good thing, then, that Kahleeforneeya is passing a no-texting law, thanks to Arnie. While the no-driving-while-holding-a-handset law finally went into effect this summer, incredibly, texting while driving was still perfectly, insanely, legal. The Governator has rightfully signed a law which would implement a $20 fine for the first offense, and $50 thereafter. It would go in to affect January 1.  (Methinks the fines should actually be much higher.)

So, I don’t know about you but I’ve never referred to my best friend as someone who “I’ve been together with a long time,” which seems like confirmation of a relationship. However Lindsay Lohan’s flack Leslie Sloane-Zelnick is issuing a laughably retarded statement claiming Lohan and Samantha Ronson are just friends. (I also don’t hold hands with my best friend in public. Seriously Leslie, give it a break.)

She’s only two, but Heath Ledger’s daughter is already suing her insurance company. The company is already devaluing her estate by $10 million because of a loophole. Matilda’s not taking it lying down. She poops on you, ReliaStar Life Insurance Company!