May 28 Preview: UAW Chief Ron Gettelfinger on the GM Deal Editor’s note: Paul Solman sat down today with United Auto Workers chief Ron Gettelfinger for a wide-ranging interview about the future of the GM, how the union may fare in any reorganization deal, and how Gettelfinger responds to critics who… Continue reading
May 28 Which New Deal Projects Have Ended Up Costing a Bundle Down the Road? Question: I recently watched your report on the Newshour about New Deal infrastructure projects in St. Louis. You mentioned the New Deal brought us the Triborough Bridge in New York, but you didn’t mention that it is currently one… Continue reading
May 28 As GM Deadline Nears, Bondholders Back New Stock Deal By Admin, PBS News Hour General Motors said Thursday that a group of bondholders has accepted a sweetened deal that offers them up to a one-quarter stake in the company if they drop opposition to the struggling automaker's plans to reorganize. Continue reading
May 28 New Jobless Claims Fall, Manufacturing Orders Rise By Admin, PBS News Hour In new signs that the recession may be ebbing, orders for big-ticket manufactured goods rose by 1.9 percent and the number of new jobless claims fell, although the number continuing to receive unemployment remained at the highest level since 1967. Continue reading
May 27 Watch News Wrap: GM Moves Closer to Bankruptcy In the day's other news, General Motors moved one step closer to bankruptcy as bondholders rejected the company's offer to trade bond debt for G.M. stock, and Chrysler's lawyers asked a federal bankruptcy court to allow it to sell the… Continue watching
May 27 A Final Thought on the Andrews-McArdle Affair Paul Solman: The blizzard of response to the Andrews/McArdle affair has thinned to a flurry, but flakes keep coming, affording me an opportunity to respond to the persistent inclemency and continue the multi-logue, a first for this page. Continue reading
May 27 Do Mutual Funds Count as Savings? Question: You recently did a piece on savings, and it made me wonder. Every month, I shunt some money automatically into mutual funds (nothing to do with an official retirement account). The portion that is in a money market… Continue reading
May 27 Watch GM Bankruptcy Would Mark Milestone in Industrial America After the rejection of General Motors' offer to trade bond debt for company stock, analysts consider what a GM bankruptcy says about the company and the auto industry generally. Continue watching
May 27 After Bond Deal Fails, Bankruptcy Likely for GM By PBS News Hour An offer by General Motors to its bondholders to trade bond debt for company stock fell through just days before the company must submit a government-ordered restructuring plan. Continue reading
May 26 Is There Any Talk of Reinstating Glass-Steagall? By Business Desk Question: Is there any talk of reinstating the Glass-Steagall Act? Paul Solman: For those who can’t remember as far back as 1933, Glass-Steagall was an act of Congress passed only three months after President Roosevelt took office and… Continue reading