Newser Story Index from September, 2008
Welcome to the Newser Story Index. Here you find stories written by Newser writers and editors, assembled with supporting photos and videos from the files of the news story.
Not Priceless: Palin's $2500 RNC Jacket
New York Post
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Sep 17, 2008 10:17 AM CDT
(Newser) -
Sarah Palin has attracted notice for her designer glasses and highlights, but the New York Post is more interested in the $2,500 silk Valentino jacket she wore during the Republican National Convention —and the secret team of stylists it reports dress her for campaign events. "They do not want the American public to know that Palin...
LA Times Staffers Sue Zell for Trashing Tribune
Wall Street Journal
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Sep 17, 2008 10:15 AM CDT
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A group of current and former Los Angeles Times journalists is suing the Tribune Company for recklessly mismanaging the chain of newspapers, the Wall Street Journal reports. The suit claims billionaire boss Sam Zell has trashed the company in a hunt for quick profits, destroying the value of their pension and stock-ownership plans—though...
Oil's Slide as Chaotic as Its Rise
Washington Post
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Sep 17, 2008 10:00 AM CDT
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Crude oil prices have fallen 38% from their July high of $147.27 a barrel, and the decline is causing nearly as much consternation around the world as its meteoric rise in the first half of the year, reports the Washington Post. Oil-dependent governments are worried about revenues and forecasters are scurrying to revise outlooks. while alternative-energy...
What Is AIG? (Now That We Own It)
New York Times
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Sep 17, 2008 9:49 AM CDT
(Newser) -
For one thing, the insurance behemoth the Federal Reserve just acquired for $85 billion is profitable, explains the New York Times . AIG, which started out insuring assets in Asia, is wildly diversified and sprawling globally. Businesses range from retirement plans in the US to life insurance in the Philippines to private banking in Zurich. Half of...
Why Palin Is Mac's 'Meal Ticket'
Los Angeles Times
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Sep 17, 2008 9:19 AM CDT
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The number of enthusiastic Republicans have doubled in polls since John McCain picked Sarah Palin for his ticket, and Palin figures in slightly more news coverage than her running mate. That might be expected, but she is mentioned 10 times more than Democratic counterpart Joe Biden. Tim Rutten offers up three reasons the hockey mom has become...
Stocks Dive at Open on AIG Save, Weak Housing Starts
Wall Street Journal
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Sep 17, 2008 9:05 AM CDT
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Stocks took a nosedive at the opening bell, with the Dow falling 190.28 points within minutes, as the market absorbs an AIG bailout that prevented a body blow to the economy but was none too friendly to shareholders, the Wall Street Journal reports. The insurer fell 21% at the opening bell, leading a wide decline in financials. Housing starts also...
Bruni Meets Up With Metallica
BBC
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Sep 17, 2008 8:45 AM CDT
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France's first lady shared a bill with Metallica on a British music show last night, the BBC reports. Former model Carla Bruni tapped her foot and clapped as the headbangers played—then joined host Jools Holland for a bluesy ballad. Bruni discussed the challenges of living both as a pop star and as wife to "very kind" French President...
Star-Studded Wallets Come Out for Obama Fundraiser
Los Angeles Times
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Sep 17, 2008 8:29 AM CDT
(Newser) -
Barack Obama pulled down $11 million between two star-studded Hollywood fundraisers last night, in the biggest single-night take of his campaign, reports the Los Angeles Times. The candidate mixed it up with the likes of Steven Spielberg, Chris Rock, and Barbra Streisand —who capped off the night with a performance —as...
Pigs Savaged in PETA Farm Video
Associated Press
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Sep 17, 2008 7:59 AM CDT
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Undercover investigators for the anti-cruelty organization PETA have filmed shocking cruelty to pigs at an Iowa farm, AP reports. Pigs are seen being beaten with metal rods while a supervisor brags of jamming rods in sows' anuses. Unhealthy piglets are slammed against the floor and left to die writhing in a heap. The animal rights group is seeking...
Facing Palin, 6 Women's Groups Endorse Obama
Associated Press
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Sep 17, 2008 7:49 AM CDT
(AP) -
Six women's rights groups endorsed Barack Obama for president yesterday, asserting the historic selection of Sarah Palin does not make up for John McCain's lack of support on issues important to women. One of those groups was the National Organization for Women, which has not endorsed a presidential candidate since Walter Mondale ran with Geraldine...
Why AIG Got a Bailout (and Lehman Didn't)
Time
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Sep 17, 2008 7:40 AM CDT
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The Federal Reserve seemed to draw a hard line against bailouts with Lehman Bros., but just days later it stepped over that line to save AIG. Why? First, says Time : Size. Its implosion would have been "as close to an extinction-level event" as we've been since the Depression. But also: Fear. Whereas Lehman’s collapse was long...
Morgan Stanley Likely Shopping for a Merger
CNBC
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Sep 17, 2008 7:25 AM CDT
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Morgan Stanley is rumored to be considering whether to merge with a deposit-taking bank, reports CNBC, in the wake of Lehman's collapse after repeatedly shunning buyout offers. And while the company hasn’t yet found a partner, insiders say that its sliding stock price makes survival unlikely without a well-capitalized bank as a partner.
Hank and Ben: Time to Play Offense
New York Times
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Sep 17, 2008 7:15 AM CDT
(Newser) -
If you'd told economists 18 months ago what lay ahead in the financial industry, predictions for the American economy would be dire. The fact that things aren't totally awful—we still haven't entered into a recession—is testament to the good defense of Hank Paulson and Ben Bernanke. What they aren't doing, writes David Leonhardt in the...
Thaksin Relative Elected Thai Prime Minister
Bangkok Post (Thailand)
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Sep 17, 2008 6:51 AM CDT
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The No. 2 figure in Thailand's ruling party and the brother-in-law of exiled leader Thaksin Shinawatra was easily elected prime minister today. Somchai Wongsawat will take office after he receives the endorsement of the king. But the People's Alliance for Democracy, whose protest outside the prime minister's office continues, have said they will not...
Attack on US Embassy in Yemen Kills 16
Associated Press
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Sep 17, 2008 6:03 AM CDT
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A car bomb at the gates of the American embassy in Yemen has caused at least 16 casualties, a US spokesman inside the embassy told AP. Two car bombs were followed by a gun battle between attackers and guards, said Yemeni officials. Hundreds of heavily armed troops have now surrounded the embassy. The dead included at least six Yemeni security...
McCain Fumbles for Right Tone on Economy
New York Times
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Sep 17, 2008 5:35 AM CDT
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John McCain struck his latest discordant note on Monday when he described the economy's fundamentals as "strong" even as the financial system shuddered under hammer blows. McCain swiftly backpedaled, calling America's workers its fundamentals, but the issue highlights the candidate's struggle to overcome Democratic charges that he's out of...
AIG Rescue Boosts Euro Stocks; Asia Rally Fades
Bloomberg
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Sep 17, 2008 4:49 AM CDT
(Newser) -
European stocks edged up today for the first time in three days on news of the US government's $85 billion bailout of insurance giant AIG—but an early rally in Asian markets faded, reports Bloomberg and the New York Times . Europe's Stoxx 600 climbed as much as 1.9% after trading opened. The FTSE 100 index in London and CAC-40 in Paris both...
Governator Vows Veto Volley in Budget Battle
San Jose Mercury News
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Sep 17, 2008 4:15 AM CDT
(Newser) -
California Gov. Arnold Schwarzenegger is heading for a dramatic and potentially humiliating showdown with the state legislature over the budget, reports the San Jose Mercury News. Schwarzenegger plans to veto the budget which largely relies on accounting sleight-of-hand to close a $15.2 billion shortfall. Legislators say they have enough votes for...
Toxic Milk Poisons 6,000 Babies
BBC
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Sep 17, 2008 3:48 AM CDT
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The toll from contaminated infant formula in China continues to mount alarmingly, with more than 6,000 babies poisoned and at least three killed, reports the BBC. Another 158 are suffering from acute kidney failure. The chemical melamine—which caused widespread pet deaths in contaminated food last year—has now been discovered in 22 brands...
Google Will Unveil Android Phone Next Week
Associated Press
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Sep 17, 2008 3:25 AM CDT
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Google’s hyped Android phone will make its debut next week in New York, the Los Angeles Times reports. Google and T-Mobile—the gadget's first carrier—plan a press conference to show off the handset, a new rival for the iPhone and Blackberry. The "G1” won’t go on sale until October, but pricing details are...
Livni Poised to Be Israeli PM
New York Times
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Sep 17, 2008 3:03 AM CDT
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The main party in Israel's coalition government is poised today to choose 50-year-old foreign minister Tzipi Livni as Kadima party leader and new prime minister. She'll have a matter of weeks to construct a new coalition government or risk an election defeat by the right-wing Likud party, reports the New York Times .
Pols Pitch Federal Agency to Take On Bad Debt
New York Times
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Sep 17, 2008 2:40 AM CDT
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The idea of creating a federal agency to dispose of the toxic debt at the heart of the credit crisis is gaining traction in Washington, the New York Times reports. The proposed agency would resemble one set up in 1989 to resolve the savings and loan crisis—but in a controversial extension would also acquire assets not backed by federal deposit...
House Passes Drill Bill
Washington Post
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Sep 17, 2008 2:18 AM CDT
(Newser) -
An energy bill including a partial lifting of the ban on new offshore drilling has passed the House, reports the Washington Post . The vote split largely along party lines, with most Republicans rejecting the package for not going far enough. The measure would allow new drilling beginning at 50 miles offshore and beyond. Opponents say the limit is...
FDA Bans Indian-Made Drugs
Washington Post
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Sep 17, 2008 1:57 AM CDT
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The FDA has banned imports of 28 products made in India by one of the world's biggest generic drug makers, Ranbaxy. The drugs include antibiotics and antiviral medication, as well as medicines for high cholesterol, diabetes, high blood pressure, allergies and acne, reports the Washington Post . There is no danger to the public from the drugs, despite...
Ferry Workers Rescue Missing Teacher in Water
New York Times
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Sep 16, 2008 9:57 PM CDT
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A 23-year-old woman rescued from the water today by Staten Island ferry workers turns out to be a Harlem teacher reported missing 2 weeks ago, the New York Times reports. She is recuperating in the hospital but has yet to shed light on her disappearance. Hannah Emily Upp disappeared just before school started, and investigators found her apartment...
Couric Gets Second Big Palin Interview
Associated Press
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Sep 16, 2008 9:40 PM CDT
(AP) -
Second in the broadcast network competition to talk to Sarah Palin: Katie Couric. The CBS anchor will spend two days on the road with her and John McCain, the network said. Couric's interview material will be aired Sept. 29 and 30 on the CBS Evening News and The Early Show . It's timed for just before the Oct. 2 vice-presidential debate. Palin also...
Poehler Plans Early SNL Exit
E! Online
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Sep 16, 2008 9:08 PM CDT
(Newser) -
Amy Poehler will make her exit from Saturday Night Live earlier than planned, E! News reports. The Emmy-nominated actress, who is expecting her first child with husband Will Arnett, won’t return to the show after her maternity leave, which starts in a few weeks. Instead she’ll start work on her new, untitled show from the producers of...
Fiorina Doesn't Think McCain, Palin Could Be a CEO
Boston Globe
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Sep 16, 2008 8:38 PM CDT
(Newser) -
Carly Fiorina, former CEO of Hewlett Packard and a top financial adviser of John McCain, found herself backtracking in a hurry today after stating flatly that Sarah Palin—and later, John McCain—could not run a big company, the Boston Globe reports. Asked on a radio station whether she thought Palin had CEO skills, Fiorina said, "No,...
Gaming Teens Make Good Citizens
MSNBC
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Sep 16, 2008 8:10 PM CDT
(Newser) -
The stereotype of the isolated video gamer is as antiquated as Pong—teens, at least, see gaming as a social activity, new research shows. A clear link exists between gaming, in which virtually all teens participate, and civic engagement, MSNBC reports. That doesn’t mean every Grand Theft Auto expert is a budding philanthropist, but neither...
Fed to Bail Out AIG With $85B Loan
MSNBC
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Sep 16, 2008 7:39 PM CDT
(Newser) -
The Federal Reserve is poised to rescue insurance giant AIG with an $85 billion loan, MSNBC reports. In return, the Fed will take an 80% stake in the company, which is one of the world's biggest insurers. The move is a reversal for the US government, but federal officials determined that AIG's failure would be "catastrophic" in the current...
Interest Groups Rejoining the Fray
New York Times
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Sep 16, 2008 7:01 PM CDT
(Newser) -
As Barack Obama and John McCain drop niceties for harsh politicking, interest groups are seeing a thumbs-up from the candidates to bombard Americans with millions in provocative TV, mail, and Web ads. Groups including unions, MoveOn, the Minutemen, and pro-life BornAliveTruth are planning ads, the New York Times reports, including ones that link...
Insurers Balk at Paying for Autism Therapy
Boston Globe
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Sep 16, 2008 6:33 PM CDT
(Newser) -
A national autism advocacy group is pushing insurance companies to pick up the tab for intensive new therapies now footed by local school districts, the Boston Globe reports. They say the rising number of autism cases will swamp school budgets and make it unlikely that kids will get the help they need. On the flip side, pushing insurers into the...
Todd Palin Is Alaska's (Unelected) Cheney
Salon
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Sep 16, 2008 6:07 PM CDT
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Todd Palin isn’t just Alaska’s “First Dude,” Mike Madden reports in Salon—Sarah Palin’s husband plays a nebulous but obviously major role in her administration. Todd is involved in both personnel and legislative decisions, getting copied in on many official e-mails, and working directly with legislators. Some call...
Morgan Stanley Profit Dips, But Easily Beats Forecasts
Bloomberg
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Sep 16, 2008 5:40 PM CDT
(Newser) -
Morgan Stanley reported a 3% percent drop in third-quarter earnings but easily beat Wall Street expectations, Bloomberg reports. The investment bank's profit fell to $1.43 billion, or $1.32 per share from $1.47 billion, or $1.38, a year ago. Analysts expected 78 cents a share. The relatively good news came at the end of another volatile day on Wall...
Bush Follows Ike to Texas
Washington Post
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Sep 16, 2008 4:56 PM CDT
(Newser) -
President Bush visited Houston and took an air tour over Galveston today, urging Americans to continue contributions to the Red Cross and other charities and promising timely aid from state and federal governments, the Washington Post reports. Meanwhile, Houston Mayor Bill White grumbled about a slow FEMA response to his city, which still has 1.6...
Skip the Cocktail (and Hangover), Get a Promotion
New York Post
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Sep 16, 2008 4:34 PM CDT
(Newser) -
Fashion-industry parties are known for being boozy, but some insiders are staying sober to help give their careers an edge, Page Six magazine reports. "Sobriety has made me productive—to a deranged degree," says Barneys' creative director, who quit drinking 20 years ago. Maybe the teetotalers are on to something: Anna Wintour and...
Shortest Man Meets Leggiest Woman
Associated Press
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Sep 16, 2008 4:12 PM CDT
(Newser) -
London's Trafalgar Square routinely serves as a stage for mimes, jugglers, and other acts, but the tourist attraction drew an exceptionally curious crowd today when the shortest man who can walk met the woman with the longest legs, the AP reports. He Pingping of China stands precisely 2 feet 5.37 inches tall. Svetlana Pankratova of Spain, a Russian...
Fed Considers AIG Bailout; Ex-CEO Weighs Proxy Fight
Bloomberg
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Sep 16, 2008 3:55 PM CDT
(Newser) -
Reversing course, the Fed is considering a bailout package to help boost the liquidity of suddenly beleaguered AIG, even as the mega-insurer's ex-CEO considers a move to take control through a proxy fight or buyout, Bloomberg reports. In a regulatory filing, Hank Greenberg, who retired under pressure in 2005, says he and other investors may also acquire...
Lehman Bankruptcy Opened Door to Barclays Deal
Wall Street Journal
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Sep 16, 2008 3:41 PM CDT
(Newser) -
Barclays will pick up the US capital-markets business of Lehman Bros. in a $2-billion deal worked out today that will go before a bankruptcy judge at 5pm and Lehman creditors shortly after that, the Wall Street Journal reports. Barclays backed away from buying all of Lehman over the weekend, but a deal was salvaged by Lehman's bankruptcy, which made...
Rangel Won't Step Down From Tax Panel
New York Times
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Sep 16, 2008 3:34 PM CDT
(Newser) -
New York Rep. Charles Rangel will remain in his post as chairman of the House Ways and Means Committee while an ethics investigation takes place, the New York Times reports. House Speaker Nancy Pelosi supports the move, said his attorney, and Rangel "believes that the facts should prevail, not innuendo or editorial opinion.” Rangel is...
Fluctuating Markets Close Up
Bloomberg
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Sep 16, 2008 3:17 PM CDT
(Newser) -
As AIG's future became somewhat clearer, the wildly fluctuating markets settled into positive territory at the end of today's session. Rumors that the Fed will bail out the mega-insurer helped nearly erase a 74% decline, Bloomberg reports. The Dow closed up 141.51 at 11,059.02, the Nasdaq gained 22.45 to 2,202.36, and the S&P 500 rose 20.86 to...
Social Networking Deposes Porn as Web King
Reuters
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Sep 16, 2008 2:58 PM CDT
(Newser) -
Porn is no longer king online, thanks to the social-networking sites where people—particularly 18- to 24-year-olds—have become addicted to less X-rated forms of sharing, a Web analyst tells Reuters. “My theory is that young users spend so much time on social networks that they don't have time to look at adult sites,” says Bill...
McCain Sheds Honor in Heat of Campaign
Washington Post
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Sep 16, 2008 2:45 PM CDT
(Newser) -
John McCain's dishonesty in this race has turned him into the kind of politician the candidate once professed to hate, writes Richard Cohen—a one-time fan of the Arizona senator—in the Washington Pos t. McCain’s lies—most blatantly expressed on The View in response to a question about misleading ads—"would be unacceptable...
Thain Made Most of Merrill's Ugly Position
Slate
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Sep 16, 2008 2:34 PM CDT
(Newser) -
As the credit market self-destructed, Merrill Lynch and Lehman Brothers faced similar problems. The difference, Henry Blodget writes in Slate, is that Merrill’s John Thain played his cards right, and Lehman’s Dick Fuld didn’t. Brought in to clean house after Stan O’Neal’s high-risk strategy exploded, Thain immediately...
'Social Siberia' Isn't Just a Metaphor
New York Times
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Sep 16, 2008 2:22 PM CDT
(Newser) -
Icy stares and chilly receptions can leave you feeling—well, cold. Metaphors about social behavior, like "warm welcome" and "cold shoulder," seem to relate to physical reality, new research finds. People who had experienced and recalled social rejection perceived a 5-degree temperature drop in the lab and experienced...
Her Golden Parachute Fine With McCain
ABC News
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Sep 16, 2008 2:10 PM CDT
(Newser) -
John McCain and Sarah Palin made a point yesterday of blasting CEOs who left their companies with multimillion-dollar golden parachutes while workers and shareholders suffered. But McCain’s top economic adviser deployed just such a shiny parachute when Hewlett-Packard ousted her, ABC News reports. Carly Fiorina pocketed $45 million, even as the...
Volt's Looks Kill Some GM Buzz
CNN
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Sep 16, 2008 1:58 PM CDT
(Newser) -
GM offered its first official look today at the plug-in Chevrolet Volt, CNNMoney reports, the electric car slated to go on sale in 2010. Its tame appearance drew the ire of gearheads hoping it would look more like the futuristic concept version. "A lot of people are saying they're very disappointed and 'take me off the [waiting] list,' "...
Palin Plans Meet-and-Greet at UN Next Week
Wall Street Journal
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Sep 16, 2008 1:45 PM CDT
(Newser) -
John McCain plans to introduce Sarah Palin to foreign leaders at the United Nations next week to boost her foreign-policy experience, the Wall Street Journal reports. McCain advisers say they hope the running mate will demonstrate her diplomatic prowess and understanding of foreign-policy issues during the visit Tuesday, the same day President Bush...
Fed Holds Line on Interest Rates; Markets Bounce
Wall Street Journal
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Sep 16, 2008 1:38 PM CDT
(Newser) -
In its first unanimous interest rate decision in a year, the Federal Reserve voted today to leave its key interest rate unchanged at 2%. The decision reflects regulators' unwillingness to get even more involved in the developments roiling the financial markets, the Wall Street Journal reports. Stocks fell triple-digits on the news that an anticipated...
Cruel TV Makes for Crueler Viewers: Study
USA Today
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Sep 16, 2008 1:32 PM CDT
(Newser) -
Psychologists have long known about the link between on-screen violence and real-life aggression, but a new study suggests video cruelty has much the same effect, USA Today reports. Groups of subjects shown either footage from Mean Girls of the hands-off hostility known as "relational aggression" or a knife fight from Kill Bill were...
