Jobless Claims, Auto Bailout in Focus Today
This morning, we will get another update on the country's unemployment situation, which appears to be getting weaker by the week. The jobless claims for the week of December 13 will be released at 8:30 a.m.
Also today, we'll look for more news on the Bush administration's plans to aid the automakers. The financial situation for the Big Three, or at least two of the three, appears to be getting bleaker by the day as Chrysler announced yesterday it would idle all of its plants into next year.
The Wall Street Journal reports that General Motors and Chrysler merger talks are back on as their financial conditions get worse. And the New York Times reports on the intimate role Treasury Sec. Hank Paulson is playing in the auto bailout. A report today says that Paulson is working on a long-term reorganization of the companies, including turning their financing arms into government-regulated banks.
Check back here for more updates throughout the day.
The comments to this entry are closed.