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Carpocalypse Now
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Carpocalypse Now
Big Three Carmaker CEO's Pledge To Take $1 Salary In Return For Bailout Bucks
The CEOs of Ford, GM, and Chrysler have all agreed to take only a $1 salary if the government will pretty pretty pretty please with killed-electric-car-on-top bail them the out. [CNNMoney] (Thanks to DjDynasty!) (Photo: Nrbelex)
your taxdollars at work
AIG Swaps "Retention Bonuses" For Annual Bonuses
In order to get a giant honking bailout from Congress, AIG pledged it would give up executives annual bonuses, but guess what? They found a way to give them anyway. More »
dirty tricks
Observer At Center Of Exciting Criminal Conspiracy, Maybe!
FROM GAWKER.COM: Did you know the Observer is subsidized by an illicit slush fund? It shamefully is, according to a lawsuit filed by the former president of one of the Kushner Companies. More »
meltdowns
Recession officially a year old
FROM VALLEYWAG.COM: What, now they tell us? A recession is not a recession until the number-driven meritocrats of the National Bureau of Economic Research declare it to be one. More »
black friday
Black Friday Sugar Rush Won't Last For Retailers
While Black Friday revenues were up from last year, retailers are just getting a quick high. The crash starts tomorrow. More »
department of no shit
US In Recession Since Dec '07, Says Official Stat Group
We've been in a recession since December 2007, according to a fancypants stat group. WSJ reports, "In a statement, the National Bureau of Economic Research said its Business Cycle Dating Committee determined that the U.S. entered recession in December 2007, marking the end of the economic expansion that began in November 2001." I don't think Americans need a committee to tell them the economy has been on the express the train to Suck City for over a year... More »
meltdowns
We can't even afford chicken feed
FROM VALLEYWAG.COM: The recession has an upside, right? As consumers cut back, austerity trend pieces told us chicken was supposed to supplant beef as what's for dinner. But Pilgrim's Pride, the large poultry producer, has gone bankrupt right after Thanksgiving.The Chapter 11 filing was brought on by high feed costs, a... More »
money meltdown
WaMu Told Washington That Adjustable Rate Mortgages Were Safer Than Some Fixed Ones
The Associated Press says that a review of regulatory documents shows that years before the subprime mortgage crises developed into a full blown economic meltdown— the government ignored warnings and listened instead to lobbyists who represented some of the same banks that have now failed. More »
Carpocalypse Now
GM Asks FAA To Bar Public Tracking Of Leased Corporate Jet, Still Asks Public For Money
FROM JALOPNIK.COM: In yet another stunning display of GM's critical lack of understanding of the importance of transparency when asking for public assistance has asked aviation regulators to block the public's ability to track the company's leased private planes. More »
the panic of '08
Ailing Time Can't Even Sell Out Right
FROM GAWKER.COM: "By the time the [Time Style & Design] issue hit newsstands in late November, reports suggested people were not buying much of anything, much less the $36,000 cellphone, $1,000 skin cream or Fendi Persian lamb jacket 'misted with gold particles' featured in the issue." [Times]
Branding
Obama Picks His Catchphrase: 'A New Beginning'
FROM GAWKER.COM: Did you happen to catch Barack Obama's weekly camboy YouTube this Thanksgiving? Earnest and adorable as ever, the Office of the President Elect was unsubtle in its marketing; More »
shenanigans
The "Downsized Holiday": Ur Doin It Wrong
FROM JEZEBEL.COM: Alex Williams wanted to throw a holiday dinner party, but in this economy, he found it difficult to throw a proper shindig on a budget, and so he enlisted the help of David Monn, a party-planner who made it his mission to help Williams throw a "downsized" feast for his guests. More »
celebrity science
How To Lose Weight Like Horatio Sanz
FROM GAWKER.COM: Have any excess weight? Might you after the holidays? It's getting easier to follow in the increasingly shallow footsteps of Horatio Sanz, the former Saturday Night Live castmember who told New York he'd lost about 100 pounds. More »
Carpocalypse Now
You Know Times Are Tough When...
FROM JALOPNIK.COM: ...you spot a Rolls-Royce Phantom Coupe in front of you in the McDonald's drive-through. Also, the driver's ordering from the value meal menu. Oh, and it's not Britney Spears behind the wheel. More »
recession watch
Airfares Sinking Due To Lack Of Demand
The crappy economy is taking its toll on airfares. Demand is sinking taking airfares with it, says USAToday. More »
change
Obama Defense: Insiders Haven't Been Inside In Years!
FROM GAWKER.COM: People criticize President-Elect Hopey Hussein McGee for promising "change" and then appointing "people with experience in Washington." At his press conference today, he was asked about all the grizzled white dudes from Washington he keeps hiring to fix the economy. More »
meltdowns