Government and Economy
How the President Should Help Entrepreneurs
Entrepreneurs and experts offer their suggestions, which ranged from making health care more affordable and streamlining paperwork to out-of-the-box ideas like giving banks access to the Federal Reserve's discount window based on their increase in lending to small businesses.
Kiplinger: Unemployment May Hit 9% Mounting job losses and the troubled auto industry are putting more pressure on Congress to stimulate the economy, but will it work? Kiplinger predicts that 2009 could see 3 million jobs lost and an unemployment rate as high as 9%.
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After that first, humiliating round before Congress, it looks like the automakers have learned a few things: Ford's CEO Alan Mulally promises to work for $1 per year if Ford has to accept government money. What's more, the Ford plan cancels all management employees' 2009 bonuses and merit pay increases for its North American salaried employees. The company also plans to sell its fleet of five corporate aircraft. Similar steps are also promised for the other two automakers. Mulally and GM CEO Rick Wagoner have also announced that they will return to Washington by car this time, rather than by private jet. Chrysler CEO Robert Nardelli will also take a pass on the corporate jet, but his travel plans are secret due to security concerns.
The companies are also looking to swap debt for equity as well as to off-load brands and subsidiaries. GM, for example, is looking at the sale of... [Read Full Article]