The "Auto Industry Financing and Restructuring Act"
It's a 37-page PDF document.
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Hawaii
17 years ago
Showing posts with label industry. Show all posts
Showing posts with label industry. Show all posts
Wednesday, December 10, 2008
Bailout News Updates
Panel Overseeing Bailout Criticizes Treasury Department - From Washington Post
"We've been lied to. We've been bamboozled. What we have here is one big mess," said Rep. Davis Scott (D-Ga.), who like several others on the House Financial Services Committee focused on the fact that the hundreds of billions of dollars used to shore up the capital position of banks is not being felt in the form of easier credit for homeowners and businesses.
Democrats and White House Close In on Auto Deal - From NYT
The rescue plan would extend $15 billion in emergency loans to General Motors and Chrysler, the two most imperiled automakers, and would subject them to far-reaching government oversight at the direction of a so-called car czar to be named by Mr. Bush.
Ford is not seeking short-term loans because it is not as bad off as the other two big automakers.
UAW seeking GM board seat -union official - From Reuters
The United Auto Workers union is seeking a stake in General Motors Corp and a board seat as it offers concessions intended to allow the automaker to slash costs and clinch federal aid, a union official said.
$73 an Hour: Adding It Up - From NYT
“We’ve heard this garbage about 73 bucks an hour,” Senator Bob Casey, a Pennsylvania Democrat, said last week. “It’s a total lie. I think some people have perpetrated that deliberately, in a calculated way, to mislead the American people about what we’re doing here.”
So what is the reality behind the number? Detroit’s defenders are right that the number is basically wrong. Big Three workers aren’t making anything close to $73 an hour (which would translate to about $150,000 a year).
"We've been lied to. We've been bamboozled. What we have here is one big mess," said Rep. Davis Scott (D-Ga.), who like several others on the House Financial Services Committee focused on the fact that the hundreds of billions of dollars used to shore up the capital position of banks is not being felt in the form of easier credit for homeowners and businesses.
Democrats and White House Close In on Auto Deal - From NYT
The rescue plan would extend $15 billion in emergency loans to General Motors and Chrysler, the two most imperiled automakers, and would subject them to far-reaching government oversight at the direction of a so-called car czar to be named by Mr. Bush.
Ford is not seeking short-term loans because it is not as bad off as the other two big automakers.
UAW seeking GM board seat -union official - From Reuters
The United Auto Workers union is seeking a stake in General Motors Corp and a board seat as it offers concessions intended to allow the automaker to slash costs and clinch federal aid, a union official said.
$73 an Hour: Adding It Up - From NYT
“We’ve heard this garbage about 73 bucks an hour,” Senator Bob Casey, a Pennsylvania Democrat, said last week. “It’s a total lie. I think some people have perpetrated that deliberately, in a calculated way, to mislead the American people about what we’re doing here.”
So what is the reality behind the number? Detroit’s defenders are right that the number is basically wrong. Big Three workers aren’t making anything close to $73 an hour (which would translate to about $150,000 a year).
Wednesday, July 2, 2008
ATM Breach
Start off the day with something scary here. The four-digit Personal Identification Number or PIN you type into an ATM isn't as safe as you think. Hackers "broke into the ATM network through a server at a third-party processor, which means they probably didn't have to touch the ATMs at all to pull off the heist."
They didn't even touch the ATM! So much for the head-bob, the I-can't-believe-you're-watching-me stare, the body-block or the hand-guard people use when punching in those precious PINs at ATMs and grocery stores everywhere.
So we still have to watch for all those things, but now we can worry that a hacker is stealing our closely-guarded PINs while we sleep.
Of course one of the third-party processor company spokespersons is "confident in the integrity and security of our system."
Will states or Congress act? Should they? Is there something we can do in the meantime besides bite our nails?
If you have any ideas, please post them by hitting Comments below and to the right.
They didn't even touch the ATM! So much for the head-bob, the I-can't-believe-you're-watching-me stare, the body-block or the hand-guard people use when punching in those precious PINs at ATMs and grocery stores everywhere.
In previous PIN thefts, thieves generally took steps that might draw notice — sending "phishing" e-mails, for example, or installing false-front keypads or even tiny cameras on ATMs.
So we still have to watch for all those things, but now we can worry that a hacker is stealing our closely-guarded PINs while we sleep.
Of course one of the third-party processor company spokespersons is "confident in the integrity and security of our system."
Industry standards that call for protecting PINs with strong encryption — which means encoding them to cloak them to outsidersAnd surprise, surprise, industry alone isn't doing its job.
Will states or Congress act? Should they? Is there something we can do in the meantime besides bite our nails?
If you have any ideas, please post them by hitting Comments below and to the right.
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