UAW to renegotiate labor terms, modify jobs bank
DETROIT -- The United Auto Workers said Wednesday it is willing to change its contracts with U.S. automakers and accept delays payments of billions of dollars to a union-run health care trust to do its part to help the struggling companies secure $34 billion in government loans.
'There is no Plan B,' an executive says. The Big Three automakers now seek as much as $34 billion in U.S. aid. >>

WASHINGTON -- Financial industry lobbyists are urging the Treasury Department to take steps to lower mortgage rates in an effort to stabilize the housing market. >>

December 4, 2008
The latest evidence of a deepening recession that's already the longest in a quarter-century came Wednesday in a pair of reports that found little relief in sight. >>

NEW YORK -- Wall Street withstood another stream of bad economic readings Wednesday, closing sharply higher as investors shuttled between pessimism about the recession and hopes that the nation might start seeing relief soon. The major indexes saw big swings throughout the day, but all closed up more than 2 percent, giving the market its second straight advance. >>

WASHINGTON -- Federal regulators today adopted new rules designed to stem conflicts of interest and provide more transparency for Wall Street's credit-rating industry, widely faulted for its role in the subprime mortgage debacle and ensuing credit crisis. >>

SAN FRANCISCO -- Yahoo Inc. is plugging its Internet radio service into CBS Corp.'s webcasting network in a move driven by dramatically higher fees for airing music online. >>

NEW YORK -- Bally Total Fitness Corp. filed for Chapter 11 bankruptcy protection today for the second time in less than two years, hindered by debt and limited refinancing options amid the credit crunch. >>

GARDEN CITY, N.Y. -- The family of a worker trampled to death in a "Black Friday" crush of bargain hunters at a Long Island Wal-Mart store filed a wrongful-death lawsuit today, claiming store ads offering deep discounts "created an atmosphere of competition and anxiety" that led to "crowd craze." >>

Scores of grand-scale facilities are proposed for California. Their possible effect worries environmentalists and others. >>

Firms retool their entertainment practices to cater to the video game industry. >>

Libraries are seeing a rise in traffic as frugal book and movie fans look to borrow rather than buy. >>

Kevin Martin, the agency's chief, wants to provide free wireless access, but he wants it filtered for porn and other objectionable material. That's not the job of the government. >>

In expectation of a future online bonanza, the Screen Actors Guild stands firm on pay for Internet shows even as hard times prompt the studios that produce them cut back. >>

Many Chinese believe it's just a matter of weeks, if not days, before a deal is announced for a theme park in the Asian nation's largest city. But a Disney spokeswoman says there's no deal. >>

Some supporters say an e-mail from the Unite for Strength group is a signal to oppose strike authorization. >>

The offer to work for $1 a year if an auto industry bailout is approved would mean a huge pay cut for Rick Wagoner and Alan Mulally. >>

Investors' hopes are raised by a report that former AOL chief executive Jonathan Miller is trying to raise the capital to buy the Internet firm for $20 to $22 a share. >>

Lockheed Martin clinches a $1.1-billion contract sought by Boeing and Northrop. >>

A bright future?


The company made an attic insulation placed in millions of homes. >>

The company wants to focus on production projects offshore and overseas, an executive says. >>

British Airways and Australia's Qantas Airways Ltd. said Tuesday that they were holding talks about a potential merger, sparking hopes of consolidation in the hard-hit aviation industry. >>

Its OCM European Principal Opportunities Fund II will buy bonds cheaply, then wait for their recovery. The only drawback, its founder says, is there might be 'too much distress' in world markets now. >>

December 2, 2008
A Danish adventurer is first in line to ride aboard a privately funded two-seat rocket ship designed by a California rocket maker to fly about 37 miles above Earth. >>

The company's Contrafund and Low-Priced Stock fund will let in new investors in an effort to rebuild assets after withdrawals and market losses in the last year. >>

December 2, 2008
Entertainment chief Robert Greenblatt has turned around the underdog cable channel with a slate that plays on aberrant behavior -- with shows including 'Dexter,' 'Californication' and 'Weeds.' >>

General Motors, Ford and Chrysler will give lawmakers detailed plans on how they would use federal money to ensure their long-term survival and not just dodge an immediate collapse. >>

The group charged with making the official declaration says recession began in December 2007. >>

The utility's ratepayer-financed plan to outfit 150 buildings with the panels is cheered by business owners but criticized by consumer activists. >>

December 1, 2008
Habits acquired when gas was more than $4 a gallon are still with us, held fast by job insecurity and the belief that prices will rise again. >>

DETROIT -- Ford Motor Co. is considering selling Volvo Car Corp. as the beleaguered U.S. automaker seeks to raise cash and weather a global automotive sales crisis. >>

December 2, 2008
The media mogul sells his majority stake in the failing video game maker for a pittance after pouring in cash. >>

Some documents should remain secret because they might prejudice a grand jury inquiry, jurist says. The Times had requested that the files in the Broadcom co-founder's prosecution be made public. >>

Many retailers slash prices and offer Web-only promotions to boost business after healthy in-store sales and foot traffic on Black Friday dropped off as the weekend progressed. >>

No branch closures in California are planned and fewer than 300 positions will be eliminated in the Southland. >>

Greenwich Financial alleges the deal to cut mortgage payments will hurt investors. >>

A Texas developer has taken over the properties in lieu of foreclosure after its previous owners struggled to make their loan payments. >>

In paying a premium for the maker of liposuction equipment and skin repair products, the healthcare products giant is looking to their long-term value for an aging population. >>

NBC declines to confirm the move. The White House correspondent has long been rumored for the job. >>

Read up on what's happening in the real estate market. Also, click through foreclosure listings and find some Neighborly Advice.
Sallie Hofmeister, Business editor

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