Business News Archive - May 09, 2009

Congress Seeking to Destroy Millions of Replacement Car Parts While Questions Abound on New Parts Supply Chain Viability FAIRFAX, Va., May 9 /PRNewswire/ -- All across the world, governments are implementing early vehicle retirement programs that are intended to help struggling automakers.

Building Safety Week is May 3-9, 2009 WASHINGTON, May 9 /PRNewswire-USNewswire/ -- During Building Safety Week 2009, the International Code Council Foundation provided a Daily Dose of news consumers could use to save money and prevent disasters.

An Illinois experimental biotech company says it's closing its doors after failing to win U.S.

The Obama administration will try to wring $60 billion in new taxes from wealthy estates and U.S.

A real estate-damaged Washington state bank has been seized by regulators and turned over to the Federal Deposit Insurance Corp., officials said. Westsound Bank of Bremerton, Wash., was taken over Friday by the Washington Department of Financial Institutions, which claimed the bank had severe asset problems, significant losses and inadequate capital, mostly as a result of soured real estate loans, The Seattle Times reported. In a prearranged move, the FDIC assigned most of the bank's deposits and $49.3 million in assets to Kitsap Bank of Port Orchard, Wash., the newspaper said.

U.S. telecommunications company AT&T Inc. says it has agreed to buy some assets of competitor Verizon Wireless to meet Verizon's antitrust requirements. Verizon's move along with Vodafone Group PLC to purchase Alltel Corp. for $28.1 billion this year included a requirement from U.S.

Ameren Illinois Utilities Aim to Complete Restoration by Midnight Tuesday MARION, Ill., May 9 /PRNewswire-FirstCall/ -- With a small army of more than 1,200 men and women working to restore power to about 63,500 Southern Illinois electricity customers, the Ameren Illinois Utilities have set a goal of completing the restoration effort by midnight on Tuesday, May 12. Winds described as an "inland hurricane" toppled hundreds of utility poles, brought electric wires to the ground, slammed trees into transmission lines and damaged equipment in Carbondale, Marion and surrounding areas, according to Ron Pate, Ameren Illinois Utilities (AIU) vice president of Regional Operations.


US Transportation Secretary Ray LaHood says California and Florida are on the fast track for federal funding for high-speed rail systems.

JetBlue might decide to leave its New York corporate headquarters if the city does not give the airline a reason to stay, sources told the New York Daily News. The newspaper reported Saturday that the discount airline wants incentives to remain in its Queens corporate headquarters after its lease expires in 2012. The company is considering five potential corporate locations.

Word of the Day
  • The parings of haberdine; also, any kind of fragments.
The word 'gubbings' is a variant of the word 'gobbon', meaning 'a portion, gobbet.'