June 16, 2009 12:26 PM
by Web Producer
Rep. Darrell Issa, ranking Republican on the House Committee on Oversight and Government Reform, has sent a letter to White House counsel Gregory Craig asking for information regarding the firing of AmeriCorps inspector general Gerald Walpin.
Posted Under: Required Reading
June 9, 2009 12:11 PM
by Web Producer
Supporters of presidential czars say the positions are helpful by focusing attention on a big issue and making someone responsible for it. Critics claim they can lead to turf fights and add another cumbersome bureaucratic layer to government.
A look at how recent presidents have expanded the number of czars:
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June 8, 2009 12:26 PM
by Web Producer
The Obama administration has just filed paperwork with the Supreme Court asking the justices to deny the emergency relief some of its creditors are seeking.
In a brief filed by Solicitor General Elena Kagan, the administration argues that the New York bankruptcy court's ruling that Chrysler's sale to Fiat is "the only feasible alternative to liquidation of Chrysler's assets" and that the Indiana pensioners and others seeking the emergency relief would receive no more money under a liquidation.
Kagan writes: "Those findings were central both to the court's determination that applicants lack standing to challenge the use of TARP funds and to the court's ultimate decision to approve the sale. Applicants make no meaningful effort to show that either of those findings is wrong, much less to demonstrate that review of those findings is an appropriate use of this Court's resources. The application for a stay should therefore be denied."
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June 8, 2009 12:24 PM
by Web Producer
A small but persistent group of lenders has turned to the U.S. Supreme Court in its last attempt to challenge the government-backed sale of Chrysler's assets to a company run by Italian automaker Fiat.
Three Indiana state pension and construction funds late Saturday filed documents requesting that the sale be delayed so that the Supreme Court can hear their appeal. Two lower courts have already rejected the lenders' objections. On Friday, the U.S. Court of Appeals for the 2nd Circuit ruled the sale could go forward after 4 p.m. today or earlier if the Supreme Court declines to take up the case.
Posted Under: Required Reading
June 8, 2009 12:18 PM
by Web Producer
Which states have tried to reject stimulus funds?
> Alabama: Republicans filibustered to kill a Democrat-backed bill to accept an additional $99 million in stimulus money which required legislative approval (the stimulus aid would require a change in state law to make about 20,000 more unemployed people eligible for benefits.)
[Source: "Davis, Riley bicker over stimulus cash: Davis says funds aren't reaching parts of his district fast enough," Tuscaloosa News, May 30, 2009]
> Alaska: Gov. Sarah Palin vetoed $28.6 million in federal stimulus money for energy cost relief (Alaska is the only state to have rejected these funds.) Palin said she vetoed the money because taking it would require her to promote the adoption of energy efficiency codes throughout the state. That should be a local decision, she argues, not a dictate from the federal government. Alaska legislators are confident that they have the necessary votes to overturn her veto
[Source: "Lawmakers muster votes to override governor," Anchorage Daily News, June 5, 2009]
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Posted Under: Required Reading
June 3, 2009 2:57 PM
by Web Producer
"U.S. counterterrorism officials have authenticated a video by an Al Qaeda recruiter threatening to smuggle a biological weapon into the United States via tunnels under the Mexico border, the latest sign of the terrorist group's determination to stage another mass-casualty attack on the U.S. homeland."
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June 2, 2009 3:24 PM
by Web Producer
Meet the key members of President Obama's auto task force:
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May 28, 2009 3:13 PM
by Web Producer
American Progress Action Fund conference: Background on Fund and Attendees
I. Center for American Progress Action Fund
A. Background
> The Center for American Progress Action Fund is headed by John D. Podesta, former chief of staff to President William J. Clinton and a professor at Georgetown University Center of Law.
> It describes itself as a "progressive think-tank dedicated to improving the lives of Americans through ideas and action."
> It is established as a non-profit organization under section 501(c)(4) of the Internal Revenue Code.
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May 27, 2009 1:42 PM
by Web Producer
Automaker expected to announce that only a small fraction of the holders of its $27 billion in bonds agreed to swap that unsecured debt for a 10 percent equity share of a recapitalized GM.
In the end, General Motors' massive cash needs likely trumped any chance of the automaker avoiding a bankruptcy court-supervised reorganization.
Posted Under: Required Reading
May 19, 2009 1:13 PM
by Web Producer
China's state-owned Minmetals, founded in 1950, is the country's largest base metal trader, mainly engaged in the mining, smelting, production and trade of basic metals and raw materials. It competes with the other big state-run trader Sinosteel in iron ore and steel.
The company plans to secure more resources by intensifying operations in five areas: ferrous metals, non-ferrous metals, finance, real estate and logistics.
At the same time, Minmetals has been buying resources both at home and abroad, in line with Beijing's policy of securing raw materials to feed the country's huge manufacturing sector.
Recent Deals
> Feb. 16, 2009: Offers $1.7 billion for Australia's Oz Minerals Ltd.
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