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Daily Archives: May 14, 2009

WSJ Charts Closing of Chrysler Dealerships

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Follow up to previous postings on Chrysler, this WSJ article, downloadable list, and graphic chart: “Chrysler will close one-quarter of its dealerships in the United States…see names, location details of the 789 dealers the embattled auto maker is seeking to drop from its retail network, according to documents filed Thursday with the U.S. Bankruptcy Court in Manhattan.”

  • News release: “Chrysler LLC today filed a motion with the U.S. Bankruptcy Court seeking to reject certain U.S. dealer agreements, and a list of U.S. dealer agreements to be assigned to the buyer of its business assets. Subject to Court approval, 2,392 Chrysler, Jeep® or Dodge dealers will continue with the new company in a global alliance with Fiat once the sale is complete. This action will help improve the landscape of the Chrysler dealership network following the sale and enhance the full line portfolio of Dodge, Jeep and Chrysler products for customers.”
  • Treasury Department Statement on Chrysler Dealer Consolidation
  • Related postings on financial system

New GAO Reports: Military Depot Maintenance, Aviation Security

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Depot Maintenance: Actions Needed to Identify and Establish Core Capability at Military Depots, GAO-09-83, May 14, 2009: “DOD, through its biennial core process, has not comprehensively and accurately assessed whether it has the required core capability to support fielded systems in military depots. Although DOD internally reported that its maintenance workload of 92.7 million hours… Continue Reading

Chairmen Rockefeller and Lautenberg Introduce National Surface Transportation Policy Bill

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News release: “Today, Senator John D. (Jay) Rockefeller, IV (D-WV), Chairman of the Senate Committee on Commerce, Science, and Transportation, and Senator Frank Lautenberg (D-NJ), Chairman of the Subcommittee on Surface Transportation, introduced The Federal Surface Transportation Policy and Planning Act of 2009. This important legislation establishes a comprehensive and unifying mission for the nation’s… Continue Reading

Treasury and HUD Fact Sheet: Foreclosure Alternatives and Home Price Decline Protection Incentives

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News release: “With the Making Home Affordable (MHA) program delivering much-needed relief to homeowners and to our economy just over two months after the release of program guidelines, Treasury Secretary Tim Geithner and Housing and Urban Development (HUD) Secretary Shaun Donovan today provided an update on the program’s impact on stemming the housing crisis and… Continue Reading

FTC Files Suit to Stop Illegal Robocalls Pushing Vehicle “Warranty” Extensions

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News release: “The Federal Trade Commission is asking a federal court to shut down a telemarketing campaign that has been bombarding U.S. consumers with hundreds of millions of allegedly deceptive “robocalls” in an effort to sell them vehicle service contracts under the guise that they are extensions of original vehicle warranties. In two related complaints… Continue Reading

FDIC OIG Audit: Material Loss Review of Freedom Bank, Bradenton, Florida

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Audit Report: Material Loss Review of Freedom Bank, Bradenton, Florida, Posted May 12, 2009: “FB failed primarily due to bank management’s aggressive pursuit of asset growth concentrated in high-risk CRE loans with inadequate loan underwriting and a lack of other loan portfolio and risk management controls. In addition, FB had a lending incentive compensation program… Continue Reading

Joint Economic Committee Report: Credit Card Bill of Rights Will Aid Economic Recovery

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News release: “Congresswoman Carolyn B. Maloney, Chair of the Joint Economic Committee (JEC), and Senator Charles E. Schumer, Vice Chairman of the JEC, released a report showing unfair credit card practices are sending American families further into debt and undermining the economic recovery. The report, Vicious Cycle: How Unfair Credit Card Company Practices Are Squeezing… Continue Reading

CDC: Pool Chemical Injuries Send Thousands to ER Each Year

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News release: “Pool chemical injuries account for as many as 5,200 emergency room visits each year. A new study by the Centers for Disease Control and Prevention shows that these injuries are preventable, and during 2007 almost half of those injuries occurred at a residence. According to the study, published in CDC’s Morbidity and Mortality… Continue Reading

Kaiser Foundation Chartpack and Fact Sheet Highlight Medicare's Fiscal Challenges

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Follow up to Social Security Board of Trustees: Economic Downturn Leads to Worsening of Long-Range Financing Outlook, this news: “the Kaiser Family Foundation has issued a new chartpack and factsheet with updated information on Medicare spending and financing, including new projections and historical data about the program’s hospital trust fund, which is projected to be… Continue Reading

Statistics on Terrorism Arrests and Outcomes Great Britain

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Home Office Statistical Bulletin: Statistics on Terrorism Arrests and Outcomes, Great Britain 13 May 2009 – 11 September 2001 to 31 March 2008. “For the period between the start of the data collection on 11 September 2001 to 31 March 2008: There were 1,471 terrorism arrests. This excludes 38 arrests made between the introduction of… Continue Reading