Jack Welch Attacks Obama

Jack Welch, former chief executive officer of General Electric Co., criticized the government- backed bankruptcy of Chrysler LLC for favoring unions at the expense of creditors and said President Barack Obama’s economic stimulus programs will cause budget deficits..

www.bloomberg.com

Big changes in store for US credit cardholders

Every American with a credit card will see sweeping changes in the market, with limits on sudden hikes in interest rates that drive consumers deeper into debt. Even cardholders who pay off their balance each month may face new annual fees or lose out on lucrative rewards programs...

http://news.yahoo.com

Stocks in U.S. Fall on Concern Over Lending Restrictions;

U.S. Steel Gains U.S. stocks retreated, erasing gains in the final hour of trading for a second day, as the Federal Reserve predicted a deeper recession and concern grew that credit-card issuers will be hurt by new lending restrictions.

www.bloomberg.com

Madoff Scandal: Talon Seeks Order for Madoff Trustee to Pay Jet Fees of $47,000

Talon Air Inc. asked a bankruptcy judge to order the trustee liquidating Bernard Madoff’s defunct money-management firm to pay $47,217 owed for maintenance and servicing of a $25 million private jet that was used by Madoff..

www.bloomberg.com

GMAC Said to Get $7 Billion to Fund Chrysler, GM Customers

GMAC LLC, the auto and home lender that was bailed out in December, will receive more than $7 billion in government funds to provide financing for customers of Chrysler LLC and General Motors Corp., according to two people familiar with the matter..

www.bloomberg.com

General Motors may file bankruptcy, leave Detroit

General Motors is open to considering moving its headquarters from Detroit, selling off U.S. plants and even renegotiating parts of its restructuring plan with its major union, the new chief executive said Monday..

www.cnbc.com

Microsoft moves forward on plan to ax 5,000

Microsoft Corp. is pulling the trigger on thousands of the 5,000 job cuts it announced in January.

When Microsoft announced its first-ever companywide layoffs, the software maker cut 1,400 of the jobs it said it would slash, with the rest coming over an 18-month period..

www.msnbc.com

WELCOME TO AMERICA: Hundreds of thousands of jobs have vanished forever. Millions of people who were fired or laid off will find it harder..

Hundreds of thousands of jobs have vanished forever in industries such as auto manufacturing and financial services. Millions of people who were fired or laid off will find it harder to get hired again and for years may have to accept lower earnings than they enjoyed before the slump..

www.bloomberg.com

Acer's 11.6-inch Aspire One gets a spec list, release date

We've already gotten a good look at Acer's new 11.6-inch Aspire One netbook, and even gotten word of some of the specs, but it looks like Acer has now removed any last bit of mystery on its German website, where it has finally let loose a complete spec list..

www.engadget.com