GM Offers to Exchange $27 Billion of Debt for Equity to avoid bankruptcy www.bloomberg.com GM Confirms Plans to Cut Jobs, Eliminate Pontiac •General Motors said it will cut 21000 US factory jobs by next year, www.cnbc.com Chrysler Reaches Labor Accord With US Union, CAW Ratification •Chrysler LLC, racing against an April 30 deadline to cut labor costs or face bankruptcy, reached a tentative contract agreement with its biggest US union and won ratification of an accord with Canadian workers. •UAW members still have to vote on a contract. www.bloomberg.com Obama promises major investment in research and development •Promises to invest 3 percent of GDP •Obama said, “Science is more essential for our prosperity, our security, our health, our environment, and our quality of life than it has ever been,” finance.yahoo.com The US economy will continue to contract for some time to come, •Lawrence Summers, director of the White House National Economic Council •International Monetary Fund said the US economy would shrink 2.8 percent this year and have no growth in 2010, with unemployment rising to 10.1 percent. www.bloomberg.com Stress Tests May Force Banks to Convert TARP Stock www.bloomberg.com Administration declares ‘emergency’ www.politico.com centervilletn www.youtube.com vention4wh www.youtube.com

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Rand Paul (R-Ky.) took an unusual path to his seat in the United States Senate: Though his father, the libertarian Rep. Ron Paul (R-Texas) has spent decades in office, Rand Paul had never previously held public office before winning in 2010. Throughout his campaign, Paul fils identified more with the Tea Party than with the Republican Party, and he ran against the hand-picked candidate of one of the most powerful Republicans in America, Sen. Mitch McConnell (R-Ky.). After trouncing both his primary challenger and the Democratic nominee, Paul did not mention the GOP once in his victory speech last November, saying instead, “Tonight, there’s a Tea Party tidal wave.” Since entering office, the freshman senator has quickly proven himself to be the most interesting and radical voice on Capitol Hill, proposing immediate budget cuts 500 percent steeper than anything else Republicans have contemplated, speaking eloquently against the PATRIOT Act and runaway defense spending, and going bonkers against nanny-state regulations in the home. He’s even taken on the sainted 19th-century Kentucky statesman Henry Clay (“the Great Compromiser”) in a speech that caused McConnell to leave the room. And this all happened just in Paul’s first two months in office. Now the freshman senator has a new book out, The Tea Party Goes to Washington, that discusses his political journey, the intellectual bankruptcy of both major parties, and the urgency of our clear and present fiscal crisis. Reason’s …

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March 24 (Bloomberg) — Bloomberg Law’s Lee Pacchia talks with Bloomberg News bankruptcy columnist and editor-at-large Bill Rochelle about this week’s bankruptcy news and legal developments in Lehman Brothers Holdings Inc., Bernard L. Madoff Securities Inc., and a ruling involving mediation.

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Bankruptcy filings up 22% in August vs. last year www.usatoday.com Dollar touches fresh low for 2009 vs. euro finance.yahoo.com US Girl Scouts prepare for war, pestilence news.yahoo.com Camp Runamuck: A Glimpse of the East Providence Homeless Community www.truthout.org Rompegato www.youtube.com Visionvictory www.youtube.com Endlessmountain www.youtube.com

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March 24 (Bloomberg) — Bloomberg Law’s Lee Pacchia talks with Bloomberg News bankruptcy columnist and editor-at-large Bill Rochelle about this week’s bankruptcy news and legal developments in Lehman Brothers Holdings Inc., Bernard L. Madoff Securities Inc., and a ruling involving mediation.

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Coast-to-coast double-digit college tuition hikes www.msnbc.msn.com Groups Advocate 4 Percent Food Tax www.kpho.com Scientists say ***** HIV/AIDS puzzle for drugs www.reuters.com Top uniformed officer: *** ban should be lifted apnews.myway.com Ex-POW in Iraq war recalls nightmares, depression news.yahoo.com Obama seeks money for nuclear weapons work news.yahoo.com Largest-ever federal payroll to hit 2.15 million washingtontimes.com 824000 jobs will disappear on February 5th www.bloomberg.com Movie Gallery files bankruptcy, to shut 805 stores www.reuters.com

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RADIO www.blogtalkradio.com Obama Pays More Than Buffett as US Risks AAA Rating www.bloomberg.com Obama to sign health bill, take it on the road news.yahoo.com Tea party protesters hurl racial insults at congressmen www.kansascity.com Regulators shut 7 banks in 5 states; finance.yahoo.com Acorn on Brink of Bankruptcy, Officials Say www.nytimes.com

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Arizona-based JB’s Family Restaurants has filed for Chapter 11 bankruptcy. A company spokesman said the economy was to blame and did not comment on possible closures while they try to reorganize.

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An investigation using hidden surveillance cameras inside a Long Island nursing home has led to criminal neglect and other charges against four employees, Attorney General Andrew Cuomo announced Tuesday. (Oct. 7)

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