GM cuts 21000 Jobs; Swine Flu Scares YouTubers

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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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