Jobless Rate Rises in US, Europe

By VOA News

Unemployment has risen in the United States and Europe, with the U.S. jobless rate hitting a 26-year high in June.

Thursday's report from the U.S. Labor Department said the U.S. economy had a net loss of 467,000 jobs for the month. That pushed the unemployment rate up slightly one-tenth of a percent to 9.5 percent.


People queue outside a Madrid, Spain job center on 04 May 2009
In Europe, unemployment among the 16 nations that use the euro rose two-tenths of a percent to hit a 10-year high of 9.5 percent in May.

Many other economic indicators have recently improved, or at least are declining at a slower rate. But economists said the job market lags behind other sectors because employers want to see stronger signs of economic growth before they start to re-hire people.

Sears Tower unveils 103rd floor glass balconies

By KAREN HAWKINS

CHICAGO (AP) — Visitors to the Sears Tower's new glass balconies all seem to agree: The first step is the hardest.
The balconies are suspended 1,353 feet in the air and jut out four feet from the building's 103rd floor Skydeck. Their transparent walls, floor and ceiling leave visitors with the impression they're floating over the city.
"It's like walking on ice," said Margaret Kemp, of Bishop, Calif., who said her heart was still pounding even after stepping away from the balcony. "That first step you take — 'am I going down?'"
Kemp was among the visitors who got a sneak preview of the balconies Wednesday. "The Ledge," as the balconies have been nicknamed, open to the public Thursday. Visitors are treated to unobstructed views of Chicago from the building's west side and a heart-stopping vista of the street and Chicago River below — for those brave enough to look straight down.
John Huston, one of the property owners of the Sears Tower, even admitted to getting "a little queasy" the first time he ventured out. But 30 or 40 trips later, he's got the hang of it.
"The Sears Tower has always been about superlatives — tallest, largest, most iconic," he said. "Today is also about superlatives. Today, we present you with 'the Ledge,' the world's most awesome view, the world's most precipitous view, the view with the most wow in the world."
The balconies can hold five tons, and the glass is an inch-and-a-half thick, officials said. Sears Tower officials have said the inspiration for the balconies came from the hundreds of forehead prints visitors left behind on Skydeck windows every week. Now, staff will have a new glass surface to clean: floors.
"It's very scary, but at the same time it's very cool," said Chanti Lawrence of Atlanta, adding that she's made her first step toward overcoming her fear of heights.
Adam Kane, 10, of Alton, Ill., rushed to the ledge with his friends and siblings, and they each eagerly pressed their faces to the glass bottom.
"Look at all those tiny things that are usually huge," Adam said.
The balconies are just one of the big changes coming to the Sears Tower. The building's name will change to Willis Tower later this summer. Last week, officials announced a 5-year, $350 million green renovation complete with wind turbines, roof gardens and solar panels.
With the ledge, visitors like Kemp said the nation's tallest building has succeeded in creating something they've never seen before.
"I had to live 70 years for a thrill like this," she said.

Eddie Bauer files for bankruptcy protection

Eddie Bauer files for Chapter 11 bankruptcy court protection

By Mae Anderson

NEW YORK (AP) -- Clothing retailer Eddie Bauer Holdings Inc. filed on Wednesday for Chapter 11 bankruptcy court protection, the latest retail casualty of the recession.


It said CCMP Capital Advisors LLC has bid for its assets. Other buyers may also make bids while the company is under court protection.

The company said in its filing that it is seeking court protection because its financial position was creating uncertainty among vendors that supply its inventory and because its cash flow problems "could severely impede" its operations.

Eddie Bauer said it might not be able to comply with some covenants in its $225 million senior debt or have the cash under its line of credit to make vendor payments in the future.

Eddie Bauer considered refinancing of all or some of its debt, and it considered a reorganization, sale or liquidation through Chapter 11 bankruptcy protection, as well as continued operation on a modified business plan. It now hopes to be sold.

The outdoorsy clothing retailer had $476.1 million in assets and $426.7 million in debt at the time of the filing Wednesday with the United States Bankruptcy Court of the District of Delaware.

Bankruptcy rumors had been swirling as Bellevue, Wash.-based Eddie Bauer struggled with slumping sales amid the recession. It reported a loss for the first quarter of $44.5 million.

Eddie Bauer joins Circuit City, Linens 'N Things, Mervyns and other retail chains that have filed for bankruptcy court protection as consumer spending fell and the recession continued.

Peter J. Solomon Co. has been named financial adviser for the company and Alvarez & Marsal was named restructuring adviser.

Eddie Bauer and CCMP did not immediately return calls for comment.

Mich. gets hit hard in GM's latest plant closings

By KATHY BARKS HOFFMAN

LANSING, Mich. - As General Motors Corp. on Monday named the operations it would close or put on standby as it headed into bankruptcy, Michigan learned it would be taking the brunt of the bad news.

The list includes a truck assembly plant shuttered in Pontiac and engine and transmission plants shut down in Flint, Livonia and Willow Run. A Grand Rapids stamping plant also will close.

An Orion assembly plant will be placed on standby, as will a stamping plant in Pontiac.

Gov. Jennifer Granholm told CNN Monday that Michigan already has lost hundreds of thousands of automotive jobs and will be hurt by the bankruptcy.

She says "it's going to be a tough summer." Some GM workers already are on extended layoffs as the automaker trims production because of lower sales.

Jobless benefits available for Volusia

The federal government has approved disaster unemployment assistance for Volusia County residents who were recently impacted by the severe storms and flooding that hit the area.

Disaster Unemployment Assistance helps people who have become unemployed as a direct result of a declared disaster and who do not qualify for regular unemployment benefits. It also covers those who are self-employed and owners and workers of farms and ranches as well as those who fish for a living.

Individuals can apply online at www.floridajobs.org or www.fluidnow.com. They can also file by telephone at (800) 204-2418, Monday through Friday from 7:30 a.m. to 7 p.m. and on Saturday from 8 a.m. to 4 p.m.

GM Files Bankruptcy to Spin Off More Competitive Firm

By Linda Sandler, Chris Scinta, Bob Van Voris and Jeff Green

June 1 (Bloomberg) -- General Motors Corp., the world’s largest carmaker until its 77-year reign ended last year, filed for bankruptcy protection in the U.S. with a plan to create a 21st-century company that can compete in world markets.

GM reported $82.29 billion in assets and $172.81 billion in debt. The U.S. government will bankroll the transformation of the 100-year-old automaker, a victim of tumbling sales and higher gas prices. The U.S. plans to convert much of its $50 billion of loans to a 60 percent stake in the new entity, administration officials said. Today’s filing coincides with a deadline for GM to convince a government auto task force that it could reorganize out of court through debt and cost cutting.

“It’s been a long time coming, but the reality of a GM bankruptcy is still a bitter pill to swallow -- it’s a bit like the Titanic sinking,” said Stephen Pope, chief global strategist at Cantor Fitzgerald in London. “This is a step they should have taken more than a year ago, which could have put them in much better shape before the economy went down.”

Detroit-based GM is the largest manufacturer to file for bankruptcy, surpassing Chrysler LLC. The carmaker plans to launch a new company in 60 to 90 days, armed with vehicles from its Cadillac, Chevrolet, Buick and GMC units for the U.S. market. A federal bankruptcy judge would supervise the sale or liquidation of unprofitable brands, such as Saturn and Hummer, and at least 11 unwanted factories.

Lyondell Judge

The case was assigned to U.S. Bankruptcy Judge Robert Gerber, who also presides over the bankruptcies of Lyondell Chemical Co. and BearingPoint Inc. He also presided over the bankruptcy of Adelphia Communications Corp.

GM listed in its petition as its top creditors Wilmington Trust Co., representing bondholders owed $22.8 billion; International Union; the United Automobile, Aerospace and Agricultural Implement Workers of America, owed $20.6 billion; and Deutsche Bank AG, owed $4.44 billion.

One idle GM facility in the U.S. will be retooled to make small, fuel-efficient cars as part of an agreement with union workers, GM said May 29.

GM’s Saab unit is reorganizing in Sweden. The German government picked Magna International Inc., a Canadian car-parts maker, to buy GM’s Opel unit.

The Chapter 11 petition filed in federal court in Manhattan makes GM the third-largest bankruptcy in U.S. history, ranked by total assets, after Lehman Brothers Holdings Inc. and WorldCom Inc. Chrysler’s April 30 filing listed $39 billion in assets.

Chrysler Bankruptcy

Auburn Hills, Michigan-based Chrysler plans to transfer most of its assets to a new entity that would be run by Italy’s Fiat SpA. A federal bankruptcy judge in New York approved the deal last night.

Before declaring bankruptcy, GM got $19.8 billion in U.S. Treasury loans. Administration officials said yesterday it would advance $30 billion more, with another $9.5 billion from the Canadian government. A balance sheet in a GM securities filing last week showed total debt in the new GM of $17 billion, excluding obligations to suppliers and warranty programs and including $8 billion in Treasury loans.

The filing put the new-entity loan total from the U.S. and Canadian government at almost $60 billion.

Aside from the U.S. government’s equity share, GM’s pre- filing plan called for a worker health-care fund to get a 17.5 percent stake. Bondholders and other unsecured creditors would get 10 percent and warrants to buy another 15 percent.

Initial Trading

There would be no initial public trading of the shares, some of which will be given to the Canadian government in exchange for loans, an administration official said last week. The company might remain private for as long as 18 months, the official said, asking not to be identified.

GM, being larger than Chrysler, faces more obstacles in mopping up the creditor claims that remain in bankruptcy after the streamlined company is created. GM, reeling from almost $88 billion in losses since 2004, might not return to profitability if U.S. vehicle sales are below 10 million a year, the amount the administration said yesterday the new GM will need to break even.

“Any suggestion that an American corporate icon like GM could file for bankruptcy would have been laughable a few years ago,” said Lynn Hiestand, a lawyer specializing in restructuring with Skadden, Arps, Slate, Meagher & Flom LLP.

GM said in its filing that it owed former unit Delphi Corp. $110.9 million. Other key parts suppliers such as Robert Bosch GmbH, owed $66.2 million, Lear Corp., owed $44.8 million, and Johnson Controls Inc., with a $32.8 million claim, were among the automaker’s top dozen creditors.

Canadian Parts Maker

Magna International Inc., a Canadian car-parts maker leading a group that is expected to buy GM’s Opel unit, was owed $26.7 million, according to court papers. The GM board said in the filing that the asset sale to the U.S. Treasury is “expedient.” Auto Acquisition Corp. is the government entity that will own GM assets, according to the filing. The U.S. and Canada may provide the company with as much as $65 billion in bankruptcy loans, the GM board said, according to the petition

GM said in the filing that it has no objections to a bankruptcy filing by its Canadian unit. The company has $22 billion in bond debt and $20.6 billion in UAW obligations, according to court papers.

Saturn Brand

GM’s Saturn LLC and Saturn Distribution Corp. also filed for bankruptcy court protection today. The Chapter 11 petitions are the “only opportunity for preserving” the Saturn brand, according to the filing.

Today’s filing will trigger credit-default swaps protecting about $3.1 billion of GM debt, in the biggest settlement of the derivatives since September’s collapse of Lehman Brothers. Pricing reflected the risks last week as dealers charged about $8.7 million upfront and $500,000 annually to protect $10 million of debt.

GM had global liabilities of $176.4 billion as of Dec. 31, 2008. Banks such as JPMorgan Chase & Co. secured GM’s revolving loan of about $4.5 billion with inventory, receivables and factories, also providing a $1.5 billion term loan. The face value of its bonds was $27 billion.

The automaker has agreed to take ownership of five production facilities from bankrupt parts supplier Delphi, according to the UAW. The carmaker will employ all union workers at those locations as part of an accord with the union, according to a union document obtained by Bloomberg. The sites are in Saginaw and Grand Rapids, Michigan; Lockport and Rochester, New York; and Kokomo, Indiana.

North American Sales

The carmaker’s North American sales were $86.2 billion in 2008, compared with $34.4 billion in Europe, $20.3 billion in Latin America, Africa and the Middle East, and $17.8 billion in the Asia Pacific region, according to a regulatory filing.

GM sales dropped 33 percent in April.

The automaker was founded in 1908 by William “Billy” Durant, who bought more than 20 car companies before being ousted in a 1920 bailout by Pierre Du Pont and J.P. Morgan.

By the 1960s, GM controlled more than half the U.S. vehicle market. In 2008, it sold only 8.35 million cars worldwide, losing its place as the world’s No.1 automaker to Toyota Motor Corp. as customers opted for the Japanese carmaker’s fuel- efficient Corolla and Camry brands instead of GM’s light trucks and Hummers.

GM’s shares traded at less than a dollar last week after Bloomberg News reported it would file for bankruptcy by today.

Lehman filed the biggest bankruptcy in September, listing assets of $639 billion. WorldCom collapsed in 2002 with assets of $103.9 billion.

GM’s bankruptcy petition was filed by Stephen Karotkin of New York law firm Weil Gotshal & Manges LLP, which is also advising Lehman.

The case is In re General Motors Corp., 09-50026, U.S. Bankruptcy Court for the Southern District, New York (Manhattan).

The UN's World Health Organization has raised the alert over the spread of swine flu to level five - one short of a full-blown pandemic.

The UN's World Health Organization has raised the alert over the spread of swine flu to level five - one short of a full-blown pandemic.
A phase five alert means human-to-human transmission in at least two countries.
The move comes after a 23-month-old Mexican child died in Texas - the first death from swine flu outside Mexico, where the outbreak originated.
In Spain, officials confirmed the first case of swine flu in a person who has not travelled to Mexico.
Announcing the increased alert level, WHO Director General Margaret Chan urged all countries to activate their pandemic plans - including heightened surveillance and infection control measures.
She said action should be undertaken with "increased urgency".

WARNING: Facebook Scam On the Loose, FBAction.net, Steals Passwords

by Pete Cashmore

Facebook is falling prey to a widespread phishing attack today that tries to steal your login and spam your friends.

I’ve got a number of messages in my Facebook inbox with links to “FBAction.net”, a site that displays a fake Facebook login. Enter your details there, and it will spam all your friends with the same message and link. More worrying: you might get locked out of your account for a time until Facebook sorts out this mess.

There is no malicious payload with the attack, it seems: no virus is downloaded or any other nasties: it’s simply a huge nuisance for Facebook users.

As always, don’t enter your Facebook password if the URL is not Facebook.com, and contact Facebook if you’re no longer able to access your account.

Swine flu confirmed in Massachusetts, Maine

Posted by Christine Chinlund

Governor Deval Patrick (left) spoke today about the two swine flu cases in Lowell at a news conference with Dr.JudyAnn Bigby, Secretary of Health & Human Services, and Commissioner John Auerbach of the Department of Public Health.

By Stephen Smith and Kay Lazar, Globe Staff

Disease trackers in Massachusetts and Maine confirmed today that swine flu has arrived in New England, with two boys from Lowell recovering from the viral illness after being exposed while on vacation in Mexico.

Three adults in Maine have tested positive, authorities there said.

Massachusetts Governor Deval Patrick and state health authorities said there is no evidence that the Lowell children, whose names and ages were not disclosed because of patient confidentiality laws, have transmitted the virus.

]Massachusetts disease trackers confirmed today that swine flu has arrived in New England, with two boys from

"None of the contact cases, zero of the contact cases have been symptomatic," Patrick said, emphatically.

Dozens of people who might have had contact with the pair -- relatives, neighbors, playmates -- have either tested negative for swine flu, or shown no symptoms of the respiratory disease. Still, as a precautionary measure, those considered at high risk of flu complications because of underlying medical conditions have been given anti-flu medication.

Lowell's health director, Frank Singleton, said that the boys attend separate private schools but that neither attended classes after returning from Mexico a week ago. One child fell ill Thursday, while the other became sick Sunday, Singleton said. A third sibling is not ill and has returned to school, Singleton said. The boys' parents do not have symptoms either, but both opted to not go back to work.

"They recovering," Singleton said. "They are not very happy because it's not very pleasant to have the flu."

The state Department of Public Health received conclusive word from federal authorities at midmorning that the boys were indeed infected with swine flu, a disease that has stoked widespread fear because humans have no immunity against the ailment.

Patrick's presence at a late morning press conference, flanked by his top health officials, underscored both the concern about the disease and a desire to present a united front against the virus and public anxiety.

"We want the public to know we are prepared," the governor said, "and we want the public to be prepared."

Patrick urged precautions: "If you are sick, stay home from work, and I would ask special sensitivity from employers."

So far, theDepartment of Public Health has tested about 40 samples that doctors sent to the state laboratory because patients had flu-like symptoms and had traveled to regions with reported cases of swine flu. After preliminary testing, only three samples raised red flags and were sent to the US Centers for Disease Control and Prevention in Atlanta. Two of those samples were from the Lowell students; results are pending on the third sample, according to Dr. Alfred DeMaria, the state's epidemiologist.

State health authorities pledged to move swiftly to investigate potential cases and to prevent transmission through measures similar to the contact-tracing that was used in Lowell.

"Our major goal is for swine flu to not spread in Massachusetts," said Dr. JudyAnn Bigby, the state's secretary of health and human services. "We've already had two cases here and it's spread in the United States. So we know there's a chance it can spread here."

In Lowell, parents expressed concern about their own children's health as word spread about the two boys infected with swine flu.

Samantha Frazier, five months pregnant and with a 14-month-old in a stroller, said the viral illness left her "terrified. My kids are my life. I would absolutely lose it if one of them got sick."

Meanwhile, scores of families in the central Massachusetts town of Spencer kept children home from school today after reports that two elementary students were suspected of having swine flu. School officials decided to keep the Lake Street School open despite parents' concerns, as officials awaited definitive lab test results. The students -- believed to be a first grade girl and a third grade boy -- were not identified.
And in Brockton, a hospital spokeswoman said samples from two adults who exhibited flu-like symptoms were sent for testing. One had come to the Brockton Hospital emergency room. The other visited a doctor affiliated with the hospital. Their names, gender and ages were withheld, but hospital spokeswoman Rachel Labas (cq) said both patients had recently been to Mexico.
"At this point, that travel is the differentiating fact," Labas said. "We aren't taking samples for suspected swine flu if they are just exhibiting flu-like symptoms, at this point."
Lou Tartaglia, (cq) director of Brockton's health department, confirmed the two adults are the only suspected cases in the city at this point.

Toddler in Texas becomes 1st swine flu death in US

HOUSTON (AP) — A 23-month-old toddler in Texas became the first confirmed swine flu death outside of Mexico as authorities around the world struggled to contain a growing global health menace that has also swept Germany onto the roster of afflicted nations. Officials say the death was in Houston.
Kathy Barton, a spokeswoman for the Houston Health and Human Services Department, said Wednesday that the child had traveled with family from Mexico to Brownsville in South Texas. The child became ill in Brownsville and was taken to a Houston hospital and died Monday night, she said.
"Even though we've been expecting this, it is very, very sad," Dr. Richard Besser, acting chief of the Centers for Disease Control and Prevention, said Wednesday of the infant's death. "As a pediatrician and a parent, my heart goes out to the family."
President Barack Obama said this morning that Americans should know the government is doing all it can to control virus. Obama also says schools should consider closing if the spread of the swine flu virus worsens.
Canada, Austria, New Zealand, Israel, Spain, Britain and Germany also have reported cases of swine flu sickness. Deaths reported so far have been limited to Mexico, and now the U.S.
As the United States grappled with this widening health crisis, Besser went from network to network Wednesday morning to give an update on what the Obama administration is doing. He said authorities essentially are still "trying to learn more about this strain of the flu." His appearances as Germany reported its first cases of swine flu infection, with three victims.
"It's very important that people take their concern and channel it into action," Besser said, adding that "it is crucial that people understand what they need to do if symptoms appear.
"I don't think it (the reported death in Texas) indicates any change in the strain," he said. "We see with any flu virus a spectrum of disease symptoms."
Asked why the problem seems so much more severe in Mexico, Besser said U.S. officials "have teams on the ground, a tri-national team in Mexico, working with Canada and Mexico, to try and understand those differences, because they can be helpful as we plan and implement our control strategies."
Sixty-six infections had been reported in the United States before the report of the toddler's death in Texas.
The world has no vaccine to prevent infection but U.S. health officials aim to have a key ingredient for one ready in early May, the big step that vaccine manufacturers are awaiting. But even if the World Health Organization ordered up emergency vaccine supplies — and that decision hasn't been made yet — it would take at least two more months to produce the initial shots needed for human safety testing.
"We're working together at 100 miles an hour to get material that will be useful," Dr. Jesse Goodman, who oversees the Food and Drug Administration's swine flu work, told The Associated Press.
The U.S. is shipping to states not only enough anti-flu medication for 11 million people, but also masks, hospital supplies and flu test kits. President Barack Obama asked Congress for $1.5 billion in emergency funds to help build more drug stockpiles and monitor future cases, as well as help international efforts to avoid a full-fledged pandemic.
"It's a very serious possibility, but it is still too early to say that this is inevitable," the WHO's flu chief, Dr. Keiji Fukuda, told a telephone news conference.
Cuba and Argentina banned flights to Mexico, where swine flu is suspected of killing more than 150 people and sickening well over 2,000. In a bit of good news, Mexico's health secretary, Jose Cordova, late Tuesday called the death toll there "more or less stable."
Mexico City, one of the world's largest cities, has taken drastic steps to curb the virus' spread, starting with shutting down schools and on Tuesday expanding closures to gyms and swimming pools and even telling restaurants to limit service to takeout. People who venture out tend to wear masks in hopes of protection.
The number of confirmed swine flu cases in the United States rose to 66 in six states, with 45 in New York, 11 in California, six in Texas, two in Kansas and one each in Indiana and Ohio, but cities and states suspected more. In New York, the city's health commissioner said "many hundreds" of schoolchildren were ill at a school where some students had confirmed cases.
The WHO argues against closing borders to stem the spread, and the U.S. — although checking arriving travelers for the ill who may need care — agrees it's too late for that tactic.
"Sealing a border as an approach to containment is something that has been discussed and it was our planning assumption should an outbreak of a new strain of influenza occur overseas. We had plans for trying to swoop in and knockout or quench an outbreak if it were occurring far from our borders. That's not the case here," Besser told a telephone briefing of Nevada-based health providers and reporters. "The idea of trying to limit the spread to Mexico is not realistic or at all possible."
"Border controls do not work. Travel restrictions do not work," WHO spokesman Gregory Hartl said in Geneva, recalling the SARS epidemic earlier in the decade that killed 774 people, mostly in Asia, and slowed the global economy.
Authorities sought to keep the crisis in context: Flu deaths are common around the world. In the U.S. alone, the CDC says about 36,000 people a year die of flu-related causes. Still, the CDC calls the new strain a combination of pig, bird and human viruses for which people may have limited natural immunity.
Hence the need for a vaccine. Using samples of the flu taken from people who fell ill in Mexico and the U.S., scientists are engineering a strain that could trigger the immune system without causing illness. The hope is to get that ingredient — called a "reference strain" in vaccine jargon — to manufacturers around the second week of May, so they can begin their own laborious production work, said CDC's Dr. Ruben Donis, who is leading that effort.
Vaccine manufacturers are just beginning production for next winter's regular influenza vaccine, which protects against three human flu strains. The WHO wants them to stay with that course for now — it won't call for mass production of a swine flu vaccine unless the outbreak worsens globally. But sometimes new flu strains pop up briefly at the end of one flu season and go away only to re-emerge the next fall, and at the very least there should be a vaccine in time for next winter's flu season, Dr. Anthony Fauci, the National Institutes of Health's infectious diseases chief, said Tuesday.
"Right now it's moving very rapidly," he said of the vaccine development.
Besser appeared on NBC's "Meet the Press," CNN and CBS's "The Early Show."

CDC: How to Protect Yourself Against Swine Flu

WASHINGTON — The acting head of the Centers for Disease Control said Monday that people can best protect themselves against the swine flu threat by taking precautions they were taught as kids, like frequently washing their hands.

Asked what individual steps should be taken, Richard Besser replied: "The things that we learned when we were little, covering a cough ... staying home when you have a fever, frequent hand-washing. If people do these things, it will decrease the spread in our communities."

Besser also said the U.S. government is being "extremely aggressive" in the steps it has taken, or is considering, to protect the American public. He said he didn't think he would personally recommend traveling to parts of Mexico where the new virus has taken hold, but noted that no decision has been made on a possible travel ban.

Besser said he was not reassured by the fact that so far in the U.S., no one has died from the disease.

"From what we understand in Mexico, I think people need to be ready for the idea that we could see more severe cases in this country and possibly deaths," Besser said. "That's something people have to be ready for and we're looking for that. So far, thankfully, we haven't seen that. But we're very concerned and that's why we're taking very aggressive measures."


Besser said there can be no one-size-fits-all approach when the severity of the problem varies from area to area. "You cannot see an outbreak occur at the same level in all places," he said.

He also said the government has worked hard to have the necessary medications in place in such a scenario and already has begun distributing them to states.

Asked in one interview why the United States was not issuing travel bans and quarantining passengers at airports, as some countries have done, Besser said: "We are being extremely aggressive in our approach to this outbreak and each day we're evaluating what we're undertaking and we'll make additional measures as necessary. What you're going to see in an outbreak like this is different things taking place in different parts of the country based on what's going on there."


"What we're going to be doing at the borders, and that will be taking place starting today, is doing passive screening, asking people about fever and illness, looking for people who are ill and handing out cards that let people know what's going on in Mexico and what's going on here so people can take action to protect and prepare," Besser said.

The CDC was posting guidelines on its Web site Monday for health departments and members of the public to decide what to do in the event of illness.

Besser appeared on NBC's "Today" show, CBS's "The Early Show," and ABC's "Good Morning America."

Freddie Mac CFO David Kellermann found dead

Police say there are no signs of 'foul play' in the death of David Kellermann.



NEW YORK (CNN) -- The acting chief financial officer of mortgage financier Freddie Mac, David Kellermann, was found dead Wednesday morning, police said.

Eileen Fitzpatrick, a spokeswoman for Freddie Mac, confirmed the death.

Police are investigating the death as an apparent suicide, WTOP-FM reported, quoting Mary Anne Jennings, a spokeswoman for police in Fairfax County, Virginia.

Authorities said there were no signs of foul play when officers were called to Kellermann's home on Raleigh Hill Road shortly before 5 a.m., according to Fairfax County police spokeswoman Lucy Caldwell.

"At this point there are no signs of foul play," Caldwell said. "It's under investigation. I don't believe we have categorized it yet at this point."

Kellermann, 41, who also served as the company's senior vice president, had been with the company for more than 16 years.

He was named to those positions in September 2008, and was responsible for the company's financial controls. This included overseeing the company's financial reporting, compliance with tax requirements and regulations, and annual budgeting and financial planning.

Kellerman reported to former CEO David Moffett.

Before assuming his current posts, Kellerman was senior vice president, corporate controller and principal accounting officer.

Kellerman held a master's degree in finance from George Washington University and a bachelor's in political science and accounting from the University of Michigan. He has served as a volunteer board member of the District of Columbia Coalition for the Homeless.

Freddie Mac (FRE, Fortune 500) was established by Congress in 1970 to provide liquidity, stability and affordability to the nation's residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders.

Cars for $1,000, carsforagrand.com

JACKSONVILLE, FL -- One company says it's possible to have a safe, reliable car that won't cost you an arm and a leg.

The young entrepreneurs behind carsforagrand.com drove a clunker into Jacksonville for a little show-and-tell.

The "show" isn't much to look at: a white, beat up, 1974 Pontiac LeMans.

But the businessmen say the car "tells" a good story.

"We were two weeks removed from a $19 billion bailout of GM and here we bought a General Motors car 35 years old for $900 that's made it 3300 miles and feels honestly like it can make it another 3300 no problem," said Chris Hedgecock.

The two men bought the car off the web site, pumped in about $200 worth of maintenance before driving the car from California to Jacksonville to prove their point.

Despite losing a window frame in Texas, and sitting through shaky air conditioning, the guys say the car held up during the adventure.

The men say the web site matches people with cheap rides in their area. All you do is enter your zip code and the web site comes up with a list of budget-mobiles in your area.

NEW ORLEANS -- A man driving across the country to prove that cheap, used cars are reliable made a stop in New Orleans to share his message.
Chris Hedgecock stopped for a break on a long road trip in his 1974 Pontiac LeMans. He bought the car for just under $900 through a Web site he created two years ago, CarsForAGrand.com.
"It just grew in popularity and we were really impressed with the response we got," Hedgecock said.
He said the Web site generates about five sales a day nationwide -- all of used cars under $1,000.
"We don't make any guarantees," he said. "We're basically a tool for people to find other people who are selling cars."
The used cars don't come without challenges.
"When we got it, the battery was bad," Hedgecock said about the car he bought. "We went ahead and got a new battery from Wal-Mart. We did a little homemade ducting work on the air intake. We replaced all the fluids, replaced the belts."
But he said after $200 in repairs, the car was ready to hit the road from San Diego to Miami. He said it hasn't had any problems along the way.
Hedgecock said when he gets home, he won't have to make car payments.
"You might have to learn how to fix a car yourself, but at the end you're going to have a car and no debt," he said.
The Better Business Bureau said anyone looking for a used car should make sure the make, model, options and warranty are clearly defined, and be sure to read and understand the terms of the contract before signing.

Obama girls name their new puppy 'Bo'

By PHILIP ELLIOTT, Associated Press Writer

WASHINGTON – Bo? No jest. The first family has settled on a first pet — a 6-month-old Portuguese water dog that the Obama girls are naming Bo.
The selection was one of the White House's most tightly kept secrets.
President Barack Obama's daughters, 10-year-old Malia and 7-year-old Sasha, picked a black and white pup, a White House official speaking on the condition of anonymity told The Associated Press Saturday night.
The dog is a gift from Sen. Edward M. Kennedy, D-Mass., who owns several Portuguese water dogs himself.
"We couldnt be happier to see the joy that Bo is bringing to Malia and Sasha," Kennedy said in a statement. "We love our Portuguese water dogs and know that the girls — and their parents — will love theirs, too."
The Washington Post reported in its online editions Saturday night that Obama's daughters chose the name Bo for the pup because first lady Michelle Obama's father was nicknamed Diddley. The name for the dog was an apparent reference to the singer "Bo" Diddley.
White House aides told the AP that the office of the first lady arranged an exclusive deal on the dog story with the Post. The officials, who demanded anonymity because of the deal with the Post on exclusive details, said the dog was not in the White House as of Saturday evening.
Throughout the day Saturday, celebrity Web sites and bloggers were abuzz with rumors of the first family's selection of a Portuguese water dog; one site even claimed it had pictures of the future first pet.
The president had embraced the frenzy: "Oh, man, now, that's top secret," Obama joked Friday to reporters.
Obama promised his daughters a puppy during the campaign.
"This is Washington. That was a campaign promise," Obama said when he appeared on Jay Leno's talk show last month, as the audience roared with laughter. "No, I'm teasing. The dog will be there shortly."
The president and first lady had said their choice was down to either a Portuguese water dog or a Labradoodle because they were considered good pets for children who have allergies, as Malia does.

At least 12 killed at immigration center in NY

By WILLIAM KATES, Associated Press Writer – 2 mins ago
BINGHAMTON, N.Y. – A gunman opened fire on a room where immigrants were taking a citizenship exam in downtown Binghamton on Friday, killing as many as 13 people before committing suicide, officials said.
Gov. David Paterson said at a news conference that 12 or 13 people had been killed. The suspected gunman carried identification with the name of 42-year-old Jiverly Voong of nearby Johnson City, N.Y., a law enforcement official said.
The suspect's body was found with a self-inflicted gunshot wound in an office of the American Civic Association building, said the official, who was not authorized to speak publicly and was talking on condition of anonymity.
The gunman barricaded the rear door of the building with his car before entering through the front door, firing his weapon, the official said.
Vice President Joe Biden, speaking at an event in New York, told the crowd that someone entered a room where an examination was being given from immigrants to become U.S. citizens, then shot and killed 12 or 13 people.
The Binghamton SWAT team responded, and the Bureau of Alcohol, Tobacco, Firearms and Explosives was also sending agents to Binghamton.
The American Civic Association helps immigrants in the Binghamton area with naturalization applications, according to U.S. Citizenship and Immigration Services.
The association describes itself as helping immigrants and refugees with counseling, resettlement, citizenship, family reunification and translators.
The association's president, Angela Leach, "is very upset right now," said Mike Chanecka, a friend who answered a call at her home as Leach wept in the background.
"She doesn't know anything; she's as shocked as anyone," Chanecka said. "For some reason, she had the day off today. And she's very worried about her secretary."
Two women and a man suffering gunshot wounds were being treated at Wilson Medical Center in Johnson City, said hospital spokeswoman Christina Boyd. One was stable, one was serious and one was critical. Their ages ranged from 20s to 50s, she said.
Linda Miller, a spokeswoman at Our Lady of Lourdes Hospital in Binghamton, said a student from Binghamton University was being treated there.
The shooting occurred in a mixed neighborhood of homes and small businesses in the center of Binghamton, a city of about 47,000 located 140 miles northwest of New York City.
College student Leslie Shrager told the AP that she and her five housemates were sleeping when police pounded on the front door of their house next door to the shooting scene.
Officers escorted the six Binghamton University students outside, she said, and that's when they learned of the shooting.
"One of our housemates thought they heard banging of some kind. But when you're living in downtown Binghamton, it's always noisy," said Shrager, of Slingerlands, an Albany suburb. "Literally two minutes later the cops came and got us out."
At the junction of the Susquehanna and the Chenango rivers, the Binghamton area was the home to Endicott-Johnson shoe company and the birthplace of IBM, which between them employed tens of thousands of workers before the shoe company closed a decade ago and IBM downsized in recent years.
___
Contributing to this report were Associated Press writers George M. Walsh and Chris Carola in Albany and Devlin Barrett in Washington.

Source: 4 die, up to 40 held hostage in Binghamton shootings

(CNN) -- At least four people were killed Friday when a man opened fire in a building in Binghamton, New York, a law enforcement source close to the situation said.


Armed law enforcement officers gather at the scene of Friday's shootings in Binghamton, New York.

The source said more than a dozen were wounded.

The man began shooting in the American Civic Association, which helps immigrants and refugees, during a citizenship test, the source said.

The source said there may be 20 to 40 people who have been taken hostage.

The local newspaper, the Press & Sun-Bulletin, said on its Web site that at least four people were shot and 41 people had been taken hostage.

It said sharpshooters from the city's SWAT team were poised outside the building.

Video from the scene showed a person on a stretcher being taken to an ambulance.

FBI spokesman Richard Kolko said the FBI is sending hostage negotiators and an evidence response team to the scene. The agency has an office in Binghamton, and agents are being sent from offices in Albany and Syracuse as well.

The newspaper said the incident began around 10:30 a.m. ET. Nearby apartments were being evacuated and Binghamton High School is on lockdown, it said.

"Within minutes [the situation] turned into one just flooded with police," Bob Joseph, news director of WNBF Radio, told CNN.



The American Civic Association helps immigrants and refugees with a number of issues, including personal counseling, resettlement, citizenship and reunification, and provides interpreters and translators, according to a United Way of Broome County Web site, which is affiliated with the association.

Binghamton is about 140 miles northwest of New York City.

Jock Friedly's LegiStorm.com Makes Hill Salaries Easy To Search -- and Debate

Go ahead. Hate him. I don't.

By Manuel Roig-Franzia

Jock Friedly couldn't care less. This is a man who counts being burned in effigy among his career highlights. So he's hardly going to be bothered by all these congressional staffers who think he's pretty much the Devil incarnate.

Friedly became the scourge of Capitol Hill by creating LegiStorm.com, a Web site that makes it super-easy to look up the annual salaries and financial disclosures of congressional staffers. All this stuff is public information, mind you. But it used to be a pain to find: Hike up to Capitol Hill, descend into the bowels of a House office building and thumb through books filled with tiny type.

Friedly brought it all into mouse-click range. His site offers a trove to keep the snoopiest snoop occupied for hours -- bank accounts, investment portfolios, trust funds, even information about spouses. Wondering why so-and-so cruises to work in a Beemer? Aha, that's why: His wife's a big-shot partner at a law firm. It's all there in the reports.

Often, the site is one of the first things that pops up in a Google search of a staffer. It's enough to make many of them -- especially the most senior and highest-paid -- supremely cranky.

Jeff Loveng, chief of staff to Pennsylvania Republican congressman Bill Shuster, shot off an e-mail to Friedly calling him a "peeping Tom."

"I hope you savor this time in your life where you feel you have other people at your mercy while you conduct your witch hunt," wrote Loveng, who worries about identity theft and pesky sales calls from stockbrokers.



Others have taken the preferred Capitol Hill route -- trashing Friedly anonymously because their bosses frown on them speaking publicly about, well, almost anything. Internet chat rooms swell with outrage.

Friedly chuckles about all the fuss he's wrought with the site he's nicknamed "transparency's sidekick." In person, the scourge does not appear particularly menacing. He's a self-effacing, youngish-looking 40-year-old with thick, somewhat dowdy glasses, a nascent bald spot at the crown of his head and soft features. Nothing about him screams "bird of prey."

He's matter-of-fact, and utterly unmoved, by all these people who despise him and his site.

"I've never found it to be a problem to be a hated person," Friedly said one recent afternoon. "I'm perfectly happy when people are yelling at me."

American Eagle to cut 75 pilot jobs

American Airlines’ regional affiliate American Eagle will be laying off 75 pilots, said Andrea Huguely, a spokeswoman for AMR Corp., the parent company of American.

In addition to the 75 pilots, American Eagle said that 45 more management positions will be cut in 2009.

Fort Worth-based American (NYSE: AMR) says those 45 jobs are in addition to 30 management positions that already were scheduled to be eliminated in 2009.

The pilot job cuts are slated for two rounds: one to begin on May 1 and the other on June 1, American confirmed.

Metavante to be acquired by Fidelity National

Financial technology provider Metavante Technologies Inc. of Brown Deer has agreed to be purchased by Fidelity National Information Services Inc., a Jacksonville, Fla., provider of core and transaction processing services, in exchange for nearly $3 billion in Fidelity stock.

The transaction also includes equity investments from by affiliates of Thomas H. Lee Partners LP and Fidelity National Financial Inc. in Fidelity common stock which will result in approximately 16 million additional newly issued shares.

Together, the combined company will provide one of the most comprehensive ranges of integrated products and services, across more markets and more geographies worldwide than any other provider in the industry, Fidelity said in a press release.

Fidelity National (NYSE: FIS) is a major provider of core and transaction processing services, card issuer solutions and outsourcing services to more than 14,000 financial institutions worldwide. Metavante (NYSE: MV) provides banking and payments technologies to approximately 8,000 financial services firms and businesses.

The two companies serve complementary customer bases and have highly diversified and recurring revenue streams. In 2008, the companies generated pro forma combined revenue of $5.2 billion, adjusted earnings before expenses of $1.3 billion and free cash flow of more than $500 million. As a result of the combination, Fidelity anticipates it can cut approximately $260 million in costs. The increased global scale and expected cost savings are expected to generate significant margin expansion. The transaction is expected to boost adjusted earnings per share in 2010.

As of Dec. 31, 2008, Metavante employed approximately 5,900 employees, including approximately 2,100 in financial solutions group, 2,100 in payment solutions group, 1,200 in shared services such as operations and conversions, and 500 in corporate functions. The Milwaukee-area offices include the corporate headquarters at 4900 W. Brown Deer Road in Brown Deer and offices on Milwaukee’s far northwest side.

Metavante chairman and CEO Frank Martire will become president and CEO of Fidelity after the merger. Fidelity president and CEO Lee Kennedy will be named chairman of the board. The board will consist of six Fidelity National board members and three Metavante board members. The business will be based at Fidelity's current headquarters in Jacksonville, Fla.

Other Metavante executives to remain with the combined company include Michael Hayford, Metavante's current president and chief operating officer. He will become Fidelity's chief financial officer.

Under the terms of the agreement, Metavante shareholders will receive a fixed exchange ratio of 1.35 shares of Fidelity common stock for each share of Metavante common stock they own. At Fidelity's Tuesday closing price of $18.20 per share, the stock transaction is worth about $2.95 billion.

The exchange rate would give Metavante's shareholders a 23 percent premium over Tuesday's closing price of $19.96 a share.

Metavante's largest shareholder, an affiliate of private equity firm Warburg Pincus that owns 25 percent of Metavante's outstanding shares, has agreed to support the transaction. Warburg Pincus is expected to own 11 percent of the combined company.

The transaction is subject to approval by shareholders of both Fidelity and Metavante. The deal also requires regulatory approvals and the satisfaction of customary closing conditions. The firms expect to complete the transaction during the third quarter of 2009.

At closing, the combined company would have approximately 374 million shares outstanding. Metavante's lenders have agreed to waive change of control provision, allowing the merger to proceed. After giving effect to the transaction, the combined company is projected to have approximately $3.8 billion of debt outstanding at closing, including $1.45 billion of debt to be incurred and assumed in connection with the acquisition.

G-20 protesters break into Royal Bank of Scotland

Hopefully we will get the peoples out there and it will say "stop handing out our money to your friends" The banks who knew they were screwing people over in the long run with bad debts. We will see what G20 has come out to say. And if they will think twice now that they see the people trying to get to them that they need police escorts and bodyguards.

By RAPHAEL G. SATTER

LONDON – G-20 protesters in downtown London have smashed windows and entered the Royal Bank of Scotland building. They have also tried to storm the Bank of England.
At least 4,000 protesters have jammed into London's financial district for demonstrations Wednesday. Protesters broke windows and scrawled the word "thieves" on the side of the Royal Bank of Scotland building.
Protesters were also pelting riot police with eggs and fruit and confronting them at barricades.
Earlier Wednesday, Prime Minister Gordon Brown and President Barack Obama held a news conference in London ahead of the Group of 20 summit being held Thursday. World leaders are gathering with hopes of resolving the global financial crisis.
Eight people have been arrested in the G-20 demonstrations so far. There have been no reports of injuries.
THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP's earlier story is below.
LONDON (AP) — Thousands of G-20 protesters jammed downtown London on Wednesday and some tried to storm the Bank of England, pelting police with eggs and fruit and rocking the barricades designed to control them.
Demonstrators shouted "Abolish Money!" and clogged streets in the financial district known as "The City" even as Prime Minister Gordon Brown and President Barack Obama held a news conference elsewhere in the British capital.
Protesters had branded the day "Financial Fool's Day" ahead of Thursday's summit of world leaders who are gathering in hopes of resolving the global financial crisis that has lashed nations and workers worldwide.
"Every job I apply for there's already 150 people who have also applied," said protester Nathan Dean, 35, who lost his information technology job three weeks ago. "I have had to sign on to the dole (welfare) for the first time in my life. You end up having to pay your mortgage on your credit card and you fall into debt twice over."
Demonstrators hoisted effigies of the "four horsemen of the apocalypse," representing war, climate chaos, financial crimes and homelessness.
"The greed that is driving people is tearing us apart," said Steve Lamont, 45, flanked by his family and protesters who were banging on bells, playing drums and blowing whistles.
At least eight people were reportedly arrested for having police uniforms. One police officer lost his helmet and demonstrators tossed it around like a trophy and chanted slogans.
Helicopters hovered above the protests and some buildings were boarded up in case the protests turned ugly. Many banks had extra security and hundreds of police officers lined the streets.
Despite the pushing and shoving along the police barricades, there were no reported injuries.
Fearing they would be targeted by protesters, some bankers swapped their pinstripe suits for casual wear and others stayed home. Bolder financial workers leaned out their office windows Wednesday, taunting demonstrators and waving 10 pound notes at them.
Especially in Britain, bankers have been lambasted as being greedy and blamed for the recession that is making jobless ranks soar.
"It seems like everything is in a mess," said protester Steve Johnson, 49, an unemployed construction worker. "You get bankers getting massive bonuses, and the MPs (British lawmakers) are lining their own pockets."
Musician and political activist Billy Bragg said the time was now to make a difference.
"It's better than sitting down shouting at the television at these bankers," he said. "We cannot go back to the way things were before to the million-dollar bonus culture."
Protesters included anarchists, anti-capitalists, environmentalists, students, unionized workers, unemployed workers and others hurt by the global financial crisis.
One protester dressed as the Easter bunny managed to hop through the police cordon but was stopped before he could reach the Bank of England. Another black-clad demonstrator waved a fake light saber at officers.

myflorida.com accessflorida

Take Action to take after losing your job

File for unemployment benefits that day or the next day online at floridajobs.org

Share the news with your family and friends. Try to be positive, especially when telling children.

Review your separation package and your finances. Decide what monthly expenses you can do without.

Let former clients and contacts know how they can reach you.


Enroll for classes at Broward County's Workforce One or Palm Beach County's Workforce Alliance, or seek other career transition help. Do not pay someone to find you a job.

Check whether you qualify for food stamps. There are restrictions on income and assets. You can prequalify at myflorida.com/accessflorida

Source: Sun Sentinel research

GM CEO Rick Wagoner to resign

Kinda weird how a President of a country can tell a so called publicly owned company to resign and it happens. I thought this was supposed to be a free market and the shareholders held that responsibility.

As troubled automaker appeals for federal help, Rick Wagoner gives up top spot following years of losses and declining U.S. market share.

NEW YORK (CNNMoney.com) -- General Motors Chief Executive Rick Wagoner will resign as part of the federal government's plan to bail out the struggling automaker, White House and GM sources told CNN Sunday.

Wagoner's departure comes the day before President Obama is expected to announce the latest details of the government's plans for restructuring GM and Chrysler LLC, which have been pushed to the brink by huge losses and a sharp decline in sales.

Fritz Henderson, the current chief operating officer, is expected to be named interim CEO of General Motors, according to two GM sources.

A GM spokesman declined to comment.

GM and Chrysler face a Tuesday deadline to prove to the Treasury Department that they can be viable in the long term. Without such a finding, the government can recall the $13.4 billion it has already lent to GM (GM, Fortune 500) and the $4 billion it loaned to Chrysler.

Wagoner, a 32-year company veteran, has been CEO of General Motors since 2000. Prior to becoming CEO, he was chief operating officer and led the company's North American operations. He also served as chief financial officer from 1992 to 1994. ('Wagoner: Almost a superstar CEO')

A senior GM official official told CNN that the White House and its auto task force had "sent very clear signals" that the key to more help was "new leadership" and something that would help the administration see real change.

General Motors has been hit hard as auto sales have plummeted. Sales have continued to tumble through the early months of this year, falling 40% across the industry and about 50% at GM and Chrysler.

The companies and industry analysts have slashed their sales estimates for the year -- and that in turn has heightened the need for more loans to keep GM and Chrysler afloat.

Last month, the two companies filed reports on their restructuring efforts. GM said it needed up to $16.6 billion more in loans. Chrysler asked for an additional $5 billion, and said it would need the money by the end of March to avoid running out of cash.

The Obama administration had been widely expected to approve the requests. Obama has repeatedly spoken about the importance of saving the struggling auto industry, and on March 19, Treasury announced $5 billion in federal help for GM's and Chrysler's auto parts suppliers.

The other member of Detroit's Big Three, Ford Motor (F, Fortune 500), has a better cash position than its rivals and has so far not needed federal loans. But Ford has asked for a $9 billion line of credit in case sales continue to be worse than expected or if major suppliers have to halt operations.

Job cuts
As part of the viability plan, GM and Chrysler were to win concessions form bond holders and the UAW.

GM has a big debt load, but negotiations with bond holders have gone slowly.

As for talks with labor unions, last week GM announced that 7,500 factory workers had taken its latest buyout offer. The workers leaving the company represent about 12% of the GM's remaining U.S. hourly work force, leaving it with just under 55,000 factory workers in the United States.

With this latest program, GM has shed about 60,000 hourly U.S. jobs since 2006. GM has offered buyout packages to all of its remaining hourly workers.

Even if the company needs to hire someone new to replace a departed worker, the company will save money under terms of the 2007 labor contract that pays new hires at a lower wage scale and with a far less lucrative benefit package.

--CNN's Kate Bolduan and John King contributed to this report.

Beware Conficker worm come April 1

Bad timing for a worm if you ask me. The hacker should take a look around and just chill out. Many people right now are looking for jobs with their computer because that is the best way to get out as many resumes and Applications as possible. These people could be responsible for more than they realize.

In an event that hits the computer world only once every few years, security experts are racing against time to mitigate the impact of a bit of malware which is set to wreak havoc on a hard-coded date. As is often the case, that date is April 1.

Malware creators love to target April Fool's Day with their wares, and the latest worm, called Conficker C, could be one of the most damaging attacks we've seen in years.

Conficker first bubbled up in late 2008 and began making headlines in January as known infections topped 9 million computers. Now in its third variant, Conficker C, the worm has grown incredibly complicated, powerful, and virulent... though no one is quite sure exactly what it will do when D-Day arrives.

Thanks in part to a quarter-million-dollar bounty on the head of the writer of the worm, offered by Microsoft, security researchers are aggressively digging into the worm's code as they attempt to engineer a cure or find the writer before the deadline. What's known so far is that on April 1, all infected computers will come under the control of a master machine located somewhere across the web, at which point anything's possible. Will the zombie machines become denial of service attack pawns, steal personal information, wipe hard drives, or simply manifest more traditional malware pop-ups and extortion-like come-ons designed to sell you phony security software? No one knows.

Conficker is clever in the way it hides its tracks because it uses an enormous number of URLs to communicate with HQ. The first version of Conficker used just 250 addresses each day -- which security researchers and ICANN simply bought and/or disabled -- but Conficker C will up the ante to 50,000 addresses a day when it goes active, a number which simply can't be tracked and disabled by hand.

At this point, you should be extra vigilant about protecting your PC: Patch Windows completely through Windows Update and update your anti-malware software as well. Make sure your antivirus software is actually running too, as Conficker may have disabled it.

Microsoft also offers a free online safety scan here, which should be able to detect all Conficker versions.

Jake DeSantis: A Defense of AIG Bonuses

Wow done nothing wrong. Like take millions of taxpayer dollars and using it as bonuses instead of making your company financially viable. Why should anyone get a bonus when they are doing a terrible job in the first place? He is not the only one and AIG is not the only company that has done this. They are just the ones who are in the spotlight right now.

Liz Wolgemuth

Jake DeSantis, an executive VP in AIG's financial products unit, is getting out. We know this because the NYTimes has his resignation letter, penned to CEO Edward Liddy.

It's a comprehensive rebuke of the AIG-admonishers in Congress and of Liddy himself, who was "not strong enough to withstand the shifting political winds," and committed a "breach of trust" in allegedly asking for the bonus money to be returned only shortly before his Congressional appearance last week, DeSantis says.

Here's excerpt that gives a good insight into how the AIG employees are feeling. Note that DeSantis was not among the group that dealt in the ultimately poisonous credit default swaps:

As most of us have done nothing wrong, guilt is not a motivation to surrender our earnings. We have worked 12 long months under these contracts and now deserve to be paid as promised. None of us should be cheated of our payments any more than a plumber should be cheated after he has fixed the pipes but a careless electrician causes a fire that burns down the house.

A common argument against paying retention bonuses to the AIG employees has been, essentially: Where else can they go? Not only is this the ugliest job market in decades, they're also stained with the AIG name. But not so fast. De Santis says this:

Many of the employees have, in the past six months, turned down job offers from more stable employers, based on A.I.G.’s assurances that the contracts would be honored. They are now angry about having been misled by A.I.G.’s promises and are not inclined to return the money as a favor to you.

Liddy both defended the bonus payments to Congress last week and told legislators he had asked for the bonus money to be returned--for the employees to "do the right thing."

Index IQ's New ETFs to Offer New Investing Strategies

Could this be the next big bubble? We shall see in due time. Hopefully though this will help things in the long run, I think everybody is ready to get out of this recession and is willing to almost try anything to get out of it. Just look at President Obama.

By Tom Lydon

A new suite of ETFs is hitting the market soon, this time with an entirely new strategy.

Filings for five new ETFs have been submitted to the SEC by Index IQ and each will track indexes created by IndexIQ subsidiary Financial Development HoldCo LLC. According to Money Management Executive, the ETFs are:

• IQ Hedge Multi Strategy Tracker ETF
• IQ Hedge Macro Tracker ETF
• IQ Hedge Long/Short Tracker ETF
• IQ Hedge Event Driven Tracker ETF
• IQ Hedge Market Neutral Tracker ETF

Paul Mazzilli, senior advisor and board member, is bringing his expertise to ETFs through these funds. As hedge funds and mutual funds continue to leak assets, these and other ETFs could benefit as they tackle new and interesting strategies. These ETFs will be employing strategies that have been common in hedge funds.

Tony Davidow, executive vice president and head of distribution at IndexIQ, has said that he feels ETFs will grow at the expense of mutual funds. “There’s trillions in mutual funds. Those assets went down, and ETFs will ultimately be the beneficiary of those flows.”

Negative news about hedge funds recently may have soured investors on the strategy, but Mazzilli and Davidow aren’t worried about that. In fact, they see it as one glaring hole within the industry in general.

“The issues have been more structurally. The lack of liquidity, they’re difficult for investors to get out of. [Bernie] Madoff is a perfect example of a lack of transparency and what it means to investors. We’re capturing the positive attributes,” Davidow says.

Index IQ will bring innovative products to market with the liquidity, tranparency and cost-efficiency investors are seeking.

missingmoney.com on the Early Show

By ANNA PRIOR

Wishing for extra cash? You may be entitled to some of the nearly $33 billion in unclaimed property sitting in state governments' coffers.

These are sums that businesses were required to turn over to the states after no activity or contact with the owner after a period of a year or more.

Items can include dividend or payroll checks that haven't been cashed, refunds, trust distributions, unredeemed money orders, insurance payments or refunds, annuities, certificates of deposit, customer overpayments and the contents of safe-deposit boxes.

To find out if a state has any of your money, visit the National Association of Unclaimed Property Administrators' Web site, unclaimed.org. From there, you can access individual states' records or the centralized MissingMoney.com (which includes records from most states, but not New York and California), all free.

You also can search for the names of deceased relatives who may have unclaimed property. If you can prove that you are the legal heir, you can claim those accounts.

If a match pops up, you'll need to fill out a claim form and submit it to the state's claim office along with the proper documentation.

Be patient -- depending on your state and type of claim, it can take a while to be verified and for the state to put your check in the mail.

Economy Shrank More Than Expected in Fourth Quarter

The Commerce Department report released Friday showed the economy sinking much faster than the 3.8 percent annualized drop for the October-December quarter first estimated by the government last month.

AP

The U.S. economy contracted at a staggering 6.2 percent pace at the end of 2008, the worst showing in a quarter-century, as consumers and businesses ratcheted back spending, plunging the country deeper into recession.

The Commerce Department report released Friday showed the economy sinking much faster than the 3.8 percent annualized drop for the October-December quarter first estimated last month. It also was considerably weaker than the 5.4 percent annualized decline economists expected.

Looking ahead, economists predict consumers and businesses will keep cutting back spending, making the first six months of this year especially rocky.

"Right now we're in the period of maximum recession stress, where the big cuts are being made," said economist Ken Mayland, president of ClearView Economics.

The new report offered grim proof that the economy's economic tailspin accelerated in the fourth quarter under a slew of negative forces feeding on each other. The economy started off 2008 on feeble footing, picked up a bit of speed in the spring and then contracted at an annualized rate of 0.5 percent in the third quarter.

The faster downhill slide in the final quarter of last year came as the financial crisis -- the worst since the 1930s -- intensified.

Consumers at the end of the year slashed spending by the most in 28 years. They chopped spending on cars, furniture, appliances, clothes and other things. Businesses retrenched sharply, too, dropping the ax on equipment and software, home building and commercial construction.

Before Friday's report was released, many economists were projecting an annualized drop of 5 percent in the current January-March quarter. However, given the fourth quarter's showing and the dismal state of the jobs market, Mayland believes a decline of closer to 6 percent in the current quarter is possible.

The U.S. unemployment rate is now at 7.6 percent, the highest in more than 16 years. The Federal Reserve expects the jobless rate to rise to close to 9 percent this year, and probably remain above normal levels of around 5 percent into 2011.

A smaller decline in the economy is expected for the second quarter of this year. But the new GDP figure -- like the old one -- marked the weakest quarterly showing since an annualized drop of 6.4 percent in the first quarter of 1982, when the country was suffering through an intense recession.

American consumers -- spooked by vanishing jobs, sinking home values and shrinking investment portfolios have cut back. In turn, companies are slashing production and payrolls. Rising foreclosures are aggravating the already stricken housing market, hard-to-get credit has stymied business investment and is crimping the ability of some consumers to make big-ticket purchases.

It's creating a self-perpetuating vicious cycle that Washington policymakers are finding hard to break.

To jolt life back into the economy, President Barack Obama recently signed a $787 billion recovery package of increased government spending and tax cuts. The president also unveiled a $75 billion plan to stem home foreclosures and Treasury Secretary Timothy Geithner said as much as $2 trillion could be plowed into the financial system to jump-start lending.

For all of 2008, the economy grew by just 1.1 percent, weaker than the government initially estimated. That was down from a 2 percent gain in 2007 and marked the slowest growth since the last recession in 2001.

With Friday's figures, Mayland lowered his forecast for this year to show a deeper contraction of just over 2 percent.

In the fourth quarter, consumers cut spending at a 4.3 percent pace. That was deeper than the initial 3.5 percent annualized drop and marked the biggest decline since the second quarter of 1980.

Businesses slashed spending on equipment and software at an annualized pace of 28.8 percent in the final quarter of last year. That also was deeper than first reported and was the worst showing since the first quarter of 1958.

Fallout from the housing collapse spread to other areas. Builders cut spending on commercial construction projects by 21.1 percent, the most since the first quarter of 1975. Home builders slashed spending at a 22.2 percent pace, the most since the start of 2008.

A sharper drop in U.S. exports also factored into the weaker fourth-quarter performance. Economic troubles overseas are sapping demand for domestic goods and services.

Businesses also cut investments in inventories -- as they scrambled to reduce stocks in the face of dwindling customer demand -- another factor contributing to the weaker fourth-quarter reading.

Fed Chairman Ben Bernanke earlier this week told Congress that the economy is suffering a "severe contraction" and is likely to keep shrinking in the fix six months of this year. But he planted a seed of hope that the recession might end his year if the government managed to prop up the shaky banking system.

Even in the best-case scenario that the recession ends this year and an economic recovery happens next year, unemployment is likely to keep rising.

That's partly because many analysts don't think the early stages of any recovery will be vigorous, and because companies won't be inclined to ramp up hiring until they feel confident that any economic rebound will have staying power.

More job losses were announced this week. JPMorgan Chase & Co. on Thursday said it would eliminate about 12,000 jobs as it absorbs the operations of failed savings and loan Washington Mutual Inc. That figure includes 9,200 cuts announced previously and 2,800 jobs expected to be lost through attrition.

Textile maker Milliken & Co. said it would cut 650 jobs at facilities worldwide, while jeweler Zale Corp. said it will close 115 stores and eliminate 245 positions.

On Monday, troubled flash memory maker Spansion Inc. said it will lay off about 3,000 employees and computer chip maker Micron Technology Inc. announced it will slash as many as 2,000 workers by the end of August.

Sirius XM (SIRI) reaches deal with Liberty

I have a lot of shares in SIRI and I was really dreading today until Liberty bailed them out. I don't think they are out of the woods yet, but I am hopeful that they can make a long term recovery and I will be able to make some money out of it. I was strong enough to hold on when Sirius was staring bankruptcy in the face. I still think it is one of the riskiest stocks out there, but no risk, no reward.

by Beth Gaston Moon
Major movement, Deals, Sirius Satellite Radio (SIRI)

Stern fans, breathe easy! In breaking news this morning, SIRIUS XM Radio (NASDAQ: SIRI) and Liberty Media Corp. (NASDAQ: LMDIA) have reached a deal that will save the satellite radio company (for now) from the brink of bankruptcy.

Liberty will invest $530 million in SIRI, kicking off with a first phase: a senior secured loan worth $280 million, $250 million of which will be paid out today.

In response, Liberty will assume two spots on the SIRIUS XM board and receive 12.5 million shares of preferred stock, convertible into 40% of common SIRI shares.

SIRI CEO Mel Karmazin, told reporters, "Liberty's investment is an important validation of what SIRIUS XM has already achieved and a vote of confidence in what we will achieve..."

In pre-market trading, SIRI shares have jumped more than 80% to 19 cents per share.

Beth Gaston Moon works for WeSeed.com. The above comments are not intended as trading or investment advice.

Obama at White House - Inauguration day 2009

WASHINGTON (CNN) -- Barack and Michelle Obama were at the White House on Tuesday to meet with President Bush, as hundreds of thousands gathered at the Capitol for Obama's inauguration.

The Obamas attended a prayer service at St. John's Episcopal Church on Tuesday morning and then headed to the nearby White House for a meeting with the outgoing president and first lady Laura Bush.

Vice President-elect Joe Biden and his wife, Jill, arrived at the White House shortly before the Obamas. The Obamas, Bushes and Bidens were expected to have coffee at the before heading to the Capitol.

The 9 a.m. church service kicked off a day of events for the man who will become the nation's 44th president at noon ET.

As many as 2 million people are expected to crowd into the area between the Capitol, the White House and the Lincoln Memorial as Obama takes the oath of office.

Gerrard Coles of Norwalk, Connecticut, had staked out a position in front of St. John's.

"Everyone's down here -- hopefully to catch a glimpse of Barack, just for a split second," he said. "I think this was a beautiful thing. It's something I always wanted to do. It's not every day that you get to be a part of history. Rather than just watch it on TV, you actually get to partake in it and you have a story to tell your kids."

A crowd gathered at a barricade near the church was letting children and shorter onlookers move to the front of the crowd so they could get a better view.

Some spectators will be more than a mile from the swearing-in ceremony, watching on giant TV screens erected along the National Mall.

Thousands arrived before daylight Tuesday in standing-room-only trains. They carried blankets and wore Obama scarves to ward off the wind chills of minus 15 degrees Fahrenheit.

Suburban Washington train stations were jammed. A four-story parking deck at the Springfield, Virginia, station was filled at 5 a.m. Trains rolling into the stop about 15 miles south of the Capitol had no room for the hundreds on the platform.

The Metro rail system's Red Line was shut down about 9 a.m. after a pedestrian was hit by a train, further snarling the already overloaded train service, fire officials said.

On Monday night, visitors wandered around the Mall, snapping pictures and shooting video of the Capitol and monuments.

The scene around Lafayette Square was almost chaotic, with cars turning around in the street as they were confronted with barriers to closed-off areas and clots of pedestrians crossing streets against the light.

The visitors' excitement rubbed off on some of the jaded locals, one of whom said D.C. residents were "cynical of government."

"The energy on the streets is something I've never seen before," said Nancy Wigal, a 45-year-old technical writer who lives in the Mount Vernon Square area. "People are walking lighter, standing taller and are reaching out to one another. It feels like hope. It feels like shared happiness."

The morning began at 4 a.m. for many as those without tickets made a land grab on the Mall, rushing to stake out positions for the ceremony.

After Obama and Vice President-elect Joe Biden take their oaths of office on the western front of the Capitol, Obama will deliver his inaugural address, which Obama aides say will emphasize that America is entering a new era of responsibility.

In the approximately 20-minute speech, Obama will say America has been hurt by a "me-first" mentality that contributed to the current economic crisis, aides say, and he will call on individuals -- as well as corporations and businesses -- to take responsibility for their actions.

After a formal farewell to President George W. Bush and lunch with congressional leaders, Obama will head up Pennsylvania Avenue to the White House, where he and his family will watch the inauguration parade from a reviewing stand. The parade begins at 3:45 p.m. ET.

The new president and first lady will then close the night by attending 10 official inaugural balls.

Officials say they really don't know how many will show up, but estimates range from 1 million to 2 million.

Organizers have said about 280,000 people can fit into the secure zones around the Capitol and roughly 300,000 into the area around the parade. A mere 28,000 seats are available on Capitol grounds.

Those with tickets to the inauguration will undergo tight screening, including passing through magnetometers, when they enter the seating area in front of the Capitol.

Spectators without tickets will be routed to the Mall, which for the first time will be open from end to end for an inauguration. Security there will be less stringent.

Jeri Pickett of Rochester, New York, was one of the few who got a ticket.

"I'd just like to see the inspiration of America," said Pickett, when asked what he was expecting from Inauguration Day. "There's so much warmth here now, and excitement -- rejuvenation."

Transportation officials say they will run subway trains on rush-hour schedules starting at 4 a.m. as well as extra buses. The Metro expects more than 1 million riders.

Inauguration events have already drawn record crowds. A crowd attending an inauguration concert Sunday was estimated between 300,000 and 400,000 and stretched from the Lincoln Memorial all the way to the Washington Monument, which stands at the midpoint of the Mall.

While Secret Service Director Mark Sullivan said Monday there was "no credible threat" to the inauguration events, a security cordon has been put in place around the city's core, turning much of downtown Washington into a pedestrian-only zone.

In addition to Secret Service, the security effort will involve 8,000 police officers from the District of Columbia and other jurisdictions, 10,000 National Guard troops, about 1,000 FBI personnel, and hundreds of others from the Department of Homeland Security, the National Park Service and U.S. Capitol Police.

Another 20,000 members of the National Guard are ready to respond if there is an emergency, according to outgoing Homeland Security Secretary Michael Chertoff.

Inauguration Day 2009 - Barack Obama

WASHINGTON – The streets of the nation's capital pulsed with expectation Tuesday as crowds determined to witness the swearing-in of President-elect Barack Obama overwhelmed mass transit lines and clogged security checkpoints.

Energized by the historic moment, tens of thousands of people turned this city's orderly grid of streets into a festive party scene. Ready to endure below-freezing temperatures, they streamed up from subway stations and thronged past parked buses, emergency vehicles and street vendors, bound for Pennsylvania Avenue and the National Mall for the inauguration.

"This is the culmination of two years of work," said Obama activist Akin Salawu, 34, of Brooklyn, N.Y., who helped the candidate as a community organizer and Web producer. "We got on board when Obama was the little engine who could. He's like a child you've held onto. Now he's going out into the world."

By 4 a.m., lines of riders formed in suburban parking lots for the Metro transit system, which opened early and put on extra trains for the expected rush. Many parking lots filled up and had to be closed.

Streets around the Capitol quickly filled with people, and security checkpoints were mobbed. The cold registered at 21 degrees Fahrenheit at 7:45 a.m.

Warming tents and other facilities on the Mall were late opening because traffic and crowds delayed staffers from reaching them. Ticket holders approaching the Inaugural site on Capitol Hill awaited security sweeps in a line estimated at thousands.

Connie Grant of Birmingham, Alabama, said she got up at 3:30 a.m. after coming to Washington with a group. Three hours later she was still on 7th street waiting for police to clear the way into the Mall.

She said the wait didn't matter. "I sacrificed and came here. To me, this is very historic. I just wanted to be here."

Christian Alderson of Berryville, Va., went to Memphis, Tenn., in 1968 to support the sanitation workers strike and said he was there when Martin Luther King Jr. was assassinated.

"That day was sorrowful," Alderson, 73, said as he stood near the mall. "This is a dream come true for me."

At the opposite end of town, Georgetown University students chanted "Obama!" and "Fired up Ready to Go!" as they walked down M Street toward the Mall.

A flea-market atmosphere prevailed on downtown streets, with white tents set up to sell Obama T-shirts and mugs as well as food, bottled water, snacks, scarves and footwarmers. The scent of grilled coiled sausages and steaming Chinese food greeted those who walked toward the parade route, more than six hours before Obama would pass by.

As the first waves of people began moving through security screenings, they scrambled for prime viewing spots along Pennsylvania Avenue — sitting on the curb, staking out plots of grass, or clambering on to cold metal benches.

Suburban subway riders also seemed to be in a jubilant mood, despite the early hour. In Fredericksburg, Va., an hour south of Washington, chants of "Obama! Obama!" rang out at a commuter rail station when the line started moving at 5 a.m. for the first trip into Washington.

World history teacher Calvin Adams of Arlington, Va., said he got up extra early so he could witness history being made first-hand and teach it to his classes.

"Eventually I'll teach American history," said Adams, 23. "I'll say, 'This is how it works because I've been there, I've seen it.'"

The joyous mood was tempered only by delays and by the dashed expectations of revelers eager to get an up-close look at history.

Alice Williams, a 51-year-old teacher of gifted children from Kansas City, Mo., had the coveted purple ticket that would placed her in front of the Capitol, but she got caught in the crowd bottleneck and instead was stuck a half mile away.

"We got blocked off; there was too much traffic and no guidance," she said forlornly. "I've been walking for an hour and a half. All I want to do is see my president sworn in"

One parade entrance was supposed to open at 7 a.m. The crowd, which was one-block deep, counted down at 7 a.m. The gate did not open. The chants got louder at 7:30 a.m., but the gates remain closed.

D.C. police have projected inaugural crowds between 1 million and 2 million. Planners say attendance could easily top the 1.2 million people who were at Lyndon B. Johnson's 1965 inauguration, the largest crowd the National Park Service has on record.

Apple CEO Steve Jobs Takes Medical Leave of Absence

Well this doesn't sound good at all for Apple. I know that Apple Stock has dropped almost 10 % in after hours trading which is to be expected right after news like this. It will be interesting how Apple moves foreward from this. They should have some new gizmo in their back pocket that they can unveil while Jobs is out so it will show more confidence that Apple can survive without Jobs in the Long run. And who knows maybe Apple has that up their sleeve. It will also be interesting to see if Apple now goes through Layoffs or if Jobs even comes back at all. It doesn't sound good for the future of the company. But Jobs should of made a strong foundation that should have Apple running lightyears after he passes anyways.

By Mike Musgrove and Peter Whoriskey

Washington Post Staff Writers

Apple chief executive Steve Jobs today announced that he will take a leave of absence as a result of health concerns.

"During the past week I have learned that my health-related issues are more complex than I originally thought," Jobs wrote in an e-mail sent to all Apple employees.

He said he intends to return to the company at the end of June.

Speculation about Jobs's health has swayed the company's share prices during the past year as his increasingly gaunt appearance left some investors worried. The iconic tech leader, who is often viewed as the main driving force for his company's recent successes, was treated for pancreatic cancer several years ago.

Jobs did not deliver a keynote at the recent Mac-centric trade show this year, citing a hormone imbalance. The company's share price rose 4 percent on the news, a result of investor relief that Jobs was not suffering a recurrence of cancer.

Apple products, particularly the iPod and iPhone, have gained a rare kind of loyalty from customers, and much of the credit is given to Jobs's demanding leadership. He is reputedly relentless in his demands that Apple engineers make products that simplify technology, an approach that often gives the company's products a minimalist chic.

In 2004, Jobs received a diagnosis of pancreatic cancer and had surgery, which apparently was successful. Last June, however, Jobs appeared gaunt and the uncertainty over his health created new worries for investors. Stock prices suffered as a result.

Concern about Jobs's health heightened Dec. 16, when the company announced that he would not attend Macworld, a conference that he has addressed in his trademark black turtleneck for several years. Instead, the company sent marketing chief Philip Schiller to make a presentation.

Apple's stock fell as much as 10 percent after the company made that announcement.

Jobs was forced to address the rumors last week. In recent months, Jobs and the Apple board had declined to provide more information about the chief executive's health.

"Unfortunately, my decision to have Phil deliver the Macworld keynote set off another flurry of rumors about my health, with some even publishing stories of me on my deathbed," he wrote on Jan. 5. "I've decided to share something very personal with the Apple community so that we can all relax and enjoy the show tomorrow.

"As many of you know, I have been losing weight throughout 2008," his note said. "The reason has been a mystery to me and my doctors."

Jobs said that the cause of his troubles was a "hormone imbalance."

But many health professionals said then that hormone imbalance is not a specific medical diagnosis

While Jobs is away from the company he founded, Apple will be steered by chief operating officer Tim Cook.