Friday, December 12, 2008

Afternoon Update: White House Open to Using Bailout Money to Aid Detroit

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  Friday, December 12, 2008
  Compiled 4 PM E.T.
 
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White House Open to Using Bailout Money to Aid Detroit
By EDMUND L. ANDREWS and DAVID M. HERSZENHORN
President Bush and the Treasury Department said they would consider using money from the $700 billion financial bailout to help automakers.

U.A.W. at Center of Dispute Over Bailout
By MICHELINE MAYNARD
The sticking point in the Senate negotiations apparently was the union’s refusal to agree to certain concessions.

Drug Maker Said to Pay Ghostwriters for Journal Articles
By DUFF WILSON
The pharmaceutical company Wyeth paid ghostwriters to produce favorable medical journal articles, according to Congressional letters.

Rome on Alert for Tiber Breaking Its Banks
By REUTERS
Rome’s mayor, who had declared a state of emergency after severe storms on Thursday, warned that the river might overflow on Friday.

Illinois Official Moves to Force Governor Out
By SUSAN SAULNY and MONICA DAVEY
The Illinois attorney general petitioned the State Supreme Court to remove Gov. Rod R. Blagojevich.

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BOOKS OPINION

Reading Room
As the 200th anniversary of Lincoln’s birth approaches, The Times’s Edward Rothstein and Charles McGrath discuss his legacy.
Measure for Measure
Honesty is often the basis of great art, writes Jeffrey Lewis, but can a song be too honest?

BUSINESS

Carmakers in Asia and Europe Also Look for Help
By DAVID JOLLY
Governments are planning a number of measures to aid automakers. Much of that support is meant to accelerate the development of fuel-efficient vehicles.

G.M. to Idle Most Plants for About a Month
By NICK BUNKLEY
G.M.expects to build 250,000 fewer vehicles in the first quarter, compared to the 885,000 made in the 2008 period.

U.S. Markets Turn Up After Early Losses
By MICHAEL M. GRYNBAUM
After opening sharply lower, Wall Street recovered on assurances from federal officials that a financial solution for the automakers would be reached.

Japanese Leader Offers a New Stimulus Package
By MARTIN FACKLER
The sweeping $250 billion package was intended to create jobs, increase business loans and help laid-off workers.

Retail Spending Hit a Weak Spot in November
By JACK HEALY
The decline in retail spending, the fifth consecutive monthly drop, showed a stretch of weakness never before seen on the government’s retail sales records.

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