Tuesday, November 25, 2008

U.S. 'falling behind' bombings in Afghanistan, panel says

U.S. 'falling behind' bombings in Afghanistan, panel says

By Tom Vanden Brook, USA TODAY
WASHINGTON — A congressional panel has warned that the U.S. is "falling behind" in Afghanistan in the fight against makeshift bombs, the No. 1 killer of U.S. troops there, after the attacks reached an all-time high this summer.
Improvised explosive device (IED) attacks have increased every year since 2005, according to Pentagon data. The attacks peaked at 329 in August before declining to 264 last month upon the arrival of colder weather, which usually hinders fighting in Afghanistan.

The increased deployment of IEDs has come amid a broad offensive by the Taliban and warnings from U.S. commanders that violence could worsen. The bombs have contributed to an increase in casualties among coalition forces: 129 U.S. servicemembers were killed in Afghanistan through October this year, compared with 83 combat deaths in all of 2007.



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Friday, November 21, 2008

GM extends holiday shutdown, may cut production

GM extends holiday shutdown, may cut production

By Tom Krisher, AP Auto Writer
DETROIT — General Motors (GM) will extend its holiday shutdown or make other production cuts at up to 10 factories as it deals with a continued U.S. auto sales slump and fights to stay solvent.
The cash-strapped automaker told workers about the cuts Friday morning, according to local union officials.

Dave Green, president of a United Auto Workers local in Lordstown, Ohio, said workers were told that the normal holiday shutdown will be extended until Jan. 20 at the sprawling factory complex, which stamps parts for and assembles the Chevrolet Cobalt and Pontiac G5 small cars.

The last scheduled workday will be Dec. 23, although production will start to wind down before that, he said.

Details of the other cuts were not available. GM spokesman Chris Lee would not comment on the announcements.



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Friday, November 14, 2008

Schwarzenegger wants to trim Calif.'s 14 holidays

Schwarzenegger wants to trim Calif.'s 14 holidays

SACRAMENTO - California's generous offering of holidays for state workers - the equivalent of nearly three work weeks - is among the items Gov. Arnold Schwarzenegger is looking to trim to help counter a mounting budget deficit.

Lincoln's Birthday and Columbus Day would get the ax under a proposal the governor's administration estimates will save $114 million during this fiscal year and the next one starting in July.

"We think it's not so painful to give up a couple of holidays," said Mike Genest, Schwarzenegger's finance director.
Union leaders are resisting the move, but California isn't the only state looking to save money by cutting back on paid days off.

New Jersey passed a benefit-cutting bill in September that included eliminating Lincoln's Birthday as a state paid holiday amid a budget deficit projected to reach $1.2 billion in the current fiscal year. Gov. Jon Corzine also stopped the tradition of giving employees the day after Thanksgiving as a paid day off.



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Friday, November 7, 2008

U.S. economic picture darkens

U.S. economic picture darkens

WASHINGTON - A fresh wave of bad economic news, including a half-million Americans newly out of work and the weakest October retail sales in nearly 40 years, pummeled the stock market Thursday, driving the Dow Jones industrials under 9,000 again with a stunning two-day decline of 10 percent.

The high market volatility that characterized the financial meltdown in September and October has returned, and the economic picture is growing notably bleaker, with the holiday shopping season and the new administration of President-elect Barack Obama looming in coming months.

Henry Paulson, President Bush's Treasury secretary, pledged to work closely with Obama for a smooth handoff of power. Paulson said a "methodical and orderly" transition was in the best interests of the financial markets



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US economy loses 240,000 jobs

US economy loses 240,000 jobs

WASHINGTON — The nation's unemployment rate bolted to a 14-year high of 6.5 percent in October as another 240,000 jobs were cut, stark proof the economy is almost certainly in a recession.

The new snapshot, released Friday by the Labor Department, showed the crucial jobs market deteriorating at an alarmingly rapid pace.

The jobless rate zoomed to 6.5 percent in October from 6.1 percent in September, matching the rate in March 1994. Unemployment has now surpassed the high seen after the last recession in 2001. The jobless rate peaked at 6.3 percent in June 2003.



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