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The Nation's CEO, by Mike Allen and Jim Vandehei, Politico, March 31, 2009
Summary: The political-legal environment of business in the U.S. has taken a sharp turn in recent months. Unprecedented federal intervention into private industry has ended America's long-held separation of business and state and transformed the Office of President and the Congress into the nation's unofficial CEO and board of directors. |
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Beyond AIG: A bill to let Big Government set your salary, by Byron York, The DC Examiner, March 31, 2009
Summary: In matters of compensation, businesses are increasingly looking for ways to tie executive pay and bonuses to the overall performance of their firms. Now Big Government is weighing in on the subject with the proposed "Pay for Performance Act of 2009." Headed up by the House Financial Services Committee and Chairman Barney Frank, the legislative move that would make government officials responsible for setting employee salaries in a wide range of U.S. industries and businesses. |
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Banks Get New Leeway in Valuing Their Assets by Floyd Norris, The New York Times, April 2, 2009
Summary: The Financial Accounting Standards Board (FASB) has approved new accounting guidelines that will give banks leeway in valuing their toxic assets--especially mortgage-related securities that have plummeted in value over the past few years. The move cheered up slumping banks and gave the stock market its greatest gains in months. |
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Small business lending drops 57%, by Emily Maltby, CNNMoney.com, April 3, 2009
Summary: In a sign that the recession is hitting small businesses harder than ever, the Small Business Administration (SBA) says it is on track to back only half as many small business loans as it did last year. The total number of loans made through the organization's 7(a) program was 8,278, down from more than 19,000 issued a year ago. |
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The American cars Obama wants, by Peter Valdes-Dapena, CNNMoney, April 3, 2009
Summary: If American automakers want federal money to avoid bankruptcy, they must commit to producing only the cars that the government wants produced--and that means consumers can expect small cars with smaller engines from GM and Chrysler. |
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