:Peanut Butter News

Full Story At  Reuters

PHILADELPHIA (Reuters) - Governors of five U.S. states urged the federal government to provide $1 trillion in aid to the country’s 50 states to help pay for education, welfare and infrastructure as states struggle with steep budget deficits amid a deepening recession.

The governors of New York, New Jersey, Massachusetts, Ohio and Wisconsin — all Democrats — said the initiative for the two-year aid package was backed by other governors and follows a meeting in December where governors called on President-elect Barack Obama to help them maintain services in the face of slumping revenues.

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Full Storly At washingtonpost.com

NEW YORK (Reuters) - Viacom and Time Warner Cable reached an agreement in principle on Thursday that avoided a blackout that would have prevented more than 13 million U.S. subscribers from seeing popular TV shows like “Dora the Explorer” and “The Daily Show with Jon Stewart.” The two sides said in a statement they expected to finalize details of the agreement over the next several days. Viacom wanted Time Warner Cable to pay an extra $35 million to $40 million a year for carrying its cable channels, including MTV, Comedy Central and Nickelodeon.

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Full Story At NYTimes.com

DETROIT — The Big Three automakers are now two troubled companies
getting government help to survive and one — the Ford Motor Company — trying to make it on its own.

But Ford faces a new challenge of its own — improving its competitive position without the assistance that $17.4 billion in federal loans will provide General Motors and Chrysler.

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Full Story At CNN.com

(CNET) — Microsoft has applied for a patent on metered, pay-as-you-go computing.
Under a Microsoft proposal, consumers would receive heavily discounted PCs, then pay fees for usage.

Under a Microsoft proposal, consumers would receive heavily discounted PCs, then pay fees for usage.

U.S. patent application number 20080319910, published on Christmas Day, details Microsoft’s vision of a situation where a “standard model” of PC is given away or heavily subsidized by someone in the supply chain. The end user then pays to use the computer, with charges based on both the length of usage time and the performance levels utilized, along with a “one-time charge.”

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Full Story At CNNMoney.com

The global economic crisis caused a crushing drop in auto sales this year pushing America’s already-struggling automakers into a full-blown crisis requiring at least two of them - Chrysler and General Motors - to request immediate financial help from the government lest they go bust.

But, at least for consumers, there is one bright spot in the spiraling auto industry’s malaise. If you’re interested in buying a car, we’ve got some deals for you. And they’re not just from domestic automakers, either. Even popular Japanese automakers are piling on the incentives.

We asked auto pricing experts at CarsDirect.com to help us identify some of the best deals out there. Of course, the deal is only as good as the car, so we’ve only included offers on models we’d consider buying ourselves.

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 CNNMoney.com

NEW YORK (CNNMoney.com) — The Federal Reserve on Wednesday opened the door for GMAC to get federal bailout money by granting the troubled General Motors finance arm status as a bank holding company.

“In light of the unusual and exigent circumstances affecting the financial markets … the board has determined that emergency conditions exist that justify expeditious action,” the Fed said in an order released Wednesday evening.

The move represents the latest extraordinary government action intended to rescue the American auto industry. Last week, President Bush announced a $13.4 billion aid package for GM (GM, Fortune 500) and Chrysler LLC, saying that allowing the U.S. auto industry to collapse “is not a responsible course of action.”

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Full Story At ABC News

Thierry Magon de La Villehuchet, a well-respected French investment fund manager who put at least $1.4 billion of his clients’ money — and perhaps much or all of his own wealth — in the hands of alleged Ponzi scheme operator Bernard Madoff, appears to have committed suicide in his Manhattan office, according to police officials.
Government Toughens Bernie Madoff Bail Conditions
Surrounded by members of the media, Bernard Madoff walks down Lexington Ave to his apartment December 17, 2008 in New York City.
(DON EMMERT/AFP/Getty Images)

De La Villehuchet, 65, was found inside the Madison Avenue offices of his investment group, Access International Advisors, at about 7:30 a.m. this morning and pronounced dead at 8 a.m., according to the New York City Medical Examiner.

He was found seated at his desk, where he apparently had bled to death after taking an overdose of sleeping pills and then slashing his arm, bicep and his wrists, police said.

“They found the man at his desk,” New York City Police Commissioner Raymond Kelly said. “There was no suicide note. It appears there were cuts made to his arm, to his wrist and also to his bicep area with a box cutter.” Villehuchet’s family in New York has been notified of the death, according to officials.

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Full Story At CNNMoney.com)

NEW YORK (CNNMoney.com) — President-elect Barack Obama’s economic team and congressional staffers are close to finalizing a massive recovery proposal but are still hammering out details, Vice President-elect Joe Biden and economic adviser Larry Summers said Tuesday.

One of the principal remaining issues is the price, which was estimated last week to go as high as nearly $800 billion.

“There’s overall agreement on the scope and nature of the investment we are going to be making,” Biden said at a meeting of Obama’s top economic advisers in Washington, D.C. “While our short-term goal is to start creating jobs as quickly as possible, we plan to invest in areas…that will produce long-term benefits for the long-term health of our economy.”

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