bailout

Ending Jobs Bank Could Hurt Local Economy

by Gabe Bullard on December 25, 2008

When President Bush announced a government loan to General Motors and Chrysler last week, he called for the end of the jobs bank program, which provides benefits and partial wages for laid-off employees.

While Ford is not set to receive aid anytime soon, ending the jobs bank program could hurt former Ford employees in Louisville. Retail researcher John Talmage says ending the program during a restructuring of the Big Three automakers would leave thousands of workers without pay or updated skills.

“The most important thing for a laid-off worker is to find a new job as quickly as possible,” he says. “If the infrastructure that supports sustaining that worker during that unemployment and retraining, retooling and redeploying that worker ends, then, in this economy, it’s going to be very hard to make those kind of matches.”

The United Auto Workers union previously agreed to suspend the jobs bank program to help the struggling automakers.

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Auto Loan Could Mean End Of Jobs Bank

by Gabe Bullard December 19, 2008

General Motors and Chrysler stand to receive $17.4 billion in federal loans if they can restructure their businesses toward profitability.

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Bayh Talks Economics In Jeffersonville

by Gabe Bullard December 18, 2008

U.S. Senator Evan Bayh was in southern Indiana Thursday to talk about the economy.

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What's Your 2008 Word of the Year?

by rfisher December 17, 2008

I love words, the turn of a perfect phrase, when one word sums up a situation so perfectly there is no need to say anything else. But sometimes I have a love/hate relationship with words, especially when they are over used, misused or just plain wrong. In our time of 24 hour news coverage, a […]

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Yarmuth Supports Bailout Package

by Gabe Bullard October 3, 2008

Kentucky Congressman John Yarmuth reluctantly supported the economic recovery package that cleared the Senate this week.

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Lawmakers Balance Politics With Public Opinion

by scrosby October 1, 2008

Lawmakers on Capital Hill are juggling the needs of the country with public outcry this week. Legislators have been arguing over the 700-billion dollars in taxpayer money to buy troubled assets that are weakening the country’s financial markets. It is widely unsupported by the general public, but the Bush administration insists it is necessary to […]

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National City Defends Its Strength

by scrosby September 30, 2008

A University of Louisville finance professor predicts that Cleveland-based National City Bank may be next for review if Congress doesn’t act quickly on a bailout bill. Professor David Dubofsky says the market doesn’t seem to have much confidence in National City. “If you look at the yields on the bonds that have been issued by […]

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Yarmuth Says Congress Under Extreme Pressure on Bailout Bill

by scrosby September 25, 2008

Louisville Congressman John Yarmuth says lawmakers on Capitol Hill aren’t being given enough time to consider the Bush Administration’s 700-billion dollar financial bailout plan. President Bush has asked Congress to act quickly on the plan, but Yarmuth says there isn’t enough time to fully vet such a large bill. He says there isn’t really even […]

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Bailout is a Good Idea, says UofL Finance Expert

by scrosby September 22, 2008

A University of Louisville finance expert says the bailout Congress is considering to boost the country’s financial markets is a good idea, but it will come with a steep cost. Professor David Dubofsky says news of a wide-sweeping government buyout of bad mortgage debt eased tensions in markets worldwide last week. “It was needed because […]

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