In a move sure to spark outrage, the White House announced today that GM and Chrysler must cease participation in NASCAR at the end of the 2009 season if they hope to receive any additional financial aid from the government. Companies around the globe--Honda and Audi, to name two--have drawn down racing operations, and NASCAR itself has already felt the pinch in the form of reduced team spending. A complete withdrawal from America's premier racing series is expected to save more than $250 million between GM and Chrysler, a substantial amount considering the drastic measures being implemented elsewhere.
Despite assurances to the contrary, President Obama has personally asked Treasury Secretary Timothy Geithner to step down, sources told HousingWire early Wednesday morning. Geithner, who has seen a whipsaw of public opinion over his handling of bonuses at American International Group (AIG: 0.9999 -0.01%) and the introduction of a so-called public-private investment program designed to clear bad assets off of bank balance sheets, has been the subject of strong criticism from Republicans and even a few prominent Democrats.
Flights to Mars! $99!
Björk has accepted the position of lead vocalist for legendary Led Zeppelin, but it was evident that their world tour was in turmoil after original singer Robert Plant decided to concentrate on live work with Allison Krauss. They have been looking for new singer to tour and record with as reported in the media.
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