Politics

"Countrywide" Goes the Way of "Blackwater"

Countrywide Financial, the company infamous for its role in the subprime mortgage crisis, is now called "Bank of America Home Loans." Bank of America, which purchased Countrywide in July 2008, is using the name change "to separate itself from Countrywide's reputation," reports the Wall Street Journal.

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Cessna Urges Executives to Fly with Pride

"Pity the poor executive who blinks. ... True visionaries will continue to fly," a new ad campaign by Cessna Aircraft defiantly states. The company saw a "sudden drop in demand for private airplanes of all sizes," which it believes is due not only to the recession, but also to the "unexpected public backlash that erupted after the chief executives of Ford Motor Co., Chrysler LLC and General Motors Corp.

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Has Obama Adopted the Bush Media Doctrine?

President-elect Barack Obama's close advisers "tend to shudder at any parallels to George W. Bush," writes Mark Leibovich, "but many reporters and rivals have noted the 'Bush-like' tendencies the Obama campaign demonstrated in its ability to control information. The comparison is generally meant as a compliment (albeit a grudging one) by members of the press and expressed enviously by veterans of other campaigns.

No

"Small" Change in Bailout Language Preserves Executive Pay

When Congress drafted the $700 billion financial bailout bill, they intended to limit Wall Street executives' sky-high pay. To do this, they included a process for reviewing executive pay, recovering bonuses based on unrealized earnings, prohibiting "golden parachutes" and punishing firms that break the rules.

No

"Car Czar" Will Become World's Most Powerful Ad Executive

The draft bailout for the U.S. automobile industry calls for the appointment of a "Car Czar" who, if the bill passes and is signed into law, would instantly become the most powerful marketing and advertising executive on Earth. The Czar would be charged with overseeing auto company expenses over $25 million, which means he or she would control the companies' media buys.

No

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