Congressional Democrats work on auto bailout plan

Hoping to push through a solution the White House will buy, Democratic congressional aides began drafting a $15 billion auto bailout for Detroit's Big Three Saturday.

Twinkie maker cleared to exit bankruptcy

Kansas City-based Interstate Bakeries Corp. was cleared to exit bankruptcy Friday.

St. Louis-based company Belden to cut 20 percent of workforce

Belden, a St. Louis-based electronics components maker, will be restructuring the company to save $30 million next year and $50 million annually starting in 2011, according to a news release from Belden. The restructuring will result in the loss of 1,800 jobs, or 20 percent of its total work force.

Missouri revenues dropping

General revenues are down 3.9 percent compared to the previous year through the fiscal year's first five months.

Big Three survival money requests rise as high as $34B

The nation's three largest automakers, Chrysler, GM and Ford, are requesting up to $34 billion from Congress to financially stabilize the industry. They have each drawn up specific recovery plans detailing what they will do with the money, and what concessions and sacrifices they will make to cut costs.

November auto sales sink to worst level since 1982

Every major automaker reported a year-over-year sales decline of more than 30 percent on Tuesday. The Detroit carmakers were among the worst hit, with GM's U.S. sales falling 41 percent and Chrysler LLC's dropping 47 percent.

Economic troubles for Big Three automakers trickle down to Columbia auto parts manufacturers

Four major auto parts manufacturers in Columbia have experienced varied levels of difficulty making ends meet during the economic downturn.

ANALYSIS: Looming financial crisis was ignored by Bush administration

The government and other agencies buckled to aggressive lobbying and banks’ word about troubled mortgages early on.

U.S. officially in a recession, research group says

The National Bureau of Economic Research has determined that the U.S. economy has been in a recession since December 2007. Many economists believe the current downturn will last well into 2009.

Economist: Midwest recession to rival that of 1981-82 for unemployment

The economic recession in Mid-America will rival the 1981-82 recession for unemployment, according to professor Ernie Goss of Creighton University. The primary index from his Mid-America Economic Survey, which includes Missouri, has plunged to its second record low in as many months. The November index hit 37.8 in November, down 2.1 percentage points from October.

Business up for electric car conversions

While the economy tanks and new car sales drop, the market for electric vehicle conversions has shown signs of growth.

ANALYSIS: Bad news is trickling in from across the nation: The commercial real estate market is facing a meltdown

Even as the holiday shopping season begins in full swing, the same events poisoning the housing market are now at work on commercial properties, and the bad news is trickling in. Malls from Michigan to Georgia are entering foreclosure. That pace is expected to quicken. The number of late payments and defaults will double, if not triple, by the end of next year, according to analysts from Fitch Ratings Ltd., which evaluates companies’ credit.

First National Bank to change name to Landmark Bank

First National Bank & Trust Company of Columbia, First National Bank in Southern Missouri and Landmark Bank in Oklahoma and Texas will be combined into a single organization called Landmark Bank, the Landrum Company announced.

Dana Corp. to lay off 50 workers in Columbia

The lay offs will eliminate 20 percent of the plant's workforce.

ANALYSIS: Government decides Citigroup too big to fail

The government has decided that guaranteeing hundreds of billions of dollars in possible losses and injecting $20 billion more into Citi trumps the alternative — a panic that could leave retirement accounts and investment portfolios of millions of ordinary Americans in tatters and shove more people out of jobs.

Struggling homeowners might qualify for payment reductions

Citigroup assets that have new government backings could help borrowers who need assistance.

The split is mutual: Tiger Woods will no longer endorse GM

After nine years, GM is ready to free up money, and Tiger Woods wants to spend more time with the family.

Washington busy spending lots and lots of money

Even with Obama's newly announced stimulus plan, the national debt will continue to rise in the next year.

Regulators consider bailout for Citigroup

The Treasury Department and the Federal Reserve have discussed over the weekend about devising a strategy to stabilize Citigroup, according to people familiar with the talks.

Gasoline prices fall to lowest level in more than 3 years

The average price dropped below two bucks a gallon nationwide.