To the Point
A Hard Rain's Falling for the Class of 2009
The college class of 2009 faces a market with fewer jobs at lower salaries. Applications for volunteer national service are up by more than 200%. We talk with college graduates and others. Also, while Chrysler files for bankruptcy, at Bank of America, a shareholder revolt.
By Warren Olney • • 50m ListenThe college class of 2009 faces a market with fewer jobs at lower salaries. Applications for volunteer national service are up by more than 200%. We talk with college graduates and others. Also, Chrysler files for bankruptcy, and the head of Bank of America loses one title but keeps another. What are the consequences of a shareholders' revolt?
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In this episode
3 storiesChrysler to File for Bankruptcy
At his news conference last night, President Obama said Chrysler might not have to resort to bankruptcy. But several bond-holding hedge funds refused to take less than what they were owed. Today, the President denounced what he called “a small group of speculators.”
Read the story7 minCongratulations, Graduate, Now Find a Job!
This year's college graduates face the worse entry-level job market since the dot-com bust of the late 1990's. The National Association of Colleges and Employers, or NACE, shows employment opportunities down 22% from last year, and some companies that promise jobs won't actually hire until next Fall.
Read the story34 minOusted as Bank of America Chair, Ken Lewis Still in Charge
Bank of America CEO Ken Lewis has testified that he agreed to merge with Merrill Lynch to help save the financial system, even though he knew it would be bad for some shareholders. Yesterday, shareholders struck back by stripping him of his chairmanship of the board. Despite yesterday’s rebellion, Lewis is still President and CEO.
Read the story9 min
