To the Point
Preserving Wall Street, the Auto Industry and the Income Gap
Everybody understands the hourly wage contracts the United Auto Workers agreed to with GM and Chrysler. But only Wall Street knows how or why investment bankers get bonuses worth tens of millions of dollars. Are Washington's bailouts punishing transparency, rewarding stealth and preserving the income gap? Also, Toyota expects its first operating loss since 1941, and another White House tries to control the historical record.
By Warren Olney • • 1h 0m ListenEverybody understands the hourly wage contracts the United Auto Workers agreed to with GM and Chrysler. But only Wall Street knows how or why investment bankers get bonuses worth tens of millions of dollars. Are Washington's bailouts punishing transparency, rewarding stealth and preserving the income gap? Also, Toyota expects its first operating loss since 1941, and White House e-mails and Dick Cheney's penchant for secrecy. Does history have a chance?
Banner image: Ford trucks are parked in a lot before being shipped in Detroit, Michigan. Photo: Spencer Platt/Getty Images
In this episode
3 storiesToyota Expects First Operating Loss Since 1941
For the first time in 70 years, Toyota expects to post losses. Last year, it made $28 billion, but this year the company predicts a negative outcome of $1.7 billion. Based in Detroit, David Kiley is senior correspondent for BusinessWeek magazine.
Read the story6 minPreserving Wall Street, the Auto Industry and the Income Gap
All of Washington decided that Wall Street's investment bankers were "too big to fail," to the tune of $350 billion, and nobody really knows where money has gone.
Read the story38 minNational Archives Addresses Retrieval of White House E-mails
Ronald Reagan, Bill Clinton and George Bush, Sr. are among the outgoing presidents who've sealed records the law says should be a part of history. The current President's exercises in secrecy poses the toughest challenges yet, due to the volume of electronic information and because of Vice President Cheney.
Read the story5 min
