Al would not be happy with simple watchdogs over the "Big 3". He wants Obama to force the automakers to go with plug-in hybrids...Read below... (Newser) – Al Gore doesn't want a White House job, but he has advice for Barack Obama: Use the bailout plan to transform the Big Three. As vice-president, Gore rolled out a billion-dollar program to pay for fuel-efficient Detroit vehicles—"but as soon as they felt they were off the hook, they pulled the plug and walked away," Gore tells Newsweek. Now Obama can transform Michigan into a plug-in hybrid electric car hub, he says. Gore praises his old plan to raise gas taxes, and lower payroll taxes, to wean America from its oil addiction. But he admits that Obama's cap-and-trade alternative would be "effective." Once America takes the lead, Gore says, China and India will agree to curb carbon emissions. They may be building a coal plant per week, "but, as the old saying goes, instead of cursing the darkness, light a candle." SOURCE Newsweek
One day after announcing strict limits on salaries and bonuses for its top tier of executives, AIG revealed that some of those executives will receive millions in “retention bonuses” next year.
In a regulatory filing on Wednesday, the insurance group disclosed that Jay Wintrob, an executive vice-president, had put off receiving the first instalment of his $3m retention bonus from December to April 2009.
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