Crain's Daily News Alert prepared for Top Executives

CHICAGOBUSINESS — POWERED BY CRAIN'S — Daily Business Briefing CRAIN'S LISTS SEND LETTERS TO THE EDITOR MULTIMEDIA WEEKLY JOB CHANGES TOP HEADLINES Thursday, March 19, 2009 · Auto bailout may help Illinois-based suppliers · Discover cuts dividend after settlement boosts results · McDonald's asked to use cage-free eggs · Exelon's Rowe saw $12.2M in total comp. · Allstate sues pain clinic for alleged fraud · OfficeMax shares up as rival closes stores · Sales of Cat's heavy equipment fall 27% · MeadWestvaco to boost production at Melrose Park plant · Double whammy for 333 W. Wacker · 10 things to do this weekend  · City readies for Olympic visit – sans Obama: Hinz blog · Chicago tavern owner recalls Richardson: Taking Names blog · WGN's King; NCAA pools & Cubs sale: Biz of Sports blog  Final Markets Dow Jones 7,400.80 -85.78 -1.15% NASDAQ 1,483.48 -7.74 -0.52% Crain's Index 57.86 -0.80 -1.36% » View Other Top Headlines ADVERTISEMENT ChicagoBusiness.com the nation's premier local business Web site providing essential news, information and statistics about doing business in Chicago to more than 250,000 monthly unique visitors. For advertising opportunities visit www.chicagobusiness.com/adSplash/ or call (312) 280-3155 to speak with an Account Executive. OTHER HEADLINES · House passes tax on bonuses for rescued firms New York Times · FedEx profits down, market share up CNN Money · Cook County sales tax hike under state review Daily Herald Crain's Chicago Business | 360 N. Michigan Ave. | Chicago, IL 60601 ADVERTISEMENT TODAY'S FEATURES Society - Anti-Defamation League More than 700 guests attended the Anti-Defamation League's annual Women of Achievement dinner last week. Marsha Serlin, with Gerald Sloan, was among five women honored for excellence in fields from business to fashion to philanthropy. See our photos. Read More · Chicago Business Today - March 19 · Homemade Pizza Co.: Grabbing a slice · Check, Please! Wave — Scrumptious and hip SIGN UP FOR CUSTOM ALERTS Industries Companies Executives » Account Settings LISTEN LIVE: Traffic, weather and news from our news partner WBBM-AM.

House approves 90 percent AIG tax - Patrick O'Connor and Victoria McGrane - POLITICO.com

House approves 90 percent AIG tax - Patrick O'Connor and Victoria McGrane - POLITICO.com:

"In a vote that divided Republicans in half, the House narrowly approved a 90 percent tax on bonuses for AIG and other financial firms that received bailout funds last fall, despite a fevered protest from conservatives who tried to fight the tax increase."

Fox News promo falsely claimed Obama "pushes a plan" requiring vets to pay for health insurance

Media Matters - Fox News promo falsely claimed Obama "pushes a plan" requiring vets to pay for health insurance:

"Fox News aired a promotion for a broadcast of Hannity that falsely claimed: '[President] Obama pushes a plan that could force vets to pay through the roof for health coverage.' In fact, the White House has stated it does not support a provision previously under consideration that would have billed military veterans' private insurance companies for treatment of their combat-related injuries performed at Veterans Administration hospitals.Fox News aired a promotion for a broadcast of Hannity that falsely claimed: '[President] Obama pushes a plan that could force vets to pay through the roof for health coverage.' In fact, the White House has stated it does not support a provision previously under consideration that would have billed military veterans' private insurance companies for treatment of their combat-related injuries performed at Veterans Administration hospitals."

Media Matters - After admitting culpability during Daily Show interview, Cramer now calls Stewart's criticism of CNBC "naïve and misleading"

Media Matters - After admitting culpability during Daily Show interview, Cramer now calls Stewart's criticism of CNBC "naïve and misleading":

"According to Reuters, following Stewart's interview of Cramer, NBC Universal chief executive Jeff Zucker reportedly attacked Stewart over his criticism of CNBC in his March 18 keynote address at the McGraw-Hill Media Summit in New York. According to Reuters, Zucker called Stewart 'unfair,' 'absurd,' and 'completely out of line.' Additionally, according to mediabistro.com's TVNewser blog, an unnamed 'tipster' said that MSNBC executives were asked not to air the Stewart interview in their programming the day following Cramer's Daily Show appearance.According to Reuters, following Stewart's interview of Cramer, NBC Universal chief executive Jeff Zucker reportedly attacked Stewart over his criticism of CNBC in his March 18 keynote address at the McGraw-Hill Media Summit in New York. According to Reuters, Zucker called Stewart 'unfair,' 'absurd,' and 'completely out of line.' Additionally, according to mediabistro.com's TVNewser blog, an unnamed 'tipster' said that MSNBC executives were asked not to air the Stewart interview in their programming the day following Cramer's Daily Show appearance."

ABC7 eNews

>>> Having trouble viewing this newsletter? View as a webpage. Top Stories Thursday, March 19, 2009 Roads repaved for IOC visit | VIDEO The International Olympic Committee visits Chicago in two weeks. And when members get here, they're going to find smooth roads around Washington Park. That's the site the Chicago 2016 committee is proposing for the Olympic stadium. CPS student remembered as hero | VIDEO Students and school officials are remembering a CPS student who was shot and killed last Friday. Quinn: Ill. faces greatest crisis of modern times | VIDEO Illinois lawmakers applauded wildly when Gov. Pat Quinn entered the House chamber to deliver his first budget address, and they applauded again when the speech was over. But that doesn't mean they support his proposals to raise income taxes, increase vehicle fees and overhaul government pension systems. Chicago area grows by 73K The Chicago area is home to some of the largest and fastest-growing regions of the country. Council could revoke free museum perks The city of Chicago may cut free water and other public subsidies to museums that charge more than $10 for admission. MORE STORIES Strange NJ considers ban on bare-it-all 'Brazilian' wax Woman accused of biting, punching son's principal Jewelry robbers fleeced as they flee Man ties state record by catching tiny fish Seniors tell board: Let us eat doughnuts Consumer Auto suppliers to get $5 billion in aid Jaguar, Buick dethrone Lexus in reliability study Food industry safety inspections challenged Manufacturers propose drop-side crib ban Save on cleaning products Healthbeat Should men get prostate cancer screening? Study: Younger blacks have more heart failure US births break record Being obese shortens your life 1 in 3 EMS stethoscopes carry MRSA, study finds MOST POPULAR Ex-Elgin pastor convicted in girl's beating Natasha Richardson dies after fall on ski slope Teen allegedly lies about being raped Man charged with sex assault of child 2 more arrested in death of Ind. woman Advertisement TODAY'S WEATHER OUTLOOK 46°F 26°F Colder with periods of clouds and sunshine Hour-by-Hour | 7 Day Forecast | Radar & Satellite TONIGHT ON ABC 7:00 PM Ugly Betty 8:00 PM Grey's Anatomy 9:02 PM Private Practice 10:00 PM ABC 7 News at 10PM 10:35 PM Nightline Lottery Results Your Daily Horoscope Richardson mourned as a 'wonderful woman' Tributes have begun to pour in from across the show business generations for Natasha Richardson, the Tony Award-winning actress who died after falling on a ski slope. I-Team Report: Unaccounted What happens when Chicago aldermen get their hands on generous expense accounts? And why isn't anyone watching? SUBSCRIPTION OPTIONS I'd like to receive the following newsletters from abc7chicago.com Daily Weather | Daily News | 190 North Sign up for news alerts When you registered with our site, you asked to receive the Top Stories newsletter.  Please do not respond to this e-mail. If you need further assistance, please visit our Member Services page.

Outrageous!

Dear Republican Friend, Amidst all the outrage being expressed about the bonuses awarded by American International Group (A.I.G.), I wanted to call your attention to this clip from CNN News yesterday. Senator Chris Dodd (D-CT), Chairman of the Senate Banking Committee, placed an amendment in the "stimulus" bill that allowed for banks bailed out with taxpayer money - including A.I.G. - to hand out huge bonuses without any government oversight or regulation, as long as those bonuses were issued before February 11. A.I.G. did just that, paying out $165 million in taxpayer-funded bonuses, including more than $1 million each to 73 people, as well as $33.6 million for 52 people who had already LEFT the company. This came AFTER the company received almost $200 billion in taxpayer funds to stay afloat. It is no wonder that Senator Dodd received more campaign contributions from A.I.G. than any other politician during the 2008 cycle, including President Obama. As FOX News put it yesterday, "A.I.G. must be feeling very grateful to Chris Dodd this morning." As we watch these Washington politicians simmering with their new-found populist outrage, it is worth noting that some of them are responsible for the very acts they are now so loudly condemning. Thanks again for your support, Rob Jesmer Executive Director National Republican Senatorial Committee NRSC Website | Make a Donation Paid for by the National Republican Senatorial Committee Not Authorized By Any Candidate Or Candidate's Committee www.nrsc.org 425 2nd Street NE | Washington, DC 20002 | Phone: (202) 675-6000 Privacy Policy Contributions to the National Republican Senatorial Committee are not deductible as charitable contributions for federal income tax purposes.

New jobless claims fall more than expected to 646K

New jobless claims fall more than expected to 646K: "New jobless claims fell more than expected last week, but continuing claims set a new record for the eighth straight week and few economists expect the labor market to improve anytime soon."

House to vote on 90 percent tax for AIG bonuses

House to vote on 90 percent tax for AIG bonuses: "The House is scheduled to vote today on a bill that would levy a 90 percent tax on bonuses paid to employees with family incomes above $250,000 at companies that have received at least $5 billion in government bailout money."

AIG CEO says employees starting to return bonuses

AIG CEO says employees starting to return bonuses: "Under intense pressure from the Obama administration and Congress, the head of bailed-out insurance giant AIG declared Wednesday that some of the firm's executives have begun returning all or part of bonuses totaling $165 million. Edward Liddy offered no details, and lawmakers were in no mood to wait."

Fed launches bold $1.2T effort to revive economy

Fed launches bold $1.2T effort to revive economy: "With the country sinking deeper into recession, the Federal Reserve launched a bold $1.2 trillion effort Wednesday to lower rates on mortgages and other consumer debt, spur spending and revive the economy.
To do so, the Fed will spend up to $300 billion to buy long-term government bonds and an additional $750 billion in mortgage-backed securities guaranteed by Fannie Mae and Freddie Mac."

Media Matters Daily Summary

Here are today's news items from Media Matters for America, click on the title or 'read more' to read the entirety of each story. Limbaugh defends AIG from "lynch mob" In recent days, Rush Limbaugh has defended AIG from a "lynch mob ... demanding heads" over the company's controversial employee retention bonuses. Read More Ignoring Bush Treasury role, Politico reported that Republicans "feel they have a free shot at the Democrats" over AIG The Politico uncritically quoted top congressional Republicans criticizing the Obama administration over AIG bonuses, reporting that "[h]aving mostly opposed Obama's stimulus plan, the second half of the Troubled Asset Relief Program (TARP) funds and the omnibus spending bill, Republicans feel they have a free shot at the Democrats for anything that goes wrong now." The article did not point out that it was the Bush Treasury Department that worked with the Federal Reserve in carrying out last year's bailouts and bought AIG stocks notwithstanding the existence of these bonus contracts. Read More What do AIG bonuses have to do with health care and cap-and-trade? Several media outlets have asserted that AIG's payment of controversial employee-retention bonus packages could squelch or impede President Obama's ability to promote his policy agenda. Most of those reporting the claim failed to elaborate on how disclosure of the bonuses could impede Obama's ability to pass aspects of his agenda such as health-care reform and climate change policy. Read More Fox's Hannity, Doocy repeated falsehood that Dodd to blame for AIG bonuses Fox News' Sean Hannity repeated the false claim that an amendment Sen. Chris Dodd added to the recovery bill "protected" AIG bonuses. Fox & Friends' Steve Doocy further advanced this falsehood by asserting that Dodd "inserted into the stimulus package specific language that kept these bonuses in." In fact, the relevant provision in the recovery act, which was based on an amendment by Dodd, actually restricted the ability of companies receiving funds under the act to award bonuses; it did not create a right for executives at AIG -- or anywhere else -- to receive bonuses. Read More USA Today, LA Times continue to omit Bush Treasury's role in AIG bonus controversy USA Today and the Los Angeles Times reported Republican criticism of the Obama administration over AIG's employee bonus packages but did not point out that it was the Bush Treasury Department that worked with the Federal Reserve in carrying out last year's bailouts and bought AIG stock notwithstanding the existence of these bonus contracts. Read More Time cites NRSC attack on Dodd over AIG bonuses without noting that several GOP senators reportedly opposed executive pay restrictions Time's Jay Newton-Small asserted that Sen. Chris Dodd's proposal for a 100 percent tax on AIG bonuses, "may have been overcompensation, so to speak, on Dodd's part," adding, "The National Republican Senatorial Committee was quick to point out that Dodd had amended the stimulus plan to make a specific 'exception for contractually obligated bonuses agreed on before Feb. 11, 2009.' " But Newton-Small did not point out in response to the NRSC's attack on Dodd that several Republican senators reportedly said in February they oppose any government restrictions on executive compensation. Read More Hannity falsely claimed McCain had "been against the AIG bailout from the very beginning" Fox News host Sean Hannity falsely asserted that Sen. John McCain had "been against the AIG bailout since the very beginning." In fact, while McCain stated in September 2008 that he opposed a federal bailout of AIG, McCain later stated that he supported it. Read More CNN's Bash falsely claims recovery bill language required AIG bonuses "to stay in place" On The Situation Room, Dana Bash falsely claimed that "a clause" of the economic recovery act "effectively made sure that the contracts that were in place for the past couple of years with companies like AIG -- why those had to stay in place and why AIG had to give the bonuses." In fact, the relevant provision in the recovery bill actually restricted the ability of companies receiving funds under the act to award bonuses in the future; it did not mandate that AIG -- or any other companies -- pay bonuses. Read More Limbaugh falsely claimed "not one Republican voted for the TARP bailout" Rush Limbaugh falsely claimed that "not one Republican voted for the TARP bailout." In fact, many congressional Republicans voted in favor of the Emergency Economic Stabilization Act of 2008, which authorized the secretary of the Treasury to create the Troubled Asset Relief Program to provide financial aid to banks and other financial institutions. Read More Limbaugh joined by other conservatives standing up for AIG against "mob rule" In the wake of Rush Limbaugh's defense of AIG, several conservative media figures -- including Sean Hannity, Glenn Beck, and Michelle Malkin -- have joined him in condemning criticism of the company's employee retention bonuses. Read More You can help support our work; become a volunteer media monitor, or donate to Media Matters for America.

Second Chance Act Technical Assistance.

Congressman Danny K. Davis   7th District of Illinois Criminal Justice   Reform Cluster    Advisory Committee   Presents a   Second Chance Act   Workshop   Purpose:   □       Provide Technical Assistance □       Enhance your understanding through a historical analysis □       Legislative intent discussion □       Preparation for the 2nd Wave of funding for not-for-profits Presented by: Dr. Dennis Deer Chair, Congressman Danny K. Davis, Criminal Justice Reform Cluster President, Deer Rehabilitation Services Monday, April 6, 2009, from 9:30 a.m. to 11:00 a.m. at the office of Congressman Danny K. Davis, 3333 W. Arthington, Chicago For additional information, please RSVP to Tumia Romero, at tumia.romero@mail.house.gov.