US President Obama announces US$3.4B in grants for smart grid

October 28, 2009

President Tuesday announced $3.4B in grants to help build a “smart” electric grid meant to trim utility bills, reduce blackouts and carry power generated by solar and wind energy. It was the largest award made in one day from the $787B stimulus package approved by Congress. The White House said the award will create tens of thousands of jobs while upgrading the Electric Grid. The grants, which range from $400,000 to $200M, will go to 100 companies, utilities, manufacturers, cities and other partners in 49 states; every state except Alaska. President Obama made the announcement after taking a tour of an array of 90,000 solar panels that line a grassy plain of cow pastures deep in the muggy heart of Florida, apparently more panels than there are people in Arcadia. Read more

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Bernanke says US economic recession “very likely over”

September 16, 2009

Chairman said Tuesday that the country’s is very likely over at this point. More and more data showed that the world largest economy is pulling out of the worst since the 1930s. Bernanke admitted that in responding to questions at the Washington based think-tank Brookings Institution. The central bank chief also expressed his confidence that the Congress will enact a revamp of the nation’s financial rule book to prevent future crisis from happening. “I feel quite confident that a comprehensive reform will be forthcoming,” Bernanke said. In a speech delivered Monday in New York to rethink the one year anniversary of the collapse of Lehman Brothers, President urged the Congress to enact legislation this year. US Treasury Secretary Tim Geither also said recently that it is essential that the financial overhaul should be implemented to avoid future crisis.

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US President Obama to challenge Congress over health reforms

September 9, 2009

President Barack Obama gave a teaser on Monday of the do-or-die address he will give tomorrow to the joint houses of on reform. Having gone through the worst month of his presidency, with his approval ratings now at 52%, lower than any other president at a similar stage barring , according to Gallup, Mr. Obama will need to deliver a game-changing performance when he addresses during prime time tonight. “What are you going to do? What is your answer? What is your solution? And you know what? They don’t have one.” “I have got a question for all those folks (opposing reform),” the fired-up president told a large union rally on Labor Day.

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US President Obama taps Bernanke for 2nd term as US Fed Chief

August 25, 2009

President will nominate to a 2nd term as Chairman of the Federal Reserve Tuesday, keeping him on the job of guiding the world’s largest economy out of its deepest downturn since the . Bernanke, whose appointment to a new, four-year term as head of the central bank must be confirmed by the , has flooded crippled financial markets with hundreds of billions of $s in Fed liquidity and stepped in to attempt rescues of failing financial institutions such as Bear Stearns and AIG. Obama’s Democrats control the , but Bernanke has faced criticism from of both parties who say he has gone too far in extending Fed support that will be difficult to unwind, threatening future inflation. Investors have generally given Bernanke high marks on the job and had widely expected him to be kept on by Obama, although the announcement was not expected until later this year.

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Ford increases Q-3 production under “Cash for Clunkers” program

August 14, 2009

carmaker . announced yesterday that it is boosting Q-3 in by another 10,000 units to meet increased demand for its vehicles. According to Ford Americas President , the company’s third-quarter goal is now 495,000 units, about 18% higher than a year ago. Ford also increased its targets for the fourth quarter to 570,000 vehicles, a 33% increase over the same period last year. Ford is one of the biggest beneficiaries of the federal government’s “cash for clunkers” program. Its Ford Focus compact has been one of the most popular choices for customers taking advantage of the program, which provides up to $4,500 to motorists trading in gass guzzlers for new, more fuel-efficient vehicles. Recently President signed into law a $2B extension of cash for clunkers program after Secretary warned Congress the program was about to use up the initial $1B allocated by lawmakers.

Popularity: 2% [?]

US President Obama Approval 49% Among U.S. Investors, 87% Overseas

July 23, 2009

President has Rock Star appeal among the investing class, except in the USA. The Quarterly Global Poll of financial investors and analysts finds attitudes about the new president in and Europe are overwhelmingly positive. In the , by contrast, they are slightly negative. In Europe and , 87% of respondents say they view Obama positively, compared with just 49% in the . His standing among American investors is even lower on matters: only a quarter of poll respondents rate his policies as “good” or “excellent,” compared with more than half in Europe and . President Obama’s “stratospheric favorability ” outside the after five months in office are related to attitudes about his predecessor, former President . “It speaks as much to the visceral distaste for George Bush outside of the ,” she says. In Europe and , more than four of five poll respondents choose Obama over Bush as the president offering better leadership. In the , investors pick Bush, 43% to 41%.

Popularity: 2% [?]

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