Watch General Motors GM Announcement News On November 7 3rd Quarter Earnings 2008 Lost $2.5 billion Videos

Watch General Motors GM Announcement News On November 7 3rd Quarter Earnings 2008 Lost $2.5 billion Videos

General Motors Corp. said Friday it lost $2.5 billion in the third quarter and warned that it could run out of cash in 2009 if the U.S. economic slump continues and it doesnt get government aid.
GM also said it has suspended talks to acquire Chrysler. While it didnt specifically name the automaker, GM said it was setting aside considerations for a "strategic acquisition."

"While the acquisition could potentially have provided significant benefits, the company has concluded that it is more important at the present time to focus on its immediate liquidity challenges and, accordingly, considerations of such a transaction as a near-term priority have been set aside," the companys said in a statement.

The automaker said its cash burn for the quarter accelerated to $6.9 billion, and government aid will be "essential" because of the slow economy and credit crisis.

The move comes hours after Ford Motor Co. said it lost $129 million for its third quarter and will cut about 2,260 more white-collar workers in North America as the industry tries to weather the worst economic downturn in decades. As U.S. and global economies have rapidly deteriorated, auto sales have nearly shut down.

GM said government aid is "essential" to help the U.S. auto industry through the downturn.

Watch Barack Obama's First Press Conference As President Live Streaming Videos

Barack Obama will hold his first press conference as president-elect on Friday afternoon, following a meeting with his economic advisory team and facing some fresh and troubling U.S. economic data.

Obama plans to talk to reporters at 230 p.m. Eastern after meeting with advisers including former Treasury Secretary Robert Rubin, Los Angeles Mayor Antonio Villaraigosa and Xerox Chairman and CEO Anne Mulcahy. Billionaire investor Warren Buffett will also participate via speakerphone.

Obama and his advisers huddle Friday amid yet more gloomy news for the U.S. economy. The U.S. labor market shed 651,000 jobs in the past three months, driving the unemployment rate to its highest point in more than 14 years, the Labor Department reported Friday.

Watch obama victory speech grant park live streaming video - first black president

A huge crowd in Grant Park in Chicago erupted in jubilation at the news of Obama's victory. By the tens of thousands, they chanted it — some crying, some holding hands to their faces in disbelief, others clutching shivering children they brought along and kept up late to witness a new chapter in this country's history as the first black president strode onto a stage in front of 125,000 cheering supporters and pledged that the fight was not over.

"If there is anyone out there who still doubts that America is a place where all things are possible, who still wonders if the dream of our founders is alive in our time, who still questions the power of our democracy, tonight is your answer," President-elect Barack Obama told a crowd that had steadily filled the city's lakefront over the course of the day. "It's the answer told by lines that stretched around schools and churches in numbers this nation has never seen, by people who waited three hours and four hours, many for the first time in their lives, because they believed that this time must be different, that their voices could be that difference.

first black president - Watch Obama 44th president of the united states live streaming video

Barack Obama was elected the nation's first black president Tuesday night in a historic triumph that overcame racial barriers as old as America itself.

The son of a black father from Kenya and a white mother from Kansas, the Democratic senator from Illinois sealed his victory by defeating Republican Sen. John McCain in a string of wins in hard-fought battleground states - Ohio, Florida, Virginia and Iowa.

Watch Barack Obama Victory Speech live streaming video - obama acceptance speech

BARACK OBAMA VICTORY SPEECH

I want to thank every American who stood with us over the course of this campaign – through the good days and the bad; from the snows of Cedar Rapids to the sunshine of Sioux Falls. And tonight I also want to thank the men and woman who took this journey with me as fellow candidates for President.

At this defining moment for our nation, we should be proud that our party put forth one of the most talented, qualified field of individuals ever to run for this office. I have not just competed with them as rivals, I have learned from them as friends, as public servants, and as patriots who love America and are willing to work tirelessly to make this country better. They are leaders of this party, and leaders that America will turn to for years to come.

Obama first African-American President of US - 44th president of the united states

Barack Obama was elected the 44th president of the United States, opening a new chapter in the country's history as the first African-American to hold the world's most important job.

``If there is anyone out there who still doubts that America is a place where all things are possible, who still wonders if the dream of our founders is alive in our time, who still questions the power of our democracy, tonight is your answer,'' Obama told more than 100,000 people who gathered for a victory celebration in Chicago's Grant Park.

The Illinois senator capped his 21-month quest with a sweeping electoral victory that also enhanced the Democrats' majority in Congress and marked the end of an era of Republican dominance in Washington.

Obama crossed the requisite threshold of 270 electoral votes to defeat Republican rival John McCain last night when television networks projected him winning the state of California. He had at least 338 electoral votes to McCain's 145, according to the Associated Press and television network projections. Six states remained undecided.


source:http://businessmirror.com.ph/index.php?option=com_content&view=article&id=1519:obama-wins-election-as-first-african-american-president-of-us&catid=23:topnews

Watch obama acceptance speech live streaming videos - 44th president of the united states

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barack obama's acceptance speech for PRESIDENT OF USA Video - Obama Acceptance Speech HQ 11/04 - Barack Obama Victory Speech November 4th 2008 - PART 1 Video - Barrack Obama Acceptance Speech Video