October 2008 Archives

WASHINGTON – My friends, it's John McCain , live from New York, just three days before the election.

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Saturday Night Live ," the late-night show that has been a must-watch for many during the political season. Obama appeared on "Saturday Night Live" briefly last season but canceled a return for its season opener in September, citing the devastation brought to parts of the country by Hurricane Ike .

Full Story: McCain set for 'Saturday Night Live' cameo (AP)

WASHINGTON (MarketWatch) -- The U.S. economy contracted at a 0.3% annualized rate in the third quarter, as consumer spending declined at the fastest rate in 28 years, the Commerce Department estimated Thursday.

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"The capitulation of the consumer is the primary catalyst behind what is clearly the first consumer-driven recession in three decades," wrote Joseph Brusuelas, chief economist for Merk Investments. "Just about all sectors of the economy are in the process of a serious contraction." The 0.3% decline in real gross domestic product was the largest since the end of the last recession in late 2001. The economy grew at a 2.8% pace in the second quarter. The drop was close to economists' expectations that the economy would shrink at a 0.5% annual rate.

Full Story: ECONOMIC REPORT GDP falls 0.3% in third quarter on dive in spending - MarketWatch

NEW YORK – Nielsen Media Research estimated that 33.6 million people watched Barack Obama 's half-hour television commercial Wednesday night.

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The spot ran simultaneously on CBS, NBC , Fox, BET, Univision, MSNBC and TV One, and aides said it cost the campaign roughly $4 million. It profiled several Americans struggling with a tough economy, and Obama offered his ideas for a turnaround. Toward the end of his 1992 campaign for president, Ross Perot ran a half-hour infomercial that was watched by 22.7 million people, according to Nielsen.

Full Story: Nielsen: 33.6 million watch Obama's infomercial (AP)

Albano & Milam Video Op-Ed on Enhancing Penalties for Illegal Beach Dumping (A-3270 & A-3271) In this video op-ed, Assemblymen Nelson T. Albano and Matthew W. Milam (both D-Cumberland/Atlantic/Cape May) discuss their legislation to enhance the penalties associated with illegally dumping medical waste in New Jersey. The two-bill package was crafted after several South Jersey beaches were forced to close before Labor Day weekend following the discovery of illegally dumped medical waste that had washed ashore. As many as 225 syringes and other medical waste were found in Avalon - leading borough officials to close beaches four times. Syringes also washed ashore in Berkeley, Ocean City, Sea Isle City, Brigantine and Upper Township.

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As he monitored the early voting in Clinton Townshipyesterday, Hunter Vogel didn't need political punditsto tell him that Barack Obama would fare pretty well in thisRepublican-leaning community. After all, Hunter is 10 years old, and it's hard tokeep any secret -- especially a secret ballot -- in fifthgrade.

Full Story: Kids get down with the count, casting votes at mock elections - The Star-Ledger - NJ.com

LOS ANGELES – The first day of testimony in Phil Spector's murder retrial was canceled Thursday after an alternate juror fell in the court parking lot and broke his foot.

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Superior Court Judge Larry Paul Fidler said he spoke with the juror, who wanted to get medical attention and return Monday. The trial is not in session on Fridays. The judge said he was reluctant to lose an alternate juror this early in the retrial for the 68-year-old music producer and would await the man's return. Six alternates were previously selected to be available in case a regular juror has to leave.

Full Story: Juror injury halts testimony in retrial of Spector (AP)

WASHINGTON (Reuters) - The U.S. economy suffered its sharpest contraction in seven years in the third quarter as consumers cut spending and businesses reduced investment at the onset of what may be a severe and long-lasting recession.

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The Commerce Department said on Thursday that U.S. gross domestic product shrank at a 0.3 percent annual rate as the sharpest pullback by consumers since 1980 overwhelmed an increase in government spending. "This is just the beginning of contraction," said Sung Won Sohn, an economics professor at California State University, who said the fourth quarter will certainly show another decline, which would meet the traditional definition of recession, or back-to-back quarters of falling activity.

Full Story: Economy shrinks in third quarter as consumers retreat - Reuters

"The whole world has a stake in how things turn out," the Ireland native told thousands of Starbucks Corp . employees in New Orleans for a leadership conference. The coffee company and Bono's (RED) label, which helps raise money for the Global Fund that pays for AIDS programs in Africa, also announced a partnership Wednesday.

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The singer talked about brands and what they stand for. In Starbucks' case, he said some might see it as a place to hang out and get coffee — but that brand can also signify social responsibility . The way the U.S. is perceived — "Brand USA" — also means something, he said. And it's never been so closely watched, said Bono, who didn't endorse either candidate for president.

Full Story: Bono: World has a stake in upcoming US election (AP)

Democratic nominee Barack Obama talks economic issues as Bill Clinton for the first time joins him on the trail. So does Republican nominee John McCain, who also talks up foreign affairs.

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By Michael Finnegan and Maeve Reston October 30, 2008 Reporting from Tampa, Fla., and Kissimmee, Fla. -- With the presidential election just six days away, John McCain tried to raise new doubts Wednesday about his rival's ability to protect America from threats overseas, as Barack Obama stayed focused on the nation's economic strife. The tug of war to set the agenda for the campaign's closing days came as the pair of White House hopefuls crisscrossed Florida, one of the most fiercely contested presidential battlegrounds.

Full Story: In Florida, White House hopefuls battle bitterly - Los Angeles Times

LOS ANGELES – A prosecutor on Wednesday portrayed eccentric musical genius Phil Spector as a man who repeatedly threatened women with guns and could become "very sinister, very violent and very deadly" when he was drunk.

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In a speech reminiscent of the one he gave at the first trial, Jackson briefly described the killing of Clarkson at Spector's mansion and displayed photos showing her in life and death. Jackson also recounted the statement of a chauffeur who told of Spector emerging from the house saying: "'I think I killed somebody.'" The defense opening statement was expected later in the day. In Spector's first trial, the defense argued the 40-year-old Clarkson became despondent over her fading career and killed herself.

Full Story: Actress' death center stage at Spector retrial (AP)

By Craig Torres Oct. 29 (Bloomberg) -- The Federal Reserve cut its benchmarkinterest rate by half a percentage point to 1 percent, matching ahalf-century low, in an effort to avert the worst U.S. economicdownturn in the postwar era.

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``Downside risks to growth remain,'' the Federal Open MarketCommittee said today in a statement in Washington. ``Recentpolicy actions, including today's rate reduction, coordinatedinterest-rate cuts by central banks, extraordinary liquiditymeasures, and official steps to strengthen financial systems,should help over time to improve credit conditions and promote areturn to moderate economic growth.'' Central bankers worldwide are trying to revive credit andstop a self-reinforcing downturn in consumer spending and banklending from triggering a global recession. Today's decisionfollows the half-point reduction the Fed coordinated with theEuropean Central Bank and four other central banks on Oct. 8.Borrowing costs were pared today in Norway and China. The U.S. economy shrank at a 0.5 percent annual rate lastquarter, the most since the 2001 recession, the CommerceDepartment's report on gross domestic product will probably showtomorrow. Economists expect the slump to persist in the fourthquarter, according to the median estimate.

Full Story: Fed Cuts Rate to 1% to Avert Prolonged Recession (Update3) - Bloomberg

LOS ANGELES – Britney Spears ' father will maintain indefinite control of her personal and financial affairs after a court commissioner extended the arrangement beyond 2008.

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The conservatorship, which had been set to expire Dec. 31, also allows the people controlling Spears' affairs — a group that includes father Jamie Spears and several attorneys — some say in her professional career. It's a move the singer apparently approves: A court-appointed attorney said the details had been explained to the 26-year-old and she agreed not to oppose it.

Full Story: Court grants Britney Spears' father permanent conservatorship (AP)

called on Alaska 's Ted Stevens to resign from the U.S. Senate a day after his conviction on charges of failing to report more than $250,000 in gifts.

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"It is clear that Senator Stevens has broken his trust with the people," McCain said in a statement. Obama said it is "time to put an end to the corruption and influence-peddling" in Washington. Stevens, a Republican, said he is still running for re-election, though political analysts in Washington and Alaska said his conviction makes it more likely that he would lose on Nov. 4 to Democratic challenger Mark Begich. That would boost Democrats' prospects of gaining an ironclad grip on the Senate.

Full Story: McCain, Obama calls on Sen. Ted Stevens to resign - Newsday

Parole records obtained by The Associated Press also indicate that William Balfour missed a meeting with his parole agent on Friday. That's the day Oscar winner Hudson's mother and brother were murdered and her 7-year-old nephew went missing.

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Balfour is the estranged husband of Hudson's sister. He is being held on an unrelated parole violation and police have named him a person of interest. No one has been charged with the killings. THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP's earlier story is below.

Full Story: AP Exclusive: Hudson suspect had June drug arrest (AP)

The nation’s financial crisis took a massive toll on consumers’ economic outlook this month, sending the Conference Board’s monthly confidence index to its lowest point yet.

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The index, which gauged opinions on business conditions, the labor market and inflation from 5,000 U.S. households through Oct. 21, fell to 38 from 61.4 in September. That’s the third-largest month-to-month decline and the lowest total the Conference Board has ever recorded. Its previous historic lows were in May and June. The overall index is a combination of a confidence score on present conditions, which fell to 41.9 from 61.1 in September, and future expectations, which dropped to 35.5 from 61.5.

Full Story: Consumer confidence bottoms out - Bizjournals.com

Jennifer Hudson 's 7-year-old nephew was found dead in the back of an SUV on Monday, ending a frantic search that began after the shooting deaths of her mother and brother three days earlier.

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The singer and actress was among seven family members and close friends who cried and held hands as they identified Julian King's body from a live image on a television screen at the Cook County Medical Examiner's office Monday afternoon . Chicago police spokeswoman Monique Bond said the boy, like his grandmother and uncle, had been shot. The medical examiner's office planned a Tuesday autopsy.

Full Story: Singer's 7-year-old nephew found dead in SUV (AP)

By Richard B. Schmitt October 28, 2008 Reporting from Washington -- In a stunning verdict that imperils the tenure of the Senate's longest-serving Republican, a federal jury Monday found Sen. Ted Stevens of Alaska guilty of concealing tens of thousands of dollars in gifts and improvements to his home.

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Stevens, 84, reacted pugnaciously, attacking the Justice Department and vowing to continue campaigning for reelection to his seventh term next Tuesday. Stevens has managed to remain neck and neck with Anchorage Mayor Mark Begich since the trial began, despite being unable to campaign in person. But political analysts have said from the beginning that all bets would be off were Stevens to be convicted.

Full Story: Corruption conviction doesn't daunt Sen. Ted Stevens - Los Angeles Times

Jennifer Hudson 's missing 7-year-old nephew, the focus of a desperate search since the Oscar winner's mother and brother were found shot to death in their home three days earlier.

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While the body has not been positively identified, FBI Deputy Director John S. Pistole said authorities believe it to be that of Julian King, who also lived in the home. Chicago police said the body of a black male child was found shortly after 7 a.m. in the rear seat of an SUV. An autopsy was planned for Tuesday.

Full Story: FBI says body found is that of Hudson's nephew, 7 (AP)

-- The U.S. military conducted a "successful" strike into Syria on Sunday to kill a suspected al Qaeda facilitator, a U.S. official said Monday.

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"We will not bow for America. No, No, No for America," reads a sign during a funeral in Syria on Monday. The American official, who would not be identified but has access to U.S. intelligence, identified the intended target of the attack as "Abu Ghadiya," an Iraqi whose family he said has been active in smuggling money, weapons and foreign fighters across the Syrian border into Iraq.

Full Story: US forces staged attack in Syria, US official says - CNN

Jennifer Hudson and her family offered a $100,000 reward Sunday for the safe return of her missing nephew, as investigators looked for forensic evidence near the home where her mother and brother were found shot to death.

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Mourners dressed in their Sunday best milled outside the childhood home of the singer and Oscar-winning actress, along with investigators seeking clues to the whereabouts of 7-year-old Julian King, the son of Jennifer Hudson's sister, Julia. In a statement Sunday evening from publicist Lisa Kasteler, Jennifer Hudson appealed to the public for its help, offering the reward and asking that any information be given to Chicago police.

Full Story: Hudson offers $100,000 reward for missing nephew (AP)

Ellen DeGeneres Show." "I'm convinced I'm a better dancer than John McCain," Obama boasted. No word yet as to whether a dance-off is planned.

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But, to see the candidates bust a move, look no further than the television and Internet. Politicians and their look-alikes have recently gotten jiggy with it, proving that they'll do anything—even dance in public—to win your vote. An online spoof of "Dancing With the Stars" pits a McCain impersonator—"the maverick who's a maniac on the dance floor"—against an Obama impostor—"heavy on rhetoric but light on his feet!" See it: minimovie.com/film-128454-Dancing%20With%20the%20Political%20Stars.

Full Story: Political videos put McCain, Obama in dancing roles - Chicago Tribune

actress Jennifer Hudson appealed on Sunday for the public's help in finding her 7-year-old nephew, missing since the shooting deaths of her mother and brother.

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City police transferred custody of the man labeled a "person of interest" in the shooting deaths to state authorities. An Amber Alert remained in effect Sunday for young Julian King, who disappeared on Friday, the day the bodies of his grandmother, Darnell Donerson, 57, and 29-year-old uncle Jason Hudson were found in the home they all shared on the city' s South Side . The deaths were ruled homicides.

Full Story: Jennifer Hudson asks public to help find nephew, 7 (AP)

- Jennifer Hudson begged the public to help find her missing 7-year-old nephew today as cops turned her sister's estranged husband over to state custody as they probed whether he killed her mom and brother.

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She posted a photo of the boy wearing a purple striped polo shirt, the one he was last seen wearing before cops found the bodies of her mom and brother. Hudson's sister's ex, William Balfour , 27, was handed over to state police on a parole violatoon shortly after 11 a.m.

Full Story: Jennifer Hudson joins sister's plea for return of kidnapped nephew ... - New York Daily News

On behalf of Poehler and her husband, Will Arnett , "I can confirm that Amy gave birth to Archie Arnett on Saturday," read a statement from Poehler's spokesman, Lewis Kay.

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Tina Fey in this year's "Baby Mama" as a working class girl who agrees to be a surrogate mother for a single businesswoman. Surf Kids & Baby Apparel, Hats, Booties Surfer Baby infant, toddler & kids apparel, hats, boots, clothing….

Full Story: Amy Poehler of 'SNL' now a real baby mama (AP)

In Las Vegas: Santos Garcia, right, cheers at a pre-canvassing rally. An Obama supporter, he voted for George H.W. Bush until the Gulf War turned him into a Democrat.

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Isaac Brekken / For The Times In Las Vegas: Santos Garcia, right, cheers at a pre-canvassing rally. An Obama supporter, he voted for George H.W. Bush until the Gulf War turned him into a Democrat. They could provide the margin of victory for Barack Obama in Nevada, Colorado and New Mexico, polls show.

Full Story: Economic strife drives Latino vote - Los Angeles Times

actress Jennifer Hudson was still missing Saturday, a day after the shooting deaths of Hudson's mother and brother in their Chicago home.

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A suspect in the deaths remained in custody Saturday, but young Julian King had not been seen since the bodies of Darnell Donerson, 57, and Jason Hudson, 29, were found Friday afternoon. A family member entering Donerson' s South Side home found the woman shot on the living room floor. Officers later found Hudson shot in a bedroom, police said.

Full Story: Hudson nephew still missing following 2 deaths (AP)

The mother and brother of the Academy Award-winning actress Jennifer Hudson were found shot to death inside her mother’s house on the South Side of Chicago on Friday afternoon, and the police were said to be looking for her 7-year-old nephew.

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The police confirmed that Ms. Hudson’s mother, Darnell Hudson Donerson, 57, was one of the victims, the ABC affiliate WLS reported on its Web site. A neighbor reportedly told the entertainment Web site TMZ that the other victim had been identified as Ms. Hudson’s brother, Jason S. Hudson, 29. The police said they were searching for Ms. Hudson’s nephew, Julian King, who had been reported missing on Friday morning.

Full Story: 2 Relatives of Jennifer Hudson Reported Slain - New York Times

were low because he had several months ago declared the Oval Office a "bummer free zone." Speaking to Fey again appearing as Palin, Ferrell informed her that her role as vice president was "the most important in the land" and that the "president can do nothing without checking with the vice president." Fey corrected him that he had it backward.

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The Week in Photos Princes William and Harry hit the dirt for a charity motorcycle ride. See this and other photos of the week on Yahoo! News. Copyright © 2008 The Associated Press. All rights reserved. The information contained in the AP News report may not be published, broadcast, rewritten or redistributed without the prior written authority of The Associated Press.

Full Story: Will Ferrell's Bush meets Fey's Palin on `SNL' (AP)

HONG KONG (MarketWatch) -- Asian markets were mauled Friday, with Japanese, Indian and South Korean indexes slumping more than 9.5% each to end below crucial psychological milestones as fears of a global recession swept across the region. Benchmarks in Hong Kong, Australia, Singapore and Taiwan dropped to their lowest levels in at least three years.

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Japan's Nikkei 225 Average sank 9.6% to end at 7,649.08, a closing level it hasn't seen since April 29, 2003. The benchmark is now valued at less than a fifth of its all-time high of 38,915.87, which it touched in December 1989. "There is a complete loss of confidence and it was brought on by the decline in Japan," said Francis Lun, general manager at Fulbright Securities in Hong Kong. "We are going back to the stone ages." South Korea's Kospi index dropped even more, plunging 10.6% to close at 938.75, registering its first fall below the 1,000-point level since June 30, 2005.

Full Story: Indexes fall hard on bloody Friday - MarketWatch

U.S. District Judge John G. Koeltl said Follieri had engaged in a significant fraud that hurt investors, will financially ruin him and will cause him to be deported after his prison term. The judge also cited Follieri's "lavish personal expenditures," which prosecutors have said were financed with his investors' money.

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"Instead, I made some terrible mistakes," he said. "I always thought I could repair the wrongdoing, but I was wrong." But Assistant U.S. Attorney Reed Brodsky said Follieri had lied about his education, his background, his wealth and his Vatican connections from the moment he solicited investors through his real estate business, the Follieri Group . Those investors included Yucaipa Cos., which is controlled by supermarket billionaire Ron Burkle, a close friend of former President Clinton.

Full Story: Anne Hathaway's ex-boyfriend gets 4 1/2 years in scam (AP)

fueled Wall Street's stumbles by cutting rates so lowthey encouraged the use of borrowed money to boost returns, said James Grant , editor of Grant's Interest Rate Observer.

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The turmoil in credit markets, worsened by excessiveleverage Greenspan's tenure, shattered the idea that the Fed andits chairman from 1987 to 2006 were ``in perfect control'' ofsteering the U.S. economy, said Grant, founder of the financial newsletter that bears his name. ``The biggest mistake was inciting people to do imprudentthings,'' Grant said in an interview on ``Night Talk'' with MikeSchneider to be broadcast later today on Bloomberg Television.``He didn't have to be a cheerleader for imprudence.'' Greenspan said today at a Capitol Hill hearing that he was``partially'' wrong for opposing the regulation of derivativesover the years. The former Fed chairman endured hours ofquestions from lawmakers seeking answers to what caused thefinancial crisis that has upended Wall Street and slowed thenational economy.

Full Story: Greenspan Was `Cheerleader for Imprudence,' James Grant Says - Bloomberg

, photographs from the Oval Office , a pencil sketch of Robert Kennedy , with an inscription from his widow, Ethel.

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George Wallace before TV cameras and helped pass Johnson's landmark legislation, Katzenbach witnessed and participated in many of the great triumphs and struggles of the 1960s. Never as famous as the people for whom he worked, he was regarded as smart, honest and selfless, so selfless that many now don't know who he is. About a year and a half ago, Katzenbach decided to tell his story — if only because he had nothing better to do.

Full Story: Former JFK, LBJ aide remembers years in Washington (AP)

Last-minute residents signing up to vote are likely to push county voter rolls to a new high.

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The county Elections Department reports that at least 5,000 voter registration forms were filled out or mailed in on Monday, the deadline to register, a boost to the 143,058 voters registered before the week began. "We could be at a record," said the county's top election official, Gail Pellerin, whose office is still counting the applications. "When you look at the stacks of cards, you know we're going to be extremely high." Voter registration in Santa Cruz County peaked during the 1996 presidential race when 148,663 voters were signed up. In comparison, 145,214 voters were on the rolls for the historic 2000 election when President George Bush nipped Democrat Al Gore.

Full Story: Record number of county voters likely Nov. 4 - San Jose Mercury News

George Takei . In a video posted on Shatner's Web site Wednesday, he lashed out at Takei for not inviting him to his wedding last month.

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The 77-year-old Kirk said Takei, who played Enterprise helmsman Sulu, apparently harbors a grudge against him that kept him from being invited to Takei's nuptials. Walter Koenig — who played Uhura and Chekhov, respectively — were among the attendees at the multicultural ceremony at the Japanese American National Museum . Takei and Altman had previously stated that Shatner was invited to their wedding, but he never RSVPed.

Full Story: Shatner upset Takei didn't invite him to wedding (AP)

As Sen. Barack Obama continued to gain ground in key battleground states Wednesday, he sharpened his attacks against Sen. John McCain and issued a grave warning that a vote for his rival could put the country at risk.

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Democratic Presidential candidate Sen. Barack Obama D-Ill. gestures as he talks about trickle down economics at a rally at the Coliseum in Richmond, Va., Wednesday, Oct. 22, 2008. The latest Mason Dixon poll shows Obama with a 2-point lead in Virginia, which Bush won by 10 points in 2004. Though he's mainly stayed focused on the economy in these last few weeks, Obama shifted his attention to talk about an issue of paramount importance in a state that includes a naval base, a Marine headquarters and the Pentagon -- national security.

Full Story: Obama Says McCain Would Pose a National Security Risk - ABC News

West Coast swing routine. The " Unbreak My Heart " crooner was booted after that score was combined with viewer votes.

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The Week in Photos From giant pumpkins to Wall Street minstrels, see some of the best photos of the week. Copyright © 2008 The Associated Press. All rights reserved. The information contained in the AP News report may not be published, broadcast, rewritten or redistributed without the prior written authority of The Associated Press.

Full Story: Toni Braxton booted from 'Dancing with the Stars' (AP)

TOKYO (AP) — Asian markets veered sharply lower Wednesday, with Tokyo's Nikkei index tumbling nearly 7 percent, amid spreading pessimism over corporate earnings outlooks in the U.S. and at home. European markets also opened lower.

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As credit markets show signs of improving, investors are turning their attention to dismal forecasts from major U.S. companies and Japanese media reports of disappointing sales and profit results — stoking fears of a global recession. Asian markets opened lower after an overnight decline on Wall Street but extended losses as the day progressed.

Full Story: Asian markets slide on glum corporate outlook - The Associated Press

Ten of the 12 jurors favored outright acquittal for Spears, who never appeared in court. Her attorney, J. Michael Flanagan, declared victory and criticized prosecutors for bringing a "fix-it ticket" to trial because his client is famous.

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But Los Angeles Deputy City Attorney Michael Amerian said blame for the case getting this far belonged to Spears, who rejected two plea deals — one that included probation and another that would require her to pay a $1,000 fine. Flanagan has said Spears fought the charge to keep her record clean. Steele thanked jurors for their time and dismissed them, and prosecutors told him a couple of hours later that they were dropping the matter, prompting him to dismiss the case.

Full Story: Britney Spears' driver's license case dismissed (AP)

Yahoo slashes 10% of workforce The beleaguered Internet company says it will layoff more than 1,500 employees in the fourth quarter; sales and profits for third quarter match forecasts.

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NEW YORK (CNNMoney.com) -- Yahoo announced Tuesday that it plans to cut at least 10% of its workforce, or more than 1,500 employees, in the fourth quarter in an effort reduce costs. The struggling Internet company also announced sales for the third quarter that were roughly in line with Wall Street's forecasts and earnings that matched expectations.

Full Story: Yahoo slashes 10% of workforce - CNNMoney.com

The actress told reporters that she's supporting the pop star following Wednesday's announcement that she's separated from filmmaker-husband Guy Ritchie .

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"She's a very good friend. I'm supporting her in all the ways that I can. I'm just there for her. I speak to her a lot," Paltrow said as she attended the premiere of her film " Two Lovers " at London's Film Festival . Like Madonna, Paltrow — who's married to Coldplay singer Chris Martin — lives partly in London.

Full Story: Gwyneth Paltrow: I'm helping Madonna over split (AP)

Presidential hopeful Barack Obama, in 1979 gets a hug during his high school graduation in Hawaii from his maternal grandparents, Stanley Armour Dunham and Madelyn Payne, both natives of Kansas.

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will suspend his presidential campaign for part of two days this week to return to his native Hawaii to be at the side of his gravely ill grandmother, a campaign aide said Monday. Madelyn Dunham, 85, was released from a hospital late last week and returned to her home in Honolulu with a health condition the aide described as "very serious." Obama's decision to cancel campaign events "underscores the seriousness of the situation," senior aide Robert Gibbs told reporters during an evening flight after a campaign event in Orlando.

Full Story: Obama to visit ill grandmother - Chicago Tribune

LOS ANGELES – A second day of deliberations ended Monday in Britney Spears ' driving without a valid license case without a verdict.

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Jurors left for the day after saying earlier in the day that they were hopelessly deadlocked. A foreman said they had voted three times since Friday, and each time failed to reach an unanimous conclusion. Superior Court Judge James A. Steele asked the panel to take one more vote and try to make progress. Jurors were read testimony by Spears' father, Jamie, but did not indicate another stalemate before leaving. They resume their deliberations Tuesday morning.

Full Story: No verdict reached yet in Spears trial (AP)

RENO, Nev.—Former President Bill Clinton said Monday that the U.S. economy "is in the tank" and Democratic presidential candidate Barack Obama has a better grasp than John McCain of how to deal with the issue.

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Clinton, speaking at a rally to about 1,200 people, maintained Obama also has better advisers than the Republican presidential contender to guide him on such complex issues as the $700 billion financial rescue package passed by Congress this month. "If you listened to the last two debates when they discussed this, you didn't have any doubt, did you, about which one was more fluent, who understood it better and who had a better grasp of it, right?" Clinton said.

Full Story: Clinton: Obama grasps economic issues - San Jose Mercury News

LOS ANGELES – Mr. Blackwell, the acerbic designer whose annual worst-dressed list skewered the fashion felonies of celebrities from Zsa Zsa Gabor to Britney Spears , has died. He was 86.

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Blackwell, whose first name was Richard, was a little-known dress designer when he issued his first tongue-in-cheek criticism of Hollywood fashion disasters for 1960 — long before Joan Rivers and others turned such ridicule into a daily affair. Year after year, he would take Hollywood 's reigning stars and other celebrities to task for failing to dress in what he thought was the way they should.

Full Story: Fashion critic Mr. Blackwell dies in Los Angeles (AP)

Big news, big ratings -- a wild TV ride with Palin, Powell What a great weekend for TV and politics. And if I did not reply to enough of the comments posted here, I apologize. I will get to more of them today – promise.

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But as we hit the home stretch of this election, which might be the last great presidential race of the TV Age, it is just fabulous to watch the medium reassert itself as the place to be for political and cultural news. Even with this new daily blog and its current focus on the space where TV and politics meets, I can hardly keep up. And from the huge overnight ratings for Saturday Night Live, to the buzz for former Secretary of State Colin Powell’s endorsement of Barack Obama on Meet the Press, I know there were millions of viewers running the same race over the weekend. TV is still the way the vast majority of us experience politics.

Full Story: Big news, big ratings -- a wild TV ride with Palin, Powell - Baltimore Sun

— earned " Saturday Night Live " its best ratings in 14 years. But if you blinked, you might have missed it.

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Fey was answering questions at a news conference , something Palin hasn't done yet as the Republican vice presidential nominee , when Palin walked on the stage. Fey beat a hasty retreat in the opening segment, walking past the real Palin with a barely perceptible nod. If anyone was hoping for a side-by-side photo of the identically dressed women, they were out of luck.

Full Story: Palin draws big ratings for 'Saturday Night Live' (AP)

Reporter Howard LaFranchi talks about the relationship between the US and Europe that arose from World War II.

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WASHINGTON - When President Bush hosts a world financial summit in the coming weeks, one of the least multilateral American presidents in decades will set in motion what could result in a full reordering of the global financial system. The series of summits that Mr. Bush announced over the weekend at Camp David with European leaders at his side suggests a broad understanding among them: that the current crisis requires the kind of global regulatory reforms that have eluded major powers in the past.

Full Story: A financial new world order? - Christian Science Monitor

. Wahlberg's action flick " Max Payne " debuted with $18 million to outdo Oliver Stone's film biography of George W. Bush, according to studio estimates Sunday.

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as Bush, came in well behind the $18.7 million debut of Stone's last movie, 2006's Sept. 11 saga "World Trade Center." That movie opened in nearly 3,000 theaters, about 900 more than "W.," however. Playing in 2,030 cinemas, "W." averaged a solid but unremarkable $5,197 a theater, compared with a $6,334 average for "World Trade Center." "W." was shot on a modest budget of $25 million.

Full Story: 'Max Payne,' 'Chihuahua,' 'Bees' out-poll 'W' (AP)

Democratic presidential nominee Sen. Barack Obama wasted no time basking in the glow of his latest big-name supporter, former Bush administration Secretary of State Colin Powell, a Republican.

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Democratic presidential candidate Sen. Barack Obama, D-Ill., walks to the podium at the start of a rally in the Crown Center Coliseum in Fayetteville, N.C. Sunday, Oct. 19, 2008. Former Secretary of State Gen. Colin Powell (ret.) is shown in the inset waiting for a taping of NBC's "Meet the Press," on which he would endorse Obama. "Today, I am beyond honored and deeply humbled to have the support of Gen. Colin Powell," Obama told a crowd of 10,000 in Fayetteville, N.C.

Full Story: Obama 'Beyond Humbled' as GOP's Powell Says He'd Be 'Exceptional ... - ABC News

($10.8 mil) and early 2007's Shooter ($14.5 mil). And here's another sort of backhanded compliment: It's a good thing the movie earned as much as it did this weekend, for its lamentable CinemaScore grade of C portends a limited audience in the coming weeks.

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barked up a dollar figure almost identical to those of the next two movies, meaning that the final rankings may not be determined until Monday's final numbers are released. As it stands now, however, The Secret Life of Bees was next at No. 3 with a sweet-as-honey $11.1 mil. Playing in a medium number of theaters (1,591), the Southern drama scored the weekend's best average among wide releases ($6,945).

Full Story: 'Max Payne' Is Top Gun at the Box Office - Entertainment Weekly

WASHINGTON — Former Secretary of State Colin L. Powell endorsed Senator Barack Obama for president on Sunday morning, calling him a “transformational figure” who has reached out to all Americans with an inclusive campaign and displayed “a steadiness, an intellectual curiosity” and “a depth of knowledge” in his approach to the nation’s problems.

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John McCain , who has been a good friend of Mr. Powell’s for decades. Mr. Powell, a Republican, has advised Mr. McCain in the past on foreign policy. “Mr. McCain says that he’s a washed-out terrorist,” Mr. Powell said. “Well, then, why do we keep talking about him?” After the program’s taping, Mr. Powell told reporters that the thought of attacking Mr. Obama for Mr. Ayers was “over the top.” Mr. Powell, who was secretary of state in the first term of President Bush, also said that he was concerned about Mr. McCain’s selection of Ms. Palin as his running mate and had come to the conclusion that she was the wrong choice.

Full Story: Powell Backs Obama and Criticizes McCain Tactics - New York Times

NEW YORK -- Politics and parody collided on Saturday as Alaska Gov. Sarah Palin made a self-deprecating appearance on "Saturday Night Live" in which she critiqued the performance of her comic doppelganger.

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Fey's lampooning of Palin as a clueless but perky candidate has become a pop culture phenomenon and has helped lift "Saturday Night Live's" ratings to their highest level in seven years. On Saturday, the program opened with a skit in which Fey blithely fielded questions in what was billed as the governor's first news conference. The camera then cut to the real Palin, standing in a hallway with executive producer Lorne Michaels, watching the bit on a television monitor.

Full Story: Live from New York, it's Sarah Palin on 'Saturday Night Live' - Los Angeles Times

Candidates' tax-cut rhetoric swamps voters In an outbreak of class warfare, John McCain and Barack Obama swapped sharply worded charges over tax cuts Saturday, each accusing the other...

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McCain: Make permanent the Bush administration's tax cuts, which are scheduled to expire in 2010; has called for increasing the exemption for dependents by $500 per year until it reaches $7,000 in 2016. Obama: Restore pre-Bush rates for individuals making more than $200,000 and families above $250,000, thereby increasing rates in the upper two tax brackets to 36 and 39.6 percent; favors giving everyone else — 95 percent of working Americans, Obama says — a tax cut amounting to $500 per individual or $1,000 for a family, for anyone who files a tax return, including people who had no income-tax liability; wants to eliminate income taxes for seniors making less than $50,000 per year; favors making workers with high incomes pay more in Social Security taxes, although he has not laid out details.

Full Story: Candidates' tax-cut rhetoric swamps voters - Seattle Times

But tonight will reveal if the Alaskan Governor has a sense of humor about herself, and if she can roll with the Saturday Night Live crew, which includes alum Tina Fey who has raised the long-running NBC comedy show into the ratings stratosphere with her spot-on impersonation of the woman who has polarized a nation.

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Palin steps into the limelight tonight on the show that has taken political satire to a new level, as the comedy show has consistently mocked the seemingly provincial but resolute Republican vice-presidential candidate and helped shape the national debate on her qualifications to attain such a high office. Palin's scheduled appearance on "Saturday Night Live" follows a series of pro and con essays and op-ed pieces weighing on on Senator John McCain's choice of the inexperienced politician, which included a provocative Rolling Stone piece in October by Matt Taibbi that castigated McCain for appeasing the religious right, his "base" in the GOP.

Full Story: Sarah Palin's performance on SNL one to watch - Monsters and Critics.com

WASHINGTON — President Bush has agreed to play host to a summit of world leaders soon to discuss the global response to the financial crisis , a senior White House official said today.

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Mr. Bush was expected to announce his decision at Camp David, where he met on Saturday with French President Nicolas Sarkozy and European Commission President José Manual Barroso, who have been pressing for a high-level meeting of this kind to take place before the end of the year. The White House official, speaking on the condition of anonymity in order to alert news organizations to the president’s expected announcement, said the meeting was intended to explore ideas to prevent any recurrence of the cascading financial failures that have forced the major economic powers to take costly, coordinated actions in the past several weeks.

Full Story: Bush to Hold Global Economic Summit, Aide Says - New York Times

Barack Obama justified his opposition to a free trade agreement with Colombia by citing the murders of trade union activists. He failed to note that the murder rate has come down significantly over the last few years.

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Thompson? Maybe...Not Activists at Value Voters Summit agree on one thing: There is no presidential candidate who can become the obvious choice of evangelical voters. With the Iowa caucus nearing, patrons of the Waveland Cafe in Des Moines are deluged with political messages, but many say they still had not made up their minds. Other diner videos show the Giulianis' diner-hopping in New Hampshire, including a stop at the Red Arrow, and an earlier visit to the Waveland , where voters are looking for a "real" Republican.

Full Story: Palin and Brolin to Star on SNL Saturday - Washington Post

YPM, a group hired by the GOP, allegedly deceived Californians who thought they were signing a petition. YPM denies any wrongdoing. Similar accusations have been leveled against it elsewhere.

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By Evan Halper and Michael Rothfeld Times Staff Writers 4:46 PM PDT, October 17, 2008 SACRAMENTO -- Dozens of newly minted Republican voters say they were duped into joining the party by a GOP-hired contractor with a trail of fraud complaints stretching across the country. Voters contacted by The Times said they were tricked into switching parties while signing what they believed were petitions for tougher penalties against child molesters. Some said they were told that they had to become Republicans to sign the petition, contrary to California initiative law. Others had no idea their registration was being changed.

Full Story: Voters contend they were duped into registering as Republicans - Los Angeles Times

By Matea Gold and Maeve Reston, Los Angeles Times Staff Writers October 17, 2008 NEW YORK -- John McCain tried to make amends with David Letterman on Thursday, telling the late-night comedian that he "screwed up" when he stood him up last month to focus on the economic crisis.

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McCain's appearance on "Late Show With David Letterman" -- his 13th time on the CBS program -- came after Letterman mocked him for three weeks and suggested his decision to suspend his campaign because of the Wall Street meltdown was merely a political maneuver. The Republican presidential nominee took extra precautions to ensure that he made Thursday's long-awaited visit, traveling from Philadelphia by helicopter to skirt a weather delay.

Full Story: McCain appears on Letterman show, hat in hand - Los Angeles Times

appeared together tonight at the Alfred E. Smith Memorial Foundation Dinner. The entertaining pool report from the New York Times ' Jeff Zeleny is below.

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Senator Barack Obama was preceded - actually, introduced - at the Alfred E. Smith Memorial Foundation Dinner by Senator John McCain who took the first turn at the lectern. He delivered many lines that left Mr. Obama laughing out loud. "I can't shake that feeling that some people here are pulling for me," Mr. McCain said, turning to the far side of the stage. "I'm delighted to see you here tonight, Hillary." Mr. McCain assured those in the ballroom that his rival was not fazed by being called, "That one," during the second presidential debate.

Full Story: McCain and Obama bring humor to dinner - Chicago Tribune

After nearly eight years in office, George W. Bush is still a mystery. How smart is he? How dumb is he? Does he have regrets about the way his presidency has gone, or is he as impervious as his facade? Does he care? Is he really a nice guy? Is he really a horrible guy? Is he a religious person, or is that just a pose? Love him or hate him, everyone has his or her own Bush, and so no screen portrayal of the president will satisfy everyone. But it's safe to say that the Bush depicted in Oliver Stone's "W." - and the movie itself - will put off viewers who approve of the president and at least amuse those who consider him a disaster.

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"Harding was not a bad man," Alice Roosevelt Longworth once said of another president. "He was just a slob." And that's basically Stone's angle on Bush. The film presents him as a black sheep who drank away his youth, glided on family connections and embroiled the country in a needless, catastrophic war. Stone's viewpoint has its limitations: There's a shrewdness about the real-life Bush that is only hinted at in Josh Brolin's portrayal, and extant videos show that the young Bush was a lot more charming and charismatic than the hyperactive fool presented here. Then again, if the young Bush were truly as confident as he seemed, why was he drinking heavily until he was 40 years old? Surely, there was something dark underneath the surface, which the movie attempts to bring to light.

Full Story: Movie review: 'W.' - San Francisco Chronicle

His head bent, bat in hand, David Ortiz trudged to first base. He was out, as he has been so many times this postseason. He walked to the dugout, to teammates who suffered the same fate at the plate. He looked broken. And as he limped back, boos were heard at the once-beloved slugger.

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His head bent, bat in hand, David Ortiz trudged to first base. He was out, as he has been so many times this postseason. He walked to the dugout, to teammates who suffered the same fate at the plate. He looked broken. And as he limped back, boos were heard at the once-beloved slugger. Then the ball lifted, lifted and carried, and dropped into the right-field stands. He had broken out and brought his team back into a game and a series that was seemingly over. It was a three-run home run in the seventh, bringing the Sox within 7-4, and the Rays were the ones suddenly reeling. It wasn't enough, but he didn't need to do it all.

Full Story: Sox are alive after improbable comeback - Boston Globe

I was a bit disappointed that John McCain actually felt the need to appear on The Late Show and apologize to David Letterman. I mean, the guy endured five and a half years of torture by the Viet Cong and didn't crack, but after three weeks of ribbing by Dave, he knuckles under? That said, McCain's ritual act of contrition before this particular priest of the entertainment-industrial complex on Thursday night did make for riveting television.

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As I predicted , Dave continued to mock McCain for his false excuse for bailing on a scheduled appearance three weeks ago , right up to the moment when the host was finally face-to-face with the senator at his desk. (There were lots of Joe the Plumber jokes, a makeshift magnetic map of the Straight Talk Express bus route that avoided the Ed Sullivan Theater three weeks ago while making various stops across Manhattan at the time McCain was supposedly en route to the airport to fly to Washington to fix the economy, and human prop Keith Olbermann, waiting in the wings in case he needed to sub for the missing candidate a second time.) Once the interview started, however, the mockery stopped, and Letterman was respectful, though not deferential. For his part, McCain got the mea culpa out of the way quickly -- "I screwed up," he said a couple times. (He, too, made the comparison to his POW ordeal, saying, "I haven't had so much fun since my last interrogation.") But the interrogation was just beginning. Letterman, in his faux-ingenuous way, was able to ask questionsof the candidate that I hadn't heard any journalist ask him. Like: WasSarah Palin really his first choice for vice president? In his gut, didhe really feel she was ready to lead the country in the event of acrisis? Having endured smears during the 2000 campaign, didn't he feela special responsibility to keep the tone elevated this time around?And did he disavow Palin's remark that Barack Obama is known to be"palling around with terrorists"? In fact, McCain thought this was afair comment, since Obama had once worked alongside at least oneunrepentant former terrorist, William Ayers. Letterman responded byspotting him Ayers and raising him G. Gordon Liddy, the unrepentantconvicted felon who planned acts of terror around the same time asAyers, and who masterminded the Watergate burglary. (Another famousplumber!) For the first time in the interview, McCain seemed flummoxed, acknowledging only that he'd met Liddy.(Actually, there was a lot more to their relationship than that .)After a commercial break gave him time to think of a fuller answer,McCain observed that Liddy had gone to prison and therefore paid hisdebt to society. Alas, Letterman didn't ask the obvious follow-up question (so,if Ayers had been convicted and served time, Obama's association withhim would be okey-dokey?) but instead concluded the interview with somefluffy questions about Tina Fey's Palin impersonation. Still, for halfan hour, Letterman generally refused to let McCain off as easily asother interviewers have.

Full Story: David Letterman finally gets John McCain to apologize, and then some - Entertainment Weekly

Edward Cardinal Egan is flanked by presidential candidates John McCain and Barack Obama at Thursday night's Alfred Smith dinner.

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Edward Cardinal Egan 's right at Thursday night's annual Al Smith Dinner - Democrat Barack Obama to his left. Donning white tie and tails, they put aside political rancor to roast and toast each other with equal relish.

Full Story: Where you sit says a lot about where you stand at annual Al Smith ... - New York Daily News

Madonna and British film maker Ritchie have denied previous reports that they planned to end their eight-year marriage.

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The Sun quoted a "highly-placed source" as saying Madonna, 50, and Ritchie, 40, "just couldn't live together any more" and could "no longer bear to live with the pretence" of being happily married. Rumors that the London-based couple planned to split have been circulating for months, fueled by reports in the summer that the singer had lined up Fiona Shackleton, a lawyer who acted for former Beatle Paul McCartney in his divorce.

Full Story: Speculation grows over Madonna divorce - Reuters

By Thomas Fitzgerald and Larry King Inquirer Staff Writers Republican John McCain yesterday proposed a $52.5 billion package of tax cuts aimed at cushioning the blow of stock-market losses for senior citizens, helping the unemployed and encouraging investment.

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"What we need to see now is swift and bold action to lead this country in a new direction," McCain told about 1,000 at Montgomery County Community College in Blue Bell. He pledged "tax cuts that are directed specifically to create jobs and protect your life savings." The proposals come as McCain tries to make up ground he has lost to Democrat Barack Obama in state and national polls during the economic turmoil of the last few weeks. The two rivals for the presidency are scheduled to debate for the third and final time tonight at Hofstra University in Hempstead, N.Y.

Full Story: McCain floats tax plan to ease market losses - Philadelphia Inquirer

LOS ANGELES (Reuters) - The new terrorism thriller "Body of Lies" failed to take the top spot at the weekend box office in North America, an apparent victim of moviegoers' preference for escapist fare amid global financial turmoil.

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The Warner Bros. film, starring Russell Crowe and Leonardo DiCaprio as CIA agents battling a terrorist organization in the Middle East, had to settle for the No. 3 slot with $13.1 million, according to studio estimates issued on Sunday. The Walt Disney Co family comedy "Beverly Hills Chihuahua" logged a second weekend at No. 1 with $17.5 million, taking its 10-day haul to $52.5 million.

Full Story: "Chihuahua" bites Crowe, DiCaprio at box office - Reuters

LOS ANGELES (AP) — Firefighters backed by water-dumping helicopters and planes gained ground Sunday on a wildfire that destroyed two homes and forced the evacuation of about 1,200 people in a rugged area 20 miles north of downtown.

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Los Angeles County Fire Department spokesman Ron Haralson said the blaze charred up to 750 acres and also burned a garage, several sheds and three motor homes. Haralson said firefighters are "getting a really good handle" on the blaze that started early. Sunday. But powerful Santa Ana winds are expected to arrive in the evening, and gusts could spread embers igniting brush, grass and chaparral in the area.

Full Story: Fire burns 750 acres northeast of Los Angeles - The Associated Press

3 hours ago NEW YORK (AP) — David Letterman and Sen. John McCain will get a chance to make up.

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It will be McCain's 13th visit to the CBS program but his first since he angered Letterman by canceling last month. Letterman was unhappy when McCain sat for an interview with Katie Couric instead of him on Sept. 24.

Full Story: All is forgiven; McCain returning to Letterman - The Associated Press

Many Alaskans seem more upset with the McCain campaign's tactics during the ethics probe than with the governor.

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Anchorage, Alaska – It started in July as an obscure inquiry into Gov. Sarah Palin’s firing of a popular and much-admired public safety commissioner. But after Governor Palin was selected as the Republican nominee for vice president, the controversy known as “troopergate” – so named because Palin was accused of using her office to take revenge on a state trooper who was once married to her sister – ballooned into a matter of international interest. The investigation, Palin critics said, belied her claims of being an ethics reformer and illustrated poor judgment by John McCain in selecting a running mate after so little vetting. But Palin supporters characterized the investigation as harassment orchestrated by Sen. Barack Obama’s Alaska supporters and as an unfair attack on the governor for her concerns about a former in-law she considered to unfit to wear a law-enforcement badge.

Full Story: Post ‘troopergate,’ Palin still popular in Alaska, just not as much - Christian Science Monitor

LOS ANGELES (Reuters) - Lisa Marie Presley, Elvis Presley's only child, gave birth to twin baby girls on October 7, celebrity news TV show "Entertainment Tonight" said on its website on Saturday.

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The girls, whose names were not given, were delivered by cesarean section and weighed 5 pounds, 15 ounces (2.7 kg) and 5 pounds, 2 ounces (2.3 kg). The twins are the first children born to Presley, 40, and her musician husband Michael Lockwood, 47.

Full Story: Lisa Marie Presley delivers twins: report - Reuters

Barack Obama's remarkable rise really does equate with his campaign's theme: "Change you can believe in." In that many Americans today are concerned, even fearful, of what their future holds, Obama has demonstrated time and again that, while he might be short on governing experience, character matters and that electing him president will be a fundamental change in leadership for America.

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For more than 20 months, the Illinois senator has been running for president, against tough and experienced opponents. There have been some serious challenges during this time -- the Rev. Jeremiah Wright, the revolt by some of Sen. Hillary Clinton's supporters -- but the candidate has demonstrated the kind of calm leadership, intelligence and skillful communicating that will be needed as America deals with the present economic crisis.

Full Story: As We See It: Elect Obama as next president - San Jose Mercury News

gets roughed up six ways to Sunday in a movie full of unpleasant subject matter like war and torture, and the flabby plot will leave moviegoers feeling a little worse for wear too.

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Russell Crowe ) clash mightily as CIA spooks, Roger dodging bullets on the ground, Ed ruling the roost in the comfort of his coastal manse. Things come to a head when they team up in the search for the Middle East's Next Top Terrorist, the mysterious Al-Saleem. Helping out is the head of Jordan's secret police, Hani Salaam ( Mark Strong ). Unfortunately Ed's arrogant ways may ruin this delicate alliance, and that's the big annoyance with the film. Ed seems too intelligent to act so idiotic; his interference overextends the movie as he continually comes between Roger and Hani.

Full Story: Body of Lies - E! Online

WASHINGTON (Reuters) - The United States on Saturday removed North Korea from its terrorism blacklist in a bid to revive faltering denuclearization talks in the final months of the Bush administration.

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The decision was made after North Korea agreed to a series of verification measures of its nuclear facilities, said State Department spokesman Sean McCormack. "The Secretary of Sate has rescinded the designation of the DPRK as a State Sponsor of Terrorism, effective immediately" McCormack told a news conference.

Full Story: US removes North Korea from terrorism blacklist - Reuters UK

HOLLYWOOD, CA (Hollywood Today) 10/9/08 – Jamie Lynn Spears, the 17-year-old actress and sister to Britney, claims she and her daughter’s father, Casey Aldridge, are in no hurry to set a wedding date. OK! magazine has continued its lucrative relationship with the Spears clan, releasing yet another interview with “Zoey 101” star saying the couple will remain engaged but unmarried.

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“We are engaged, and we are really happy with where we are right now. There is no rush for anything,” Spears told the publication, adding that she and Aldridge wanted their infant child, Maddie, to be old enough to actively participate in the wedding ceremony. “Some people think that you should just get married if you have a baby and you’re young,” Aldridge told OK! “I think you should try it out and see.” As for allegations circulating in the media of infidelity on Aldridge’s part, the couple definitively denied the rumors, blaming them on Liberty, Miss. townies purportedly out for publicity.

Full Story: Jamie Lynn Spears Not Marrying Boyfriend in Near Future - Hollywood Today Newsmagazine

Oct. 9 (Bloomberg) -- Treasury Secretary Henry Paulson signaled the government may invest in banks as the next step intrying to resolve the deepening credit crisis.

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Paulson told reporters in Washington yesterday thatlegislation Congress passed last week to rescue financialinstitutions gave him broad authority that he intends to use,beyond just buying mortgage-related assets on banks' balancesheets. He indicated that an option available may be boostingcompanies' capital with cash infusions. ``It is the policy of the federal government to use allresources at its disposal to make our financial systemstronger,'' Paulson said. ``We will use all of the tools we'vebeen given to maximum effectiveness, including strengthening thecapitalization of financial institutions of every size.'' Banks worldwide aren't raising enough capital to offsetlosses: while posting $592 billion of writedowns and lossesduring the crisis, they have added just $442.5 billion of newcapital, according to data compiled by Bloomberg. TheInternational Monetary Fund anticipates losses will more thandouble to $1.4 trillion.

Full Story: Paulson Signals US May Invest in Banks to Shore Up Confidence - Bloomberg

LOS ANGELES (Reuters) - The second nationally televised presidential debate between John McCain and Barack Obama drew 63.2 million viewers, over 10 million more than their first, Nielsen Media Research said on Wednesday.

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But the audience was still smaller than the nearly 70 million people who tuned in for last week's clash between their vice presidential running mates, Republican Gov. Sarah Palin of Alaska and Democratic Sen. Joe Biden of Delaware. Tuesday night's tense contest, held less than a month before the November 4 election, saw McCain and Obama spar over the best way to help struggling U.S. workers and highlighted the difference in their economic approaches.

Full Story: McCain-Obama debate drew 63.2 viewers - Reuters

Dollar recovers some after sinking sharply, as Federal Reserve and a host of banks around the globe cut rates.

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NEW YORK (CNNMoney.com) -- The dollar was mixed against global currencies Wednesday, after nations around the globe issued emergency interest rate cuts. In a move to boost economic growth in the midst of a worsening global financial crisis, the Federal Reserve lowered its fed funds rate by half a percentage point to 1.5%.

Full Story: Rate cut gives dollar a ride - CNNMoney.com

LOS ANGELES (Reuters) - A fire at Nick Nolte's home in Malibu, California gutted his living room on Tuesday, but the actor escaped with minor injuries after trying to douse the flames with a garden hose, officials said.

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The "Tropic Thunder" star suffered smoke inhalation and minor abrasions in the fire, which was caused by an electrical problem, Inspector Sam Padilla, a spokesman for the Los Angeles County Fire Department, said. The fire caused $3 million in damage to the structure and contents of the house but the home was not destroyed, Inspector James Barnes of the fire department said. The flames were confined to the living room.

Full Story: Fire damages actor Nick Nolte's home in Malibu - Reuters

Oct. 8 (Bloomberg) -- Hong Kong slashed the rate at whichit lends to banks and Australia offered longer-term funding ascentral banks across Asia tried to stem a surge in borrowingcosts that has started to choke the region's economic growth.

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The Japanese and Australian central banks pumped almost $22billion into the financial system after deteriorating creditmarkets forced the U.K. government to consider a bailout of itsbiggest banks and prompted Iceland to seek loans from Russia.Hong Kong changed the way it calculates its base rate, allowinga 1 percentage point reduction to 2.5 percent effective tomorrow. ``It's a relief as central banks are trying to make aneffort to stabilize the financial markets,'' said Keiko Onogi , adebt strategist at Daiwa Securities SMBC Co., one of the 24primary dealers that are required to bid at government bondsales in Tokyo. ``It's better than nothing.'' The cost of borrowing in dollars overnight in London jumpedyesterday as U.K. lenders held talks with the government onemergency funding and Iceland nationalized its second-biggestbank. The world's major banks may need $675 billion in capitalover the next several years to recover from the credit crisis,the International Monetary Fund said.

Full Story: Hong Kong Lowers Base Rate; Australia Offers Longer-Term Loans - Bloomberg

LOS ANGELES (Reuters) - A fire at Nick Nolte's home in Malibu, California gutted his living room on Tuesday but the actor escaped with minor injuries after trying to douse the flames with a garden hose, officials said.

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The "Tropic Thunder" star suffered smoke inhalation and minor abrasions in the fire, which was caused by an electrical problem, Inspector Sam Padilla, a spokesman for the Los Angeles County Fire Department, said. The fire caused $3 million in damage to the structure and contents of the house but the home was not destroyed, Inspector James Barnes of the fire department said. The flames were confined to the living room.

Full Story: Fire damages Nick Nolte's home in Malibu - Reuters

Thompson? Maybe...Not Activists at Value Voters Summit agree on one thing: There is no presidential candidate who can become the obvious choice of evangelical voters.

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With the Iowa caucus nearing, patrons of the Waveland Cafe in Des Moines are deluged with political messages, but many say they still had not made up their minds. Other diner videos show the Giulianis' diner-hopping in New Hampshire, including a stop at the Red Arrow, and an earlier visit to the Waveland , where voters are looking for a "real" Republican. Nashville Knockout: What To Watch For Riggers lift scaffolding into place in front of the Curb Events event site at Belmont University in Nashville, Tenn., Monday, Oct. 6, 2008, as preparations continue for Tuesday's presidential debate. (AP Photo/J. David Ake) Expectation is building in advance...

Full Story: Can McCain Change the Game? - Washington Post

These days, all they have to do is wake up on Sunday morning. If they don't see it replayed on a cable network, they can simply walk over to the computer and call up the "SNL" Web site. (SCROLL DOWN PAGE FOR VIDEO) And they do. Fey's first two Palin sketches this season drew more than 5 million Web views within the first 48 hours, according to "SNL." While Fey's Palin bits may not have sparked as much buzz as the Moose Dresser herself, they clearly became a hot media ticket. "SNL" ratings this season have leapt more than 40% over last year in Nielsen's metered markets.

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RELATED: 'SNL' SENDS UP VP DEBATE But even that doesn't fully reflect the dramatic increase in the number of people who have seen Fey's routines, or other TV "water cooler" moments, in this year's long election campaign. Barack Obama and Republican John McCain will be able to see it all over TV and the computer screen from almost the moment it ends.

Full Story: 'Saturday Night Live' is buzzworthy again, thanks to Tina Fey as ... - New York Daily News

The US presidential candidates have exchanged barbs as they prepare for a crucial debate on Tuesday evening.

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Barack Obama accused John McCain of "smear tactics" and said he was not paying enough attention to the economic crisis that has been gripping the US. John McCain said Mr Obama was "lying" about his ties to the home loan industry and asked what his rival had ever accomplished in government.

Full Story: Race turns bitter as debate looms - BBC News

Coincidentally, Fey, as the winking, flute-playing, media-bashing Alaskan governor, has appeared on three of those first four shows.

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SNL seemed to know this election year was going to be a boom time. The show pushed up its season premiere to mid-September to get in as much election material as possible prior to the Nov. 4 balloting. With summer winding down, "Desperate Housewife" star Nicolette Sheridan takes in some rays and shows off her sexy beach bod.

Full Story: Alive from New York, Fey's Palin Paces SNL - E! Online

The Dow Jones Industrial Average fell below 10,000 for the first time in nearly four years, losing more than 5 percent in mid-day trading Monday, extending a global sell off that sent London’s main stock index down the most since the October 1987 crash.

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Several local companies posted drops ranging from 1.5 percent to Tennessee Commerce Bankcorp's (TNCC) 20.14 percent drop to $11.50. HealthSprings Inc. (HS) fell 9.67 percent to $17.50; O’Charley’s Inc. (CHUX) fell 7.97 percent to $7.62; Healthways Inc.

Full Story: Nashville-area companies feel stock market slide - Bizjournals.com

The Disney film does better than expected, grossing $29 million and knocking 'Eagle Eye' into second place.

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By Peter Pae, Los Angeles Times Staff Writer October 6, 2008 A cast of diminutive dogs took a big bite out of the box office over the weekend as "Beverly Hills Chihuahua" debuted with a top-grossing $29 million. Disney's pooch picture fared better than expected and toppled "Eagle Eye," a DreamWorks-Paramount thriller, which fell to No. 2 in its second weekend in theaters.

Full Story: 'Beverly Hills Chihuahua' tops weekend box office - Los Angeles Times

Oct. 6 (Bloomberg) -- German stocks fell the most in eightmonths, sending the DAX Index to the lowest since July 2006, asthe deepening credit crunch forced the country's financialindustry to double a credit line for Hypo Real Estate Holding AG and the government to guarantee personal savings accounts.

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Hypo Real Estate, the nation's second-biggest commercial-property lender, tumbled 40 percent as the government and thecountry's banks and insurers agreed on a 50 billion-euro ($68billion) rescue package after an earlier bailout faltered.Deutsche Postbank AG, the country's biggest consumer lender bycustomers, declined 5.2 percent and Allianz SE lost 7.9 percent. The benchmark DAX Index dropped 4.9 percent to 5,511.32 asof 10:58 a.m. in Frankfurt, the steepest intraday slide sinceJan. 23, as all 30 stocks in the index except for Volkswagen AGretreated. The HDAX Index of the country's 110 biggest companiesslid 5.1 percent to 2,765.36.

Full Story: German Stocks Fall to Lowest Since 2006; Hypo Real Estate Drops - Bloomberg

The Disney film does better than expected, grossing $29 million and knocking 'Eagle Eye' into second place.

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By Peter Pae, Los Angeles Times Staff Writer October 6, 2008 A cast of diminutive dogs took a big bite out of the box office over the weekend as "Beverly Hills Chihuahua" debuted with a top-grossing $29 million. Disney's pooch picture fared better than expected and toppled "Eagle Eye," a DreamWorks-Paramount thriller, which fell to No. 2 in its second weekend in theaters.

Full Story: 'Beverly Hills Chihuahua' No. 1 at box office - Los Angeles Times

US Democratic presidential nominee Barack Obama has hit back at claims by his Republican rival that he associated with "terrorists".

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Mrs Palin said Senator Obama had been "palling around" with an ex-member of 1960s US-based militant group. Mr Obama said the Republicans were out of touch and trying to distract voters from the real issues.

Full Story: Obama rejects terror link 'smear' - BBC News

Apple stock plunges on false rumors that Jobs had heart attack 'Mixed emotions' over O.J. Simpson verdict, 13 years after L.A....

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On stump, Palin likens Obama associate to 'terrorists' Editorial: Seize this historic moment: Elect Barack Obama for... The verdict in the most recent O.J. Simpson trial came and went in the dark of night in a Las Vegas courtroom. The proceedings might not have been breathlessly awaited, but the outcome still provoked strong emotions through Los Angeles, a city indelibly marked by the first Simpson trial 13 years ago.

Full Story: Mixed emotions' over OJ Simpson verdict, 13 years after LA - San Jose Mercury News

COSTA MESA, Calif. (Reuters)- Republican vice presidential nominee Sarah Palin accused Democratic candidate Barack Obama on Saturday of "palling around with terrorists," marking a shift to a nastier tone in the White House race.

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The remark was dismissed by Obama as "gutter politics" but appeared to reflect an effort by Sen. John McCain's campaign to target Obama's judgment as the Illinois senator solidifies his national lead and gains an edge in vital battleground states a month before the November 4 election. It came shortly after McCain's campaign called Obama a liar and just days after both candidates urged Congress to set aside partisan politics to pass a $700 billion financial rescue package in a bid to revive credit markets.

Full Story: Palin says Obama friendly with terrorists - Reuters

The presidential contest is drawing more and more interest and the debate between Sen. Joe Biden and Alaska Gov. Sarah Palin was another TV audience peak as it drew approximately 70 million viewers.

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The number of viewers was 34% higher compared to last week’s debate between the main figures of this contest: John McCain and Barack Obama. The audience statistics were provided by Nielsen and didn’t include PBS, which estimated that it had about 3.5 million viewers. The Biden-Palin showdown was the most watched presidential debate since Nielsen began its specialized measurements of audience in 1960. The face off between the two senators blew away the old record for a vice-presidential debate between George H.W. Bush and Geraldine Ferraro. The showdown between the two took place in 1984 and was watched by 56.7 million people.

Full Story: Update: Palin-Biden Debate Drew 70 Million TV Viewers - eFluxMedia

In remarks at a Colorado airport hangar today, Gov. Sarah Palin tore into Senator Barack Obama with a twist that she ripped right from the headlines of this very newspaper.

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“There is a lot of interest, I guess, in what I read and what I’ve read lately. Well, I was reading my copy of today’s New York Times and I was interested to read about Barack’s friends from Chicago. “I get to bring this up not to pick a fight, but it was there in the New York Times, so we are gonna talk about it. Turns out one of Barack’s earliest supporters is a man who, according to the New York Times, and they are hardly ever wrong, was a domestic terrorist and part of a group that quote launched a campaign of bombings that would target the Pentagon and US Capitol. Wow. These are the same guys who think patriotism is paying higher taxes .

Full Story: Palin: Obama Is ‘Palling Around With Terrorists’ - New York Times

Pool photo by Steve Marcus/Getty Images O.J. Simpson and his attorney, Yale Galanter, listened as a guilty verdict was read at his trial in Las Vegas.

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stood up in court late Friday to hear the spray of guilty verdicts on robbery and kidnapping charges that may send him to prison for the rest of his life, he was already so far removed from the heights of his fame and popularity that an entire generation of young Americans was barely aware that he had ever been a football star. Ronald L. Goldman . Instead of millions of Americans obsessively stewing over the daily details in the case against him, a city block set aside for media tents was largely empty for the four-week trial. Mr. Simpson’s comings and goings were barely noticed.

Full Story: Many Stark Contrasts as Simpson Is Convicted - New York Times