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Wednesday, May 21,2008
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Definition of the Week:
Oligopoly
Definition of the Week
Oligopoly
When
a few firms dominate a market. Together, they can behave as if they
were single monopoly, perhaps by forming a cartel. Or they may collude
informally, by prefering non-price competition to a price war.
Also in The New Economy:
Elections 2008
Obama seeks greater rein on financial institutions
(AP)
AP - President Barack Obama says he wants Congress to pass legislation giving the government greater regulatory authority over financial institutions like American International Group.
Sources: Pentagon to stop forced tour extension
(AP)
AP - The Army will substantially reduce use of the unpopular practice of holding troops beyond their enlistment dates and will pay $500 to those still forced to stay in the service, defense and congressional officials said Wednesday.
AIG head shares US anger of bonuses but backs them
(AP)
AP - The chief executive officer of failed insurance conglomerate AIG acknowledged Wednesday that the company's multimillion-dollar bonuses were "distasteful" to many and had provoked a firestorm of wrath. "I share that anger," Edward Liddy, chairman and CEO of the American International Group Inc., said in testimony prepared for Congress.
Analysis: White House, Dems backpedaling on AIG
(AP)
AP - For the first time since last fall's election, Democrats and the Obama administration are backpedaling furiously on an issue easily understood by financially strapped taxpayers: $165 million in bonuses paid out at bailed-out AIG.
Pence: Return AIG donations
(Politico)
Politico - House Republican Conference Chairman Mike Pence is urging politicians from both parties to strongly consider returning campaign contributions from AIG.
..Search Shepherd Express
Top Stories
AIG head shares US anger of bonuses but backs them
(AP)
AP - The chief executive officer of failed insurance conglomerate AIG acknowledged Wednesday that the company's multimillion-dollar bonuses were "distasteful" to many and had provoked a firestorm of wrath. "I share that anger," Edward Liddy, chairman and CEO of the American International Group Inc., said in testimony prepared for Congress.
Obama seeks greater rein on financial institutions
(AP)
AP - President Barack Obama says he wants Congress to pass legislation giving the government greater regulatory authority over financial institutions like American International Group.
Consumer prices rise by largest amount in 7 months
(AP)
AP - Consumer prices rose in February by the largest amount in seven months as gasoline prices surged again and clothing costs jumped the most in nearly two decades.
Crude
