Stocks end week with mixed results and hope for carmakers

Date: Fri, 12 Dec 2008 17:06:47 -0500

Stocks end week with mixed results and hope for carmakers

U.S. stocks on Friday erase early losses to finish nearly flat for the
week after the Bush administration said it would step in to prevent a
failure of U.S. automakers amid worries that more layoffs would deepen
the recession.

WHITE HOUSE PLEDGE REVIVES HOPES FOR AUTO INDUSTRY

The Treasury Department says it would step in and lend funds to the
Big Three automakers until Congress has time to consider a long-term
rescue package for the beleaguered U.S. industry.

CHIP SALES TO FALL FOR JUST FIFTH TIME IN 25 YEARS

The semiconductor industry will post a decline in annual sales this
year, only the fifth time that has happened in past quarter of a
century, an industry research group says.

INVESTOR SUITS EXPECTED AGAINST FUND PONZI SCHEME

High-net-worth and pension-fund investors are expected to launch a
rash of investor lawsuits on the federal and state levels against
Bernard L. Madoff Investment Securities LLC, whose founder was
arrested and charged with securities fraud in what federal prosecutors
are calling a Ponzi scheme that could involve losses of more than $50
billion.

BOSSES TURN TO GRINCHES AS LIGHTS GO OUT ON HOLIDAY PARTIES

Companies big and small are giving the pink slip to traditional
once-a-year gatherings that spread good cheer, give thanks for a tough
year and let the maintenance crew rub elbows and tell tales at the bar
with the higher ups.