Bailout burden down to $25B
Congress' independent budget agency says the cost to taxpayers of the contentious $700-billion financial rescue has dwindled to $25 billion. The Congressional Budget Office estimates that as of this month the government will recoup most of the money spent. The $25 billion represents unrecovered money spent to bail out insurance giant American International Group and automakers Chrysler and GM. All three have repaid some of the rescue money.
Fixing Prius coolant pumps
Toyota is fixing the pumps that cool the hybrid system in 650,000 Prius cars but is adamant the repair being carried out worldwide isn't another recall. Toyota Motor Corp. spokesman Paul Nolasco said Tuesday that the coolant pump in its 2004-2007 model Prius is being replaced because it doesn't work properly. The car's hybrid system switches off when the problem occurs and the vehicle's regular gasoline engine takes over, he said. Of the cars that need fixing, 390,000 are in North America. The automaker said there have been no reports of accidents related to the coolant problem.
Stocks end month at a loss
Stocks ended November on a down note Tuesday, notching their first monthly losses since August. The Dow Jones industrial average fell 46.47 points, or 0.4 percent, to close at 11,006.02 after being off 110 points earlier in the day. The Standard & Poor's 500 index fell 7.21 or 0.6 percent, to 1,180.55. The Nasdaq composite index dropped 26.99, or 1.1 percent, to 2,498.23.
From wire reports
Last ride for Roy Rogers on LI
The last Roy Rogers on Long Island has closed. Dave Coffman, a regional facilities manager for the Hardee's Food Systems, which owned the franchise, said the lease was ending for the Shirley location at the end of December and they decided to close it before the cold weather kicked in. - Carl Corry