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Consumer Corner: Foreclosure settlement no magic bullet for economy
CHICAGO, May 15 (UPI) -- William Daley, the Clinton-era Commerce Secretary and Democrat powerbroker, resigned abruptly Friday from his job as president of SBC Communications.
Daley, the Chicago Tribune said Saturday, will reportedly return to Chicago.
Word of his sudden departure from his $1.2 million job as the telecommunications giants' no. 2 official came in a terse announcement quoting SBC Chairman and CEO Edward Whitacre as saying, "We appreciate Bill's efforts on behalf of SBC and wish him well."
According to unidentified sources, "Daley plans to announce a new position with a Chicago employer" sometime in the near future.
The one-time manager of former Vice Presidential Al Gore's 2000 presidential campaign, Daley is the brother of current Chicago Mayor Richard M. Daley and the son of Richard J. Daley, himself a longtime Chicago mayor and a legendary Democrat powerbroker.
His departure comes at what the paper said is a, "a critical time politically for SBC and the telecommunications industry," as the U.S. Congress is considering whether to again rewrite the federal laws governing the telecommunications industry.
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TEHRAN, Feb. 14 (UPI) --
More than 31 billion cubic feet of recoverable natural gas reserves have been discovered in Iran in roughly one year, the oil ministry said.
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WASGHINGTON, D.C., Feb. 13 (UPI) --
Defense industries are weighing the potential impact of proposed defense cuts running into tens of billions of dollars over the next 10 years.
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Local markets will probably not be swamped by waves of foreclosures following the multi-state mortgage settlement announced yesterday. Rather, the huge inventory of one to two million foreclosures will enter markets gradually....
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Investors will not have the distraction of financial reports to look forward to this week. They will have to look at the spot news headlines instead.
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