FLINT-AREA BUSINESS

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FLINT TOWNSHIP, Michigan -- With stock markets falling, the auto industry looking for a bailout and the country entering a recession, two of the nation's top financial gurus will come to Flint to share their view of the crisis.

Baker College will host Senior Economist Sam Kahan and Vice President Robert Wiley, both of the Federal Reserve Bank of Chicago for a forum 1-3 p.m. Tuesday at Baker College of Flint auditorium, 1050 W. Bristol Road, Flint Twp.

They will deliver their view of the economy -- including Michigan's economy and the auto industry. The event is free and open to the public.

Evan Vucci | The Associated PressSen. Carl Levin, D-Mich. (left) huddles with his brother Rep. Sander Levin, D-Mich., on Capitol Hill in Washington, Wednesday, Nov. 19, 2008, as they testified before the House Financial Services Committee hearing on the automotive industry bailout.

Flint Journal extras: See below for more articles on this topic.

Note: This article has been updated from its original post at 1 p.m.

WASHINGTON, D.C. -- A bipartisan group of auto-state senators reached a last-ditch compromise Thursday to throw Detroit's Big Three a government lifeline worth billions, but the plan faces an uphill battle in a reluctant Senate.

With the auto bailout stalled, the fate of hundreds of thousands of workers and Detroit's once-venerable car companies hangs in the balance.

Senate Majority Leader Harry Reid, D-Nev., canceled plans for a vote on a bill to carve $25 billion in new loans out of the $700 billion Wall Street rescue fund. The Bush administration and congressional Republicans oppose that plan.

Warning of economic disaster, Democrats and Republicans from auto industry states reached a deal Thursday on an alternative package that would temporarily divert money from a fuel-efficiency loan program to cover the Big Three's immediate costs. But it was unclear whether it could draw enough support to pass.

Evan Vucci | The Associated PressAuto industry executives listen as UAW President Ron Gettelfinger, right, testifies on Capitol Hill in Washington, Wednesday, Nov. 19, 2008, before the House Financial Services Committee. From left are, General Motors Chief Executive Officer Richard Wagoner; Chrysler Chief Executive Officer Robert Nardelli; Ford Chief Executive Officer Alan Mulally; and Gettelfinger.

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WASHINGTON, D.C. -- A plan to give troubled U.S. automakers billions of dollars in government-backed loans is stalled on Capitol Hill, leaving the fate of hundreds of thousands of workers and Detroit's once-venerable car companies hanging in the balance.

Senate Majority Leader Harry Reid, D-Nev., canceled plans Wednesday for a vote on a bill to carve $25 billion in new auto industry loans out of the $700 billion Wall Street rescue fund. The Bush administration and congressional Republicans have rejected the Democrats' plan to dip into that pot of money.

Warning of economic disaster, a bipartisan group of senators from auto industry states is trying to reach a deal on an alternative package. Even if an agreement can be reached, Reid signaled Thursday that the Senate would likely not be able to consider the bill until after Thanksgiving.

"We have some procedural roadblocks," Reid said.

With all sides sensing doom for a Big Three automaker rescue, the finger-pointing began. White House press secretary Dana Perino said that if Congress "leaves for a two-month vacation without having addressed this important issue ... then Congress will bear responsibility for anything that happens."

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If General Motors goes bankrupt, what will it mean for worker pensions?

What about the warranty on your GM vehicle?

These are just two questions on people's minds today as the country waits to see if the Detroit automakers will receive a bailout from Congress.

So, tell us what questions do you have and we'll try to get them answered.

Feel free to post a comment below or email writer Ron Fonger.

Be sure to include your name and contact information.

The BlackBerry Storm from Verizon Wireless

The Storm is BlackBerry's first touch screen phone and it's clear that Research in Motion is targeting it's top competitor, Apple's iPhone.

I just returned from the Flint Township Verizon Wireless store and I've got to say the touch screen on the Storm is different than any other I've ever seen. Verizon's Rich Larobardiere has had the Storm since Friday and added that while it's taken him some time to get used to the SurePress touch screen technology, he has grown to love it.

I expect to get my own within the hour (I'm waiting for FedEx), so stay tuned for updates throughout the day.

Verizon stores across the state have the phone on display and are taking pre-orders. The phone will be available Friday, Nov. 21, in limited quantities.

BlackBerry Storm review: How will it compare to the iPhone?

This luggage locator is great for frequent fliers. It is available at JCPenney for $19.99.

Flint Journal extra: Related article: Inexpensive Christmas gifts for $10 or less

If you are talented enough to be able to knit scarves, carve a piece of wood into a treasure box, or bake breads worthy of a ribbon and gift card, you are probably already on your way to saving money on gifts for the upcoming holiday season.

But not everybody is quite so crafty. For those who need a little help coming up with gift ideas for a shrinking budget, get ready -- we're here to help.

Some cost little more than your precious time, some require a little creativity or shopping, but everything costs less than $25.

Land's End (www.landsend.com) has a holiday gift guide that breaks down gift categories by price.

In the under $15 category (if you order online you need to save room in the budget for shipping and handling) you can find everything from turtlenecks, towels and men's fleece vests to passport holders, pajama pants and a cable sweater for your pooch.

Electronic gadgets seem to be on everybody's list, and it's possible to keep a gadget lover happy for less than $25.

The Utensil Pot Clip is available at Sur La Table and other retailers for $7.

Flint Journal extra: Related article: Christmas gifts for less than $25 will keep the holiday merry

Flint Journal poll: What's your favorite type of Christmas gift? Vote in our poll below.

Budgets are tight this holiday season, but there's no need to break the bank for a gift that's both functional and fun.

Here are 10 worthy gifts for under $10:

• The Utensil Pot Clip ($7, Sur La Table and other retailers, www.surlatable.com) may not look like much, but it does create commotion in the kitchen. It ingeniously holds a spoon teetering above a pot of boiling water with a dash of cool. Continue reading "Inexpensive Christmas gifts for $10 or less" »