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Financial Headlines

Banks Borrow Less, Investment Firms Borrow More The Federal Reserve says commercial banks borrowed slightly less from its emergency lending program, while investment firms stepped up their loans. (Full Story)

Stocks Steady At Midday After Early Decline Stocks have erased some early morning losses, which came after discouraging sales reports from many of the nation's big retailers, and word of big job cuts at AT&T and DuPont. (Full Story)

Bernanke: More Action Needed To Cut Foreclosures Federal Reserve Chairman Ben Bernanke is calling on the government to ramp up efforts to stem home foreclosures that are feeding into the country's deep economic troubles. (Full Story)

KPERS Loses 27 Percent State lawmakers have been told that the Kansas Public Employee Retirement System lost almost 27 percent of its value in 2008, a record decline. (Full Story)

Ford CEO Offers To Work For $1 CEO Alan Mulally said he'll work for $1 per year. (Full Story)

Survey: Regional Recession Will Rival 1981-82 In Unemployment A Creighton University economist is predicting that the Kansas jobless rate will exceed 5.2% in February. Professor Ernie Goss cites layoffs at the Boeing plant in Wichita and aviation-related cuts. (Full Story)

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Business Headlines

Congressional Analysts: Auto Aid Plan Falls Short Congressional officials say an auto bailout plan to tap fuel-efficiency loans for emergency aid to the Big Three doesn't come close to covering the $34 billion carmakers say they need to survive. (Full Story)

CEO Says Pay, Cost Cuts Will Keep YRC Going The CEO of Overland Park-based YRC Worldwide says he expects a proposed union wage reduction and other planned cuts are "more than enough to ride out the economic downturn." (Full Story)

Judge Bans Mattel Rival MGA From Making, Selling Bratz Shares of Mattel are soaring today after a big court victory for the toy giant that could leave a lot of young girls upset. (Full Story)

Quaker Cuts 82 Jobs In Manhattan The Quaker Oats plant in Manhattan will lay off 82 full-time employees, effective Jan. 30. (Full Story)

Collective Brands' 3Q Profits Jump 86 Percent Shoe retailer Collective Brands is weathering the recent economic downturn, reporting that its third-quarter profits rose 86%. (Full Story)

Pratt & Whitney To Lay Off 350 Employees A Pratt & Whitney spokeswoman says the jet-engine manufacturer is laying off about 350 salaried employees across the country, with most of the cuts coming in Connecticut. (Full Story)

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