About 29 years ago -- in August 1979 -- Chrysler was at death's door. It made gas guzzlers that nobody wanted to buy and it asked for $1 billion to keep itself going until a fleet of more fuel efficient cars could take up the sales slack. If it failed, a Congressional Budget Office study said that 360,000 jobs would be lost.

The U.S. turned down Chrysler's request and offered loan guarantees to encourage banks to make Chrysler the loans it needed to cover its $100 million a month operating expenses until the new car line could hit the dealer floors. That story had a happy ending -- and offers some lessons for the current situation.

Except for the much smaller numbers this story sounds much like the plight of General Motors (NYSE: GM) . As I posted, GM is trying to convince the Congress that it will fail without a $25 billion bailout and that such a failure would cost 2.5 million jobs and $125 billion in lost economic activity. It remains to be seen whether the U.S. will come through with the money that GM wants.

With the U.S. Federal Appeals Court of San Francisco's ruling that threw out proposed fuel economy standards, look for a renewed effort by the current U.S. Congress to pass new, tougher standards, possibly by year's end, a source familiar with various lobbying groups told Bloggingstocks.

Based in Washington and familiar with Democratic Party and energy-issue constituencies, the source told Bloggingstocks that some legislation, albeit minor, was now likely.

"Don't expect miracles, but the public sentiment and Congressional support appears to be there for a modest increase in CAFE [Corporate Average Fuel Economy] standard," he said, speaking on condition that he not be identified by name. He added that to-date the Bush Administration has resisted raising the CAFE; if the administration does so again, it's unclear whether Congress would have the votes to override the veto.

8 Stocks With Rising Dividends
Dividend-paying stocks don't have to be stodgy. Whether you're 25 or 75, you can use dividend trends to flag solid growth companies run by managers who truly care about their shareholders. These include M&T Bank, W.W. Grainger, Harley-Davidson, Johnson Controls, Seaspan, Praxair, Fastenal and Expeditors International.
The Lure of Rising Dividends - Kiplinger.com


How to Live Like a Billionaire
What does it take to live the life of luxury like one of the world's billionaires? First you need a Gulfstream IV private plane, luxury yacht like the Wally 107, private island, sports car, centurion AmEx, palatial estate, domestic help, private chef, your own sports team and more.
How To Live Like A Billionaire - Forbes.com


$2 Billion in Unclaimed Tax Refunds Could Be Yours
Three years ago 1.8 million individuals decided they had better things to do than file their 2003 tax returns, even though they were due refunds. In total, more than $2.2 billion from that tax year is still sitting in the Internal Revenue Service account. If you think you are one of these 1.8 million people you've only got a few more weeks to claim it.
IRS holding billions in old, unclaimed tax refunds State-By-State Breakdown of Unclaimed Refunds


Take the Sting Out of Credit Card 'Gotchas'
Americans use credit cards to pay for everything from groceries to speeding tickets. But they're increasingly besieged by colossal fees and interest-rate increases that seem to hit them without warning or justification. Under scrutiny from the Democrat-led Congress, which held hearings on credit card practices last week banks also are feeling competitive pressure to become more consumer friendly. Some unpopular practices that credit card issuers are abandoning include: double billing and universal default.
How to Keep Your Credit Card Costs Down - USATODAY.com


Generic Doesn't Always Mean Cheap
At a time when policy makers are searching for ways to cut health-care costs, generic drugs are often viewed as one of the most straightforward solutions. But prices can vary wildly, and may not be nearly as cheap as expected.
Why Generic Doesn't Always Mean Cheap - WSJ.com

DaimlerChrysler AG's (NYSE:DCX) is now looking for "serious" bidders for its money-losing Chrysler, unit, according to well-timed leaks to the media.

I always read about "serious" bidders in every prolonged mergers and acquisitions story. What the heck does that mean? Are their half-hearted bids? Joke bids? Of course not. This is just a stupid bit of jargon.

Getting back to Daimler, the automaker is hoping to narrow down the list of potential buyers before its April 4 shareholders meeting. Cerberus Capital Management and a group lead by Blackstone Group and Centerbridge Partners are the interested bidders, according to the Wall Street Journal.

It's interesting that most companies and investment bankers will never publicly discuss mergers and acquisitions with the media but will blab about them endless on a not-for-attribution basis when it serves their purposes. Daimler needs to show its shareholders that it's serious about unloading Chrysler. Bankers need to show current and potential clients that they are in the hunt for big deals.

They both have to plot their strategy without giving too much away to the press otherwise they will appear to be weak but they need to keep the story going. That's why every twist and turn of the merger process is dutifully told to the media on a background basis.

U.S. stock markets are poised to open higher today following a rebound in Asia. Dow Industrials, S&P 500 and Nasdaq 100 index futures all advanced.

But investors' re-minted optimism may not last long.

Later today, the U.S. Labor Department is expected to revise its fourth-quarter productivity growth rate downward, while a U.S. Commerce Department report is expected to show a decline in January factory orders, according to the Associated Press. The National Association of Realtors also is due to report January pending home sales figures.

These are confusing times. Even I can't remember the right date for this post.

Forget about Bill O'Reilly, you are about the enter the real no-spin zone.

With an apparent straight face, DaimlerChrylser AG (NYSE:DCX) Chief Executive Dieter Zetsche said that his company's willingness to dump -- I mean sell -- Chrysler isn't the result of pressure from either shareholders or his advisory board. In an interview with the Wall Street Journal (subscription required), the lovable Dr. Z calls it "proactive development, not a reactive development." How do you say BS in German?

U.S. Treasury Secretary Hank Paulson, who apparently has been working with Dr. Z's PR consultants, told an audience in Japan that rising defaults among subrpime lenders won't spread to less risky creditors, according to Blooomberg News. Time to start snapping up shares of New Century Financial Corp. (NYSE:NEW).

Those boy scouts at Microsoft Corp. (NASDAQ:MSFT) are apparently ready to say mean things about Google Inc. (NASDAQ:GOOG) cavalier attitude toward copyrights. When asked to comment, Google asked if "copyright" was some new Web 2.0 application or a new jam band. No seriously, Google chief counsel David Drummond repeated the company's line that it complies with existing laws. Then he started doing an impression of Aretha Franklin much to the horror of everyone.

But the gold star for excellence in public relations has to go to AAA Travel Group spokesman Geoff Sundstrum for this insightful analysis about the 12.2 cent rise in gasoline prices last week. "Certainly, no one wants to pay a high price for gasoline. But if you're feeling good about your job and your income, you're much more willing to do that than if you're concerned as to whether you'll be working a month or two from now," he told USA Today.

Interesting. I didn't realize that people with steady jobs are less worried about spending than those without them.