Is $100 million too much for one year for one Citigroup trader? That's what the White House pay czar may decide as he starts his compensation review at bailed-out financial firms. But Citi is arguing that its energy trader deserves the money. Takeaway friend and finance expert Alvin Hall looks at the bank's argument. And we speak to two people with an opinion: Matt Spaulding is a small business owner in Atlanta; and Judy Coughlin is a clerical worker in Lowell whose union just voted for a pay freeze.
Watch a Fox Business News report on Citigroup's push for compensation.
As hundreds turned out for Eunice Kennedy Shriver's public wake on Thursday, we look at what her death means for one of the greatest political dynasties in the history of the United States. Political columnist Joan Vennochi of the Boston Globe joins us with a look at who stands to inherit the Kennedy crown.
If you weren't able to attend Ms. Shriver's wake, here's the coverage from the Cape Cod Times:
President Obama's pledge to shut down the infamous federal detention center at Guantánamo Bay, Cuba, by January 2010 means the administration needs to quickly find a place for the 229 detainees still housed there. After federal officials took a tour of the facility on Thursday, speculation mounted that the new Guantánamo might be a maximum security prison in Standish, Michigan (population 1,581). We speak to Detroit Free Press reporter Kathleen Gray, who was at the prison during the tour, and to the mayor of Standish, Kevin King, about what this might mean for the town.
The number two automaker in the United States is enjoying a surge in sales, thanks to the federal government's "Cash for Clunkers" program. On Thursday, Ford announced it would be boosting production on both the Ford Focus and the Escape to keep up with demand. The company’s chief sales analyst, George Pipas, talks with us about Ford’s prospects. ... (click through for the full transcript)
General Motors says it will open a new plant to assemble battery packs for the soon-to-be released Chevy Volt, the company's new rechargeable electric car. The media blitz for the Volt began on Tuesday, focusing on the car's projected gas mileage (230 miles per gallon on city streets) and downplaying the car's hefty price tag ($40,000).
GM plans to open the battery plant in Wayne County, Michigan; it's expected to create 100 new jobs in the economically struggling county. We talk to New York Times auto industry reporter Nick Bunkley and Wayne County executive Robert Ficano about new cars and new jobs.
It's a summer Friday, which means that new movies are opening nationwide. To help us navigate Hollywood's new releases we speak with Wesley Morris, film critic for the Boston Globe. This week he gives us his thoughts on two films to avoid (*cough*The Time Traveler's Wife and The Goods: Live Hard, Sell Hard*cough*) and two to watch: Ponyo and Peter Jackson's District 9.
Rachel McAdams, who is a lovely, mysteriously aged actress – she could be 13, she could be 35, it's unclear – and Eric Bana, who is very manly and fulfills his contractual obligation to take off his clothes at some point. They're good stars! I like watching them... in other movies! Together, they don't really have anything, and the movie basically is not about the love they have for each other, it's about how hard it is to keep that love going when you're contending with the special effects department. — Wesley Morris on the stars of "The Time Traveler's Wife"
Decide for yourself! Here's the trailer for "Ponyo"
And here's a preview of "The Goods: Live Hard, Sell Hard":
U.S. Secretary of State Hillary Clinton ends her 11-day trip across Africa today with a stop in the nation of Cape Verde. The State Department calls Clinton’s Africa trip a success, but her critics brush it off as little more than a “goodwill listening tour." Jendayi Frazer, former assistant secretary of state for Africa under the Bush administration, helps The Takeaway assess the significance of Clinton's trip.
Les Paul, the man known as "the father of the electric guitar,” passed away yesterday at the age of 94. Paul was inducted in to the Inventors Hall of Fame in 2005 for the innovations he brought to the science of recording. We speak to three-time Grammy nominated recording engineer Mark Rubel about the legacy Les Paul leaves behind.
Tomorrow, in the midst of a string of health care town halls, President Obama is squeezing in a family trip with Michelle and his daughters. The Obamas will visit the Grand Canyon and Yellowstone National Park. The former mayor of West Yellowstone, Montana, Jerry Johnson, tells us how the locals are responding to the impending presidential visit.
Louise Story, finance reporter for the New York Times, joins The Takeaway to help parse the latest economic data. The Consumer Price Index remained flat in July, making for an annual decline of 2.1 percent — the largest in 60 years. Industrial production, however, rose in July for only the second time since the recession officially began in December 2007. Story says that the minimal change in inflation is a good sign, which will allow the Fed to keep on its current monetary strategy.
This Sunday, AMC kicks off the third season of its runaway hit, Mad Men. Set in 1960’s New York City, the show celebrates the world-weary cool of the Madison Avenue advertising world. It also portrays an America in transition, having passed through the doldrums of the Eisenhower era and not yet ready for the free lovin’ Woodstock nation. For a look at what this year’s Mad Men brings to the small screen, we are joined by Eric Deggans. He is the television and media critic for the St. Petersburg Times. And to gauge if Mad Men gets the advertising world right, we are joined by Cindy Gallop. She is an advertising consultant and former chairman of the advertising agency BBH.
Courtesy of AMC TV, here's the finale of season 2: