GM Needs 16.6bil to Avoid Bankruptcy

18 02 2009

General Motors has told the government that they need another 4.6bil in loans, and 12bil in financial aid in the coming weeks.


Obama’s Plan to Reduce Foreclosures

17 02 2009

President Obama’s plan to reduce the flood of home foreclosures will include a mix of government inducements and new pressure on lenders to reduce monthly payments for borrowers at risk of losing their houses, according to people knowledgeable about the administration’s thinking.

The plan, to be announced Wednesday, is expected to include government subsidies for reducing a borrower’s interest rate, which a lender would have to match with its own money.

But officials cautioned that subsidies for lower interest rates would not in themselves help many troubled homeowners, because lenders were still likely to view many of those borrowers as bad risks and refuse to restructure their loans. As a result, they have been casting about for sticks as well as carrots to persuade the lenders to take part.

Exactly what kind of pressure Mr. Obama would bring to bear remains unclear. One possibility is a stepped-up effort to enact legislation that would give bankruptcy judges new power to restructure mortgages and reduce a borrower’s payments.

Microsoft Sued Over Windows XP Downgrade Fees

16 02 2009

Microsoft was sued by Emma Alvarado over the fees they charge over DOWNGRADING from Vista to XP

Microsoft gets sued over Windows XP downgrade fees – Engadget

Landmark Pirate Bay Trial Begins Monday

15 02 2009

Tomorrow, the much-anticipated criminal trial of the men that run The Pirate Bay will begin.  If found guilty, each man may be forced to spend up to 2 years in jail, and be fined up to $180,000USD

Landmark Pirate Bay Trial Begins Monday

Resuming Work

15 02 2009

Over the last few months, I have become lazy. I greatly appreciate many people continuing to visit the site, and I’m going to resume making it worthwhile. Commencing tonight, FryLife will be, once again, fully operational! Thanks!