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On the Radar: Bloodshed in Libya, Assange's extradition case, GM profits
Turmoil in Libya - It's Day 10 of anti-government protests in Libya. There were bloody clashes Thursday between security forces and demonstrators in Zawiya, a town west of the capital, Tripoli. Seven people have died there, witnesses said. "Blood is all over the streets," a mother told CNN, saying her son had been shot. A witness said the violence began when people who support leader Moammar Gadhafi came into the city square and encountered those who are protesting his ouster.
Speaking by phone Thursday on state TV, Gadhafi blamed the country's violence on young people, who he said were taking drugs and being influenced by al Qaeda. Addressing the situation in Zawiya, he said, "We shouldn't leave (the town) without any control."
Dollars & Sense: Cashing in on snow; carmakers steered toward Super Bowl
A roundup of today's CNNMoney news:
Cashing in on snowstorms: With record amounts of snow blanketing some of the nation's warmest cities this winter, an increasing number of companies are protecting themselves by betting on snow. And it can really pay off.
Mets' owners: $300 million in Madoff profit? The owners of the New York Mets, the Wilpon and Katz families, are accused of being aware of concerns about what proved to be the biggest Ponzi scheme ever. The court-appointed trustee in the Madoff Ponzi case accused the owners of reaping $300 million in profit from the scheme.
Carmakers driven to advertise on Super Bowl: Just two years after the U.S. auto industry was nearly wiped out, automakers are back with a vengeance in this year's Super Bowl. Nine companies are purchasing multimillion-dollar spots for the big game. Check out some past rejected Super Bowl ads.
White House: Innovate, educate, win! President Obama wants to add 100,000 math, science, technology and engineering teachers by the end of the decade, extend wireless internet coverage to 98% of the population and have 80% of the nation's electricity come from clean energy sources by 2035.
$7,500 electric car discount scares dealers: The Obama administration has a plan that would put up to $7,500 directly in the hands of car buyers without having them jump through any tax hoops. There is a tax credit for plug-in vehicles, but as it stands now, car buyers have to wait until tax time to get any money back. Meanwhile, excess is back as Ferrari sales soar.
New hires not yet buoying the spirits of autoworkers
American automakers are modestly adding new jobs that some say signal a strengthening American manufacturing sector.
Autoworkers are not celebrating yet.
Second-generation GM autoworker Leonard Smith says the last time he checked, there were still some 6,000 workers laid off.
“The plant I’m working at now at Marion, Indiana, has 70 original hires out of 1,400 employees,” Smith said.
On the Radar: State of the Union reaction, new Toyota recalls, Giffords' condition
Review of Obama's speech - If you missed President Barack Obama's speech to the nation Tuesday night, here's a full transcript and video. The president touched on many familiar themes, and CNN's iReporters tried to sum up all his points in a single tweet.
How about the "economy"? Obama said it's headed in the right direction but the country's priorities should change, especially when it comes to spending. The president called for increasing investments in key areas such as education and clean energy, but he also wants to make reductions in spending to help get America's deficit under control and proposed a five-year domestic spending freeze.
During another portion of the speech, he highlighted a small-business owner, describing the man's story as a symbol of the American dream. Obama also spoke of U.S. Rep. Gabrielle Giffords, who is recovering from a gunshot wound to the head after a gunman's rampage at a political meet-and-greet this month in Tucson, Arizona. The congresswoman's name was met with applause.
On Wednesday, the president will take his message on the road, discussing opportunities for job growth in clean energy during a stop in Wisconsin.
Dollars & Sense: $3,000 average tax refunds; world’s fastest electric car
A roundup of today's CNNMoney news:
Average tax refund in 2010: $3,003: The IRS doled out refunds totaling $328 billion in 2010, a nearly 3% rise from 2009. The jump was one of the biggest in years, thanks in part to several tax credits.
Spending fast: I paid off $18,000 in a year: This freelance photographer set out to cut her debt by spending ONLY on necessities. That meant no more eating out, no more movies, no more shopping. It was tough … but it worked.
The world's fastest electric car (video): Venturi Motors, in collaboration with Ohio State University, set a world record for fastest electric car.
Autoworkers get fat profit-sharing bonuses: GM, Ford and Chrysler want to tie new labor contracts to profits, vehicle quality and other performance measures, rather than straight wage increases. That could bode well for autoworkers.
California insurer bows to 59% rate hike backlash: A week after announcing that it would increase premiums by as much as 59%, Blue Shield of California has hired an outside expert to review its move, promising to make refunds to its policy holders, with interest, if the new rates are found to be excessive.
Dollars & Sense: 3-D TVs at CES, Ford gets high marks from consumers
A roundup of today’s CNNMoney news:
A spike in small-business hiring: Companies with fewer than 50 workers added 117,000 jobs in December. That’s the biggest monthly surge in almost five years. And companies that have fewer than 500 workers added 261,000 new positions, according to payroll processor ADP.
Boehner targets House spending: Last year, the House shelled out almost $190,000 for bottled water during the first quarter. During the same period, members also spent $10.2 million on mail and $6.4 million on travel. New House Speaker John Boehner wants to cut lawmakers' office budgets by 5%, which is only $35 million, but he says you have to start somewhere.
3-D TVs without glasses (video): Can’t get to the Consumer Electronics Show but want to know what techies are talking about? How about a 3-D TV that you don’t need to buy glasses to watch? Toshiba has one, and you’ll be able to buy your own by the end of the year. If you can’t wait that long, you’ll be able to get your hands on a 3-D laptop this summer. Are they any good? Watch our preview.
Holiday 2010 winners and losers: 2010 was one of the best holiday seasons retailers have seen in years, with shoppers hitting Macy’s, Kohl’s, Ann Taylor, Gap, Apple and Target. But with gas prices above $3 a gallon, consumers might take a breather and regroup after the holiday marathon.
Shopping for a new car? You might want to consider a Ford: The brand is getting high marks from consumers. Toyota is still No. 1, but Ford is nipping at its heels, according to Consumer Reports.
Ford, Chrysler recalling thousands of vehicles
Ford Motor Co. is recalling 19,600 2011 model year trucks and crossover SUVs over concerns that an electrical short could cause a fire, the manufacturer said Thursday.
Chrysler Group LLC also is recalling nearly 145,000 trucks and crossover wagons in three separate campaigns for steering, stalling and airbag concerns, according to letters posted this week on website of the National Highway Traffic Safety Administration.
Ford decided to recall certain 2011 model year F-150 trucks, Super Duty trucks (F-250 through F-550) and its Edge and Lincoln MKX vehicles after fires started in the cabs of two F-150 trucks at a Michigan assembly plant in November and December, the company said in a letter Monday to the NHTSA.
FULL STORY
Honda eliminating boxy Element
The Honda Element, popular with dog owners and some types of businesses, will be discontinued after the 2011 model year, American Honda Motor Co. announced Friday.
Introduced in December 2002, the Element started a trend of box-on-wheels design reflected in Toyota's Scion xB and Mitsubishi's Outlander, among others.
"The Element proved that ultimate functionality can often come from thinking inside the box," John Mendel, executive vice president of American Honda, said in a press release. "It made boxy vehicle designs cool."
GM to sell shares worth $13 billion
General Motors says it will sell 365 million shares in $13 billion initial public offering at an estimated $26 to $29 per share.
Toyota reaches settlement over product liability claims
Toyota has reached a settlement with two families over product liability claims, a spokesman for the automaker said Friday night.
Toyota announced voluntary safety recall for Corollas
Toyota has announced a "Voluntary Safety Recall" on Certain Toyota Corolla and Corolla Matrix Models, CNNMoney.com has confirmed.
The company says the recall is to address some “Engine Control Modules (ECM) that may have been improperly manufactured.”
The voluntary recall is for the approximately 1.13 million 2005-2008 model Corolla and Corolla Matrix models sold in North America.
No other Toyota or Lexus vehicles are involved in this recall, the company says.
There are three unconfirmed accidents alleged to be related to this condition, one of which reported a minor injury, the company says in its press release.
The day's most popular stories
The five most popular CNN.com stories during the last 24 hours, according to Newspulse.
Four bodies found in Maryland home: Investigators are questioning at least one person in the deaths of four people found Friday in a debris-filled Maryland home that "gives the appearance of a landfill," the police chief said.
'Birther' Army doctor faces court martial: Charges should be thrown out against the Army officer who refused deployment to Afghanistan because he says President Obama doesn't have the authority to send him, his lawyer said.
Toyota recalls Sequoia SUVs
Toyota Motor Sales has announced plans to recall about 50,000 Toyota Sequoia SUVs because of a problem with their Vehicle Stability Control systems that can cause the vehicles to hesitate or slow down at low speeds.
The SUVs involved were all manufactured early in the 2003 model year. As part of the planned recall, Toyota will upgrade the VSC software.
"In vehicles without the upgrade, the VSC system could, in limited situations, activate at low speed (approximately 9 mph) for a few seconds after acceleration from a stopped position and, as a result, the vehicle may not accelerate as quickly as the driver expects," Toyota said in a written announcement.
GM to add 1,600 jobs
General Motors will announce Tuesday that it will add 1,600 jobs as part of a $890 million upgrade of five plants in North America, according to a person familiar with the matter.
Toyota recalls 9,400 Lexus GX 460 SUVs
Toyota Motor Corp. has announced a recall of 2010 model year Lexus GX 460 SUVs. The recall is related to an increased risk of rollover.
The recall covers about 9,400 SUVs in the United States.
Toyota suspends sales of Lexus GX 460
Toyota asked dealers to temporarily suspend sales of the new 2010 Lexus GX 460 after Consumer Reports issued a safety warning on the SUV.
"We are taking the situation with the GX 460 very seriously and are determined to identify and correct the issue Consumer Reports identified," said Mark Templin, Lexus Group vice president and general manager, in a prepared statement.
Earlier on Tuesday the magazine said there was an increased risk of rollover during a turn, a problem it uncovered during routine tests. It urged car shoppers not to buy the GX 460 until the problem is remedied.
New Toyota documents shed light on accelerator concerns
CNN has obtained e-mails between Toyota execs over concerns with the company’s accelerator pedals, which came under fire after several reports of unintended acceleration in their vehicles.
The documents also include a timeline of events related to concerns over the issue.
CNN reached out to Irv Miller, Toyota's group vice president for environmental and public affairs, in response to the e-mails he wrote. He declined to do an interview or offer any context to the emails.
"I have no comment at all," Miller said.
Read the emails (PDF) | Read the timeline (PDF - Part 1) | Read the timeline (PDF - Part 2)
Agency seeking $16 million penalty against Toyota
[Updated at 4:29 p.m.] Under federal regulations, automakers are required to inform the agency within five days of determining that a safety defect exists in one of its products. NHTSA learned, through documents obtained from Toyota, that the automaker knew of sticky gas pedal problems since at least September, 2009, the agency said in an press release.
"We now have proof that Toyota failed to live up to its legal obligations," said Secretary LaHood. "Worse yet, they knowingly hid a dangerous defect for months from U.S. officials and did not take action to protect millions of drivers and their families. For those reasons, we are seeking the maximum penalty possible under current laws."
NHTSA is still investigating to see if Toyota committed any additional violations that may warrant more penalties, the agency said. Under federal regulations, $16.4 million is the most an automaker can be fined for a single violation.
GM announces van recall
General Motors is recalling 5,000 heavy-duty vans due to a risk of engine fire.
Toyota seeks consolidation of acceleration lawsuits
An attorney for Toyota Motor Co. told a panel of federal judges Thursday that the company prefers to have the dozens of lawsuits filed against it nationwide consolidated into a single lawsuit, preferably heard in Los Angeles.
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