- General Motors and Chrysler received $20.8 billion in federal bailout funds as of February 2nd. The deadline to prove viability to the government is approaching. - Stocks ended Monday with only modest changes as investors awaited details from Washington on the financial industry rescue plan and economic stimulus package. - Author Michael Davis published a book called "Street Gang: The Complete History of Sesame Street" after years of research, telling the story of the groundbreaking children's television show.

1. ▼ DOW 8,270.87
-9.72 ▼ NASDAQ 1,591.56
-0.15 ▲ S&P 869.89
+1.29 ▲ EURO VS. DOLLAR $1.3024
+0.0078
BUCKS COUNTY COURIER TIMES
WWW.COURIERTIMESONLINE.COM
Editor: Rose Venditti McIver, 215-949-4207,
rmciver@phillyBurbs.com,
blogs.phillyBurbs.com/rose-mciver
TUESDAY
FEBRUARY 10, 2009 A6
General Motors Corp. and
Chrysler received $20.8 billion in
Stocks end mixed with modest changes
federal funds. The deadline to scramble to put together an economic stimulus program. designed to help pull the economy out of the worst
Investors are looking to Washington The market is awaiting a speech today by Treasury recession in decades. The Obama administration is still
prove viability is approaching.
for details of the rescue plan for the Secretary Timothy Geithner outlining President Barack pressing to have the stimulus measure on the presi-
Bailout funds (TARP) received
financial industry and an economic Obama’s plan to overhaul the government’s $700 billion dent’s desk for signing by the middle of this month.
by automakers, as of Feb. 2 financial bailout package. Congress passed the measure Federal Reserve Chairman Ben Bernanke is also
stimulus program. last fall as the credit markets began to seize up on fears expected to testify today at a House Financial Services
General Motors Corp.
0.9 4.0 $5.4 billion By TIM PARADIS about rising levels of bad debt. Geithner had been sched- Committee hearing on the central bank’s efforts to
ASSOCIATED PRESS uled to announce the plan Monday, but the White House revive lending during the financial crisis.
Dec. 29 Dec. 31 Jan. 16
NEW YORK — Investors are waiting for pushed back the speech to focus on the stimulus bill. Investors were hesitant to make big moves with so
2008 2008 2009
Washington to make the next move. The Senate is expected to pass an $827 billion stimu- much news expected from Washington this week.
GMAC Stocks ended a quiet session with only modest lus bill today. The government, however, still faces the “We saw a lot of buying ahead of the announce-
5.0 changes Monday as Wall Street sought details of how the challenge of reconciling the Senate bill with the House’s ments,” said Chris Johnson, president of Johnson
Dec. 29, 2008 government will reshape a rescue plan for the financial $819 billion version that passed earlier. Republicans and
industry. Investors are also watching as political leaders Democrats have been at odds over the plan, which is See STOCKS, Page A7
Chrysler Holding
4.0
Jan. 2, 2009
Chrysler Financial Services
1.5
Jan. 2, 2009
SOURCE: Keefe, Bruyette and Woods AP
MONEY WRAP THE
Retail veteran to oversee
Charming Shoppes cuts
Charming Shoppes Inc. has
appointed former Ann Taylor Inc.
vice president Anthony M. Romano
to oversee its restructuring and cost-
cutting measures.
STORY OF SESAME STREET
As executive vice president of A Bucks County author wrote his first book, which
business transformation, Romano will tells the story of the groundbreaking children’s series.
oversee previously announced plans By JOHN ANASTASI Sesame Street and I thought that
to cut $100 million to $125 million STAFF WRITER was strange.”
from the Bensalem-based retailer’s or the last five years,
F Years later, when looking for a
F
budget over the next two years. Those Lower Makefield’s Michael project, he came back to “Sesame
plans include store closures and lay- Davis immersed himself in Street.” Davis tapped contacts from
offs. He’ll report to Alan Rosskamm, “Sesame Street,” the the 35th anniversary story, reached
Charming Shoppes’ chairman and groundbreaking children’s out to others and eventually inter-
interim CEO. TV show that brought Oscar the viewed over 100 people with con-
In addition to Romano, Charming Grouch, Big Bird and Elmo into nections to the show, including
Shoppes, the parent company of Lane living rooms around the world. Cooney, Oz, Spinney and McGrath.
Bryant, Fashion Bug and Catherines, Today, he’s a published author He also met with Henson’s wife
announced the following appoint- watching his first book and two of their children. (Jim
ments: Bill Bass, as interim president — “Street Gang: The Henson died in 1990.)
of the Charming Direct division; and Complete History of The book was published by
Rachel A. Ungaro and James A. Ferree, Sesame Street” — Viking Press, a member of the
as senior vice presidents of general gather momentum and Penguin Group, and it has been
merchandising for Fashion Bug. validate the countless reviewed in The New York Times
hours of interviews Book Review, the Washington
Neose to remain and research he Post, Time.com and other
spent on the project. publications.
on Nasdaq for now “Street Gang” Sales have been
Neose Technologies Inc. said its tells the story of a steady so far, said
stock will continue to trade on the group of men Davis, who’s been pro-
Nasdaq stock market — for now. The and women who, moting the book through
Horsham-based biopharmaceutical in 1969, created a the Web site www.street-
company said it will be delisted from world where men, gangbook.com. He’s
the exchange if it doesn’t file the women, children also appearing at book-
paperwork to dissolve itself with the and Muppets teach signings and book dis-
secretary of state in Delaware, where kids lessons about cussion groups. He
it’s incorporated, by March 3. Last everything from letters appears at Borders in
month, Neose announced it had com- and numbers to com- Warrington on Feb. 28.
pleted the sale of its assets to two for- passion and self- “It’s an incredible
eign drug companies, the first step in respect. charge of emotion to
a plan to liquidate. “The idea grew see your book on dis-
out of a small band of Big Bird and
Carroll Spinney, play,” Davis said. “It’s
GM Vice Chairman Lutz people who were com-
mitted to the civil rights
the voice of Big Bird a real pinch-me moment to
see something that started
to retire at end of 2009 movement and to making a differ- between my ears become something
Bob Lutz, a giant personality in ence for underprivileged youth,” tangible that’s right there.”
the auto industry, is set to retire from Davis said. “They wanted to help Some members of the “Sesame
his post at General Motors Corp. at close the gap in school readiness Street” team said they were happy
the end of the year, the company said between the underprivileged and with how Davis’ book turned out.
Monday. the middle class.” “There have been a zillion arti-
The 76-year-old GM product The key people behind the PBS cles … and there was a picture
development chief and vice chairman show included producer Joan Ganz book, but nothing as complete as
is credited with revamping the Cooney, who guided the show’s what Michael has done,” McGrath
automaker’s product line and shep- development, puppeteer Jim said Monday. “I love the book. I
herding its efforts to roll out the Henson, who created the original think he spoke to everyone I could
Chevrolet Volt electric car. “Sesame Street” lineup of Muppets, think of having been involved.”
Lutz will be replaced by Thomas Carroll Spinney and Frank Oz who, McGrath has played “Bob” on
Stephens, who now is executive vice along with Henson, voiced many of the show since 1969.
president of global powertrain and the characters, and a collection of “This is the story of my family
quality. human actors like Bob McGrath, and every shirttail relative I’ve
whose stories intertwined with the had,” McGrath said. “It was very
Muppets’. well-done and very well-received.”
Airlines’ on-time arrival A native of Newport R.I., Davis, Spinney, another founding play-
rate sags in December now 56, received his master’s
degree in journalism from
er, who voices Big Bird and Oscar
U.S. airlines’ on-time performance the Grouch, agreed.
Northwestern University. He spent “I learned a lot about Sesame
declined dramatically in December decades working as a sports and
compared to the previous month, but Street that I didn’t know,” he said.
entertainment journalist and editor Davis, who has left TV Guide,
improved slightly over a year earlier, at papers including the Baltimore
the Transportation Department said said he plans to write another book.
Sun and Chicago Sun Times. “This is what I’m going to do
Monday. The carriers blamed heavy In the late 1990s, Davis started
snowstorms around the Christmas until I keel over,” he said. “Once
Author and journalist Michael Davis sits in his Lower Makefield home with his first working at TV Guide in Radnor you get past the fear of that voice
holiday and aviation system issues for book, “Street Gang: The Complete History of Sesame Street.” where, in 1999, he was tasked to
contributing to some delays. that says ‘You can’t do it’ … in reali-
STEVE GENGLER / STAFF PHOTOGRAPHER write a piece on the 35th anniver- ty it’s a function of dedication, focus
The DOT also said that the air- sary of “Sesame Street.”
lines had a significantly higher and drive. And you have to find
domestic flight cancellation rate and Contact us “That introduced me to a num- something you’re passionate about.”
Do you know anyone who’s making a living as an entrepreneur of an interesting ber of cast members, writers and John Anastasi can be reached at 215-
a higher mishandled baggage rate in business or as an employee in an occupation he or she always had dreamed about? If producers,” he said. “I realized that 949-4170 or at
the final month of 2008 compared to so, e-mail janastasi@phillyBurbs.com or call 215-949-4170. no one had ever done ‘the’ book on janastasi@phillyBurbs.com.
November. Even complaints about
airline service were up in December
compared to November.
GO FIGURE
-77 percent
Rohm and Haas profit drops 82 percent in 4th quarter
Home appliance maker Whirlpool $2 billion in the quarter. “We took proactive steps throughout 2008
Corp. said Monday that its fourth-
The company posted $32 million
in profit in the fourth quarter of The reduction reflects the tough economic to remain competitive despite the challenges
quarter profit tumbled 77 percent, climate, the impact of costs related to restruc- of a slowing economy and our performance
squeezed as 2008 versus $180 million for the turing and hurricanes that impacted produc- reflects those efforts,” said Rohm and Haas
well by a same period in 2007.
restructuring tion facilities, according to a company state- CEO Raj Gupta. “As market conditions con-
charge, recall BY JOHN ANASTASI
ment. It also reflects expenses related to tinue to weaken, we are implementing addi-
expenses and STAFF WRITER Rohm and Haas’ merger with Dow Chemical, tional actions to navigate these difficult times
the stronger dollar. Rohm and Haas posted a $32 million profit which Dow has refused to close. while remaining focused on positioning our
The company said earnings for the in the fourth quarter of 2008, a sharp 82 per- The Philadelphia-based specialty chemical business for success when markets recover.”
three months ended Dec. 31 slid to cent decrease from the $180 million profit company’s performance for the full year was The company announced last month it
$44 million, or 60 cents per share, reported in 2007’s fourth quarter. better. Rohm and Haas’ sales increased 8 per- would cut 900 jobs and close some “underuti-
compared with $187 million, or $2.38 The fourth quarter profit equates to 17 cent to almost $9.6 billion and it posted a lized” plants to save about $90 million. The
per share, a year ago. cents per share verses 91 cents per share in $480 million profit, which was still 27 percent
2007. Sales fell 13 percent from 2007’s level to lower than its 2007 total. See ROHM AND HAAS, Page A7