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	<title>Connecticut</title>
	<link>http://connecticutlog.com</link>
	<description>Connecticut blog</description>
	<pubDate>Wed, 19 Nov 2008 15:42:26 +0000</pubDate>
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		<title>Heather Locklear Charged With DUI</title>
		<link>http://connecticutlog.com/news/heather-locklear-charged-with-dui/</link>
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		<pubDate>Wed, 19 Nov 2008 15:42:26 +0000</pubDate>
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		<description><![CDATA[SANTA BARBARA, Calif. -- Prosecutors in Santa Barbara have charged Heather Locklear with misdemeanor driving under the influence, citing prescription drugs.<p></p> The California Highway Patrol said Locklear showed "obvious impairment" when an officer noticed her car parked on a highway and blocking a lane in Montecito in September, but that alcohol was ruled out.<p></p>The actress was tested for drugs at a police station and released.<p></p>Locklear, whose television credits include "Dynasty" and "Melrose Place," divorced from Bon Jovi guitarist Richie Sambora last year and sought treatment for anxiety and depression in June. <img src="http://connecticutlog.com/wp-content/uploads/2008/11/295956.gif" /> <p></p> She is scheduled for arraignment on Jan. 26.<p></p>Her attorney, Blair Berk, had no comment when reached via e-mail Monday. <br />]]></description>
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SANTA BARBARA, Calif. &#8212; Prosecutors in Santa Barbara have charged Heather Locklear with misdemeanor driving under the influence, citing prescription drugs. The California Highway Patrol said Locklear showed &#8220;obvious impairment&#8221; when an officer noticed her car parked on a highway and blocking a lane in Montecito in September, but that alcohol was ruled out.The actress was tested for drugs at a police station and released.Locklear, whose television credits include &#8220;Dynasty&#8221; and &#8220;Melrose Place,&#8221; divorced from Bon Jovi guitarist Richie Sambora last year and sought treatment for anxiety and depression in June.   She is scheduled for arraignment on Jan. 26.Her attorney, Blair Berk, had no comment when reached via e-mail Monday. <a href="http://connecticutlog.com/news/heather-locklear-charged-with-dui/" title="Heather Locklear Charged With DUI" rel="bookmark" class="more-link">(Read the full post about &#8216;Heather Locklear Charged With DUI&#8217;&#8230;)</a></p>
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		<title>McCready Opens Up About Clemens</title>
		<link>http://connecticutlog.com/news/mccready-opens-up-about-clemens/</link>
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		<pubDate>Wed, 19 Nov 2008 15:26:53 +0000</pubDate>
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		<description><![CDATA[NEW YORK -- Country singer Mindy McCready said she broke off her relationship with ex-Houston Astro Roger Clemens when the former baseball star wouldn't marry her.<p></p>Details are in her interview with "Inside Edition."<p></p>But McCready is quoted by the New York Daily News as saying she didn't want to marry Clemens.<p></p>McCready told "Inside Edition" she met Clemens when she was 16, not 15. <img src="http://connecticutlog.com/wp-content/uploads/2008/11/295955.gif" /> <p></p>She told the news magazine they met in a karaoke bar, that her relationship with the pitcher didn't turn sexual until several years later and the relationship lasted for a decade.<p></p>McCready also told "Inside Edition" that she regrets any hurt inflicted on the pitcher's wife, Debbie.<p></p>"I have nothing but remorse and nothing but sympathy for what she's had to go through with this situation, and she has my utmost apology," said McCready<p></p>Clemens in May said he's made mistakes in his personal life for which he's sorry.<p></p>McCready last month was released from jail in Tennessee after serving about 30 days for violating probation on a 2004 drug charge.<br />]]></description>
			<content:encoded><![CDATA[<p><img alt="McCready Opens Up About Clemens" src="/wp-content/thumbs/mccready-opens-up-about-clemens.gif" style="padding: 7px; float: left;" /><br />
NEW YORK &#8212; Country singer Mindy McCready said she broke off her relationship with ex-Houston Astro Roger Clemens when the former baseball star wouldn&#8217;t marry her.Details are in her interview with &#8220;Inside Edition.&#8221;But McCready is quoted by the New York Daily News as saying she didn&#8217;t want to marry Clemens.McCready told &#8220;Inside Edition&#8221; she met Clemens when she was 16, not 15. <a href="http://connecticutlog.com/news/mccready-opens-up-about-clemens/" title="McCready Opens Up About Clemens" rel="bookmark" class="more-link">(Read the full post about &#8216;McCready Opens Up About Clemens&#8217;&#8230;)</a></p>
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		<title>Consumer Price Drop Largest In 61 Years</title>
		<link>http://connecticutlog.com/news/consumer-price-drop-largest-in-61-years/</link>
		<comments>http://connecticutlog.com/news/consumer-price-drop-largest-in-61-years/#comments</comments>
		<pubDate>Wed, 19 Nov 2008 15:15:35 +0000</pubDate>
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		<description><![CDATA[WASHINGTON -- Consumer prices plunged by the largest amount in the past 61 years in October as gasoline pump prices dropped by a record amount.<p></p> The Labor Department said Wednesday that consumer prices fell by 1 percent last month, the biggest one-month decline on records that go back to February 1947. The drop was twice as large as the 0.5 percent decline analysts expected.<p></p> The big drop reflected not only a huge fall in gasoline and other energy costs, but widespread declines in other areas. Core consumer prices, which exclude food and energy, fell by 0.1 percent last month, the first drop in core prices in more than a quarter-century.<p></p> The big retreat in consumer prices reflects a remarkable turnaround from just a few months ago when a relentless surge in energy prices raised concerns that inflation could get out of control. <img src="http://connecticutlog.com/wp-content/uploads/2008/11/295954.gif" /> <p></p> Since that time, the economy has been jolted by the most serious financial crisis in seven decades with all the turbulence expected to push the country into a severe and prolonged recession.<p></p> The U.S. troubles have quickly spread overseas, depressing growth around the world and cutting into demand for oil and other products, a development that has resulted in sharp declines in the price of crude oil and other commodities.<p></p> While some are worried that the price retreat could raise the prospect of a deflation, a prolonged bout of falling prices, most economists believe that current conditions are not likely to set the stage for such a development, which last occurred in the U.S. during the Great Depression.<p></p> Over the past 12 months, consumer prices have risen by 3.7 percent, substantially below the 17-year high of a 12-month price increase of 5.6 percent set this summer. Core prices are up 2.2 percent over the past 12 months.<p></p> This price moderation is giving the Federal Reserve the room it needs to cut interest rates to battle the economic slump.<p></p>The central bank is expected to cut the federal funds rate, the interest that banks charge each other, down to 0.5 percent at its December meeting, even lower than the 1 percent where the funds rate stands currently.<p></p>The 1 percent funds rate ties the record low for the past half century. <br />]]></description>
			<content:encoded><![CDATA[<p><img alt="Consumer Price Drop Largest In 61 Years" src="/wp-content/thumbs/consumer-price-drop-largest-in-61-years.gif" style="padding: 7px; float: left;" /><br />
WASHINGTON &#8212; Consumer prices plunged by the largest amount in the past 61 years in October as gasoline pump prices dropped by a record amount. The Labor Department said Wednesday that consumer prices fell by 1 percent last month, the biggest one-month decline on records that go back to February 1947. The drop was twice as large as the 0.5 percent decline analysts expected. The big drop reflected not only a huge fall in gasoline and other energy costs, but widespread declines in other areas. Core consumer prices, which exclude food and energy, fell by 0.1 percent last month, the first drop in core prices in more than a quarter-century. <a href="http://connecticutlog.com/news/consumer-price-drop-largest-in-61-years/" title="Consumer Price Drop Largest In 61 Years" rel="bookmark" class="more-link">(Read the full post about &#8216;Consumer Price Drop Largest In 61 Years&#8217;&#8230;)</a></p>
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		<title>Al-Qaida No. 2 Calls Obama Racial Slur</title>
		<link>http://connecticutlog.com/news/al-qaida-no-2-calls-obama-racial-slur/</link>
		<comments>http://connecticutlog.com/news/al-qaida-no-2-calls-obama-racial-slur/#comments</comments>
		<pubDate>Wed, 19 Nov 2008 15:07:21 +0000</pubDate>
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		<description><![CDATA[CAIRO, Egypt -- Al-Qaida's No. 2 leader used a racial epithet to insult Barack Obama in a message posted Wednesday, using a demeaning racial term implying that the president-elect is a black American who does the bidding of whites.<p></p> The message appeared chiefly aimed at persuading Muslims and Arabs that Obama does not represent a change in U.S. policies.<p></p>Ayman al-Zawahri said in the message, which appeared on militant Web sites, that Obama is "the direct opposite of honorable black Americans" like Malcolm X, the 1960s African-American rights leader.<p></p> In al-Qaida's first response to Obama's victory, al-Zawahri also called the president-elect -- along with secretaries of state Colin Powell and Condoleezza Rice -- "house negroes." <img src="http://connecticutlog.com/wp-content/uploads/2008/11/295953.gif" /> <p></p> Speaking in Arabic, al-Zawahri uses the term "abeed al-beit," which literally translates as "house slaves." But al-Qaida supplied English subtitles of his speech that included the translation as "house negroes."<p></p> The message also includes old footage of speeches by Malcolm X in which he explains the term, saying black slaves who worked in their white masters' house were more servile than those who worked in the fields. Malcolm X used the term to criticize black leaders he accused of not standing up to whites.<p></p> The 11-minute, 23-second video features the audio message by al-Zawahri, who appears only in a still image, along with other images, including one of Obama wearing a Jewish skullcap as he meets with Jewish leaders.<p></p>In his speech, al-Zawahri refers to a Nov. 5 U.S. airstrike attack in Afghanistan, meaning the video was made after that date.<p></p> Al-Zawahri said Obama's election has not changed American policies he said are aimed at oppressing Muslims and others.<p></p> "America has put on a new face, but its heart full of hate, mind drowning in greed, and spirit which spreads evil, murder, repression and despotism continue to be the same as always," the deputy of al-Qaida chief Osama bin Laden said.<p></p> He said Obama's plan to shift troops to Afghanistan is doomed to failure, because Afghans will resist.<p></p> "Be aware that the dogs of Afghanistan have found the flesh of your soldiers to be delicious, so send thousands after thousands to them," he said.<p></p> Al-Zawahri did not threaten specific attacks, but warned Obama that he was "facing a Jihadi (holy war) awakening and renaissance which is shaking the pillars of the entire Islamic world; and this is the fact which you and your government and country refuse to recognize and pretend not to see."<p></p> He said Obama's victory showed Americans acknowledged that President George W. Bush's policies were a failure and that the result was an "admission of defeat in Iraq."<p></p> But Obama's professions of support for Israel during the election campaign "confirmed to the Ummah (Islamic world) that you have chosen a stance of hostility to Islam and Muslims," al-Zawahri said. <br />]]></description>
			<content:encoded><![CDATA[<p><img alt="Al-Qaida No. 2 Calls Obama Racial Slur" src="/wp-content/thumbs/al-qaida-no-2-calls-obama-racial-slur.gif" style="padding: 7px; float: left;" /><br />
CAIRO, Egypt &#8212; Al-Qaida&#8217;s No. 2 leader used a racial epithet to insult Barack Obama in a message posted Wednesday, using a demeaning racial term implying that the president-elect is a black American who does the bidding of whites. The message appeared chiefly aimed at persuading Muslims and Arabs that Obama does not represent a change in U.S. policies.Ayman al-Zawahri said in the message, which appeared on militant Web sites, that Obama is &#8220;the direct opposite of honorable black Americans&#8221; like Malcolm X, the 1960s African-American rights leader. <a href="http://connecticutlog.com/news/al-qaida-no-2-calls-obama-racial-slur/" title="Al-Qaida No. 2 Calls Obama Racial Slur" rel="bookmark" class="more-link">(Read the full post about &#8216;Al-Qaida No. 2 Calls Obama Racial Slur&#8217;&#8230;)</a></p>
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		<title>Congressional Backers Urge Help For Big 3</title>
		<link>http://connecticutlog.com/news/congressional-backers-urge-help-for-big-3/</link>
		<comments>http://connecticutlog.com/news/congressional-backers-urge-help-for-big-3/#comments</comments>
		<pubDate>Wed, 19 Nov 2008 14:51:59 +0000</pubDate>
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		<description><![CDATA[WASHINGTON -- Congressional backers of $25 billion in emergency loans to the U.S. auto industry are urging colleagues not to punish Detroit's Big Three for past mistakes.<p></p>  <strong>2009 Autos &#124; Survey</strong>  <p></p> House Financial Services Committee Chairman Barney Frank also said there seems to be a congressional bias in agreeing to help white-collar bankers but not blue-collar auto workers.<p></p> But Alabama Republican Spencer Bacchus said the bailout would only "push the problem further down the path." <img src="http://connecticutlog.com/wp-content/uploads/2008/11/295952.gif" /> <p></p>The top Senate Banking Committee Republican said nothing will turn around the troubled U.S. auto industry until its top management is ousted and the manufacturing model overhauled.<p></p> Sen. Richard Shelby of Alabama said Wednesday that he didn't think providing $25 billion in emergency loans to Detroit would do the jobs, calling that a "life support" option.<p></p> Shelby said on CBS's "The Early Show" that he believes filing for bankruptcy might be the better choice.<p></p> Frank said he didn't think filing for bankruptcy would be a good strategy.<p></p>He noted that such a move would likely mean that contracts with organized labor would have to be broken.<p></p> The rescue plan appears stalled on Capitol Hill, even as the CEOs of General Motors, Ford and Chrysler press their case before the House Financial Services panel. On Tuesday, they made their pitch to a Senate committee.<p></p> On the Senate side, the Democratic leader is lowering expectations for the bailout. Sen. Harry Reid said he hopes Congress can agree on a $25 billion bill.<p></p>But if not, he said, it will be up to the Bush administration to save the carmakers from collapse.<p></p> A Senate vote could come as soon as Thursday.<p></p> Auto executives told a Senate panel Tuesday and were expected to tell the House committee Wednesday that if their companies fail, other businesses will also be pulled under, resulting in the loss of millions of jobs.<p></p> The CEOs said the $25 billion in loans they're pushing for is much less than the overall cost if they go bankrupt.<p></p> A proposal to slice the $25 billion from the $700 billion Wall Street rescue package appears to be going nowhere in the Senate.<p></p>But lawmakers from states heavily impacted by the auto industry are working behind the scenes on a compromise that could speed some aid to the automakers before year's end.<p></p> The White House said the auto industry should tap a loan program created to help it make more fuel-efficient vehicles.<p></p><p>  <b>Previous Stories:</b> <ul> <li>November 18, 2008: Big 3 Execs Begging For Federal Cash</li> <li>November 17, 2008: Administration Wants Big 3 'To Succeed'</li> <li>November 16, 2008: Auto Bailout May Have To Wait</li> <li>November 15, 2008: Auto Bailout Backers Offer To Cut $25B Size</li> <li>November 14, 2008: Bush Wants $25B In Loans Released To Carmakers</li> </ul>  </p> <br />]]></description>
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WASHINGTON &#8212; Congressional backers of $25 billion in emergency loans to the U.S. auto industry are urging colleagues not to punish Detroit&#8217;s Big Three for past mistakes.  2009 Autos | Survey   House Financial Services Committee Chairman Barney Frank also said there seems to be a congressional bias in agreeing to help white-collar bankers but not blue-collar auto workers. But Alabama Republican Spencer Bacchus said the bailout would only &#8220;push the problem further down the path.&#8221;  The top Senate Banking Committee Republican said nothing will turn around the troubled U.S. auto industry until its top management is ousted and the manufacturing model overhauled. Sen. <a href="http://connecticutlog.com/news/congressional-backers-urge-help-for-big-3/" title="Congressional Backers Urge Help For Big 3" rel="bookmark" class="more-link">(Read the full post about &#8216;Congressional Backers Urge Help For Big 3&#8242;&#8230;)</a></p>
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		<title>Kanye West Arrested In London, Released</title>
		<link>http://connecticutlog.com/news/kanye-west-arrested-in-london-released/</link>
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		<pubDate>Mon, 17 Nov 2008 16:16:43 +0000</pubDate>
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		<description><![CDATA[LONDON -- Rapper Kanye West was arrested after a disturbance outside a nightclub in England early Friday, but he was released without charges.<p></p>The British Press Association and other outlets reported that West was detained after tangling with a photographer outside a bar in Newcastle.<p></p>Police said only that a 31-year-old man had been arrested on suspicion of assault after an incident at a nightclub and was released.<p></p>British police usually do not identify suspects who have not been charged.  <p></p>A spokeswoman for West did not return calls requesting comment. <br />]]></description>
			<content:encoded><![CDATA[<p>LONDON &#8212; Rapper Kanye West was arrested after a disturbance outside a nightclub in England early Friday, but he was released without charges.
</p>
<p>The British Press Association and other outlets reported that West was detained after tangling with a photographer outside a bar in Newcastle.
</p>
<p>Police said only that a 31-year-old man had been arrested on suspicion of assault after an incident at a nightclub and was released.
</p>
<p>British police usually do not identify suspects who have not been charged. <noscript></noscript>
</p>
<p>A spokeswoman for West did not return calls requesting comment. </p>
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		<title>Wanda Sykes Says She&#8217;s &#8216;Proud To Be Gay&#8217;</title>
		<link>http://connecticutlog.com/news/wanda-sykes-says-shes-proud-to-be-gay/</link>
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		<pubDate>Mon, 17 Nov 2008 16:06:09 +0000</pubDate>
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		<description><![CDATA[LAS VEGAS -- Comedian Wanda Sykes said the passage of a same-sex marriage ban in California has led to her be more outspoken about being gay.<p></p> Before, Sykes said she never felt she had to make a big deal about her sexuality. She said her friends and family knew she was a lesbian, but otherwise she was just living her life, "not necessarily in the closet."<p></p> But now she said it's time to get in people's faces.<p></p> Sykes, who is known for her blunt style, said the passage of California's Proposition 8 made her feel like she was "attacked." <img src="http://connecticutlog.com/wp-content/uploads/2008/11/294814.gif" /> <p></p> Those comments came at a surprise appearance Sykes made at a gay rights rally in Las Vegas, where she's performing this weekend.<br />]]></description>
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LAS VEGAS &#8212; Comedian Wanda Sykes said the passage of a same-sex marriage ban in California has led to her be more outspoken about being gay. Before, Sykes said she never felt she had to make a big deal about her sexuality. She said her friends and family knew she was a lesbian, but otherwise she was just living her life, &#8220;not necessarily in the closet.&#8221; But now she said it&#8217;s time to get in people&#8217;s faces. <a href="http://connecticutlog.com/news/wanda-sykes-says-shes-proud-to-be-gay/" title="Wanda Sykes Says She&#8217;s &#8216;Proud To Be Gay&#8217;" rel="bookmark" class="more-link">(Read the full post about &#8216;Wanda Sykes Says She&#8217;s &#8216;Proud To Be Gay&#8217;&#8217;&#8230;)</a></p>
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		<title>Bond Stirs Up $70M At Box Office</title>
		<link>http://connecticutlog.com/news/bond-stirs-up-70m-at-box-office/</link>
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		<pubDate>Mon, 17 Nov 2008 15:56:01 +0000</pubDate>
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		<description><![CDATA[LOS ANGELES -- Revenge is sweet -- but so is $70.4 million.<p></p> That's how much money has gone through the box office this weekend for the new James Bond film, "Quantum of Solace." It's the one in which Bond, played by Daniel Craig, tries to get revenge for the death of his lover in the previous film, "Casino Royale."<p></p> It's the biggest-ever opening weekend for a Bond flick -- easily topping the $47 million for "Die Another Day" in 2002.<p></p> Many Bond fans had been unhappy with the choice of Craig as the new Bond -- but the success of "Casino Royale" silenced a lot of the critics.  <p></p> In the second spot this week is the animated "Madagascar" film that made its debut in first place last week.<p></p> The next two weekends will bring some more likely hits, including the vampire romance "Twilight."<p></p> Here's the top 10 at the weekend box office:<p></p> 1. "Quantum of Solace," $70.4 million.<p></p> 2. "Madagascar: Escape 2 Africa," $36.1 million.<p></p> 3. "Role Models," $11.7 million.<p></p> 4. "High School Musical 3: Senior Year," $5.9 million.<p></p> 5. "Changeling," $4.2 million.<p></p> 6. "Zack and Miri Make a Porno," $3.2 million.<p></p> 7. "Soul Men," $2.43 million.<p></p> 8. "The Secret Life of Bees," $2.4 million.<p></p> 9. "Saw V," $1.8 million.<p></p> 10. "The Haunting of Molly Hartley," $1.6 million.<br />]]></description>
			<content:encoded><![CDATA[<p>LOS ANGELES &#8212; Revenge is sweet &#8212; but so is $70.4 million.
</p>
<p> That&#8217;s how much money has gone through the box office this weekend for the new James Bond film, &#8220;Quantum of Solace.&#8221; It&#8217;s the one in which Bond, played by Daniel Craig, tries to get revenge for the death of his lover in the previous film, &#8220;Casino Royale.&#8221;
</p>
<p> It&#8217;s the biggest-ever opening weekend for a Bond flick &#8212; easily topping the $47 million for &#8220;Die Another Day&#8221; in 2002.
</p>
<p> Many Bond fans had been unhappy with the choice of Craig as the new Bond &#8212; but the success of &#8220;Casino Royale&#8221; silenced a lot of the critics. <a href="http://connecticutlog.com/news/bond-stirs-up-70m-at-box-office/" title="Bond Stirs Up $70M At Box Office" rel="bookmark" class="more-link">(Read the full post about &#8216;Bond Stirs Up $70M At Box Office&#8217;&#8230;)</a></p>
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		<title>Jonas Brother Says He&#8217;s No Cad</title>
		<link>http://connecticutlog.com/news/jonas-brother-says-hes-no-cad/</link>
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		<pubDate>Mon, 17 Nov 2008 15:40:15 +0000</pubDate>
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		<description><![CDATA[NEW YORK -- Joe Jonas said he's no cad.<p></p> The teenage heartthrob has been criticized since country star Taylor Swift said the Jonas Brothers singer dumped her with a phone call.<p></p> But in a posting on the group's MySpace page, the 19-year-old defended himself. He said he never cheated on a girlfriend. As for claims he dumped Swift in a 27-second phone call, he said, "I did not end the conversation. Someone else did."<p></p> The 18-year-old Swift has been talking about the recent breakup as she promotes her new CD, "Fearless." <img src="http://connecticutlog.com/wp-content/uploads/2008/11/294812.gif" /> <p></p> Both Swift and Jonas are multiplatinum stars.<br />]]></description>
			<content:encoded><![CDATA[<p><img alt="Jonas Brother Says He&#8217;s No Cad" src="/wp-content/thumbs/jonas-brother-says-hes-no-cad.gif" style="padding: 7px; float: left;" /><br />
NEW YORK &#8212; Joe Jonas said he&#8217;s no cad. The teenage heartthrob has been criticized since country star Taylor Swift said the Jonas Brothers singer dumped her with a phone call. But in a posting on the group&#8217;s MySpace page, the 19-year-old defended himself. He said he never cheated on a girlfriend. As for claims he dumped Swift in a 27-second phone call, he said, &#8220;I did not end the conversation. Someone else did.&#8221; The 18-year-old Swift has been talking about the recent breakup as she promotes her new CD, &#8220;Fearless.&#8221;   Both Swift and Jonas are multiplatinum stars. <a href="http://connecticutlog.com/news/jonas-brother-says-hes-no-cad/" title="Jonas Brother Says He&#8217;s No Cad" rel="bookmark" class="more-link">(Read the full post about &#8216;Jonas Brother Says He&#8217;s No Cad&#8217;&#8230;)</a></p>
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		<title>Citigroup To Cut 53,000 More Jobs</title>
		<link>http://connecticutlog.com/news/citigroup-to-cut-53000-more-jobs/</link>
		<comments>http://connecticutlog.com/news/citigroup-to-cut-53000-more-jobs/#comments</comments>
		<pubDate>Mon, 17 Nov 2008 15:37:32 +0000</pubDate>
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		<description><![CDATA[NEW YORK -- A person briefed on Citigroup's plans said the banking giant will cut another 53,000 jobs in the coming quarters.<p></p> CEO Vikram Pandit will reveal the plan at the company's town hall meeting Monday with employees.<p></p> The person didn't want to be identified because the plans haven't been made public yet.<p></p> The 53,000 job cuts are in addition to the 22,000 already being eliminated from Citigroup Inc.'s 375,000-member work force as of the end of 2007. <img src="http://connecticutlog.com/wp-content/uploads/2008/11/294811.gif" /> <p></p>The latest cuts bring the total job reductions to 20 percent.<p></p>Citigroup, the nation's second largest bank by assets behind JPMorgan Chase, has been one of the hardest hit financial institutions during the credit crisis.<p></p>Over the past four quarters, the company has lost more than $20 billion, due in large part to its ill-timed bets on the U.S. housing market.<p></p>Citigroup is among nine banks, including JPMorgan Chase, that have received $125 billion in government bailout help.<br />]]></description>
			<content:encoded><![CDATA[<p><img alt="Citigroup To Cut 53,000 More Jobs" src="/wp-content/thumbs/citigroup-to-cut-53000-more-jobs.gif" style="padding: 7px; float: left;" /><br />
NEW YORK &#8212; A person briefed on Citigroup&#8217;s plans said the banking giant will cut another 53,000 jobs in the coming quarters. CEO Vikram Pandit will reveal the plan at the company&#8217;s town hall meeting Monday with employees. The person didn&#8217;t want to be identified because the plans haven&#8217;t been made public yet. The 53,000 job cuts are in addition to the 22,000 already being eliminated from Citigroup Inc.&#8217;s 375,000-member work force as of the end of 2007.  The latest cuts bring the total job reductions to 20 percent.Citigroup, the nation&#8217;s second largest bank by assets behind JPMorgan Chase, has been one of the hardest hit financial institutions during the credit crisis.Over the past four quarters, the company has lost more than $20 billion, due in large part to its ill-timed bets on the U.S. <a href="http://connecticutlog.com/news/citigroup-to-cut-53000-more-jobs/" title="Citigroup To Cut 53,000 More Jobs" rel="bookmark" class="more-link">(Read the full post about &#8216;Citigroup To Cut 53,000 More Jobs&#8217;&#8230;)</a></p>
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