The Auburn Hill, Mich.-based company, which is now majority owned by Italy's Fiat SpA, said it earned $183 million last year after a loss of $652 million in 2010. Better sales, especially those of the Jeep Grand Cherokee SUV, turned things around.
The social networking giant filed documents Wednesday to go forward with an initial public offering that could be the biggest in history. Investors are expected to spend about $10 billion buying up those initial shares, giving Facebook a total valuation that should be about $100 billion.
Congress is looking more likely to pass a law restricting members' investments in firms about which they have inside information, thanks to a television report last year and President Obama's call during his State of the Union speech.
Dozens of abortion restrictions passed in the states during 2011 — nearly a record since the Supreme Court's 1973 Roe v. Wade decision. This year, anti-abortion groups say they'll focus on bills that would ban abortions at 20 weeks, limit insurance coverage and grant constitutional rights to embryos.
Defense Secretary Leon Panetta has confirmed publicly for the first time that a doctor imprisoned in Pakistan was working with the CIA in the months leading up to the raid on Osama Bin Laden's compound in Abbottabad in May. The doctor may be charged with treason for helping to collect DNA samples from those living in the compound, under the guise of a vaccination program. Audie Cornish speaks with journalist Saeed Shah in Islamabad for more on the doctor's status, and how the confirmation of his work with the CIA is being received in Pakistan.
President Obama released a housing proposal Wednesday that aims to help more homeowners refinance their mortgages. The plan is the latest effort by the administration to help homeowners. It would allow those who are current on their mortgages to refinance at lower rates, even if they owe more than their home is worth. The administration says the effort could save millions of homeowners an average of $3,000. But past housing efforts have not lived up to billing, and this one faces its first obstacle on Capitol Hill.
There wasn't a Democratic primary contest running in parallel with the Republican race in Florida this year. The scorched-earth battle that ensued between Mitt Romney and Newt Gingrich may have an effect when the general election comes to Florida later this year. Did anyone benefit from the hard-fought primary contest — other than Florida's TV stations, which aired millions of dollars in ads?
The state is part of New England, but many of its football fans pick the N.Y. Giants over the Pats. "Way back when, they were the only game in town," one fan says of the days before the Patriots came to the area in 1960. But feelings run deep on both sides — and nothing reveals that like a Super Bowl.
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