Fiat may rework plan with GM

After meeting with its chief creditors, Fiat SpA finally confirms it may renounce the put option it has with General Motors Corp.

The company says the option remains valid but it would immediately disclose any "concrete" change to it. This is the first time the company has publicly acknowledged it was considering changing the agreement.

GM owns 20 percent of Fiat Auto and is under obligation to buy the remaining 80 percent - if Fiat wants to sell and forces GM to buy-from 2004 until 2009.

Sources say that if Fiat throws out the put, GM will inject much needed money into Fiat Auto. One option has GM paying $2 billion for an additional 10 to 20 percent stake in Fiat …

American Express 2Q results show even rich consumers getting pinched by credit crisis

In a sign that even wealthier consumers are feeling the pinch of the credit crisis, American Express Co. said its second-quarter profit tumbled as it set aside more money to cover souring loans across all its portfolios.

The credit card lender, known for catering to America's elite, said late Monday that its second-quarter earnings fell 38 percent, well below Wall Street's expectations.

The effects of the weakening economy were evident even among its more established members with excellent credit.

"Consumer spending slowed during the latter part of the quarter and credit indicators deteriorated beyond our expectations," American Express …

FBI chief planning to retire from post: ; Louis Freeh worked as an agent for the bureau for 18 years

WASHINGTON - FBI Director Louis Freeh said today that he plans toretire in June. In a statement, Freeh thanked President Bush forhis "unwavering support of me and the FBI." Appointed by PresidentClinton, Freeh has been director of the bureau since 1993.

He listed many accomplishments achieved at the bureau since then,including hiring several thousand new special agents, forging arelationship with the CIA, doubling the FBI's overseas presence anda bigger budget for crime-fighting.

The bureau was embarrassed by the arrest early this year of aveteran FBI agent, Robert Philip Hanssen, on allegations that he hadspied for Moscow since 1985.

Freeh said at the time, …

Gunmen Abduct Dozens at Baghdad Office

BAGHDAD, Iraq - Suspected Shiite militiamen dressed as Interior Ministry commandos stormed a Higher Education Ministry office Tuesday and kidnapped dozens of people after clearing the area under the guise of providing security for what they claimed would be a visit by the U.S. ambassador.

Witnesses and authorities said the gunmen raced through all four stories of the building, forced men and women into separate rooms, handcuffed the men and loaded them aboard about 20 pickup trucks.

Shortly afterward, authorities arrested six senior police officers in connection with the abductions - the police chief and five top subordinates in the Karradah district, the central Baghdad …

Ajax beats AC Milan 2-0 in Champions League

MILAN (AP) — Demy de Zeeuw and Toby Alderweireld scored second-half goals Wednesday to give Ajax a 2-0 win over AC Milan in their last Champions League group match and secure a spot in the second-tier Europa League competition.

Milan had already clinched a spot in the knockout phase, while the Dutch team finished third in Group G with seven points.

Milan finished second with eight, …

Coast Guard to BP: Speed it up, stop the spill

The Coast Guard has demanded that BP step up its efforts to contain the oil gushing into the Gulf of Mexico by the end of the weekend, telling the British oil giant that its slow pace in stopping the spill is becoming increasingly alarming as the disaster fouled the coastline in ugly new ways Saturday.

The Coast Guard sent a testy letter to BP's chief operating officer that said the company urgently needs to pick up the pace and present a better plan to contain the spill by the time President Barack Obama arrives on Monday for his fourth visit to the beleaguered coast. The letter, released Saturday, follows nearly two months of tense relations between BP and the …

The state does track Promise scholarships: W. Va. will know how the program works in practice

I read with dismay the Charleston Daily Mail's Feb. 28 article inthe about the efforts of the Promise Scholarship Program to trackwhat happens to scholars once they graduate.

While I am not directly responsible for the administration of theprogram, I have participated in these efforts and can say withcertainty that Promise graduates are being and will be tracked.

* Will we know how many Promise scholars are working in WestVirginia?

Yes. We have set up a data exchange with the Bureau of EmploymentPrograms to determine whether Promise scholars are working in WestVirginia.

* Will we know how many are pursuing graduate education in WestVirginia?

Yes. …