When Chrysler was near death and awaiting a government bailout in 1979, then-CEO Lee Iacocca ordered drastic spending cuts and required all checks above $1,000 to be approved by a senior vice president.

With consumers looking for comfort foods and ways to save money, foodmakers H.J. Heinz Co. and J.M. Smucker Co. posted higher earnings Friday and said they're benefiting from price increases and the trend of more people eating at home.

President-elect Barack Obama is likely to name Tim Geithner, president of the New York Federal reserve, as Treasury Secretary in a time of intense economic turmoil as he rounds out the upper echelon of his Cabinet, an official close to the incoming chief executive said Friday.

Citigroup's options are dwindling along with its stock price as the credit landscape deteriorates and fears escalate about future loan losses at the company.

The White House says President Bush signed into law a bill that Congress approved to keep unemployment checks flowing to jobless Americans through the holiday season.