November 18th, 2008
07:45 AM ET

Morning Buzz: Happy Birthday Mickey

Penny Manis
AC360 Senior Producer

Hey everyone:

President Bush will announce plans to open 2 lanes of military airspace to commercial planes and ease congestion over Thanksgiving holiday weekend. On this very brisk Tuesday morning, all my colleagues and I can think about is flying to a warm place involving a beach and palm trees, so that’s the first story catching our eye! It’s a nice idea, at least.

But just how will the current state of the economy affect travel during the Thanksgiving holiday weekend? AAA releases its annual turkey weekend travel forecast later today, so we’ll keep an eye on that. Are you planning your normal holiday travel routine? Or is home ‘where the heart is’ this year? (translation: it doesn’t cost you anything to get from your kitchen to your living room).

Congress doesn’t have to worry about the chill factor today, because it’s going to be HOT on Capital Hill when Auto Company CEO’s from GM, Ford and Chrysler show up to press their case for Mucho Dinero to save their businesses. We’ll hear the now-familiar arguments – Need Bailout Money. Need to Survive (insert Gloria Gaynor in background). The collapse of the Big 3 will have a devastating impact on the economy etc. Please give us a piece of the bailout pie.

With some pressing the case to bailout the Big 3 and alluding to catastrophe if this is not the case, we are asking Tom Foreman to paint a picture of how the next few months could evolve in the scenario that the automakers DO NOT get the cash injection they seek, he'll have this story tonight.

Treasury Sec Paulson, Fed Chairman Ben Bernanke and others update the Financial Services Committee on The Bailout: where has this money gone, which govt agencies are involved in bailout, and who is overseeing it? Critics of this plan say oversight of the bailout program is lax, some lawmakers have “buyers remorse’ for approving the $700 billion and even introduced legislation to stop the remaining $350 billion from being paid out. Ali Velshi will update us tonight.

As for President-Elect Obama, we know he’ll hit the gym as he does every morning, this is one standard appearance he makes, but more closed-door meetings are expected as he crafts his new Administration. Will we get any confirmation of HRC as SOS? That is, if Bill Clinton passes the ‘vetting test’.

Yesterday we reported that some of his post-presidential activities are coming under scrutiny, for example his charitable foundation which receives money from ‘foreign interests’. Careful analysis of which foreign entities we are talking about would be required from the Obama transition team to avoid potentially embarrassing future situations, in the event HRC is offered the post and accepts.

Oh, and for you trivial pursuit aficionados, Mickey Mouse turns 80 years old today. What a life he has had: successful relationship with Minnie, a steady job, and a great gig involving entertaining folks from around the world in sunny vacation destinations. Lucky him. See you tonight at 10pet!

Filed under: The Buzz
soundoff (7 Responses)
  1. Jackie in Dallas

    I'll be lucky to still have a home at Christmas. The financial industry certainly hasn't done much in my area to stem the flood of foreclosures, even though I'm still paying on my mortgage! Eight years of job uncertainies, unemployment, medical bills, and financial uncertainties have killed my savings, made me late on some payments. At least I now have a job, friends, things to be thankful for.

    Anyone else noticed that the gas prices dropped dramatically as the polls said Obama was getting further ahead? Big oil trying to cover their rears after 8 years of price gouging. They know that they are going to be in big do-do for their shenanigans under a different Administration, especially one elected without material help from them. Anyone want to say windfall profit tax???

    November 18, 2008 at 11:54 am |
  2. Heather,ca

    All I have to say is thank you for the lovely Gloria reference. Just what I needed this morning.

    November 18, 2008 at 11:13 am |
  3. Presley

    Well Happy Birthday Mickey Mouse!
    I am staying home for the Holidays, makin' Turkey and eating everything in sight, then take advantage of a desperate Retail market.
    Gobble Gobble.
    The saga of "As The Bail Out Turns" continues....I just know I am going to wake up one day soon and someone will be pregnant and have amnesia.

    Cheers and Good Morning Penny.

    November 18, 2008 at 11:05 am |
  4. Michelle D. Fonthill,Ontario

    Hi Everyone at 360
    The holidays are going to be belak this year with not only the Thanksgiving holiday around the corner for all of you but Christmas is geeting into high gear as well how are poeple going to afford to get home for thanksgiving the rising cost of air travel ,maybe eryone will stay close to home this year and it's just not going to be easy to get through. The auto indusrty needs help and the manufacturing industry here is failing now with the John Deere plant ready to close at the end of thier fiscal year this is crushing our economy and community. Whose going to bail us us out?

    November 18, 2008 at 10:19 am |
  5. Annie Kate

    Gas prices down here are actually under 2 dollars a gallon. It will be interesting to see if it gets much lower before that inevitable increase again. So its not gas that is keeping us home but we are staying home for Thanksgiving and having a nice home baked turkey with the trimmings. We have some family coming in but not too many and not for too long. I'm looking forward to the 4 day weekend....I'll send my daughters out to find the bargains for Xmas on the day after and I'll curl up with a book. Right now that sounds like heaven.

    Annie Kate
    Birmingham AL

    November 18, 2008 at 9:54 am |
  6. Cindy

    Unfortunately I think that we have to step in and help out the 3 big automakers. If not and they fail then millions will be out of work and our economy will tank. But I think there needs to be some type of commission set up to overlook them and how they use the money. That way they can't keep on doing what they are now and waste the money like it looks like AIG did.

    I don't see what the big deal is on who Bill gets donations from for his charity. That really has nothing to do with the U.S. and what we are trying to do. They could always look at the donations and if they see a conflict of interest when Hillary has the Sec of State job then they could deny the donation and give it back. I mean that's not a hard thing to figure out and do. You all are just making this way harder than it has to be. Sometimes the simplest solutions work best. I hope Obama sees that.


    November 18, 2008 at 9:26 am |
  7. Joanne, Syracuse, NY

    So Paulson will be held accountable for funds....let's see how much truth and good judgement is exercized...and speaking of that the big bonus guys from the big 3 automakers are coming to beg for our tax money. Amazing...this is what we have come to face......

    November 18, 2008 at 9:13 am |