Various Tid-Bits of News

-Senate blocked oil drilling in Alaska, which means that oil prices will likley rise
-Research in Motion announced that its "Black Berry" led to a 3rd quarter rise in earnings. This occurs although there is a lawsuit and some contreversy surronding the Black Berry
-Home sales went down in the 3rd quarter due to the rising costs of morgages and homes themselves.
-General Motors shares have dropped to the lowest in 23 years.

GM's last chance
"General Motors hasn't collapsed," says Paul Ingrassia in The Wall Street Journal (paid registration required). "But confidence in GM has." The No. 1 automaker's shares have "swooned" to 23-year lows, and the company will have to do more to cut legacy costs and boost sales to turn things around. And instead of "publicly pooh-poohing" the idea of filing for bankruptcy, CEO Rick Waggoner will have to make it clear that "nothing is off the table" if he wants to restore investor confidence.