Financial news on January 10, 2009

Business and Financial news
In Detroit, a Less Showy Auto Show

The economy is forcing automakers, and not just the Big Three, to cut back on audacious displays at the Detroit auto show. Read more..

By NICK BUNKLEY - The New York Times

Korean Carmaker Seeks Receivership

Ssangyong Motor Company, the smallest of the five South Korean auto makers, filed for receivership in a bid to stave off collapse. Read more..

By CHOE SANG-HUN and BETTINA WASSENER - The New York Times

Lacking Airlines, Small Cities’ Economies Suffer

Small cities in 25 states — almost 100 communities in all — have lost commercial air service in the last two years for a variety of reasons. Read more..

By HILLARY CHURA - The New York Times

Making Frugality a Habit

The task of saving for a rainy day seems daunting, but finding specific areas to cut back can help. Read more..

By M. P. DUNLEAVEY - The New York Times

New Description of Timing on Madoff’s Confession

Bernard L. Madoff remained free on bail as questions arose about when he told his brother Peter B. Madoff, the firm’s chief compliance officer, of his Ponzi scheme. Read more..

By DIANA B. HENRIQUES - The New York Times

Regulator of Bonds Wants More Authority

The overseer of the $2.6 trillion municipal bond market says it is too lightly regulated. Read more..

By MARY WILLIAMS WALSH - The New York Times

Rubin Leaving Citigroup; Smith Barney for Sale

The announcement that former Treasury Secretary Robert E. Rubin will step down came as Citigroup was in talks to sell an interest in its brokerage unit to Morgan Stanley. Read more..

By ERIC DASH and LOUISE STORY - The New York Times

U.S. Drops Fraud Charges Against David Stockman

Citing a “renewed assessment of the evidence,” a United States attorney ended a case against the former executive of Collins & Aikman. Read more..

By GERALDINE FABRIKANT - The New York Times

What to Do if UBS Is Outing Your Secret Account

A few things to consider if you are part of the group of Americans with undeclared accounts in Switzerland. Read more..

By PAUL SULLIVAN - The New York Times

With an Instructor’s Hand, a Miracle on Ice

A trip to a rink for figure skating lessons in pursuit of exercise ends with a graceful note. Read more..

By HARRY HURT III - The New York Times

See what else happened on January 10, 2009