Financial news on June 13, 2009

Business and Financial news
After Long Wait, Stations Switch Off Analog

Despite warnings, some consumers were not ready for the full transition from analog TV to digital broadcasts. Read more..

By BRIAN STELTER - The New York Times

Back on Hill, Automakers Defend Dealer Closings

Executives from G.M. and Chrysler defended their decisions to shut down 2,000 dealerships, telling skeptical lawmakers that the cull was needed for the carmakers’ survival. Read more..

By JACK HEALY - The New York Times

Cravath, a Top Law Firm, to Pay New Hires to Delay Start

Cravath, Swaine & Moore offers incoming lawyers $80,000 to defer starting dates and restricts starts of summer associates hired for full-time positions. Read more..

By BLOOMBERG NEWS - The New York Times

Disease of Rich Extends Its Pain to Middle Class

The rising tide of gout is leading the pharmaceutical industry to rediscover what seemed a disease of the past. Read more..

By ANDREW POLLACK - The New York Times

F.D.I.C. Is Watching as a Bank Sets Rates

Government regulators essentially told Ally, an online arm of GMAC, it is paying too much in interest, though depositors can get still higher rates elsewhere. Read more..

By RON LIEBER - The New York Times

Geithner’s Plan on Pay Falls Short

Stronger regulation of executive compensation at all banks is vital to restrain the risk-taking that has cost taxpayers billions of dollars. Read more..

By JOE NOCERA - The New York Times

Industry Slumps, but Prius Inspires Waiting List

The third generation of the gas-electric car was an instant hit in Japan, where plants are working 24 hours a day. Read more..

By HIROKO TABUCHI - The New York Times

Seeking Growth Market, Chip Maker Eyes Solar Cells

If Taiwan Semiconductor, one of the world’s most formidable manufacturers, moves into solar cells and LED lights, prices could fall sharply. Read more..

By ASHLEE VANCE - The New York Times

U.S.-Private Bid to Trap Carbon Emissions Is Revived

A coal plant is to be built that will store nearly all of its emissions underground to avoid contributing to global warming. Read more..

By KATE GALBRAITH - The New York Times

Working to Improve on Allopurinol, the Standard for Gout

Decades ago, the drug allopurinol was a godsend for gout sufferers. Now, the race is on to find an updated medicine with fewer side effects. Read more..

By ANDREW POLLACK - The New York Times

See what else happened on June 13, 2009