BC-Business News Digest
Business News at 5:35 p.m.
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A selection of top photos can be found at: http://bit.ly/APTopPhotos .Editors: Please note that HOLIDAY SHOPPING will stand for this week's ON THE MONEY column. New this digest: Updates: WALL STREET TOP STORIES HOLIDAY SHOPPING NEW YORK â¿¿ When it comes to big discounts, better late than never. Shoppers will see the same jaw-dropping "70 percent off" sale signs and deep discounts during the final weekend before Christmas that they saw last year. That's good news for shoppers, but bad news for stores, whose profits will likely suffer in their attempt to salvage a holiday shopping season that so far has been disappointing. By Retail Writer Anne D'Innocenzio. AP photos. Eds: This story stands as this week's ON THE MONEY column. SCHOOL SHOOTING-VIDEO GAMES In the days since the massacre at Sandy Hook Elementary School in Newtown, Conn., a shell-shocked nation has looked for reasons. The list of culprits include easy access to guns, a strained mental-health system and the "culture of violence" â¿¿ the entertainment industry's embrace of violence in movies, TV shows and, especially, video games. By Lou Kesten. AP Photo. Also: â¿¿ OBAMA GUN CONTROL â¿¿ Spurred by a horrific elementary school shooting, President Barack Obama tasked his administration Wednesday with creating concrete proposals to reduce the gun violence that has plagued the country. GENERAL MOTORS-STOCK BUYBACK DETROIT â¿¿ The U.S. government's foray into the car business is slowly coming to an end. The Treasury Department plans to sell its remaining stake in General Motors in the next year or so, winding down a $50 billion bailout that saved the automaker but also set off a heated debate about government intervention in private business. Although taxpayers will lose money on the deal, GM has bounced back, piling up $16 billion in profits over three years. Now it looks forward to losing the stigma of government ownership â¿¿ including the derisive moniker "Government Motors." By Auto Writer Tom Krisher.
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