Your Monday Morning News Update with Maria Neider

by KY3 News

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By Gene Hartley

Circuit City Stores filed for bankruptcy about a week after it said it would close 20 percent of its stores. The Richmond, Virginia-based electronics retailer has been struggling as nervous consumers spend less and credit has become tighter. It filed for bankruptcy protection on Monday.

Chapter 11 protection typically allows a company to hold off creditors and operate as normal while it develops a financial reorganization plan. Circuit City says it has more than $1 billion in assets and more than $1 billion in liabilities.

The store in Springfield will remain open but stores in Kansas City, Independence, Ferguson, and Fayetteville, Ark., are among those to be closed.
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Mail and logistics company Deutsche Post says it will cut 9,500 jobs and close all of its DHL express service centers in the United States amid heavy losses in the market there. In a statement released Monday from its headquarters in Bonn, the company said new round of cuts are on top of another 4,500 job cuts it already announced and blamed heavy losses at the unit, which competes with rivals UPS and FedEx.

The cuts are part of a wider plan to curtail operations in the United States, including ground deliveries, and are likely to affect drivers, shipping clerks and warehouse workers. The express unit employs some 18,000 workers..

DHL lists an office on its Web site in Bentonville, Ark. There are also four drop boxes and 1 authorized shipping center in Springfield.
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WASHINGTON, D.C. (AP) -- The government is providing new financial assistance to troubled insurance giant American International Group, including pouring $40 billion into the company in return for partial ownership. The action was announced jointly by the Federal Reserve and the Treasury Department. All told the moves boost aid to the company to around $150 billion.

The $40 billion infusion comes from the recently enacted $700 billion financial bailout package. In return for the money, the government gets partial ownership stake in the company.
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A man from Fort Leonard Wood faces charges after a deadly crash in Camden County. The Highway Patrol says John Harrison, 20, crashed his pickup on a county road on Sunday.

A passenger in that truck, Ashley Parks, 21, of Gravois Mills, was thrown from the wreckage and died at the scene. Harrison is charged with driving while intoxicated and involuntary manslaughter.
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People in the Ozarks will remember a Pearl Harbor survivor on Tuesday, Veterans Day. Richard Ferguson spent most of his life in Carthage. He died at the Missouri Veterans Home in Mount Vernon on Friday at age 88.

erguson was known for sharing his personal accounts of the attack on Dec. 7, 1941. He also wrote a book about it.
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SPRINGFIELD -- The Springfield City Council will hold a public hearing on Monday night on a proposal to make the center of Park Central Square off limits to loiterers starting at 11 each night. The center of the square is already closed to loiterers from 1:30 a.m. to 5:30 a.m. each night.

After the public hearing, council members could vote in two weeeks whether to close it at 11 p.m. It would still be open to people passing through from one side to another. The streets and sidewalks are open all night.
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To see Brandon Beck's forecast, click on the video icon near the top of the page.

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