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The previously scheduled January 20 conference call is being pulled to January 16 Friday bright and early at 7am. Ken Lewis undoubtedly has many good news he cant wait to share. At least it is not at same time as Citi (8am), or one would think one is trying to hide behind the other... which is simply ludicrous

According to debtwire, Smurfit Stone DID in fact make a payment on its 7,375% Notes. If you sold today, don't forget to reload tomorrow.

Apparently the plane is an Airbus 320 flying from LaGuardia to Charlotte, NC. The plane is semi-submerged in the Hudson River and is "slowly sinking". According to the US Airways website this is flight 1549. Media reports there were 148 passengers and 6 crew members onboard when the plane crash-landed into the river. The plane struck a flock of geese on take off. The crash occurred off of 50th street in Manhattan.

Death Watch candidate, greenhouse tomato producer and employer of illegal immigrants, Eurofresh Farms, does not disappoint.

CNBC reporting that Banc of America to receive more tax money to fund their phenomenally well-run operation. With purchases such as Angelo Mozillo's golden parachute and Merrill Lynch's empty cubicles this makes lots of sense. Looks like federal guarantee will be $100-$200 billion...

S&P posting a 20 point rally in past hour. Talking heads speculating this is due to expections of more taxpayer money about to come and bail everyone out via TARP 2 any second. This obviously did miracles last time around.

According to sources, the indenture trustee on Six Flags' 12.25% Notes due 2016 has confirmed that a $24.5 million interest payment on the notes was made. This buys the company a whopping two weeks before it has to make its February 1 coupon payment on its 8.875% Notes due February 2010.

Conference call with slides in progress...

DETROIT, Jan. 15 /PRNewswire/ -- General Motors today provided an update on company restructuring efforts included in the viability plan submitted to the federal government last month, and announced more conservative industry volume planning assumptions to ensure the viability plan is successful even in the most challenging of markets.

*SCHWARZENEGGER SAYS CALIFORNIA IS IN `STATE OF EMERGENCY'

Insider trading powerhouse Blackstone has been granted some relief over its scuttled $6.6 Billion acquisition of Alliance Data Systems, and Delaware Chancery Court Judge Leo Strine has ruled they are off the hook for the $170 million break up fee.

A notice sent out yesterday to all known and unknown lawyers involved in the "biggest bankruptcy of all time" can be found here.

Lawyers A Thru C, for full list click above

A notice sent out yesterday to all known and unknown lawyers involved in the "biggest bankruptcy of all time" can be found here.

Lawyers A Thru C, for full list click above

Translation: taxpayers, give us your wallets. Allegedly, GM will present a new top end estimate (which recently was the absolutely worst case estimate) of 10.5 million, down from 12 million, at a Deutsche Bank conference later today.

Now that's some aggressive rate cutting