There are still some details that have yet to be released, but the news that Delphi Corp., General Motors and an investment group have agreed on a revised plan to emerge from bankruptcy is great for Western New York.With Delphi and GM as major players in Western New York's economy, we were happy when the initial agreement was announced, but now the word is that there will be $5.2 billion in financing to help make this possible.The exit financing is actually lower than what was originally planned, but GM and Delphi are still optimistic this is a turning point for the struggling auto powerhouses."Today's filings, which have been agreed upon by GM and all of our plan investors, are the cornerstones of a plan of reorganization that we believe can be achieved during this challenging capital markets environment," John Sheehan, Delphi's chief restructuring officer, said in a statement.Sounds like good news to us.

Northwest Airlines slices tax bill by $380 million

Northwest Airlines did what a lot of taxpayers would like to do. It knocked $380 million off its tax bill.

The IRS said in 2005 that Northwest owed $392 million in back taxes. But bankruptcy court filings show Northwest got the IRS to settle for a $12.6 million claim in Northwest's bankruptcy.

Northwest has been settling the last of its bankruptcy claims since exiting Chapter 11 protection in May. Federal Bankruptcy Judge Allan Gropper has not yet ruled on the IRS settlement, although no one has objected.

Northwest says it doesn't want to talk about the settlement because it has not yet been heard by the judge. And he says discussions with the IRS are continuing.

IRS spokeswoman Carrie Resch declined to say why the agency settled for that amount, saying the IRS cannot comment on individual taxpayers .

Can Liberty University flourish without Falwell?

Today: Viewing, 9 a.m. to 9 p.m., Arthur S. DeMoss Learning Center grand lobby, 1971 University Blvd., Lynchburg Friday: Viewing, 9 a.m. to 4 p.m., Arthur S. DeMoss Learning Center grand lobby, 1971 University Blvd.; Baccalaureate Service, 7 p.m., Thomas Road Baptist Church sanctuary Saturday: Commencement, 9:30 a.m., Arthur L. Williams Stadium Sunday: Viewing, 1 to 8 p.m., Thomas Road Baptist Church Monday: Viewing, 10 a.m. to 6 p.m., Thomas Road Baptist Church Tuesday: Funeral, 1 p.m., Thomas Road Baptist Church (Internment will be private.) Scheduled speakers for Tuesday's funeral The Rev. Jerry Vines, retired pastor of First Baptist Church in Jacksonville, Fla., and former president of the Southern Baptist Convention. Evangelist Franklin Graham, the son of Billy Graham. Dr. Jim Moon, a long-time friend of Falwell.

Democratic Race Splits Some Couples in 2

For Erik Brock and Jeannie Baca, across the country in Portland, Ore., the conversations happen in groups of friends, or while they're driving to work and listening to public radio. "Often Erik will be excited, enthusiastic about something involving Obama," says Baca, 33, a research scientist who is leaning toward Clinton. "I tend to be the one who hears a report on Clinton and says, 'Oh my God, just give Hillary a break! Let her cry if she wants to!"

Yet for the women interviewed, though they may feel sisterly pride at Clinton's achievement, gender solidarity isn't usually the reason they mention.

Gazprom Calls on Ukraine to Clear Debt

An evident win of the Orange coalition at the parliamentary election in Ukraine has strained the country�s relations with Russia on the gas supply issue. Gazprom on Tuesday came up with blistering statements pushing Ukraine to quickly clear its outstanding debt for gas. The Russian gas monopolist now threatens to cut down the supply and has already warned its European partners about possible problems.
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