RUNNING ON EMPTY

Add the Big Three automakers to the list of giant U.S. corporations with really bad managers deemed by a growing list of industry supporters as too big to fail and in need of a serving of the $700 billion federal bailout pie. Without help, GM says it could run out of money by year-end and be forced into bankruptcy, with devastating ripple effects throughout the economy. But some analysts say Chapter 11, though painful, would be preferable to a taxpayer bailout, which might only delay the inevitable. As for top GM execs, don't worry, they don't appear to be in danger of running out of money.

WHAT RECESSION?

Eight of the 13 presidents of Pennsylvania's state-owned universities who are eligible for pay increases for 2008-09 will get 6 percent to 11 percent raises. The five other presidents received smaller raises, ranging from 2 percent to 4 percent. The presidents of Mansfield, Clarion and Millersville universities got the biggest raises. Kenneth Jarin, chairman of the board of governors for the State System of Higher Education, called the raises justified, although he acknowledged the size of the increases might be sensitive in a tight budget year.

QUOTE OF THE WEEK

"Whether Bailout II works is another question. But it's clear that Bailout I was already failing." -- Donald Light, an analyst at financial research firm Celent, commenting on the government's plan to pump billions more of life support into insurance giant American International Group.

SHORT CIRCUIT CITY

The nation's second-biggest electronics retailer, Richmond, Va.-based Circuit City, filed for Chapter 11 bankruptcy protection to fend off creditors as it attempts to reorganize. The retailer faced plunging sales, mounting losses and increasingly skittish vendors worried about the company's ability to pay its bills as the projected gloomy holiday shopping season approached. One bright spot: The company lined up $1.1 billion in loans for working capital as it devises a strategy to stay in business.

LADY AND GOLIATH

Murrysville resident Mary Bach, affectionately known as "the Scanner Lady" for her efforts to keep checkout scanners in Pennsylvania honest, won another case in small claims court against mighty Wal-Mart, this time for charging her more than the advertised price for a dress. Mrs. Bach said the Delmont store acknowledged the mistake and gave her a refund, but that she headed to court because the store wouldn't adjust the scanners to reflect the correct price for other customers. Wal-Mart, which pleaded no contest to the charges, paid $100 in damages plus court costs and promised to do better.

MENDING MORTGAGES

In a bit of help for the little guy, a handful of big banks announced plans to rework many troubled mortgages -- at least the ones they hold that haven't been "securitized" and sold in packages to outside investors. Then federal agencies including Fannie Mae and Freddie Mac rolled out their own rescue plan to help stem foreclosures. The program, set to kick in on Dec. 15, quickly drew fire for helping only a small fraction of distressed homeowners.

PNC PROMISE

PNC Financial Services Group, which is taking over troubled National City Corp., pledged to boost National City's annual charitable giving by $5 million next year, to $28 million. Grateful charities and communities undoubtedly were relieved that donations wouldn't be streamlined, although PNC didn't commit beyond 2009. Of course PNC's pockets will be a lot deeper, too, counting the $7.7 billion capital injection and expected multibillion-dollar tax break its getting from the Feds for swallowing the Cleveland-based bank.