Libyan rebels driven from oil port

General Abdel-Fattah Younis, formerly the country’s interior minister before he defected to the rebel side, announced Saturday that Qaddafi’s forces now control both the town and the oil refinery in Ras Lanouf.

However, the rebels are vowing to return as soon as possible.

Qaddafi’s forces further advanced Saturday, pushing back rebel forces and publicly displaying control of now devastated towns.

The Arab League, in a move that places renewed pressure on intervention from the West, has formally asked the U.N. Security Council to implement a no-fly zone over the country.

However, the rebel forces themselves seem to be planning on a lack of international support.

“If the international community chooses to play the role of bystander, watching all the Libyan people being killed and cities destroyed, then we will have to defend ourselves,” Adbel-Hafidh Ghoga announced, speaking on behalf of the rebel forces.

Any decisive action that will be taken in Libya, at this time, remains in question. An end to the conflict also remains out of sight.

In a move to further slash spending and contain the deficit, House Republicans are considering bills to end distressed housing relief programs, reports FoxNews.

Thursday, the Republican controlled house voted to terminate the Federal Housing Administration’s Refinance Program; which since its inception under the TAR Program, has used just $50 million of its $8 billion budget.

The House is set on voting to end the Emergency Homeowners’ Relief Program today. The $46 billion HAMP and $7 billion NSP are also in the crosshairs.

All of these measures are expected to die in the Senate, or the White House should they go that far.

9:31AM LML Payment Systems settles litigation with PayPal; PayPal agreed to pay $7.5 mln in connection with the agreement (LMLP) 4.90 -0.19 :

The stock is off about 20% in two and a half days of trading.

NRP announced yesterday, March 10, that they acquired two new properties in Tennessee and Kentucky, both land and limestone reserves for a price of about $20.7 million.

Alan Mulally’s compensation will most probably surpass that of the industry’s previous record holder, ex-Ford CEO Alex Trotman.

Estimates put his earnings at around $313 million.