Thousands of people in Milwaukee are struggling to keep their homes as the city's Common Council calls for drastic action -- a nationwide moratorium on foreclosures.

Officials said more than 6,000 people are in the foreclosure process.

"There are about 5,000 homes currently now in foreclosure that are actually in the city's hands," said Urban Economic Development Association Executive Director Bill Johnson.

WISN 12 News spoke with a homeowner who is facing foreclosure after her husband lost his job.

The woman said the couple contacted their bank to see if they could work out a solution to no avail. She said they eventually had to file for bankruptcy as they desperately tried to modify their home loan.

The woman said the process took about a year, created mounds of paperwork and the couple received no communication from the bank.

Eventually, she said the bank told them they could modify the loan but the end result would cost them more than what their mortgage already was.

Top U.S. technology bosses met with White House officials on Wednesday to recommend how to use technology to cut deficits by $1 trillion over 10 years and offer advice on boosting the country's sluggish economy.

The Technology CEO Council said six chief executives led by IBM Corp's Samuel Palmisano would suggest ways to boost government worker productivity and save taxpayer money.

"America's growing national debt is undermining our global competitiveness," the council said. "How we choose to confront and address this challenge will determine our future environment for growth and innovation."

President Barack Obama is anxious to counter claims he is anti-business and has frequently invited corporate chiefs to the White House to pick their brains.

He also has voiced openness to lowering corporate tax levels and cutting red tape after criticism that his reforms raise the cost of doing business in the United States.

Voters, worried by U.S. unemployment stuck near 10 percent, are likely to punish Obama's Democrats in November midterm congressional elections, while Republicans have turned a record budget deficit into a potent criticism of Obama's presidency.

The technology executives will meet with top Obama advisers, including National Economic Council Director Larry Summers and White House Council of Economic Advisers Chairman Austan Goolsbee, as well as Federal Reserve Chairman Ben Bernanke.

The other corporate bosses were Motorola Inc's Greg Brown, Intel Corp's Paul Otellini, Micron Technology Inc's Steven Appleton, Michael Splinter of Applied Materials Inc and EMC Corp's Joseph Tucci.

The U.S. government would have to sell its General Motors stock for $133.78 per share to recoup the nearly $50 billion it spent bailing out the Detroit automaker, according to a watchdog of government bailout funds.

Neil Barofsky, the special inspector general for the $700 billion bailout of the financial industry and automakers, revealed the figure in an Aug. 30 letter to Sen. Charles Grassley, R-Iowa. The letter was obtained by The Associated Press on Wednesday.

GM repaid the government $6.7 billion. The remaining money was converted to a 61 percent ownership stake in GM plus $2.1 billion worth of preferred stock. The government plans to start selling its shares as part of a GM initial public stock offering that is tentatively scheduled for mid-November.

The government won't sell all the 304 million common shares it owns all at once. The Treasury Department and GM's new CEO have said it may take a couple of years and several "follow-on" sales for the government to recoup its investment. Also, analysts say the share price could start out low to help fuel demand. The hope is that GM's share price would rise as the company's car sales and finances improve.

Barofsky responded to a request from Grassley to make sure that Treasury is getting the highest possible price for GM's shares. Barofsky says that he will look into the matter.

A Canadian company's oil pipeline troubles in the U.S., including large spills this summer in Michigan and Illinois, could influence tougher regulatory proposals from Congress.

The U.S. House's Committee on Transportation and Infrastructure has scheduled a Wednesday hearing in Washington primarily to look into a spill that sent an estimated 820,000 to 1 million gallons spewing from an Enbridge Inc. pipeline near Marshall, Mich., in late July, polluting the Kalamazoo River.

Committee members also may discuss an Enbridge spill reported within the last week in suburban Chicago and ask regulators about a Pacific Gas & Electric Co. gas pipeline explosion that killed at least four people in suburban San Francisco.

The committee was researching new pipeline safety legislation even before this summer's accidents, which have caused Midwest gasoline prices to surge and raised questions about a nationwide system of aging pipelines that carry gas and hazardous liquids through communities and under rivers and lakes.

John LaForge, who's been living in a hotel since oil from an Enbridge pipeline contaminated his Michigan property in late July, wants Congress to send a tough message.

If you believe a few respected money managers, there's opportunity aplenty in stocks now. If you find that surprising, wait until you hear where they think the bargains lurk: big blue chips that almost always fetch premium prices.

Legendary bear Jeremy Grantham of GMO LLC in Boston says the U.S. faces "seven lean years" of meager growth, but he has been pounding the table about blue chip bargains with big dividends. Steven Romick of FPA Crescent predicts rising taxes and an economic malaise but is singing the praises about "bigger is better" stocks now, too.

"If you're worried about a feeble economy you want to own companies with strong balance sheets," says T2 Partner's Whitney Tilson, who is loading up on big, multinational companies though he doubts the market will rise much for a while. "The beauty today is those companies are on sale."

Blue chips are always in the news. They're widely owned by pension funds and by individual investors in index funds, and heavily covered by Wall Street analysts. They're the companies that sell beer and medicine. They're the banks where people put their money. They make tractors and computer software. And they typically trade at premium prices, so sometimes are shunned by contrarians like the three above who have been bearish when others are bullish.