Tight times in the booze biz

When the economy goes bad, people don't stop drinking. They do, however, rethink their choices. And that is hurting everyone in the booze business, from manufacturers to distributors to stores and restaurants. | 03/14/09 09:37:25 By - Sue Stock

Premier's tough talk aside, China's fortunes tied to U.S.

The Chinese prime minister's blunt warning on Friday that he fears that his nation's investments in U.S. financial assets may be endangered signals both a need to distract attention from troubles at home and how interrelated the two giant economies have become, analysts said | 03/13/09 18:59:00 By - Kevin G. Hall

Oil spill prevention, response improve since Exxon Valdez

Advances since the 1989 Exxon Valdez oil spill have helped to prevent additional mishaps as well as put in place the tools for a quick response to such spills, environmental regulators said Friday during a program to mark the 20th anniversary of the environmental disaster. | 03/13/09 18:29:00 By - Erika Bolstad

Q&A: Obama's economics guru defends deficit spending

Lawrence Summers, President Barack Obama's closest economic adviser, broke a long public silence on Friday, asserting that today's economic problems stem from an unsustainable financial model, and he defended heavy deficit spending as a necessary evil to restore the economy to health. | 03/13/09 17:34:00 By - Kevin G. Hall

Democrats launch TV attack on Sanford over stimulus

The national Democratic Party will launch a TV ad next week criticizing Gov. Mark Sanford for rejecting $700 million in economic stimulus money reserved for South Carolina. | 03/13/09 16:34:00 By - James Rosen

A trillion here, trillion there add up to unreal money

Let's face it: A trillion dollars is the new billion dollars. Both are unimaginable sums unless you can visualize, say, a stack of dollar bills 68 miles high, and that's just a billion. | 03/13/09 13:40:00 By - Frank Greve

Texas Democrats aim to overturn Perry's stimulus fund rejection

Gov. Rick Perry's decision on Thursday to turn down $555 million for expanded unemployment benefits from the federal stimulus package became an instant issue in his re-election campaign and provoked a confrontation with Democratic lawmakers who vowed to try to overturn the decision. | 03/13/09 07:18:48 By - Dave Montgomery and Aman Batheja

Kansas lawmaker's plan would use stimulus money for unemployed

In the face of mass layoffs and rising unemployment, a Wichita legislator has introduced a bill to expand eligibility for unemployment benefits and qualify Kansas for about $68 million in federal stimulus money. | 03/13/09 06:59:29 By - Dion Lefler

College students on spring break stimulate Florida's economy

As beachgoers clogged traffic on a futile hunt for parking along State Road A1A, Jay Olivera looked out at the deck of his Fort Lauderdale restaurant and gave special thanks for Spring Break '09. Olivera expects the rush of college students to double his business during a winter vacation season that has been a disappointment across South Florida. | 03/13/09 06:50:23 By - Douglas Hanks

Volunteering for medical research a lure in recession

With the economy careening and millions uninsured, some doctors and researchers believe the lure of volunteering for medical research is growing – and so are potential ethical pitfalls. | 03/13/09 06:39:33 By - Carrie Peyton Dahlberg

Obama's econ failure: Still no plan to fix the banks

So far, Obama Treasury Secretary Tim Geithner hasn't gotten any further toward removing toxic assets from banks than his predecessor did. Bush Treasury Secretary Henry Paulson promised to do it in October; he didn't. Now experts are saying that the Obama administration's inability to come up with a convincing way to do that is putting the whole economic recovery plan at risk. | 03/12/09 17:26:00 By - Kevin G. Hall

Stimulus rejected: S. Carolina's jobless rate growing fastest

South Carolina has the fastest growing unemployment rate in the country, and economists do not see an end to the cycle of job losses spreading across the state. | 03/12/09 10:25:42 By - Noelle Phillips

Demolition companies struggling with economy

Demolition companies are feeling the pinch of the down economy as lending has tightened, construction jobs have been delayed or canceled, killing much of the need for demolition work in the first place. | 03/12/09 07:30:51 By - Jack Hagel and Matt Ehlers

Geithner: U.S. hopes trade loans will boost world economy

The United States will press its allies over the weekend to adopt aggressive, coordinated economic stimulus programs and a range of other measures to reverse a global slowdown, Treasury Secretary Timothy Geithner said Wednesday. | 03/11/09 18:02:00 By - Kevin G. Hall

Don't lien on me: Merced homeowners finding hidden debts

A handful of local residents, including Michael Beltran, have recently discovered liens placed on their homes by the city of Merced for utility bills left unpaid by the previous owners. | 03/11/09 16:14:41 By - Corinne Reilly

Older California workers on the market again

Age may have its advantages, but helping older workers find a job in this economy isn't one of them. | 03/11/09 16:01:16 By - Tim Sheehan

Mississippi stimulus includes more for unemployed

Agencies in Mississippi are still cautious about saying exactly what they’ll get from the federal stimulus package or what they’ll do with it, but one group of Mississippians has already benefited — the unemployed. | 03/11/09 15:00:05 By - Karen Nelson

Federal stimulus funds spawn online, e-mail scams

Consumer advocates warn that scam artists are using the Internet to say – falsely – that they can help consumers access funds in the federal program intended to boost the economy. | 03/11/09 07:09:26 By - Nirvi Shah

Auto repair industry thriving in down economy

As new-car sales have plunged along with consumer confidence, more people are spending to keep their current cars running. Auto service and repair arguably have become the lifeblood of the industry. | 03/11/09 06:43:24 By - Mark Glover

Facing skepticism at home, some Dems resist spending bill

Rep. Gene Taylor, D-Miss., has a hard time going home to Bay St. Louis and explaining why Congress wants to boost federal spending for the rest of this fiscal year by 8 percent. "The police in my hometown make $10, $11 an hour" he said (although they actually make $12 to $13 an hour, according to the city). "How do I explain what we're doing here?" | 03/10/09 17:54:00 By - David Lightman

A tale of three cities: Recession saps local budgets

The economic recession is driving cities and counties to cut services and staffing and, in some cases, delay road building. The core problem is that governments are seeing declines in their main funding sources – property and sales taxes. Here is a closer look at what's causing the fiscal squeeze | 03/10/09 17:36:03 By - Loretta Kalb

Busy crisis centers suffer from economic stress, too

As more recession-racked people turn to crisis hot lines for help, more hot line operators say they're running short of staff and money. | 03/10/09 15:14:00 By - David Coffey

Car loan delinquencies rising amid signs of fraud

Many car buyers are having the same kind of trouble obtaining and paying off loans that plagued America's housing market, new data show. Some 3.25 percent of all indirect auto loans were at least 30 days overdue in the third quarter, the American Bankers Association reports. That's the worst showing since the group began compiling such numbers in 1980. | 03/10/09 14:15:00 By - David Lightman

Suicide warning signs

• Unusual talking or writing about death or suicide.
| 03/10/09 15:13:00 By -

Landscape firms cut losses in sinking real estate market

Growers of landscape trees and shrubs in South Florida saw their business plunge with the crash of the housing market. To stay afloat, many have turned to new crops, planted less, plundered their retirement fund or even threw crops away. | 03/10/09 15:13:30 By - Georgia Tasker

Airlines might ground planes, cut schedules

With travel traffic and demand dropping, major airlines may soon announce more plans to cut schedules and park jets, some analysts believe. | 03/10/09 07:41:51 By - Trebor Banstetter

Bank of America rescinds job offers to visa holders

Restrictions in the federal stimulus package have scuttled Charlotte-based Bank of America's plans to hire foreign-born business students as guest workers. | 03/10/09 07:35:19 By - Christina Rexrode

Corporate jet timeshares? Kansas City company hopes they'll fly

Last summer, Keith Plumb was trying to interest potential customers in the services of Kansas City-based Executive AirShare, which sells part ownership in small planes primarily for business travel. This summer, he plans on expanding the business. | 03/10/09 07:28:25 By - Randolph Heaster

Summer camps remain in family budgets despite recession

As many parents cut costs, they're forced to ask themselves whether splurging on summer camps for the kids is worth it. Local and national camp officials say that the answer is yes and that camp is the one thing parents are willing to pay for, even in hard times. | 03/10/09 07:20:03 By - Ann Spivak

Number of homeless children on the rise

A national study released Monday finds that one in 50 children in America is homeless. They're sharing housing because of economic hardship, living in motels, cars, abandoned buildings, parks, camping grounds or shelters, or waiting for foster care placement. | 03/10/09 06:43:01 By - Cynthia Hubert

Bill would raise credit limit for FDIC to cover deposits

As a buffer against systemic bank failures, the Federal Deposit Insurance Corp. is seeking to increase the amount of money it can borrow from the Treasury to compensate customers with deposits in banks that go under. | 03/09/09 21:37:00 By - Erika Bolstad

Q&A: How today is — and isn't — like the Great Depression

When President Barack Obama nominated Christina Romer to head the White House Council of Economic Advisers, he picked one of the world's foremost academic experts on the Great Depression. Now she's busily trying to prevent the very circumstances that she's spent much of her adult life studying. | 03/09/09 18:27:00 By - Kevin G. Hall

Regulatory reports show 5 big banks face huge loss risk

Their latest financial reports show that Citibank, Bank of America, HSBC Bank USA, Wells Fargo Bank and J.P. Morgan Chase have "current" net loss risks from derivatives — insurance-like bets tied to a loan or other underlying asset — of $587 billion as of Dec. 31. That's more than the banks' combined $497 billion in so-called "risk-based capital," the assets they hold in reserve for disaster scenarios. | 03/09/09 17:19:00 By - Greg Gordon and Kevin G. Hall

Californians debating how much stimulus state will receive

The issue: whether the state will get at least $10 billion, enough that it can avoid imposing higher taxes and new budget cuts. Gov. Schwarzenegger's administration says the total won't be that high, but a new study insists it will. | 03/09/09 16:24:00 By - Rob Hotakainen

Erosion adds twist to subdivision foreclosures in Middle Georgia

As the ongoing real estate meltdown leads some developers and builders to forfeit properties or declare bankruptcy, banks are finding themselves the owners of partially developed neighborhoods where Georgia clay is washing into roads and streams. | 03/09/09 15:37:06 By - S. Heather Duncan

Looking for a hot job? Try welding.

Markus Bogans used to spend his days selling foreclosed property for Wells Fargo, and before that, he handled Lending Tree mortgages. But both companies had laid him off within a year. Eager to change careers, he traded in his suit and tie for a blow torch and welding hood. | 03/09/09 15:07:42 By - Adam Bell

People scrimping on health care as economy slumps

More heart attacks, fewer breast implants. More ER visits, fewer trips to the doctor's office. More aspirin, fewer echocardiograms. And many people are afraid to miss work for healthcare because they fear it might cost them their jobs. | 03/09/09 11:39:12 By - John Dorschner

As economy tightens, more consumers are clipping coupons

During lean economic times, more shoppers are clipping coupons to trim their food bills. | 03/09/09 07:44:14 By - Barry Shlachter

Rentals of S.C. beach properties are down

Buddy Konecny has lowered rental rates on the Hilton Head Island beach houses that he manages about 10 percent across the board. But with stunning job losses and a topsy-turvy stock market, fewer people are plunking down deposits for a vacation. | 03/09/09 07:38:23 By - Kristy Eppley Rupon

Bargain travel deals plentiful in recession

With the economy in the tank, the tourism industry wants you to travel, even when spending makes most people queasy. Hotel rates are down 14 percent in vacation hot spots such as Orlando, Fla., and 34 percent in Las Vegas, according to Expedia. | 03/09/09 07:25:31 By - Brad Cooper

The latest fad? In-home gold-buying parties

FastCashGoldParties.com parties work a lot like Mary Kay or Tupperware parties. The host or hostess invites friends and neighbors to their home and provides refreshments. The company sends a buyer, and the host or hostess gets 10 percent of the total purchased by the company. | 03/09/09 07:14:37 By - Jim Jordan

Jobless? Maybe Verizon could hire people to call this number

California's Employment Development Department rang up a $1.1 million phone bill in February by playing a recorded message for jobless people who fail to reach operators at its unemployment insurance call centers. The state pays Verizon 5 cents each time the message plays, even if a person hangs up and redials without listening to it. | 03/09/09 06:34:25 By - Andrew McIntosh

As Bragg grows, so grows the Raleigh region

| 03/08/09 10:21:21 By - Martha Quillin

Recession or depression? There's a case for both

All expectations are for April Fools’ Day to mark the longest recessionary period since the Great Depression. For now, though, we don’t know for sure if we’re in a depression, headed for a depression, or simply in the longest, deepest recession since the 1930s. | 03/07/09 03:32:45 By - Diane Stafford

For ex-offenders, older workers, uneducated, jobs even harder to find

Julie Sizemore can only imagine what employers think when her resume crosses their desks. After all, the Danville, Ky., native is an ex-convict trying to re-enter the workforce during a severe recession after having spent several years at home caring for her three children. | 03/07/09 06:00:00 By - Halimah Abdullah

More stimulus funds headed for South Carolina

President Barack Obama on Friday released almost $38 million in economic-stimulus funds for South Carolina law-enforcement agencies, while federal transportation officials shipped the state more than $41 million for public transit systems. | 03/06/09 19:12:37 By - James Rosen

Central Calif. lawmakers want economic disaster declaration

The San Joaquin Valley's worsening recession leaves the region's lawmakers scrambling for solutions. | 03/06/09 16:45:00 By - Michael Doyle

The worst recession since World War II? Shaping up that way

Employers shed another 651,000 jobs in February, driving the unemployment rate up another half a percentage point to 8.1 percent, the highest rate in 25 years, the government reported Friday in the latest sign that the deep U.S. economic recession isn't abating. | 03/06/09 10:37:00 By - Kevin G. Hall

Stimulus funds eyed for high-speed rail between St. Louis, Kansas City

Years from now the train trip between Kansas City and St. Louis might be almost as fast as driving there by car. That's the best-case scenario should Missouri win a chunk of the Obama administration's multibillion-dollar commitment to speeding up train travel in America. | 03/06/09 07:22:34 By - Rick Montgomery

Report indicates Florida's Medicare HMOs saw big profits

Humana and Aetna earned the biggest profits among Florida health maintenance organizations in 2007, but CarePlus, which does only Medicare, raked in by far the biggest profits per member, thanks to lucrative payments from the federal government, according to a study being released Friday. | 03/06/09 07:01:40 By - John Dorschner

It may be a decade before Dow's back to 12,000, oracle says

When Republicans and Democrats in the nation's capital want to make a point about the economy, they often cite Mark Zandi. A middle-of-the-road economic forecaster who speaks in plain English, Zandi increasingly has become the economic oracle of record. | 03/05/09 17:58:00 By - Kevin G. Hall

Lewis must go, investor group tells Bank of America's board

An investment group affiliated with a coalition of unions on Thursday called for Bank of America Corp.'s board to remove chairman and chief executive Ken Lewis, citing his "disastrous missteps" as leader of the nation's biggest bank. | 03/05/09 16:04:18 By - Rick Rothacker

Two Missouri biofuels plants stop production

Two Missouri biofuels plants have ceased production, one of them filing for voluntary bankruptcy and the other getting hit with an involuntary bankruptcy petition. | 03/05/09 14:45:54 By - Dan Margolise

Mississippi governor wants $2.8 billion in Katrina funds spent

South Mississippi has $2.8 billion of unspent money earmarked for Katrina rebuilding programs, and Gov. Haley Barbour said Wednesday he'd like to see the majority of those projects started by Sept. 1, or else the state might take it back. | 03/05/09 12:33:18 By - Melissa M. Scallan

Foreclosure program may not help California's San Joaquin Valley

Two new foreclosure prevention programs may do little to help Northern San Joaquin Valley homeowners because housing values here have fallen too far. | 03/05/09 06:58:27 By - J.N. Sbranti

Answers to questions about Obama's foreclosure relief plan

The Obama administration thinks that its Making Home Affordable plan will help 9 million homeowners refinance problem mortgages or modify them in order to avoid foreclosure. Who qualifies for help of what kind? Here are some answers. | 03/04/09 17:51:00 By - Kevin G. Hall

Obama lends a little help to homeowners who face foreclosure

The Obama administration on Wednesday detailed its ambitious $275 billion plan to halt soaring foreclosures nationwide, outlining the financial incentives it's offering investors, lenders and their bill collectors to lure them into modifying distressed mortgages to keep Americans in their homes. | 03/04/09 16:28:00 By - Kevin G. Hall

Britain's Brown urges Congress to resist protectionism

British Prime Minister Gordon Brown told a joint session of Congress on Wednesday that the world must have a unified response to the international economic crisis if it's to survive an "economic hurricane." | 03/04/09 14:42:00 By - William Douglas

American Airlines pilots discuss work slowdowns

Thousands of American Airlines pilots gathered Tuesday to strategize about work slowdowns and other headaches that they might inflict on airline management if contact talks reach a breaking point. | 03/04/09 07:38:26 By - Trebor Banstetter

Freelance work a real option in tough economy

As times get tougher, many are turning to freelancing and contract work, transforming a trend that was once a lifestyle choice into a matter of economic survival. | 03/04/09 07:13:52 By - Cindy Krischer Goodman

Florida Gov. Crist calls for stimulus spending in speech

In a short and perfunctory State of the State speech, Gov. Charlie Crist urged the Legislature on Tuesday to rally behind his plan to spend billions in federal stimulus money as "a bridge to better economic times" in Florida. | 03/04/09 07:06:26 By - Steve Bousquet

Analyst says Sacramento may be past subprime loan crisis

A significant new indicator hints that as Sacramento, California was among the nation's first housing markets to stumble and fall, it may now be among the first to point the way out. | 03/04/09 06:54:49 By - Jim Wasserman

Alaska man starts Craigslist alternative

All Mike Baker wanted to do was sell some doghouses so he posted ads for them on Craigslist, the free Internet classified site. But pretty soon his ads wouldn't stay posted – people kept "flagging" them, or reporting them for not fitting into the Craigslist rules, and they would disappear. This lead to his creation of www.alaskalist.com. | 03/04/09 06:36:56 By - Rindi White

Obama urges anxious Americans to look at the long term

The $787 billion stimulus has begun flowing into the economy, but President Obama isn't done selling its merits to Americans. To counter ever-sliding stock prices and consumer angst, he's ramping up a marketing campaign. | 03/03/09 17:53:00 By - Margaret Talev

As economic suffering spreads, so do financial scams

Researchers say people are more susceptible to investment scams such as Ponzi and pyramid schemes after going through adverse life events — a job loss, foreclosure or some other financial hardship. | 03/03/09 15:45:00 By - Tony Pugh

Homeowner counseling may draw thousands to Carolina Coliseum

More than 10,000 homeowners are expected to line up around the Carolina Coliseum next week for a chance to cut their mortgage payments. | 03/03/09 15:42:35 By -

Fed, Treasury try another tack to lubricate lending machinery

Hoping to vault over the frozen credit markets and directly reach consumers and businesses, the Federal Reserve and Treasury Department on Tuesday unveiled a $200 billion plan they hope will spur up to $1 trillion in new lending. | 03/03/09 14:58:00 By - Kevin G. Hall

Bank of America CEO's salary takes a hit

The BofA chief's total pay in troubled 2008 was $1.8 million, down from $10.2 million a year earlier. | 03/03/09 07:19:09 By - Rick Rothacker

In snowy D.C., thousands protest against coal power

Out of the thousands who swept the nation's capitol to push for environmental policy changes on Monday, a group from Kentucky’s Appalachian region — an area known for crushing poverty in the shadows of the state’s coal mines — stood front and center. | 03/02/09 19:52:25 By - Halimah Abdullah

How Idaho's Treasure Valley's vibrant economy disintegrated

Micron has laid off 4,000 workers since 2003 and plans to cut 2,000 more by August - and other layoffs have been occurring almost daily around the Treasure Valley. | 03/02/09 14:07:04 By - Brad Talbutt

Pool cue chalk company weathering tough economy

Even though Steve Hobby has had to downsize and keeps a watchful eye on his fax machine for orders, he has at least one thing going for him during this sluggish economy. He has a fairly exclusive business – making chalk cubes for pool cues. | 03/02/09 12:01:35 By - Linda S. Morris

Another week, another bailout: U.S. throws more funds at AIG

Taxpayers will take a nearly 78 percent ownership stake in insurer American International Group, the Treasury Department announced early Monday, in a bailout revamp that could provide another $30 billion to AIG as the troubled giant posted a mind-numbing quarterly loss of $62 billion loss — the largest in American corporate history. | 03/02/09 11:37:00 By - Kevin G. Hall

Will early hydrogen fuel cell investment pay off for South Carolina?

South Carolina leaders urge patience, saying seeds being planted now for hydrogen fuel cells will take 20 years to payoff. But criitics say USC putting eggs in one basket | 03/02/09 07:39:36 By - Jeff Wilkinson

Dallas used book stores seeing more sellers

It's not the Nasdaq or the Dow, but as a measure of Americans' economic straits, the number of books we're pulling off our shelves and converting to ready cash might not be a bad barometer. | 03/02/09 07:32:55 By - John Austin

Finding a job will be work for college grads

There's good news and bad news for college grads on the job front. There are jobs to be had. Unlike the good old days, say last year, a decent grade-point average and some previous experience isn't a practically guaranteed ticket to a steady paycheck. | 03/02/09 07:15:51 By - Mary Meehan

Wanna trade? Bartering catches on

John Roppelt's eyes opened to the potential of bartering when he got Lasik eye surgery without spending a dime of his own money. | 03/01/09 15:32:02 By - JOSH McCANN

Cruise lines get creative in attempts to fill ships

In an attempt to lure cruise passengers to Alaska in spite of a horrid economy, one Alaska cruise line is dangling the granddaddy of cruise tours. | 02/28/09 09:30:13 By - Elizabeth Bluemink

Florida is No. 3 in nation for identity-theft complaints

dentity theft continues to be the chief complaint reported to the Federal Trade Commission, data reported this week shows, and identity-theft incidents in Florida climbed about 25 percent in 2008. | 02/28/09 09:20:15 By - Nirvi Shah

In tough times, thrift stores are thriving

When the going gets tough, the tough go shopping. It's a jest, but it's true, at least in this sense: When the economic going gets tough, the tough go shopping at thrift stores. | 02/27/09 15:32:53 By - Carlos Alcala

Texas cattle interests concerned about meat-labeling request

Texas cattle interests are watching who will blink first – the beef industry or the Obama administration, which is asking that packers and retailers go beyond meat-label rules that take effect March 16 and voluntarily spell out the countries where a steer was born, raised and slaughtered. | 02/27/09 07:43:55 By - Barry Shlachter

Recession adds pressure to college application choices

The recession has introduced an extra layer of uncertainty for high school seniors applying to North Carolina universities as well as the admissions officers charged with reviewing those applications. | 02/27/09 07:31:22 By - Jay Price

Bank of America, Merrill Lynch merger continues despite turmoil

While investors fret about the wisdom of Bank of America Corp.'s purchase of Merrill Lynch & Co., Brian Moynihan is charging ahead with the integration of the two financial giants. | 02/27/09 07:14:45 By - Rick Rothacker

California wind farms providing energy and jobs

Like the first blades of grass in scorched earth, a new crop of wind turbines in Solano County will be generating not only electricity but steady income for refugees of the ravaged housing and automotive industries. | 02/27/09 06:50:16 By - Chris Bowman

Obama budget increases workplace safety funding

Asserting that mounting workloads and dwindling staff have hindered the government's ability to protect workers, President Barack Obama is pledging to increase the enforcement of workplace safety. | 02/26/09 19:18:00 By - Lisa Zagaroli and Ames Alexander

Rosy economic predictions underlie Obama's budget

President Barack Obama's proposed $3.55 trillion budget contains many proposed changes, but one staple of federal budgets didn't change, as he offered rosier economic projections than those envisioned by private analysts. | 02/26/09 18:43:00 By - Kevin G. Hall

Obama effect? Blacks optimistic in spite of economic struggles

While African-Americans are bearing the brunt of the job cuts and home foreclosures that are resulting from the national recession, some think their optimism's rooted in pride and confidence in President Barack Obama, the nation's first African-American president. | 02/26/09 17:25:00 By - William Douglas

Stimulus funds could help families in North Carolina

More than $10 billion in stimulus money announced by federal housing officials this week could help families in North Carolina move from the streets to permanent housing in Durham, pay for renovations to poor senior citizens' apartments in Raleigh and develop low-income communities in Chapel Hill. | 02/26/09 17:46:36 By - Barbara Barrett

Three spending packages will move funds into Valley

WASHINGTON -- The San Joaquin Valley will get its share from three huge spending packages now colliding on Capitol Hill. | 02/26/09 16:56:00 By - Michael Doyle

More than 5,000 show up at job fair in Davie, Florida

Clutching brief cases, donning dark suits and trying to put their best foot forward, more than 5,000 people lined up Thursday at the Signature Grand in Davie with one objective: to find a job. | 02/26/09 16:43:00 By - Laura Figueroa

Highlights of Obama's proposed fiscal 2010 budget

Here are some highlights of the $3.55 trillion fiscal 2010 budget, which President Barack Obama proposed on Thursday. | 02/26/09 14:53:00 By - Robert A. Rankin

Bailouts, budgets, stimulus: How to keep track of it all

President Barack Obama's fiscal 2010 budget request is only the latest in a series of recent massive federal spending programs that have arrived so fast and furiously that many Americans might have trouble keeping track of them all. | 02/26/09 14:16:00 By - McClatchy Newspapers

Thin U.S. job market translates study abroad into work abroad

As job prospects thin at home, American college seniors and recent graduates are looking overseas for work, even of the unpaid variety. Organizations that send volunteers abroad are noticing a significant jump in applications for their programs compared with earlier years. | 02/26/09 00:33:00 By - David Coffey

Obama might target Lockheed Martin's F-22 for defense cuts

President Barack Obama may have Lockheed Martin’s F-22 Raptor fighter jet in his sights as a prime target for cutting big-dollar defense programs. | 02/26/09 07:25:56 By - Bob Cox

Services spring up to aid jobless but some may be scams

As the ranks of the jobless continue to swell, entrepreneurs are increasingly targeting the newly unemployed with services that may help them land a job – or strip them of much needed cash. | 02/26/09 07:16:24 By - Adam Bell

U.S. seeing rise in mass layoffs

Mass layoffs are putting more people out of work. The U.S. Department of Labor said Wednesday that 238,000 people lost their jobs in mass layoffs nationwide in January, a 60 percent increase from January 2007. | 02/26/09 06:55:13 By - Scott Andron

Wall Street scam may hit Sacramento, Calif. pension system

Sacramento County's pension system stands to lose as much as $52 million thanks to the latest Wall Street scandal. | 02/26/09 06:49:52 By - Robert Lewis

Price of emissions: House bill would send taxpayers a check

Rep. Chris Van Hollen, D-Md., said on Wednesday that he'll soon introduce a climate bill that does something different — it would return at least 90 percent of the money from the sale of emissions permits to every American man, woman and child. | 02/25/09 19:38:00 By - Renee Schoof

Obama to propose raising taxes on wealthy for health-care fund

President Barack Obama plans to propose on Thursday the creation of a $634 billion fund over several years to finance major changes in health care, White House officials said Wednesday. | 02/25/09 19:27:00 By - Steven Thomma

Now, the details: Banks to get nearly unlimited federal funds

Taking the wraps off its much anticipated bank-rescue plan, the Obama administration on Wednesday announced that it will provide a virtually unlimited solvency guarantee to the nation's 19 largest banks. | 02/25/09 17:48:00 By - Kevin G. Hall

Housing stimulus funds headed for SC

Federal housing officials Wednesday released $10 billion in stimulus funds, with $117.2 million headed for South Carolina. | 02/25/09 18:18:00 By - James Rosen

Now, the details: Treasury to give banks unlimited refills

Taking the wraps off its much anticipated bank-rescue plan, the Obama administration on Wednesday announced that it will provide a virtually unlimited solvency guarantee to the nation’s 19 largest banks. | 02/25/09 19:46:26 By - Kevin G. Hall

Texas financier accused of fraud owes IRS $104 million, too

Texas billionaire financier R. Allen Stanford was in a heap of hot water with federal authorities even before the Securities and Exchange Commission filed civil charges Feb. 17 accusing him of running an $8 billion "massive ongoing fraud" at his financial empire. | 02/25/09 15:27:36 By - Martha Brannigan

Third time's the charm? Obama makes another commerce pick

Taking note of his Chinese immigrant roots and calling him an "outstanding" public servant, President Barrack Obama on Wednesday nominated former Washington Gov. Gary Locke as the secretary of commerce.

The nomination requires Senate confirmation. | 02/25/09 13:23:00 By - Les Blumenthal

Florida's reaction to Obama's speech is mixed

President Barack Obama's prime-time speech was greeted with a wait-and-see attitude in South Florida, where the economy has been battered by the housing crisis and growing unemployment. | 02/25/09 07:29:12 By - Robert Samuels and Evan Benn

Homeless California families to appear on 'Oprah'

A national spotlight will shine on Sacramento today, and the images promise to be less than flattering. In a program about the recession and a growing homeless population, the "Oprah Winfrey Show" is featuring California's capital city, among other venues. The program will include interviews with struggling families at the Cal Expo and St. John's shelters, shots of homeless children at the Mustard Seed School at Loaves & Fishes and a sprawling "tent city" near the Blue Diamond almond factory where hundreds of men and women sleep every night. | 02/25/09 07:08:04 By - Cynthia Hubert

Gottschalks bonus plan draws fire

A federal bankruptcy trustee objected Monday to a request by Gottschalks Inc. to pay bonuses to its top two executives. But one local bankruptcy attorney said he believes the payout will likely win a judge's approval anyway. | 02/24/09 15:45:41 By - Tim Sheehan

Bernanke: This isn't nationalization (experts aren't so sure)

Federal Reserve Chairman Ben Bernanke strongly defended the new rescue plan for banks Tuesday, denying that it amounts to nationalization but conceding that because he lacks the authority to close down giant financial institutions, the next-best option is propping them up with taxpayers' money. | 02/24/09 00:55:00 By - Kevin G. Hall

Fear is how Americans are reacting to the economy

Seventy-three percent of Americans who responded to a CNN/Opinion Research Corp. survey released Monday said they were somewhat or very "scared" about the way things are going in the United States, even though just as many said they were doing fine personally. | 02/24/09 07:44:37 By - Rick Montgomery

Treasury Department's bank stress test a mystery

The Treasury Department has hinged a big part of its plans for the banking industry on a so-called stress test, but has revealed almost nothing about what the test might entail. Banks must fail the test to receive new assistance from the government. But what does it measure? | 02/24/09 07:35:07 By - Christina Rexrode

Texas aims to help renters whose landlords face foreclosure

Texas has always been a tough place for renters, especially those on limited incomes. But the foreclosure crisis has turned thousands of people out on the street through no fault of their own. | 02/24/09 07:23:39 By - Mike Lee

Some foreclosure rescue schemes can make a mortgage mess

Sometimes a firm that promises to help modify delinquent home loans can make matters far worse. | 02/24/09 07:09:49 By - Monica Hatcher

Recession to push more into public health coverage, analysts say

Six million Americans are expected to lose private health coverage by the end of next year, while Medicaid, the national health program for low-income Americans, will beef up its enrollment to pick up much of the slack, federal health analysts reported Monday. | 02/24/09 00:01:00 By - Tony Pugh

Obama close to naming ex-Washington governor Locke for Commerce

Former Washington Gov. Gary Locke, the nation's first Chinese-American governor, will likely be nominated to be secretary of Commerce, an administration official and Capitol Hill sources confirmed Monday. | 02/23/09 19:10:00 By - Les Blumenthal and Joseph Turner

Health care stressed at Obama's 'fiscal responsibility summit'

President Barack Obama will convene a White House meeting next week to address runaway health-care costs. On Monday he called it key to reining in federal spending as he tries to balance plans to spend the country out of recession with shoring up its long-term fiscal health. | 02/23/09 18:36:00 By - Steven Thomma

Big stimulus bill sparks long-term fiscal fears

Despite all the White House hoopla Monday about "fiscal responsibility," Washington is showing little inclination to practice what it's preaching. | 02/23/09 16:54:00 By - David Lightman

Tailor shops emerging as mall alternative during recession

With the economic recession making people's closets a more popular place to find clothes than the mall, tailors have no shortage of work. | 02/23/09 15:25:42 By - Marti Covington

Boat businesses stay afloat during rough economic times

The economy has left a ripple effect on the boating market, but dealers are determined to not let it sink sales. Metro-east boat retailer Rob Smith just witnessed low turnouts at recent boat shows in Belleville and St. Louis. But he said most of those who turned out were buyers. | 02/23/09 15:22:51 By - Will Buss

Billy Graham's organization is laying off 10 percent of its staff

The Charlotte-based Billy Graham Evangelistic Association is laying off 55 employees — about 10 percent of its staff. | 02/23/09 14:41:00 By - Tim Funk

Bank takeovers would leave shareholders in the cold

The government's blueprints for the banking industry have a lot to say about protecting the taxpayer and the struggling homeowner. But they offer virtually nothing for the banks' shareholders, many of whom once planned to use those investments for dreams like college, retirement or down payments. | 02/23/09 14:36:32 By - Christina Rexrode

Bank regulators pledge more help, reject nationalization

Amid growing concerns that the U.S. government may be forced to take over large parts of the banking system, five federal regulators issued a joint statement Monday announcing the creation of a special lifeline to keep troubled banks afloat, but they rejected outright nationalization. | 02/23/09 13:22:00 By - Kevin G. Hall

New York AG wants ex-Merrill Lynch CEO to discuss bonuses

New York Attorney General Andrew Cuomo filed a petition in New York state court Monday asking that former Merrill Lynch & Co. chief executive John Thain be compelled to testify about bonuses issued to Merrill employees shortly before the firm's sale to Bank of America Corp. on Jan. 1. | 02/23/09 13:18:27 By - Rick Rothacker

People with disabilities finding fewer jobs available

Even as future readers and their parents swarm around her, Sue Rodenbaugh smiles and continues to alphabetize books. Rodenbaugh, 50, works as a page at the Boise Public Library, which makes her a member of at least two minority groups: She has a developmental disability – and a job. | 02/23/09 09:01:57 By - Anna Webb

When the search for a job becomes a full-time quest

Darren Wright has been living disappointment. He had once figured it would take 60 days to find a new job – a decent-paying job like the one the 42-year-old vice president and, before that, Hallmark middle manager, used to have. That was 177 days ago. | 02/23/09 07:35:41 By - Eric Adler

GM workers at Texas plant await answers on contracts

A cloud of uncertainty hangs over workers at General Motors' Arlington assembly plant, and there is little officials of United Auto Workers Local 276 can do to make it clearer at the moment. | 02/23/09 07:22:42 By - Bob Cox

Building contractor eager to take on any sized projects

The recession means costs are lower and highly skilled workers are available and eager to work. One North Carolina contractor says the scope of remodeling jobs have changed and he's taking on smaller projects these days. | 02/23/09 07:12:00 By - Cristina Bolling

California high-tech hub Grass Valley pinched by recession

The recession has brought layoffs, cutbacks and ripples of anxiety to the technology companies of Grass Valley and neighboring Nevada City. Some firms are expanding, but what's happening overall is a small-scale version of the slump in Silicon Valley. | 02/23/09 06:46:54 By - Dale Kasler

Obama's deficit plan based on optimistic assumptions

In order to achieve his goal of cutting the federal budget deficit in half, to $533 billion by 2013, President Barack Obama would need cooperation from Congress; the U.S. and world economies; Iraqi political and militia leaders; Afghan warlords and politicians; and perhaps even Iran, China and Pakistan. | 02/22/09 19:47:00 By - Kevin G. Hall and David Lightman

Earmark reform? 2009 spending bill contains 9,000 of them

During the 2008 presidential campaign, candidates Barack Obama and John McCain fought vigorously over who would be toughest on congressional earmarks. President Obama should prepare to carve out a lot of free time and keep the coffee hot this week as Congress prepares to unveil a $410 billion omnibus spending bill that's riddled with thousands of earmarks, despite his calls for restraint and efforts on Capitol Hill to curtail the practice. | 02/22/09 00:05:00 By - William Douglas and David Lightman

Schwarzenegger says GOP should work with Obama

Likening California's budget troubles to an earthquake, Republican Gov. Arnold Schwarzenegger on Sunday defended his decision to raise taxes and said his party's leaders in Washington should be "team players" with President Barack Obama. And if that means violating the GOP's principles, he said, so be it. | 02/22/09 00:21:00 By - Rob Hotakainen

Labor's revival could reignite fight over ergonomics

Barely a month into his presidency, Barack Obama has made it clear that the labor movement is back in vogue in Washington. | 02/22/09 06:00:00 By - Rob Hotakainen

Schwarzenegger looking to make infrastructure sexier

California Gov. Arnold Schwarzenegger called himself an "infrastructure fanatic" on Saturday, but he said U.S. politicians need to do a better job of marketing if they want to spend more on fixing the nation's roads and bridges. "The word infrastructure means nothing to the majority of people of America," Schwarzenegger said. "We have to come up with a sexier word." | 02/21/09 18:12:00 By - Rob Hotakainen

Nationalization fears drive down bank stocks

Bank of America shares withered for a sixth straight day on Friday — but it could have been a whole lot worse. | 02/21/09 09:35:22 By - Rick Rothacker

How much government spending is ahead? Stay tuned

The Obama administration will devote much of next week to explaining for the first time how it wants to spend trillions of government dollars, but its plans will confront daunting deficits, skeptical experts and lawmakers who are eager to get their own favorite projects funded. | 02/20/09 14:29:00 By - David Lightman and Margaret Talev

New Starbucks plant has its perks

People in Calhoun County were hyped Thursday about the new Starbucks coffee roasting plant. And it wasn’t just because of the caffeine they consumed while touring the plant. | 02/20/09 15:32:36 By - Noelle Phillips

Port of Gulfport expansion set for April

Port of Gulfport officials said they expect to turn dirt in April on a massive restoration and expansion project, which they said would eventually create 6,500 direct jobs and generate billions in revenue. | 02/20/09 14:10:02 By - Michael Newsom

Experts: California budget's higher taxes 'ugly' but necessary

Merchants across California were toting up potential losses from the 1-cent increase in the state sales tax. Meanwhile, the higher personal income taxes could prompt some wealthy Californians — who account for a huge share of tax payments — to flee the state. | 02/20/09 08:00:41 By - Dale Kasler

Interactive map: Where are the bailout's billions?

As the government's authority in the banking industry continues to grow, the hottest debate is over how banks are spending federal funds. But even more fundamental is the issue of which banks will receive Uncle Sam's money. | 02/20/09 07:39:18 By - Christina Rexrode

Idaho bank asks how to spend TARP money

Curt Hecker, president and CEO of North Idaho-based Intermountain Community Bancorp, wants to hear from government, economic development and nonprofit leaders about how the bank can use its new investment from the U.S. Treasury to target the most urgent community needs. It is not the usual strategy for a bank looking to lend money. | 02/20/09 07:06:27 By - Bill Roberts

Nationalizing troubled banks may be the only answer

Former Federal Reserve Chairman Alan Greenspan thinks it's necessary. His successor, Ben Bernanke, doesn't rule it out. From editorial pages to the blogosphere to boardrooms, this is the question on many minds: Should the United States nationalize some banks? | 02/19/09 19:03:00 By - Kevin G. Hall

Rising crime could be the recession's next effect

Experts say that the next piece of collateral damage from the recession could be a spike in crime, as rising unemployment and widespread law-enforcement budget cuts begin to take their toll. | 02/19/09 16:36:00 By - Tony Pugh

Some illegal immigrants might get stimulus-related jobs

Some construction jobs created as a result of the federal stimulus bill could go to illegal immigrants. Congress stripped language from the package that would have required employers to verify the legal status of workers paid with stimulus money. | 02/19/09 07:17:43 By - Franco Ordonez

California gift shop owner finding sales tougher in recession

Amid an entrenched recession and coming off one of the worst holiday shopping seasons in years, Sacramento gift shop operators say the nature of their business is shifting. Customers are more discriminating and cost-conscious. Vendors who once drove a hard bargain are more willing to deal on price and less hard-line on the minimum number of items required per order. | 02/19/09 06:47:51 By - Mark Glover

California pays millions for jobless center phone message service

Millions of failed calls to the state's unemployment insurance call centers are costing California taxpayers millions of real dollars. Callers get a pre-recorded message telling them that the department's phones are getting more calls than staff members can answer. | 02/19/09 06:42:40 By - Andrew McIntosh

Amid store closings, one opens: IKEA comes to Charlotte

IKEA did not plan on opening its first Carolinas location in the middle of the worst recession in decades. Yet that's just what happened — and the Swedish home furnishings giant says it's fine with that. | 02/18/09 20:35:02 By - Jen Aronoff

Next economic victim may be plant that builds Corvettes

With General Motors' announcement Tuesday that it would shutter five more North American plants than once planned, Kentucky residents are wondering whether Bowling Green's Corvette plant might be next. | 02/18/09 20:09:40 By - Jim Jordan and Scott Sloan

Bernanke: Nationalizing banks, if it's necessary, won't last long

Federal Reserve Chairman Ben Bernanke said Wednesday that there would be drawbacks to the federal government nationalizing banks and the Obama administration remained committed to "return them to private hands" quickly if nationalization became necessary. | 02/18/09 18:50:00 By - Lisa Zagaroli and Rick Rothacker

Stimulus will flow rapidly to some projects, trickle to others

Energy programs could see money flowing in two to three months. Some highway projects could get funding right away, while some could wait until next year. And key tax breaks will start showing up this summer. However, there's no easy way to pinpoint when people will see pieces of the $787 billion economic stimulus plan start to show up in their communities. | 02/18/09 17:10:00 By - David Lightman and William Douglas

Times aren't so bad for wine — especially from a jug or a box

Maybe we're just drowning our sorrows, but Americans drank more wine in 2008 than in 2007. Cheaper wine, perhaps, but our thirst endures. | 02/18/09 16:18:08 By - Fred Tasker

Obama's housing plan is bold, but is it better than Bush's?

President Barack Obama rolled out a bold $275 billion, three-part plan Wednesday to halt the soaring rate of mortgage foreclosures nationwide. Like the failed efforts under the Bush administration, however, the Obama plan doesn't compel banks and other lenders to modify troubled mortgages. | 02/18/09 14:39:00 By - Kevin G. Hall

Florida tourism slide may be worse than post-9-11 decline

Broward County's tourism industry painted a grim picture of itself Tuesday, saying that in some ways the vacation market is suffering more than it did after the 2001 terrorist attacks. | 02/18/09 07:15:07 By - Douglas Hanks

Research Triangle home sales fell 45 percent in January

Sales of Triangle homes hit a 10-year low in January as prospective buyers — hopeful for bigger price drops, or fearful of unemployment — let caution trump low mortgage rates. | 02/17/09 21:28:25 By - Jack Hagel

Real estate weighs heavily on Kansas City's banks

Mounting real estate woes are weighing heavily on parts of Kansas City’s banking industry. And some banks are reporting sizable net losses from foreclosed properties and delinquent real estate loans. | 02/17/09 21:08:41 By - Mark Davis

Obama's housing fix: Encourage lenders to help borrowers

President Barack Obama will provide a set of incentives to lenders to to help homeowners who are facing foreclosure. He introduced his new $75 billion plan on Wednesday in Phoenix, an area hit hard by the housing crisis. | 02/17/09 19:16:00 By - Kevin G. Hall

California can expect big chunk of stimulus spending

San Joaquin Valley police departments can expect reinforcements from the $787 billion economic stimulus bill signed Tuesday by President Obama. | 02/17/09 16:39:00 By - Michael Doyle

Q&A: I've lost my job. How will the stimulus plan help me?

President Barack Obama signed into law Tuesday the largest government economic rescue plan in the nation's history, a $787 billion package of spending, tax cuts and tax credits that's designed to help pull the nation out of what's becoming the worst downturn since the Great Depression. | 02/17/09 16:19:00 By - Kevin G. Hall

South Florida building departments suffer during downturn

There was a time when Davie Town Manager Gary Shimun struggled to find enough qualified code inspectors to deal with the building boom that swept South Florida. Now he's struggling to finding enough jobs to send them to. | 02/17/09 15:14:58 By -

Teens, like adults, must adjust to the downturn

Katy Sword traded her newer Dodge Stratus and car payments for a beat-up Mazda pickup she owns outright. And still the Borah High School senior - who works two jobs to pay for gas, insurance, food and clothes - said it's difficult to find money for band trips and extra school expenses | 02/17/09 12:35:08 By - Sandra Forester

Businesses cut expenses by relocating, downsizing

To survive these tough economic times, some small businesses in Manatee County are getting smarter and more creative to save on rent. These alternatives come with some challenges, but business owners say it’s a fine tradeoff for the sake of keeping their company going. | 02/17/09 12:13:07 By - Grace Gagliano

Elderly hit harder by recession

As the recession deepens, more older North Carolinians are needing help refinancing homes, keeping the heat on, affording health care, finding jobs and getting enough to eat. Social service outfits that cater to the elderly are struggling to keep pace with increased demand. | 02/17/09 07:14:58 By - Thomas Goldsmith

University of Miami to institute wage freezes, budget cuts

No massive layoffs are expected; however, faculty at each of UM's 12 schools and colleges have been asked to come up with proposals that would slice 5 percent and 10 percent from their budgets for the upcoming fiscal year. | 02/17/09 07:00:49 By - Ina Paiva Cordle

Tired of the economy? Say it with a bracelet

It's the "I'm Tired of the Economy" bracelet. Stamped with that message, the metal-and-rubber bracelet even comes with its own "stimulus package" – a $5 instant rebate to customers who purchase the $10 bracelet online. Money raised with the bracelets goes to charity. | 02/17/09 06:50:30 By - Darrell Smith

Schwarzenegger to send 20,000 layoff warnings Tuesday

California Gov. Arnold Schwarzenegger on Friday said he would hold off sending the notices to workers because it appeared a budget deal was imminent. But that tentative agreement went nowhere when a Republican state Senator refused to vote Saturday for the budget. | 02/16/09 20:41:09 By - Kevin Yamamura

Stimulus, check — but for Obama, it's just the beginning

This week will be a pivotal one for President Barack Obama and the U.S. economy, as interlocking parts of his economic rescue effort are set to be signed, sealed or delivered. On their own, each development would be dramatic by historical standards. But for any of them to succeed, they'll need to work in unison with the others. | 02/16/09 18:07:00 By - Kevin G. Hall

Stimulus may put some wind in clean energy's sails

Many of the jobs that the economic stimulus would create are generated by the parts of the plan that also are intended to help combat global warming and reduce the nation's dependence on fossil fuels. | 02/16/09 17:05:00 By - Renee Schoof

Silent majority makes up large part of economy

In 2002, Murata Electronics employed about 1,200 people in Centre County. Among them were David Hellyer and Terri Breindel. | 02/16/09 15:18:55 By - Nick Malawskey

Nursing jobs no longer a sure thing in California

For the past several years, nursing students in the Northern San Joaquin Valley had jobs lined up before they graduated. Not anymore. It's a sign that health care jobs are not such a bright spot in the dismal labor market. | 02/16/09 12:04:13 By - Ken Carlson

Taxpayers appealing to lawmakers for help with loans

Rep. Mel Watt is used to dealing with constituents who need help with government agencies. But once Congress passed a $700 billion bailout of the banking system, some people started turning to him for help with the private sector. They've asked him to assist their appeals of rejected loan applications from banks that collected federal bailout money. | 02/16/09 07:23:19 By - Lisa Zagaroli

Some job seekers taking polish off their resumes

Some job seekers fear being labeled overqualified, so they omit or reword impressive aspects of their background. | 02/16/09 07:15:45 By - Kirsten Valle

Florida prisoners feeling recession's effect on their plates

Expensive food vendors are no longer providing meals for Florida's prision., The state must run an in-house meals program on less money than it paid vendors in 2008 amid the worst budget crisis in decades. | 02/16/09 06:55:46 By - Steve Bousquet

South Carolina's jobless don't match available jobs

South Carolina had more than 200,000 unemployed people and nearly 40,000 job vacancies last month. Why can’t at least some of those jobless workers be matched with the open jobs? | 02/15/09 19:27:37 By - Noelle Phillips

Goodbye, filet mignon. Hello again, pizza and Taco Bell

Americans are abandoning business lunches, white tableclothes, caviar and filet mignon for fast food, counter service and old-fashioned comfort food. The restaurants best situated to survive, are "the community places, the feel-good, comfort places with lower prices and the owner who knows your name. Pizza, fried chicken, egg dishes. Small plates." | 02/15/09 19:03:43 By - C.R. Roberts

Thin mints, Trefoils go on a diet as cost of flour rises

The box of Girl Scout Thin Mints you pick up this year will be slimmer than it used to be. Hit by rising costs, A box of the Girl Scouts' most popular cookie, Thin Mints, will be 1 ounce lighter. Trefoils and Do-Si-Dos are losing three to four cookies per box. Samoas and Tagalongs have been slimmed down a half-ounce per package by reducing their size by about 1 millimeter. | 02/15/09 15:05:52 By - Anne Danahy

Help wanted: 2010 census takers for the Gulf Coast

The U.S. Census Bureau hopes to hire 75,000 people in Mississippi, Texas and Louisiana to help prepare for and distribute the 2010 census. The jobs will last from six to 18 months and the average pay will be $14.50 an hour, a Census Bureau official said. | 02/15/09 14:19:51 By - Melissa M. Scallan

Report: Green jobs are more resilient in the recession

A report from Washington Employment Security Department says that health care, education and "green" jobs _ including positions focused on finding new solutions for energy needs _ are expected to be the most recession-resistant in 2009. The most vulnerable industries are construction, manufacturing, finance, insurance and retail. | 02/15/09 14:05:14 By - Dave Gallagher

Americans again turn against malefactors of great wealth

Theodore Roosevelt called the robber barons of his day "malefactors of great wealth," and in hard times, "people look for villains," said Michael Kazin, a Georgetown University history professor. "And there's a long tradition in America of big bankers and investors as villains." | 02/15/09 13:29:35 By - Dave Helling

Miami banker gives $60 million of his own to employees

Lots of bosses say they value their employees. Some even mean it. And then there's Leonard Abess Jr. After selling a majority stake in Miami-based City National Bancshares last November, all he did was take $60 million of the proceeds and hand it to his tellers, bookkeepers, clerks, everyone on the payroll | 02/15/09 09:21:01 By - Martha Brannigan

Despite trillions for economy, next job might mean less pay

After ravaging blue-collar and lower-paid workers in the construction, manufacturing and retail sectors, job losses from the "Great Recession" are moving their way up the income ladder into areas such as management, financial and professional business services, where more college grads and higher-earning workers are employed. | 02/15/09 06:00:00 By - Tony Pugh

Obama ready to tap offshore oil, wind power

Just weeks into his presidency, President Barack Obama has moved right past the should-we-drill-offshore question and plunged into a new debate about how best to tap resources on the Outer Continental Shelf. | 02/15/09 06:00:00 By - Barbara Barrett

Business groups dial back the luxuries amid recession

The recession won't stop the Lance Potato Summit, but some participants are paying their own way this year or driving down from headquarters in Charlotte. Firms are dumping hotel gift baskets, downsizing rental cars and foregoing spa visits and other activities. | 02/14/09 20:02:14 By - Josh McCann

State iniatives help slow North Carolina foreclosures

Foreclosure activity plunged across North Carolina last month, far outpacing a national decline as several initiatives helped people hang on to their homes at least a little longer. Statewide, foreclosure filings fell 59 percent compared with January 2008. That was the largest drop in three consecutive months of declines, but it's not a sign the problem has ended. | 02/14/09 19:28:30 By - Stella M. Hopkins

GOP lawmakers tout projects in the stimulus bill they opposed

Rep. John Mica was gushing after the House of Representatives voted Friday to pass the big stimulus plan. "I applaud President Obama's recognition that high-speed rail should be part of America's future," the Florida Republican beamed in a press release. Yet Mica had just joined every other GOP House member in voting against the $787.2 billion economic recovery plan. | 02/14/09 18:37:00 By - David Lightman

Fired to firefighter: A hot job is hard to land

When a local truck manufacturer started a new round of cost-cutting, Paul Weeks took a buyout. Now in his first month of training, Weeks bested 2,000 applicants last year for the opportunity. The odds are even longer this year as the worsening economy pushes firefighter applications to record highs. | 02/14/09 18:10:38 By - Christopher D. Kirkpatrick

California budget woes undermine benefits of stimulus plan

The economic stimulus plan that Congress approved late Friday will shower California with tens of billions of dollars in tax breaks and federal spending, but the state's budget woes will cancel out some of those benefits. | 02/14/09 18:11:06 By - Dale Kasler

Washington's share of stimulus bill could top $7 billion

Washington's share of the $790 billion stimulus bill could easily top $7 billion, lawmakers said Friday, as Congress put the final touches on a measure that created a partisan fissure between Democrats and Republicans in the state's congressional delegation. | 02/13/09 19:24:00 By - Les Blumenthal

California predicted to get $26 billion from stimulus bill

Uncle Sam is ready to deliver $26 billion to California to help the state bolster its shaky finances, according to an early analysis of a compromise agreement released Friday. That's the most of any state in the union. And that number could grow. | 02/13/09 18:49:00 By - Rob Hotakainen

Will $50 billion fix housing? It may be a down payment

President Barack Obama on Wednesday will roll out a plan to attack the trigger of the current global financial crisis: rising U.S. mortgage delinquency and foreclosure rates. | 02/13/09 17:33:00 By - Kevin G. Hall

Computerized medical records: stimulus or socialism?

The $787 billion economic stimulus legislation includes $19 billion to modernize health care information technology systems, a move that's intended to lead to the computerization of all Americans' medical records by 2014. | 02/13/09 17:07:00 By - William Douglas

Three major banks suspending foreclosures for several weeks

Bank of America and two other major banks said today they will suspend foreclosures for several weeks as the federal government works on a plan to help people save their homes. | 02/13/09 17:06:28 By - Stella Hopkins

Economy wrecks car dealers, but car-repair shops cruise

During the ongoing "Great Recession," consumers are patronizing local garages to keep their wheels running longer rather heading to showrooms to replace them. The shift is most dramatic in hard-hit communities in Florida and California, but it also varies by type of repair. Shops that specialize in must-do work, such as brake jobs, are doing better than body shops. | 02/13/09 16:29:00 By - David Coffey

It's done: Congress sends $787 billion stimulus to Obama

The House of Representatives and Senate approved on Friday a $787.2 billion stimulus package designed to provide quick tax relief and create or save 3.5 million jobs. Again, no House Republicans voted for the package, and just three moderate GOP senators joined the Democrats. President Barack Obama is expected to sign it early next week. | 02/13/09 14:31:00 By - David Lightman

House passes stimulus bill on party-line vote

The House of Representatives on Friday voted 246 to 183, almost entirely along party lines, to jolt the nation's struggling economy with a $787.2 billion stimulus package designed to provide quick tax relief and create or save 3.5 million jobs. | 02/13/09 15:00:45 By - David Lightman

The Economic Stimulus bill: Give us your comments

This is the complete text of the massive $789 billion economic stimulus legislation that Congress intends to send to the White House by Monday for President Barack Obama to sign into law. Read the legislation - give us your feedback. | 02/13/09 12:29:36 By -

Recession chips away at golf industry

The golf market has taken a few financial blows lately in the midst of a recession. Myrtle Beach, which is a haven for golf tourism, is feeling the pinch an companies are realigning expectations due to fewer rounds being played on area courses. | 02/13/09 07:48:28 By - Alan Blondin

Stimulus funds could speed up Texas road construction

Federal stimulus money could be used to speed up construction of the proposed Southwest Parkway toll road in Fort Worth – perhaps including construction of a massive Southwest Parkway/Interstate 20 interchange near Hulen Mall beginning in midyear, officials say. | 02/13/09 07:36:42 By - Gordon Dickson

Farmers feeling recession's squeeze

Farmers are feeling the squeeze of the recession from two sides. As prices have risen for feed and fuel, demand has dropped for crops and livestock. | 02/13/09 07:20:58 By - Marti Maguire

Toyota reduces pay, offers buyouts for all North America employees

Toyota announced plans Thursday that would cut the compensation of every one of its manufacturing employees in North America, from top executives to assembly line workers. | 02/13/09 07:13:06 By - Scott Sloan

Hotels feel pinch of lower attendance at Miami International Boat Show

Hotels that are usually filled to capacity for the Miami International Boat Show are reporting the worst occupancy rates in years for this weekend's event. | 02/13/09 07:02:18 By - Douglas Hanks

Alaskans making pitches for piece of stimulus pie

For weeks, Alaskans have been vocal about letting their elected representatives know exactly what it is they want from the $789 billion economic stimulus bill Congress is poised to pass. Many have even traveled to Washington to make their voices heard. | 02/13/09 06:39:31 By - Erika Bolstad

Will the stimulus actually stimulate? Economists say no

The compromise economic stimulus plan agreed to by negotiators from the House of Representatives and the Senate is short on incentives to get consumers spending again and long on social goals that won't stimulate economic activity, according to a range of respected economists. | 02/12/09 18:59:00 By - Kevin G. Hall

Intelligence director: economic crisis top U.S. security threat

The global economic crisis is the largest near-term security threat to the United States, President Obama's national intelligence director told Congress on Thursday, signaling that the new administration is broadening its definition of national security beyond traditional military and homeland security concerns. | 02/12/09 19:05:30 By - Warren P. Strobel

Whether it works or not, stimulus money headed to central CA

San Joaquin Valley college students get a helping hand in the humongous economic stimulus bill now set for congressional approval. | 02/12/09 17:21:00 By - Michael Doyle

Anticipating 2010 Olympics, Washington State border officials build more crossings

With the 2010 Olympics scheduled to start in one year in Vancouver, B.C., federal officials are sticking by their earlier promise to have 10 inspection booths open at the Peace Arch in time for a possible increase in traffic - even though the massive $72 million upgrade of the county's biggest border crossing won't be complete by then. | 02/12/09 12:05:57 By -

Over 800 applicants take test for one job in Tacoma

Over 800 people line up to take a test to become water meter readers in Tacoma, Washington. The only problem? There is only one job opening. | 02/12/09 10:10:12 By - Jason Hagey

Kentucky House OKs tax increase on cigarettes, alcohol

After a 24-hour blitz of heavy-duty lobbying from legislative leaders and the governor, the House approved a package of alcohol and cigarette tax increases to help solve a budget shortfall. | 02/12/09 09:38:05 By - Ryan Alessi

Bank CEOs grilled by Congress over making loans

Eight major banking CEOs tried to assure lawmakers Wednesday that they were lending the taxpayer money they received last fall. But they faced skepticism about whether they were doing enough to help struggling consumers and businesses. | 02/12/09 07:33:34 By - Rick Rothacker, Lisa Zagaroli and Christina Rexrode

N.C. economy won't be fixed by stimulus

The economic stimulus deal could amount to more than 100,000 jobs saved or created in North Carolina, money for transportation projects and modest tax credits to families buying new houses. Still, Gov. Beverly Perdue's office said the package will not take care of the state's $2 billion shortfall, and U.S. Sen. Richard Burr doesn't think it offers enough tax credits to help individuals. | 02/12/09 07:25:41 By - Barbara Barrett

Obama says Alaska gas pipeline is 'project with potential'

President Barack Obama on Wednesday called Alaska's proposed natural gas pipeline "promising" as a national energy resource and pledged to discuss it with Canadian leaders during his Feb. 19 trip to Ottawa. | 02/12/09 06:38:05 By - Erika Bolstad

White House, Congress reach final compromise on stimulus

Congress is now poised to approve a $789 billion economic recovery plan that includes billions of new dollars to help states pay education and health costs as well as tax breaks for new car and homebuyers. | 02/11/09 00:50:00 By - David Lightman

Bank bailout: four months later, and no forward movement

More than four months after the federal government sought $700 billion to get troubled assets off bank balance sheets, there's a new administration that's promising to, yes, get troubled assets off of bank balance sheets. | 02/11/09 19:00:00 By - Kevin G. Hall

Obama backs lending and TARP

President Obama said Wednesday that some skepticism of how the government began its bailout of the banking system might be warranted, but he hoped to win back some public confidence by seeing to it that banks share more of the burden. | 02/11/09 19:23:36 By - Lisa Zagaroli

Obama predicts California will be biggest job producer

WASHINGTON -- President Barack Obama says the best way to judge his economic stimulus plan in the next two years will be whether it creates or saves from 3 million to 4 million jobs. | 02/11/09 18:57:00 By - Rob Hotakainen

Who are the 3 GOP mavericks who hold the key to stimulus?

Two of the renegade Republican senators critical to getting the economic stimulus bill through the Senate — Maine's Olympia Snowe and Susan Collins — represent a state where folks are known for their flinty, thrifty ways. | 02/11/09 15:44:00 By - David Lightman

Wichita's red ink is forcing cuts

Wichita ended 2008 in the red for the first time in five years, and city leaders will slow hiring, delay street projects and reduce part-time staff to make up for the shortfall. "These are troublesome trends, and they carry into 2009," finance director Kelly Carpenter told City Council members Tuesday. | 02/11/09 15:31:34 By - Suzanne Perez Tobias

Cuomo: Merrill Lynch ‘secretly' rushed out bonuses

New York Attorney General Andrew Cuomo said in a letter Tuesday that Merrill Lynch executives secretly rushed out bonuses after Cuomo asked them to disclose their bonus plans. | 02/11/09 14:44:09 By - Christina Rexrode

Cupid goes on floral budget for Valentine's Day

Consumer spending on Valentine’s gifts will decline by $2.3 billion this year, according to the National Retail Federation. Despite that unfavorable forecast, the National Retail Federation says consumer confidence remains high in one Feb. 14 staple — flowers | 02/11/09 14:35:48 By -

Bank of America CEO to discuss responsible use of bailout funds

During testimony on Wednesday before a U.S. House panel, Bank of America CEO Ken Lewis is expected to say his bank is frugal, profitable and ready to account to taxpayers. | 02/11/09 07:38:02 By - Rick Rothacker

Mayor of Key West might lose homes to foreclosure

Key West Mayor Morgan McPherson, a real estate agent and advocate for affordable housing in the island city, now has home woes of his own: Both his primary residence in Key West and a rental property in Rockland Key are in foreclosure. | 02/11/09 07:12:54 By - Cammy Clark

Study indicates fewer women reaching corner offices

Women are stalled in the climb up the corporate ladder. And nowhere is it more clear than in Florida, one of the country's most populous states. | 02/11/09 07:08:22 By - Cindy Krischer Goodman

Two Sacramento banks not lending in spite of federal funds

Executives at the two Sacramento, Calif., banks that have received shots of federal capital say the money isn't likely to spur much new lending, at least until the economy begins to recover. | 02/11/09 07:02:03 By - Jim Downing

Its senators voted no, but S.C. will get billions from stimulus

The Senate on Tuesday passed an $838 billion economic-stimulus bill demanded by President Barack Obama despite opposition from Sens. Lindsey Graham, Jim DeMint and all but three other Republican senators. | 02/10/09 20:03:27 By - James Rosen

Small towns vie for their part of the stimulus

R. Lee Myers has been mayor of Matthews, N.C., for 18 years now, and never thought the town of 26,000 would need a lobbyist. That was before $800 billion or more of economic stimulus began sloshing around Washington without any certain avenue for bringing a piece of it back home. | 02/10/09 19:26:49 By - Lisa Zagaroli

New bank bailout fails to address core economic problems

The financial rescue plan unveiled Tuesday offers important moves to spur consumer lending, experts said, but it fails to answer key questions about how it would attack fundamental causes of the deepening economic crisis. | 02/10/09 18:50:00 By - Kevin G. Hall

Schwarzenegger to send layoff warnings to 20,000 workers

Gov. Arnold Schwarzenegger will send layoff warnings to at least 20,000 state workers Friday unless he reaches a budget agreement with legislative leaders that precludes the need for such cuts, his office announced Tuesday. | 02/10/09 18:21:29 By - Kevin Yamamura

Goodwill stores pull clothes, toys from shelves to comply with lead safety law

Local Goodwill stores will no longer sell many children's clothes, toys and other items, citing liability concerns over new federal safety regulations that take effect today | 02/10/09 17:14:46 By - Suzanne Perez Tobias

Will it work this time? Geithner hits reboot on bank bailout

Treasury Secretary Timothy Geithner on Tuesday rolled out bank-rescue plan version 2.0, hoping to restore vigor to the banking sector and create a wave of new lending to reverse the nation's deep economic slump. | 02/10/09 16:10:00 By - Kevin G. Hall

California in-home care program thrust into budget debate

California's In-Home Supportive Services program, which pays caregivers of seniors such as Heydenryk or disabled people, is the state's fastest growing social service program. Its costs reached nearly $1.7 billion this year – a distinction that put it squarely in the middle of the battle over California's budget crisis. | 02/10/09 15:33:56 By - Susan Ferriss

Muzak files for Chapter 11 bankruptcy protection

Muzak Holdings LLC, the Fort Mill, S.C. provider of background music to businesses, today announced it has filed for Chapter 11 bankruptcy protection so it can restructure its debt. | 02/10/09 15:26:39 By - Adam Bell

Obama promises Florida residents job creation, mortgage help

President Barack Obama promised the No. 1 priority of his economic stimulus plan is job creation, while speaking with Florida residents on Tuesday. Obama chose Lee County as one place to talk with residents about the economic plan because the county's unemployment has jumped to 10 percent and its foreclosure rate leads the state. | 02/10/09 14:05:06 By - Evan S. Benn

Despite the election, stimulus talks still hinge on GOP

The three Republican mavericks — Maine's Olympia Snowe and Susan Collins and Pennsylvania's Arlen Specter — are vital to reaching any compromise. Their votes on final passage of any compromise are seen as fragile but crucial, since Democrats control 58 Senate seats and need 60 to cut off debate and to pass any measure that expands the federal deficit. | 02/10/09 00:42:00 By - David Lightman

Florida ranch hand saddles up to search for work

A laid-off Arcadia, Fla., ranch hand has set out with her horses for Ocala in search of work. On Monday, she traveled through Manatee, Fla., on the job trail. | 02/10/09 12:52:10 By - Donna Wright

Treasury outlines bank rescue plan, but Wall Street frowns

Treasury Secretary Timothy Geithner unveiled a new plan Tuesday to revive the struggling banking sector, thaw the credit markets, spark more lending to consumers and reverse a nationwide housing slump. Financial markets registered disappointment that the new plan lacked many key details. The Dow Jones Industrial Average was down 381.99 points Tuesday to 7888.88. | 02/10/09 11:12:00 By - Kevin G. Hall

Bank of America layoffs continue

Bank of America employees say co-workers are being let go with little warning, with work unfinished, and it's unclear where it will all end. | 02/10/09 07:39:43 By - Christina Rexrode and Rick Rothacker

Some Kansas City gas pumps running dry

Financial problems for Cresent Oil Co. Inc. are being felt by many Kansas City area gas station, which have been running out of gas and having problems accepting credit cards. The Independence, Kan.-based company supplies 340 stations in six states, including dozens of stations in the Kansas City area. Fuel retailers have been scrambling in recent days to replace Crescent with fresh sources of supply. | 02/10/09 07:06:14 By - Steve Everly and Joyce Smith

Florida county wants 'disaster' status over economic woes

With unoccupied homes and families in distress, a St. Lucie County leader wants to declare a state of emergency to release $17.5 million in reserve funds. Port St. Lucie, once the fastest-growing city in the country, is now pockmarked by more than 10,000 properties in foreclosure and drained by a 10.5 percent unemployment rate. | 02/10/09 06:46:25 By - Audra D.S. Burch

Obama visiting the center of Florida's economic descent

When President Barack Obama arrives today to push his economic stimulus plan in Republican-heavy Lee County, he will be at the epicenter of Florida's broken economy. Residents say they hope the president can turn the economy around and they're a little embarrassed he chose their town – which may be ground zero for Florida's economic woes. | 02/10/09 06:34:24 By - Evan S. Benn

Mayors' stimulus list includes surprises — to their cities

As Congress scrambles to pass a federal stimulus package, government leaders across South Florida are keeping a watchful eye -- after all, billions of dollars in local infrastructure projects are at stake. | 02/09/09 12:16:19 By - Michael Vasquez

Where'd all that money go? Bank execs testify Wednesday

The nation's largest banks, battling an image of jet-setting executives with multimillion-dollar salaries, will face tough scrutiny on Wednesday from lawmakers who are struggling to understand the financial health of the institutions and the impact of a $700 billion taxpayer bailout. | 02/09/09 19:42:00 By - Lisa Zagaroli

Will Treasury's new bailout be better than the first one?

Treasury Secretary Timothy Geithner rolls out the Obama administration's bank-rescue plan on Tuesday, hoping to restore vigor to the banking sector and create a wave of new lending to reverse the nation's deep economic slump. | 02/09/09 18:37:00 By - Kevin G. Hall

Economist has fix for global crisis: invest in poor nations

The World Bank's chief economist on Monday proposed an alternative approach to digging the world out of the financial crisis, saying that the United States, China and other countries should invest in the development of poor nations, because eventually those countries would become customers. | 02/09/09 18:40:00 By - Renee Schoof

Today marks a new day for government's role in economy

The Senate's likely approval of an $838 billion economic-stimulus plan Tuesday will signal a decisive new expansion of the government's role in the economy. The package will include tens of billions of dollars to help states pay for health-care, education and highways. It will help to computerize health records and invest heavily in 21st-century renewable energy technology. But it won't be an immediate economic cure-all. | 02/09/09 17:52:00 By - David Lightman

Airlines improve on-time performance; American ranks last

Major airlines did a slightly better job of operating flights on time last year, despite holiday storms and inspection woes that grounded hundreds of jets. But American Airlines ranked last, according to data released today by the Department of Transportation. | 02/09/09 16:03:35 By - Trebor Banstetter

Obama calls for swift action on 'economic emergency'

"The federal government is the only entity left with the resources to jolt our economy back to life," President Barack Obama said in a nationally televised prime-time White House news conference. He implored Congress to pass his $820 billion economic stimulus program. | 02/09/09 14:58:00 By - Steven Thomma and Margaret Talev

Not all is doom and gloom when it comes Mississippi's MARDI GRA$

The economy might not be anything to celebrate, but the Mardi Gras show must go on. That’s the consensus of some business owners who benefit from Carnival season parades, balls and parties. | 02/09/09 14:16:31 By - Tammy Smith

Pawn shops get busier during a recession

Charlie Bell knows the stories of many of his customers at Port Royal Gun and Pawn -- from the wealthy man who plunks down a gold Rolex to get $2,000 for a gambling trip to Las Vegas, to the young military wife looking for $50 to buy groceries for her children. | 02/09/09 14:09:58 By - Marti Covington

Boat show hoping for best despite economy

Like cars and homes, purchases of pleasure boats have been slammed by the recession. Many retailers report sales down nearly 35 percent in some sectors, including power boats and outboard boats longer than 17 feet. So as this year's Miami International Boat Show opens this week, vendors say they are doing what they can to offset customer worries and rethink their sales pitches. | 02/09/09 07:34:45 By - Hilary Lehman

Demand for recycling up but prices are down

As the economy nosedived last fall, the global recycling markets went into a free fall, too. Some recycling centers have closed, others are endangered, and weekly curbside recycling is threatened in several cities. Fees you pay could be going up, too. | 02/09/09 07:14:24 By - Karen Dillon and Finn Bullers

Job-seekers gather for support, motivation

As unemployment rates rise, local professionals in Charlotte are getting together to share leads, tips and support. | 02/09/09 07:07:44 By - Kirsten Valle

Think tank to discuss North Carolina's infrastructure needs

People continue to pour into North Carolina – an estimated 21 new people settle in the state every hour. Which is why leaders from business, government and other fields are scheduled to gather in downtown Raleigh this week for two days of discussion about how to provide the schools, roads, wiring, water supplies and basic plumbing for a growing state. | 02/09/09 06:55:47 By - Rob Christensen

School offers fast track to air traffic control jobs

Link Simulation and Training, an Arlington-based defense and aerospace contractor, has opened an air traffic controller training academy at the North Texas Regional Airport outside Denison. Facing a wave of retirements, the FAA expects to hire 17,000 controllers over the next decade to keep the nation's air travel system flowing. | 02/09/09 06:35:09 By - Bob Cox

Obama officials delay bank bailout announcement

The Obama administration on Sunday postponed the announcement of its new bank rescue plan so that it could concentrate on pushing passage of economic stimulus legislation in Congress. The plan was to have been unveiled Monday. | 02/08/09 18:15:00 By - Kevin G. Hall

At nation's container ports, economy takes its toll on workers

Longshoremen, among the nation's highest paid blue-collar workers, can earn $100,000 a year with overtime. But at the Port of Virginia, Keith Clark thinks he'll be lucky to make $20,000 this year. More worrisome, he may not work the 1,300 hours required to keep his health insurance. Last week, he only worked four. | 02/08/09 17:26:00 By - Tony Pugh

Senate Dems will have just enough votes to pass stimulus

The Senate plans to take a final vote on its $827 billion economic stimulus package at noon Tuesday, as angry Republicans joined pleased Democrats in extended debate on the plan Saturday. Senators will vote on cutting off that debate Monday evening. Sixty votes are needed, and the Democrats expect to have them. | 02/07/09 13:29:00 By - David Lightman

Jobless numbers soared in January at worst rate since '74

Worse-than-expected January job losses announced by the government Friday put pressure on the Obama administration and Congress to pass economic stimulus legislation quickly and move on to tackle the banking and housing crises, which are fueling the rapidly worsening contraction of the nation's economy. | 02/06/09 00:33:00 By - Kevin G. Hall

Schools deal with homeless students

Ever since Lorie Ross and her family moved from Davie to Port St. Lucie last month, her oldest daughters have risen before dawn each day so their father could drive them 90 miles south to their old school. | 02/06/09 07:03:56 By - NIRVI SHAH

Charlotte's spending cuts will be tough to miss

Charlotte city departments will cut $10 million in expenses to make up for a decline in sales tax and user fees – and to protect against further economic decline. The cuts also help cover increases in the fire and police department budgets. | 02/06/09 06:57:57 By - Julia Oliver