Keyword: wgids

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  • Shooting at local light rail station, Richardson TX

    02/07/2012 6:55:29 PM PST · by West Texas Chuck · 13 replies
    Shooting at DART Arapaho station, two dead so far including the perp.
  • High-speed rail, the third-fastest way to Chicago!

    01/18/2012 7:48:57 PM PST · by WOBBLY BOB · 39 replies
    pioneer press ^ | 1-18-12 | joe soucheray
    E.R. Companion, of Eagan, writing to the editor in Sunday's Pioneer Press, wondered why our elected officials would commit to spending billions of dollars for a so-called high-speed rail line from the Twin Cities to Chicago. (Well, because they're nuts.) Companion was referring to a story that appeared Jan. 12 featuring the idea that the Minnesota Department of Transportation has begun studying environmental impacts along the 400-mile route, which would take passengers to Chicago, through Milwaukee, in an advertised five hours and 30 minutes. Companion wondered what was high-speed about that, and I could not agree more with his sentiment....
  • Plans For High-Speed Rail Are Slowing Down [Obama's $10B Train Wreck: High Speed Rail Grounded!]

    01/15/2012 10:40:51 PM PST · by Steelfish · 34 replies
    Washington Post ^ | January 15, 2012 | Michael A. Fletcher
    Plans For High-Speed Rail Are Slowing Down President Obama set a goal of giving 80 percent of Americans access to high-speed rail within the next quarter century. Here’s a look at the high-speed rail industry around the world. By Michael A. Fletcher January 15 PALO ALTO, Calif. — Critics began panning the first leg of California’s futuristic high-speed rail network as a “train to nowhere” soon after officials decided to build it not in the major population centers of Los Angeles or San Francisco, but through the state’s Central Valley farming belt. Since then, things have only gotten worse. Spiraling...
  • High-speed rail: A £250m lesson for Britain's rail enthusiasts

    01/09/2012 3:21:10 AM PST · by BfloGuy · 30 replies
    The Telegraph ^ | 1/7/2012 | Andrew Gilligan
    As the Government prepares to give the go-ahead to its hugely controversial high-speed train project, its closest equivalent in Europe has had to be saved from bankruptcy with a £250 million government bailout. The new “Fyra” high-speed service in the Netherlands — opened just two years ago — is close to financial collapse with passengers shunning its premium fares and trains running up to 85 per cent empty. The line, between Amsterdam, Rotterdam and Breda, cost taxpayers more than £7 billion to build but is losing £320,000 a day amid disastrous levels of patronage. A Dutch passenger pressure group, Voor...
  • Death of man struck by train leads to 'bizarre' civil case (Injury by flying body parts!)

    12/29/2011 11:28:30 AM PST · by CedarDave · 48 replies · 1+ views
    The Chicago Tribune ^ | December 29, 2011 | Steve Schmadeke
    Ruling in what it called a "tragically bizarre" case, an appeals court found that the estate of a man killed by a train while crossing the Edgebrook [Illinois] Metra station tracks can be held liable after a part of his body sent airborne by the collision struck and injured a bystander. In 2008, Hiroyuki Joho, 18, was hurrying in pouring rain with an umbrella over his head, trying to catch an inbound Metra train due to arrive in about five minutes when he was struck by a southbound Amtrak train traveling more than 70 mph. A large portion of his...
  • High-Speed Rail Project in California Under Scrutiny

    12/23/2011 10:37:50 PM PST · by Steelfish · 36 replies
    FoxNews ^ | December 23, 2011 | William Lajeunesse
    High-Speed Rail Project in California Under Scrutiny By William Lajeunesse December 23, 2011 The Obama administration's plans for a bullet train could be headed off the tracks in California, the one state where its high-speed rail initiative is still alive. Since the project was first unveiled in 2008, officials tripled its projected cost, delayed its start of service 13 years, downsized ridership projections and increased ticket prices. Almost two-thirds of Californians now say they'd vote against issuing bonds to pay for a project they narrowly approved just three years ago. "It is not viable. It is not the best use...
  • Train-hopping couple buried alive under coal

    12/16/2011 11:15:06 AM PST · by DemforBush · 65 replies
    Yahoo ^ | 12/16/11 | Eric Pfeiffer
    A young couple hopping railroad cars across the country was found dead under a mound of coal at a Florida power plant. Christopher Artes, 25, and Medeana Hendershot, 22, shared a passion for illegally hopping freight trains and traveling the country without a set plan...
  • California bullet train funding slashed by House panel

    09/09/2011 3:05:53 PM PDT · by NormsRevenge · 18 replies
    Los Angeles Times ^ | 9/9/11 | Ralph Vartabedian
    The fortunes of California's high-speed rail project, which would connect Southern California to the Bay Area with a 220mph train, took a big financial hit Thursday afternoon, when a congressional panel slashed the Federal Railroad Administration budget. The Obama administration had asked for $8 billion for fiscal 2012 for high-speed rail projects, including the one in California, as well as other passenger rail programs around the country. But the House Appropriations subcommittee on Transportation, Housing and Urban Development on Thursday cut the request by nearly $7 billion, leaving money only to operate Amtrak and some smaller programs. House Republican leaders...
  • Beijing-Shanghai hi-speed rail malfunctions in first 10 days

    07/11/2011 2:23:56 AM PDT · by AfricanChristian · 14 replies · 1+ views
    After running for only 10 days, the Beijing-Shanghai High-speed Railway has encountered its first operational malfunction as a result of outage. According to the official Weibo of "Beijing Railway," a breakdown occurred at 6 p. m. on July 10 at the contact network of the Qufu-Tengzhou-Zaozhuang rail line section due to stormy weather, which prevented 19 trains from arriving on time. The railway department responded immediately to the accident and took a series of emergency measures. The operation of the high-speed rail returned to normal at 7:37 p.m. Acknowledged by multiple news sources, it was the bad weather that shut...
  • Intel from bin Laden compound shows al-Qaeda plotted against U.S. rail system

    06/24/2011 12:32:59 AM PDT · by Cindy · 7 replies
    SNIPPET: "WASHINGTON – Some of the first information gleaned from Osama bin Laden's compound indicates al-Qaida considered attacking U.S. trains on the upcoming anniversary of the Sept. 11 attacks. But counterterrorism officials say they believe the planning never got beyond the initial phase and have no recent intelligence pointing to an active plot for such an attack. As of February 2010, the terror organization was considering plans to attack the U.S. on the 10th anniversary of the 9/11 attacks. One idea outlined in handwritten notes was to tamper with an unspecified U.S. rail track so that a train would fall...
  • Police Investigate Car Part Thefts Along SEPTA Regional Rail Lines

    06/21/2011 10:53:55 AM PDT · by AngelesCrestHighway · 33 replies
    CBS ^ | 06/20/11
    If you “park and ride” along SEPTA Regional Rail lines, it could be a much more expensive trip than you expected. An exclusive CBS 3 I-Team investigation reveals that since March 12th, riders have had catalytic converters, a pollution control device, stolen from beneath their vehicles.
  • Oregon: Study Finds Light Rail System Rarely Used

    05/17/2011 11:42:32 AM PDT · by Qbert · 79 replies
    The Truth About Cars ^ | May 17, 2011 | The
    A study released earlier this month by the Cascade Policy Institute questioned whether pricey mass transit options in Portland, Oregon are really being used by the public. The city has been a leader in securing funding for various forms of passenger rail and trolley systems. The Obama administration, for example, pledged $745 million in federal gas tax dollars to pay for the construction of a $1.5 billion, 7.3 mile light rail project connecting Portland to Milwaukie. Transportation Secretary Ray LaHood has singled out the city’s priorities as for praise. “By adding innovative transit opportunities, Portland has become a model livable...
  • RTA fire sends dozen to hospital, closes Cleveland tracks

    08/06/2010 11:45:52 AM PDT · by neefer · 13 replies
    WEWS ^ | 8/6/2010 | WEWS News Staff
    CLEVELAND - UPDATE: All RTA trains are running again after a train fire injured about 15 people and shut down trains between the Triskett Station and East 55th Street. Passengers on the red line could still expect delays lasting until later Friday afternoon. The incident occurred Friday on a Regional Transit Authority train car. A spokeswoman for RTA said there were about 75 people on the train when the fire broke out just after noon at West 65th Street and Lorain Avenue. Those injured were transported to local hospitals with minor injuries, she said. RTA does not know how the...
  • High-Speed Fail ( trains )

    08/05/2010 10:30:03 PM PDT · by george76 · 33 replies
    Cato Institute ^ | • August 24, 2009 | Randal O'Toole
    The truth is that high-speed rail doesn’t work in Europe or Asia either. Japan and France have both spent about as much on high-speed rail as they have on their intercity freeway systems, yet the average residents of those countries travel by car 10 to 20 times as much as they travel by high-speed rail. They also fly domestically more than they take high-speed rail. While the highways and airlines pay for themselves out of gas taxes and other user fees, high-speed rail is heavily subsidized and serves only a tiny urban elite. Obama uses the fact that France, Japan,...
  • A Rail Boondoggle, Moving at High Speed

    08/05/2010 11:00:03 AM PDT · by george76 · 36 replies
    The Washington Post ^ | August 24, 2009 | Robert J. Samuelson
    The Obama administration's enthusiasm for high-speed rail is a dispiriting example of government's inability to learn from past mistakes. Since 1971, the federal government has poured almost $35 billion in subsidies into Amtrak with few public benefits. At most, we've gotten negligible reductions -- invisible and statistically insignificant -- in congestion, oil use or greenhouse gases. What's mainly being provided is subsidized transportation for a small sliver of the population. In a country where 140 million people go to work every day, Amtrak has 78,000 daily passengers. A typical trip is subsidized by about $50. Given this, you'd think even...
  • AMTRAK IS OFF The Rails, Using Tax Dollars to Promote Travel to Homosexual Community

    08/01/2010 4:00:41 AM PDT · by geraldmcg · 39 replies · 3+ views
    WebToday ^ | 08-01-10 | WebToday
    The Family Research Council has leveled strong criticism against plans by Amtrak for the passenger train service to use tax dollars to promote travel to lesbian, gay, bisexual and transgendered passengers. Amtrak plans to spend a quarter-million dollars recruiting homosexual passengers. The Family Research Council points out Amtrak isn't a private business, and this government-run business is now spending 250-thousand dollars taken directly from the pockets of taxpayers, during these difficult economic times. Spokesman Peter Sprigg points out that this is further proof the Obama Administration has gone OFF THE RAILS by allowing Amtrak to spend this money, insulting the...
  • Michigan Should Heed Greece's Experience With Light Rail

    07/27/2010 6:33:59 AM PDT · by MichCapCon · 24 replies · 4+ views
    Michigan Capitol Confidential ^ | 7/24/2010 | Russ Harding
    Michigan leaders who are enamored with building new light-rail passenger lines should look to Greece's experience with its railway system. The New York Times reports that Greece's Hellenic Railways is bleeding red ink at a rate of $3.8 million per day. The total debt of the Greek railway system has increased to $13 billion, or roughly 5 percent of Greece's gross domestic product. Greek government officials who are interested in selling a stake in the state railway system may have difficulty finding a buyer - the Greek rail system pays three times as much for interest payments on its debt...
  • US stock futures pare losses after private sector adds, rather than loses, jobs in May

    06/04/2008 5:53:53 AM PDT · by Brilliant · 9 replies · 155+ views
    AP via Yahoo! ^ | June 4, 2008 | Tim Paradis
    U.S. stock futures are pulling off their lows as an employment reading shows that the private sector added jobs last month. The ADP National Employment Report arriving Wednesday shows that the private sector added 40,000 jobs in May, rather than declined by 60,000 as economists had been expecting, according to Dow Jones Newswires. Dow Jones industrial average futures are down 20, or 0.16 percent, at 12,384, off their earlier lows.
  • Economic growth revised up in first quarter (NO RECESSION!)

    05/29/2008 6:02:21 AM PDT · by tobyhill · 12 replies · 172+ views
    MSNBC ^ | 5/29/2008 | ap
    WASHINGTON - The economy plodded ahead at a 0.9 percent pace in the first quarter — slightly better than first estimated — but still underscoring caution on the part of consumers and businesses walloped by housing, credit and financial problems. The new reading on gross domestic product, released by the Commerce Department on Thursday, was an improvement from the government’s initial growth estimate for the January-to-March quarter as well as the economy’s performance in the final quarter of last year. Both periods were pegged at a 0.6 percent growth rate. Gross domestic product, or GDP, measures the value of all...
  • Home sales unexpectedly rise in April (Another Blow to the Recession LIE)

    05/27/2008 9:16:39 AM PDT · by NYC Republican · 15 replies · 202+ views
    AP ^ | 5/27/08 | MARTIN CRUTSINGER
    Sales of new homes rose in April for the first time in six months although the unexpected increase still left activity near the lowest level in 17 years. ADVERTISEMENT The Commerce Department reported Tuesday that sales of new homes rose 3.3 percent in April to a seasonally adjusted annual rate of 526,000 units. But the government revised March activity lower to show an even bigger drop of 11 percent to an annual rate of 509,000, which was the weakest pace for sales since April 1991. Economists believe that new home sales will remain weak for some time as the housing...
  • Housing posts big rebound in April WE'RE DOOMED!!

    05/17/2008 4:31:23 AM PDT · by expat_panama · 82 replies · 237+ views
    The Washington Times ^ | May 17, 2008 | Martin Crutsinger
    ASSOCIATED PRESS - Construction of new homes posted the biggest increase in more than two years in April. While it was a rare bit of good news for the housing market, analysts said it's far too soon to declare an end to the extensive slump. The Commerce Department reported yesterday that housing construction rose by 8.2 percent in April to a seasonally adjusted annual rate of 1.03 million units. Building of single-family homes continued to weaken, however. The growth came from a big jump in apartment construction. Analysts predicted the surprising rebound in April would be temporary given the headwinds...
  • New home construction rises in April

    05/16/2008 5:46:29 AM PDT · by abb · 32 replies · 211+ views
    CNNMoney ^ | May 16, 2008 | Staff
    Initial construction of U.S. homes rose unexpectedly in April, according to a government report released Friday. Privately owned housing starts rose to a seasonally adjusted annual rate of 1,032,000 in April, according to the Commerce Department. The rate was up 8.2% from March's revised reading of 954,000 but 30.6% lower than April of 2007. Economists were expecting housing starts to decline to 940,000, according to consensus estimates compiled by Construction of new single-family homes, however, was at a rate of 692,000 in April, or 1.7% below March's number. That is the lowest reading of that measure since January 1991....
  • Steinbeck’s grapes lack wrath this time around (Where's the US's Great Depression?)

    05/06/2008 7:52:57 AM PDT · by Obadiah · 9 replies · 216+ views
    The Times ^ | 5/6/08 | Gerard Baker
    Whatever happened to the Great Depression? Not the real one from 70 years ago, the lost decade of unimagined misery and Steinbeckian angst, the worst period in the history of modern capitalism. I mean the replay we were promised this year. The one we were told was the inevitable counterpart to the greatest financial crisis since a couple of medieval Italians first sat down on a Florentine bench and invented the word “bank”. I don’t know about you but I feel a bit cheated. There we all were, led to believe by so many commentators that the sub-prime crisis was...
  • Economy shows resilience; jobless rate falls as dollar rises

    05/02/2008 8:19:07 PM PDT · by BenLurkin · 10 replies · 92+ views
    AP ^ | Friday May 2, 4:42 pm ET | Jeannine Aversa,
    WASHINGTON (AP) -- The economy showed off unexpected signs of resilience Friday as job losses slowed, the dollar gained a bit of muscle for a change and there were even indications that food prices may be easing. The unemployment rate dipped, though that may not last. The latest barometers flashed encouraging signs that the economic slowdown may not be as pronounced as some had feared. Still, there's much caution -- about housing, credit and other problems. "Economic or financial conditions could take an unexpected stumble at any time," warned Stephen Stanley, chief economist at RBS Greenwich Capital. Employers eliminated 20,000...
  • Unemployment rate falls to 5% (CNN Ticker)

    05/02/2008 5:35:46 AM PDT · by abb · 130 replies · 437+ views
    CNNMoney ^ | May 2, 2008 | Staff
    Employers trimmed a less-than-expected 20,000 jobs in April, marking the 4th straight month of losses; unemployment falls to 5%.
  • Spending surge eases worries of "recession"

    12/22/2007 12:45:45 AM PST · by JohnHuang2 · 28 replies · 142+ views
    Washington Times ^ | December 22, 2007 | By Martin Crutsinger
    Consumers put aside worries about slumping home sales and soaring gasoline prices and headed to the malls last month, pushing spending up by the largest amount in 3½ years. The better-than-expected surge lessened fears of an imminent recession. The Commerce Department reported yesterday that consumer spending shot up 1.1 percent last month, nearly triple October's gain. It was the biggest one-month jump since a 1.2 percent rise in May 2004 and was significantly higher than the 0.7 percent gain analysts had expected. Incomes were also up last month, but the 0.4 percent increase was far below the rise in spending....
  • Stocks Open Higher on Merrill Report ( +130 in early trading)

    12/21/2007 6:59:26 AM PST · by Perdogg · 6 replies · 159+ views ^ | 12.21.07 | By Tim Paradis, AP Business Writer
    Stocks opened higher Friday following a better-than-expected rise in profits at Research in Motion Ltd. and on word that Merrill Lynch might have lined up a big cash infusion from a Singapore fund. Research in Motion said late Thursday its fiscal third-quarter profit more than doubled on strong demand for its BlackBerry smart phones. The results gave Wall Street hope that the technology sector has further to climb and that consumers and businesses are still spending.
  • Commerce Secretary Gutierrez Praises Robust Third Quarter GDP Growth (4.9% !? We`re Doomed!)

    12/20/2007 9:24:33 AM PST · by Para-Ord.45 · 15 replies · 330+ views ^ | 11/29/07 | OFFICE OF PUBLIC AFFAIRS
    Commerce Secretary Carlos M. Gutierrez today released the following statement on the revised third quarter real gross domestic product (GDP) report, which showed that the American economy grew at 4.9 percent in the third quarter of 2007, the highest rate of GDP growth in four years: “In the face of real challenges, our resilient economy has now experienced six years of uninterrupted growth. As the holiday shopping season begins, I am pleased with today’s strong GDP report, coupled with the 1.68 million jobs added over the past year and low unemployment. President Bush’s pro-growth policies are moving our economy forward....
  • Solid Job Gains, Wage Growth in Nov.

    12/07/2007 6:12:32 AM PST · by Toddsterpatriot · 20 replies · 102+ views
    Yahoo! Finance ^ | December 7, 2007 | Jeannine Aversa
    Employers Boost Payrolls by 94,000; Jobless Rate Holds Steady at 4.7 Percent WASHINGTON (AP) -- Employers added a solid 94,000 jobs to their payrolls in November, the unemployment rate held steady at 4.7 percent and wages grew briskly, encouraging signs the nation's employment climate is holding up in the face of turbulence in the housing and credit markets. The fresh snapshot of the labor market, released by the Labor Department on Friday, showed that hiring was brisk in education and health services, retail, professional services, the government and elsewhere. That helped to offset job losses in construction, manufacturing and financial...
  • Economy Grew 4.9% in 3rd Quarter, Up From Previous Estimate of 3.9%

    11/29/2007 6:32:25 AM PST · by Sub-Driver · 49 replies · 180+ views
    Economy Grew 4.9% in 3rd Quarter, Up From Previous Estimate of 3.9% By JEFF BATER November 29, 2007 9:06 a.m. WASHINGTON -- The U.S. economy soared last summer, growing at a rate much stronger than earlier estimated, but the earnings of companies were flat, the government reported Thursday. Gross domestic product rose at a 4.9% annual rate July through September, the fastest quarterly pace since 7.5% in third-quarter 2003, the Commerce Department said. The new, 4.9% estimate for third-quarter 2007 GDP reflected a revision up from a previously reported 3.9% increase. Higher inventories and exports were behind the government's revision...
  • Stocks Jump As Rate Cut Hopes Increase (Dow up 335, NASD up 80)

    11/28/2007 12:14:44 PM PST · by rightinthemiddle · 83 replies · 91+ views
    AP?YodleWho! ^ | Wednesday November 28, 2:57 pm ET | By Madlen Read, AP Business Writer
    Wall Street Has 2nd Straight Rally on Rate Cut Hopes, Signs That Financials Are Finding Cash NEW YORK (AP) -- Wall Street barreled higher Wednesday for the second day in a row, propelling the Dow Jones industrials up more than 300 points after a Federal Reserve official hinted that the central bank may lower interest rates again. Investors' renewed hopes for a rate cut added to their relief that companies that made losing bets on subprime mortgages, such as Citigroup Inc. and Freddie Mac, are coming up with ways to raise cash. Early Wednesday, Fed Vice Chairman Donald Kohn told...
  • Retailers cheer initial holiday sales(Where`s the Crash!?/sarcoff)

    11/26/2007 8:48:59 AM PST · by Para-Ord.45 · 27 replies · 72+ views ^ | November 24 2007 | AP
    Retailers cheer initial holiday sales Research group and Penney both say weekend results have started off strong. The nation's retailers had a robust start to the holiday shopping season, according to results announced Saturday by a national research group that tracks sales at retail outlets across the country. According to ShopperTrak RCT Corp., which tracks sales at more than 50,000 retail outlets, total sales rose 8.3 percent to about $10.3 billion on Friday, the day after Thanksgiving...
  • Asian Stocks Flying: Strong US Retail Sales Mentioned

    11/25/2007 8:46:03 PM PST · by Professional · 71 replies · 184+ views
    China up over 4%, Japan up 2.4%. Pretty sure this was unexpected, looks like retail sales during the w/e were much higher than expected, up about 8%, with online purchases up 22%. Back to the Bull!
  • Retailers Post Robust Start to Holidays

    11/24/2007 8:33:38 PM PST · by ECM · 17 replies · 158+ views
    AP via MyWay ^ | Nov 24, 10:32 PM (ET) | ANNE D'INNOCENZIO
    NEW YORK (AP) - The nation's retailers had a robust start to the holiday shopping season, according to results announced Saturday by a national research group that tracks sales at retail outlets across the country. According to ShopperTrak RCT Corp., which tracks sales at more than 50,000 retail outlets, total sales rose 8.3 percent to about $10.3 billion on Friday, the day after Thanksgiving, compared with $9.5 billion on the same day a year ago. ShopperTrak had expected an increase of no more than 4 percent to 5 percent. "This is a really strong number. ... You can't have a...
  • Wal-Mart profit up, expects good holiday (Stocks rally, oil drops; Dow up 300 plus)

    11/13/2007 12:52:36 PM PST · by NormsRevenge · 35 replies · 244+ views
    AP on Yahoo ^ | 11/13/07 | Marcus Kabel - ap
    BENTONVILLE, Ark. - A year after its worst holiday sales season ever, Wal-Mart Stores Inc. may rebound to have a good season after finding the right mix of merchandise and marketing to complement its return to a focus on low prices. A whiff of this already showed up when the nation's largest retailer posted third-quarter earnings Tuesday of $2.86 billion, an 8 percent rise that beat Wall Street expectations. The company earned 70 cents per share, up from 62 cents per share in the same period a year ago. The 70 cents includes an after-tax gain equal to 1 cent...
  • Productivity Surges by 4.9 Percent Rate(Fastest Pace in 4 Years)

    11/07/2007 6:52:23 AM PST · by Toddsterpatriot · 40 replies · 53+ views
    Yahoo! Finance ^ | November 7, 2007 | Martin Crutsinger
    WASHINGTON (AP) -- Worker productivity surged in the summer at the fastest pace in four years while wage pressures eased. The Labor Department reported that productivity -- the amount of output per hour of work -- jumped at an annual rate of 4.9 percent in the July-September quarter. That was double the 2.2 percent rise in the second quarter and represented the fastest surge in worker efficiency since 2003. At the same time, wage pressures eased with unit labor costs dropping at an annual rate of 0.2 percent, the best showing in more than a year. Both outcomes were far...
  • Bullish Data Tell The Real Story: Despite Gloom, More Bush Boom

    11/01/2007 5:41:25 PM PDT · by Kaslin · 23 replies · 89+ views
    IBD ^ | November 1, 2007 | Lawrence Kudlow
    If things are so bad, why are they so good? With all the gloom coming out of Wall Street, the Democrats on the campaign trail and the mainstream media, a remarkable thing just happened: Real gross domestic product, the best summary report of the American economy, came in at a breathtaking 3.9% annual rate for the third quarter. In fact, following the 3.8% growth rate for the second quarter, the U.S. economy has posted its strongest quarterly growth in four years. The economy actually appears to be speeding up, following the relatively sluggish performance of the prior 18 months. On...
  • Economy Logs Brisk 3.9 Percent Growth (Best Performance in 1 1/2 Years)

    10/31/2007 5:50:09 AM PDT · by Brilliant · 116 replies · 148+ views
    AP via Yahoo! ^ | 10/31/07 | Jeannine Aversa
    WASHINGTON (AP) -- The economy picked up speed in the summer, growing at a brisk 3.9 percent pace, the fastest in 1 1/2 years and an impressive performance even as a credit crunch plunged the housing market deeper into turmoil. The latest snapshot of the country's economic health, released by the Commerce Department on Wednesday, suggested that the economy is demonstrating much resilience and thus far holding up well to the strains in the housing and credit markets, which had intensified during the third quarter and rocked Wall Street. Individuals ratcheted up their spending. U.S. businesses sold more goods abroad...
  • Retail sales post strong gain in September, led by demand for autos

    10/12/2007 6:35:07 AM PDT · by Lazamataz · 17 replies · 327+ views
    WASHINGTON - Retail sales posted a stronger-than-expected gain in September as a big jump in auto sales helped offset weak demand for clothing. The Commerce Department reported Friday that retail sales increased 0.6 percent September, compared to August. That was double the gain that economists had been expecting and was also in contrast to reports Thursday of sluggish demand from the nation's leading retail chains. The government data did show weakness at department stores and specialty clothing shops, where unusually warm weather dampened demand for fall clothing. In other news, the Labor Department reported that wholesale prices jumped by 1.1...
  • S&P 500 hits record on jobs report !

    10/05/2007 11:38:00 AM PDT · by SirLinksalot · 27 replies · 1,053+ views
    NEW YORK (Reuters) - Stocks advanced on Friday, sending the benchmark S&P 500 index (^SPX - News) to a record as a solid employment report rekindled optimism about the outlook for growth and profits. The prospect of continued strength in the economy boosted a broad range of equity sectors, including technology, basic materials, industrials, financials and consumer-oriented plays, such as retailers. Pharmaceutical shares also showed strength, with shares of Merck & Co (NYSE:MRK - News) among the top advancers in both the Dow and the S&P 500. "The unemployment report was a good report," said Stephen Carl, principal and head...
  • Jobs gains back on track

    10/05/2007 5:52:04 AM PDT · by Always Right · 30 replies · 569+ views
    Money.CNN ^ | 10-5-07 | Money
    Jobs report shows September gains in line with forecasts, while earlier job loss wiped away; unemployment rate up to 4.7%. October 5 2007: 8:40 AM EDT NEW YORK ( -- Job growth was back on track in September, according to a government report that showed both a solid gain in Americans with jobs in the month, and revised away the job loss reported a month earlier. U.S. payrolls showed a net gain of 110,000 workers in the month, according to the Labor Department report. That's roughly in line with the forecast of a 100,000 gain by economists surveyed by
  • Consumer Spending Higher Than Expected

    09/28/2007 6:50:01 AM PDT · by Always Right · 11 replies · 98+ views
    AP - Yahoo ^ | 9-28-2007 | Martin Crutsinger
    Consumer Spending Posts Better-Than-Expected Gain While Inflation Eases WASHINGTON (AP) -- Consumers shrugged off a rash of bad news to spend more than expected in August while a key measure of inflation eased to the slowest pace in 3 1/2 years. The Commerce Department reported Friday that consumer spending rose by 0.6 percent in August, the best showing in four months and better than the 0.4 percent increase that had been expected. Incomes rose by 0.3 percent last month, slightly lower than had been expected. A closely watched gauge of inflation was up just 1.8 percent in August, compared to...
  • Jobless Claims Make Surprise Fall

    09/27/2007 10:56:50 AM PDT · by MNJohnnie · 14 replies · 73+ views
    Fox News ^ | 09-27-07 | Reuters via Fox News
    The number of laid-off workers filing claims for unemployment benefits fell to the lowest level in seven weeks, an unexpected sign of improvement for the jobs market. The Labor Department reported Thursday that new applications for unemployment benefits totaled 311,000 last week, a drop of 9,000 from the previous week. It marked the lowest level for jobless claims since July 28. The decline came as a surprise for economists who had been forecasting a rise in claims of around 6,000. The four-week average for claims, which smooths out some of the volatility, also showed an improvement, falling to 320,750 from...
  • Unemployment Claims Make Surprise Drop

    09/20/2007 5:54:59 AM PDT · by Toddsterpatriot · 13 replies · 68+ views
    Yahoo! Finance ^ | September 20, 2007 | Martin Crutsinger
    Applications for Unemployment Benefits Show Unexpected Drop WASHINGTON (AP) -- The number of laid-off workers filing claims for unemployment benefits fell to the lowest level in seven weeks, an unexpected sign of improvement for the jobs market. The Labor Department reported Thursday that new applications for unemployment benefits totaled 311,000 last week, a drop of 9,000 from the previous week. It marked the lowest level for jobless claims since July 28. The decline came as a surprise for economists who had been forecasting a rise in claims of around 6,000. The four-week average for claims, which smooths out some of...
  • Stocks Rise on Better-Than-Expected Reading on Jobless Claims

    09/13/2007 7:10:34 AM PDT · by Brilliant · 7 replies · 317+ views
    AP via Yahoo! ^ | September 13, 2007 | Lauren Villagran
    NEW YORK (AP) -- Stocks opened higher Thursday after fewer-than-expected workers sought unemployment benefits last week and on a possible agreement between automakers and workers over health care costs. The Dow Jones industrial average rose more than 100 points. The Labor Department reported claims for unemployment benefits rose by 4,000 last week to 319,000 -- the sixth increase in seven weeks -- but the number was less than the 325,000 claims analysts expected. Low unemployment, at 4.6 percent, has been one of the economy's strengths. Shares of General Motors Corp. jumped sharply after The Wall Street Journal reported that UAW...
  • Economy Grows at Fastest Pace in a Year

    08/30/2007 7:32:44 AM PDT · by kristinn · 62 replies · 1,603+ views
    AP via News & Observer ^ | Thursday, August 30, 2007 | Martin Crutsinger
    The economy grew at its strongest pace in more than a year during the spring as solid improvements in international trade and business investment helped offset weakness in housing. The gross domestic product, the broadest measure of economic health, expanded at an annual rate of 4 percent in the April-June quarter, significantly higher than the 3.4 percent rate the government had initially estimated a month ago, the Commerce Department reported Thursday. But the growth spurt could be short-lived. There are concerns that the recent turmoil in financial markets, a result of a spreading credit crisis, could seriously dampen economic activity...
  • Wall Street rises on solid economic readings

    08/24/2007 11:17:46 PM PDT · by JohnHuang2 · 2 replies · 416+ views
    NEW YORK (AP) — Wall Street ended its calmest week in a month with a big advance yesterday, rising on solid economic readings that countered the bleak sentiment that has blanketed the financial markets. The Dow Jones Industrial Average rose more than 140 points in a lightly traded session. Stocks started out flat but jumped following a stronger-than-expected reading on new-home sales for July. That report came after a reading showing orders to factories for big-ticket goods rose sharply last month. The stock market's gains yesterday after several stable or positive sessions suggested that Federal Reserve policy-makers and stock market...
  • New home sales rise 2.8% to 870,000 pace in July

    08/24/2007 7:42:17 AM PDT · by Always Right · 40 replies · 702+ views
    Market Warch ^ | 8/24/2007 | Rex Nutting
    WASHINGTON (MarketWatch) -- Sales of new home increased 2.8% in July to a seasonally adjusted annual rate of 870,000 as the inventory of homes for sale dropped for a fourth straight month, the Commerce Department estimated Friday. Sales were stronger than the 820,000 annualized pace expected by economists surveyed by MarketWatch. See Economic Calendar. In addition, sales in June were revised slightly higher. Sales are down 10.2% compared with last July. Read the full report. Stocks turned higher after the report was released. See Market Snapshot. Inventories of unsold homes fell about 1% to 533,000, the fourth consecutive decline. At...
  • Federal Deficit Sharply Lower (donks deeply saddened)

    08/10/2007 6:53:49 PM PDT · by upchuck · 51 replies · 1,033+ views ^ | Aug 10, 2007
    WASHINGTON (AP) — The federal deficit so far this budget year is running sharply lower, driven by record revenues pouring into government coffers. The Treasury Department reported on Friday that the government produced a deficit of $157.3 billion for the budget year that began last Oct. 1. That's a substantial improvement from the red ink figure of $239.6 billion produced for the corresponding 10-month period last year. The lower year-to-date deficit was the result of a record of $2.12 trillion in revenues. Spending, however, was higher — $2.27 trillion, which also marked an all-time high. The White House predicts that...
  • Explosive day for the Dow

    08/06/2007 1:20:30 PM PDT · by Signalman · 53 replies · 1,865+ views
    CNNMoney.,com ^ | August 6, 2007 | David Ellis
    NEW YORK ( -- The Dow industrials surged 286 points Monday, posting its biggest point gain of the year, helped by financial sector strength just ahead of the Federal Reserve's policy meeting. The Dow Jones industrial average (up 262.24 to 13,444.15, Charts) soared 286 points, or 2.16 percent, based on early tallies, rebounding from a 281 point late session selloff Friday. The broader S&P 500 (up 31.47 to 1,464.53, Charts) gained 2.4 percent while the tech-laden Nasdaq composite index (up 31.80 to 2,543.05, Charts) climbed 1.4 percent. Treasury prices retreated, raising the benchmark yield on the 10-year note rising to...