| July 2006
I know in my head I should be packing the car, making last minute arrangements and checking to be sure I haven’t forgotten anything. I am especially antsy to get going this year since last summer I spent here at home after breaking my leg in 3 places. But at least this year, I am healthy, and ready to go. So until September I need to keep the bags by the door and just chill, until its my time to leave for the Cape. Have a great August all, I will miss you, but I will be coming soon. .
New home construction drops by largest amount in almost 30 years
Other metro-east communities, such as Belleville, Mascoutah, Smithton, Maryville and Godfrey, recorded declines of 15 percent to 25 percent. Economists said the current housing slump has already surpassed the 1990 downturn and will likely rival, if not surpass, the prolonged housing downturn in the late 1970s and early 1980s, a period when the Federal Reserve was pushing interest rates to the highest levels since the Civil War in a successful effort to halt a decade-long bout of high inflation. Mark Zandi, chief economist at Moody's Economy.com, is forecasting that median sales prices for existing homes will fall by 2.5 percent for all of 2007, which would be the first annual price decline on records that go back four decades. "I think this housing downturn will be unprecedented in terms of its breadth across the country and in its severity," Zandi said.
Penn Treaty more likely to enter joint venture or sell assets than to ...
In December 2007, it received an extension from the NYSE until 16 February to file its annual report. The company has said that it expects to make a decision regarding any financial restatements by later this month, according to regulatory filings. Also according to regulatory documents, Penn Treaty's right to sell policies in Florida was suspended for at least one year for failure to file its 2006 financial results by 1 June. Penn Treaty said at the time that the suspension would not be material to its financial performance, as its right to sell policies represented 6% of its new business applications for the first five months of 2007. Florida sales, however, accounted for approximately 15% of the company's direct premium revenue last year, according to company figures.
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Hardware Intel Responds to EU Charges With Demands of Its Own
Intel insists its innocence as it responds to antitrust allegations from the European Union Intel revels in the glory of being the CPU industry leader, at least for the time being. However, like many industry leaders, they have found themselves the primary target of the crosshairs of criticism. Further, as with any company that is dominating the market, allegations of antitrust violations become a serious threat to the company worldwide. AMD said Intel's anti-competitive practices established a monopoly in the microprocessor market. AMD then sued Intel in U.S. courts in June of 2005. The company since mounted a long-standing legal battle that included ads in major newspapers and the a website chastising Intel who it portrays as sinister and monopolistic. AMD received an ally in the form of the European Union. In July 2007, it announced that based on evidence collected in a multi year investigation, including materials found in a June 2005 raid of European Intel offices, it was filing charges against Intel for engaging in anticompetitive practices.
Economists Debate the Quickest Cure
President Bush highlighted both those basic approaches on Friday in setting out his principles for a deal with Congress to address the current downturn. Democrats are also likely to seek increased spending for programs like unemployment insurance or to funnel more money to states, an approach that Mr. Bush signaled he would oppose. "The research I've seen indicates that the programs in 2001 clearly worked," Treasury Secretary Henry M. Paulson Jr. said in an interview, referring to the tax measures. "They worked quickly, and people spent the money they got. The thing we should be looking at now is how to make them even more effective." The nonpartisan Congressional Budget Office reported this week that each of the three elements of the 2001-2 stimulus personal tax rebates, incentives for business investment and government spending programs played a role in lifting the economy.
The Global Threat The News Media Ignore
Even in turmoil-wracked Kenya, Business Day Africa picked it up. But here? A few specialized environmental news groups took notice. The Voice of America broadcast overseas about it. But there was hardly a whisper out of The Washington Post, or the New York Times, or the Los Angeles Times, or any other major U.S. news outlet.
One is tempted to say that we Americans, collectively, are holding our heads in the sand, aroused by mortgage market woes and a brewing recession, preoccupied by a presidential election, yet largely oblivious to the mega-global issues on which our entire survival may depend.
The core problem: We still believe in the prevailing economic calculus of the past two centuries — that natural resources, from water and air to energy, are limitless.
Nurses who left jobs endangered children, prosecutors say
RIVERHEAD, N.Y. For months, the nurses complained that they were subject to demeaning and unfair working conditions not what they were promised when they came to America from the Philippines in search of a better life. So they abruptly quit. But in doing so, they put more than their careers at risk: Prosecutors hit them with criminal charges on suspicion they jeopardized the lives of terminally ill children they were in charge of watching. .
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