Economy Watch: November 22, 2009 - November 28, 2009
Fed spends $15,000 to tell you to pay your credit card on time
UPDATED with cost of ad: Your taxpayer dollars are being spent by the Federal Reserve on a commercial that will appear before movie previews in 12 cities around the country beginning later this week, instructing you on how to "get...
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Frank Ahrens
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November 27, 2009; 1:47 PM ET |
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| Tags: Fed, Federal Reserve, credit cards
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Is the White House embracing China at India's expense?
Indian prime minister Manmohan Singh wrapped up his U.S. visit with a state dinner at the White House Tuesday night, a powerful reminder of why the United States should pay at least as much -- if not more -- attention...
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Frank Ahrens
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November 25, 2009; 5:04 PM ET |
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| Tags: India, Manmohan Singh, Obama, china, trade
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Michigan's Silverdome sells for $583,000. Yes, you read that right.
Here's all you need to know about the real estate market in Michigan: The 80,000-seat enclosed Silverdome, built for $55.7 million in 1975 to house the Detroit Lions, has sold for $583,000. And you thought your home had lost its...
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Frank Ahrens
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November 25, 2009; 12:42 PM ET |
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| Tags: Detroit Lions, Pontiac Silverdome, commercial real estate
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New home sales rise 6.2% in October
Sales of new homes rose a better-than-expected 6.2 percent in October, according to figures released this morning by the Commerce Department, fueled solely by a hot Southern market. This puts the pace of new home sales at a 430,000 annualized...
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Frank Ahrens
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November 25, 2009; 11:30 AM ET |
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| Tags: new home sales
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New GM still looking a lot like old GM
The plan for the new General Motors -- the plan that became a taxpayer-funded bankruptcy that left you owning 60 percent of GM -- was that the automaker would shed several brands and become a smaller, more nimble automaker going...
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Frank Ahrens
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November 24, 2009; 3:06 PM ET |
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| Tags: Buick, Cadillac, Chevrolet, GM, GMC, Hummer, Opel, Pontiac, Saab, Saturn
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American consumer holding back recovery -- and that's a good thing
Today's downward revision of third-quarter GDP from 3.5 percent to 2.8 percent, slightly less than forecasters predicted, was directly caused by consumers refusing to spend. And for now, that's a good thing. Consumer spending accounts for about 70 percent of...
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Frank Ahrens
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November 24, 2009; 2:30 PM ET |
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| Tags: Bureau of Economic Analysis, GDP, consumer confidence, consumer spending
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For spinoff, AOL rebrands itself as Aol.
AOL, which used to be AOL Time Warner, which used to be America Online, is now going to be Aol., as it begins new life on Dec. 9 as a spinoff from Time Warner, the company says. Okay. Where to...
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Frank Ahrens
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November 23, 2009; 1:40 PM ET |
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| Tags: AOL, Jonathan Miller, Randy Falco, Sharon Stone, Tim Armstrong, Time Warner
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Oct. existing home sales jump record 10.1 percent
Existing home sales in October jumped a record 10.1 percent, according to data released moments ago, thanks to buyers rushing in to take advantage of the first-time home buyers' credit before it was set to expire. Sales are up 23.5...
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Frank Ahrens
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November 23, 2009; 10:20 AM ET |
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| Tags: existing home sales
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Stocks open week with strong rally
Wall Street zoomed out of the gate Monday morning in a strong rally ahead of the most recent existing home sales report, due out at 10 a.m. In the first 20 minutes of trading, the Dow is up 1.4 percent....
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Frank Ahrens
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November 23, 2009; 9:43 AM ET |
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| Tags: Dow Jones, nasdaq, s&p 500
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