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2.7%  Q1 GDP    4.57%  avg. 30-year mortgage     9.5%  Unemployment

Economy Watch: March 7, 2010 - March 13, 2010

New report into Lehman Brothers collapse released

The actions of Lehman Brothers executives “ranged from serious but non-culpable errors of business judgment to actionable balance sheet manipulation,” says a 2,200-page report into the factors that led to the largest bankruptcy claim ever filed.   The just-published report...

By Jennifer Abella  |  March 12, 2010; 1:17 PM ET  |  Permalink  |  Comments (2)
 
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Positive retail numbers send markets climbing

Despite snowstorms and weak demand for autos, U.S. retail sales increased by 0.3 percent in February to $355.5 billion, the Commerce Department said this morning. Analysts had expected a decline of 0.2 percent, by comparison, according to a survey by...

By Kendra Nichols  |  March 12, 2010; 9:50 AM ET  |  Permalink  |  Comments (1)
Categories:  Autos , The Ticker  
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NHTSA chief: Does agency have authority over automakers?

The head of the National Highway Traffic Safety Administration pondered whether his agency has the sort of reach it needs to adequately enforce the modern automobile industry as he testified Thursday before the Subcommittee on Commerce, Trade and Consumer Protection....

By Multiplatform Editor  |  March 11, 2010; 3:45 PM ET  |  Permalink  |  Comments (0)
Tags: auto industry, consumer protection, david strickland, nhtsa  
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Dodd plans bill to overhaul nation's financial regulation

Senate banking committee Chairman Christopher J. Dodd (D-Conn.) announced this morning that he plans to introduce legislation aimed at revamping the nation's financial regulatory system. Dodd said he will unveil Monday an updated version of the overhaul package he introduced...

By Multiplatform Editor  |  March 11, 2010; 1:05 PM ET  |  Permalink  |  Comments (1)
Tags: chris dodd, consumer financial protection, financial regulations, financial system  
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Mildly positive numbers on new unemployment claims, foreclosures; stocks open down

The U.S. Department of Labor reports this morning that it counted 462,000 new unemployment claims for the week of March 6. Although that's a decrease of 6,000 from the previous week, analysts polled by Reuters had expected that figure to...

By Jennifer Abella  |  March 11, 2010; 9:39 AM ET  |  Permalink  |  Comments (2)
 
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D.C. unemployment rate reaches 12%

More unemployment figures are out today, and they show an increase in the District, Maryland and Virginia in January, despite a decrease in the U.S. jobless rate that month. Unemployment in the District increased to 12 percent in January from...

By Sarah Halzack  |  March 10, 2010; 11:59 AM ET  |  Permalink  |  Comments (6)
Categories:  Data  | Tags: local unemployment, regional unemployment, unemployment  
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In New York, another runaway Prius

Toyota cars seem to be on the run. For the second time this week, a Toyota Prius driver reported that a car accelerated on its own. This report came on Tuesday from a woman in suburban New York who said...

By Sarah Halzack  |  March 10, 2010; 10:59 AM ET  |  Permalink  |  Comments (13)
Categories:  Autos  | Tags: prius, runaway prius, toyota  
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Engineers weigh in with their stories, possible solutions to Toyota's problems

Let's hear it for -- and from -- the engineers! My piece from last Sunday, "What it's so hard for Toyota to find out what's wrong," really brought the engineers out of the woodwork, and that's good to see. Engineers...

By Frank Ahrens  |  March 10, 2010; 10:30 AM ET  |  Permalink  |  Comments (6)
Categories:  Autos , Congress , Corporations , The Ticker  | Tags: Lexus, Runaway acceleration, Toyota problems, toyota, toyota recall model and years, unintended acceleration  
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Today marks the first anniversary of the stock market bottom

Today marks the anniversary of the March 9, 2009, stock market bottom. Of course, at the time we didn't know it was the bottom. The market crashed hard in October and November, diving below 8,000 on the Dow. Then it...

By Frank Ahrens  |  March 9, 2010; 3:05 PM ET  |  Permalink  |  Comments (1)
Categories:  The Ticker , Wall Street  | Tags: Dow Jones, nasdaq, s&p 500  
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Toyota's bad luck continues with runaway Prius in California

Toyota's run of bad luck and terrible timing continues. On the same day that Toyota launched a counterattack against the assertion that electronics may be at the heart of its runaway acceleration problem, a Toyota Prius took its driver on...

By Frank Ahrens  |  March 9, 2010; 12:13 PM ET  |  Permalink  |  Comments (43)
Categories:  Autos , Corporations  | Tags: Runaway acceleration, california runaway prius, runaway prius, toyota, toyota recall model and years  
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Stocks celebrate anniversary of 2009 bottom by opening lower

Today is the one-year anniversary of the 2009 stock market bottom and, to celebrate, stocks have opened lower. In the first 15 minutes of trading, the Dow and the the tech-heavy Nasdaq are just below water. The broader S&P 500...

By Frank Ahrens  |  March 9, 2010; 9:48 AM ET  |  Permalink  |  Comments (1)
Categories:  The Ticker , Wall Street  | Tags: Dow Jones, nasdaq, s&p 500  
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Toyota launches massive engineering, PR counterattack on runaway acceleration

Toyota deploys an army of engineers to refute research that suggests the automaker's runaway acceleration problem may be electronic.

By Frank Ahrens  |  March 8, 2010; 5:01 PM ET  |  Permalink  |  Comments (95)
Categories:  Autos , Congress , Corporations , The Ticker  | Tags: David Gilbert, Runaway acceleration, Toyota problems, toyota, toyota congressional hearings, unintended acceleration  
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Stocks open week up slightly

Stocks are up slightly at opening and seeking direction, following news of an AIG sell-off. In the first 15 minutes of trading, the Dow is up one-tenth of 1 percent. The broader S&P 500 is up two-tenths of 1 percent,...

By Frank Ahrens  |  March 8, 2010; 9:31 AM ET  |  Permalink  |  Comments (2)
Categories:  The Ticker , Wall Street  | Tags: AIG, Dow Jones, nasdaq, s&p 500  
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