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

Economy Watch: March 21, 2010 - March 27, 2010

The price of health-care reform: AT&T to take $1 billion charge

Telecom giant AT&T said today that it would be forced to record a $1 billion non-cash charge on its first-quarter earnings to account for increased costs associated with the health-care legislation signed into law earlier this week by President Obama....

By Frank Ahrens  |  March 26, 2010; 5:35 PM ET  |  Permalink  |  Comments (15)
Categories:  Congress , Obama , The Ticker  | Tags: 3M, AT&T, Obama, healthcare legislation, what is the cost of healthcare reform  
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GDP + consumer confidence numbers = stagnation

Two economic numbers came out this morning that paint a picture of a stagnant economy lumbering sideways. First, the Commerce Department said that its final revision of fourth-quarter 2009 GDP indicates the economy grew at a 5.6 percent annual clip,...

By Frank Ahrens  |  March 26, 2010; 3:01 PM ET  |  Permalink  |  Comments (0)
Categories:  Data , The Ticker , Unemployment  | Tags: GDP, What does the GDP number mean?, consumer confidence, stagnant economy  
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Video: Why you're going to hear more about a Chinese company called Baidu

You have heard about the escalating war between China and Google. Google no longer will censor the search results of Chinese citizens, as the Chinese government demands. Google has pulled out. Other companies are following. Where this goes, it's hard...

By Frank Ahrens  |  March 26, 2010; 11:53 AM ET  |  Permalink  |  Comments (0)
Categories:  Corporations , The Ticker  | Tags: Baidu, China, Frank Ahrens, Frankonomics, Google  
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Stocks rise at opening following GDP revision

Stocks opened higher following this morning's fourth-quarter 2009 GDP data, as the Dow pushed closer to the 11,000 level. In the first 25 minutes of trading, the Dow is up one-tenth of 1 percent. The broader S&P 500 is up...

By Frank Ahrens  |  March 26, 2010; 9:55 AM ET  |  Permalink  |  Comments (3)
Categories:  The Ticker , Wall Street  | Tags: Dow Jones, nasdaq, s&p 500  
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Many Americans still unfamiliar with Geithner and Bernanke, poll finds

By Jon Cohen More publicity for Timothy F. Geithner has barely moved the needle on his public opinion ratings, as large numbers of Americans remain unfamiliar with both the Treasury secretary and Federal Reserve Chairman Ben S. Bernanke, according...

By Mike Shepard  |  March 25, 2010; 5:11 PM ET  |  Permalink  |  Comments (0)
 
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Safety group claims Toyota's acceleration problems caused by electronics

With the words “Toyota Truth” written repeatedly on a large red banner as a backdrop, four non-company safety experts gathered at the National Press Club on Tuesday afternoon to offer their theories on what is causing the Japanese automaker’s problems,...

By Frank Ahrens  |  March 23, 2010; 5:14 PM ET  |  Permalink  |  Comments (2)
Categories:  Autos , Regulation , The Ticker  | Tags: Joan Claybrook, NHTSA, Runaway acceleration, runaway prius, toyota  
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Reports: Toyota will replace gas pedals

If you're one of the millions of Toyota owners who have followed the automaker's instructions to take your vehicle in to a dealer to fix a sticky gas pedal and you're still unhappy, then Toyota will give you a new...

By Frank Ahrens  |  March 23, 2010; 1:43 PM ET  |  Permalink  |  Comments (5)
Categories:  Autos , The Ticker  | Tags: Runaway acceleration, prius hoax, runaway prius, toyota, toyota problems  
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Interview: Sen. Judd Gregg leads GOP effort today to derail health-care reconciliation bill

Sen.Judd Gregg (R-N.H.) and the GOP will launch a raft of amendments beginning today to attempt to derail the health-care reconciliation bill. The House passed the health-care overhaul legislation on Sunday night and President Obama just signed it into law...

By Frank Ahrens  |  March 23, 2010; 12:03 PM ET  |  Permalink  |  Comments (2)
Categories:  Congress , Deficit/debt , The Ticker  | Tags: GDP, Judd Gregg, Medicaid, Medicare, Republicans, debt, deficit, healthcare reform  
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Chinese search engine gains as Google exits

This afternoon, Google did what investors expected it would do all day long: It effectively pulled the plug on its search engine in China. If you go to www.google.cn, you are redirected to www.google.com.hk, the search engine's Hong Kong site....

By Frank Ahrens  |  March 22, 2010; 5:11 PM ET  |  Permalink  |  Comments (6)
Categories:  Corporations , The Ticker  | Tags: Baidu, China, Google  
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N.Y. police confirm Fed's findings on 'runaway' Prius: Driver error

New York police confirmed what the National Highway Traffic Safety Administration reported in initial findings last week, that the "runaway" Prius widely reported in New York two weeks ago was the result of driver error. On March 10, a driver...

By Frank Ahrens  |  March 22, 2010; 3:16 PM ET  |  Permalink  |  Comments (2)
Categories:  Autos , Corporations , The Ticker  | Tags: Prius, Runaway acceleration, Toyota, prius hoax, runaway prius  
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Health-care legislation's economic/business winners and losers

My colleague Chris Cillizza over at The Fix has done a good job listing the political winners and losers from last night's House passage of the new health-care legislation, which you can see by clicking here. Let's take a look...

By Frank Ahrens  |  March 22, 2010; 2:08 PM ET  |  Permalink  |  Comments (2)
Categories:  Congress , Corporations , The Ticker  | Tags: Obama, Obamacare, healthcare reform, insurance companies, pharma  
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Stocks erase losses in mid-day trading

UPDATED at 12:20 p.m.: Stocks have rebounded in mid-day trading, erasing the day's earlier losses. As of 12:20 p.m., the Dow is up three-tenths of 1 percent. The broader S&P 500 is up three-tenths of 1 percent and the tech-heavy...

By Frank Ahrens  |  March 22, 2010; 12:20 PM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  | Tags: Dow Jones, Google, nasdaq, s&p 500  
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