January 30, 2014 |
WASHINGTON - President Obama's call to raise the minimum wage brought cheers Tuesday from local Democrats in Congress, but a mixed reaction from Philadelphia-area Republicans in what was likely a preview of the debate that will play out in heated campaigns this fall. Obama used part of his State of the Union speech to urge Congress to raise the federal minimum wage from $7.25 to $10.10 an hour as part of a sweeping mission to level the economic playing field, though the idea seems unlikely to gain traction.
January 17, 2014
Reports from the 12 regional banks of the Federal Reserve indicate that the economy was expanding across the nation from late November through December, the central bank said. Philadelphia was one of two regions that reported just "modest" growth (the other was Boston), while nine regions said growth was "moderate" and one, Kansas City, said only that the economy had "held steady" during late 2013. In the Philadelphia region there was underlying confidence in the economy and transportation services were described as "booming" during the period.
January 16, 2014 |
When Charles Plosser speaks, people listen, even more so now that the president of the Federal Reserve Bank of Philadelphia has a vote on national monetary policy. So, if you missed it, here is what he had to say Tuesday about 2014: He expects the economy to grow 3 percent, the unemployment rate to decline to 6.2 percent, inflation to drift toward 2 percent, and the Federal Reserve to end its purchase of bonds to spur the economy's recovery. Plosser made his observations in a speech at a luncheon at the Union League sponsored by the La Salle University School of Business.
January 2, 2014
The top-searched story of 2013 on the Yahoo News website was the trial of Jodi Arias, the wispy Arizona woman convicted of stabbing her boyfriend nearly 30 times, slitting his throat from ear to ear, and shooting him in the forehead. Yes, America loves a love story, especially one that reads like a real-life episode of Law & Order: Criminal Intent . Of course, there were many more important stories last year, and most will get new chapters in 2014. So will the Arias tale, when she returns to court for sentencing.
December 21, 2013 |
Steady as it goes was the theme of this month's Business Outlook Survey released Thursday by the Federal Reserve Bank of Philadelphia. The survey of area manufacturers showed continued modest improvement in economic activity and an optimism that things will be better in six months. It marked the seventh month in a row that the survey showed a positive response from manufacturers. The survey is based on responses from area manufacturers questioned about a series of business indicators and whether they were up or down for the month.
December 16, 2013 |
CAIRO - It isn't easy being a senior lawyer for Egypt's deposed president, the Muslim Brotherhood's Mohammed Morsi. A respected jurist and former member of Egypt's upper house of parliament, Mohamad Tosson was clearly frustrated, as he talked to me over tea in a dim hotel lobby. He has been permitted to see Morsi only once since the military ousted and jailed him in July, after huge anti-Morsi protests. "His lawyers need to discuss the case with him, but they don't allow it," he told me. "They don't permit him family visits, or even to see his son. " "They" means the military.
December 15, 2013 |
Although fuel prices have been on something of a plateau recently, people are realizing that they are trending upward. That's why surveys are showing that prospective auto buyers are attaching a higher priority to fuel economy. So, let's look at some of the ways you can save on fuel and some of the ways automakers are helping you to do that. First, things you can do: Avoid jackrabbit starts. Lead-foot departures are a great way to waste gas or diesel. Instead of jumping on the gas and then laying off as you reach the desired speed, get away with a moderate, steady throttle opening.
November 26, 2013
Congressional inaction could put more obstacles in the path of the already slow economic recovery. If lawmakers don't extend the Emergency Unemployment Compensation program, $25 billion in benefits - money that tends to be quickly spent on rent, food, and other necessities - would be ripped out of the economy. The nonpartisan Congressional Budget Office says the program is a highly effective antirecession measure. An estimated 1.3 million long-term-unemployed Americans are expected to lose the emergency benefits in December if Congress doesn't act. Another 850,000 could join them before next spring.
October 31, 2013 |
ATLANTIC CITY Reducing property taxes, growing the economy, and revitalizing Atlantic City dominate this year's Second Legislative District races in Atlantic County. Democratic State Sen. James Whelan, a former mayor of Atlantic City and a fixture in local and state politics for 30 years, is being challenged by Republican Frank Balles, the Atlantic County sheriff. Republican Assembly incumbents John Amodeo and Chris A. Brown face two Democratic mayors, Nick Russo of Longport and Vince Mazzeo of Northfield.
October 21, 2013 |
In this post-housing-boom era, when prices still aren't what sellers want them to be, and there isn't a lot on the market, and a lot of folks are loath to move because of the uncertain economy, more people seem to be doing major renovations again - fixing up their houses for their own current use, or to update them for future sale. After several years of minor repairs and roof replacements, residential contractors say, they are once again getting big projects. Kim Pelkey and David Bushnell's undertaking, for example.