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Despite allowing Delta to buy Northwest, United to buy Continental, and Southwest to buy AirTran, the Department of Justice has come down hard against the US Airways-American merger. Years ago the industry was hemorrhaging money and it was in everyone’s…
As of 7/31/13, the FY2013 federal budget deficit was $607 billion, down from $973 billion on 7/31/12, and the full year FY13 deficit is projected to be $759 billion, down from $1.089 trillion last year. Revenues to date are up…
Manufacturing employment first hit 10 million in 8/40 and quickly hit a record 16.4 million in 1/44. The next manufacturing employment peak was 18.7 million set in 8/69, then 18.8 million in 12/73. The all-time high was 19.6 million in…
The Friday File: Last month a virtually pristine 1954 Mercedes-Benz W196R racing car sold for $29.6 million, shattering the previous record of $16.39 million for the most expensive car ever sold. The car was driven by the late Argentine racing…
Despite spending 18% of GDP on healthcare, or $9,356/person, Americans are falling behind other countries in overall health. In 1990, US life expectancy was 75.2, by 2010 it was 78.2, yet the US ranking fell from 20th to 27th. Worse,…
In 1980, a record 8,070 pedestrians were killed crossing streets. By 2009, the number hit an all-time low of 4,109. Since then it has been rising, to 4,280 in 2010 and 4,432 in 2011. Pedestrians account for 14% of traffic…
The GOP threat to close the government on 10/1 if the 2014 budget contains any funding for Obamacare is laughable. Obama will veto any bill that defunds his signature achievement and a veto override is impossible as it requires a…
A proposal to increase capital ratios for the biggest financial firms to 6% for bank subsidiaries and 5% for bank holding companies while good, presents a huge loophole. A $150 billion bank would need $7.5 billion in capital. But if…
The Friday File: In the US there are 105 boys born for every 100 girls. Older mothers give birth to more girls. By age 40, women give birth to 104 boys for every 100 girls and with each successive birth…
Fannie Mae and Freddie Mac report that the rate at which single family mortgages that are three months in arrears or in foreclosure declined to 2.77% and 2.79% respectively in June, down from all-time highs of 5.59% and 4.20% respectively…