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Staff Report News Tips: [email protected] Most turnaround professionals predict a hard slog toward economic recovery in 2010 as businesses weighed down by debt hit rough patches and credit markets shun them. Nearly half (49 percent) the respondents to the Turnaround Management Association’s distressed industries forecast think durable economic improvement is unlikely until at least…
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Waynesboro still in limbo on economic-development position Story by Chris Graham [email protected] Sixteen months and counting. That’s how long it has been since the city government in Waynesboro had its economic-development director post filled. Things seemed to be winding down on that until the news started circulating in City Hall late last week that the…
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Column by Bob Goodlatte www.goodlatte.house.gov The U.S. Bureau of Labor Statistics recently released November unemployment numbers. For the second month in a row, the unemployment rate is at 10 percent – the highest rate in 26 years. Equally sobering is the fact that last month the national debt surpassed $12 trillion. Earlier this year,…
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Speech at The Brookings Institution www.whitehouse.gov Almost exactly one year ago, on a frigid winter’s day, I met with my new economic team at the headquarters of my presidential transition offices in Chicago. And over the course of four hours, my advisors presented an analysis of where the economy at that time stood, accompanied…
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Video Essay by Chris Graham [email protected] What about those White House party crashers? We haven’t had something this salacious to talk about since, well, the balloon boy. With unemployment at 10 percent, with the health-care system in bad need of reform, with wars in Afghanistan and Iraq seemingly at no end, does it really…
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Column by David Reynolds Columns, letters: [email protected] Back during the dark ages of the 1960s, the days after Thanksgiving did not mark the beginning of the holiday season. Rather it was the start of the “Budget Season.” At the old Bureau of the Budget in the old Executive Office Building (everything was old then),…
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Staff Report Struggles to date for average Virginians since the start of the recession in December 2007 are “just the tip of the iceberg,” said Michael Cassidy, the executive director of The Commonwealth Institute for Fiscal Analysis, which released a report today detailing the present and near-term future impacts of the economic downturn on workers…
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Column by Tom Perriello I want to update Virginians on some of the efforts I am undertaking in Congress to get our economy back on track. You may recall in the Sept. 28 edition of this newsletter, I wrote that the U.S. House voted to extend unemployment benefits only in states where the unemployment rate…
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Rep. Frank Wolf (R-10th) today told the Senate Budget Committee that the only way to address the nation’s growing debt is to create a bipartisan commission and require Congress to vote up or down its recommendations. Wolf, who for three years has been advocating for a blue ribbon panel that would put everything from entitlement…
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Staff Report After weeks of steady increases, gasoline prices began to retreat slightly this week. The average U.S. retail price for regular gasoline dropped to $2.68 a gallon on Friday, down two cents over the week and 34 cents above year-ago prices. Despite recent increases, gasoline prices are still $1.43 below the record price of…
