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Fri, May 09 2008 

Business

Consumer spending up but much of gain reflects higher prices

Soaring prices for food, gas and other everyday products pushed up consumer spending to a faster pace than expected in March.
The Commerce Department reported Thursday that consumer spending was up 0.4 percent in March, double the increase that economists had forecast.....more>>

  • Administration brings back one-year Treasury security
    The Bush administration, moving to cope with soaring budget deficits, says it is bringing back the one-year Treasury bill that it stopped issuing seven years ago when the budget was in surplus.
    The administration said Wednesday it would begin selling the one-year bill, also referred to as a 52-week bill, at an initial auction in June. New one-year securities will be auctioned every four weeks.
  • Crop subsidies switched to feeding needy as food prices rise
    Most people call it a farm bill. But it’s really more of a food bill.
    That’s even more true this year as negotiators, spurred by House Speaker Nancy Pelosi and other urban lawmakers, move dollars from crop subsidies to food stamps and other programs for feeding the needy.
    Suddenly, higher food prices for consumers are a more urgent political issue as the November election approaches than government payments to farmers who are doing pretty well on their own now.
  • The amazing Al Smith
    Legendary Kentuckian Al Smith came to visit last week.
    For a guy who is supposedly retired, Al stays awfully busy.
    After retiring in November from a 33-year run as host of “Comment on Kentucky,” Al spent the winter in Florida, working on his autobiography and promoting causes he believes in.
  • Rock ‘n’ roll and ‘The Success Effect’
    “Music can be such a revelation.”
    — Madonna

    A person’s taste in music and books tells me a lot about who they are.
    When John Eckberg, business reporter and columnist for the Cincinnati Enquirer, wrote “The Success Effect,” (Sterling and Ross Publishers), he interviewed Donald Trump, Jerry Springer and more than 40 other successful business people. Eckberg showed us the traits that helped these successful people get to where they are today.
  •  Don’t take the money and run
    Brett Arends at the Wall Street Journal wrote a column about lottery winners titled “Take the Money and Run.”
    He said lottery winners should take the lump sum instead of annual payments.
  • ‘Worst Person in the World’
    Keith Olbermann does a nightly feature on MSNBC called, “Worst Person in the World.”
    Recently, he gave the award to Wal-Mart after he heard the saga of Debbie Shank.
  • Lobbying and The Maximum Contribution
    “Blow away the lies that leave you nothing but lost and brokenhearted”
    — Bruce Springsteen
  •  Sunshine Week and the Town Crier
    “Sunshine on my shoulders makes me happy.”
    -John Denver

    March 16 to 22 was ‘Sunshine Week.” It was a week to focus on open government and freedom of information.
    I am for all freedom of information, except when it applies to me. It is the same sentiment that many public officials have.
    I learned about public disclosure at a young age.
  • The culture of greed
    Fidelity Vice Chairman Peter Lynch recently settled a complaint filed against him by the Securities and Exchange Commission.
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