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MOUNTAIN OF DEBT: Rising debt may be next crisis

The Founding Fathers left one legacy not celebrated on Independence Day but which affects us all. It's the national debt.

Airline BA to cut capacity, delay new planes

British Airways PLC announced Friday it will ground aircraft, slash seat numbers and postpone taking delivery of a dozen new Airbus A380 superjumbos as it faces a recession-driven decline in passengers.

Feds seize Madoff penthouse

NEW YORK — Federal marshals took possession of disgraced financier Bernard Madoff’s $7 million Manhattan penthouse on Thursday in a move that forced his wife to move elsewhere.

Job loss and wage reduction hurt economic recovery

WASHINGTON — Employers cut a larger-than-expected 467,000 jobs in June and the unemployment rate climbed to a 26-year high of 9.5 percent. Workers also saw weekly wages fall, suggesting Americans will have little appetite to spend and the economy’s road to recovery will be bumpy.

Markets drop due to rising jobless rate

NEW YORK — Major stock indexes fell more than 2.6 percent Thursday after the government said the U.S. unemployment rate hit a 26-year high. The Dow Jones industrials closed at their lowest level in six weeks.

Associated Press

Texas brewer, once near defeat, shines again - 07/04/2009

By all accounts, Shiner beer shouldn't have made it this long. The Spoetzl Brewery ferments its brew in a one-stoplight town that's not on the way to anywhere, and much larger regional brewers long ago succumbed to consolidation and the muscle of national brewers. For years, Spoetzl limped along with cast-off parts from other brewerie

The old is new again at Saturday Evening Post - 07/04/2009

The Saturday Evening Post, a centuries-old publication that helped make illustrator Norman Rockwell an American icon and showcased some of the greatest U.S. writers, is returning to its roots to show readers the value of a quiet read in an increasingly frenetic digital age. A redesign launching with its July/August issue combines the

Malaysia makes bold changes in race-based policies - 07/04/2009

The economic downturn is allowing Malaysia's leader to chip away at an affirmative action program for Malay Muslims that has been considered virtually untouchable in the past. Soon after taking office in April, Prime Minister Najib Razak scrapped a requirement for 30 percent Malay ownership of companies in certain service industries.

Venezuela assumes control of Spanish-owned bank - 07/04/2009

President Hugo Chavez's government assumed control of Venezuela's third-largest bank on Friday _ making the state the largest player in the nation's banking system. The purchase of the Spanish-owned Banco de Venezuela gives Chavez's socialist government control over more than one-fifth of bank deposits as he tightens his grip over the