Word: nov
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...Agriculture and Construction: Blame Mother Nature, not the economy, for delayed harvests in the Richmond, Chicago and Minneapolis Districts, all of which experienced unusually wet weather. Corn farmers in the Midwest are still feeling the aftershock of a Nov. 1 bankruptcy in South Dakota (one of the nation's largest ethanol producrs). A global drop in cotton demand hurt the region's cotton farmers, who saw both a decline in prices and one of the smallest harvests in 25 years. Homebuilders in the Sixth District, which includes Alabama, Florida and Georgia, noted historically high inventory numbers, despite Florida's modest...
...credit lines to tide them over until the economy rebounds. U.S. auto sales were down more than 30% in October - even Toyota wasn't spared. Detroit wants $34 billion to shelter 3 million jobs and $300 billion worth of business. The first time the companies came calling, on Nov. 19 and 20, Congress blew a radiator. "Even though all Americans want this industry to succeed, I cannot support a plan to spend taxpayer money to bail them out" is the way Spencer Bachus, the ranking Republican on the Committee on Financial Services, got the House hearings going. The incoming Administration...
...recently as Nov. 25, Lorenzo Bini Smaghi, a member of the ECB executive board warned that cutting rates too sharply could contribute to destabilizing financial markets rather than help calm them. And Trichet seemed to echo that concern, refusing to give any clear guidance about what direction the ECB may take when it meets again in January. "For January, I say nothing. It's as simple as that," he said. "We have to be sure that what we are doing is really effective...
...Carmakers' Woes The U.S. government is considering a multibillion-dollar bailout for the Big Three auto companies [Nov. 24]. Why not help consumers at the same time? For three months, every time a new car is sold, the government should absorb half the list price, paying that sum directly to the car dealer. This discount available to the buyer could be reduced in stages during the rest of 2009. In return for this boost, the Big Three must agree to increase gas mileage and reduce car sizes. This scheme would keep most Detroit workers employed while avoiding the indiscriminate award...
...Motherless Children Thank you for highlighting the sad truth about the growing exodus of mothers from the Philippines [Nov. 24]. To many of us, it seems an irreversible phenomenon. Most overseas workers will tell you they had no choice but to leave. A mother's absence has consequences that are often felt intensely by children but not discussed. It's up to every Filipino - not just those who are compelled to work abroad - to think of ways to advance our society and keep our families together. Joy Posadas, Manila...