| Lawmakers reach tentative stimulus agreement
February 6, 2009 at 10:03 pm
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|  U.S. senators began debate on a massive economic-recovery package Friday evening, after a working coalition of Democrats and some Republicans reached a compromise that trimmed billions in spending from an earlier version. |
| State regulators close three banks
February 6, 2009 at 9:53 pm
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|  State regulators shuttered three banks Friday evening, bringing the total number of bank failures this year to nine. |
| Big rally on Wall Street
February 6, 2009 at 5:14 pm
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|  Bank and housing shares led a broad rally Friday as optimism about the government's economic stimulus bill and the new version of the bank bailout plan countered unease following the brutal January jobs report. |
| Low rates defuse 'exploding' ARMs
February 6, 2009 at 4:28 pm
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|  A wave of resetting adjustable rate mortgages had been poised to add to the flood of foreclosures as their rates jumped. |
| Bond market calls the Fed's bluff
February 6, 2009 at 4:19 pm
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| There's an interesting battle royale going on in the Treasury market. |
| Consumer credit: Third straight monthly drop
February 6, 2009 at 4:07 pm
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|  Consumer borrowing tumbled for the third consecutive month in December as the faltering economy continues to pressure households to curb spending. |
| Car brands for sale, but who's buying?
February 6, 2009 at 3:57 pm
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| Depression-era conditions in the auto industry means lots of assets for sale. More brands may change hands than at any time since the late 1980s. Trouble is, nobody seems to have the interest - or the equity - to make a deal. |
| Obama's week ahead: Game on
February 6, 2009 at 3:36 pm
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|  Now it's really crunch time. |
| Oil hit by jobs report
February 6, 2009 at 3:14 pm
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|  Oil prices fell near $40 a barrel in a volatile session Friday after a dismal labor market report renewed concern about falling demand, and stifled optimism stemming from the stimulus bill being debated in Congress. |
| The view from Maine Street
February 6, 2009 at 3:06 pm
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|  In Brunswick, Maine, the road running through the center of the town is spelled like the state: Maine Street. It's quintessential New England, picturesque and steeped in history - and like so many other downtown districts around the country, Maine Street is filled with small businesses struggling to survive the ongoing recession. But Maine Street's business owners will soon be looking to one of their own for help, when local resident Karen Gordon Mills takes charge as the new head of the Small Business Administration. |
| Harvard pink slips 25% of its money managers
February 6, 2009 at 2:09 pm
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|  Read full story for latest details. |
| A good job with a high school diploma
February 6, 2009 at 1:37 pm
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|  Unemployment is at a 16-year high and with the economy bleeding jobs. Is there hope for someone who doesn't have a college degree to fall back on? |
| Former Fed chairman to head economic board
February 6, 2009 at 1:24 pm
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|  President Barack Obama tapped an old Washington veteran Friday to help craft the administration's fiscal policy, naming former Federal Reserve Chairman Paul Volcker to lead a new economic advisory board. |
| Democrats mull cuts to schools in stimulus plan
February 6, 2009 at 1:09 pm
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|  A key compromise over the $900 billion economic recovery plan entered a pivotal phase Friday, with Democrats wrestling over potential cuts to the proposal that include billions slashed from education spending. |
| States to Congress: Send money fast
February 6, 2009 at 12:52 pm
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|  Massachusetts state workers and retirees face higher deductibles and co-pays on their health insurance. |
| Kindle sparks excitement for e-books
February 6, 2009 at 12:34 pm
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|  Read any good e-books lately? It's a question coming soon to a water cooler near you. |
| Um, about that raise...
February 6, 2009 at 12:05 pm
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|  It's not just CEOs and White House staffers who won't be seeing anything more in their paychecks this year. |
| 'Bad bank,' raw deal, a better idea
February 6, 2009 at 11:48 am
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| No matter how it operates, a government-run "bad bank" is bound to be disastrously bad. It would be hard to design a plan more certain to fail at achieving the three main goals in salvaging the nation's banking system: boosting banks' capital, protecting taxpayers, and avoiding nationalizations. |
| How Wall Street wants to solve the credit crisis
February 6, 2009 at 11:42 am
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| So far the Obama Administration's talk about fixing the economy through buying toxic assets, creating a bad bank, and deploying more TARP funds has left many financiers cold. That's why some leading Wall Street heavyweights including Thomas Flexner, the global head of real-estate investment banking at Citigroup, Wes Edens, the CEO of Fortress Group, and Barry Sternlicht, CEO of Starwood Capital Group, have been quietly circulating their own proposal. FORTUNE recently obtained a copy. |
| Stimulus: No quick fix for stocks
February 6, 2009 at 11:34 am
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|  The word "infrastructure" was once used mainly by SAT tutors and civil engineers, but now it's this year's hot investing theme. |
| Online marketing's bright spot: In-text ads
February 6, 2009 at 11:16 am
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| It's been a bad couple of months for the online advertising business. Those banner advertisements that run on the top and sides of websites? Down, by many measures. Search advertising, consisting of sponsored links that turn up on Google and other sites? Holding up, but not growing like it used to. |
| Rupert Murdoch's tarnished trophy
February 6, 2009 at 11:15 am
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| Rupert Murdoch isn't easily outfoxed. But the Bancroft family, which sold him Dow Jones, publisher of the Wall Street Journal, looks to have got the better of the media mogul. |
| Will a low credit score hurt my job chances?
February 6, 2009 at 10:35 am
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|  Question 1. I have been looking for a job for seven months. I got an offer for the perfect job. But my credit score is in the high 500s. Will this hurt my chances of getting the job? Should I explain this to HR in advance? Janet, Georgia |
| Oil slips to $39 after jobs report
February 6, 2009 at 9:55 am
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|  Read full story for latest details. |
| Stocks rally despite job losses
February 6, 2009 at 9:42 am
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|  Financial stocks rallied Friday morning, pushing the broader market higher as investors accepted massive January job losses, and tried to look ahead to the government's stimulus plan and new version of the bank bailout. |
| 'Cash for Clunkers' pulled from stimulus
February 6, 2009 at 9:38 am
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|  Read full story for latest details. |
| Dollar mixed after dismal jobs report
February 6, 2009 at 9:38 am
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|  The dollar fell slightly against the euro but rose against the yen Friday, after a U.S. government report showed the economy shed more than half a million jobs for an unprecedented third month in a row. |
| Killer car deals out there...somewhere
February 6, 2009 at 9:30 am
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|  With auto sales at their lowest levels in 26 years, getting a good deal should be a breeze. But even with deep discounts and generous incentives, what one dealer will charge - compared to another - would still surprise you. |
| An entrepreneur struggles to shake off her past
February 6, 2009 at 9:23 am
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| Debra Cullen (not her real name) has spent her life trying to keep things the same. "I don't like change," Cullen told me during our first therapy session. But her life has changed, and she's at a loss. |
| VoIP comes of age
February 6, 2009 at 9:18 am
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|  Businesses large and small plan to increase their use of voice over Internet Protocol (VoIP) telephony during the next two years, according to a recent British Telecom survey. Their objectives include increasing collaboration and lowering voice toll costs outside the office. |
| Take this TARP and shove it? Not so fast.
February 6, 2009 at 9:11 am
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|  Some major financial firms are getting anxious about giving back the billions in U.S. government rescue funds they took hold of late last year. But it may not be that simple. |
| Job loss: Worst in 34 years
February 6, 2009 at 9:10 am
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|  Employers slashed another 598,000 jobs off of U.S. payrolls in January, taking the unemployment rate up to 7.6%, according to the latest government reading on the nation's battered labor market. |
| Treasury prices mixed after jobs report
February 6, 2009 at 8:48 am
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|  Bond prices gave up most of their earlier gains, after the government's monthly unemployment report came in worse than expected. |
| Madoff whistleblower gives SEC new tips
February 6, 2009 at 8:11 am
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|  Harry Markopolos, the fraud investigator who was repeatedly rebuffed by the Securities and Exchange Commission in his efforts to blow the whistle on Bernard Madoff, Thursday presented SEC Inspector General David Kotz with evidence of two new potential cases of investment fraud. |
| Obama to name experts for economic panel
February 6, 2009 at 6:42 am
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|  Read full story for latest details. |
| Give your basement an extreme makeover
February 6, 2009 at 6:06 am
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|  Though Beth and Ken Wilson's 5,000-square-foot, four-bedroom home in Union, Ky. wasn't exactly cramped when they bought it in 2005, they yearned for a space that could accommodate the passions of their two oldest sons (their three boys are now 17, 12 and 2) yet allow adults to enjoy activities too. So shortly after they purchased the home, the couple decided to turn the house's dark, mostly unfinished 2,000-square-foot basement into a livable lower level. |
| 401(k): Cut losses or stay the course?
February 6, 2009 at 5:16 am
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|  Questions: I currently contribute 10% of pay to my company retirement savings plan -- my employer matches half of that amount -- and I'm heavily invested in both domestic and foreign stock index funds. I plan to retire in 16 years. Should I continue to ride out this market with risky funds or should I think about cutting back my losses? --Mike, Washington, DC |
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Read full story for latest details.
The Obama administration is about to face its first significant financial test.
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