The city of San Bernardino, Calif., is expected to declare a fiscal emergency, and officially file for bankruptcy on Wednesday. The declaration would be the third by a California city in recent weeks. Some analysts believe San Bernardino's problems may be more about its dysfunctional local politics.
Corporations pay a lot of money to be official Olympic sponsors, so there are strict rules about who can and can't use the games to promote their products — rules the Olympic Committee isn't shy about enforcing. Just ask a group of knitters who recently got a cease and desist letter from the USOC.
Federal Reserve Chairman Ben Bernanke offered a downbeat assessment of the U.S. economy at a Senate panel hearing Wednesday. He said the economy is still growing, but its pace slowed in the second quarter.
These days, it is unusual to see people with pagers on their belts. The hot accessory and workplace essential has mostly been replaced by the cellphone. Pagers now are used primarily by people in the health care industry.
Is the U.S. housing sector about to make a comeback? Home builders apparently think so. Every month, the National Association of Home Builders publishes its housing market index. The July report shot up to its highest level in five years. It is, however, still well below historical averages.
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