Department of Commerce

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Obama: Gregg's Withdrawal 'Something of a Surprise'

(Newser) - President Obama—now 0 for 2 on commerce nominations—said Judd Gregg's decision to back out today came as a "something of a surprise," the State Journal-Register of Springfield reports. "The truth, you know, Mr. Gregg approached us with interest and seemed enthusiastic," said Obama. The...

Deep-Red Gregg Is a Strange Fit for Obama
Deep-Red Gregg Is a Strange Fit
for Obama
Analysis
Feb 4, 2009 1:53 PM CST

Deep-Red Gregg Is a Strange Fit for Obama

Commerce nom tried to get rid of agency, but is bridge to big business

(Newser) - Judd Gregg is a fairly bizarre choice for commerce secretary, Pete Engardio writes in BusinessWeek, considering the Republican senator once called for the elimination of the Commerce Department. Gregg is a true fiscal conservative, who’s voted against bills to tighten emission standards, raise taxes on gas producers, and negotiate...

Gregg to Take Commerce Job
 Gregg to Take Commerce Job 
Feb 3, 2009 3:11 AM CST

Gregg to Take Commerce Job

NH governor will name new GOP senator

(Newser) - New Hampshire GOP Sen. Judd Gregg is accepting the post of commerce secretary, reports CNN. The state's Democratic governor has agreed to name another Republican to replace Gregg in the Senate, leaving the balance of power unchanged. If that deal hadn't been struck, Gregg would have turned down the commerce...

GOP Says It Will Keep Gregg's Senate Seat

Sources say Lynch would appoint interim GOP member

(Newser) - Republicans say they have a deal in place to make sure that if Barack Obama picks Judd Gregg to head the Commerce Department, they won't lose that 41st seat they need to mount a filibuster. Officials expect New Hampshire Gov. John Lynch to pick his former chief of staff Bonnie...

GOP Desperate to Keep Gregg in Senate
GOP Desperate to Keep Gregg
in Senate
Jan 31, 2009 11:26 AM CST

GOP Desperate to Keep Gregg in Senate

If he takes Commerce, they want NH governor to pick a Republican

(Newser) - Republicans are stepping up efforts to keep Judd Gregg from jumping to Barack Obama’s Cabinet, or, failing that, to convince New Hampshire’s Democratic governor to pick a Republican to replace him. Otherwise, Democrats would gain a filibuster-proof 60-seat majority. “It would be a loss to the Senate...

Caucus Pushes for Black Commerce Secretary

Obama considering Symantec CEO—and a GOP senator

(Newser) - The Congressional Black Caucus is lobbying President Obama to name a black commerce secretary. The caucus is pushing for technology executive John Thompson, CEO of software security company Symantec and an Obama contributor, to fill the post, reports the Hill. Obama has so far appointed only four African Americans to...

Mumbai Gets Back on Its Feet
 Mumbai Gets Back on Its Feet 
OPINION
Jan 14, 2009 6:41 AM CST

Mumbai Gets Back on Its Feet

The city returns to business as usual after terrorist attacks

(Newser) - For those who need proof of Mumbai's resilient spirit, look no further than Cafe Leopold, writes Saritha Rai of GlobalPost. It still bears bullet and grenade scars, but it is nevertheless jammed every day with tourists and local residents. "Leopold, the site of the first terrorist attack on the...

What Embargo? HP Printers Find Their Way to Iran

Company skirts US law with help from overseas distributor

(Newser) - HP printers have become top-sellers in Tehran, despite a 13-year embargo against US companies doing business with Iran, the Boston Globe reports. An Indian-owned distributor sells HP products in Iran, enabling it to skirt American law. But questions remain: If HP execs cut the deal with Redington Gulf knowing their...

Richardson-to-Commerce Pick to be Official Tomorrow

Richardson would lead economic revival policy

(Newser) - President-elect Obama is expected to announce Bill Richardson's appointment as secretary of commerce tomorrow, Reuters reports, the latest in a string of cabinet announcements. In his new role, the New Mexico governor will lead the charge to revive the nation's economy. Richardson will be the first Latino in Obama’s...

NY Fed Prez Lands Top Job at Treasury

Speculation about Commerce gig surrounds Richardson

(Newser) - The Obama transition team has settled on a treasury secretary nominee, NBC reports: Timothy Geithner, the president of the New York Fed. The announcement is expected to come Monday, when the president-elect will announce his entire economic team in an attempt to quell the unrest surrounding the financial markets....

Recession in China Could Sink Regime
 Recession in China 
 Could Sink Regime 
analysis
Nov 18, 2008 5:54 PM CST

Recession in China Could Sink Regime

Regime worries as angry workers take to the streets

(Newser) - Beijing's grip on power in recent years has relied on a simple agreement with its citizens: "Tolerate our authoritarian rule and we'll make you rich,” writes Joshua Kurlantzick in the New Republic. But with the nation's economy on the rocks, that agreement is now breaking down. If Beijing's...

Green Energy Jobs: Will They Save the Economy?

Obama's plans for investment in renewable energy turn cost into benefit

(Newser) - Barack Obama's ambitious plans to use green energy investment to rev up the economy are igniting fierce debate over the math behind them, the Wall Street Journal writes. The president-elect says $150 billion in investment will create five million jobs over the next decade, in construction and installation. Critics charge...

Gas Prices Lowest in Year
 Gas Prices Lowest in Year 
Oct 21, 2008 2:14 AM CDT

Gas Prices Lowest in Year

Lower gas worth $1000 a year for families

(Newser) - The price of gasoline has dropped to its lowest level in a year, Reuters reports. The national average price for a gallon of regular unleaded is $2.91, a drop of 57 cents per gallon in just the last two weeks. Gas is most expensive in San Francisco, at...

Palin Billed State to Live at Home

Gov. charged per diem home fee, and family got $43K in travel expenses

(Newser) - Sarah Palin charged the state of Alaska nearly $17,000 in per diem fees for 312 nights she spent at her Wasilla home, even though she had moved with her family to the state capitol of Juneau before the legislative session last year, reports the Washington Post. The state has...

Stocks Send Mixed Messages
 Stocks Send Mixed Messages 
MARKETS
Sep 3, 2008 3:36 PM CDT

Stocks Send Mixed Messages

Falling oil prices have lost their ability to spur gains in equities

(Newser) - The markets saw mixed gains today as investors weighed falling oil, mildly positive manufacturing news and another big drop in domestic auto sales, the Wall Street Journal reports. The Dow closed up 15.96 at 11,532.88. The Nasdaq added 15.51 to close at 2,333.73, and...

Stocks Rally on GDP Revision
 Stocks Rally on GDP Revision
MARKETS
Aug 28, 2008 3:15 PM CDT

Stocks Rally on GDP Revision

MBIA's jump leads insurers higher, and lower energy prices power big gains

(Newser) - Stocks rallied today as MBIA led gains for bond insurers and the news of an upward revision to the second-quarter US gross domestic product brightened investor sentiment, MarketWatch reports. The Dow rose 212.67 to close at 11,715.18. The Nasdaq gained 29.18, closing at 2,411.64,...

GDP Grew More in Q2 Than First Reported
GDP Grew More in Q2
Than First Reported
Economy
Aug 28, 2008 12:06 PM CDT

GDP Grew More in Q2 Than First Reported

Commerce Department revision shows healthier growth

(Newser) - GDP growth was higher than initially reported in the second quarter, the Wall Street Journal reports. Commerce Department revisions put the increase at a seasonally adjusted 3.3% annual rate—the original estimate was 1.9%. Businesses decreased their inventories less than previously thought. At the same time, exports rose...

Street Rallies on Retail, Jobs
 Street Rallies on Retail, Jobs 
MARKETS
Jun 5, 2008 3:17 PM CDT

Street Rallies on Retail, Jobs

Wal-Mart among big winners as indices rebound from 3 days of losses

(Newser) - The markets rebounded from a 3-day losing streak today as retailers posted strong sales and weekly claims for jobless benefits fell, the Wall Street Journal reports. The Dow climbed 213.97, closing at 12,604.45, and the Nasdaq gained 46.80 to settle at 2,549.94. The S&...

Markets Up in Rollercoaster Day
 Markets Up in Rollercoaster Day 
MARKETS
May 28, 2008 3:34 PM CDT

Markets Up in Rollercoaster Day

Dow posts modest gain on mixed news

(Newser) - Stocks rose, fell, and rose again as mixed economic news pulled the market in opposite directions today, the Wall Street Journal reports. The Dow ended up 45.68, at 12,594.03. The Nasdaq climbed 5.46 to 2,486.70, and the S&P 500 rose 5.49 to...

Housing Starts Hit 17-Year Low

March starts plummet 11.9% as foreclosures create glut on market

(Newser) - Foreclosures and a glut of unsold homes flooding the market were blamed for an 11.9% drop in new housing starts last month, more than twice the slide economists had predicted, reports Bloomberg. Starts are at the lowest level since March 1991, according to the Commerce Department, casting a pall...

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