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With the U.S. economy showing signs of life, here is another reason to think the recovery may be for real: Americans are making rapid
progress shedding debt, according to McKinsey. Since 2008, all types of U.S. private-sector debt -- such as mortgage, credit card and corporate loans -- have fallen as a percentage of the broader economy, the management consulting firm says in a new report. Household debt in the U.S. has fallen a total of $584 billion over the last four years, a 15 percent decline relative to people's overall disposable income. Debt carried by businesses has also declined. McKinsey concludes:
Posted by Linda H on 5:18:00 AM
Amtrak this year will pay $466 million for 70 new locomotives to enhance the speed and reliability of rail service in the Northeast corridor and invest another $298 million in 130 new rail cars to serve the East Coast and Midwest.
The new equipment will be a major upgrade for a system that now operates with locomotives that are 20 to 30 years old and some sleeper cars that are 60 years old, Amtrak President Joe Boardman said in announcing the federally subsidized passenger rail line’s plans for 2012.
Posted by Linda H on 4:57:00 AM
GAUTIER, Miss. — Federal and state officials have presented plans to hold BP to its promise to make the Gulf whole in the wake of the 2010 oil-spill disaster.
There are two projects proposed on the Mississippi Gulf Coast.The Mississippi projects, which were announced in December, are the Mississippi Oyster Cultch Restoration in Hancock and Harrison counties, which includes 1,430 acres of cultch restoration to benefit oysters in the Mississippi Sound, at an estimated cost of $11 million; and Mississippi Artificial Reef Habitat in Hancock, Harrison and Jackson counties, involving 100 acres of nearshore artificial reef, at an estimated cost of $2.6 million.
Apple Needs to Make it in America
