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Business News
- The Federal Reserve announced Tuesday a radical plan to buy massive amounts of short-term debt in a dramatic effort to break through a credit clog that is imperiling the economy.
- Stocks fell in quiet trading Tuesday as enthusiasm over the Federal Reserve's latest efforts to inject frozen credit markets with a dose of much-needed confidence gave way to concerns about the balance sheets of some financial companies. Trading remained fractious, and the major indexes alternated between gains and losses a day after the market suffered another huge drop.
Tonight's debate is in McCain's favorite style- Tuesday night's presidential debate offers Republican John McCain one of his last best chances to stop Democrat Barack Obama's recent surge in the race and turn it in his favor.
- A federal judge has ordered the release of a small group of Chinese Muslims from Guantanamo Bay into the United States.
- Executives at American International Group Inc. hid the full range of its risky financial products from auditors as losses mounted, according to documents released Tuesday by a congressional panel examining the chain of events that forced the government to bail out the conglomerate.
3 win Nobel for subatomic physics research- Two Japanese citizens and an American won the 2008 Nobel Prize in physics on Tuesday for discoveries that help explain the behavior of the smallest particles of matter.
Nepal appoints 3-year-old as new living goddess- Hindu and Buddhist priests chanted sacred hymns and cascaded flowers and grains of rice over a 3-year-old girl who was appointed a living goddess in Nepal on Tuesday.
Esquire names Halle Berry 'sexiest woman alive'- Alongside a photo spread that shows her in little more than a T-shirt, Halle Berry talks about being the sexiest woman alive, a title Esquire magazine gives her in its November issue.
- New York Yankees closer Mariano Rivera had surgery Tuesday on his right shoulder and is expected to resume throwing in three months, a month ahead of spring training.
Home Builders Issue Call for Action on Economy
SEATTLE
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Brian Catalde, president of the National Association of Home Builders (NAHB), issued the following statement today from the association's Fall Board of Directors meeting in
"In light of the significant decline in employment reported today, NAHB and its 2,800 board members call on the Administration, Congress and federal regulators -- along with stakeholders in the private sector ??- to work in concert to prevent further deterioration in the housing market and erosion of growth in the nation's economy. Today's job report jolted Wall Street, demonstrating the paramount importance of restoring consumer and investor confidence in the U.S. economy and housing market."
ABOUT NAHB: The National Association of Home Builders is a Washington-based trade association representing more than 235,000 members involved in home building, remodeling, multifamily construction, property management, subcontracting, design, housing finance, building product manufacturing and other aspects of residential and light commercial construction. Known as "the voice of the housing industry," NAHB is affiliated with more than 800 state and local home builders associations around the country. NAHB's builder members will construct 80 percent of the more than 1.45 million new housing units projected for 2007.
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