CSBJ Daily

One week before its scheduled policy meeting, The Federal Open Market Committee cut the federal funds target rate by 75 basis points today, lowering the key rate to 3.5 percent.
“This is an affirmation of our worst fears – we are not in a position that can be reversed at this point,” said […]

The Associated Press
Hurt by the deepening credit crisis, Bank of America Corp. said Tuesday its fourth-quarter earnings fell 95 percent, and Wachovia Corp. reported its earnings tumbled 98 percent.
Net income at Bank of America, the nation’s second-largest bank, dropped to $268 million, or 5 cents per share, in the three […]

The Associated Press
Defense contractor Raytheon Co. is selling technology to a large oilfield services firm that hopes microwaves will someday become a key tool in unlocking the vast but hard-to-extract oil reserves in the West’s underground shale deposits.
Much as a microwave oven heats food, Raytheon’s technology relies on microwaves to […]

Researchers have different opinions about economic trends in the construction industry, based on 2007 data.
For the year, McGraw Hill reported total construction was down by 11 percent last year, compared to a 3-percent drop during 2006.
Modest declines were reported for nonresidential building and non-building construction (public works and utilities), which […]

The Greater Colorado Springs Chamber of Commerce will host the State of the Region Luncheon Jan. 30 at Norris Penrose Event Center, 1045 W. Rio Grande St.
The State of the Region presentation will include an open dialogue about the future of El Paso County and a reflection on […]