Business

27 October 2007

In the news Saturday

Coors

(AP Photo/Eric Gay)

SoCal wildfire pollution poses health threat

Auto workers OK 4-year pact with Chrysler

Democrats lash out at GOP over children's health program

Turkish prime minister vows fight with Kurds 'when needed'

Red Sox a mile high in Denver with 2-0 lead

Caption:The Colorado Rockies take batting practice at Coors Field in Denver on Friday The Rockies will face the Boston Red Sox in Game 3 today of baseball's World Series. Boston leads the best-of-seven games series 2-0.

--Paul Chavez

26 October 2007

INSIDER INSIGHT: The buzz at NowPublic

The latest reports on the California wildfires -- including an AP story on the impact of red tape on response times -- are dominating the attention of contributors to NowPublic, the "crowd-powered media" site The Associated Press is working with to selectively incorporate citizen journalism -– especially photos and video -– into its news report.

NowPublic contributors are also debating the new route for the next Tour de France, and some are salivating over a new Honda motorcycle.

Listen to this audio clip to learn more from NowPublic's Brian Kennedy.

-- Eric Carvin

High price of oil

Crude oil prices spiked above $92 a barrel Friday.

Why? Tensions in the Middle East and renewed concerns about supply.

The United States announced new sanctions against Iran on Thursday, and a confrontation between the world's largest oil consumer and its fourth largest oil producer could upend markets.

Also, a threatened incursion by Turkish armed forces into Iraq would cut oil supplies out of northern Iraq. Turkey has warned it will decide whether to cross into Iraq in pursuit of Kurdish guerrillas regardless of U.S. objections.

On Thursday, Organization of Petroleum Exporting Countries Secretary General Abdalla el-Badri told The Wall Street Journal Asia the cartel is not in discussions to boost production by 500,000 barrels.

For more, check out this AP story by Pablo Gorondi.

-- Jaime Holguin

In the news Friday

Fire (AP Photo/Damian Dovarganes)

Straight from the AP wires:

Fire evacuees seek return to normal
Astronauts begin first spacewalk
Fight over child health care persists
Mideast leaders work on joint statement
Fenway happy as Red Sox lead series 2-0

-- Jaime Holguin

25 October 2007

INSIDER INSIGHT: The buzz at NowPublic

Arson in California, Turks and Armenians fighting in Belgium and the first passenger flight of the superjumbo A380 are dominating the attention of contributors to NowPublic, the "crowd-powered media" site The Associated Press is working with to selectively incorporate citizen journalism -– especially photos and video -– into its news report.

Listen to this audio clip to learn more from NowPublic's Brian Kennedy.

-- Eric Carvin

In the news Thursday

Fires (AP Photo/Mark J. Terrill)

Straight from the AP wires:

Calif. fires may be at a turning point
Military may get control of contractors
Iraqi delegation to visit Turkey
Looking for an excuse? Company has many
Red Sox cool off Rockies 13-1 in Game 1

-- Jaime Holguin

24 October 2007

Wars may cost U.S. $2.4 trillion over decade

Troops

(AP Photo/Sgt. Timothy Kingston, U.S. Army)

The number crunchers at the nonpartisan Congressional Budget Office have tallied how much the wars in Iraq and Afghanistan will cost over the next decade: $2.4 trillion.

Just to be clear, that's $2,400,000,000,000.

WHITE HOUSE REACTION:

"It's just a ton of speculation," said White House press secretary Dana Perino. "We don't know how much the war is going to cost in the future."

SPENDING SO FAR: According to the analysis, the U.S. has spent about $604 billion on the wars, including $39 billion in diplomatic operations and foreign aid.

For more on the spending forecast, read this report filed today out of Washington by Anne Flaherty.

Caption: Two U.S. Army soldiers from Alpha Company, 1st Battalion, 10th Artillery Regiment, 3rd Brigade Combat Team, 3rd Infantry Division dismount from the back of a Bradley Fighting Vehicle earlier this month to conduct a cordon and search at a brick factory in Narahwan, Iraq.

--Paul Chavez

Home sales plunge

Pittsburgh_condos_rumb (AP Photo/Keith Srakocic)

It's a buyer's market!

Real estate sales are falling by record amounts. Sales of existing homes fell 8 percent in September, according to National Association of Realtors. That's the largest drop to show up in records since 1999. AP Economics Writer Martin Crutsinger said analysts expected a 4.5 percent drop in sales. The turmoil in the mortgage and credit markets is being blamed for the bigger drop.

More bad news:

  • The seasonally adjusted annual sales rate of 5.04 million existing homes was also the slowest pace on record.
  • The median price -- the point at which half the homes sold for more and half for less -- fell to $211,700 in September, down by 4.2 percent from the sales price a year ago. It marked the 13th time out of the past 14 months that the year-over-year sales price has decreased.
  • Lawrence Yun, senior economist for the Realtors, forecast that prices will decline by about 1.5 percent this year.

-- Howie Rumberg

22 October 2007

What NASA doesn't want you to know about the airline industry

Nasasurvey (AP Photo/Tony Gutierrez, file)

"Release of the requested data, which are sensitive and safety-related, could materially affect the public confidence in, and the commercial welfare of, the air carriers and general aviation companies whose pilots participated in the survey."

That's what a senior NASA official wrote in a final denial letter to the Associated Press, after the AP sought to obtain results from an unprecedented national survey of pilots that found safety problems like near collisions and runway interference occur far more frequently than the government previously recognized.

The AP learned about the NASA results from one person familiar with the survey who spoke on condition of anonymity because this person was not authorized to discuss them. The AP sought to obtain the survey data over 14 months under the U.S. Freedom of Information Act.

For more, check out this AP Impact story by Rita Beamish.

-- Jaime Holguin

Former spy catcher can call your bluff

Poker (AP Photo/Seth Wenig)

If you're a poker fan, you'll definitely want to check out this story by AP's Pat Milton.

It's about a former FBI spy catcher who's now bringing his investigator's eye to the poker table and sharing his decoding techniques with players eager for an edge in the world of professional poker.

Joseph Navarro says he can size up anyone -- even professional card sharks -- by observing their behavior for mere minutes.

Here's one of his quick tips: When players are confident, they tend to use their hands more and claim more territory at the table. When they have good hands, they generally look down at their chips.

-- Jaime Holguin