This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

BC-Business News Digest

â¿¿ FISCAL CLIFF-GLANCE â¿¿ Highlights of legislation aimed at averting wide tax increases and budget cuts scheduled to take effect with the new year.

Also:

SMALLBIZ-SMALL TALK

NEW YORK â¿¿ The fiscal cliff deal in Congress has removed a layer of uncertainty for small business owners. Some say they're now able to hire staffers and buy equipment, moves that were on hold because of the debate in Washington. But owners still have much to be anxious about. The deal puts off for two months decisions on federal budget cuts, which could mean less business for companies that have contracts with the government. The ongoing budget fight in Washington could also further stress the weak economic recovery. By Joyce M. Rosenberg.

AP photo

AVIS-ZIPCAR

PARSIPPANY, N.J. â¿¿ Avis Budget is buying Zipcar for $491 million, expanding its offerings to car sharing. The service has become a popular alternative to traditional car rentals in cities and on college campuses.

AP photo

BROKEN BUDGETS-MUNICIPAL PENSIONS

PROVIDENCE, R.I. â¿¿ In Philadelphia, pension costs doubled in a single decade. Cities in Rhode Island dimmed streetlights, raised taxes and put off road repairs. Stockton, Calif., fell into bankruptcy. Unpaid bills from decades of retirement promises made to public workers, combined with a lackluster economy and steep Wall Street losses, have built up a financial mountain that threatens to undermine budgets and operations in cities and counties across the country. While it's not gotten the attention of the fiscal cliff in Washington, the pension crisis at City Hall could have similar effects as mayors are forced to raise taxes, cut government services or renege on pension promises made to police officers, firefighters, teachers and other public workers. By David Klepper.

With:

â¿¿ BROKEN BUDGETS-MUNICIPAL PENSIONS-GLANCE â¿¿ From Atlanta to San Diego: The pension problems that threaten 7 cities' budgets

2 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,034.93 +208.63 1.17%
S&P 500 2,100.40 +19.22 0.92%
NASDAQ 4,994.6020 +62.7870 1.27%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs