UConn Philosophy professor Michael Lynch wrote in a recent New York Times opinion piece, that we’re living in a “dangerous political moment.” Not just because of the shutdown of the federal government and the near default on the nation’s debts, but he writes: “The real damage is caused by the idea that that our current democratic form of government should be shuttered.” That a large segment of the population might think government really is a bad idea.
United Technologies reported a boost in third quarter earnings of 13 percent, at $1.55 per share, beating analysts' expectations. The Hartford-based conglomerate trimmed its full-year revenue estimates, however, because of the government shutdown and cuts in military spending.
General Electric saw a fall in third quarter profits, but investors sent shares up anyway, because of a record backlog of orders for the company.
Fairfield-based GE is considered a bellwether for the U.S. economy because of its wide reach across many industries. In the third quarter, profits fell by 18 percent to just over $3 billion, brought down by a fall in revenues at GE Capital, the conglomerate’s finance arm. The numbers were also hit by the expense of foreign currency transactions.
Originally published on Thu October 17, 2013 12:32 am
Bringing to an end an episode that once again exposed Washington gridlock at its worst, the House approved a Senate deal that will end a 16-day federal government shutdown and avert the first government default in U.S. history.
The 285-144 vote came at the eleventh hour, after weeks of partisan bickering and a very public airing of deep divisions within the Republican party. President Obama signed the bill into law after midnight Thursday.
Originally published on Wed October 16, 2013 10:23 pm
Update at 10:18 p.m.: House Approves Bill:
The crisis is over. With about two hours before the country reached the debt ceiling, the House has approved the bill and it is now it's way to the White House. We've posted separately on that development and we are putting this live blog to bed.
The Royal Swedish Academy of Sciences on Monday honored the three "for their empirical analysis of asset prices." The Nobel committees have now announced all six of the annual $1.2 million awards for 2013.
August saw a big boost in home sales in Connecticut, with 2,893 homes sold that month. It's the highest number of single family homes sold for that month in six years, up ten percent from the same month in 2012.
Prospective clients walk past yachts during the Millionaire Boat Show at the Royal Yacht Club in Moscow on Sept. 3, 2011. A new report says Russia has the highest rate of inequality in the world – barring some small Caribbean islands.