On Thursday, American Airlines and US Airways officially announced their long-rumored merger. And Warren Buffett's Berkshire Hathaway said it made a match with Ketchup giant Heinz, in a deal worth billions.
A $60 billion Sandy relief package passed the Senate in December, but House leadership reneged on its pledge to pass the bill before the end of the session.
The Senate deal permanently raises income taxes for individuals making more than $400,000 a year. It delays — for just two months — most of those automatic spending cuts that were set to kick in. And it includes a number of other provisions to stave off the most pressing aspects of the fiscal cliff.
It was called "Plan B" — a way to avoid some of the tax increases that are part of the fiscal cliff without putting together a
broad bipartisan deal before the New Year.
Not all lawmakers at the end of their term are ready for retirement. An executive recruiter talks about how these "former electeds" make their way into the private sector.