The credit crisis is spreading like a bad flu. It's affecting construction, automakers and retail outlets. And, as reporter Steve Henn learns, more layoffs are on the way.
Layoffs were at a staggering 95,000 employees in September, with the financial industry the fourth-largest job cutter. Dan Grech reports Wall Street's bad numbers will start to show in a few weeks.
Marketplace's financial road trip continues this morning in Charlotte, N.C., where New York City Bureau Chief Amy Scott explores the wide effects Citigroup's purchase of Wachovia's banking business has on the city.
Today GM executives will announce a new $359 million auto plant opening in distressed Flint, Mich. Workers there will build fuel-efficient engines for the Volt and Cruze models. Mitchell Hartman reports.
Almost 2 million people have returned from the wars in Iraq and Afghanistan. One in five doesn't have a job. One in four makes less than $22,000 a year. Nancy Marshall Genzer reports.
And now, the fallout. More of the same seems to be the common prediction. As for who next, AIG seems to have been nominated for that post. Stacey Vanek Smith asks economist Christopher Low for his take.
Lehman has failed, Merrill Lynch is now the property of BofA and Wall Street is abuzz over what's next. Stacey Vanek Smith asks with the head of an investment firm, just how serious is this?
With unemployment up, community colleges' enrollments are rising too. Many schools are short on funds and are having trouble handling the spike, especially in California where politicians are late in approving the state budget. Julie Small reports.
Most large businesses set ergonomics standards for themselves, but small and large businesses worry about the cost if federal standards are adopted. Rachel Dornhelm reports on a forum being held today.
With the jobless rate up over 6 percent, more people are receiving unemployment benefits and staying on unemployment. That means states are struggling more to pay the bill. Dan Grech reports.
