Organic farm profits nearly double in 2007 Organic farmers saw more than one type of green in 2007. A study tracking 45 organic producers in Minnesota found their profits nearly doubled thanks to the high prices their products can yield.7:55 a.m.
Investors Feel The Pain of Lehman Bros. Collapse
Wall Street lost more than 500 points Monday reacting to the bankruptcy of Lehman Brothers and the sale of Merrill Lynch. It was the worst loss since the Sept. 11, 2001, attacks. Adding to the misery is insurance giant American Insurance Group, which is facing serious trouble.
Is Your Nest Egg Safe From Credit Crisis?
Day after day of bad news on Wall Street has left some Americans worrying over the fate of their investments. But those who work in the financial services are suggesting that people stay calm and ride out the crisis.
Texas Livestock A Casualty Of Hurricane Ike
Many small towns in Texas have been devastated by Hurricane Ike. The agricultural community of Fannett, Texas, was flattened by the storm. Residents are returning in hopes of reclaiming what was left behind. But many are finding their valuable livestock dead.
Soccer Net Death Sparks Recall, Months Later
A type of small soccer goal is being recalled after its maker, Regent Sports Corp., received two reports of children getting tangled in the net. In one case, a toddler died after getting his head caught. The goals were manufactured in China.
House And Senate Toil On Energy Package
Lawmakers have arranged a series of votes this week on energy policy. Even though some bills may pass, they are unlikely to become law. Still, members of Congress campaigning for re-election will use the vote to show how serious they are about combating high oil prices.
McCain: 'I Know Americans Are Hurting Now'
The financial crisis on Wall Street has made its way into the presidential campaign. Both major party nominees are taking stances on how they would manage the turmoil. On Monday, Republican presidential nominee John McCain blamed the problems on a broken regulatory system and corporate greed. He said the fundamentals of the economy are at risk.
Obama Vows To Battle Credit Crisis
Democrat Barack Obama on Monday blamed lax oversight and loose regulation for the financial breakdown. The Illinois senator attacked comments made by Republican rival John McCain and his idea of trickle-down economics.
HP To Cut 24,000 Jobs After EDS Takeover
Hewlett-Packard announced Monday it will slash nearly 8 percent of its work force during the next three years. HP is restructuring as it integrates its newly acquired technology services company, Electronic Data Systems Corp. Most of the job cuts will be EDS workers. HP is reducing its work force so it can cut costs and better compete with IBM.
Asian Markets React To Wall Street's Carnage
Stock markets in Asia took a big hit Tuesday after Wall Street's 504-point drop on Monday. Most Asian markets were closed Monday for a holiday, so Tuesday was the first time investors reacted to the news of Lehman Brothers' bankruptcy and Merrill Lynch being bought by Bank of America.
'Forbes' Editor: Credit Crisis Not Over Yet
Lehman Brothers' decision to declare bankruptcy has rocked Wall Street. Bob Lenzner, national editor at Forbes magazine, says he feels like he's watching a boxing match because there have been many rounds of financial failures beginning with the subprime market. He believes the credit crisis is not over yet.