WASHINGTON (AP) — Shoppers won’t shop. Companies won’t hire. The government won’t spend on economic stimulus — it’s cutting instead. And the Federal Reserve is reluctant to do anything more. Without much to invigorate growth, the economy may be in danger of slipping into a stupor like the one Japan has failed to shake off […]
economy
Posted inBusiness, Nation / World, sj-web
Stocks continue to slide day after big sell-off
Indexes dove in early trading but recovered much of their losses by late morning. The Dow Jones industrial average was down 36 points, recovering from an earlier loss of 166. Now that a default in U.S. debt has been averted, investors are becoming increasingly focused on the poor state of the U.S. economy. Shortly after […]
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Posted inBusiness, Nation / World, sj-web
Revisions show deeper 2007-2009 recession
From the start of the recession at the end of 2007 to the end in June of 2009, the U.S. economy shrank 5.1 percent. That is 1 percentage point worse than the previous estimate that the recession reduced total output during that period by 4.1 percent. The new estimates emerged from the annual revision of […]
Posted inMaine, sj-web
Report: Maine judges’ salaries low
PORTLAND, Maine (AP) — New statistics back up the claim that judges’ salaries in Maine are among the lowest in the nation. The National Center for State Courts says Maine ranked 47th among states in 2010, paying state judges about $112,000 per year. Experts say that if salaries aren’t competitive, then attorneys would be less […]
Posted inMaine, sj-web
Lawmakers cheer as Maine’s 2011 session ends
AUGUSTA, Maine (AP) — To the applause and cheers of lawmakers, the 2011 Maine legislative session ended Wednesday evening with Gov. Paul LePage and leaders of both parties ticking off a list of accomplishments during the past six months including lowering taxes, overhauling health insurance and easing state regulations. While highlighting successes they accomplished in […]
Posted inBusiness, Maine, sj-web
LePage to lead trade mission to Brazil, Chile
Gov. Paul LePage will lead his first international trade mission this fall, visiting Brazil and Chile with a delegation of Maine businesses. The group will visit Sao Paulo, Brazil and Santiago, Chile, and will be first trip to South America by a Maine governor since 1997. “We have received great interest in these developing markets […]
Posted inMaine, sj-web
Maine governor signs $6.1 billion, 2-year budget
AUGUSTA, Maine (AP) — Majority Republicans expressed delight and Democrats relief as Gov. Paul LePage on Monday signed into law a two-year, $6.1 billion state budget that calls for tax breaks for Mainers, pension rollbacks for state workers and tougher welfare rules. The budget, approved with bipartisan support of the Legislature last week, takes effect […]
Posted inBusiness, sj-web
Northern New England ready for Canadian tourists
OLD ORCHARD BEACH, Maine (AP) — A Canadian flag flies beside an American one outside the beachfront Friendship Oceanfront Suites motel, beckoning tourists from north of the border. Inside the rooms, the motel’s rules are spelled out in English and French, the predominant language of Quebec. With Memorial Day weekend marking the unofficial start to […]
Posted inLewiston-Auburn
Jobs! After two years of downward trends, state and local numbers are starting to pick up
LEWISTON — Michelle Short had been looking for a job for two years. She had a full work history, including a decade in Lewiston-Auburn shoe mills and time in construction. It didn’t help. Thinking training and a career change might land her a job, she went to school and trained to become a certified nursing […]
Posted inMaine, sj-web
LePage: Jobs jobs needed to keep our gradates in Maine
AUGUSTA (AP) — With thousands of students graduating this month from Maine’s colleges and universities, Gov. Paul LePage says the state must create more jobs so more of those graduates stick around after receiving their degrees. In his weekly radio address Saturday, the governor said young men and women who go to college in Maine […]