In other news…

NEW YORK – Tuesday, Ford
announced the largest recall in
history, recalling 4.5 million vehicles
made with faulty switches
that were fire hazards. The switch,
a cruise control deactivation
device, can leak fluid, overheat,
smoke and then burn, said the
National Highway Traffic Safety
Administration.
-www.cnn.com
DENVER – Colorado will become
the first state in the nation to
lower its minimum wage when the
wage drops from $7.28 to $7.24
next year. Coloradoans voted to tie
minimum wage to inflation, and
because of falling costs of living in
the current economy, the lowering
of the minimum wage is the unintended
consequence of this vote.
-www.nytimes.com
NEW YORK – Wednesday, the
Dow Jones Industrial Average
closed above 10,000 points for
the first time in over a year. This
boost follows the announcement
by JP Morgan Chase of a $3.6 billion
profit for the third quarter.
Investors see this boost as a milestone
of the economic recovery
from the financial crisis.
-www.nytimes.com

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