Here are some stories worth a few minutes of your time on this Wednesday morning...
In case you've just returned to planet Earth after a long vacation in the Horsehead Nebula
, you know we've got an election coming up in a little over a month. Luz Robles of the Zion's Business Resource Center says this is a perfect time to get employees involved in the community
. "Having an educated and civically engaged workforce benefits your business and your community," says Robles in today's Daily Pulse
To paraphrase LL Cool J
, "Don't call it a bailout." The Fed stepped up yesterday and rescued AIG with a loan of $85 billion
. In return, the government now owns 80% of the insurance giant. The move comes just two weeks after the government took over Fannie Mae and Freddie Mac. The New York Times calls it "the most radical intervention in the central bank's history."
That wasn't the only action the Fed took yesterday. They also decided to leave interest rates alone
. Some investors had hoped the Fed would offer up another interest rate cut. Some analysts say the decision to stand pat shows that the Fed no longer feels interest rate cuts will spur economic growth.
Oil prices are falling. Yesterday, the price for a barrel of oil stood at just over $91 a barrel
. That's the lowest point since February of this year when oil was just over $88 a barrel.
Mixed economic news for Utah today. Job growth is anemic, but inflation is slowing
. Utah's job growth was just 0.3% last month, which is a huge drop from a 5.4% growth in 2006. However, the Utah consumer price index move up just 0.1% last month due to falling gasoline prices.