The anticipated Federal Reserve announcement this afternoon is unlikely to help the economy because companies are not taking advantage of current interest rates to invest in new plants and equipment, analysts say. It is not guaranteed that lower interest rates will trigger manufacturers to increase staff if demand remains low.
Harvey Pitt stepped down as SEC chairman yesterday, ending a 15-month tenure. Pitt came under fire for his handling of William Webster's appointment to a new five-member panel. Paul Atkins and Cynthia Glassman, the other two Republican SEC commissioners, could be in line for Pitt's old job. Click here to read Pitt's resignation letter.
Following the announcement of it's seventh straight quarter of expanding sales, the natural food grocery chain said its plans to remodel some stores and increase investment in IT systems. Sales at Wild Oats increased 2.7% in the quarter ending Sept. 28.
Oregon voters rejected Measure 27 that would have required the labeling of all foods containing biotech ingredients. The Coalition Against the Costly Labeling Law said the decision affirms consumer confidence in FDA food regulations.
John Banzhaf, a George Washington University law professor who sued Big Tobacco, admits "there are very important differences between the problems of smoking and obesity." But Banzhaf remains committed to such projects as taxing unhealthy foods and lawsuits against food manufacturers who tout their foods as "low fat."