President Bush reportedly has chosen John W. Snow to lead the Treasury Department. Analysts say the former Transportation Department official was chosen for his ability to articulate the administration's policy on TV and Capitol Hill.
Seven major construction firms have gone bankrupt in that country this year. Workers are being affected by Prime Minister Junichiro Koizumi's plan to spark the economy by cutting public debt and reducing government spending.
A government panel has proposed streamlining the country's educational system to develop a creative work force, one better able to manage the vagaries of a knowledge-based economy. The panel recommended that the school system "empower the individual."
Joseph L. Farmer, head of the Yonkers school district, resigned yesterday in a surprise move. Sources familiar with the matter say Farmer had a strained relationship with the school board, but Farmer's spokesman said he was leaving to "pursue other challenges."
Federal Realty Investment Trust yesterday announced plans to shift from urban-style developments in favor of traditional, suburban shopping centers. Donald C. Wood, likely to be appointed CEO next year, said "Main Street"-style developments require lots of cash up front and only pay off gradually. The company plans to complete ongoing urban projects, such as Bethesda Row and Pentagon Row in the Washington, D.C.-area.