WHDH Business News

MOUNTAIN OF DEBT: Rising debt may be next crisis

WASHINGTON -- The Founding Fathers left one legacy not celebrated on Independence Day but which affects us all. It's the national debt. [Full Story]

GM awaits judge's ruling on sale plan
NEW YORK -- General Motors Corp. may have to wait out the long holiday weekend to learn if its bankruptcy plan is moving forward, after U.S. Judge Robert Gerber adjourned a three-day hearing without indicating when he will rule on GM's plan to sell its good assets to a new company. [full story]
Older job seekers struggle to overcome age barrier
WASHINGTON -- Like many unemployed older workers, 64-year old Allan Kellum fears his age has made it harder to find a new job. At a recent job fair, Kellum expressed interest in a supervisory role coordinating an international health assistance program. A recruiter set him straight: "The people applying for that are young." [full story]
As economy drops jobs, paychecks drop some weight
WASHINGTON -- Americans lucky enough to still have a job are noticing something unpleasant in their paychecks: They're making less money. [full story]
JetAmerica discount airline delays launch
NEWARK, N.J. -- A fledgling discount airline is having trouble getting off the ground. [full story]
Jobless data sends stocks reeling; Dow loses 223
NEW YORK -- A dour report on job losses in June sent stocks sharply lower Thursday. [full story]
Obama confident in recovery despite jobs report
WASHINGTON -- President Barack Obama said Thursday that he remains confident the economy will turn around in the short term and the nation will prosper in the long term despite another dose of bad unemployment news. [full story]
Chrysler's product lineup struggles in showrooms
DETROIT -- The latest numbers on auto sales show that Chrysler needs to quickly figure out how to navigate the car market as deftly as it did bankruptcy court. [full story]
Tax revenue drop fuels states' financial crisis
COLUMBUS, Ohio -- An across-the-board drop in tax collections, coupled with a prolonged recession, has states facing their worst fiscal crisis in decades. [full story]
Banks trim borrowing from Fed's emergency program
WASHINGTON -- Banks borrowed less from the Federal Reserve's emergency lending facility over the past week and cut back on other programs designed to ease the financial crisis, encouraging signs that some credit stresses are easing. [full story]