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Crews were cleaning up mud and broken asphalt Sunday after a deluge from a burst water main swept cars down streets, forced people out of their homes and flooded a section of a major Los Angeles boulevard.
An aging water main burst in Lower Manhattan early Friday, flooding about 15 buildings, forcing evacuations, disrupting subway and bus service and closing streets for blocks.
U.S. companies have cut more than 550,000 jobs so far in 2008 as they try to preserve their profits in a slumping economy, but analysts say such downsizing must be done carefully for corporations to have any long-term benefits.
America's biggest banks have suffered unprecedented losses from the ongoing credit crisis, and that's made some investors question whether the big financial conglomerates should be broken up in order to survive.
With many banks still reporting massive writedowns and even quarterly losses from bad mortgage investments, it certainly seems like an odd time for financial stocks to rally.
Investors already disheartened about the growing problems of the financial sector and the soaring price of oil are facing more depressing news with the release of second-quarter earnings reports.
Even as Wall Street skids lower almost by the day, and the major indexes have touched the levels of a bear market, some analysts are actually finding some signs in the performance of small-company stocks that might be pointing to the early stages of a much broader recovery.
America's banks and brokerages are scrambling to raise badly needed cash, but it may be at the expense of shareholders.
Not long ago, it seemed like the worst was over. As the first quarter wound down, the credit crisis appeared to be easing, the housing market seemed like it might get some footing and Wall Street was growing confident that it had finally found a bottom after months of volatility.
The chief executives at the world's biggest financial institutions might have been a bit too optimistic by declaring we may be nearing the end of the global credit crisis.
"The whole month of June is kind of a magic month." Citi Investment Research equity strategist Lori Calvasina wasn't referring to weddings, graduations or wildflowers blooming. She was talking about the stock trading that will take place in the next few weeks in anticipation of the annual reconstitution of Russell Investment's indexes.
After nine months of turmoil that started with the collapse of the subprime mortgage market, Wall Street appears to be at a turning point of sorts.
The Federal Reserve's decision Friday to lend more to banks may be a sign that policy makers want to avoid cutting interest rates any further, as they combat a credit crisis that is far from over.
The dollar's plunge might be preventing Americans from taking that European vacation this summer, but it could be the very thing saving their 401(k)s from buckling.
With the start of a new quarter, Wall Street seems to have found something it badly needed: a major shift in sentiment.
One of the casualties of the ongoing credit crisis is a long-held notion on Wall Street — that the investment banking community can take care of its own problems.
Investors nursing whiplash symptoms after watching the market's recent wild swings may find that Wall Street will deliver some relief in the coming weeks.
A city commission on Monday approved a massive rezoning plan for the heart of Harlem that would create condominiums, performing arts space, hotels and a 21-story office tower with such high-profile tenants as Major League Baseball.
Harlem's heart still beats strong on 125th Street, a lively thoroughfare where remnants of the neighborhood's legendary past sit side-by-side with newly arrived banks and chain stores.
Investors nursing whiplash symptoms after watching the market's recent wild swings may find that Wall Street will deliver some relief in the coming weeks.
The days when investment banks would spend time wooing big investors over a leisurely meal, with booze and cigars afterward, may be on their way out.
For the big three credit rating agencies, growing criticism this past week that their ratings systems are flawed must have sounded like a familiar refrain.
It doesn't take highly paid Wall Street analysts to figure out why corporate earnings are trending toward their worst performance in six years.
If the struggling bond market is saved by a potential bailout, turbulence in the stock market could ease — but without a bailout, cities across the country could have difficulty building everything from sewers to schools.
Beware of the Self-Destructive CoreWhom the gods would destroy, they first make mad. Euripides, Greek tragic dramatist (484 BC - 406 BC)
Man's ferry flap sends wife, kids and dog plunging into riverA man's family plummeted into the Main River in their car on Thursday evening after a misunderstanding caused his wife to back off of a ferry, police said on Friday.
Catholic couples criticize church role in gay unions fight in MaineTwo lifelong Catholic couples who are parishioners at St. Raphael's Church in Kittery, Maine, are saying they find legal, moral and ethical problems with efforts of the Portland diocese to repeal the state's same-sex marriage law.
Conservative Media vs. Progressive MediaThe bottom line is that most of these conservative media outlets don't stand a chance. Sure, some will have staying power in representing a certain percentage of the population. Those are the ones that focus on opinions. But no one is taking their "news" operations seriously.
What do I know? I'm just a regular (now retired) working stiff. But here's my idea of a financial bailout for Wall Street and my street, and if it's naive and simplistic, I can take the criticisms -- just make them specific and clear is all I ask.
Glen Beck - New World Order is the EndgameGlen Beck urges America to, "wake up now!"
Conventional wisdom is that negative attack ads work. The logic is that, if you attack your opponent enough and say terrible things about him, some of it is going to stick.
Hard times for a royal marriageFor, according to friends, all is not well between the Queen's millionaire furniture-maker nephew Viscount Linley and his heiress wife Serena.
'Rock star' Obama attracts a large crowd"It is true, I don't go out of my way to call Republicans names," he said, "because I have learned very early in my life that you can disagree without being disagreeable.
Maine Man Wins NASA's Glove ChallengeComing up with a glove to be worn in the void of space is not a typical design challenge, but an engineer from Maine has impressed NASA with a design he came up with at his kitchen table.
PReplay - A pcap traffic replay tool"PReplay is a utility to send the captured data.Its main feature is that it will keep the timediffrence between two packets(no very accuratly but it works with some micro/millisecond diffrence) it reads the capture file and then determine the time diffrence for the next packet.
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