That’s the debate going on these days from executive offices to the local malls. Business owners, workers and, yes, even economists are trying to decide whether the U.S. economy has hit a speed bump or is heading for a collision.
We all know growth is tepid, unemployment is a bear and housing, well, stinks. That’s why major Wall Street firms, the International Monetary Fund and, on Wednesday, the Federal Reserve all slashed their estimates for U.S. GDP growth this year.
Monday, June 27, 2011
New recession begins next year, Shilling says Howard Gold's No-Nonsense Investing - MarketWatch
First Read - First Thoughts: Bachmann's turn for overdrive
Bachmann’s turn for overdrive: More than two weeks ago, we said it was important to take a Michele Bachmann campaign seriously, and the new Des Moines Register poll of likely Iowa GOP caucus-goers backs that up. According to the survey, Mitt Romney (at 23%) is running neck-and-neck with Bachmann (22%), followed by Herman Cain (10%), Newt Gingrich (7%), Ron Paul (7%), Tim Pawlenty (6%), and Rick Santorum (4%). Bachmann couldn’t have wished for better news to set up her official announcement, which she makes today from Waterloo, IA at 10:00 am ET. And surprisingly, the poll overshadowed Sarah Palin’s stop in Iowa on Tuesday, which had the potential of overshadowing Bachmann’s day today. Bachmann has one good problem: She’s peaking early. Can she keep it up? And keep this in mind: Bachmann is doing this without the so-called MSM; in fact, she’s even doing it without FOX News (whose Chris Wallace asked her yesterday if she was a “flake”).
NM wildfire forces evacuations, gov't lab closure - Forbes.com
LOS ALAMOS, N.M. -- A fast-moving wildfire forced officials at the Los Alamos National Laboratory to close the site Monday as residents nearby evacuated their homes.
The fire has grown to between 6 and 9 square miles of mixed conifer and ponderosa pine and firefighters have no containment. The blaze started at around 1 p.m. Sunday on private land about 12 miles southwest of the town of Los Alamos.
Sunday, June 26, 2011
6 killed in Amtrak train crash, 28 unaccounted for
Six people were killed and 28 remain unaccounted for in the fiery collision of a semi-trailer and an Emeryville-bound Amtrak train in the Nevada desert, officials said late Saturday.
It wasn't until Saturday afternoon that the wreckage was safe enough to allow search teams to enter the burned-out hulks of two passenger cars in the 10-car train that exploded in a fireball on Friday.
A team of 18 investigators from the National Transportation Safety Board is examining the wreckage, but they don't yet have a full explanation of why the crash occurred.
Two other truck drivers watched in horror and disbelief as the lead semi-tractor trailer in their convoy failed to stop for flashing warning signals and plowed into the train, the federal investigators said.
"The two other trucks noticed the signs and took action," NTSB member Earl Weener said at a briefing. "The lead truck did not stop."
The initial findings only deepen the mystery of why the big rig slammed into the California Zephyr at a remote highway crossing about 70 miles east of Reno, shortly before 11:30 a.m. on Friday.
The fellow drivers in the three-truck convoy described ample warnings signs and functioning crossing gates and warning lights, Weener said. The first warning sign was almost 900 feet before what Weener described as a state-of-the-art rail crossing gate. There were additional markers at 650 feet.
Skid marks show the lead driver, who died in the crash and authorities have refused to identify, applied the brakes beginning at about 320 feet from the crossing but was unable to stop in time, officials said.
But more than a day after the rig, owned by John Davies Trucking of Battle Mountain, Nev., slammed into the train, little information was available about who was killed and who was missing in the collision.
The investigators from NTSB combed through the charred wreckage, trying to determine why a semi-tractor trailer hauling empty gravel containers hurtled through the wooden safety gates and flashing lights at the remote highway crossing.
Crews also had the grim task of searching the charred hulk of part of the train for bodies.
The fireball that raged through the train cars made it too risky for crews to search the wreckage until Saturday afternoon, authorities said.
"The fire weakened the structure of the cars and they could collapse," Nevada Highway Patrol Trooper Dan Lopez said. "The safety of workers is a big thing, and we don't want to put someone else in an unsafe situation."
Amtrak officials, who earlier said there were 204 passengers and 14 crew members aboard the California Zephyr, were scouring the passenger manifest to determine how many riders were on the train and how many had bought tickets but did not use them.
There's difficulty in knowing exactly how many passengers were onboard the train, Weener said.
"It's not like an airplane where there's a record of who gets on," he said. "On a train, people can get on and off as they will."
The truck driver is expected to be the focus of the investigation.
"That's what everybody wants to know. Why did the truck collide with the train?" Lopez said. "Unfortunately ... he was pronounced dead."
Investigators are expected to review the man's driving and medical history. Autopsy results would probably indicate whether the driver had consumed any drugs before the collision.
More than 80 people were taken to hospitals in Reno and the surrounding area, some in helicopters, authorities said. Six of the nine who had been taken to Renown Regional Medical Center, the local trauma hospital, were released by Saturday afternoon. Of the three who remained, one was listed in critical condition.
The riders' injuries included blunt trauma, fractures, abrasions, lacerations and internal organ damage, but not burns, Renown officials said.
Another 76 people were treated at Banner Churchill Community Hospital in Fallon, about 63 miles east of Reno, hospital spokeswoman Amiee Fulk said. All but one had been released by Saturday.
Dozens of other passengers were being taken by chartered buses to their destinations, Amtrak officials said. The first buses arrived in Emeryville around midnight Friday. Trains had to be rerouted around the crash site and the highway remained closed around the scene of the wreck.
The train had originated in Chicago. It was due to arrive in Emeryville at 4:10 p.m. Friday.
"Right now it's a shock to everybody's system," Amtrak spokesman Cliff Cole said, "but I think at the end of the day, we run a reliable and safe railroad."
Chronicle news services contributed to this report. E-mail John Coté at jcote@sfchronicle.com.
This article appeared on page A - 1 of the San Francisco Chronicle