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Commerce Department

Households Hoard Cash, Savings Rate At 15-Year High

AP | MARTIN CRUTSINGER | Posted 05.25.2011 | Business

WASHINGTON _ Households raised their savings rate to the highest level in more than 15 years in May as many used a big boost in money from the governm...

Economy Dips At Slightly Lower Pace In 1Q

AP | Jeannine Aversa, AP Economics Writer | Posted 05.25.2011 | Business

WASHINGTON (AP) -- The economy tumbled at a 5.5 percent pace in the first quarter, but appears to be doing better now, even though heavy layoffs persi...

Unemployment: New Jobless Claims Rise Unexpectedly to 627K

Yahoo! Finance | Christopher S. Rugaber, AP Economics Writer | Posted 05.25.2011 | Business

WASHINGTON (AP) -- The number of people filing new jobless claims jumped unexpectedly last week, and the total unemployment benefit rolls rose to more...

May New Home Sales Down 0.6 Percent

AP | ALAN ZIBEL | Posted 05.25.2011 | Business

WASHINGTON — New U.S. home sales dipped slightly last month, in another sign that the housing market recovery is likely to be gradual and prolon...

New Home Construction: May Up 17.2 percent

AP | MARTIN CRUTSINGER | Posted 05.25.2011 | Business

WASHINGTON — Construction of new homes jumped in May by the largest amount in three months, an encouraging sign that the nation's deep housing r...

Economy Shrank By 5.7 Percent In Q1

Yahoo! Finance | Jeannine Aversa, AP Economics Writer | Posted 05.25.2011 | Business

WASHINGTON (AP) -- The U.S. economy sank at a 5.7 percent pace in the first quarter as the brute force of the recession carried over into this year. ...

Housing bottom in sight, but recovery will be slow

AP | MARTIN CRUTSINGER | Posted 05.25.2011 | Business

WASHINGTON — Single-family home construction posted a modest rebound in April, raising hopes that the three-year slide in housing is leveling of...

Seize the Net: Save the Net

Leslie Harris | Posted 05.25.2011 | Politics
Leslie Harris

Earlier this week, two Senators introduced a bill that gives the President the power to seize and shut down the Internet or any other "critical infrastructure " in the "interest of national security."

Remembering Ron Brown and Crafting an Agenda of Sustainable Commerce

Jonathan Greenblatt | Posted 05.25.2011 | Business
Jonathan Greenblatt

April 3rd is the anniversary of the death of Commerce Secretary Ronald H. Brown. If he stood among us, I believe he would espouse the power of responsible business.

February New Home Sales Rise Unexpectedly

AP | ALAN ZIBEL | Posted 05.25.2011 | Business

WASHINGTON — New home sales rebounded unexpectedly last month, but were still the second-worst on record and remained well below last year's lev...

Iranian Businessman Charged In Weapons Smuggling Scheme

Washington Post | Posted 05.25.2011 | World

A Tehran businessman at the center of an alleged international weapons-trafficking scheme was charged today in federal court with violating U.S. expor...

Hertz's One State Solution: Netanyahu's Rent-a-Car Ally

Michael Shtender-Auerbach | Posted 05.25.2011 | World
Michael Shtender-Auerbach

With Hertz operating in every major Middle Eastern country, one would think Hertz would recognize how utterly offensive its map is and immediately repeal its use.

Bush Endangered Species Rule On Hold By Obama

AP | DINA CAPPIELLO | Posted 05.25.2011 | Politics

WASHINGTON — President Barack Obama urged agency heads Tuesday to ignore a Bush administration regulation limiting scientific reviews of project...

Economy Shrinks By 6.2%, Worst In 25 Years

AP | JEANNINE AVERSA | Posted 05.25.2011 | Business

WASHINGTON — The economy is moving in reverse faster than the government can measure. The contraction for the fourth quarter of 2008 had been e...

Congressional Black Caucus Lobbies Obama For Black Commerce Secretary

The Hill | Posted 05.25.2011 | Politics

The Congressional Black Caucus is lobbying President Barack Obama to pick African-American technology executive John Thompson to be his commerce secre...

Jason Linkins

Scritti Politti: January 30, 2009

HuffingtonPost.com | Jason Linkins | Posted 05.25.2011 | Media

Well, you knew this was coming! From Lynn Sweet: I just chatted with Justin Herndon, one of the publicists who put together the media blitz for now ...

Sam Stein

Judd Gregg: Commerce Secretary

HuffingtonPost.com | Sam Stein | Posted 05.25.2011 | Politics

UPDATE: February 12, 4:20 PM ET: Judd Gregg has withdrawn his nomination to serve Commerce Secretary. From his statement: I want to thank the Presid...

Trade Rep. Schwab Says Tech And Trade Are Inextricable at CES

Mike Smith | Posted 05.25.2011 | World
Mike Smith

Rep. Susan C. Schwab says that the electronics community and tech sector needs to be just as vocal as others who are protectionist. Trade agreements must benefit everyone.

Richardson Appointment Is Good News for Oceans

Frances Beinecke | Posted 05.25.2011 | Green
Frances Beinecke

As Secretary of Commerce, Bill Richardson can position the US as a leader on international ocean issues. He is a big-picture person, someone who understands the global stage.

Penny Pritzker: Commerce Secretary?

Huffington Post | Posted 05.25.2011 | Politics

UPDATE: Penny Pritzker has withdrawn herself from consideration for the Commerce Secretary post. She emailed the following statement to the Chicago S...

NOAA Makes it Official: Extreme Weather Due to Climate Change

Janet Ritz | Posted 05.25.2011 | Green
Janet Ritz

Congress, candidates and electorate take note: The extreme weather the U.S. has been experiencing is due to climate change and is expected to become more extreme in the future.

Economy Nearly Stalled in 4th Quarter

AP | JEANNINE AVERSA | Posted 05.25.2011 | Business

WASHINGTON — The economy nearly sputtered out at the end of the year and probably is faring even worse now amid continuing housing, credit and f...

New Home Sales Drop for a Fourth Month

AP | MARTIN CRUTSINGER | Posted 05.25.2011 | Business

WASHINGTON — Sales of new homes fell in February for the fourth straight month, pushing activity down to a 13-year low. While the rate of declin...

More Economists Agree We Are In A Recession

Wall Street Journal | PHIL IZZO, SUDEEP REDDY | Posted 05.25.2011 | Business

Economists in the latest Wall Street Journal forecasting survey are increasingly certain the U.S. has slid into recession, a view reinforced by new da...

Sales, Dollar Plunge; Oil Soars

AP | MARTIN CRUTSINGER | Posted 05.25.2011 | Business

WASHINGTON — Oil hit a record high, the dollar sank again, and consumers stopped buying pretty much everything. Stocks kept gyrating, too, on T...