The Latest Business Headlines from WWJ Newsradio 950
New Plan For Cobo | It's the latest effort to break a deadlock over modernizing Cobo, which is seen as key to retaining the North American International Auto Show. | Story
Auto Sales Seen Lower | The Wall Street Journal says U.S. auto makers are expected to report big declines in August domestic sales despite incentives, Reuters reports. | Story
Toyota In Brewery Park | After more than 20 years at the Renaissance Center, Toyota Motor Sales USA Inc. is moving to 1155 Gratiot Ave., The Detroit Free Press reports. | Story
Olson Corp. Closes | The St. Clair Shores construction management and contracting firm closed after its namesake left the country, Crain's Detroit Business reports. | Story
Farmers' Markets Take Food Stamps | The trend is fattening profits for Michigan farmers, while creating healthier options for low-income families as food prices soar.| Story
Stocks Closed Higher | Crude oil prices fell Friday as stocks rose, although neither could settle questions about the global economy or how long the credit crisis will persist. Story
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DOLLAR'S PERFORMANCE HAS SOME ANALYSTS FEELING GOOD ABOUT GREENBACKS
Is the battered U.S. dollar making a comeback? Recently, it’s beginning to look like it might be.
After a long period of decline, the recent performance of the U.S. dollar against the Euro and other major currencies has some currency traders feeling more bullish about the greenback. If they are right, that could be good news for prices of imported energy and other goods from overseas. But, if the dollar rises too far, too fast, it could put a crimp on U.S. manufacturers’ ability to sell more goods in other countries.
On Friday, the euro lost ground to the dollar, trading at $1.4787, down from $1.4869 on Thursday. The U.S. currency rose to 109.31 Japanese yen, from 108.95 yen in the previous trading session.
Kathy Lien, director of currency research for Global Forex Trading in New York says she thinks the dollar’s recent strength is for real and will continue. But, she expects the rise to be slow and steady and for the dollar to see some setbacks along the way.More...
Habitat for Humanity, Pistons Create Marketing and Sales Opportunity
The Detroit Pistons present “The World’s Biggest House Party,” a one-of-a-kind event that will raise friends and funds for Habitat for Humanity of Oakland County.
On Nov. 8, more than 1,000 guests will attend 100 “house parties” at locations around Oakland County. Their goal will be to raise $100,000 net to support local families in need of safe, decent, affordable housing. Detroit Pistons head coach Michael Curry is the event’s honorary chairperson. More...
FINANCIAL STORM STILL TAKING TOLL, BERNANKE SAID: Federal Reserve Chairman Ben Bernanke said Friday the financial crisis that has pounded the country – coupled with higher inflation – is taking a toll on the economy and poses a major challenge to Fed policymakers as they try to restore stability. "Although we have seen improved functioning in some markets, the financial storm that reached gale force" around this time last year "has not yet subsided, and its effects on the broader economy are becoming apparent in the form of softening economic activity and rising unemployment," Bernanke said in a speech to a high-profile economics conference held in Jackson, Wyo. More...
PHYSICAL DEMAND FOR GOLD ON THE RISE: After the sharp fall in prices over the last month, analysts say physical demand for gold appears to have picked up – which seems to be helping the market to stabilize. JPMorgan analyst Michael Jansen calls the demand "robust," and says it’s keeping gold strong, despite continued selling from trend-following market players and funds that feel the dollar has been put in a base and inflation risks are lifting. He says demand has tightened in parts of the world, including the Middle East and India.More...
BUSH TAX CUTS CENTRAL TO MCCAIN TAX PLAN: The Bush administration tax cuts from 2001 and 2003 are at the center of the debate over tax plans between the two major presidential candidates. In the third in a series of articles posted at CBSNews.com, columnist Keith Girard looks at McCain's proposals. he says "the centerpiece of McCain's tax policy is to make all of the 2001 and 2003 tax cuts permanent." More...
WANT THE REAL OUTLOOK FOR HOUSING? TAKE A LOOK AT DEMAND: Experts say supply isn't the problem in the housing market. It's the demand side of the equation that continues to falter. There's little prospect of improvement anytime soon, given the steady rise in mortgage rates, problems for Fannie Mae and Freddie Mac, and banks' seeming reluctance to lend. According to a survey of consumers by the University of Michigan, the percentage of people who think it is a good time to buy a home has been rising since mid-2007. But The Conference Board says the percentage of consumers planning to buy a home in the next six months has declined this year. More...
FEDS SCRAP SELF-DEPORTATION PROGRAM: A pilot program allowing illegal immigrants to surrender to authorities and have more control over their deportation has been dubbed a failure. U.S. Immigration and Customs Enforcement says it is ending its ''Scheduled Departure'' program when the three-week trial concluded Friday. Only eight people participated in the program, officials said. ''Quite frankly, I think this proves the only method that works is enforcement,'' Jim Hayes, acting director of ICE's detention and removal operations, told The Associated Press. More...
WORLDWIDE AUTOMOTIVE REPORT PODCAST: August looks like another weak month for car sales. Automakers seek bigger federal loans. Chrysler's hybrids start rolling off the line. BE OUR FRIEND ON FACEBOOK: The Daily Dash now has a profile page and a group on Facebook. If you have a Facebook account (or have been looking for a reason to set one up), we'd like to hear from you. To visit the Daily Dash profile, click here. To join thegroup, click here.
INTEL TOUTS PROGRESS TOWARD INTELLIGENT COMPUTERS: At the Intel Developer Forum in San Francisco, Intel Chief Technology Officer Justin Rattner showed off a number of technologies in computing, robotics, and communication that he cited as evidence that Ray Kurzweil's concept of "singularity," when machine intelligence surpasses human intelligence, is impending. Demonstrations spotlighted the wireless transmission of electrical power, dextrous robots with new sensory abilities, a direct interface to the brain, programmable materials that can be used for shape-shifting devices such as resizable cell phones, and silicon photonics that enables chips to communicate with photons rather than electrons. More...
VENTURE MONEY FINDS INDIA, CHINA TECH: More venture capital is flowing to India and China, in an obvious sign that Silicon Valley is no longer the only go-to spot for tech investing. In the second quarter of 2008, venture firms invested $238 million in 17 deals in India, a 120 percent jump from the comparable period a year ago and the second-highest quarterly total on record, according to figures released Thursday from Dow Jones VentureSource. That growth was thanks largely to investments in advertising companies, including $70 million put into Laqshya Media of Mumbai, an outdoor ad company that runs digital ad networks. The amount of money put into deals was also up because of an increased number of later-stage funding to help companies get acquired or go public.More...
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have a related podcast at 
Is the battered U.S. dollar making a comeback? Recently, it’s beginning to look like it might be.
BE OUR FRIEND ON FACEBOOK: The Daily Dash now has a profile page and a group on Facebook. If you have a Facebook account (or have been looking for a reason to set one up), we'd like to hear from you. To visit the Daily Dash profile, 
