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Fed's economic report stokes recession fears

By Times Wires
Published March 6, 2008

WASHINGTON

The economy has weakened since the start of this year as shoppers turned even more cautious given the severe housing slump and painful credit crunch, according to the Federal Reserve's new snapshot of nationwide economic conditions released Wednesday. Manufacturers and other businesses, meanwhile, had to cope with skyrocketing prices for energy and other raw materials. Many economists fear that the country is teetering on the edge of a recession or is in one already.

Job-bias suits rise most since 1990s

Federal job-discrimination complaints filed by workers against private employers shot up 9 percent last year, the biggest annual increase since the early 1990s. The data released Wednesday by the Equal Employment Opportunity Commission show allegations of discrimination based on race, retaliation and sex were the most frequent, continuing a long-term trend. Overall, the commission said complaints increased from 75,768 charges filed in 2006 to 82,792 last fiscal year.

TALLAHASSEE

Bill gets tough on firms that pollute

Dozens of energy bills are wending through the state Legislature this session, but insiders consider Senate Bill 1544 the one to watch. Sen. Ben Saunders, R-Naples, presented new language Wednesday morning. The bill proposes tax credits and grants to encourage renewable-energy investment, requires that local and regional planning take into account greenhouse gas emissions, and proposes energy-efficiency guidelines for state buildings. The bill also lays the groundwork for Gov. Charlie Crist's plan for a cap-and-trade system to cut back on greenhouse gases. The state would set greenhouse gas reduction targets that get more strict over time. Polluters would get emissions credits. Those that emit a lot will use up their own credits and have to buy more from companies that slash their greenhouse gas emissions and don't need all their credits.

ORLANDO

Disney to alter ride after worker death

Walt Disney World plans to make safety changes to an Animal Kingdom roller coaster in response to the death last year of an employee after she was struck by one of the ride's cars. Disney is changing the entry and exit areas of Primeval Whirl by installing sensor mats in restricted-access areas, Disney World spokeswoman Kim Prunty said Wednesday. The sensor mats will shut down the ride if a person sets foot there, she said. Ride attendant Karen Price was hit by a ride car and fell from a platform on Nov. 24. She died a few days later.

SAN FRANCISCO

Ask.com retreats from Web goals

In a dramatic about-face, Ask.com, owned by Barry Diller's InterActiveCorp since 2005, is abandoning its effort to outshine Internet search leader Google Inc. and will instead focus on married women looking for help managing their lives. Ask will lay off about 40 employees, or 8 percent of its work force, as the company returns to its roots by concentrating on finding answers to basic questions about recipes, hobbies, children's homework, entertainment and health.

[Last modified March 5, 2008, 23:55:37]