Stephen Fuller News
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When Mobil Corp. quit midtown Manhattan for 130 green acres in Fairfax County, Virginia, its new neighbors included country stores, dairy farms and a highway that ringed the nation’s capital. Mobil brought hope that the suburb could break free of its Washington ties to build its own world-class economy.
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In Newport News, Virginia, Betty Hazelwood said she’s on “pins and needles” about whether her job as a submarine pipefitter will be eliminated by U.S. spending cuts. In Northern Virginia, Kate McLaughlin canceled a vacation to Costa Rica because of concern her federal contracting will end. At a suburban Washington car dealership, Infiniti of Tyson’s Corner, customers aren’t buying.
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A program tracking U.S. green jobs that was faulted by Republican lawmakers will be scrapped by the Bureau of Labor Statistics as part of automatic budget cuts set to take effect today, according to a person familiar with the decision.
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The defense and aerospace industries are warning that the U.S. will lose 1 million jobs and $59.4 billion in wages and salaries tied to the their businesses if Congress’ supercommittee fails and automatic cuts are imposed.
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The defense and aerospace industries are warning that the U.S. will lose 1 million jobs and $59.4 billion in wages and salaries tied to the their businesses if Congress’ supercommittee fails and automatic cuts are imposed.
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John Lutz is following the debate in Washington over the so-called fiscal cliff with more than academic interest.
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As the U.S. defense industry tries to avert $500 billion in automatic cuts to national security spending, one of its biggest hurdles may be its own recent success.
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Looming U.S. defense-spending cuts that threaten almost 160,000 Texas jobs are unlikely to halt a municipal-bond rally that’s beating seven other top-rated states tracked by Standard & Poor’s.
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Across-the-board cuts to federal programs may cost the U.S. 2.14 million jobs and reduce the gross domestic product by $215 billion next year, according to a study funded by defense contractors lobbying to forestall the reductions.
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TransCanada Corp.’s Keystone XL oil pipeline, heralded by supporters as a major job creator, will add few permanent positions once the $7 billion project is built.
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