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These plants aren't easily reconfigured. They're not like some of the old industrial properties in cities where there might be an adaptive re-use. You can sometimes convert an old textile mill in New England to lofts or business incubators or computer farms. That doesn't happen easily with refineries
Regardless of what people think, I believe we have really misguided economic policies at the national level and some at the state level ... Valero has been struggling mightily, I'd say, over the last year to work those things out.
That's why you saw the decline of companies like Metachem and Oxychem, because of the increasing concern in the U.S. and world with regard to quality of life and health issues
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Montana gov: Budget concern behind 4 job cuts
...negative budget picture was behind the decision to eliminate the regional development officer positions at the state Commerce Department and more "austerity measures" could be coming, the administration said Wednesday.Budget director David Ewer said there... |more
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Oil stays above $79 amid mixed economic signs
...level since July 17, and oil companies are importing much less oil as they scale back their refining operations.The Commerce Department separately said construction of homes and apartments fell 10.6 percent in October to an annual rate of 529,000 — well below... |more
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Sector Snap: Homebuilders follow Pulte higher
...$12.Pulte shares rose 48 cents, or 5 percent, to $10.08, leading homebuilder stocks higher despite bad news from the Commerce Department on the current state of the housing market:— The government said construction of new homes dropped 10.6 percent in October,... |more
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Dollar mostly lower as Fed official says '2012'
...often trades higher because of its safe-haven allure as investors digest worrisome economic reports. On Wednesday, the Commerce Department said construction of new homes sank 10.6 percent last month, to the lowest pace of building since April. That dragged... |more
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Stock market falls as home construction slows
...Wednesday comes a day after major stock indicators closed at 13-month highs. Analysts say the market is due for a rest.The Commerce Department says construction of homes and apartments fell 10.6 percent in October to an annual rate of 529,000. That's below... |more
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Watch new home sales, not those of existing homes
...excess inventory and a growing foreclosure pipeline, the signal from new homes right now is much more cautious.Last week, the Commerce Department reported that new home construction sank 10.6% in October to an annualized building rate of 529,000 units, the... |more
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Wall Street buckles in for a bumpy ride
...projections. Wednesday: The day before Thanksgiving will be jam-packed with economic data reports, beginning with the Commerce Department's report on personal income and spending at 8:30 a.m. ET. Spending is expected to have risen 0.5% in October, compared... |more
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Plant's closing a sign of industry's decline
...world. DuPont's Chambers Works was the world's largest chemical plant. And the Delaware City complex employed thousands. Commerce Department records show that the value of petroleum-related business in Delaware fell by more than 30 percent between 1998 and... |more
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Black Tuesday, and Wednesday, and ...
...these if they want to lure recession-jittery shoppers. Retail sales rose 1.4 percent in October, according to the U.S. Commerce Department, but the hike was largely because of auto sales. Take those out of the equation, and the bump was only 0.2 percent, half... |more
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View of home as investment needs to change, expert says
...to a 2009 high. In September, sales dropped 3.6% as time ran out to complete homes by the tax credit's Nov. 30 deadline, the Commerce Department said. Resales rose to a 5.57 million annual rate in September, the highest in more than two years, NAR said in... |more
