The week that was: 05/01/11
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It didn't quite match the pageantry of the royal wedding, but Federal Reserve Board Chairman Ben Bernanke made news Wednesday by holding a one-hour press conference where, by many accounts, he offered little news.
Still, the perceived move toward greater transparency of the historically secret Fed was widely applauded as a step in the right direction, even if only a largely symbolic one.
The Bernanke press conference highlighted a week in business where the focus remains on the economy -- which held a mix of good and bad news.
Nationally, gasoline prices continued their upward climb, nearing the 2008 high of $4.05 a gallon.
Closer to home, the region's jobless rate has fallen to 6.8 percent, the best showing in two years and a full point below the state figure and two points below the national average of 8.8 percent. But that still leaves nearly 90,000 without jobs in the region.
Local small business owners are frustrated, too, and many attended a conference sponsored by the Obama administration at Chatham College to discuss their inability to convince banks to loan them money and other issues. They'd hoped to be sharing those concerns with White House officials, but those officials had to cancel after tornadoes tore through the South -- a reminder to all of the fragility of life.
There was good news for Hill District residents when Mayor Luke Ravenstahl helped break ground for a new Shop 'n Save grocery store on Wednesday at its Centre Avenue location in the Hill District. Long without a full-service grocery, Hill residents may have just that by Thanksgiving.
But in the Strip District, Right by Nature Hometown Market said on Friday that it was suspending operations indefinitely at both its store and Good Apples, the online food delivery service it acquired last year. The store's intent, according to a statement, is to open later this year in a new location.
The local economy is getting a boost -- to the tune of an estimated $23.7 million -- as the National Rifle Association arrived in town for its national convention that runs through today. There was an early dust-up when some bloggers suggested NRA members boycott local icon Primanti Brothers because staff members once posed with some customers from a gun control group. Primanti's said it wants to make sandwiches, not war.
Unfortunately, it's no rumor that two major companies were trying to explain themselves on security breaches.
Hackers obtained personal data and possibly credit card information of tens of millions of people registered on the PlayStation Network, Sony Corp.'s online game and movie service.
And a question arose about whether Apple iPhones were keeping track of phone users' movements for up to a year. The company denies it, saying it was a record of cell towers and Wi-Fi hot spots, but added that an update will now delete information after seven days.
First Published May 1, 2011 12:00 am
