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EconNews Online is South-Western College Publishing's service to provide summaries of the latest economics news stories. Review the brief summaries and, for stories of interest, select the full summary. |
| GOVERNMENT AND THE ECONOMY | |
| Title | Brief Summary |
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Japan's highway system
is made up entirely of toll roads. The only problem: The tolls are too high
for people to want to use the roads. (Updated October 17, 2003) |
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In Shanghai, bamboo,
the staple food of pandas, is hard to find and is expensive. Government
subsidies to zoos have been reduced. Zoos are trying to raise money in other
ways and are accepting donations of bamboo. (Updated November 1, 2000) |
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Sotheby's president
has pleaded guilty to fixing commission fees in a conspiracy with Christie's
auction house. They also agreed not to make charitable donations to potential
sellers, and not to give interest-free loans to sellers. The Department
of Justice emphasized it would prosecute price-fixing wherever it occurred. (Updated November 1, 2000) |
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A national commission
is recommending that there should be no new internet taxes, thereby benefiting
consumers and "the new economy". However, some members are concerned that
sales tax revenues will be reduced, and traditional retailers will be disadvantaged. (Updated May 1, 2000) |
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Certain grocery and
drug stores in affluent New York suburbs are facing a lawsuit accusing them
of underpaying deliverymen who carry shopping home for customers. They should
be paid $354 for their 69-hour weeks, but in fact make $60 to $120. (Updated March 1, 2000) |
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The water around the
Florida Keys is polluted. The cause is antiquated sewer lines, which have
not kept pace with a rising population and tourism. The Key West City Commission
is asking voters to approve borrowing to fund a new sewer system. (Updated December 1, 1999) |
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Waterway accidents are
increasing due to increases in the number of boats, water rage, drunk-driving,
inexperience, lack of regulation, and decreased Coast Guard resources. In
response, harbors are increasing patrols and sobriety checks and states
are requiring licenses and insurance. (Updated November 1, 1999) |
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Anti-smoking campaigns
and higher cigarette prices are causing cigarette sales to fall in Florida.
As a result, the state's cigarette tax revenues are falling, with the effect
that local governments are receiving smaller transfers from the state. (Updated October 1, 1999) |
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The European Union has
banned duty-free purchases of alcohol, cigarettes and other goods on air
and sea journeys within the Union. The restoration of taxes is expected
to lead to losses of revenue for whisky producers and ferryboats among others.
(Updated August 1, 1999) |
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Corporate Average Fuel
Economy rules require each auto maker to sell a mix of vehicles that meets
a minimum fuel efficiency standard. Some foreign producers of large cars
treat the fines as a cost of doing business, while US firms try to avoid
being prosecuted because of possible lawsuits from angry shareholders. (Updated August 1, 1999) |
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American Airlines has
been accused by the federal government of engaging in predatory pricing
in order to force low-cost competitors out of certain markets. American
counters that it was only trying to offer competitive prices. (Updated July 1, 1999) |
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Alan Greenspan testified
to Congress that the minimum wage should not be raised. While employers
might be willing to pay it now, later, if the economy slows, they would
lay off less productive minimum-wage workers, especially teenagers. (Updated April 1, 1999) |
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The Mexican government
is planning to end subsidies on tortilla production and to remove price
controls. There is skepticism whether the government will be able to save
any money as a result. (Updated February 1, 1999) |
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Congress has been considering
giving health maintenance organization patients more power. This has led
interest groups to spend huge amounts of money on lobbying, advertising
and political support. (Updated January 1, 1999) |
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Construction fees are
levied in parts of Florida to help pay for congestion costs and transportation
improvements, but in St. Petersburg, businesses are being deterred at a
time when the City wants to generate more employment opportunities. (Updated January 1, 1999) |
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The U.S. Senate has
voted against an increase in the minimum wage. Lobbyists and Republicans
thought it was 'too much, too soon'. The political damage to the Republican
Party in forthcoming elections was expected to be reduced by the approval
of tax cuts. (Updated November 11, 1998) |
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Some Russian territories
have introduced price controls to curb inflation and panic buying. However,
businesses are finding it hard to cover costs, and consumers are suffering
shortages as goods are sent to uncontrolled markets. (Updated November 11, 1998) |
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