Business

Judge who blocked drilling ban has conflict-of-interest

Judge who blocked drilling ban has conflict-of-interest

The Louisiana judge who struck down the Obama administration’s six-month ban on deepwater oil drilling in the Gulf of Mexico has reported extensive investments in the oil and gas industry, according to financial disclosure reports. He’s also a new member of a secret national security court. U.S. District Judge Martin Feldman, a 1983 appointee of […]

BP cut corners, cost on doomed ‘nightmare well’

BP cut corners, cost on doomed ‘nightmare well’

BP took measures to cut costs in the weeks before the catastrophic blowout in the Gulf of Mexico as it dealt with one problem after another, prompting a BP engineer to describe the doomed rig as a “nightmare well,” according to internal documents released Monday. The comment by BP engineer Brian Morel came in an […]

Foreclosures down but millions will still lose homes

Foreclosures down but millions will still lose homes

Millions of Americans are still likely to lose their homes in the coming years, but the foreclosure crisis is finally showing signs of subsiding. The number of households facing foreclosure in April fell 2 percent from a year ago, the first annual decline in five years, RealtyTrac Inc. said Thursday. But the data aren’t all […]

Farm subsidies: The rich keep getting richer

Farm subsidies: The rich keep getting richer

Lawmakers crafting a sweeping farm bill in 2008 promised it would cut government payments to wealthy farmers. Two years later, little appears to have changed. Data being made public Wednesday shows that the wealthiest farmers in the country are still receiving the bulk of government cash, despite claims from lawmakers that reforms in the bill […]