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September 19, 2011 05:44 PM

Monday Evening Business Brief


Stock prices bounced off their worst levels of the day, but remained in negative territory by the closing bell.
The Dow fell 108 points to 11,401, the S&P was down nearly 12, while the Nasdaq fell 9 points. In each case, the decline was less than 1 percent.
  • President Barack Obama's latest plan to attack the deficit would affect regular people, not just millionaires. Air travelers, federal workers, military retirees, wealthier Medicare beneficiaries and people taking out new mortgages are among those who would pay more than $130 billion in government revenues raised through fees.
  • President Barack Obama says the Postal Service should be allowed to reduce mail delivery to five-days-a-week to help cut its massive losses. The Postal Service lost $8.5 billion last year, and is facing even more losses this year.
  • Apple stock today reached its highest level ever, topping $411 a share at the close. Apple is again the most valuable company in America, with Exxon Mobil number 2.
  • A Wisconsin law intended to protect the state's dairy industry by making it illegal for restaurants to serve margarine as a replacement for butter is being targeted for repeal. Wisconsin restaurants can get around the restriction by serving both butter and margarine.
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