Defense manufacturers worldwide are facing tough times ahead, as tight budgets force Western governments to cut spending. But while the West is cutting back, developing countries around the world are spending more on defense — a lot more.
Last fall, defense contractors warned of massive layoffs if the U.S. government enacted the automatic budget cuts known as sequestration. Now, sequestration is in effect, but job losses are limited, in part because many Pentagon contracts were already in place and will keep assembly lines rolling for much of this year.
Gun stores around the country have had difficulty keeping up with demand for ammunition in recent months. Fears of government tightening of gun and ammunition controls have meant that retailers, from Wal-Mart to mom-and-pop gun shops, haven't been able to keep bullets on the shelves.
Cliff Poser's gun shop, Cliff's Guns, Safes and Reloading in Boise, Idaho, is one of them. Business has been so crazy lately that he has to keep a special stash of ammunition, just so customers who buy guns from him can also buy bullets.
The latest employment report is encouraging to many economists because the stronger job growth doesn't appear to be just a one-month blip. But some worry that it's so strong the Federal Reserve may pull back efforts to boost the economy.
The Labor Department's newest data released Friday shows the U.S. added 195,000 jobs in June. The prior two months were also revised upward — above 190,000 for both April and May.
Say you're in Midtown Manhattan at rush hour. You need to go a mile uptown, and you can't find a cab. A pedicab, a taxi-bicycle hybrid (like the one in the picture) may not be a bad option.
Riding through the middle of Manhattan on the back of a bike, dodging buses and cabs, feels like the Wild West of transportation options. The pricing feels that way too: Unlike buses or cabs, pedicabs don't charge a set fee. It's whatever the rider and the driver agree to. And, like in the Wild West, innocents often get fleeced.
The overwhelming and endless stream of electronic alerts and messages on our computers, phones and tablets is driving demand for a new kind of summer camp for adults. "Technology-free" camps that force their campers to surrender their gadgets, wallets and that nagging "fear of missing out" — FOMO — are booking up fast.