Obama officials received some 2,200 applications from companies and organizations for some of the $7.2 billion in stimulus money set aside by Congress to build out new high-speed Internet lines and services.
Consumers still aren’t buying gadgets.
The latest Commerce Department retail sales data, which showed a disappointing 0.4 percent fall overall in April from March, includes a 2.8 percent drop in sales at electronics and appliance stores, which is worse than any other individual category.
On March 10, Dan Spatz joined hundreds of other people who crammed into a 500-seat auditorium at the Commerce Dept. building in Washington, D.C. The crowd of executives, entrepreneurs, and local officials had gathered for the first public hearing about how the federal government plans to distribute $7.2 billion in grants and loans to improve broadband Internet access in the U.S.
The broad market is getting clobbered this morning in part by the extremely weak Commerce Department report on December retail sales–and investors are demonstrating particular zeal for dumping both Amazon.com and eBay.
The stock market is getting whacked today by a Commerce Department report that shows retail sales were down 1.2 percent in September, the biggest decline in three years. The AP notes that retail sales have fallen for three straight months–the first time that has occurred since the government began tracking the measure in 1992.
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