We are often urged to buy local, but when people say that, we're usually thinking about food. Now it seems you can aim for local furniture and local building materials. Matt Sepic of Minnesota Public Radio reports on the Minneapolis business that makes everything from hardwood flooring to picture frames from trees cut just down the block.
The housing market is recovering in much of the country, not so much in Idaho. Home prices dropped by 46 percent in the Boise area during the financial crises. Forty-six percent. Today's business bottom line takes us to the home of a family that rode out the crash and are still waiting for better times. Here's Molly Messick of Boise State Public Radio.
President Obama ordered across-the-board federal spending cuts on Friday night. The $85 billion in cuts are spread across much of the government. The president and many Republicans have called the cuts unwise. But Congress passed them and the president signed them in 2011, and in recent days, they did not agree on a plan to revise or replace them.
We turn to David Wessel to find out what happens now. He is economics editor of The Wall Street Journal. David, welcome back.
The College of Cardinals is holding its first official meetings at the Vatican on Monday. The top agenda item is choosing which day to start the closed-door conclave that will elect the new pope. With no clear front-runner, the conclave outcome is unpredictable.
The papal resignation has put the cardinals in an unprecedented situation in modern history.
"The real mood is of shock and disappointment — this resignation desacralized the figure of the pope," says Massimo Franco, author of several books about the Vatican. He says a pope cannot be treated like a company CEO.