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May 31, 2011

CBS NEWS Coverage of Breaking Space News: -- Posted at 11:40 PM EDT, 05/31/11: Endeavour astronauts close payload bay doors, prep shuttle for landing -- Updated at 12:02 AM EDT, 06/01/11: Updating deorbit ignition time, burn duration; fixing typos

By WILLIAM HARWOOD
CBS News/Kennedy Space Center

KENNEDY SPACE CENTER, FL--Commander Mark Kelly and his five crewmates rigged the shuttle Endeavour for re-entry and landing early Wednesday to close out the orbiter's 25th and final mission, the next-to-last flight for NASA's iconic orbiter. With forecasters predicting good weather, Kelly and pilot Gregory Johnson planned to fire Endeavour's braking rockets at 1:29 a.m. EDT (GMT-4), setting up a landing at 2:35 a.m.

As recovery crews gathered at the Kennedy Space Center's 3-mile-long shuttle runway to welcome Endeavour back to Earth, another team of engineers began hauling the shuttle Atlantis to launch pad 39A for work to ready the ship for blastoff July 8 on the shuttle program's final flight.

Atlantis' crew -- commander Christopher Ferguson, pilot Douglas Hurley, flight engineer Rex Walheim and Sandra Magnus -- marveled at the view as the spaceplane, mounted atop a powerful crawler-transporter, rolled past a throng of spaceport workers who gathered near the Vehicle Assembly Building to witness NASA's last shuttle "rollout."

"It's going to be a long time until you see a vehicle roll out to the pad that looks as beautiful as that," Walheim said, pointing at Atlantis. "How can you beat that? An airplane on the side of a rocket. It's absolutely stunning. So I think we lose a little bit of grace, of beauty, and also a little bit of majesty (when the shuttle fleet is retired). You can't watch that vehicle roll by without thinking what an amazing achievement America has, that America can build something like that, put people inside and sling them off this Earth into space. It's absolutely amazing."

With Atlantis on its way, Kelly and his crewmates -- pilot Gregory H. Johnson, Michael Fincke, Gregory Chamitoff, Andrew Feustel and European Space Agency astronaut Roberto Vittori -- closed Endeavour's 60-foot-long payload bay doors at 10:45 p.m.

The astronauts had two landing opportunities Wednesday, the first at 2:35 a.m. and the second one orbit later at 4:11 a.m. If the weather or some other problem prevents re-entry, the crew plans to stay in orbit an extra 24 hours and try again Thursday. In that case, NASA also would activate its backup landing site at Edwards Air Force Base, Calif., and bring Endeavour down on one coast or the other.

But mission managers were hopeful it would not come to that and if all goes well, Kelly and Johnson will oversee a two-minute 40-second firing of the shuttle's orbital maneuvering system rockets starting at 1:29:03 a.m., slowing the ship by about 200 mph to drop it out of orbit for an hourlong glide back to Florida.

After a half-hour free fall, Endeavour will plunge into the discernible atmosphere at an altitude of about 76 miles. Approaching Florida from the southwest, Endeavour will streak high above the Yucatan Peninsula, across the Gulf of Mexico and then over the west coast of Florida above Naples, descending steeply toward the Kennedy Space Center.

Taking over manual control at an altitude of about 50,000 feet, Kelly plans to guide Endeavour through a sweeping 245-degree left overhead turn to line up on runway 15. Touchdown is expected at 2:35 a.m.

This status report will be updated after landing or as warranted. In the meantime, here is an updated timeline of events for both of Endeavour's Florida landing opportunities (in EDT; best viewed with fixed-width font):

Rev. 248 deorbit to KSC
Deorbit dT: 2:38
Deorbit dV: 201 mph

EDT...........EVENT

09:29 PM......Begin deorbit timeline
09:44 PM......Radiator stow
09:54 PM......Astronaut seat installation
10:00 PM......Computers set for deorbit prep
10:04 PM......Hydraulic system configuration
10:29 PM......Flash evaporator cooling system checks
10:35 PM......Final payload deactivation
10:49 PM......Payload bay doors closed
10:59 PM......Mission control 'go' for OPS-3 software load
11:09 PM......OPS-3 transition
11:34 PM......Entry switchlist verification
11:44 PM......Deorbit maneuver update
11:49 PM......Crew entry review
12:04 AM......Commander/pilot don entry suits
12:21 AM......Inertial measurement unit alignment
12:29 AM......Commander/pilot strap in; mission specialists don suits
12:46 AM......Shuttle steering check
12:49 AM......Hydraulic system prestart
12:56 AM......Toilet deactivation

01:09 AM......Mission control 'go' for deorbit burn
01:15 AM......Mission specialists seat ingress
01:24 AM......Single hydraulic power unit start

01:29:03 AM...Deorbit ignition
01:31:41 AM...Deorbit burn complete

02:03:33 AM...Entry interface
02:08:33 AM...1st roll command to left
02:16:58 AM...1st roll left to right
02:22:23 AM...C-band radar acquisition
02:28:48 AM...Velocity less than mach 2.5
02:31:01 AM...Velocity less than mach 1
02:31:56 AM...Left turn to runway 15
02:35:23 AM...Landing


Rev. 249 deorbit to KSC
Deorbit dT: 02:39
Deorbit dV: 199.8 mph

02:46 AM......Mission control 'go' for deorbit burn
02:52 AM......Mission specialists seat ingress
03:01 AM......Single APU start

03:06:53 AM...Deorbit ignition
03:09:32 AM...Deorbit burn complete

03:39:18 AM...Entry interface
03:44:15 AM...1st roll command to left
03:58:07 AM...C-band radar acquisition
03:58:31 AM...1st left to right roll reversal
04:04:33 AM...Velocity less than mach 2.5
04:06:46 AM...Velocity less than mach 1
04:07:14 AM...Left turn to runway 15
04:11:07 AM...Landing

=================================

CBS News Space Updates:
http://ct.cbsnews.com/clicks?t=840805144-b1f5763a1bcc876b4d45ba4c9a0973ce-bf&brand=CBSNEWS&s=5

NASA Shuttle Web:
http://ct.cbsnews.com/clicks?t=840805145-b1f5763a1bcc876b4d45ba4c9a0973ce-bf&brand=CBSNEWS&s=5

NASA Station Web:
http://ct.cbsnews.com/clicks?t=840805146-b1f5763a1bcc876b4d45ba4c9a0973ce-bf&brand=CBSNEWS&s=5

Spaceflight Now:
http://ct.cbsnews.com/clicks?t=840805147-b1f5763a1bcc876b4d45ba4c9a0973ce-bf&brand=CBSNEWS&s=5

GoogleSatTrack:
http://ct.cbsnews.com/clicks?t=840805148-b1f5763a1bcc876b4d45ba4c9a0973ce-bf&brand=CBSNEWS&s=5

CBS NEWS Coverage of Breaking Space News: 11:40 PM EDT, 05/31/11: Endeavour astronauts close payload bay doors, prep shuttle for landing

By WILLIAM HARWOOD
CBS News/Kennedy Space Center

KENNEDY SPACE CENTER, FL--Commander Mark Kelly and his five crewmates rigged the shuttle Endeavour for re-entry and landing early Wednesday to close out the orbiter's 25th and final mission, the next-to-last flight for NASA's iconic orbiter. With forecasters predicting good weather, Kelly and pilot Gregory Johnson planned to fire Endeavour's braking rockets at 1:29 a.m. EDT (GMT-4), setting up a landing at 2:35 a.m.

As recovery crews gathered at the Kennedy Space Center's 3-mile-long shuttle runway to welcome Endeavour back to Earth, another team of engineers began hauling the shuttle Atlantis to launch pad 39A for work to ready the ship for blastoff July 8 on the shuttle program's final flight.

Atlantis' crew -- commander Christopher Ferguson, pilot Douglas Hurley, flight engineer Rex Walheim and Sandra Magnus -- marveled at the view as the spaceplane, mounted atop a powerful crawler-transporter, rolled past a throng of spaceport workers who gathered near the Vehicle Assembly Building to witness NASA's last shuttle "rollout."

It's going to be a long time until you see a vehicle roll out to the pad that looks as beautiful as that," Walheim said, pointing at Atlantis. "How can you beat that? An airplane on the side of a rocket. It's absolutely stunning. So I think we lose a little bit of grace, of beauty, and also a little bit of majesty (when the shuttle fleet is retired). You can't watch that vehicle roll by without thinking what an amazing achievement America has, that America can build something like that, put people inside and sling them off this Earth into space. It's absolutely amazing."

With Atlantis on its way, Kelly and his crewmates -- pilot Gregory H. Johnson, Michael Fincke, Gregory Chamitoff, Andrew Feustel and European Space Agency astronaut Roberto Vittori -- closed Endeavour's 60-foot-long payload bay doors at 10:45 p.m.

The astronauts had two landing opportunities Wednesday, the first at 2:35 a.m. and the second one orbit later at 4:11 a.m. If the weather or some other problem prevents re-entry, the crew plans to stay in orbit an extra 24 hours and try again Thursday. In that case, NASA also would activate its backup landing site at Edwards Air Force Base, Calif., and bring Endeavour down on one coast or the other.

But mission managers were hopeful it would not come to that and if all goes well, Kelly and Johnson will oversee a two-minute 40-second firing of the shuttle's orbital maneuvering system rockets starting at 1:23:49 a.m., slowing the ship by about 200 mph to drop it out of orbit for an hourlong glide back to Florida.

After a half-hour free fall, Endeavour will plunge into the discernible atmosphere at an altitude of about 76 miles. Approaching Florida from the southwest, Endeavour will streak high above the Yucatan Peninsula, across the Gulf of Mexico and then over the west coast of Florida above Naples, descending steeply toward the Kennedy Space Center.

Taking over manual control at an altitude of about 50,000 feet, Kelly plans to guide Endeavour through a sweeping 245-degree left overhead turn to line up on runway 15. Touchdown is expected at 2:35 a.m.

This status report will be updated after landing or as warranted. In the meantime, here is an updated timeline of events for both of Endeavour's Florida landing opportunities (in EDT; best viewed with fixed-width font):

Rev. 248 deorbit to KSC
Deorbit dT: 2:40
Deorbit dV: 201 mph

EDT...........EVENT

09:29 PM......Begin deorbit timeline
09:44 PM......Radiator stow
09:54 PM......Astronaut seat installation
10:00 PM......Computers set for deorbit prep
10:04 PM......Hydraulic system configuration
10:29 PM......Flash evaporator cooling system checks
10:35 PM......Final payload deactivation
10:49 PM......Payload bay doors closed
10:59 PM......Mission control 'go' for OPS-3 software load
11:09 PM......OPS-3 transition
11:34 PM......Entry switchlist verification
11:44 PM......Deorbit maneuver update
11:49 PM......Crew entry review
12:04 AM......Commander/pilot don entry suits
12:21 AM......Inertial measurement unit alignment
12:29 AM......Commander/pilot strap in; mission specialists don suits
12:46 AM......Shuttle steering check
12:49 AM......Hydraulic system prestart
12:56 AM......Toilet deactivation

01:09 AM......Mission control 'go' for deorbit burn
01:15 AM......Mission specialists seat ingress
01:24 AM......Single hydraulic power unit start

01:29:43 AM...Deorbit ignition
01:32:23 AM...Deorbit burn complete

02:03:33 AM...Entry interface
02:08:33 AM...1st roll command to left
02:16:58 AM...1st roll left to right
02:22:23 AM...C-band radar acquisition
02:28:48 AM...Velocity less than mach 2.5
02:31:01 AM...Velocity less than mach 1
02:31:56 AM...Left turn to runway 15
02:35:23 AM...Landing


Rev. 249 deorbit to KSC
Deorbit dT: 02:39
Deorbit dV: 199.8 mph

02:46 AM......Mission control 'go' for deorbit burn
02:52 AM......Mission specialists seat ingress
03:01 AM......Single APU start

03:06:53 AM...Deorbit ignition
03:09:32 AM...Deorbit burn complete

03:39:18 AM...Entry interface
03:44:15 AM...1st roll command to left
03:58:07 AM...C-band radar acquisition
03:58:31 AM...1st left to right roll reversal
04:04:33 AM...Velocity less than mach 2.5
04:06:46 AM...Velocity less than mach 1
04:07:14 AM...Left turn to runway 15
04:11:07 AM...Landing

=================================

CBS News Space Updates:
http://ct.cbsnews.com/clicks?t=840799902-b1f5763a1bcc876b4d45ba4c9a0973ce-bf&brand=CBSNEWS&s=5

NASA Shuttle Web:
http://ct.cbsnews.com/clicks?t=840799903-b1f5763a1bcc876b4d45ba4c9a0973ce-bf&brand=CBSNEWS&s=5

NASA Station Web:
http://ct.cbsnews.com/clicks?t=840799904-b1f5763a1bcc876b4d45ba4c9a0973ce-bf&brand=CBSNEWS&s=5

Spaceflight Now:
http://ct.cbsnews.com/clicks?t=840799905-b1f5763a1bcc876b4d45ba4c9a0973ce-bf&brand=CBSNEWS&s=5

GoogleSatTrack:
http://ct.cbsnews.com/clicks?t=840799906-b1f5763a1bcc876b4d45ba4c9a0973ce-bf&brand=CBSNEWS&s=5

Financial & Forex Info | The Australian Business Briefing: Economy shrinks 1.2pc as disasters bite








 
Economy shrinks 1.2pc as disasters bite
floods coal Scott Murdoch THE Australian economy contracted in the first quarter at is steepest pace since 1991 after natural disasters disrupted exports.
 
Forrest to step down as Fortescue CEO
Andrew Forrest Robb M. Stewart FORTESCUE Metals Group founder Andrew Forrest is to resign as CEO of the mining company on July 18 and take up the post of chairman.
 
BHP wins High Court tax case
tax office Susannah Moran BHP Billiton beat the tax man in a High Court ruling today, with the mining giant gaining a $US580 million tax credit as a result.
 
Goodman Fielder appoints new CEO
Chris Delaney, Goodman Fielder CEO Katherine Jimenez BAKING goods and dairy products company Goodman Fielder has appointed Chris Delaney as the company's new chief executive.
 
Ericsson seals $1bn NBN wireless deal
Wireless UPDATED Mitchell Bingemann NBN Co has selected Ericsson to build the fixed wireless portion of the new network in a deal worth $1.1 billion over 10 years.
 
Apple in music deal as iCloud forms
Steve Jobs, Apple CEO Ethan Smith and Yukari Iwatani Kane APPLE has struck deals with major recorded-music companies as CEO Steve Jobs prepares to unveil the iCloud service and software updates.
 
Vale confident in China's ore appetite
iron ore Diana Kinch VALE says China shows no signs of losing its appetite for iron ore and prices will remain high with the country building 22 cities a year.
 
Bradken to hunt after raising: analysts
rail line Michael Bennet ACQUISITIONS are on the agenda for Bradken, which fell in early trade after it priced its $162 million capital raising at a discount.
 
Financial Markets
Stocks slip as banking sector weakens
ASX, Exchange Centre, sharemarket, stock market, stocks THE Australian stock market was marginally weaker by early afternoon, trading in a tight range amid subdued conditions and low turnover.
 
Wall St rallies on Greek aid hopes
Gold lags as limelight on other metals
 
Financial Markets Coverage
 
Mining & Energy
BHP wins High Court tax case
tax office Susannah Moran BHP Billiton beat the tax man in a High Court ruling today, with the mining giant gaining a $US580 million tax credit as a result.
 
Bradken to hunt after raising: analysts
Forrest to step down as Fortescue CEO
 
More Mining & Energy Coverage

Financial & Forex Info | Kitco Market Hourly Report







New York Market Close May 31/11 05:22 PM EDT
Metals
Bid
Ask
Change
Low
High
Gold
1534.30
1535.30
-4.80
-0.31%
1531.60
1541.40
Silver
38.47
38.67
0.40
1.05%
37.79
38.92
Platinum
1831.00
1837.00
34.00
1.89%
1799.00
1841.00
Palladium
777.00
783.00
21.00
2.78%
757.00
789.00

Financial & Forex Info | Reuters - Daily Investor Upadte: Greece hopes buoy Wall Street but investors still wary









News
LATEST NEWS
Greece hopes buoy Wall Street but investors still wary
NEW YORK (Reuters) - Wall Street bulls took the upper hand with a 1 percent rally on Tuesday as hopes for a new plan to deal with Greece's debt crisis relieved some investor worry, but grim economic data suggested more hurdles ahead as the S&P 500 closed out its worth month since August. | Full Article

Weak data point to sluggish economy
May 31, 2011 03:52 PM ET
NEW YORK (Reuters) - A double-dip in home prices, pessimistic consumers and a slowdown in regional manufacturing raised concerns on Tuesday that the economy's soft patch could become protracted. | Full Article
Gas prices likely dampened May retail sales
May 31, 2011 03:50 PM ET
NEW YORK (Reuters) - U.S. retailers are expected to show a moderate increase in May sales, as high gas prices likely tempered consumer demand for summer clothing and other discretionary items. | Full Article
Nokia drops targets and shares slump to 13-year low
May 31, 2011 01:02 PM ET
HELSINKI (Reuters) - Mobile phone maker Nokia Oyj abandoned hope of meeting key targets just weeks after setting them, raising questions over whether its new boss can deliver on the turnaround he promised in February. | Full Article
Greece moves on austerity deal, opposition wants more
May 31, 2011 02:44 PM ET
ATHENS (Reuters) - Greece appears to have agreed a tax cut with its international lenders, aimed at forging a broad consensus for more austerity to avoid a debt default, but the opposition said on Tuesday this would still not win its support. | Full Article
US TOP NEWS
U.S. files new charges against September 11 accused
May 31, 2011 02:52 PM ET
MIAMI (Reuters) - U.S. military prosecutors have filed new charges against the self-described mastermind of the September 11 attacks in 2001, Khalid Sheikh Mohammed, and four alleged co-conspirators held at the Guantanamo detention camp. | Full Article
Yemen truce ends in blasts, stokes civil war worries
May 31, 2011 03:53 PM ET
SANAA (Reuters) - Street fighting raged in Yemen's capital on Tuesday ending a tenuous ceasefire between tribal groups and forces loyal to President Ali Abdullah Saleh and edging the impoverished Arab state closer to civil war. | Full Article
Libya's Gaddafi: I will not leave my country
May 31, 2011 03:05 PM ET
TRIPOLI (Reuters) - Muammar Gaddafi is emphatic he will not leave Libya, South African President Jacob Zuma said on Tuesday after talks with the Libyan leader that left prospects for a negotiated end to the conflict looking dim. | Full Article
Palin tour: campaign prelude or publicity stunt?
May 31, 2011 02:47 PM ET
WASHINGTON (Reuters) - Sarah Palin is going rogue again, confounding the press and delighting fans on a family bus tour that could be a prelude to an unconventional White House campaign -- or a branding exercise for Palin Inc. | Full Article
Egypt's Mubarak unfit for prison move: prosecutor
May 31, 2011 08:50 AM ET
CAIRO (Reuters) - Egypt's public prosecutor said on Tuesday that ousted President Hosni Mubarak was in no condition to be transferred to a prison hospital and would remain in a health facility in a Red Sea resort for the time being. | Full Article
HEALTH NEWS
WHO says cell phone use "possibly carcinogenic"
Smoking could kill 8 million a year by 2030: WHO
Killer bacteria claims victims in Germany, Sweden
Kids with stubborn asthma may have food allergy
Mouse virus doesn't cause chronic fatigue: reports

The washington Post | Post Politics Afternoon Edition: The Take: Sarah Palin rewrites the rulebook


The Washington Post


Politics Afternoon Edition

HEADLINES

  1. The Take: Sarah Palin rewrites the rulebook

    Sarah Palin continues to thumb her nose at political convention. But to what end?
    » Read full article
  2. 2chambers: Allen West: More defense spending needed

    An outspoken GOP House freshman is calling for more, not less, defense spending.
    » Read full article
  3. Supreme Court: Ashcroft can’t be sued over post-9/11 detention

    By a 5-3 vote, the court said the former attorney general did not violate the rights of an American Muslim who was never charged.
    » Read full article
  4. Obama picks former oil executive to head Commerce Department

    President Obama nominated former energy company executive John Bryson as his new commerce secretary Tuesday.
    » Read full article
  5. RNC takes back seat on redistricting

    The Republican State Leadership committee will fill much of the national committee’s traditional role.
    » Read full article

CBS NEWS | : Political Hotsheet Top Stories : Palin bus tour treats reporters like paparazzi

The CBS News Political Hotsheet newsletterCBS Political


CBS POLITICAL HOTSHEET TOP STORIES    



   
Has decision not to tell media where she is headed become a "dangerous" cat and mouse game?
Read full story
Palin bus tour treats reporters like paparazzi

Romney gives himself better than 50-50 odds The GOP presidential candidate and former governor calls Barack Obama a "failed" president

Weiner hires lawyer after Twitter incident Democratic Congressman Anthony Weiner is considering civil or criminal charges after his Twitter account was allegedly hacked

Palin: GOP 2012 field At a stop in Gettysburg, Sarah Palin promises "unconventional" campaign style...if she runs

Obama to Joplin: There are heroes all around us President's remarks at Joplin, Mo., memorial service for tornado victims



MarketWatch | Personal Finance Daily: Sales data signal double-dip in housing

MarketWatch
Personal Finance Daily
MAY 31, 2011

Sales data signal double-dip in housing

By MarketWatch



Don't miss these top stories:

Far from a real recovery, the U.S. housing market has entered a double-dip recession, as evidenced by data released Tuesday. U.S. home prices fell in March for the eighth straight month, and home prices in 20 major U.S. cities dropped 0.8% in March on a non–seasonally adjusted basis, according to the Case-Shiller home-price index released by Standard & Poor's. The data are new, but the story's been hanging over our heads for some time. In fact, MarketWatch real-estate columnist Amy Hoak wrote about the looming double dip in our spring home-buying and selling special report. Home for sale this spring? Better luck next year.

MarketWatch commentary editor Rex Nutting writes today in his First Take analysis on the home-price news: Housing is still holding back the economy, nearly five years after the bubble began to deflate. And there's no end in sight. Nutting says there's been a lot of debate during the past two years about "why this economic recovery has been so awful." The biggest reason, he says, is housing — specifically, housing debt.

He writes: "Unfortunately, falling prices only make the debt burden tougher to handle. But lower prices are needed to revive the industry. Mortgage lenders and servicers need to face the facts: You lent out too much money and you will never, ever be repaid. You need to get serious about loan modifications, so you, the homeowners and the rest of the economy can move on. Otherwise, it's going to be years before housing stops being an anchor weighing us down."

Don't miss the story on the housing data, or Nutting's First Take column.

Anne Stanley , managing editor, personal finance

Housing in double-dip decline as prices fall again

U.S. home prices fall in March for the eighth straight month, pushing the index into double-dip downturn, according to the Case-Shiller home-price index released by Standard & Poor's.
Read more: Housing in double-dip decline as prices fall again.


Say goodbye to the office cubicle

Companies are increasingly creating offices where workers can be more productive and collaborative, where ever-important natural light shines on the masses and people are generally happier to go to work.
Read more: Say goodbye to the office cubicle.


Treating Medicare's ills — and yours

There is plenty that current and future Medicare beneficiaries can do now and in the future to make sure they have adequate health-care coverage after age 65.
Read more: Treating Medicare's ills — and yours.


INVESTING

Housing still holding us back

Housing is still holding back the economy, nearly five years after the bubble began to deflate, and there's no end in sight, writes Rex Nutting.
Read more: Housing is still holding back the economy.


Latest ‘soft patch' catches economists off-guard

Now that the current quarter is two-thirds finished, it is rapidly becoming apparent that, for the second quarter in a row, pundits overestimated the pace of economic activity, writes Irwin Kellner.
Read more: Latest ‘soft patch' catches economists off-guard.


Update on inflation-deflation battle

The top-performing investment advisers persist in their bet from early January in believing that inflation will win out over deflation this year — despite sporting losses in each of the mutual funds they were highly recommending at the time.
Read more: Update on inflation-vs.-deflation battle.


Why no jail time for Wall Street CEOs?

It's the most-asked question to come out of the financial crisis: Why aren't any Wall Street CEOs in jail? Columnist David Weidner has the answers.
Read more: Why no jail time for Wall Street CEOs?


ECONOMY AND POLITICS

Congress plans symbolic vote on U.S. debt ceiling

The House is expected to reject a bill Tuesday that would let the heavily indebted U.S. government borrow more money without any strings attached. Conservatives hope its failure sends a message to President Obama that he needs to support deep spending cuts.
Read more: Congress plans symbolic vote on debt ceiling.


U.S. consumer confidence declines in May

Consumer confidence fell in May as Americans grew slightly more pessimistic about job prospects and future business conditions, according to a closely followed survey.
Read more: U.S. consumer confidence declines in May.


Chicago manufacturing gauge nosedives

A Chicago-area manufacturing gauge dropped by the largest amount in nearly 2 ½ years in May — a further sign that the rise in oil prices and the Japanese earthquake have affected activity.
Read more: Chicago manufacturing gauge nosedives.


Moody's puts Japan on review for downgrade

Ratings agency places Japanese bond ratings on review due to long-term fiscal concerns.
Read more: Moody's puts Japan on review for downgrade.


China developers to write down asset values

Falling land prices may prompt Chinese property developers to write down the value of their assets, forcing a sober reassessment for those with vast land holdings, according to a new survey.
Read more: China developers to write down asset values.

FDIC: Financial Institution Letter: Electronic Filing by Banks Reporting to the FDIC Under The Securities Exchange Act of 1934 and Part 335 of the FDIC's Regulations



Financial Institution Letter
Electronic Filing by Banks Reporting to the FDIC Under The Securities Exchange Act of 1934 and Part 335 of the FDIC's Regulations
Voluntary Transition Period for Publicly Owned FDIC-Supervised Banks
FIL-40-2011
May 31, 2011


Summary: FDIC-supervised banks and associated parties are encouraged to use FDICConnect to access an electronic filing system for Securities Exchange Act filings and submit periodic reports, proxy materials, other securities disclosure documents, and related correspondence to the FDIC. Publicly available securities disclosure documents filed via FDICConnect generally will be immediately accessible on the FDIC's Web site.

Statement of Applicability to Institutions under $1 Billion in Total Assets: With respect to electronic filing, this Financial Institution Letter applies only to FDIC-supervised banks, including community banks, that have a class of equity securities registered with the FDIC under the Securities Exchange Act. The publicly available securities disclosure filings by such FDIC-supervised banks may be of interest to all institutions.

MarketWatch | Market Pulse: U.S. home prices in double-dip recession after 0.8% March drop: Case-Shiller



WASHINGTON (MarketWatch) -- The prices of single-family homes in 20 major cities fell for the eighth straight month and confirmed that there is a double-dip in the housing market, according to the S&P/Case-Shiller home price index released Tuesday by Standard & Poor's. Home prices fell a non-seasonally adjusted 0.8% in March. Prices have moved down 3.6% in the past year. Home prices declined in 18 of the 20 metropolitan areas tracked by Case-Shiller in March compared with February. Washington D.C. and Seattle were the only markets where home prices increased in March.

The Washington Post Today's Opinions

The Washington Post
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Which Burma to engage?

We can either deal with its brutal rulers or the forces working for democracy.

Eugene Robinson

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Self-demolition derby

Sarah Palin’s bus trip points up a big problem for the GOP’s 2012 field.

Michael Gerson

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Rescuing Medicare

Three things for the GOP to keep in mind if it wants to mend entitlements.

Richard Cohen

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What sparks evil?

Hard times don’t produce hardened criminals.
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