Economy

Top executives at Bank of America are meeting today to talk about eliminating roughly 40,000 jobs during the first wave of a restructuring that aims to reduce the bank's workforce of 280,000 over a period of years.

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The primary manager of Texas’ electric power grid is waving the red warning flags again.  They say the state could set another record for power usage this week as the heat wave continues, and people need to use less electricity to keep the entire system from breaking down.

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The Real Estate Center at Texas A&M has released a report showing the Longview metro area of Gregg, Rusk and Upshur counties posted a 4.2 percent rate of employment growth for the period of June 2010 through this June.  That's the highest rate in the state.

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Texas Senator Kay Bailey Hutchison, R-Texas, is calling on NASA to announce the design for the next generation Space Launch System, or SLS, before more jobs are lost.

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Maybe it's the shaky economy, and the financial uncertainty and insecurity it's causing all over the country. Whatever their reasons, it's a fact that millions of people are paying off all their bills, including their mortgages, and discovering the pure unadulterated liberated joy of living "debt-free".  A lot of them live in Angelina County.

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State agriculture officials say the relentless drought is causing a major economic disaster for Texas farmers. It's the worst drought in the state's history, and the most costly. Texas agriculture losses could exceed $5.2 billion statewide if the drought doesn't end soon.

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Retail stores across Texas are preparing and bracing for the onslaught of customers during the state’s annual tax holiday Friday through Sunday.

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It's happening in Tyler and Longview.  About 75 contract employees who help people who are out of work will be unemployed by the end of September.

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