'Fiscal cliff' scares Wall St.
Stocks fell for a fifth day, the longest streak since July, on concerns Washington lawmakers will fail to reach a budget deal before a self-imposed yearend deadline, The Associated Press reported. The Dow Jones on Friday alone dropped 158.20 points to 12,938.11 points.
Milk price could surge
The price of a gallon of milk could rise to $6 to $8 a gallon next year if Congress fails to pass a new farm bill before Jan. 1. The bill might be tied into a "fiscal cliff" deal.
Americans avoid Wall Street
Ordinary Americans are selling stocks for a fifth year in a row despite unprecedented measures by the Federal Reserve to persuade people to buy. Stock prices have doubled from March 2009, their low point during the Great Recession. It's the first time ordinary folks have sold during a sustained bull market since relevant records were first kept during World War II, The Associated Press reported.
Contract brings jobs, trash
J.P. Mascaro & Sons, of Audubon, Pa., landed a $135 million contract to transport Morris County, N.J., garbage to the Keystone Sanitary Landfill in Dunmore, hauling in 65 new jobs and 400,000 tons of municipal solid waste annually. The company has purchased 27 new trucks and 68 trailers and is renovating a 5,000-square-foot depot on Monahan Avenue to house the new division. The depot will be used to house and service the trucks. Mascaro is hiring Class A licensed drivers at a base salary between $47,000 to $54,000 per year.
Snö Mountain starts season
Snö Mountain kicked off the ski season with eight trails and a full lodge and was the strongest season kickoff in several years. Snö Mountain filed for Chapter 11 bankruptcy reorganization in October. A judge ordered the trustee overseeing the bankruptcy reorganization to hold an auction of the property by March 1 and close the sale by April 8.
6 acres donated to food bank
Developer Robert K. Mericle donated a 6.35-acre parcel in a Jenkins Twp. industrial park for the construction of a Weinberg Northeast Regional Food Bank. The donation, the organization said this week, is valued at more than $1 million and included site preparations necessary to make the property ready for construction of the 50,220 square-foot facility as early as next spring.
Power line moves forward
PPL Electric Utilities has taken the next step in a controversial $200 million power line project that will run through North Pocono communities, submitting it to the state Public Utility Commission for approval.