President Obama announced Penny Pritzker as his nomination to head the Commerce Department. Pritzker, the billionaire heiress to the Hyatt hotel fortune, has been a long-time supporter of and fundraiser for the president.
Frontier Airlines will begin charging $1.99 for coffee and tea on flights and higher baggage fees for travelers who don’t book online. The airline says the move was made to become an “ultra-low-cost airline.”
Rapiscan, the maker of X-ray scanners used in airports, says its machines passed all 700 inspections performed last year, proving their radiation levels are safe. The units are being phased out this year for updated devices using millimeter wave technology, but the company nevertheless said these tests prove the machines were not harmful to travelers.
After 12 years of positive growth, gold has entered the bear market territory. The latest economic news that unemployment is down to 2008 levels added more trouble to gold’s stock price. As the dollar rose in value, gold dropped to its lowest levels in two years.