Friday, October 29, 2010 myBiz Blog
MarketWatch 10.31.10 by Katie Coon

U.S. Economy Grew at a 2% Rate in the Third Quarter

The United States economy grew at an annual rate of 2 percent in the third quarter, the Commerce Department reported Friday, as it struggles to gain any momentum for a sustained recovery.  That estimate matched the consensus forecasts for the gross domestic product, and is a slight uptick from the second quarter.  Source:  NYT

FDA rejects highly-anticipated diet drug Qnexa

Federal health regulators have decided not to approve an experimental diet pill called Qnexa, which had been touted by many experts as the most promising weight-loss drug in more than a decade.  The drug's maker, Vivus Inc., said in a statement Thursday that the Food and Drug Administration declined to approve the drug in its present form. The agency asked for more study results and additional information on its possible health risks, including major cardiovascular events and risks for women of childbearing potential.  Source:  Yahoo!

Tax credits to help Quad/Graphics add jobs

Quad/Graphics, Sussex, will restart printing equipment that was mothballed last year during the recession and will buy new equipment and technology with the help of $46 million in state enterprise zone tax credits. As a result, the company — one of the largest printers in North America — will create up to 1,300 jobs and keep 5,500 existing jobs in Wisconsin. With the acquisition in July of competing magazine printer Worldcolor, Quad/Graphics already has added more than 250 jobs in Wisconsin and expects to fill another 420 positions quickly, the company said. Established in 1971, Quad/Graphics has 6,700 employees in Wisconsin and 28,000 worldwide.  Source:  Wisconsin State Journal