Economy

Colorado's ski industry, a major part of the state's tourism economy,is bouncing back after last year's economic downturn kept many vacationers away.

MGM Mirage decided this week to close its glitzy Borgata property in Atlantic City, in part due to its ties with "unsuitable" gambling-family scion Pansy Ho (pictured). The move further suggests the end is nigh for the faded New Jersey beachfront resort. Notes one local observer: "Atlantic City is not for the faint of heart."

With a painful recession, frozen credit and massive unemployment drawing consumers away from pricey brands, some automakers are abandoning their most flamboyant brands. Mercedes is reportedly killing Maybach, GM is axing Hummer, and Ford may be getting ready to put the Lincoln Town Car to rest.

The Federal Reserve must reveal documents identifying financial companies that received Fed loans to survive the financial crisis, a federal appeals court ruled Friday. A 2nd U.S. Circuit Court of Appeals panel said that such information isn't automatically exempt from FOIA requests.

Though many Americans are weary of the debate as Congress prepares to vote on one of President Obama's highest legislative priorities, experts note that this is only one battle in a very long war. And if it passes, things may get only hotter and more contentious.

Since the bursting of the credit bubble, debt markets have seemingly become a leading indicator for stocks. If the two markets' new relationship is still valid, the recent divergence between them could indicate that stock prices have gotten a bit too optimistic again.

China will send an envoy to Washington next week to ease tensions over trade and the rate of exchange for the Chinese yuan, which some U.S. lawmakers say is unfairly undervalued by as much as 40%.

Some of Friday's best reads for investors from the Internet, including my favorite stock for less than $5, 20 reasons to be optimistic about the economy, and should Michael Burry succeed Warren Buffett?

In Asia Friday, China's Shanghai Composite Index rose 0.7% and Hong Kong's Hang Seng Index inched up 0.2%, helped by the territory's relentlessly climbing property prices. In Japan, the Nikkei 225 Index gained, with exporters getting a boost from the recent U.S. jobs report.

Bernie Madoff may or may not have been beaten in prison, and two of his former employees may be joining him there. As the Wall Street Journal continues to breathlessly report on the Ponzi King, the real news may be that the stolid newspaper is becoming a gossip rag to the Street.