Today's Business Roundup

US Stocks

 After yesterday’s debt fallout and IMF troubles, US stocks feel the pain. The Dow is down -53.59. The S&P continues its 5 day losing streak with a decline of -1.86 points. The Nasdaq is down -4.94 points.

‘Super’ Fail

After months on end of partisan bickering, the Super Committee has failed and President Obama hits the road. Obama is heading to New Hampshire to push his Jobs Agenda and the extension of payroll tax holidays. Republicans are gearing up to stop the automatic defense spending cuts.

Holiday Travel

The Wednesday before Thanksgiving is the biggest travel day of the year. Some may think that airlines are raking in the big bucks; not true. Airlines are actually shelling out the cash for rising jet fuel costs. Airlines will be working very hard this Holiday season to fill every seat on the plane and avoiding costly cancellations.

Poll: Newt Surges To Top Of GOP Presidential Field

Former House Speaker Newt Gingrich has surged to the top of the GOP presidential field, according to figures from a Quinnipiac University poll. 

The poll shows Gingrich leading the cluttered field with 26 percent support from likely voters. Former Massachusetts Governor Mitt Romney comes in second with 22 percent support. 

“The question for Gingrich, as was the case for U.S. Rep. Michele Bachmann, Rick Perry and Herman Cain, is whether he is just the flavor of the month or whether he can sustain his meteoric rise,” said Peter Brown, assistant director of the Quinnipiac University Polling Institute.

Pizza mogul Herman Cain has seen a sharp drop in in recent weeks, spiraling from his position atop the field with 30 percent support down to just 14 percent. Cain’s drop could have resulted from the onslaught of sexual harassment allegations he was accused with or, perhaps, the recent fumble in answering a foreign policy question on Libya. Regardless, Cain’s figures still trump this of Texas Congressman Ron Paul and Texas Governor Rick Perry, who both managed to rake in 6 percent support. 

The poll was conducted from Nov. 14-20 and included 2,552 registered voters.  

Construction Employment Fluctuates Throughout Country

According to new data released by the Associated General Contractors of America of Labor Department on Tuesday, construction employment rose in half the nation’s states but decreased in the other 25 last year.

“Construction employment gains are likely to remain spotty for months to come,” Ken Simonson, the association’s chief economist, wrote in a press release. “Local factors, rather than regional or industry trends, seem to dictate whether a state has rising or falling construction employment in a given month.”

North Dakota recorded a 19 percent gain in construction jobs over the past year, ranking it first among other states that recorded gains. Oklahoma and Washington, D.C. ranked second and third place in construction employment gains, respectively.

Georgia lost 9.5 percent of its construction jobs from September to October, the highest percentage among states whose employment numbers in the contruction sector dropped. 

Association officials worry that the super committee’s failure to reach a deal to cut the U.S. deficit will have a negative impact on construction employment. Mandatory federal spending that are set to take effect as a reuslt of the 12-member panel’s failure will likely cut investments into infrastructure projects across the U.S.

Click Here to see the full report…

White House Standing Firm Against Sequester Repeal

White House Press Secretary Jay Carney told reporters Tuesday that President Obama meant it when he said last night that he would veto any effort by lawmakers to undo a series of automatic spending cuts set to take effect in 2013.

The cuts, or “sequestrations,” were triggered yesterday when the congressional ‘super committee’ failed to pass a plan to reduce the nation’s deficit by roughly $1.3 trillion over the next decade. Obama responded to the committee’s collapse by warning Congress that “there will be no easy off-ramps on this one.”

Already, some lawmakers have stated their intention to prevent the cuts from taking shape. Speaking to reporters traveling to New Hampshire today aboard Air Force One, Carney said that there is “no wiggle room” in the president’s position on the automatic cuts.

The cuts would target U.S. non-defense and defense budgets equally.

Reid Supports Administration's Lawsuit Against Alabama

By Adrianna McGinley

Senate Majority Leader Harry Reid (D-Nev.) released a statement Monday in support of a group of twelve lawmakers who traveled to Alabama this week to see first-hand the effects of the state’s anti-immigration law, HB 56.

“The concern I’ve always had from the first time I heard about this Alabama legislation is it would create without any question racial profiling and that is something that we just don’t stand for in this country,” Reid said.

The controversial law has sparked several lawsuits against the state, including a federal investigation by Attorney General Eric Holder.

Reid expressed support for the administration’s investigation and urged Republicans to stand with Democrats on the issue.

“Our immigration is broken, but we cannot fix it with a patchwork of fifty different immigration laws,” Reid said. “Instead of supporting divisive laws such as Alabama’s, Republicans should stop obstructing comprehensive immigration reform and work with us to achieve a real solution.”

Since the implementation of the law there have been reports of people fleeing the state, which has led to farms and local businesses reporting a loss of workers and customers, loss of crops, increased absentee rates in schools, and foreign investors losing confidence in Alabama’s economy.