Thursday Afternoon Newscast

The Social Security Administration says there will be no cost of living increase next year for more than 50 million Social Security recipients. This will be the first year without a raise since automatic adjustments were adopted in 1975. The cost of living adjustments are pegged to inflation, which is negative this year because of lower energy costs. Social Security payments, however, cannot go down.

Businesses receiving federal contracts under the economic stimulus program say they’ve created or saved more than 30,000 jobs so far. But, those numbers are only based on the first 16-billion dollars in contracts. That’s a small part of the entire 787-billion dollar stimulus package. Critics say the stimulus only created public sector jobs, but the businesses reporting jobs range from small roofing companies to large corporations that clean up nuclear waste.

Lockheed Martin says Christopher Kubasik will serve as president and chief operating officer, starting on January first. The defense contractor says Kubasik will assume the role of president, previously held by CEO and chairman Bob Stevens, who will remain in those two positions. Lockheed said Kubasik, formerly executive vice president of electronic systems, will oversee all four of the company’s business areas. A replacement has not been named for Kubasik.

More cell phone users will be able to get service in the Metro starting tomorrow. A new wireless network will provide service to customers of Verizon Wireless, Sprint Nextel, AT&T and T-Mobile. Previously, only Verizon Wireless customers had service in the subway system, along with Sprint phones that could roam onto the Verizon network. Metro plans to open the new network at 20 of the transit system’s busiest stations. It is part of an agreement to secure one-and-a-half Billion dollars in federal funding over 10 years.

Other News Links

Stagnate Consumer Prices Prevent Social Security Benefit Increases (Washington Post)

DorobekInsider: GovExec exec Matt Dunnie exit and media notes

Defense secretary weighs whether to urge veto of authorization bill (GovExec)

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