Biz bits

DDA plans trip to look at Little Rock's trolleys

Members of the Downtown Development Authority of Augusta will travel to Little Rock, Ark., in January to get a first-hand look at its streetcar system.

A trip there this month was postponed. Upon return, authority members will set a public input session.

The engineering firm hired to complete a study on whether a streetcar system is feasible for Augusta should have its work done in March, said Margaret Woodard, the DDA's executive director.

The firm, URS, will be paid $40,000 for the study from local sales tax money.

Treasury bond yields dip to record lows

NEW YORK --- Investors flooded into government debt again on Thursday, launching the 30-year Treasury bond to a huge one-day gain as worries mounted about an auto industry collapse.

The 30-year bond rose more than 9 points, hurtling its yield down to 3.46 percent -- the lowest level since the government started issuing the bond in 1977 -- from 3.91 percent Wednesday.

Other Treasury yields hit multi-decade lows, too, as the Dow Jones industrial average tumbled 445 points. The yield on the benchmark 10-year Treasury note sank to 3 percent, the lowest point since 1958, while the 2-year note's yield sank to 0.97 percent, the lowest level since 1947, according to Global Financial Data in Los Angeles.

In other news

A RESTRUCTURING expert overseeing the liquidation of Lehman Brothers, Bryan Marsal of Alvarez & Marsal, will replace Richard Fuld as chief executive on Dec. 31.

CITIGROUP INC. shares tumbled below $5 a share Thursday to their lowest level in more than 15 years, despite a Saudi prince's decision to boost his stake in the bank.

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