Business Update: Mortgage band-aid

March 04, 2009

The Obama Administration provided new details on its $75 billion mortgage modification plan aimed at slowing foreclosures. Private payrolls are cut by more than expected in February, while layoff announcements dipped but remain high. The nation's services continued to shrink last month. GE shares touched a 1991 low in early Wednesday trade. Conway Gittens reports from New York.