Economy

Former Assistant U.S. Attorney Michael McCrum has been named special prosecutor to lead an investigation of Texas Gov. Rick Perry.

The National Conference of State Legislatures is urging Congress to take action on several issues, including transporation funding, tax-exempt financing of water infrastructure, the federal deficit and online sales taxes.

Presence Health in Illinois will privately place up to $215 million of bonds in a deal that restructures outstanding debt of the two Chicago area systems that joined in 2011 to form the new system.

Ill. Gov. Pat Quinn last week formed an independent task force to review and recommend management and oversight reforms for the Chicago region's public transit system that could affect the future of the Regional Transportation Authority of Illinois.

California was not the only target of a transit union's efforts to exempt transportation employees from state pension reform efforts. Wisconsin, Minnesota, New Jersey and Massachusetts have complied.

Michigan lawmakers are taking a fresh look at a long-stalled plan to raise $1.2 billion in new money for the state's transportation infrastructure.

The Santa Rosa Bay Bridge Authority, which has been in default on toll revenue bonds since July 2011, has agreed to have a traffic study done.

The federal government's attempt to block bankrupt American Airlines' merger with US Airways Group Inc. could have a "marginally positive" impact on U.S. airports, Fitch Ratings said in a report.

South Carolina's Charleston County Airport District plans to sell $175 million of bonds for improvements at Charleston International Airport.

Hunts Point Terminal Produce Market received a $10 million federal TIGER grant from the U.S. Department of Transportation for freight rail improvements.

The judge overseeing American Airlines' bankruptcy put confirmation of the carrier's restructuring plan on hold after the federal government moved to block its merger with US Airways Group.

The credit ratings of 15 California transit agencies are on review for downgrade by Moody's Investors Service because the Obama administration is challenging changes to state pension law.

Moody's Investors Service has put the Ba2 rating of Somerset Medical Center on review for a downgrade, affecting $80 million in outstanding debt.

Two small revenue deals from Michigan — a state transportation refunding and a school district financing — found buyers this week at acceptable rates, breaking a logjam on issuance from the state following Detroit's bankruptcy filing.

The Federal Transit Administration on Wednesday published a policy guidance document about the evaluation criteria and rating process for transit projects seeking funding under the New Starts and Small Starts grant programs.

Dallas-Fort Worth International Airport moved pricing on its latest bond sale ahead by one day.

Oklahoma City Airport Trust will fund a new rental car facility at Will Rogers World Airport with $50 million of taxable revenue bonds.

Los Angeles Mayor Eric Garcetti announced his seven appointments to the city airport board that formulates policy for Los Angeles International Airport and three other airports.

The Justice Department and attorneys general from six states and the District of Columbia moved to block bankrupt American Airlines' proposed merger with US Airways under federal antitrust laws.

The Connecticut Airport Authority's board of directors voted to create an economic development incentive zone at Waterbury-Oxford Airport, said Gov. Dannel Malloy.