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The campaign is likely to intensify Monday as members of the Federal Reserve Board begin two days of public hearings on the proposed $4.1 billion stock deal.

The acquisition, which is expected to close in the third quarter, would make Charlotte, N.C.-based Bank of America the nation's largest mortgage lender in addition to the nation's largest consumer bank.

The Fed is required to consider whether the deal would harm consumers. It held its initial public hearing last week in Chicago.

In Los Angeles, four members of the Federal Reserve Board are scheduled to hear from officials with Bank of America and scores of speakers from state government, consumer and business groups, and labor unions, among others.

Continental Chairman and Chief Executive Lawrence Kellner said in a message to employees that the Houston-based airline was better off alone than merging.

"We have significant cultural, operational and financial strengths compared to the rest of the industry, and we want to protect and enhance those strengths - which we believe would be placed at risk in a merger with another carrier in today's environment," Kellner told employees.

Although it reported an $80 million loss in the first quarter, Continental is widely viewed as the second-strongest U.S. carrier in financial terms, behind only Southwest Airlines Co., which has indicated it isn't interested in a merger.

Continental's decision stunned United's parent, UAL Corp., which had been in advanced talks with Continental and expected to complete a deal by early May.

"We don't want to run overtime for employees just to produce breakfast," said assistant general manager Rick Reynolds. "That doesn't make financial sense."

Employers around the country who thrive on seasonal business are preparing to lose thousands of foreign workers they've hired in past summers to work in restaurants, hotels, landscaping and other industries. New visa controls are cutting the number of temporary foreign workers eligible to return to the country, so employers are scouring job fairs for replacements, lobbying Congress for help and bracing for staff shortages they say will make business tough.

Tourism and hospitality officials envision various problems if the jobs go unfilled: Restaurants may have fewer tables and longer wait-times. Hotel check-in times could be delayed as fewer housekeepers hustle to clean rooms. Resorts may offer fewer meals to guests.

"They will function, they will survive, they will be open - they just won't thrive," warned Jane Nichols Bishop, a Cape Cod consultant who matches up foreign seasonal workers with businesses.

The newspaper's annual Rich List ranked steel magnate Lakshmi Mittal as Britain's wealthiest man for the fourth year running. It put the Indian-born tycoon's fortune at 27.7 billion pounds, or $55 billion, up more than 8 billion pounds from last year.

Russian oil magnate Roman Abramovich, owner of London's Chelsea soccer team, was in second place, with wealth of 11.7 billion pounds, or $23.2 billion.

The Duke of Westminster was in third place with 7 billion pounds ($14 billion). The Briton owns huge parcels of land in central London and elsewhere.

Indian-born industrialists Ari and Gopi Hinduja were in fourth place with wealth of 6.2 billion pounds ($12.4 billion). Russian steel and mining magnate Alisher Usmanov was ranked fifth with wealth of 5.7 billion pounds ($11.4 billion).

The Internal Revenue Service started making the direct deposits on Monday with the goal of completing 800,000 payments each day over the first three days of this week. No deposits will be made Thursday while the IRS prepares a big batch of 5 million direct deposits scheduled on Friday.

The IRS had expected to begin the program in May but was able to start a few days earlier by utilizing a computer system that can process payments on a daily basis. The government's paper checks will start going out on May 9, a week earlier than previously announced.

The rebates, which are expected to reach 130 million households, range up to $600 for an individual and $1,200 for married couples plus $300 for eligible children younger than 17.

The rebates were the centerpiece of the government's $168 billion economic stimulus package enacted in February and are designed to bolster consumer spending and lift the economy out of the doldrums.

Fed Chairman Ben Bernanke and his colleagues are walking a tightrope. They are trying to shore up economic growth and at the same time they are mindful that they can't let inflation get out of hand. It's a bit of an economic dilemma: The very rate reductions the Fed depends on to energize the economy can also sow the seeds of inflation down the road.

"It's a very challenging environment," said John Silvia, chief economist at Wachovia.

In a nod to those conflicting forces, the Fed probably will opt for a moderate-sized rate reduction of one-quarter percentage point at the end of its two-day meeting on Wednesday, Silvia and other economists predict.

The Fed, which has been cutting rates since last September, turned more forceful in January and March, when housing, credit and financial problems took a turn for the worse, threatening to plunge the country into a deep recession. The rate cuts in January and March marked the most aggressive Fed intervention in a quarter-century.

The cost of sending a first-class letter will rise a penny to 42 cents on May 12, but the Forever stamps -- currently selling for 41 cents -- will remain valid for full postage after the increase.

Forever stamps were introduced last year and since then more than 6 billion have been sold, with interest growing as the rate increase nears.

"We knew the Forever Stamp would be a big hit with our customers and we continue to replenish our stock to meet demand," said Postal Service Consumer Advocate Delores Killette. "We introduced these stamps as a customer convenience to ease the transition during price changes."

Unlike the Forever stamps, other 41-cent stamps will require additional postage when the new rates take effect. Postal officials said they printed an additional 1.5 billion 1-cent stamps in anticipation of the demand.

The Conference Board, a private business research group, releases its April survey of consumer confidence at 10 a.m. EDT. The consensus estimate of Wall Street economists surveyed by Thomson/IFR is 62, slipping from March's 64.5 reading amid rising prices for energy and food. Economists' latest estimates ranged from 58 to 65.

In March, the index, which is approaching a five-year low, fell nearly 12 points from the prior month.

Wall Street remains worried that inflation could accelerate and curtail consumer spending, which accounts for more than two-thirds of the U.S. economy. That's also of paramount concern for the Federal Reserve, which begins a two-day policy meeting Tuesday afternoon.

Policymakers are expected to cut interest rates by a quarter point on Wednesday, but then hold firm for the remainder of the year. The Fed is facing a difficult juggling act of trying to shore up the faltering economy while also trying to keep inflation from taking off.

Outside the cubicle, inside the Quonset hut: The structure housing Garden Glass is definitely not your normal in-town work site. Nestled beside the Imperial Mobile Home Park on West Loudon, it maintains a stolid, sturdy presence but doesn't, Hudson says, attract a lot of walk-in traffic.

Quonset to ya? Quonset huts, named for Quonset Point, R.I., where they were first manufactured, were produced by the thousands for the war effort in the 1940s. The humble, sliced tube of a structure is all about hard work, adaptability and can-do spirit.

Hudson shares the 40-foot by 100-foot hut with her husband, Dick Hudson, also known as Mr. Fixit, but much of the space is taken up as a garage and storage. "Once you move in a place like this, you don't move out," says Shirley Hudson, looking around at the old signs, old vehicles, and miscellaneous stuff that is either full of potential or too cool to throw away.

The building used to be part of the mobile home park long ago, when the park was more like a retirement village and it felt like the country out on Loudon. Later, it spent time as a Canada Dry distributor, says Hudson, then was rented out to various tenants before the Hudsons bought it in the 1990s.

Tracinda Corp., Kerkorian's investment company, said it planned to make a $170 million cash offer for up to 20 million additional shares at $8.50 a share, citing evidence that Ford's turnaround plan was working.

Kerkorian's announcement touched off a wave of speculation on how he might try to influence the Dearborn, Mich., automaker in the coming months. The 90-year-old mogul made an unsuccessful bid for Chrysler last year and pushed for General Motors Corp. to form an alliance with Nissan Motor Co. and Renault SA in 2006 after acquiring nearly 10 percent of the company.

The Ford family, while owning 4 percent of the company's shares, has 40 percent voting rights of the company through a special class of stock, making a takeover unlikely, analysts said. Kerkorian could be interested in leaving his imprint on the company's turnaround, putting an ally on Ford's board or advocating for an alliance with another automaker, they said.

"Tracinda is unlikely to be activist in the conventional sense given the voting structure. Instead, we believe it will seek to be a 'constructive agitator,'" said Morgan Stanley & Co. auto analyst Jonathan Steinmetz in a note to investors.

The first direct deposits from the Internal Revenue Service landed in bank accounts Monday, shoppers were already using the cash to play catch-up on the basics, such as milk and other groceries.

Analysts say the rest will probably be used to pay down debt.

Alicia Flaxman, a stay-at-home mother from Seekonk, Mass., was shopping at a Target store Monday and said she would use some of the rebate for food - cheaper items like potatoes, not more expensive meat and fish.

"My bills are double," she said. "I go to the supermarket and I spend $200. I used to spend $120."

Simplistic-sounding, even a little hokey, his "the Consumer is Boss" mantra for P&G employees has worked. Sales, profits and stock price have climbed as the maker of such products as Pampers diapers, Crest toothpaste and Olay skin care has rebounded and grown in the eight years since Lafley was promoted to run a venerable company that was in a skid.

In an Associated Press interview, Lafley discussed the consumer philosophy and strategic changes he's made, while remaining cagey about his future plans.

"The consumer is the key at the end," Lafley said. "If we can get her or him involved at the beginning, we have a much better chance at success."

P&G has long been a leader in consumer research, but under Lafley has expanded consumers' role in product innovation, getting their feedback early in development and learning about their wants and needs by going into their online worlds, their suburban basement laundries and their villages in Mexico and China.

But the market wants to hear this week that the Fed is confident, too.

The central bank's policy makers meet Tuesday and Wednesday to decide whether to lower interest rates again, and to issue an updated assessment of the U.S. economy and financial system. Most investors think the Fed will lower rates by another quarter-point but also will suggest it is gearing up for a pause.

"There's enough mixed signals out there that now's the time to put that forward," said Kurt Karl, chief U.S. economist at Swiss Re, referring to mediocre-but-not-horrific readings on the economy and corporate profits that have helped bring some stability to the stock market.

Already the central bank has incrementally reduced the key rate by 3 percentage points since last summer, to 2.25 percent from 5.25 percent. On top of rate cuts, the Fed has been lending more money to banks, while the government is preparing to mail out tax rebates.

"It's defining you and your unique talents, and establishing you as an expert in what you do best," said Roffer, brand strategy expert and author. Her company, Big Fish Marketing, has worked with television networks including MTV, Fox Cable, ABC and Discovery, plus Web sites to develop brands and promotional campaigns.

Roffer will be a keynote speaker at the Women's Business and Leadership Conference on May 6 at the Radisson Plaza Hotel sponsored by Chase Bank and Women Leading Kentucky, professional women's educational organization.

She will share her eight steps to creating a personal brand.

A pioneer in personal branding, Roffer, who sees her mission to help women lead more directed lives, wrote one of the first books on the concept, Make a Name for Yourself: Eight Steps Every Woman Needs to Create a Personal Brand Strategy for Success.

Bloomberg: www.bloomberg.com/invest//calculators/currency.html

Provides foreign exchange calculations for more than 200 currencies.

CoinMill.com: coinmill.com/exchange_rate_calc.html

Offers four methods of foreign currency conversions, including a multi-currency global conversion tool.

The Central Kentucky Inventors Council will meet at 6:30 p.m. May 6 at the Bluegrass Area Development Center, 699 Perimeter Drive. Topic: Marketing and Commercialization: A Hands-On Guide to Selling Your Product. Free. Information: www.ckic.org or (859) 201-1311.

The next Professional Women's Forum meeting will be 11:30 a.m. to 1 p.m. May 7 at the Red Mile clubhouse. Program: Lexington's Habitat for Humanity Women's Build. Reservations: e-mail Prowomensforum@aol.com.

The Bluegrass Kiwanis Club meets at 11:30 a.m. Thursdays at Ryan's Steak House, 701 Red Mile Road. Information: Paul Bimschleger, (859) 272-1467.

The Lexington Kiwanis Club meets at 11:30 a.m. Tuesdays at Ryan's Steak House, 701 Red Mile Road. Information: Mel Boyd, (859) 277-2058.

• Pioneer Southwest Energy Partners L.P. Ð Irving, Texas, 8.25 million units of limited partnership, priced $19 to $21, managed by Citigroup, Deutsche Bank, and UBS Investment Bank. Proposed NYSE symbol PSE. Business: Limited partnership formed to own and acquire oil and gas properties in Texas and New Mexico.

The Purebred Arabian Horse Trust has begun construction of an 8,000-square-foot addition to the Kentucky Horse Park's International Museum of the Horse. The project, funded by the Trust and the American Arabian horse community, will be the first major addition to the 52,000-square-foot museum since its opening in 1978. With this addition, the museum's permanent exhibition space will expand by almost 30 percent.

A Touch of Paradise Massage Center will celebrate its grand opening from 1-6 p.m. May 3 with an open house featuring an appearance by The Fillies of Horsemen Arena Football, free chair massages and door prizes. A Touch of Paradise is owned and operated by licensed massage therapist Eric Byrd and offers a variety of massage services including relaxation, therapeutic and craniosacral therapy. Address: 366 Waller Avenue, Suites 107 and 109. Phone: (859) 338-4694. Web site: www.atouchofparadiseinc.com.

Mail items about new businesses or changes to existing ones to Business Transitions, Business Monday, Lexington Herald-Leader, 100 Midland Avenue, Lexington, Ky. 40508; fax to (859) 231-3326; or e-mail hlbusiness@herald-leader.com.

One answer is a growing category of funds known as managed income funds or managed payout funds. They're designed to replace paychecks with regular distributions.

But just as retirement can mean golf to one person and parachute jumping to another, there can be broad differences in how these funds operate. Soon-to-retire workers should make time to examine these funds before investing.

Feeling out the differences among such funds is a bigger assignment than it was only a few months ago. Since October, when Fidelity Investments introduced its Income Replacement Funds, other big-name companies have followed. Russell Investments, Charles Schwab, TIAA-CREF, and Vanguard have all set foot in this area.

Some funds, like a product from Fidelity, are designed to gradually draw down a sum of money by a certain date. Others, like a fund from Vanguard, are designed to act more like a personal endowment, making payouts while striving to protect the principal. Among the funds, some aim to keep pace with inflation, while others try to add to capital.

The company announced Monday that it plans to cut one shift each at pickup truck and large sport utility vehicle plants in Flint and Pontiac, Mich.; Janesville, Wis.; and Oshawa, Ontario, resulting in about 3,550 layoffs.

The world's largest automaker by sales said the cuts, to take effect this summer, were brought on by weak demand due to high gasoline prices and an economic downturn.

GM said it will make about 88,000 fewer pickups and 50,000 fewer big SUVs this calendar year because of the cuts. The layoffs represent just over 4 percent of GM's hourly manufacturing work force of about 80,000 in North America.

The announcement came after stock markets closed. GM shares rose 56 cents, or 2.6 percent, to $21.94 Monday, then lost 3 cents in after-hours trading.

About 44 percent of survey participants said paying for gasoline was a "serious problem" for them. Across all income levels, the cost of gas was the most frequently cited economic concern. The price of gas nationally averaged $3.60 a gallon on Monday, according to the Energy Department.

More than a quarter of households earning more than $75,000 a year described paying for gasoline as a serious problem. For those with incomes of less than $30,000, about 63 percent felt that way.

In a distant second and third place among participants' economic concerns were: getting a good-paying job or raise, 29 percent; and paying for health care and health insurance, 28 percent.

Following in fourth place was difficulty paying rent or mortgage, 19 percent.

In an annual report on business conditions, American Chambers of Commerce for China, Shanghai and South China rejected calls by some in the United States for punitive measures over Beijing's trade surplus and currency controls. They also called on Beijing to repeal rules that limit foreign investment and competition.

"Defending and preserving the openness of the trade relationship should be a core commitment of both the U.S. and Chinese governments," James Zimmerman, chairman of the American Chamber of Commerce in China, said at a news conference Monday.

"With slowing economic growth in the U.S., the focus needs to be on enhancing America's overall competitiveness rather than seeking defensive protectionist solutions," Zimmerman said.

The groups said they will send a 40-member delegation to Washington in May to deliver the report to key lawmakers. Zimmerman said they hope to meet with the U.S. presidential candidates or their aides.

Among the hardest hit states were Nevada, Florida and, in particular, California, where Stockton led the nation with a foreclosure rate that was 6.6 times the national average, Irvine, Calif.-based RealtyTrac Inc. said.

Nationwide, 649,917 homes received at least one foreclosure-related filing in the first three months of the year, up 112 percent from 306,722 during the same period last year, RealtyTrac said.

The latest tally also represents an increase of 23 percent from the fourth quarter of last year.

RealtyTrac monitors default notices, auction sale notices and bank repossessions.

But Monday, the Wrigley clan announced it's cashing out after four generations as the iconic confectioner becomes a subsidiary of privately held Mars Inc. in a $23 billion deal.

"I think the legacy of the Wrigley family will survive and endure for some time to come," said Bill Wrigley Jr., the company's executive chairman and the great, great grandson of William Wrigley Jr.

"We must respect the past, but at all times do what's right for the future."

Under the agreement, Wrigley shareholders will receive $80 in cash for each share. Mars of McLean, Va., also will assume a small amount of Wrigley debt.

With 1,582 filings -- 9.34 percent less than a year earlier -- Kentucky was ranked 42nd among the states, with one filing for every 1,194 households.

The six-county Lexington metro area also bucked the national trend by posting a 26.1 percent decline in filings -- down from 207 in the first quarter of 2007 to 153 in the latest period, RealtyTrac said.

Lexington is too small to be ranked among the top 100 metro areas, but it would have placed 97th or 98th if it had made the list, the California foreclosure tracking firm said.

Ninety of the nation's 100 largest metro areas reported more foreclosures in the first quarter of 2008 than in the same period last year, said RealtyTrac CEO James J. Saccacio.

And those are worrying signs for the already deteriorating economy, since eroding consumer confidence foreshadows weaker spending.

A widely watched measure of sentiment dropped to a five-year low in April, the fourth straight month of declines. The Conference Board said Tuesday that its Consumer Confidence Index fell to 62.3 in April, down from a revised 65.9 last month and 76.4 in February.

That was in line with the expectations of Wall Street economists, but leaves the index at its weakest point since it registered 61.4 in March 2003, ahead of the Iraq invasion.

"There isn't a lot for the consumers to be optimistic about," said Gary Thayer, senior economist at Wachovia Securities.

Fayette, which includes Lexington, saw permits plummet from 378 in the first quarter of 2007 to 138 in the latest quarter, the Knoxville firm said.

The Fayette decline was the largest factor in a 45.1 percent drop in permits for the eight-county area around Lexington.

The eight counties surrounding Louisville suffered a similar 46.6 percent decline, The Market Edge said.

Building permits are considered an indicator of future construction and housing demand.

The Fed action, announced Wednesday after a two-day regular meeting, pushed the federal funds rate down to 2 percent, its lowest level since late 2004. It marked the seventh consecutive rate cut by the central bank since it began easing credit conditions last September to combat the growing threat of a recession brought on by a deep housing slump and credit crisis.

The rate cut will mean lower borrowing costs throughout the economy as banks reduce their prime lending rate, the benchmark for millions of consumer and business loans.

The Fed move was in line with expectations. Wall Street believes this could well wrap up the Fed's rate cuts unless the economy threatens to fall into a worse slump than currently expected.

The Fed said it stood ready to "act as needed to promote sustainable economic growth and stability." That phrase was seen as a signal that the Fed is as worried about weak growth as it is about the risk of higher inflation.

The country's economic growth during January through March was the same as in the final three months of last year, the Commerce Department reported Wednesday. The statistic did not meet what economists consider the classic definition of a recession, which is a retraction of the economy. This means that although the economy is stuck in a rut, it is still managing to grow, even if modestly.

Many analysts were predicting that the gross domestic product (GDP) would weaken a bit more - to a pace of just 0.5 percent - in the first quarter. Earlier this year, some economists thought the economy would actually lurch into reverse during the opening quarter. Now, they say they believe that will likely happen during the current April-to-June period.

"The economy is weak but not collapsing," said Lynn Reaser, chief economist at Bank of America's Investment Strategies Group. "A recession can't be ruled out, although the stars are not lined up at this point to definitively say one way or the other."

Gross domestic product measures the value of all goods and services produced within the United States and is the best measure of the country's economic health. Voters are keenly worried about the country's economic problems and so are politicians - in Congress, in the White House and on the campaign trail.

The Fed said in a statement the economy "remains weak" and that "uncertainty about the inflation outlook remains high." Policy makers added, however, that "substantial easing of monetary policy to date, combined with ongoing measures to foster market liquidity, should help promote moderate growth over time and to mitigate risks to economic activity."

Most investors had expected the central bank to again lower its benchmark fed funds rate by a quarter point after lowering it seven times since last summer by a total of 3 percentage points. Still, many investors had also anticipated a strong clue that the Fed was nearing the end of its rate-cutting campaign - and Wednesday's statement did not indicate that clearly.

"The market had wanted to hear tougher talk on inflation, and some sort of talk that the easing has been adequate for a while, for the foreseeable future," said Scott Wren, equity strategist for A.G. Edwards & Sons.

With economic data coming in weak but better than expected in recent weeks, inflation has appeared to be the bigger threat due to news of rice rationing, crude oil hitting $120 and gasoline surging to new highs.

The country's economic growth during January through March was the same as in the final three months of last year, the Commerce Department reported Wednesday. The statistic did not meet what economists consider the classic definition of a recession, which is a retraction of the economy. This means that although the economy is stuck in a rut, it is still managing to grow, even if modestly.

Many analysts were predicting that the gross domestic product (GDP) would weaken a bit more - to a pace of just 0.5 percent - in the first quarter. Earlier this year, some economists thought the economy would actually lurch into reverse during the opening quarter. Now, they say they believe that will likely happen during the current April-to-June period.

"The economy is weak but not collapsing," said Lynn Reaser, chief economist at Bank of America's Investment Strategies Group. "A recession can't be ruled out, although the stars are not lined up at this point to definitively say one way or the other."

Gross domestic product measures the value of all goods and services produced within the United States and is the best measure of the country's economic health. Voters are keenly worried about the country's economic problems and so are politicians - in Congress, in the White House and on the campaign trail.

With 1,582 filings -- 9.34 percent less than a year earlier -- Kentucky was ranked 42nd among the states, with one filing for every 1,194 households.

The six-county Lexington metro area also bucked the national trend by posting a 26.1 percent decline in filings -- down from 207 in the first quarter of 2007 to 153 in the latest period, RealtyTrac said.

Lexington is too small to be ranked among the top 100 metro areas, but it would have placed 97th or 98th if it had made the list, the California foreclosure tracking firm said.

Ninety of the nation's 100 largest metro areas reported more foreclosures in the first quarter of 2008 than in the same period last year, said RealtyTrac CEO James J. Saccacio.

Merideth, who lives in Winchester, earned an undergraduate degree in psychology from Western Kentucky University and a graduate degree in social work from the University of Kentucky.

In this position, Merideth will devote her time to expanding the Red Cross mission through the promotion of volunteerism.

She is an active member of the Central Kentucky Association for Volunteer Administrators.

The agency on Wednesday released a warning letter sent to Merck's chief executive, Richard T. Clark, that states FDA inspectors determined manufacturing rules are not being followed at the plant in West Point, Pa., just outside Philadelphia, which makes a number of children's vaccines.

The nine-page letter refers to what the FDA calls "significant objectionable conditions" found during repeated inspections at the plant between November and January.

Merck officials didn't thoroughly investigate when vaccine batches inexplicably failed to meet specifications, even if batches had been distributed, according to the heavily redacted letter.

The FDA also said that some drug components were tainted, and that the plant didn't have written procedures, tests or other laboratory controls to ensure "strength, quality, and purity" of products.

The Federal Open Market Committee decided today to lower its target for the federal funds rate 25 basis points to 2 percent.

Recent information indicates that economic activity remains weak. Household and business spending has been subdued and labor markets have softened further. Financial markets remain under considerable stress, and tight credit conditions and the deepening housing contraction are likely to weigh on economic growth over the next few quarters.

Although readings on core inflation have improved somewhat, energy and other commodity prices have increased, and some indicators of inflation expectations have risen in recent months. The Committee expects inflation to moderate in coming quarters, reflecting a projected leveling-out of energy and other commodity prices and an easing of pressures on resource utilization. Still, uncertainty about the inflation outlook remains high. It will be necessary to continue to monitor inflation developments carefully.

The substantial easing of monetary policy to date, combined with ongoing measures to foster market liquidity, should help to promote moderate growth over time and to mitigate risks to economic activity. The Committee will continue to monitor economic and financial developments and will act as needed to promote sustainable economic growth and price stability.