For decades, when you slid into a booth at a diner or a local coffee shop, the waitress probably arrived with a standard-issue, off-white mug. More than likely that mug came from the Ohio River town of East Liverpool, which calls itself "The Pottery Capital of the Nation."
A lot of that city's pottery business is long gone. Now, one of the few remaining pottery factories in the battered town is pinning its survival on a major corporation.
To step inside American Mug and Stein in East Liverpool is to step into another era.
In a study (pdf) released today, the Federal Reserve reports that Americans saw a record drop in their wealth between the years 2007 to 2010. Driven primarily by plummeting home values, families' median net worth dropped 38.8 percent, to levels last seen 18 years ago.
NPR's Philip Reeves, reporting on 'Morning Edition'
After rising sharply earlier today, European financial markets have come off their highs as investors "question the logistics of the $125 billion bailout of Spanish banks and wonder ... whether Monday's gains in financial markets were nothing but a relief rally," Dow Jones Newswires reports.