Aug. 16--Before you send out the E-vites for your "Recession Is Finally Over" party, you should know that retail sales fell unexpectedly in July, "chilling hopes that consumers are ready to lead the American economy out of a recession," The New York Times reported last week.

Spending was off by a lot. Economists had been expecting a retail sales increase of 0.7 percent over June, but instead sales dropped 0.1 percent month-to-month and are down 8.3 percent since July 2008.

As always, these numbers have been seasonally adjusted for your mathematical convenience. No need to thank us.

END OF THE LINE: Just days after the former CEO of the Hill District's Dwelling House Savings & Loan and several bank board members were fined $10,000 by federal regulators for "failing to take steps to protect the institution from potential fraud," the minority-owned thrift was forced to close by the Office of Thrift Supervision.

The news came over the transom late Friday. PNC Financial Services will assume all Dwelling House deposits, about $13.8 million, plus $3 million in bad assets, the FDIC said.

Customers with questions can call 1-900-760-3639.

QUOTE OF THE WEEK: "The agency plans no additional action." -- U.S. Food and Drug Administration spokeswoman Judy Leon, regarding the FDA's investigation into quality-control breaches at Mylan Inc., a Morgantown, W.Va., drug maker.

CHEVY VOLT IS A GAS, GAS, GAS: A big announcement from General Motors Corp. last week -- the Chevrolet Volt rechargeable electric car could get about 230 mpg in city driving.

But all that gas savings will cost you. The expected price tag for a 2011 model is $40,000.

THE HOUSE ALWAYS WINS, PART I: With fireworks and confetti and Vegas showgirls, Rivers Casino opened last week and took in $14 million in wagers in 18 hours, from noon Sunday to 6 a.m. Monday, generating $1.29 million in gross terminal revenue (the amount gamblers lost). Of that amount, 55 percent is collected by the tax man, and the casino kept $578,280.

Not bad for a day's work.

THE HOUSE ALWAYS WINS, PART II: House Democratic Whip Bill DeWeese, of Waynesburg, says the odds of table games being legalized at Pennsylvania's casinos is 70-30 "because of the urgent need for state revenue." Pennsylvania now offers slot machines only, as well as some "electronic" table games such as video blackjack.

THE GLASS IS HALF EMPTY: For the first time in at least five years, if not longer, sales of bottled water are dropping. Sales are down, total gallonage is down and per-capita bottled water consumption is down, too, says The Washington Post.

That's bad news for Dasani and Aquafina and Deer Park, good news for environmentalists and common sense.

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