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Retailing Chains Caught in a Wave of Bankruptcies

a shared story    359 weeks 1 day 10 hours 34 minutes ago
The consumer spending slump and tightening credit markets are unleashing a widening wave of bankruptcies in American retailing, prompting thousands of store closings that are expected to remake suburban malls and downtown shopping districts across the country. Since last fall, eight mostly midsize chains — as diverse...(more) 




Food Costs Rising Fastest in 17 Years

a shared story    359 weeks 1 day 10 hours 38 minutes ago
Maybe the candidates should consider talking about an issue for a change instead of dragging everyone down. Here's a suggestion, from the story: "Steve Tarpin can bake a graham cracker crust in his sleep, but explaining why the price for his Key lime pies went from $20...(more) 




AIG crisis could be tip of an insurance iceberg

a shared story    309 weeks 2 days 14 hours 46 minutes ago
When insurance giant American International Group Inc. imploded last fall, the firm's problems were quickly blamed not on its core insurance business, but on an obscure operation that traded exotic mortgage securities. But as the economic crisis has deepened, it has become clear that AIG's problems extend...(more) 




US Foreclosure Filings Nearly Double in September

a shared story    385 weeks 6 days 2 hours 17 minutes ago
Foreclosure filings across the U.S. nearly doubled last month compared with September 2006, as financially strapped homeowners already behind on mortgage payments defaulted on their loans or came closer to losing their homes to foreclosure, a real estate information company said Thursday. 




AP study finds $1.6B went to bailed-out bank execs

a shared story    323 weeks 3 days 14 minutes ago
Banks that are getting taxpayer bailouts awarded their top executives nearly $1.6 billion in salaries, bonuses, and other benefits last year, an Associated Press analysis reveals. 



buzz  17  + buzz


Citigroup Buys Banking Operations of Wachovia

a shared story    335 weeks 2 days 5 hours 19 minutes ago
Citigroup has agreed to buy Wachovia’s banking operations for $1 a share, a move that that would concentrate power within the nation’s banking industry in the hands of a few giant lenders.  




The American mood: Is the angst bottoming out?

a shared story    307 weeks 4 days 1 hour 18 minutes ago
Friday night in northern New Jersey, circa April 2009, offers clues to prove any theory about the American economic meltdown, depending on what you want to believe. Just like so many places these days. 




FHA's dilemma - back loans, stay solvent

a shared story    268 weeks 3 days 22 hours 12 minutes ago
Keally McBride and her husband both have good jobs and credit scores, but they would not have been able to buy their three-bedroom home in Oakland's Grand Lake area if not for Federal Housing Administration insurance that allowed them to put down just 3.5 percent. 



buzz  13  + buzz


On brink of financial collapse, state lawmakers struggle with budget passage

a shared story    315 weeks 2 days 16 hours 7 minutes ago
Lawmakers continued struggling to pass a budget this afternoon after working nearly around the clock to end a three-month impasse that has brought California to the brink of fiscal collapse. An all-night legislative session failed to yield enough Republican votes for the spending plan, as GOP legislators...(more) 




Justices pepper health care law opponents with questions

a shared story    2 hours 1 minute ago
WASHINGTON (AP) -- Supreme Court justices peppered opponents of President Barack Obama's health care law with skeptical questions during oral arguments Wednesday on the latest challenge to the sweeping legislation.... 



buzz  1  + buzz


Europe will fight for own standards in U.S. trade talks: Merkel

a shared story    3 hours 1 minute ago
BRUSSELS (Reuters) - Europe will insist on upholding its own standards in free trade talks with the United States, German Chancellor Angela Merkel said on Wednesday, adding she supported the European Commission's efforts to get a deal this year.  



buzz  1  + buzz


U.S. private sector adds jobs in February, but growth slows: ADP

a shared story    3 hours 1 minute ago
NEW YORK (Reuters) - U.S. private employers added fewer jobs than expected last month, declining as well from January's revised figure as employment growth slowed in some sectors, a payrolls processor report showed on Wednesday.  



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