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Retailing Chains Caught in a Wave of Bankruptcies

a shared story    462 weeks 3 days 22 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    462 weeks 3 days 25 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    412 weeks 4 days 4 hours 34 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    489 weeks 16 hours 5 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    426 weeks 4 days 14 hours 2 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    438 weeks 3 days 19 hours 7 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    410 weeks 5 days 15 hours 6 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    371 weeks 5 days 12 hours 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. 




Midnight Shopping Gains Popularity

a shared story    49 minutes ago
SAN FRANCISCO (AP) -- While many Americans sleep off the effects of oversize turkey dinners, Glenn Murphy will mingle with holiday hordes at an outlet mall. Murphy, chairman and CEO of The Gap Inc., said he and other executives are assessing whether the retail industry's "doorbuster"...(more) 



buzz  1  + buzz


Exclusive: China considers faster IPO approval to lure large tech deals - sources

a shared story    49 minutes ago
HONG KONG (Reuters) - China's securities regulator is considering offering a shortcut for some of the country's largest technology companies to list their shares, allowing them to jump a long line of applicants and boost domestic bourses, according to six people with knowledge of the proposals....(more) 



buzz  13  + buzz


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

a shared story    418 weeks 4 days 5 hours 54 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) 



buzz  1  + buzz


Traders drain pricey U.S. oil storage as OPEC deal bites

a shared story    1 hour 49 minutes ago
NEW YORK/HOUSTON (Reuters) - Traders are turning the spigots to drain the priciest storage tanks holding U.S. crude stockpiles as strengthening markets make it unprofitable to store for future sale and cuts in global production open export opportunities.  



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