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Retailing Chains Caught in a Wave of Bankruptcies

a shared story    362 weeks 4 days 15 hours 37 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    362 weeks 4 days 15 hours 41 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    312 weeks 5 days 19 hours 49 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    389 weeks 2 days 7 hours 21 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    326 weeks 6 days 5 hours 18 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    338 weeks 5 days 10 hours 22 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    311 weeks 6 hours 22 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    272 weeks 3 hours 16 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. 



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Australia signs up to negotiations on Chinese-led bank

a shared story    4 minutes ago
CANBERRA, Australia (AP) -- Australia has announced that it will join negotiations to establish a new a Chinese-led Asian regional bank.... 



buzz  13  + buzz


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

a shared story    318 weeks 5 days 21 hours 10 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) 




Best Buy warns of profit hit as it consolidates Canadian stores

a shared story    2 hours 4 minutes ago
CHICAGO (Reuters) - Best Buy Co Inc plans to close some stores and consolidate its operations in Canada, the U.S. electronics retailer's second-largest market, in a move that will hurt earnings this year, the company said on Saturday.  



buzz  1  + buzz


Duke Energy CEO loses $600K in pay over coal ash pollution

a shared story    3 hours 4 minutes ago
RALEIGH, N.C. (AP) -- Duke Energy's CEO is paying a price for a massive spill of collected coal ash that coated 70 miles of a North Carolina river in sludge containing toxic heavy metals.... 



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