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Retailing Chains Caught in a Wave of Bankruptcies

a shared story    331 weeks 2 days 5 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    331 weeks 2 days 8 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    281 weeks 3 days 4 hours 17 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    357 weeks 6 days 15 hours 48 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    295 weeks 3 days 13 hours 45 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    307 weeks 2 days 18 hours 50 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    279 weeks 4 days 14 hours 49 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    240 weeks 4 days 11 hours 43 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  1  + buzz


UK car production rises in July

a shared story    32 minutes ago
More than 130,000 cars were made in the UK last month, a rise of 2.8%, according to the Society of Motor Manufacturers and Traders. 



buzz  1  + buzz


Business Briefing: U.S. Government Sells 400,000 Acres in Gulf

a shared story    32 minutes ago
The federal government has sold more than 400,000 acres in the Gulf of Mexico off the Texas coast for oil and gas exploration and development. 



buzz  13  + buzz


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

a shared story    287 weeks 3 days 5 hours 37 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) 




Bikes help commuters get around gas prices

a shared story    319 weeks 1 day 16 hours 49 minutes ago
High gasoline prices are fueling bicycle sales, and on some days Michael Hall's blood pressure. At least three times a week, Hall pedals to his job in Hollywood from his home in northern Glendale, a 25-mile round-trip commute that is faster on two wheels than four. "It's definitely...(more) 



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