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Big Three Automakers Make New Plea for Government LoansAs new reports showed that misery in auto dealers' showrooms worsened in November, Detroit automakers on Tuesday submitted detailed plans to Congress reinforcing their pleas for government loans totaling $34 billion. |
Home Loan Fraud Still Rising; Florida Leads NationDespite more stringent underwriting of mortgages in the wake of record foreclosures, lenders continued to battle home loan fraud during the second quarter of the year, with Florida borrowers again submitting more questionable loan applications than borrowers in any state in the nation, according to an industry report released Tuesday. |
The Gloal Economy in a Post-bubble WorldThe global economy was currently "a post-bubble world" with the burst of the property bubble, the credit bubble and the consumption bubble, with the last being the biggest bubble of all, Stephen Roach, chairman of Morgan Stanley Asia Limited, said Wednesday. |
Pimco's Gross sees lower U.S. 30-Year Mortgage RateU.S. 30-year fixed mortgage rates, which are pivotal to the fortunes of the battered housing market, will fall steeply in reaction to government steps to buy mortgage-related securities, the manager of the world's biggest bond fund said on Wednesday |
GM May Sell Saab to Ease WoesThe Swedish government has no immediate plans to take control of troubled Swedish carmakers Volvo and Saab, Deputy Prime Minister Maud Olofsson said Wednesday. Olofsson, minister for enterprise and energy, said the government was in close contact with the managements of US car giants Ford that owns Volvo and General Motors that owns Saab. |
U.S. Newspapers See Record Drop in Ad SalesU.S. newspapers experienced a record 18 percent drop in advertising revenue in the third quarter, according to a figures released by the Newspaper Association of America. |
Ford's November U.S. Dip 30.6%Ford Motor Co today announced that its market share increased for the second straight month, but November sales in the U.S. were down 30.6 percent. |
Danny Vargas' Success More Compelling than FictionHe grew up poor in Brooklyn and, at times, lived on the streets. Today, he's an emerging political player who also leads a marketing, public relations and consulting firm. Raul "Danny" Vargas' story may resemble a Hollywood script. For Vargas, however, he's simply living his American Dream. |
Engineers, Tech Workers Ratify Boeing Labor ContractsNearly 21,000 engineers and technical workers for The Boeing Co., most of them in the Puget Sound area, have approved new labor contracts that will give them more say in the company's controversial outsourcing decisions and the use of contract workers. |
Microsoft's Hiring Pace Slows DownAlthough Microsoft Corp. has slowed the pace of its hiring, the company still added about 500 employees to its work force in November, according to a spokesman. To put the statistic in perspective, Microsoft's work force grew in August by 1,200. In September, ranks increased by 700. And in October, the company's work force jumped by roughly 1,000. |
Finding Work is Hard WorkJob losses are hitting young and old, those with college degrees and experience and those just starting out . . . and they show no sign of abating as the economy lingers in a recession. Typical of economic downturns, it is getting harder for many to even get their foot in the door. The length of the average job search is stretching by months. |