According to an article in the Dallas Morning News, home sales fell 3 percent in March despite aggressive efforts to encourage Americans to buy. The article said: The results were "a little disappointing" given that homes are more affordable than they've been in years and mortgage rates are near record lows, said Lawrence Yun, the [...]
According to an article in the Star-Telegram, two unidentified sources said that General Motors is planning to temporarily close most of its U.S. factories for up to nine weeks this summer because of slumping sales and growing inventories of unsold vehicles. The article said: Neither person wanted to be identified because workers have not been told [...]
According to an article in the Associated Press, the rise in job loss and foreclosures may be causing an increase in domestic violence nationwide. The article said: "Our children and families are suffering," said Alane Fagin, who runs a nonprofit group called Child Abuse Prevention Services. "With more layoffs expected, the threat of foreclosure looming [...]
According to an article in the Dallas Morning News, Southwest Airlines Co. has reported a $91 million loss in the first quarter of 2009. This is one day after AMR, the parent company of American Airlines reported a $375 million loss for the first quarter of 2009. Southwest Airlines has taken swift action, stopping all [...]
Businesses are getting pretty creative with their efforts to pump up the sales numbers. Many companies are offering guarantees for consumers who fear they may soon face a job loss. Let's to a look at some of the job loss guarantee offers: Ford and GM are offering to make car payments for consumers who experience [...]
According to an article in the Dallas Morning News, Ford Motor Co.'s U.S. auto sales fell by nearly 41 percent in March. Ford sold 131,102 cars and light trucks last month, compared with 221,642 in March 2008. The automaker who is fighting bankruptcy reported that sales of its Focus compact car fell 42 percent, and [...]
According to an article in the Star-Telegram, Chase Bank has caved in to pressure from their customers and consumer advocacy groups and has agreed to refund $4.4 million of what some called illegal fees to 184,000 customers. In January, Chase imposed a $10 monthly fee on 184,000 customers who were holding balances on their low-interest [...]
According to an article in Bloomberg, billionaire investor George Soros is predicting that U.S. commercial real estate will drop at least 30 percent in value in 2009. The article said: "Commercial real estate has not yet fallen in value," Soros, speaking at a forum in Washington, said. "It is inevitable, it is written, everybody knows [...]
According to an article in the Dallas Morning News, Texas will receive $546 million from the American Recovery and Reinvestment Act stimulus package to make homes and buildings more energy-efficient. Of that amount, $327 million will go to help low-income Texans weatherize their homes. Anyone who does not make more than 200% of the federal [...]
According to an article in the Dallas Morning News, the Obama administration has unveiled a new program to purchase banks' "bad assets" which will include toxic mortgages. The "bad assets" shopping spree will require $75 billion - $100 billion which will be taken from the existing $700 billion bailout program as well as private investors [...]