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Bank Of America Settles Major Mortgage Securities Case

Posted On August 21, 2014

(Washington, DC) -- Bank of America is agreeing to pay more than 16-billion dollars in a settlement over mortgage-backed securities. Attorney General Eric Holder this morning called it a major case of financial fraud. In a Justice Department news conference, Holder said B-of-A and partners marketed and sold toxic loans that helped prompt the 2008…

Weekly Jobless Claims Down Sharply

Posted On August 21, 2014

(Undated) -- First-time claims for unemployment benefits are down sharply. The Labor Department reports this morning that 298-thousand Americans filed initial claims for benefits last week. That's a drop of 14-thousand from the previous week's revised figures. The biggest increases in claims were in California, New York, Massachusetts, Michigan and Florida. The sharpest declines were…

Dollar General Questions Family Dollar CEO’s Motives

Posted On August 21, 2014

(Undated) -- Dollar General is questioning the motives of Family Dollar's CEO in selling the discount retail chain. Dollar General says its nine-billion dollar cash offer is better for Family Dollar's shareholders, but that Family Dollar's Howard Levine might benefit more from the Dollar Tree deal. Levine would stay on as CEO of Family Dollar…

35-Million Traveling For Labor Day, Most Since 2008

Posted On August 21, 2014

(Undated) -- Nearly 35-million Americans will be traveling over the Labor Day holiday weekend. That's the most since 2008, before the recession set in. Triple-A Travel says nearly 30-million of those holiday travelers will drive 50 miles or more for the long weekend. The Labor Day holiday travel period runs Thursday, August 28th through Monday,…

Detroit Bankruptcy Trial Delayed Until September 2

Posted On August 21, 2014

(Detroit, MI) -- The start of the city of Detroit's bankruptcy trial is being delayed by four days and will now begin September 2nd. U.S. Bankruptcy Judge Steen Rhodes pushed the start of the trial back yesterday. The city is working on its sixth version of a debt-cutting plan to emerge from bankruptcy and slash…