Housing Slump May Exceed Depression
April 25, 2008
Dallas Morning News Reports, An influential economist who long predicted the housing market bubble cautioned Tuesday that the slump in the U.S. housing market could cause prices to fall more than they did in the Great Depression and bailouts will be needed so millions don’t lose their homes. Yale University economist Robert Shiller, pioneer of the widely watched Standard & Poor’s/Case-Shiller home price index, said...
Home Sales Fall
April 24, 2008
The Dallas Morning News, Sales of existing homes fell in March while the median home price declined, compared with the price a year ago, as a severe slump in housing showed no signs of abating. The National Association of Realtors said that sales of existing single-family homes and condominiums dropped by 2 percent in March to a seasonally adjusted annual rate of 4.93 million units....
Dallas – Fort Worth Foreclosures on the Rise
April 21, 2008
Dallas Morning News Reported Today, All the publicity about so-called rescue plans to help troubled homeowners isn’t having an impact so far on Dallas-Fort Worth foreclosures. The number of homes facing foreclosure in the area next month is up almost 40 percent from a year ago. More than 4,400 homes are scheduled to be sold at foreclosure auction in the four-county area on the first...
Tarrant Foreclosures Up
April 18, 2008
Fort Worth News stated , Home foreclosures in Tarrant County are up 39 percent for May, with 1,380 homes posted for foreclosure at the May 6 auction, according to figures released Thursday by Foreclosure Listing Service. For the year, there have been 6,971 postings in Tarrant County, 29 percent more than a year earlier. Tarrant, Dallas, Denton and Collin counties combined had 4,426 postings for...
Merrill Lynch to Cut Jobs
April 17, 2008
Merrill Lynch & Co (MER.N: Quote, Profile, Research) on Thursday posted a quarterly loss of $2 billion and said it planned to cut 2,900 jobs after recording more than $9.5 billion in write-downs and losses on subprime mortgages and other risky assets. The results were worse than analysts’ gloomy expectations, and shares of the world’s largest brokerage fell more than 2 percent in premarket trading....
Drugmaker Merck Misrepresented Vioxx
April 16, 2008
From CNBC News, A new report in the Journal of the American Medical Association is highly critical of drugmaker Merck and its handling of the painkiller Vioxx. The JAMA article says Merck Merck & Co IncMRK 40.34 -0.88 -2.13% NYSE Quote | Chart | News | Profile [MRK 40.34 -0.88 (-2.13%) ] misrepresented apparent Vioxx-related deaths in studies to see if the drug worked on...