Frontier Airlines Files Bankruptcy
April 11, 2008
Dallas News Reported – Denver-based Frontier Airlines Inc. became the fourth U.S. airline in less than a month to file Chapter 11 bankruptcy papers Friday, joining Aloha Airlines Inc., ATA Airlines Inc. and Skybus Airlines Inc. However, Frontier will continue flying its airplanes, the carrier said, unlike the other three which have grounded their aircraft and ceased operations. Frontier blamed an unnamed credit card company...
WaMu Cuts Jobs
April 8, 2008
Washington Mutual Inc, the largest U.S. savings and loan, said on Tuesday it obtained a $7 billion capital injection from private equity firm TPG Inc and other investors, but that mortgage problems will lead to a $1.1 billion quarterly loss and the elimination of 3,000 jobs. The thrift also plans to close its 186 stand-alone home loan offices and stop offering home loans through brokers....
Senate Agrees on Bill to Ease Foreclosures
April 7, 2008
Senate leaders announced an agreement Wednesday on legislation to ease the slumping housing market and help millions of families threatened by foreclosure. The scaled-back proposal released by Majority Leader Harry Reid, D-Nev., and GOP Leader Mitch McConnell of Kentucky contains an amalgam of ideas aimed at boosting demand for housing and helping homeowners saddled with subprime mortgages avoid foreclosure. For instance, the plan contains $4...
Telemarketers Loosing Access
April 4, 2008
The Dallas Morning News reports that Texas drivers involved in accidents will no longer be required to furnish telephone numbers for crash reports under an agreement between two state agencies trying to pull the plug on phone solicitations by telemarketers. The telemarketers generally try to drum up business for chiropractors, lawyers and body shops, according to officials, who unveiled the change Thursday. The agreement between...
Jobless Rates Hit 5.1%
April 4, 2008
According to The Houston Chronicle, employers slashed 80,000 jobs in March, the most in five years and the third straight month of losses. At the same time, the national unemployment rate rose from 4.8 percent to 5.1 percent, the clearest signal yet that the economy might already be shrinking. The new snapshot of the job market, released by the Labor Department today, underscored the damage...
Bankruptcy More Common with the Economic Decline
March 27, 2008
When she was laid off in February, Patricia Guerrero was making $70,000 a year. Weeks later, with bills piling up and in need of food for her family, this middle-class mother did something she never thought she would do: She went to a food bank. It was Good Friday, and a woman helping her offered to pay her utility bill. “It brought tears to my...