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...
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...