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Next High Holidays
Hanukkah - Festival of Lights
Hanukkah 2008 starts at sundown Monday December 22 and last 8
days of celebrating the miracle of a little oil that lasted eight days,
and continues to illuminate our lives to this day. The Jewish Search Team would
like to wish to all our readers and supporters a happy Festival of Lights.
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Financial industry lobbyists are urging the Treasury Department to take steps to lower mortgage rates in an effort to stabilize the housing market.
- Stocks finish higher despite dismal data
Wall Street absorbed more bad economic news, closing higher as investors shuttled between pessimism about the recession and hopes that the nation might start to see some relief soon.
- Automaker aid bill doesn’t have needed votes
Senate Majority Leader Harry Reid says the Democrats’ plan to tap the Wall Street rescue fund to save U.S. automakers doesn’t have the votes to pass.
- Experts offer range of ideas for Big Three
Auto industry experts have a wide range of ideas on how to fix the problems facing the Big Three, ranging from higher gas taxes to bankruptcy. Here is a sampling of their views.
- Fed: Economy darkens before holidays
The economic picture has darkened further as Americans hunkered down heading into the holidays, forcing retailers to ring up fewer sales and factories to cut back on production.
- Newsweek: Do the Big Three deserve $34 billion?
Newsweek: Do the Big Three deserve $34 billion?
- Obama: Gov't must help homeowners, too
President-elect Barack Obama signaled a clear desire Wednesday to use a significant portion of $700 billion in financial bailout funds to stanch foreclosures.
- Productivity growth higher than expected
Worker productivity slowed in the summer to the smallest advance since late last year while wage pressures increased.
- Mortgage applications surge by record
Mortgage applications surged by the largest amount on record last week as a new Federal Reserve program pushed interest rates down to their lowest level in more than 3 years.
- SEC adopts new rules for rating agencies
Federal regulators on Wednesday adopted new rules designed to stem conflicts of interest and provide more transparency for Wall Street’s credit-rating industry.
- SportsBiz: Golf industry gets hit hard
The economic meltdown is hitting the golf industry hard. More courses are scheduled to close in the U.S. this year (nearly 100) than the 80 expected to open.
- Service sector shrinks in November
The U.S. service sector contracted dramatically in November as slower spending hurt insurers, retailers and hotels.
- Buffett's Constellation bid challenged again
France's state-controlled power company challenged a proposed takeover by Warren Buffett of Constellation Energy Wednesday.
- Pope: Banks should help society's weakest
Pope Benedict XVI says one of the primary objectives of banks is to support the weakest in society while also spurring productivity.
- Online retailers see 'Cyber Monday' surge
Online merchants finally got some relief with the unofficial start of the holiday shopping season, spurred by a bevy of deals and free shipping offers.
- Fewer toys with high lead levels, group finds
After the high-profile recalls of millions of lead-contaminated toys last year, a watchdog group said that its tests found fewer toys with high levels of chemicals in them this year.
- Oil prices waver on skimpy inventory report
Oil prices wavered near three-year lows as investors weighed falling global demand and a government report showing an unexpected decline in U.S. crude inventories.
- Report: Ex-AOL boss may bid to buy Yahoo
Yahoo’s stock rallied on a report that AOL’s former CEO believes he can raise enough money in a worsening recession to buy the struggling Internet company for as much as $30 billion.
- Hawaii to be first with electric car stations
Hawaii has unveiled plans to be first in the nation to roll out electric car stations statewide — a move the governor hailed as a major step toward weaning the islands off oil.
- Goldman mulling Web banking operation
Goldman Sachs Group Inc is considering launching an Internet banking operation, The Wall Street Journal reported, citing people familiar with the situation.
- GM: We need $12 billion to survive
General Motors said Tuesday it needs $4 billion in government loans this month and a total of $12 billion by late March to keep operating.
- Auditors: Not enough oversight for bailout
The government must toughen its monitoring of the bailout to ensure that banks limit executives’ pay and comply with other restrictions, federal auditors said Tuesday.
- GM CEO heading to Capitol by way of Malibu
Eager to avoid another scathing lecture about corporate excess from members of Congress, top U.S. auto CEOs will travel to Washington this week in hybrid vehicles.