Debt Consolidation News Oct 2008
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Hungary Pays With Growth Prospects for IMF-Led Bailout Package
The government, which secured $25.5 billion in loans from the International Monetary Fund, the European Union and the World Bank, expects a 1 percent contraction next year, the first since 1993, as spending cuts and an emergency rate increase will stifle domestic demand and export markets falter. (Wed, 29 Oct 2008 14:52:47 GMT)
Why Banks Should Lend Out Treasury's Funds
Paul Kedrosky has a peculiar argument today, saying that banks shouldn't lend the money they're getting from Treasury: Banks are looking at a changed world, one with deleveraging everything, consolidation happening apace, and defaults almost certain to rise rapidly over the next 24 months. (Wed, 29 Oct 2008 17:30:00 GMT)
A Detroit Bankruptcy Beats a Bailout
Not content with $25 billion in government loans to retool factories for fuel-efficient cars, the auto industry is already back at the trough, this time angling for a taxpayer investment in the firm that would result from a merger of General Motors and Chrysler. (Wed, 29 Oct 2008 21:06:00 GMT)
CENTRAL NY BUSINESS NEWS
• $48M available for green power State officials this week allocated another $47 million to subsidize individuals or businesses who install their own systems to make power from sunlight or cow manure. (Thu, 30 Oct 2008 09:20:41 GMT)
LNB Bancorp, Inc. Reports Improved Third Quarter Results
LORAIN, Ohio----LNB Bancorp, Inc. today reported net income of $1,823,000 or $.25 per diluted share for the three months ended September 30, 2008, compared with net income of $1,673,000 or $.23 per diluted share reported for the same period a year ago. (Thu, 30 Oct 2008 11:30:00 GMT)
LIN TV Corp. Announces Third Quarter 2008 Results
LIN TV Corp. (NYSE: TVL) today reported results for the third quarter ended September 30, 2008. (Thu, 30 Oct 2008 11:53:45 GMT)
Modine Reports Second Quarter Fiscal 2009 Results; Lowers Guidance and Comments on Outlook
RACINE, Wis.----Modine Manufacturing Company , a diversified global leader in thermal management technology and solutions, today reported its financial results for the second quarter of fiscal 2009 as compared to the second quarter of fiscal 2008, as follows: 2009 2008 Change Net Sales $ 433.3 $ 428.7 $ 4.6 Gross Profit $ 54.9 $ 61.9 $ % of Sales 12.7 % 14.4 % Pre-Tax Earnings from Continuing ... (Thu, 30 Oct 2008 12:30:00 GMT)
Auto industry seeking U.S. help
Henry Paulson and Ben Bernanke receive a letter from 6 governors requesting help for troubled automakers while GMAC says it wants to become a bank holding company. (Thu, 30 Oct 2008 18:09:56 GMT)
Deutsche Bank reports 3Q 2008 net income of EUR 414 million
Deutsche Bank reported net income of EUR 414 million, versus EUR 1.6 billion in the third quarter 2007. Earnings per share on a diluted basis were EUR 0.83 for the third quarter 2008, versus EUR 3.31 (Fri, 31 Oct 2008 03:22:51 GMT)
The Halloween economy: trick or treat!
Despite the first treat of $125 billion handed to banksters, and seeing the Dow jump up in jubilation over 9,000 two days later, we saw it trick below the mark as the Fed handed out its lower discount rate from 1.5 percent to 1 percent, record lows reached in 2003 and 2004. And the doorbell is ringing again with voices shouting “trick or treat.” (Fri, 31 Oct 2008 04:42:08 GMT)
CENTRAL NY BUSINESS NEWS
• Bus takes you to NYC for as little as a buck For less than the price of a soda, people will be able to catch a bus from Syracuse to New York City starting Dec. 4. (Fri, 31 Oct 2008 09:19:48 GMT)
Fortis Earns $49 Million in the Third Quarter
Fortis Inc. recorded third quarter net earnings applicable to common shares of $49 million, or $0.31 per common share, compared to earnings of $31 million, or $0.20 per common share, for the third quarter of 2007. (Fri, 31 Oct 2008 11:00:00 GMT)
AmericanWest Bancorporation Announces Management Appointments, Strategic Organizational Changes, Performance ...
SPOKANE, Wash.----AmericanWest Bancorporation today announced that its board of directors has completed a comprehensive review of the Company’s operations that was initiated during the third quarter of 2008. (Fri, 31 Oct 2008 12:15:00 GMT)
TEXT: Fed Chief on the Future of Mortgage Finance
Federal Reserve Chairman Ben Bernanke spoke Friday afternoon on the future of the mortgage market. (Fri, 31 Oct 2008 18:41:38 GMT)
Bay National Corporation Reports Third Quarter Results
Bay National Corporation , the holding company for Bay National Bank, today reported a third quarter net loss per diluted share of $.83 compared with net income per diluted share of $.12 reported in the third quarter of 2007. (Fri, 31 Oct 2008 20:50:00 GMT)
IMF Executive Board Concludes 2008 Article IV Consultation with Sri Lanka
On October 17, 2008, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Sri Lanka. 1 Sri Lanka has achieved strong growth averaging 6½ percent since 2002, raising per capita income to about $1,625 (above regional peers) and reducing the poverty rate from 22.7 percent to 15.2 percent over 2002-07. (Fri, 31 Oct 2008 21:52:38 GMT)
Candidates have different ideas for the ailing auto industry, share goal of curing its ills
Isn't all of America hurting in one way or another. Why not just forgive everyone's debt and start all over? Seems the government is … read more bailing out the heavies at the expense of the lightweights. Just a stupid thought. (Fri, 31 Oct 2008 23:15:35 GMT)
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