News money 2008-05-13 Andanh.com

Housing aid bill faces presidential veto Sat, 10 May 2008 08:14:00 EDT
WASHINGTON — Democrats' plans to help hundreds of thousands of homeowners struggling with rising subprime mortgage rates and plummeting house values could be sidetracked by President Bush's threatened veto and the opposition of many congressional Republicans.

AIG problems help send Wall Street tumbling Sat, 10 May 2008 08:11:00 EDT
NEW YORK (AP) — Wall Street ended the week with a big decline as investors grappled with two of the biggest threats to the economy: fallout from turmoil in the credit market and surging energy prices. All three major indexes suffered losses for the week.

Oil prices top $126 a barrel, gas hits $3.67 a gallon Sat, 10 May 2008 08:10:00 EDT
NEW YORK (AP) — Oil rose above $126 a barrel for the first time yesterday, bringing its advance this week to nearly $10, as investors questioned whether a possible confrontation between the U.S. and Venezuela could cut exports from the OPEC member.

Mom's budget cut Saturday May 10, 2008
CINCINNATI - Some moms may not be getting both chocolates and a bouquet for Mother's Day this year, as consumers watch their spending. Even businesses that traditionally benefit from the holiday, like florists and restaurants, are offering special offers and products.

Rebates aren't expected to fix economy Saturday May 10, 2008
The Bush administration's tax rebates won't prevent the U.S. economy from stagnating in the second quarter as soaring food and fuel bills hurt consumers, a Bloomberg News survey showed.

High fuel cuts FedEx profit forecast Saturday May 10, 2008
FedEx Corp., the second-largest U.S. package-shipping company, said fourth-quarter profit will miss its forecast after surging fuel prices raised costs by at least $100 million more than estimated.

Circuit City gets closer to a sale Saturday May 10, 2008
RICHMOND, Va. - Circuit City Stores Inc. yesterday gave in to pressure from activist shareholders, essentially putting itself up for sale and agreeing to nominate dissident directors to its board.

Ex-Siemens official facing investigation Saturday May 10, 2008
Former Siemens AG Chairman Heinrich von Pierer faces an administrative probe by Munich prosecutors over his possible role in a bribery scandal at the company.

Stocks decline after AIG has $7.8B loss Saturday May 10, 2008
NEW YORK - Wall Street ended the week with a big decline as investors grappled with two of the biggest threats to the economy: fallout from turmoil in the credit market and surging energy prices. All three major indexes suffered losses for the week.

For seniors, life after the Manor Sat, 10 May 2008 06:00 EST

Starting next week, the new Seashore Point in Provincetown senior living and nursing care complex will begin to fill with residents, marking a significant milestone for the town.

Smoking foes fume at tax bill change Sat, 10 May 2008 06:00 EST

Smokers could pay less for their cigarettes — even with a $1 increase in the excise tax — under a pricing amendment that whisked through the state Senate with little attention this week.

Trade deficit closes sharply Sat, 10 May 2008 06:00 EST

WASHINGTON — The US trade deficit narrowed sharply in March as demand for imports fell by the largest amount since the last recession was ending. Analysts forecast that trade would continue to be one of the economy's few bright spots this year.

Oil gushes to new high Sat, 10 May 2008 06:00 EST

NEW YORK — Oil rose above $126 a barrel for the first time, bringing its advance this week to nearly $10, as investors questioned whether a possible confrontation between the U.S. and Venezuela could cut exports from the OPEC member.

Cape Air spreads wings to upstate New York Sat, 10 May 2008 06:00 EST

Cape Air yesterday officially inaugurated its two newest routes, marking the latest step in the Hyannis-based airline's recent aggressive expansion.

Skateboard store closed after theft Sat, 10 May 2008 06:00 EST

Last Saturday, thieves struck True Ride Skateboarding in East Falmouth for the second time in nine months. Police estimate they stole nearly $11,000 in cash, DVDs, T-shirts and skateboarding equipment.

Stay-at-home mom's value: $117K Fri, 09 May 2008 06:00 EST

BOSTON — If a stay-at-home mom could be compensated in dollars rather than personal satisfaction and unconditional love, she'd rake in a nifty sum of nearly $117,000 a year.

Consumers flock to outlets Fri, 09 May 2008 06:00 EST

NEW YORK — Caught in the maelstrom of higher gas and food prices, Americans — even more affluent ones — are seeking shelter in wholesale clubs and discount apparel chains.

Deal reported on offshore wind farms Fri, 09 May 2008 06:00 EST

BOSTON — The state would open ocean sanctuaries to "appropriate scaled" renewable energy development under a Statehouse deal that could allow a controversial wind farm in Buzzards Bay.

Cape Cod Five confident on future Fri, 09 May 2008 06:00 EST

HARWICH — The leaders of Cape Cod Five Cents Savings Bank are confident that the bank will be able to withstand the economic turmoil that is causing problems for financial institutions across the country.

Christy's cuts gas price, with cap Fri, 09 May 2008 06:00 EST

HYANNIS — The gas cap is on. And it's a 10-gallon one at that.

Head of business bureau in Worcester resigns after testimony Sat, 10 May 2008 11:45:54 -0400
WORCESTER - The head of the Better Business Bureau of Central New England has resigned after testifying about an ethical breach he made while working as a stockbroker. ...

Nuke plant strike nears Sat, 10 May 2008 10:42:00 -0400
Three hundred workers at Plymouth's Pilgrim Nuclear Power Station are gearing up for a potential strike next week if bitter conTract talks aren't resolved. ...

Former Red Sox part-owner Les Otten launches wood-pellet venture Sat, 10 May 2008 00:03:28 -0400
PORTLAND, Maine - With oil prices continuing to rise, a former ski industry mogul and part-owner of the Boston Red Sox has started a venture that aims to convert thousands...

Guinness to cut 250 brewery workers Fri, 09 May 2008 23:02:40 -0400
DUBLIN, Ireland - Guinness beer owner Diageo PLC rattled an Irish icon yesterday, announcing plans to lay off more than half of its brewery workers, close two breweries and...

Stocks decline as AIG reveals need for cash, oil surges Fri, 09 May 2008 16:38:35 -0400
NEW YORK - Wall Street ended the week with a big decline as investors grappled with two of the biggest threats to the economy: fallout from turmoil in the credit market and...

Citigroup to shed nearly $500B in assets Fri, 09 May 2008 13:08:40 -0400
NEW YORK - Citigroup Inc. said today it aims to shed about $500 billion in assets and grow revenue by 9 percent over the next few years, as it tries to rebound from massive...

Icahn prepared to buy Circuit City if Blockbuster can't Fri, 09 May 2008 09:35:03 -0400
RICHMOND, Va. - Circuit City Stores Inc. said Friday it will allow video-rental chain Blockbuster Inc., and its largest shareholder Carl Icahn, to conduct due diligence in...

Goodall, Green Mountain Coffee, go to aid of Gombe chimps Fri, 09 May 2008 09:27:22 -0400
Renowned primatologist Jane Goodall debuted a Green Mountain Coffee Roasters brew yesterday that she hopes will help preserve the habitats of wild chimpanzees in Tanzania's...

Maintenance, fire trigger alert to curb electric use Fri, 09 May 2008 04:37:08 -0400
A transmission-line fire and a power-plant problem forced the overseer of New England's electric system yesterday to call for unusual mid-spring conservation measures...

Hundreds rally for union drive Fri, 09 May 2008 04:00:40 -0400
Hundreds of health-care workers rallied yesterday in the Longwood area to call for unionization of tens of thousands jobs at the city's prestigious hospitals. The...

Illuminating career path Fri, 09 May 2008 02:26:12 -0400
Paris, brimming with historic culture and vibrant energy, is the sort of place that can capture your heart. There is so much to see, so much to do and so many people to meet,...

State rejects boost in home insurance rates Fri, 09 May 2008 02:09:41 -0400
The state insurance commissioner rejected a request for a sharp rate hike by the state's home insurer of last resort. The FAIR Plan had requested a 13.2 percent...

3 top airlines boost fuel fees $20 roundtrip Thu, 08 May 2008 22:29:27 -0400
NEW YORK - The three biggest U.S. carriers said yesterday they have again raised ticket prices, this time by $20 roundtrip, to recoup rapidly rising fuel costs. The increases...

Feds widen search for FBI Boston site Sat, 10 May 2008 13:07:46 -0400
A site for a new headquarters in Boston is still on the FBI's most wanted list, more than a year after the agency first started its hunt for a new home. In a sign...

Great deal in Dorchester Fri, 09 May 2008 18:03:50 -0400
Looking for a great deal? The furnished, 1,656-square-foot triplex model townhouse at Dorchester's Residences at Norfolk Place features three bedrooms, high-end finishes...

Real estate market ready for rebound Fri, 09 May 2008 13:26:01 -0400
Forget soaring foreclosures and the free-fall in home prices. The battered real estate market may have finally hit bottom, a nationally known Boston real estate expert is...

Housing aid bill faces veto by President Bush Fri, 09 May 2008 12:07:04 -0400
WASHINGTON - Democrats' plans to help hundreds of thousands of homeowners struggling with rising subprime mortgage rates and plummeting house values could be sidetracked...

NorthPoint buyer quits deal Fri, 09 May 2008 02:49:49 -0400
A Texas-based investment group has pulled out of a deal to buy NorthPoint, a grand city-within-a-city slated to take shape near the Charles River in Cambridge. Archon...

Housing's Magical Misery Tour Fri, 09 May 2008 02:47:12 -0400
CHICAGO - The yellow-and-orange bus would stand out anywhere, even without the giant letters proclaiming its purpose: "RepoHomeTourChicago.com." A handful of...

Checking out brokers Fri, 09 May 2008 02:40:45 -0400
Thousands of mortgage brokers could lose their jobs under a proposal that would require "loan originators" to have solid personal credit histories, an industry spokesman...

Dan Aykroyd's house of blues Thu, 08 May 2008 21:29:42 -0400
Funnyman Dan Aykroyd has sold his California home to actress Beverly D'Angelo, reportedly for a $400,000 discount. The Los Angeles Times said Aykroyd originally...

Real estate Q & A Thu, 08 May 2008 20:52:48 -0400
Q We made an offer on a house recently, arriving at a price and signing a contract after some negotiations that took place while my husband was home on...

Reporter challenges ruling over sources in anthrax case Fri, 09 May 2008 13:54:29 -0400
WASHINGTON - A federal appeals court appeared reluctant today to uphold hefty fines for a reporter who refuses to identify the sources of her stories about the 2001 anthrax...

Scripps board approves split into cable, newspaper companies Fri, 09 May 2008 11:33:37 -0400
CINCINNATI - E.W. Scripps Co. board has approved management's plan to separate the media company into two public companies, effective July 1. The board authorized...

Facebook agrees to beef up security Fri, 09 May 2008 00:04:11 -0400
Facebook, the world's second-largest social networking Web site, will add more than 40 new safeguards to protect young users from sexual predators and cyberbullies, according...

Toyota hikes U.S. prices in wake of weak dollar Fri, 09 May 2008 22:57:42 -0400
Toyota is raising prices on some U.S. models amid increased worries about its profit growth in the key American market. The Japanese auto giant is raising base prices...

Chrysler unleashes Dodge Challenger into an uncertain market Fri, 09 May 2008 05:17:09 -0400
BRAMPTON, Ontario - The 2008 Dodge Challenger began rolling off the assembly line Thursday into an uncertain market that could embrace the nostalgic muscle car or reject it...

A growing market: Demand for local products drives community agriculture programs Tue, 13 May 2008 09:31:00 EDT
HAMILTON — When you get out of your car at Green Meadows Farm, the chicken greeting you in the parking lot will not be destined for someone's dinner table anytime soon.
However, there will be at least one chicken in the pot this year for the dozens who have purchased shares in the farm's sold-out community supported agriculture operation, which includes shares of chickens, lambs, pigs and turkeys.

AUTO SCANNER: Look at antifreeze to diagnose engine problem Tue, 13 May 2008 05:45:00 EDT
Q: I was wondering if you could solve a problem that has baffled myself as well as a half-dozen mechanics. I own a 1997 Buick Century Custom Edition in which the "service engine" light comes on frequently. It may come on at any time — on the highway, low speed, or parked. It also appears during any temperature. I've brought it to a number of mechanics who have run diagnostics and tune-ups and have tried everything and seem to think it may be a computer glitch. The car runs well whether the light is on or off. Any guess as to what it may be?

Beverly native launches community-supported agriculture program Tue, 13 May 2008 05:45:00 EDT
TOPSFIELD — Mike Raymond started farming in his mom's back yard as a Beverly High School senior, and the 37-year-old and his plants have returned to their roots.
A 15-year veteran of organic farming, Raymond is launching First Light Farm, a community-supported agriculture program that will distribute fresh produce throughout the summer to families that buy shares. The $600 cost of a share should feed two to four people, with 10 to 30 pounds of produce provided a week. Raymond is partnering with New Meadows Market in Topsfield, which will distribute the produce. Raymond is growing in tiny greenhouses in four communities and fields in two communities, all so he can farm for people he meets through the new business.

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