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{ Monthly Archives } November 2009

High Court Hears Student Loan Bankruptcy Case

The Supreme Court will decide whether student loans may be forgiven in bankruptcy under certain circumstances. A bankruptcy judge approved a plan for Francisco Espinosa to repay his loan, minus interest. Eleven years later, the lender tried to collect the interest, arguing the repayment plan was void without a finding of undue hardship. » E-Mail This      » Add to Del.icio.us

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Tortilla Machine Maker Is Starving For Credit

In California’s San Gabriel Valley, Chip Masters, a company that assembles tortilla-making machines, has reduced its employees from 55 to nine to make ends meet. The company has also changed its business model and now repairs machines in addition to building new ones. » E-Mail This      » Add to Del.icio.us

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Financial Overhaul On Track In House, Lags In Senate

The House Financial Services Committee will likely vote Wednesday to send a sweeping financial overhaul bill to the full House. But hurdles remain in the Senate, and there’s concern that as the economy stabilizes, the urgency for action will fade. » E-Mail This      » Add to Del.icio.us

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GE, Vivendi Reportedly In Tentative Deal For NBC

Under the agreement, which has not yet been formalized, GE would buy the 20 percent stake in NBC Universal held by Vivendi, a source said. The agreement would pave the way for GE to sell a 51 percent stake in the TV and movie company to Comcast Corp. » E-Mail This      » Add to Del.icio.us

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Will Dubai Debt Tremors Spread?

Investors and governments around the world continued to intensely watch Middle Eastern financial centers Monday as stock markets in Dubai and its oil-rich neighbor Abu Dhabi each suffered nearly 10 percent drops. The question now: just how far could the contagion spread? » E-Mail This      » Add to Del.icio.us

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U.S. Pushes Mortgage Industry Over Foreclosures

The Obama administration said it will crack down on mortgage companies that are failing to do enough to help borrowers at risk of foreclosure, as part of a broad effort to ramp up participation in its mortgage assistance program. The Treasury Department will withhold payments from companies that aren’t doing enough to make the changes permanent. » E-Mail This      » Add to Del.icio.us

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Saab: New buyers emerge after Koenigsegg collapse

STOCKHOLM – (AP) A spokeswoman for General Motors’ Saab unit says several potential buyers have expressed interest in the Swedish brand after specialty car maker pulled out of a deal to acquire it. On Tuesday, a group led by Sweden’s Koenigsegg Automotive AB dropped out of a deal t Go here …

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Hotel owners, like home owners, behind on payments

MIAMI – (AP) Like many home owners, hotels are starting to drown in debt. They have been enticing travelers all year with sweet deals: credits for in-house spas and restaurants, up to 50 percent off five-star rooms, even free nights. But all that discounting hasn’t stopped Read more from the original …

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Administration plans new efforts on foreclosures

WASHINGTON – (AP) The Obama administration, battling a foreclosure crisis that shows no signs of relenting, will step up pressure on mortgage companies to do more to help people remain in their homes, officials said Saturday. The administration will announce its expanded program on Read the original post: Administration plans new …

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Tough times turning newspaper lenders into owners

SAN FRANCISCO – (AP) Newspaper headlines have skewered money lenders for dubious decisions that stoked the recession. Now the financiers are starting to headline newspapers in a new way as the owners. These newspaper novices are taking control through bankruptcy proceedings and givi See original here: Tough times turning newspaper lenders into …

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