Archive for January 15th, 2010

Obama mortgage relief program fails to deliver (AP)

President Barack Obama’s plan to fix the foreclosure crisis has been a dud, putting the housing market recovery at risk.

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Cintas Donates Over $300,000 in Aid to Haitian Earthquake Victims (Business Wire)

CINCINNATI—-Cintas Corporation has partnered with Cincinnati-based Matthew 25: Ministries to provide essential humanitarian aid to the victims of the recent earthquake in Haiti. On Friday, January 15th, Matthew 25: Ministries picked up the first of over 43,000 garments, nearly half of which are medical scrubs.

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Haiti mail being held by US Postal Service (AP)

The U.S. Postal Service said Friday it is holding mail destined for Haiti. Portions of Haiti have been devastated by an earthquake and the post office said the mail hold was imposed because of disruptions to normal flight operations by airlines.

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Consumers are squeezed as inflation outpaces wages (AP)

The notion that consumers will help lead the economic rebound received a stark rebuttal Friday: The spending power of American families is being squeezed.

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Mesabi Trust Declares Distribution (Business Wire)

NEW YORK—-The Trustees of Mesabi Trust declared a distribution of fifty-five cents per Unit of Beneficial Interest payable on February 20, 2010 to Mesabi Trust unitholders of record at the close of business on January 30, 2010.

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Recession Special: NASA cuts space shuttle price (AP)

Here’s a recession bargain: the space shuttle. NASA has slashed the price of these 1970s era spaceships from $42 million to $28.8 million apiece.

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Wall St stumbles on JPMorgan, economic data (Reuters)

U.S. stocks slid on Friday after JPMorgan Chase & Co reported deep fourth-quarter loan losses and raised concerns about bank profits.

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U.S. inflation tame, industrial output rises (Reuters)

U.S. consumer prices rose modestly last month, while industrial output rose on a cold snap, suggesting the economy was growing but not generating a level of inflation that would spur the Federal Reserve to roll back from its stimulative policies.

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JPMorgan Chase profits rise, but so do loan losses (AP)

JPMorgan Chase & Co.’s $3.28 billion profit report carried a sobering message: Consumers are still struggling to pay off their loans, posing a threat to a strong economic recovery.

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Fitch Rates Florida’s $250MM GO PECO Bonds ‘AA+’; Outlook Negative (Business Wire)

NEW YORK—-Fitch Ratings assigns an ‘AA+’ rating to the following state of Florida full faith and credit state board of education public education capital outlay bonds:

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