From the Boston Globe: Patrick signs state budget (ht energyecon ) Governor Deval Patrick today signed a budget for next year that cuts aid to cities and towns, pares back programs throughout state government, and imposes $1 billion in additional taxes on Massachusetts residents, shoppers, and visitors. … “This is…
Here is an interesting article on FirstFed in the Los Angeles Business Journal: Last One Standing (ht Will) Since souring option ARMs have taken down a number of big lenders, the big question looms: Will FirstFed, a savings and loan founded in Santa Monica on the eve of the Great…
From HotelNewsNow.com: California to see record number of hotel foreclosures The number of California hotels in default or foreclosed on jumped 125% in the last 60 days. The state now has 31 hotels that have been foreclosed on and 175 in default, according to California-based Atlas Hospitality. With 19.6% of…
Today Mirae fell, A mirage of asset wealth We now know the truth. by Soylent Green is People Update: From the FDIC : The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $50 million. Wilshire State Bank’s acquisition of all the deposits was the…
From the American Trucking Association: ATA Truck Tonnage Index Increased 3.2 Percent in May Click on graph for larger image in new window. The American Trucking Associations’ advance seasonally adjusted (SA) For-Hire Truck Tonnage Index rose for the first time since February 2009, gaining 3.2 percent in May. May’s increase,…
A few stories too … a major auto supplier is near bankruptcy … From Dow Jones: Lear Corp. Working On Prepackaged Bankruptcy – Sources Lear Corp. (LEA), a maker of automotive seats and interior electronics, is working on a pre-packaged bankruptcy five days before it must make a $38 million…
A few weeks ago, I received a simple request from a person I know in the community. She asked me to go to a website and sign a simple petition on behalf of a cause she’s passionate about. She explained the cause in detail and provided the URL, making…