News

2008

November

17

• Holiday jobs dry up as economy weakens. This is the time of year when retail jobs are supposed to be as plentiful as holiday cheer, when stores gear up for the Christmas rush by filling their sales floors with college students, moonlighters…

• Even debt collectors hit hard times. This should be the best of times for America's debt collectors, since never has a society been so in hock. But ironically, much of the debt-collection industry is struggling because there's little cash left to…

• Hackers, phishers can't get away with it. In what is shaping up as a breakthrough year, federal authorities have quietly cracked down on some of the biggest Internet crime rings. Secret Service and FBI operations since January have broken up a huge…

• Forecasters view economy deteriorating rapidly. WASHINGTON — Forecasters' views of the economy are deteriorating rapidly, with economists now expecting job losses to be deeper and last longer and consumers to cut back spending at a far more rapid pace than…

• Americans are trying to save. Spendthrift (spend' thrift') n. a person who spends money carelessly; squanderer. Frugal (froo' gel) adj. not wasteful; not spending freely; thrifty. As economic news has worsened and recession appears inevitable, Americans' spending habits have swung…

16

• Downturn drags more consumers into bankruptcy. The economy’s deep troubles are pushing a growing number of already struggling consumers into bankruptcy, often with far more debt than those who filed in previous downturns. Plummeting home values, dwindling incomes and the near…

• Firms cut credit card limits to reduce risk. Cecil Bello has stumbled into a new corner of the credit squeeze. The 32-year-old management consultant has had the limits reduced on three of her credit cards. In September, U.S. Bank notified the Fairfax County…

• What happens if your insurer goes under?. Ever since the problems at the American International Group burst into the consciousness of everyday consumers two months ago, a sort of low-grade fear has set in among policyholders at insurance companies of all kinds.…

• Keeping your cash safe. Many depositors feel safer now that the Federal Deposit Insurance Corp. has, at least through 2009, raised insurance limits from $100,000 to $250,000 per individual account. Joint accounts are covered at $250,000 per co-owner; retirement…

• Closed funds now open to new investors. For more than 25 years, the highly regarded Sequoia Fund was closed to new investors. But this past spring, the mutual fund once again flung open its doors to bring in more assets. Sequoia has…

• Know before you borrow mortgage money. Exotic mortgages, as well as some lenders, are a thing of the past. But the need to borrow to buy a home is very much present. The lending landscape keeps changing fast, economists, mortgage brokers…

15

• Will Obama bring back 'buy downs'?. What will it take to get people off the sidelines to buy houses and help stimulate the economy? How about a mortgage at a 2.99 percent fixed rate for 30 years for anyone who buys…

14

• Scammers up to old, and new, tricks. Add one more worry to rising unemployment, mortgage meltdowns and crumbling consumer confidence: con artists playing on people’s economic worries. New scams are joining a raft of disreputable old favorites for investigators to chase. Deborah…

• Lower gas prices don’t make Americans feel rich. Drivers are breathing a sigh of relief as gasoline prices plunge across the country. Gas below $1.50 a gallon has appeared in a few places in recent days, and the national average has dropped almost…

• Thanksgiving focus isn't on turkey, it's on prices. Could this Thanksgiving turn out to be a turkey for consumers and retailers? In the midst of the worst holiday economy in decades, foodmakers and grocers find themselves offering special deals at a time of…

12

• Santa Claus traerá pocos empleos temporales. Quienes esperen conseguir ingresos adicionales trabajando durante las fiestas lo tienen especialmente difícil este año. "Echar las solicitudes es como jugar a la lotería, la probabilidad de que te ‘toque’ es mínima", dice Sandra Aguirre…

• Citigroup ayuda a propietarios con hipotecas. Citigroup ayudará a los clientes que tengan problemas para pagar las letras de la hipoteca concedida por ese banco y les dará una moratoria para tratar de contener los embargos de vivienda que desde hace…

11

• Students forced to borrow more. Higher college costs and steep losses in college savings plans are forcing students and their parents to borrow more money -- if they can -- to earn bachelor's degrees. Federal officials, fearing that the continuing…

10

• Government to grant AIG larger bailout. The federal government today announced an expanded effort to bail out American International Group, including a partial government takeover of the company, as the troubled insurance giant disclosed massive losses over the past three months.…

• Las becas no cuestan. Con el cuento de que te quieren ayudar a buscar becas y fondos para los estudios de tus hijos, algunas compañías te convierten en víctima de sus trampas. ¡Cuidado con ellas! Probablemente tú también estás…