Archive for the 'Business' Category

December 25th, 2008

As Property Values Plunge, Tax Bills Might Not Follow

Homeowners whose property values have plummeted as much as 40 percent are unlikely to see a corresponding drop in their real estate taxes next year, and some might face a tax increase as the counties surrounding the District struggle with huge budget shortfalls.


By Ashley Halsey III in Business  .::. Comments Off

December 25th, 2008

Firms Charge Thousands To Modify Mortgages

A growing industry has emerged to take advantage of the unprecedented wave of foreclosures, charging distressed homeowners for help negotiating better loan terms -- a service provided for free or for a nominal fee by many nonprofits.


By Renae Merle in Business  .::. Comments Off

December 25th, 2008

States Driven to Make Deeper Cuts in Medicaid

States from Rhode Island to California are being forced to curtail Medicaid, the government health insurance program for the poor, as they struggle to cope with the deteriorating economy.


By Amy Goldstein in Business  .::. Comments Off

December 25th, 2008

A Lesson for Obama on Reaching Out to the Federal Workforce

There has been much talk about President-elect Barack Obama looking to Abraham Lincoln and Franklin D. Roosevelt for inspiration and insight on building his administration and charting his first 100 days in office.


By Max Stier in Business  .::. Comments Off

December 25th, 2008

In Togo, a 10-Year-Old’s Muted Cry: ‘I Couldn’t Take Any More’

LOME, Togo -- Adiza ran scared and crying into the street. Ten years old and 4-foot-9, she fled the house where she had worked for more than a year, cleaning and sweeping from before dawn until late at night.


By Kevin Sullivan in Business  .::. Comments Off

December 24th, 2008

Consumers Spend More For First Time Since May

Consumers increased their spending last month for the first time since spring, as falling gas prices helped boost their purchasing power, new data showed yesterday.


By Annys Shin in Business  .::. Comments Off

December 24th, 2008

Post Co. Ends Deal to Buy NBC TV Station

The Washington Post Co. said yesterday that it has terminated a deal to buy NBC Universal's WTVJ in Miami because of a delay in getting the necessary regulatory approval and the poor economic environment.


By Dana Hedgpeth in Business  .::. Comments Off

December 24th, 2008

GMAC Gets Fed Approval to Become Bank Holding Company

The Federal Reserve gave General Motors a crucial boost yesterday by approving a request from GMAC, which provides funding for most of the automaker's dealers and many of its customers, to become a bank holding company.


By Binyamin Appelbaum in Business  .::. Comments Off

December 24th, 2008

With Fed’s Help, AIG Unloads $16 Billion in Credit Default Swaps

American International Group retired $16 billion in credit default swaps, the contracts that almost caused the company's collapse, after buying the underlying securities with help from the Federal Reserve.


By Hugh Son in Business  .::. Comments Off

December 24th, 2008

Backlogged FedEx to Work Through Holiday

ATLANTA, Dec. 24 -- Severe weather across the United States has caused a delivery backlog at FedEx, prompting the shipping company to take the extraordinary step of keeping all of its domestic sorting stations open for four hours on Christmas Day to allow customers to pick up packages.


By Harry R. Weber in Business  .::. Comments Off

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