Business Notes
A former Qwest Communications International Inc. chief financial officer pleaded guilty yesterday to a single count of insider trading, becoming the highest-ranking officer to admit to wrongdoing in a scandal …
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Home Depot shifts managers' roles Retailer Home Depot Inc. announced Thursday expanded duties for some executives and other management changes in a bid to improve store performance as the slumping U.S. housing market pressures sales.Commentread
Govt in denial that rates hurting: Labor The Howard government is in denial that high interest rates are hurting home buyers, with some losing their houses, Labor says.Commentread more...
GM finance sells majority in mortgage division (The Monterey County Herald) General Motors Corp., struggling with big losses, slow sales and high labor costs, said Thursday it sold a majority interest in its commercial mortgage division in a deal worth $9
Residential Mortgage Lender ResCap To Cut Jobs (WCCO Minneapolis/St. Paul) In the second major job reduction this year, Residential Capital LLC announced that it would cut 1,000 jobs due to the "deterioration of the subprime mortgage market."
Bank of America to acquire Seattle Mortgage Co. reverse-mortgage unit Bank of America Corp. announced Thursday it has agreed to acquire the reverse mortgage business of Seattle Mortgage Co., a subsidiary of Seattle Financial Group Inc. via Seattle Post-Intelligencer
Lucent's landmark In the late 1950s, architect Eero Saarinen, the famous designer of the Gateway Arch in St.read more...