Economics News

Lehman estate demands millions from nonprofits

As she runs in a tough primary on Tuesday, first-term Mayor Linda Thompson confronts numerous hurdles: increased killings and other street crime, finances that threaten bankruptcy and caused city income taxes to double, unsightly trash filling city lots and skeptical suburbanites shunning city businesses.

A new air scubber for the city's incinerator should arrive in about a week, Mayor Leo Fontaine said in a phone interview Wednesday afternoon.

From left, San Jose State University students Benjamin Lee, Brian Ha and Evan Kashi work on their class homework in the EE98 Introduction to Circuits class taught by Professor Khosrow Ghadiri, at San Jose State University in San Jose, Calif.

The Detroit city government is weeks away from running out of the cash it needs to operate, according to an initial report from the emergency manager overseeing its finances.

The city could ask voters as soon as November to raise taxes to pay back some debts suspended in bankruptcy and bolster Stockton's fight on crime under the so-called Marshall Plan.

The upward march of student loan borrowing is "something we are keeping an eye on and thinking quite carefully about," Fed governor Sarah Bloom Raskin said in response to an audience question Thursday.

Tesla Motors Inc., the electric-car maker run by Elon Musk, increased the size of its equity and debt offerings by 30 percent to as much as $1.08 billion to repay its U.S. loan and build up cash reserves.

Stocks continued their climb into uncharted territory on Friday, racking up the fourth week of gains in a row as encouraging economic data prompted investors to pick up shares of growth companies.

An expert on the American gaming scene, Maurice "Mac" VerStandig is well-versed in casino management from common issues of fraud and theft prevention to the Unlawful Internet Gambling Enforcement Act and Indian Gaming Regulatory Act .

Zero down loans are on the rebound on a small scale, but is it really such a horrible thing for the housing sector? The term "Zero Down Loan" is almost guaranteed to induce an immediate negative response in any one hearing the term.

The Nurburgring racetrack in Germany is officially up for sale this week. The sale of the 12.8-mile, 154-turn track includes the salaries of 300 employees, but not the $515-million debt that caused the 'Ring's bankruptcy.

Mark Huffman has been a consumer news reporter for ConsumerAffairs since 2004. He covers real estate, gas prices and the economy and has reported extensively on negative-option sales.

On Wall Street, the wheel of fortune can spin around and around, from enormous cash bonuses and luxurious perks one year to the unemployment line the next.

Admitted illegal inside trader Michael Van Gilder broke a promise not to act on information that billionaire Kirk Kerkorian was about to buy into Delta Petroleum, its former CEO says in court papers.

A New Jersey casino regulator says Revel needs to increase the amount of money it wins at slot machines or it will struggle to survive.

Patch media partners WISN 12 News spoke to the CEO of the Illinois company that bought the bankrupt Golden Guernsey .

For nations without a large domestic economy, adequate resources and a need for new markets, a retreat from global integration poses challenges.

Citigroup Inc. can be granted a $1.2 billion claim against Lehman Brothers Holdings Inc.'s defunct brokerage and will pay an affiliate of the Lehman parent $167 million to settle a dispute over amounts owed on foreign-exchange transactions, a judge ruled.

Camden County will bid on the Woodcrest Country Club in an effort to preserve the bankrupt Cherry Hill golf course as open space when the property is sold at auction Monday.