Posted by Linda H on 10:15:00 AM
Posted by Linda H on 8:37:00 AM
Bank of America will provide deeper-than-anticipated principal reductions for about 200,000 homeowners under newly-disclosed terms of last month’s foreclosure settlement with state and federal authorities.
The cuts for homeowners who owe more than their homes are worth could total more than $100,000 each under the deal with the government, according to Dan Frahm, a spokesman for Bank of America. Bank of America hopes it will be able to reduce what it owes in penalties under the settlement by up to $850 million.
Posted by Linda H on 6:24:00 AM
This week meat giant Tyson Foods and fuel-maker Syntroleum announced that their Dynamic Fuels joint venture was selling millions of gallons of animal-fat-based diesel to Norfolk Southern railroad to power freight trains.
Tyson provides the feedstock for the renewable diesel, which it sources from slaughterhouses across the country. The refining process is done at a $170 million plant they opened last year in Geismar, La. It takes roughly 7 pounds of fat to make one gallon of fuel.
Posted by Linda H on 5:33:00 AM
Chrysler said its sales were up 40 percent from a year earlier as it sold nearly 134,000 new cars and trucks and all of its brands showed at least double-digit increases. Volkswagen sales rose 42 percent to nearly 31,000, led by the redesigned Passat midsize sedan. And Nissan sales were up 15.5 percent. Chrysler was the first automaker to report sales on Thursday. Analysts are forecasting a 3 percent increase for the industry, and all major automakers except General Motors Co. are expected to post higher sales. Smaller cars are expected to lead sales rise because gas prices spiked 30 cents during the month.
Posted by Linda H on 4:52:00 AM
Posted by Linda H on 3:12:00 AM
Apple Needs to Make it in America
