FHA’s Florida fiasco

What the heck happened to the FHA’s loans in Florida?
The state dominates the list of troubled metro areas for Federal Housing Administration-insured mortgages. In fact, 16 of the top 25 locales with the highest default rates are in Florida, as of December, with tiny Punta Gorda on the Gulf Coast leading at 22.7%.
The poor […]

Inside China’s garlic bubble

Garlic has always been revered in China — not so much for its overpowering bite but as an important ingredient in cuisine and related health benefits. The philosopher Confucius was so fond of the pungent plant he even extolled its virtues in the Shih Ching, the oldest anthology of Chinese poetry.
But never in its […]

Denver area lost 49,400 jobs in a year

The Denver metro area lost 49,400 private-sector jobs — 4.78 percent of the total — in the 12 months ending in January, according to an analysis of new federal jobs data.
The analysis is by G. Scott Thomas, projects editor of the Denver Business Journal's sister paper, Business First of Buffalo, N.Y.
The Denver-Aurora-Broomfield area had 1,033,800 […]

Clothing shops close their doors

Fleur’t Boutique in North Scottdale and Spoken Boutique in downtown Phoenix are closing their doors.
Fleur’t Boutique will be closing its doors at the end of April at Gainey Village Shops. A liquidation sale will start on Friday with items sold at 20 to 50 percent off retail prices.
Under the ownership of Kori Davidson, the boutique […]

Trusting science on climate change

Those beating the global warming drum have sure taken a few lumps lately.
First there were the hacked e-mails from climate scientists, which critics say show an effort to massage some data and keep some scientists out of the debate.
Then there was an admission from the Untied Nations’ top climate body saying that it […]

AIG: $51 billion down, $51 billion to go

After selling off its second "crown jewel" insurance business in a week, AIG has made a sizeable dent in its plan to repay its debt to taxpayers.
But the troubled insurer is still just halfway home and it’s not clear exactly how AIG will pay off the remainder.
On Monday, the insurer announced that it […]

Jobs says no to tethered iPad

Apple Inc. CEO Steve Jobs has reportedly quashed the hopes of prospective iPad buyers who thought they might be able to access the Internet with the new devices using their iPhone data plan.
Swedish record producer Jezper Soderlund reports that he asked Jobs about the practice known as tethering in an e-mail:
"I'll keep it short.
I'm Jezper […]

Student loan provider offers online savings

Students can now pay their college loans and save with Sallie Mae.
The largest U.S. student loan company took its first steps into retail banking Tuesday with the launch of two new online savings accounts.
The Reston, Va.-based company said it will offer high-yield savings accounts with a 1.35% interest rate and certificates of deposit […]

Bernanke Makes Two-Year Treasury Notes Sweetest Spot

Past may be no prologue for Treasury investors when Federal Reserve policy makers begin to withdraw their unprecedented monetary stimulus without raising interest rates.
For the first time since at least 1980, a change in monetary policy may mean the difference between short- and long-term Treasury yields will widen rather than narrow. The threat […]