Published Friday, October 3, 2008
Wachovia OKs sale to Wells Fargo
NEW YORK (AP) - Wachovia said it agreed to be acquired by San Francisco-based Wells Fargo & Co. in a $15.1 billion all-stock deal. But Citigroup now demands that Wachovia abide by the terms of its earlier deal to buy Wachovia’s banking operations.
Investment fund freezes colleges’ cash
NEW HAVEN, Conn. (AP) - An investment fund that serves about 1,000 colleges and private schools partially froze withdrawals this week amid the credit crunch, forcing colleges to develop new plans to pay bills.
Faces sag with the economy
CHICAGO (AP) - The economy isn’t the only thing that’s sagging - so are faces, breasts and bellies as would-be cosmetic surgery patients increasingly opt against costly nips and tucks because of tough financial times.
Ford launches new F-150s at KC plant
CLAYCOMO (AP) - Ford Motor Co. kicked off production yesterday of a new, more fuel-efficient version of its popular F-150 pickup truck.
Stocks decline on jobs, factory reports
NEW YORK (AP) - Pessimism about a protracted economic downturn washed over the financial markets yesterday, sending stocks plunging and further tightening the credit markets.
Fannie Mae backs off on mortgage fee hike
WASHINGTON (AP) - Mortgage finance company Fannie Mae, seized by the federal government last month, is canceling a fee hike for new mortgages.
AIG plans to sell off business units
NEW YORK (AP) - The insurer American International Group Inc. said today it plans to sell off a number of business units to pay off its massive government loan, while retaining its U.S. property and casualty and foreign general insurance businesses.
Firms borrow record amount from Fed
WASHINGTON (AP) - Banks and investment firms borrowed in record amounts from the Federal Reserve Board’s emergency lending facility over the past week, providing fresh evidence of the credit stresses squeezing the country.
September sees more job cuts than in 5 years
WASHINGTON (AP) - Employers slashed payrolls by 159,000 in September, the most in more than five years, a worrisome sign that the economy is hurtling toward a deep recession.
UNDER THE HOOD
Many things could cause garage spots
By BRAD BERGHOLDT
McClatchy-Tribune News Service
Q: I’ve begun noticing some spotting on my garage floor under my Taurus after it’s been driven, parked and moved. I’m certain this should be addressed, but money is tight right now. How could I determine whether the spots are of a harmful cause or something that might be deferred for a while?
TEST DRIVE
CHEVY CORVETTE
By RICHARD WILLIAMSON
Scripps Howard News Service
For 55 years, Chevrolet has been tweaking, tuning and transforming the iconic Corvette, maintaining its reputation as America’s premier sports car. For the 2009 model, it’s doing something quite innovative with the convertible: lowering the price.
Old Ford owners find ride gets better with time
FORT WORTH, Texas (AP) - Bill Eads has seen wives come and go. But he still
has Henrietta. A beauty even now, at 83, his true love is a Model T Ford.
