Home Sales Drop 8 Percent In September
The National Association of Realtors reports existing home sales fell 8 percent in September to 3.22 million, the slowest pace since January 1988, with declines across regions except the Northeast. Consumer confidence and Gulf War uncertainty cited as causes, while southern markets suffered a larger drop due to military base deployments.
MENTIONED IN THIS ARTICLE
Washington
Norman D. Flynn
National Association of Realtors
Flynn
Persian Gulf
John A. Tuccillo
Gulf
Tuccillo
South
West
Midwest
Consumers delay big purchases amid uncertainty
Norman D. Flynn notes that consumer uncertainty drives households to postpone major expenses like housing, as people hesitate when futures are unclear and big-ticket plans are put on hold.
Schumer Faults S&L Whistleblower Protections GAPS
Rep. Charles Schumer urges extending whistleblower protections to Federal Deposit Insurance Corp. staff and other banking employees amid S&L cleanup failures. He compares current rules to taking a cop’s gear and firing him for arrest attempts. Patricia Cosgrove backs the call, citing ongoing fraud at savings and loans.
MENTIONED IN THIS ARTICLE
Washington
S&l
Rep
Charles E. Schumer
D-N.y
Schumer
House Budget Committee
Federal Deposit Insurance Corp
Federal Home Loan Banks
Savings and Loans
Patricia Cosgrove
Federal Home Loan Bank of New York
Associated Press
Southern Star drug sweep nets 3743 fugitives
The international operation dubbed Southern Star led to 3,743 arrests and seizures valued at $12.8 million in cash drugs and contraband. Phones land to Bermuda Zealand cases spanned state federal and international charges with 28 agencies participating. Thornburgh hailed new coordination while cautioning impact on U.S. drug sales remains unclear.
MENTIONED IN THIS ARTICLE
Miami
New Zealand
Bermuda
U.S. Ma ’S
Infotechnology faces SEC probe and possible asset sale
Infotechnology confirmed a formal SEC investigation and said it may raise cash by selling businesses. The company hired Alan Hirschfield and Allan Tessler to explore options as it struggles with cash flow and debt. The SEC investigation follows FNN CFO Bolen's dismissal and accounting firm changes tied to a $28 million investment dispute. Deloitte withdrew opinions on 1989 and current financial statements.
MENTIONED IN THIS ARTICLE
New York
Alan Hirschfield
Allan Tessler
FNN
Infotech
Hirschfield
Tessler
Infotechnology
Securities and Exchange Commission
SEC
Amber Gordon
Gordon
C. Steven Bolen
Bolen
Deloitte & Touche
Coopers & Lybrand
Deloitte
Republicans warn of Bush blame as election nears
GOP strategists forecast losses for Elec tion Day and aim to pin blame on President Bush as polling shows Democratic gains across states. Critics call the budget impasse a disaster for Republicans and say the president appears not to be in charge.
MENTIONED IN THIS ARTICLE
Washington
Bush
Senate
David Keene
United States
Lyn Nofziger
White House
George Bush
House
Congressional
Douglas Bailey
Bailey
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