Refinancing boom boosts consumer spending as rates stay low
Amid gloomy economy news, a surge in mortgage refinancing cuts monthly payments for homeowners like Alton Bradford and spurs big spending. The Mortgage Bankers Association forecasts 2001 as a record year for refinances, while the Fed’s rate cuts aim to lift growth and borrowing slows for savers.
MENTIONED IN THIS ARTICLE
Washington (Ap
Alton Bradford
Mortgage Bankers Association of America
Doug Duncan
Bush to name gay Republican as AIDS Policy Office director
President Bush will nominate Scott H. Evertz, 38, a Milwaukee fund-raiser, as director of the Office of National AIDS Policy and expand its mission to combat international spread. A task force led by Colin Powell and Tommy Thompson will address Africa and global AIDS, aiming to reduce infections among young African American men. Evertz also heads Wisconsin Log Cabin Republicans.
MENTIONED IN THIS ARTICLE
Washington, D.C
Bush
Scott H. Evertz
Milwaukee
Clinton
Africa
Colin Powell
Health and Human Services
Tommy Thompson
Condoleezza Rice
Margaret la Montagne
Evertz
Wisconsin
Log Cabin Republicans
Floods Rise Across Upper Midwest After Strong Weekend Storms
After a weekend of damaging winds and heavy rain the upper Midwest faced rising rivers and flood warnings. In Wisconsin about 33 000 power customers were cut off by wind damage and one person died when a tree fell on a car near Chicago. Minnesota National Guard personnel helped in Breckenridge with sandbagging as the Red River and nearby streams threaten homes. Ice chunks up to 65 feet were pushed onto yards along Lake Winnebago.
MENTIONED IN THIS ARTICLE
Associated Press
Upper Midwest
Wisconsin
Chicago
Minnesota National Guard
Breckenridge
Red River
Doran
Dana Sims
Lake Winnebago
Rescuers recover 16 killed in Vietnam helicopter crash
In Thanh Tri, Vietnam, rescuers recovered the bodies of nine Vietnamese and seven Americans who died when their helicopter crashed while searching for MIA remains from the Vietnam War. Witnesses described a low flutter before the crash as fog limited visibility. The victims were part of a Hawaii based 95 member team set to work at MIA sites in early May, with families to be notified before repatriation to Hawaii.
MENTIONED IN THIS ARTICLE
Vietnam
Thanh Trach
U.S
Nguyen van Minh
MIA
Army
Franklin Childress
Hanoi
Hawaii
TWA sale to American Airlines expected to close today
AMR Corp plans to pay 742 million for TWA and assume 3.5 billion in debt pending U S Bankruptcy Court approval. U S District Judge Sue Robinson and an appeals court denied creditors delay. United Airlines could gain advantage if it bids for US Airways. Labor concerns cited as obstacles to absorbing TWA's workforce. TWA based in St Louis since 1930.
MENTIONED IN THIS ARTICLE
Dallas
TWA
American Airlines
AMR Corp
American
U.S
Sue Robinson
Carl Icahn
Donald Carty
St. Louis
Pacific Gas and Electric Bonuses Before Bankruptcy
PG deems bonuses and midlevel raises awarded hours before PG&E filed for Chapter 11. The San Francisco Chronicle reports Rob ert Glynn memo approved payments for eligible Pacific Gas and Electric employees. Governor Davis criticizes management while union members miss bonuses, as court approves outstanding compensation.
MENTIONED IN THIS ARTICLE
SAN Francisco
California
Pg&e Corp
Robert Glynn
Pacific Gas and Electric Co
San Francisco Chronicle
Chronicle
Gray Davis
Pg&e
Low
Los Angeles
David Huard
Manatt, Phelps & Phillips
U.S. Bankruptcy Court
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Bradford
Rockville, Md
Federal Reserve
Larry Southward
Chrysler Sebring
Quinton, Va
Fed
Greg McBride
Bankrate.com
Aids Office
India
Kochi
New Life Fitness World
West
EAST
Iowa City
Iowa
MasterCard
Best OF Community Credit Union
River Ridge Drive
New Cedar Rapids, Iowa
Bestcomcu.org
Linn County
Best of Iowa Community Credit Union
the Gazette
Std Ave. SE
Cedar Rapids
Cedar Memorial Park Cemetery
Cedarmemorial.com
John Linge
Auto & Horn
Rebecca Stutzman
American Family Insurance
Wome Business Health Life
N. Park Place
American Family Mutual Insurance Company
Home Office
Madison
Israel
Marom
April
Wrod Gemoigs America
GIA
Rom Society
AGS
Ginsbag
2Nd Avenue
Fox
Juri Dailey Manager
Mey
Ogden & Adams
32Nd St. Dr
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