Wall Street rises as homebuilders lead stock gains
Stocks jump with gains in homebuilders retailers and consumer discretionary shares pushing the Dow up 173 points after a four day decline. Strong earnings and Federal Reserve steps to wind down emergency lending supported demand for government bonds.
MENTIONED IN THIS ARTICLE
Federal Reserve
Banks Borrow More From Fed During Emergency Lending Week
Commercial banks averaged 39.1 billion dollars in daily borrowing in the week ended Wednesday, up from 36.2 billion the prior week. Investment firms did not draw loans for the sixth straight week, last seeing 482 million in May. Rates on Fed loans were 0.50 percent.
MENTIONED IN THIS ARTICLE
Federal Reserve
Fed
Toy importer penalized for lead-paint hazard
The Commerce, California company OKK Trading agreed to pay a 665000 civil penalty after importing and selling toys with excessive lead levels and violating child safety standards. The settlement with the Consumer Product Safety Commission resolves allegations the firm knowingly imported and sold such toys from November 2007 through August, violating the federal ban on lead paint on toys.
MENTIONED IN THIS ARTICLE
OKK Trading
Consumer Product Safety Commission
CPSC
Commerce
Calif
Mortgage rates rise again as Fed MBS purchases continue
Freddie Mac reported a rise in 30 year mortgage rates to 5.42 percent from 5.38 percent as the Fed buys mortgage backed securities backed by Fannie Mae, Freddie Mac and Ginnie Mae. The program averaged $467 billion weekly, up $11.8 billion from the prior week. The aim is to push down rates and aid the housing market.
MENTIONED IN THIS ARTICLE
Freddie Mac
Fannie Mae
Ginnie Mae
Dream becomes reality guides Marion woman to seniors business
Marion entrepreneur Christine Smart, advised by coach Lisa Van Allen, launches Designing Moves to help seniors downsize and transition. The business aids selling and donating items, arranging new homes, and offers seminars and connections with retirement communities while building an initial client base.
MENTIONED IN THIS ARTICLE
Marion
Janet Borholm
Gazette Arion
Christine Smart
Lisa van Allen
van Allen & Associates
Smart
Lisa
van Allen
Cedar Rapids dealer offers Ford stock with vehicle purchases
Mark Zimmerman Ford-BMW-Hyundai-Mitsubishi in Cedar Rapids launched a promo June 11 giving 40 free Ford shares with any new or used vehicle and one share to test drivers. Since start, 27 customers qualified for 40 shares and 39 for one share as dealers seek creative ways to boost sales amid a 30 percent decline. Zimmerman's company last offered such stock in the early 1980s. another dealer in Dearborn also has given Ford stock with cars this year.
MENTIONED IN THIS ARTICLE
Ford
Cedar Rapids
Creative
Chezik-Bell Honda
Iowa City
Honda
Zimmerman Ford
Mark Zimmerman
Gazette
Tony Staab
Village Ford
Dearborn
Mich
George C. Ford
the Gazette
Ford Motor Co
Homeownership Eroding as Wealth Builder Survey Finds
Nearly half of adults doubt homeownership builds wealth per a National Foundation for Credit Counseling survey of about 1,000. Gail Cunningham notes housing was once central to retirement planning, but attitudes shift after mortgage market stress and observed consumer experience.
MENTIONED IN THIS ARTICLE
Amy Hoak
McClatchy
Chicago
National Foundation For Credit Counseling
Foundation
Gail Cunningham
Ganization
Kid Talk on Polite Customer Service and Confidence
A seasoned shopper recalls a positive teen suit fitting and contrasts it with modern service woes. The piece offers tips for young consumers to stay polite, explain concerns clearly, use humor, personalize conversations, and ask for discounts after service interruptions.
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Wall Street
Designingmoves
Janet.rorholm
Gazcomm.com
Steve Rosen
Kansas City Star