Economists see slim chance of U S recession this year
Economists say the probability of a U S recession this year is low, with some risk from a housing slump. Greenspan warned the United States could slip into recession, which would hit the global economy. The Dow fell over 400 points as housing data showed both gains and continued weakness. The January existing home median price fell 3.1 percent to 210600 dollars, while inventory remains bloated.
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Washington
Alan Greenspan
Wall Street
China
Greenspan
Federal Reserve
United States
Tme
U.S
National Association of Realtors
Ohio to Form Task Force Against Predatory Lending
A bipartisan Ohio panel approves using 3.5 million from past-due state debts to fund 17 new staff. The team will form a task force to police unscrupulous mortgage brokers, educate officials on open meetings laws, and monitor contracts for fraud while helping borrowers recover losses from sub prime loans and foreclosures.
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Ohio
Columbus
Marc Dann
Attorney General
Federated plans name change to Macy s Group
Federated Department Stores Inc parent of Macy s and Bloomingdale s announced plans to rename to Macy s Group Inc after stronger fourth quarter sales and lower costs. It will boost its stock buyback by 1 billion and immediately repurchase 45 million shares for 2 billion.
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Federated
Macy's
Cincinnati
Federated Department Stores Inc
Macy’s
Bloomingdale’s
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Federated Department Stores
Terry J. Lundgren
Associated Press
Chrysler offers $100K buyouts to all 49600 hourly workers
Chrysler Group will pay up to 100000 to leave the company under a buyout program for hourly workers and an early retirement option, part of a plan to shrink the firm and cut 13000 jobs in 2007. The offers involve UAW backing and aim to reduce annual production by 400000 units.
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Chrysler Group
Associated Press
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Chrysler
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