July 18, 2008

The Latest Business Headlines from WWJ Newsradio 950

GM Shares Rise | General Motors Corp. stock rose sharply for a third straight day, as investors regained at some confidence in the troubled automaker, Forbes.com reports. | Story

GM to Export China-Made Minivans | General Motors Corp. said Thursday one of its Chinese joint ventures has begun exporting Chevrolet minivans to Peru. | Story

Starbucks Closes Mich. Stores | Starbucks Coffee plans to close 18 stores in Michigan, including eight in metro Detroit, the Detroit Free Press reports. | Story

Tunnel Sale | Mayor Kilpatrick will move ahead with plans to create an authority to operate Detroit's half of the Detroit-Windsor Tunnel, despite council's objections. | Story

More School Aid | Michigan's K-12 public schools would get between $56 and $112 more per pupil and more, under a proposal approved Thursday by the state Senate. | Story

McCain Visits Tech Center | The Republican presidential candidate will be making a stop at the place where General Motors is designing its first plug-in electric car. | Story

Rally on Oil Slide | Stocks rose Thursday and the Dow had its biggest two-session percentage gain since 2002, as the continued slide in oil prices fueled stocks like GM. | Story

HOW SAFE IS YOUR BANK? WARNING SIGNS COULD INDICATE TROUBLE FOR YOUR MONEY

Many depositors who flocked to withdraw money from California's IndyMac Bank this week suddenly were faced another problem: Where will their money be safe?

What should you look for in a bank? CBS News correspondent Bill Whitaker spoke with bank analyst Dennis Santiago, who says that while there is no foolproof checklist to determine if a bank is sound, there are important things to consider.

To view the report, on CBSNews.com, click here.

Bank Seizure Q&A

The government's seizure of California's IndyMac Bank – and its subsequent investigation for mortgage fraud – raises concerns for many consumers about whether their banks might be next. Analysts predict more financial institutions will fail. What is the government's role when a bank fails, and if other banks are at risk? For some answers, click here.

Five Ways You Can Encourage Your Family to Save Money

Soaring gas prices and worries about the economy make most financial matters anything but fun right now. But it still helps to take a lighter approach to money issues when you can. Dow Jones business writer Jennifer Openshaw has come up with five enjoyable ways to get your family into the habit of saving money. To read the list, click here.

Single Parents Face Special Financial Challenges

It's tough enough to plan for the financial future in a traditional two-parent family. The task is even harder for families headed by one parent. With the inevitable stresses on one-income households, it becomes a juggling act to ensure that all of the financial planning priorities are taken care of, according to Christine Van Cauwenberghe, a financial-planning expert at Investors Group in Winnipeg. More...

MORE NEWS

CONSUMERS CUTTING BACK BECAUSE OF GAS PRICES: Consumers are cutting back on spending because of rising gas prices, according to a survey released Thursday by Nielsen Co., which tracks consumer habits. Nearly two-thirds, or 63 percent, of consumers are cutting spending because of high gas prices, up 18 percentage points from a year ago, the survey shows. According to the study, which queried about 50,000 consumers during the first week of June, when regular gas averaged $3.98 per gallon, 78 percent of consumers are combining shopping trips, 52 percent are eating out less and 51 percent are staying at home more. More...

SINGLE-FAMILY CONSTRUCTION FELL IN JUNE: Construction of single-family homes fell in June to the slowest pace in 17 years although a change in New York laws helped give a big boost to apartment building. The Commerce Department reported Thursday that construction of single-family homes dropped by 5.3 percent in June to a seasonally adjusted annual rate of 647,000 units, the weakest performance since January 1991, another period when the housing industry was going through a severe downturn. More...

TIPS FOR SMALL BUSINESS OWNERS: With the recent credit crunch, small business owners are having a tough time getting loans. Colleen DeBaise, small business editor for SmartMoney.com, has some tips for funding your business in tough times. More...

GMAC KEEPS BANK: The financial services corporation got a needed boost Wednesday as it maintained its hold on GMAC Bank, Dow Jones Marketwatch reports. More...

WORLDWIDE AUTOMOTIVE REPORT PODCAST: John McCain takes his campaign to General Motors. GM stock keeps rising. A unique car maker chooses metro Detroit for its headquarters.

YOUR WEEKEND

KID ROCK AT DTE: The bad boy rocker takes the stage with his expanded 11-piece Twisted Brown Trucker Band along with Rev Run from Run DMC and special guest Uncle Kracker. Performances take place be Saturday, Sunday and Tuesday at DTE Energy Music Theatre in Clarkston. More...

CONCERT OF COLORS: Metro Detroit's 16th Annual Diversity Festival brings communities and ethnic groups together through music from at least 20 different countries around the world. Presented by the Arab American National Museum, the festival runs through Sunday at the Max M. Fisher Music Center in Detroit. More...

MORE IDEAS AT GREATSTUFF For even more things to do, visit GreatStufftodo.com, southeast Michigan's online resource for creating a better weekend and making the most of your spare time. The GreatStuff Web site and weekly e-newsletter are produced through a partnership between ArtServe Michigan, the Detroit Free Press and WWJ Newsradio 950.