The
Latest Business Headlines from WWJ Newsradio 950
Leaders:
Mayor Must Go | Prominent Metro Detroit leaders
say Kwame Kilpatrick should consider what's best for
the city and himself, the Detroit Free Press
reports. | Story
| Related
Story
Kilpatrick
Hearing Sept. 3 | Gov. Jennifer Granholm's
office says a hearing on a request to remove Detroit
Mayor Kwame Kilpatrick from office will be held Sept.
3 in Detroit. | Story
GM
Ups Delphi Loan | General Motors has agreed
to lend Delphi an additional $300 million as the supplier
struggles exit bankruptcy protection, BusinessWeek
reports. | Story
| Related
Podcast
Foreign,
Domestic Quality Close | The latest J.D. Power
dependability survey shows vehicles are improving, with
little difference between imports and U.S.-built autos.
| Story
NWA,
PayPal Team Up | Northwest Airlines passengers
can buy tickets online now and pay for them later with
PayPal's financing service, The Detroit News reports.
| Story
Blues,
Cancer Group Team Up | Blue Cross Blue Shield
of Michigan is teaming up with a national cancer organization
to collect and analyze treatment data, The Detroit
News reports. | Story
Financials
Stumble | The Dow nearly wiped out its gains
for the week, as unemployment data and losses at AIG
put an end to the recovery for banks and lenders. |
Story
In the Market Brought
to you by The Advanced Strategies Group
TAKE
A LONG LOOK AT LONG-TERM CARE – LONG BEFORE YOU
NEED IT
With
the average cost of a nursing-home stay running at around
$76,000 per person annually, it’s more important
than ever to look at long-term health care insurance.
A
policy may not be needed for those expecting to qualify
for Medicaid. But not everyone meets Medicaid eligibility
requirements in Michigan or other states. Limits for
income and assets are lower you might think.
For
five things you should keep in mind when shopping for
long-term care coverage, click
here.
One
Way Out of a Mortgage: Sell Your Home and Rent It Back
You’ve
heard about the high rate of home foreclosure in Michigan
and other states. Many people signed off on mortgages
they can no longer afford, and owe more than they can
get for their homes on the current real estate market.
There is an alternative to letting the bank repossess
your house: A sale-leaseback transaction. More...
Real Estate Survey Projects Housing Legislation
Will Boost Sales
Some improvement is projected for existing-home sales
in the months ahead, with broader gains seen by the
fourth quarter as buyers take advantage of provisions
provided through the recently passed housing stimulus
bill, according to a forecast by the National Association
of Realtors. More...
SETTING
UP A COLLEGE BUDGET: If your son or daughter
is attending college this fall, it's time to set some
ground rules to keep their spending in check. On CBSNews.com,
Stephanie AuWerter, editor of SmartMoney.com, has some
tips for making a budget. Setting up a college budget
can be tricky. Depending on the location of your son
or daughter's school, everyday items like laundry detergent
or bottled water may cost a lot more than they do at
home. Those costs can add up. "Start with the school
financial aid office," says AuWerter. "They
should be able to give you some guidance." More...
KEY
JOBLESS FIGURE HITS 6-YEAR HIGH: The number
of newly laid off people signing up for jobless benefits
last week climbed to its highest point in more than
six years as companies cut back given the faltering
economy. The Labor Department reported Thursday that
new applications filed for unemployment insurance rose
by a seasonally adjusted 7,000 to 455,000 for the week
ending Aug. 2. The increase left claims at their highest
level since late March 2002. A program to locate people
eligible for jobless benefits played a role in the increase,
a Labor Department analyst said. However, the analyst
couldn't say how much of a role. More...
ECB,
BANK OF ENGLAND LEAVE RATES UNCHANGED: The
European Central Bank and the Bank of England left their
benchmark interest rates unchanged Thursday under conflicting
pressure from higher inflation and mounting concern
about growth. Speaking to reporters after the ECB left
its interest rate unchanged at 4.25 percent, ECB President
Jean-Claude Trichet warned that inflation which reached
4.1 percent in the euro zone in July would remain well
above its preferred level of about 2 percent for some
time. But he also acknowledged worries about growth
across the euro zone, an admission that helped push
the euro to a seven-week low against the dollar to $1.5353.
More...
VEHICLES MORE AFFORDABLE,
COMERICA SAYS: The
purchase of an average-priced new vehicle took 23.1
weeks of median family income in the second quarter,
according to the Auto Affordability Index compiled by
Comerica Bank. The latest reading is down 0.9 weeks
from the first quarter and 1.9 weeks compared to a year
ago. Including finance charges, the total cost of buying
an average-priced light vehicle was $27,704 in the second
quarter. Last quarter, it took fewer weeks of work to
purchase a new car than in any quarter since early 1980.More...
WORLDWIDE AUTOMOTIVE
REPORT PODCAST: General Motors is offering
more money to help Delphi out of bankruptcy. Ford set
to offer new buyouts at Dearborn Truck. The EPA says
it's not backing off on its ethanol plans.
YOUR
WEEKEND
THUNDER
OVER MICHIGAN: This event at Willow Run Airport
in Ypsilanti includes dozens of classic restored airplanes,
WWII Allied and Axis re-enactor displays and vehicles,
a flight simulator, aircraft tours and more. Meet members
of "The Greatest Generation" who served to
defend democracy, watch real World War II bombers buzz
the field and check out the heavy armored vehicle displays
on the ground. More...
AFRICAN
FESTIVAL : Travel to the far away lands of
Africa, without having to get out of town. The festival
features live entertainment, authentic African cuisine,
arts and crafts, and more. Saturday at the Detroit Zoo.
More...
IRISH
FESTIVAL : It's a weekend of Irish fun, food,
culture, dance and music. The opening ceremony includes
bagpipers, Dan McCarville and Chris Buryta with Irish
and American sing-a-longs, and Odd Enough. Friday through
Sunday at Freedom Hill County Park. 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.
VIDEO
CHAT SITE TOKBOX GETS $10 MILLION: Video phone
calls just haven't caught on like all those cinematic depictions
of the future said they would--kind of like flying cars.
But a bunch of investors led by Bain Capital Ventures still
believe. They've pumped a $10 million Series B round into
TokBox, a video chat and calling site based in San Francisco.
Existing investor Sequoia Capital also participated. TokBox
launched less than a year ago, but it has been working hard,
appointing Nick Triantos as CEO, releasing a light desktop
application based on Adobe AIR and building code to integrate
its video chat into Facebook Chat. More...
WITH
NEHALEM, INTEL'S NEAR FUTURE GETS REAL: Intel has
scores of futuristic, potentially game-changing research
projects but Nehalem is bet-the-farm reality. The first
Nehalem chips--and the first drops of what should become
a giant revenue stream--will arrive later this year. So,
it is not surprising that real silicon and real systems
are starting to appear. More...
'CYBERSECURITY
COMMISSION' TO PROFFER ADVICE TO NEXT PRESIDENT: Transitions
between presidential administrations are typically influence-peddling,
power-consolidating, appointee-vetting exercises run by
Washington insiders. Perhaps that's why the quintessential
Washington think tank, the Center for Strategic and International
Studies, is trying to insert itself into the process. The
private organization, which has close ties to the U.S. military
and counts Henry Kissinger on its payroll, has gathered
about 35 people and awarded them the official-sounding title
of "Commission on Cyber Security for the 44th Presidency."
Adding to the formality are some closed-to-the-public meetings
and ex-officio members from federal agencies, congressional
offices, and the nebulous "intelligence community."More...
All
contents copyright 2008 CBS Radio Inc. and its relevant
subsidiaries. CBS Radio & Eye logo trademarked and copyright
2008 CBS Broadcasting Inc. Used under license. All Rights
Reserved. Written and edited by Daily Dash Editor James
Melton. For coverage comments or news tips, e-mail James
Melton or call (248) 455-7248. For marketing and advertising
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or (248) 455-7252. To subscribe, e-mail Nancy
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Print Story
With
the average cost of a nursing-home stay running at around
$76,000 per person annually, it’s more important
than ever to look at long-term health care insurance.
You’ve
heard about the high rate of home foreclosure in Michigan
and other states. Many people signed off on mortgages
they can no longer afford, and owe more than they can
get for their homes on the current real estate market.
There is an alternative to letting the bank repossess
your house: A sale-leaseback transaction. 
