The Latest Business Headlines from WWJ Newsradio 950
Bing Close to Mayoral Bid | Pistons star turned industrialist Dave Bing says he's "very, very close" to formally announcing his run for Detroit mayor, The Detroit News reports. | Story
Small Biz Lending on Par | A study indicates when it comes to small-business lending, Michigan fares well compared with surrounding states, Crain's Detroit Business reports. | Story
Automaker Extends Vacation Rule | Chrysler has decided to keep its requirement that all workers take the same two-week summer vacation, The Canadian Press reports. | Story
Chrysler Plans Design Improvements | The automaker's new design chief promises to roll out new vehicles quickly, improve interiors and craft more aerodynamic bodies. | Story
Stem Cells, Pot Make Ballot | State ballot proposals for medical marijuana and embryonic stem cell research in Michigan appear to be set, the Detroit Free Press reports. | Story
Obama Leads McCain in Mich. |A new poll says Democrat Barack Obama has extended his lead over Republican John McCain in Michigan. | Story
Dow and S&P Up, Nasdaq Down | Blue-chip stocks closed higher Thursday, overcoming a surge in oil and a weakening dollar, but the Nasdaq trailed the other major averages. | Story
In the Market Brought to you by The Advanced Strategies Group
WORRIED ABOUT THE SAFETY OF YOUR BANK DEPOSITS? YOU DON’T HAVE TO BE
Most people have heard that the Federal Deposit Insurance Corp., or FDIC, guarantees deposits of $100,000 or less. But few people are aware that about 37 percent of domestic bank deposits are not insured by the FDIC.
The FDIC insures checking accounts, savings accounts and certificates of deposit. However, other financial products now being offered at banks – including mutual funds, annuities and life insurance – are not covered by the FDIC. But that is not, by itself, a reason to worry about the safety of those accounts.
It should be reassuring to know that most financial institutions remain sound – despite the recent failure of IndyMac Bank and the current troubles for several other big banks. Only 90 of the nation's nearly 8,500 banks and savings associations are currently on the FDIC's list of problem banks. More...
Buying a Second Home in a Sagging Market Can Be a Challenge
It’s a buyer’s market when it comes to real estate, so you’d think buying a second home would be a breeze. But that’s not always the case.
You may run into things like unpaid maintenance fees, hidden property damage and delayed closing dates. Sellers struggling to make mortgage payments also are often in arrears on property taxes and other obligations such as municipal permits for construction.
The seller's lender, for example, might agree to take a lower price, but refuse to pay the back taxes. Haggling over things like that can seriously drag out the time before closing. More...
INVESTOR SUPPORT FOR CLIMATE ACTION GROWS:Support for climate-change proposals may be growing among investors in big U.S. companies. Shareholder resolutions related to climate change more than doubled over the past five years, according to statistics gathered by a coalition of public interest groups, environmental organizations and pension funds. Moreover, the coalition, Boston-based Ceres, says support for those measures averaged more than 23 percent in 2008, a new high. While that's not enough to pass a resolution, Ceres contends rising vote totals compel companies to act, like a plan by Ford Motor Co. to reduce greenhouse gas emissions 30 percent by 2020. More...
ECONOMIC INDICATORS FELL SHARPLY IN JULY: A private-sector measure of the economy's health showed the largest drop in a year, and while new jobless claims fell for the second straight week, they remain near the highest levels since 2002. The reports are the latest evidence the American economy remains stuck in low gear. The New York-based Conference Board said its monthly forecast of future economic activity fell 0.7 percent in July. That was far more than the consensus estimate of a 0.2 percent decline by Wall Street economists surveyed by Thomson/IFR.More...
IN BACK TO SCHOOL, IT'S ECONOMICS 101: Consumers going back-to-school shopping are getting a crash course in economics. Higher gas and food prices are leaving little in their pockets for this year's school supplies, CBS News correspondent Sandra Hughes reports. According to a recent survey, 73 percent of parents say they'll be shopping at discount stores for everything from pencils and paper to clothing and electronics. More...
SPRUCE UP YOUR HOME FOR A QUICK SALE: If you're planning on putting your home on the market, consider fixing it first. Simple cosmetic changes don't cost very much and they can make a real difference to a buyer. For some tips, click here.
WORLDWIDE AUTOMOTIVE REPORT PODCAST: General Motors invests $500 million to retool for new small car. VW has unique minivan promotion. Chrysler sticks with summer shutdown.
YOUR WEEKEND
MICHIGAN STATE FAIR: It's Michigan's biggest party of the year. The state fair offers free concerts, daily parades, horse shows, agricultural displays, arts and crafts, racing pigs, dairy exhibits, carnival rides, games and more. More...
CASCADES CIVIL WAR MUSTER: The largest and longest running Civil War Era event in the Midwest includes calvary demonstrations, civilian impressions and authentic camp sites -- bringing to life the times of the original battle, fought between the Union and the Confederate armies in 1861. The CCWM is being held this weekend at Cascade Falls Park in Jackson. More...
THE DAY EVERYTHING WENT WRONG: Catastrophe strikes a small town, leaving only a handful of survivors. Playwright Malcolm Tulip has constructed a wild ride that provokes deep thoughts, big laughs and humankind's quest for “normality.” Shows run through Sept. 7 at Performance Network in Ann Arbor. 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.
A MATCHMAKER FOR CLASS-ACTION LAWSUITS: SueEasy.com is a simple Web application that connects people who have major and minor grievances in life with attorneys eager to file class action lawsuits for them. Like any good Web app, SueEasy is free, simple, and perhaps even effective.More...
APPLE CO-FOUNDER URGES ENGINEERS TO FOLLOW THEIR HEARTS: Steve Wozniak got his start as a down-to-earth engineer, but the Apple co-founder made the case for keeping your head in the clouds sometimes. In an on-stage interview with Tech Nation's Moira Gunn here at the Intel Developer Forum, Wozniak talked about a life driven by his passion for the electronics and computing. And passion can be a more important incentive than money, he said.More...
COPYRIGHT OWNERS MUST CONSIDER 'FAIR USE', JUDGE SAYS: A federal judge on Wednesday gave more weight to the concept of "fair use" when he threw a lifeline to a Pennsylvania mother's lawsuit against Universal Music. The judge refused to dismiss Stephanie Lenz's suit claiming that Universal abused the Digital Millennium Copyright Act when it issued a takedown notice to YouTube over a 30-second video of Lenz's baby dancing to a Prince song. More...
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Most people have heard that the Federal Deposit Insurance Corp., or FDIC, guarantees deposits of $100,000 or less. But few people are aware that about 37 percent of domestic bank deposits are not insured by the FDIC.
It’s a buyer’s market when it comes to real estate, so you’d think buying a second home would be a breeze. But that’s not always the case.
INVESTOR SUPPORT FOR CLIMATE ACTION GROWS: Support for climate-change proposals may be growing among investors in big U.S. companies. Shareholder resolutions related to climate change more than doubled over the past five years, according to statistics gathered by a coalition of public interest groups, environmental organizations and pension funds. Moreover, the coalition, Boston-based Ceres, says support for those measures averaged more than 23 percent in 2008, a new high. While that's not enough to pass a resolution, Ceres contends rising vote totals compel companies to act, like a plan by Ford Motor Co. to reduce greenhouse gas emissions 30 percent by 2020. 
MICHIGAN STATE FAIR: It's Michigan's biggest party of the year. The state fair offers free concerts, daily parades, horse shows, agricultural displays, arts and crafts, racing pigs, dairy exhibits, carnival rides, games and more. 
