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Low-cost Coverage In Obama Health Tactic Not For All

April 16th, 2010

Insurance

Starting in July, a special high-risk pool will offer coverage to uninsured people with pre-existing health conditions at a cost similar to what everyone else pays. Its the first test of whether the administration can deliver on Obamas vision within the budget Congress set.
But some vulnerable patients are probably going to feel a little cheated. Consider this coverage wrinkle:
Suppose your cancer is in remission. You had to quit your job while you were having chemotherapy, and your employer coverage ran out. You cant find a private insurer wholl take you, but youre lucky to live in a state that has - - - - >



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Pickers Want Fla. Chain to Pay More For Tomatoes

April 16th, 2010

Farm

The Coalition of Immokalee Workers will kick off a three-day march Friday to try to persuade the Florida-based supermarket chain to pay more for its tomatoes and to take a stand against abusive work conditions in the fields.
The 22-mile march begins in downtown Tampa and ends Sunday in Lakeland at Publix headquarters. This isnt the first time the group has railed against Publix, one of the countrys largest regional supermarket chains. A protest in central Florida in December drew some 500 people. The group is also urging a boycott against Publix.
Publix said in a statement Thursday that “the CIWs complaints - - - - >



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New Tax Breaks Cause Confusion, Enforcement Issues

April 15th, 2010

Credit

As of March 5, the IRS erroneously gave out $24.2 million in Making Work Pay tax credits, according to the report by J. Russell George, the Treasury inspector general for tax administration. The IRS issued a total of $25 billion worth of the credits during the period, for an error rate of less than one-tenth of 1 percent.
The IRS also erroneously issued about $4.7 million in tax credits meant for people who bought plug-in electric cars. The new tax breaks were enacted as part of the massive economic recovery package passed last year.
“Our report concludes that the IRS is having - - - - >



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Lexus Gx 460 Rated Do Not Buy, Toyota Halts Transaction

April 14th, 2010

Consumer | ,

Toyota said Tuesday it had asked dealers to temporarily suspend sales of the SUV while it conducts its own tests on the GX 460. About 6,000 GX 460s from the 2010 model year have been sold since the vehicle went on sale in late December, and an estimated 1,600 of the SUVs are at dealerships.
The carmaker issued the temporary “stop sale” within hours after the popular consumer magazine raised the handling problem. It reflects Toyotas attempt to respond more quickly to safety concerns after being castigated by the federal government for dragging its feet on recalls to address faulty gas - - - - >



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Meat, Poultry Industries Await New Antitrust Rules

April 14th, 2010

Farm

Activists, farmers and meat industry officials have been anxiously awaiting the new rules, which will be released this spring for public comment and are set to take effect this summer. The regulations are seen as a kind of litmus test for the Obama administration and how far it will go in regulating competition in the meat industry.
At issue is how much power farmers have as they produce cattle, hogs and chickens for large companies such as JBS SA, Smithfield Farms and Tyson Foods. The new rules will govern how meatpackers buy their cattle on an open market and what demands - - - - >



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Fed Boss Has Bittersweet Message On Recovery, Jobs

April 14th, 2010

Economy | ,

Bernankes out-of-the box thinking during the 2008 financial crisis helped prevent the Great Recession from turning into the second Great Depression. Now, however, the Fed chief faces the delicate task of making sure the recovery lasts well after massive government stimulus fades later this year.
To foster the recovery, Bernanke and other Fed officials have repeatedly pledged to hold interest rates at record lows for an “extended period.” The hope is that low rates will entice people and businesses to spend more, generating enough economic activity to help keep the recovery going.
But Bernanke is likely to warn again that the pace - - - - >



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Top Ex-wamu Executives Come Before Congress

April 13th, 2010

Loan

Their testimony follows an 18-month investigation by a Senate panel that found fraud throughout the banks lending operations and failure by management to stem the deception despite internal probes.
WaMus pay system rewarded loan officers for the volume and speed of the subprime mortgage loans they closed on. Extra bonuses even went to loan officers who overcharged borrowers on their loans or levied stiff penalties for prepayment, according to the report being released by the investigative panel of the Senate Homeland Security and Governmental Affairs Committee.
Testifying at a hearing of the subcommittee Tuesday are former Washington Mutual CEO Kerry Killinger, ex-President - - - - >



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New Media Recognized In Pulitzer Competition

April 13th, 2010

News

But they were joined for the first time by a trio of new media publications that scored unprecedented recognition in a competition long dominated by newspapers.
On Monday, judges awarded the nonprofit ProPublica, in collaboration with The New York Times Magazine, a Pulitzer in investigative reporting for a 13,000-word story on the life-and-death decisions made by New Orleans doctors during Hurricane Katrina.
“It is a validation,” said Stephen Engelberg, managing editor for the more than two-year-old ProPublica thats based in Manhattan and has only 32 employees. “To be recognized by your peers is an honor and it sort of says to the - - - - >



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Homeowners Making Sacrifices In Hard Economy

April 13th, 2010

Invest

Homeowners who have fallen on financial hard times have made other sacrifices and lifestyle changes: About a third have downsized to a smaller home or delayed expanding their family as planned.
And, a quarter of homeowners who want to sell their current home and buy another say they need to make the move in order to lower their monthly expenses due to financial problems.
The survey, conducted for Move Inc., found wide-ranging concerns about the financial condition of homeowners in a challenging economy, but also unearthed evidence of increased demand among investors in residential real estate.
“Concerns around employment and their overall economic - - - - >



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Adb: Asia Economies Rebound, Need to Adjust Strategy

April 13th, 2010

Financial

China is forecast to grow by 9.6 percent, after last years 8.7 percent expansion almost singlehandedly lifted the regions overall growth to 5.9 percent, offsetting weakness elsewhere. Another powerhouse, India, is projected to see growth rise to 8.2 percent from last years 7.2 percent.
Five Southeast Asian economies that contracted last year - Malaysia, Singapore, Thailand, Cambodia and Brunei - also are set to return to growth, together with Hong Kong, Mongolia and Taiwan, the bank said in its economic outlook.
In 2011, GDP growth across the region is seen easing back to 7.3 percent.
Investment is expected to remain strong and private - - - - >



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