China Lighting International Corporation Says Domestic Sales Growth Spurred Significant Gains in Fiscal 2008 Revenues and Profits; Sales in China Increased 374% While Overseas Revenue Grew 83% Stated income.

JINHUA, CHINA -- (Marketwire) -- 12/30/08 -- CH Lighting International Corporation (OTCBB: CHHN), one of the world's greatest designers, manufacturers and exporters ofa all the way disparity of fluorescent lighting products and a matchless suite inChina in the in a trice growing individual faded commencement market, today reportedsignificant gains in sales and grille profit for its budgetary year endedSeptember 30, 2008. According to the Company, revenues in the year ended September 30, 2008increased to $90,864,000, from $32,379,000 in the year ended September 30,2007, a acquire of approximately 181%. Reflecting the Company's purpose toexpand its innovative, environmentally cordial lighting products in thedomestic Chinese market, sales in China grew 373.72% to $55,000,000compared with $13,077,000 in the late monetary year.

Over the same time,overseas proceeds increased more than 83% from $19,302,000 to $35,454,000. The flourish in plexus receipts in economic 2008 was dramatic, as it grew to$14,408,000 or $0.15 per parcel on 98,621,918 shares famed from$1,969,000 or $0.02 per split on 93,000,000 shares marvellous in theperiod ended September 30, 2007.

Comprehensive return in the duration ended September 30, 2008, reflectingforeign currency adjustments of $1,551,000 increased to $15,959,000compared with $2,389,000 in the whilom year period. Describing the Company's attitude for pecuniary 2009, Mr. Zhao Guosong,Chairman of the Board, President and Chief Executive Officer, stated, "Inlight of the putrid force of the wide-ranging pecuniary downturn, we have apessimistic and cheerful watch of the year ahead. In the worst case,while we have included the worldwide export make available downturn in ourplans, the speed, order and perspicacity of the decline is beyond the Company'sstrategy. In our expectant case, with the Chinese private Stock Exchange notimpacted by the broad budgetary downturn -- and with the Chinese governmentcontinuing to adhere to the reduction of intensity savings policy, then theCompany's execution compared with 2008 will become larger 15%.

" About the Company Based in Jinhua, China, CH Lighting International Corporation, founded in1994, is a diversified designer, industrialist and exporter of more than1,000 types of fluorescent lighting and consanguineous products. It is the leaderin China in environmentally simpatico curious lighting products such as AirCleaning Lamps, Power Saving Lamps and Plant Growth, Vision Improvement andPerformance Improvement Lighting Products. Additionally, its General LightProducts, which profit for approximately 8% of China's linear fluorescentlamp manufacturing, sign it the third largest fabricator of theseproducts in the country.

While exports of the Company's products around theworld perpetuate to issue rapidly, it is increasingly focused on domesticsales, encouraged and supported by regime policies aimed at reducingpower consumption and improving the environment. Additional productinformation is close by at http://chlighting.com. "Safe Harbor" Statement under the Private Securities Litigation Reform Actof 1995: This dirt manumit contains forward-looking statements within the drift ofthe Private Securities Litigation Reform Act of 1995.

These forward-lookingstatements are based on course expectations or beliefs, including, but notlimited to, statements in reference to the Company's operations, financialperformance and condition. For this purpose, statements that are notstatements of true event may be deemed to be forward-lookingstatements. The Company cautions that these statements by their natureinvolve risks and uncertainties, and realized results may deviate materiallydepending on a category of eminent factors, including, but not small to,the impression of competitive products, pricing and supplemental technology; changes inconsumer preferences and tastes; and effectiveness of marketing; changes inlaws and regulations; fluctuations in costs of production, and otherfactors as those discussed in the Company's reports filed with the U.S.Securities and Exchange Commission from convenience to time.

In addition, thecompany disclaims any promise to update any forward-looking statementsto evidence events or circumstances after the appointment hereof. No securities regulatory control has either approved or disapproved thecontents of this advice release.

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Open 2nd boulevard back up to through shipping and make the inland side of 2nd alley commercial storefront property. Stated revenue loan.

" Why does the urban area always think about they can make use of old factory buildings? Remember several years ago when we were told the prior limestone edifice by the lower dam was prosperous to be redeveloped? How'd that fashion out? Tear down the ENTIRE Reliant structure. Turn the riverfront into reservation land, connecting the two dams. Open 2nd lane back up to through above and arrange the inland side of 2nd avenue commercial storefront property.

I don't assume there are family out there interested in riverfront apartments or a museum in an ramshackle plating building. ".

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Antigua & Barbuda seeks $30 million allowance to suffer pecuniary crisis Income.

ST JOHN'S, Antigua - Antigua and Barbuda is seeking a $30 million credit from the Caribbean Development Bank to endure the universal economic crisis. Government spokesman Winston Henry says officials are finalizing plans to hypothecate the funds for infrastructure event and burglary creation. The domination will also gradient up unemployment benefits for those in the ailing tourism industry, which has ooze ruthlessly 200 jobs in latest weeks. Henry said Monday that Prime Minister Baldwin Spencer could fleetingly check income encumbrance payments for struggling islanders.

Income pressure nets the government up to $22 million annually. The twin-island power already was battling to manage inflation before the productive downturn.

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Antigua seeks $30M allowance to live through fiscal crisis Income.

Government spokesman Winston Henry says officials are finalizing plans to procure the funds for infrastructure increase and problem creation. The regulation will also ascent up unemployment benefits for those in the ailing tourism industry, which has flake heartlessly 200 jobs in brand-new weeks. Henry said Monday that Prime Minister Baldwin Spencer could briefly hold income burden payments for struggling islanders. Income strain nets the government up to $22 million annually.

The twin-island territory already was battling to steer inflation before the remunerative downturn.

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I will establishment with a timeline of events outstanding up to the realization of the "perfect storm" of the casing market bubble bursting, Stated takings loan.

This week, I scarper from our official format in order to point to on a bit of recent history and its junk on the real estate, credit, and monetary markets. I want to focus on some specifics in behest to decide what the important events and manifestations were and the cause and crap related to them. I will operate this input to manners an opinion on where I believe the furnish is headed and where the best opportunities are for us to profit wealthy forward. The important things to cynosure on are the concepts of leverage, the availability of credit, derivatives and their need of regulation, and the intertwined identity of today's fiscal markets.

I will start with a timeline of events unsurpassed up to the realization of the "perfect storm" of the accommodation market droplet bursting, financial markets rolling over, and belief markets numbing up. Long term readers certain that I place a lot of attention on Fed policy. In this judge of the past, I hope that readers dig why I place this emphasis. It is my contention that, while not omnipotent, Fed ways and means has enabled some of the largest benefit bubbles as well as caused significant swings in the valuation of the U.S. dollar.

The timeline below is an go to set the trump up for how the markets get there at where they are today. Housing Market Bubble Begins to Burst By past due 2005, signs of the U.S. enclosure peddle lid were coming into focus.

The plan below, supplied by the National Association of Realtors (NAR), unquestionably shows that by the end of 2005 lone blood home prices had topped. 2006 apothegm a swift fall from that precipice that has continued through today. Note that the fall-off in shelter prices precipitated the dilate in defaults in accommodation loans. Specifically, sub-prime loans and Alt-A accommodation default rates began to climb.

Alt-A loans were the loans made without requiring certification of income, etc. Both these loans tranquil very not any to no down payments for potential homeowners to undergo a mortgage. Many were also made as adjustable reproach mortgages which increased as the Fed raised incline rates.

Interest rates began to be raised in mid-2004 and the Fed didn't be over raising rates until mid-2006. It was self-evident that homeowners that didn't put anything down on oddity were not succeeding to be able to refinance out of the adjustable chew out loans they entered as container values were absolutely in turn down through the first half of 2006 while the Fed was still in approach of raising interest rates. Those credit payments were growing to increase within one to two years of the loans having been originated. Unless something radical happened to further the proceeds of those homeowners, many were going to default on their loans, which is what has happened. Bear Stearns Hedge Funds Collapse In July of 2007, rumors abounded that several hedge funds were in trouble.

Some of the rumors turned into truth as two Bear Stearns hedge funds collapsed. The Bear Stearns High-Grade Structured Credit Fund and the Bear Stearns High-Grade Structured Credit Enhanced Leveraged Fund collapsed due to ill bets on the subprime attribute market. These funds bought Collateralized Debt Obligations (CDOs) and Mortgage Backed Securities (MBSs) with borrowed paper money in regularity to leverage the returns. The models worn by these hedge funds didn't standing for a workable disintegration of case prices.

They counted on the continued spring up in haunt prices and that provoke rates would persist stable. Neither of these conditions was maintained. When the defaults by homeowners began, it caused the gain streams from these loans to break down so the sincere value of these securities dropped. The entities that loaned gelt to these funds became involved about the value of those securities and demanded more coin of the realm be put up.

To initiate the cash, the funds had to promote some of those assets. Other hedge funds expert of the Bear funds difficulty and began driving down the value of relish assets, causing them to stock more funds at further reduced prices and led to the evaporate of the funds. Bear Stearns did shoot $1.6B into the funds to insure passing liquidity, but it became a emergency of nerve and nothing could conserve the funds due to the leverage required to clothe the annual 1 to 2% direction fees and the 20% haircut on the profits made by the funds.

Bear Stearns Collapse On March 14th, JP Morgan Chase, in conjunction with the Federal Government, provided a 28-day allowance to Bear Stearns in orderliness to check the bazaar fall that would fruit if Bear Stearns became insolvent. Two day's later, JP Morgan Chase announced a consolidation with Bear Stearns via a variety swap at $2 per share. That bulk was later raised to $10 per split to dispersed the incense of Bear shareholders.

Recall that as recently as January 2007, shares of Bear Stearns traded at $172 per share. The Treasury lets Lehman Brothers go out On September 4th, 2008 rumors of Lehman's require of enough important appeared in print. Short sellers smelled blood and continued to drove the slice honorarium lower. On September 12th, the Fed called together bankers from the largest banks to judge how to set a bailout for Lehman Brothers.

The Fed insisted that it would not certain Lehman's debts so a cicisbeo would have to sham those liabilities. Bank of America balked at this because they were focused on acquiring Merrill Lynch. The other pre-eminent possibility was Barclays, the big UK bank. Barclas wanted a swear to from the cache so they could guide their revelation to difficulty advance securities.

When the Treasury refused to become that guarantee, a glimmer of yearning was still there that a deal could be had. Perhaps the consortium of banks brought together by the Fed could finance the deal. At the eleventh hour, the Financial Services Authority, the UK commensurate of the SEC, put the kybosh on the deal and Lehman was allowed to fail. On Monday, September 15th, the also-ran of Lehman brothers was made public.

In conjunction with that announcement, the getting of Merrill Lynch by Bank of America was also made public. The Dow dropped 504 (4.4%) points that daytime while the S&P-500 mystified 59 points (4.7%). That was the beginning of the unraveling of the equities markets.

Reaction of the Credit Markets How did the place one's faith markets conduct oneself to the near dissolution of Bear Stearns and to the anticipated bankruptcy of Lehman Brothers? Take a front at the Ted Spread to endure what happened to interbank lending rates. In looking at the tabulation of the TED Spread, it is palpable that esteem was cut-off essentially overnight as banks no longer trusted each other to return the favour loans and the payment of interbank lending skyrocketed. Clearly, the Fed's actions to forth liquidity have had the desired significance and rates are coming down. Before I arouse on to examine the unthinking situation, there is a trouble to forgive one more manifestation of Fed policies gone awry.

When the Fed decides to spur solvent pursuit by reducing infect rates, or they referee to end catch rates in uniformity to struggle inflation, their inaugural actions may have the desired sensation but may also furnish adverse consequences. The Fed was behind the dwelling fizz When U.S. equities markets began to diminish in 2000, the Alan Greenspan led Federal Reserve irrefutable to modify the Fed Funds rate.

In location of fact, the endorse apex in the S&P-500 was in March 2000. This was followed by a failed instant effort to capacity that true in September of the same year. From there, equities entered a two year while of spiralling crusade with alternating rallies in between. I have chosen to glance at the S&P-500 as the broadest list for equities, even though the most extraordinary losses were by the NASDAQ while the Dow Jones Industrial Average side-stepped most of those theatric losses. It seems apparent, in reviewing the diagram that the Greenspan Fed was typically last to the romp while the Bernanke Fed seems to be getting out in front.

I drag this conclusion from the Greenspan Fed making management changes and changing Fed Funds and gloss over rates after equities have signaled problems in the economy.

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The senator and her husband, ci-devant President , released takings tithe returns during her presidential offensive that showed the couple earned $109 million in eight years. Loan.

Dec. 22 (Bloomberg) -- formally the $13.2 million she lent her presidential campaign, closing a chapter on her failed chute for the White House and help luxury the route for her Senate confirmation as U.S. secretary of state.

Forgiving the allowance takes Clinton’s deprecating obligation off the books, a mark toward shutting down her presidential-campaign council as she prepares to become the crest U.S. diplomat. "If you’re growing to go into a determine feel attracted to that, you want to try to clear away whatever you can," said , a old broad counsel to the Federal Election Commission. Clinton started lending currency to her compete in January while competing in Iowa and New Hampshire as she tried to nurture tempo financially with , who was on his manner to raising more money than any prospect in history.

"It allowed her to delay alive in those final months when she exceptionally found her voice with the American public," said , a professor of record and sector affairs at Princeton University in New Jersey. "That, combined with time to come accomplishments at state, could be central in the fancy run to how the public and historians confabulate about her role in contemporary politics." Senator Clinton, a New York Democrat, also wrote off $77,900 in excite on the loan, according to a filing with the FEC on Dec. 20. Not Tax-Deductible Clinton, 61, had earlier said she didn’t look forward to be repaid.

The small change will now be considered a race contribution, which isn’t tax-deductible, FEC spokesman said. Nor can she knock off the scratch as a inferior accountability or as a job- hunting sacrifice because state campaigns don’t suitable under the toll code, said , fellow-worker dean of the University of Cincinnati principle school and editor of. Even after chirography off the loan and interest, she reported owing $6.4 million to vendors as of Nov. 30, including $5.4 million to previous leader strategist. That’s down from $7.5 million at the end of October.

She did above off her $200,000 encumbrance to spokesman and the $58,000 owed to media counsellor. Clinton spokesman declined comment. Legal Limit A 2002 campaign-finance axiom co-sponsored by Senator , Obama’s Republican struggle with in November, bars presidential candidates from raising percentage after the nominating conventions to bestow off in person loans greater than $250,000. Clinton continues to invite donations to settle vendors, however.

Vice President-elect sent out an e-mail earlier this month seeking donations, as did Clinton’s struggle committee. One solicitation over the esteem of her mother, , offered an autographed copy of a register about Clinton for a $250 contribution. The senator and her husband, last President , released receipts c scot returns during her presidential drive that showed the brace earned $109 million in eight years. Their annual gain rose to $20.4 million in 2007 from $420,000 in 1999.

Almost half the Clintons’ profit during those years, $51.9 million, came from the quondam president’s speeches. Releasing the Names The late president was also paid $29.6 million in royalties and an accelerate for his autobiography, and Senator Clinton received $10.1 million in volume royalties and advances.

Bill Clinton, 62, end week released the names of his foundation’s contributors, fulfilling one of the conditions he agreed to for his woman to take the secretary of federal nomination. He also agreed behind month to have the State Department investigate all tomorrow speeches and company endeavors. "She has made a disinfected separation with her federal ambitions, at least for now, just as her hoard has come chaste with his finances," said , a professor of ministry at Georgetown University in Washington. "My guess, however, is that when she leaves her State Department position, she will slow in the highlight and not starve." To association the news-hawk on this story: in Washington at.

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Sharell Butler. Teen charged in ferocious slayings is innocent, says a somber beget Today.

Fifteen-year-old Sharell Butler has been charged with two unmerciful murders, but the baby-faced associate is still her daddy's paltry girl. The teen's father, , defended her a date after she was arraigned for dismembering one manservant and dollop devastate another in a in holy matrimony of drug-related slayings. "[Our] families are devastated," Butler said Sunday. "I take oneself to be stark for the victims and their families.

" Asked whether his daughter was ingenuous of the crude slayings, the dad replied, "Yes, I would maintain so." Sharell Butler, a thin teen known on the roadway as Lady Red, was charged with murder, manslaughter and set in the annihilation of , adopted son of a family. Investigators credence in Butler and , 19, stabbed Drago 40 to 50 times as get even for for talking to cops about a stick-up that Pastore committed final year, constabulary sources said.

Drago, 22, who had a olden days of medicate arrests and was driven apart from his family, had not been reported missing. His mutilated body, stuffed into a soft bag, was found in a apartment Dec. 21. Butler was also charged with second-degree fratricide and burgling in a Dec. 19 habitation trespass that led to the fatal shooting of , a 24-year-old whom she and another mistrust had intended to rob.

As Umpierrie bled to death, Butler allegedly took his currency and marijuana, sources said. "We are very amok privilege now after what happened," said a number who identified herself as Umpierrie's grandmother alien his home. Detectives are investigating whether Butler is linked to other new drug-related killings. Butler, who is being held without bail, will be charged as an full-grown for both crimes.

Residents of Butler's apartment structure in were stunned at the flash that the on the face of it sisterly juvenile was responsible for two cold-blooded murders. "She's a passable kid," said one gal who refused to give her name. "I don't contemplate she could do that.".

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Kiss Midnight. 50 couples fold up in Times Square pre Today.

New York, December 28 (ANI): Fifty couples locked lips in the northern triangle of Times Square in New York City during a pre-New Year’’s kissing seminar. The seminar, promoting universal skin- and body-care make Nivea, had been a prelude to the big spoon at the pat of midnight on New Year’’s. The couples, which had been handed out unfasten lip-gloss, made reach after the consider down "5-4-3-2-1 Happy New Year," reports the New York Daily News. Kissing whiz Andrea Demirjian had graced the venue and advised the compress on lip-locking techniques to badge the bosom shake bringing in the year 2009. She said: "Abstaining is a honourable system to estimate the canoodle more special.

To positive you can"t brush someone makes you forestall it, for both untrained and previous couples." (ANI).

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Moody’s shorten ratings on portions of BlackRock Senior Income Series III collateralized credit obligation,

Dec. 23 (Bloomberg) -- A subsidize that invests in high-yield, high-risk loans may be headed for an conclusion of fault after responsibility prices tumbled, according to Moody’s Investors Service. Moody’s gash ratings on portions of BlackRock Senior Income Series III collateralized advance obligation, citing "deterioration in the superstore value of the underlying collateral pool.

" The business "may feel an result of default," that would drive New York-based BlackRock to handle loans to return the favour the notes, Moody’s said in a averral today. Loan prices have dropped 29 cents on the dollar this year to 65.8 cents, according to Standard & Poor’s LCD, as banks and resource managers have been false to over holdings because of clauses in borrowing agreements that ask them to mention wealth when prices repudiate below a set level. BlackRock asked investors, including the Oregon splendour benefit fund, to incarcerate more equitableness in October to a disconnected $3 billion repository after loan prices dropped.

The BlackRock Senior Income Series III pool is a buy and sell value collateralized allowance obligation that was raised in September 2006, according to Moody’s. A CLO is a breed of collateralized due obligation, an what-d'you-call-it that packages pools of accountability and splits it into pieces with various ratings. These ratings are derived from the prices of the underlying loans. Moody’s graded $257.2 million of notes in September 2006, including a $217.1 million hunk rated AAA.

There is an unrated $52 million tranche that is repaid after other noteholders.

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Despite Credit Crunch, Non Income loan.

Ways to Work, Inc., the Milwaukee-based affordable allowance and pecuniary course organization, has secured more than $16 million in young financing to trip its dilation across the political entity and more than double the size of its program network. The changed funding will appropriate Ways to Work to cater significantly more low-interest loans to working families at a tempo when affordable credit has less dried up for low-income borrowers.

Recipients of Ways to Work loans mostly use the funds to acquire reliable in use cars. Ways to Work has recently received noteworthy funding commitments from Prudential Financial, the Annie E. Casey Foundation, the Kresge Foundation, Bank of America, and Calvert Foundation; and has secured grants from The Philanthropic Collaborative, the U.S. Treasury Department’s CDFI Fund and the Federal Transit Administration’s Job Access and Reverse Commute (JARC) program.

Ways to Work provides affordable loans to “working poor” families who are tiring to start the ball rolling out of pauperism and found monetary permanence and self-sufficiency. Clients use the loans mainly to come by a motor car to facilitate them orbit or hoard righteousness jobs, adulterate down on lateness and absenteeism, look up their education, and muster their family’s needs, such as transporting children to youngster care, doctor’s appointments and form activities. “This experimental funding will help us to spur forward in expanding from our current 40 offices in 20 states to 110 program offices across the land by 2013.

With it, we can whereabouts so much more of the destitution that exists for this accommodating of affordable financing and support,” says Ways to Work Board Chair J. Hunter Atkins, who is president and CEO of the Bank of Nashville. “As we identification the tenth anniversary of Ways to Work, we are gratified by the reply we have received from our concealed and clear-cut sector partners.” Over the days 10 years, Ways to Work has loaned more than $33 million to more than 12,400 families, with a repayment upbraid of nearly 87 percent.

The regular Ways to Work shopper is a free mother, venerable 26 to 40 years old, with one or more children. Clients must be employed and tournament low-income standards, either dearth or have a scanty probity history, and be improper for a accommodation through a mainstream fiscal institution. They must crown a two-hour sitting with a loan counselor -- to happen a personal budget and reassessment their credit report -- with three hours of classroom economic education before they can be evaluated by a loan panel and approved for a loan. Ways to Work loans hold up an 8 percent portion rate and a two-year term, and are for a crest of $4,000.

The summit monthly payment is $182. Participants are required to suitable their monthly buggy payment and other car-related expenses into their descent budget. “Ways to Work provides affordable loans that are an choice to voracious lenders and it gives parents a real happen to build financial stability,” Atkins says. “It’s a index up -- not a man out.” Ways to Work credits three worst components for its success: extending affordable credence with real-world expectations for repayment, using a personalized, hands-on come nigh with clients, and requiring financial learning that helps clients emend steadfastness making and encourages them to unsoiled up poor credit histories and begin parsimonious for the future.

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Indiana State Police. WBBM scuttlebutt tranny is also the home for Chicago Bears, Chicago Auto Show and Chicago Air & Water Show. Today.

WBBM-AM 780 has been the harmonious all scandal boom box reveal in Chicagoland for over 35 years and is now streaming online for free. Listen online to Chicago newscast as it happens around the clock, along with Chicago traffic, Chicago weather, Chicago sports and Chicago business. Subscribe to WBBM's at liberty podcasts for additional Chicago subject and Chicago community reports and mind to Chicago information on demand. WBBM news broadcast broadcast is also the habitation for Chicago Bears, Chicago Auto Show and Chicago Air & Water Show.

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News In Brief: Help for primary Income loan.

Charlotte, N.C.-based Wachovia was fundamentally sold in October after a distressful action between two of the country's largest banks, as Citigroup and San Francisco-based Wells Fargo fought for its heavy set base.

Eventually Citigroup walked away from the deal after it and Wells Fargo failed to make a deal to rent up Wachovia. Nation Investor kills self over forfeiture to Madoff The break down of an investment subsidize that baffled $1.4 billion with Bernard Madoff was discovered unconditionally Tuesday after committing suicide at his Manhattan office, marking a ruthless hit the sack in a abuse that has communist investors around the world in financial ruin. Rene-Thierry Magon de la Villehuchet, 65, was found sitting at his desk at about 8 a.m. with both wrists slashed, NYPD spokesman Paul Browne said.

A chest cutter was found on the drub along with a nerve of sleeping pills on his desk. No suicide note was found. De la Villehuchet was one of several supply managers to be hit hard-headed in Madoff's purported $50 billion Ponzi scheme.

Investment funds that bygone big to Madoff are also front kickback and investor lawsuits for not protecting their clients from the stated fraud. It is not when known what species of examination de la Villehuchet was surface over his Madoff losses through his Access International Advisors, located on Madison Avenue a pair blocks from Rockefeller Center. De la Villehuchet was a raised investor who came from a extended vocation of aristocratic Frenchmen, with the Magon corner of his celebrity referring to one of France's most impressive families. Starbucks may end 401(k) unite Starbucks told employees it may not be able to resemble their contributions to 401(k) retirement accounts next year, to donjon costs down.

The epicure coffee tie said it will rod from analogous contributions at a secure rate and will instead conclude whether or not to match an employee's contributions. The Seattle players currently matches between 25 percent and 150 percent of the oldest 4 percent of workers' pay. The piece depends on how prolonged an worker has worked at the company.

Starbucks said it if does realize a equivalent next year, it may be at a different percentage than in 2008. A or slue of big companies have said they will discontinue temporarily their 401(k) matches for employees. FedEx, Motorola and Eastman Kodak. have said they will cease matches to employee-retirement plans.

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Net profit down at Butler's Actuant Stated loan.

A 30-year-old Clyman woman's transport was traveling southbound on State Highway 26 in Dodge County when her machine started sliding and was struck by a red pickup odds and ends traveling in the other direction. The grounding killed her and her and her 7-month-old son. Authorities released details this matutinal about the 6:05 a.m. foundering that killed the shelter and son.

Photos from investigators show the raise door of the woman's improper Oldsmobile was crushed. The overconfidence of the commodities was smashed as well. A 66-year-old gazabo from Watertown suffered non-life-threatening injuries and was enchanted to Watertown Memorial Hospital. The newborn was in a automobile seat, and both the lass and staff were wearing incumbency belts. Investigators are tiresome to find witnesses to the crash.

Anyone with data can call dow a appeal to the Dodge County Sheriffs Department at (920) 386-3726.

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Loan modification firms causing more problems for homeowners : Real Estate : The Rocky Mountain News Income.

A 5 duplicate probe on the BBB shows that this partnership receives a "F" and has it's charge allow revoked. Consumers should school themselves. I'm guessing the theme in this saga was refused many other options and grabbed hold of the gold kin who promised him the domain for $3K. That should have been a stamp there. People constraint to realize that if they are offered a deal so much better than the rest, they should do some check in to find out to make established it is what they think it is.

I'm commonplace of people not taking responsibility for their actions. This soul is in foreclosure because they are impotent to pay their mortgage. I have empathy for people who fall upon hard times, but it is not societies fault. This human over financed his quirk in the first deposit getting an appraisal for more than the property was worth.

If they in point of fact paid too much for the property, that is dumb. If they did not and weary the additional banknotes from the loan, that is even more dumb. Re-finance after re-finance continuing to augmentation their debt. Where is the boodle going? I be curious if they have a new car, flat telly TV or maybe took an singular vacation recently… The detective story says nothing about losing employment or falling on perseveringly times.

For me I speak with someone who has made conscience-stricken decision after bad decision. And they have just made another.

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White House Fires Back at Times Over Housing Meltdown Story Stated takings loan.

The White House is pushing back severe against a New York Times article that essentially blamed President Bush for the sub-prime mortgage can of worms and the Wall Street fail by linking those crises to a approach end he stated more than six years ago. That goal? "We want more kin owning their own home," as Bush said in December 2003. But a 5,000-word article in the Times on Sunday, under the headline, "White House Philosophy Stoked Mortgage Bonfire," said Bush was also encouraging a "hands-off approach" to ordinary that encouraged "lax" standards on behalf of lenders. "He pushed pragmatic to lengthen homeownership, especially amid minorities, an lead that dovetailed with his purpose to prolong the Republican tent -- and with the proprietorship interests of some of his biggest donors," the article said.

"That's about as myopic as you can get," White House spokesman Tony Fratto said in response. White House counselor Ed Gillespie lashed out at the Times for its elucidation of Bush's accommodation policies. "They've had to mortgage their edifice in Manhattan to worker urge ends meet, and they've been reduced to junk-bond status. I don't be versed if the New York Times' junky reporting is the denouement of being in junk-bond status, or if their junk-bond pre-eminence is what's resulting in their tinsel reporting," Gillespie said. In fact, the Times' article ignored a riches of its own reporting, dating back to the age of Bill Clinton, whom the article mentioned only once, in passing.

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Lenders that second-hand optimistic farm out estimates to grant mortgages beginning in 2005 opinion to lose as much as $23. Income loan.

Dec. 22 (Bloomberg) -- U.S. commercial properties at gamble of non-fulfilment could triple if rental profit from office, retail and apartment buildings drops by even 5 percent, a fitting odds given the recession, according to scrutinization by New York-based verifiable mansion analysts at Reis Inc. Lenders that Euphemistic pre-owned optimistic charter estimates to grant mortgages beginning in 2005 philosophy to lose as much as $23.1 billion, or 7.02 percent, of sum owing balances if landlords lose 5 percent of after deductions operating income, according to Reis.

Analysts examined evidence on 22,890 properties that together may significance for unsettled loans of about $329 billion in 2009, said , helmsman of research. Banks are at danger as commission vacancies are forecast to rise to 15.6 percent next year from an estimated 14.6 percent at the end of 2008. Lenders who sold commercial mortgage-backed securities to subsistence funds, investment banks and tramontane governments have been hit by more than $1 trillion in losses and strength writedowns connected to inconsolable residential loans.

"A heavy slant in effective operating revenue isn’t life-and-death to shift a lot of properties underlying CMBS loans into debt- appointment coverage ratios that would be worrisome," Calanog said in an interview. Unwarranted Optimism Over the closing three years, lenders raised return projections for commercial properties by as much as 15 percent more than those properties’ real performance, he said. "That optimism might not be warranted," Calanog said.

"There’s a big collection of loans underwritten in 2005 and 2006 coming due in 2010 and 2011 that I feel will wisdom a be upstanding in delinquencies and defaults." Loans from those years simulated substantial crop in rents, a layout that seems unbecoming as the decline deepens, Calanog said. The responsibility levels also reflected a deluge of credit, with a minute $600 billion of commercial mortgage-backed securities originated between 2005 and 2007, according to Green Street Advisors Inc. The annual clip in those three years was almost three times that originated in the pre-eminent five years of the decade and those loans now advantage for almost two-thirds of on-going CMBS, according to Green Street.

Economic Slump As acclaim became more available, capitalization rates, designed by dividing a property’s reticulum operating gain by the procure price, flatten to account lows. In some cases the rates cut to less than 5 percent, reflecting higher paraphernalia prices. Economists have the nation’s trade crash will be the longest since World War II as banks qualify credit, core and forerunner values pitch and bother losses mount. The or slue of Americans filing first-time applications for benefits reached a 26-year squiffy of 575,000 in the week ended Dec. 6, according to the Labor Department. U.S. retail sales knock for a fifth consecutive month in November in the longest ligament of declines since recordkeeping began in 1992, according to the Commerce Department.

The province losses and log declivity in territory values have shaken consumer confidence. Green Street said Oct. 3 its study also indicates a likely enhancement in commercial defaults.

"The prime of calculating for commercial legal land has been delayed, not dodged, and the tarry means that markets for commercial material estate will remain discombobulated dream of after conditions have improved elsewhere," wrote , maestro of fact-finding of Green Street in Newport Beach, California. Defaults Rising Reis estimates at least 353 properties, or 1.5 percent of the downright tally analyzed, could downfall into neglect as take home operating income, mainly from rent, not quite clears loan payments.

Properties at jeopardize include those with net operating takings less than 1.1 times their credit payment, Calanog said. That "base case" translates to $9.08 billion of voluntary balances, or 2.76 percent of the amount dollar value first-rate on the mortgages.

If the make operating receipts estimates cast-off to make the loans were to fall by 5 percent across the board, the due surplus at risk would rise to $23.1 billion, or 7.02 percent of the total, Reis found. A 10 percent fall off in proceeds would motivate up the sliver of at-risk loans to $82.3 billion, or 25 percent of the dollar-a-year balance, said Calanog.

More Help? The Promenade Shops at Dos Lagos, a retail plan in the Riverside-San Bernardino-Ontario locality in Southern California, has been on Reis’s take care of lean and was transferred to a exclusive servicer wear November. Even a erection with a large, sure tenant in midtown Manhattan might be at risk, Calanog said. The biggest estate developers in the U.S. are asking to be included in the federal government’s efforts to jumpstart commercial lending, said , president of the Washington-based Real Estate Roundtable.

The serve could come through a recent $200 billion accommodation program established to backing the market-place for motor car loans, learner loans and credit-card debt, or through a withdrawn pot that would cede to property owners to refinance mortgages, DeBoer said in an interview. The troupe represents means owners, developers, lenders and directors companies. To with the photojournalist on this story: Hui-yong Yu in Seattle at.

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Washington Federal Declares $0.05 Cash Dividend Stated revenue loan.

SEATTLE, WA -- 12/22/08 -- The Board of Directors of Washington Federal, Inc. (NASDAQ: WFSL), well-spring associates of Washington Federal Savings, today announced a three-monthly notes dividend of 5 cents per share. The dividend will be owed January 16, 2009 to universal stockholders of evidence on January 2, 2009. This will be Washington Federal's 104th consecutive four times a year hard cash dividend.

This loot dividend of 5 cents per ration represents a falling off of 16 cents or 76% compared to the 21 cents per slice paid by the Company in October 2008. The ruling to slim the legal tender dividend results pre-eminently from significantly higher reliability costs due to continued deterioration in the non-specific restraint and the houses market. For the put up ended December 31, 2008, the attendance expects to minute a supplying for advance losses of approximately $35 million and believes that unconditional non-performing assets will be approximately $300 million or 2.43% of outright assets. At 5 cents per share, the dividend is expected to be less than one-half of bag profit in the forgiveness ending December 31st, in keeping with our placidity of managing the payout correspondence to 50% of stipend or less in the long term. Chairman, President & CEO Roy M. Whitehead stated that, "Reducing the lolly dividend is a contrary but prudential conclusiveness in the widely known environment of uncertainty.

In our view, comprehensive economic conditions are more conceivable to worsen than to improve in the near-term. We envisage non-performing assets and credit losses to continue at a relatively huge level for the balance of the fiscal year and unheard of loan demand to diminish. Retaining more savings within the Company will specify additional flexibility for dealing with these recessionary issues and succour us to maintain productive operations. As always, the Company remains financially sound and very well capitalized.

" Washington Federal Savings operates 149 offices in Washington, Oregon, Idaho, Utah, Nevada, Arizona, Texas and New Mexico. Established in 1917, the Company provides residential sincere state loans, commercial earnest demesne financing, consumer drop accounts and point banking. The Company reported $11.8 billion in assets, $7.2 billion in deposits and $1.3 billion in stockholders' equitableness as of September 30, 2008.

Important Cautionary Statements Washington Federal will detonation its comprehensive fourth direction results during the week of January 19, 2009. The Company expects demand conditions to linger explosive during the unused days of December and therefore existing fourth accommodate results could be dissimilar in the long run from the word go phase expectation provided above. The preceding information should be read in conjunction with the fiscal statements, notes and other report contained in the Company's 2008 Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.

Statements contained herein that are not verifiable facts should be considered forward-looking statements with detail to Washington Federal. Forward-looking statements of this ilk utter in only as of the go steady of this report. By nature, forward-looking statements mean innate danger and uncertainties.

Various factors, including, but not small to, undreamed of local, regional, country-wide or pandemic events, economic conditions, benefit quality, interest rates, allowance demand, changes in topic or consumer spending, borrowing or savings habits, place growth, adequacy of the book for loan losses, competition, precursor price volatility, oversight monetary and economic policy, anticipated detriment levels, changes in laws and regulations, the unfluctuating of success of the company's asset/liability administration strategies as well as its marketing, upshot development, sales and other strategies, the significance of changes in accounting policies and practices, as may be adopted by the regulatory agencies as well as the Financial Accounting Standards Board and other accounting stock setters, the costs and possessions of legal remedy and of unexpected or adverse outcomes in such litigation, and changes in the assumptions Euphemistic pre-owned in making the forward-looking statements, could cause verifiable results to distinct palpably from those contemplated by the forward-looking statements. Washington Federal undertakes no compulsion to update or modify forward-looking statements to disclose resultant circumstances, events or communication or for any other reason.

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Power Rankings Week. Even stumble turns pet for surprising Falcons 122308 Today.

FLOWERY BRANCH, Ga. - Matt Ryan's biggest false step of the period turned into a touchdown in Sunday's first over the Minnesota Vikings. It's been that well-intentioned of condition for the rookie quarterback and the Atlanta Falcons, who clinched a playoff place with their 24-17 conquest at Minnesota.

Ryan's gaffe came as he was stiff out of the crater and tried to reckoning on a second-down horseplay from the Vikings' 5 in the third quarter. Ryan went airborne, his feet flipping over his head, and he fumbled near the ideal line. Falcons socialist bashibazouk Justin Blalock said he didn't spot the fumble. Even so, Blalock alertly dived into the packet and recovered the ball in the end belt for the touchdown that basically clinched a effective turnaround for the surprising team. It was a appropriate "Look what I found" tender-hearted of frisk for one of the league's biggest surprise stories of the year. From 4-12 in 2007, the Falcons are 10-5.

The band has made the playoffs with its rookie quarterback and first-year mentor Mike Smith, and it would bring home the bacon the NFC South and be worthy of a first-round bye if it beats St. Louis on Sunday in Atlanta and Carolina loses at New Orleans. If the Falcons glean and the Panthers lose, they would each finale the occasion at 11-5.

The Falcons would get the tiebreaker based on their 8-4 seminar record, which would be one devil-may-care better than Carolina's 7-5 mark. Blalock's big rival gave Atlanta a 24-7 leading lady and proved to be the victorious vocal score when the Vikings rallied with 10 points in the fourth quarter. Blalock said he cringed as he adage Ryan take a crack at to runabout himself over the ambition line.

"I was thinking, 'No, don't do it! Slide!'" Blalock said. "As I epigram him winning off, I wanted to be around in cover the ball pops up. It just so happened the ball did stick out out. A infinitesimal scrum again and lo and note I came up with it." It was the subsequent unalloyed week Blalock recovered a bungle by Ryan.

Blalock insists no precise thank-you from Ryan is necessary. "It's factor of my pain to be around the ball and assay to guard the ball carriers whenever I have the chance," Blalock said. "It goes without saying.

" Smith managed a snigger on Monday when asked if there will be a unique "no airborne" regulate for Ryan, a skilful learner. Smith, repellent coordinator Mike Mularkey and quarterbacks teacher Bill Musgrave already have emphasized this most recent example to Ryan. "We talked about it," Smith said.

"I be aware Mike and Matt talked about it, and I be familiar with that Bill and Matt talked about it - but we'll conceal those private." Said Ryan on Sunday: "I can't be making those mistakes as we come down the line. It's something you have to be instructed in from, but I am under obligation for Justin.

" Smith said Blalock was in viewpoint because he hustled on the play. "That's two weeks in a rank Justin has made big plays by tournament to the football," Smith said. "That's something we harangue all the patch to our football team.

When the ball drayman is tackled, if you're not carrying the ball, you requirement to be around the fleece in example something happens." Smith only smiled when told Blalock hinted he was continuous to the end precinct unambiguously to advertise a touchdown. "That's limited of it, too, when it's in the end zone," Smith said. No one concern the Falcons could give back to the playoffs only one year after disgraced quarterback Michael Vick was sent to federal prison, convicted of funding a dogfighting operation.

New everyday director Thomas Dimitroff and Smith cleaned house, releasing or trading such veterans as Warrick Dunn, Rod Coleman, Alge Crumpler and DeAngelo Hall. Smith paused on Monday when asked if he believed before the mellow a playoff berth was possible. "I planning it was a possibility, but I didn't put a unharmed lot of goats in it," Smith said. "As the opportunity progressed it became patent to me in the modus vivendi this federation was falling out in wins and losses, I bit if we could get to December and be even that we'd have a chance." Losses by Dallas on Saturday and Tampa Bay and Carolina on Sunday helped cover the street for the Falcons to finalize sew up the playoff spot.

Now comes the steer for the first-round bye. The Falcons, 6-1 at the Georgia Dome, will be favored Sunday against the 2-13 Rams. The Saints will be playing the Panthers at the same tempo in New Orleans. There is more goal for Falcons' fans to prospect for a first-round bye: No NFC South gang has bygone at severely against a frontier contestant this season.

"I assume the guys will be up for the challenge," Smith said. "They cognizant of if we be occupied well and get the bottom line we desire, there's a lot out there (in the playoff standings) that can change. "There's still a lot that's prospering to modification in how this tourney is put together," Smith added.

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MuniMae Announces Sale of Agency Business. Stated return loan.

MuniMae announced today an treaty to exchange its Agency allowance operations to Oak Grove Commercial Mortgage, LLC, a newly formed subsidiary of Mud Duck Equities LLC. The two percentage action consists of a $10 million bond accommodation from Oak Grove, accompanied by an Acquisition Agreement pursuant to which Oak Grove will buy the business. Upon closing of the sale, MuniMae will pull down $23.5 million in a array of moolah and vindication of the advance and, in addition, will endure two series of dividend paying preferred interests in Oak Grove having a combined hero volume of $47 million (subject to reduction of a lump of the preferred interests under some circumstances).

MuniMae's Agency province consists of the underwriting and origination of affordable container and shop merit multifamily apartment undertaking loans that are sold to or insured or guaranteed by the government-sponsored enterprises Fannie Mae, Freddie Mac and supervision agencies HUD/FHA. MuniMae originates and, in most cases, sells the loans to these agencies, and remains tied up as the credit servicer, for which MuniMae is paid a servicing fee. The loan from Oak Grove was funded on December 18, 2008. Completion of the rummage sale negotiation is national to a or slue of conditions, including leave by the government-sponsored agencies to which MuniMae sells, or which insure the loans it originates in this orientation of its business.

Total MuniMae Agency loan originations in the primary three quarters of 2008 were $875 million up from $625 million in the same days in 2007. Michael F. Falcone, Chief Executive Officer stated, "This garage sale is an worthy business for MuniMae as it provides us with working savings in this sensitive operating environment." Third Quarter 2008 Production Third neighbourhood 2008 making (debt and disinterestedness originations) was $349 million, compared to $754 million in the former year period, due first of all to the import of the continual disruption in the initial markets on our businesses and the Company's steadfastness to abridge traffic activities.

Production in MMA Financial, the Company's affordable shield business, included approximately $29 million in strain recognition right-mindedness placements, compared to $81 million in the whilom year space and $99 million of stable loan originations, compared with $39 million in the ex year period. MMA Realty Capital oeuvre included approximately $120 million in activity originations and approximately $80 million in non-agency originations, compared to $152 million and $259 million, respectively, in the late year period. Production in the Company's MMA Renewable Ventures constituent was $21 million, compared to $44 million in the 2007 period. Mr. Falcone stated, "Our forming numbers with to throw back the darned intricate operating environment.

As a consequence of these conditions, we resume to mark off our role activities, reserve our resources and scrutinize crucial alternatives." Consistent with its one-time two quarters and the straits to take care of capital, the Company will remain the deferment of its quarterly dividend for the third quadrature of 2008. Strategic Alternatives & Asset Sales On June 26, 2008, MuniMae announced that it was preoccupied in evaluating principal alternatives for the Company. In joining to today's bulletin of an compatibility to sell the Agency business, the Company continues to be in discussions with concealed buyers for other trade units.

There is no faith that this process will development in any transactions. MuniMae continues to be in rhythmic contact with its lenders regarding its borrowings and hold accountable support agreements. While the Company's lenders have been cooperative, as in days of yore announced, some lenders have been circumspect to formally renounce various covenants in their agreements relating to the expression of audited financial statements.

The Company's washout to bear these statements constitutes a default on several loan arrangements which could assign the affected lenders to bid some of these loans. As fragment of its broader business strategy operating forward, the company stated it will split away from non-core business operations. The Company announced it is exiting the monitory business, although its connection venture, International Housing Solutions, will extend to accord advisory services to institutional investors. In conjunction with exiting the hortatory business, the Company delivered discontinuation notices to particular of its advisory clients and was terminated by other consultive clients.

The Company also intends to slenderize its third bust-up loan brokerage business, in particular, its California operations, which the Company does not judgement as being notes to its business plan. Mr. Falcone stated, "As wish as the paramount markets tarry constrained, we will not pursue the continuation of negligible businesses. Our primary core will be capital conservation and liquidity until a more rational market begins to emerge, which may be quite some time.

" Update on Restatement The Company believes it is culmination to completing and releasing its audited consolidated economic statements of MuniMae and subsidiaries, including consolidated stability sheets as of December 31, 2006 and 2005, and the correlated consolidated proclamation of operations, full income, shareholders' even-handedness and lolly flows for each of the years in the three-year era ended December 31, 2006. These pecuniary statements contain the impression of the Company's restatement for the years ended December 2005 and 2004 as well as the cumulative consequences on shareholder impartiality through December 31, 2005. As neck of the woods of the continuing financial statement organization and accounting processes, the Company is implementing significant changes in its point and accounting practices and policies.

The Company also announced that it is now drift in its monetary reporting as it relates to its more significant every inch owned subsidiaries, including MuniMae TE Bond Subsidiary, LLC and its MMA Mortgage Investment Corporation. About MuniMae MuniMae and its subsidiaries determine accountability and equitableness financing for developers and owners of valid belongings and uncontaminated vigour projects. Assets under management as of September 30, 2008 exceeded $20.4 billion including investments in over 3,000 properties, containing about 328,000 units in 49 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands.

MuniMae is organized as a restricted accountability company, which allows it to ally the reduced liability, governance and command characteristics of a corporation with the pass-through duty features of a partnership. MuniMae also conducts activities through root and branch owned taxable corporate subsidiaries. This Report contains hurry looking statements intended to moderate for the secured harbor contained in Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements often comprise words such as "may," "will," "should," "anticipate," "estimate," "expect," "project," "intend," "plan," "believe," "seek," "would," "could," and like words or are made in association with discussions of time to come operating or fiscal performance.

Forward-looking statements send our management's expectations at the epoch of this Report apropos to be to come conditions, events or results. They are not guarantees of unborn performance. By their nature, forward-looking statements are vassal to risks and uncertainties. Our current results and financial inure may be separate seriously from what is anticipated in the forward-looking statements.

There are many factors that could cause realized conditions, events or results to distinct from those anticipated by the forward-looking statements contained in this Report. They number changes in make available conditions that sway the willingness of possible investors or lenders to purchase fair-mindedness of, or loan to, funds we form, changes in customer base conditions that stir the value or marketability of assets we own, changes in retail conditions or other factors that alter our access to spondulix we requirement to bump into our commitments to other persons, changes in participation rates or other conditions that pretend the value of mortgage loans we, or funds we manage, have made, changes in dispose rates, weight laws, environmental laws or other conditions that sham the value of the truthful manor underlying mortgage loans we, or funds we manage, own, changes in levy a tax laws or other things beyond our command that attack the impost benefits within reach to investors in high-mindedness funds we form or would relish to form, or changes in technology that act upon the value of renewable energy projects in which we and funds we formed have judiciousness investments. Readers are cautioned not to status undue dependence on forward-looking statements. We have not undertaken to update any forward-looking statements in this Report. MUNIMAE: INTEGRITY. INNOVATION. SERVICE.

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Another bank teeters on miscarriage Stated income.

Officials with the holding retinue for BankUnited said they have to be defeated at least $327 million in the aware quarter and desperately scarcity to raise cash to survive. Financial conditions are so unsatisfactory at BankUnited that officials were unqualified to submit a monetary year-end report to the Securities and Exchange Commission. "Continuing adverse furnish conditions and the complication of accounting and disclosure issues has increased the paucity for additional evaluation and analysis of our business including, without limitation, regulatory issues, liquidity and capital," officials with BankUnited Financial Corp. wrote the SEC on Dec. 16. Officials with the bank's holding corporation said they are working to recruit head and are under regulatory peacefulness to do so.

BankUnited officials in their disclosure to the SEC said negotiations are underway with a supply to farm capital, If those negotiations are vain "there is successful anxiety about our adeptness to continue as a going concern," bank officials wrote. Like many other banks in Florida, BankUnited owes its economic teach to overaggressive lending in the state's booming existent place market, which hit its tip around 2006. Forty-three percent of BankUnited's residential loans were made to borrowers who entirely had to testify what their proceeds was, according to the bank's every three months filing with the SEC in October.

The pursuit is referred to in the industry as no-documentation or "no-doc" loans. For another 9 percent of the bank's residential loans, there was no receipts or talent verification, stated or otherwise, according to the filing. As of March, BankUnited's non-performing loans totaled $682 million, compared to $208 million in September of 2007. BankUnited, based in Coral Gables, is the largest Florida-headquartered bank and had $14 billion in assets as of June. Shares of BankUnited, founded in 1984, have dealings on the Nasdaq return under the flag BKUNA.

In the gone year, the customary has gone from $8 to 24 cents a share. BankUnited has a subsidiary in Bradenton and two in Sarasota, according to its Web site. The bank has more than 80 branches in 13 Florida counties, its place states. Brian Neill, Herald enterprise reporter, can be reached at 748-0411, ext. 2120.

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BFS Entertainment & Multimedia Limited Announces Second Quarter Results Stated income.

RICHMOND HILL, ONTARIO, Dec 19, 2008 (MARKET WIRE via COMTEX) ----BFS Entertainment & Multimedia Limited (TSX VENTURE: BFS) of Richmond Hill, Ontario announces its unaudited consolidated monetary and operating results for the aide-de-camp locale ended November 1, 2008. Sales for the initially six months were $4,737,836 compared to $4,630,256 stay year, a 2% increase. Net and encompassing return for the gold six months was $27,644 ($0.00 per share) compared to $150,504 ($0.02 per share) for the same days aftermost year.

Sales for the duplicate area were $2,770,740 compared to $2,679,554 during the same section hold out year, a 3% increase. Net and sweeping gain for the minute forgiveness was $184,797 ($0.02 per share) compared to $93,794 ($0.01 per share) in the same location terminating year. Denis B.E. Donnelly, President and CEO stated, "In rancour of the deepening U.S. downturn and pandemic pecuniary crisis, we have been best-selling in maintaining our interest base.

As the womanhood of our customers are in the U.S., the new weakening Canadian dollar against the United States dollar will have a well-disposed burden on our sales. Our green marketing initiatives are progressing as anticipated and we are secure that they will have a practical influence on 2009 revenues and take in the jiffy half of the year.

" ----------------------------------------------------------------------- ----- ----------------------------------------------------------------- ----------- FINANCIAL HIGHLIGHTS (unaudited and not reviewed by Twenty-six Twenty-six Thirteen Thirteen an auditor) Weeks Ended Weeks Ended Weeks Ended Weeks Ended Nov. 1, 2008 Nov. 3, 2007 Nov. 1, 2008 Nov. 3, 2007 ---------------------------------------------------------------------------- Sales $ 4,737,836 $ 4,630,256 $ 2,770,740 $ 2,679,554 Income before receipts taxes 49,920 246,448 284,957 144,868 Income taxes 22,276 95,944 100,160 51,074 Net and encyclopaedic revenue 27,644 150,504 184,797 93,794 Basic and diluted proceeds per cut $ 0.00 $ 0.02 $ 0.02 $ 0.01 ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- BFS is a recognised unrestrained maker and distributor of residency video with intelligence berth in Toronto, Ontario and sales duty in Los Angeles, California.

BFS acquires upper-class rights to movie and video programming for snug harbor video allotment and disseminate where applicable. Distribution rights are obtained by license, possession and co-production from various undecided moving picture and goggle-box programme companies. These programming rights are developed into profoundly video products for North American allocation and where applicable, are licensed internationally.

Programming includes prototypical dramas, mystery, comedy, sports, documentaries and well-being and wellness and is sold under the BFS Video, American Home Treasures and Bodhi Lifestyle(TM) brands. North American division is through federal retailers, distributors, correspondence for companies and BFSAE honest to consumer division. BFSAE procedure is to maintain to come by experimental programming and to open its proprietary set development, supranational circulation and call the shots to consumer electronic delivery.

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One of them is the hard-money lenders, who contribute strictly on the heart of the collateral. Stated income.

Like all disasters, the monetary emergency has its share of beneficiaries who c from it. One of them is the hard-money lenders, who impart strictly on the foundation of the collateral. These non-institutional lenders want a lot less paperwork than institutions because they don't gall about whether or not borrowers can afford the payments, or whether or not they are creditworthy. They don't dog with income, calling or credit reports. If borrowers can't pay, the hard-money lenders get their medium of exchange back through foreclosure.

They typically order 30 to 35 percent down to transform safe that there is enough judiciousness available to cover foreclosure expenses. Interest rates are much higher than those charged by institutions, and terms are short. The earliest mortgage lenders of the 19th century were focused reservation on the collateral. Of necessity, they were hard-money lenders. There was no velocity to chronicle anyone's gain in those days, and ascribe reporting had not yet emerged.

Over the decades, advance underwriting increasingly came to call the duty of borrowers to return their mortgage as indicated mainly by their incomes affiliated to their expenses, and their willingness to recompense as indicated by their credence record. Rules apropos how both the the goods and willingness to pay had to be documented came to top many pages of underwriting manuals. As collateral became less important, down-payment requirements declined, and in many cases disappeared entirely. Hard-money lending today is thus a throwback to the cycle before the power and willingness of mortgage borrowers to restore became noted parts of accommodation underwriting.

The fiscal calamity has been good for hard-money lenders because it has made loans with less-than-complete documentation of proceeds and assets very awkward to gain from institutional lenders. Here is a modern example. "I bought my durable residence for $300,000 in 2005, paid all cash, but now I want $80,000 to pass repairs and can't view a loan. I live off the return from other properties that I own, but I show very midget income on my tax returns because most of it is shielded by depreciation and animate costs - None of the lenders I have approached will give me a loan." Before the crisis, this borrower would have had no obstacle decree a "stated-income loan," message one where the borrower stated his revenue but was not required to corroborate it.

Indeed, the stated-income credit was designed to observe the needs of exactly this exemplar of borrower. The interest gauge would have been only 0.25 to 0.5 percent higher than the estimate on a fully documented loan.

But as underwriting rules loosened during the go-go years 2000-2006, stated-income loans came to be called "liars' loans" because they were so often reach-me-down to be fit borrowers for mortgages they could not afford. The reason was that rising almshouse prices would suffer them to refinance to a moderate rank later on, or if necessary, to dispose of the house at a profit. Instead of reflecting genuine takings that could not be documented, stated income often reflected profit that did not exist. As the economic crisis emerged and foreclosures mounted, antipathy against liars' loans grew.

The kink took hold, all regulators, legislators and even many allowance providers that every mortgage borrower should be required to record his or her ability to repay the mortgage. While to my expertise none of the attempts to pass this rule into law were successful, the market's effect to the crisis has done the job for them. Stated-income loans have become difficile or illogical to obtain from institutional lenders. So I had no preferred but to advise the letter-writer to catch a hard-money lender.

The be entitled to premium, relative to the rate of a documented loan from an institutional lender, will be much higher than 0.25 to 0.5 percent.

As biased consolation, there are a lot of them - when I entered "Pennsylvania hard-money lenders" in Google, more than 400 entries came up. Hard-money loans should be less clear to snitch on because their rates don't pep around from light of day to day, as they do in the institutional market. I don't have any be familiar with with this market, however, and readers who have captivated loans from hard-money lenders are invited to let me recollect how they did.

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Airport. City Hall gave hallmark owners something ribald and something punctilious Thursday. Today.

For all of 2008's great styles, there were wealth of pitfalls, ahem, Anna Wintour, Colbie Caillet, Madonna and Co…. Multimillionaire pitchers CC Sabathia and A.J. Burnett tried their creative pinstripe jerseys on for range at Yankee Stadium.

An x-ray of a Chinese schoolboy's skull shows a 16-inch arrow, which by a whisker missed Liu Cheong's brain. City Hall gave riches owners something ungovernable and something charming Thursday. Stars find agreeable Alex Rodriguez and Chloe Sevigny are flying South for the winter and aren't rueful to nude some epidermis in winter…. Katie Holmes loves daughter Suri, conserve Tom Cruise and … Home Depot? Brandon Jacobs not being in the lineup hurts more than not having Plaxico Burress, because of the stirring pungency he brings to the Giants.

Former President Bill Clinton's bountiful organization has raked in more than $40 million from Saudi Arabia and other nations.

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Bradley International Airport considering fewer flights, passengers Today.

Travelers mould their progress through the strongest security checkpoint at Bradley International Airport in Windsor Locks. Photo by Bob Child / Associated Press Connecticut Gov. M. Jodi Rell announces in Hartford, Tuesday, that wind traveller care will take up again from Bradley International Airport to Amsterdam, starting in June 2009. Delta Airlines will demand the post five times weekly.

Looking on is Connecticut Department of Transportation Commissioner Joseph Marie. By JIM KINNEY Business pen-pusher WINDSOR LOCKS - What goes up must come down, or so it's been present with most things in the curtness these days. It's also been straightforwardly at Bradley International Airport, which is since fewer passengers - and, as a result, fewer flights with smaller aircraft - as the airline perseverance adjusts to a uncharted marketplace.

But Bradley will presumption the unfamiliar year on a aged note, having announced this week that Northwest Airlines will rebuild five-day-a-week serving to Amsterdam after having discontinued it in October when fossil prices spiked. By year's end, add commuter bulk at Bradley will capitulate 6 percent to 6.2 million, down from 6.5 million passengers in 2007, said Kiran Jain, pilot of marketing and unfolding at Bradley.

She based the prognosis on monthly voyager totals and estimates for the months of November and December. "That's in furrow with what's incident around the country," said Jeffrey L. Schultes, airport administrator. Passenger numbers at Bradley declined in 2007 as well.

In that year, numbers strike down 5.6 percent compared with 6.9 million in 2006, according to the airport's annual report. In November, about 540,000 commoners got on or off planes at Bradley, about even with hold out year.

Nationally, house-trained carriers are estimating an 11 percent decline in passengers for 2008, Jain said. "So we are doing better than some parts of the country," she said. "This is a honourableness market.

" Despite the tear in passengers, Bradley remains the second-busiest airport in New England behind Logan International Airport in Boston, serving travelers from as far away as New Jersey, Jain said. There are an estimated 4.7 million travelers living within a 90-mile radius of Bradley. Schultes said travelers opt Bradley over larger airports, such as New York's John F. Kennedy International or Boston's Logan International, because they want to reserve themselves the hassle of driving through a big city.

"Also, we're not a heart so there is less congestion once you get to the airport," he said. "It's smaller and easier to deal with." The digit of to hand seats on airlines flying out of Bradley dropped 13 percent this year, figures in keeping with airline cutbacks around the country, Jain said.

Freight waiting has also been down at Bradley. In September, the most new month available, airlines handled 11,750 pounds of shipload at Bradley, about 10 percent less than the 13,172 pounds handled in September of 2007. Bradley has seen its own split of airline departures in terms of cutbacks.

In the nearby year, Frontier Airlines, which has filed for Chapter 11 bankruptcy protection, eliminated a ordinary exodus from Bradley to Denver and Delta eliminated four-day-a-week serve to Los Angeles, Bradley's only unending skein to the West Coast. Northwest eliminated its Amsterdam servicing in October teeth of flights over the start and summer that were reported meet at near capacity. The blamed the superior fetch of fuel. "It was all the wish hauls," Schultes said. "Those were the routes that were the most overpriced to soar once incite prices went up.

" Jain said flights that the airlines are keeping - even helpful runs between Bradley and airline hubs - now have smaller aircraft in direction to room and board costs down. As a result, flights out of Bradley this fete time will undoubtedly be 90 percent full, Jain said. Nationwide, a look at by the American Automobile Association showed that 7 percent fewer plebeians planned to hurry over the Thanksgiving holiday, according to Sandra J. Marsian, sinfulness president for marketing at AAA Pioneer Valley.

And, the veer is expected to prolong over Christmas, she said. "That's different because Thanksgiving is a metre of year when community lean not to lop back. They have to go and be with family," she said.

"We had a lot more hoi polloi driving and using other modes of transportation get a kick out of Amtrak or the bus." Travel by all modes was off by just 1.4 percent this Thanksgiving, she said. The reduction in flights and the use of smaller aircraft are prompting travelers with AAA to ticket their flights out of Bradley earlier, Marsian said.

Not only to seize a cheaper along but because they revere being seal out of a precisely flight. "Our customers are apprised there aren't as many flights," she said. And the swing might continue.

The Wall Street Journal reported endure week that Delta plans to addition 8 percent to 10 percent of its indigenous flights in the coming year. Southwest plans to repair its servant checking by 4 percent to 5 percent. David E. Downs, regional sales superintendent for Northwest Airlines, said native flights are getting hit harder than or oecumenic ones.

The airlines' supranational concern is growing, he said. Jain said Bradley and the airline business as a unimpaired saying almost identical overhaul cutbacks in the track of the insurgent attacks of Sept. 11, 2001. Bradley was able to get those flights and seats back quickly, she said.

Bradley stands a amazing inadvertent of reclaiming some of the flights as the airline labour shakes out, Schultes said. The bailiwick has a worthy coalesce of issue travelers and vacationers who will remain to fly, he said. Business travelers volume up to date and a score elevated fares, he said, but there aren't enough of them, and they disposed to take wing less in summer and near holidays.

Vacationers offer quantity to caulk that gap, he said. But they mite pennies, booking prehistoric to get a gain viands and gobbling up any mark-down offered by the airlines. Northwest is merging with Delta Airlines. While the two airlines don't have overlapping assignment at Bradley, there have already been impacts from the merger.

The union has resulted in the wasting of 74 jobs at Worldwide Flight Services. Worldwide occupied to give dirt services to Northwest, but those jobs are now done by Delta employees. Delta carries 22.8 percent of the flights in and out of Bradley while Northwest has about 10 percent. Allan W. Blair, president and CEO of the Western Massachusetts Economic Development Corp., said restoring the Northwest use to Amsterdam was a big superiority for his agency.

"It gives better access to our region," he said. The bevy helped bring in Socaplast, a Belgian plastics recycler, to the Solutia feature in Springfield. Socaplast knackered $3.4 million and created 15 full-time jobs when it opened in May.

All told, Bradley represents 18,000 full-time jobs and $1.2 billion in by the year wages, Jain said. One instrument is up, though. Concession sales increased 1.7 percent year-to-date from $6.43 drained on ordinary per soul in 2007 to $6.45 used up per man this year, according to airport statistics. Jim Kinney can be reached at.

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