Archive for December 17th, 2008

A refinancing rush as interest rates come down (AP)

Written by on Wednesday, December 17th, 2008 in Latest News.

A financial professional points at a television screen as the news of Federal Reserve's rate cut is announced on the floor of the New York Stock Exchange in New York City. The US Federal Reserve slashed its base lending rate to virtually zero Tuesday while pledging to take further actions to get credit flowing and revive an economy in the worst recession in decades.(AFP/Getty Images/Chris Hondros)AP – Tony Jabon had an e-mail in to his mortgage broker by 10 a.m. The 35-year-ancient environmental consultant in Charlotte, N.C., had heard about the Federal Reserve’s choice to cut its key interest rate to nearly zero and wanted to refinance to something lower than 5.5 percent.

Original post by AP and software by Elliott Back

Chrysler, Ford idle factories; GM delays new plant (AP)

Written by on Wednesday, December 17th, 2008 in Latest News.

In this Sept. 12, 2008 file photo, assembly line robots weld the front cab of Chrysler's new 2009 Dodge Ram pickup being assembled at the Warren Truck Plant in Warren, Mich. Chrysler LLC on Wednesday, Dec. 17, 2008 said it would extend its holiday for an additional three weeks to adjust production with slowing demand and conserve cash. The move affects all 30 manufacturing plants. Operations will be idled at the end of the Friday, Dec. 19th shift. the earliest plants will reopen is Jan. 19, 2009. A few plants will reopen on Jan. 26. (AP Photo/Carlos Osorio, file)AP – Chrysler announced Wednesday it is closing all its North American manufacturing plants for at least a month, the starkest go taken by U.S. automakers as they nervously await word about government loans.

Original post by AP and software by Elliott Back

NFL record-setter Slingin’ Sammy Baugh dies (AP)

Written by on Wednesday, December 17th, 2008 in Latest News.

In this Dec. 15, 1936 file photo, Sammy Baugh, backfield star of Texas Christian University, is demonstrating his sidestepping ability in Dallas. Baugh, who set numerous passing records with the Washington Redskins in an era when NFL teams were running most every down, died Wednesday night, Dec. 17, 2008 his son said.  Baugh, who was 94 and had numerous health issues, died at Fisher County Hospital in Rotan, Texas, David Baugh said. (AP Photo/JFL, File)AP – Slingin’ Sammy Baugh, the ultimate three-way threat who revolutionized the use of the forward pass as a Hall of Fame quarterback for the Washington Redskins, died Wednesday night. He was 94.

Original post by AP and software by Elliott Back



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