KOLO - Business

Unemployment Hits 10.2%, Highest in 26 Years
Employers shed 190,000 jobs over the past month.
Watchdog: Taxpayers Likely to See Profit From Govt. Bank Help
Congressional Oversight Panel: Fees from govt. guarantees will bring profits.
Wife No. 2 Paying for Wife No. 1? Join the Club
Massachusetts' 2nd Wives Club lobbies to change rules on alimony payments.
Ford's Airbags for Backseat Passengers
The airbags will appear first in the company's next general Ford Explorer.
'Let's Get Ready to Rumble' Catchphrase Scores Big
Sports announcer Michael Buffer has built his lucrative career on five words.
Forget MP3: The New Ways to Steal Music
MP3s are being replaced by formats with better sound quality.
Walmart: Nobody Will Lose Job With H1N1
New report suggests policy could contribute to spread of H1N1 virus.
Wall St. Before Main St. in H1N1 Vaccine?
Reports that businesses were among groups getting vaccine has some crying foul.
Year After Election: Obama vs. the Economy
Since the election, public opinion has not moved on the big issue, the economy.
House Follows Senate in Passing Unemployment and Housing Credit Extensions
The House passed a bill extending unemployment benefits.

GM to Cut 21,000 US Factory Jobs, Shed Pontiac
Last Updated: 7:46 AM 04/27/09 - General Motors Corp. said it will cut 21,000 U.S. factory jobs by next year, phase out its storied Pontiac brand and ask the government to take company stock in exchange for half GM's government debt as part of a major restructuring effort needed to get more government aid. Click for Full Story

Business News
	Retail Sales Fall 1.5 Percent in September Be the first to comment! Last Updated: 6:41 AM 10/14/09 - Retail sales declined in September by the largest amount this year as car sales plummeted following the end of the government's popular Cash for Clunkers program. (Full Story)
	Bank of America & JPMorgan Overhaul Overdraft Fees Be the first to comment! Last Updated: 4:16 AM 09/23/09 - As lawmakers prepare to implement sweeping credit card reforms, Bank of America Corp. and JPMorgan Chase & Co. are moving to overhaul overdraft fees and practices that have been criticized industrywide as excessive and harmful to consumers. (Full Story)
	Fed: Consumers cut debt by Record $21.6 Billion in July Last Updated: 12:39 PM 09/08/09 - The Federal Reserve says consumers slashed losses and uncertainty about the economic recovery prompted Americans to rein in their debt. (Full Story)
	Hidden Charges on Your Phone Bill 6 Comments Last Updated: 8:47 AM 07/25/09 - Imagine opening your phone bill to find charges of $40.00 or more for something completely unrelated to your phone service. That’s what happened to Sparks resident Lillian Johansen. AT&T is her service provider for cable, internet, and television. As a senior on a fixed income, she hoped the package deal would help her save money. Instead, she was shocked to discover charges on her bill from companies she didn't recognize. (Full Story)
	Aces Helping Reno Economy During Downturn Be the first to comment! Last Updated: 1:24 PM 07/14/09 - The Reno Aces are now officially halfway through the first season in their new ballpark. So far, despite a struggling economy many small businesses in the downtown corridor say they are seeing an increase in foot traffic on game days. (Full Story)
	Kodak is taking Kodachrome away Be the first to comment! Last Updated: 5:52 AM 06/22/09 - The Eastman Kodak Co. announced Monday it's retiring its most senior film because of declining customer demand in an increasingly digital age. (Full Story)
	Obama Outlines Plan to Help GM Survive 1 Comment Last Updated: 9:30 AM 06/01/09 - President Barack Obama pushed General Motors Corp. into bankruptcy on Monday and said it was part of a "viable achievable plan that will give this iconic company a chance to rise again." (Full Story)
	Mortgage Delinquencies hit Record High in Q1 Be the first to comment! Last Updated: 4:14 PM 05/28/09 - A record 12 percent of homeowners with a mortgage are behind on their payments or in foreclosure as the housing crisis spreads to borrowers with good credit. And the wave of foreclosures isn't expected to crest until the end of next year, the Mortgage Bankers Association said Thursday. (Full Story)
	Toys R Us acquires high-end retailer FAO Schwarz Be the first to comment! Last Updated: 1:26 AM 05/28/09 - Toys R Us Inc. says it has purchased FAO Schwarz, one of the nation's oldest toy retailers. (Full Story)
	Fresno Businessman, Accused in Ponzi, Kills Self Be the first to comment! Last Updated: 1:15 PM 05/18/09 - Investigators say 1,200 people could be out up to $138 million, victims of what they described as a Ponzi scheme. (Full Story)
More Headlines

Grim Milestone: Jobless Rate Tops 10%
The jobless rate jumped to 10.2% in October, the first time above 10% since the early 1980s. A total of 15.7 million Americans are out of work.
G-20 Sets Timetable for Assessments
Finance officials from the G-20 nations agreed on a detailed timetable for assessing each others' policies with the aim of rebalancing the global economy.
Executives Express Caution on Hiring
Business executives aren't budging much from their defensive crouch and could be slow to hire in the months ahead, interviews and a review of conference calls suggest.
Treasury Blocks Fannie Tax Credit Sale
The Treasury blocked Fannie Mae's proposed sale of $3 billion in housing tax credits to Goldman Sachs and Berkshire Hathaway.
Employers Turn to Temporary Help
One bright spot of Friday's gloomy jobs report was the surge in temporary hires. Companies are hiring more temps with plans to convert them into full-time workers if economic conditions improve.
U.S. Sees Productivity Gain
The productivity of U.S. workers surged in the third quarter, as the economy resumed growing even as employers pushed forward with layoffs.
Job Losses Cloud Agenda for Obama
Obama said his economic team was examining additional infrastructure spending, energy incentives, business tax cuts and other measures to spur job creation.
Retail Sales Improve Slightly
Retailers posted mixed October sales ahead of the holiday season. Discounters and a few high-end stores saw improvement, while sales at teen chains were weaker than expected.
Mandelson Urges EU to Revamp Economy
The EU needs to reshape its budget and redesign state-aid rules to focus on strategic, high-growth sectors, U.K. Business Secretary Peter Mandelson is expected to say Friday.
RBA Raises Growth Forecasts
The Reserve Bank of Australia lifted its medium-term forecasts for inflation and economic growth and said that a further gradual withdrawal of monetary stimulus would likely be needed.

Hedge-Fund Giant Surfaces in Trading Probe
The widening probe of insider trading on Wall Street is expected to examine transactions at Steven A. Cohen's SAC, one of America's largest and most successful hedge funds.
Bankers Cool on Rusal IPO
A $2.5 billion IPO by aluminum firm Rusal will be one of the year's hottest deals. But some banks are cool toward working with its founder, Oleg Deripaska.
Treasury Blocks Fannie Tax Credit Sale
The Treasury blocked Fannie Mae's proposed sale of $3 billion in housing tax credits to Goldman Sachs and Berkshire Hathaway.
Freddie to Request Further Handouts
Freddie Mac posted a loss of $6.3 billion and said it expected to ask for more handouts from the Treasury.
Berkshire's 'Green' Bets
Buffett's MidAmerican Energy is building windmills and investing in high-tech batteries in one of the biggest pushes by a regulated utility in alternative energy.
Grim Milestone: Jobless Rate Tops 10%
The jobless rate jumped to 10.2% in October, the first time above 10% since the early 1980s. A total of 15.7 million Americans are out of work.
Bank Failures Hit 120 for the Year
U.S. regulators closed five more banks, reaching 120 for the year, as souring loans and the lingering effects of last year's financial crisis continued to weigh on the nation's financial institutions.
California May Limit Placement Agents
California's state controller and treasurer are drafting legislation that could curb pay for financial middlemen, whose fees have sparked an internal investigation at giant public pension fund Calpers.
Tax Refunds, Relief for Builders
The new tax break for businesses signed into law on Friday will result in a windfall valued at hundreds of millions of dollars for the biggest home builders.
GM Advances Opel Restructuring
GM marketing chief Robert Lutz will be installed to head Opel's supervisory board as the U.S. auto maker pursues a restructuring of its European operations.