The creditworthiness of U.S. banks is at risk because of problem in Europe, reports Bloomberg. Fitch Ratings said the fear of contagion is rising here – and could grow worse if a solution to the crisis isn’t reached soon. The country’s six biggest banks have $50 billion in risk tied to the troubled nations of […]
Churches are increasingly falling behind on mortgage payments – and increasingly facing foreclosure across the nation, said the Denver Post. Before 2008, there were only a handful of church foreclosures. That number jumped to 24 that year and was 67 in 2009. Read more at the Denver Post.
Foreclosure filings in Colorado’s urban counties were up slightly in February from the previous year, but auction sales were at a five-year low, according to the Denver Business Journal. Filings rose 3.7 percent in February from 2011 levels, but auction sales were down 6.7 percent from a year earlier. Read more at the Denver Business […]
The University of Colorado at Boulder is the only school in Colorado to make Times Higher Education list of best universities in the world. The Denver Business Journal is reporting that the latest listings place CU-Boulder at 77 out of 200 universities. The School of the Mines and Colorado State University made the “best of […]
Federal money normally used to train jobless workers for new fields is ending, as the economy improves, reports the New York Times. Across the country, work force centers that assist the unemployed are being asked to do more with less as federal funds dwindle for job training and related services. Read more at the New […]
Goldman Sachs and Morgan Stanley are considering a shift from fair-value accounting practices for some loans after losses this year, reports Bloomberg. The change to accounting at original costs would affect investment-grade commitments, the companies said. Morgan Stanley has $55.1 billion in investment-grade loans and Goldman has $51.6 billion. The decision has not yet been […]
The San Luis Valley A sprawling 6,200-acre solar complex is proposed for the San Luis Valley. Read more here.
In order to cut costs, Sears Holding Co., will close 62 stores in the first six months of 2012, according to Bloomberg News. The closings include 43 Sears Hometown stores, 10 Sears Hardware stores and nine The Great Indoors stores. Sears said last month it planned to raise as much as $770 million by selling […]
General Motors reported its largest annual profit in its history, even as European crisis dragged down fourth quarter profits, reports the New York Times. GM’s quarterly profit was $472 million, which is lower than the fourth quarter 2010. However, the company’s 2011 total profit was $7.6 billion, nearly all of it from North American sale.s […]
DocX, which provided foreclosure documents for banks nationwide, is facing forgery chargers in Missouri – one of the few cases where there have been criminal charges filed in widespread abuse of homeowners’ rights, reports the New York Times. A grand jury in Boone County, Mo., came back with 136 indictments against the company, alleging that […]
Colorado scored a D+ for the open government and ethics laws its enacted, according to the Grand Junction Daily Sentinel. the state ranked 33rd in the nation, but received the only D+ given by State Integrity Investigation, the first-of-its-kind database that examines all 50 states laws and regulations. Read more at the Grand Junction Daily […]
The 131-year-old film pioneer – once employing thousands – has filed for bankruptcy, according to the New York Times. The company has struggled for years to find a place in the world of digital cameras. But the company has only posted a single year of profits since 2004. Read more at the New York Times.