Wednesday, November 5, 2008

Business: HUD selling foreclosed homes for $1

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Crescent Moon in Decatur.

3344 Peachtree stands tall
My Opinion
Thomas Oliver: The capitulation of capitalism is complete.

Some foreclosed houses being sold for a dollar
It'is a given that in a slumping market home prices are going to decline. But $1 for a house intown? Apparently, even the huge U.S. Department of Housing and Urban Development can grow exasperated trying to sell a single home. So sometimes it dangles the offer of a buck.

Coke, bottling company plan to ease friction
Coca-Cola Co. and Coca-Cola Enterprises, Coke's largest bottler, likely will reach an agreement by the end of the year that could create a supply chain management company, according to Morgan Stanley analyst Bill Pecoriello. The two companies have been in frequent talks on how to address problems in North America.

Sovereign a regal addition to Atlanta skyline
The developers of 3344 Peachtree, the tallest new building in Atlanta in 16 years, could not have picked a more inhospitable year to open. Project financing is virtually non-existent. Banks are failing. Bankruptcy filings are at record levels. And condo sales are as infrequent as the rain.
Photos

Georgia manufacturing, new orders down
Georgia production has hit the skids, dropping in October to its worst level since the lowest point of the 2001 recession, according to the monthly survey by Kennesaw State. The index compiled by the school's Econometric Center fell to 34 last month, a drop of 5.6 points from September and 15.6 points since July.

Delta, Northwest employees to work with Habitat
It may take two years for Delta Air Lines to complete its takeover of Northwest Airlines, but company do-gooders are already moving to work together. Fifty-eight volunteers from Delta and 12 from Northwest will fly to Chile Friday to work on houses with Habitat for Humanity.

Obama to inherit feeble economy awash in red ink
To the victor goes the mess. Barack Obama's presidential election victory comes with an albatross of a prize - an economy beset by a stubborn housing slump and the worst financial crisis in 70 years. Consumers and businesses are sharply reducing their spending and the government is awash in red ink.
Obama victory helps unions, auto companies
In-flight, and stuck with a seatmate's politics

Stocks dive after Tuesday rally
Wall Street prepared to cash in some of the previous session's big gains Wednesday, focusing on the weak economy after Barack Obama's election to the White House.

GAO: Feds could speed up oil drilling
The government isn't doing enough to expedite drilling in federal waters and on public lands, according to a new report from congressional investigators.

U.S. News will become a monthly magazine
News magazines have struggled in recent years, and U.S. News & World Report has been especially troubled, making deep staff cuts and trailing far behind Time and Newsweek in circulation and advertising. 

Detroit revives a hotel and some hope
Late last month, in what seemed like a civic catharsis, 700 people gathered to celebrate a $200 million restoration that transformed the long-shuttered Book Cadillac hotel into a showcase of luxury lodging, housing, dining and entertainment.

Like a billboard, but, oh, so sleek
One of the biggest and fanciest shopping malls in Europe opened in London last week in a test of British consumers' ability to keep spending during a steep downturn.

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