Did you hear about the recent surge of foreclosed properties? Ok, of course you have, but an interesting little note, the rich and famous aren't so immune of the unfortunate circumstances of the current market conditions (Ed McMahon fights foreclosure on Beverly Hills home, Reuters). KB Homes, builder extraordinaire, has also been affected by the turn of events in the last year or so, and posted two-thirds their expected earnings, leading them to revert to their older more humbler ways (Downsizing the American home, FORTUNE).
It appears that many companies are looking into buying their competitors out. Verizon in Talks to Buy Alltel for $27 Billion (CNBC) & Smucker to buy P&G's Folgers in $3 bln stock deal (Reuters). Hopefully Verizon can put an end to the wizard commercials Alltell bombards us with.
Mixed financial market for the day - Stocks wobble as financials weigh on sentiment (AP Business)
Dow -.10% ][ Nasdaq +.91% ][ S&P 500 -.03% ][ 10YrBond +1.08%
etcList
Subprime debacle may spark 2-year credit recession (Reuters) Mortgage brokers face industry upheaval (Reuters)
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