| It takes more green to fill grocery bags
They'll get some tax breaks, too. Businesses will be able to immediately write off 50 percent of purchases of plants and other capital equipment. Small businesses currently are able to take tax deductions on the first $125,000 they spend on new equipment, Marita said. That will be raised to $250,000. In both cases, the deduction eligibility likely will apply to this calendar year and not be retroactive, Marita said, because the government wants to encourage spending. Q: Since mortgages and foreclosures are a big part of the problem with the economy, how will homeowners be helped? A: The stimulus package includes changes in mortgage lending, including a one-year increase in Freddie Mac's and Fannie Mae's conforming loan limits (from $417,000 to a maximum of $729,750), and a permanent increase in the FHA loan limit from $367,000 now up to a maximum of $729,750.
Stocks are having a good run, but don’t be greedy
For the third quarter, nearly one out of five of the U.S. stock funds posted gains that were greater than 5 percent, based on the latest preliminary data from Morningstar Inc. About 62 percent of U.S. stock funds made some money for the quarter, according to Morningstar's data. Large-cap growth funds were up 6.19 percent on average from June 30 through Sept. 30, according to Lipper, a Reuters company. .
Consumer Worries Damp Stocks
Forget houses. Now Americans are cutting purchases of everything from burgers to diamond rings. Investors unloaded shares feverishly as their focus shifted from the mortgage debacle's effect on financial firms to the harm the crisis is exacting on the economy's other cogs, especially consumer spending. The Dow Jones Industrial Average ended down 246.79 points Friday, down 1.9%, at 12606.30, off 5% so far in 2008. American Express, a component of the average, tumbled by 10% after warning it will have to take a charge of $440 million before taxes in the fourth quarter to cover higher delinquencies and loan write-offs. .
ShackCast 28: Team Fortress 2 Changes, Battlefield Heroes, GTA4 Date ...
Steve, once again, had some kind of wacky emergency, this time involving his neighbor and a quick trip to the hospital.
As usual, this is all capped off with reader mail (including one from mr.sleepy!). Don't forget to send in your questions and comments about video games, the Shack, or the ShackCast to shackcast@shacknews.com! Duke Nukem Forever and its teaser dominated the news this week, and so it kicked off ShackCast 24, but there were plenty of other topics for Chris Remo, Steve Gibson, Chris Faylor and Nick Breckon--the announcement of Command and Conquer Tiberium (PC, PS3, Xbox 360), low sales of Unreal Tournament 3 and Crysis, Jerry Bruckheimer and his MTV-funded game studio, the possibility of a S.T.A.L.K.E.R. MMO, and more. As usual, this is all capped off with reader mail.
Key Receives 'Outstanding' Rating for Community Reinvestment Act ...
(CSRwire) For the fifth consecutive rating period, KeyBank National Association has received an "outstanding" rating for its Community Reinvestment Act (CRA) lending practices from the U.S. Office of the Comptroller of the Currency (OCC). This is the top rating on a four- category scale by the bank regulatory agency. The OCC cited that fewer than 10 percent of all bank-based financial services companies reviewed in the last two years received "outstanding" ratings. An even lower percentage of large, multi-state banks received the top rating, according to the OCC. This is the first rating period in which the OCC reviewed KeyBank as a single, nationwide banking unit. "I couldn't be more pleased that the OCC has recognized Key's commitment to the Community Reinvestment Act," said Jack Kopnisky, Retail Banking president.
|
