Archive for October, 2008

German discount grocer Aldi chooses site in Pantego

Aldi, the German-owned discount grocer that has announced it plans 25 stores in the Metroplex, has purchased nearly half of a Pantego shopping and office complex for one of its first locations. (33 mins ago)

Banks asking for credit card debt forgiveness

With defaults on credit card debt spiraling amid a global financial downturn, banks already reeling from the mortgage crisis are losing billions more from unpaid credit card bills. ? BLOG: South Bay business news (27 mins ago)

East Texas Financial Services, Inc. Announces Date of Annual Meeting of Stockholders

TYLER, Texas—-East Texas Financial Services, Inc. , the holding company for First Federal Bank Texas, today announced that the Company’s annual meeting of stockholders will be held at 2:00 p.m., local time, on January 28, 2009, at the Company’s office located at 1200 South Beckham Avenue, Tyler, Texas 75701. (6 mins ago)

Fed Spurs Record Surge in Longer-Term Commercial Paper Issuance

Oct. 28 — Sales of longer-term commercial paper soared 10-fold after the Federal Reserve began buying the corporate IOUs, a sign that the central bank’s efforts toward unlocking the market may be working. (3 mins ago)

Wal-Mart exec on downturn: This is our time

Wal-Mart Stores Inc., with its emphasis on low prices and improved merchandise, is stealing market share from competitors and is well-positioned for the holiday season, CEO and President Lee Scott told investors Monday. (6 mins ago)

All fall down

The common man has a lot to learn from the global financial turmoil. Srikumar Bondyopadhyay pens the lesson plan You may have never bought the bonds of Lehman Brothers or the shares of AIG, but your stocks get battered when these hallowed US financial institutions failed. (32 mins ago)

Banks pull squeeze play on credit cards

Companies cracking down, even on those with good credit, leaving customers to face interest rate leaps, lower credit limits and even canceled cards. (43 mins ago)

Bailout doesn’t curb all credit woes

N Problems with economy remain despite government action (33 mins ago)

Layaway message resurrected for holiday shoppers

CHICAGO — A payment method that became decidedly passe in the 1980s is being promoted again this holiday season as a way for budget-conscious shoppers to buy gifts without breaking the bank (4 mins ago)

Credit crunch hits campus

The credit crunch has officially arrived on campus.In a new survey, private colleges report their students are finding it significantly harder to secure the private loans they need to pay tuition bills. More alarmingly, nearly half of colleges say some students have been forced to take time off or go part-time as a result. (2 hours ago)