Category Archives: Lose

Tax gap: IRS comes up $385 billion short

By doris | Published: January 7, 2012

Full Story at money.cnn.com NEW YORK (CNNMoney) — Close to 15% of federal taxes — or $385 billion — went unpaid in 2006, according to new estimates by the IRS. That’s the net tax gap number — meaning what didn’t get paid even after the $65 billion the IRS managed to collect through audits. And [...]

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Shoplifters taking bigger piece of holiday pie

By doris | Published: December 24, 2011

Full Story at msnbc.com More than spirits are being lifted this holiday season. During the four weeks leading up to Christmas this year, an estimated $1.8 billion in merchandise will be shoplifted from U.S. retailers, according to The Global Retail Theft Barometer, a survey of retailers worldwide. That’s up about 6 percent from $1.7 billion [...]

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States where the most unemployed could lose benefits

By doris | Published: December 8, 2011

Full Story at BottomLine .msnb.msn.com Nearly 2 million Americans currently receiving unemployment benefits stand to lose coverage this January if Congress does not extend the emergency federal unemployment insurance program. 24/7 Wall St. has reviewed a study by the National Employment Law Project to identify the ten states where the most people could lose benefits. [...]

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AIG posts $4.1 billion loss

By doris | Published: November 3, 2011

Full Story at money.cnn.com NEW YORK (CNNMoney) — American International Group is back in the red. Way in the red. The bailed out insurer posted a net loss of $4.1 billion on Thursday, a loss per share of $2.16 for the third quarter. While analysts hadn’t expected the company to post a profit, the size [...]

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Stocks: Worst quarter since financial crisis

By doris | Published: October 2, 2011

Full Story at CNN.com NEW YORK (CNNMoney) — Stocks ended a dismal quarter with heavy losses Friday as investors remain worried about the debt crisis in Europe and the outlook for global economic growth. The Dow Jones industrial average (INDU) fell 240 points, or 2.1%, to close at 10,913. The S&P 500 (SPX) slid 30 [...]

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Number of defaults on student loans jumps

By doris | Published: September 13, 2011

Full Story at msnbc.com The number of borrowers defaulting on federal student loans has risen substantially, highlighting concerns that rising college costs, low graduation rates and poor job prospects are getting more and more students over their heads in debt. The national two-year cohort default rate rose to 8.8 percent last year, from 7 percent [...]

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Online poker companies indicted for fraud

By doris | Published: April 15, 2011

Full Story at money.cnn.com NEW YORK (CNNMoney) — The founders of the three largest Internet poker companies have been indicted for running illegal gambling operations, federal law enforcement officials said Friday. The United States Attorney in New York unsealed the indictment against eleven people, including the founders of PokerStars, Full Tilt Poker, and Absolute Poker. [...]

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Obama may limit tax breaks for rich

By doris | Published: February 11, 2011

Full Story at money.cnn.com NEW YORK (CNNMoney) — President Obama on Monday may propose limiting tax breaks for the rich, budget and policy experts say. In the president’s past two budget requests, he called for limits on the the value of itemized deductions for those in the top two tax brackets. That would include deductions [...]

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Fox-Cablevision feud makes NYC area miss baseball playoff

By doris | Published: October 17, 2010

Full Story at msnbc.msn.com Cablevision and Fox parent News Corp. have walked away from the negotiating table for the evening, leaving 3 million customers in the New York metropolitan area with little hope of watching the first game of baseball’s National League Championship Series from their couch. Cablevision spokesman Jim Maiella said both sides met [...]

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Their home was sold by mistake

By doris | Published: September 28, 2010

Full Story at msnbc.com Douglas Garhartt and Brandon Lively were just settling in to the ocean-view San Clemente townhome they bought in March when suddenly they were faced with the threat of eviction. Less than a week after they closed sale on the condo, it turned out, a small group of investors had purchased the [...]

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What went wrong at Burger King

By doris | Published: September 5, 2010

Full Story at money.cnn.com FORTUNE — It’s not yet clear what Burger King’s new owner, the Brazilian-backed private equity firm 3G Capital, has in mind for the troubled No. 2 fast-food chain. But a total strategic revamp is in order. Burger King (BKC), which went public four years ago after its previous private equity owners [...]

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Stocks end a brutal August with meager gains

By doris | Published: September 1, 2010

Full Story at msnbc.com NEW YORK — The stock market ended its worst August since 2001 with meager gains Tuesday after minutes from the latest Federal Reserve meeting showed officials’ increasing concern about the economy. Stock indexes gave up most of their gains in mid-afternoon after the release of minutes from the Fed’s Aug. 10 [...]

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Foreclosure prevention program losing its punch

By doris | Published: August 21, 2010

Full Story at money.cnn.com NEW YORK (CNNMoney.com) — The president’s signature foreclosure rescue plan is losing its punch, according to a federal report released Friday. Only 36,695 troubled homeowners received long-term mortgage modifications in July under the Obama administration’s Home Affordable Modification Program, known as HAMP. This brings the total to 434,717 borrowers who have [...]

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What’s missing for back-to-school? 135,000 teachers

By doris | Published: August 20, 2010

Full Story at money.cnn.com NEW YORK (CNNMoney.com) — More children are crowding into classrooms in Modesto, Calif. Parents are paying extra to send their kids to full-day kindergarten in Queen Creek, Ariz. And the school buses stopped rolling in one St. Louis area school district. These are but a few of the unwelcome changes greeting [...]

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