Word: crediteers
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...financial piers supporting lifetimes of accumulated wealth have simply vanished. This week, people everywhere are preparing to celebrate the New Year, while Madoff's victims are looking over their bank statements and credit card bills, asking themselves one question: How long can we hang on? (See the 10 worst business deals...
...Nevada-Las Vegas, estimates that 50% of homeowners owe more than what their home is worth. Perhaps the only positive note is that housing prices have returned to more reasonable levels. "We're getting back into the affordability range," Schwer says. "The only problem is we don't have credit to buy them, and we're losing jobs." (See pictures of Las Vegas...
...their current predicament, for many of the reasons you cite, the U.S. Treasury and Federal Reserve have unclean hands as well. Each of the car companies had adequate capital entering the fall, but when Treasury and the Fed "brought down the house" by letting Lehman Brothers fail, worldwide credit markets froze, preventing Americans from buying cars. Financial markets and the lack of available consumer credit - not a lack of appealing car designs - are the reasons for this crisis, and piling the blame on Detroit is simply not balanced. Steven M. Friedman, NEW YORK CITY...
Upgrade Me. Virgin America is offering in-flight upgrades. If you want a comfier seat or you've spied a potential hot date or employer sitting up in business class, simply swipe your credit card through the console on the seat back, and if there's room up front, you can move in and start pitching yourself...
Vintage Connecticut. Mystic has more than just pizza. The Marriott Mystic Hotel & Spa is offering a "Connecticut Wine Experience" package, which includes a VIP tasting and complimentary bottle of wine at Jonathan Edwards Winery; a tasting and complimentary bottle at Stonington Vineyards; a $100 credit at Elizabeth Arden Red Door spa; plus breakfast and a four-course dinner for two at the hotel's steakhouse, Octagon, paired with local wines. The Mystic Aquarium and the Mohegan Sun and Foxwoods casinos are also nearby. Rates start at $575 for two, through September 2009. 625 North Road, Groton, Conn...