Word: longings
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That change suggests that more home owners are simply walking away from their mortgages, rather than attempting to make payments, especially during a recession with record-high long-term unemployment. "Chapter 13 was designed for regular economic times when people might lose their jobs and fall behind on their mortgage for three to four months, but having found a new job they would be able to use the Chapter 13 process to keep their homes," says Porter, noting that even during normal economic times only 1 in 3 Chapter 13 bankruptcy filings results in the individual's successful meeting...
...last spring that would have allowed for mortgage modifications. But since then, it has become clear that without loan modification, many borrowers have no recourse but to accept foreclosure and walk away, says Porter. "I think one reason the economic recovery is slow is that it is taking so long to work through these delinquencies," she says...
Among the companies that made significant moves from last year's list, Ford made the biggest jump, from No. 51 to No. 37. "CEO Alan Mulally has been out in public making long-term decisions: not taking bailout money, having a vision," says Fronk. "It's a different story going on at Ford than at some of their competitors." Other big gainers included ExxonMobil, Pepsi, Costco, the Home Depot and Southwest Airlines. Among the companies falling the fastest in the rankings were Bank of America, Verizon, Sony, Target and Time Warner (the parent company of TIME). (See which businesses...
...penthouse, silverware clinking on fine China, various foams and reductions tickling cultured palates. An out-of-town guest turns to a Thai man and asks about the red-shirted protesters calling for the government's downfall. "Who supports the red shirts?" asks the foreigner, trying to understand the years-long standoff between the red shirts and the pro-government yellow shirts. "No one," replies the Thai, dismissively, sniffing a fine Bordeaux. Then, as an afterthought, he adds, "Well, except for the poor...
...home," lest the demos degenerate into rioting as did a red protest last year. The overall mood was one of fortress Bangkok being surrounded by alien beings. Then the unexpected happened. As tens of thousands of red-shirt vehicles wound through Bangkok streets on March 20 in a miles-long caravan, members of the city's lower and middle classes emerged to cheer on the crimson convoy. Short-order cooks waved their toques, teeth-whitening technicians handed out spears of green mango and Starbucks baristas clapped in unison. A gaggle of mini-skirted ladies from the Eros Lounge even shook...