Word: moring
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Dates: during 2000-2009
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The major difficulty now is the weak economy and rising joblessness. Under the U.S. government's plan, a modified loan payment must not account for more than 31% of a family's income. With unemployment north of 10%, in a growing number of cases, the mortgage isn't the problem...
Another is the changing behavior of people who owe more on their mortgage than their house is worth. According to a recent analysis by the credit bureau Experian and the consultancy Oliver Wyman, nearly 600,000 borrowers might have intentionally defaulted on their mortgages in 2008, twice as many as...
Toyota's announcement last week that it will recall more than 3.8 million vehicles is unlikely to end the controversy over the car's sudden-acceleration problems. Following complaints about the problem - and a deadly accident in California last summer - the company acknowledged that floor mats, if not secured properly...
David Cole, director of Center for Automotive Research in Ann Arbor, Mich., says it is probably too soon to tell how much damage the controversy has done to Toyota's image for quality and reliability. "Every company rests its business on a few pillars. For Toyota, one of the key...
Nevertheless, Toyota, which has seen its sales in the U.S. fall 28%, was planning to spend more than $1 billion on advertising, incentives and "incremental" production, starting in the fourth quarter. "You can't save your way through a recession; you've got to sell," Carter told reporters recently. The...