… their home appliances to high-efficiency Energy Star products. This money will come from the American Recovery and Reinvestment Act and will be awarded by Nov. 30, 2009.

Products that qualify include: central air conditioners, heat pumps, boilers, furnaces, room air conditioners, clothes washers, dishwashers, freezers, refrigerators and water heaters. But there may also be other qualifying products that are state specific, those details will become available by the end of October. …

Tags: American Recovery and Reinvestment Act of 2009 Credit card Energy conservation Energy Star Tax credit United States

COBRA subsidies that paid 65 percent of unemployed workers’ health insurance premium have ended for 7 million unemployed Americans November 30 th.  The subsidy which is part of the American Recovery and Reinvestment Act lasts for 9 months from the date that an unemployed worker applies. But the first group of unemployed Americans receiving the subsidies has exhausted the time limit.  Some legislators are working to have the …

Tags: American Recovery and Reinvestment Act of 2009 COBRA Health insurance Unemployment benefits

Permalink: /medical_bills/cobra-subsidy-ends-for-millions-of-unemployed-americans/

Last year the Obama administration created the American Recovery Capital lending program which is providing $255 million in emergency loans until September for “viable” small businesses facing immediate financial hardship. Businesses facing financial problems could receive deferred payment loans of up to $35,000 interest-free for five years.  However the program has not worked out as many had hoped and it may not provide much relief for …

Permalink: /bankruptcy/american-recovery-capital-loans-may-not-help-businesses-avoid-bankruptcy/

Critics of President Obama are taking advantage of the rising unemployment rate to question the effectiveness of his recovery plan and economic leadership, and the huge budget deficit is only adding fuel to their fire.  President Obama is working to show that there are concrete benefits to his recovery plan, saying that his administration expects to save or create 600,000 jobs this summer, thanks to the …

Permalink: /job_loss_unemployment/rising-unemployment-casts-doubts-on-president-obamas-economic-recovery-plan/

… , the recession gripping the nation is predicted to worsen, with job losses, bankruptcies and foreclosures reaching record numbers even with the stimulus package pumping billions into the economy.

The article said:

The country stands to lose a sizable chunk of economic activity in 2009 as consumers at home and abroad retrench in the face of persistent economic troubles. And the U.S. unemployment rate – now at 7.6 percent, the highest in more than 16 years – is expected hit a …

Permalink: /economy/american-workers-in-for-a-rough-ride-for-2009/

The high unemployment rate and tight credit markets have caused consumers to decrease their spending which has many economists fearing that an increase in savings will derail the U.S. economy. Since spending accounts for 70 percent of the United States’ total economic activity, the rapid decline in spending has hurt everyone from retailers to banks.  Many consumers have been hesitant about spending because of rising …

Tags: Borrowing Economy Recovery Saving

Permalink: /economy/economists-fear-consumer-saving-is-derailing-u-s-recovery/

According to an article in the Star-Telegram, American Airlines has cut its fleet from 900 planes to 600. Because it has fewer planes, the company announced 700 job losses and the closure of its Kansas City maintenance base. The job losses will affect mechanics, engineers, management as well as union and non-union workers. No job losses have been announced for the Fort Worth maintenance facility; but if the airline industry continues to …

Tags: American Airlines Job Loss

Permalink: /job_loss_unemployment/american-airlines-workers-suffer-job-losses/

… in the Bloomberg, U.S. consumer bankruptcies rose past 1 million during the first nine months of 2009. That’s the highest number of bankruptcies since the 2005 changes to bankruptcy laws.

The article said:

“Personal bankruptcies totaled 1,046,449 for the period, according to the American Bankruptcy Institute and National Bankruptcy Research Center. For the first nine months of 2005, the figure was 1.35 million.”

The number of Americans filing bankruptcy is a reflection of …

Permalink: /job_loss_unemployment/u-s-bankruptcies-surpass-one-million-in-2009/

According to an article on Reuters , the recent recovery in the credit markets might be in trouble.  The Federal Reserve is getting some of the credit for the rebound by helping the credit markets recover.  One program that the Fed used to get credit flowing again is the Term Asset-Backed Securities Loan Facility, or TALF.  Now, many people are concerned as to whether or not the credit markets will be able to stand on their own at the end …

Comment by Jacob Decker: Access to capital and liquidity problems are serious …

Permalink: /credit_card_negotiation/the-credit-crisis-recovery-might-be-in-trouble-if-talf-program-expires/

According to an article in the Dallas Morning News, American Airlines in implementing job losses as it attempts to avoid bankruptcy and dig itself out of a financial hole. Approximately, 921 flight attendants at American Airlines will face unemployment, while 228 other employees will be furloughed.  Already, 224 employees have taken two-month involuntary leaves in lieu of job losses. In June, American Airlines warned that it would probably …

Tags: American Airline Employment

Permalink: /job_loss_unemployment/american-airlines-job-losses/

According to an article in the Dallas Morning News, Fort Worth based AMR Corp., parent company of American Airlines Inc., lost $375 million (15 percent of its revenue) in the first quarter of 2009.

The article said: “While lower fuel prices have provided a significant buffer against falling demand in 2009, the struggling economy and capital markets remain significant challenges for American and the rest of the industry,” AMR chairman and chief executive officer Gerard Arpey said. …

Permalink: /breaking-news/american-airlines-loses-15-percent-of-revenue/

American Airlines is in the news again, competing with other airlines who have filed for bankruptcy such as Delta, Northwest, United and US Airways has been a struggle. According to an article in the Dallas Morning News , many analysts are wondering aloud about whether or not American Airlines would be better off filing for Chapter 11 bankruptcy.

Tom Horton, the CFO of American …

Permalink: /bankruptcy/would-american-airlines-be-better-off-if-it-filed-bankruptcy/