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The biggest benefit of last fall’s Troubled Asset Recovery Program was that financial companies like Countrywide, Bank of America, Citigroup and Wells Fargo increased their quarterly residential mortgage business by $134 million, according to the Treasury Department. Even monthly loan originations jumped. Mortgages, home equity lines of credit and other consumer loans increased during March,… Continue Reading Residential lending steadies, commercial stays slow

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Colorado Springs could get a summer tourism boost from driving vacationers this year. About 85 percent of tourist travel in the city comes from people within the state – and global outplacement firm Challenger, Gray and Christmas says those markets will fare best during the upcoming tourism season. Destinations that rely heavily on tourists who… Continue Reading Recession could boost Springs’ drive-in tourism

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LONDON (AP) – An American Airlines pilot failed a breath test at London’s Heathrow airport, the airline said Thursday. American said the pilot was given the test Wednesday after airport security staff alerted police. The pilot, whom the airline declined to name, was supposed to operate a flight with 204 passengers to Chicago. The flight… Continue Reading American Airlines pilot fails alcohol breath test

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Lynne Telford is leaving her position as executive director of the Springs’ Center for Nonprofit Excellence to work full time as Chief Operating Officer of the Pikes Peak United Way. That leaves the CNE top position open. Resumes and applications are due June 1. Telford had recently been juggling jobs at both the CNE and… Continue Reading CNE’s Telford steps down, executive director position open

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Colorado Springs business groups sent a statement of opposition yesterday to Gov. Bill Ritter’s support of legislation that blocks the sale Pinon Canon land – and they didn’t mince words. “Members of the Quality Community Group are stunned and extremely disappointed with the governor’s expressed intent to sign HB 1317,” the statement said. “All the arguments… Continue Reading Springs groups send strong message to Governor Ritter

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Colorado Springs Credit Union has changed its name to Aventa Credit Union. Don’t run for Webster’s or dictionary.com. The name is made up – and meant to reflect the local friendly culture, credit union officials say. The credit union was established in 1957 as the Colorado Springs Employees Credit Union to serve utilities employees, but… Continue Reading Colorado Springs Credit Union takes new name

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WASHINGTON (AP) – The credit card companies seem to have few friends on Capitol Hill these days, with even the most business-minded lawmakers siding with consumers in speaking out against steep rate hikes and fees.The House was expected to pass, possibly as early as today, a bill that would enact sweeping new restrictions on the… Continue Reading Senate sides with consumers, supports credit card bill

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Swine flu hits El Paso County

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Two people in El Paso County have been hospitalized with confirmed cases of swine flu, according to the El Paso County Department of Health and Environment. The first two known cases in the county, a woman and an unrelated infant are recovering from the virus. “This situation continues to evolve, and we knew it was… Continue Reading Swine flu hits El Paso County

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UCCS tuition to increase 5%

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University of Colorado Regents approved across-the-board fall tuition increases today for all three CU campuses. University of Colorado at Colorado Springs tuition will increase 5 percent, which amounts to an additional $9 per credit hour for in-state undergraduate classes. Nonresident students pay rates that are roughly double those of Colorado residents. Those students will see… Continue Reading UCCS tuition to increase 5%

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American Express to cut 4,000 jobs

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NEW YORK – American Express said Monday it is eliminating about 4,000 jobs as part of a plan to slash another $800 million in costs for the remainder of the year.The layoffs represent about 6 percent of the New York-based credit card issuer’s current global work force. Many of the affected workers were notified in… Continue Reading American Express to cut 4,000 jobs

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