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WASHINGTON (AP) – Citigroup Inc. and Bank of America Corp. will need to raise more capital if they can’t convince regulators that “stress test” results were mistaken, according to two people familiar with the matter.The banks are hard at work preparing their appeals, said the people, who spoke on condition of anonymity because everyone involved… Continue Reading BofA, Citigroup need more capital after stress test

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Flu scare hasn’t hit Colorado Springs

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While health officials worldwide are mobilizing to respond to the spread of swine flu, people in Colorado Springs seem to be taking the news in stride. The city’s two hospitals are not seeing increased emergency room visits, with people asking for swine flu tests. And the public health system seems to be holding up under… Continue Reading Flu scare hasn’t hit Colorado Springs

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Obama plan would lower second-mortgage bills

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WASHINGTON (AP) – The Obama administration is expected to announce today that it is expanding its plan to stem the housing crisis by offering mortgage lenders incentives to lower borrowers’ bills on second mortgages.\ During the housing boom, lenders readily gave out “piggyback” second loans that allowed consumers to make small down payments or avoid… Continue Reading Obama plan would lower second-mortgage bills

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Mayor Lionel Rivera was pounding the pavement last week, soliciting support for a 1 percent public improvement fee that would be collected by the Downtown Metro District on downtown restaurant and bar sales. Revenue generated by the fee would be used to secure a $1 million loan from the Colorado Office of Economic Development to… Continue Reading Mayor peddling new fee to salvage USOC deal

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Ent awards YES grants

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Ent Federal Credit Union has awarded $45,000 in Youth Endowment Series program grants to 17 local nonprofit organizations. Fifty-four organizations applied for the grants. Among other criteria, the applications were evaluated according to their general benefit to the community and potential ability to use the grant to obtain additional funds and community support. Since the… Continue Reading Ent awards YES grants

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There’s hope on the horizon for the home building industry. National Association of Home Builders April Housing Market Index data, released April 24, suggests that the new home market may be at or near the bottom. The HMI, which measures builder confidence in the single-family housing market, jumped five points in April, the largest one-month… Continue Reading Housing market index: activity at or near bottom

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Forum to examine Springs’ high suicide rate

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Pikes Peak Behavioral Health Group is exploring the reasons behind the Colorado Springs’ high suicide rate during a day-long panel event from 7:45 a.m. to 4:30 p.m. May 20 at the Crowne Plaza Hotel, 2886 S. Circle Drive. The event will feature a panel of local and state suicide experts as well as a community… Continue Reading Forum to examine Springs’ high suicide rate

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Judge tosses Bruce complaint

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Administrative Law Judge Robert Spencer dismissed a complaint Douglas Bruce filed against the city of Colorado Springs in which he alleged that the city attempted to influence the April municipal election by sending “quick facts” about the city’s budget through the Neighborhood Watch e-mail system. Bruce represented himself in the five-hour April 9 hearing, while senior… Continue Reading Judge tosses Bruce complaint

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A bill that would dismantle the state’s 133-year-old business personal property tax passed the Senate this morning and was promptly assigned to the Senate Appropriations Committee – a move that many supporters believe to be a death knell for the bill. Senate Bill 85, sponsored by Parker Republican Sen. Mark Scheffel would phase out the… Continue Reading Business Personal Property Tax bill sent to Appropriations

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Aside from making people sick, the Swine Flu scare could lessen business productivity, drain the local health department’s emergency fund and cut the legs out from under an already crippled U.S. economy. Even though the flu scare is in its infancy with 40 people sickened, according to the Centers for Disease Control, it hasn’t stopped… Continue Reading Swine Flu a scary prospect for the economy

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