Thu August 25, 2011

Buffett Gives Bank Of America $5 Billion Boost

Warren Buffett has given the country's biggest bank a $5 billion vote of confidence. Bank of America's share price had been sliding. But Buffett announced Thursday that his conglomerate Berkshire Hathaway is investing $5 billion and will receive 50,000 shares of preferred stock, and now the bank's shares are up about 12 percent. Three years ago, Buffet helped another bank in crisis when he put $5 billion into the Wall Street firm Goldman Sachs.


Thu August 25, 2011

In Summer Of Angry Voters, Whither The Town Hall?

For members of Congress, August can be a time to reconnect with voters back home. One favorite way to do so has been the town hall meeting.

But this year, with voters angrier than ever, many lawmakers are choosing not to hold those meetings.

In Minnesota, one Republican freshman is trying to navigate his district's political currents.

'I Will Do My Best'

When he was running for Congress last year, Chip Cravaack told the same story, over and over, about how a town hall meeting — or the lack of one — had gotten him into politics.

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Thu August 25, 2011
The Two-Way

Merkel Back At No. 1 On Forbes' List Of World's Most Powerful Women

German Chancellor Angela Merkel on Wednesday (Aug. 23, 2011) in Belgrade.
Andrej Isakovic AFP/Getty Images

After a dip to No. 4 last year, German Chancellor Angela Merkel is back at No. 1 on Forbes magazine's annual "World's Most Powerful Women" list.

Merkel's four-year run atop the rankings was broken last year by Michelle Obama. But this year, by Forbes' reasoning, the first lady came in at No. 8.

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Thu August 25, 2011
The Two-Way

India's Prime Minister Asks Anti-Corruption Activist To End His Fast

Anna Hazare, a 74-year old anti-corruption crusader in India, is on the 10th day of a hunger strike. Today Prime Minister Manmohan Singh asked him to end his hunger strike saying parliament could discuss anti-corruption legislation.

Reuters reports:

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Thu August 25, 2011
Crisis In The Housing Market

Foreclosures A Third Of Sales; Mortgage Rates Rise

Foreclosure sales, which include homes purchased after they received a notice of default or that were repossessed by lenders, accounted for 31 percent of the market in the April-June quarter, RealtyTrac Inc. said.
Joe Raedle Getty Images

Foreclosures made up roughly one-third of all home sales this spring. While that's a smaller share of sales from the previous quarter, it's six times the percentage of foreclosures in a healthy housing market. Meanwhile, fixed mortgage rates edged up this week from their lowest levels in decades.

Foreclosure sales, which include homes purchased after they received a notice of default or that were repossessed by lenders, accounted for 31 percent of the market in the April-June quarter, foreclosure listing firm RealtyTrac Inc. said Thursday.

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Thu August 25, 2011
Conflict In Libya

What Should The U.S. Do Next In Libya?

Originally published on Wed May 23, 2012 11:31 am

Libyan rebels remove the green flags from poles at the Abu Salim square in Tripoli on Aug. 26 after the opposition forces announced the transfer of their leadership to the capital.
Patrick Baz AFP/Getty Images

With Moammar Gadhafi and his regime driven from their strongholds in Tripoli, the most pressing question now is whether the rebels will be able to set up a government and establish order in the capital and the rest of Libya.

In their battle so far, the rebels have been boosted by NATO air power. Western nations have also been providing political and diplomatic backing to the rebel leadership, known as the Transitional National Council. And the U.S. and European states say they are prepared to return Libyan assets that were frozen in the final months of Gadhafi's rule.

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Thu August 25, 2011
Monkey See

Steve Jobs And The Cultural Apple

Apple CEO Steve Jobs delivers the keynote address at the Apple World Wide Developers Conference in June 2011. Jobs announced on August 24 that he would step down immediately as CEO of Apple.
Justin Sullivan Getty Images

When Steve Jobs stepped down from his position as CEO of Apple yesterday, he handed the reins immediately to chief operating officer Tim Cook, who has had such a significant hand in day-to-day operations that many expect that Apple won't immediately suffer much in the way of effects on either its ability to turn out beloved products or its business position.

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Thu August 25, 2011
Kentucky Arts and Culture

Kentuckian who was Liberia's President

Russell managed to survive the trip to Liberia when he was about 15, but life didn't get much better for years there.
Lexington Herald-Leader

Alfred Francis Russell, a freed slave from Kentucky, became the 10th president of Liberia in 1883. He was a man who worked through very difficult circumstances to briefly lead a country in Africa that was formed as a means of giving some American blacks their first taste of self governance.

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Thu August 25, 2011
Eastern and Central Kentucky

Corbin Home Focus of Repeated Searches

For the second time in a week, federal agents searched the home of a Corbin man arrested on methamphetamine, gun and explosives charges but police have been quiet about exactly what they are looking for. Officers with KSP, Two Rivers Drug Task Force, ATF, U.S. Forest Service and others spent hours Tuesday night at the Corbin residence. Neighbors said authorities took saws and other equipment into the home and were tearing up flooring looking for something. Officers at the scene would not reveal what they were searching for, but said a search warrant had been issued for the home.

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Thu August 25, 2011
Business and the Economy

$12 Million Expansion at Augusta Plant

A fixture in Augusta for more than 50 years, Clopay Plastic Products Company is a large contributor to employment opportunities in the region. On Wednesday, Clopay officials met with Bracken County Fiscal Count in executive session to iron out details of a proposed $12 million expansion project, which includes tax concessions and property acquisition assistance on behalf of the county.

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