Household wealth increased this spring for the first time in nearly two years. Plus: The housing industry gets some good news.
>> Alexis Christophorus: American households saw their wealth increase this spring for the first time in nearly 2 years. The fading recession breathed new life into stock portfolios and home values. Home construction rose in August to the highest level in 9 months. Building permits were also up and the Obama administration may extend the $8000 tax credit for first time home buyers when it expires this fall. First time buyers have been driving the housing market recovery. The pace of job cuts continues to slow. The number of American's applying for first time unemployment benefits fell last week to the lowest level since July. It's the 3rd decline in the past 4 weeks. Wall Street though had a bit of a decline today. After 3 straight wins the Dow dropped nearly 8 points and the NASDAC composite fell back 6. American Airlines has secured nearly $3 billion in new financing; it's also making some changes to its flight schedule to help cope with weak demand and declining revenue in the airline industry. Well if you were hoping to buy Bernard Madoff's assumed spelling Long Island beach hose you're out of luck. A buyer has signed a contract to buy the convicted swindlers Madoff retreat for more than its $8.7 million asking price. The 4 bedroom, oceanfront home went on the market just 2 weeks ago. Track all of your business headlines at CBSmoneywatch.com. In New York I'm Alexis Christophorus.
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A lot more than you probably think. But if you plan to get one, you have to finesse the degree’s lingering image problem.
Northrop Grumman announced that they would sell their SETA arm TASC earlier this month. This was due to new conflict of interest rules limiting what contracts the company could bid on. Now the Defense Department is having a forum to discuss these rules and what can be done to implement them in a way to protect companies from having to do what Northrop just did.
AARP’s health and long-term-care insurance policies are rarely the cheapest option, but they are surprisingly competitive, and can be particularly good for people who are not in perfect health. MoneyWatch compared benefits and real-world prices to find the best plans for you.
