Possible Change to Tax Credit

LAWMAKERS ARE NEGOTIATING TO EXTEND AND GRADUALLY REDUCE AN 8-THOUSAND DOLLAR TAX CREDIT FOR FIRST TIME HOMEBUYERS.


THEY'RE UNDER PRESSURE FROM REAL ESTATE AGENTS, MORTGAGE BROKERS AND HOMBUILDERS TO EXTEND THE CREDIT BEFORE IT EXPIRES NOVEMBER 30TH. THE TAX CREDIT, TOGETHER WITH LOW MORTGAGE RATES HAVE GIVEN A BIG BOOST TO HOME SALES.


WALL STREET DIDN'T LIKE THE NEWS THAT LAWMAKERS ARE WORKING TO PHASE OUT THE TAX CREDIT FOR HOMEBUYERS. STOCKS REVERSED AN EARLY RALLY AND FINISHED IN THE RED.

THE DOW SANK 104 POINTS

THE NASDAQ FELL BACK 12

VERIZON SAYS IT ADDED MORE THAN A MILLION CELL PHONE CUSTOMERS THIS SUMMER.. BUT PROFIT STILL SANK ALMOST 30 PERCENT. THAT'S BECAUSE MORE CUSTOMERS AND BUSINESSES ARE GIVING UP LANDLINES. LIKE MANY PHONE COMPANIES, VERIZON IS STRUGGLING WITH CUSTOMERS ELIMINATING HARD WIRED SERVICE, WHICH IS A VITAL PART OF ITS BUSINESS.


DISNEY IS OFFERING REFUNDS TO MILLIONS OF PARENTS WHO BOUGHT ITS POPULAR BABY EINSTEIN EDUCATIONAL DVDS. VARIOUS STUDIES HAVE QUESTIONED WHETHER THEY PROVIDE ANY BENEFITS AND SOME HAVE CONCLUDED THEY MAY ACTUALLY HARM A CHILD'S DEVELOPMENT. AFTER BEING THREATENED WITH LEGAL ACTION, DISNEY IS OFFERING REFUNDS FOR UP TO FOUR BABY EINSTEIN VIDEOS BOUGHT BETWEEN 2004 AND NOW.

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