Freddie Mac Asks for $10.6 Billion
Freddie Mac Asks for $10.6 Billion
May 6, 2010, New York Times
Freddie Mac is asking for $10.6 billion in additional federal aid after posting a big loss in the first three months of the year. The new request will bring the total bill for rescuing Freddie Mac, which has been effectively owned by the government since nearly collapsing in September 2008, to $61.3 billion.
Pulte Pares 1Q Loss and Now Expects Profit in 2010
May 5, 2010, Associated Press
PulteGroup Inc., the nation's largest homebuilder, said Wednesday it slashed its loss in the first quarter and forecast it would be profitable this year. That would mark a major turning point for the builder, which has posted a loss now for 14 consecutive quarters as the worst housing downturn in decades unfolded. But management struck a confident tone Wednesday, saying it expects its sales to continue improving this year and the write-downs that have eaten away at its profits should ease.
Gulf Spill May Be Worse Than Storms, Landowners Say
May 6, 2010, Bloomberg News
BP Plc’s burgeoning oil spill in the Gulf of Mexico may hurt property owners more than any storm as sludge threatens to wreak long-term damage on the region’s most valuable asset: its environment. “I’ve been through Hurricane Camille, Hurricane Frederick and Hurricane Katrina,” said Greg Miller, owner of Fort Morgan Realty and Development Inc. in Gulf Shores, Alabama. “They all pale in comparison to this.”