Business News for Saturday October 30, 2010

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Hedge funds sue banks over Tribune deal NEW YORK (UPI) -- Hedge funds representing $800 million in Tribune Co. debt said banks improperly went along with the 2007 sale of the company, court papers in New York say. While Tribune Co. remains tied up in bankruptcy court in Delaware, hedge funds Alden Global Capital and Greywolf Capital filed suit in New York alleging Bank of America, Merrill Lynch Capital Corp., Citicorp North America Inc., and JPMorgan Chase went along with Sam Zell's $8 billion leveraged buyout out the ... Continue Reading... Post a Comment | Share | Print Ohio: No foreclosure 'do-over' for banks COLUMBUS, Ohio (UPI) -- Ohio Attorney General Richard Cordray said resubmitting affidavits on foreclosures would not help banks dodge responsibility on fraudulent paperwork. In two letters, one sent to large U.S. lenders and one sent to judges in Ohio, Cordray warned, "It is not acceptable for a party who believes they submitted false court documents to merely replace those documents," The Wall Street Journal reported Saturday. In a letter to Wells Fargo & Co., Cordray ... Continue Reading... Post a Comment | Share | Print Easton Sports bicycle seat posts recalled WASHINGTON (UPI) -- The U.S. Consumer Product Safety Commission announced a voluntary recall of Easton Sports bicycle seat posts due to a fall hazard. About 200 bicycles with 2010 EC90 Zero seat posts were imported from China by Easton Sports of Scotts Valley, Calif., and sold at bicycle shops nationwide from April 2010 through August 2010 for between $150 and $200 apiece. The clamp on the top of the bicycle seat posts can crack, posing the risk of a fall to the rider. Continue Reading... Post a Comment | Share | Print Advertisement Free Education Handbook - Updated for 2010 * Get yours today! Free Zippo Lighter! The Children's Place vests recalled WASHINGTON (UPI) -- The U.S. Consumer Product Safety Commission announced a voluntary recall of The Children's Place ruffled vests due to a choking hazard. About 3,300 girls' white ruffle outdoor vests were imported from China by The Children's Place Services Co. of Secaucus, N.J., and sold online at www.childrensplace.com in September 2010 for about $20 each. The vests are quilted with a fake fur hood. The metal snaps on the vest can detach, however, posing a choking ... Continue Reading... Post a Comment | Share | Print     More Headlines • Dollar Tree Halloween lanterns recalled • CBOT closes mixed Friday • 3G phone coverage reaches top of the world • GDP dampens oil prices • Markets exit October on a quiet note     More News From ArcaMax Current News Entertainment News Business News Sports Political News Weird News Religious News Lifestyles

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