Confusion and fear at Toyota dealerships

Toyota drivers are feeling mounting confusion and frustration as they attempt to fix their recalled cars. And Toyota dealers are under the gun as they face sometimes angry customers.
"It’s just getting crazy," said Andy Phillips who heads the service department at Sandy Springs Toyota in Georgia. "Well, you know. I’m tired, the phones are […]

Great Florida Bank loses $16M

The losses continued for Great Florida Bank in the fourth quarter, but it succeeded in paring down its problem loans.
The Miami Lakes-based bank (NASDAQ: GFLB) suffered a net loss of $15.9 million in the fourth quarter, following a $13.3 million loss in the third quarter, according to its filing with the Federal Financial Institutions Examination […]

Auto execs: Still too many plants

The U.S. auto industry has been decimated in recent years by a rash of plant closings. But according to a survey of top industry executives, more shutdowns could be on the way.
The survey, conducted annually by accounting firm KPMG, found that 88% of top industry executives thought there is still too much capacity at […]

Holiday crowd boosts Best Buy

Customers snapping up electronics and gift cards for the holidays boosted Best Buy’s third-quarter profit, but the nation’s largest electronics retailer said Tuesday that shoppers are focused on prices, particularly of TVs and computers.
Best Buy predicted consumers will stay that way in the fourth quarter, squeezing its profit margin. That forecast sent […]

California cities losing millions in sales tax receipts

Cities and counties in California are losing millions of dollars in sales tax receipts due to slower retail sales, compared with last year.
In the most recent data available from the state Board of Equalization, jurisdictions around the state got $244 million in October, 14.5 percent less than they got in October 2008 as their share […]

Key sponsors stand by Tiger

He is Tiger Inc. Hear him roar.
Multi-million dollar contracts. An estimated $100 million (U.S.) in endorsements per year. More than $92 million from PGA career tournament winings. Ballooning PGA ticket sales and TV viewership levels.
Tiger Woods was, until now at least, a thoroughly unpolarizing sponge for corporate money who, according to Forbes magazine, […]

Manufacturing grows again, but recovery fragile

The U.S. manufacturing sector grew for the fourth straight month in November, though at a slower pace, and questions remain about the staying power of the incipient economic recovery.
Signs the housing market was bouncing back in October were also tempered by a flat reading for construction spending for that month in other data reported […]

Charter lenders can’t block emergence, judge says

NEW YORK — Charter Communications Inc.’s lenders, led by JPMorgan Chase & Co., lost a bid Wednesday to block the cable communications company from leaving bankruptcy.
U.S. District Judge Sidney Stein affirmed Bankruptcy Judge James Peck’s Nov. 23 decision to deny the lenders’ request for a stay while they appeal his confirmation of Charter’s […]

Exchanges, under profit pressure, mounting defense

Two market operators, Nasdaq OMX and Deutsche Boerse, reported profit drops on Thursday, partly reflecting the price war between traditional players and younger challengers for market share and increasingly narrow margins.
Nasdaq OMX, which runs the U.S.-based Nasdaq Stock Market and venues in Nordic countries, said diluted earnings dropped 18 percent, while Deutsche Boerse, which […]

Bank Compensation Curbs Thrust Fed, Treasury Into Boardrooms

Compensation curbs announced yesterday by the Treasury Department and the Federal Reserve thrust the U.S. government into decisions about pay and performance traditionally reserved for corporate boards.
The Treasury’s special pay master, Kenneth Feinberg, slashed the salaries of the most highly paid executives at seven companies that received taxpayer aid, including Citigroup Inc. and […]