| Boxer: Guilty of Mommyism!
Critics rightly argue that it may well be too little, way too late. But for a skeptical Congress and nation, it is still the right thing to try -- as long as we do not count on it succeeding and we start working on backup plans even as we grant Bush his request. P.S.: I wonder how much of the blame for the "too late" part will turn out to fall on Karl Rove. It seems highly likely that Bush knew many months ago that a new Iraq plan was needed, but delayed for fear of disrupting his overconfident Republican strategist's flat-footed midterm election strategy--even though, it seems clear now, declaring this new initiative seven months ago might have saved the Republicans in the election. ... 10:43 P.M. link Friday, January 12, 2007 It's the Hassle: Washington Monthly's Charles Peters mocks the "new proletariat" of Americans in the "$100,000-$500,000 income range," especially their agitation against the Alternative Minimum Tax.
Food prices will rise, says Woolworths CEO
Last week, inflation rose to three per cent in 2007, latest official figures show. Tightening the belt Financial markets now expect the Reserve Bank of Australia to lift interest rates next Tuesday to head off price pressures in the economy. Mr Luscombe said there is "no doubt that discretionary spending be be tough" in the months ahead, particularly in those suburbs in the mortgage belt areas. But Woolworths' strategy for its BIG W variety chain was "going well", and Mr Luscombe noted higher foot traffic in the stores. BIG W's first half sales grew by 13.1 per cent to $1.187 billion. Analysts pointed to Woolworths' plan to ramp up the refurbishment of its stores and include more private labels. "This is much higher margin for Woolworths, so they are effectively forcing the private label down the throat of the consumer," an analyst said.
State takes aim at foreclosure rescue firm
Attorney General Bill McCollum has sued a South Florida-based foreclosure rescue company, alleging the firm defrauded dozens of homeowners, and is seeking legislation to strengthen protections for those facing foreclosure.
The civil suit -- filed jointly with the Office of Financial Regulation in Broward County Circuit Court -- charges National Foreclosure Management and multiple affiliates violated the state's deceptive and unfair trade laws. The suit claims the foreclosure rescue firm or its affiliates defrauded at least 80 homeowners of about $1.7 million in home equity.
The company, which also does business as American Home Rescue Inc., selected homeowners who were facing foreclosure and had substantial equity in their homes, the suit said. The company offered to hold the homeowners' titles for a year, and refinance the debt while allowing the homeowners to stay in their houses.
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