Here’s another cool liquidated Borders store conversion story. The Pioneer Library System in Oklahoma is buying up a 25,000 square foot Borders store and turning it into their new book master control system headquarters.
San Francisco is big into recycling and books, and both interests have combined in the form of a liquidated Borders bookstore that is getting reused as a used bookstore. The owner is even finding a place for the letters in the original Borders sign: spelling out the name of the new store, “ODE.”
What happens to old Borders stores now that the book chain is bankrupt and liquidated? In Kennesaw, Georgia, one old Borders shop has been brought back from the dead as a temporary Halloween supply warehouse. It makes reader DW sad.
The way we currently measure poverty is, shall we say, based on a paucity of data. New York is deploying a new system of measuring poverty that aims to give a greater depth and richness to the poverty picture.
The Fed is widely expected to tomorrow announce the latest round of monetary policy tweaking designed to loosen up markets. It has the cute name of “Operation Twist.” Here’s how it works.
Just because Freddie Mac has a glut of properties on its hands, buyers can’t expect Costco prices. Most of the buyers approaching Freddie have been looking to buy at 40-60% off of market price, like the final weeks of a Borders liquidation sale. Instead, Freddie is sending them back this letter which says sorry, we’re only taking less than 10% off.
Tapping into popular sentiment, Alex Schaefer’s painting of a Chase bank on fire just sold on eBay for $25,200. Part of what drove up the price was online buzz after police questioned him while he was painting it, asking him if he planned to do what the painting depicted.
We know the story. Chase and other banks got billions in bailouts that they were encouraged, but not required, to use to help people modify their mortgages. Instead they sat on it and smiled like cheshire cats. Now a movement has sprung up to punish Chase for its intransigence by withdrawing money from their accounts. On the individual account level, that’s not much. But in New York state, entire towns are getting in on the act.
Last night, President Obama addressed Congress and urged them to pass the American Jobs Act immediately. Here are some of the highlighted proposals:
Claims for unemployment benefits rose by a surprise 2,000 to 414,000 last week, sending stocks downward. Economists had predicted a drop in claims to 405,000.
A dismal jobs report sent all three major stock indexes, the barometers by which the nations measures its self-esteem, tumbling early morning Friday. The government reported that employers added no jobs in August and the official unemployment rate remained unchanged at 9.1%. The last time the headline employment rate was zero was February 1945.
Looks like old Orville Redenbacher has been working on his sleight of hand technique. He wants you to focus on how his kettle corn popcorn is in a new easier to use “pop up bowl,” and ignore how it’s been downsized to 2.9 oz per bag from 3.3 oz. Worse, writers tipster Derek, the popcorn doesn’t pop as well.
The stock market continued diving on Monday, with the Dow falling 5.6% and the S&P down 6.7%, the biggest sell-off since December 2008.
It’s a one-stop foreclosure shop. Under one roof is a law office, title company, and auction house. They act as their own notaries and can foreclose. Its owner and several of his top attorneys are even VPs at the Mortgage Electronic Registration Systems Inc (MERS) which gives them the ability to transfer mortgages from owner to the other. The Boston Globe profiles a local law firm that has attracted criticism from homeowners and consumer advocates for its vertically integrated approach to foreclosure that can speedily ride over homeowners who thought they were in the middle of working out a deal with the bank.
Markets opened on an upswing Friday as the labor report came in at 117,000 jobs added for July, higher than the predicted 85,000. The unemployment rate even ticked downwards to 9.1% from 9.2% in June. But the rally quickly evaporated as concerns about the growing European debt crisis and how government spending cuts might stymie economic growth took precedence.