Tribune"s August revenue down 5

Tribune"s August revenue down 5.2%.
(AP) ? Tribune Co., which is being taken private in a deal led by Sam Zell, said Thursday its August revenue dropped 5.2% as classified ad sales slid on sharp real estate declines. The company, whose properties include the Chicago Tribune, the Los Angeles Times and 23 television stations, said consolidated revenue for the period ended Sept. 2 fell to $391 million from $413 million in the prior year. Publishing revenue slipped 6.1% to $271 million, with ad revenue declined 7.2% to $210 million. National ad sales rose 2.8%, with increases in financial, telecom/wireless and media partially offset by declines in the resorts and auto categories. .

Why Iowa’s numbers rank so high

Why Iowas numbers rank so high.
SUBPRIME LOANS: Iowa borrowers have relied heavily on subprime loans, which are aimed at consumers with poor credit. In Iowa, 9.20percent of subprime loans were in foreclosure, according to the most recent data from the Mortgage Bankers Association. Nationally, the percentage is 5.10 percent. The statistics worsen with subprime loans that have adjustable mortgage interest rates. Of those loans, 12.08percent were in foreclosure at the end of first quarter, nearly double the national rate of 6.46 percent. FEWER ?EXIT RAMPS?: Kathleen Keest, senior policy counsel for the Center for Responsible Lending, said she believes the foreclosure crunch hit earlier in Iowa and other Midwestern states than other parts of the country. Rapid appreciation in home values helped homeowners on the East and West coasts, for example, refinance troubled loans as adjustable mortgage rates reset.

Financial market woes and Sonoma County real estate

Financial market woes and Sonoma County real estate.
The effect of the sub-prime financial market and mortgage company problems have been extensively analyzed and discussed. I, however, would like to add my perspective as to how the national problems could impact Sonoma County"s residential real estate. Let me give you my version of how we got to where we are today. As we know, the Federal Reserve under Alan Greenspan tried to keep the economy moving ahead after the shock of Sept. 11, 2001 and the stock market debacle of 2002. The Fed accomplished its economic objective by lowering the Federal funds rate to 1 percent in 2004 and 2005 and, concurrently, expanding the money supply. These actions created an enormous amount of liquidity in the system, the magnitude of which had not been seen in decades. Enter the creative army of mortgage originators, investment bankers and hedge fund managers who could not pass up this opportunity to make huge profits using very cheap money.

Bristol pawn shop owners face weapons charges

Bristol pawn shop owners face weapons charges.
State police have arrested two men accused of illegally selling dozens of weapons from a Bristol pawn shop. State police say the two men were involved in more than 230 illegal sales of firearms, including pistols, rifles and assault weapons. William J. Newell Jr., 36, and Thomas J. Yetke, 33, were arrested late Thursday morning by members of the State Police Firearms Trafficking Task Force, the Associated Press reports this morning. State police Lt. J. Paul Vance said the investigation focused on the Bristol Pawn and Trading Post at 475 Farmington Ave. At the beginning of the investigation, state troopers found the store"s owners were in possession of 11 banned assault weapons, including an AK-47, two Mac 10 machine pistols, an Intertec TEC-9 pistol and others, according to Vance.

It"s like watching a Horror movie

It"s like watching a Horror movie......
She sits there sewing and watching everyone. She can see most things going on. Her eye"s follow the H/Ms when they move about or get something to eat. She listens to what they are saying and drops bombshells into the conversations and then goes back to her sewing when someone gets upset. She sees things that other H/Ms don"t seem to notice. This morning she kept up the pressure on Sam. As she was brushing her teeth, Sam came into the bathroom and said she (Sam) went to bed early. Carole replied ' Yeah, you passed out on Liam"s bed' She knew Sam got upset the other night and watched Sam being comforted by Amanda and Brian but she didn"t bat an eyelid. She talks about the shopping list and food most of the day. She constantly tells the other H/Ms what to do and how to do it. Then she sits down and sews some more.

Americans can decide best energy sources

Americans can decide best energy sources.
Your recent editorial page section that applauded a bill in the U.S. House that would require energy companies to generate more power from clean sources is not actually such a good idea. But please don"t mistake that for a vote against clean energy ('The House has it right on alternative energy plans,' Aug. 15). .

Plum Creek Timber Spent $360K Lobbying

Plum Creek Timber Spent $360K Lobbying.
Real estate investment trust Plum Creek Timber Co. Inc. spent $360,000 lobbying the federal government in the first half of 2007, according to a recent disclosure form. The company lobbied on the U.S. Forest Service budget, biomass and bioenergy legislation, issues related to private timberlands and other matters, according to the form posted online Aug. 13 by the Senate"s public records office. Besides Congress, the company lobbied the departments of Interior, Agriculture and Energy, the Army and Environmental Protection Agency. Under a federal law enacted in 1995, lobbyists are required to disclose activities that could influence members of the executive and legislative branches. They must register with Congress within 45 days of being hired or engaging in lobbying. Plum Creek Timber is based in Seattle.