The Morning Of All Bad News
Oct. 27 2008, Published 7:07 a.m. ET
Hi, it is all bad news this morning! Like, really bad.
• In the third quarter of this year, home foreclosures were up 71 percent over last year. "Nearly 766,000 homes received at least one foreclosure-related notice from July through September." (That's more than 1 percent of U.S. mortgages!) And 250,000 homes were actually repossessed.
• That will send the markets hinky today.
• The New York Times also released their third quarter numbers too! "Preliminary third-quarter operating profit decreased to $10.0 million from $28.1 million in the third quarter of 2007."
- BREAKING: Jailed 'Sex Beast' Sean 'Diddy' Combs Hit With Another Wave of Horrific Lawsuits — Rapper Accused of Drugging, Raping, Sodomizing and Threatening to Murder Multiple New Victims
- Aerosmith Announces Retirement From Touring After 54 Years — Band Confirms Steven Tyler's 'Full Recovery' From Vocal Injury 'Not Possible'
- Cardi B Announces She’s Pregnant With Baby No. 3...After Filing for Divorce AGAIN From Husband Offset: ‘With Every End Comes a New Beginning’
DAILY. BREAKING. CELEBRITY NEWS. ALL FREE.
• Goldman Sachs to lay off 10 percent of workforce. And the unemployment peak is (duh) expected to go to at least 8 percent. Seven percent is wishful thinking.
• Nearly half a million people filed new unemployment claims in the last four weeks.