Washington Mutual pools $7 Billion in capital through an investment group
The nation’s largest savings and loan, Washington Mutual, said Tuesday morning that it had raised $7 billion in capital through an investment group led by private equity firm TPG. It also said that it would slash its quarterly dividend.
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Washington Mutual Press Release
Washington Mutual also said [...]

Crack credit crunch: Fixing Wall Street means getting investors better information
How to crack the credit crunch - Fixing Wall Street means getting investors better information - and the sooner the better
Financial reformers have a chance to give stressed-out markets a desperately needed reality check.
This month’s near collapse of Bear Stearns (BSC, Fortune 500) has brought [...]

8 Home Renovations - Extreme Makeover: Home Edition
Unless Ty Pennington and the crew from “Extreme Makeover: Home Edition” take on your renovation project, you’re likely to get weak-kneed looking at the estimate for the work or learning the terms of your home improvement loan.
If high prices, tough credit or falling home values have suddenly brought [...]

Eli Lilly the Drugmaker’s incoming CEO believes his science background will help generate blockbusters
The drugmaker’s incoming chief believes his science background will help generate some much-needed blockbusters.
Eli Lilly & Co.’s incoming chief executive believes his background in the laboratory provides the formula needed to fill the drugmaker’s dwindling pipeline.
“The sweet spot for me, in terms [...]

Department store lower consumer confidence lowers forecast
Department store retailer says lower consumer confidence has hurt first-quarter results.
Department store operator J.C. Penney said Friday its first-quarter earnings will be well below its previous forecast because of waning consumer demand. Its shares tumbled almost 12% and prices of other retailers also headed lower.
The disclosure punctuates worries that [...]

Best places to Lead a life and Start a Business
Are job worries tempting you to start your own company? We canvassed the country to find towns with the best mix of business advantages and lifestyle appeal. Check out our 100 top picks and find the perfect place to build your dream.
1. Bellevue, Wash.
Population: 111,608
Pros: Talented [...]

Financial sector bounces back as profits at Lehman Brothers and Goldman Sachs clear Wall Street’s lowered bar
The financial sector bounces back as profits at Lehman Brothers and Goldman Sachs clear Wall Street’s lowered bar.
Maybe the financial system isn’t on the verge of collapse after all.
Bank and brokerage stocks soared Tuesday after solid fiscal first-quarter earnings [...]

Bush Says that Federal Government Must Guard Against Overcorrecting Economy with Sweeping Changes
Avoid Overcorrecting Economy, Bush Warns - President Bush on Saturday said the government must guard against going too far in trying to fix the troubled economy, cautioning that “one of the worst things you can do is overcorrect.” Democrats said Bush was relying [...]

Bear Stearns Recent Discussions Indicate 2 Main Contenders
Department heads at Bear Stearns met with officials at J.C. Flowers and JPMorgan Chase Saturday afternoon to give an overview of their business divisions, including headcount and profit and loss positions, CNBC has learned.
The discussions indicate that potential bidders for Bear have been narrowed to those two firms, [...]

More Rate Cuts From Fed Expected Wednesday, but by How Much?
Federal Reserve Chairman Ben Bernanke testifies before the House Financial Services Committee about the latest measures to heal the U.S. economy, on Capitol Hill in Washington in this file photo from Wednesday, Feb. 27, 2008.
Desperate to aid an economy in crisis, the Federal Reserve is [...]