Greeks pull money from banks
Jittery about their country’s economic security, Greeks pulled $75 billion in deposits out of Greek banks from the beginning of 2010 through September 2011. That amounts to 23 percent of the combined total assets of all Greek banks.
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Americans stay put
Just 11.6 percent of Americans changed residences from 2010 to 2011, the lowest percentage since the Census began collecting such statistics, in 1948. The dismal job market and the inability to sell homes are the primary factors suppressing mobility. In addition, fewer boomers are moving because they can’t yet afford to retire.
USA Today
A deal for NBA team owners
The tentative agreement to end the 149-day NBA lockout favors team owners. The deal calls for a 50-50 split of the league’s $4 billion in revenues between owners and players; the players had been receiving 57 percent. Owners also won a nearly $300 million annual reduction in player salaries. The abbreviated season is slated to begin Dec. 25.
ESPN.com
Iceland rejects foreign bid
Iceland has rejected a Chinese businessman’s $8.8 million bid to purchase a tract of land equivalent to 0.3 percent of the entire country along the island’s remote north shore for a resort development. Iceland’s Interior Ministry said there was “no precedent for land on this scale being sold to foreigners.”
Associated Press
Florida's homeless population
A third of America’s homeless families live in Florida.
60 Minutes
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Quiz of The Week: 16 – 22 AugustQuiz Have you been paying attention to The Week's news?
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Can Soho House get its edge back?Talking Point The private members' club has lost its exclusive appeal – but a £2 billion buy-out could offer a fresh start
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The week's best photosIn Pictures A human pyramid, a church on wheels, and more
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The bottom linefeature Apple's profits nearly double; France repeals ban on absinthe; Solid prospects for out-of-home advertising; A degradable golf ball for seagoing duffers; Venture capital commitments soar
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The bottom line
feature CEOs face second pay decline since 1989; Sallie Mae to close overseas operations; Lower opening-day payroll for baseball teams; GM to auction 200 vintage cars; Some of the richest taxpayers pay less than 10%