Fewer homeowners miss mortgage payments
Nearly one in 10 homeowners—8.2 percent—missed at least one mortgage payment in the fourth quarter of 2010, says the Mortgage Bankers Association. That’s down from 9.1 percent in the July–Sept. quarter. Missed payments peaked at more than 10 percent in 2010’s first quarter.
Financial Times
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Airlines cancel higher fares
A planned airfare increase by major U.S. carriers unraveled last week. Delta initiated the increase when it raised premier-class and last-minute fares as much as $120 per round-trip ticket. The other big airlines quickly followed suit. But after meeting resistance from customers, US Airways canceled its increase a few days later. American, Delta, Continental, and United were right behind.
USA Today
Beverly Hills' lays off its ambassador
Gregg Donovan, who since 2001 has served as Beverly Hills, Calif.’s official ambassador, strolling Rodeo Drive in a top hat and red swallowtail coat as he greeted visitors, has been laid off. The city’s visitors bureau won’t pay Donovan $7,000 in severance unless he agrees not to go public with his experiences. Donovan has refused to comply. “Eleven years is a lot of stories,” he said.
Los Angeles Times
Exxon Mobil's search for oil
Exxon Mobil is struggling to find new oil as old sources are depleted. The world’s largest oil company says that for every 100 barrels of oil it has pumped over the past decade, it has replaced only 95, either through exploration or by acquiring other producers. The disclosure heightened fears that global oil production has peaked.
The Wall Street Journal
