LV developer boosts casino push in Maine
The flagging campaign aimed at winning approval for a casino in western Maine is getting an 11th-hour boost from a Las Vegas developer.
The Olympia Group announced Tuesday that it’s taking over the campaign and will spend $100 million to build a casino and four-season resort in Oxford County if state voters give their approval in November.
Volt, loans said to help General Motors’ future
On its 100th anniversary, General Motors workers cheered as the company revealed the electric-powered car intended to make GM a vehicle technology leader.
But after all the hoopla surrounding the Chevrolet Volt, executives also say a government loan package and access to credit are very important parts of GM’s next century.
Chairman and CEO Rick Wagoner, speaking to reporters at Tuesday’s centennial celebration at GM’s world headquarters, said the recent turmoil in the financial markets shouldn’t affect the loan package now before Congress.
The $25 billion in loans, approved last year as part of an energy bill, should now be funded to help the industry build next-generation automobiles, Wagoner said.
Nevadans sue, charge predatory lending
A 71-year-old Fernley man and a permanently disabled couple in Carson City have filed lawsuits in Reno federal court alleging predatory lending practices that resulted in foreclosure and threatened sale of their homes.
Defendants in the case include Washington Mutual Home Loans, Impact Financial Group, Sierra Pacific Mortgage, GRP Financial Services and Indymac.
Plaintiffs attorney Robert Hager said he’s seeking class action certification for the lawsuit, which alleges federal violations of the Truth in Lending Act, Real Estate Settlement Procedures Act and Fair Housing Act.
Treasury prices dip as Fed leaves rates alone
Treasury prices fell Tuesday after the Federal Reserve left short-term interest rates unchanged.
In late trading, the benchmark 10-year Treasury note fell 0.25 points to 104.72 points. Its yield rose to 3.43 percent from 3.41 percent.