| Volume 31 Number 5 |
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The People’s Lawyer’s Tip of the Day
An advanced directive, commonly called a "living will" gives you the right to make your own decisions regarding whether to die a natural death or be kept alive by artificial means after being diagnosed with a terminal condition. For a free copy, Click here for more.
Circuit City Files Bankruptcy
Circuit City has filed bankruptcy. The stores in the United States will continue to do business and pay workers while it restructures debt and business operations. The news comes at a bad time for Circuit City, as November and December account for 50% or more of the store's revenues. Should you still consider buying the extended warranties through Circuit City? Click here for more.
AIG Receives Reworked Bailout Deal
The Fed will reduce AIG's original $85 billion bridge loan to $60 billion, and cut the interest rate by 5.5 percentage points. The government will also purchase $40 billion in preferred stock. Will the made-over bailout work? Click here for more.
American Express Changes to "Bank" Status
What's the current trend to become a part of the government bailout? Just become a "bank." The Federal Reserve recently granted "bank" status to American Express in hopes of stabilizing funding. The move will allow American Express to grow deposits, a more stable form of funding, and give it access to government bailout programs. The move comes after American Express was forced to cut 7,000 positions under financial pressure. With the giant company clearly in trouble, what does the move mean for you? Click here for more.
Your Money
How much house can you afford? Click here for more.
For the Lawyers
Arbitration waived. A Texas court of appeals has held that parties that conduct full discovery, file motions going to the merits, and seek arbitration only on the eve of trial waive any contractual right to arbitration. Click here for more.