| Volume 34 Number 2 |
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The People’s Lawyer’s Tip of the Day
A good way to protect yourself when you move out of your apartment is to tell the landlord to keep the security deposit as the last month's rent, right? Wrong! Under Texas law, withholding your last month's rent could result in a penalty of three times amount wrongfully withheld plus an additional $100. Click here for more.
GM Offers Buy-Outs
GM is offering buy-outs to all of it's hourly employees. The hope is to cut costs by giving workers an incentive to leave voluntarily. GM plans to give the hourly workers $20,000, as well as a voucher good towards the purchase of a GM car worth $25,000. Additional incentives may be available for those with qualifying retirement accounts. Will this move help keep GM above the red? Click here for more.
Foreclosures Dominate Home Sales
The real estate market has been in a downward spin for months. As a result, foreclosure homes, short sales, and other distressed sales now dominate the market. In some areas of California, foreclosures make up nearly 60% of the market. Market researchers estimate $3.3 trillion in home equity was lost during 2008. Has the housing market hit rock bottom? Is there a deal out there for you? Click here for more.
Citigroup Details TARP Usage
Under intense pressure from Capital Hill and American taxpayers, Citigroup released it's first report on the spending of it's portion of the bailout. According to the report, $27.5 billion was earmarked towards the housing market. Citigroup also approved $1 billion in student loans and $2.5 billion in business and personal loans. Citigroup was under fire for a plan to purchase a $42 million jet, but scrapped the plans after public pressure. What else has Citigroup done with your money? Click here for more.
Peanut Recall Raises Ethical Questions
The FDA recently expanded the recall of all peanut products (peanut butter, peanut paste, peanut pieces, peanut meal, granulated peanuts) from the Peanut Corporation of America's Blakely, Georgia plant back to January 1, 2007. Inspections over the last several years found numerous health violations. In fact, the FDA uncovered 12 instances where salmonella was found in peanut products yet they were shipped anyway. In some cases, PCA had the samples retested at a different lab to get clean test results. Despite the massive recall, consumers continue to get sick. A criminal investigation has been opened. Click here for more.
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For the Lawyers
California resident subject to Clickwrap Arbitration Agreement found valid under Virginia law. The U.S. District Court for the Central District of California applied Virginia law, pursuant to a choice of law clause, to conclude that an arbitration clause was not unconscionable. Click here for more.