| Volume 35 Number 11 |
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The People’s Lawyer’s Tip of the Day
Texas has a lemon law. It applies to new cars, and gives you substantial legal rights against the manufacturer. A car is a lemon if it has been in the shop four or more times for the same problems, or two or more times if the problem is a safety defect. Click here for more.
Writing With Libel in Mind
Public Citizen has released a guide for bloggers and non-profit organizations about writing with libel considerations in mind. Nothing can more disable a critic of misconduct by companies or political figures than getting embroiled in a libel suit. Absent a strong anti-SLAPP statute, one who makes trenchant criticisms is never safe from such litigation, but it is important to know how to write - and check - such criticisms in a way that will avoid litigation or, at least, give the best chance of early exit from litigation with finances intact. Click here for more.
7,500 GM Employees Take Buyout
Nearly 12% of all hourly employees at General Motors ("GM") agreed to take a buyout to leave the company. GM now has under 55,000 factory workers remaining. Using this program, GM has eliminated 6,000 jobs since 2006. GM received $13.4 billion in federal funds avoid bankruptcy and has requested an addition $16.6 billion. Will GM survive? Click here for more.
Foreclosure Prevention Scams
When a consumer falls behind on his or her mortgage, he or she may be enticed to grab the first lifeline available. Save yourself from a scam. Here are five important questions to ask before you commit to hiring anybody. Click here for more.
Your Money
What is the return on my stock if I sell it now? Click here for more.
For the Lawyers
Rate hike does not violate TILA. The Seventh Circuit has held that a bank can apply penalty interest rates to the entire billing cycle in which a consumer's default occurs. The court noted, "So far one court of appeals and at least six district courts have interpreted the ambiguous Comment 1 to the ambiguous ยง226.9(c). All have held, as our district court did, that banks may apply higher, penalty rates of interest to the entire billing cycle in which the consumer's default occurs." Click here for more.