ING Direct freezes foreclosures

November 24, 2008
Pacific Business News (Honolulu)
In the “spirit of the holidays,” ING Direct said on Monday it will freeze foreclosures through the end of March 2009 and suspend evictions from occupied single-family homes until Jan. 15.
“ING Direct keeps the mortgages we originate; we do not sell them to Wall Street,” said Arkadi Kuhlmann, CEO of [...]

President-Elect Obama plans to ‘give a jolt’ to economy

Atlanta Business Chronicle
November 24, 2008
President-elect Barack Obama unveiled his economic team Monday and said they would begin work immediately on an economic stimulus package.
Obama declined to specify how much money the plan would cost the federal government, but he said it needs to be big enough “so it really gives a jolt to the economy.” [...]

Wal-Mart announces new CEO

New Your Times, November 21, 2008
Wal-Mart’s Mike Duke will succeed Lee Scott as president and CEO of the company starting Feb. 1. Duke is the head of the retailer’s international division. “We think the right time is now, a time of strength and momentum for the company,” a company spokesman said. “Our strategy is sound, [...]

Home Depot Enters $41 Million Sale Leaseback of Distribution Center in Virginia

The Winchester Star – January 12, 2008
The Home Depot Distribution Center at Eastgate Commerce Center has been sold to a private equity firm as part of 10-year lease-back agreement that will keep the massive warehouse operating in Frederick County for at least another decade.
Equity Industrial Winchester LLC and Equity Industrial Winchester LP, both based in [...]

Fannie Mae, Freddie Mac enact mortgage moratorium

Washington Business Journal, November 20, 2008
Fannie Mae and Freddie Mac have told mortgage services to halt foreclosure sales on owner-occupied homes between Nov. 26 and July 9, 2009.
This moratorium is estimated to help more than 16,000 borrowers who would otherwise have been evicted during the holiday season.
Both companies — now owned by the federal [...]