Newser - Businesshttp://www.newser.com/2008 - Newseren-usNewser Feed GeneratorWed, 03 Dec 2008 22:31:29 CSThttp://www.newser.com/story/44311/foreign-workers-held-in-iraq.html?refid=rss_all_defaultAbout 1,000 foreign workers brought to Iraq with the promise of lucrative jobs have been living for 3 months in Baghdad warehouses under poor sanitary conditions and in possible violation of US military rules, McClatchy reports. A Kuwaiti company that subcontracts with KBR, formerly Haliburton, brought the men from Central Asia and elsewhere after charging them $2,000.http://www.newser.com/story/44311/foreign-workers-held-in-iraq.html?refid=rss_all_defaultWed, 03 Dec 2008 19:34:29 CSThttp://www.newser.com/story/44323/treasury-may-lower-mortgage-rates-to-45.html?refid=rss_all_defaultThe Treasury may try to bring new mortgage rates down to 4.5%—a full percentage point lower than current rates—to revitalize the housing market, the Wall Street Journal reports. Under the proposal, which is still in the early stages, the department would use Fannie Mae and Freddie Mac to lower the rates. The idea comes after months of struggling to hatch a plan to reduce foreclosures and stem falling prices without directly bailing out borrowers and lenders.http://www.newser.com/story/44323/treasury-may-lower-mortgage-rates-to-45.html?refid=rss_all_defaultWed, 03 Dec 2008 16:36:56 CSThttp://www.newser.com/story/44319/dow-rises-173-in-volatile-day.html?refid=rss_all_defaultStocks pulled higher again today after a roller coaster day that saw the Dow swing temporarily into triple-digit losses, the Wall Street Journal reports. Despite dour data on the economy, stocks rose ahead of a November jobs report, due Friday, that is expected to report large losses. The Dow gained 172.60 points to close at 8,592. The Nasdaq closed up 42.58 points at 1,492, while the S&P 500 rose 21.93 points to settle at 871.http://www.newser.com/story/44319/dow-rises-173-in-volatile-day.html?refid=rss_all_defaultWed, 03 Dec 2008 15:25:31 CSThttp://www.newser.com/story/44301/harvard-endowment-drops-8b-in-steepest-loss-ever.html?refid=rss_all_defaultHarvard, the world's richest university, saw its endowment plunge 22% between June and October of this year, the worst loss in its history, the Boston Globe reports. Revenue generated by the endowment, which fell by $8 billion, pays for 35% of the school's operation, and Harvard president Drew Faust expects a total loss of 30% by year's end.http://www.newser.com/story/44301/harvard-endowment-drops-8b-in-steepest-loss-ever.html?refid=rss_all_defaultWed, 03 Dec 2008 15:10:01 CSThttp://www.newser.com/story/44318/trampled-workers-family-sues-wal-mart.html?refid=rss_all_defaultThe family of the Wal-Mart temp worker who was trampled to death by a Black Friday stampede has filed a wrongful death lawsuit in New York's state Supreme Court against the retailer and the Long Island mall where the store is located. The family also filed notice that Nassau County, on Long Island, and its police department will be sued.http://www.newser.com/story/44318/trampled-workers-family-sues-wal-mart.html?refid=rss_all_defaultWed, 03 Dec 2008 14:56:00 CSThttp://www.newser.com/story/44277/israeli-salesmen-the-kings-of-the-mall-kiosk.html?refid=rss_all_defaultChances are that shopping-mall cart vendor offering you spa lotions or whimsical toys this Christmas season is an Israeli transplant who knows how to hustle and haggle. Cart owners avoid hiring shyer Americans because "Israelis are natural-born closers," said one marketing director, and they're edging out other Turkish, Chinese, and Indian immigrants who've long been a staple of the kiosk business, reports the Wall Street Journal.http://www.newser.com/story/44277/israeli-salesmen-the-kings-of-the-mall-kiosk.html?refid=rss_all_defaultWed, 03 Dec 2008 14:20:51 CSThttp://www.newser.com/story/44312/uaw-bends-to-boost-bailout.html?refid=rss_all_defaultThe United Auto Workers agreed today to concessions that may help Detroit get $34 billion in federal assistance, the Detroit News reports. The union’s job bank—which pays eliminated employees 95% of their base salaries—will be suspended, and the UAW will delay billions in payments to its health care trust fund. Though union president Ron Gettelfinger skated inquiries about wage cuts, he said contract modifications were possible.http://www.newser.com/story/44312/uaw-bends-to-boost-bailout.html?refid=rss_all_defaultWed, 03 Dec 2008 14:09:39 CSThttp://www.newser.com/story/44276/guvs-to-obama-public-works-projects-will-take-time.html?refid=rss_all_defaultBarack Obama’s plan to throw hundreds of billions of dollars into state infrastructure projects may not be as effective as he imagines in stimulating the economy, some state officials say. Yesterday, governors told the president-elect that they had $136 billion in projects ready to go, but the National Governors Association says fewer than half could break ground in the next six months. Many would take 24 months, which might be too slow to help the economy.http://www.newser.com/story/44276/guvs-to-obama-public-works-projects-will-take-time.html?refid=rss_all_defaultWed, 03 Dec 2008 13:50:00 CSThttp://www.newser.com/story/44255/auto-bailout-has-detractors-back-in-michigan-too.html?refid=rss_all_defaultThe auto industry has driven Michigan’s economy since Henry Ford set up shop, but not all residents are sympathetic to Detroit’s plight, the New York Times reports. Unemployment runs high, and some wonder where the rescue was when their livelihoods were on the line. “The car companies saw the banks getting a bailout and said, ‘Oh, let’s go!’” one resident grumbles.http://www.newser.com/story/44255/auto-bailout-has-detractors-back-in-michigan-too.html?refid=rss_all_defaultWed, 03 Dec 2008 11:19:00 CST