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City Council approves final Villaraigosa budget of $7.7 billion
The Los Angeles City Council on Thursday unanimously approved Mayor Antonio Villaraigosa’s final budget, expanding key services as several members acknowledged that many city workers will likely get a 5.5% raise in eight months. Councilman Eric...
Tags: Collective Contract, Wendy Greuel, Career and Workplace, Medical Procedures and Tests, Los Angeles Police Department
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Ally settlement may be a boon for ResCap bondholders
Reuters* Paulson, hedge funds will likely make profit on settlement * MBIA, FGIC to recoup about $1 billion * Ally to contribute $2.1 billion to ResCap creditors By Nick Brown NEW YORK, May 23 (Reuters) - While bond insurers MBIA Inc and FGIC Corp receive...Tags: Finance, Mortgages, Insurance, Mutual Funds, MBIA Incorporated
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L.A. City Council OKs Villaraigosa's final, $7.7-billion budget
The Los Angeles City Council on Thursday signed off on Mayor Antonio Villaraigosa's final $7.7-billion budget, setting the stage, as several members acknowledged, for many city workers to get a 5.5% raise in eight months. Council members did not vote to...
Tags: Antonio Villaraigosa, Finance, Herb Wesson, Politics, Wendy Greuel
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Christian Brothers settle suit with 400 sex abuse victims
The Roman Catholic religious order that runs Brother Rice High School in Chicago and St. Laurence High School in Burbank didn't want Brother Edward Chrysostom Courtney in Chicago any longer. So in the early 1970s, the Irish Christian Brothers shipped...Tags: Financially Distressed Companies, Christianity, Crime, Law and Justice, Religion and Belief, Laws
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During Art Nouveau period, lamps featured sensuous, curvy women
Electric lights were first marketed to the public about 1880. It is said that Louis Comfort Tiffany's famous lily lamp with glass shades for light bulbs was the first lamp with a shade that projected light down, not up, like a candle flame. Other lamps of...Tags: Czech Republic, Belgium, China, Companies and Corporations, Toy Industry
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Ally to pay $2.1 billion to settle claims tied to ResCap
Reuters(Reuters) - Ally Financial Inc agreed on Thursday to pay $2.1 billion to settle legal claims tied to its bankrupt Residential Capital LLC unit, nearly triple the amount it initially offered to creditors of the subprime mortgage business. Ally hopes the...Tags: Financially Distressed Companies, Crime, Law and Justice, MBIA Incorporated, General Motors Acceptance Corporation, Manhattan (New York City)
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Breakup Fee for Rythym & Hues Stalking-Horse Bidder Approved (Exclusive)
ReutersMay 23 (TheWrap.com) - A U.S. bankruptcy court judge approved a settlement Wednesday between Rhythm & Hues and JS Communications, ending at least one contentious legal issue stemming from the March sale of the Oscar-winning visual-effects studio. As...Tags: Life of Pi (movie), Auction Service, Companies and Corporations, Economy, Business and Finance, Evan Jones
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Borders gift card holders deserve nothing, judge rules
Reuters* About 17.7 million cards outstanding when chain closed * Tens of millions of dollars of potential claims rejected By Jonathan Stempel May 22 (Reuters) - Borders owes nothing to holders of roughly $210.5 million of gift cards that had not been used by...Tags: Judges, Financially Distressed Companies, Crime, Law and Justice, Borders Group Incorporated (MI), Manhattan (New York City)
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BRIEF-Residential capital llc asks US bankruptcy court to approve Ally settlement
ReutersMay 23 (Reuters) - Ally Financial Inc: * Residential capital llc asks US bankruptcy court to approve settlement with Ally Financial Inc * Ally financial inc to increase contribution to residential capital llc estate to $2.1 billion - court docs * Ally...Tags: Finance, Economy, Business and Finance
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Ally to contribute $2.1 bln to settle ResCap litigation
ReutersMay 23 (Reuters) - Ally Financial Inc agreed to contribute $2.1 billion to Residential Capital LLC to settle claims that it stripped the bankrupt mortgage subsidiary of choice assets, paving the way for ResCap to pay back its creditors. Under the deal,...Tags: Insurance, MBIA Incorporated
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Ally to contribute $2.1 billion to settle ResCap litigation
Reuters(Reuters) - Ally Financial Inc agreed to contribute $2.1 billion to Residential Capital LLC to settle claims that it stripped the bankrupt mortgage subsidiary of choice assets, paving the way for ResCap to pay back its creditors. Under the deal, which...Tags: Insurance, MBIA Incorporated
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Judge rules gifts cards from belly-up Borders bookstores worthless
Those clinging hopefully to the old Borders books gift cards stashed in their drawers or wallets are out of luck, a Manhattan federal judge ruled Wednesday. According to Reuters, there are about $210.5 million worth of such cards that had not been used by...
Tags: Financially Distressed Companies, The Wall Street Journal, Crime, Law and Justice, Sharper Image Corporation, Manhattan (New York City)
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