Tension over the European debt crises was exacerbated as the exchange rate for the Euro fell below $1.30 today. The major US indices were down over 1 percent as a result. 30-year Treasury bond yields are at 2.93 percent, a record low, further signalling a lack of confidence in the long term prospects for the economy. In brighter news, OPEC announced that it would be increasing its oil production, though analysts are skeptical that the magnitude is enough to have a real impact on world oil prices. Chinese officials announced that they would be levying tariffs as high as 12.9 percent for cars imported from the US, prompting General Motors (GM) to consider ramping up its local production within that country. Full Post…

Due to the unprecedented real estate market, many people are facing the very difficult question of whether to let their underwater homes go by short sale, foreclosure, or surrendering the home during bankruptcy. In many cases a short sale may be the best option; however, in cases that involve recourse loans, it may be in your interest to surrender the home through bankruptcy.

Many people are not aware that in Arizona, a second mortgage or line of credit that was not used to purchase the home is a “recourse loan.” This means that you may still be liable for that debt even after the short sale or foreclosure has taken place. Unless the bank agrees to waive the balance of what’s owed, you will likely be sued for the balance. It is

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Bed Sores, Pressure Sores and Decubitus Ulcers were again the most common medical errors found in the year 2010 closely followed by foreign objects left inside patients after surgeries says Nursing Home Abuse and Neglect Lawyer Steven Peck.
The Department of Health released its 2010 Medical Error Report on It cited numerous stage three or stage four bed sores after hospital admissions–the most common problem in four of the last five years–and secondly foreign objects left behind in residents after surgeries.

Other common mistakes were falls resulting in deaths or disabilities and surgeries on the wrong body parts.

Medication errors resulting in deaths or disabilities have also been a major problem.

Last week, AMR Corp., owner of American Airlines, filed for Chapter 11 bankruptcy at the U.S. Bankruptcy Court for the Southern District of New York.

AMR said that filing for bankruptcy is the best thing for the company and their customers at this time.  American Airlines has considered filing for bankruptcy for over 10 years after struggling to make profits and losing more than $11 billion.  A recent increase in fuel prices led executives to finally seek bankruptcy protection.

American Airlines currently has about $4.1 billion in cash and investments, according to the bankruptcy filing.  These assets will allow them to continue operations while they reorganize their business and pay off debts.  O

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