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Business at a Glance for July 12, 2009
Staff Report
Published July 12, 2009
Life Line Screening
Residents living in and around Paris community can be screened to reduce their risk of having a stroke or bone fracture. Canaanland Church of God, 7055 Lamar Rd., hosts Life Line Screening on July 23. Appointments begin at 9 a.m.
Four key points every person needs to know: Stroke is the third leading cause of death and a leading cause of permanent disability; 80% of stroke victims had no apparent warning signs prior to their stroke; Preventive ultrasound screenings can help you avoid a stroke; and, screenings are fast, noninvasive, painless, affordable and convenient.
Screenings identify potential cardiovascular conditions such as blocked arteries and irregular heart rhythm, abdominal aortic aneurysms, and hardening of the arteries in the legs, which is a strong predictor of heart disease. A bone density screening to assess osteoporosis risk is also offered and is appropriate for both men and women.
Packages start at $139. All five screenings take 60-90 minutes to complete. For more information regarding the screenings or to schedule an appointment, call 1-877-237-1287 or visit www.lifelinescreening.com. Pre-registration is required.
Life Line Screening was established in 1993, and has since become the nation’s leading provider of preventive screenings.
General Motors
DETROIT (AP) — General Motors completed an unusually quick exit from bankruptcy protection on Friday with ambitions of making money and building cars people are eager to buy.
Once the world’s largest and most powerful automaker, new GM is now leaner, cleansed of massive debt and burdensome contracts that would have sunk it without federal loans.
But GM, whose 40 days under court supervision was far shorter than anyone predicted, faces the worst auto sales slump in a quarter-century.
U.S. trade deficit
WASHINGTON (AP) — The U.S. trade deficit fell to the lowest level in more than nine years in May as exports posted a small gain while the weak American economy pushed imports down for a 10th straight month.
The slight rebound in exports, combined with a slower pace of decline in imports, showed that the nosedive in global activity may be starting to ebb. Delayed revivals overseas likely will hinder a rebound in the U.S., but most analysts still expect the American economy to grow a bit later this year.
The Commerce Department said Friday the deficit narrowed to $26 billion, a drop of 9.8 percent from April and the lowest level since November 1999. Economists expected the deficit to widen to $30.2 billion in May.
Geithner on Stimulus
WASHINGTON (AP) — Despite persistently high unemployment, Treasury Secretary Timothy Geithner said Friday the Obama administration’s economic stimulus plan is on the “expected path.”
Geithner’s remarks came amid waning public support for President Barack Obama’s economic policies. Republican critics say the rising unemployment rate is proof that the $787 billion stimulus has not helped reverse the effects of the recession.
About 2 million jobs have been lost since Congress passed Obama’s stimulus package in February. Unemployment now stands at 9.5 percent, the highest in 26 years. Some Obama allies have been calling for Congress to pass a second stimulus package.
Banks bailout
WASHINGTON (AP) — The Treasury Department is selling its financial stakes in bailed-out banks for one-third less than they’re worth, potentially shorting taxpayers up to $2.7 billion, a bipartisan congressional watchdog says.
The estimated shortfall concerns warrants, financial instruments that allow Treasury to buy shares of the firms at a set price in 10 years. If the stock prices of the banks go up, as they are expected to do, taxpayers could reap a healthy profit.
Treasury obtained the warrants when it began injecting billions into the nation’s largest financial institutions in October. They were considered a “deal-sweetener” — a way to help taxpayers benefit from the upside of a financial recovery that depended on billions of federal dollars.
G-8 Summit
L’AQUILA, Italy (AP) — For all the smiles and upbeat talk, the just-ended Group of Eight summit showed how unwieldy the forum has become, run by Cold War-vintage powers while relegating the world’s fastest growing economies — China, India and Brazil — to observers.
It also showed just how sharp the divisions are between old-world and new-world viewpoints.
The meeting fell short of expectations on many counts, from climate control to trade. The global economic crisis weighed heavily on everyone and complicated efforts to find consensus, resulting in avoiding or putting off some major decisions. Members appeared divided on how soon to roll back stimulus packages, although they agreed now was not the time to start.
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