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Latest News

Workers failing to save enough for retirement, study finds

Less than one-fourth said they're saving more than they were year ago
January 28, 2010
When it comes to their retirement, America's 50-somethings seem to be in a state of denial. Although the economic downturn has forced pre-retirees ages 50 to 59 to consider working years longer than they had hoped, their current rate of savings is
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—Staff photo by David Cole

Waterford on South Hill launches big upgrade project

Poor economy, however, causes ebb in occupancy and cottage project to stall
January 28, 2010
David Cole
The Waterford on South Hill retirement community has launched a multimillion-dollar facelift of its main building on its campus, but also is experiencing the effects of a difficult economy, with higher-than-normal vacancies. Meanwhile its cottage
Read More

Boomer surge said likely to alter economy

Nearly half of employers surveyed expect negative impact, sociologist says
January 28, 2010
News Wise
As millions of baby boomers prepare to retire, "the inevitable talent drain threatens to alter the national economy," says Ithaca College sociologist Stephen Sweet, referring to a recent report he coauthored, released by the Sloan Center on Aging &
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—Staff photo by Jeanne Gustafson

Senior issues relegated to defensive position this year

Continued funding concerns trump policy discussions this session
January 28, 2010
Jeanne Gustafson
The name of the game is defense for advocates of the the long-term care industry as they do battle during Washington's legislative session this year.As the Legislature tackles a supplemental budget for the remainder of the current biennium, to a
Read More
—Staff photo by Mike McLean

Senior-living projects wilt, shift

With bad economy, developers cancel one here, postpone another, revise focus on third
January 28, 2010
Mike McLean
Senior-living projects here are faltering or changing direction or timing at least partly due to continuing recession-related uncertainties.In status changes to three of them, plans for a $14 million skilled-nursing center on the South Hill have
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—Staff photo by David Cole

Title insurers weathered housing slump with cutbacks

First-time-buyer credit brought much-needed help to sector last year
January 28, 2010
David Cole
As the housing industry goes, so goes the title insurance industry, and with the big slump in home sales both here and nationally, companies here that provide title insurance have had to weather a difficult storm along with the sector they home to
Read More
—Staff photo by Kim Crompton

Wheatland extends growth run amid industry bleakness

Bank posts solid earnings despite first full year of costs from four added branches
January 28, 2010
Kim Crompton
Wheatland Bank, skirting the turbulent waters that have wreaked havoc with many financial institutions around the country, says it recorded net income of more than $1 million last year, added to its record loan growth of the prior year, and had
Read More

Learning investing lessons from Bernie Madoff scandal

Do your research, heed red flags, and don't put faith in friends, enforcers
January 28, 2010
Financial Planning Association
One of 2009's biggest personal finance stories was the capture of Bernard Madoff, creator of the biggest Ponzi scheme in history. If you read the headlines and told yourself it didn't affect you because you weren't rich enough to be snared by such
Read More

Credit unions scramble to meet new cost

Special assessment to rebuild deposit insurance fund could double in 2010, institutions say
January 28, 2010
Jeanne Gustafson
Credit unions here say they've been finding ways to absorb hefty new assessments last year to help replenish a national deposit insurance fund that was tapped to help out two big institutions in distress. They fear this year's assessments could be
Read More
—Staff photo by Mike McLean

Commercial projects take a hit in credit crunch

Regulators said pressuring banks to cut back on loans for construction projects
January 28, 2010
Mike McLean
Lenders' tightened credit requirements for construction loans, spurred partly by heightened regulatory scrutiny, are keeping viable commercial projects from getting off the ground, some finance and development market observers here say.Kate and
Read More
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