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Archive for October, 2009

Bank of America loses $2.24B as loan losses rise

Friday, October 16th, 2009

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CHARLOTTE — Bank of America Corp. says it lost more than $2 billion in the third quarter as its loan losses continued to rise.

The nation’s second-largest bank, which lost $2.24 billion after accounting for preferred dividends, said its losses for failed loans came to almost $10 billion during the July-September period, up almost $1 billion from the second quarter. The bank also added
$11.7 billion to its reserves to cover bad loans.

The company, hurt like other banks by consumers’ inability to pay their bills, said credit problems would continue for the near future. Its earnings follow the pattern set this week by Citigroup Inc. and JPMorgan Chase & Co., which also reported more loan losses during the third quarter.

The company’s stock is down in premarket trading.

(Copyright 2009 by The Associated Press. All Rights Reserved.)

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Bank of America Corp. says it lost more than $2 billion in the third quarter as its loan losses continued to rise.

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Associated poll

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Hazard mitigation strategies discussed at Wrightsville Beach meeting

Friday, October 16th, 2009

The Wrightsville Beach Mitigation Advisory Committee met Wednesday to update its federally mandated Hazard Mitigation Plan.

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NC sheriff renews immigration deportation program

Friday, October 16th, 2009

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CHARLOTTE — A North Carolina sheriff says he’ll continue to use a controversial program that allows deputies to report suspected illegal immigrants after they’re arrested on other charges.

The Charlotte Observer reported Friday that Mecklenburg County Sheriff Chip Bailey signed a new agreement with a federal program that allows deputies to put immigrants into deportation
proceedings. Mecklenburg deputies have placed more than 7,700 illegal immigrants into removal proceedings since the department joined the program in 2006.

Bailey expects fewer immigrants will be deported because the Department of Homeland Security wants the focus on serious offenders. The federal program has been criticized for being used
to round up minor offenders instead of serious criminals.

(Copyright 2009 by The Associated Press. All Rights Reserved.)

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A North Carolina sheriff says he’ll continue to use a controversial program that allows deputies to report suspected illegal immigrants after they’re arrested on other charges.

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Associated poll

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Stimulus funds will help complete Navassa fire department, community center

Thursday, October 15th, 2009

By Ken LittleCityDesk@StarNewsOnline.com

Navassa’s Main Street will undergo a major facelift in the months to come as a new fire station is constructed and a long-needed community center is built.

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Man arrested for allegedy assaulting disabled person with a vase

Thursday, October 15th, 2009

Supply | A man was arrested this week after authorities say he broke into a home and assaulted someone.Joshua G. Carlisle, 21, of Shallotte is charged with breaking and entering, and assault on a handicapped person, according to a spokeswoman with the Brunswick County Sheriff’s Office.

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