May 18, 2011 in Business

Briefcase

 

BofA mortgagees offered distress help

Bank of America will launch three days of free seminars and counseling sessions Thursday for its distressed mortgage borrowers.

Spokeswoman Shayna Inman said 40 counselors will be available from 8 a.m. to 8 p.m., Thursday through Saturday, to help customers determine what loan modification or other measures might help them avoid foreclosure.

The bank has notified 2,500 customers within a 200-mile radius of Spokane of the event, she said.

Customers who bring all the required documents may be able to leave the Spokane Convention Center with their problems resolved, she said. If not, Inman said, they will have specific instructions that will get them to that point.

“That is the goal,” she said.

She said the sessions take about three hours, starting with seminars on topics like budgeting, followed by counseling.

For information or to register, call toll-free (855) 201-7426, or visit www.bankof america.com/outreachevent, where a document checklist is posted.

Bert Caldwell

Western Systems is finalist for award

Western Systems and Fabrication Inc. of Spokane Valley is one of 30 finalists for the 2011 Secretary of Defense Employer Support Freedom Award.

Eight of Western’s 25 employees are military veterans. One serving in the Army Reserve nominated the company for the award, which recognizes companies that provide exceptional support for Reserve and National Guard members.

Western maintains the pay and benefits of deployed employees and recruits veterans as well as Reserve and Guard members.

Western was selected from among 4,049 nominations. The 15 winners will be selected this summer.

Bert Caldwell

LinkedIn IPO popular

Online professional networking service LinkedIn Corp. raised the price for its upcoming IPO by 30 percent to $42 to $45 per share. The increase reflects the high demand to invest in the business. LinkedIn is expected to debut Thursday with a market value of at least $4 billion.

Associated Press

Wal-Mart earnings rise

Wal-Mart reported net income of $3.39 billion, or 97 cents per share, in the three months ended April 30. That compares with $3.3 billion, or 87 cents per share, in the same period last year. Revenue, excluding membership fees from Sam’s Club warehouse stores, rose 4.4 percent to $103.41 billion.

Analysts expected earnings of 95 cents on revenue of $102.76 billion, according to FactSet.

Associated Press


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