November 6, 2012 in Business

Survey: Americans say money woes easing

From Wire Reports

According to one gauge, Americans say their personal financial health is the best it’s been in years, even as the uncertainty of the presidential election looms and the expensive winter holiday season approaches.

The Trouble Tracker Index from Consumer Reports, which measures reports of household money woes, fell sharply to 38.7 in its November edition from 50.2 in last month’s tally – its lowest level since the gauge was first calculated in April 2009.

The Consumer Reports data are based on 1,013 interviews with consumers.

Kodak gets approval to end retiree benefits

ROCHESTER, N.Y. – A bankruptcy court judge will allow Eastman Kodak Co. to end retiree health benefits at the end of the year as part of its restructuring.

The photography company reached an agreement last month with a court-appointed committee of retirees to eliminate its current $1.2 billion liability for medical, life insurance and survivor benefits. In exchange, Kodak will pay a total of $650 million in claims and $7.5 million in cash into a fund to be used for future payments.

American Suzuki files for Chapter 11

BREA, Calif. – American Suzuki Motor Corp. on Monday filed for Chapter 11 bankruptcy protection and said it will cease selling automobiles in the U.S. as part of a plan to restructure its business.

The company is the sole distributor of Suzuki Motor Co. vehicles in the continental U.S.

In documents filed with the U.S. Bankruptcy Court in the Central District of California, the company estimated that its debts and liabilities range from at least $100 million to as much as $500 million.

Apple sells 3 million new iPad minis, tablets

Apple Inc. kicked off sales of its new iPad mini and fourth-generation iPad tablets by moving 3 million units, combined, in the first weekend.

“Customers around the world love the new iPad mini and fourth-generation iPad,” said Apple CEO Tim Cook in a statement. “We set a new launch weekend record and practically sold out of iPad minis. We’re working hard to build more quickly to meet the incredible demand.”

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