Fort Wayne Newspapers is open during regular business hours, as usual. It just may take some maneuvering to get here because of the street work underway in front of our building.
The best way is to make your way to Pearl Street, the first street north of Main Street near FWN. From the intersection of Pearl and Ewing, drive two blocks west on Pearl to the FWN visitors lot at Fulton and Pearl on the east side of the building, which is at 600 W. Main St.
If you are coming from the south, drive up Broadway and turn right, or east, into the alley between Berry Street and Main. (St. Joseph Hospital will be on your left.) Turn left at the end of the alley, cross Main Street and park in the visitors lot on your left.
Stumbling block cited in JPMorgan talks
Negotiations between the Justice Department and JPMorgan Chase & Co. have hit a stumbling block that has put the talks at risk, a person briefed on the discussions said Tuesday.
A week and a half ago, JPMorgan tentatively agreed to pay $13 billion to settle allegations surrounding the low quality of mortgage-backed securities it sold in the run-up to the 2008 financial crisis.
One of the unresolved issues in the talks: JPMorgan says it should be able to seek money from a receivership involving Washington Mutual, a failed savings and loan that JPMorgan purchased in 2008, said a person who spoke on condition of anonymity because the source was not authorized to speak by name about the matter.
The receivership is overseen by the Federal Deposit Insurance Corp., the independent agency created by Congress to maintain stability in the banking system.
Dell closes on deal to go private
Dude, youre getting a private company.
Michael Dell and investment firm Silver Lake Partners have completed their $24.9 billion buyout of Dell Inc.
The computer company said Tuesday that its shares will stop trading at the end of the day, closing its quarter-century run as a public company.
Company founder Michael Dell hopes to turn around the struggling business as a private company away from the prying eyes of Wall Street.
Critics say the deal undervalued the company, but the transaction was approved by Dell shareholders in September.
Under the agreement, Dell stockholders are getting $13.75 in cash for each share of Dell common stock they hold. That is in addition to a special cash dividend of 13 cents per share for total consideration of $13.88 per share in cash.
Businesses boosted stockpiles 0.3 percent
U.S. businesses increased their stockpiles in August, a sign that they expected stronger demand for their products.
Stockpiles rose 0.3 percent in August compared with July, when they had risen 0.4 percent, the Commerce Department said Tuesday.
Sales also rose, climbing 0.3 percent in August after a 0.6 percent increase in July. More restocking helps boost economic growth because it means companies are ordering more factory-made goods.
The August increase raised overall inventories to $1.67 trillion, up 3.1 percent over the past year.
Businesses had slowed stockpiling earlier this year.