Omaha, NE – An attorney specializing in bank acquisitions says it was loans for construction of new homes, and not subprime loans made to homeowners, that led to bank failures.
Bob Monroe is an attorney with Stinson Morrison Hecker. He says banks made about 11 percent of the subprime loans. When those loans came due, many homeowners found they couldn't pay, which led to foreclosures. Monroe says those bad loans were packaged by Wall Street and sold to investors, which hurt the economy.
Omaha, NE – The Omaha Police Department is warning residents about a new scam claiming that some are about to receive stimulus checks.
The web site, www.omahastimuluschecks.com, claims that certain Omahans will receive stimulus checks beginning September 15 of $100 to more than $1,000. According to the web site, the program was set up to stimulate Omaha's economy.
Omaha, NE – A new report shows Iowa's economy is reflecting some of the troubles at the national level.
The Iowa Business Council's third quarter economic indicators show sales and capital spending are down. But Executive Director Elliott Smith says employment indicators are up. The report shows 90 percent of the Business Council's members plan to maintain the size of their current workforce or add jobs in the next six months.
Two new recordings spotlight the rising jazz artist.
By Chris Cooke
Omaha, Nebraska – Violinist Jenny Scheinman is one of today's rising music stars. Her new recording, Crossing the Field, continues to establish her as an important artist. It has been released simultaneously this year with her self-titled debut vocal record.
Bellevue, NE – Offutt Air Force Base is celebrating the opening of a new child development center.
The Center opened Tuesday after more than a year of construction. The 51,000 square foot facility can accommodate more than 300 children ages birth through preschool. The Center was paid for with a $12.9 million federal earmark in the Fiscal Year 2006 budget.
Omaha, NE – The American Red Cross Heartland Chapter has a dozen volunteers at the Gulf Coast for Hurricane Gustav recovery efforts.
Heartland Chapter CEO Tina Price says those volunteers were sent along with all of Nebraska's Emergency Response Vehicles. They'll spend the next three weeks manning shelters and providing assistance to hurricane victims.
Omaha, Nebraska – Join us as KIOS presents more highlights from the 2007 Detroit Jazz Festival on Friday August 29th at 7:00PM.
The Detroit Jazz Festival was founded in 1980 and has become the largest free jazz festival in North America. In 2007, the JazzTimes Readers Poll ranked the festival in the top five. The 2007 festival was billed as "The Rumble in the Great Lakes" honoring the jazz roots of Detroit and Chicago and a friendly on stage challenge between artists from the two cities.
Omaha, NE – The Kansas City Royals have renewed their player development agreement with Omaha for two more years.
Omaha Royals President Alan Stein announced the contract extension Thursday. It means the Omaha Royals will continue to be an affiliate of the Kansas City team through 2010. That affiliation is the second-longest running one in Major League Baseball.
Omaha, NE – National economic troubles aren't trickling down in to Omaha's economy, according to new numbers from the Greater Omaha Chamber of Commerce.
Scott Strain puts together the Omaha Chamber's monthly economic indicators report. He says the education and healthcare, professional and business services, and financial sectors have added a net 3,000 jobs over the past year through July.