Economy

Owensboro-Daviess County Tourist Commission

James Barnett of the Daniel Pitino Shelter in Owensboro says his agency is seeing more "first-time" homeless than ever. Barnett says the difficult economy has forced people who had never sought assistance in the past to ask for help.

A nationwide foreclosure settlement with five major mortgage lenders means thousands of Kentuckians will receive direct payments, loan modifications, or principal write-downs. Kentucky was one of the last states to agree to the $25 billion deal with Bank of America, Chase, Wells Fargo, Citi, and Ally Financial. Attorney General Jack Conway says the Commonwealth will receive $58.8 million of the settlement.

More than 40 U.S. states have agreed to a nationwide settlement over foreclosure abuses. The deal would force the five largest mortgage lenders to reduce loans for about 1 million households.

Five years ago, a subprime mortgage firestorm was melting down the U.S. economy, but most analysts didn't see it happening.

Federal Reserve Chairman Ben Bernanke, testifying before Congress in February 2007, said the housing sector "is a concern, but at this point we don't see it as being a broad financial concern or a major factor in assessing the course of the economy."

If he and the vast majority of economists were blind to the economic and financial calamity taking shape then, could they also be missing the start of a huge economic boom now?

A boom? Really?

Industry Analyst Gregg Laskoski of GasBuddy.com says there are many uncertainties in the market place this year, but he believes median gasoline prices could reach or exceed four dollars per gallon by Memorial Day in many parts of the country. A new report released by GasBuddy.com warns that the retail price of gasoline at the start of 2012 was  signicantly higher than just two years ago. Laskoski calls that an "ominous sign" for the rest of 2012.  He spoke with Dan Modlin...........

Bowling Green, KY – A public meeting will be held in Mayfield to get public input on a new study regarding a proposed Western Kentucky corridor for Interstate 69. Officials in Kentucky are hoping that portions of existing roadways can be included in the corridor, to help manage costs. Public Information Officer Keith Todd of the Kentucky Transportation Cabinet says public comments will be accepted on the proposal until the end of November. Dan Modlin spoke with Todd.

Bowling Green – The down economy has more Americans tapping their retirement savings. One business group says nearly half of those changing or losing jobs last year took cash out of their 401k accounts. In this report, Lisa Autry speaks with Bowling Green financial adviser Tony Walker who says it can be risky and expensive to tap retirement funds early.

Bowling Green, Ky – As many older employees try to stay in the workforce longer, some are facing age discrimination. Dan Modlin explores these legal issues with Bowling Green attorney Steve Hixson.

Bowling Green, Ky – Many older workers are hoping to stay on the job longer, in light of recent losses in retirement plan or longer life expectancy. Dan Modlin recently spoke with Howard Eglit of the Chicago-Kent School of Law about a recent study on older workers conducted by the Pew Foundation.

Bowling Green, Ky – First time home buyers across the nation will be scrambling in the next few weeks to take advantage of a government tax credit before it expires.

The deadline for receiving the $8,000 credit isn't until December, but experts say, homes should be under contract much sooner in order to still qualify.

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