Wild Child name change

The children’s boutique known as Wild Child — the subject of a feature story in last week’s SYV Journal — has changed its name to Lila and Shani’s Chic Boutique.

 

Business Highlights

by The Associated Press

 

High school seniors get ‘F’ in finance

WASHINGTON (AP) — Young people’s financial know-how has gone from bad to worse.

High school seniors, on average, answered correctly only 48.3 percent of questions about personal finance and economics, according to a nationwide survey released April 9 by the Federal Reserve. That was even lower than the 52.4 percent in the previous survey in 2006 and marked the worst score out of the six surveys conducted so far.

With home foreclosures at record highs, Fed Chairman Ben Bernanke stressed in a speech that young people must sharpen their financial knowledge so they are in a better position to make sound investment decisions throughout their lives.

 

Mortgage assistance plan impact doubted

WASHINGTON (AP) — Americans with mortgages exceeding the value of their homes face long odds of getting help under an expanded Bush administration program aimed at helping distressed borrowers.

With home prices declining rapidly in much of the country, nearly 9 million homeowners have mortgages equal to or greater than their home’s value, according to Moody’s Economy.com.

The Bush administration’s expansion April 9 of a program to help homeowners avoid foreclosure could help some of those borrowers, but it would require significant concessions by reluctant lenders and investors in mortgage-backed securities.

 

American cancels more flights

DALLAS (AP) — Business trips and vacations were disrupted for tens of thousands of travelers April 9 as American Airlines canceled more than 1,000 flights — nearly half its schedule — to fix faulty wiring that could cause a short-circuit or even a fire and explosion.

It was the latest — and largest — in a wave of cancellations at major U.S. airlines that have caused long lines at ticket counters and made flying even more stressful than usual.

Executives at American said safety was never compromised, and they suggested the nation’s biggest airline was the victim of suddenly stepped-up scrutiny by federal regulators.

 

Gas, oil prices hit new records

NEW YORK (AP) — The upward trend in energy prices showed no sign of abating April 9 as gasoline set yet another record at the pump and crude oil topped $112 a barrel for the first time in the futures market.

The national average price of a gallon of regular unleaded gas rose 1.2 cents to a record $3.343 a gallon, according to a survey of gas stations by AAA and the Oil Price Information Service.

With the peak summer driving season still to come and gas following crude higher, the fuel may well reach the retail price of $4 a gallon that the Energy Department has been forecasting.

 

Yahoo, Google test search ad partnership

SAN FRANCISCO (AP) — Yahoo Inc. is surrendering some of its advertising space to Internet search leader Google Inc. in a test that appears designed to frustrate Yahoo’s unsolicited suitor, Microsoft Corp.

The experiment announced April 9 will allow Google to place ads tied to about 3 percent of the queries made in the United States through Yahoo’s search engine — the Internet’s second largest after Google’s.

Without specifying a start date, Yahoo said the Google tests will last for up to two weeks.

 

Boeing 787 launch to be delayed again

CHICAGO (AP) — Boeing Co. pushed back its oft-delayed 787 jetliner by another six months April 9, postponing the jet’s debut in commercial service until the third quarter of 2009.

The move further jolted the company’s credibility and will likely cost it billions of dollars in additional costs and penalties.

The latest delays — the third revision to its delivery schedule and fourth switch in the plans for first test flight — underscore the problems Boeing is having keeping to a schedule while leaning heavily for the first time on outside contractors to do most of the manufacturing work.

The aircraft touted for its potential to be more fuel-efficient than other large jets is now more than a year behind the original schedule.