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In his closely watched annual letter to shareholders, Berkshire Hathaway Chairman Warren Buffett said its businesses related to home construction struggled again last year, though he predicted a housing recovery could begin within a year. Buffett’s letter, released over the weekend, hardly mentions Berkshire’s furniture stores — Nebraska Furniture Mart and its Homemakers division, R.C. . . . → Read More: Warren Buffett Predicts Housing Recovery Not so certain about jobs. The Consumer Confidence Index jumped nearly six points in February to 70.4, its highest level in three years, The Conference Board reported Tuesday. The index, based on a survey done through Feb. 10, was up from 64.8 in January. Rising optimism about the future contributed to the gain. The Present . . . → Read More: Consumer Confidence at Highest Level in 3 Years High-end retailer Robb & Stucky filed for Chapter 11 bankruptcy protection Friday after years of struggling in some of the hardest hit housing markets in the country. The Top 100 company, which operates large full-line stores and smaller Robb & Stucky Patio units in Florida, Las Vegas, Scottsdale, Ariz., and Plano, Texas, listed both assets . . . → Read More: Robb & Stucky in Chapter 11 The Obama administration has released a much-anticipated proposal for overhauling the troubled U.S. mortgage market. In a 32-page report, “Reforming American’s Housing Finance Market-A Report to Congress,” the government suggests incrementally winding down Fannie Mae and Freddie Mac and also recommends reducing the government’s now-key role in housing financing. The report suggests phasing in a . . . → Read More: Proposal to Limit Government’s Mortgage Role A judge in Portland, Maine has upheld a jury verdict that awarded $7.3 million in damages for emotional distress to a furniture and bedding retailer who contended he was double-crossed by a law firm he hired, according to a report in The Portland Press Herald. Peter Redman, who now operates Priceless Mattress & Furniture in . . . → Read More: Bedding Retailer’s Emotional Distress Case Upheld |
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