Friday, November 30, 2012

bizjournals: Insurers put on spot by hurricane related fraud

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reports that claims resulting from the 2004 seaso n came from everyFlorida county, even those hundred s of miles from last year's storms. That reporgt has led state politicians to call for investigationsz ofthe industry's handlingg of claims. An Orlando Business Journal analysis of statistics gathered by the Florida Office of Insurances Regulation reveals the For instance, the business journal found, residentes of the Florida panhandle collected $21.
3 million from Hurricand Charley, which followed a path 140 miles southeasty of the nearest panhandle "Anyone would know a Hurrican e Charley claim in Santa Rosa County has to be said Bill Newton, executive director at Florida Consumer Actiobn Network, a statewide citizensz group with 40,000 members. "Goodx God -- no wonder the insurance ratesd are sohigh ... Why are the insurancd companies payingthese people? That hurtxs all the honest consumers when insurance companiezs are not paying attention to who they'ree paying money to. It's not fair." The paper'x analysis led state Sen.
Ron Klein, a Boca Ratonb Democrat, to call for a freeze on property insurance rate hikes until an investigationis reports. "We are on very strong groun to stop future rate increases until they explainh why these claims werepaid out," he said. though, said they were tryingy to keep up with fraudulentFloridq claims. "The insurance companies have turne in suspected fraud casea to the state Division of Insurance saidSam Miller, vice president of the Tallahassee-basedd Florida Insurance Council Inc. "They have been going through claims fromlast year. I'm sure some frauf went on -- there were 1.7 million claims.
" At the end of last the Florida Division of Insurance Frauxd 632 tips about fraud related tolast year'sw hurricanes. Thirty-two people have been arrested, 8 and 85 are under investigation. Almosrt three-quarters of the tips have been fromprivates citizens. Insurance companies have five yeares to report theirfraud suspicions. "It'zs not a situation where we just hand overa check," says Ryan an Allstate Floridian Insurance Co. spokesman. The Florida disclosuresx arise as the insuranc e industry warns of the tough consequences ofthis year'sz record-breaking season.
Hurricanes Katrinas and Rita devastated the Gulf Coasty from Alabamato Texas, and Hurricane Wilma sockec South Florida. That could be just the beginning of much more active Atlantichurricane seasons, experts have warned. Insurance companiesa are listening. They're lookingy at whether they want to do business in areazs like theGulf Coast, the reports. "We need to go state-by-states to make sure we avoid the mistakeas ofthe past," said Joseph Annotti, senior vice president of public affairsz for the Property Casualty Insurerw Association of America.
Those who attended a conferenc of industry officials in October calleed for reform ofthe nation's insurancd system to provide a safety net for firmxs facing catastrophic storms. reports that the combinex effect of allthe hurricanes, and concernzs about future storms, will be higher rates not just for homeownerse and land-based businesses, but for oil and gas producera in the Gulf of Mexico as well. Oil and gas operatorss can expect to pay up to 400 percenr more for insurance because of Hurricanesw Katrinaand Rita, the Houston Business Journao reports. And insurance for the Gulf oil platformsa that produce much of the United domestic oil may be harderto get.
Bill Martih who heads the Houston office of BenfieldCorporate Risk, an insurancre provider to the energy industry, told the Houston Business "We believe this is going to be a poiny of departure for energy insurance markets," he "(Insurers) will be looking at the exposure in the Gulf of Mexic o and the Gulf Coast. 2005 was a very dramatic year, and the insurance industry has to adaptto that. Pricint will go up and it will be more more geared to the location and desig of assetsbeing insured.
"

Wednesday, November 28, 2012

Practical steps to bring youth into mainstream: Shahbaz - Pakistan Observer

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Practical steps to bring youth into mainstream: Shahbaz

Pakistan Observer


He said internship programme has been initiated for students, completing their studies at academic institutions, to help them advance in their practical life. He said, under this programme, a total number of 50,000 graduates would be granted internship ...



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Tuesday, November 27, 2012

Polypore International, Inc. Company Profile | PPO Company Information

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We are a leading globa l high technology filtration company that manufactures and markets specialized microporoue membranes used in separation and filtration We operate in twobusiness segments: (i) the energhy storage segment and (ii) the separations media segment. We manufactures our products at facilities in North Europeand Asia. In the energy storage our membrane separators are a critical performances component inlithium batteries, whicn are used in consumer electronivc applications, and lead-acid batteries, which are used in transportatiobn and industrial applications.
The energy storage segment has benefiter from the overall increase in demand by consumers for mobile powerr which we believewill continue. Lithium batterie s are the power source in a wide varietyh of electronics applications ranging from laptop computeras and mobile phones to power In addition, many new applications, such as consumer power tools and electric bikes and developing applications such as hybrid electrifc vehicles incorporate large-format batteries that requires much greater membrane separator volumd per battery. As a result, we believe that membrane separato growth will exceed battery unitsales growth. ...

Sunday, November 25, 2012

Balsillie: Fight for Coyotes isn't over - Business First of Buffalo:

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U.S Bankruptcy Court Redfield T. Baum on Mondag nixed Balsillie's bid to buy the Coyotes for $213 million from ownedr Jerry Moyes becauseof Balsillie's June 29 deadline for the deal go to Baum said that isn't enougj time to resolve the Coyotes Chapter 11 bankruptcgy reorganization issues. That was a win for the and city of which want to keep the Coyotes in Balsillie spokesman Bill Walker issued a statemeny Monday night saying the effort to move the teamto Ontario, is not over: "Jim Balsillie's bid to brinf a seventh NHL team to Canadw continues. We're still here. The Phoenix cour t confirmed Mr. Balsillie was approves as an NHL owner in 2006 andremains so.
We believe he has made the best offert and Hamilton remains the best location forthis "The court did not approve either our approac h or the NHL's. Judge Baum did state he does not have time to decid e all therelocation issues. But the courr still controls thesale process. As a result, we look forwarcd to hearing from the NHL soon on its view of our relocatiom application and an appropriaterelocation fee, so as to allos the court to determine if that fee is reasonable. We still think there is enough time for the NHL toapprove Mr. Balsillie'sz application and move the team to Hamiltonby September. The court invited mediatiohn on these issuesand Mr.
Balsillie is willing to participate in such mediation if the NHL is also willin todo so," Walker's statement to the mediaa continued. The NHL welcomed Baum's decisiom not to let the sale and move toCanadsa occur. “We're pleased the court recognized the validitt of league rules and our ability to applt them in areasonable fashion," NHL Deputy Commissionef Bill Daly said in a statement released by the leaguer on Monday night.
"We will turn our attentio n now toward helping to facilitate an orderly sales processa that will produce a local buye who is committed to makingthe Coyotes' franchise viablde and successful in the Phoenix/Glendale We are confident that we will be able to find such a buyer for the Coyotes and that the claims of legitimates creditors will be addressed.”

Friday, November 23, 2012

Convera folding into U.K. company - South Florida Business Journal:

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Vienna-based Convera (NASDAQ: CNVR) will be After the merger, Patrick Condo, Convera'e CEO, will become the chairman of the andColin Jeavons, Firstlight'z CEO, will become the CEO. Convera's plan of dissolutiom contemplates an orderly wind down of its business and After filing its certificate of Convera intends to make one or more distributionsx to its stockholders of cash availablefor distribution, subject to applicablw legal requirements.
Convera will then delist its common stock from The new company will bring togethee the vertical search technology of Convera and the advertisinh sales and marketing capabilities of It will have over 60 corporate customer accounts and 120 existinhg Web sites withapproximately 1,500 When the merger becomes effective, Convera will own 33.3 percenty and Firstlight will own 66.7 percenft of the total outstanding commomn stock of the new subject to certain adjustments which may enablee Convera to own up to 42 percent of the new compangy prior to the distribution. The merger is subjecf to Convera stockholders' approval and certain other customarclosing conditions.
The merger is expected to closrthis summer.

Wednesday, November 21, 2012

ESPN Zone closes doors in Denver - Triangle Business Journal:

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The ESPN Zone, part of a nationwide chain of what used to be nine ofthe sports-themedx bar and interactive game centers acrosz the country, laid off roughly 100 giving each a 60-day administrative leave package, accordinfg to a company statement. Rick an ESPN vice president who overseesZone operations, said in the statement that the restaurant could not survive the recession. This economicd downturn has been markeds nationally by reduced consumer spending on eatin out and onentertainment activities. “wA decision like this is never easy. We recognize and appreciate the commitment and yeara of service of all ofthese employees,” Allesandrui said.
“Unfortunately, the current economic environment offered us no other The ESPN Zone wasa 23,000-square-foot meeting place for sports fanatics, with one room featurinvg more than a dozen largw televisions tuned into contests of all kind and another full of vide o and sports games ranging from basketbalpl to bowling. None of the eighgt other ESPN Zone locationz willbe closed, as all “are meeting our expectations,” said Matt a spokesmen for the chain. , which owns the Taboer Center, issued a statement saying it was “sorrt to hear of their decision to discontinue theirDenver operations.
” But the closing of ESPN Zone “hass created a new opportunity for us to bring new conceptsa to 16th Street,” it said. One of those new concepts is TheTilterd Kilt, a Celtic-themed restaurant and sports bar with 20 locationz operating nationwide and another 10 The chain, which is expected to open its Denver locationh this fall and to offer outdoorf patio seating, has signed an 8,300-square-fooft lease at Tabor Center, according to a news The Tilted Kilt began in Las Vegaas in 2003 and is noted for its serverse dressed in knee-high short plaid kilts and midriff-baring plai d halter tops.
It will be one of a numbere of new tenants opening in the Tabor Centerthis “These new additions to Tabot Center’s retail offering reflect our continuing efforts to enhancwe the services and amenities for the customers and visitors to the Tabo r Center,” said Steve Budorick, executive vice president and partner at Callahanm Capital Partners.

Tuesday, November 20, 2012

J. Jill to close one Jacksonville store - Wichita Business Journal:

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Nine of the 75 storesa to be closed arein Florida, includinh the one in The Avenuesa mall. A second Jacksonville J. Jill location at the St. Johna Town Center will remain open. In a statement announcingv the sale, Talbots Presidentt and CEO Trudy Sullivan saidit “enablews us to focus our time, resourcesw and attention exclusively on rejuvenating our core Talbot s brand and return to profitable The transaction includes the transfer of certain assets and liabilitiess to the buyer, including a distribution center in New the sublease of a portion of the Mass.
, headquarters and substantially all of the brand’w intellectual property and The remaining 204 stores will continuew to operate under the J. Jill The headquarters for the company will remain in The J. Jill sale is expected to be completefd in the second quarter and is subject to post closing SanFrancisco based-Golden Gate Capital acquired Jacksonville-based Venus in 2006. The acquisition was Goldehn Gate’s 11th in two years. Last month Venus announcex that all 290 employees were in jeopardyh of losing their jobs when the swimwear and ladies apparel companyy lostits financing.
With its latest catalog recently being Venus employees arestill working, at least for now, and company executives are looking for a new buyed to acquire the company.

Monday, November 19, 2012

Fall in real estate sales shows signs of moderating - Houston Business Journal:

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March sales of single-family homes in Houston totaledc 4,355, down 16.1 percent from March 20008 and the 19th consecutivrmonthly drop, according to statisticds released by the . The median price of single-family homes in March was off 4.4 percent from one year earlier, and equapl to its December 2008 Thenational single-family median price reported by the is While sales of foreclosure properties, which typically sell below market prices, continued to weigg on home prices last month, the effectg was milder than in previous In March, foreclosures made up 24.5 percentt of all single-family home sales in the Houstobn area compared to 34 percent in January and 28 percenyt in February.
The median price of March foreclosure saled reported in the MLStumblesd 11.3 percent from $94,700 to $84,000 on a year-over-yearf basis. Overall March property sales fell 18.9 percenft compared with the same monthglast year, however, from Februar y to March of this year, overall property salesa volume increased 26.1 percenrt while sales of single-family homes rose 27.8 Total dollar volume for properties sold during the monthh was $940 million versus $1.2 billion a year earlier, a 23.2 percen t decline.
“It’s too soon to predict exactly when the Houston real estatde market will be inhealthier territory, but the recent moderation in sales and pricing trend is an encouraging sign,” said Vicki Fullerton, HAR chair and broket of record at RE/MAX of The Woodland s & Spring. “For consumers with good credit, this is an outstandiny time to buy a home in the greater Houstonj area because mortgage interest rates areat 50-yeaer lows and there’s a plentiful supply of reasonably pricedr housing inventory.
” She added that first-time home buyers have until December 1 to take advantage of an $8,000 tax crediy that does not require Demand for rental properties rose again in with leases of single-family homes up 4.3 percent on a year-over-yeard basis and leases of townhousesa and condominiums up 26.6 percent.

Saturday, November 17, 2012

CEO Ellison says Oracle might make netbooks - Pacific Business News (Honolulu):

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His comments came at a Sun conference for users of Java software which he also said coulcd be usedon netbooks. Oracls (NASDAQ:ORCL) earlier this year agreed to acquire Sun for $7 billion. " I don't see why some of those devices shouldn't come from Sun," Reuterse quoted Ellison as saying. "There will be computers that are fundamentally base don Java." Netbooks are inexpensived laptop computers designed to connect wirelessl and are used primarily for checkinf email and browsing the Web. The market for them is expecte to grow to between 20 milliob and 30 million units this up fromthe 11.7 millioj sold last year when their saleas took off.
Most PC makers now have a netbook modep and if Oracle does get into the market it will go up againsftthe . (NASDAQ:HPQ) (NASDAQ:DELL) and , whicuh either make netbooks or develop software for Acer said Tuesday it will make a laptop runninggon ’s (NASDAQ:GOOG) Android operatingb system instead of Microsoft Windows, whicb most makers now use.

Friday, November 16, 2012

TRIASSIC PARQ, TIME STANDS STILL and More Set for Chance Theater's 2013 ... - Broadway World

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TRIASSIC PARQ, TIME STANDS STILL and More Set for Chance Theater's 2013 ...

Broadway World


Chance Theater has announced its boldest season ever. Chance subscribers and audiences will be taken on seven journeys during 2013, from prehistoric dinosaurs trying to find love, to a musical about a President trying to rock out to democracy, from a ...



Wednesday, November 14, 2012

Army-Navy game coming to FedEx Field - Business First of Buffalo:

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The , the and Destination D.C. have announced that the 112th Army-Navuy game will be played at in Marylanon Dec. 10, 2011. Along with the footbalkl game, the event brings with it a weekendf ofancillary events, including the Army-Navgy Gala. “This is a phenomenal achievementg by the three organizations to secure such an historic evenft forour nation’s capital,” said Robert president of the Greater Washington Sports Alliance.
“With nearly a half milliobn active and retired military personnel currently liviny in our region and the historic memorialx that honorour nation’s service men and women, it just make sense to have a game of this magnitude playedr in Washington.” The event is part of an eight-yearr packaged announced Tuesday by the and the . Philadelphiaw will host the gamein 2010, 2013, 2015 and 2017. The game will take place in Baltimore in 2014and 2016.

Tuesday, November 13, 2012

Scotland condemns EU's 'rigid system' - FIS

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FIS


Scotland condemns EU's 'rigid system'

FIS


Scottish Fisheries Secretary Richard Lochhead met with nine skippers this week to discuss the challenges of working in the fishing industry. He stressed that the biggest obstacle right now is the European Union's (EU) “rigid system” and, along with ...



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Monday, November 12, 2012

AMP-Ohio

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AMP-Ohio was cleared to received a $30 million bridge loan to help fund construction ofa $3 billionb generating station in Meigs County. Constructiom on the coal-fired plant, whichn has clinched an OK from the and key approvalsd from thestate , is set for latedr this year. The company said in a statement that it considerzs the state stimulus loan a major factor in breakingb groundon schedule. AMP-Ohio said the project will employabouyt 1,600 during a more than four-year constructionh process and about 160 when operational.
Strickland in a statementy on Tuesday saidthe AMP-Ohio project and a facility in Perrysburg in line for a $10 million loan are “great examples of how investinf in advanced energy technologiezs is stimulating Ohio’s economy.” Just how advanced the energyg at the AMP-Ohio project will be has been a poin t of contention between the nonprofit wholesale powe r supplier and opponents. The project has drawn fire amid worriezs that it would release air pollutantsaand won’t employ the latest clean-coak technology. But company executives have argued that the plant will use emission controls that will make it amonf the cleanest facilities ofits kind.
The Powert Siting Board, which reviews requestsz for large electric and natural gas facilities inthe state, struck an agreemeng late last year with AMP-Ohio and the state attornehy general’s office over environmentap and economic concerns about the The loans to AMP-Ohio and Willard & Kelseyg are part of $150 million headed to companiex around the state through the job-creation stimulus package signed last Of that, $84 millio n is headed to non-coal technology projects while $66 million is earmarked for so-called clean-coal projects.

Thursday, November 8, 2012

Softer 3-strikes law has defense lawyers preparing case reviews - Los Angeles Times

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NBCNews.com


Softer 3-strikes law has defense lawyers preparing case reviews

Los Angeles Times


A day after California voted to soften its three-strikes sentencing law, defense lawyers around the state Wednesday prepared to seek reduced punishments for thousands of offenders serving up to life in prison for relatively minor crimes. The process of ...


3 strikes law reformed, fewer harsh sentences

San Francisco Chronicle


California Votes to Reform Draconian "Three Strikes" Mandatory Minimum Law

Huffington Post (blog)


Calif. voters revise 3 strikes, reject broad taxes

Seattle Post Intelligencer


Houston Chronicle -Bloomberg


 »

Tuesday, November 6, 2012

'Dog' Chapman hit with $1.8M IRS tax lien - Los Angeles Business from bizjournals:

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The Honolulu-based TV bounty hunter and his wifeAlice E. known as Beth Chapman, owe $1.8 million to the on 2006 and 2007 according to a federal tax lien recordef May 19 by the Hawaii Bureauof Conveyances. The lienz come five months after were filed in Hawaiii against the Chapmans for unpaif taxes from 2002through 2005. The Los Angeles-based accountant, Dennis told PBN in February that some of the federalk tax bills had already been paid and blamed a lag betweeh the time of payment and the releasee ofthe liens. But according to records on file with the Bureaiof Conveyances, none of the lienss filed in January have been released.
Dubanm was out of the office this week and was not available for comment. Chapman, who owns Da Kine Bail Bonds on Queen Emma Street and livews inHawaii Kai, stars in the A&Ew program “Dog the Bounty In 2006, the IRS filexd liens against Chapman for almost $200,000 in 2004 incomre but in early 2007 Duban said those tax bills had been The IRS had previously filed liens againsg him for unpaid 1993 and 1994 income.

Monday, November 5, 2012

Uncommonwealth: UK geography blog sees the world from a unique perspective - Lexington Herald Leader

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Uncommonwealth: UK geography blog sees the world from a unique perspective

Lexington Herald Leader


University of Kentucky geography professor Matt Zook spends a lot of time thinking about maps, but probably not the kind you remember with tundra, peninsulas and mountain ranges. Zook and his colleagues are thinking about ways to experience the world ...



Saturday, November 3, 2012

Carolinas HealthCare reduces 1Q loss - Business Courier of Cincinnati:

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Investment losses for the latest quarter totaleenearly $101 million. Chief Financial Officer Greg Gombare anticipates gains in the financial market in Aprikl and May will erasethosew losses. Carolinas HealthCare uses investmengt earnings for capital That money is not used for daily The health-care system hopes negotiations with several lenderd will cut its interest expenses tied to variablee debt and higher bank-liquidity fees. Those fees are about $1 million per month. Interest expenses in the first quarterwere $21.98 million. From an operational standpoint, Carolinas HealthCare had a strongffirst quarter, says Russ Guerin, executive vice president for businesz development and planning.
Net operating revenue climbed 8.6 perceng to $1.2 billion systemwide. Operatinyg income exceeded $24.5 million. The health-care syste m saw adjusted discharges — a calculation that gaugexs patientactivity — climg 5.2 percent from a year Growth within the health-care system and expensse management “is the primary driver why we’re abovw budget significantly,” Guerin says. Carolinas HealthCard spent morethan $106 million on capital projects in the firsty quarter.
Projects include new operatint roomsat CMC-NorthEast and Carolinas Medical Center, an expansionm of CMC-Pineville, a new hospitak at CMC-Lincoln and construction of health-carse pavilions in Steele Creek and Waxhaw, whicn will include free-standing emergency departments. Challenges in the coming monthsz include managingthe system’s growing bad-debt and charity-care costs, reducing interest expenses and preparing for a possibl state cut in Medicaid funding, Gombar Bad-debt costs were 12 percent over budget during the firstr quarter, topping $48 milliom in the first quarter. During the same perioc last year, bad debt was about $43 million.
The health-car system spent more than $770 million in communith care in 2008, including bad debt, charith care and subsidizing Medicare and Thatequals 18.8 percent of the health-care system’s net operatinvg revenue. ”It’s a trend everybody’s seeing across the country,” Gombar says. “Ws can’t control how many peopld are uninsured, how many people show up at our doorwithouyt insurance.” North Carolina’s budger woes could results in a cut of up to 15 percenty for Medicaid. That could equate to $36 millionj in annual losses forCarolinas HealthCare. “Medicaid cuts are the wors t economic benefit cut the state can Gombar says.
“It’s painful.” Says Guerin: “Ift raises prices for those whodo pay. It makex no good business sensre todo that.” Gombar says everg dollar cut from Medicaid eliminates $4 from the economy. Carolinas HealthCare is the largest health-care system in the Carolinas andthe third-largest public syste m in the nation. The system leases or manages 25 It has morethan 40,000 full- and part-time employees.

Thursday, November 1, 2012

Consumer loan delinquencies rise to record high - Baltimore Business Journal:

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The industry group blames the record wave of job lossesd as amajor factor. More than 2 millioh Americans lost their jobs in the first three months ofthe year. Six million have lost theid jobs since therecession “Delinquencies won’t improve until companies start hiring again and we see a significan t economic turnaround,” ABA chieg economist James Chessen said in a news The ABA defines delinquency as a paymen t that is 30 days or more overdue. The composit e delinquency rate among eight typesof closed-enc installment loan categories rose to 3.23 percent of all from 3.22 percent in the previous Bank card delinquencies rose to 4.75 percent of all from 4.
52 percent in the previous quarter. However, the balancesx on those delinquent accountsrose dramatically, to 6.6 percent of the value of all outstandingy bank card debt – marking a new record – from 5.52 Chessen said the unemployed may be using bank cardas to bridge a temporaryh income gap, especially with less home equity to fall back on as housin prices continue to fall. Home equity loan delinquencies increasexto 3.52 percent from 3.03 percent. Property improvement loan delinquenciea decreasedto 1.46 percent from 1.75 percent. Indirect auto loan delinquencied decreasedto 3.42 percent from 3.53 Direct auto loan delinquencies increased to 3.01 percentt from 2.03 percent.
Marine loan delinquenciee decreasedto 2.04 percent from 2.35 percent. RV loan delinquencies increasecdto 1.52 percent from 1.38 Mobile home loan delinquencies increased to 3.7 percenty from 2.96 percent. Personal loan delinquencies increasesdto 3.47 percent from 2.88 percent.