Business News

Greenspan forecasts 33 Percent Chance for Recession by Year’s End

Greenspan forecasts 33 Percent Chance for Recession by Year’s End

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An interview with Former Federal Reserve Chairman Alan Greenspan told Bloomberg News that a US recession could occur by the end of this year. Greenspan said with a "one-third probability" for recession.

Greenspan continued to tell Bloomberg News, "We are in the sixth year of a recovery; imbalances can emerge as a result."

"Ten-year recoveries have been part of a much broader global phenomenon. The historically normal business cycle is much shorter," Greenspan explained.

Crude oil prices fall for 2nd Day

Crude oil prices fall for 2nd Day

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Oil prices fell 2 percent today. Asian and European stock markets also showed a reduction in price per barrel.

The US crude oil price was $1.57 lower at $60.07 per barrel. Prices bottomed out as low as $59.55 per barrel. London Brent crude oil did similarly going down $1.54 to $60.54 per barrel.

China’s stock market showed a drop last week possibly for the concerns of a slowing global economy, and the demand for oil may also drop off. If Asia markets slow down, there is a slow down in the demand for goods made in China.

512MB Memory Expansion Units for Microsoft’s Xbox360 Game Console Announced

512MB Memory Expansion Units for Microsoft’s Xbox360 Game Console Announced

Xbox 360 Core System

Release date for the 512 MB memory expansion unit will be on April 3rd, and the price is expected to be $49.99 retail. For a limited time the memory unit will come preloaded with Xbox LIVE Arcade game “Geometry Wars: Retro Evolved” from developer Bizarre Creations Ltd. The 64MB memory unit will drop in price by $10 to $29.99.

Currently the Xbox Live Arcade game size is set to 50 MB, this will change up to 150MB size. Xbox Live Arcade offers Xbox360 users to download games online. Microsoft reports that over 20 million games have been downloaded from the Xbox Live Arcade. This website offers a wide variety of games to be created by independent and established game developers and publishers. The games all come with a free trial period.

Desert Community Bank Opens New Branch In Phelan – Includes Drive-Thru Service and ATM Banking - Tenth Location For High Desert

Desert Community Bank Opens New Branch In Phelan – Includes Drive-Thru Service and ATM Banking -  Tenth Location For High Desert

New Phelan Branch

(Best Syndication) The Desert Community Bank opened a branch in Phelan on the southeast corner of Phelan and Johnson Roads. This is the tenth branch and includes a drive through and ATM service.

Other branches that include drive-thru service are in Hesperia, Victorville (12470 Hesperia Rd), Apple Valley, Barstow, Adelanto, and the La Paz and Dunia Plaza branches in Victoville. One of the branches on Hesperia Road in Victorville does not have drive-up service, and neither does their Wrightwood branch.

Coconuts Shut Down On Friday For Alcohol Violations – Poisonous Liquor Allegedly Sold Containing Insects – Selling To Minors Vio

Coconuts Shut Down On Friday For Alcohol Violations – Poisonous Liquor Allegedly Sold Containing Insects – Selling To Minors Vio

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(Best Syndication) The local Coconuts night club was closed down Friday afternoon by the Alcoholic Beverage Control (ABC) of California. Daily Press reporter Katherine Rosenberg says that the new owner will remodel the club and reopen on St. Patrick’s Day as a banquet facility.

Coconuts was closed down for 10 separate violations related to the sale of alcohol. One of the stranger violations was serving “poisonous liquor” after insects were found in the bottle.

But the closing has taught new co-owner Ronald Mather to take things in stride, according to Rosenberg. “When life hands you lemons, make lemonade”, Mather said.

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