Low prices boost SF home sales to 5-year Jan. high

Home sales in the San Francisco Bay area reached a five-year high for January, as prices and mortgage rates plunged, a real estate tracking firm reported Thursday.However, many of those purchases involved properties that were subject to foreclosures or short sales, indicating the housing market is far from recovered.The survey by San Diego-based DataQuick also showed the median sales price in the...

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Why the Slowest Investors Win the Race

Anyone who attended kindergarten remembers Aesop's fable about the tortoise and the hare. The story's moral has implications for investors: Slow but steady wins the race.Hare investors try to sprint to the finish line of a comfortable retirement without girding their portfolios against the perils of volatility — frequent ups and downs in asset value. So they tend to lag far behind tortoise investors,...

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US rate on 30-year mortgage hits record 3.83 pct.

WASHINGTON (AP) — Average U.S. rates for 30-year and 15-year fixed mortgages fell to fresh record lows this week. Cheap mortgage rates have made home-buying and refinancing more affordable than ever for those who can qualify.Mortgage buyer Freddie Mac said Thursday that the rate on the 30-year loan ticked down to 3.83 percent. That's the lowest since long-term mortgages began in the 1950s. And it's...

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Governor sues NCAA over Penn State sex scandal

 Pennsylvania Governor Tom Corbett filed a lawsuit on Wednesday demanding that sanctions imposed on Penn State University over the Jerry Sandusky sex scandal be thrown out, saying they threatened to devastate the state's economy.Corbett called the sanctions imposed by the National Collegiate Athletic Association, or NCAA, which include an unprecedented $60 million fine, "overreaching and unlawful.""I...

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India may suspend lawmakers accused of sex crimes

NEW DELHI (AP) — Indian lawmakers facing sexual assault charges could be suspended from office if the country's top court rules in favor of a petition submitted after a gang-rape and murder that shocked the country.Six state lawmakers are facing rape prosecutions and two national parliamentarians are facing charges of crimes against women that fall short of rape, said Jagdeep S. Chhokar, an official...

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After ‘fiscal cliff’ drama, Republicans take it easy at closed-door meeting

WASHINGTON--Finally, a night of calm on Capitol Hill.Beleaguered House Republicans held a closed-door meeting on the Hill Wednesday for what turned out to be a mundane gathering that followed weeks of battles over how to avoid the so-called fiscal cliff. The members, many who just seemed relieved that the fiscal cliff ordeal was, for now, finished, discussed amendments to a series of procedural rules...

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Son of LA Clippers owner found dead in Malibu

LOS ANGELES (AP) — The son of Los Angeles Clippers owner Donald Sterling was found dead of an apparent drug overdose at his Malibu home, authorities said Wednesday.The body of 32-year-old Scott Ashley Sterling was found shortly after 11:30 p.m. Tuesday, Los Angeles County coroner's Lt. Larry Dietz said.The 77-year-old Donald Sterling, a billionaire real estate mogul who purchased the team in 1981,...

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Al-Jazeera buys Current TV from Al Gore

LOS ANGELES (AP) — Al-Jazeera, the Pan-Arab news channel that struggled to win space on American cable television, has acquired Current TV, boosting its reach in the U.S. nearly ninefold to about 40 million homes. With a focus on U.S. news, it plans to rebrand the left-leaning news network that cofounder Al Gore couldn't make relevant.The former vice president confirmed the sale Wednesday, saying...

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Chiefs fire Crennel, make no move on GM Pioli

KANSAS CITY, Mo. (AP) — The Kansas City Chiefs fired coach Romeo Crennel on Monday, but made no move on embattled general manager Scott Pioli despite a 2-14 season marked by blowout losses, fan rebellion and a murder-suicide involving one of their players.Crennel was fired after one full season as coach, and one day after Kansas City matched the fewest wins in franchise history with an embarrassing...

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Reid among 5 NFL coaches sacked in firing frenzy

By lunchtime Monday, five NFL coaches were looking for work.With the regular season ending the day before, the firings came at a furious clip and within a span of 90 minutes the following were sacked: Andy Reid in Philadelphia, Lovie Smith in Chicago, Pat Shurmur in Cleveland, Romeo Crennel in Kansas City and Chan Gailey in Buffalo,Though he also had a losing record, New York Jets coach Rex Ryan held...

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