| Will a key interest rate cut make a difference in the sluggish housing market?
(WHAS11) - It's usually an exciting time of year for local real estate agents when more homes are placed on the market and more people are out looking. But right now home sales are still sluggish. Will a key interest rate cut announced one week ago make a difference? It's mixed news from the greater Louisville association of realtors. While home sales are down 14%, the average sale price this year is up about 4 percent. But if you're aiming to buy or sell a house, don't expect any new help from mortgage rates. .
Market owners indicted for tax evasion
The owners of a Cadillac market were indicted on federal charges Wednesday. Timothy Walraven, William Walraven, Jr. and Karen Zaborowski were indicted by a Michigan Grand Jury on federal tax evasion charges. According to the indictment, the Walravens skimmed money from their various businesses and concealed in their respective residences. .
Motorola to split into two companies
Motorola plans to split into two companies next year amid pressure from billionaire investor Carl Icahn to break off the money-losing mobile-phone business, exiting a market it created 25 years ago. One company will focus on handsets and the other will sell network equipment, cable TV set-top boxes and two-way radios -- businesses that are profitable and growing faster.The board is looking for a new leader for the phone business, Motorola said in a statement Wednesday. The company's Plantation facility contains engineering, sales and marketing functions for its handset business and serves as Motorola's Latin American headquarters and its enterprise and government unit. The site employs about 2,500 people. It's unclear how a spinoff would affect the Plantation operations.
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