Veterans Day...Mortgage relief...Wall Street's slump



NEW YORK (AP) President Bush marked his final Veterans Day in office by thanking veterans for serving their country, while also admitting that he'll "miss being commander in chief of such a fabulous group." Bush made his comments during ceremonies rededicating the USS Intrepid Sea, Air and Space Museum on Manhattan's West Side.

Washington (AP) The government and the mortgage industry are about to unveil a plan to help troubled homeowners facing foreclosure on mortgages once held by Fannie Mae and Freddie Mac.

An industry official says the proposal includes easing interest rates so borrowers will not pay more than 38 percent of their incomes on housing expenses.

NEW YORK (AP) A continued poor forecast about the future of the nation's auto industry, combined with quarterly losses by homebuilder Toll Brothers and coffee maker Starbucks, have battered Wall Street. The Dow Jones industrials have been down more than 200 points for much of the day.

CHICAGO (AP) President-elect Obama plans to stay from this weekend's international economic summit being hosted by President Bush. A spokesman says that while the administration has pledged to keep Obama informed, he's sticking with his view that the country has only one president at a time.

CAPE CANAVERAL, Fla. (AP) An approaching cold front is expected to bring rain and thick clouds to Florida, and could delay the launch of space shuttle Endeavor to deliver the expanded living quarters for the international space station. Lift off was scheduled for Friday night on what is to be NASA's first shuttle launch since the end of May.

(Copyright 2008 by The Associated Press. All Rights Reserved.) APNP 11-11-08 1240CST | save this article / add to your favorites list