Target to match some rivals’ online prices year-round






(Reuters) – Target Corp said on Tuesday it will match on a year-round basis the prices found on the websites of key rivals Amazon.com Inc, Best Buy Co Inc, Wal-Mart Stores Inc and Toys R Us, its latest tactic to hold onto shoppers focused on price.


The move extends an online price-matching program that Target introduced over the holiday season and which was supposed to last only from November 1 to December 16. It also comes after Target last week reported flat sales growth in December at stores open at least a year.






In November Chief Executive Gregg Steinhafel said the retailer was not seeing a lot of price-match activity in its stores.


While shopping online has grown rapidly in recent years, it still represents a small fraction of overall shopping in the United States. Target’s policy of matching online prices differs from policies at several chains, which match only printed advertised prices for items sold at stores.


Target said that throughout the year it will match the price when a customer buys an eligible item at one of its stores and finds the same item at a lower price in the following week’s Target circular or in a local competitor’s printed ad. It will also match the price if the customer finds the same item at a lower price within a week on Target’s website or the websites of Amazon, Walmart, Best Buy and Toys R Us.


Amazon says it offers competitive prices and does not offer price matching when an item’s price drops after a customer buys it, with the exception of televisions. Walmart matches the prices of print ads from competitors. Walmart also says it checks the prices of 30,000 items at competing chains each week to make sure it has the lowest prices.


Best Buy matches the price from a local competitor’s store, a local Best Buy store or its own web site. Toys R Us matches in-store prices and certain online prices.


(Reporting By Jessica Wohl in Chicago and Phil Wahba in New York; Editing by Alden Bentley and John Wallace)


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‘Downton,’ ‘Girls,’ ‘Idol’ and more this January






NEW YORK (AP) — Where once the post-holiday schedule was a blizzard of chilly reruns, January is aburst with premieres and finales.


Already, the much-adored British miniseries “Downton Abbey” has made its much-awaited season return Sundays on PBS.






On IFC on Fridays, the hilarious “Portlandia” is back for its third season of sketch comedy poking fun at the peculiarities of Portland, Ore., starring Fred Armisen and Carrie Brownstein.


And NBC‘s mystery melodrama “Deception” has arrived on Mondays. Meagan Good stars as a detective going undercover at the home of a rich family with whom she was once friendly, to investigate a murder within the clan.


On Tuesday, PBS’ “American Experience” begins a three-week documentary miniseries, “The Abolitionists,” spotlighting Frederick Douglass, William Lloyd Garrison, Harriet Beecher Stowe, John Brown and Angelina Grimke.


Also on Tuesday, the FX drama “Justified” is returning for its fourth season of Kentucky hill-country crime-fighting led by Deputy U.S. Marshal Raylan Givens (series star Timothy Olyphant).


On Thursday, comedic action centers at the White House with the premiere of NBC‘s “1600 Penn.” Josh Gad (“The Book of Mormon”) stars as the goofball son of the incumbent U.S. president (played by Bill Pullman) who keeps the first family in a stir, yet manages to make everything turn out all right by the final fade-out.


The Gallaghers of “Shameless” are a much different family. In this dark comedy, William H. Macy stars as the boozy single father of a brood of kids who manage their ragtag Chicago homestead in spite of Dad’s overindulgences. Also starring Emmy Rossum, it returns Jan. 13 for its third season on Showtime.


Also on Jan. 13, HBO’s comedy “Girls” returns for a second season sure to be at least as ballyhooed, discussed and argued about as the first. Lena Dunham (who also writes, produces, directs and created the series) stars as one of a quartet of twentysomething gal pals in New York.


Right after “Girls,” HBO launches the second season of “Enlightened,” an affecting comedy starring Laura Dern as a confused New Age-y activist who’s bent on changing the world.


What was Carrie Bradshaw like before Sarah Jessica Parker and “Sex and the City”? Find out on “The Carrie Diaries,” which debuts on the CW on Jan. 14. AnnaSophia Robb stars as the high-school era Carrie in this likable prequel.


“American Idol” returns on Jan. 16 on Fox. Veteran judge Randy Jackson will be joined by Mariah Carey, Nicki Minaj and Keith Urban. Ryan Seacrest, as always, is the affable host.


After five seasons, Fox’s lovably inscrutable sci-fi series “Fringe” concludes its head-scratching run on Jan. 18. Stars include Anna Torv, Joshua Jackson and John Noble.


Fox’s bloody suspense drama “The Following” premieres Jan. 21. Kevin Bacon stars as a former FBI agent drafted back into service to chase a serial murderer and his vicious disciples.


My, how Spartacus‘ army has grown! Commanding thousands of freed slaves, Spartacus is primed to bring down the entire Roman Republic as the final season begins for “Spartacus: War of the Damned,” Jan. 25 on Starz. Liam McIntyre plays the rebel leader.


The world of “Dallas” will be rocked during its second season with the death of arch-villain oilman J.R. Ewing (played, of course, by Larry Hagman, who passed away in November while the series was in production). Also starring Patrick Duffy and Linda Gray, this rebooted (so to speak) version of the long-running CBS prime-time soap returns on TNT on Jan. 28.


FX weighs in with an edgy new drama “The Americans” on Jan. 30. It stars Matthew Rhys and Keri Russell as two KGB agents posing as the heads of a normal American household in the 1980s, as they work tirelessly to bring down the U.S. on behalf of Mother Russia.


On Jan. 31, NBC unveils a new medical drama “Do No Harm.” Steve Pasquale (“Rescue Me”) stars as a neurosurgeon with a great bedside manner who inconveniently shares a body with his sociopathic alter ego.


The same night, NBC closes the book on the brilliant mockery of “30 Rock.” This Tina Fey comedy wraps seven seasons of making fun of pop culture, modern life and especially its own real-life broadcast network — which, like the rest of the TV universe, has even more midseason goodies in store come February.


___


EDITOR’S NOTE — Frazier Moore is a national television columnist for The Associated Press. He can be reached at fmoore(at)ap.org and at http://www.twitter.com/tvfrazier


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Health Spending Growth Stays Low for 3rd Straight Year





WASHINGTON — National health spending climbed to $2.7 trillion in 2011, or an average of $8,700 for every person in the country, but as a share of the economy, it remained stable for the third consecutive year, the Obama administration said Monday.




The rate of increase in health spending, 3.9 percent in 2011, was the same as in 2009 and 2010 — the lowest annual rates recorded in the 52 years the government has been collecting such data.


Federal officials could not say for sure whether the low growth in health spending represented the start of a trend or reflected the continuing effects of the recession, which crimped the economy from December 2007 to June 2009.


Kathleen Sebelius, the secretary of health and human services, said that “the statistics show how the Affordable Care Act is already making a difference,” saving money for consumers. But a report issued by the Centers for Medicare and Medicaid Services, in her department, said that the law had so far had “no discernible impact” on overall health spending.


Although some provisions of the law have taken effect, the report said, “their influence on overall health spending through 2011 was minimal.”


The recession increased unemployment, reduced the number of people with private health insurance, lowered household income and assets and therefore tended to slow health spending, said Micah B. Hartman, a statistician at the Centers for Medicare and Medicaid Services.


In the report, federal officials said that total national spending on prescription drugs and doctors’ services grew faster in 2011 than in the year before, but that spending on hospital care grew more slowly.


Medicaid spending likewise grew less quickly in 2011 than in the prior year, as states struggled with budget problems. But Medicare spending grew more rapidly, because of an increase in “the volume and intensity” of doctors’ services and a one-time increase in Medicare payments to skilled nursing homes, said the report, published in the journal Health Affairs.


National health spending grew at roughly the same pace as the overall economy, without adjusting for inflation, so its share of the economy stayed the same, at 17.9 percent in 2011, where it has been since 2009. By contrast, health spending accounted for just 13.8 percent of the economy in 2000.


Health spending grew more than 5 percent each year from 1961 to 2007. It rose at double-digit rates in some years, including every year from 1966 to 1984 and from 1988 to 1990.


The report did not forecast the effects of the new health care law on future spending. Some provisions of the law, including subsidized insurance for millions of Americans, could increase spending, officials said. But the law also trims Medicare payments to many health care providers and authorizes experiments to slow the growth of health spending.


“The jury is still out whether all the innovations we’re testing will have much impact,” said Richard S. Foster, who supervised the preparation of the report as chief actuary of the Medicare agency. “I am optimistic. There’s a lot of potential. More and more health care providers understand that the future cannot be like the past, in which health spending almost always grew faster than the gross domestic product.”


Evidence of the new emphasis can be seen in a series of articles published in The Archives of Internal Medicine, now known as JAMA Internal Medicine, under the title “Less Is More.” The series highlights cases in which “the overuse of medical care may result in harm and in which less care is likely to result in better health.”


Total spending for doctors’ services rose 3.6 percent in 2011, to $436 billion, while spending for hospital care increased 4.3 percent, to $850.6 billion.


Spending on prescription drugs at retail stores reached $263 billion in 2011, up 2.9 percent from 2010, when growth was just four-tenths of 1 percent. The latest increase was still well below the average increase of 7.8 percent a year from 2000 to 2010.


Federal officials said the increase in 2011 resulted partly from rapid growth in prices for brand-name drugs.


Prices for specialty drugs, typically prescribed by medical specialists for chronic conditions, have increased at double-digit rates in recent years, the government said. In addition, spending on new brand-name drugs — those brought to market in the previous two years — more than doubled from 2010 to 2011, driven by an increase in the number of new medicines.


“In 2011,” the report said, “spending for private health insurance premiums increased 3.8 percent, as did spending for benefits. Out-of-pocket spending by consumers increased 2.8 percent in 2011, accelerating from 2.1 percent in 2010 but still slower than the average annual growth rate of 4.7 percent” from 2002 to 2008.


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Sears CEO D'Ambrosio to step down









Sears Holdings Corp. said Monday night that Chief Executive Officer Louis D'Ambrosio will step down Feb. 2, due to family health matters, and Chairman Edward Lampert will add the role of CEO.

The surprise move fuels uncertainty at the Hoffman Estates-based company, which has struggled for years to re-establish itself as a department store in an ultracompetitive retailing industry dominated by low-price giant Wal-Mart and big box and specialty stores.

Shares of Sears Holdings were down 5.6 percent in mid-morning trading to $40.51  on the news.

The decision by Lampert, a hedge fund operator who is the company's biggest shareholder, to take over day-to-day control represents a reversal from his naming of D'Ambrosio as chief executive nearly two years ago after operating with an interim CEO.

"In light of Lou's decision to step down, the board feels it is important that there is continuity of leadership during this important period of transformation and improvement at Sears Holdings," Lampert said in a statement. "I have agreed to assume these additional responsibilities in order to continue the company's recovery and sustain the momentum we are experiencing, as well as further the development of the management team under the distributed leadership model, which provides our business unit leaders with greater control, authority and autonomy."

Sears Holdings, which operates Sears and Kmart, also updated its fourth-quarter earnings outlook Monday night. The company said it expects to report a net loss $280 million to $360 million, or $2.64 to $3.40 per diluted share, for the quarter ending Feb. 2. The loss includes a charge of about $450 million because of pension settlements and an additional $42 million in pension expenses.

Excluding pension expenses, Sears said it expects to earn $132 million to $212 million, or $1.25 to $2 per share.

Analysts polled by Bloomberg had been expecting adjusted net income of about $137 million.

For the fiscal year, Sears said it expects to lose $721 million to $801 million, or $6.80 to $7.56 per diluted share, which includes pension-related costs and other adjustments reported late last year. Excluding those items, the company said it expects to lose $123 million to $203 million, or $1.16 to $1.92 per share.

D'Ambrosio became CEO after working for the company as a consultant. The 16-year veteran of IBM Corp. had been CEO of a telecommunications company before joining Sears.

"I have worked very closely with Eddie over the past two years. I can say this: there is simply no one in the world that cares more about Sears Holdings and has thought more deeply about our company than Eddie," D'Ambrosio wrote to employees.

Lampert gained control of Sears in 2005 after engineering the merger between Kmart and Sears Roebuck & Co. For years, speculation about Lampert's intentions for the company focused on the value of its real estate, but under D'Ambrosio, Sears appeared to pay more attention to retail aspirations.

The company reported improved performance — it beat Wall Street expectations — in the previous quarter, but Sears stock has lost more than 35 percent of its value since November, closing Monday at $42.92, up 1.7 percent.

 Crshropshire@tribune.com | Twitter: @corilyns 

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Illegal immigrant driver's license plan advances in Springfield


















Illinois legislature considers a bill to grant driver's licenses to a quarter million illegal immigrants.















































SPRINGFIELD—





A bill to give illegal immigrants in Illinois a chance to get a special license to drive cleared another hurdle today, winning approval in a committee and moving one step away from the governor’s desk.

Sponsoring Rep. Eddie Acevedo, D-Chicago, could call the measure for a vote today in the full House, where any roll call is expected to be close. The bill advanced to the House floor on a 6-3 vote of a House transportation panel.






The proposal would allow an estimated 250,000 illegal immigrants in Illinois to get three-year renewable license to drive a vehicle. They could not officially be used for other identification purposes, such as for boarding a plane, buying a gun or voting.

To become eligible, a person would have to live within Illinois for at least a year, a provision that would require applicants to provide a copy of a lease, utility bills and the like.

Under current law, people without a Social Security number or proper documentation to be in the country can't get a driver's license and often have trouble getting car insurance.

The proposal won't require somebody to have insurance before applying for a license because insurance is tied to a vehicle, but supporters note it's already illegal to drive an uninsured car whether a person has a license or not.

The bill already passed the Senate. Passage in the House would send the bill to the governor.




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Kuwait sentences second man to jail for insulting emir: lawyer






DUBAI (Reuters) – A Kuwaiti court sentenced a man to two years in prison on Monday for insulting the country’s ruler on Twitter, his lawyer said, the second to be jailed for the offence in as many days.


The U.S.-allied Gulf Arab state has clamped down in recent months on political activists who have been using social media websites to criticize the government and the ruling family.






Kuwait has seen a series of protests, including one on Sunday night, organized by the opposition since the ruling emir, Sheikh Sabah al-Ahmad al-Sabah, used emergency powers in October to change the voting system.


The court sentenced Ayyad al-Harbi, who has more than 13,000 followers on Twitter, to the prison term two months after his arrest and release on bail.


Harbi used his Twitter account to criticize the Kuwait government and the emir. He tweeted on Sunday: “Tomorrow morning is my trial’s verdict on charges of slander against the emir, spreading of false news.”


His lawyer, Mohammed al-Humidi, said Harbi would appeal against the verdict. “We’ve been taken by surprise because Kuwait has always been known internationally and in the Arab world as a democracy-loving country,” Humidi told Reuters by telephone. “People are used to democracy, but suddenly we see the constitution being undermined.”


On Sunday, Rashid Saleh al-Anzi was given two years in prison over a tweet that “stabbed the rights and powers of the emir”, according to the online newspaper Alaan. Anzi, who has 5,700 Twitter followers, was expected to appeal.


Kuwait, a U.S. ally and major oil producer, has been taking a firmer line on politically sensitive comments aired on the Internet.


In June 2012, a man was sentenced to 10 years in prison after he was convicted of endangering state security by insulting the Prophet Mohammad and the Sunni Muslim rulers of Saudi Arabia and Bahrain on social media.


Two months later, authorities detained Sheikh Meshaal al-Malik Al-Sabah, a member of the ruling family, over remarks on Twitter in which he accused authorities of corruption and called for political reform, a rights activist said.


Public demonstrations about local issues are common in a state that allows the most dissent in the Gulf, and Kuwait has avoided Arab Spring-style mass unrest that has ousted four veteran Arab dictators in the past two years.


But tensions have risen between Kuwait’s hand-picked government, in which ruling family members hold the top posts, and the elected parliament and opposition groups.


(Reporting by Mahmoud Habboush; Editing by Mark Heinrich)


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Women dominate UK film’s “rising star” shortlist






LONDON (Reuters) – Actresses dominated the shortlist for the British Academy of Film and Television Arts‘ Rising Star awards on Monday, taking four of the five places.


Juno Temple, who appeared in the 2007 drama “Atonement”, and Andrea Riseborough, best known for her leading role in Madonna‘s biopic of Wallis Simpson “W.E.”, represent British interests on the list.






They are up against U.S. actress Elizabeth Olsen of the acclaimed 2011 drama “Martha Marcy May Marlene“, and Sweden’s Alicia Vikander, who starred in Danish period drama “A Royal Affair” and last year’s adaptation of the novel “Anna Karenina”.


Suraj Sharma is the youngest on the list at 19 and the sole male representative, having been picked from 3,000 hopefuls to star in Ang Lee’s recent 3D picture “Life of Pi” despite no previous acting experience.


The Rising Star Award is handed out on February 10 at the main BAFTA prize ceremony, Britain’s top film accolades. It is the only category voted for by the public, who can cast their votes at ee.co.uk/bafta.


Previous winners of the award aimed at spotting stars of the future include James McAvoy, Eva Green, Shia LaBeouf and Kristen Stewart.


(This story has been refiled to change word in headline to “women” from “females”)


(Reporting by Mike Collett-White, editing by Paul Casciato)


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Books Of Style: Three Books on Becoming a Better You — Books of Style





The Beauty Experiment: How I Skipped Lipstick, Ditched Fashion, Faced the World Without Concealer, and Learned to Love the Real Me, by Phoebe Baker Hyde. Da Capo Press. 248 pp. $16.




Wheat Belly Cookbook: 150 Recipes to Help You Lose the Wheat, Lose the Weight, and Find Your Path Back to Health, by William Davis, M.D. Rodale Books. 352 pp. $27.99.


Making Habits, Breaking Habits: Why We Do Things, Why We Don’t, and How to Make Any Change Stick, by Jeremy Dean. Da Capo Press. 256 pp. $26.


OH, those pesky Mayans. It was bad enough that their ancient astro-forecast led many people to quake all year long for fear that the end of the world was not only nigh but specifically nigh — as in, Dec. 21 nigh. But when, on Dec. 22, the human race discovered that doomsday had come and gone without apparent incident, more Mayan mischief kicked in: mankind found itself with only 10 days to come up with New Year’s resolutions, a necessity too many had assumed would be made moot by apocalypse.


Remarkably, three books have emerged since the nonfateful winter solstice that can help everyone become a finer creature in the brave new world of 2013. All of these books — one about self-image, one about diet and one about habits — would seem, on the face of it, to be counterintuitive. That’s an appropriate attribute for a year that never was supposed to exist.


The first thing you might like to know about “The Beauty Experiment,” a memoir by Phoebe Baker Hyde, is the improbable fact that the author’s picture was taken by a 4-year-old. What woman, what writer, would make such a devil-may-care move? Experiment, indeed. Ms. Hyde’s book is a testament to her hard-won conviction that, when it comes to appearance, externals do not matter. In her early 30s, after giving birth to her first child (a daughter), Ms. Hyde “bought thicker makeup and brighter lipstick” and a flashy red velvet dress, hoping to glamorize the “zombie” she saw in the mirror. A photo of herself in the velvet togs showed her that she looked “not sexy, but shaggy; not ‘Red-Hot,’ but hangdog,” and made her cry, “because I was stupid, vain, heartbroken and ashamed of all of it.”


In February 2007, woebegone and “at war with myself,” she decided to shun cosmetics, hair salons and pricey clothes for an entire year to see if she could shore up her self-esteem by making peace with her unadorned raw materials. The antidote to her feelings of inadequacy, she decided, was “to be free of illusions.” Getting a short haircut at her husband’s barbershop, eschewing lipstick and even earrings, she “dragged an oppressive sense of plain Janeness” around for a month, but soon began to feel empowered by her “Momnisexual” look. After having another child (a son), she stuck with a pared-down approach. These days, she writes, when she spots her reflection in a mirror, she no longer sees “wrinkles, anxiety, zits, or exhaustion, although they are all there. Instead, I see a face, a person, a personality, a life.”


Ms. Hyde’s postpartum funk was caused in part by baby weight she could not shed, but childbirth is not the only spur to extra poundage. Dr. William Davis, a preventive cardiologist in Milwaukee, argued in his best-selling 2011 book “Wheat Belly” that wheat — yes, even whole-grain wheat — the ingredient of everyone’s daily bread, is unhealthy. “I recognize that declaring wheat a malicious food is like declaring that Ronald Reagan was a Communist,” he concedes.


Nevertheless, the doctor not only stuck to his guns, but also issued a manifesto expounding his wheatless worldview, in the form of the “Wheat Belly Cookbook,” which he dedicates to “everyone who has come to understand the liberation that emerges with wheatlessness.”


Over the last decade, Dr. Davis put himself and thousands of his patients who were “at risk for heart disease, diabetes, and the myriad destructive effects of obesity” on wheat-free regimens. He says he watched them not only lose 20, 30, 50, even 100 pounds or more, but also recover from chronic diseases like ulcerative colitis and diabetes.


Investigating these results, he learned that a high-yield hybrid “dwarf” strain of wheat had been developed in the United States in the middle of the last century, and adopted not only here but also around the world. This “Frankengrain” as he calls it, thickens waistlines and causes ills from acne, psoriasis, depression and migraines to arthritis, diabetes, obesity and heart disease. Worse, the doctor contends, it contains a protein called gliadin that stimulates appetite and dupes gullible neurons into craving food the body does not need. In his cookbook, Dr. Davis says that gliadins tempt people to eat 440 calories more per day than their grandparents did. Gliadins are opiates, he explains, which “generate a need for more ... and more, and more.”


Whether or not you’re persuaded, such arguments have played a part in starting the gluten-free wave that engulfs the country. But the doctor warns against assuming that every glitch is gluten. Though he considers wheat the worst offender, he mistrusts other grains as well, and warns gluten-free converts to read labels closely, because “rice starch, cornstarch, potato starch, and tapioca starch” send blood sugar levels soaring.


In his cookbook, with scores of grain-free recipes for breakfast, lunch, dinner and even dessert — brownies, cupcakes and Key lime pie, made with flour ground from beans, nuts and flaxseed — he points another way forward. Cooking, baking and eating without wheat is a “cataclysmic revelation for most people,” he admits. “It’s unsettling, it’s upsetting, it’s downright inconvenient.” Still, he asks, what is a bit of inconvenience, weighed against the rapture of watching a “protuberant, flop-over-the-belt belly vanish?”


If you were to try to give up wheat for the new year, how long do you think you would be able to stick it out before you crumbled and ordered a bagel? Jeremy Dean, a London psychologist and pop psychology blogger, notes in “Making Habits, Breaking Habits” that conventional wisdom holds that it takes the “magic figure of 21 days” to form a new habit. This reckoning turns out to be faulty, Mr. Dean explains, if the habit is complicated or replaces an existing one. Sixty-six days — a little more than two months — is a more reasonable span, he suggests; but 254 days is not out of the question.


Demonstrating how a person might forge a new pattern of behavior, Mr. Dean describes the notional measure of switching to whole-wheat bread from white over a period of several weeks. “I intended to eat more healthily, and now I am,” he explains. Obviously, Dr. Davis would beg to differ — not that Mr. Dean, who addresses generalities, not gastrointestinal realities, and motivation rather than medicine, would care, in all likelihood. “Why, exactly, do you want to make a new habit?” he asks. “Sometimes, the reasons are obvious and don’t need any further soul-searching, but this isn’t always the case.”


This statement hints that he might suspect that the business of making habits and breaking habits, fraught and chancy as it may sometimes be, is not the end of the world.


This article has been revised to reflect the following correction:

Correction: January 7, 2013

An earlier version of this column misstated in a passing reference the equivalent length of time that Jeremy Dean, the author of “Making Habits, Breaking Habits: Why We Do Things, Why We Don’t, and How to Make Any Change Stick,” believes is reasonable for forming a new habit. As the column stated, Mr. Dean believes it is 66 days. But that is equivalent to a little more than two months, not three. 



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BofA to pay $3.6B to Fannie Mae




















CBS MoneyWatch's Alexis Christoforous reports for CBS2. (1/7/2013)




















































Bank of America on Monday announced roughly $11.6 billion of settlements with mortgage finance company Fannie Mae and a $1.8 billion sale of collection rights on home loans, in a series of deals meant to help the bank move past its disastrous 2008 purchase of Countrywide Financial Corp.

The settlements and transactions and other charges will result in Bank of America posting only a small profit for 2012's fourth quarter. The bank is due to report results Jan. 17.






Bank of America is paying $3.6 billion to Fannie Mae and buying back $6.75 billion of bad loans from the mortgage company to clear up all claims that government-owned Fannie Mae had made against the bank.

Fannie Mae and its sibling, Freddie Mac, have been pushing banks to buy back loans they sold to the two companies that never should have been sold to them because the loans did not meet the companies' criteria for purchasing.

Bank of America said most of the settlement would be covered by reserves, and another $2.5 billion, before taxes, that it set aside in the fourth quarter.

A separate settlement over foreclosure delays will result in Bank of America paying $1.3 billion to Fannie Mae, the mortgage company said. Bank of America had already set aside money to cover most of that, but took another $260 million charge in the fourth quarter to cover the balance.

Bank of America also sold the rights to collect payments on about $306 billion of loans to Nationstar Mortgage Holdings and Walter Investment Management Corp. Nationstar is paying $1.3 billion for the right to service some $215 billion of loans, while Walter Investment is paying $519 million for the right to service about $93 billion of mortgages.

Reuters first reported that Bank of America was talking to Nationstar and Walter Investment on Friday.


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Man killed in I-94 shooting




















There is one person dead and another injured after a fatal shooting on the Dan Ryan.




















































An early morning shooting on Interstate 94 near Canalport Avenue left a 22-year-old man dead and another man injured, authorities said.


Both men were traveling northbound in a Nissan Sentra when shots rang out about 2:35 a.m., Trooper Ivan Bukaczyk of the Illinois State Police said.


Following the shooting, the damaged car pulled up to Rush University Medical Center, with two of its occupants bleeding from gunshot wounds.








The driver was not hurt in the shooting, according to a police spokeswoman. A fourth person, who was sitting next to the driver at the time of the shooting, fled from the vehicle at some point, according to the spokeswoman.


Police said they believe the shots came from another vehicle but they have been unable to come up with a description of the other vehicle.


The two men who had been shot were rear-seat passengers. The deceased man was sitting directly behind the driver as bullets hit the body and shattered the windows of the vehicle, the spokeswoman said.


Lavonshay Cooper, of the 4200 block of West Cortez Street. was pronounced dead at 3:05 a.m., according to the Cook County medical examiner's office.


The other man who was shot was transferred to John H. Stroger, Jr. Hospital of Cook County, where he was treated and later released, police said. Reports had earlier listed him in critical condition, the spokeswoman said.


State Police officers located the scene of the shooting and were able to collect evidence, Bukaczyk said.


chicagobreaking@tribune.com


Twitter: @ChicagoBreaking






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