William Roman wants to borrow money, but his bank won't lend him any more. So he's turning to his local pawn shop.
For Roman, a loan from the pawn shop is a lot easier to get. He doesn't have to fill out an application. The people at the pawn shop don't check his credit — all they want is something valuable, something they call sell if Roman doesn't pay them back.
"I've pawned laptops, PlayStations," says Roman. "If I'm not using it, then I'll just go and pawn it."
The financial crisis in Greece has devastated the country's manufacturing sector, which has lost more than 30 percent of its jobs in the past three years. But at one factory in an industrial center in the north, workers have taken matters into their own hands.
Inside the cavernous factory on the outskirts of Thessaloniki, eight middle-aged men are filling bottles with a vinegar-based fabric softener that's scented with fresh lavender.
The news out of Detroit has been grim of late, but there are some bright spots coming from one corner of the Motor City. On Thursday, General Motors posted its 14th straight profitable quarter since emerging from bankruptcy. Ford announced its 16th consecutive profitable quarter Wednesday, and Chrysler is expected to offer good news soon as well.
Federal prosecutors finally brought their case against SAC Capital, the giant hedge fund that for years has outperformed almost all of its competitors. Prosecutors say they know why. The firm encouraged the use of illegal insider information and trading on that information became a part of the firm's culture, according to the indictment.
In the high-profile civil case against Wall Street titan Steven Cohen, federal authorities accuse the hedge fund head of allowing insider trading within his ranks. Cohen's lawyers offered up a defense fit for the digital age: They claim he didn't see a key, incriminating email because he gets too many messages — an estimated 1,000 a day, and opens only 11 percent of them.
After what is rumored to be a multimillion-dollar naming deal, the iconic Cowboys Stadium will be called AT&T Stadium from now on.
In a press release, AT&T said part of its attraction to the deal was that Dallas is the company's home. Cowboys owner Jerry Jones said in a statement that the naming deal ties the team with "one of the world's strongest and most innovative companies."
Organic egg farmers are divided in their reaction to a new FDA proposal that's intended to reduce the risk of salmonella infection among free-roaming chickens. They even disagree about what the document, called "Guidance for Industry," actually requires.
Federal prosecutors have filed criminal charges against one of the most famous and successful hedge funds in the world. The government alleges that SAC Capital Advisors is criminally responsible for insider trading that went on at the firm.