Shortages stall auto sales in U.S.
Auto sales were weak in May; some observers say consumers should wait until summer’s end to buy because discounts and incentives are scarce at the moment.

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Foreclosure Homes Account for 28 Percent of All Q1 2011 Residential Sales According to RealtyTrac(R) U.S. Foreclosure …
Average REO Discount 35 Percent; Foreclosure Discount Drops to 9 Percent; Average Time to Sell at 176 Days for REOs; 228 Days for Pre-Foreclosures

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U.S. Bancorp Reports Net Income for the First Quarter of 2011
U.S. Bancorp today reported net income of $1,046 million for the first quarter of 2011, or $.52 per diluted common share. Earnings for the first quarter of 2011 were driven by year-over-year growth in total net revenue and a reduction in the provision for credit losses.

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GLENTEL COMPLETES 132-STORE ACQUISITION IN U.S.
GLENTEL Inc. effective today completed the previously announced purchase of 81.5% of Utah-based Diamond Wireless, LLC, a Verizon Premier Retailer operating 132 stores in 11 U.S. states stretching from Washington to Texas, primarily in malls.

Read more on CNW Group via Yahoo! Finance

York Co. foreclosures twice U.S. average
York County’s foreclosure rate increased at nearly twice the national average in the first half of the year and is expected to continue to rise, area bankers and real estate agents say.

Read more on The Charlotte Observer