Liz breaking news. The change of management at the top of etrade. Stocks spiked on the news. It is a dow jones report that in essence is saying that there may be a new ceo coming to them from barclays well regarded by at least a london media which is a tough thing to do. This is extremely capable and charming. What does this say about the trade. They might be one of those companies that have floundered and will be taken over by td ameritrade. You bring in a brand new ceo and he is the guy who will get the Company Ready to be taken over or find its footing once again and see what happens. At the moment moving higher by four pennies or half a percent. Watching this story closely. In the meantime. Good afternoon, im liz claman. Welcome to countdown to the closing bell. We have a flurry of buying on wall street. Check out the dow 30. Shades of green led by the old school. Local school tech names like microsoft and intel. Exxon mobile. Boosting the blue chip. Cisco systems, walmart. Hewlett
To compromise the Capital Position of the bank in any way. Reporter also today, ten major banks, including bank of america settled claims they abused the foreclosure system, seizing defaulted homes without proper paperwork. The banks agreed to fix those abuses two years ago, with a casebycase review of foreclosure practices. But that just wasnt moving fast enough, and proved too costly. Bring in todays deal the banks will pay a total of 8. 5 billion. Three billion of that will go to homeowners hurt by the banks; the rest, five billion to assistance programs like loan refinancing, for homeowners who are struggling. It helps current homeowners and its going to help the marketplace at the margin. You know, the con, if there is one, is the fact that well never, it will make it less likely now that well ever get a full accounting of the foreclosure irregularities that existed. And how widespread were they, what were the types of irregularities and what were the full dollar amounts. Reporter
Were canceled today and airlines rushed to make backup plans after regulators around the world grounded boeings 787 dreamliner. Those actions came after the federal Aviation Association ordered the plane out of the air after two incidents where lithium ion batteries overheated. Boeing says it is confident the 787 is safe and says it stands behind the planes overall integrity. This is only the second time in more than 30 years that regulators have grounded a plane. Darren gersh reports. Reporter boeing has spent more than 30 billion developing the 787 dreamliner. One reason for the high cost is boeings decision to upgrade the hydraulics and other mechanical systems with nextgeneration technology that runs on electricity. Youve got generators on board the aircraft that are powering the systems directly with electricity. That, of course, means a lot more juice is flowing through the plane. It also means you need more powerful batteries as backup systems. Reporter investigators from the fe
Lithium ion batteries have a lot of power and of course there are many types of batteries out there and hopefully a substitute can be found, but nothing is absolutely set in stone at this point. Reporter boeing might be able to design a container to prevent or protect fires caused by the lithium batteries. But if the company is forced to use older, larger batteries, engineers would have to re design parts of the 787. Investigators have reached no conclusions, but they will certainly be taking a hard look at every aspect of the 787s battery. I think that the amount of problems there have been with lithium batteries historically would have to lead one to believe that youre not going to certificating an airplane, youre not going to just say this was a bad batch, bring on the next batch until somebody figures out that it was a bad batch and why it was a bad batch and what you do about it. Reporter investigators are quick to point out they have reached no conclusions in their investigation
Difficult engineering challenge. Lithium ion batteries have a lot of power and of course there are many types of batteries out there and hopefully a substitute can be found, but nothing is absolutely set in stone at this point. Reporter boeing might be able to design a container to prevent or protect fires caused by the lithium batteries. But if the company is forced to use older, larger batteries, engineers would have to re design parts of the 787. Investigators have reached no conclusions, but they will certainly be taking a hard look at every aspect of the 787s battery. I think that the amount of problems there have been with lithium batteries historically would have to lead one to believe that youre not going to certificating an airplane, youre not going to just say this was a bad batch, bring on the next batch until somebody figures out that it was a bad batch and why it was a bad batch and what you do about it. Reporter investigators are quick to point out they have reached no co