Bloomberg Business Report: Florida Bank Failures & "This Is It" Album Launch
POSTED: Monday, October 26, 2009
Seven banks failed over the weekend, bringing the total to 106 for the year. That's the most since the savings and loan crisis in 1992. Two of the banks seized by the FDIC were based in Naples and one in Bradenton, Florida. They open today under new ownership. The FDIC, which insures bank deposits, has said there are more than 400 "problem banks" in the country.Michael Jackson's "This Is It" album goes on sale today, and along with the movie that opens Wednesday in more than 90 countries, may ring up about $400 million in sales. More than 1,000 U.S. shows were sold out by the weekend, according to ticket vendor Fandango.com. Theaters in Sydney, Bangkok and Tokyo also reported sellouts. One movie chain in the U.K. says sales topped those of "Harry Potter" and "Lord of the Rings."
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