Subprime lender New Century may collapse; Dollar General sold $7B
CBS News
Transcript
[Music] another casualty in the subprime mortgage meltdown New Century says it doesn't have the cash to pay creditors who are demanding their money now that's increasing speculation that the subprime mortgage lender will go bankrupt Bad subprime Mortgages in the US are now at a seven-year high and that's forcing more than two dozen lenders to close their wos May contribute to more than 1 and a half million Americans losing their homes and a 100,000 people losing their jobs it's a done deal for Dollar General the discount retailer is being sold for nearly $7 billion to a private Equity Firm Dollar General has more than 8,200 stores nationwide and Ford is handing over the keys to Aston Martin selling a controlling stake in the luxury sports car to a group of private investors the price tag nearly $850 million the Aston is best known for appearances in the James Bond films Ford will still hold a stake in the company but the money raised from the sale will help Ford in its turnaround plan that's your money watch log on to cbsnews.com for more business headlines in New York I'm Alexis christopherus