Money Minute: Foreclosures, Fords and Binkys

BusinessMoney Minute: Foreclosures, Fords and BinkysMoney Minute: Foreclosures, Fords and BinkysThe Associated PressForeclosures in California soared in the second quarter to the highest level in at least 20 years. The AP's Mark Hamrick reports on that and the rest of Tuesday's top business headlines. (July 22)AP Money MinuteForeclosures in California soared in the second quarter to the highest level in at least 20 years. A survey by DataQuick Information Systems found that foreclosures increased about 33 percent from the previous quarter and jumped 261 percent compared to the same quarter last year. The number of default notices _ an indicator of possible future foreclosures _ also jumped between April and June. ----------------------------In an effort to move away from its heavy dependence on truck sales, Ford plans to import six small vehicles to the U.S. market. A person briefed on the company's plans who is requesting anonymity also says Ford will revamp some U.S. plants to produce more small cars. Ford's U.S. sales have have dropped 14 percent this year and the company has announced substantial cutbacks in recent weeks. --------------------If you own one of the It's My Binky pacifiers, the company wants it back. About 115,000 of the personalized pacifiers have been recalled because pieces can detach and pose a choking hazard. The pacifiers were sold at Nordstrom and baby boutique stores around the country between February 2006 and June 2008 as well as at It's My Binky dot com.--------------------------I'm Mark Hamrick with AP Money Minute(****END****)