Worth every penny
If a stay-at-home mom could be compensated in dollars rather than personal satisfaction and unconditional love, she’d rake in a nifty sum of nearly $117,000 a year. That’s according to a pre-Mother’s Day study released Thursday by Salary.com, which studies workplace compensation.
The eighth annual survey calculated the $116,805 market value by studying pay levels for 10 job titles with duties that a typical mom performs, ranging from housekeeper and day-care-center teacher to van driver, psychologist and chief executive officer. A working mom who also juggles an outside job would get $68,405 for her motherly duties.
Fraud indictments
Two former Olympia Mortgage Corp. executives were indicted for mortgage fraud at the defunct lender, the U.S. attorney in Brooklyn said Thursday.
The accused, 64-year-old Leib Pinter and 59-year-old Barry Goldstein, were charged with conspiracy, wire fraud and mortgage fraud at Brooklyn-based Olympia, where they both served as officers.
Pinter allegedly defrauded Fannie Mae, the largest U.S. mortgage-finance company, in connection with $44 million in proceeds for refinanced mortgage loans, according to the indictment. Goldstein was accused of directing employees to falsify documents for loans sold to Credit Suisse Group.
Treasury auction
The Federal Reserve has auctioned $28.77 billion in safe Treasury securities to big investment firms, part of its effort to ease credit problems.
The auction — the seventh of its kind — was held Thursday and drew less than the $50 billion made available. The reduction could be viewed as a sign of some improvement in credit conditions.
Union finances
Unions should be required to make public more details of their internal finances, the Labor Department said Thursday as it proposed new changes to union disclosure forms.
Unions are required every year to file financial disclosure forms with the Labor Department.
But federal officials are proposing a more detailed form, and penalizing small unions who get into trouble with the law by banning them from filing a simple form.
The proposed changes will be printed on Monday in the Federal Register.
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