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    CNN Money: Top business headlines for Nov. 8

    5:58 AM, Nov 8, 2013   |    comments
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    NEW YORK (CNN) -- CNN Money's Maribel Aber has your top business and financial news on this Friday, November 8.

    Windstream's 3Q profit drops 34 percent to $31M
    Windstream Corp. of Little Rock on Thursday reported third-quarter net income of $31 million, down 34 percent from the same quarter last year. Earnings per share was 5 cents, down from 8 cents during the same quarter last year and missing analysts' estimates of 9 cents. Revenue was $1.50 billion, down 2 percent from $1.55 billion in the same quarter last year and missing estimates of $1.51 billion. In its earnings news release, Windstream noted "an after-tax loss on the early extinguishment of debt and merger and integration, restructuring and other expense."

    Tallying the costs of the government shutdown
    Preschool students. Museum guides. Alaskan crab fishermen. These are just a few of the groups that took a hit during last month's government shutdown, federal researchers said in a report released Thursday. Tourist sites like national parks and the Smithsonian Museum were closed, reducing visitor spending by over $500 million. Preschool students in the Head Start program missed up to nine days of school, and nearly 1,400 workplace safety inspections were suspended, and will not be fully made up.

    Want to keep your job? Rent, don't buy!
    Encouraging young people to buy a home may be storing up trouble for the future in the shape of higher unemployment, according to a new study. Researchers from Dartmouth College in New Hampshire and the U.K.'s University of Warwick say that when countries see an increase in home ownership, unemployment begins to rise a few years later, partly because people become more reluctant to move to find a job.  As well as reducing labor market mobility, the researchers said home ownership leads to longer commutes, which are a waste of time and money.

    Elvis heads to Wal-Mart's shelves
    Elvis will soon be in Wal-Mart's house -- and probably on its customers' beds. A bedding collection with The King was one of two winners of Wal-Mart's "Get on the Shelf" contest, which searched for the hottest new products in America. A line of customizable silicone wristbands was the other. The winning products will be sold on Walmart.com and likely in Wal-Mart (WMT, Fortune 500) stores as well. "Winning the contest is like taking the elevator instead of the stairs," said David Bursteen, co-owner of Legends Home Bedding, the company behind the Elvis collection.

     

     

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