Bank of America has 45,000 employees in California and is expected to roll out the job cuts over the next several years. The company also is in the process of closing 10% of its branches nationwide. Above, pedestrians are reflected in the window as customers conduct transactions at a branch in Washington.

Bank of America Corp. is preparing to slash 40,000 or more jobs nationwide, a dramatic retrenchment that reflects the deepening woes of the country's largest bank and the magnitude of the U.S. economic slowdown.

The layoffs will come mainly from the BofA's sprawling consumer-banking operations, which will take a heavy toll on branches, loan centers and other offices throughout California.

Bank of America has 45,000 employees in the state, about 1 in 6 of its nearly 300,000-person workforce, and is expected to roll out the job cuts over the next several years. The company, which for years was based in San Francisco and maintains its huge mortgage unit in Calabasas, also is in the process of closing 10% of its branches nationwide.

BofA to cut at least 40000 jobs - Los Angeles Times

Politicians and business groups often blame excessive regulation and fear of higher taxes for tepid hiring in the economy. However, little evidence of that emerged when McClatchy Newspapers canvassed a random sample of small-business owners across the nation.

The U.S. Chamber of Commerce is among the most vocal critics of the Obama administration, blaming excessive regulation and the administration's overhaul of health care laws for creating an environment of uncertainty that's hampering job creation.

When it's asked what specific regulations harm small businesses - which account for about 65 percent of U.S. jobs - the Chamber of Commerce points to health care, banking and national labor. Yet all these issues weigh much more heavily on big corporations than on small business.

McClatchy reached out to owners of small businesses, many of them mom-and-pop operations, to find out whether they indeed were being choked by regulation, whether uncertainty over taxes affected their hiring plans and whether the health care overhaul was helping or hurting their business.

Regulations, taxes aren't killing small business, owners say - Kansas City Star

The locally based North Carolina insurance agency Charlotte Insurance is proud to announce their agency's recent achievement, of being named to Business Leader's Top 300 Small Business of the South. The agency received a number six ranking out of 300 for the Charlotte-area.

The team at Charlotte Insurance is thrilled to receive this recognition given the tough economic times that have had a negative impact on many local and national businesses.

With 5 convenient locations across the state of North Carolina, Charlotte Insurance has evolved into an all-inclusive, client-focused North Carolina insurance agency-committed to offering superior North Carolina and South Carolina insurance strategies for residents all across the region; whether you are from Matthews, Huntersville, Mooresville or beyond! Since 1992, the team here at Charlotte Insurance has been dedicated to changing the insurance industry for the better. A keen attention to detail and unwavering commitment to quality service has enabled the agency to build strong, close-knit relationships with its customers and overall community-relationships that thrive off of mutual understanding between agent and customer.

Charlotte Insurance Agency Named One of the City's Top Small Businesses - San Francisco Chronicle (press release)

BETHLEHEM--DeSean Jackson apparently didn't get the memo about how the Eagles' signing of wideout Steve Smith was unrelated to Jeremy Maclin's illness.

BETHLEHEM--DeSean Jackson apparently didn't get the memo about how the Eagles' signing of wideout Steve Smith was unrelated to Jeremy Maclin's illness. "The reason why they picked him up is they're unsure of Maclin's health," Jackson said today following his first practice since ending his 11-day training camp holdout. Jackson had been asked what he made of the signing of Smith, which perhaps implied the possibility that the Eagles are seeking leverage in their contract talks with Jackson. Jackson called Smith a friend and said be was hoping for Maclin's quick return.

Smith, recovering from left knee microfracture surgery, was officially played on the physicially unable to perform list today. The Eagles hold out hope that he will be able to start the season on the active roster; if he starts on PUP, he can't play for a full six weeks. Smith is very unlikely to be ready for the opener, but the team thinks he might not need to miss six weeks.

Eagles coach Andy Reid said he was pleased to see Jackson looking sharp, showing he had worked hard during the lockout. Reid gave no update on Maclin, who has returned home to the St. Louis area for more tests, the team has said.

DeSean:Smith is Maclin insurance - Philadelphia Inquirer (blog)

The Gwinnett Braves closed out their mini-home stand with the Charlotte Knights with a 7-4 loss Sunday at Coolray Field. The G-Braves (62-52) drop to 2.5 games behind the Durham Bulls (64-49) in the International League South after the Bulls win Sunday. The loss drops the Knights (55-60) 10.0 games back in third place in the division.

After a scoreless opening inning Charlotte started the scoring by plating three runs in the top of the 2rd inning then added a run in the 3rd and two more in the 4th inning to take a 6 run lead into the 5th. Gwinnett mounted a comeback over the next three innings scoring single runs in the 5th and 7th innings and a pair of runs in the 6th to cut the Knights lead to two at 6-4. Charlotte scored an insurance run in the top of the 8th then held Gwinnett scoreless the last two innings to secure the win.

The IL announced Monday that 1B Jorge Vazquez and Columbus P Justin Germano have been named the League’s Batter and Pitcher of the week for W/E July 31. Columbus now has had six PoTW winners this season matching the G-Braves for most in the IL.

Games can be heard on the voice of the G-Braves, WDUN 550 AM and 102.9 FM. Fans can also follow at www.twitter.com/GwinnettBraves1 , on gametracker at www.gwinnettbraves.com and on MiLB TV at www.MiLB.com .

Tyler Pastornicky extends hitting streak to 12 games in the G-Braves 7-4 loss - Examiner.com

Friday night storm damage on Bridge Street in Willingboro. A worker from PSE&G documents the damage to the power lines on Saturday morning. Bridge Street between Willingboro and Westampton was closed due to numerous downed trees on the roadway.

Friday night storm damage on Tarpon Lane in Willingboro. Resident Aaron Hawkins, right, surveys the damage on Saturday morning with a representative of a tree removal service.

Friday night storm damage in Willingboro. On Saturday morning Evan Thomas of Trinity Lane stands in his backyard and looks over the trees in the backyard of his neighbor Lewis Williams.

Friday night storm damage at 51 Trinity Lane in Willingboro. A tree from his backyard crashed into the chimney and the house of Seymour Suza on Friday night. A branch of the tree came into the dining room. Here Seymour shows how the branch came through the wall into his dining room.

Storm tears through Burlington County - phillyBurbs.com

Members of the Boulder County sheriff's fire crew and the Fourmile fire crew on Thursday load sandbags to try to spare homes from possible flooding in Fourmile Canyon west of Boulder.

July's daily drumbeat of pounding storms across the metro area has swamped dozens of cars, downed hundreds of trees and, now, led to thousands of reports of costly hail damage.

The storms also caused their first serious injury Thursday evening when a 16-year-old boy was swept more than 100 yards down Sand Creek in Aurora near the 1900 block of Potomac Street.

Aurora fire Capt. Allen Robnett said the boy was rescued after being wedged in an island of debris. He was given CPR and rushed to Children's Hospital Colorado. His condition was not released.

Denver's daily deluge swamping cars, insurance companies; boy seriously ... - Denver Post

NEW YORK (Reuters) - Stocks rallied on Thursday, with the Nasdaq up for an eighth straight day and all three major U.S. indexes rising 1 percent or more, as strong labor market and retail sales data lifted optimism a day before the U.S. employment report for June.

WASHINGTON (Reuters) - President Barack Obama and top lawmakers emerged from talks on Thursday still far apart on breaking a budget deadlock and said negotiators will work through the weekend for a deal to avoid a debt default.

WASHINGTON (Reuters) - Three senators reached a deal on Thursday to repeal the $6 billion per year ethanol tax credit by the end of July, an agreement that must still be passed by Congress.

BAC.N ) is selling a life insurance subsidiary to Securian Financial Group Inc, continuing a string of asset sales by the largest U.S. bank by assets.

BofA to sell Balboa life unit to Securian - Reuters

Limited driving or lack of a car may result in exploring local transportation resources or depending on others for errands such as going to the grocery, drug store, doctor, etc. Mail order medications through your insurance company or other organization and a pharmacy which delivers prescriptions can help with this need. See below for some local resources.

Maintaining the ability to meet personal needs, including dressing, bathing, cooking, taking medications or the ability to arrange for help with these tasks is essential to independence and a decent quality of life.

The ability and desire to handle housekeeping, yard work, making repairs or arranging for necessary work are key elements to keeping the home safe, comfortable and secure.

Recognizing and accepting temporary or permanent changes in your mental and physical functioning and seeking help from others (family, doctor, etc.) to cope with these changes may be necessary to age well and in the “right” environment.

How can we stay at home as we age? - DavidsonNews.net

The San Francisco bank, whose Wachovia unit leads South Florida in market share, also cited restrictions making it difficult to determine seniors’ ability to pay property taxes, home insurance and other obligations of homeownership.

Last year, the volume of reverse mortgages at Wells represented just 2.2 percent of the bank’s retail mortgage business and about 1.2 percent of its overall mortgage volume.

The bank, the nation’s largest originator of home mortgages, began extending reverse mortgages in 1990. The government created the reverse-mortgage program in 1987 to help house-rich but cash-poor senior citizens borrow against their home equity to generate a lump sum or a stream of monthly income. The loan is repaid when the home is sold after the borrower moves or dies.

But Wells Fargo’s exit signals the up-ending of business models created over decades of generally rising asset values. Many baby boomers see the equity in their home as a source of cash through reverse mortgages to buttress their golden years.

Wells Fargo drops reverse mortgages, citing 'unpredictable' home prices - Bizjournals.com