Daily auctions are held on foreclosed properties in front of the county courthouse in Corona, Calif. About 80 bidders, representing investors, show up to bid on properties.
Credit Yuki Noguchi / NPR
Mike Strugatz is an investor who's bought and renovated about two dozen distressed homes in the Riverside and Lake Elsinore area. He says with less inventory on the market recently, it's getting harder to find properties, and banks are demanding higher prices even for destroyed homes.
Credit Yuki Noguchi / NPR
Jennifer Bryant has made more than 30 offers on houses, mostly from her cellphone, in many cases without viewing the property. She has lost every bid, and says she often loses to all-cash buyers.
For-sale homes in California are sparse, even in areas with high foreclosure rates. It has led to buyers like Jennifer Bryant, who is willing to throw money at just about anyone willing to sell her a house.
Since February, Bryant has made 35 offers on homes in Riverside, only to be elbowed out by other bids. With few houses available and many bidders chasing these properties, she feels she has, at most, an hour to consider each house.
Retired senior police investigator Zafar Qureshi, 59, stands outside his home in Lahore, Pakistan, where security guards are stationed 24 hours a day. The former police official has probed some of the highest profile cases of official misconduct in Pakistan, and says he fears for his safety and that of his children in a country that he says is steeped in a "culture of corruption."
Credit Aamir Qureshi / AFP/Getty Images
Arsalan Iftikhar Chaudhry (center), son of Pakistan's Supreme Court Chief Justice Iftikhar Muhammad Chaudhry, leaves the Supreme Court after attending a hearing. He is facing allegations of accepting bribes from a powerful property developer totaling some $4 million.
Credit Mohsin Raza / Reuters/Landov
Sonia Naz (left) accused two Punjab police officers of extorting money from her and then sexually assaulting her after she complained to a court. Qureshi's investigation supported her claims, but he says he was forced out of a job as a result. Meanwhile, Naz's seven-year-old case has been revived by the Supreme Court.
Pakistan's National Assembly has been summoned to elect a new prime minister for the fragile coalition of President Asif Ali Zardari. A consensus candidate, current Textile Industry Minister Makhdoom Shahabuddin, emerged soon after the Supreme Court's dramatic firing of outgoing Premier Yusuf Reza Gilani.
The court disqualified Gilani from office this week for defying court orders to pursue dormant corruption charges against President Zardari.
Mexicans go to the polls July 1 to choose their next president, and polls show that voters seem inclined to embrace the past. The center-left Institutional Revolutionary Party, or PRI, which ruled the country for more than seven decades before being ousted 12 years ago, holds a solid lead.
But Mexico's young are making their voices heard: Some fear a return of authoritarian rule; others simply want jobs.
Good morning. I'm Linda Wertheimer. Faster than a speeding bullet, more powerful than a locomotive and not born in Ohio. The idea of Superman was conceived in Glenville, Ohio back in the 1930s, but when a proposed Superman-themed license plate called Ohio birthplace of Superman, DC Comics and Warner Communications objected. Superman, they point out, was born on the planet Krypton. It's MORNING EDITION. Transcript provided by NPR, Copyright National Public Radio.
A House committee meets to consider a report holding Attorney General Eric Holder in contempt of Congress on Wednesday. Holder failed to turn over subpoenaed documents related to Operation Fast and Furious, a botched gun-trafficking operation. Rep. Darrell Issa met with Holder Tuesday in an effort to resolve difference over his panel's subpoena for the documents.
The founder of WikiLeaks, Julian Assange, spent the night at the embassy of Ecuador in London. Yesterday, he unexpectedly walked into the embassy and requested political asylum. Assange is seeking to avoid being extradited from Britain to Sweden, where he's wanted for questioning about allegations of sex crimes, including rape. We're joined by NPR's Phil Reeves in London. Phil, why do this now?
Leaders of the world's biggest economies wrapped up the G-20 summit in Mexico Tuesday with a promise to work together to promote jobs. The meeting comes amid worrisome signs of slowing growth in the United States and elsewhere.
And our last word in business is: supersized couch potato.
This week, Japanese electronics maker Sharp unveiled what it's calling the biggest LED TV on the planet. The 90-inch set has WiFi built in and you can buy it with a webcam option. You could, say, Skype with 50 people at once and see all their faces.
LINDA WERTHEIMER, HOST:
Of course, you would need a lot of wall space and a fat wallet. It cost $11,000.
That's the business news on MORNING EDITION. I'm Linda Wertheimer.
Mitt Romney has wrapped up his most extensive campaign trip since becoming the all-but-official Republican nominee for president. Over the past five days, he visited six potential battleground states, touring each by bus. Along the way, he honed his attacks on President Obama, while also trying to show voters a more relaxed Mitt Romney than they've seen so far.
The tour, called Every Town Counts, stayed mostly in counties friendly to Republicans, ending with three stops in Michigan yesterday, the state where Romney was born.