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Last updated: October 16. 2013 11:18PM - 750 Views

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Nexstar appoints


director of sales


Nexstar Broadcasting Group Inc. (NASDAQ: NXST) has announced that Stephen Daniloff has been appointed director of sales of WBRE-TV and associated digital services including PAhomepage.com, PAhomepage.biz and PAhomepage.mobi, which serve the Wilkes-Barre/Scranton and Hazleton market areas.


Daniloff will also lead sales efforts for Mission Broadcasting’s CBS affiliate WYOU-TV. His appointment is effective as of Oct. 14 and he will report directly to Robert G. Bee, vice president and general manager for WBRE-TV, the regional NBC affiliate.


JPMorgan agrees


to $100M penalty


JPMorgan Chase & Co. has agreed to pay a $100 million penalty and admitted that its traders acted “recklessly” during a series of London trades that ultimately cost the bank $6 billion.


The settlement announced Wednesday by the Commodity Futures Trading Commission comes less than a month after JPMorgan, the nation’s largest bank, agreed to pay $920 million and admit fault in a deal with the Securities and Exchange Commission and other U.S. and British regulators.


The stunning trading losses that surfaced in April 2012 shook the financial world and damaged JPMorgan’s reputation. The CFTC deal differs from the previous agreement because JPMorgan is formally acknowledging that its traders recklessly distorted prices to reduce the banks’ losses at the expense of other market participants. In the SEC agreement, JPMorgan admitted only that it failed to supervise those traders.


GM raising prices


for pickup trucks


General Motors is adding a twist to the fight for supremacy in the red-hot U.S. pickup truck market: It’s raising prices.


GM is adding almost $2,100 to the sticker price of the base 2014 Chevrolet Silverado. That’s 8.5 percent above the price when the truck hit showrooms in the spring. Other versions of the Silverado, as well as the GMC Sierra, will see similar percentage increases.


Raising prices sounds like an odd way to boost sales. But industry analysts suspect it’s a marketing ploy. They expect GM to raise incentives starting next month so dealers can advertise big discounts. Customers will feel they’re getting a deal — whether they do or not depends on the size of the discount.


The move comes after GM’s pickup sales fell 8 percent in September while its two biggest competitors saw increases. Sales of Ford’s F-Series, the best-selling pickups in the U.S., rose 10 percent and Chrysler’s Ram posted an 8 percent increase. The Detroit Three dominate U.S. full-size pickup truck sales with 90 percent of the market. The Toyota Tundra and Nissan Titan make up the remainder.


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