Good Morning
Good Morning

AG probes charity pay; other business briefs


AG probes charity payouts

That telemarketer asking you to give to a worthy cause may be getting a bigger slice of your dollar than the charity, Attorney General Eric Schneiderman said in a report Friday. Schneiderman found that fundraisers were paid an average of 61.5 cents for every dollar raised on behalf of New York charities in 2011. The charities were left with 38.5 cents. Schneiderman said he has issued more than a dozen subpoenas in an investigation into whether fundraisers broke any laws. In 602 fundraising campaigns examined by Schneiderman's office, only 135 passed along 50 percent or more of the funds raised to the charities. In about 12 percent of the campaigns the charities owed the fundraisers. -- TED PHILLIPS


Durable-goods demand up

Demand for durable goods such as machinery and electronics climbed more than forecast in November, increasing 0.7 percent, the Commerce Department said Friday. Economists surveyed by Bloomberg expected a 0.3 percent rise. Companies may be more willing to invest as global growth stabilizes and consumers keep spending, unfazed by the "fiscal cliff." Manufacturers such as Comtech Telecommunications Corp. of Melville, are looking for clarity from Washington to spur a rebound in government orders. "The ongoing paralysis in Washington continues to make the receipt of orders a challenge," Fred Kornberg, CEO of Comtech, said on a Dec. 7 earnings call. -- Bloomberg News

Separate Hostess buyers

Twinkies, Wonder Bread and Devil Dogs are likely to return to shelves in coming months, but probably not under the same owners. Hostess Brands Inc. said in bankruptcy court Friday it's narrowing down the bids it received for its brands and expects to sell off its snack cakes and bread brands to separate buyers. -- AP

More news