<?xml version="1.0"?><rss version="2.0" xmlns:dc="http://purl.org/dc/elements/1.1/"><channel><title>DailyFinance.com</title><link>http://www.dailyfinance.com</link><description>DailyFinance.com</description><image><url>http://o.aolcdn.com/os/df/2013/img/2-dailyfinance_logo_m.png</url><title>DailyFinance.com</title><link>http://www.dailyfinance.com</link></image><language>en-us</language><copyright>Copyright 2013 Weblogs, Inc. The contents of this feed are available for non-commercial use only.</copyright><generator>Blogsmith http://www.blogsmith.com/</generator><item><title>10 Most Outrageous Credit Card Charges</title><link>http://www.dailyfinance.com/2011/12/16/10-most-outrageous-credit-card-charges/</link><guid isPermaLink="true">http://www.dailyfinance.com/2011/12/16/10-most-outrageous-credit-card-charges/</guid><comments>http://www.dailyfinance.com/2011/12/16/10-most-outrageous-credit-card-charges/#comments</comments><description><![CDATA[<p>Filed under: <a href="http://www.dailyfinance.com/category/credit-cards/" rel="tag">Credit Cards</a></p><div><img vspace="4" hspace="4" border="0" align="right" src="http://www.blogcdn.com/www.dailyfinance.com/media/2011/12/receipt-240em121511-1324013584.jpg" alt="10 Most Outrageous Credit Card Charges" />Have you ever left a store or restaurant without looking at your receipt, only later to find a bogus charge? In most cases, the errors are innocent enough -- maybe the harried waitress at the local drive-thru accidentally tacked on an extra soft drink. <br />
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Even looking back at own our receipts, we sometimes can't recognize the products we purchased, and we'd never know that there was a glitch unless we were paying close attention.<br />
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But some receipts merit a double-take because of the sheer outrageousness of their totals, or the bizarre nature of the expense ($2 for a "farting charge?"). Those are the ones that have to be seen to be believed, like this collection of 10 outrageous cash register receipts that have gone viral on the web, courtesy of <a href="http://www.buzzfeed.com/">BuzzFeed</a>. We can't say for sure who was hit with all these charges, but we know that somebody somewhere ponied up $50 for "nothing."<br />
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Check, please!<br />
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<div class="postgallery"><p><strong>Gallery: <a href="http://www.dailyfinance.com/photos/most-obscene-credit-card-purchases/">Most Obscene Credit Card Purchases</a></strong></p><a href="http://www.dailyfinance.com/photos/most-obscene-credit-card-purchases/5107336/"><img src="http://www.blogcdn.com/www.dailyfinance.com/media/2012/06/receipts-1040_thumbnail.jpg" alt="Check, please!" title="Check, please!" /></a><a href="http://www.dailyfinance.com/photos/most-obscene-credit-card-purchases/4683871/"><img src="http://www.blogcdn.com/www.dailyfinance.com/media/2011/12/buzz-bruins-1500cs121511_thumbnail.jpg" alt="1) Night Out For The Boston Bruins - $157,000" title="1) Night Out For The Boston Bruins - $157,000" /></a><a href="http://www.dailyfinance.com/photos/most-obscene-credit-card-purchases/4683869/"><img src="http://www.blogcdn.com/www.dailyfinance.com/media/2011/12/buzz-billionaire-1500cs121511_thumbnail.jpg" alt="2) Lunch For Russian Billionaire Roman Abramovich - $47,221" title="2) Lunch For Russian Billionaire Roman Abramovich - $47,221" /></a><a href="http://www.dailyfinance.com/photos/most-obscene-credit-card-purchases/4683867/"><img src="http://www.blogcdn.com/www.dailyfinance.com/media/2011/12/buzz-farting-1500cs121511_thumbnail.jpg" alt="3)  Farting Charge - $2.00" title="3)  Farting Charge - $2.00" /></a><a href="http://www.dailyfinance.com/photos/most-obscene-credit-card-purchases/4683865/"><img src="http://www.blogcdn.com/www.dailyfinance.com/media/2011/12/buzz-lebron-1500cs121511_thumbnail.jpg" alt="4) Lebron James' Vegas Trip - $171,937" title="4) Lebron James' Vegas Trip - $171,937" /></a></div><br />
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See </em><a href="http://www.dailyfinance.com/photos/most-outrageous-bills/3655077/" target="_blank"><em>more outrageous consumer charges</em></a><em> on <a href="http://dailyfinance.com" target="_blank">Daily Finance</a>.</em></div>
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<br style="clear:both;"></p><p style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;"> </p><p><a href="http://www.dailyfinance.com/2011/12/16/10-most-outrageous-credit-card-charges/" rel="bookmark" title="Permanent link to this entry">Permalink</a> | <a href="http://www.dailyfinance.com/forward/20129164/" title="Send this entry to a friend via email">Email this</a> | <a href="http://www.dailyfinance.com/2011/12/16/10-most-outrageous-credit-card-charges/#comments" title="View reader comments on this entry">Comments</a></p>]]></description><category>credit card charges</category><category>credit card receipts</category><category>CreditCardCharges</category><category>CreditCardReceipts</category><category>funny receipts</category><category>FunnyReceipts</category><category>outrageous charges</category><category>OutrageousCharges</category><dc:creator>Cassandra Hubbart</dc:creator><pubDate>Fri, 16 Dec 2011 00:30:00 EST</pubDate></item><item><title>AARP Names the 10 Best Places to Retire Affordably and Happily in America</title><link>http://www.dailyfinance.com/2011/07/27/aarp-names-the-10-best-places-to-retire-affordably-and-happily-i/</link><guid isPermaLink="true">http://www.dailyfinance.com/2011/07/27/aarp-names-the-10-best-places-to-retire-affordably-and-happily-i/</guid><comments>http://www.dailyfinance.com/2011/07/27/aarp-names-the-10-best-places-to-retire-affordably-and-happily-i/#comments</comments><description><![CDATA[<p>Filed under: <a href="http://www.dailyfinance.com/category/retirement/" rel="tag">Retirement</a>, <a href="http://www.dailyfinance.com/category/real-estate/" rel="tag">Real Estate</a>, <a href="http://www.dailyfinance.com/category/how-to-save-money/" rel="tag">How to Save Money</a></p><img vspace="4" hspace="4" border="0" align="right" src="http://www.blogcdn.com/www.dailyfinance.com/media/2011/07/winchester-va-240cs072611.jpg" alt="Winchester, Va" />I moved to Winchester, Va., in 2006 and fell in love with the area, especially the Civil War battlefield of the Third Battle of Winchester. Not that I'm a huge history buff -- I simply became entranced with the beauty of the city.<br />
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It was on the trails of that battlefield that I trained for my first half marathon. I remember one particular run on a crisp fall morning, when the sun lit up the start of the trail, which cut through waist-deep golden grasses over an area of flat land. It's the first of three very different terrains on the battlefield, where 6 a.m. held a kind of peace as the wind played music in the grass. Next, the fields fell away to a short, wicked downhill onto to a basic wooden walkway inches above an iced-over creek. The trial then jaunted into the third section, where the path darkened into a narrow forest mountain biking path. The soft glowing eyes of countless deer scattered ahead of me on the steep muddy, single tracks and loops until I broke out of the shade of the forest into the sun for my first completed 6-mile run.<br />
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The amazing battlefields of Winchester are just the start of the area's long list of delightful attractions -- and I'm not alone in this opinion. The <a href="http://www.aarp.org/magazine">AARP</a> just named Winchester, Va., one of the top 10 U.S. places to live and retire affordably. Its safe downtown is thick with charm, filled with fountains, parks, ponds, bars and restaurants. Neighborhoods range from small city homes to medium sized cottages to large three-level modern homes. <img vspace="4" hspace="4" border="0" align="right" src="http://www.blogcdn.com/www.dailyfinance.com/media/2011/07/drive-in-movie-theater.jpg" alt="Drive in movie theater" />Median list price, around $208,500, according to <a href="http://www.zillow.com/local-info/VA-Winchester-home-value/r_34868/">Zillow.com</a>. Home to the famous Shenandoah Apple Blossom Festival and carnival that has celebrated the area's delicious apple-growing history since 1924, Winchester is an easy commute to the <a href="http://www.appalachiantrail.org/">Appalachian Trail</a>, a sweet <a href="http://www.thefamilydriveintheatre.com/">Family Drive-In Theater</a> (shown in photo on right), and to the business savvy Northern Virginia area.<br />
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To see what other appealing cities and towns made the list, click through our photo gallery below.</div>
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<em><strong> Gallery: </strong></em><a href="http://www.dailyfinance.com/photos/aarps-top-10-best-places-to-live-and-retire-affordably-in-the-u-s/4319591/"><em><strong>AARP's Top 10 Best Places To Live (and Retire) Affordably in the U.S.</strong></em></a><br />
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<a href="http://www.dailyfinance.com/photos/aarps-top-10-best-places-to-live-and-retire-affordably-in-the-u-s/4319591/"><img vspace="4" hspace="4" border="0" align="middle" alt="Gallery" src="http://www.blogcdn.com/www.dailyfinance.com/media/2011/07/best-places-gallery-thumbnails.jpg" /></a><br />
</strong></div><br style="clear:both;"></p><p style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;"> </p><p><a href="http://www.dailyfinance.com/2011/07/27/aarp-names-the-10-best-places-to-retire-affordably-and-happily-i/" rel="bookmark" title="Permanent link to this entry">Permalink</a> | <a href="http://www.dailyfinance.com/forward/20000697/" title="Send this entry to a friend via email">Email this</a> | <a href="http://www.dailyfinance.com/2011/07/27/aarp-names-the-10-best-places-to-retire-affordably-and-happily-i/#comments" title="View reader comments on this entry">Comments</a></p>]]></description><category>AARP</category><category>aarp+best+places+to+retire</category><category>aarpbestplacestoretire</category><category>Best places to live</category><category>Best places to retire</category><category>BestPlacesToLive</category><category>BestPlacesToRetire</category><category>Cheap retirement cities</category><category>CheapRetirementCities</category><category>Gainesville</category><category>Portland</category><category>Retire affordably</category><category>RetireAffordably</category><category>retirement home</category><category>RetirementHome</category><category>Top places to retire</category><category>Top ten</category><category>TopPlacesToRetire</category><category>TopTen</category><category>Tulsa</category><category>Va</category><category>Wenatchee</category><category>Winchester</category><dc:creator>Cassandra Hubbart</dc:creator><pubDate>Wed, 27 Jul 2011 06:30:00 EST</pubDate></item><item><title>The 10 Most Expensive Hurricanes in U.S. History</title><link>http://www.dailyfinance.com/2011/06/10/the-10-most-expensive-hurricanes-in-u-s-history/</link><guid isPermaLink="true">http://www.dailyfinance.com/2011/06/10/the-10-most-expensive-hurricanes-in-u-s-history/</guid><comments>http://www.dailyfinance.com/2011/06/10/the-10-most-expensive-hurricanes-in-u-s-history/#comments</comments><description><![CDATA[<p>Filed under: <a href="http://www.dailyfinance.com/category/insurance/" rel="tag">Insurance</a>, <a href="http://www.dailyfinance.com/category/industry-news/" rel="tag">Industry News</a></p><img hspace="4" border="1" align="right" vspace="4" src="http://www.blogcdn.com/www.dailyfinance.com/media/2011/06/hurricane-season-2011cs060211.jpg" alt="Hurricanes" />At times, 2011 has felt like a parade of natural disasters: Earthquakes and tornadoes and floods, oh my! But wait, there are more coming. Hurricane season has just begun.<br />
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The Atlantic hurricane season, which runs from June to November, is predicted to to be heavy, and it comes on the heels of a spring that brought the deadliest and strongest tornadoes on record in the United States. With the massive F5 that leveled a large swath of Joplin, Mo., on May 22 and took more than 135 lives, as well as the June twisters that caused a total of 322 deaths, the nation's weather-related damage for 2011 has already topped $3 billion from tornadoes alone.<br />
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Hurricanes tend to be more expensive, and in the past few years, we've been lucky to have avoided the worst storms.<br />
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The National Ocean and Atmospheric Administration predicts about 18 named tropical storms will form this year, with six to 10 of them expected to reach hurricane status. Researchers at Colorado State University offer a complimentary analysis, suggesting that 2011 will see about 16 named storms, with five developing into major hurricanes. These numbers stand menacingly higher than the average North Atlantic season of 11 named storms and two hurricanes in the upper strength categories. <br />
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Even though a Category 4 or 5 hurricane can cause serious damage, it's not always the strongest hurricanes that leave the most devastation in their wake. In fact, out of the top 10 most expensive hurricanes on record, two were Category 2 and one, Agnes in 1972, was a Category 1. Hurricane Katrina was just a Category 3, and the areas it touched are still feeling the effects of its estimated $81 billion in property damage today. It was also one of the most lethal, with 1,836 deaths caused by the storm and the floods and chaos that followed. <br />
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<div class="postgallery"><p><strong>Gallery: <a href="http://www.dailyfinance.com/photos/costliest-hurricanes/">The 10 Costliest Hurricanes in U.S. History</a></strong></p><a href="http://www.dailyfinance.com/photos/costliest-hurricanes/5408692/"><img src="http://www.blogcdn.com/www.dailyfinance.com/media/2012/11/hurricane-sandy-1040cs110212_thumbnail.jpg" alt="" title="" /></a><a href="http://www.dailyfinance.com/photos/costliest-hurricanes/5390854/"><img src="http://www.blogcdn.com/www.dailyfinance.com/media/2012/10/hurricane-agnes-1040cs102612_thumbnail.jpg" alt="11. Hurricane Agnes (1972)" title="11. Hurricane Agnes (1972)" /></a><a href="http://www.dailyfinance.com/photos/costliest-hurricanes/5390855/"><img src="http://www.blogcdn.com/www.dailyfinance.com/media/2012/10/hurricane-hugo1040cs102612_thumbnail.jpg" alt="10. Hurricane Hugo (1989)" title="10. Hurricane Hugo (1989)" /></a><a href="http://www.dailyfinance.com/photos/costliest-hurricanes/5390856/"><img src="http://www.blogcdn.com/www.dailyfinance.com/media/2012/10/hurricane-rita-1040cs102612_thumbnail.jpg" alt="9. Hurricane Rita (2005)" title="9. Hurricane Rita (2005)" /></a><a href="http://www.dailyfinance.com/photos/costliest-hurricanes/5390648/"><img src="http://www.blogcdn.com/www.dailyfinance.com/media/2012/10/hurricane-irene-1040-cs102612_thumbnail.jpg" alt="8. Hurricane Irene (2011)" title="8. Hurricane Irene (2011)" /></a></div><br />
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Are you covered for a hurricane? Read about <a href="http://www.dailyfinance.com/2011/05/04/tornado-flood-hurricane-quake-are-you-covered-for-a-worst-ca/">natural disaster insurance</a> on <em>DailyFinance</em>.<br />
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<div style="text-align: center;"><object width='495' height='297' id='FiveminPlayer' classid='clsid:d27cdb6e-ae6d-11cf-96b8-444553540000'> <param name='allowfullscreen' value='true'/> <param name='allowScriptAccess' value='always'/> <param name='movie' value='http://embed.5min.com/517076819/'/> <param name='wmode' value='opaque' /> <embed name='FiveminPlayer' src='http://embed.5min.com/517076819/' type='application/x-shockwave-flash' width='495' height='297' allowfullscreen='true' allowScriptAccess='always' wmode='opaque'> </embed> </object></div><br style="clear:both;"></p><p style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;"> </p><p><a href="http://www.dailyfinance.com/2011/06/10/the-10-most-expensive-hurricanes-in-u-s-history/" rel="bookmark" title="Permanent link to this entry">Permalink</a> | <a href="http://www.dailyfinance.com/forward/19957446/" title="Send this entry to a friend via email">Email this</a> | <a href="http://www.dailyfinance.com/2011/06/10/the-10-most-expensive-hurricanes-in-u-s-history/#comments" title="View reader comments on this entry">Comments</a></p>]]></description><category>Costliest Hurricanes</category><category>death</category><category>destruction</category><category>flooding</category><category>Hurricane Andrew</category><category>Hurricane Charley</category><category>Hurricane Hugo</category><category>Hurricane Ike</category><category>Hurricane Ivan</category><category>Hurricane Katrina</category><category>Hurricane season 2011</category><category>Hurricane Wilma</category><category>insurance</category><category>storm surge</category><category>storms</category><category>tornado</category><category>weather</category><category>worst hurricane</category><dc:creator>Cassandra Hubbart</dc:creator><pubDate>Fri, 10 Jun 2011 11:00:00 EST</pubDate></item><item><title>The Fortune 500's Biggest Losers: Down Billions, But Still Huge</title><link>http://www.dailyfinance.com/2011/05/23/the-fortune-500s-biggest-losers-down-billions-but-still-huge/</link><guid isPermaLink="true">http://www.dailyfinance.com/2011/05/23/the-fortune-500s-biggest-losers-down-billions-but-still-huge/</guid><comments>http://www.dailyfinance.com/2011/05/23/the-fortune-500s-biggest-losers-down-billions-but-still-huge/#comments</comments><description><![CDATA[<p>Filed under: <a href="http://www.dailyfinance.com/category/company-news/" rel="tag">Company News</a>, <a href="http://www.dailyfinance.com/category/bank-of-america/" rel="tag">Bank of America</a>, <a href="http://www.dailyfinance.com/category/earnings/" rel="tag">Earnings</a>, <a href="http://www.dailyfinance.com/category/market-news/" rel="tag">Market News</a>, <a href="http://www.dailyfinance.com/category/financial-services/" rel="tag">Financial Services</a></p><img vspace="4" hspace="4" border="1" align="right" alt="Fortune 500" src="http://www.blogcdn.com/www.dailyfinance.com/media/2011/05/fortune-500-240cs051211.jpg" />Earlier this month,<a href="http://money.cnn.com/galleries/2011/fortune/1104/gallery.fortune500_money_losers.fortune/" target="_blank"> <em>Fortune</em> magazine's annual list of the top 500 U.S. companies</a> was released. The big news was Walmart's continued lead over No. 2 Exxon Mobil for the second straight year. Both earned billions of dollars in profits.<br />
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Now, holding a spot on the Fortune 500 list puts a business in august company, but that isn't always synonymous with hitting high benchmarks for capital gains, significant revenue or expansion. Each year, some companies manage to stay on the list despite experiencing profound problems.
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Indeed, last year, two floundering firms nearly matched Walmart's huge $16.4 billion in profits with the magnitude of their losses: Freddie Mac and Fannie Mae, the ailing mortgage lenders knocked down by the mortgage crisis of 2007 that heralded the Great Recession, lost more than $14 billion each. <br />
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How can a company lose so much money and yet still earn a spot on the prestigious Fortune 500? Because size matters: <em>Fortune</em> magazine ranks companies by gross revenue, not by profits or losses. Therefore, as long as the company's total revenue hit the high notes, they can still cling to their bragging rights of being a Fortune 500 company.<br />
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Here, then, are the world's largest companies, with the world's largest losses.<br />
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<div class="postgallery"><p><strong>Gallery: <a href="http://www.dailyfinance.com/photos/clinging-to-the-500/">Clinging to the 500</a></strong></p><a href="http://www.dailyfinance.com/photos/clinging-to-the-500/4130223/"><img src="http://www.blogcdn.com/www.dailyfinance.com/media/2011/05/freddie-mac-losses-300cs051211_thumbnail.jpg" alt="Freddie Mac" title="Freddie Mac" /></a><a href="http://www.dailyfinance.com/photos/clinging-to-the-500/4130222/"><img src="http://www.blogcdn.com/www.dailyfinance.com/media/2011/05/fannie-mae-losses-300cs051211_thumbnail.jpg" alt="Fannie Mae" title="Fannie Mae" /></a><a href="http://www.dailyfinance.com/photos/clinging-to-the-500/4130226/"><img src="http://www.blogcdn.com/www.dailyfinance.com/media/2011/05/sprint-nextel-losses-300cs051211_thumbnail.jpg" alt="Sprint Nextel Corp" title="Sprint Nextel Corp" /></a><a href="http://www.dailyfinance.com/photos/clinging-to-the-500/4130221/"><img src="http://www.blogcdn.com/www.dailyfinance.com/media/2011/05/energy-future-holdings-300cs051211_thumbnail.jpg" alt="Energy Future Holdings" title="Energy Future Holdings" /></a><a href="http://www.dailyfinance.com/photos/clinging-to-the-500/4130219/"><img src="http://www.blogcdn.com/www.dailyfinance.com/media/2011/05/bank-of-america-losses-300cs051211_thumbnail.jpg" alt="Bank of America Corp." title="Bank of America Corp." /></a></div><br />
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<div><strong>1. Freddie Mac</strong><br />
Fortune 500 Rank: 20<br />
Loss: $14.025 billion<br />
The troubled Federal Home Loan Mortgage Corporation, aka <a target="_blank" href="http://www.freddiemac.com/">Freddie Mac</a>, is a government-sponsored enterprise chartered by Congress to stabilize the nation's residential mortgage markets. However, despite the injection of massive bailout loans and government care, its $14 billion loss in 2010 has put a sledge hammer through its hopes of recovery. In fact, in March 2011, Treasury Secretary Timothy Geithner called on Congress to pass legislation within two years that would dissolve both Freddie Mac and its larger sibling, Fannie Mae.<br />
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<strong>2. Fannie Mae</strong><br />
Fortune 500 rank: 5<br />
Loss: $14.014 billion <br />
Back in June 2010, after its stock had traded below $1 a share for more than 30 days, mortgage giant <a target="_blank" href="http://www.freddiemac.com/">Fannie Mae</a> announced that it was being delisted from the NYSE, and little has given its shareholders reason to smile since then. <span>For the first quarter of 2011</span>,<span> the company reported a loss of $8.7 billion, and</span> has asked for another $8.5 billion in federal aid. <span>The most recent losses came as a 1.8% decline in <a href="http://realestate.aol.com/information/home-prices" class="inlinked">home prices</a> around the country led more homeowners to default on loans that Fannie Mae had guaranteed.</span> <br />
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<strong>3. Sprint Nextel Corp (</strong><a href="http://www.dailyfinance.com/quotes/sprint-nextel-corporation/s/nys"><strong>S</strong></a><strong>)</strong><br />
Fortune 500 rank: 85<br />
Loss: $3.465 billion<br />
<a target="_blank" href="http://www.sprint.com/index_n.html?brand=Nextel">Sprint Nextel</a>, the third-largest U.S. wireless operator, has been struggling to hold onto its customers over the past few years, mainly due to complaints about poor service.<span> The company has been aggressively working to improve its customer care and rebuild its image, and</span> those efforts seem to be working: In the first quarter of 2011, Sprint Nextel reported net subscriber growth of 1.1 million customers -- its highest growth in five years -- bringing its total customer base to 51 million.<br />
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<strong>4. Energy Future Holdings Corp.</strong><br />
Fortune 500 rank: 292<br />
Loss: $2.812 billion<br />
<a target="_blank" href="http://www.energyfutureholdings.com/">Energy Future</a> is a privately held energy company consisting primarily of TXUEnergy, the largest nonregulated retail electricity provider in Texas, and Luminant, which is engaged largely in power generation, wholesale power marketing and energy trading. Luminant suffered massive problems, outages and shutdowns in 2010.<span> But broader issues certainly impacted Energy Future's revenues in 2010 as well, among them concerns about U.S. dependency on foreign oil and consumers' generally more conservative energy use during the continued recession.<br />
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<strong>5. Bank of America (<a href="http://www.dailyfinance.com/quotes/bank-of-america-corporation/bac/nys" class="inlinked">BAC</a>)</strong><br />
Fortune 500 rank: 9<br />
Loss: $2.238 billion<br />
<a target="_blank" href="https://www.bankofamerica.com/">Bank of America</a> is the largest bank holding company in the United States, a position it reached through a series of big acquisitions. But the 2008 purchases of Merrill Lynch and Countrywide Financial have left it struggling with a host of expensive problems. In 2010, Bank of America was accused of defrauding local government organizations, schools and hospitals through the illegal investment of municipal bond sales and proceedings. Douglas Campbell, a former bank official, pleaded guilty to antitrust, conspiracy and fraud charges, and more executives within the company still under indictment and investigation.<br />
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<strong>6. AbitibiBowater</strong><br />
Fortune 500 rank: 474<br />
Loss in Millions: $1.940 billion<br />
<a target="_blank" href="http://www.bowater.com/en/?langtype=4105">AbitibiBowater</a>, the third largest pulp and paper company in North America, has been dealing with reputational damage from its destruction of intact forest land and wildlife habitats. Its failure to properly manage large areas of old-growth Canadian forest lost the company major contracts and led to its filing for bankruptcy in 2009. <span> Today, AbitibiBowater has successfully emerged from creditor protection after a 2010 reorganization and rebuilding effort. The transition was supported by unionized workers and aided politically in </span>Canada, which eased regulations regarding pensions and job protection. A five-year contract was approved that included a 10% wage cut with increases to resume in 2012, a deal that is allowing the company to continue to recover.<br />
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<strong>7. MGM Resorts International (</strong><strong><a href="http://www.dailyfinance.com/quotes/mgm-mirage/mgm/nys" class="inlinked">MGM</a></strong><strong>) </strong><br />
Fortune 500 rank: 380<br />
Loss: $1.437 billion<br />
<a target="_blank" href="http://www.mgmresorts.com/">MGM Resorts International</a> is the new name of MGM Mirage, a change made to reflect its worldwide expansion strategy.<span> The gaming and <a href="http://travel.aol.com/hotels" class="inlinked">hotel</a> company owns some of the biggest names on the Las Vegas Strip</span>, including MGM Grand, The Mirage, and the Monte Carlo, as well as the Luxor, the Bellagio, and Mandalay Bay. Its big loss reflects the overall weakness in Las Vegas's tourism industry.<span> Revenue per available room from its Las Vegas properties decreased in 2010, and the company's bottom line suffered due to asset write-downs at its CityCenter property.</span><br />
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<strong>8. Williams (<a href="http://www.dailyfinance.com/quotes/the-williams-companies-inc/wmb/nys" class="inlinked">WMB</a>)</strong><br />
Fortune 500 rank: 257<br />
Loss: $1.097 billion<br />
<a target="_blank" href="http://www.williams.com/">Williams</a> is an integrated natural gas company that produces, gathers, processes and transports clean-burning natural gas to heat homes and power electric generation across the country. The company underwent a massive restructuring in 2010 that included a reorganization of its widespread pipeline holdings in Williams Partners LP. <br />
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<strong>9. PulteGroup (<a href="http://www.dailyfinance.com/quotes/pulte-homes-inc/phm/nys" class="inlinked">PHM</a>)</strong><br />
Fortune 500 rank: 486<br />
Loss: $1.097 billion<br />
<a target="_blank" href="http://www.pultegroupinc.com/">PulteGroup</a> is a home builder with operations in 60 markets and 28 states,<span> and dwindling demand for <a href="http://realestate.aol.com/new-homes" class="inlinked">new homes</a> took a serious toll on the Bloomfield Hills, Mich.-based</span><span> company last year. In addition</span>, Pulte Homes received a public reprimand in 2010 from the South Carolina Department of Labor, Licensing and Regulation after it found that the company had used substandard construction practices. <br />
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<strong>10. Boston Scientific (<a href="http://www.dailyfinance.com/quotes/boston-scientific-corporation/bsx/nys" class="inlinked">BSX</a>)</strong><br />
Fortune 500 rank: 305<br />
Loss: $1.065 billion<br />
<a target="_blank" href="http://www.bostonscientific.com/home.bsci">Boston Scientific</a> develops and manufactures medical devices used in treating wide array of conditions. Boston Scientific had to stop U.S. shipments of its implantable cardioverter defibrillators in March 2010 after it failed to submit paperwork to regulators on manufacturing changes, but resumed shipments in mid-April after regaining clearance. In addition, a recall resulted for previously shipped devices and caused the company to take a bit hit on sales. Boston Scientific also recently acquired competitor Guidant for $27 billion.<br />
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</div><br style="clear:both;"></p><p style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;"> </p><p><a href="http://www.dailyfinance.com/2011/05/23/the-fortune-500s-biggest-losers-down-billions-but-still-huge/" rel="bookmark" title="Permanent link to this entry">Permalink</a> | <a href="http://www.dailyfinance.com/forward/19939148/" title="Send this entry to a friend via email">Email this</a> | <a href="http://www.dailyfinance.com/2011/05/23/the-fortune-500s-biggest-losers-down-billions-but-still-huge/#comments" title="View reader comments on this entry">Comments</a></p>]]></description><category>AbitibiBowater</category><category>Bank of America</category><category>boston scientific</category><category>Energy Future Holdings</category><category>fannie mae</category><category>fortune 500</category><category>Freddie Mac</category><category>losses</category><category>MGM Resorts Internationa</category><category>profits</category><category>PulteGroup</category><category>sprint</category><category>Sprint Nextel</category><category>Williams</category><category>worst companies</category><category>worst performers</category><dc:creator>Cassandra Hubbart</dc:creator><pubDate>Mon, 23 May 2011 16:00:00 EST</pubDate></item></channel></rss>