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The 18-year-old son of a local state legislator was behind bars Saturday facing at least two burglary charges after being turned over to authorities by his father.

CIT agrees to sell home lending business (Banking Business Review)
CIT Group, a commercial finance company, has agreed to sell its home lending business, consisting of $9.3 billion in assets and related servicing operations, to Lone Star Funds for $1.5 billion in cash and the assumption of $4.4 billion of outstanding debt and other related liabilities.

Home Business

Business comeback is on track for Oretha Castle Haley (New Orleans Times-Picayune)
Developer and small-business owner Lee Stafford does not mind if his business plan sounds a little half-baked: a neighborhood coffee shop and bakery occupying the front of an old department store that gives its space over to an art house cinema at night, and also can be used as community meeting space.

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