United Bank joins the family: New Orleans-based Liberty Bank and Trust has won federal regulatory approval for its acquisition of United Bank and Trust. Liberty, which is privately held, did not disclose a price. The deal gives Liberty four additional branch locations in New Orleans, Harahan and Opelousas. Liberty now has 19 locations in five states and eight cities, including three branches in Baton Rouge.
Well, $45 billion is a lot: The CEO of Bank of America says it may take several quarters for the company to repay the $45 billion bailout it took from the U.S. Treasury Department. Kenneth Lewis told CNBC today that he thinks the U.S. economy will bottom out in the second half of the year. “We’re at a point where you’re seeing mixed signals, just small mixed signals, some housing sales a little better than you’d think, or some car sales not being quite as bad as you’d think,” Reuters quoted him as saying. “It signals that you’re getting close to the bottom.”
Something to tell the boss when you get busted for watching YouTube: An Australian study found that people who use the Internet for personal reasons at work are about 9% more productive than those who do not, according to Reuters. Researchers at the University of Melbourne found that workplace Internet leisure browsing sharpened concentration. “Short and unobtrusive breaks, such as a quick surf of the Internet, enables the mind to rest itself, leading to a higher total net concentration for a days’ work, and as a result, increased productivity,” says the study’s author.
