Sep. 22--BANK OF AMERICA

Bank of America said Monday that it had reached an agreement to pay the government $425 million to end a loss-sharing arrangement involving risky assets from the company's takeover of Merrill Lynch. But in a separate matter, the Securities and Exchange Commission decided to go to trial against Bank of America a week after a judge's stinging rejection of its proposed $33 million civil settlement with the bank involving bonuses at Merrill Lynch.

THE BOOKSHELF

"Awesomely Simple," John Spence (Jossey Bass)

Consultant and author John Spence says many businesses face the same sink-or-swim challenges in today's tough economy, but those challenges often aren't complex. He offers advice on cutting to the chase and dealing with such crucial tasks as seeing what must be done, attracting the best people, executing well and keeping customers happy.

WHAT'S HOT

These are the top-selling new vehicles through the Cash for Clunkers program when multiple engine options, flexible-fuel vehicles and hybrid versions are taken into account, according to updated government data. A Detroit Free Press analysis of the data came up with one difference, figuring that the Chevrolet Cobalt -- No. 16 on the government list -- was the eighth-best seller. Here's the top 10, along with total clunker program sales:

1. Toyota Corolla, 29,488

2. Honda Civic, 28,456

3. Toyota Camry, 27,137

4. Ford Focus, 22,388

5. Ford Escape, 21,894

6. Honda CR-V, 20,106

7. Hyundai Elantra, 19,797

8. Chevrolet Silverado, 16,330

9. Nissan Versa, 16,300

10. Ford F-150, 16,263

LOOKING BACK

Ten years ago in Business, the week of Sept. 22:

--Entercom Communications will sell KCMO-AM, KCMO-FM and KCFX-FM to gain government approval of its recent deal with Sinclair Broadcast Group.

--The Pershing Building just south of Union Station has been bought by Sterling Capital, owner of the Freight House Building north of the station.

--Fiorella's Jack Stack Barbecue hopes to add a third location -- in the renovated Freight House.

--A second-quarter GDP growth rate of only 1.6 percent eases fears that the Fed will raise interest rates.

--Mortgage rates drop to an average 7.7 percent on a 30-year fixed-rate mortgage.

| Greg Hack, ghack@kcstar.com

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