NATIONAL BRIEFING
An item in the National Briefing of the March 9 Business section gave an incorrect figure for the net worth of U.S. households in the fourth quarter of 2006. It is $55.6 trillion. (Published 3/10/2007)</br></br>The net worth of U.S. households -- the difference between total assets and total liabilities -- climbed to a record high of $55.6 billion in the final quarter of last year, boosted mostly by gains in stocks, the Federal Reserve said. For all of 2006, households' net worth rose by 7.4 percent, slower than the 7.9 percent increase in 2005. Household debt grew by 8.6 percent in 2006, down from an 11.7 percent increase in 2005.</br></br>Subprime lender New Century Financial stopped accepting loan applications as it struggles to obtain financing despite market speculation that the company could file for bankruptcy protection. The lender faces investor lawsuits and an investigation by federal prosecutors into trading in its stock.</br></br>David Einhorn, the founder of hedge fund Greenlight Capital, resigned from its board. Einhorn's hedge fund holds a 6.3 percent stake in New Century, according to a filing with the Securities and Exchange Commission.</br></br>CVS boosted its offer for Caremark RX for a third time, a day after Express Scripts raised its bid. CVS increased the dividend it would pay Caremark shareholders by $1.50, bringing the total offer to $62.19 a share in cash and stock. It's the "best and final offer," CVS said in a statement.