Business briefs: Sallie Mae, Justice Department in $60M settlement

May 14, 2014 

WASHINGTON -- Student lender Sallie Mae has reached a $60 million settlement with the federal government to resolve allegations it charged military service members excessive interest rates on their student loans.

The settlement was announced Tuesday by Attorney General Eric Holder and Education Secretary Arne Duncan.

The deal settles a federal government lawsuit that accused the student loan giant of violating the rights of service members by imposing overly high rates and by improperly seeking default judgments against them.

Federal officials estimate that roughly 60,000 service members will be compensated as part of the settlement.

New laser gum surgery office in Lakewood Ranch

LAKEWOOD RANCH -- Dr. Lindsay Eastman opened his new state-of-the-art office in Lakewood Ranch this month.

Eastman will offer advanced periodontal treatments such as laser gum surgery and dental implants. The new office is next to the Lakewood Ranch Hospital, and will offer laser gum surgery, dental implants and traditional periodontal maintenance appointments. The office is open for appointments on Mondays and Thursdays.

The new office's address is 6310 Health Park Way, Suite 240, Lakewood Ranch.

Nelson Homes unveils model at The Concession

LAKEWOOD RANCH -- Nelson Homes Inc. -- an independently owned and operated Arthur Rutenberg Homes franchise -- opened its newest model this week, The Modena, at The Concession.

The Modena model is a great room floor plan that includes four bedrooms, four and half bathrooms, plus a den. The Lakewood Ranch-based builder expects to have its busiest year since the home franchise began operations in 2009. Last year Nelson Homes sold 30 homes at an average sales price of $850,780. So far in 2014, the builder has sold 10 homes with an average price of $1.2 million.

Radar center problem snarls Chicago air traffic

CHICAGO -- Almost 700 flights are canceled at Chicago's two airports after an electrical problem sent smoke into the control room at a regional radar facility, forcing officials to halt air traffic.

The Chicago Department of Aviation says a ground stop remains in effect, though a limited number of flights are departing and arriving.

The Federal Aviation Administration says personnel were evacuated for two hours from the Chicago Terminal Radar Approach Control facility in suburban Elgin at around 11:30 a.m. Elgin Fire Capt. Anthony Bialek says a bathroom exhaust fan in a ceiling overheated and melted some wires, and smoke was pushed throughout the facility's ventilation system.

There were no injuries, but the incident shut down one of the nation's busiest aviation crossroads.

Herald staff and wire reports

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