Almost 10.7 million, or one in four, U.S. mortgages were “underwater” as of September according to research firm First American CoreLogic. According to its report, 23 percent of people with mortgages owe more than their home is worth, and another 2.3 million homeowners are within 5 percent of negative territory. Borrowers who are underwater are more likely to be foreclosed upon. Read the CNNMoney.com article.

Black Friday will be a good day to go shopping for a new car. CNNMoney.com released a list of seven cars that could have big discounts attached to them, including the 2009 Cadillac CTS, 2010 Ford Escape, 2009 Mazda RX-8, and even the 2009 Chevrolet Corvette. Many of the cars have rebates upwards of $5,000. For a full list of deals and what you can expect to pay, click here.

More people than last year said they are “definitely” going to go shopping on Black Friday, according to a survey by the National Retail Federation. The survey found that 57 million people would head to the stores, up from 49 million in 2008. Even more, 77 million, said they will make a decision after seeing the deals. Read the full story.

The Internal Revenue Service (IRS) issued proposed regulations under a new statute requiring that, starting with transactions in calendar year 2011, the gross amount of payment card and third-party network transactions be reported annually to participating merchants and the IRS. The provision was enacted as part of the Housing Assistance Tax Act of 2008 and is designed to improve voluntary tax compliance by business taxpayers and help the IRS determine whether their tax returns are correct and complete. See the proposed regulations.

Cedar Rapids-based Rockwell Collins Inc. announced its intent to acquire AR Group Inc. and its affiliated companies, including Air Routing International LP, a premier provider of trip support services for business aircraft flight operations. Air Routing is based in Houston, and employs 240 workers. “The acquisition of Air Routing will broaden our information management and aftermarket services offerings,” said Rockwell Collins Chairman, President and CEO Clay Jones in a release. “Air Routing’s strong customer relationships, flight operations support services and trusted agent network complement our information management strategy to deliver enhanced value to business aircraft operators.” The transaction is expected to be completed in about 40 days.