Generate an emergency fund to avoid costly, unnecessary debt

Numerous individuals have a lot of debt. A lot of this comes from not having an emergency fund. Without an emergency fund, the slightest hiccup in a person’s life can result in debt. You may end up with a huge financial disaster. That mostly happens when something bigger comes along. As a rule, people don’t expect the unexpected. It is also easier to say create an emergency fund than it is to actually do it. But the nickels and dimes that get wasted every single day add up to dollars that can’t be used tomorrow. So possibly creating an emergency fund is easier than most individuals think.

We all need an emergency fund eventually

Consider car problems. You have to repair it. Even Brad Chaffee at Enemy of Debt thinks an emergency fund is important. He tells a tale of why. A woman was noticed in Sears when he was in there getting new tires. She happened to have a really large repair bill needing to be paid. She had no extra money, along with poor credit. Sears typically makes a lot off of high-interest cards, but she couldn’t even qualify for that. The only card the customer service could get her was a $ 400 line of credit with a $ 59 annual fee and a 28 percent APR. Even that card, with its harsh terms, wasn’t enough to help her.

You’ve to pay the saving bill

If you don’t have an emergency fund, you need to get one. Bankrate says this is something essential to do. A double dip recession may be right around the corner. Bankrate recommends stashing three-to-six months in living expenses and emergencies. You might just start with a money market account that you put $ 50 a month into. Treat the contribution as a bill that have to be paid. After you’ve saved two months worth of savings within the money market account, you are able to move some. You are able to put one month into a one month CD. Following the month is up, you still have things to do. The principal and interest should be moved to one more one month CD. Once you’ve an additional month of living expenditures inside your fund, you can move it to a two- or even three month CD. You will be able to move on eventually. You will be able to do six month CDs.

Money buys stress relief

Personal finance basics are all you need. They’ll help you get an emergency fund. Studenomics recommends paying the emergency fund first before all the other bills. From there, people do not have to be cheap if they spend money wisely. Especially if they can control their debt (see emergency fund). It is still ok to enjoy your life. It doesn’t have to be hard. Saving money could be easy. There a lot of individuals who like saving money. It makes life more enjoyable. Emergency funds relieve stress occasionally. This also helps when buying entertainments, family trip and even dining out.

More on this topic

Enemy of Debt

enemyofdebt.com/2010/08/perfect-example-as-to-why-you-must-have-an-emergency-fund/

Bankrate

bankrate.com/brm/news/pf/20011217b.asp

Studenomics

studenomics.com/personal-finance/systematic-personal-finance-does-it-work/

Hazard tourist getting spicy income regarding Mexico

Each and every nation depends upon vacation to bolster its economy.American travel and leisure in Mexico is commonplace, and Mexico benefits greatly from this arm of commerce.The traditional image of a Mexican escape involves beaches, surfing, parasailing, margaritas and horseback trips to restorative hot springs in far-off villages.However, a new phenomenon has surfaced, reports Reuters.”Danger tourism” that takes thrill-seekers to the maelstrom of sex, drugs and open violence of the current drug war is all the rage.

Threat tourism is not your dad’s Mexican vacation

The majority of Mexico vacation supporters aren’t paying to be mugged and abused, however some adrenaline junkies want to see the Mexico that exists outside of resorts.Such agencies give the morbidly curious the chance to see Zapatista rebels up close.Places like the Tepito illegally in Mexico City, for example. Drugs, underage prostitution and contraband are the stock in trade.Cesar Estrada, proprietor of Universal Travel, indicated to Reuters that despite the very real chance that tourists will be robbed at gunpoint, such danger vacation is quite popular.

”We tell visitors to dress simply. If they want pictures, our guides take them discreetly,” Estrada told Reuters.

A trip into ‘the real Mexico’

Risk tourism grants the daring “the kind of insight into the real Mexico one could not get in a beach resort like Cancún,” said tourist Donata Von Salviati to Reuters.For a modest fee of 200 pesos ($ 15), danger tourists can live the migrant flight experience in a nighttime scramble for the border.Food, water and other creature comforts are not allowed.If the tourists do not run fast enough, faux-immigration trucks violently apprehend them.

Will Mexico benefit from this?

Reuters reports that it is unclear at this point exactly what kind of an effect hazard tourist has had on the Mexican economy.When one considers that nine percent of Mexico’s overall economy depends upon travel and leisure dollars, risk travel and leisure could not be anything other than a shot in the arm, despite the ravages of the drug war.The trail of money is much appreciated by America’s neighbor to the south.

Discover more information on this subject

Reuters

reuters.com/article/idUSN2463303

Farmers in Missouri and Kansas are getting emergency money from U.S.D.A.

The lower Midwest weather this summer has hurt farmers. Flash flood damage left the area around Kansas city in a disaster state and help is coming from the U.S.D.A.. Farmers need advance on cash because of damaged crops can have loans accessible to them. These farmers have a few months to choose whether or not they need loans. They can file for them later. Interest on the loans is very low. The Midwest has seen a lot of damage this year. Tornados and a ton of rain have caused damage. Resource for this article – Missouri and Kansas farmers to get emergency money from U.S.D.A. by Personal Money Store.

Summer heavy rains

The Midwest got a lot of rain. There were numerous storms coming from the Gulf to the Great Lakes. These include the Milwaukee floods and the Oklahoma tornadoes that caused a lot of problems. Kansas city has seen a lot of pain as well. The U.S. Department of Agriculture announced six of seven counties in the Kansas City, Mo., metro area natural disaster areas, and those counties could use some money now to help rebuild.

Farms get hurt

The weather has hurt the summer crops of the farms in the area. According to the Kansas City Business Journal, wind, rain, and flash flood damage has wrecked a good portion of this summer’s crops, and emergency money could be made available. Farmers who wish to take out these low cost loans can file for loans through the Department of Agriculture. 100 percent of losses can be covered with the 3.75 interest rate. Farmers can borrow quite a bit. The max is $ 500,000. Not counting the six Kansas City counties, disaster has been declared on 55 counties in Missouri and 47 counties in Oklahoma.

Mother Nature can take a toll

Many say Mother Nature isn’t really kind. Farmers do a good job of feeding us all, although too much rain means ruined crops for most areas.

Further reading

Business Journal

bizjournals.com/kansascity/stories/2010/08/23/daily12.html

Video game content debated, Medal of Honor

The game series “Medal of Honor” has been in need of a reboot after a successful run. However, the newest game within the series has ignited some fiery debate. Previous entries within the video gaming series took place in World War II. The newest version is set in the present war in Afghanistan. This video game is just a little different. As opposed to other games, not only are players in multi-player mode playing as US or UK forces, they can also be the Taliban in “Medal of Honor 2010.” Individuals are calling for a ban, such as the Minister of Defense for the UK.

Video game selling opposed to through Fox

Liam Fox, the Defense Secretary (“defense” gets a “c” in British English) for the United Kingdom, has called for the game to be banned. He is opposed to the sale of the video game through retailers, according to The Guardian, and doesn’t think any person should purchase it. The fact that players can be within the Taliban in multiplayer mode is the root of the controversy, and would be shooting, virtually, at US and UK troops. There are others who oppose the game. It would seem sacrilegious to shoot at American or British troops, even in an online gaming pretend reality. Considering games in other series for instance the “Call of Duty” series, took place in Afghanistan and Iraq, it was only a matter of time before this scenario arose.

Electronic Arts responds

The game is by Electronic Arts, and this version of “Medal of Honor” is the first not to take place in World War II. EA’s PR Representative, in AOL News, said the game play is no different than how children play. Police are opposed to through criminals, cowboys must contend with Indians and their own weak offenses in the post season, and within the video game, “someone’s gotta be the Taliban.” Opponents also observe that Word War II is removed from modern history by a long time, and thus games in which individuals could be Nazis in multiplayer are less harmful as a result.

Debate markets games

There are two universal outcomes to any controversial video game. First, some people get offended and raise a fantastic ruckus. Second, the game sells lots of units, if anyone can recall “Grand Theft Auto” or the first “Mortal Kombat,” for example. It was inevitable that a video game of this sort had this exact feature. Steven Spielberg actually helped to create the first “Medal of Honor.” That first video game had some multiplayer characters which were interesting also. William Shakespeare and a German Shepherd were un-lockable characters, as was a Velociraptor from “Jurassic Park”. Remember, this is the game where you can kill Nazis as a dinosaur, so maybe you shouldn’t take it too seriously.

Find more details on this subject

AOL News

aolnews.com/nation/article/new-video-game-will-let-you-play-as-the-taliban/19588413

Guardian

guardian.co.uk/technology/gamesblog/2010/aug/23/liam-fox-medal-of-honor-ban

And now for something entirely the exact same - one more Toyota Recall

This year has led to a lot of auto recalls. One of the most well-known auto recall this year probably came from Toyota when a recall on the faulty accelerator pedals happened. At least consistency is shown with another Toyota recall coming. This recall is not as noticeable considering there are less cars with difficulties. Only a few model years have to be recalled. Not only that, but only two different cars are being within the recall also. Even though it is small, Toyota will get hurt since it is still trying to get better following the recall from before.

Yet another Toyota recall

There have been a number of recalls from Toyota. Toyota recalls are fairly regular right about now. There has also been a new recall just announced to the public. The Toyota recall has 1.3 million autos involved. The problem has to do with the engine. There is an issue with how the engine control module works. It is not working right. The engine problem makes it so the motor won’t start with a stall when driving. Also, says CNN, shifting can be affected as well. There are accidents from the problem. Of course, the accidents are few.

Fix 1 million cars needing help

The Toyota Corolla and also the Toyota Matrix are the two models being recalled. From 2005 to 2008 there are issues. The circuit board can crack in the Engine Control Module which is in the 1ZZ-FE engineThe 1ZZ-FE has engine has a serious problem. The circuit board can crack within the Engine Control Module, which isn’t good. The engine might shut off while driving or affect the shifting. Engines may also be unable to start. There are 1.13 million automobiles within the U.S. and an additional 200,000 in Canada that might be affected. According to the Los Angeles Times, this will bring the number of autos Toyota has recalled this year to about 10 million. There is an investigation being run. This is coming from the National Highway Traffic Safety Administration.

After years of market share Toyota can do no right

Toyota has had market share in U.S. auto sales. This has been for the last few years. This might be just what Toyota needed to break that trend. Those customers would go to General Motors, Ford and Chrysler if it were possible.

More on this topic

CNN Money

money.cnn.com/2010/08/26/autos/toyota_corolla_recall/

LA Times

latimes.com/business/autos/la-fi-autos-toyota-20100826,0,7145846.story?track=rss

10 cars stolen the most

Numerous people keep track of cars that are stolen often. This is to help knowing which cars to avoid buying. Probably the most stolen cars in the U.S. is something the Insurance Institute for Highway Safety decided was important to make certain is known. The IIHS just released the newest list of stolen cars for the year. Thieves wouldn’t be at all surprised at what is on the list.

First there is the Escalade

For some reason, Cadillac Escalades are popular. They are the cars most stolen. Not only that, but in six of the previous seven IIHS reports, the Escalade has been the leader of stolen automobiles. The Escalade gets stolen way more than any autos. To be precise, about seven times more. Despite the fact the luxury SUV does come with some anti-theft features, car thieves simply tow them away. The Escalade is targeted for its glamorous nature. This is in contrast to other luxury SUVs just like the Land Rovers that aren’t as targeted. You can find the rest of the report on the Insurance Institute for Highway Safety . You need to check it out.

Car thieves are the exact same as raccoons

There’s an urban myth that raccoons are especially attracted to anything bright and shiny. While the animal’s predilection toward such gleaming metal is not proven, car thieves’ proclivity for cars that shine is. The IIHS report for probably the most stolen autos lists luxury SUVs, luxury cars and full-size pickups as probably the most usual targets. Here’s the full list of most stolen automobiles:

• Cadillac Escalade
• The Ford F250 4 Door is your next car
• Third is the Infiniti G37 2 door
• Dodge Charger HEMI
• Next is the Chevrolet Corvette Z06
• Hummer H2
• Now is the Nissan Pathfinder Armada
• Another choice car to steal is the Chevrolet Avalanche 1500
• Chevrolet Silverado 1500 Crew
• Last is the GMC Yukon

Thieves really just want the exact same thing. This means performance cars, luxurious SUVs and big pickups. Usually there are tools in trucks too, which thieves won’t complain about.

Cars match one more list

There is an additional list some of the above autos are on. The Escalade and Ford F250 are on the list. This list is the Forbes Worst Made Cars on the Road. Avoid buying flashy new cars. This is something thieves look to get. Go ahead though when you have cash to buy a new car.

Further reading

IIHS

iihs.org/news/rss/pr080310.html

Forbes

forbes.com/2010/04/07/worst-made-cars-lifestyle-vehicles-gm-ford-chrysler_slide.html

Latest credit card changes reign within overdue penalties

The final package of new credit card rules went into effect Sunday. Limits on late payment fees and also other fees and penalties are enforced with the last collection for rule changes. This completes a major overhaul of the credit card industry that was set into motion by the Credit Card Accountability, Responsibility and Disclosure (CARD) Act of 2009. One of the newest federal laws cuts late payment fees to an average of $25.When brand new credit card rules have been implemented over the last year, credit card companies have implemented huge interest rate increases in kind. One with the brand new rules calls out the card-issuers to either support those increases with legitimate reasons or roll them back.

Utilizing any slack to late fees as well as rates of interest

The newest credit card rules enacted Aug. 22 prohibit credit card companies from charging more than $25 for past due payments, end the practice of charging customers for not using their cards, and also order them to reconsider rate of interest increases imposed starting from Jan, 1, 2009. A CNN article on the brand new charge card rules said that if the market conditions that warranted the rate of interest increases no long exist, those interest rates must be adjusted accordingly. Compliance with the rule could be enforced by regulators hired by the federal government to assess the charge card company’s rationale. Nevertheless, the $25 penalty limit can be lifted in a way that charge card corporations will no doubt abuse as much as they can get away with. If a customer’s past due payments are deemed habitual, the penalty can be hiked as high as can be accredited to the cost to the card-issuer for dealing with overdue payments. Further checks on penalties conta! in a rule preventing past due charges from increasing above the minimum payment, or overdue costs totaling more than the dollar amount charged over the credit line.

Charge card corporations addicted to fee charges

Charge card corporations are facing a $3 billion hit to penalty fee revenues from the last round for new charge card rules. The Wall Street Journal reports card companies have already been raising fees on balance transfers as well as money advances, boosting charges for overseas transactions and also charging higher annual fees. Cardholders can also expect their minimum monthly obligations due to increase. This tactic allows card-issuers to effectively rise the restrict themselves on the overdue fee. Banks addicted to big money for nothing via penalty charges will scramble to keep the money flowing . A credit industry executive told the Journal that before the new credit card rules, credit card companies collected about $11.4 billion in late costs. The windfall is forecasted to slip to merely $8.1 billion-a 29 percent decline.

Consumers aid as well as abet charge card company greed

Rates of interest have been raised by charge card corporations to combat the added consumer protection provided by the brand new charge card guidelines. A separate CNN story on the subject said that interest rates on existing credit card customers swelled to a 14.7 percent average in the second quarter-13.1 percent higher than 12 months ago . Synovate, the research division for Aegis Group, said the current difference between the prime rate as well as the average cardholder interest rate is 11.45 points-more than it has been in 22 years. Consumers played along, spending with credit cards at the second-highest rate ever in the second quarter, as outlined by Synovate .

Additional reading

CNN

money.cnn.com

Wall Street Journal

wsj.com

Hipmunk helps with lower air fare

Adam Goldstein started a summer project which might just be the best way for online flight search called Hipmunk. Goldstein got just a little bit of help from friend and Reddit co-founder, Steve Huffman. This was how they came up with the new site. The site is user-friendly and has many colors, making Goldstein a genius within the website business.

Hipmunk is a huge change to travel

Normally there is a boring list of flights on websites. Hipmunk changes this by making it more easy to read and colorful. Hipmunk just launched this week, but tech industry reviews are glowing. TechCrunch writes that “When you see the results you’ll never want to see flight results in any other format.” The team spent a lot of time on how the look of Hipmunk is perceived, which is said by Lifehacker to be “fantastic” which pleases Goldstein. There’s no clutter of text and buttons, just a color-coded arrangement of airlines. Searchers and very easily zoom in on a favored in the grid at any time for additional details.

Maybe winning with ‘a small, cute animal and a good logo’

Orbitz was probably the most popular online travel company that Goldstein and Huffman made their deal with for flight booking after checking many different online websites. Orbits and Hipmunk work together to book flights. Hipmunk books it through Orbitz making both win. When going to Twitter, the bluebird is acknowledged as the logo. Hipmunk is about the exact same considering the chipmunk in flight goggles that will soon be recognizable. Goldstein’s girlfriend, according to CNN, chose the mascot.

Goldstein explains, “She said, ‘If you pick a small, cute animal and a good logo you’ll never go wrong.’”

Storing acorns for winter

Hipmunk has been evolving a bit. It is trying to improve each day with new ideas. Expanding search functions is something Goldstein would like to do. He’d also like to stop spam from hitting users each and every time they get on. It’s more likely that hotels and auto rentals will be added on. Numerous wonder what Hipmunk’s plans are when it comes to adding content. It might be difficult to keep up the design with these changes. Of course, all of us know that getting a flight will change. It can be less frustrating to do.

Find more info on this subject

CNN

money.cnn.com/2010/08/19/technology/hipmunk/

Hipmunk

hipmunk.com/

Overflowing potash need is catalyst in BHP hostile takeover bid

For people in the agricultural industry, potash has been a hot topic recently. Agriculture thrives off of potash which is meant to help with its potassium. Potassium really only comes from potash when it comes to fertilizing crops. Potash is really essential to food. Without it, we would have no food supply. The potash hasn’t been doing also recently. This is because other minerals were needed over potash. There is designed to be a change with potash in the lead. An Australian minerals company has decided that is why they’ll take over, in a hostile manner, a Canadian potash company.

Shareholders more interested in Potash rather than BHP

Potash Corporation of Saskatchewan, known as Potash, has control over a big chunk of the world’s potash market. There is a big minerals extraction company in Australia called BHP Billiton that wants to be the future owners of the Canadian fertilizer company. The New York Times reports that a few days ago BHP made an offer to acquire the company for $ 130 a share. The offer was not enough, if you ask the Potash board. A tender offer is being used by BHP for a hostile takeover of Potash. This means shareholders get to see the cash directly in front of them. Potash is trying to get a better offer from another while getting shareholders to stop selling to BHP.

World would go hungry without potash

Potash is produced in 12 countries. Canada, Russia, Belarus and Germany are the countries that make over 75 percent of all the potash. Reuters reports that potash is the generic term for different compounds containing potassium, a critical ingredient in fertilizers. Crops to better with quality and quantity with potash that also makes disease less likely. It is the only existing source for potassium in fertilizer. Potash hasn’t been very stable in price. The prices are volatile for years. Less than $ 150 a ton was how much it sold for ten years ago. The price of potash skyrocketed to more than $ 1,000 a ton during the global food crisis of 2007-08. Since then, it has crashed to about $ 350-$ 375 a ton.

Wanting Saskatchewan potash

Potash has been ignored recently. It took the moves by BHP for everyone to acknowledge its existence. The growth of demand for potash within the last five years has gone up quite a bit. It that continues, by 2011 the potash supply could never be enough for the world, reports Entrepreneur. You will find numerous countries wanting more meat making it so potash is more needed. Examples of these countries are Latin America, China and India. Another factor is exploding growth in biofuels such as ethanol, which the UN said could meet 25 percent of the worlds energy needs within the next 20 years. Wheat and corn prices have gone up through this already. Now it seems that potash demand has to go up as well. It is hard to make more potash though. Right now the potash mines are mostly all old. In fact, 85 percent of the mines are 25 years old. Saskatchewan potash can’t produce much more.

More on this topic

New York Times

dealbook.blogs.nytimes.com/2010/08/20/bhp-begins-tender-offer-for-potash/?src=busln

Reuters

reuters.com/article/idUSTRE67J2SQ20100820

Entrepreneur

entrepreneur.com/tradejournals/article/166229304.html

For-profit colleges now have to deal with federal aid troubles because of Gainful employment rules

There was a report released by the Education Department last week. It showed that two thirds of students at for-profit schools are avoiding their federal student loan payments. Federal aid needs might be changed because of “Gainful employment” rules that may come out. The investment of college is being challenged a growing number of. New gainful employment rules require for-profit colleges to prove that a graduate’s projected income makes student loan debt worthwhile.

Gainful employment rules and student loan repayment rates

Federal student loan repayment rates are forcing the Education Department to write new gainful employment rules. When students from for-profit schools have less than 45 percent of graduates repaying their loans, the schools will lose federal aid. In an article about the report, the Los Angeles Times said the federal student loan repayment rate at for-profit colleges was only 36 percent in 2009. Repayment rates at nonprofit private schools was higher. It was about 56 percent. State schools ended up having a poor rate too. Only 54 percent did pay their loans. Without federal aid, for-profit schools would lose a lot. They might even have to shut down. Some schools almost totally rely on federal student loan funding. 90 percent coming is from loans.

For-profit colleges must prove return on investment

Gainful employment rules also consider the total student loan debt and average earnings. The Center for College Affordability offers numbers on how the debt to income ratio has to be for students to get loans. Discretionary income has to be less than 20 percent when the total income has to be less than 8 percent. If the college fails these tests, it must disclose its graduates’ debt-to-earnings ratios to prospective students.

For-profit colleges take advantage of the government

Federal aid has gone up. This is especially true of for-profit colleges. For-profit colleges received quite a chunk of cash in just 2000. $ 4 billion was given in federal student aid, reports NPR. Now $ 27 billion is given. Students are getting a hard sell from marketing companies branding themselves as colleges. Cash is borrowed to pay for these classes they take but have to pay for. Many pay too much for this degree. The degree isn’t really worth hardly anything. They can’t get a job that would enable them to pay back the loan. The bill is paid by taxpayers.

Investing in college

Is it worth paying for college with student loans anymore? College costs are rising. MSNBC has Allison Lynn working for them who says that college is just an additional investment that needs to be cautiously looked at before making a decision. Future income won’t likely come from a degree in philosophy. And experts say individuals should look at how much in student loans they absolutely need, and how much they can pay out of pocket with a part-time job, family help or savings. Suze Orman works in finance and says that loans should never exceed what you want to make your first year of school.

Discover more information on this subject

Los Angeles Times

articles.latimes.com/2010/aug/16/business/la-fi-for-profit-colleges-20100816

NPR

npr.org/templates/story/story.php?storyId=129259157

MSNBC

msnbc.msn.com/id/38561562/ns/business-personal_finance/

Clickjacking is one more social network scam but for Facebook

This week, Facebook scams seem to be all over the place. Today Facebook warned users about a new clickjacking scam that milks $ 5 a week from cell phone accounts by exploiting Facebook’s “Share” feature. Seems like that Facebook has let the clickjacking scam and dislike scam emerge together. Facebook buttons that don’t really exist, like the likejacking scam last May, are what these scams use. Typical red flags to notice and recognize are how Facebook users can stay away from these scams.

How to Facebook clickjack

The Facebook clickjacking scam uses the Share feature that posts content to the profile wall where friends are encouraged to click on it. PC World explains:

A user clicks a link to a Facebook page for “10 Funny T-Shirt Fails” for example. Once on the page, a message says Facebook’s new three-step human verification process is required to see the content. On step two, users are asked to click the “Next” button. The Next button is a dummy. Hidden underneath is a real Share button. When users click Next to get to the final step, they actually post that page to their profile wall. Lured to step three, users are asked for personal information to enter a contest. Among other things, the survey asks for a cell phone number. Down in the survey’s fine print it says providing the data tacks an extra $ 5 per week onto the users cell phone bill for a service called “The Awesome Test.”

Facebook also had the dislike button scam

The Facebook dislike button scam emerged because of Facebook user demand. There is no “dislike” button on Facebook. Walletpop reports that the scam involves a bogus “Dislike” button intended to install malicious spyware for identity theft. The bogus button is found with a link saying “Get the official DISLIKE button now”. The link leads to a bogus “install” page. If there really was a dislike button, it wouldn’t have to be installed. The users have to allow the application to run to install it. Then they’re asked to complete a survey — the exact same trick used in the Facebook clickjacking scam.

Facebook scams are everywhere

Facebook decided any fan page that had the clickjacking scam somehow a part of it would be removed. Cell phone companies of those filling out surveys need to be called. Scam patterns are easy to recognize for Facebook users, says Reuters. Be smart and skeptical about it all. Beware of status updates from friends that seem out of character, like a heavy metal dude posting about Justin Bieber. Check out how the update was delivered and written. Facebook won’t need apps like the “Official Dislike Button” for its own stuff. And scams will always give themselves away by sending users from Facebook to one more website.

Further reading

PC World

pcworld.com/article/203546/facebook_warns_of_clickjacking_scam.html?tk=hp_new

Wallet Pop

walletpop.com/blog/2010/08/16/dislike-button-on-facebook-a-scam/

Reuters

reuters.com/article/idUS162937196620100817

Rod Blagojevich has guilty verdict

Rod Blagojevich, disgraced Illinois governor, has just had his trial finished. Two weeks of deliberation left the grand jury giving a single guilty verdict out to him. Blagojevich received a count of lying to the Federal Bureau of Investigation. Since he gave false statements to the government, five years in prison could be given, although sentencing hasn't happened yet. Federal prosecutors have already announced they fully intend to re-try Blagojevich.

Two weeks before verdict

Because he was trying to sell the seat in the U.S. Senate vacated by Barack Obama on surveillance, Rod Blagojevich got arrested two years ago. He was impeached and removed from office because of this. He was charged to have 24 accusations. Two weeks was enough time for the jury to decide what the verdict was. The judge announced a mistrial on 23 of the 24 accounts and announced the guilty verdict on one count of providing a false statement to the FBI.

U.S. Attorney wants a retrial

The New York Times, reports that a retrial for Blagojevich is wanted by the U.S. Attorney's office. He was nevertheless convicted, after all, of one count of lying to the FBI. A federal crime was committed meaning five years or a $ 250,000 fine could be given to him. Some hope that he can be given both.

Blagojevich as stereotype in Chicago

Chicago, Ill., has a long history of political corruption. George Ryan was removed from office and convicted also, as Rod Blagojevich's previous governor. Ryan was convicted of corruption putting him in federal prison. We have no idea where Rod Blagojevich will be since a second trial may be happening soon. Five years in prison could be where his life goes.

U.S. economy does better because of video games

There has been an obvious change in video games considering now vs. the days with Pac Man and Space Invaders. Economists Incorporated reports that a study done for Entertainment Software Association called “Video Games within the 21st Century: The 2010 Report,” showed $ 5 billion was going to the economy in 2009 because of these games. From 2005 to 2009, the video game industry’s annual growth has exceeded 10 percent, which is more than seven times the growth of the entire U.S. economy.

More jobs with video games

Michael Gallagher, CEO of ESA, explained that job creation has grown at a “rapid pace." It is also making “an significant contribution to our nation’s economy when stimulating technological innovations and expanding the impact of games on our daily lives.” The average salary of a video game industry worker is about $ 89,781. You will find typically about 32,000 people working also. Video games have made it possible for numerous in the U.S. to get jobs.

California does it all

Video game workers largely live in California. Compensation was a big part of their budget in 2009. $ 2.6 billion was given to direct and indirect employees. That translated into $ 2.1 billion in revenue for the state.

The next two states to follow are Texas and Washington. Virginia also showed tremendous growth from 2005 to 2009, expanding its video game industry presence by a whopping 77 percent.

Value of entertainment

A recession means spending budget cuts in families. Usually entertainment is a part of this. Video gaming is pricey with PCs costing a ton and consoles being anywhere from $ 200 to $ 500. Also, games themselves will still cost between $ 20 and $ 60. Since movie prices have gone up, it seems like video games may be better considering one can spend between 40 and 100 hours playing many of the games bought. Video games have been proven to promote hand-eye coordination and even have therapeutic and developmental uses. The economy is also doing better because of video games.

Discover more info on this subject

Theesa

theesa.com/facts/pdfs/VideoGames21stCentury_2010.pdf

Washington State Lt. Gov. Brad Owen knows ‘Pong’

youtube.com/watch?v=M-b9wEww9MA

Taxpayer installment loans to be paid shortly after Gm IPO

GM has ultimately put in the papers for what has been expected for weeks. The particular specifics probably will not be out for some time, but a Gm IPO has just been filed. So far, what is for sure is that Gm will be offering preferred shares, but how numerous shares is not clear. The organization will get some debt settlement relief from it, and also the United States of America Treasury is going to see some of their debt from General Motors wiped clean. The company is getting closer to its freedom, and could also get some huge cash quick. Article source – Taxpayer payday installment loans to be paid soon after GM IPO by Personal Money Store.

Gm IPO forthcoming time

A General Motors IPO was filed for on Wednesday, Aug. 18. The Initial Public Offering could possibly be quite the pay day, as outlined by the New York Times. Preferred shares will be in the offer. The total number of shares probably won’t be known for awhile. Chairman and CEO Ed Whitacre had previously announced that he would retire once the business was back on track, which he recently announced he was going to do by the end of the year. A lot of debt can be paid off by this first public offering.

Paying off of debt a major advantage

Among the numerous benefits of this sale of shares, and re-listing of GM, can be paying off a large part of the installment loans from the Treasury. According to CNN Money, the Treasury has agreed to sell some of the government’s stake in General Motors. Currently, the U.S. Government holds 60.83 percent of General Motors shares, and the Canadian government holds a further 11.67 percent. The Treasury has been paid $7 billion by General Motors so far.

Back in the black

The IPO is likely to get General Motors even further out of debt. The taxpayers likely definitely won’t be asked for one more loan until payday, as Gm has been posting profits for the last two quarters. The IPO would have to clear about $67 billion for taxpayers to break even on the auto bailout.

More on this topic

NY Times

nytimes.com/2010/08/19/business/19auto.html?_r=1

CNN

money.cnn.com/2010/08/18/news/companies/gm_IPO/

N-word problem means Dr. Laura quits

Dr. Laura Schlessinger, radio industry veteran, should know also as any others that it is easy to get in trouble when calling a black called the “N-word” 11 times on the air. Dr. Laura gets to be a part of history now. And the heat in that kitchen is evidently too much, because “Dr. Laura quits” headlines are everywhere.

The radio show no longer has Dr. Laura to work with

Dr. Laura will quit the radio show after the contract expires, says PopEater. Because she “wants to regain her First Amendment rights,” is why this radio diva told CNN’s “Larry King Live” that she’s quitting. Schlessinger did once believe that Howard Stern needed those rights taken away from him.

Dr. Laura thinks this is really an empowering move on her part.

“I want to be able to say what’s on my mind and in my heart and what I think is helpful and useful without somebody getting angry – some special interest group deciding this is a time to silence a voice of dissent and attack affiliates and sponsors,” she told King.

Apology not accepted by Schlessinger

The doctor maintains the argument, even after apologizing for using the N-word, that she “wasn’t dissing anybody”. The production company for Dr. Laura has claimed they are just letter her “pursue opportunities” rather than work with them. General Motors and Motel 6, two national sponsors who have pulled the plug on Schlessinger aren’t dissing her, either.

The next part of the Dr. Laura quits

Dr. Laura has quit before, says TMZ. She almost had her own CBS TV talk show in 1999. However, Dr. Laura added the condition that she would only work for CBS if it would “muzzle” Howard Stern and not allow him to speak ill of her on his own show. CBS balked at her condition, understandably. Dr. Laura did do a TV show for a little while for Paramount after. She got in trouble with gay rights groups after talking bad about homosexuals on the show. They called for her dismissal via the StopDrLaura.com campaign, and more than 170 advertisers left the show. Dr. Laura even lost Dodge.

More on this topic

PopEater

popeater.com/2010/08/18/dr-laura-schlessinger-leaving-radio/

TMZ

tmz.com/2010/08/18/dr-laura-schlessinger-radio-tv-quit-larry-king-howard-stern/

Wikipedia

en.wikipedia.org/wiki/Laura_Schlessinger

Dr. Laura tells wives to ‘get under your men’

youtube.com/watch?v=_mvm7moVvSs

Retail sales are not rising as fast as envisioned

The US Census Bureau has just released its figures for the retail sales in July. The Census Bureau observed that retail sales for July grew about 0.4 percent from June and had grown 5.5 percent since June of 2009. The increase was not as big as they had been projected to be. Economic indicators are pointing toward a slower recovery. Consumer prices also rebounded slightly after various months of slight decline. Consumer prices are being watched closely, as increasing prices and decreasing incomes and assets are signs of deflation.

Retail sales get a slight bump|Slight bump for retail sales|Retail sales get less than an Oprah style bump|Modest gain in retail sales|A slight gain in retail sales}

There was a slight increase in retail sales for July. The U.S. Census Bureau reports that retail sales as a whole increased by 0.4 percent for July, but that figure could be somewhat misleading. There was a 0.42 percent drop in discretionary spending, on things for instance appliances, furniture and so forth, fell 0.42 percent for the month of July. Discretionary spending is up 2.77 percent from a year ago, according to the Christian Science Monitor. According to the Wall Street Journal, retail sales had fallen in May and June of this year, as May had a dip of 0.3 percent and June slid a further 1.0 percent.

The modest gain was spurred by auto sales

Ford and General Motors are returning to making profits, which accounts for a boost of auto sales in the retail sales figures. The bulk of the retail sales increases, as outlined by Bloomberg, were due to sales of automobiles and also the gas necessary to drive those new vehicles around. All other purchases combined for a drop of 0.1 percent. Consumer prices also ticked higher. There was a gain of 0.3 percent within the Consumer Price Index, which means the cost of living is increasing when more people are unemployed and underemployed.

Watching for signs of deflation

The unemployment rate is still almost 10 percent, and recovery is progressing slowly. The Federal Reserve is at the moment looking for signs of deflation, which is where prices of goods increases when less money is available to go around. Less wealth is held in housing, and fewer people are employed fully. The indicators seem to point to cautious consumers, as less spending and more saving appear to be the orders of the day.

Citations

CS Monitor

csmonitor.com/Money/Paper-Economy/2010/0813/Retail-sales-up-in-July

Wall Street Journal

blogs.wsj.com/marketbeat/2010/08/13/price-retail-sales-data-arrive-in-line-with-expectations/

Bloomberg

bloomberg.com/news/2010-08-13/retail-sales-in-u-s-increased-0-4-in-july-less-than-economists-forecast.html

Fed monetary stimulus struggles to fight out of liquidity trap

The Federal Reserve is hoping to discover a way to bring the U.S. back to where it way before the economy collapsed by working with the money supply. The Fed would really like to keep their rates down as low as they are and are doing so by taking interest from mortgage-backed securities along with getting U.S. Treasury notes and bonds. The public market should be able to get more money into it with this, called monetary stimulus or quantitative easing. Debt can be monetized with an expanding money supply meaning interest rates will, in theory, go down. Businesses and consumers will want to borrow and spend more, because savings basically earns no interest.

Fed concerned with the economic outlook and bringing forth the monetary stimulus

An earlier round of monetary stimulus during the economic downturn seems to have failed to spark a sustainable recovery. Reuters reports that the second round of quantitative easing, dubbed QE2, is probably the most important monetary policy announcement for the Fed since it first revealed its intention to buy assets in late 2008. Right now it appears that just the announcement of QE2 is having an opposite affect than planned. The economy must be in really bad condition if the Fed is willing to admit how bad the economy is with a monetary stimulus. Markets were doubted through the announcement. Stocks dived. A Japanese-style deflation is the fear of every person meaning the economy can’t be helped with a monetary stimulus.

QE2 is a gamble for the Fed to take

The People’s Voice reports that this is a risky move the Fed is taking to announce a monetary stimulus. Mortgage rates went down to record lows after the Fed bought $ 1 trillion in Fannie and Freddie securities as an attempt to help with the housing crisis. Getting rid of these securities was a concern Fed officials wondered publicly. Mortgage rates could be forced to go up because economic recovery isn’t getting better. Billions can be collected on this portfolio in principal and interest by the Fed. Using the cash to monetize debt is loaded with risk. The housing market could very well weaken further and foreclosures could rise. The Fed may have billion of dollars of credit losses on its portfolio when that happens.

Getting into a liquidity trap

The Fed’s latest monetary policy move makes sense on paper in a textbook economy. The demand, of course, is assumed to meet the supply, as outlined by Daniel Indiviglio. Interest rates are already very low, yet businesses continue to sit on cash because they aren’t confident that the demand will exist within the near-term to expand. Consumers are paying down their debt and saving for an uncertain economic future. These conditions are what economists refer to as a liquidity trap. No matter how low the Fed pushes interest rates, it won’t help economic recovery because nobody wants to borrow.

Discover more information on this subject

Reuters

reuters.com/article/idUSN1123481920100811

The Peoples Voice

thepeoplesvoice.org/TPV3/Voices.php/2010/08/11/monetizing

Atlantic

theatlantic.com/business/archive/2010/08/will-the-feds-new-monetary-stimulus-help/61327/

Linda McMahon gets the nod for Connecticut Senate race

The Connecticut Republican Primary has just concluded, and Linda McMahon is their candidate for the open seat from Connecticut in the US Senate. One of the two seats is open. Linda McMahon is indeed the wife of Vince McMahon Jr., and she is the former CEO of WWE Entertainment. She stepped down from her position within the company to run for the Senate seat that can be vacant soon, as Senator Chris Dodd is retiring as soon as his term runs out.

Can you smell what the Linda McMahon is cooking?

Linda McMahon’s campaign is getting attention because she is running without taking a dime from taxpayers, any Political Action Committees or from special interest groups or corporations. She’s already spent $ 22 million of her own money and is just fine with more having to be doled out by November, as outlined by ABC. She’s running against Dick Blumenthal, the Connecticut Attorney General since 1991 and previously a member of the Connecticut House of Representatives and Connecticut State Senate.

What platforms is she running on?

Linda McMahon is a classic neo-conservative. Fiscally conservative policies, with emphasis on deregulation and job creation, are large parts of her platform. She has come out in support of Obama’s strategy in Afghanistan, but is notably hawkish on Iran. She has broken with mainstream Republicans, having donated money to a pro-choice Republican PAC, though she’s also opposed to partial-birth abortion. She also is far more friendly to LGBT rights than the President is, as she has stated Don’t Ask Don’t Tell should go and also the marriage issue should be left to the states, as outlined by an interview with the Connecticut Mirror.

So what is the bottom line?

Another rich and famous person is running for office. Not that we haven’t seen that before, but she was the CEO of a company that became the only professional wrestling organization to be publicly traded and almost as popular as NASCAR. (Granted, the McMahons own most of the shares.) She has some policies that are very popular. The question then becomes what exactly are you going to do when Wrestle mania goes to Washington, brother?

Discover more details on this subject

ABC News

abcnews.com/george/2010/08/linda-mcmahon-i-will-spend-what-it-takes.html

CT Mirror

ctmirror.org/story/5215/mcmahons-investment-produces-its-first-returns

How to reprogram your engine computer

Your engine’s computer needs to be flashed, or reprogrammed after being erased, if you would like your engine control modules (ECM’s) to stay up to date all the time. Microprocessors within the power train and fuel injectors have to have this done if cars are older newer than 1996 since the system won’t work properly otherwise. Your engine does much better when the programming is up to date. Under hood Service explains that this costs between $ 80 and $ 120 at repair shops if you would like it done. If you have the right stuff and are able, you can flash your own car.

Engine computer reprogramming solution

If you want to reprogram your engine computer yourself then you need to be able to find the diagnostic port under the steering wheel inside the car which you’ll attach a special scanner to. The auto manufacturer will replace old software within the car with new programming. It used to be that it was necessary to remove parts in order to complete the reprogramming process, but now all that’s necessary is a computer with an Internet connection, a USB cable and a scanning device that can connect with a car’s diagnostic port. The manufacturer’s website has the new software on it which is flashed onto the ECM.

Flashing an ECM?

Auto repair shops say flashing should be done once each and every few years, and this may be appropriate. However, it is typically only something that needs to be addressed on a need-to basis, unless a sweeping pronouncement is issued by the manufacturer as part of a recall movement. It certainly isn’t really something a car owner should pay for as part of routine car maintenance.

DAY flashers have to do this

It is simple to do usually. See what software updates are on your car manufacturer’s website. Download the update into a flash programming device. Proper engine turning is a concern for some which may require more software. If you’d like to get some more info, then check places like DIYEFI.org. States like California that have tough emissions testing may have special laws outlawing some different aspects of engine programming, so make sure to check with your state’s motor automobile authority first.

New cars with fresh ECM programming start with auto loans with bad credit

Further reading

Underhood Services

underhoodservice.com/Article/39556/flash_reprogramming_vehicle_computers.aspx

Scotty Kilmer on reprogramming your car’s computer

youtube.com/watch?v=Mc0aMxSdat4

DIYEFI

diyefi.org/index.htm

Border security bill passes while senators are on vacation

The Senate passed a border security bill on Thursday. The session only had two Democrats in attendance, because the Senate is taking its August break. The bill’s $ 600 million price pays for more equipment and more agents to secure the U.S border with Mexico. Border states dealing with illegal immigration and drug trafficking are pressuring the federal government to take concrete steps toward border security.

Bill funds 1,500 border security jobs

The border security bill was passed in a special session convened by the Senate Thursday. The bill was passed via unanimous consent, a parliamentary procedure that does not require the entire Senate to be present during the vote. G.O.P. senators cooperated for a change. The Associated Press reports that 1,000 new Border Patrol agents, 250 more Immigration and Customs Enforcement agents, and 250 more Customs and Border Protection officers are among the border security jobs funded by the bill. It also funds new communications equipment and greater use of unmanned surveillance drones. The bill sends about $ 200 million to the Justice Department for funding its efforts with the FBI, DEA and ATF in the fight against drug dealers and human traffickers.

Bill penalizes law-abiding companies

The border security bill is election year theatre both parties both parties hope convince voters the Washington is capable of addressing border security in the wake of Arizona’s immigration law. The Los Angeles Times reports that the $ 600 million price tag of the border security bill will be paid for by substantially boosting fees on businesses that hire foreign workers using U.S visa programs. Immigration advocates have denounced the package as an election year stunt that will do little to address the complex problems of illegal immigration. Politicians say a broader debate on immigration reform that contains a route to citizenship for about 11 million illegal immigrants will be made possible when the border is secured.

Special session is a special occasion

The Senate convened during its summer vacation for only the second time since the August break was institutionalized in 1970, the Senate Historical Office said. The New York Times reported that Democrats Charles E. Schumer of New York and Benjamin L. Cardin of Maryland were the only lawmakers in attendance. The House and Senate had already passed the bill earlier within the week. But a re-vote was unavoidable after one of the Senate’s byzantine procedural rules was overlooked. After Hurricane Katrina in 2005 was the first and only other time the Senate has convened during summer recess.

Further reading on this topic

Associated Press

google.com/hostednews/ap

Los Angeles Times

latimes.com

New York Times

thecaucus.blogs.nytimes.com

IBM proclaimed it will purchase Unica Corporation for $ 480 million

Technology giant International Business Machines Corp. has announced it will obtain marketing software creator Unica Corp. for $ 480 million in an effort to offer customers effective tools to create more focused marketing strategies. IBM, who made the recent purchase of Web analytics vendor Coremetrics, is offering $ 21 a share to Unica holders. That’s more than twice Thursday’s closing value and, according to the Wall Street Journal, is at the highest level the stock has ever seen. Source of article – IBM to purchase Unica Corporation for $ 480 million by Personal Money Store.

IBM and Unica make good music

PC World reports that IBM’s goal is to supply advanced consumer assistance by generating a “consistent and relevant cross-channel brand experience to promote customer loyalty and satisfaction,” as outlined in a statement. And maintaining profit growth by shifting to higher-margin software business appears to be the main strategic focus of the business. Unica currently has about 500 employees, all of whom will be included in IBM’s software division, where the company believes that with the help of Unica’s powerful software, its business-analytics and consulting unit will grow stronger with exceptional advantages.

Unica Corporation — a growing business

Unica Corps. has been around for almost two decades and is a recognized leader in marketing software solutions. Based in Waltham, Mass., the business was founded in 1992 and now has several offices located in many parts of the nation and worldwide. It is one of England’s fastest growing technology businesses. A total revenue of $ 30.7 million was reported in its third quarter fiscal 2010, ending June 30, 2010. Compared to the 3rd quarter of fiscal 2009, that’s a 14 percent increase.

A seemingly promising movement

Unica has about 1,500 customers, which consists of major retailers like Best Buy, eBay and ING. However, once the acquisition is finalized, its customers will become IBM customers. Unica CEO Yuchun Lee said he believes the new movement will help IBM improve all types of companies, big and small. IBM officials are preparing to discuss the Unica acquisition in further detail during a conference call Friday. The deal will likely be closed in the fourth quarter of this year.

More info at this website

The Wall Street Journal

online.wsj.com/article/SB10001424052748703960004575427171092347124.html

PC World

pcworld.com/businesscenter/article/203224/ibm_buying_unica_for_480_million.html

Prop 8 stay was granted by a judge in California

After Judge Vaughn Walker overturned Proposition 8, the California initiative that banned gay marriage in the state, he issued a temporary hold on any new marriages taking place. He then made the decision today to extend the hold on same sex marriages. The ruling is probably going to appealed by those against Prop 8. Source of article – Prop 8 stay granted by California judge by Personal Money Store.

Judge stops Prop 8 from being eliminated

Judge Vaughn Walker anticipated that his overturn of Proposition 8 would be appealed. He thought it wise to let those for Prop 8 have a chance to defend themselves before letting same sex marriages start to take place. The Los Angeles Times reports that same sex marriages were stopped by Judge Walker on August 4 when waiting for a decision on how long to make that injunction. Today, he granted a further injunction until Aug. 18. If the defense from Perry v. Schwarzenegger don’t appeal to the Court of Appeals for the Ninth Circuit by Aug. 18, very same sex marriages will resume.

No rational basis

Judge Walker determined that Prop 8 had no realistic, that is to say legal, basis for denying same sex couples the right to “marry,” versus having “domestic partnerships” or “civil unions.” Loving v. Virginia and Griswold v. Connecticut all assumed the 14th amendment held up the right to marry whomever a person decides, which Prop 8 violates also he believes. He thought defenders should have time to appeal so after ruling on Prop 8, he stayed the ruling.

The future of the case

The Ninth Circuit is where California is within the Court of Appeals which is where Federal court decisions can be appealed. (That is the U.S.’s largest circuit) Once the decision is made within the Court of Appeals, then it could be appealed to the Supreme Court of the United States. Appellate courts can make the decision on whether or not they’d like to take the case. Whether or not to appeal can be decided by proponents in only six days.

Discover more info on this subject

LA Times

latimes.com/news/local/la-me-0813-gay-marriage-california-20100813,0,5087660.story

MSNBC

msnbcmedia.msn.com/i//MSNBC/Sections/NEWS/A_U.S.%20news/Life/gaymarriage.pdf

Who are these individuals Robert Gibbs is talking about?

In a recent interview, White House Press Secretary Robert Gibbs decried a shadowy group of people, known as the “professional left.” While this may cause some to miss the days of the highly quotable Dan Quayle, it seems a telling portrait of who the administration is looking to please.

Gibbs likes the office casual left

Press Secretary Robert Gibbs refers to liberals dissatisfied with the administration as the professional left. In an interview with The Hill, he said that this shadow cabal of malcontents would only be happy with a health care plan akin to Canada’s and when the Pentagon is done away with. He also said everyone exactly who compared Obama with George Bush should be “drug tested.” The White House Press Secretary also purported they wouldn’t be happy “even if Dennis Kucinich was President.”

Just who are these people?

Lots of liberals and progressives were less than thrilled that he ditched the public option and has done little on LGBT issues. The lack of action concerning Don’t Ask Do not Tell is one of the constant criticisms. Still, just who exactly the “professional left” is supposed to be, it isn’t clearly defined. The day the article ran, Gibbs was a noted omission from a White House press conference. Bill Burton, who filled in for Gibbs, says he was sick.

Not the most artful of phrases

Though the exact demographic Robert Gibbs was lampooning wasn’t entirely clear, what it was he objected to was clear. Elected officials will always be targets for criticism, because there is no way for them to please anyone.

More on this topic

The Hill

thehill.com/homenews/administration/113431-white-house-unloads-on-professional-left

World-wide threat seen in new drug-resistant superbug

The world could possibly be battling a new superbug virus, on behalf of Brits venturing to India for nip-and-tuck discounts who have brought home a deadly stowaway. A new superbug infection could spread worldwide after infecting plastic surgery individuals in south Asia who brought it home to Britain. The most powerful antibiotics accessible won’t stem infections born from a bacteria-jumping gene within the new superbug. While Big Pharma chases lucrative conditions like erectile dysfunction, experts say governments have to do something to encourage more investment in antibiotic research.

Drug-resistant superbug gene makes bacteria deadly

After travelling from Britain to India via medical tourism, a new superbug infection is threatening to spread all over the world. You will find few drugs strong enough to treat it, researchers said. Reuters reports that a newly found gene– New Delhi metallo-beta-lactamase, or NDM-1-has been found by researchers in individuals in both south Asia and the U.K. Bacteria are altered by the NDM-1 gene to become highly resistant to most antibiotics, including carbapenems-the most powerful class available. Drug experts say the research pipeline has no new antibiotics in progress to suppress it. Reuters said that Timothy Walsh, who led the study, fears that with international travel for cheap cosmetic surgery procedures increasing, the new superbug could soon spread to hospitals worldwide.

Superbug seeks to spread and diversify

In an article published online Wednesday within the journal Lancet Infectious Diseases, the researchers said the superbug gene was already circulating widely in India, where the health care system is much less likely to detect it or have adequate antibiotics to fight it. The Associated Press reports that after going to India or Pakistan for plastic surgery, 37 individuals in Britain with drug-resistant infections were diagnosed with the superbug gene. The superbug gene has also been detected by medical researchers in Australia, Canada, the United States of America, the Netherlands and Sweden . The superbug has “an alarming potential to spread and diversify,” because the gene is found on DNA structures called plasmids that are copied and easily between bacteria , the authors of the Lancet article said.

Big Pharma chasing cash, not superbugs

Superbugs don’t peak the pharmaceutical industry’s interest. New antibiotics aren’t marketable long enough to make sufficient profits because bacteria evolve so quickly . The Wall Street Journal reports that some pharmaceutical businesses are looking for government subsidies to ensure they get an adequate return on investment to shareholders for addressing a world-wide health threat. Pharmaceutical companies also blame strict research and development demands from official regulators that cut into potential profits. However, Pfizer and Merck within the Americas, Novartis in Switzerland and GlaxoSmithKline and AstraZeneca in the U.K are engaged in antibiotic research .

Further reading

Reuters

reuters.com/article/idUSTRE67A0YU20100811

Associated Press

google.com/hostednews/ap/article/ALeqM5gpFQ3Bz7hIFhSsHlYpROVwTVwwoAD9HHAI6G0

Wall Street Journal

online.wsj.com/article/BT-CO-20100811-710190.html

Federal judge takes Wells Fargo overdraft fee guidelines to task

A lawsuit in California concerning Wells Fargo and its practices concerning overdraft fees finished recently. Wells Fargo was ruled to have unfairly charged individuals with overdraft fees, and Judge William Alsup ordered the financial institution to repay them. The judge held that the bank had purposely structured their overdraft policies to extricate profit from their customers. Numerous contend that an individual is better off getting a money advance than relying on overdraft protection.

Wells Fargo ordered by judge to pay $ 230 million

Wells Fargo was ordered by Federal Judge William Alsup to pay customers back for overdraft fees to the tune of $ 230 million, according to Forbes. Depending on the amount of the overdraft, a single overdraft fee can carry an APR far higher than a cash advance. One of the practices in question is clearing the largest charges first, which can exacerbate an overdraft of only a couple of dollars, resulting in a charge of $ 35 per occurrence.

Wells Fargo took a lot to the bank

Wells Fargo did not make consumers aware they could opt out of overdraft protection or decline transactions that would put them in overdraft. The judge also highlighted documents showing that the financial institution put covert lines of credit in place for checking accounts, making it hard for transactions to not clear and thus guaranteeing that an overdraft fee would result. The judge also cited that internal communications from Wells Fargo proved the motive was explicitly to profit from overdraft fees. The financial institution generated $ 1.4 billion from 2005 to 2007 in California alone. An individual is almost better off if they get a personal bank loan to float them between salaries.

Overhaul of Overdraft

There are new rules in place concerning overdraft practices, and other credit from banks such as credit cards. The Federal Reserve, as outlined by CNN Cash, has instituted a rule that mandates banks notify clients of the option to not take overdraft protection. Banks make about $ 38 billion each and every year from overdraft fee income.

Additional reading at these sites

forbes.com/davidrandall/2010/08/11/how-wells-fargo-cheated-its-customers/?boxes=Homepagechannels

money.cnn.com/2010/05/21/news/economy/consumer_protection/index.htm

There's a possibility of a double dip recession

Some economists watch for one of the most good signs, and others search for probably the most negative signs. Recent data from the economy indicates a double dip recession, where the economy starts to improve after a fall, then plunges again before settling, is more probable than previously thought. The forecast for doom and gloom is not native to only Wall Street as economists in Europe are starting to think it will happen there also, and the second tumble will even be global.

Moody’s warns of possible second slide

Moody’s, the credit rating agency, has put the chances of a second dip at 25 percent, up from their previous estimates of 20 percent, in a report by Moody’s Analytics. They have forecasted real estate prices in a double dip recession will fall one more 20 percent, as outlined by the Wall Street Journal. The business believes that the real estate market will stabilize sometime in 2012. The economy will even shrink a further 5 percent, as outlined by Moody’s.

Federal Reserve doesn’t see rainbows either

The Federal Reserve isn’t really calling for the bubbly to be broken out yet either. As outlined by CNN Money, the Federal Reserve announced after a meeting on Tuesday, August 10, the economy was not recovering as fast as had been hoped and it will take longer than previously estimated for things to return to peak output. The Fed did not address the possibility of a double dip recession, but did announce it would keep the federal funds rate at or near 0 percent and purchase further Treasury securities.

Slower world recovery

The recession will continue to be global. Europe may also feel the effects of a double dip recession. The trade deficit is widening, meaning American industries are exporting and selling fewer goods. That is less cash from foreign markets coming in. The trade deficits along with a troubled housing market do not make great bedfellows for economic recovery.

More on this topic

Wall Street Journal

blogs.wsj.com/developments/2010/08/11/moodys-odds-of-a-double-dip-increasing-prices-could-fall-20/

CNN

money.cnn.com/2010/08/10/news/economy/fed_decision/index.htm

Student loan debt bursting making it higher than even credit card debt

Credit card debt has fallen behind student loans when it comes to the number one debt. While people are paying down their credit card balances within the aftermath of the financial crisis, college costs continue to rise. Because student loans don’t have as much consumer protection, they have been picked up by more people. Numerous think that colleges have been raising the costs of tuition making it almost not worth it to get student loans. A bachelor’s degree isn’t really even needed for the fields growing the fastest right now. Source for this article – Student loan debt exceeds credit card debt as college costs rise by Personal Money Store.

Students get more loans with college costs increasing

Americans owe about $ 826.5 billion in revolving credit, as outlined by June 2010 figures from the Federal Reserve. FinAid.org compiled reports shown on the Wall Street Journal to show student loans totals to be at $ 829,785 billion. Student debt has gone up $ 300 billion in just the last four years, reports the Journal in an interview with Mark Kantrowitz who’s the publisher of FinAid.org and FastWeb.com. With college costs increasing rapidly and the duration of unemployment increasing, numerous parents borrow to make up the main difference.

Student loans don’t have the consumer protection they need

Student loan debt can be more dangerous than credit card debt. Student loans nevertheless stay with a person, even through a bankruptcy. Missing payments with student loan repayment can mean some terrible penalties. Student Loan Justice reports that consumer protections like statutes of limitations, truth in lending laws, state usury laws and fair debt collection statutes don’t come with student loans as they do with credit cards. As outlined by the exact same group, student loans are “an inherently predatory lending system that succeeds when the students fail.”

College costs enough to drain family finances

Student loan debt is rising along with college costs. 2009-2010’s average tuition prices for private colleges and in state tuition state colleges were $ 35,636 and $ 15,213, reports Bank Investment Consultant. A rise of 5 percent has happened each and every year. There are announcements from top institutions claiming they are raising their charges this year to be over $ 50,000. This is too much for families trying to use all of their savings and spend income as well to pay for school.

Bachelor’s degrees beginning to become worthless

Rising student loan debt leads some to wonder whether going in hock for years to get a degree is worth it. As outlined by the New York Times, despite six years of trying, only half of all students beginning a bachelor’s degree in 2006 will graduate by 2012. Only seven of the 30 jobs that are intended to grow fastest in the next ten years even need a bachelor’s degree, reports the Bureau of Labor Statistics. There are also 10 of the top growing job categories, 2 of which need degrees. 15 percent of all mail carriers have bachelor degrees as shown in a 1999 federal study discussed within the Times by Richard K. Vedder who is the founder of the Center for College Affordability. He said:

“Some of them could have purchased a house for what they spent on their education.”

More on this topic

Wall Street Journal

blogs.wsj.com/economics/2010/08/09/student-loan-debt-surpasses-credit-cards/

Bank Investment Consultant

bankinvestmentconsultant.com/bic_issues/2010_8/college-cost-gone-wild-2668047-1.html?zkPrintable=1 and amp;nopagination=1

New York Times

nytimes.com/2010/05/16/weekinreview/16steinberg.html

Build your own Pop-Tarts, with or without the store

Times Square saw the huge fanfare around opening the Pop Tart store, called Pop-Tarts World, just this week. A Pop-Tart vending machine, Pop-Tarts café, and Pop-Tarts build-your-own counter are all featured. There is no word yet if the shop can be permanent, since the Times Square rent is $ 1,000 per square foot. Article source – Pop Tart Store- Building your own Pop-Tarts by Personal Money Store.

What the Pop-Tarts store features

The cuisine offered up at Pop-Tarts World is a little taste of anything. At the Pop-Tarts store, you are able to get Pop-Tarts celery, Pop-Tarts cinnamon rolls, and even Pop-Tarts sandwiches. A vending machine lets you create your own 12 pack of Pop-Tarts flavors, for $ 1 per pastry. Finally, the build-your-own Pop-Tarts bar lets you create just about any Pop-Tarts topping and flavor that you can think of.

Pop-Tarts store meant for brand visibility

The Pop-Tarts business decided to open up the Times Square store to show its “brand maturity”. The breakfast bar pastry has seen relatively flat sales for the last few years. In 2009, Kellogg sold $ 481 million worth of Pop-Tarts.

Making your own Pop-Tarts

If you’re not anywhere near the Pop-Tarts store in Times Square, that doesn’t mean you’ve to go without customized Pop-Tarts. It is healthier and cheaper to make Pop-Tarts at home. You are able to avoid the high fructose corn syrup and make your own for about 20 cents per Pop-Tart. In a food processor or bowl, combine 2 cups of flour with 1 tablespoon sugar and 1 teaspoon salt. Mix in 1 cup butter, 1 egg, and 2 tablespoons milk. Roll out the dough and cut it in Pop-Tart sized rectangles. On half of the rectangles, spread anything from chocolate to jam. Use the other half of the dough to top off the filling, and seal it by pressing a fork around the edges. Refrigerate the dough when you pre-heat the oven to 350, and then bake for 20 to 25 minutes.

Ford board votes to start back pay for Bill Ford

The auto bailout may have prevented the “too large to fail” corporations from imploding financially, but that does not mean that their financials are on Easy Street. The Ford Motor Company has fared reasonably well, but the five-year pay freeze chairman Bill Ford voted on himself no doubt helped. He said he’d take no salary beginning in 2005, and this would continue until Ford Motors started to turn a more consistent profit. According to Automotive News, the pay freeze has now been lifted. Bill Ford will receive back salary dating to 2008.

Bill Ford will collected $ 4.2 million from his company

Ford made $ 4.8 billion on automotive sales over the past 12 months, which made their decision to reinstate Bill Ford’s salary much easier. Bill Ford’s $ 4.2 million deferred dates back to 2008. The compensation will consist of opportunities (some of which are at the moment exercisable) and restricted stock.

Ford was CEO from 2001 to 2006

Bill Ford moved to the board room in 2006, opening the way for Alan Mulally to take over as CEO. Both men agreed to a 30 percent salary cut in 2009 and 2010. Bill Ford sold personal holdings in company stock for a $ 1 million scholarship fund he created in 2005 for the kids of company employees.

Bill Ford also sold $ 28 million in company stock in his efforts to help Ford Motors. Bill Ford’s stock sales did not affect the Ford family’s overall holdings of “Class B voting shares,” which according to Automotive News give the family “a 40 percent voting interest within the company”. In total, Bill Ford holds approximately 6.5 million common and Class B shares within the Ford Motor Company.

Additional reading

Automotive News

autonews.com/apps/pbcs.dll/article?AID=/20100806/OEM02/100809870/1254

BP gets many claims from the oil spill causing $ 3 billion to be put within the fund

The $ 20 billion BP oil spill fund was made accessible Monday when BP and the Justice Department finished all their negotiations. $ 3 billion within the fund go directly towards oil spill within the Gulf of Mexico 2010 victims. Obama and BP had a meeting on June 16 which is when BP decided the fund needed to be set up. So far, BP said its oil spill costs have totaled $ 6.1 billion, including $ 319 million paid out in BP oil spill claims. Claims have still been filed by another 100,000 people waiting for an answer. Lawyers do not know how to work with the fund.

Better than expected is the BP oil spill fund schedule

BP said it would make the original deposit into the BP oil spill fund by the end of September. By October 1, Robert Dudley will replace Tony Hayward, and he said to Bloomberg the company is showing a commitment to “making it right within the gulf” by staying ahead of schedule. Obama explained with this announcement in June that everyone who feels wronged may sue the company on their own, and BP has to take care of economic damage and cleanup costs still. BP agreed to pay $ 5 billion into the oil spill fund in each of the next four years. Within the fourth quarter of each year, $ 2 billion more will need to be paid with a BP deposit of $ 1.25 billion per quarter until having reached $ 20 billion.

BP getting stopped when fulfilling claims

BP checks will be cashed at any of the 160 branches of the New Orleans-based Whitney National Bank on the coast for free. A BP oil claims facility, according to eh appointed administrator of the fund, Kenneth Feinberg, can be open by the end of this month.

145,000 oil spill claims were filed and on record by August 7. It has paid 103,900 claims worth $ 319 million. According to NPR, residents expect BP to keep them alive economically from the Gulf of Mexico oil spill 2010. But more than 100,000 individuals are nevertheless waiting to hear about their claims. Many say they’re getting the runaround from the BP claims process. Many companies are just waiting for Feinberg to get into his position so the fund can be under his control instead.

Can’t determine how to use BP oil spill fund

Although every person knows about the BP oil spill fund, hardly anyone knows how to access it. As outlined by the Legal Broadcast Network (LBN), no clients or lawyers can figure out how to become a part of the BP oil spill fund. Lawyers don’t know how to get the oil claim payments or how to stop the tax hit. Legal fees on the checks being handed out aren’t tax deductible. The people running the fund haven’t answered any of these questions says LBN.

Further reading

Bloomberg

bloomberg.com/news/2010-08-09/bp-20-billion-oil-spill-compensation-fund-agreement-completed-with-u-s-.html

NPR

npr.org/templates/story/story.php?storyId=129074745

Legal Broadcast Network

thelegalbroadcastnetwork.squarespace.com/the-lbn-blog/2010/8/9/the-bp-oil-spill-compensation-fund-what-is-next-ken-feinberg.html

Maxine Waters joins ranks of Charlie Rangel for ethics violations

In the last few weeks, Representative Charlie Rangel (D-NY) has been famously stung for ethics violations. His misconduct earned him a Congressional reprimand. Just recently, Representative Maxine Waters (D-CA) has also been indicted by Congress for conflicts of interests. She has asked for a fast procedure, to clear her name as soon as possible. Source of article – First Charlie Rangel and now Maxine Waters by Newystype.com.

Hot water for Waters with conflict of interest charges

Charges of ethics violations are brought by the House against 10 term Representative Maxine Waters (D-CA). The charges were announced over a week ago. According to USA Today, she allegedly arranged for special favors for OneUnited Financial institution, an online financial institution which her husband owns stock in. The bank received $ 12 million in bailout funding. Among the charges are that she arranged for the bank’s representatives to be present at a meeting with Treasury Department officials to get bailout cash. Allegedly, she never informed her chief of staff to keep away from potential conflicts of interest. Moore, coincidentally, is her grandson.

Rangel reprimanded

After being indicted for 13 counts of ethics violations, Representative Charlie Rangel received only a reprimand. The New York Times reports the charges involved improper soliciting for donations, and falsifying income tax returns by not reporting large portions of income and assets. The investigation has been ongoing for two years. The House and Senate have procedures for censuring or expelling members, but it isn’t used often. The last member of the House expelled was James Trafficant, and there hasn’t been a House censure since 1983. Censures within the Senate are rare as well, as only four have taken place since 1950, one of which was Thomas Dodd, father of current Senator Chris Dodd.

Becoming unacceptable

Representative Ann Kirkpatrick (D-AZ), was quoted as saying that if Rangel was guilty, he should resign. She also stated that members of Congress needed to hold themselves to higher standards, including the law applies to elected officials just as much as to citizens.

Discover more information on this subject

nytimes.com/2010/07/31/nyregion/31rangel.html?_r=1 and scp=8 and sq= and st=nyt

content.usatoday.com/communities/onpolitics/post/2010/08/maxine-water-ethics-charge/1

20 percent of homeowners have underwater mortgages

A recent investigation suggests that just more than 20 percent of American homeowners are underwater on their mortgage loans. That means that one in five individuals who own their homes would be no better off with mortgage loan modification, even if they could get it. The number of underwater mortgage loans is slowly decreasing though. However, some areas are worse off than others, as large metropolitan areas are still experiencing greater numbers of foreclosures.

One fifth of all homes underwater

Just over 20 percent of people have homes that are worth less than they still owe to them, according to CNN Money. However, the 21.5 percent who are currently underwater is down from 23.3 percent from the previous quarter, which means some homes gained more than a payday loans worth. That means the amount of national negative equity is decreasing. That said, one in five individuals still probably won’t get offered mortgage loan modification, as it would do them no good. Less equity means less likelihood of debt relief, and some can be better off if they get a personal bank loan and get out of their toxic mortgage.

As values climb so do foreclosures

Real estate values are starting to climb in some areas. Though the price was at bottom but improving, one can never expect to finance a house with a money advance. Large urban areas saw one of the most improvement. However, the number of foreclosures increased for 75 percent of all major cities despite home values creeping up. Las Vegas, Nev., is nevertheless the worst city in America for real estate. Sin City has 14 percent unemployment, and almost three quarters of homes there have underwater mortgages. One in 15 homes there are in foreclosure.

The economy wants to one day have even modest recovery

The improvements are almost negligible. Unemployment is down a little, and maybe a few individuals aren’t as bad off as they used to be. What recovery has taken place is doing so at a very slow pace.

Additional reading

CNN

money.cnn.com/2010/08/09/real_estate/fewer_underwater_borrowers/index.htm

money.cnn.com/2010/07/29/real_estate/new_face_of_foreclosure/index.htm

Old troubles with Civics, Elements and Accords spark a Honda recall

Over 1.4 million Honda cars are recalled already over a shift interlock problem. The exact same problem has led to the 2010 Honda recall. This Honda recall covers 2003 Accords, 2003 Civics and some 2003 and 2004 Elements.

The shift interlock issue behind the Honda recall

The shift interlock system is the basis of this 2010 Honda recall. If the shifter is not in park, the shift interlock is intended to keep the key from being removed. If this system malfunctions, the automobile can roll away. 17 separate accidents are attributed to this malfunction. These issues tend to happen when the key is removed before the shifter is in park. When left like this, automobiles will roll out of parking spaces, sometimes into traffic or other dangerous situations.

Honda recall because of NHTSA investigation

This current Honda recall for shift interlock problems was instigated by an investigation by the National Highway Traffic Safety Administration. In late 2009, the NHTSA upgraded their investigation from “recall query” to “engineering analysis” – a more serious rating. Honda recalls are also being investigated for their “timeliness”. If the NHTSA finds that Honda has not responded “promptly, truthfully, and completely” to problems that are worthy of a recall, they could very well be facing civil fines. There is also an ongoing investigation, related to the expanded 2009 recall over air bag deployment.

Cars that are incorporated within the 2010 Honda recall

The full list of recalled Honda vehicles will be released in September of 2010. There can be about 197,000 Honda Accords, 117,000 Civics, and 69,000 Elements incorporated in this recall. This same issue has caused two previous recalls that integrated the 1998-2002 Accord, 1999 Odyssey, 1999-2000 Acura TL, 1997-99 Acura CL, and 1997-2001 Prelude. If you receive official notification of the recall from Honda, you are intended to take your car in to a Honda dealer. Owners are asked to call 1-800-999-1009 or visit recalls.honda.com to get more data about the recall.

Social Security is getting less secure

Pundits and forecasters of doom and gloom are saying Social Security is going to run entirely out of cash for a while. This year is going to be a mark in favor of that viewpoint. The Social Security Administration is going to spend more than it takes in. This is not the very first time Social Security has run in the red, either. The 1980s saw similar trouble with the SSA. There is a trust fund that Social Security puts the additional money into, which is how they’ll cover the loss.

Income far exceeds Social Security

This year, according to the Los Angeles Times, the Social Security Administration will spend more than it will earn. The board of trustees for Social Security and Medicare have reported, as of August 5, the tax income could be less than their due to fork out out by the end of 2010. After the new health care reform bill passed, Medicare was expected to stay solvent until 2029. Medicare had previously been estimated to lapse into critical condition by 2017. More incentives and regulations are expected to stave off Medicare’s impending demise.

Social Security is a trust fund baby

There is a trust fund that Social Security has just in case. Anything left over after expenditures gets put in the trust fund. Any shortfalls that occur are covered by the trust fund. That’s why it was created. According to the New York Times, the Social Security Trust Fund is not in danger of running out until 2037. The Social Security Administration will still be able to make 75 percent of its payments if the numbers are accurate, according to the Social Security commissioner Michael Astrue.

Who’ll be Peter with so numerous Paul’s?

Tax revenues are how Social Security is funded. If less cash is being earned by people working, less cash is accessible for the program. More cash has to be paid out as individuals live longer and longer lives. This particular Social Security shortfall won’t affect people’s benefits, but the next one might.

Additional reading

nytimes.com/2010/08/06/us/politics/06benefits.html

latimes.com/news/nationworld/nation/wire/sc-dc-0806-social-security-20100805,0,6306255.story

Anti-taxation could drown America in tea

The American individuals are sleeping at the switch when it comes to understanding the role taxation plays in creating the necessary income for basic community services. That’s what Paul Krugman writes in the New York Times, and it may be that such worries are falling on largely deaf ears in America. Tax revenue could keep individuals safer and educate them, but the anti-taxation movement maintains strong resistance. Cutbacks run deep, and not enough tea partiers seem to acknowledge that tax dollars could change those fortunes.

Governments wonder, ‘Where’s the taxation’?

Theories differ regarding taxation, but it appears clear that they’re a proven device for earnings generation. Krugman sees how the government issues bonds at 1.04 percent but then turns around and claims they cannot help support local governments in trouble. Thus, they should be doing more to aid local governments. The sense of priority is in effect warped, says Krugman. Where are the rich who paid more in taxes during the Clinton era – an economically prosperous era, hiding as small town America burns to the ground.

Cutting out services and casting jobs to the wind

Families are reeling as state and local governments are pulling more important services off the table. Couple that with a slow in federal spending and Krugman warns that America is stuck in reverse. An employed teacher serves the community and creates a definite job. But you will find no guarantees when it comes to tax cuts for the rich; they may possibly spend it or hide it away.

Burning government in effigy

There is a definite belief that the public section cannot manage cash to spite itself. Tea party rhetoric says that taxation is wrong because it contributes to waste and fraud. Krugman suggests it was never as bad as the right made it seem. Thinking about how far America has fallen in education and infrastructure when fear of new taxation has reigned, maybe taxation shouldn’t are the focus of the fear. The result of tax fear and decaying programs, writes Krugman, is that America is in a dark place, indeed.

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New York Times

nytimes.com/2010/08/09/opinion/09krugman.html?_r=1 and amp;partner=rssnyt and amp;emc=rss