Financial institution robberies prompted by Hollywood film

Two geared up robbers dressed as nuns jumped a teller counter in an Ill. financial institution last Sunday. The thieves made off with an undisclosed quantity of cash. The robbery was shockingly similar to last year’s critically acclaimed Ben Affleck film, “The Town.”

Shots not fired during escape

”The Town” style burglary was most recently at the TCF bank. This financial institution is in Palos Heights, Ill. The two thieves, one male and one female, wore rubber masks and traditional nuns’ habits. They were both geared up. They had handguns to them. They stuffed a duffel bag with cash while at the financial institution and before leaving. They left in a Chevrolet with tinted windows. No shots were fired and nobody was hurt.

Looks like Ben Affleck’s movie

There is a town in Boston where armed criminals regularly come from. That is what occurs in Ben Affleck’s “The Town.” Affleck does what he is intended to as the male. He doesn’t like it very much though. In the movie, the burglary uses nun masks and habits also. This is just like Illinois’ burglary. Although no confirmation exists, it is apparent that the robbers might have been inspired by the movie.

Not the first thievery prompted by ‘The Town’

The Affleck movie was imitated before. There were three men wearing Halloween masks in Financial institution of The United States in Delray Beach, Fla., robbing the financial institution on January 4, including 29 year old Lee Lubin, 27 year old Eddie Solomon, and 28 year old Kay Daughin. As robbers stole $67,000 in cash, the bank consumers had to lie on their backs. They fled in a waiting Cadillac, followed by law enforcement and news helicopters. Local Television stations followed and covered them really well. All three men were apprehended within a few hours.

Lubin even said that watching “The Town” gave the men the idea for the burglary.

Articles cited

Pop Eater

popeater.com/2011/06/02/ben-affleck-the-town-chicago-bank-robbery/

Mail OnlineM

dailymail.co.uk/news/article-1344758/Three-men-dress-Halloween-masks-rob-bank-Florida-inspired-Ben-Affleck-film-The-Town.html

WPBF

wpbf.com/news/26381238/detail.html

‘The Town’ trailer

youtube.com/watch?v=QQ7wcayQQLQ

Not seeing Phil Ivey in the World Series of Poker competition he is definitely anticipated in

Big time pro poker gambler Phil Ivey is definitely boycotting the WSOP at the moment, claims Big Lead Sports. According to Ivey’s allegation in the courtroom, his and WSPO partner Full Tilt Poker has yet to give back online poker player money long after the United States government shut down online poker houses. The case claims that over $150 million in consumer funds is still in Full Tilt parent business Tiltware, LLC’s possession.

What Full Tilt did make Ivey feel ‘deeply disappointed’

On his Facebook page, Phil Ivey argued that Full Tilt’s actions aren’t only embarrassing, however they create economic hardship for experienced poker players who now cannot participate in buy-in tournaments to further their reputation.

“I am not playing in the world Series of Poker, as I do not believe it is fair that I compete when others cannot,” writes Ivey. “I am doing everything I can to seek a solution to the problem as quickly as possible.”

Needing to get Phil Ivey’s reputation back

Ivey thinks that his reputation has been damaged in the past few months since he has been closely associated with Full Tilt and the company hasn’t done anything. Ivey had to think of something he could do. He is going decided to sue Full Tilt Poker’s founder, Tiltware, LLC. Ivey made a Facebook statement about the team that said:

“I sincerely hope this statement will ignite those capable of resolving the problems into instant action… I will dedicate the entirety of my time and efforts to finding a solution for those who have been wronged by the painfully slow process of repayment.”

Full Tilt’s company accounts do not exist

A major allegation Ivey levies against Tiltware is definitely that Full Tilt Poker did not maintain a financial institution reserve account through which money could quickly be refunded to players. Just like banks invest money deposited into them, online poker sites invest the money deposited into them. Full Tilt does this as well, states International Business Times.

This is definitely something federal regulators know and have laws about. Individual banks and online gambling sites have to follow these reserve laws. It appears that Full Tilt is definitely either unwilling or unable to refund all the consumer money at once. Putting your money into one of these websites could be a dangerous thing to do. This is definitely because the gambling websites don’t generally have the FDIC insurance banks do and would never get a tax bailout. The government would have to open the nation’s wallet for players to get their money back.

Information from

Big Lead Sports

thebiglead.com/index.php/2011/06/01/phil-ivey-is-boycotting-the-world-series-of-poker/

Casino Scam Report

bit.ly/loVhfI

International Business Times

bit.ly/mR3mMV

Wall Street Journal

online.wsj.com/article/SB10001424052748704628404576265060852516194.html

Unfastened nuts in power steering results in Toyota Prius recall

An error in the power steering system has resulted in a Toyota Prius recall that pertains to every Prius made until 2003, including the first to be made on the assembly line. Nuts that secure the power steering system can come loose over time. The cars’ steering can become almost unmanageable if unchecked.

First Prius ever made affected in recall

MSNBC states that Toyota Motor Company issued a recall for the Toyota Prius Hybrid because of some troubles with the power steering system. In the past couple of years, Toyota has dealt with a ton of different recalls. The recall effects every Prius made from 1997 to 2003. In just Japan, there are 48,000 automobiles being affected. These were all made from 1997 to 2003. Automobiles from 2001 to 2003 are impacted in the rest of the world. That is because Prius didn’t sell the automobiles worldwide until 2001. Without counting Japan, there are 58,000 vehicles impacted. They’re all from those model years. About 1,800 of those cars are in the UK, 52,000 in the United States and 800 in Germany. There will be a total of about 106,000 cars recalled. That’s lots of vehicles that need fixing.

All Prius automobiles will be fixed for free

According to AutoWeek, there are low-quality nuts in the power steering structure. This has caused the Prius recall. The steering and left turns can be very hard to do if the nuts get loose with wear that secure the pinion shaft to the steering gear box. This loosening occurs whenever the wheel is turned many times to the full lock position, reports MotorTrend. This is likely to take place over the lifetime of a vehicle though. About four hours are needed for new nuts that won’t loosen to be installed. It will be done for free in all Prius cars. There has been only one accident, according to USA Today, and it was minor. In August 2007 in Japan, the first complaint was made. There were 28 more complaints in Japan and one in the U.S. This brought on the issue to be dealt with.

Toyota to get back on track

Toyota has announced that it expects to be returning to full production capacity soon. Toyota’s production facilities in Japan, along with other Japanese auto manufacturers, were severely affected as a result of the earthquake and tsunami that devastated Japan earlier this year. Toyota plans to recuperate faster than at first though. This is after the March 11 catastrophe occurred. Toyota’s operations in Japan are anticipated to return to 90 percent pre-earthquake capacity nearly instantly. Global operations in Thailand, China and Europe are expected to be at 100 percent capacity this month. Toyota is jumping on this recall as early as possible. The car maker has been publicly rocked by the massive Toyota recalls in the last two years that resulted in more than 14 million cars being recalled.

http://www.youtube.com/watch?v=Su5V4I2kwQI

Information from

MSNBC

msnbc.msn.com/id/43235940/ns/business-autos/

Auto Week

autoweek.com/article/20110601/CARNEWS/110609999

MotorTrend

wot.motortrend.com/toyota-recalls-2001-2003-prius-steering-defect-82679.html

USA Today

content.usatoday.com/communities/driveon/post/2011/06/toyota-recalls-52000-prius-models-in-us-after-report-of-single-accident-/1?loc=interstitialskip

Mayor in Portland thinks city staff deserves sex change insurance coverage

If you are a Portland, Ore., community employee and are considering sex change operation, Mayor Sam Adams is in your corner, reports Portland Online. Adams has proposed regulation that would persuade community health insurance to cover the high price of the treatment for transgender employees. The Portland City Council is expected to vote on Adams’ proposition as early as June.

Adams states ‘Fair, common sense’

Mayor Adams told The Oregonian newspaper that the transgender operation bill amounts to “fair, common sense.” If the legislation makes its way into law, it would override the previous year’s area committee decision to veto gender change surgery coverage out of Portland’s self-insurance fund. The denial ended up happening. This was as the community didn’t decide entirely to change area policy like this.

According to Adams’ estimates, transgender surgery benefits for Portland city employees would cost around $32,000 per year. The estimated increase to the city’s self-insurance plan spending budget would be approximately .08 percent.

The ‘medically necessary’ things are covered

The American Medical Association made a decision in 2008. It decided that transgender health care is “medically important.” It is not allowed to withhold coverage for a treatment of gender identity disorder if a doctor prescribes it, with the AMA resolution.

“As Mayor, it is important to me that we attract and retain the best and brightest employees to the City of Portland,” writes Adams in a press statement. “Covering basic, medically-necessary care is a matter of fairness, and it’s the right thing to do.”

Choosing an insurance

Currently, the City of Portland provides two health insurance choices to its employees: insurance through Kaiser or a self-insurance plan called CityCore. Adams’ suggestion would make Portland much more like the companies in Oregon surrounding it and like 22 percent of Fortune 100 Companies. This is because CityCore would cover gender change surgery.

It all started in San Francisco

In 2001, San Francisco became the first United States city to offer transgender operation benefits. Sex change operations and hormone treatments were available to community employees after a bill was passed by the San Francisco Board of Supervisors and then-Mayor Willie Brown.

At that time, male-to-female operation cost $37,000, while the reverse cost $77,000. City employees had to pay 15 percent if the surgeon was on the area health plan with the San Francisco ordinance. The fees capped at $50,000 per person for life though.

Watch the video of the same-sex marriage rally with Portland Mayor Sam Adams

http://www.youtube.com/watch?v=2BMPgHIrjKA

Articles cited

Basic Rights Oregon

basicrights.org/

OregonLive.com

blog.oregonlive.com/portlandcityhall/2011/05/mayor_sam_adams_to_push_sex-ch.html

Portland Online

portlandonline.com/mayor/?a=350579&c=49278

SF Gate

sfgate.com/cgi-bin/article.cgi?f=/c/a/2001/02/16/MN202072.DTL

Arlington Cemetery Memorial Day protest of Westboro Baptists protested by the KKK

A sorrowful Memorial Day 2011 at Arlington National Cemetery in Virginia was disrupted by an unlikely pairing of counter-protesters, states CNN. Just a couple hours before President Obama was to lead nationwide observances at the Tomb of the Unknowns, participants in the Westboro Baptist Church and Ku Klux Klan exchanged words of conflict and caution. No incidents of violence or arrests were reported.

KKK object to Westboro anti-gay protests

The Westboro Baptist Church of Topeka, Kan., has stolen national attention with its angry demonstrations against the homosexual community and the United States military’s supposed connection. Under the direction of Pastor Fred Phelps and his daughter Abigail, church members parade outside military funerals, sporting anti-gay signs that condemn the souls of dead soldiers to hell.

A group of 10 individuals at Arlington in representation of the Knights of the Southern Cross, or Soldiers of the Ku Klux Klan, do not like the Baptists though. A group of Ku Klux Klan members gathered near the Westboro Baptists and tried to drown them out with American flags and a banner that read "POW-MIA" for all who could see it.

According to Imperial Wizard Dennis LaBonte, who was present at the demonstration, the KKK was assembled to protest Fred Phelps’ anti-troop message.

“It’s the soldier that fought and died and gave them that right to free speech,” said LaBonte.

No Caucasian power in scripture

CNN spoke with Abigail Phelps who said that since there is no reference to white power in the Bible, the Westboro Baptists recognize no authority in the KKK. Those for the KKK for instance LaBonte say that they are just taking care of the Caucasian race rather than being racist. Meanwhile, the Westboro Baptists cling to their war against homosexuality and the United States military complex (illustrated by hateful slogans like "God hates fags" and "Thank God for dead soldiers").

The price of freedom

There was a United States Supreme Court ruling that allowed the Westboro Baptists to protest at military funerals with First Amendment protections. They do have to stay a distance away though. The Ku Klux Klan has the same rules to follow. So long as physical violence or direct violations of the law are not involved, such organizations can protest as often as they like.

Articles cited

Arlington National Cemetery

arlingtoncemetery.mil/

CNN

cnn.com/2011/US/05/30/arlington.cemetery.protesters/index.html

New York Daily News

nydn.us/mK3Aku

Getting ahead with car headlights

Few drivers take the time to consider anything about their headlights than whether they turn on. The story and technology behind them is interesting. If you know how your headlights accomplish the task, you’ll be able to maintain them more effectively and perhaps keep away from that moose or angry drifter in the road.

In the beginning

Either kerosene or acetylene was used over a century ago for headlamps. Small electric bulbs in a reflector/lens casing were then used after that. The lights would dim quickly from corrosion since insulation in old bulbs was a problem. Another problem with these lights -before the corrosion took its toll – was their intensity resembled constant high beams that blinded oncoming traffic, so the U.S. government made them illegal in 1941.

Other choices for light

Standard household light bulbs seemed to be comparable to Tungsten filament bulbs. Then there were high and low beam lights. These showed up in the 1920s. Brightness and overall beam control were inconsistent, which is not surprising, considering the bulbs were cheaply made. Quartz-iodine technology exchanged sealed-beam lights by 1973.

The next move

The standard headlight used today is the Quartz-Iodine (QI). The bulb is pretty much tiny. It is better protected too with the sealing materials we have today. The filament burns much hotter producing brighter light. This is because quartz glass can withstand very hot temperatures. When a QI bulb is changed, headlamps do not need re-aiming to happen. Modern filaments make this possible.

Trying out HD bulbs

High-intensity-discharge bulbs (HIDs) ditch the tungsten filament in exchange for a high-voltage arc that resembles a miniature lightning run. Getting on the HID light takes just a little bit far more energy. Keeping it on is much less energy than a QI though. Most observers claim an HID produces a crisper beam, but because they take a moment to reach full intensity, high-beams on HIDs could be problematic, particularly in emergency situations. For this reason, some modify HID arrays with QI bulbs for the high beams, but this can be prohibitively expensive.

Bulbs that shine like crazy

Taillights already use LED (light-emitting diode) lights, but they aren’t standard for headlamps yet. Popular Mechanics states that there is only one automobile where they’re standard. That is the Audi A8. Light in weight, vibration-resistant, bright and power-efficient, LEDs light up faster than a standard QI bulb, providing quicker warning that could be seen at greater distance.

If you don’t own an Audi A8 and want to experience LED car headlights now, there are DIY opportunities available, for instance the one described at the Instructables website. Keep in mind that because LEDs use so little power, conventional turn signal switches are not compatible. In order to get the right current going, you’ll need to switch them out.

Citations

Instructables

instructables.com/id/DIY-LED-car-headlights!/

Popular Mechanics

popularmechanics.com/cars/how-to/maintenance/how-your-headlights-work

An inside look at LED headlights

youtube.com/watch?v=wSkQ4h-sFiY

Since the cost of gas has been increasing a ton, automobile buying habits among Americans have modified accordingly. {However, American customers are not purchasing as several green vehicles for instance hybrids and electric cars as they’re compact and subcompact vehicles that sip the gas tank|That said, individuals are not buying more hybrids or electrics. Instead of green automobiles, people have been buying smaller compact and subcompact automobiles that sip daintily from the tank|Compact and subcompact automobilesare still much more popular than green cars, as individuals still want traditional cars that only sip from the tank| Subcompact and compact veh! icles are still more popular than green automobiles like electrics or hybrids, as traditional automobiles that sip lightly from the tank are selling much better than greener but more expensive and less useful options|Small

Sunday, May 29, 2011

Los Angeles Dodgers attempting to avoid the Brian Stow suit

The family of Brian Stow, the man who was beaten into a coma while he was at a baseball game a short while ago, is suing the Los Angeles Dodgers. Stow, a Giants fan, went to the opening game at Dodgers stadium against the Giants, and was nearly beaten to death by Dodgers fans in the parking lot. Only one man has been arrested for the incident.

L.A. police’s recent arrest

The Los Angeles Times reports that an arrest in the Brian Stow beating case was recently made by the LA Police Department. Giovanni Ramirez, 31, was arrested by the LAPD on suspicion of being one of the two assailants that beat Brian Stow, who has remained in critical condition since he was attacked March 31. Two men were observed verbally taunting Stow until one blindsided him, evidently for the audacity of wearing a Giants jersey. He was kicked repeatedly after falling to the ground. Even after he became unconscious, the men still beat him. Ramirez has three prior felony convictions and is a known gang member. He is being charged, because he killed a victim to near death, with assault with a deadly weapon.

Dodgers face lawsuit

The Dodgers organization is being sued by the Stow family, reports ESPN. This is being done because there was not enough security. The Stow family attorney claims that the Dodgers are responsible for making sure the stadium is safe and has enough security. It obviously was not so. Right away after the incident, the Dodgers began hiring more security personnel, including previous LAPD officials to oversee security details. Other Dodgers supporters have been drunk and unruly in the past. Some say these “problem fans” are gang members that like to view the game. Ramirez was identified by his parole officer, who noticed he bore a resemblance to a sketch of one of the two assailants. The other man remains at large. Since then, Stow has been improving. He can open his eyes and move both his arms and legs, CNN reports.

Sports enthusiasts were violent in the past too

There is a long history of violence among sports enthusiasts. In 531 A.D., the Nika riots happened in Constantinople because of chariot racing for a week, states Wikipedia. Before the army killed the rioters, there were 10,000 deaths and half the city was burned down. For a while now, Europe has seen lots of violence with soccer. It is a common occurrence. Enthusiasts rioted at the end of April in Greece, according to Fox News, at the conclusion of the Greek professional soccer championship. Polish soccer enthusiasts rioted on May 3 after the end of the Polish Cup Final match, according to the Daily Mail, and had to be subdued by riot law enforcement after invading the field, setting the stadium on fire and assaulting players.

Information from

Los Angeles Times

latimes.com/news/local/la-me-dodgers-20110523,0,2773021.story

ESPN

sports.espn.go.com/los-angeles/mlb/news/story?id=6584013&campaign=rss&source=MLBHeadlines

CNN

articles.cnn.com/2011-05-19/justice/california.fan.beaten_1_billboard-campaign-brutal-attack-parking-lot?_s=PM:CRIME

Nika Riots

en.wikipedia.org/wiki/Nika_riots

Fox News

foxnews.com/sports/2011/05/02/aek-fan-club-torched-2-days-cup-final-riots/

Daily Mail

dailymail.co.uk/news/article-1383480/Concerns-hooliganism-Poland-football-cup-final-ends-mass-riot.html

Dangerous to get personal loans and go to for-profit school

Private, for-profit schools aren’t all created equal, and scholars should be persistent about any they might be considering. There have been numerous clashes between for-profit schools and the authorities, and profit driven school attendees have the highest loan default rates after graduating. Scholars should do their research before attending, though several for-profit schools are perfectly fine.

Donald Trump seeing Indictment in the future as a possibility

CNN reports the New York Lawyer General is investigating five companies that were for-profit universities. One of the schools involved is the former Trump University, the small for-profit school launched by Donald Trump several years back. After the New York Department of Education said that this was not a real school, it was renamed the Trump Entrepreneur Initiative. There are four other schools involved, reports the New York Times. They contain Bridgepoint Education, Lincoln Educational Services, the Career Education Corporation and Corinthian Colleges. Charges have not yet been filed. They are all being investigated still.

Dispute being worked out

State governments and the federal government are beginning to come down on for-profit universities, and some previous students aren’t thrilled. Right now, Donald Trump is being sued by some students in California. They say they were misled by what is now Trump Entrepreneur Initiative. The investigation of Corinthian’s colleges consist of those found in many states. These states contain Florida, Georgia, Massachusetts and California. The Massachusetts Attorney General, according to the Boston Globe, is also investigating Apollo Group, the company that runs the University of Phoenix, also as the Kaplan Career Institute, which is operated by the Washington Post Company. The corporate parts of smaller private colleges are also typically not very stable. For instance, Alpine College in Spokane, Wash., recently closed its doors permanently in the middle of a term, leaving scholars holding the bag for thousands in unsecured loans and no degree to show for it.

Affording it is hard to do

Students have difficulty deciding which school to go to. Typically, cost is an essential thing to consider. Most for-profit universities are costly. They can cost more than they are worth. Reuters states that 15.2 percent of students who went to a for-profit college defaulted on student loans within a year in 2009, which is twice the 7.3 percent of students who defaulted after going to a public college. A default rate of 4.3 percent was shown for private, non-for-profit schools. Also, for-profit college scholars make up half of loan defaults. That’s a pretty high rate. It has been too hard for scholars to meet loan responsibilities after going to for-profit universities. Individuals have accused for-profit universities of not preparing scholars well enough. A new rule is being considered by the Department of Education. This wouldn’t allow schools with scholars that have a 35 percent or higher default rate to get federal loans for students.

Citations

CNN

money.cnn.com/2011/05/20/news/companies/trump_university/index.htm

New York Times

nytimes.com/2011/05/20/nyregion/trumps-for-profit-school-said-to-be-under-investigation.html?pagewanted=1&_r=1&ref=education

Reuters

reuters.com/article/2011/05/20/education-forprofit-idUSN2028820820110520

Reuters

reuters.com/article/2011/05/20/us-education-idUSTRE74J55O20110520

MSNBC

msnbc.msn.com/id/43130397″>MSNBC

Boston Globe

http://articles.boston.com/2011-05-17/business/29552871_1_college-access-success-college-students-schools”

Consumers trust banks much less than bankers know or believe

It’s hard to encourage the average U.S. taxpayer that banks that are “too big to fail” deserve their trust. The outcomes are easy to see in recent customer confidence polls, suggests Bankrate. Polls like the biannual Index of Bank Sentiment by consulting firm BAI & Finacle asked consumers “Do you trust your bank?” and customers replied with a resounding “No.” Bankers surveyed in that same poll seemed oblivious to the truth, as they trusted that consumers trust them.

Consumer and banker opinions divided

There was an Index of Bank Sentiment survey done. Over 2,500 U.S. banking consumers were surveyed in it. A huge divide, not difference of opinion, was shown with the gap between consumers who trusted their bank (77 points) and banks that assume they’re trusted (121 points), according to results. One hundred points on either side would look good. This would show reasonable confidence.

Some financial experts believe that the rise of non-traditional consumer credit products like payday loans supports the findings of the BAI & Finacle survey. It makes sense that a customer may be more interested in small loans at other financial institutions if they answer “Do you trust your bank” with no.

Trust not needed by banks

The Index of Bank Sentiment survey showed that 63 percent of respondents felt their banks were not trustworthy. Still, 64 percent said that a “good image and reputation” was still shown with their bank. Forty percent felt their bank was not looking out for their best interests.

About 85 percent of respondents did not think financial institution fees should be required for a checking account at all. A mere 44 percent found current bank fees to be reasonable.

Current Fortune 500 list banks

While community banks and credit unions have become increasingly popular with customers, large commercial banks still reign supreme when it comes to capturing consumer business. There were 20 commercial banks on the recently released Fortune 500 list of top United States businesses while the top 100 had seven commercial banks. When it came to the commercial banks, Bank of America Corp., was first while being ninth on the Fortune 500 list. The top five included 13th J.P. Morgan Chase & Co., 14th Citigroup, 23rd Wells Fargo and 54th Goldman Sachs Group.

How other financial service businesses do with U.S. customers

Investment brokers and pay day loan corporations both are in the world of financial service corporations. This is outside of the banks. There is the Edelman Trust in United States Financial Services Survey on top of the BAI & Finacle survey. It showed that about half of customers trusted their financial service business less than they did in 2009 last year. About 20 percent of respondents said that they thought this was because financial services industry was responsible for the recession while 46 percent thought that it was because of corporate greed.

Articles cited

Bankrate.com

bankrate.com/financing/banking/do-you-trust-your-bank/

Shared Financial Success

sharedfinancialsuccess.com/fortune-500-who-should-you-trust-with-your-money/

Author Ramit Sethi on ways banks nickel and dime you

youtube.com/watch?v=b1wQYXYbxDs

Coffee could help prostate cancer

Drinking coffee may help to ward off prostate cancer, so guys who drink lots of it can rejoice for there may be health benefits. Men who drink six cups of coffee a day or more were found to have the lowest rates of prostate cancer, according to a new research.

Keep on drinking that caffeine

Guys who are addicted to caffeine might be excited to hear the good news, states MSNBC. The Harvard School of Public Health just released a new research on it. It is great for health to drink a ton of coffee even though there may be some down sides. This was shown as the chance of getting prostate cancer was much lower with a male who drank coffee a lot. From 1986 to 2008, 48,000 guys were followed including their coffee habits. This was how the research was done, CBS states. The number of guys with prostate cancer was lowest among those with six or more cups.

Old research contradicted

There was a research done in the Harvard School of Public Health 30 years ago. It was contrary of what this study said in its conclusions. The study was flawed though. The research methodology was questionable. Patients who had cancer reported coffee details better in the study from years back since patients were asked about coffee habits. This is known as “recall bias.” It makes it so early results are contaminated. In the research that has just been released, guys who drank six cups of coffee per day or more had 60 percent less of a chance of getting prostate cancer and a 20 percent less chance of developing the deadliest forms of the disease. Anyone who drank 3 or less cups a day had 30 percent less chance. The caffeine made no difference to the research.

Findings unknown

WebMD states the reason why there might be this effect isn’t known although there are theories with antioxidants. Dietary antioxidants have been credited with myriad benefits over the years, including a lower risk of heart disease and cancer. Other studies have shown that drinking coffee can decrease risks for Parkinson’s disease, gout and Type 2 diabetes. The most common cancer in men is prostate cancer. One in six men is impacted by in in America. Annually, over 30,000 prostate cancer deaths occur. This is the U.S. rate.

Articles cited

MSNBC

msnbc.msn.com/id/43065205/ns/health-cancer/

CBS

cbsnews.com/8301-504763_162-20063692-10391704.html?tag=cbsnewsSectionContent.9

WebMD

webmd.com/prostate-cancer/news/20110517/coffee-may-lower-prostate-cancer-risk

Wisconsin State may make title lending legal again

Last year, Wisconsin became the final state in the union to regulate payday and title lending. The original bill could have prohibited banning vehicle title lending, but the governor vetoed that item to get rid of title lending. Now, a joint committee is taking action to end the ban on title lending, which would de-regulate the industry.

Regulation on payday loans in Wisconsin

Currently in Wisconsin State, short-term loans secured by an auto title are not legal. The selective vetoing of the 2010 legislation banned loans of this type. In Wisconsin State, the borrower’s monthly income must be much more than the cash advance. The loan can only be up to 35 percent of this monthly income. No extra interest can be charged when the loan is due, even with late payments. There are 529 short-term lender locations in Wisconsin. They lent out $600.5 million in 2009.

Changes wanted by Wisconsin Republicans

Righter payday loan regulation is something the U.S. Senate President wants. Mike Ellis, the president, is a Republican. Despite his surprise at the recommendation of the Joint Finance Committee, Ellis agrees that the recommendations should be debated on the merits, instead of as a knee-jerk response. Last year the governor vetoed so several times that it shaped the bill, which co-chairman Rep. Robin Vos commented on. He said, “You can make a case that it was done wrongly the first time. We’re correcting his error and actually adding some better provisions in.”

Not getting the same service with payday lending and title lending

Short-term financial solutions usually contain more than check cashing and payday lending. Typically title lending is also integrated in it. These financial products all cater to the under banked community, however they each do so differently. Payday loans are short-term loans intended to be paid back in two to four weeks. Collateral such as a vehicle is at risk with title lending since it offers high loan amounts. Check-cashing services charge a fee for cashing checks for consumers. All of these are different services. They need separate regulation.

Information from

WTAQ

wtaq.com/news/articles/2011/may/13/jfc-approves-measures-including-auto-title-loans/

JS Online

jsonline.com/news/statepolitics/121731299.html

After scandal, Dominique Strauss-Kahn cannot get bail

The head of the International Monetary Fund, Dominique Strauss-Kahn, has been denied bail when arraigned on sexual attack charges. He allegedly tried to rape a maid in his hotel room, and was arrested and booked before he left on a flight to France. He is being kept at Riker’s Island for the moment.

Sexual charges for financer to face

The IMF head was brought into a NYC courtroom on Monday, May 16 and arraigned on charges of sexual assault and false imprisonment, states the Guardian. This will be one of the highest profile sex scandals in years to come out. He was accused of sexually assaulting a main in the Times Square hotel he was staying at, the Sofitel, which is why Dominique Straus-Kahn was detained Saturday for false imprisonment and sexual attack. According to Reuters, he was boarding a plan for France when he was detained. Monday he went before a judge. The attorneys that were prosecuting said he would be a flight risk. They said that if he had gone to France, the country would not have extradited him. He was denied bail and is now being held at Riker’s Island Correctional Facility.

International Monetary Fund continues operations

Regardless of the head of the organization’s imprisonment, the International Monetary Fund is still carrying on, according to the Los Angeles Times. Kahn missed a meeting with several finance ministers in Europe in Brussels because he was in arraignment. This meeting discussed the chance of a joint bailout package for the Portugal debt crisis between the European Union and IMF. There is still a Greece debt crisis. The topic of sending more aid was to be discussed as well. The headline “the chambermaid blocks Greece!” was shown in an Athens newspaper while the austerity measures in the country that were forced already have been bad for Strauss-Kahn. During all of this, Strauss-Kahn is stuck in The Tombs holding cells waiting for his next hearing. He is near the Riker’s Island Courthouse.

Reaction to scandal

Current president Nikolas Sarkozy was designed to have Strauss-Kahn as competition in the coming election as he is a significant figure in the Socialist party in France. It is possible that Francois Hollande or Marine Aubry will replace him. The Telegraph reports that his job at IMF is up for grabs. Many individuals are ready to take the position too. Even though current P.M. David Cameron won’t endorse previous English prime minister Gordon Brown, he really wants the job. Axel Weber as a former finance minister of Germany is a possibility for the job. Christine Lagarde is also in the running as the current France finance minister.

Information from

The Telegraph

telegraph.co.uk/finance/dominique-strauss-kahn/8517119/Christine-Lagarde-and-Axel-Weber-front-runners-for-Dominique-Strauss-Kahns-IMF-role.html

Los Angeles Times

latimesblogs.latimes.com/washington/2011/05/ron-paul-imf-dominique-strauss-kahn.html

Reuters

reuters.com/article/2011/05/16/us-strausskahn-arrest-idUSTRE74D29F20110516

Los Angeles Times

latimes.com/news/nationworld/world/la-fg-euro-talks-20110517,0,2339845.story

The Guardian

guardian.co.uk/world/2011/may/17/dominique-strauss-kahn-court-appearance

The Guardian

guardian.co.uk/world/2011/may/15/strauss-kahn-arrest-hits-french-elections

Launch of Consumer Financial Protection Bureau marred by bills to cut powers

In July, a new federal agency is going to launch. That Consumer Financial Protection Bureau has been in the planning stages for years. Regardless of strong consumer support, three new House bills are attempting to weaken the CFPB. None of these bills have become law yet. All three, however, have been approved for House debate.

Consumer Financial Protection Bureau status

The Dodd-Frank Act started the CFPB to “promote fairness and transparency for mortgages, charge cards and other consumer financial products and services.” July, 2011 is when the bureau will start. There still is not Consumer Financial Protection Bureau director that has been added, regardless of the deadline. Without a director, the CFPB will continue to run. It will be under the direction of the Security of Treasury.

Which bills would affect the Consumer Financial Protection Bureau

In the United States House of Representatives, three separate bills to weaken the CFPB have been introduced. HR 1121, called the Responsible Consumer Financial Protection Regulations Act of 2011, would replace the director of the Consumer Financial Protection Bureau with a five-member commission. HR 1315, called the Consumer Financial Protection Safety and Soundness Act, would give the Financial Stability Oversight Council of the Department of Treasury the right to overturn any rules made by the Consumer Financial Protection Bureau. The last bill is HR 1667, or the Bureau of Customer Financial Protection Transfer Clarification Act. It would make it extremely hard for the agency to start without a director. These three bills have been approved by the Financial Services Committee and will be debated in the House.

All the Consumer Financial Protection Bureau has to do

Though the duties and responsibilities of the CFPB may change, there are several things the Bureau will likely remain responsible for. Financial products will be monitored, with consideration of consumer protection, by the Consumer Financial Protection Bureau first. Second, existing federal financial laws would be enforced with the assistance of the Consumer Financial Protection Bureau. Customers will be able to get information from the Bureau too.

Articles cited

Treasury.gov

treasury.gov/initiatives/Pages/FSOC-index.aspx

WalletPop

walletpop.com/2011/05/12/5-things-the-consumer-financial-protection-bureau-will-do-for-yo/

House.gov

house.gov/

Mississippi river crests as most detrimental is finished for Memphis

The American southeast is being battered by the Mississippi river, which has been enlarged and flooding for several weeks. Memphis, Tenn., has been inundated with heavy flooding, but the river has crested near the Music City, signifying the most severe is over. Flooding should begin to subside, however other areas farther down the river are still at great risk.

Tennessee landmarks just fine

There are finished 1,000 homeless people now. Still, nothing in Tennessee that was considered a landmark was hurt. BBC states that Music City’s Beale Street district wasn’t hurt by floodwaters at all. Elvis Presley’s home in his life until he passed away in 1977, Graceland, was not touched once by the Mississippi. Even if people had to “charge hell with a water pistol,” they would keep Graceland safe. This is what a Shelby County Emergency Management Agency official explained. Flash floods in the Memphis area are a significant concern, reports CBS. About 1,300 homes were evacuated because of this fear. Normal water will take a while to get. It may be a while before every little thing goes back to normal.

Flooding after storms are finished

After the snowfall near record on the East Coast of the U.S., the Mississippi river has gotten very high. Memphis’ floodwaters were just 10 inches lower than the 1937 record hitting 48 feet. Memphis’ worst danger is nearing an end. Still, other Mississippi river cities need to be cautious. There have been problems with the flood in the rest of the Mississippi river system and river delta. Still, precautions are still being taken. MSNBC reports the Army Corps of Engineers opened the Bonnet Carre Spillway recently to help relieve New Orleans’ levees pressure. There are already floodwaters flowing through the delta. Still, there are measures being taken in preparation.

Terrible flooding

A flood in 1927 killed hundreds of individuals and cost millions to fix. The Christian Science Monitor reports the flood levels aren’t that bad. There is more than 2,000 miles of levees that were constructed by the U.S. Army Corps of Engineers in response to the 1927 floods. The water always has to go somewhere though. That means that the Mississippi water has to flood somewhere else when the spillways are opened. Floods in Arkansas farmland is anticipated while the water gets closer to the Gulf of Mexico. In fact, 900,000 acres of farmland are anticipated to flood.

Information from

BBC

bbc.co.uk/news/world-us-canada-13337548

MSNBC

msnbc.msn.com/id/42973616/ns/us_news-environment/

CBS

cbsnews.com/stories/2011/05/09/travel/main20061138.shtml

Christian Science Monitor

csmonitor.com/USA/2011/0509/Mississippi-River-nears-crest-in-Memphis-but-concern-shifts-south

May 21, 2011, has been penciled in for Rapture

Predictions of when doomsday and apocalypse will come to Earth are old hat for religious beliefs by now. May 21, 2011, will reportedly be the day of the Rapture. WFMY 2 News in Greensboro, N.C., states that billboards are heralding the grand day of judgment.

Suggesting that ‘The Bible guarantees it’

Harold Camping, a Family Radio network founder in Oakland, California, put on billboards to “Cry mightily unto God,” since May 21, 2011 is going to be Judgment Day. The over 150 Family Radio affiliates are going to broadcast the program from 8:30 to 10 p.m. on May 21.

Camping believes May 21, 2011, will be the Rapture, when true Christians are gathered together in the heavens to meet with Jesus Christ. Five months later on October 21, 2011, Camping believes God will destroy the Earth and the universe entirely. In Sept, 1994, these same events were forecasted by Camping.

Hard to figure out when Doomsday will appear

Camping is not unlike the many before him who predicted the end of the world. They have all used the Bible to figure it out. Doomsday is decided based on the fact that seven days is equal to seven millennia where mathematical calculations are needed. Camping used the Hebrew calendar to determine when 7,000 years from the day God told Noah judgment would be is. He decided it was May 21, 2011.

“The Bible has given us absolute proof that the year 2011 is the end of the world during the Day of Judgment, which will come on the last day of the Day of Judgment,” says Camping on FamilyRadio.com.

Four memorable end of the world prediction failures, Caucasian blend

For your end of the world pleasure, here are four of many notable apocalypse reservations that were broken:

The 1806 The Prophet Hen of Leeds

Allegedly, there was a hen that laid eggs saying “Christ is coming” in 1906 in the English town of Leeds. This was proven false when viewing the egg laying process.

Followers of April 23, 1843 called the Millerites

End of the world was expected in a one year span by New England farmer William Miller. He thought someplace between March 21, 1843 and 1844 would be when the ending of the world came. His followers, the Millerites, helped him figure out an exact date. This is how April 23, 1843 came about. Many followers sold their worldly possessions for naught. Some did go on to found the Seventh Day Adventists, however.

In 1910 the Halley’s Comet would hit

Astronomers in 1881 determined that Earth would pass through the cyanogens-laden tail of Halley’s comet in 1910. Stories about mass extinction via poison gas made the front page of the New York Times, but by 1910, scientists knew better.

Heaven’s Gate, 1997

There was a mass suicide with the Heaven’s Gate cult. There were 39 members that perished. The appearance of the Hale-Bopp comet in 1997 was interpreted as the coming of an alien spaceship. Paradise would only be accessible to those who left their bodies behind. This is how Heaven’s Gate leader Marshall Applewhite persuaded all the fatalities.

Information from

FamilyRadio.com

familyradio.com/index2.html

LiveScience

livescience.com/7926-10-failed-doomsday-predictions.html

WFMY News 2

bit.ly/ksDgPL

Wikipedia entry for Harold Camping

en.wikipedia.org/wiki/Harold_Camping

Doomsday and apocalypse (Beware: Contains scripture)

youtube.com/watch?v=djH4NZo78Rw

BP oil spill fund has paid just a fraction of the cash

The U.S. government ordered BP to set aside a $20 billion oil spill fund in the wake of the Deepwater Horizon catastrophe. A year later, the Gulf Coast Claims Facility, meant for nursing companies and individuals impacted by Gulf oil leak back to economic health, has paid out only a fraction of the cash. Claimants waiting for payment describe a time consuming, convoluted process that has been made more complicated by a horde of attorneys seeking to profit from the BP oil spill fund.

The entire BP oil leak claims to process

About 19 percent of the $20 billion BP set aside for the oil leak claims was paid in the BP oil spill claims with $3.8 billion paid in total by the Gulf Coast Claims Facility a year after the Gulf of Mexico accident in 2010. Kenneth Feinberg said that 201,261 claims were paid as the Obama administration appointed person to distribute the BP oil spill fund. There have been over 857,000 claims already. In five states there are 35 offices for the Gulf Coast Claims Facility. The BP oil leak claims will be paid by it until 2013, in August. Feinberg has been criticized by Gulf residents and local government officials for a claims process that has been called confusing, unfair and slow.

Damage proof

In a statement issued Tuesday defending his administration of the BP oil spill fund, Feinberg said “Amounts requested by claimants very often bear no reasonable relationship to the damages really proven,” noting that one applicant tried to claim all $20 billion. About 72 percent of the claims from the BP oil spill have had payments or offers made. Claims were denied also. Not all could be accepted. Documentation is necessary for some pending claims. The BP oil claims process has frustrated businesspeople for instance fishermen accustomed to operating on an informal cash basis who often seal deals with a handshake instead of a contract. In 574 cases disputed by claimants who believed payment was too low or rejection was unfair, the Coast Guard, charged with arbitrating disputes, hasn’t overturned a single one.

Getting the money is all that matters

Tens of thousands of Gulf Coast residents — particularly vulnerable populations with language and culture disadvantages such as the region’s large contingent of Vietnamese fishermen — have been misled into signing up with lawyers or have been unaware that claims have been filed in their name. Feinberg spoke on the fraudulent activity. He said it was “an obstacle to the efficiency and speed in getting the checks out.” According to the New York Times, there are some groups targeted more than others. One of these includes the Vietnamese fisherman. When BP settles, attorneys end up with more cash for how many clients are on the list. There were thousands of Vietnamese listed on a San Antonio law firm’s list according to the New York Times. There was not an acceptance with the claims. Individuals were surprised when they realized they were on the list for a claim.

Citations

CNN Money

money.cnn.com/2011/04/18/news/companies/BP _spill_claims/?npt=NP1

24/7 Wall Street

247wallst.com/2011/04/19/the-BP -20-billion-gulf-claims-facility-has-paid-nearly-nothing/

Los Angeles Times

latimes.com/news/nationworld/nation/la-na-gulf-spill-claims-20110419,0,2595018.story

New York Times

nytimes.com/2011/04/19/us/19spill.html?_r=1

Tax day - Nearly half of Americans owe nothing

April 18 is a date that lives in infamy for many people as it is Tax Day, the day when income tax returns are as a result of Internal Revenue Service. Despite the resentment towards income taxes, the legal obligation nevertheless exists. Almost 50 percent of income tax filers won’t owe the government a dime.

Little over half of Americans pay taxes on income

Tax Day 2011 falls on April 18 instead of April 15. Bloomberg reports that about 45 percent of households won’t have to pay any 2010 taxes at all. The Earned Income Credit and Making Work Pay Credit are examples of exemptions and deductions that are common in the low-income households. Those who pay no income taxes are very low income or living on a fixed income for instance Social Security or disability income. Also, hardly any taxes are paid by people who make little and have kids. The average tax refund, according to CNN, was $3,003 last year.

Those making money do not pay as much

The tax burden for the wealthiest working class individuals, according to Daily Finance, has been falling for a while. From 1992 to 2007, there was a decrease in the amount of income being paid by the 400 highest paid income tax returns. It went down from 26 percent to 17 percent on average. Though the wealthiest 10 percent account for more than half the nation’s tax revenue by dollar amount and the wealthiest 5 percent account for 44 percent, the more lucrative tax breaks, such as for charitable contributions, are available to the rich. In the United States tax code, there are over $1 trillion in tax breaks. That means $8,000 to every tax payer could possibly be given as a refund. The Internal Revenue Service will not let you take it though. You’ve to “deserve” this. There is more of a chance for charges from the IRS. USA Today reports that this will be to keep everyone in line.

Developed countries typically pay more in taxes than Americans

MSNBC states that Americans really pay way less in taxes than the rest of the developed world does even though many in the U.S. like to protest or avoid taxes. The Organization for Economic Co-operation and Development, or OECD, maintains data on taxes in the developed world. According to the OECD, income tax in the United States generally averages 24 percent. In Danes, it is 48 percent; in France it is 42 percent; in Germany it is 37 percent; and in Australia it is 27 percent.

Information from

Bloomberg

bloomberg.com/news/2011-04-18/nonpayers-complicate-republican-effort-at-overhaul-of-u-s-tax-code.html

CNN

money.cnn.com/2011/01/14/pf/taxes/tax_refund/index.htm

Daily Finance

dailyfinance.com/2011/04/18/super-rich-see-federal-taxes-drop-dramatically/

USA Today

usatoday.com/money/perfi/taxes/2011-04-17-Prosecutions-of-tax-evaders-up.htm

MSNBC

msnbc.msn.com/id/42612937/ns/business-tax_tactics

Children most typical sufferers of identity theft

Child identity theft is becoming all the rage. New research shows that identity thieves are focusing increasingly on children because parents do not pay attention and the theft can go undetected for years.

All about child identity theft

Thousands of children and their families are being victimized by identity theft and thousands more are at risk, according to a report by Carnegie Mellon University’s CyLab cybersecurity research center. The report examined the identity protection scans of 42,232 kids conducted in 2009-10 by the Debix AllClear ID Protection Network after parents were notified their children’s IDs may have been compromised. There were 4,311 children, a little over 10 percent, which had identity thieves steal Social Security numbers according to Debix AllClear ID data. Obviously there is problem when there is a 0.2 percent rate of United States adults that have their identity stolen which is 51 times lower than the child rate according to the Debix AllClear ID 663 attacks out of 347,362 adults. There was a five month old that had her identity stolen. There were 42 open accounts in Arizona that a 17 year old girl found out she had. In all of these charge cards, vehicle loans and ! mortgages, she owed $725,000 in debt. There were eight individuals that had her Social Security number. There was a mortgage foreclosure that a 14-year old boy had from 10 years earlier on his credit rating in Kentucky.

It is friendly fraud with kids

After child identity theft started in the early 1980s, it has come even farther. The Social Security Administration got orders from the Internal Revenue Service. It said that children should be given Social Security numbers to go with them. Most children become identity theft victims at the hands of parents, family members or close friends who have access to their Social Security numbers. According to Javelin Strategy and Research, “friendly fraud” made up 30 percent of child identity theft cases last year. Identity thieves are able to take out loans, create accounts and even get credit cards since age is not verified in credit checks. The Identity Theft Resource Center helped a young man trying to work on his credit. Evidently his father had, years ago, stolen his identity and damaged his credit beyond repair.

Figuring out child identity theft

According to the Identity Theft Resource Center, every child should be taught out identity theft. They ought to know sharing information on the Internet isn’t always safe. Make sure you have a secure place where you keep Social Security numbers, birth certificates and other personal information. You may have mail that came in a child’s name. This could possibly be a concern that credit was opened for the child. In case you are a parent, gets a-hold of the major credit agencies. Get a credit rating for the child. If no credit score exists, the child is likely in the clear. There needs to be a security alert filed with Equifax, TransUnion and Experian if there’s a credit score. File a police report using the credit reports as evidence. The fraudulent account listed in a police report will require credit states to take them off of the report. It will only take 30 days max to get this to occur.

Citations

Forbes

blogs.forbes.com/moneybuilder/2011/03/31/protecting-your-child-from-identity-theft/

Atlanta Journal Constitution

ajc.com/news/child-identity-theft-increases-572552.html

Wallet Pop

walletpop.com/2011/04/05/report-as-child-id-theft-grows-rapidly-consider-these-precauti/

Investing fundamentals for the unconfident investor

Investing is all about making money. Day traders may savor the adrenaline rush, however profit is the reason. The right approach needs just a couple basic guidelines. It also pays to know how not to invest.

Starting your retirement

Starting a 401(k) plan is advised by experts as early as possible. Your retirement money will not be taxed if it sits in an account and yet at the same time will earn interest, capital gains and dividends. Let it sit for a while and gain interest for retirement.

A 401(k) isn’t really an investment. It is more of an account that saves money and builds interest at different rates.

Conserve during the calm before the storm

In addition to a retirement account, it is essential to establish savings. Online resources like Motley Fool or any worthwhile financial adviser can help you determine how much you need to realistically be saving.

Roth and Traditional IRA accounts should be maxed out

A Roth IRA retirement account gives you the flexibility to make contributions after taxes, so taxes are paid only upon withdrawal. If you max out as much as possible, you’ll grow a decent savings account for retirement. Those who do not qualify for a Roth IRA can still use traditional IRA accounts with more flexibility than several other accounts.

Expanding beyond the retirement account

Things like opening brokerage accounts and buying stocks could build a nice nest egg also. Prior to investing, have a clear picture of what you are trying to achieve. Make sure you are aware of what you would like to gain, the rate of return, the amount of the investment, and any other possibilities that are available to you.

Pay off harmful debt

Probably the most detrimental debt to a person is charge card debt due to their rates of interest. Make sure you pay all your credit card debt off before you even start to try and invest in stocks.

Sitting around isn’t an investment

Motley Fool points out that, stock market is unpredictable, but t if you venture nothing, you’ll gain nothing. Compound interest only matters if you have something to have interest in. If you invest in stocks and stop paying attention, you are asking the market to swallow your money. Follow your stocks and move on if and when the time is right. Remember your financial goals and don’t go too far outside your comfort zone unless you are prepared for possible loss.

There is no quick cheap way to go, especially with in and out

Trading in and out of the market isn’t just risky, it comes with a lot of trading fees also. So be careful when you set things up with your brokerage firm. Long term investors are stuck with an empty pocket, even if this might work out once in a while for day traders. Money market funds and CDs are the way Motley Fool advises to go for those looking for the shorter investment possibilities.

Information from

About.com

beginnersinvest.about.com/od/investing101/a/how-to-start-investing.htm

Motley Fool

fool.com/investing/beginning/why-should-i-invest.aspx?source=iibedihpo0000001

From socks to stocks

youtu.be/50PBUcwfe-w

March retail sales increase comes with several investor caveats

March retail sales increased to surprise most economists. Poor performance was foretold due to adverse weather, rising gas prices and an unusually late Easter. The slight gain in retail sales may have been the result of an improving labor market and inflation. Article source – March retail sales increase comes with many investor caveats by MoneyBlogNewz.

Monthly retail revenue being measured

A Thomas Reuters survey of 25 chains throughout the nation showed that last month there was a 1.7 percent year-over-year increase in retail revenue. The numbers are depending on retail sales reported at stores open at least since last March. This can be a good measure for the metric, or "same-store revenue." This is because stores aren't opening and closing changing sales. But experts doubt whether the March increase is a solid trend in consumer demand. The consumer spending is expected to be impacted by grocery and gas prices that are increasing. Monthly sales figures are only reported by 10 percent of retailers too. It can be easier to determine how the consumer economy is when bigger businesses start to post quarterly sales. This will include businesses for instance Home Depot, Best Buy and Wal-Mart.

The importance of Easter buying

An increase in March retail revenue was anticipated. The Easter holiday was why this was anticipated. This is the latest Easter in quite a while as it falls on April 24. This year, more people will shop in April for Easter. March was when it happened last year though. The fluctuating nature of the Easter holiday has led retail experts to create a calendar period called “Mapril” to be able to get a more accurate reading on year-over-year retail sales. There was an expected boost in April sales expected this year due to this late Easter date. An increase was forecasted by the International Council of Purchasing Centers. This is a 5 to 6 percent increase anticipated. Experts could be surprised with a decrease in sales though for Mapril since there have been increasing prices in gas, food and commodities while there is a high unemployment and a terrible housing market.

Retail stock is also fun

Many other factors suggest the March retail sales increase should be taken with a grain of salt. Stock in retail may not be the best choice. Try something else Jeff Mack said from Yahoo! Finance. He cites the belief that retailers are raising costs to offset rising costs in the supply chain, which inflates revenue figures however doesn’t increase profit margins. There were larger clearance sales than normal too after the demand went down over the winter. The expectations were really low too. It may not mean anything to beat them. After the Easter bump, malls could empty and margins could shrink as customers feel the pinch of food and gas inflation.

Articles cited

Los Angeles Times

latimes.com/business/la-fi-retail-sales-20110408,0,816255.story

MSN Money

money.msn.com/business-news/article.aspx?feed=OBR&date=20110407&id=13280589

Yahoo! Finance

finance.yahoo.com/blogs/breakout/same-store-retail-sales-sell-news-20110407-073322-455.html?sec=topStories&pos=5&asset=&ccode=

Market Watch

marketwatch.com/story/retail-sales-defy-conventional-wisdom-2011-04-07

Keep away from fees and fines by contacting the IRS about difficulties

The deadline for filing federal taxes is three days later than usual this year. Even with that extra time, a lot of people will need an additional amount of time to get their taxes filed. If you can’t pay your taxes or file on time, addressing the situation easily is key. As with all debts that you owe, ignoring the problem isn’t the best way to manage the situation. Instead, you should contact the Internal Revenue Service as easily as possible to address the issue. Post resource – Can’t pay your taxes? What to do about extensions and interest by MoneyBlogNewz.

Filing extensions accessible

If you will not be able to file your full tax return by the April 18 deadline, you have to file an extension. The deadline could be changed to October 17 if you fill out Internal Revenue Service Form 4868 properly. The deadline of whenever you pay taxes doesn’t change, even if you extend filing. Whenever you file form 4868, you are required to estimate what your taxes can be. That has to be paid with the extension form. You are able to get a 5 percent penalty every month, up to 25 percent total, if you don’t file your return.

The availability of payment deadline extension

Your tax payment deadline is separate from your tax filing deadline. Sometimes it is impossible to pay the entire tax bill whenever you file. You’ve to file still. That way, you can keep away from paying both a failure to file and failure to pay penalty. You do need to pay as fast as possible. This should help you a lot. Make an effort to pay at least 90 percent of what is needed when filing. There will not be penalties for another six months if you do this. After you file, the Internal Revenue Service will send you a bill. It will only take 30 to 40 days to get it. Interest and penalties on unpaid balances compounds by 4 percent daily, so therefore paying easily is the key. Sometimes you cannot pay at all. Call the Internal Revenue Service to work this out. Call 1-800-829-1040 to talk about payments.

Options for tax settlements

Tax settlement is something advertised on television all the time. Usually it is a bad idea to make an effort to use these tax settlement services. Getting same day loans to pay the debt would be a safer option. These tax-settlement services file an Offer in Compromise with the Internal Revenue Service, which individual taxpayers can file on their own. Do not do an Offer in Compromise unless it is a last resort. The IRS might be willing to work with you before this. In short, keep communicating with the Internal Revenue Service — the longer you wait to contact the agency, the more money you’ll end up owing.

Citations

IRS

irs.gov/businesses/small/article/0,,id=104593,00.html

H&R Block

hrblock.com/taxes/tax_tips/irs/extension_info.html

Bigotry evident in ongoing bank redlining

The Center for Responsible Lending tells it like it is: African-American and Hispanic banking customers are continuing to get the short end of the stick when it comes to consumer credit. Discriminatory practices like redlining have once again risen up as the U.S. struggles to emerge from the economic recession. Lack of access to short term installment loans and mortgages in significant portions of minority communities has changed its face, however not its heart of discrimination. Resource for this article – Racial discrimination evident in continued bank redlining by MoneyBlogNewz.

Rate of home loss high for minorities

Michel Calhoun is the President of the Center for Responsible Lending. He told USA Today that minorities in the U.S. have "received the worst treatment, at a very high cost." Estimates that 20 percent of African-American and Hispanic householders will lose their homes in the mortgage crisis – a rate more than double that of white householders – suggest the gap between the minority and the majority is growing.

African Americans are 41.7 percent more likely to be denied a traditional bank loan than a Caucasian person is according to a 2008 study done by Christian Weller called "Credit Access, the Costs of Credit and Credit Market Discrimination." Weller is of the Center for American Progress and the University of Massachusetts. When considering mortgages, the gap got even bigger.

The ‘dual system of finance’ isn’t equal

John Taylor, CEO of National Community Reinvestment Coalition, sees a double standard.

"It's about a dual system of finance," he says. "People of color do not have the same access that most American citizens enjoy.

The alternative when traditional banks deny low or middle-income minorities credit is frequently no credit check payday loans from payday lenders. The short term installment loans, for an emergency, are a convenient choice that many might choose. Still, Hilary Shelton, National Association for the Advancement of Colored People Senior V.P. for Advocacy and Policy, explained the fees are often larger than traditional loans. Payday loans are too small to make up for a lost mortgage. Minorities are out of luck.

Deregulation in banks

Everyone noticed the 1990s when several neighborhoods were not able to get bank loans, mortgages or insurance. These entire neighborhoods were shut out. At this time, banking and utility deregulation started. That was when redlining started to occur. Redlining started to be combated by the Community Reinvestment Act and Home Mortgage Disclosure Act. Nevertheless, practices continued such as giving higher rates to minority neighborhood residences. The Wall Street crisis occurred due to this.

What regulators are doing now to stem the tide

• There are 28 volunteer banks the FDIC is trying to get a two-year short term installment loan program started at.
• The Department of Justice has created a fair lending unit to police redlining.
• The CFPB will open in July 2011.

Articles cited

Peri

peri.umass.edu/fileadmin/pdf/working_papers/working_papers_151-200/WP171.pdf

IBEW

ibew1613.org/library/redlining.html

USA Today

usatoday.com/money/perfi/general/2011-04-04-real-estate-financial-discrimination.htm

Did banking deregulation stack the deck against minorities?

youtube.com/watch?v=FDYXAywWWdk

Consumer should be on alert after Epsilon database hack

Last week hackers broke in to the database of Epsilon, a web marketing firm. The Epsilon database hack exposed the names and email addresses of millions of customers at credit card businesses and major retailers. Several major credit card holders are receiving warnings from banks about the breach, which is likely to spawn a spate of spam in the form of phishing emails. Article source – Epsilon database hack exposes millions to phishing attacks by MoneyBlogNewz.

In the Epsilon database: Better watch out

The theft of millions of names and emails in the Epsilon database hack could possibly be the biggest data security breach in United States history. Friday, Epsilon announced that consumer files were hacked meaning emails and other information at websites may have been stolen as Epsilon sends over 40 billion marketing emails for 2,500 companies annually.

This hurt at least a dozen corporations. Banks were affected by this including J.P. Morgan Chase, Citigroup, U.S. Bancorp, Barclays Bank and Capital One. Customers need to look for phishing scams in the future. Also, if you have been working with Best Buy, TiVo, Walgreens, Kroger or HSN, then you should watch out. The hacker might have also stolen student email addresses from The College Board, an organization that oversees SATs in the U.S. for about 5,900 colleges and universities.

Knowing if you're in a scam

Spam is more than likely the goal of all the email addresses and names stolen out of the Epsilon database. The "phishing scam" might be very effective this time. This is because people with actual accounts and information will be targeted. The login information is stolen giving hackers access with phishing emails attempting to trick consumers into logging into a fake account. The email could be more convincing after having hackers' name and email in order to go on Facebook and find more personal details. Many times, a phishing con will say that an account could be closed if information is not updated or ask an individual to update charge card information. Some phishing scams even claim that a response is required since the users account has been compromised.

A new record for stealing data

There were a limited number of customers which were caught in the Epsilon database hack, the business said. Still, it has yet to be released how several consumers and students need to worry over it. In addition to the Epsilon clients mentioned above, others consist of Verizon Communications, Hilton Hotels, Kraft Foods and AstraZeneca. Internet security analysts believe the Epsilon database hack may surpass the Heartland Payment Systems hack, currently recognized as the biggest identity-theft incident in United States history. After stealing over 40 million payment card numbers in the Heartland Payment Systems hack, Albert Gonzalez got 20 years in prison as a sentence.

Citations

Associated Press

finance.yahoo.com/news/Banks-creditcard-issuers-warn-apf-754015157.html?x=0&sec=topStories&pos=main&asset=&ccode=

MSN Money

money.msn.com/identity-theft/news.aspx?feed=OBR&date=20110403&id=13261200

Computer world

computerworld.com/s/article/print/9215443/Update_Bank_customers_warned_after_breach_at_Epsilon_marketing_firm?taxonomyName=Security&taxonomyId=17

Microsoft

microsoft.com/security/online-privacy/phishing-symptoms.aspx

Release of discount window details unveils big European financial institution bailout

To forestall going belly-up throughout the financial turmoil, anonymous financial institutions lined up at the Federal Reserve’s discount window for cheap loans. Thanks to a Freedom of Information Act request enforced by the Supreme Court the other day, data showing the true extent of discount window lending has been released. The true danger of Wall Street’s financial meltdown to the world was made evident by the discount window data. Resource for this article – Release of discount window data reveals big European bank bailout by MoneyBlogNewz.

Fed bails out the world’s banks

In order for healthy banks to get just a little bit of short term help in loans, the Fed crated the discount window. Due to the stigma in financial circles associated having to stand before the Fed with hat in hand, the identities of the borrowers have always been kept secret. After Bloomberg and Fox Business filed a request under the Freedom of Information Act, the Fed was required to release the data though due to a Supreme Court ruling. When the Fed finally released the data Thursday, any concern about a negative stigma may have been alleviated by the fact that just about every bank in the world had to stand in line at the discount window as the global financial system teetered on the brink of collapse. More than 25,000 pages of documents show the Fed lent as much as $110 billion through the discount window in one day as the financial turmoil peaked.

Financial Institutions in Europe borrowing a ton

In the course of the financial turmoil, Wall Street banks got a lot of criticism for taking government bailout funds. The discount window financial institutions were mostly European banks though, the details showed. On Oct. 29, 2008, Belgian-French bank Dexia borrowed $26.5 billion and Dublin-based bank Depfa, owned by German mortgage lender Hypo Real Estate, borrowed $24.6 billion. There were other European financial institutions to get billions from the discount window. These integrated France's Societe Generale, Austria's Erste Group and Bank of Scotland. On this side of the pond, before it became the biggest bank failure in history, Washington Mutual borrowed $2 billion on Thursday, Sept. 18, 2008, to get through the weekend. The $2 billion loan could not be paid by Wamu Monday when it was due leaving the financial institution to keep getting $2 billion overnight loans. This was until Thursday, September 25, 2008 when J.P. Morgan Chase took over.

United States not the only ones with a financial crisis taking place

September 2008, the Lehman Brothers failed causing the financial crisis to begin. The financial system literally stopped while the economy dived downward and the Fed got banks all over the world asking for just a little short term help. The discharge of the discount window data shows just how bad the damage was and just how quickly it spread. Fed Chairman Ben Bernanke said that only one of the financial institutions that came to the discount window for help was not at risk to collapse in a testimony to congress investigating the discount window. In the 2010 Dodd-Frank financial reform bill, it is required for the discount window lending information to be released but only two years after the loan has been released.

Information from

Fox Business

foxbusiness.com/industries/2011/03/31/demystifying-feds-secretive-discount-window/

Wall Street Journal

online.wsj.com/article/SB10001424052748703712504576234700412932330.html

Reuters

reuters.com/article/2011/03/31/usa-fed-lending-idUSN3126104220110331?pageNumber=2

What is great for jobs not always good for stocks

The Labor Department published its monthly careers document Friday and stocks surged. The acceptance of employees into the midst of companies has been occurring frequently, so much so that the economy at large has not seen such a gain of individuals getting up early and going to work and working all day and then going home since the last recession started. Historically, when unemployment goes down so do stocks, for numerous reasons so don’t get too anxious about investing in the markets if too several people find the jobs they have been looking for freaking ever. Put simply, don’t take out an installment loan to load up on stock just yet.

Gaining in first quarter careers and stocks

The U.S. joblessness rate dropped from 8.9 percent in Feb. to 8.8 percent in March, the lowest rate in two years, according to the Labor Department. This caused a rise in stocks. It was very clear. There was a 0.7 percent increase in the Dow Jones Industrial Average going up 87 points as a new high in 2011 of 12,406. There was also a 10 point increase, or 0.8 percent, to 1,335 in the Standard & Poor's 55. A 0.6 percent increase in the Nasdaq also happened. It went up 15 points to 2,796. There was a 216,000 increase in workers on U.S. payrolls in March after the month before gained 194,000. In November, unemployment rate was at 9.8 percent, which it has continued to drop from since making the biggest, since 1983, four month decrease. In the three months that ended with March, there was the first biggest first-quarter gain with a 5.4 percent increase since 1998 in the U.S.

Labor affects the market

Usually Wall Street is okay with layoffs occurring. This is because most investors believe a higher profit will come from smaller payrolls. When everyone was losing jobs in January 2009, it was good for the stock market. It went up. In fact, in the past 60 years the stock market has performed better on average when the United States unemployment rate was higher rather than lower. Yearly the joblessness rate was over 6 percent, there were huge increases in the S&P 500, reports Ned Davis Research. It would go up 13.5 percent. Joblessness beneath 4.3 percent would mean a smaller increase. On average, the S&P 500 increase would be 2.1 percent. MarketWatch states that in 2009, Ed Clissold of Ned Davis Research pointed out traders will do better with high joblessness because the stimulus the federal government puts out will help them on top of lower costs and high profit. Stock prices can have changed based on job cuts by the time unemployment news comes out, which ! means traders can sell and make some money.

Traders hope job information doesn’t get too good

Friday's good labor market information helped stocks increase. More than likely this was because there was not too large of a stock decrease. Most traders are more worried about the short term than the long term. Traders think the Federal Reserve bond purchasing program, QE2, has helped the stock market. There are several traders with fixed-incomes that are worried about the labor markets. They worry that in June the Fed won’t purchase bonds anymore as the QE2 program will end. The good stock might not be good for everybody not involved in Wall Street which has been shown as Americans struggle and Wall Street bonuses increase. If more Americans keep finding work, the markets could change their tune.

Articles cited

Associated Press

finance.yahoo.com/news/Stocks-rise-after-apf-653435655.html?x=0&sec=topStories&pos=1&asset=&ccode=

Market Watch

marketwatch.com/story/bad-news-on-job-front-doesnt-have-to-be-bad-for-stocks

CNN Money

money.cnn.com/2011/03/31/news/economy/thebuzz/index.htm

Goose Island brewery acquired by Anheuser Busch

Goose Island, a Chicago based microbrewer, has been ordered out by megalithic beverage corporation Anheuser Busch, the company that makes the Budweiser family of beverages. During the past few years, huge beverage companies like Anheuser, SABMiller and Molson Coors, have been getting out little breweries, which some people aren’t amused with. Macrobreweries dominate the industry for beer, prompting cynics to claim corporate The United States is out to spoil everyone's fun.

Buying a microbrewery for the macrobrewing company

About $38 million will be paid by Anheuser-Busch to get the Chicago Goose Island brewery, reports USA Today. Anheuser-Busch is the Budweiser beer macrobrewing family. A partnership between Anheuser and Fulton Street Brewery which makes Goose Island beers was already in existence although now the Goose Island line will be an in-house brewery. Craft Brewers Alliance sold 42 percent of shares to Anheuser while 52 percent of Goose Island's shares were ordered by Anheuser outright. There are lots of small brew houses put together with Craft Brewers Alliance, states BizJournal. The business was merged together in 2008 by Widmer Brothers and Redhook. Anheuser-Busch, which was ordered several years ago by global beverage titan InBev, owns 32.5 percent of Craft Brewers Alliance Inc.

Big corporations get distribution decisions

The Chicago Sun Times explained that Anheuser was given Goose Island control on reason. This was so that more beer could possibly be made to meet demand that is going up. Since it’s well known that brewers, distillers and vintners all need a distribution company to sell the beer being made to different businesses, this makes sense. To be able to keep up with demand, because law mandates the distribution system, small businesses for instance Goose Island will often sell themselves to corporations for instance Anheuser Busch/InBev, SABMiller and Molson-Coors that have controlling interests in distribution. Reuters explains that in 2009, hardly any microbrewers sold beer. It only accounted for five percent of sales in beer.

Getting help by simply being a small brewer

The U.S. U.S. Senate currently has a bill before it called the Brewer’s Employment and Excise Relief Act, which would cut the excise tax on the first 60,000 barrels of beer produced by breweries in half, according to Reuters. Breweries that make less than six million barrels a year wouldn’t have to pay as much of an excise tax. While producing beer, the first 60,000 barrels have a $7 excise tax currently. It jumps to $18 a barrel if more than that is made. Businesses that stay under 6 million barrels a year will only have to pay $16 a barrel. This will benefit small businesses but not corporations. The House of Representatives will be seeing another version soon. A bill of this sort would help to lower the price of craft beer, making it easier for those who enjoy craft brewed beer to do so.

Information from

USA Today

usatoday.com/money/industries/food/2011-03-28-anheuser-busch-goose-island.htm

Chicago Sun Times

newssun.suntimes.com/business/4552383-420/goose-island-brewery-sold-to-anheuser-busch.html

Biz journals

bizjournals.com/portland/news/2011/03/28/craft-brewers-sells-goose-island-stake.html

Reuters

reuters.com/article/2011/03/19/us-breweries-idUSTRE72I3E620110319?pageNumber=1

States squeeze education budgets which signifies tuition increases imminent

Budgets are being trimmed by every state in the union after shortfalls for the past few consecutive years. State universities are feeling the pinch, as advanced schooling is one of the first things to fall in the cross hairs of legislators planning to trim the budget down. Public universities have to institute tuition hikes just to keep up.

Forty three of the fifty states lowered the higher education budget

A total of forty three states have had to cut financing for higher education during the recession of the past few years, in accordance with MSNBC, and it’s not a trend that will likely be reversing soon. Funding for advanced schooling is always on the chopping block when financially difficult times come. This is because raising taxes could be really hard for a political campaign. tuition hikes are happening also with the cuts to state funds for higher education and federal grant cuts. Getting unsecured loans may be necessary for college students. This might be the only way they can get through college.

Less money from federal government too

In the last few months, federal funding for college has been looked at for spending cuts. There could be a huge decrease in federal Pell Grants in 2012. The Christian Science Monitor states this would mean a $5.7 billion decrease. Most four year universities' tuition can be covered by the $4,000 per year limit the Pell may be reduced down to. The cost of attending one year at a public, non-profit university is $16,140, according to College Board.

Too much money needed for school

In just the last 10 years, there has been a 33 percent increase in enrollment at public universities, in accordance with College Board which creates and administers the Scholastic Aptitude Test (SAT). Tuition at public four-year universities has increased by at least 6 percent per year since 2001, and students will bear the brunt of those increases. It is becoming more and more expensive to go to a college which students might end up needing more installment loans to pay for.

Articles cited

Christian Science Monitor

csmonitor.com/USA/Education/2011/0225/Washington-trims-Pell-Grants-How-will-students-pay-fall-tuition

MSNBC

msnbc.msn.com/id/42140407/ns/business-your_retirement/

College Board

trends.collegeboard.org/college_pricing/

Why allowing banks to increase shareholder dividends is a bad idea

Right now the quarterly dividend on a Bank of America share is only a penny and the Federal Reserve said they should stay there. Following a round of stress tests, the Fed told the biggest banks they were fit enough to increase payouts to shareholders. However Bank of America was the exception. The fragile economic recovery leads some industry experts to question the Fed’s decision, which weakens banks in the event of a double dip. Article source – Why allowing banks to boost shareholder dividends is a bad idea by MoneyBlogNewz.

Fed tells Bank of America no

In January Bank of America told the Federal Reserve it wanted to initiate a rise in shareholder dividends in the second half of 2011. The quarterly dividend would have to go up 8 cents which would be about 20 percent of earnings. Because of the decision Bank of America made to lose $2.24 billion past year purchasing Countrywide in 2008 during the housing industry drop, the Fed told the bank not to do it. There has also been pressure from investors to get B of A to purchase back bad mortgage securities. These were sold before the meltdown began. After the green light from the Fed, JPMorgan Chase, Wells Fargo and U.S. Bancorp quickly announced dividend hikes. Now Bank of America has a plan to give a new proposal to the Fed. This will take place before June is over.

Why would banks increase dividends for shareholders?

The argument Wall Street banks have said that it would be bad to stop a rise in dividends. This is because the economy would not be able to expand without the banks being able to raise equity in the future. banks are able to lose equity however get more investors by paying shareholder dividends. Bankers are not that interested in equity though. They just want leverage to use. banks fund over 95 percent of investments in debt taking other people's money although corporations like Google use equity to get funded. banks stay away from equity because their executives and shareholders make big money on leverage as long as the financial services sector is healthy. banks become more liable for risks when they have more equity too. They do not count on taxpayers to bail them out when things go bad while instead decreasing default risk.

Possibility of another bailout

The Fed had a difficult time with highly leveraged banks in the financial crisis. There are some that disagree with the Fed permitting shareholder boosts. They thing the boosts should not happen until the economy is stronger. Simon Johnson of the New York Times compared a highly leveraged bank to buying a house with a minuscule down payment on a mortgage for 98 percent of the purchase price. If home costs rise, the risk pays off. Creditors end up missing out while the borrower loses if they drop. The difference, however, between highly leveraged banks and highly leveraged homebuyers are that the banks have learned they’re too big to fail. There could be a government bailout to help out the banks and take away tax dollars when a leveraged bank fails.

Citations

New York Times

economix.blogs.nytimes.com/2011/03/24/dividends-lost/?emc=eta1

Business Insider

businessinsider.com/how-bank-dividends-help-wall-street–and-hurt-almost-everyone-else-2011-3

CNN Money

money.cnn.com/2011/03/23/news/companies/bank_of_america_dividend/index.htm