Auto dealer regulation - A failure to compromise

Auto dealer regulation has been on the minds of House Democrats recently, or a lot more specifically a lack thereof. Their belief is that the newly formed Consumer Financial Protection Agency (CFPA) would hamper auto dealers’ ability to recuperate by limiting their ability to continue offering dealer-assisted financing. Led by New York Reps. Bill Owens and Mike McMahon, the Democrats thought that they may have achieved an acceptable bipartisan compromise – until now. Automotive News reports that an additional provision was surreptitiously inserted to the bill that would have actually expanded the CFPA’s oversight over car dealers.

{|Source for this article: Auto dealer regulation – A failure to compromise by Car Deal Expert

For auto dealer regulation, NADA is lobbying hard

The National Automobile Dealers Association (NADA) – which is the auto dealer lobby – is flexing its considerable lobbying muscles to bring lawmakers in line with the a lot more permissive House version of the auto dealer regulation bill. Kansas Republican Sen. Sam Brownback was very vocal in his opposition to Senate changes that went against what had been perceived to be “sensible bipartisan compromise.” No matter what ends up happening, compromise would go against President Obama’s direct request that no special exceptions be made when it comes to the CFPA’s jurisdiction.

Christ Dodd delivers on what Obama wants

As crafted by Democratic Sen. Chris Dodd of Connecticut, the proposed auto dealer regulation would allow the CFPA to write binding rules that car dealers would have to follow regarding “credit discrimination, credit disclosure, financial privacy and credit-report accuracy,” as reported by Automotive News. NADA spokesman Bailey Woods disparaged the altered Senate version of the auto dealer regulation bill, claiming that it would it a lot more difficult for “millions of Americans (to discover) an affordable way to finance a vehicle.”

Practices that are unfair and deceptive

Ridding the industry of deceptive practices is the essence of the Dodd bill, which NADA finds totally untenable. Last month, Brownback’s proposal to grant dealer exemption from CFPA regulation had been approved 60-30 as “a non-binding recommendation to Senate negotiators,” according to Automotive News. Today a vote for either House or Senate approach occurs. By early next week, the version will leave committee and go to the House and Senate for final approval. The final step could be to obtain the president’s signature. What will end up being within the future for America's auto dealers?

More information on this topic

Automotive News (subscription may be required)

autonews.com/apps/pbcs.dll/article?AID=/20100623/RETAIL07/100629945/1203

Sam Brownback views auto dealer regulation as anti-small business:

youtube.com/watch?v=jv8lgKa_yAA

Consumers win big with Financial reform bill agreement

Friday, congressional negotiators announced a financial reform bill agreement. Next week the house and Senate will vote on it. If it passes, the financial reform bill changes most of the rules that form the relationship between financial institutions and consumers. Some call the financial reform bill a big win for consumers. Others call the bill a big shaft for consumers.

Resource for this article: Financial reform bill agreement touted as a big win for consumers by Personal Money Store

Protection agency that is new

The financial reform bill gives all of its consumers a brand new agency to watch out for their interests. The Consumer Financial Protection Bureau will write rules and loan products to keep consumers safe. Business Week reports that Democrats defeated Republican efforts to scale back the powers of the proposed consumer agency. But the financial reform bill sets up an independent bureau with independent funding. It will be part of the Federal Reserve and has the power to write rules banning abusive practices in credit-card and mortgage lending.

Consumers hurt by Fiduciary standards?

A provision in the financial reform bill that requires brokers to abide by a fiduciary standard when they give any kind of investment advice has those in that industry crying foul. David Loeper of Forbes says that part of the financial reform bill might just hurt the protection of consumers. He feels that way because the bill requires brokers to be held to a fiduciary standard enforced by the Securities and Exchange Commission, just as investment advisers are today. According to Loeper, that means consumers won’t be able to tell the difference between brokers and investment advisers. Apparently he thinks that being able to trust both species equally isn’t such a good thing.

Oversight is consumer agency consolidation

The financial reform bill’s Bureau of Consumer Financial Protection would consolidate oversight of a wide variety of financial products, including mortgages, credit cards and payday loans. ABC News reports that responsibility for these areas seems to be currently scattered across a variety of government agencies. Experts explain that creating a single supervisor will help make financial products easier to understand and not take unfair advantage of borrowers.

Consumer protection leadership

The consumer Financial Protection Bureau was designed by Elizabeth Warren, a Harvard Professor who is now a chairwoman of the congressional oversight panel for the Troubled Asset Relief Program (or TARP), the $700 billion government bailout of the financial industry. Democratic Senator Sherrod Brown who is of Ohio told Business week that he “would love” to see Warren appointed to head the agency. Brown said he knew people who wanted Warren to be in charge.

Don't dare mess with Elizabeth Warren

Warren, who specializes in bankruptcy and consumer law, called for regulations to limit credit-card contracts to a short, easy-to-read document, curb bank overdraft fees and make online credit scores free. In an interview with USA Today she said:

“I discovered the extent to which the business model of selling debt to middle-class families has changed over the past 20 years. The credit card companies and other lenders moved to a tricks and traps pricing model. The fees, the interest rate hikes and all the other surprises in the fine print have left families increasingly vulnerable. I watched hardworking, play-by-the-rules middle-class families collapse financially, and that led me to study the consumer credit market and eventually to the idea behind the consumer financial protection agency.”

Find more information on this topic

Business Week

businessweek.com/news/2010-06-22/warren-should-head-new-consumer-agency-brown-says.html

Forbes

blogs.forbes.com/investor/2010/06/25/financial-reform-bill-will-shaft-consumers/

ABC News

abcnews.go.com/Business/article/financial-reform-bill-means-big-consumers/story?id=11012343&page=1

USA Today

usatoday.com/money/companies/regulation/2010-06-24-warren24_ST_N.htm

Lobbyists argue to deteriorate new mortgage guidelines in financial reform

The U.S. House and Senate will begin on refining mortgage legislation Tuesday. The legislation would enforce the largest overhaul to mortgage lending rules in many years. The mortgage legislation, part of the financial reform bill, is supposed to end the risky lending practices blamed for causing the economic crisis. Mortgage industry lobbyists are trying to take the teeth out of provisions that would protect consumers and limit the industry’s ability to find loopholes in underwriting standards.

Source for this article: Lobbyists fight to weaken new mortgage rules in financial reform by Personal Money Store

Preventing one more financial crisis with mortgage rules

Proposed changes to some mortgage lending rules contain new rules for loan repayment, the ability to sue your lender for some poorly underwritten mortgages, revised appraisal rules and rules about how much risk lenders must share on the loans they sell to investors. Housing Watch reports that many of these rules will affect how expensive mortgages will be and what types of mortgages could be offered by lenders. One of the key new rules mortgage industry lobbyists want to undermine needs many of the lenders to hold a 5 percent stake in loans that are bundled and sold with other loans. Those bundles are the mortgage-backed securities that caused the financial disaster.

Will the lenders of mortgages try and behave?

With mortgage legislation that calls for lenders to hold a stake, the idea is that they’ll act more professionally with their underwriting. When lenders sold their risk along with their loans, they were very careless and handed out numerous loans which were certainly going to default. The Wall Street Journal reports that mortgage industry lobbyists want to exempt mortgages from the 5 percent risk-retention requirement if the loans fully document a borrower’s income and assets and do not include interest-only payments, negative amortization or balloon payments. Exempt loans would also have to cap certain mortgage-origination fees somewhere near 3 percent of the loan.

Mortgages that are a lot more expensive with new rules?

Banks say new mortgage lending rules about risk retention are going to make mortgages more costly for consumers because banks could be required to hold a lot more capital, a challenge for smaller lenders. But Housing Watch said the consumer groups support “encouraging the market” to sell safer products. New mortgage lending rules can make more paperwork for borrowers, but they already push many paper trying to get loans in today’s constricted credit markets. More diligence from banks about completely verifying a borrower’s income to prevent default should be good for everyone.

Finding a way to protect borrowers from predators

New mortgage lending rules also include compensation guidelines that prevent lenders from making a lot more money by making riskier loans. This provision of the financial reform bill would bar lender-paid commissions that are based upon mostly on the rate or type of loan. It was reported by the Wall Street Journal that brokers say the rule would make it harder for them to compete with banks, reduce competition and raise costs for consumers. Consumer advocates say the changes will make it easier for borrowers to shop for loans and compare prices. Barry Zigas, director of housing policy for the Consumer Federation of The United States told the Journal that the new provisions will shift the burden of proof “from the consumers having to protect themselves from unreasonable fees to the providers of services justifying their costs.”

Mortgage lenders being saved from themselves

Other new mortgage rules that industry lobbyists are trying to fight consist of limiting the fees mortgage lenders charge if a borrower refinances the loan or pays it off early. They also don’t like the rule that needs them to prove that it is likely to be in the borrower’s best interest to finance a loan, instead of just pushing a new loan to benefit from additional fees or commissions. Finally, mortgage lenders really just don't want borrowers to be able to sue them if they violate the new mortgage rules. According to Industry lobbyists this would make buying mortgages too risky for investors.

Read more on this topic here

Housing Watch

housingwatch.com/2010/06/21/new-mortgage-rules-may-hurt-borrowers/

Wall Street Journal

online.wsj.com/article/SB10001424052748704050804575318753964100106.html?mod=googlenews_wsj

No cash in divorce case – Elon Must of Tesla, Space X and Iron Man

Elon Musk, the high flying tech entrepreneur, is broke. But is he? Musk, who is the man behind such cutting edge companies as PayPal, Tesla Motors and Space X, said he was out of cash and living on personal loan when his wife filed for divorce. After he ran off with an actress, Mrs. Musk wants to slice off a chunk of Mr. Musk’s empire.

Article Resource: Elon Musk of Tesla, Space X and Iron Man – no cash in divorce case

Elon Musk – divorce won’t cramp his style

Elon Musk — Space X rocket scientist and also the Tesla Motors mogul, was used as a role model for Robert Downey Jr. in his portrayal of industrialist Tony Stark of the Iron Man movie franchise — seems to have it all. But it was reported by the New York Times that Musk, finding himself within the middle of a divorce, says his bank account is empty. He says he invested each cent of his money in his companies and is living off loans from his wealthy friends. He subsists, according to court filings, on a mere $200,000 a month. Nevertheless, he nevertheless seems to have his private jet.

Elon Musk is the Iron Man of tech

Elon Musk, who graced “Iron Man 2″ in a cameo role, may be broke, but in the world of the super rich, the term is relative. On June 4 his company Space X conducted a successful launch of the Falcon 9, a rocket he helped design, which brings the company closer to a $1.6 billion contract with NASA. Tesla Motors, the $100,000 electric sports car business he founded, just won a $50 million investment that came from Toyota and is scheduled to hold an initial public offering of stock that is expected to value the business at about $1.4 billion.

Divorce wanted by Justine Musk

After Musk ran off with actress Talulah Riley, his wife, fantasy novelist Justine Musk, filed for divorce. As outlined by Autoevolution, Mrs. Musk wants the house, alimony, child support and $6 million cash. She also wants a chunk of Musk's stock in SpaceX. In a post on her blog titled “Golddigging,” she wrote:

“For those who want to know the extent of my golddigging, this is what I asked for, from my ex-husband and the father of my five kids Elon Musk, who is a billionaire and likely to become one of the wealthiest men on the planet. Is that what I deserve? I do not know. Who exactly deserves that kind of wealth? But based on our life and history together, is that reasonable? I think so."

Elon Musk has assets, not cash

In his finances, he wasn't always strained. According to VentureBeat, in documents filed in the divorce case, Musk made $9.6 million in 2008; he made an average of $17.2 million per year from 2005 to 2008. As of Dec. 31, 2008, he also had extensive holdings that were in venture capital and private equity partnerships. The partnerships aren't considered liquid assets. It might take months to get cash given that buyers have to be willing to take the risk.

A lot more data on this topic
New York Times

dealbook.blogs.nytimes.com/2010/06/22/sorkin-elon-musk-of-paypal-and-tesla-fame-is-broke/

Autoevolution

autoevolution.com/news/elon-musk-is-broke-21647.html

VentureBeat

venturebeat.com/2010/05/27/elon-musk-personal-finances/

What does the Sony Dash do and not do

Not quite an iPad, not quite a laptop and not quite an alarm clock, the Sony Dash is showing up at the top of a lot of Father’s Day gift lists. The Sony Dash can be probably the most interactive, yet expensive, alarm clock you will purchase. The Sony Dash can connect you to the web and run applications although it is pricey.

Resource for this article: What the Sony Dash does and doesn’t

Sony Dash features

First, the Sony Dash tech specs. The device is plug-in only (though Sony says a battery version is coming). There is a snooze button and power button on the top of it with a seven inch touch screen as well. The display has about 800 x 480 pixels. The Sony Dash features a 500 MHz processor and 256 MB of RAM. There are built-in stereo speakers and WiFi connections. The operating system of the Dash is Linux, with a Chumby-based interface.

The Sony Dash and what it does

At first glance, the Sony Dash is basically intended as an alarm clock media center. Along with Youtube videos, the Sony Dash will play Pandora and Netflix.Depending on some of the other developed applications you download, you may be able access Facebook and Twitter also.You need wireless internet access inside your house to use it. The Sony Dash is just an costly alarm without wireless internet.

What the Sony Dash doesn’t

The Sony Dash, like all good things, has limitations. It doesn't have a battery meaning it has to stay next to a power outlet. There is also no programming solution for streaming or downloading your own content; you can only stream things off the internet. Third, the Sony Dash doesn’t necessarily log you into all your favored applications; you may have to go to your Sony Dash account on a computer to do so.

Who the Sony Dash is good for

A hardcore computer user might think the Sony Dash is just an expensive toy. For individuals who use computers to take a look at pictures and watch a TV show, though, the Sony Dash may be a great option. The only major limitation is that without a pre-existing wireless internet connection, the Sony Dash is useless.

Unless you are able to discover a neighbor that is willing to share wifi with you, the device will set you back about $ 250 with connections.

The US Postal Service is looking for a vehicle replacement

All the vehicles need this to happen real badly. The automobiles were intended with a 24-year life cycle, and are simply getting old. Agency reports say that replacing the entire fleet with comparable vehicles would cost $ 4.2 billion. Is replacement the only option?

Resource for this article: U.S. Postal Service searching for vehicle replacement

Postal service LLVs

LLV stands for Long Life Autos and is the kind of truck the Postal Service uses. With daily driving, the trucks had a 24 year life cycle. That 24 year cycle is almost over. The Postal Service Inspector General has said that, over the next eight years, the Postal Service would spend a lot more repairing the vehicles than replacing them.

The price of repairing all of the USPS vehicles

In fiscal year 2009, the U.S. Postal Service spent $ 524 million on LLV repair. Generally, repairing the autos instead of replacing them has been a good financial decision. The average repair bill for each LLV is about $ 5,600, with some going as high as $ 40,000. The autos do not typically require specialized maintenance, although the right-handed driving setup can cause a lot more costly maintenance at times.

How to replace the LLV fleet

The cost to benefit comparison of continuing to repair the LLV fleet is easily turning upside down. Within the next eight years, the postal service will really lose money if it repairs rather than replaces any cars that have a repair bill that cost more than $ 3,500. It would cost $ 30,000 per truck for straight across replacement.

Testing Postal Service car alternatives

New alternatives for the Postal Service are being researched. The USPS has offered a $ 50,000 reward to five different firms for providing a working prototype of a USPS automobile by August. Letter carriers in numerous other areas are testing three-wheeled electric vehicles, bicycles, and also some more traditional minivan-style vehicles for delivering the mail, rain or shine.

Passage of climate change bill threatened by cap and trade definition

Cap and trade, by definition, is an anchor of the climate and energy bill under current debate in Congress. The cap and trade definition is elusive to most people not directly involved in utilities, petrochemicals or the manufacturing business. To understand cap and trade, think of it as a system intended to create and regulate a market for carbon, or Co2, which is really the principal greenhouse gas.

Article Resource: Cap and trade definition threatens passage of climate change bill By Personal Money Store

Cap and trade definition

The cap and trade definition within the climate and energy bill proposes the government sets a limit on the amount of carbon that could be released to the atmosphere by all of the companies. US companies are given permits allowing them to release certain amounts of carbon. Companies that emit less carbon than their permits allow can sell the unused tons of carbon on the open market. Companies with carbon emissions that exceed their permits must buy them from all of the other companies that are offering their leftovers for sale.

Cap and trade and national energy policy

Cap and trade is a controversial provision that threatens to derail the climate and energy bill if it doesn't change. While Democrats view cap and trade as a fair way to regulate pollution, Republicans say cap and trade is a tax on business that will kill jobs. With the advent of the oil spill in the Gulf of Mexico and its potential impact on national energy policy, cap and trade has become a political hot potato. So much so that President Obama avoided mentioning the term in his Oval Office speech about national energy policy that he gave on Tuesday covering the oil spill, energy legislation and also the government’s role in regulating greenhouse gases.

New limits on carbon emissions

Carbon emissions targets are nearly identical in both Senate and House versions of the climate and energy bill. PBS reports that regulated industries must reduce their carbon emissions by 17 percent (when it is being in contrast to 2005 levels) by 2020 and 83 percent by 2050. The Senate version has added a “dividend,” or rebate, approach returning some of the revenue that has been generated by trading the pollution permits back to consumers within the form of energy rebates. Those industries contain electric utilities, petrochemical refiners, manufacturing and heavy industry. Each has a deadline for entering the carbon market: utilities start at the beginning of 2013, when natural gas providers and heavy industry enter in 2016.

Arguments on cap and trade

Cap and trade legislation has generated bitter disagreements between Democrats and Republicans over the climate and energy bill. CBS News reports that cap and trade makes the future of the climate and energy bill uncertain because it will make energy a lot more costly. Both parties acknowledge that fact but disagree on just how expensive energy will get because of the bill. The U.S. Department of Treasury says the new taxes would have to be between $100 billion to $200 billion a year.

Costs of cap and trade

At the upper end of the administration’s estimate, the cost of cap and trade per American household would probably be an additional $1,761 a year. John Boehner has estimated the additional tax bill would be at $366 billion a year, or $3,100 a year per family. $1.37 trillion a year would be brought in with personal income tax. A $200 billion additional tax would be just like a 15 percent personal tax increase a year.

Benefits of cap and trade

Cap and trade is about priorities. Some see the issue in black and white: either we can reduce the rate of global warming, or protect a fragile economy. Cap and trade won't be that simple as many things aren't. Ecomil.com reports that climate and energy legislation can reduce carbon dioxide by at least 80 percent if not more of 2005 emission levels by 2050 and significantly reduce the rate of global warming. The system will even create billions of dollars for the government to spend on things they want like roads, national parks and personal checks to offset household energy costs.

Catch up with China

What numerous fear about cap and trade is that if businesses and corporations are punished for their pollution emissions, consumers will pay the price. Energy doesn’t respond to supply and demand. Utility companies can drive up prices to cover rising production costs. Meanwhile, countries like China are investing in clean energy industries of the future, when Americans sit around arguing about things like cap and trade. No solution is going to be perfect, given that any House or Senate bill is full of special-interest goodies and public giveaways to win votes. It's a good start to begin with.

Citations

PBS
pbs.org/frontlineworld/stories/carbonwatch/2010/06/the-american-power-act-cap-and-trade-20.html
CBS News
cbsnews.com/8301-504383_162-5314040-504383.html
ecomil.com
ecomii.com/ecopedia/cap-and-trade

Gifts for Father’s Day to be avoided with one exception

It is harder to discover a Father's Day gift than it is to find a Mother's Day gift. It isn't because men are hard to purchase for. It's that men don't care whether they get a gift or not. If you ask most fathers what they want for Father’s Day, most would probably tell you a one-day trip from fatherhood would do just fine. A round of golf with the fellas or a romantic evening with the wife is something wanted more than an additional tie, barbecue utensils, cheap gadgets or knick-knacks.

Resource for this article: Father’s Day gift ideas to be avoided, with one notable exception By Personal Money Store

Gift ideas to avoid for Father's day

The internet has gifts to keep away from all over it. Jessica’s Coupons gets many hits by featuring a ton of things like a basting brush that looks like a forked twig with two sets of bristles. Then there’s the mini charcoal grill for $50 that looks like a cheap imitation of the one you are able to buy at the hardware store for $30 — except it comes in six colors. Or how about a package of cheap cologne in containers that look like they might just be Cuban cigars for Father’s Day ? Then there’s the cocktail stir sticks shaped like guitars — and last but certainly least, the eco-friendly coffee cup.

Cheap Father’s Day gift ideas

Cheap Father’s Day gift ideas for low budgets will no doubt be huge this year. If you are looking for a great no-cost gift, Dad would probably settle for not having to mow the lawn for a week or two. Some suggestions are given by Savings.com. Some of the more dubious cheap Father’s Day gift ideas are homemade. Although they may not cost a dime, think twice about shooting a video of the kids telling stories about dad or describing their favorite things about him. Kid's hate this. Breakfast in bed is a bad idea too. Putting the children to work baking a cake or a pie should also be avoided.

Getaways for Father's Day

Father's day getaways are always good. About.com offers various Father’s Day getaway suggestions, but the site is off when it suggests the kids have to come along. The last thing you think of when Club Med comes to mind is any kind of family gathering, but the Club Med Sandpiper Florida touts its children programs. Seems like fine for anything but Father's Day. Other family Father’s Day getaways include golfing spas in Pennsylvania and a Huck Finn festival in Victorville, Cali.

Las Vegas and Father's Day

You are able to never go wrong with spending Father's Day in Las Vegas. As far as cheap Father's Day gift ideas goes, this one is certainly not a part of that category, but it is gift he will love and remember.

The Las Vegas Sun reports on plenty of activities — from barbecue festivals to fights to fishing — to keep him from thinking about the lawn on Father’s Day. The Eighth Annual Blues, Brews and BBQ Festival goes on all day over by the Cannery Casino and Hotel. Then go ringside at The Ultimate Fighter Finale at The Pearl, which could be featuring the top four finalists from TUF Season 9’s battle between the United States and also the United Kingdom. At the Ritz-Carlton, look into the Father's Day Scotch and Cigar Experience. That can be a Father's Day he will remember.

Additional details at these websites

Jessicas Coupons
jessicascoupons.com/2010/06/unique-fathers-day-gift-ideas-prices.html
Savings.com
savings.com/blog/post/The-Frugal-Family-Cheap-and-Easy-Fathers-Day-2010-Gift-Ideas.html
About.com
travelwithkids.about.com/od/holidays/a/fathersday.htm

Abbreviations and emissions such as LEV, SULEV, PZEV, and more

You will find many regulations in the world of option fuel and low emission automobiles. Even with national regulations, some states have even stricter standards. This patchwork has created a veritable storm of abbreviations about vehicle emissions. This is what the popular abbreviations mean.

Source for this article: Abbreviations and emissions – LEV, SULEV, PZEV and more

LEV and NLEV are low emission vehicles

The LEV or NLEV standard was first instituted by California as the “Low Emission Vehicle” standard, and later adopted as the “National Low Emission Vehicle” standard. These standards, for passenger cars, mean emitting less than 3.4 grams per mile of carbon monoxide. Through the 2003 model, this standard is applied.

Ultra Low Emission – ULEV

Ultra Low Emission Vehicle standards, in numerous states, applies to autos in model years 2003 to 2010. These ULEV passenger cars have to stay under 1.7 grams per pile of carbon monoxide. Alternately, ULEV vehicles are required to emit no more than half of the emissions of comparable model-year cars.

Super Ultra Low Emission Car – SULEV

Super Ultra Low Emission Cars, otherwise known as SULEV cars, have to emit no a lot more than 10 percent of the average emissions of comparable model-year vehicles. SULEV cars tend to be ultra-efficient hybrids or alternative-fuel vehicles.

PZEV – Partial Zero Emission Automobile

The standards for a PZEV — Partial Zero Emission Car — are the same as for an SULEV car. However, in order to qualify as a PZEV, a vehicle has to have additional controls on gas evaporation and must maintain low emission levels for 150,000 miles. As of 2001, you will find a number of ordinary gasoline engines that qualify as PZEV.

ZEV – Zero Emissions Automobile

Zero Emissions Cars aren’t always necessarily totally “zero emissions." For example, a car that charges off of the power grid could be considered ZEV – despite the fact that the grid nevertheless puts out some pollution.

Standards for fuel economy

Though some states use alphabet soup to describe the efficiency of automobiles, the federal government and EPA have opted to go with a different system. By 2016, vehicle makers can be required to build cars with an average fuel economy rating of 35.5 miles per gallon.

How to finance your home improvement plans

It was reported by Fox Business that Americans are likely to spend more than $ 121 billion on home improvement in 2010, so knowing how to finance home improvement is important. Here are seven of the financing opportunities.

Source for this article: How to finance your home improvement projects

How to finance home improvement – Seven options

Breaking a larger concept down into smaller parts makes it much less daunting; that involves how to finance home improvement. Here are seven steps for solving the problem.

1. Make an effort to utilize cash

It was reported by Fox Business that historically, about 65 percent of homeowners who invest in home improvement pay cash for the job. There are no interest fees and it is simple. However, a large cash outlay can certainly make it more difficult to pay other bills if you aren’t careful. Considering that you will find about 85 percent of today’s homeowners who finance home improvement with cash, even more individuals are budgeting carefully.

2. Use some credit cards

A senior researcher at the Center for Responsible learning, Josh Frank, reminds that revolving interest can keep you in debt for a while. Even the lowest credit card APRs are about twice the rate of standard home loans and home refinance loans. It could skyrocket to 30 percent or more if you miss a payment or two. If you really need to use a credit card, don’t use the card’s cash til payday feature, as the interest rate for cash til payday via credit card is much higher than the standard credit card APR.

3. Use personel loans

Whether you go to a payday lender, a bank or a credit union, unsecured personal cash loan may be available, depending upon your relationship with the institution and your credit score. However, Within the case of a payday loan store, having good credit is not required for personal loans. According to Steven Rick of the Credit Union National Association, such personal cash loan (aka signature loans) could be either higher or lower in rate than credit cards. Thus, it pays to shop around.

4. Work with home equity loans

Because of the housing bubble burst, standards for home equity loans have increased. You may get up to 90 percent of your current home's value in a fixed rate 10-15 year loan with an superb credit score. Fox business says rates should be slightly higher than a mortgage. Fixed-rate loans make long-term budgeting much easier when you’re trying desperately to determine how to finance home improvement projects. Be wary of variable rate loans, as they typically will not go lower and typically will only increase.

5. Trying to use a HELOC

A home equity line of credit (HELOC) sets up an account where the money is there for home improvement if you need it for any reason at all, instead of coming to you in a lump sum as with a standard home equity loan. Make an effort to get a fixed rate rather than a variable one.

6. Get an FHA remodeling loan

The Federal Housing Administration (FHA) has a small remodeling loan program – doing about 3,854 loans in 2009, as outlined by Fox Business – but if you can get in, you are able to borrow up to $ 25,000 for up to 20 years at a very reasonable rate. Any loan more than $ 7,500 is secured by the home itself.

7. Getting some contractor financing

Terms will vary here quite a bit, but if you can get a fixed rate, no points loan with no other hidden fees, a contractor loan can cost anywhere from 5 to 11 percent. It depends upon your credit score also as how much you trust the contractor. Do some research.

Read a lot more on this topic here

Fox Business
foxbusiness.com/personal-finance/2010/06/07/compare-home-improvement-financing-choices/

Peer to peer lending confounds the SEC

Peer-to-peer lender Prosper has began a debate over the right of the SEC to regulate – or not – their industry. A new industry, the peer to peer lending model is a Silicon Valley startup that directly connects investors with borrowers, effectively cutting banks out of the lending equation. The SEC calls these companies investment companies, which means the SEC could regulate them. However, one of the two largest p2p lenders is fighting that ruling.

Article Source: Peer to peer lending confounds the SEC By Personal Money Store

The way peer to peer lending does investing

The peer to peer lending model is one that has been used within the past. Essentially, an investor has direct choice over who they lend money to. A borrower can make a plea for money on the site, including their planned use of the money, their credit score, and personal story. Investors can peruse these requests, and determine exactly where they want to put their money — and they can loan as little as $ 25. The two largest p2p lending facilitators are both Silicon Valley startups – prosper.com and lendingclub.com. As outlined by the two web sites, these lenders typically make about eight to twelve percent back on their initial investment.

Regulations for peer to peer lenders

The Securities and Exchange commission presently claims the right to regulate the p2p lending. The SEC claims that these lenders sell bonds, not loans. One lender, Prosper, is arguing that the business is instead a lender that should fall under regulation of a different agency — ideally, the new Consumer Financial Protection Agency.

The real differences between bonds and loans

In order to raise money, numerous corporations will sell bonds. Bonds are promises to pay money back later, in addition to getting money now. A bond could be traded, exchanged, insured and typically moved around financial markets without much trouble. Because of this liquidity, a bond generally has a very low rate of interest – 5 percent or lower. Loans, instead, are a contract for future payment in exchange for current investment – but cannot be traded as very easily as bonds. Essentially, a loan is sold to an individual by a bank, when corporations "sell" bonds to individuals.

NYSE delists Freddie Mac and Fannie Mae stocks making losses get bigger

Freddie Mac and Fannie Mae were ordered by the government to cease trading their shares on the New York Stock Exchange to abide by NYSE delisting rules. Freddie Mac and Fannie Mae stocks, which have already lost nearly all their value, fell further when the markets got the news. After the delisting, which was ordered to meet NYSE requirements for maintaining their price levels, the stocks of the two companies will be traded within the over-the-counter market.

Article Source: Freddie Mac and Fannie Mae stocks delisted from NYSE, losses grow

Delisting rules of the NYSE

Freddie Mac and Fannie Mae were delisted because NYSE delisting rules require that a business pull its stock if it can’t do anything to keep shares from dropping below the $ 1 average price level for 30 trading days. The Associated Press reports that following the NYSE delisting announcement Fannie Mae shares dropped 42 cents, or 46 percent to 50 cents, when Freddie Mac slid 55 cents, or 45 percent, to 67 cents. In 2007, shares of both companies traded at a lot more than $ 60. As the housing crisis deepened, the stocks lost almost all of their value as they went below $ 1 by September 2008. The government took over Fannie and Freddie.

Fannie Mae and Freddie Mac losses

The companies guarantee 31 million home loans worth $ 5.5 trillion. That's around half of all US mortgages. CNNMoney.com reports that given that September 2008, the Treasury Department has poured $ 83.6 billion into Fannie Mae and $ 61.3 billion into Freddie Mac to cover losses. During the housing crisis, the money has kept lending to home buyers, kept home sales and new home construction from falling further than it has, and has also kept homes from losing more value than they have. But Freddie Mac/Fannie Mae losses totaled $ 93.6 billion in 2009 and then totaled one more $ 18.2 billion within the first quarter this year. The Congressional Spending budget Office estimates that nearly $ 400 billion in tax dollars will eventually be needed to cover Freddie Mac/Fannie Mae losses, making it probably the most expensive of all the government bailouts that they have done in previous years.

Fannie Mae/Freddie Mac stock delisted July 8

By July 8th, Freddie and Fannie can have delisted from the NYSE. The Wall Street Journal reports the NYSE delisting meets the goals of government conservatorship. By delisting, Fannie and Freddie should both save $ 500,000 a year. Both companies paid the maximum amount.

Fanny Mae/Freddie Mac OTC stock

Fannie and Freddie stock can be traded over the counter after July 8. Brokers will negotiate directly with one an additional for Fannie and Freddie stock over computer networks and by phone. OTC stocks are typically very risky to take because they’re the stocks that aren’t considered large enough or stable enough to trade on the New York Stock Exchange. These stocks have research that is hard to find. With the delisting, David Lutz, managing director of equity trading at Stifel Nicolaus and Co. in Baltimore, explained to Business Week that "We lose some transparency into what is basically a large black hole that is eating up a large part of our bailout funds."

Citations

Associated Press

google.com/hostednews/ap/article/ALeqM5gKpMFnJoJc8QkAW3abF41E4d492QD9GCEEC00

CNN Money.com

money.cnn.com/2010/06/16/news/fannie_freddie_delisting/

Wall Street Journal

online.wsj.com/article/SB10001424052748704198004575310443796994402.html?mod=rss_Today’s_Most_Popular

businessweek.com

businessweek.com/news/2010-06-16/fannie-freddie-plunge-after-moving-to-delist-shares-update2-.html

With low retail sales, the rising consumer confidence calms volatile stocks

Retail sales dropped in May, and the stock market dropped in step with data delivered by the Commerce Department retail sales report. The new normal is now stock market volatility. The stock market rose at the end of the day Thursday before reversing direction early Friday when the May retail sales report was released. A schizophrenic market then seesawed throughout the day as conflicted investors weighed the negative retail sales report with an unexpectedly positive analysis of consumer confidence.

Article Source: Low retail sales, rising consumer confidence calm volatile stocks

Retail sales in the commerce department

Retail sales didn't help the optimism of a late stock market rally on Thursday evening. It was reported by the New York Times that Wall Street indexes fell Friday morning after the Commerce Department reported that retail sales decreased 1.2 percent last month, the largest drop since last fall. Five of 13 retail sales figure categories in the super depressing report decreased with the largest drop in building materials at 9.3 percent. Excluding sales to commercial fleets (overall auto sales increased in May), retail auto sales were down 1.7 percent.

The stock market and volatility week

All three major indexes closed higher for the week despite all the stock market volatility. Stock prices dove in the last hour Monday (jobless report), rebounded Tuesday (reassuring words from the Federal Reserve), dove again Wednesday (political pressure on BP dividends) and bounced back Thursday (overseas economic reports). The Times reports that Friday's session, its volatility tempered by the good cop/bad cop consumer confidence and retail sales reports, made the difference for the somewhat happy ending.

Forecast beat by consumer confidence rate

A few hours after the May retail sales report sent investors out of stocks and into bonds, the Reuters/University of Michigan consumer sentiment index for early June came in higher than expected at 75.5, which is actually up from 73.6 at the end of May and better than the 74.5 economists had been expecting. It was reported by Forbes that the disparity between the retail sales and consumer confidence reports signifies that many Americans still feel that their personal finances are under stress while they see the overall economy to be on the mend and hope for better days ahead.

Silver lining of retail sales

A deeper analysis of the retail sales report may explain why consumers on Main Street feel better than traders on Wall Street. Frank Ahrens of the Washington Post points out that even though retail sales dropped 1.2 percent from April to May, compared with May 2009 retail sales were actually up 7 percent. Ahrens goes further and decides to say that when excluding negative numbers from bigger pieces of the pie taken by auto sales, building materials and gasoline (down 3.3 percent) overall retail sales actually rose 0.1 percent in May.

Read more on this topic here

New York Times
nytimes.com/2010/06/12/business/12markets.html?src=mv
Forbes
forbes.com/2010/06/11/briefing-markets-economy-bp-retail-sales-consumer-sentiment-oil-spill-google-financials.html?boxes=Homepagechannels
Frank Ahrens
voices.washingtonpost.com/economy-watch/2010/06/retail_sales_drop_but_consumer.html

Three tips for creating your own car-sharing group

Car sharing has been a popular way of helping drivers cut back on their driving. The reasons individuals choose to participate in car-sharing are varied – anything from cost-savings to reduced environmental impact. Unfortunately car sharing isn't accessible in all cities. Starting your own car-sharing program could be a legitimate option – but you will find certainly a couple of things to keep in mind.

Resource for this article: 3 tips for creating your own car-sharing group By Personal Money Store

1 – Who will own the automobile?

The first thing you should figure out is who’ll be responsible for the vehicle. Someone will have to be in charge of the money and maintenance of the automobile unless you start some kind of business out of it. There needs to be a basic contract that is signed by anyone sharing the vehicle.

2 – Insurance

No matter who is driving it, the insurance needs to cover the car. If the driving time is shared 30 to 40 percent of the time, check laws with your state to know what to do. You might not end up ever getting your money if there is an accident and also you haven't told your insurance company the car is regularly used by others. The other option is to ask all members of the car-sharing network to get their own “non-owner policy” or “broad form” policy – both of which cover only the driver.

3- The cost of sharing

One of the most difficult things is probably figuring out cost sharing amounts. The monthly payments, if the car is not paid for, should be kept separate from the operating costs of the car. You can split the monthly payment as a monthly fee of sharing the car. Also take into consideration operating costs. One option is to sit down and add the maintenance, fuel, and insurance costs for the car together. Divide that total by either the number of people sharing the car – or by the number of miles you are expecting to drive the car. Alternately, set a “per mile” rate for the car, intended to cover all the operating costs. The U.S. federal government sets the per-mile cost of automobile use at 50 cents per mile. The price will likely be around 50 cents and up to $1.

It will be worth it to figure out what will officially be the costs of sharing. Until ZipCar, Hertz Go, or some other car-sharing network makes it to your city, it could be a great way to reduce your cost and reduce your environmental impact.

Re-refined oil basics

All of us know that we are supposed to change the oil in our cars regularly, but other than natural or synthetic, most people don’t typically think about what oil goes in or comes out. Re-refined or re-processed oil is engine lubricant that is exactly what it sounds like — used oil that has been re-refined for reuse. Is re-refined oil safe for your car?

Source for this article: The basics of re-refined oil

The process of re-refining oil

Oil from petroleum doesn't wear out. It gets dirty instead. The additives that are in the oil do wear out, but the oil itself does not. When used motor oil is re-refined, it is put through much the very same process as crude oil. The oil is cleaned, refined and re-blended with additives to create a product that is comparable to lubricants created with crude oil.

Approve the re-manufactured oil first

You should take precautions before using it although it is safe. Make sure that the re-refined oil you or your mechanic are using is American Petroleum Institute approved. Typically API approved oil can be required. API approved oil has also undergone stringent testing requirements that make sure it does what it is supposed to. It needs to be API approved whether re-refined or not. If you use a mechanic, check with them that they are using API approved oil, re-refined or not.

Re-refined oil benefits

Re-refined motor oil has many benefits above and beyond lubricating your engine. Used motor oil is really a toxic waste, and is generally disposed of in a variety of not-so-environmentally-friendly ways. Re-refining oil helps to make a closed-loop system, where the nonrenewable resource of oil is regularly re-used. 2.5 quarts of re-refined oil is made with a gallon of used motor oil. The byproducts are used to power re-refining plants and create asphalt roof shingles. If all motor oil in the United States was re-refined, there would be enough recycled oil to maintain about 8 million vehicles each and every single year.

Because of credit reform, credit card offers are a lot more deceptive

Credit card reform does not mean consumers can relax and feel safe. Now individuals have to be wary more than they ever have before. The credit card reform act of 2009 is cutting into some of the a lot more underhanded credit card scams from numerous of the financial institutions. So now those establishments are trying much harder to sign people up for credit card debt than they ever have. And they’re looking for a lot more methods to make money with new fees and higher late fees. Credit card users have to read the fine print on their applications and read statements cautiously when they go to receive them.

Article Resource: With credit reform, credit card offers are getting more deceptive

Credit card offers

Credit card companies are hard to control. Even with a terrible economy, the credit card reform act of 2009 has credit card business marketing efforts going crazy. Synovate Mail Monitor reports that credit card spiels to U.S. households increased 29 percent during the first quarter of 2010. Some of the companies have doubled their efforts. Some of the largest ones are just predatory in the fees they come up with to charge customers a lot more.

Credit card scams

There are numerous creative credit card scams. Many say they price late fees for risk. But a new report from the Center for Responsible Lending shows that late fees have nothing to do with the credit card company’s potential loss. As outlined by the report, late fees aren’t pegged to the risk a borrower might default on their credit card debt. Instead, nine of the top 10 characteristics of credit card companies who charge high late fees are deceptive practices. One of these is paying a higher interest rate if there is a late fee. Another tactic is to set the payment deadline for early morning on the due date.

Credit card late fees and even a lot more than that

Just the beginning are credit card late fees. USA Today reports that other tricks to look at out for contain balance transfer fees, shorter introductory offer periods, and the fine print about annual fees on rewards cards.

Balance-transfer fees: Credit card companies offer percent introductory rates to transfer balances to a new card. The amount transferred is being charged around 5% with no cap. It could cost $ 1,000 to transfer $ 20,000.

There's also shorter introductory offers: Some credit card companies offer percent interest for up to 18 months, but a six months is becoming much a lot more common. The credit card reform bill will not allow credit card companies from offering introductory rates for under six months. Card holders must be realistic about whether they can pay down the balance before the offer expires. Any late payments will prompt the business to cancel the introductory rate.

Last there are annual fees: More rewards cards are coming with annual fees, especially airline credit cards. When using these companies, calculations can be a lot more difficult. The fee may be worth the ticket unless it takes you years to get it. No average traveler will get enough points. Then you will find the rewards cards that withhold rewards because of a late payment and demand a reinstatement fee to reclaim the rewards.

Credit cards make anything cost more

Credit card offers are exploding because of the credit card reform act of 2009. But an unhealthy economy and credit card debt are a bad mix. As outlined by Smartmoney.com, when the economy is struggling, the value of goods and services falls relative to the value of money. Individuals with many debt are put between a rock and a hard place. As the price of anything falls, so does their value. When a product is charged on a credit card, the ultimate price paid for it rises as the product loses value, and that does not contain interest.

Citations

Center for Responsible Lending

responsiblelending.org/credit-cards/research-analysis/a-just-fee-or-just-a-fee.html

USA Today

usatoday.com/money/perfi/columnist/block/2010-06-01-yourmoney01_ST_N.htm

Smartmoney.com

smartmoney.com/Personal-Finance/Debt/carry-credit-card-debt-watch-the-dollar/

Involved in the Google Caffeine release is web indexing that offers new content faster

Wednesday Google's new web indexing system named Caffeine went live. Announcing the global launch of Caffeine, Google explained that its evolving search engine technology makes even more freshly minted web content accessible and delivers that new material faster than before. Nobody will alter the way they use Google. But links to a broader range of relevant content are now presented much sooner after the content is published. The Caffeine overhaul of the web indexing technology also can be able to supply Google a lot more flexibility to keep pace with a web that is evolving at an accelerating rate.

Resource for this article: Google Caffeine launch – web indexing delivers new content faster By Personal Money Store

Speed isn't anything – Google Caffeine launch

Caffeine delivers 50 percent of freshwater search results. That characteristic alone may be hard to translate into a benefit for the average Google user. PCWorld tested an evaluation of web indexing systems when Caffeine was in development and discovered that results took .15 seconds on the regular Google search and .09 seconds on Caffeine. Since Caffeine is the regular Google search now, the test can't be repeated. And .06 seconds probably won’t make much of a difference for searchers, no matter how tight the deadline seems to be. However, what shows up .06 seconds faster will make a difference for individuals who work with content publishing.

Articles and other content publishing real time

The urgent benefit of the Google Caffeine launch to the average user is fresher content, and more of it. Google’s Matt Cutts told Search Engine Land that that “Caffeine benefits both searchers and content owners because it means that all content (and not just content deemed "real time") can be searchable within seconds after it is crawled." It was reported by Search Engine Land the old Google would crawl a set of pages, process those pages and add them to the index. Rather than one page at a time proceeding, the whole batch had to go at the same time. Now Google crawls and processes pages individually and instantly.

Substantial storage capacity – Caffeine

For Caffeine to eliminate the delay between when it finds a page and makes it available to the public demands an astronomical amount of storage. Carrie Grimes said Caffeine indexed website pages on an enormous scale on the official Google blog. Each second Google processes hundreds of thousands of webpages. 3 miles high each and every second is how much paper pages processed at that rate would make. Caffeine takes up nearly 100 million gigabytes of storage in a single database and adds new info at a rate of hundreds of thousands of gigabytes per day. You would have to have 625,000 of the largest iPods to store that much details; if these were stacked end-to-end they would go for a lot more than 40 miles. As outlined by PC World, the Apple bill would be $155,625,000.

Attempting to keep up with Caffeine

The Google Caffeine launch doesn’t change web looking content publishing. But some important details were pointed out by Resource Shelf. Information found one day may not be there if you go back to the very same location the next. Pages are being refreshed a lot more often and the cache is updated a lot more often also. If a searcher needs content on a page the way it looked at noon on Wednesday, it's a good idea to make a copy with something like Zotero, a Firefox extension because by 12:15 p.m. on Wednesday the content on the page might modify when the cache is updated.

Find more info on this topic

PC World

pcworld.com/article/198384/google_jolts_search_with_fresher_results_with_caffeine.html?tk=hp_blg

Searchengineland.com

searchengineland.com/googles-new-indexing-infrastructure-caffeine-now-live-43891?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed: searchengineland (Search Engine Land)&utm_content=Google Reader

Official Google Blog

googleblog.blogspot.com

Tire pressure for seasonal driving

When you are preparing your car for driving within the summer, you will find a wide range of systems you should check out. Tire pressure is often overlooked in this checklist, though. The tires on your automobile are where the rubber meets the road, so they are worth spending just a little bit of time on. Here are a couple of things to consider when thinking about your tires.

Article Resource: Getting ready for seasonal driving – Tire pressure

Checking your tire pressure

The basics of checking your tire pressure are, all things considered, fairly easy. Built-in tire pressure sensors do not actually measure pressure inside the tire, so you need to check it out on a regular basis. The rotation speed of the tires are probably the most common ways that built in tire pressure sensors read pressure. You need to check the pressure using a manual gauge on a regular basis – on all five of your tires. You need to have a look at the tire pressure when the tires are nevertheless cold.

Ensuring your tire is properly inflated

The driving conditions you are in can effect the proper tire pressure. The number printed on the tire sidewall is the maximum tire pressure. Temperature and driving conditions can change the pressure of your tires up or down by 10 pounds per square inch. Check your owner’s manual for the vehicle for the recommended tire pressure for car. When the temperature goes up, a tire that was inflated to maximum pressure in cold weather could expand and potentially explode.

Traction versus fuel efficiency

There are two major effects of the level of inflation of your car. A slightly under-inflated tire can give you a lot more traction on slippery roads. A properly inflated tire, nevertheless, can improve your fuel efficiency. Unless you live in an area where roads are very slippery in winter conditions, you should keep your tires inflated to the recommended level.

Latest jobs report is not as good as hoped

Fingers have been crossed, prayers offered and hands are wrung waiting for an increase in the number of jobs. The May jobs report did not live up to those expectations. That is not to say it was bad, but it was not as good as many were hoping, which caused a disturbance within the stock markets. Fewer than 50,000 non-farming private sector jobs were added, and also the biggest job growth over the last couple of months seems to be for the US Census.

Jobs report shows slower growth

The recently released May jobs report from the Department of Labor is not a forecast for the apocalypse. It would seem, though, the unemployment rate is going to be done in with attrition. According to Forbes, the May jobs report showed a gain of 431,000 total jobs. Most of them are seasonal. The US Census accounted for 411,000 of those jobs, so unemployment is going to go back up in June.

Private sector slumps

The private sector didn’t perform too well. Only 41,000 jobs were added overall in non-farming private sector jobs, which is down from 218,000 from the April jobs report. It looks like a slow climb, as those are the lowest numbers of jobs created given that January. On the plus side, however, the unemployment rate dropped to 9.7 percent from 9.9 percent the previous month.

Stock markets slide

This has not been a great month for the stock markets. The European debt crisis along with the slower job growth led to a dip for the Dow Jones and NASDAQ of 1.9 percent, and the S&P 500 lost 2 percent in trading, according to CNN Money. It may be longer than previously believed before true recovery has occurred.

Citations

Forbes

forbes.com/feeds/ap/2010/06/04/general-technology-hardware-amp-equipment-us-economy_7661383.html?boxes=Homepagetopnews

CNN Money

money.cnn.com/2010/06/04/markets/markets_newyork/

Collapse predicted by Arthur Laffer when Bush tax cuts expire in 2010

Arthur Laffer is making news by predicting the U.S. economy will collapse next year following the George W. Bush tax cuts expire in 2010. His theory on the Obama tax plan is based on how the super-rich can choose when and how they collect their income to evade having to pay their taxes. Laffer seems to think the economy is doing better this year than it should because these aristocrats are collecting a lot more of their loot and spending a lot more of their money before taxes rise. He says that when taxes go up, Americans who can will choose to make a lot less money, thus reducing the government's tax revenue.

Article Resource: Arthur Laffer predicts collapse when Bush tax cuts expire in 2010

Expired Bush tax cuts 2010

Arthur Laffer became very famous when he influenced the Reagan administration to cut taxes. His Laffer Curve regarding taxes appears in some of the economic textbooks. Laffer, in his Wall Street Journal column, said that Reagan tax cuts brought the economy out of what was the worst U.S. recession since the Depression — until the Mt. Everest recession we’re nevertheless trying to get out of now made that one look like a speed bump. He said when all of these tax cuts went into effect on Jan. 1, 1983 the economy took off like a rocket, with average real growth reaching 7.5 percent in 1983 and 5.5 percent in 1984. He doesn’t seem to explain at all how Bush tax cuts in 2001 and 2003 in the face of two wars eventually ran the U.S. economy into the ground and destroyed a spending budget surplus he inherited from Bill Clinton.

The Arthur Laffer curveball

The Laffer Curve tax cut argument misleads his readers, Asha Bangalore at Northern Trust reports. As an additional recession set in following the huge Reaganonomic era, Bangalore wonders why the economy posted substantial growth after tax increases were implemented by Bill Clinton in 1993. A revival of bank lending after the Reagan hangover led to self-sustained growth despite the tax increases. Bangalore also points out that if the Laffer Curve theory about tax cuts is really valid, then the U.S. economy would have done better than record the weakest period of economic expansion in history following the Bush tax cuts of 2001 and 2003.

Obama tax plan lower than Reagan’s

Arther Laffer’s predictions of economic collapse when tax cuts expire in 2010 is questioned by The Motely Fool as well. In his column Laffer says we’re all going to die when the highest federal personal income tax rate goes to 39.6 percent from 35 percent. The Fool says it is worth noting that the 1983 cuts Laffer remembers so fondly lowered top rates from 69.13 percent to 50 percent. Top marginal tax rates under all but one year of Ronald Regan’s presidency were a lot more than 50 percent. The Obama tax plan wants to revert the highest personal income tax rates to be somewhere around 39.6 percent, where they were within the ’90s when the economy boomed and the government collected more taxes than it spent.

Arther Laffer says he feels your pain

Arther Laffer, the chairman of an investment consulting firm and therefore is very wealthy, is making predictions of economic collapse from a very narrow point of view. Bangalore goes further to point out that all of the obstacles the economy will face in 2011 have little to do with tax increases. A severe credit crunch, lackluster job growth, and housing market challenges are factors that could have far greater influence on the economy. Most plan to keep their head up to survive. But when Arthur Laffer’s personal income tax rate goes up 5 percent, the millions he won’t pocket will seem like the end of the world indeed.

Citations

Wall Street Journal
online.wsj.com/article/SB10001424052748704113504575264513748386610.html?mod=WSJ_latestheadlines
Northern Trust
northerntrust.com/pws/jsp/display2.jsp?XML=pages/nt/0601/1138283678319_6.xml&TYPE=interior&er=dgcDetail&c=primary/resource/1006/1275944180574_442.xml
Motley Fool
caps.fool.com/Blogs/ViewPost.aspx?bpid=403124&t=01003534026331805883

Shrek glass recall sends parents scrambling

Children the world over know and love the cantankerous Hollywood ogre known as “Shrek,” but following the recent Shrek glass recall, kids may need to worry about the health standards of the denizens of Far, Far Away. Neither ogre ooze nor donkey drool are quite as disturbing as cadmium in the paint used on Shrek glasses which were part of a McDonald’s promotional tie-in with the new movie “Shrek Forever After”. Federal regulators found the toxic metal within the paint, and now a 12 million Shrek glass recall is underway, reports the LA Times.

Shrek glass recall – From $ 2 treat to verboten

The Shrek glass recall will affect McDonald’s restaurants across The United States, in the interests of child safety. Initiative to begin the Shrek glass recall started with California Congresswoman Jackie Speier of San Francisco. Interestingly, Rep. Speier received an anonymous tip regarding the Shrek glasses, so she called in the Consumer Product Safety Commission (CPSC) to test for possible cadmium contamination. Cadmium itself is a toxic metal that can cause kidney, lung, intestinal and bone damage. McDonald’s hasn’t revealed where the Shrek glasses came from and why cadmium was used.

The McDonald’s recall came after CPSC finds and subsequent pressure. Those who have already purchased the Shrek glasses are advised to keep them out of the reach of kids and return them to McDonald’s for a full refund.

Corporations ‘must do better’

McDonald’s and other corporate entities must pay a lot more attention to “thoroughly reviewing their domestic and international supply chains to keep products with potentially dangerous elements from ever hitting their shelves,” Speier told the Times concerning the Shrek glass recall.

Cadmium has been found in toys, jewelry before

Cadmium-tainted jewelry has prompted recalls at big-box stores like Wal-Mart before. Previously recalled discount children’s toys have also been found to be contaminated by the toxic metal. Such goods are generally cheaply made and don’t force a buyer to take out installment loan with no credit check. Legislation banning the use of cadmium has been championed by lawmakers like Rep. Speier, by the way. Now that the Shrek glass recall has the public’s attention, possibly McDonald’s will recall whoever was in charge of foisting poisoned cups on children.

Find a lot more details on this topic

latimes.com/news/nationworld/nation/la-na-mcdonalds-recall-20100604,0,1192411.story

en.wikipedia.org/wiki/Cadmium

Create a personal spending budget whenever you get short term cash advances

The best way to get one of the most out of short term credit is to create a personal spending budget. Nobody wants to be on a spending budget. But everybody has to be on one, regardless how much money they make. When short term cash advances or payroll loans become part of your financial strategy, controlling spending with a budget is the best way to make certain the money being borrowed is used within the best way.

Why would I make a personal budget?

Creating a personal spending budget involves working with all of the info available about your finances. It may sound elementary, but when you decide to get a payday loans no faxing, you have to know where your money is coming from, how much you’ve and where it all goes. People don't like seeing where their money is going which is why they keep away from budgeting.

Spending budget before you borrow any money

Making a personal budget isn't really that bad. The majority of the work is at the beginning. Once your finances are dialed in, tracking income and expenditures is pretty much automatic, if you stay on top of it. CNN reports that what may seem like drudgery gets spiced up by facing the reality of foolish spending habits . It might be better to learn on your own. Most of the foolish spending is quite common and fairly easy to eliminate.

Debt reduction with a personal budget

Get started making a personal budget by making a list of all of your regular monthly expenses, including everything you spend on fun things like eating out, entertainment and hobbies. It is extremely significant to contain minimum payments toward debts, including payment in full of personal payday loans at the end of their term. About.com says that you should never forget to build in money for debt reduction. Use software like Quicken or Microsoft Money to make it easier. These personal-finance programs have the built-in budget-making tools that can create your budget for you.

Settle emergencies with instant pay day loans

To see how much you’ve left at the end of the money, subtract expenditures from earnings. If your personal budget comes out on the negative side, go back over each expense, try to find places to make cuts, and determine where you are willing to make sacrifices to get out of debt. Your first priority should be debt reduction. Then you are able to start saving money to meet your financial goals, like retirement investments or an emergency fund.

Live by your personal budget

All the time you spend creating a personal budget could be wasted if you do not put your budget to work. You should try to live in your budget. Try it and see how it feels. See if your budget matches up at the end of the month. If things continue to be out of whack, consider small online payday loans while you figure out how you can work harder to control spending. You are likely to have to rework your personal spending budget to be a lot more realistic as far as how you actually spend your money. Keep crunching the numbers until you've made it right.

Personal budget tips:

Freefinancialadvice.net has some money saving tips for you:

• Stay away from using credit cards. If you are using them, pay them in full each month
• Consolidate at a better rate credit cards and student loans
• Get your mortgage refinanced at a lower rate
• Shop with coupons – try coupons.com
• Buy generic or non name brand merchandise
• Quit smoking
• Try not to compare yourself to everyone else

Citations

money.cnn.com/magazines/moneymag/money101/lesson2/
CNN reports
frugalliving.about.com/od/frugalliving101/ht/Frugal_Budget.htm
About.com
free-financial-advice.net/save-money.html
Freefinancialadvice.net

Danielle Staub sextape video set for June 14 release

One of the “Real Housewives of New Jersey,” Danielle Staub has gotten some real drama. The Danielle Staub sextape video, subject of multiple lawsuits, is set for release. Hustler has told TMZ that it plans to release the Danielle Staub sextape video on June 14 of this year. Is this a story of a “Real Housewife” needing money, or is it about an ex-boyfriend’s revenge?

Resource for this article: Danielle Staub sextape video set for June 14 release

Danielle Staub sextape video litigations

Almost a year ago, the Danielle Staub sextape was the subject of protracted litigation in the New Jersey State Superior Court. Danielle Staub sued her ex-boyfriend Stephen Zalewski to try really hard to prevent the release of “sexually explicit videotape and images .” Staub says the sextape video was made without her knowledge. On June 23, 2009, a judge granted Danielle Staub’s request to block release of any sextape video.

The story behind the Danielle Staub sextape video

The Danielle Staub sextape video that Hustler has reported will likely be releasing was reportedly filmed in September of 2009. This means that the drama on “Real Housewives of New Jersey” about Stephen Zalewski secretly filming his sexual encounters with Danielle was not about this particular tape. The Danielle Staub sex tape reportedly features a “mystery man” that has not been spotted on the “Real Housewives of New Jersey.”

The release of the Danielle Staub video tape

Hustler, Inc., explained that it will release the 75-minute Danielle Staub sextape video on June 14. Danielle Staub representatives have yet to comment. However, if sales of past “celebrity” sextape videos are any indication of future sales, the “Real Housewife” could stand to make a relatively large amount of money off this tape. Depending on the details of the contract with Hustler, Danielle Staub’s sextape video could very easily net her in the neighborhood of $1 million. Ex-boyfriend Stephen Zalewski has confirmed that he has not distributed any of the video tapes in his possession. This means that either Danielle sold the tape or a "Mystery Man" that she decided not to sue has sold the tape. With rumors of financial ruin that are surrounding Danielle Staub, it would not be unheard of if the previous call girl and con artist offered the videotape for sale herself.

Third Golden Girl passes away – Rue McClanahan death

In a New York City hospital at 1 am, Rue McClanahan died. “The Golden Girls” star suffered from a massive stroke. The news of Rue McClanahan’s death comes after a number of medical incidents.

Article Resource: Rue McClanahan Death – Third Golden Girl passes away

The death of Rue McClanahan
Thursday morning, the death of Rue McClanahan was announced. At the time of her death, the woman had her family with her. She had this stroke while recovering from a triple bypass surgery. This follows a minor stroke that occurred a few months ago. Rue also survived breast cancer in 1997.

Rue McClanahan acts as Blanche Devereaux

While Rue McClanahan had a 50-year career, she was best known for her “Golden Girls” role. Rue McClanahan’s death leaves just one “Golden Girl” nevertheless living, Betty White. When playing Blanche Devereaux, Rue McClanahan acted as an “oversexed, self-involved, man-crazy, vein Southern Belle.” Rue received an Emmy award for her portrayal of Blanche Devereaux. Rue McClanahan also stars in “The Love Boat,” “Law and Order,” “Starship Troopers” and “Maude.”

Rue McClanahan and her life

The news of Rue's death has hit a lot of people hard. Rue was active in more than her career in her lifetime. She also was a vegetarian in support of PETA. Rue McClanahan got her start in acting on the stage. In 1970, she was awarded an Obie. After “Golden Girls” had ended in 1992, Rue McClanahan returned to the stage in “Wicked.” Rue McClanahan is survived by her husband, Morrow Wilson, and her son, Mark Bish. Rue McClanahan’s previous husbands included Norman Hartweg, Peter D’Maio, Tom Bish, Gus Fisher and Tom Keel. Rue also authored a book with the title “My Five Husbands And also the One Who Got Away.”

Get Apple WWDC 2010 live stream info – New iPhone

Monday June 7th was the start of the Apple World Wide Developer Conference. There are wide expectations that the WWDC 2010 live stream will contain an announcement of the new iPhone. This new iPhone may be called the iPhone HD or iPhone 4G, but either way, the Apple WWDC is sure to garner attention.

Article Source: New iPhone – Get Apple WWDC 2010 live stream info

New iPhone intended to be announced at Apple WWDC 2010 live stream

Apple has used the WWDC to introduce a new iPhone in the last few years. With the recent Gizmodo coverage of a new iPhone – a possible iPhone HD or iPhone 4G — that was found in a California bar, expectations are high. There are a couple of new iPhone features that have been confirmed for certain yet, but Steve Jobs will likely lay out each and every feature of the new iPhone during the Apple WWDC 2010 keynote speech.

Follow the Apple WWDC 2010 live stream

Steve Jobs’ Apple WWDC keynote speech is scheduled to start at 10 a.m. Pacific Time Monday, June 7. There could be quite a bit of tech bloggers and journalists providing an Apple WWDC 2010 live steam. Some of the best places to find the Apple WWDC 2010 live stream and possibly get data on the new iPhone, if it is announced, contain:

• Engadget WWDC 2010 live stream blog
• engadget.com/2010/06/07/steve-jobs-live-from-wwdc-2010/
• CNet News WWDC 2010 live stream
• news.cnet.com/8301-31021_3-20006866-260.html
• Mac Rumors Live WWDC 2010 live Twitter
• twitter.com/macrumorslive

What else will WWDC 2010 announce?

Much a lot more than just an iPhone can be talked about at the Apple WWDC. Subtitled “the center of the app universe,” WWDC 2010 is set to have many large announcements. Likely the new iPhone operating system will be announced. The iPad may have an upgrade coming. A new iPhone release date could be given to the masses. To sum it up, , also as tech geeks around the world, could have plenty to be anxious about. All the exact same, unsigned applications and other non-Apple-approved applications will continue to be blocked from products running the iPhone OS.

Will the new iPhone release date break with tradition?

Generally, the announcement of a new iPhone follows a period of waiting for it to be officially released. However, there are signs that point to the iPhone 4G being released along with the Apple WWDC announcement. For the last few months, AT and T has pushed upgrade eligibility forward as much as five months, with an iPhone upgrade option.

AT and T data plan for new iPhone

There is no longer an unlimited data plan for users of AT and T anymore. Instead, AT and T is introducing a two-tier data plan. The top tier will let users of the new iPhone download just 2GB of data per month and cost an additional $10 per gigabyte of data. While 2GB would be plenty for most users, anybody who streams TV or radio on their new iPhone will easily find themselves bumping up against the limit. The new pricing plan will save AT ant T iPhone users money. Unless a Verizon iPhone comes out with some kind of unlimited plan, though (which probably will not happen for a few years if at all), then the new applications for the iPhone will quickly end up costing users even more.

Build a good credit score and start credit repair- pay day loans

A good credit score is a major quality of life issue for everybody. Building good credit or fixing a bad credit score is not complicated. It is just a two way process. First you have to pay your bills on time. Borrow money and pay it back secondly. A paydayloans could be something to help you with this. With good credit preserved through wise pay day use, a person can get much better deals, it’s easier for them to get apartments and most importantly, it's easier to get hired for a better job when the employer sees a good credit score.

Source for this article: Paydayloans – build a good credit score and start credit repair By Personal Money Store

Credit built by Monday loans

Loan until payday effect a good credit score. In the current economic climate, banks are very reluctant to make loan until payday and can’t be considered a reliable source of borrowing for most people. A good choice is responsible credit card use. Use is frequently. But check the fine print on any credit card offer and only choose one with no annual fee and a low interest rate. Don’t ever keep a balance on the card. Paying off the entire balance every month avoids interest charges and shows good personal financial management.

I need fast cash

Building a good credit score by paying all of your rent, utility bills and credit card balances on time always works perfectly on paper. However, real life like to surprise you with unexpected expenditures sometimes. The car could die. You might have a child get hurt. A toothache and now a root canal. So now what? A late credit card payment could cost you many additional fees. If the check written to make that credit card payment on time bounces, the bank will come back with an outrageous NSF (non-sufficient funds) fee.

Some very same day payroll loans

In emergencies, guarding a good credit score might call for getting a payday loan. Payday lenders provide a valuable service and are reasonable when compared to default fees of mainstream lenders. A $100 payday advance often comes with a $15 fee. Compare that with a $100 bounced check with $48 NSF fee. A pay day loan can avoid that bounced check fee and the credit report damage that comes with it. And to add to that, your credit score will do well because you will have borrowed and paid back.

Secured loans with no credit check

Getting instant online payday loans is the best way to protect a good credit score in an emergency. Hundreds of direct payday loan company competing to make pay day loan could be found online. A 10 minute application that is easy leads to cash the next day. Extra cash advance firms never conduct credit checks. The money must be paid back by the end of the term. A payday loan is just one more problem if it is not paid back in time.

Discover a lot more data on this topic

Annualcreditreport.com
annualcreditreport.com/cra/index.jsp

Gaza blockade 2010 by Free Gaza Flotilla a PR victory for Hamas

The Gaza Blockade, a very important aspect of the Israeli/Palestinian conflict, was began about 3 years ago by Israel and Egypt to contain Hamas, the militant Palestinian group that controls Gaza. The Israeli raid on the Free Gaza Flotilla that happened last week has refocused international attention on the Israeli/Palestinian conflict and Gaza’s isolation. There are international leaders questioning reasons for continuing the blockade. Critics call the Gaza Blockade a strategy of inhumane oppression. Those in support say the blockade is essential to prevent rocket attacks by Hamas on Israeli soil.

Resource for this article: Gaza blockade 2010 by Free Gaza Flotilla a PR victory for Hamas

Israeli raid investigation wanted by UN

The United Nations, European leaders and others harshly criticized Israel after its commandos stormed six ships in international waters. There were about 700 activists were trying to break the Gaza Blockade by bringing in 10,000 tons of aid. It was reported by Voice of The US that U.N. Secretary-General Ban Ki-moon said the violence aboard the Turkish ship could are avoided if Israel had heeded earlier calls to lift the Gaza Blockade, which has prevented essential goods from reaching Gaza’s 1.5 million residents. Ban explained that he is considering an investigation into the Israeli raid that resulted in the deaths of nine pro-Palestinian activists.

Israel stands by Gaza Blockade

Israel says that it allows more than enough food, medicine and supplies into Gaza and opposes any independent investigation of the attack on the Gaza Freedom Flotilla. The Associated Press reports that Israel also rejects claims that Gaza is within the midst of a humanitarian crisis. Israeli Prime Minister Benjamin Netanyahu said in an address to his nation the aim of the flotilla was to break the blockade, not to bring aid to Gaza. ”This was not the ‘Love Boat’,” Netanyahu explained, “It was a hate boat.” Israel says its soldiers were acting in self-defense because there were passengers that attacked them when the commandos rappelled onto the ship from helicopters.

Hamas wins by losing

The attack on the Free Gaza Flotilla is seeming to be the latest public relations coup for militant organizations dedicated to antagonizing Israel. In 2006 Hezbollah scored a huge victory over Israel merely by surviving an onslaught it sought to provoke in southern Lebanon that devastated the countryside. Hamas, which regularly terrorizes Israel with rocket attacks that come from Gaza, seems to escape international rebuke for that misbehavior. Meantime, Israel finds itself in lose-lose situations when it claims to be defending itself. Netanyahu has warned that if the blockade ends, hundreds of ships will bring in thousands of missiles from Iran to be aimed at Israel.

Gifts given to enemies by Israel

The situation that was actually created by the Gaza Blockade and the Free Gaza Flotilla creates a geopolitical Rubik’s Cube for the United States. America’s relationships in the Middle East may have to be reset to a shifting balance of power that now sees Turkey — a non-Arab country who gained massive Middle East street cred by sanctioning the blockade — as the linchpin. Israel is the loser. Hamas is the only winner. It was reported by the Carnegie Endowment for International Peace the U.S., Egypt and even the Palestinian Authority had been betting on the weakening and eventual demise of Hamas. But now, Hamas can operate from a position of strength, ironically, because of Israel.

Texting when driving is not so easy to pass on state level

When New York Senator Charles Schumer introduced legislation that would effectively ban texting when driving, it seemed like an clear choice. However, getting similar laws going on the state level has proven difficult. How can this be possible in light of what CNN recently revealed about how eight out of 10 auto wrecks come from distracted driving? Apparently, state governors appear to be hung up on loopholes in the language of the legislation.

Article Source: Texting when driving legislation hits snags at state level

Texting when driving isn’t what’s holding them back

Numerous United States are having trouble making a texting while driving ban work. Georgia is one of those. According to the Atlanta Journal-Constitution, Governor Sonny Perdue is wary of difficulties of enforcement resulting from the chosen language. The difficulty in this case has much to do with language banning “the reading of any text-based communication” while driving. In addition, Gov. Perdue suggests what numerous other state governors have been thinking, the laws won’t necessarily change the behavior when it’s quite easy for drivers to get the instant gratification of texting while driving.

”If I get my e-mails and I pick up a smart-phone and read my e-mails,” asserted Perdue, “I’m violating the law. But if I print out my E-mails and I have a sheet of paper driving (and look at it), then I haven’t violated the law”.

Instant gratification is tough to resist

Using Perdue’s logic, perhaps all distracted driving should be against the law. Supporting that position shouldn’t be a tough sell. If stringent texting when driving laws go into effect, won’t each ounce of prevention be worthwhile? The AJC indicates that texting while driving causes 1.6 million accidents each year, which contains 500,000-plus injuries and 6,000 deaths. In addition, texting while driving has been shown to be 3 times a lot more dangerous than driving drunk, as focusing on a phone needs concentration. The AJC also reports that accidents are 23 times a lot more likely to occur when texting when driving is involved. Those are sobering numbers; people should resist the call and pull over before they play with their phones.

Auto Week and Oprah are on board

Auto Week has a highly motivated campaign against texting when driving. “We know what a car can do – artistically and brutally at speed,” writes Auto Week. ”As car guys we must be on the front lines to carry the message, willing to share with everyone we learn about the dangers of distracted driving. We must tell everybody to stop texting when driving. We are selfish that way. Because we want them to live”. Along similar lines, Oprah Winfrey’s “No Phone Zone” national campaign has garnered hundreds of thousands of petition signers.

America, do not text and drive

Gov. Perdue should sign the anti-texting while driving bill to conserve lives, even if it’s not perfect. For additional info on texting when driving laws in place, see the Governors Highway Safety Association link below.

Additional data at these websites

blogs.ajc.com/get-schooled-blog/2010/06/03/advocates-make-last-minute-appeal-to-the-governor-to-sign-texting-while-driving-ban/?cxntfid=blogs_get_schooled_blog

autoweek.com/files/distracteddriving/distracteddriving.html

ghsa.org/html/stateinfo/laws/cellphone_laws.html

Mariners say goodbye as Ken Griffey Jr retires

An era comes to a close, as Ken Griffey Jr has announced his retirement on June 2, 2010, right before a game against the Twins. It was a sudden decision, and Griffey caught many unaware with the announcement. The decision seems to have been on his mind for a while, and he would rather call it a day early than remain on the team for the sake of nostalgia. Griffey's achievements are substantial to say the least. As the fifth all time home run hitter, he is in rarefied air as a player.

Source for this article: Ken Griffey Jr retires from Mariners, baseball By Personal Money Store

21 year career brought to a close as Ken Griffey Jr retires

There aren’t numerous sportsmen who are held within the esteem Ken Griffey Jr is. The Mariners and Ken Griffey Jr are about as inseparable in the minds of fans as Babe Ruth and the New York Yankees are. He debuted professionally in 1989 and along with his father, Ken Griffey Sr, were the only father and son to play for the same team at the very same time. He proved worth the investment of quick cash loans, as he was a prolific player on both sides of the ball. He won the Golden Glove from the American League 10 times and hit nearly 400 home runs in his original stint with Seattle.

The Kid departs from the Emerald City

Family was always the biggest priority for Griffey, and by 1999, wanted to move closer to them. The Cincinnati Reds traded for him, and ironically, it was the Reds who his father played for and won two World Series with. He was plagued by injuries, even though he was incredibly productive when fit. Half way through the 2008 season, Griffey was traded to the White Sox. After the end of that season, he entered free agency, and wild speculation began that he may return to the Mariners.

The return of the prodigal son

Returning in 2009, he hit 19 home runs in the 2009 season. However, the 2010 season was not going well for him, as he had no runs and few at bats. He was listed on the reserve for the game against the Twins, as outlined by the Seattle Times. Just before the game began, a quick press conference was called and also the announcement was made. He had said that his retirement would be swift and that he would "never allow myself to become a distraction." Griffey knew it was time to call the game.

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Seattle Times

seattletimes.nwsource.com/html/mariners/2012015906_griffey03.html