Ellen O.: July 2010

Saturday, July 31, 2010

Mortgage rates so low make people consider refinancing

Mortgage rates so low make individuals consider refinancing

Just since the mortgage rates are at record lows right now doesn’t mean that the U.S. housing market is getting any better. As the real estate market is so slow, and mortgage rates have gone down considerably, most are more able to find opportunities in the market. Having a lower interest rate will helps many be willing to take that step of losing some money to hopefully do better in the long run. People are taking a loss on their current homes, trading up and coming out ahead. Others are learning that spending their own cash to refinance mortgages is one of the safest investments to make these days.

Mortgage rates and also the housing market

You’ll end up with a lot more money if you listen to the economists within the Wall Street Journal who suggest trading up homes or refinancing your home you’ve now. Better homes are accessible to anybody who’s willing to make the sacrifice with their mortgage. And with mortgage rates so low these buyers can keep their monthly payments manageable, although the new homes are more expensive.

Cash in or cash out

Typically, people refinance to “cash out” some of the equity they’ve built up in their homes over the years so they can use the cash. Oddly enough, more people are interested in “cash-in” refinancing, as outlined by the Los Angeles Times. With savings accounts and other investments yielding little or nothing in profits these days, it makes sense to move that cash into a home, especially if it knocks a point or two off the mortgage rate. In 2009’s fourth quarter, a 3rd of everyone who refinanced their mortgages put money into it so their principal was lowered drastically.

Smart real estate investing

Numerous want their mortgages to be gone. Totalmortgage.com looks at it as all the money saved is really money that is now earned and can be spent. One who pays off their mortgage as soon as possible is then more likely to have some additional money laying around to spend on other things or other investments. Real estate investing like that is a breath of the outdoors these days. Other borrowers are taking advantage of record-low mortgage rates to refinance from 30-year fixed mortgages into shorter-term mortgages (15 or 20 year fixed). Doing this, one can conserve thousands of dollars and will even have lower monthly payments a lot of the time.

Friday, July 30, 2010

Chocomize - Custom chocolate with a charitable twist

Chocomize, a company based upon in Cherry Hill, N.J., is the latest in build-your-own tastiness. Chocomizing means choosing chocolate and mix-ins, and having it delivered to your door in days. Article source – Chocomize – Custom chocolate with a charitable twist by Personal Money Store.

How Chocomize appeals

Chocomize has a basic but brilliant concept. There are 3 choices of chocolate and one hundred mix-ins. For example, if you need a cherry bacon white chocolate bar, you are able to get it. In short, Chocomize is appealing because you are able to customize whatever treat you would like. If you want custom chocolate for an event Chocomize can deliver on that too. To top it all off, 1 percent of the price of Chocomize products goes to your choice of charity.

The Chocomize move

Chocomize is just the latest in customized food products. Companies that specialize in sodas, ice creams and multiple other foods have started customizing orders. Handmade arts and crafts are increasing the popularity of customization. This so-called “Makers Movement” is already adding up to over $ 1 billion a year in sales. You can expand this ideal to chocolate bars with the Chocomize $ 4 – per -bar candy.

Make your own Chocomize bar

If you want candy that looks entirely professional, Chocomize can be worth the cost. You are able to try customized chocolate at home for much less expensive, though. Go to a restaurant supply store or grocery store and purchase “melting chocolate” or chocolate chips and mix-ins. Use a crockpot set on low or a double-boiler to melt the chocolate. Add the mix-ins, and pour the whole kit and caboodle into a wax paper lined pan. To be additional fancy, use a candy mold at a restaurant supply store. With less waiting and a quarter the cost, you are able to give yourself a truly tasty Chocomize experience.

Thursday, July 29, 2010

72-month auto loans bad credit now part of the list

It is a good idea to try and get financing before looking at new cars. How long should your auto car loans be? Three-, five- and six-year loans are probably the most common possibilities accessible, and once upon a time, the latter option was popular. Studies for the automotive industry indicate the six year, or 72 month, loan is beginning to disappear though.

Drawbacks to the six year auto loans for bad credit

Yahoo Answers suggests looking at how long you plan on keeping the car before deciding how long you need a loan to take you to pay off. Typically the turnaround rate for cars is about 3 years making a 72 month automobile loans ridiculous. An upside down loan, where more is owed than the vehicle is worth, is a distinct possibility here. The 72 month auto loan only makes sense if you’re keeping the car for at least five years. Cars Direct reminds us that if the loan has simple interest, you can still pay down the principal balance easily, effectively reducing the terms of the loan and the amount of interest you’ll pay.

Failure of credit unions

The 72-month auto loan was a flagship auto finance product for many credit unions, reports Automotive News. They promoted the loans aggressively in order to compete with zero-percent financing packages being offered by auto manufacturers. The Kelley Blue Book (KBB) shows us the 72 month auto loan is no longer receiving business. 36 month loans are the third most popular; 48 month loans are the second most popular; 60 month loans are the most popular in the U.S. now. The KBB says the 72 month auto loan isn’t used anymore because of the recession. More individuals use the thought of a larger down payment with a more affordable car. Dealers are losing money, but consumers are getting some great trade equity.

Monday, July 26, 2010

Putting together the internet and your car

It may seem like an extraneous idea, but both Subaru and Ford are connecting their automobiles to the Internet. The 2011 Subaru Outback may have a built-in Wi-Fi option. Ford test-drove an “automatic tweeting” vehicle codenamed AJ. Driving habits could be something that car makers hope individuals will want as part of their connected lifestyle. Post resource – Connecting your car with the Internet by Car Deal Expert.

Subaru Wi-Fi connections possible

The 2011 Subaru Outback will have the option of Wi-Fi connection if you are interested. You are able to connect with the internet as long as you stay within 150 feet of the car. Setup is $499 with a $35 activation fee. $29 a month is the one year subscription fee. The cost might seem just a little bit too much for simple internet service. Money might really be saved though when considering data plans that are costly through carriers but allow smartphone users to make phone calls through Wi-Fi.

Twitter automatic

A team from Ford test drove a 2011 Ford Fiesta code-named AJ in May. The car’s computer information was tweeted automatically by AJ. Sample tweets involved “time to put the headlights on.”. Using the internet, GPS data and traffic details is put onto Twitter in these tweets. The team tested check in functions with FourSquare as well. Although these features won’t be standard next year, in 2012, it may be just that.

Are connected cars a good idea?

Numerous want to know if it is even a good idea to connect cars with all the excitement around it. There could be car viruses with this connection to the internet. There are also privacy concerns with cars automatically broadcasting where they are and what their drivers are up to. The internet-connected car can be like everything else, abused by some but useful to most.

Tempe Town Lake dam blows, blasts away homeless

It was to have lasted a quarter of a century or more, that Tempe Town Lake dam. The inflatable rubber dam created Town Lake for the city of Tempe, Arizona, a tourist destination and point of civic pride for residents. But one wonders what Tempe thinks about one of the 11-year-old dam pillows having blown, as the Associated Press reports. Thanks to the blowout, Tempe Town Lake will lose thousands of gallons of water (as much as three-quarters of the man-made lake) to the dry bed of the Salt River, where the homeless tend to live during the summer.

No injury reports at Tempe Town Lake

Media reports have revealed nothing concerning any injuries at Tempe Town Lake, and also the flood waters haven’t caused significant property damage as yet. Area residents said they heard a loud “ka-boom” and felt the ground shake near Arizona State University. Seconds afterward, witnesses saw animals fleeing the scene. After various minutes, safety alarms began to sound. It is unclear at this time if homeless persons within the Salt River bed heard the warning or not.

One billion gallons, flowing out at 15,000 cubic feet per second

That’s the flow at Tempe Town Lake, says Mayor Hugh Hallman. As far back as 2007, experts reportedly knew the Arizona climate was wreaking havoc with the structural integrity of the rubber dam. But nothing was done. Two years later, engineers advised Tempe government to act, to no effect.

Wither the people without homes?

While the alarm was sounded, currents reports are unclear as to what affect the Tempe Town Lake dam explosion had on the transient population. This could all just be mechanical failure and bureaucratic inaction. But if the fiscal angle is taken through the lens of the cost of homelessness, other possibilities emerge. Various media sources indicate that chronic homelessness costs the United States $ 10.95 billion each year in public funds. If such individuals were given permanent homes, Forbes reports that that expense would drop to $ 7.88 billion.

There will be residency

Tempe’s home country of Maricopa County has 8,000 homeless people daily, reports AZCentral.com. If those 8,000 people – only some of whom may live within the Salt River area near Tempe Town Lake – had homes, not only would the nation be saving money, but Maricopa County would reportedly save as much as 50 percent on emergency resources. Tempe Town Lake and an exploding rubber dam may sound like comedy, but the possible impact on the homeless – even for the better, if they’re forced into housing – could provide something truly positive .

Sources

philly.com/philly/wires/ap/news/nation/20100721_ap_rubberizeddambreaksatmanmadearizonalake.html

azcentral.com/community/tempe/articles/2010/06/11/20100611tempe-homeless-outreach-united-way.html

forbes.com/2006/08/25/us-homeless-aid-cx_np_0828oxford.html

Sams Club will begin offering online loans

Sam’s Club, a division of Wal-Mart, will start offering online loans through Superior Financial Group LLC. The loans will be for entrepreneurs to start small businesses. Superior Financial Group is one of the leading Small company Administration loan lenders, and it has partnered up with Sam’s Club on a trial basis to expand services that extend to small business owners that are members of the warehouse retail wing of the Wal-Mart empire.

Wal-Mart finally into banking

This is not Wal-Mart’s first attempt at a foray into banking. In 2007, Congress blocked non-banking entities, including retailers, from opening banks of their own. According to the Wall Street Journal, Sam’s Club has been losing revenue but has decided to give this online loan pilot program a chance. The loans carry a 7.5 percent interest rate for ten years, and small companies or small business owners can apply for $ 5,000 to $ 25,000 if they’re Sam’s Club members.

Boosting membership base

Sam’s Club has not been performing well as of late. The Costco competitor had to shutter 10 stores recently. The program would offer more services to small business customers, who make up a significant part of their customer base. Wal-Mart already offers some financial services, like check cashing and VISA check cards, also as MoneyGram locations in stores that offer cash advances, payday loans, and money orders.

Is this the start of a beautiful friendship?

The Sam’s Club online payday loans will only be a pilot program. The loans, according to Business Week, will mostly be offered to women, minorities, and start up companies. It will be quite difficult to pass up a Sam’s Club membership for business owners if it takes off.

Saturday, July 24, 2010

Recession cutback city - Even the rich people are doing it!

While the economy still needs stimulating quite a bit, those well off have been doing many of the spending to help. Even those who have a lot of money have quit spending money casually, reports the New York Times. The Federal Reserve said the economy in The United States is dying down. If conditions worsen, experts believe that one more stimulus may be necessary.

Jobs created when the rich spend

Spending by the top 5 percent of income earners in the US is needed to give demand for new jobs. “One-third of consumer outlays, including spending on goods and services, interest payments on consumer debt and cash gifts,” is what, as outlined by Moody’s, that 5% account for, particularly those who earn more than $ 210,000 a year. That one third is essential since consumer spending is 60 percent of the economy. Gallup found that those earning $ 90,000 or more – their “upper income” classification – spent $ 145 per day in May 2010.

In May 2009, it was 33 percent less than that. The numbers dropped in June 2010 the Times discovered. Rich people decided to drop the number to $ 119 per day. Were they leaning upon bank loans more than was their custom?

Losing business are luxury businesses

Early in 2010, luxury business showed strong numbers. As summer set in, reservations at hotels like the Four Seasons and Ritz Carlton fell. At the exact same time, retailers there just for luxury, such as Neiman Marcus and Saks Fifth Avenue, dropped in sales as well. Rich individuals are spending less and getting less Real Estate in Manhattan and the Hamptons. It was expected that spending would slow down with the recession since normal spending would cease for a moment, but we know there’s a significant problem with even the individuals with money have nothing left to spend.

Following where the Dow takes you

When it comes to deciding how the economy is doing, wealthy people consider different things than the average person. The Dow Jones is going to mean a lot to those who are invested than everyone else. The psychological affect happened right following the numbers got back to 10,000 after being within the 7,000s for so long. Spending rose in all avenues, including car sales. Luxury vehicle dealers did well, but of late, some luxury auto dealers have enacted layoffs of 15 percent of more of sales staff. Even for those rich people who can still afford to spend, the psychological impact of looking like a glutton when the majority of the country pinches its pennies keeps them from spending more, as outlined by studies by the Institute for Policy Studies in Washington.

Economic apocalypse on the rise?

It might be that “apocalypse” casts too dark a pall, but consider this. A skin care product saleswoman named Linda Stasiak explained the $ 15.95 tube wringer has top sales. It’s designed to squeeze each and every drop out of a tube – because today, even rich people are feeling the squeeze. Does everyone need a fast loan for their tube squeezers?

Citations

New York Times
nytimes.com/2010/07/17/business/economy/17consumers.html?_r=1
Has the recession changed our perception of wealth?
youtube.com/watch?v=aCsIoHMxazs

Friday, July 23, 2010

Failed try to smuggle Titi monkeys through Mexico City

A man was found within the Mexico City International Airport with 18 Titi monkeys strapped around his torso. Much like other endangered species, Titi monkeys are traded on the black market for high profit. The smuggler was discovered and arrested by the airport police. The smuggler, Roberto Zavaleta Sol Cabrera, stood to make over $ 27,000 in profit if he had sold the monkeys. Source for this article – Man tries to smuggle Titi monkeys through Mexico City airport by Personal Money Store.

Titi monkeys smuggled through airport

In the Mexico City International Airport, airport police spotted a man who looked “very nervous.” It appeared that Roberto Zavaleta Sol Cabrera was attempting to conceal a “large lump in the jumpsuit.” This raised the curiosity of police, and they discovered 18 Titi monkeys under his clothes. Two of the monkeys that had been stuffed into socks had already died. Roberto claimed that he had transported the monkeys this way to “protect them from the x-ray scanners.”

Info to learn about the Titi monkey

Native to South America, the Titi monkey is actually a family of small primates. The 10 to 22 inch monkeys are known for their long, soft fur. Territorial and familial, the monkeys eat fruits, leaves, flowers, insects, bird eggs and other small creatures. The Titi monkey is a protected species under the Convention on International Trade in Endangered Species of Wild Fauna and Flora. The Mexico government also heavily restricts the import of monkeys. The trade in primates as pets is big in Mexico, despite these restrictions.

Profit for black market animals is big

There is a thriving trade in banned or limited animals in numerous countries. The Titi monkeys were purchased for $ 30 apiece by the smuggler. If Roberto had sold the monkeys in Mexico City, they would have been worth $ 1,550 each. Had any of the monkeys been sold in the United States, they may have sold for $ 3,000 or more. Black market trading in animals could be incredibly dangerous to the animals and the pet buyers.

Senate Ethics Committee investigates VIP loans

Many of those in Washington DC are concerned about the ethics of VIP cash loans their staff has. Bank of The US bought all of these “Sweetheart” or “VIP” loans that Countrywide made. These VIP cash advances may end up causing ethical or legal problems for a couple of senators.

Countrywide creates VIP loans

In documents recently released by Bank of The United States, it was revealed that Countrywide wrote a huge number of “sweetheart” loans. No credit check was done when giving out the low rate of interest loans, and they were targeted towards Senate staff. Issa, Republican senator, feels like these loans might cause some kind of ethical problem considering a “high concentration” of them were given to staff of those in DC. Numerous believe that Countrywide was trying to get what they want out of Senators by writing these loans. 2002 and 2003 were the years the loans had made.

Ethics being tied to loans

Senator Issa filed the ethics complaints against a number of senators. The Ethics committee “scolded” Senator Dodd and Senator Conrad for these complaints. These two senators were told to “be more careful to stay away from the appearance of favoritism from Countrywide.” Both senators were cleared after this scolding. One of the most recent ethics complaint being made blames Senator Robert Bennett. Twelve of the 30 named “VIP loans” went to members of his staff.

Loan recipients names

The investigation on Countrywide VIP cheap loans is being done by an Oversight and Government Reform committee from the Senate. Bank of America has to give the government all documents involving VIP loans that they have included anything that has “US Senate” written down as their employer. Anything received from Countrywide was already given to the government by Bank of American and 37,000 documents are what they have received so far. If the loan recipients are actually named, it could possibly be a severe issue in upcoming elections.

Senator Burnett gives statement

Republican Senator Burnett, who’s not running for re-election, has responded in detail to the ethics complaint filed against him. In short, Senator Burnett said that he does not make it a point to discover out where his staffers do their banking. Mortgages and unsecured loans, he said, are personal matters that he did not specifically ask his employees about.

Thursday, July 22, 2010

Wednesday, July 21, 2010

So you need mpg? King Midget is the answer!

Congested highways filled with gas-guzzling automobiles have helped create dirty air and countless budget sinkholes for consumers. This can improve a lot still although it has already improved a lot. Change are expensive. An answer from the past can help. Mpg numbers go up with the King Midget which was made from 1946 to 1970. Post resource – So you need mpg? Try a King Midget! by Car Deal Expert.

This ‘will be the future kings of the road’

AutoWeek reports that Dick Messer believed King Midget vehicles nevertheless have numerous who follow it. Since the vehicle is small and inexpensive, it makes complete sense. For $ 49, you can buy these kits back within the day with anything needed to build it. They were also assembled already sometimes and could be bought that way. The engines could vary from 6 hp to 12 hp big blocks. 50 to 70 mpg figures are possible in the King Midget with up to 50 mph also. $ 500 to $ 1,000, reports Wikipedia, were the prices in the 50’s.

When did the King Midget go away?

Safety was a big reason. Federal crash requirements become more strict within the 1970s when the production ended. About 5,000 of the cars were made. There would be more death and injury with the King Midget because it doesn’t absorb shock like common cars do now. But they look fun and get great mileage, don’t they?

Need used car loans for a King Midget?

Clicking the button below can help. Since you’ll not get the King Midget at a normal dealer, make certain they will fund private party purchases. If you really want it, you are able to window shop by clicking on the International King Midget Car Club link. Prices appear to vary from around $ 1,000 to various thousand dollars.

More info accessible at these sites

AutoWeek
autoweek.com/article/20100713/CARNEWS/100719968
Wikipedia
en.wikipedia.org/wiki/King_Midget
International King Midget Car Club Classifieds
kingmidgetcarclub.org/classifieds.html
Vintage Automobile Show interview with car collector Barry Hilbert
youtube.com/watch?v=suv1Dyz4HWo

Mark Williams rants earn Tea Party Express the racist label

A pattern of racism by Mark Williams, founder of the Tea Party Express, got him and his organization kicked out of the National Tea Party Federation. An over the top racist satire was written by Williams, chairman of the Tea Party Express, in response to an NAACP resolution asking the Tea Party to renounce racism in its ranks. The Tea Party denied that racists were part of its membership when the NAACP voted at its convention last week on the Tea Party resolution. But the Tea party expelled Williams after his racist satire was highlighted by the national media. Post resource – Tea Party Express racist Mark Williams kicked out of movement by Personal Money Store.

Racism part of Tea Party Express founder’s style

By expelling the Tea Party Express, founded by Williams, the Tea Party is now without one of its most powerful factions. The New York Daily News reports that Tea Party Express accomplishments consist of raising $ 2.3 million and helping Republican Scott Brown get elected to the late Ted Kennedy’s seat. Williams relinquished the chairmanship last month to focus on leading a racism-tinged campaign against a mosque project in New York called the ground zero mosque, during which he has said Muslims will “worship the terrorist Monkey-god” in a temple in honor of the 9/11 attackers. Williams called Manhattan Borough President Scott Stringer, who backs building the mosque, a “Jewish Uncle Tom who would have turned rat on Anne Frank”.

Tea Party Express leader says Muslims worship a “monkey god”

While the Tea Party Express’ Williams was saying that Muslims worship a monkey god, the Tea Party twisted the meaning of the NAACP resolution requesting the movement cull the racists from its membership. Tea Party officials and right wing news pundits said the NAACP was calling the Tea Party a racist organization. They retorted by calling the NAACP racist. But the NAACP Tea Party resolution’s meaning was clear after Williams wrote a letter and posted it on teapartyexpress.org.

Tea Party Express calls Lincoln “greatest racist ever”

The Tea Party movement expelled Williams and his Tea Party Express after he wrote a letter, labeled as “satire,” from NAACP President Benjamin Todd Jealous to President Lincoln . Fox News posted this excerpt:
“Perhaps probably the most racist point of all within the Tea Parties is their demand that government ’stop raising our taxes.’ That is outrageous! How will we coloreds ever get a wide-screen TV in each and every room if non-coloreds get to keep what they earn?” he wrote. “Mr. Lincoln, you were the greatest racist ever. We had an great gig. 3 squares, room and board, all our decisions made by the massa in the house. Please repeal the 13th and 14th Amendments and let us get back to where we belong.”

Will NAACP resolution help bring Tea Party racism under control?

The Tea Party Express ouster from the Tea Party movement may help the organization in the long run. The Huffington Post reports that now the movement must take responsibility for having an organizational structure. Until now, its vast organic, grass roots nature served as a convenient excuse for denying the kind of accusations that the NAACP made within the first place.

More info about this topic at these websites

nydailynews.com

foxnews.com

huffingtonpost.com

Tuesday, July 20, 2010

Small companies rely heavily on credit cards

Small businesses have to get credit still. This credit doesn’t come as a business loan from a bank or Small business Administration. These days, more small companies have to rely on credit cards. Unless you’ve a Fortune 500 business, there isn’t funding available to you anymore.

Tons of small business credit cards

Credit cards are what, according to CNN Money, small company owners are relying on to get credit. Businesses are approved for credit cards as very easily as they’re denied for business loans. The lowest since 2008, the first quarter of 2010 had $ 40 billion in lending to small businesses. In 2009, less than half of small companies could get lending, and there is no more stimulus for lending since June.

What’s keeping lenders away?

Small companies discover a way to get through the first few months with a simple loan from a small bank. There is also the Small business Administration. Smaller banks don’t have the liquidity to lend and the SBA stimulus has nothing left. Things are put up as collateral, like property, when business owners apply for a loan. Since property isn’t as valuable anymore, less credit is going to be made available. The only way to get credit then becomes credit cards. Businesses can’t free up cash with mortgage loan modification when the property doesn’t have anymore value.

Somebody uses all the benefits

Seven years is the minimum for an short term loan from the SBA. If one starts making minimum places only, credit cards will never get paid off. The main difference between regular credit cards and business credit cards is that business credit cards aren’t under the CARD Act. Big banks are the source of funding for credit cards. Bank of America,JP Morgan Chase, Citibank and Wells Fargo all lend huge amounts of money on credit cards. Who got the most bailout funds?

More details available at these websites

CNN Money

cnn. com/2010/07/14/smallbusiness/bernanke_lending_credit_cards. fortune/

NY Times piece about SBA loans

boss. blogs. nytimes. com/2010/07/11/s-b-a-lending-plunged-in-june/

10 Least costly cars to maintain

Aside from the reality of how much money you’ll be paying on your auto loan for bad credit over the next five years, buying a new car is very exciting. More can be considered than just the purchase prices of the car. All recurring expenses should be considered like fuel and maintenance. Thanks to the work of Automotive.com, you are able to discover the top 10 least expensive cars to maintain – at least among new cars on the market. What follows are the numbers you’ll have to make an informed decision.

10. 2010 Chevrolet Aveo

A standard 1.6 L, inline four-cylinder L4 engine was placed in the new Chevy Aveo. Estimates for fuel economy are 27 mpg city, 34 mpg highway, which is good in the modern market of green hybrid cars. The MSRP can cost you anywhere between $ 11,965 and $ 15,365.

The cost of keeping it up for five years is about $ 1,361
$ 390 is what you’ll pay for repairs in five years

9. New Nissan Frontier

Do you believe me when I say that a truck is number 9? It is no joke that the 2010 Nissan Frontier is listed. This truck gets only 14 mpg within the city and 19 mpg on the highway with its 4.0L V6 engine with the choice engine of 2.5 L L4. MSRP ranges from $ 20,690 to $ 26,840, which is on the low end for trucks in its class. Besides that price, the low maintenance costs gets the 2010 Nissan Frontier on this list.

$ 1,350 – The cost of maintenance for five years
About $ 541 is the five year repair cost

8. New Chevy Avalanche

This truck is even bigger than the Frontier and still makes it to the list. A 5.3L V8 engine is put to the 2010 Chevrolet Avalanche giving it 10 mpg in the city and 15 mpg on the highway as its mileage. Cost is high, ranging from $ 35,725 to $ 48,865 MSRP. But it doesn’t take a lot to keep it going on the road.

$ 1,343 could be how much you pay for maintenance each five years
Repairs over five years will costs about $ 611

7. 2010 Chevrolet Malibu

The 2010 Chevy Malibu is more of a sedan sized car. Good mpg (22/30) from a 2.4L four-cylinder keeps fuel costs down. $ 26,605 could be the most you pay for the MSRP when $ 21,825 can be the least amount you pay.

$ 1,319 can be how much you pay in maintenance in five years
Five-year repair cost – $ 431

6. Honda Civic from 2010

The Honda Civic is legendary for its fuel economy, which could be attributed to its smaller four-cylinder engine sizes. 2.0 L is going to be the max of the 2010 Civic, no matter which one you choose between sedan or coupe.

MSRP range – $ 16,255 – $ 23,800
Five-year maintenance cost – $ 1,270
Repairs for five years cost $ 521

5. New Honda Fit

”Fit” is the word used to describe this Honda. It is such a fantastic little car because of its mileage with 28 mpg within the city and 35 mpg on the highway.

You’ll pay $ 15,700 to $ 17,260 upfront
Five-year maintenance cost – $ 1,245
Five-year repair cost – $ 521

4. Saab 9-7x

One of two 2009 autos among the top 10 least costly cars to maintain, the Saab 9-7x tops out under the hood at 6.0 L V8. The costs other than purchase are very low although it only gets 20 mpg on the highway.

You’ll pay min of $ 42,615 and max of $ 49, 105
$ 1,214 will be what you pay for five years of maintenance
Five-year repair cost – $ 600

3. 2009 Saab 9-3

The 2009 Saab 9-3 comes in convertible, sedan and wagon models

$ 30,360 will be the min price you pay with $ 51,330 being the max price you will pay
$ 1,183 could be the cost of maintenance for five years
$ 520 will be the repair cost over a five year period

2. 2010 Saab 9-3

This is the model for next year.

MSRP range – $ 28,900 – $ 45,080
Five-year maintenance cost – $ 1,182
Repairs over five years cost $ 535

1. Mini Cooper

You need to be able to pay only $ 1,160 in repairs for five years. The 2010 MINI Cooper offers fuel efficiency, style and dependability.

MSRP range – $ 18,800 – $ 34,000
$ 853 will be what you pay for five years of repair

Discover more information

Automotive.com
automotive.com/best-cars/least-expensive-cars-to-maintain/index.html
The 2010 MINI Cooper and “Mission Control”
youtube.com/watch?v=qmX6Ns-we3M

Monday, July 19, 2010

Changes to student loan programs make repayment easier

With the fall semester of 2010 coming up for students, recent changes to student loan programs are taking effect. One change has an income based repayment standard. This might reduce payments for students with debt. For student loans, new formulas and rules will help make higher education more reasonable for most.

Rates for student loans dropping

As of July 1, rates on a form of small loan subsidized by the government did drop. Rates for Stafford loans that have been subsidized dropped from 5.6 percent to 4.5 percent. Subsidized loans that originated before July 1, 2010 will maintain the same rate as before.

Changes to income based repayment

The changes to student loan programs that will have the biggest effect are all of the changes to income based repayment formulas. Numerous recent graduates are discovering that with a tough job market and banks with no money to lend, it’s practically impossible to make student loan payments. The income based repayment recalculation will change the program that was introduced last year. The point of income-based repayment is to keep debt manageable for students who are saddled with huge loans and few job prospects.

Marriage penalty is then removed

For married couples who have two sets of student loans, the new income based upon repayment formula won’t penalize married couples. Combined loan payment amounts could be used to calculate eligibility as long as couples are likely to file their taxes jointly. Only a single money loan balance might be measured against total household income.

Current balance vs repayment balance

Income based repayment used to be calculated using the amount borrowers owed when they first entered repayment. Now, income-based repayment calculations will be calculated using the current amount owed. This will help reduce the load on students who have had loans in deferment, building interest without making payments.

Build your own high performance engine – DIY Corvette

DIY Corvette - Build your own high performance engine

The new GM Corvette program is great for gearheads. If you’re buying a Corvette Z06 or ZR1, you can pay a little additional and build the engine yourself. The best part of this GM/Corvette program is, unlike doing all of this on your own, you are protected every step of the way. Source of article: DIY Corvette – Build your own high performance engine by Car Deal Expert.

The Corvette ZR1 and also Z06

The Chevrolet Corvette Z06 and ZR1 are both high-performance cars built by U.S. company Chevrolet motors. With a base price that comes out to $ 45,000, these autos are really remarkably affordable for sports cars. In the last few years, Chevrolet has encountered a few troubles with the Corvette brand, mostly a reduction in demand. The Z06 has a 7 liter engine, and the ZR1 has a 6.2 liter engine.

Build an engine

Building engines has always been a project for car enthusiasts. Chevy took this to a higher level. Spend an extra $ 5,800 on your Z06 or ZR1, and then you are able to easily visit Michigan and help build the engine for your vehicle. Ponying up the extra cash will get you entry to the plant, the ability to help a craftsman hand-build your engine and even a plate with your name placed right on your special engine. This trip may be worth it to some.

Hand built engines and its legacy

Unlike most performance autos on the market, Chevy Corvette engines are nevertheless hand-built in Michigan. This is how they plan to rebuild the name Chevy. With brands being cut left and right, reinforcing the Corvette brand as a luxury brand is important if Chevy is going to continue to be a viable brand.

Engine protected for DIY

In contrast to engines built with your garage, the DIY Corvette engine has a few protections. Your self-built Corvette engine is totally covered by the standard Corvette five year/100,000 mile powertrain warranty. If you’re spending $ 50,000 or more on a vehicle, it makes sense to have at least some kind of warranty.

Sunday, July 18, 2010

Increasing status of India shown in new currency symbol for rupee

The arcane subject of currency symbols became a hot topic Thursday when India announced that it will implement a unique symbol for the Indian Rupee in world financial markets. Until now, there has been no currency symbol for the Indian rupee, just the abbreviation Rs, Re, or INR. The symbol, a composite of the Roman letter R and its Hindi equivalent accented with two slashes, can be finalized June 24 by India’s Union Cabinet. Based on Europe’s recent experience with the Euro symbol, integrating the new rupee symbol could take a couple of years and cost many billions of dollars.

Rising utility of the rupee earns it a currency symbol

World financial markets had no way to identify the currency of India, which is the second largest democracy in the world. The Deccan Chronicle reports that a design contest with the purpose of creating a currency symbol evoking the history and culture of India selected the new rupee symbol. Confusion in world financial markets by neighboring countries that use abbreviated Rs for their currency symbol will end with the new rupee symbol, Indian officials said. The rupee may also be more tradeable within the west with a distinct identity as India strives to become one of the world’s financial leaders.

Will elite club of currencies welcome the rupee?

Unique currency symbols presently exist only for the U.S. dollar, European euro, British pound and Japanese yen. The BBC reports that with its new rupee symbol, the Indian government is declaring itself a member in this elite class of world economies. The rupee symbol contest attracted up to 36,000 entries that a panel of artists, officials and bankers selected from. A design from a design teacher at the Indian Institute of Technology was declared the winner. The winning prize was Rs 2.5 lakh which is about $ 5,350.

Euro symbol introduction cost billions

Its costly to implement a new currency, according to experts. Suite 101 reports that testing the symbol for technical applications like the web, banners and mobile phones is rigorous and difficult. Plus, it needs to be adaptable to computer keyboards and a large investment is required to print a new banknote design. The BBC article pointed out that to update computer systems to deal with the new euro symbol cost them upwards of $ 50 billion.

Discover more information

deccanchronicle.com

bbc.co.uk

suite101.com

To come is the Apple press conference were iPhone recall is doubted by analysts

As people play with their new iPhone, they wonder if a recall is going to happen. Numerous think the Apple press conference on Friday will talk about an iPhone 4 recall. The antenna issues the iPhone 4 has been having should be addressed at the very least. The iPhone software update will probably be announced also. iPhone recall rumors caused, on Thursday, a drop within the Apple’s stock price. Source for this article – Analysts doubt iPhone recall at upcoming Apple press conference by Personal Money Store.

Is the iPhone going to be recalled Friday at the press release?

Analysts think this rumor of a recall for the iPhone’s wireless reception problems won’t be announced at the conference. Computerworld reports that a giveaway for a $ 29 Apple iPhone 4 bumper case that fixes the iPhone reception problem could happen at the conference also. Some say the Apple press conference on Friday might be a nothing but a smokescreen to cover the iPhone reception problem, with no answers and no giveaways. Others suggest Apple might use the media event to announce the release of an iPhone software update. On its web site, Apple first proposed the iOS 4.0.1 as a solution which ships Thursday as outlined by Macrumors.

iPhone antenna issue benefits other phones

On the same day, the iPhone recall rumor spreads and the Motorola Droid X is launched. As outlined by Ken Hyers who was on eWeek and is a Technology Business Research analyst, Apple is having these iPhone 4 issues at a very bad time. Hyers said other smartphones running the Android OS are getting great reviews. Consumers are getting them in increasing numbers. But he went on to say the iPhone 4 antenna issue isn’t really severe enough to warrant a recall.

iPhone 4 still flying off the shelves

The iPhone 4 has been selling like hotcakes since its June 24 debut on June 24. 1.7 million were sold by Apple in just the first 3 days. But Wired reports that because of the iPhone antenna issue, Apple stock had dropped nearly 8 percent as of July 14. But demand for the iPhone 4 remains brisk. As outlined by the Wall Street Journal. You will find nevertheless a limited amount of supplies being kept on the shelves. Apple says they received a revenue of $ 13.5 billion within the second quarter with a new quarterly profit of $ 3.07 billion.

Citations

Computerworld
computerworld.com/s/article/9179203/What_will_Apple_say_about_the_iPhone_4_?taxonomyId=163&pageNumber=1
eWeek
eweek.com/c/a/Mobile-and-Wireless/Apple-to-Address-iPhone-4-Issues-Report-248066/
Wired
wired.com/epicenter/2010/07/apple-stock-drops-since-iphone-4-analysts-consumers-unfazed/

Saturday, July 17, 2010

New drilling moratorium issued as first drilling rig right away leaves gulf

Monday, a new drilling moratorium for the Gulf of Mexico Oil Spill was issued by the Obama administration. Last month a federal court judge, citing oil drilling jobs, overturned the first deep water drilling moratorium. Ken Salazar vowed to come back with one more one courts would accept. The first deep water drilling moratorium singled out drilling for oil at depths of 500 feet or more. The new drilling moratorium disregards depth and focuses only on drilling scenarios and know-how. The 2010 oil spill in the Gulf of Mexico dumped an estimated 140 million gallons of crude to the sea.

Article resource: New drilling moratorium issued as first drilling rig leaves gulf by Personal Money Store

At all depths, new drilling moratorium applies

Last week, a federal appeals court rejected an appeal by the interior department to restore its initial offshore deep-water drilling moratorium, which halted the approval of any new permits being given out for deep-water projects and suspended drilling on 33 exploratory wells. As outlined by the Washington Post, Salazar made the announcement Monday, arguing that a drilling moratorium is still needed to ensure that oil and gas companies implement safety actions to reduce risks – and are prepared to handle oil spills. Unlike the first moratorium, which applied to drilling rigs in waters of more than 500 feet, the new one applies to any deep-water floating facility with drilling activities.

Jobs in oil drilling are at risk

Through Nov. 30, the new moratorium will last. Numerous permits can be given before that if drillers prove safe actions have been taken. Within the Meantime, a New Orleans business group said the economic damage from a drilling moratorium would be worse than the toll taken by the oil spill within the Gulf of Mexico 2010. Business Week reports that Michael Hecht of Greater New Orleans Inc. told the National Commission on the BP Deepwater Horizon Spill and Offshore Drilling at a listening to that the six-month drilling ban may affect up to 24,000 oil drilling jobs in Louisiana. Hecht assumed the economic impact from the BP oil spill would be dwarfed by the impact from the moratorium.

Having a hard time trusting oil drilling companies

Salazar disagrees with Hecht’s assessment of the outcome. Salazar said in a statement, “A pause on deepwater drilling is essential and appropriate to protect communities, coasts, and wildlife from the risks that deep water drilling presently poses. I’m basing my decision on evidence that grows each day of the industry’s inability within the deep water to contain a catastrophic blowout, respond to an oil spill and to operate safely.”

First drilling rig is to leave the gulf

At the national commission listening to, the CEO of a service provider for offshore drillers said drilling rigs are likely to have to leave the Gulf because of the drilling moratorium. So far, one has proven right. According to the Houston Chronicle, on July 9 Diamond Offshore announced that its Ocean Endeavor drilling rig will leave the Gulf of Mexico and move to Egyptian waters right away — making it the first to abandon the gulf in the wake of the BP oil spill and the drilling moratorium being tested in the courts.

Discover more info here:

Washington Post

washingtonpost.com/wp-dyn/content/article/2010/07/12/AR2010071203003.html?hpid=topnews

businessweek.com

businessweek.com/news/2010-07-12/economic-damage-of-drilling-ban-to-dwarf-oil-spill-hecht-says.html

Houston Chronicle

chron.com/disp/story.mpl/business/7101738.html

Home Run Derby 2010 hits homer for good causes

Home Run Derby 2010 precedes the Major League Baseball All-Star Game and showcases the game’s heavy hitters. It may just be for fun and not mean anything within the standings, but its value to charitable organizations – thanks to the “Go to Bat” program of Major League Baseball and State Farm insurance – can’t be overstated. Fans select their charity of choice and sluggers flex their longball muscles. Donations to the Boys and Girls Clubs of America and a trip to the 2010 World Series raise the stakes a bit.

Source of article: Home Run Derby 2010 circles the bases for charity by Personal Money Store

Home Run Derby 2010 means much to charities

The “Go to Bat” program is intended to make a difference within the community, and Home Run Derby 2010 is a reminder of how Major League Baseball and State Farm are committed to making a lasting impact on their communities, beyond the playing field. Fans who registered at the “Go to Bat” site earlier in the 2010 season are selected randomly by State Farm for individual weekly prizes (a $ 100 charitable donation to that fan’s selected charity). By playing an online Home Run Derby 2010 game through State Farm’s website, fans can increase their chance of being selected (and their charity’s chance of winning). Ten total winners will be chosen, and one will win a trip for two to the 2010 World Series. The second half of the Major League Baseball season will be the “Go to Bat” contest ground, and will end on September 26.

The gold’s within the game at the Home Run Derby 2010

Miguel Cabrera, Corey Hart, David Ortiz, Hanley Ramirez and company will be swinging, and also the Boys and Girls Clubs of America will catch the charity gold. That’s because State Farm will donate $ 3,000 per homer hit during Home Run Derby 2010, and $ 17,000 if a player hits the “Gold Ball” out (when a batter has only one out remaining). Not only that, but one of the local chapters of the Club will get $ 50,000 from State Farm, when the remaining seven chapters local to Orange County, Calif. will receive $ 10,000 apiece. Not to be outdone, the fan-selected charity that receives one of the most support will get an additional $ 25,000 boost from State Farm.

Who’ll touch ‘em all in Home Run Derby 2010?

Go with Miguel Cabrera. He’s pacing the NL in homers, so expect him to open some eyes.

Online Degree Navigator – online education's beginning point

A fantastic place to start an education, or continue one, is by learning online. Deciding which school to enroll in, though, could be overwhelming. The Online Degree Navigator service is one that helps you get pointed in the right direction. Extensive search and compare opportunities, real reviews from current and previous students and an expert rating system all make it easier to decide which online school to attend.

Online Degree Navigator breaks down the possibilities

Online Degree Navigator is intended to help you sort through all the choices for online learning. You’ve got opportunities for sorting through your school choices by their time to completion, cost of tuition, or accreditation. Combined with the expert rating system, Online Degree Navigator can help you easily sort through the avalanche of info to find what you really want to know.

The reviews from real students

The ability to read reviews from real students is one of the best parts of Online Degree Navigator. Current and previous students of almost any online college, university or training program have provided reviews. There is no review better than the one from a student who has been there. The Student Community forums are a place that you are able to ask specific questions of students who are there.

Online Degree Navigator provides the information you need

Choosing an online school means sorting through practically endless options. Choosing a school that is accredited, affordable, and fits your goals doesn’t have to be a challenge. Online Degree Navigator helps you sort through the marketing-speak to choose a school that actually fits you. The best way to choose where you would like to go online to learn is to get all the details you can. The best way to decide is to get the opinions of current students, know the full cost of attending, and get the opinions of the experts – all in one place.

Russian spy swap takes place, thanks to Vision Airlines

When US and Russian spies were being swapped on a tarmac, the U.S.A. was represented by a private charter jet. The business of Vision Airlines is usually escape travel, but they got the contract for this flight. Some are questioning the use of a private charter company for government business.

Article resource: Vision Airlines – US Government flies Russian spies in style by Personal Money Store

Spies from two countries swapped thanks to Vision Airlines

In a moment that looked like a scene from a spy movie than other things, a Vision Airlines jet and a Russian Emergency Ministry jet met up on a tarmac in Vienna. Ten accused Russian agents got on the Russian plane when four “Western Sympathizers” got on the Vision Airlines jet. The biggest post-Cold War era spy drama was hopefully over once both planes took off.

The choice of Vision Airlines

A couple of questions are raised over why the US chose a luxury charter jet rather than an official airplane. An official Russian plane was used for the transfer. Was the U.S. Government trying to pamper the agents which were being brought back? Or were all the available planes already taken? It is possible that both the United States and Russia agreed to not use military planes, just in case. Either way, the choice of a luxury charter jet to swap spies is an interesting one. Is Vision Airlines donating the a number of thousand dollar fee, or is the government going to get an invoice. Vision Airlines is certainly getting attention for the choice – their site has crashed multiple times today.

Improving relations between countries

Reportedly, the President was continually briefed on most decisions involved with the spy swap. It appears most decisions were made to avoid conflict between the two countries. Both of the countries have expressed a desire to keep the tepid relations from again turning cold.

Are all skeptics of electric cars going to be convinced by the Chevy Volt battery warranty?

The part of the electric car General Motors is putting their future toward that they’re most worried about is the Chevy Volt lithium-ion battery. Wednesday, it was announced by GM that the Volt’s lithium-ion battery is guaranteed for eight years or 100,000 miles.

The Chevy Volt battery is literally different from other electric cars

GM’s conventional car engines and transmissions exact same warranties aren’t nearly as good as the Chevy Volt battery warranty. Comparable warranties are placed on hybrid car models such as the Toyota Prius and Ford Escape, as outlined by CNN. But the lithium-ion battery that is for the Volt uses a special chemistry. Numerous people are worried since the battery works alone for up to 40 miles before using gas.

GM says Volt battery will last for many years

CNN was confident by a GM spokeswoman the warranty for the Chevy Volt lithium-ion battery could be transferred to an auto loans for people with bad credit that is new when the car is sold. GM hopes the longer warranty will help convince electric car skeptics that the Volt’s lithium-ion battery will last for many years. The Associated Press reports that the Volt’s battery is similar to the chemical composition of cell phone and computer batteries, which often wear out and are costly to replace. It will cost thousands to replace the Volt battery, weighing 400 pounds.

Volt battery technology has GM’s confidence

With a 120-volt power, the Volt battery can charge in 8-10 hours when in a 240-volt hookup, it only takes 4 hours. Auto Week reports that the GM warranty will cover the lithium-ion battery’s 161 components. Also covered by the warranty is the charging system, electric drive components, and thermal management system. The Volt battery has a liquid heating and cooling system, meant to extend the battery’s life by keeping it at optimal temperatures, and GM has confidence in this which is what allows them to have the longer warranty. The Volt is the only automobile that has a liquid powered thermal management system. Accessible in December is the Nissan Leaf electric car which has an air-cooled battery.

Prepare to wait in line for the Chevy Volt

If the Chevy Volt lithium-ion battery warranty has convinced you to borrow money to own one, you have to get lucky. Another CNN article about the Volt said GM plans to build only 10,000 Volts in 2011. Demands nevertheless won’t be met in 2012 when 30,000 Volts are created. GM is also limiting where the car could be sold. The Volt will initially only be sold in six states and the District of Columbia. The advertised price is 40,000, or 32,000 after tax credits for electric car, but you should plan to pay more to get your Volt.

Discover more about this topic here

CNN
money.cnn.com/2010/07/14/autos/volt_battery_warranty/?npt=NP1
Associated Press
google.com/hostednews/ap/article/ALeqM5jG137SoV7h3AdI0SyNe4d5rVeicQD9GUVQU83
Auto Week
autoweek.com/article/20100714/GREEN/100719940

Friday, July 16, 2010

UK loan requiring a test to be taken

In the United Kingdom, new rules are being considered that would make loans for anyone that may need additional cash a little more difficult. It is being considered because it was found by the Learning and Skills Council that 9 out of 10 customers couldn’t even calculate basic formulas and numbers. They may soon require that a test be taken for those who need loans. Source of article – Getting a loan in the UK could require taking a test by Personal Money Store.

Concern that there isn’t really financial knowledge

As a response to the global financial crisis, the United Kingdom formed a Consumer Financial Education Body. The group found out that basic questions couldn’t be answered by about 74 percent of Britons who have mortgages. Individuals couldn’t even determine how a 1 percent rise within the bank rate would affect them. This lack of knowledge about the basics of the best personal loan can have huge impacts on the financial health of the entire country.

A testing solution?

A required test is a solution considered by the UK. Any customer that wants to get any type of loan — mortgage, online personnel loans, or automobile loan — could have to take a test. Basic features of the loan and financial products would be covered on the test. Example questions might include the interest rate of the loan or the term of the loan. One option that has been suggested to the test is a simple declaration the borrower has read and understood the terms of the loan.

The way loans are sold

Within the United Kingdom, the loan practices are co-run by the Treasury and Business departments of the government. This review is also going to be considering new regulations that require lenders to reveal the full amount of interest the loan would accrue over time. There is also a possibility that bankruptcy regulations would be shifted, allowing those that are truly without the ability to pay to really “start over.”.

Personal finances on the slide despite national upturn?

The CFP (Certified Financial Planner Board of Standards, Inc.) just lately conducted a survey in which they found the majority of American consumers are expecting the U.S. economy to improve within six months. But as Bloomberg indicates, the bad news is that these very same Americans lack faith in their own personal finances. Savings, college and retirement are hot button issues that have The United States seeing red.

Personal finances do not light up the headlines like recession busting

The CFP found that 44 percent of people expect the U.S. economy to rise before their personal finances discover relief, while 28 percent have a doom and gloom outlook. Robert Glovsky of the CFP told Bloomberg that “Americans are typically hopeful, and much of the economic news leads us to conclude that we are out of the recession, and a double dip is unlikely”.

Yet this hope doesn’t appear to apply to personal finances at all. Consumer confidence may be up while the declared unemployment rate was down .2 percentage points from May 2010 to June 2010 (it was 9.5 percent in June), but the CFP survey indicates that nearly two-thirds of Americans (65 percent) indicate that their worries over basic matters of long-term personal finance have grown substantially since the beginning of the recession. Individuals know they’re in need of cash until payday, but often find themselves on the outside looking in when it comes to a bank loan. They may have found that a poor credit personal cash loan is a viable way out of the problem, but this doesn’t bode well if there is no future plan to deal with emergencies that prey upon personal finances.

A three-fold path to bad-time personal finances

CFP survey findings from the 1,000-member sample group (aged 18 and over) showed that most feared whether they’d be able to save money, pay for college and prepare for a financially stable retirement. In addition, 80 percent of the CFP survey respondents were of a mind that Congress has done a less than stellar job of trying to regulate financial markets. Fortunately, the upcoming financial reform bill may address the problem.

Discover more about this topic here

bloomberg.com/news/2010-07-13/americans-are-more-optimistic-about-economy-than-own-finances-survey-says.html

cfp.net/media/release.asp?id=253

Thursday, July 15, 2010

Legal protection from collection agency harassment for all of the consumers

Debt collection has been a growth industry in the U.S. thanks to the Great Recession. As millions of Americans struggle to pay any of their bills, creditors are unloading debt to their collection agencies for pennies on the dollar. Collection agencies are coming down much harder on consumers lately. There are numerous more consumer complaints about collection agency harassment. Courtrooms are being swamped by law firms using debt collection software. But consumers should probably know that they can hire an attorney to sue debt collectors for abusive practices.

Numerous collection agencies: abuse, violence and bogus claims

More collection agencies are trying to pry money from more individuals who don’t have it. It was reported by CNN that harassing phone calls, abusive language and physical violence are becoming a bigger part of the collection agency business. The New York Times reports that a single law firm can use computer software to file thousands of debt collection cases, often based on inaccurate or incomplete details supplied by creditors who sold the debt. The Post-Bulletin in Minneapolis reports that accounts are tapped, wages seized and individuals confronted with arrest for debts they don’t owe or for inflated amounts.

Harassment from collection agency skyrockets

Complaints of collection agency harassment increased by 50 percent in 2009, as outlined by the Federal Trade Commission. The CNN article said they’re on track to jump 13 percent more in 2010 which is depending on FTC complaints filed in the first six months. Repeated calls is the biggest complaint. It is common for debt collectors to harass consumers with calls for extended periods of time. They could be abusive after someone answers the phone. Complaints of collection agencies using obscene or abusive language spiked 35 percent last year. Complaints of debt collectors threatening or resorting to violence just about doubled last year.

Debt collection software sues indiscriminately

While harassment by collection agencies are certainly increasing, they are also hiring lawyers to sue on a mass scale. The New York Times article said a debt buyer sends a law firm a database that contains consumer data including names, home addresses, outstanding balances and also the date of default. The law firm runs the data through debt collection software that runs suits through the legal system automatically, such as the collection letters, summonses and lawsuits. Most consumers who get sued by debt collection software tend to fail to show up in court, and those who do rarely have a lawyer. A court judgment gives debt buyers the ability to collect on the debt through things like wage or property garnishment.

Bankruptcy laws fuel debt collection industry

The debt collection industry exploded starting in 2005 with sweeping changes to federal bankruptcy laws that made it harder for people to get a fresh start. People defaulted on loans which then expanded the debt buyers’ market. According to the Post-Bulletin article, the nation’s five publicly traded debt buyers last year paid $ 835 million to acquire $ 20 billion in old debts. Credit card debt makes up the total But almost all of the types of charged-off debt, from unpaid cell phone accounts to hospital bills are for sale. Debt buyers base their claims on data up to 15 years old that can be impossible to verify, and they’re ready to hound people for years.

To get even with collection agencies, consumers sue

Aggressive tactics are now more common. The CNN article said collection agencies calling before 8 a.m. or after 9 p.m., demanding more money than what is owed, revealing a consumer’s debt to a 3rd party or threatening “dire consequences” like prosecution, jail time, property seizure or job loss. These practices are illegal under the FTC’s Fair Debt Collection Practices Act. Consumers can take a collector to state or federal court for harassment. If they win, the collection agency has to pay for any damages caused by the harassment, as well as all of the court and attorney fees.

Citations

CNN on Yahoo

finance.yahoo.com/news/Debt-collectors-sock-it-to-cnnm-2499699064.html?x=&.v=4

New York Times

nytimes.com/2010/07/13/business/13collection.html?_r=1&emc=eta1

Post Bulletin

postbulletin.com/newsmanager/templates/localnews_story.asp?z=7&a=460512

Toyota asserts Matrix power steering not defective

Toyota says Matrix power steering not a defect

Toyota recalls earlier this year may have masked an investigation the National Highway Traffic Safety Administration performed on nearly a billion 2009 and 2010 Toyota Matrix and Toyota Corolla cars. Power steering issues were up for analysis. Auto Blog reports that Toyota has gone on record as saying that the potential safety defect isn’t really really a defect. Toyota is so sure of this that the company thinks it can keep away from another recall and instead provide free repairs to any customers who ask.

Toyota Matrix power steering may drift or lock

One of the most amazing aspect of this issue is that Toyota is not saying that frozen or drifting power steering units in Toyota Matrix and Corollas aren’t safety defects. The automaker has 437 complaints (11 of those related to injury and 18 to crashes), but their term for the issue is that it’s a “customer satisfaction” problem, rather than a safety defect. AutoBlog indicates that Toyota has advised its dealers via a Technical Service Bulletin that tire pressure and alignment should be considered culprits first. If that doesn’t fix the steering issue, then a new unit that has been tuned with a different feel should be inserted to the Matrix or Corolla in question.

Interestingly, GM’s Pontiac Vibe – which is widely considered a Matrix “twin” – may have the exact same kind of steering issues, writes AutoBlog.

Avoiding recall will conserve Toyota green

If Toyota is allowed to go with not recalling the 2009 and 2010 Toyota Matrix or Corolla, they’ll save money and stay away from having to report to regulators. But the NHTSA may have to sign off on the “non-defect” idea first. At this time, they’re nevertheless investigating. Toyota certainly doesn’t want one more public relations nightmare, and this situation could be one more storm on the horizon. A forced recall could strike down any goodwill Toyota has been able to salvage with the public of late.

Citations

AutoBlog

autoblog.com/2010/07/13/report-toyota-says-corolla-matrix-steering-issue-not-a-defect/

IMF report suggests US needs to get significant about deficit reduction

The United States is in no position to lecture other countries about their financial condition, especially after an evaluation from the International Monetary Fund (IMF). The majority of the report tells anybody following the news what they already know: there’s an economic recovery in progress, but high unemployment is dragging down consumer spending by quite a bit. However, the IMF report also disagrees with the Obama administration’s outlook on the economy, and recommends some harsh deficit reduction actions to return the U.S. to financial health. Politically, most will never fly.

Article resource: IMF report says U.S. better get severe about deficit reduction by Personal Money Store

IMF report admires stimulus package, pans deficit reduction efforts

Until now, the United States and China refused to let the IMF go beyond the general economic survey that is performed annually on all its members. But the U.S. has allowed the IMF to get more specific under the fund’s Financial Sector Assessment Program. It was reported by the Associated Press that the IMF said the U.S. economic recovery “has proved stronger than we had earlier expected” and gave credit to the stimulus package, calling it a “powerful and effective policy response” on the part of the government. But was less good about the outlook for the U.S. government deficit going forward.

Cut Social Security, tax gas, and end home mortgage interest deduction

Concerning the U.S. government deficit, the IMF said that within the aftermath of the stimulus package, the Obama administration will have to raise taxes to get the U.S. deficit down to a manageable level. According to the Washington Post, IMF recommendations involved cutting Social Security, ending the deduction for interest on home mortgages and taxing gasoline.

US too optimistic about deficit says IMF

The IMF report also said the Obama administration was overestimating U.S. economic growth by a lot and needed to trim the U.S. government deficit by billions of additional dollars if its announced spending budget targets are to be met. It was reported by Automated trader.com that those budget targets consist of halving the deficit by 2013 and stabilizing public debt at 70 percent of gross domestic product by 2015. However, the IMF projects that current policies will push the debt level up to 95 percent of GDP by 2020 and to at least 135 percent by 2030.

IMF report disagreed with by Obama

The IMF assessment of the U.S. government deficit outlook is doubted by the Obama administration. Within the Associated press article, a U.S. official said that the IMF used many forecasts for economic growth which were too pessimistic compared to the consensus of most private forecasters, with the impact of inflating the U.S. government’s deficit problem over the next decade.

IMF deficit reduction recommendations political suicide

The IMF’s recommendations for the U.S. are the same as those it made for European countries. The Post article said those recommendations are politically difficult. As an example, allowing homeowners to deduct their mortgage interest payments from their income taxes has become a right to Americans. The IMF talked about the deduction, saying it was part of a homeownership system that was “costly, inefficient and complex,” did not increase ownership rates compared with similar countries without the very same tax incentives, and mostly benefited “the better-off.”

Citations:

Associated Press
google.com/hostednews/ap/article/ALeqM5iP9zjiClXKpjY6n7AS3qlbrb964gD9GR65C80
Washington Post
washingtonpost.com/wp-dyn/content/article/2010/07/08/AR2010070806116.html
Automated Trader
automatedtrader.net/real-time-dow-jones/4045/2nd-us-needs-plan-to-bring-down-debt-without-hurting-growth_imf

Tuesday, July 13, 2010

Illegal immigration takes jobs Americans don't want

Illegal immigration and immigration reform are supplying lots of media content lately. The Justice department is suing to block the Arizona immigration law. A majority of Americans agree with the law, polls show, and Utah is considering a copycat law. In the mean time, unemployed Americans are less than enthusiastic about a campaign offering them low-paying, labor-intensive jobs filled by illegal immigrants.

{|Article resource: Unemployed refuse offers for jobs filled by illegal immigration by Personal Money Store

American agriculture and illegal immigration

To draw attention to immigration reform, the United Farm Workers Union launched a campaign called “Take Our Jobs”. The union stands behind the AgJobs bill, legislation being held up on Congress that gives temporary legal status to immigrants that can become permanent if they stick around on American farms. CNN reports that at least half a million applicants are needed to replace the immigrant workforce. Anyone who wants to work on a farm can fill out an application at takeourjobs.org.

Unemployed shun back-breaking labor

Union president Arturo Rodriguez told CNN that at least 4,000 people have responded to the application. Some of the responses are hate mail, others are serious. Only a few dozen have followed through. Most applicants quickly lose interest once the reality sinks in that the jobs involve back-breaking labor in triple-digit temperatures and minimum wage, typically without benefits.

Anti-immigration groups vs. farm labor reality

The Department of Agriculture counts nearly 1 million farm workers in the U.S.. the Migrant Farm Worker Justice project claims that 85 percent of farm workers are immigrants and as many as 70 percent of them are illegal. Even so, a crackdown on illegal immigration is favored by most Americans, surveys show. Allheadlinlenews.com reports that 59 percent of those surveyed by the Pew Research Center support the Arizona immigration law. Nearly 20 states are drawing up comparable legislation, including Arkansas, Idaho, Indiana, Maryland, Michigan, Minnesota, Missouri, Nebraska, Nevada, New Jersey, Ohio, Oklahoma, Pennsylvania, Rhode Island, South Carolina, Texas and Utah.

Illegal immigration puts food on the table

The United Farm Workers Union, in support of the AgJobs bill, insists that illegal immigration helps, not hinders, the economy. The CNN article quotes Rob Williams, director of the Migrant Farm Worker Justice Project as saying that in The United States it is pretty clear that the least desirable job to have is being a migrant farm worker. A labor crisis would result if the anti-immigration movement got its wish, Williams said. Because everybody has to eat, he said, immigrants do the work when nobody else is willing.

Discover more about this topic here:

cnn.com

allheadlinenews.com

Saturday, July 10, 2010

Taking the Wells Fargo Finance Division out of the mix

After heavy subprime mortgage losses, Wells Fargo has announced the closure of the Finance Division. This move will chop about 3,800 jobs from the 14,000 person division. Wells Fargo will nevertheless offer line-of-credit loans and other financial products — just not through a separate division.

Source of article: Wells Fargo to shut down Finance Division by Personal Money Store

Wells Fargo Finance Division

Open for over 100 years, Wells Fargo Finance has operated separately from Wells Fargo Banking. The Finance Division has been responsible for providing small loans, large loans, auto financing and mortgages. With $ 24.7 billion in real estate loans in the Wells Fargo Finance Division, only $ 1.5 billion of them are “prime”. On-level with other lenders, the Wells Fargo Finance Division only lost about 4.6 percent of value in the last quarter.

The Wells Fargo merger with Wachovia

In 2008, Wells Fargo started a merger with smaller lender Wachovia Bank. Wells Fargo brought in liabilities also as branches. There are about 6,600 branches of Wells Fargo/Wachovia banks and an additional 2,200 Wells Fargo Home Mortgage offices. The takeover of Wachovia was forced by government regulators, who wanted to ensure that Wachovia bank would not fail. As a separate entity, Wachovia was dissolved in March of 2010.

Wells Fargo plans on continuing to lend money

The Wells Fargo bank branches will nevertheless be providing services for customers who are borrowing money. Auto loans and fast personal cash loan will now be offered inside Wells Fargo branches. The Wells Fargo mortgage loan business is going to be focusing more on loans backed by the Federal Housing Administration. These federally backed housing loans are less likely to default, in theory. The company will continue to service the $ 22.3 billion dollars in personal loans and auto loans.

Denies by Donald Berwick recess appointment was the GOP political points

Donald Berwick was appointed by President Obama to lead the Centers for Medicare and Medicaid services (CMS) when Congress is in recess. Berwick’s recess appointment means that politicians are deprived of an opportunity to weigh in once again on the health care reform bill that passed earlier this year. The administration says the recess appointment of Berwick helps move heath care reform along without Republican obstruction. Republicans think it is just an attempt at hurting Berwick's record. Berwick, who’s a professor at Harvard Medical School is being vilified by Republicans despite the fact that he has the support of virtually the entire health care industry.

Article source: Donald Berwick recess appointment denies GOP political points by Personal Money Store

To lead Medicare overhaul is Donald Berwick
Donald Berwick’s recess appointment happened since the White House said the new health care reform law calls for many new changes in Medicare and Medicaid, which insure nearly one-third of all Americans. Dan Pfeiffer, the White House communications director, told the New York Times that the president decided to act because “many Republicans in Congress have made it clear in recent weeks that they were going to stall the nomination as long as they could, solely to score political points.”

Backed by Bush appointees is Berwick

In April, Donald Berwick was nominated to lead CMS. The agency didn't have a permanent administrator since October of 2006. The Washington Post said Berwick is the perfect choice to oversee a Medicare/Medicaid budget of $800 billion — about one-third of all health-care spending. He is recognized as one of the nation’s leading experts on improving health care quality when saving money. Two CMS administrators appointed by George W. Bush back the nomination, also as the American Hospital Association, the AARP, the National Committee to Preserve Social Security and Medicare and also a list of local medical groups.

Obstruction by republicans bypassed

Despite his credentials, Republicans are planning use Donald Berwick’s nomination to whip up partisan furor over “Obamacare.” The Associated Press reports that Republicans, who use “rationing” as a code word to discredit health care reform, have seized on comments like one Berwick made to an interviewer last year: “The decision is not whether or not we will ration care, the decision is whether we will ration with our eyes open. And right now, we are doing it blindly.” Berwick also drew Republican anger for praising Britain’s National Health Service.

Idea to ration health care revisited

The Post that has some of Pat Roberts of Kansas are trying to twist these statements. ”Dr. Berwick is the perfect nominee for a president whose aim has always been to conserve money by rationing health care,” Mr. Roberts explained on the Senate floor last month. The Associated Press article stated when it comes to the rationing issue; Republicans argue that Berwick would deny needed care based upon on cost. Supporters argue rationing already is done by insurance companies, and Berwick wants transparency and accountability in medical decisions.

Find more information here:

New York Times

thecaucus.blogs.nytimes.com/2010/07/06/obama-bypassing-congress-on-medicare-job/

Washington Post

washingtonpost.com/wp-dyn/content/article/2010/06/28/AR2010062804675.html

Associated Press

hosted.ap.org/dynamic/stories/U/US_OBAMA_HEALTH_CARE_APPOINTMENT?SITE=WNYC&SECTION=HOME&TEMPLATE=DEFAULT

Thursday, July 8, 2010

Jaycee Lee Dugard and kids get $ 20 million settlement

While kidnapper and registered sex offender Phillip Garrido and wife Nancy nevertheless have not gone to trial, CNN reports that Jaycee Lee Dugard and her two teenage daughters are the recipients of a $ 20 million settlement from their case against the California State Department of Corrections and Rehabilitation. The lawsuit stemmed from Jaycee Dugard’s claim that parole agents were in dereliction of their duties when they failed to investigate Phillip Garrido’s residence more thoroughly, which would have uncovered the imprisonment of both herself and her young daughters in Garrido’s backyard. The bill appropriating the unprecedented $ 20 million Dugard settlement flew through very easily with a 30-1 vote within the California Senate and 62-0 in the California Assembly.

Source for this article: Jaycee Lee Dugard and kids receive $ 20 million settlement by Personal Money Store

For 18 years, Jaycee Lee Dugard was gone

No amount of money can be able to give give the now 30-year-old Jaycee Lee Dugard and her family back the lost years when she lived in Phillip Garrido’s makeshift backyard prison. But the $ 20 million Dugard settlement will enable Jaycee Dugard to purchase a home, pay for her children’s education and obtain as much therapy as is necessary, among many other things. If nothing else, perhaps the scrutiny to the California State Department of Corrections and Rehabilitation’s methods will prevent any person else from going through a comparable ordeal. As outlined by department’s report, “While it is true that Garrido’s California parole was never officially violated … the department failed to properly supervise Garrido and missed numerous opportunities to discover his victims.”

Against Dugard, state officials thought they had a case

While California State officials thought that they had enough information on their side to contest Jaycee Lee Dugard’s claim, they ultimately ruled that it was not worth bringing the case before a jury. Their case evidently would have hinged upon jurisdictional matters, reports CNN. Public relations for California would are bad. The state decided against passing the buck and claiming that it was the responsibility of federal parole officers (instead of California State parole officers).

Find more information here:

CNN

cnn.com/2010/CRIME/07/01/california.dugard/?hpt=T1

AP report on $ 20 million Dugard settlement:

youtube.com/watch?v=nr7xF52DMRU

Tuesday, July 6, 2010

Ireland and recession are nevertheless well-acquainted

Not long ago, Ireland was in recession and languishing through massive unemployment to the tune of one lost job every five minutes. Yet according to the Wall Street Journal, a 2.7 percent bump in GDP as it relates to Ireland’s export market is an official sign of the end of recession. That doesn’t gel with the long economic recovery most experts predict for Ireland. One of the hardest-hit euro zone countries in the recent global recession, Ireland’s GDP had fallen by more than 14 percent entering 2010. The Times points to that figure, also as an ugly deficit and 13 percent unemployment, as the reason why Prime Minister Brian Cowen is not optimistic.

Source for this article: Has Ireland exited the recession? A quick fix seems unlikely by Personal Money Store

Ireland’s recession – Investor medicine needed

Sky-high benchmark bonds are keeping Ireland in the recession, reports the New York Times. This has frightened investors and kept guaranteed loan borrowing rates high, which has spelled trouble for Dublin. Ireland’s primary goal is to restore investor confidence through deficit reduction, but higher taxes, lower salaries for public workers and also the fallout of the burst housing bubble – including an uptick within the origination of low cost loans – have made it difficult for Ireland’s population to wait patiently.

Relying heavily on exports

Ireland has previously depended upon the business of info companies like Intel and Microsoft, but this time, they’re hoping exports will fuel their economic recovery. Wage and energy cost decreases – as well as a falling euro – have “improved competitiveness,” writes the Times, but that may not create enough jobs. Wage cuts are making Irish graduates think twice about staying home. They want fast cash loans, not the promise of a better Ireland in 10 to 15 years, when experts predict future infrastructure spending will resume.

Irish elections may not go well for Cowen in 2012

The long, hard road to economic recovery via tough deficit reduction might be the only way that Ireland will escape recession. But it will likely not happen fast enough for Irish voters in the next election. Prime Minister Cowen hopes his promise not to cut public salaries any more will be enough to conserve him, but seems like doubtful. The people can only take so much.

Discover more about this topic here:

http://online.wsj.com/article/SB10001424052748703426004575338433422665358.html?mod=googlenews_wsj

http://www.nytimes.com/2010/06/29/business/global/29austerity.html?hp=&pagewanted=all

Friday, July 2, 2010

Transmission trouble - What every car owner must know

Few things cause the average auto owner to cringe like the mention of transmission trouble. Yet the truth is that most simply know that is sounds expensive. Yet with some basic knowledge of transmissions and how to care for them, replacing a transmission can be avoided in many cases. While 200,000 on a transmission is possible with good care, variables ensue that make that prediction very fuzzy. Some last 80,000 miles or fewer.

Article Resource: Transmission trouble – What every car owner must know by Car Deal Expert

Banish early transmission trouble with a little knowledge

Part of avoiding transmission trouble involves understanding what a transmission does for your car. It is a key component in the drivetrain of your vehicle; the drivetrain consists of those components that generate power and transfer it to the road surface so that the vehicle moves forward. Both automatic and manual transmissions serve to facilitate gear shifts so that the car moves on a variety of surfaces and inclines.

The nuts and bolts are a bit complicated, but here are the four basics:

Bell housing: The cone-shaped metal casing. If your car is front-wheel drive, it will be visible under the hood and off to the side of the engine. Rear-wheel drive cars house the transmission under the car and behind the engine.
Gears: These are broken down into main and planetary segments. These are essential to an engine’s function.
Fluid: The red fluid in an automatic transmission. It lubricates the gears of an automatic transmission so that excessive heat build-up doesn’t cause the parts to break down and cause real transmission trouble.
Filter: Eventually, transmission fluid becomes dirty and needs to be changed. The transmission filter catches particles and build-up. Many early transmission trouble issues can be helped by changing the filter

For what amount of time does a transmission function?

With proper maintenance, hopefully “as long as possible” will be your answer. But the real answer depends upon your driving habits, driving environment, type of fluid used and the physical construction of your transmission (beyond your control). Quality of transmission build is beyond the average car shopper’s influence in most cases, so focus on the other aspects.

How Stuff Works says that transmission fluid should be changed at least twice per year, if not more often. If you drive hard (over half the time in heavy city traffic) in high temperatures of over 90 degrees Fahrenheit, 15,000-mile fluid and filter change is a good idea. And there are at least 50 different grades of transmission fluid to match the slip requirements of your car’s gear ratio. Thus, consult your car’s owner’s manual for advice on what grade of fluid is appropriate.

Is transmission trouble coming as a fluid leak?

If your transmission doesn’t seem to shift clearly, transmission trouble could be on the horizon. How Stuff Works points out where to look for leaks that could be causing this shifting problem:

Drain hole on the underbelly
Between transmission and engine
Selector shaft – where the shift connects to the tranny
Speed sensor – Either mounted on the housing or the spot where a cable connects
Radiator – Look for red fluid mixed with the water/antifreeze

Serious transmission trouble deserves a skilled mechanic

If the basics of fluid and filter changes don’t cut it, you need an ASE-certified mechanic with Blue Seal facilities. According to Cost Helper, replacing a transmission can cost anywhere from $ 1,800 to $ 3,500. Cost will fluctuate depending upon labor costs by your mechanic, as well as vehicle make. A limited warranty on the new transmission is quite desirable to essential here. Rule of thumb is the more your car costs, the more it will cost to replace the transmission.

Citations

http://www.costhelper.com/cost/cars/transmission.html

http://autorepair.about.com/od/troubleshooting/a/auto_tran_probs.htm

http://auto.howstuffworks.com/under-the-hood/car-part-longevity/how-long-transmissions-last.htm