Archive for the ‘In The News’ Category

5 Money Mistakes You Might Be Making – How to Avoid Them

By admin On April 27, 2010 No Comments

If you could have more money in your checking account, you’d definitely take it, right? It probably comes as no shocker to you that it’s really easy to let your funds slip away. But what you might find surprising is how simple it can be to turn things around for the better. Here are 5 common money mistakes with doable solutions.

Money Mistake #1: My Money Is Disappearing

No one starts the month planning to fritter away a small fortune, but that’s what can happen when minor expenses spiral out of control. It’s not just shopping at Saks that gets you into trouble. Seemingly innocent purchases — $15 jeans at Target, a few things for the kids at a two-for-one sale, the occasional Frappuccino — can do real damage to your bottom line.

What does it take to waste $10,000 a year? Just $27.40 a day. “You can undermine some

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Pope faces fresh claims of child sex abuse cover-up

By admin On April 14, 2010 No Comments

Pope Benedict XVI faced fresh pedophilia cover-up claims as church files suggested he failed to take action against a US priest accused of molesting up to 200 deaf boys.

The documents obtained by The New York Times include correspondence between the accused priest, who worked at a school for deaf children in the US state of Wisconsin, and the then Cardinal Joseph Ratzinger in 1996.

Ratzinger, then part of the Vatican’s Congregation for the Doctrine of the Faith, was alerted to the accusations against Reverend Lawrence C. Murphy in two letters written to him by the Wisconsin archbishop. Read full story

One comment says: “The natural way of life is marriage . if a man is not married do not trust him for your kids does not matter if he is religious or not.Be safe rather than sorry.”

In my part I don’t trust people who are not marriage.

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Man finds $88 billion in bank account

By admin On April 2, 2010 No Comments

A man become a billionaire in five hours.

When Paul Fischer checked his bank account Friday night, he had a happy surprise. His balance had exploded to $88,888,888,888.88. A very lucky number indeed, and close to $89 billion.

Of course, the balance was a technical error by SunTrust Bank (NYSE: STI – News), which quickly fixed the problem. It also may have occurred in other accounts.

“You say, ‘Eighty-eight billion, what can I do with that?’” said Mr. Fischer, who owns a jewelry concessionaire for Florida theme parks. “Maybe a handful of us could have brought down SunTrust Bank.” read the full story

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Dry spell hitting rural banks

By admin On March 22, 2010 No Comments

Rural banks will seek relief from the central bank for possible losses from loans extended to farmers who have been hit hard by the El Niño-induced dry spell.

“Our loan quality will deteriorate so we are going to ask for regulatory relief from the central bank,” Joseph Omar O. Andaya, president of the Rural Bankers Association of the Philippines (RBAP), said in a telephone interview on Sunday.

Rural banks lend half of their portfolio to the agriculture sector.

Andaya said the RBAP board would meet on Tuesday to finalize its request for the Bangko Sentral ng Pilipinas (BSP) to reopen its assistance to banks affected by tropical storm Ondoy last year, this time to banks whose clients have been affected by the drought.

Central bank data showed that rural banks’ bad loan ratio had worsened by 0.45 percentage point to 10.58 percent as of last September from a year earlier. Read full story

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World’s Billionaires 2010

By admin On March 11, 2010 No Comments

Carlos Slim Helu takes No. 1 spot on Forbes World’s Billionaires list as a record 164 10-figure titans return to the ranking amid the global economic recovery.

For the third time in three years, the world has a new richest man.

Riding surging prices of his various telecom holdings, including giant mobile outfit America Movil (AMX), Mexican tycoon Carlos Slim Helu has beaten out Americans Bill Gates and Warren Buffett to become the wealthiest person on earth and nab the top spot on the 2010 Forbes list of the World’s Billionaires.

Slim’s fortune has swelled to an estimated $53.5 billion, up $18.5 billion in 12 months. Shares of America Movil, of which Slim owns a $23 billion stake, were up 35% in a year.

That massive hoard of scratch puts him ahead of Microsoft (MSFT) cofounder Bill Gates, who had held the title of world’s richest 14 of the past 15

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Recession grows ranks of the ‘new poor’

By admin On February 23, 2010 No Comments

Even as the American economy shows tentative signs of a rebound, the human toll of the recession continues to mount, with millions of Americans remaining out of work, out of savings and nearing the end of their unemployment benefits.

Economists fear that the nascent recovery will leave more people behind than in past recessions, failing to create jobs in sufficient numbers to absorb the record-setting ranks of the long-term unemployed.

Call them the new poor: people long accustomed to the comforts of middle-class life who are now relying on public assistance for the first time in their lives — potentially for years to come.

Yet the social safety net is already showing severe strains. Roughly 2.7 million jobless people will lose their unemployment check before the end of April unless Congress approves the Obama administration’s proposal to extend the payments, according to the Labor Department.

Here in Southern California,

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Countries struggling with massive debt

By admin On December 17, 2009 1 Comment

Is Sovereign Debt the New Subprime?

That’s a question many on Wall Street are asking as 2009 comes to a close. Just as many subprime borrowers were unable to make their mortgage payments in 2007 and 2008, investors now fear certain nations will be unable to pay their debts in the year ahead.

Rising mortgage defaults and credit card delinquencies put many banks on the brink of bankruptcy in 2008, sending the global economy into a tailspin. But sovereign debt defaults are potentially even more catastrophic as they can lead to geopolitical instability, societal unrest and even war. And there will also be economic ramifications for investors worldwide, putting America’s (and the globe’s) fragile recovery at great risk.

To varying degrees, Greece, Spain, Ukraine, Austria, Latvia, Mexico are just a handful of the nations viewed at risk of defaulting. Meanwhile, Dubai only just avoided a similar fate thanks to a $10 billion bailout

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Best paying jobs in America

By admin On December 4, 2009 No Comments

Anesthesiologists take home a median $292,000 salary annually. What other great careers from Money and PayScale.com‘s list of Best Jobs in America offer big paychecks?

1. Anesthesiologist

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Best Jobs rank: 11*

Median salary: $292,000

Top pay: $408,000

The high pay for anesthesiologists reflects inherent stress in a job that is literally about life and death. “Anesthesiologists get patients safely and intact through operations while surgeons do things that would otherwise kill them,” says Roger Moore, president of the American Society of Anesthesiologists. The big salaries are also a payback for the 12-plus years of training required before an anesthesiologist can start practicing.

2. Physician/Obstetrician/Gynecologist

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© Jupiterimages

Best Jobs rank: 22*

Median salary: $222,000

Top pay: $338,000

OB/GYN salaries reflect the high malpractice insurance premiums they must pay, due to the riskiness of

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