Touted as big win for consumers is Financial reform bill agreement

Friday, congressional negotiators announced a financial reform bill agreement. It will be voted on by the House and Senate next week. If it passes, the financial reform bill changes most of the rules that form the relationship between financial institutions and consumers. Some feel consumers will win big with the bill. Others feel consumers will be shafted.

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

New consumer protection agency

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

Fiduciary standards hurt consumers?

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

Consumer agency consolidates oversight

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

Consumer protection leadership

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

You should never mess with Elizabeth Warren

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

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

Additional information at these websites

Business Week

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

Forbes

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

ABC News

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

USA Today

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

Car battery switch out - what you have to know

It’s a sound (or rather, lack of a sound) that everyone dreads. It's very frustrating to hear a click-click whenever you make an effort to start your car. It could mean that you just left the lights on overnight, or it could mean that your battery is dying. Knowing when to replace your car battery can help cut down on these unfortunately surprising moments of being stranded.

Source of article: When to swap out your car battery by Car Deal Expert

The way a car battery operates

The essential essence of a car battery is the same. Chemical energy is created when diluted sulfuric acid runs across and around lead plates. Whenever you ask the battery for power, it converts that chemical energy to electric energy. When the lead runs out of chemical energy, they have to be recharged. The battery eventually simply wears out, and will need to be replaced.

Knowing when to replace the battery

If you drive you car under unusually rough conditions, you’ll need to replace it as often as each and every two years. Most batteries, under average driving load, will last up to six years. “Heavy” or “taxing” usage of your car battery could include things such as

:

• Driving or storing your battery in extreme cold (such as hard winters)
• Not refilling the battery with distilled water regularly
• Running energy-expensive add-ons, like alarm systems, off your battery
• Regularly jump-starting others

Any maintenance shop should be able to test the battery for you. Check out the alternator if your battery tests low – just to make certain that isn't a mechanical problem.

Recycling your old car battery

Old car batteries, even if they’re not holding a charge, can nevertheless be useful. A car battery could be environmentally damaging if you just throw it away. Take the battery to a recycling center. A recycled battery would be worth a few dollars .

Kelloggs recalls cereals reported to cause vomiting and diarrhea

A Kellogg’s recall of breakfast cereals was released Friday after many complaints that a noxious stench and offensive flavors experienced with various of the cereals caused diarrhea and vomiting in some instances. About 28 million boxes of breakfast cereal marketed to kids were voluntarily recalled by the Kellogg Business.

Article source: Kelloggs recalls cereals reported to cause vomiting and diarrhea by Personal Money Store

28 million boxes of cereal in Kellogg's recall

The Kellogg’s recall involves about 28 million boxes of Apple Jacks, Corn Pops, Froot Loops and Honey Smacks. The Associated Press reports that the company volunteered to pull the cereals off the shelves because a “waxy” smell and flavor coming from the package liners could make people sick. J. Adaire Putnam, a Kellogg's spokesperson, said the business received about 20 complaints, of which five incorporated vomiting and diarrhea.

Froot Loops win Smart Choice label

The Kellogg’s recall involves Froot Loops, a cereal brand that has been the subject of a few controversies. Foodpolitics.com reports that Froot Loops had been reformulated to contain 3 grams of fiber to win an endorsement from the American Society of Nutrition (ACN), which is manages the Intelligent Choices program. To win the Smart Choices label, apparently Kellogg's and other participating companies pay $100,000 to ACN. Froot Loops turn out to be not so smart as a nutritional choice, having no fruit, carrying 41 percent of their weight in sugar, packing 44 percent of their calories in sugar and containing a substance that increases the risk of coronary heart disease—trans fat.

Within the (froot) loop – USDA

The Wall Street Journal reports that Putnam said the offending smells and flavors emanated from plastic liners within the boxes. The bags were first used in cereal boxes in late March. In the next a number of months, consumer complaints mounted. After launching the recall, Kellogg's notified the U.S. Food and Drug Administration.

Kellogg’s recall – who to call>

Consumers can contact Kellogg at 888-810-4163 from 8 a.m. to 8 p.m. Eastern time to learn more about the recall or get a refund. Products affected by the recall are marked with the letters "KN" following the "better if used before" date on the box.

Discover a lot more about this topic here:

www.google.com/hostednews/ap/article

Foodpolitics.com

wsj.com

Transmission trouble - What every car owner must know

Transmission trouble is something no car owner wants to hear. Yet the truth is that most simply know that is sounds expensive. However, with some basic transmission knowledge and proper transmission maintenance, replacing a transmission can be avoided until absolutely necessary. For some cars, that time may come around 200,000 miles, although as you’ll see, there are many variables involved that can lessen that figure. There are some transmissions that only make it to the 80,000-mile mark.

Resource for this article: Transmission trouble – What every car owner must know by Car Deal Expert

Transmission trouble won’t visit so often if care is taken

Part of avoiding transmission trouble involves understanding what a transmission does for your car. It is the lynchpin of your car’s drivetrain, the system that generates power and gets your car going. Transmissions may be automatic or manual, but both work to shift gears and maintain momentum of the car on a variety of elevations, at various speeds and on different road surfaces.

While all of the internal workings of a transmission are somewhat complex, here are the four basic systems, as outlined by About.com:

1. 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.
2. Gears: These are broken down into main and planetary segments. These are essential to an engine’s function.
3. 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.
4. 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

How long does a transmission last?

”As long as possible” is the hope for those who keep up with fluid and filter changes. 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). Build quality is often beyond one’s control, so focus on the other aspects is best.

According to How Stuff Works, transmission fluid should be checked and changed regularly, at least twice per year if not more often. Hard city driving and 90-plus-degree Fahrenheit temperatures warrant at least a 15,000-mile changing schedule. There are 50 or more transmission fluid grades to provide the proper amount of lubrication for your car’s specific gear settings. Consulting your auto owner’s manual is advisable here.

Do you notice a fluid leak?

If your transmission doesn’t seem to shift clearly, transmission trouble could be on the horizon. According to How Stuff Works, some places to check for red fluid leaks include:

< li>Filler tube base
• 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? Avoid DIY

If changing the fluids and filter aren’t enough, seriously consider using an ASE-certified mechanic who has access to Blue Seal repair digs. Expect costs in the neighborhood of $ 1,800 to $ 3,500 when replacing a transmission, advises Cost Helper. That will depend on labor costs and vehicle make, it should be known. 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.

Read more on this topic here

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

The want to defer strategic default with consequences by Fannie Mae

Fannie Mae is upping the bet on strategic default of home mortgages Wednesday, saying that borrowers who default despite having ability to pay in good faith won’t be eligible for a new Fannie Mae-backed mortgage for seven years from the date of foreclosure. Home foreclosures and strategic defaults are both increasing. There are a lot of offers online to help in strategic default. Last week the House passed the FHA Reform Act that ended up having a provision for penalizing strategic defaulters in the bill.

Source for this article: {Strategic default consequences

Fannie Mae, which owns or guarantees more than 50 percent of mortgages in the U.S., wants more severe strategic default consequences. It is now refusing to back new loans for walk-away borrowers for seven years after they abandon their homes. In a press release, Terence Edwards, executive vice president for credit portfolio management at Fannie Mae, said "Walking away from a mortgage is bad for borrowers and bad for communities, and our approach is meant to deter the disturbing trend toward strategic defaulting. On the flip side, borrowers facing hardship who make a good faith effort to resolve their situation with their servicer will preserve the option to be considered for a future Fannie Mae loan in a shorter time frame."

Strategic defaulters sued by Fannie Mae

In the press release, Fannie Mae, said it may also sue to recoup the outstanding mortgage debt from borrowers who strategically default on their loans in jurisdictions that allow for deficiency judgments. In an announcement that can be given next month, the company could be instructing its servicers to monitor delinquent loans facing foreclosure and make recommendations for strategic default cases that warrant the pursuit of deficiency judgments.

Strategic default definition

The strategic default issue is a thorny one because of the challenge to define what makes a default strategic. The Washington Independent reports that strategic defaulters aren’t breaching their contracts. Each mortgage contract defines what is going to happen if the borrowers do not pay: the bank evicts them and takes the home. It is very doubtful the government could stipulate that homeowners have to hand over the last of their savings to the bank before they can walk away, or that they have to be hand over a certain percentage of their annual income before they walk away. The money individuals have left might be used to move to an apartment, pay any of their medical bills or to purchase shoes for their kids.

Citations
Fannie Mae

fanniemae.com/newsreleases/2010/5071.jhtml

Washington Independent

washingtonindependent.com/87943/when-underwater-homeowners-walk-away

Reduce debt with a carefully prepared debt consolidation loan

To simplify your debt, debt consolidation loans work. But when it comes to debt relief, it is only the first step. It doesn't make any sense to get a consolidation loan without changing your spending habits, because otherwise you're simply trying to borrow your way out of debt. Debt consolidation makes sense if, by grouping all individual forms of debt into one place, the rate of interest is lower. But you could end up paying a lot more in the long run if the rate of interest is only lower because the term is longer.

{|Source for this article: For real debt reduction, plan your debt consolidation carefully by Personal Money Store

Plan ahead for worthwhile debt consolidation

Debt consolidation takes careful preparing to conserve on interest and get out of debt faster. Numerous free debt consolidation calculators are accessible online. You are able to figure out all the factors that will determine if debt consolidation will work using these tools. Make a plan of action by experimenting with a variety of interest, payment and term combinations.

Top opportunities for debt consolidation

A variety of debt consolidation options can work for you. Some of the best debt consolidation options are listed by M.P. Dunleavy at MSN MoneyCentral. When you have equity as part of your home, explore a home equity loan. Home equity loan interest rates are low (high single digits) and the money you pay in interest is tax deductible. A secured loan you probably don't think about is your car, which you are able to refinance for cash to pay down debt. A personal cash loan can be a good option because the rate of interest can be a lot less that what you’re paying to the credit card company.

Debt relief can grow like a rolling snowball

When it comes to debt consolidation, many financial advisers believe that for real debt reduction, you have to formulate a plan to settle each debt separately. Financial adviser Dave Ramsey likes what he calls the “snowball approach. The snowball approach pays off debts one by one, from small to large. List your debts in order from small to large. Start with the smallest debt as the first priority. The snowball approach motivates you with success by paying down the simplest debts first. The debt snowball works for dealing with debt, but it takes many financial discipline, budgeting and saving money.

Citations

moneycentral.msn.com

daveramsey.com

Price and features of Verizon Droid X announced

All fans of the Verizon Droid, your day will turn up soon – the Droid X has been formally announced. New features and native Android 2.2 support make the Droid X a shiny new phone to have. You will find rumors that this phone may, as well as every little thing else, may actually make phone calls!

Article Source: Verizon Droid X – Features, price, release and Flash announced by Personal Money Store

The numbers of the Verizon

The Verizon Droid X includes a dizzying array of numbers and statistics attached to it. The 1 GHz processor chip will run just about any program you can throw at it. The 16 GB memory, expandable to 40 GB, is enough to store about 5,000 of the 8-megapixel camera’s photos. The eight-hour talk time battery has enough juice to (reportedly) not need charging more than once each day or two. With the right data plan, you are able to even turn the Droid X into a mobile hotspot. The 4.3 inch touchscreen has multi-touch input. The built-in video camera involves 720P recording and playback in high definition. The Android operating system will consist of support for Flash 10.1 programs.

The Verizon Droid X project center

The number of projects you are able to finish with the Droid X are the popular things. Verizon doesn’t throttle data or have a data-limiting plan, so Verizon is marketing the Droid X as the "anti-iPhone". Verizon’s Droid X marketing campaign is built around the idea the phone is a “mobile media center with your pocket.” The numbers of the Droid X phone seem to say that the phone might just be capable of doing just that. The app store for the Verizon Droid X involves hundreds of thousands of apps.

Projects with Droid X

The Verizon Droid X might just make your day a lot more productive and less costly. This all comes with a heavy outlay though — $ 200 with a two year contract, including a $ 30-a-month add-on data package.

General McChrystal publicly rips administration in Rolling Stone

General Stanley McChrystal is being called on the White House carpet after a magazine article released this week quoted the general criticizing the Obama administration and its Afghanistan strategy with his staff. McChrystal and Obama meet regularly to discuss Afghanistan via videoconference. But after the Rolling Stone McChrystal profile broke, Obama demanded to see him this time in person. This isn't the very first time that in public the general has bad mouthed administration.

Article Source: General McChrystal publicly rips administration in Rolling Stone by Personal Money Store

McChrystal and his Obama contempt

In the article, General McChrystal and his staff reveal their contempt with various officials carrying out the administration’s Afghanistan war policy. As outlined by Fox News, the article in this week’s Rolling Stone quotes McChrystal making disparaging remarks about President Obama, mocking Vice President Joe Biden, feeling “betrayed” by U.S. Ambassador to Afghanistan Karl Eikenberry, and also recalling how Obama looked “uncomfortable and intimidated” by a roomful of military officers. Someone who is an aide to McChrystal also calls National Security Adviser Jim Jones “a clown” who remains “stuck in 1985.”

Rolling Stone fallout with McChrystal}

General McChrystal will attend a White House meeting with Biden and numerous of the other advisers with whom McChrystal mocked within the article. The general has fired Duncan Boothby, the press aide who booked the McChrystal Rolling Stone interview. According to the Washington Post, timing of the Rolling Stone article by freelance journalist Michael Hastings could hardly be worse. With little but bad news coming out of McChrystal’s Afghanistan war and increasing casualties, U.S. lawmakers are increasingly skeptical about the U.S. Afghanistan strategy. In the meantime, the Associated Press reports that Afghan President Hamid Karzai strongly backs McChrystal in Afghanistan and hopes Obama doesn’t choose to replace him.

General McChrystal does it again

This has happened before. Last year following the general’s evaluations and recommendations for the Afghanistan war were made public, he gave a speech in London openly criticizing administration officials, vice president Joe Biden in particular, who disagreed with him. On that occasion McChrystal was called on the carpet of Air Force One in Copenhagen, where the president traveled to speak about Chicago’s bid to host the Olympics within the future. The New York Times reports that General McChrystal has apologized for his remarks, saying the article was "a mistake reflecting poor judgment and should never have happened."

Additional details at these websites

Fox News

whitehouse.blogs.foxnews.com/2010/06/22/obama-summons-his-top-general-in-afghanistan-back-to-white-house-after-disparaging-remarks/

The Washington Post

washingtonpost.com/wp-dyn/content/article/2010/06/22/AR2010062200813_2.html?sid=ST2010062200900

New York Times

nytimes.com/2010/06/23/world/asia/23mcchrystal.html?hp

Elon Musk of Tesla, Space X and Iron Man - no cash in divorce case

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

Source for this article: Elon Musk of Tesla, Space X and Iron Man – no cash in divorce case by Personal Money Store

Divorce won't cramp Elon Musk's style

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

Elon Musk – Iron Man of tech

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

Justine Musk wants a divorce

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

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

Without cash, Elon Musk just has assets

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

Read a lot more on this topic here
New York Times

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

Autoevolution

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

VentureBeat

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

What the Sony Dash doesn’t and does

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

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

Sony Dash features

The tech specs of the Sony Dash first of all. The device is plug-in only (though Sony says a battery version is coming). There is a seven-inch touch screen, with power and “snooze” buttons along the top. 800 x 480 pixels are within the display. The processor has 500 MHz and has 256 MB of RAM. You will find WiFi connections and it also has built in stereo speakers. There is a Chumby-based interface with the operating system is Linux.

The Sony Dash and what it does

The Sony Dash is essentially intended as a “first glance” alarm clock and media center. Along with Youtube videos, the Sony Dash will play Pandora and Netflix.Depending on some of the other developed applications you download, you may be able access Facebook and Twitter also.In order to use the applications, you’ve to have wireless internet inside your house. The Sony Dash is just an costly alarm without wireless internet.

What the Sony Dash doesn’t

The Sony Dash does have its limitations. First, the Dash does not have a battery – which means you are stuck next to a power outlet. Second, there is no programming solution for streaming or downloading your own content; you can only stream things off the internet. Third, the Sony Dash does not log you into all your preferred applications; you may have to go to your Sony Dash account on a computer to do so.

Who to get the Sony Dash for

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

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

Small businesses could be able to qualify for new small loans

With an estimated cost of $ 7 billion over the last 10 years, Congress has passed a package of small business stimulus measures. This should be able to spur lending, increase tax cuts, and provide new equity financing. This bill is in response to the increasing costs that come from starting a business, and will be overseen by the Treasury’s inspector general.

Resource for this article: Small Businesses to qualify for new small loans Personal Money Store

Taxes cut by small business bill

The small business bill is a combined bill that closes tax loopholes and renews tax cuts for small businesses. There would be $ 3.6 billion in tax breaks for small businesses to be implemented over the next decade. The tax breaks can be paid for by increases in tax for large businesses. Startup expenses for a small business could be deducted from their taxes. This provision of the bill began as a separate measure in Congress, but is being combined as it is sent to the Senate.

Small businesses to see extra money

The small business lending bill would create 3 major avenues for small businesses to get money. First, there would be a $ 30 billion fund of “preferred stock” that banks would be allowed to tap based on their lending to any of their farms and small businesses. There would also be $ 2 billion given to states to help increase state-funded loans to small businesses. Third, the Small Business Administration would be authorized to match $ 1 billion of private investment in startups.

Paying for the small business bill

In order to pay for the estimated $ 7 billion cost of the small business loans bill, the government will be increasing some taxes. Specifically, tax breaks for Grantor-Retained Annuity Trusts can be rescinded. Also, there can be taxes on the sale of some stock that would be increased to the point of standard income taxes as opposed to capital gains taxes.

Vote on the small business bill

The small business bill has passed the house on a 241-182 vote. The bill is now being combined with the $ 3.6 billion tax-cut bill that is for small businesses and will go to the Senate. The bill is expected to pass within the Senate. Some Senate Republicans are arguing that this bill is really “another bank bailout” masquerading as a small business stimulus package. Democrats counter that the bill takes a balanced approach to traditional and non-traditional lending for all of the new businesses.

U.S. Postal Service looking for automobile replacement

Most vehicles within the US Postal Service really need this. The automobiles were intended with a 24-year life cycle, and are simply getting old. $ 4.2 billion is what would be required to replace all of the vehicles. Is the replacement going to be the only option?

Article Resource: U.S. Postal Service looking for car replacement By Car Deal Expert

Postal Service and LLVs

LLV stands for Long Life Vehicles and is the kind of truck the Postal Service uses. With daily driving, the trucks had a 24 year life cycle. The 24 year cycle is about to end. The Postal Service Inspector General has said that, over the span of the next eight years, the Postal Service would spend more repairing the automobiles than replacing them.

Repairing USPS automobiles price

In fiscal year 2009, the U.S. Postal Service spent $ 524 million on LLV repair. Generally, repairing the automobiles rather than replacing them has been a good financial decision. The average repair bill for each LLV is about $ 5,600, with some repair bills going as high as $ 40,000. The vehicles don’t usually require any kind of specialized maintenance, though the right-handed driving setup can cause a lot more expensive maintenance at times.

Replacing the LLV fleet

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

Trying to test alternatives for Postal Service vehicles

There is a lot of research going into US Postal Service delivery autos. The USPS has offered a $ 50,000 reward to firms for providing a working prototype of a USPS automobile by August. Letter carriers in many other areas are testing three-wheeled electric vehicles, bicycles, and also some more traditional minivan-style vehicles for delivering the mail, rain or shine.

15 million pounds of pre-cooked pasta affected by SpaghettiOs recall

Last night, Campbell Soup Business put out a SpaghettiOs recall that will probably affect 15 million pounds of the canned pasta product. The SpaghettiOs recall is not because of any reported illnesses, but was issued “out of an abundance of caution.” Three types of SpaghettiOs are integrated in the recall, all because they may contain undercooked meats.

Resource for this article: SpaghettiOs recall affects 15 million pounds of pre-cooked pasta

SpaghettiOs recall products

The three products incorporated within the SpaghettiOs recall are all 14.75-ounce cans, that are stamped with the code EST 4K and a “use by” date between June 2010 and December 2011. The three products are:

• SpaghettiOs with Meatballs with the product code U5
• There's SpaghettiOs A to Z with Meatballs with the product code 4N
• There are the SpaghettiOs “Cars” Fun Shapes with Meatballs with the product code KS.

Inspection of SpaghettiOs recall by Department of Agriculture

The SpaghettiOs recall is being announced in conjunction with Campbell Soup Business and also with the U.S. Department of Agriculture Food Safety Inspection Service. The FSIS was completing a routine safety inspection of the Campbell warehouse that is in Paris, Texas when they discovered that some meats within the SpaghettiOs recall were undercooked. Undercooked canned meats can pose a danger of sickness if eaten.

Cost of the SpaghettiOs recall

The cost of any food recall can very quickly and effortlessly run to the millions of dollars. One can of SpaghettiOs generally sells at retail for about 80 cents. Back-of-the-envelope calculations explain that at 15 ounces apiece, the company is recalling about 16 million cans of SpaghettiOs. They’re offering to refund any SpaghettiOs recalled – which puts just the product cost at $ 12.8 million, retail. Add that to the cost of administering the recall. In other words, one malfunctioning cooker that was not repaired in almost 18 months will cost the business at least $ 13 million if not more. The company’s stock has also been steadily losing value today, though until today it was recovering well from the 2009 stock market fall.

If you were within the SpaghettiOs recall, what you should do

If you were a part of the recall, return the SpaghettiOs to the store where you got them. The store should give you a full replacement or refund. You can also call the Campbell’s hotline at 866-495-3774 for a lot more info.

Passage of climate change bill threatened by cap and trade definition

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

Article Resource: Cap and trade definition threatens passage of climate change bill

Cap and trade definition

The cap and trade definition in the climate and energy bill proposes the government sets a limit on the amount of carbon that could be released to the atmosphere by all of the companies. US companies can release certain amounts of carbon with permits that are given. If companies use less carbon, they can sell unused carbon on the open market. Companies with carbon emissions that exceed their permits must purchase them from cleaner companies offering their leftovers for sale.

National energy policy and cap and trade

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

Carbon emissions limit

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

Cap and trade arguments

Cap and trade legislation has generated bitter disagreements between Democrats and Republicans over the climate and energy bill and national energy policy. CBS News reports that cap and trade makes the future of the climate and energy bill uncertain because it will make energy more expensive. The parties disagree on how expense this will be. The U.S. Department of Treasury says the total in new taxes would be between $100 billion to $200 billion a year.

Costs of cap and trade

The cost of cap and trade per American household would be an extra $1,761 a year. John Boehner has estimated the additional tax bill would be at $366 billion a year, or $3,100 a year per family. Personal income tax revenues bring in around $1.37 trillion a year. A $200 billion additional tax would be just like a 15 percent personal tax increase a year.

Cap and trade with benefits

Cap and trade is about priorities. Some see the issue only in black and white: either reduce the rate of global warming, or protect a fragile economy. Cap and trade can't be that simple. Ecomil.com reports that climate and energy legislation can reduce carbon dioxide by more than 80 percent of 2005 emission levels by 2050 and substantially reduce the rate of global warming. The system plans to create billions of dollars for the government to spend on roads, national parks and personal checks to offset household energy costs.

Trying to catch up with China

What many fear about cap and trade is that if companies and corporations are financially punished for their pollution emissions, consumers will pay the price. Energy doesn’t respond to supply and demand. Utility companies can drive up prices to cover rising production costs. In the mean time, countries like China are really investing in clean energy industries of the future, while Americans sit around arguing about things like cap and trade. No solution is ever perfect, given that any House or Senate bill is full of public giveaways to win votes. Well at least it's a good start.

Find more data on this topic

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

Should you change your oil with suction or gravity?

Getting your oil changed, or changing your own oil, seems like a quite basic process. After emptying out the oil, replace the filter and then re-fill the oil. It's becoming a lot more popular to change your oil with a suction or siphon method, though. What are the basic differences between suction oil changes and plug oil changes?

Resource for this article: Suction vs. gravity – What is the best way to change your oil?

A basic oil change

Emptying the oil out of an engine, until just lately, has relied on gravity. The oil is held in, in general, by a removable plug at the bottom of the engine. The engine drains oil when the plug is removed. Take your car to a mechanic, and this is the method they will likely use. In theory, the sludge and gunk that settles in the oil pan is a lot more likely to get drained out with this system.

Changing the oil with a siphon

Recently, new machines are making an appearance; they use a siphoning or suctioning method to change the oil. Originally intended for boats, these machines attach to the dipstick tube and suck the oil out of the engine. These oil changes work just as well as gravity changes, in theory. Some say that these siphon changes leave the engine cleaner, getting more gunk out of the engine. Others, though, worry the suction method of changing the oil might miss some of probably the most essential parts of an oil change.

Should you try the siphoning oil change method?

In the end, a suctioning oil change will probably work about also as gravity oil changes. You need to always make certain that an oil change consists of a filter change. Feel free to ask your quick-lube place or mechanic which method they use. No matter what type of method is used, it is most essential to just make sure to change your oil.

Repayment of student loans affects ability to get a mortgage

Is your student loan repayment going to affect you getting a house? Not if your payments are on schedule still. Because they do not yet understand how credit and lending works, there are numerous graduates that often get themselves into trouble by blowing off student loan payments. They don't discover any young people who are responsible for building their own credit score. The best way to start is with credit cards and student loans. Most young individuals would think that making credit card payments on time is more essential to a credit history than doing the anything like that with a student loan. But with a credit score a debt is a debt, and debts must be paid.

Article Resource: Student loan repayment affects your ability to get a mortgage By Personal Money Store

Credit scores and student loan repayment

Lenders divide debt into two categories: short term loans and revolving loans. Short term loan are those that require a fixed amount each month like a car loan. Your student loans do have an effect on your credit score, but it doesn't have to always be negative. Student loan debt is viewed a lot more favorably than credit card debt when calculating credit scores. Owing on installment loan hurts more than owing credit cards.

Ratio of debt to income

Whenever you discover the house you need to buy and it's time to apply for a mortgage loan, lenders don't just check out how much money you owe. Your income is really important within the equation. This aspect of a credit score is called the debt-to-income ratio. A couple's or individual's debt, including the new house payment they’re promising to make on time, each single month, should not be a lot more than 35 percent of their total income.

Preparing for a mortgage loan

Before you make an effort to qualify for a mortgage loan, eliminate or minimize as much debt as possible. It won't be possible to settle your student loans right away. Not paying your student loans might affect your life and credit score really bad for numerous years just as much as much as defaulting on a mortgage. Students have been given a number of opportunities to aid them when they need just a little bit of help in the repayment process.

The many choices for student loan repayment

In the interest of preventing a growing trend of student loan default, numerous student loan repayment options are always available to graduates. Normally, loan repayments are on a monthly basis. An extended repayment program can stretch to 25 years, but keep in mind that this approach increases the total amount of the interest over the life of the loan. Graduated student loan repayment programs start with interest-only payments for all of those borrowers who anticipate making increasing financial progress, which most graduates do. Along with interest over the life of a loan, payments increase.

When the mortgage must wait

If you find yourself in real trouble when it comes to making your student loan payments, there are solutions to solve the problem. However, they won’t help when it comes to applying for a mortgage. Numerous recent graduates who are having a hard time finding any kind of job in the current economic climate opt for the income-sensitive repayment program. This is for individuals who don't make enough to cover their loan payment. An arrangement is generally made for a payment between 4 percent and 25 percent for the first five years and again the interest increases over the life of the loan. You might consider consolidation repayment choices. It allows student loan borrowers to combine multiple loans into one, extend the repayment term and sometimes lower the payment.

Find more details on this topic

Usnews.com
usnews.com/usnews/biztech/tools/modebtratio.htm
About.com
financialplan.about.com/od/creditdebtmanagement/qt/how-to-get-out-of-debt.htm
Student loan borrower assistance
studentloanborrowerassistance.org/repayment/repayment-plans/

debt consolidation is easy with personal installment loan online

Cash for anything you need is accessible through a personal installment loan. The best place to get personal loan is online, where you’ll find the best terms and most choices. Personal loans could be used for all types of financial needs. If you are able to arrange a lower monthly payment than you make on credit card debt, personal short term loans can be a useful approach for debt consolidation or relief. With secured personnel loans the lender will require you to provide some kind of collateral.

Article Source: Practical debt consolidation – personal installment loans for bad credit online

Loans for a bad credit score

Just about anyone; poor credit, short credit history or no credit record yet- can find personal loans available online. You are able to qualify for a personal loans in all these cases. The rate of interest will be higher and the term shorter, but once you get a personal loan and always make the payments on time, you will boost your credit rating and future loans could be easier to get, with better rates and terms.

Instant money no credit check

Instead of lender-specified uses for car or home loans, a borrower is free to use an online personal loans for anything. Any financial need you may have: vacations, car repairs, school expenses, unexpected medical bills, emergency home repairs can be addressed by setting up a personal loans online. The maximum loan amount for an unsecured personal loans online depends on the lender's personnel loans guidelines. As well as the money, the best part about an unsecured online personel loans is that you get the money with your account right away.

Relieving debt online with loan consolidation

Debt consolidation and debt relief are some of probably the most practical reasons to get a personal cash loan online. Consolidating debt by using these loans to pay down other loans is how it's done. Reducing monthly expenditures is the overall goal of debt consolidation. That's why you make sure the monthly payment is less than all the payments you're making now before you take out an online personal loan.

easy credit repair online

Getting a personal loans online for debt consolidation is a sound solution for credit repair.A set monthly payment will free you from the endless minimum payment trap of credit card debt. But only if you go for the shortest term possible and only borrow as much as you need. Longer loan terms make for more expensive loans. And with discipline, you won't set yourself back by creating more debt. Never apply for a personal loan online for debt consolidation until you make an honest commitment with yourself to stop spending a lot more than you earn.

Read a lot more on this topic here

articles.moneycentral.msn.com

www.ehow.com

www.usnews.com/money/blogs/my-money

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

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

Article Resource: Low retail sales, rising consumer confidence calm volatile stocks By Personal Money Store

Commerce Department and retail sales

On Thursday, retail sales derailed the optimism of a late stock market rally. The New York Times reports that Wall Street indexes fell Friday morning after the Commerce Department reported that retail sales decreased 1.2 percent last month, the largest drop since last fall. Five of 13 retail sales figure categories in the report decreased with one of the largest drops in building materials at 9.3 percent. Excluding all of the sales to commercial fleets (overall auto sales increased in May), retail auto sales were down 1.7 percent.

Stock market volatility week

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

Forecast beat by consumer confidence rate

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

Retail sales and silver lining

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

Read more on this topic here

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

BP escrow fund – will it help get payments out more easily?

A BP escrow fund has been created by BP executives and also the Obama administration. The BP escrow fund can be used to pay the damages from the oil spill. Victims of the oil spill could be paid for lost income and other damages. The $20 billion figure is not a cap, though some are questioning whether the escrow fund is going to help or hurt efforts to stop the gusher and clean up the environmental, political and economic mess.

Article Source: BP Escrow fund – Helpful or hurtful By Personal Money Store

BP escrow will not be a cap

Cleaning up the BP oil spill and restoring lost income could cost as much as $ 100 billion. Obama advisor David Axelrod assured the public today that "this is not a get-out-of-the-situation-free card.” Administration officials have also said that if the BP escrow fund ends up not being enough cash to pay damages, BP will still be held responsible for the cost.

Fineburg tapped to administer BP escrow fund

Currently serving as the “pay czar” of TARP fund banks, Kenneth Fineburg is being tapped to administer the BP escrow fund. A lawyer, Kenneth Fineburg has experience in administering disaster escrow funds – he administered the victims’ fund for the September 11, 2001 attacks.

BP escrow fund addresses complaints

BP's claims process has garnered complaints, which increased calls for a BP escrow fund style system. BP has paid some claims, but by no means all of them. Some oil spill victims have been asked to provide up to three years of documentation of their income.

Will distraction ensue from BP escrow fund?

Some politicians are questioning the timing of the BP escrow fund. In 2009, BP reported $ 5.6 billion in operating profits. The BP escrow fund is a bad idea, according to governor of Mississippi Haley Barbour. She expressed a concern that BP may consider it case closed once they pay into the fund.

Sources:

NowPublic.com

ABC News

AP News

With one notable exception, Father’s Day gifts to be avoided

Father’s Day gift ideas are a lot harder to come up with than Mother’s Day gift ideas. Men aren't hard to buy for. It's that men don't care whether they get a gift or not. Most men just want a one day getaway from fatherhood for a gift. A round of golf with the fellas or a romantic evening with the wife could be appreciated more than one more tie, barbecue utensils, cheap gadgets or knick-knacks.

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

Gift ideas to stay away from for Father's day

All on the internet you discover gifts to avoid. Jessica’s Coupons gets a lot of hits by featuring junk like a basting brush that looks like a forked twig with two sets of bristles. Then there’s the mini charcoal grill for $50 that looks like one you can buy at the hardware store for $30 — except it comes in six colors. Or how about a package of cheap cologne in containers that look like Cuban cigars for Father’s Day ? Then there’s the cocktail stir sticks that are shaped like guitars — and last but certainly least, the eco-friendly coffee cup.

Cheap Father’s Day gift ideas

This year there can be many individuals needing cheap Father's Day gifts. If you’re looking for a great no-cost gift, Dad would probably settle for not having to mow the lawn for a week or two. Some suggestions are given by Savings.com. Numerous of the gifts are homemade. Although they may not cost money, think twice about shooting a video of the kids telling stories about dad or describing their preferred things about him. Kid's hate this. Breakfast in bed is a bad idea too. Also, don't let children bake cakes or pie.

Father's Day and getaways

It is always a good idea to do a Father's Day getaway. About.com has on there a whole bunch of Father’s Day getaway suggestions, but the site is off when it suggests the children have to come along. The last thing you think of when Club Med comes to mind is a family gathering. It looks like a great place — but not on Father’s Day. Other family Father’s Day getaways consist of golfing spas in Pennsylvania and a Huck Finn festival in Victorville, Cali.

Spending Father's day in Las Vegas

When it comes to Father’s Day getaways, you can’t go wrong with Father’s Day in Las Vegas. This gift could be costly but it is surely one that a father can put in his "gifts he loved" category.

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

Discover more details on this topic

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

Arlington National Cemetery cannot keep bodies sorted

Running a cemetery is a a lot more difficult business than numerous people assume, particularly a cemetery like the Arlington National Cemetery in Virginia. Unfortunately, Arlington National Superintendent John Metzler and his deputy Thurman Higginbotham are being fired also as swapped out after a series of scandalous mix-ups involving mislabeled graves and at least one service member’s body being buried on top of one more, the Pentagon told MSNBC. In addition, Higginbotham is being investigated for very maybe hacking computer files of a previous Arlington National Cemetery employee.

Resource for this article: Arlington National Cemetery can’t keep bodies sorted

Arlington National Cemetery didn’t possess a body database?

Metzler and Higginbotham were belittled heavily for not having an electronic database of the gravesites at Arlington National Cemetery and instead relying upon paper records. This weighed heavily on Secretary of the Army John McHugh’s mind while he made the move to write off the two people. A new position is being created to be the person to oversee Arlington National procedures.

For 42 years, John Metzler has been a government employee. He served for 19 years as the Arlington National Cemetery superintendent. His father preceded him as Arlington National Cemetery superintendent.

’Does everyone run a perfect organization?’ questioned Metzler

John Metzler admitted mistakes, but he clarified to the media that they are not malicious. While military rank and salary are not easy to come by, some would indicate that John Metzler, with a lot more than 18 years of service within the military, would make at least $3,454 each month according to the standard military pay table (if he is the equivalent of at least O-1, first-level officer rank). He probably makes at least $2,000 to $3,000 a lot more per month as the equivalent of a higher officer rank, although this is speculation.

Was John C. Metzler Jr. earning his pay?

No matter what the case many actually be, from John McHugh’s point of view, Metzler had failed to earn his salary, in light of the surprising events. Not only that, but John Metzler saying that “nobody’s perfect” and telling the media that some of the difficulties occurred before he started working at Arlington National Cemetery are errors that are simply inexcusable in such a high-profile position funded by taxpayers. That doesn't even consider the responsibility to tend the honored military dead.

Is the Arlington National Cemetery running out of room for individuals?

Is this because of burial anomalies? In its 200 acres, Arlington National has more than 300,000 buried. That does not take into account the special vaults that carry more than 40,000 total niches for cremated remains and will soon be expanded to 100,000. As Arlington National averages 28 funerals per day, 6,900 per year, it’s very likely that space will become an issue. Burr Oak Cemetery, a privately owned cemetery in Alsip, Illinois, had this exact same problem, and some employees resorted to less-than-respectful means of dealing with the situation Burr Oak Cemetery, a privately owned cemetery in Alsip, Illinois, had this problem, and some employees resorted to horrible means of dealing with the situation. Here’s hoping that Arlington National Cemetery will fix any administrative problems and continue to s! erve The US within the honorable fashion it has given that its official designation on June 15, 1864, by Secretary of War Edwin Stanton.

A lot more details on this topic

MSNBC.com

msnbc.msn.com/id/37612199

Arlington National Cemetery

arlingtoncemetery.org/visitor_information/anc_facts.html

WashingtonExaminer.com

washingtonexaminer.com/nation/arlington-cemetery-superintendent-retiring-95922519.html

Military pay chart

docs.google.com/viewer?url=http://www.dfas.mil/militarypay/militarypaytables/2010WebPayTable34.pdf

Housing market not responding – mortgage rates near record lows

This week the mortgage market hit the lowest levels. Shouldn't low mortgage rates be good news for the housing market? Shouldn't it be better news also when thinking about how sales were up in April? But despite the attractive mortgage rates, mortgage applications went down quite a bit after the home buyer tax credit deadline April 30. Plus, numerous homeowners are nevertheless out of work, more than 1 million more foreclosures are likely to occur and banks nevertheless have yet to put the homes they’ve already taken back on the market. The housing market recovery could have to wait. The market might still get worse.

Article Source: Mortgage rates near record lows – housing market not responding By Personal Money Store

Trends in mortgage rates

The average mortgage rate dropped to 4.72 percent this week, down from 4.79 percent last week, according to mortgage finance company Freddie Mac The average mortgage rate dropped by around 4.72 percent this week, down from 4.79 percent last week, according to mortgage finance company Freddie Mac . It was above what was set last December in 4.71. All of the mortgage rate trends point even lower than that. The average rate on a 15-year fixed-rate mortgage hit 4.17 percent, down from 4.2 percent last week and also the lowest on record given that August 1991. The US housing market nevertheless isn't responding. The Associated Press reports the market is struggling without a tax credit of up to $8,000 for first-time buyers, which expired at the end of April. A campaign by the Federal Reserve to cut back borrowing costs for consumers pushed mortgage rate trends down to extraordinarily low levels last year. Rates were expected to rise after the program ended this spring, but h! ave fallen instead over the past two months.

The mortgage rate forecast

The mortgage rate forecast will create an economic setback. A jobs report that was released last week showed that private sector hiring was practically non-existent at 41,000 jobs. Investors worried about the stock market shifted money into the safety of U.S. Treasury bonds. It was reported by the Los Angeles Times that investors have rushed to purchase Treasury securities since late April, within the process driving market yields on the bonds sharply lower. Investors bought $21 billion of the securities at a Treasury auction that occurred on Wednesday, despite the fact that they are paying just 3.20 percent. That has surely pushed down the yield on US treasury debt. The mortgage rate forecast tends to track that yield.

Predictions of the housing market 2010

With mortgage rates at near record lows, the number of customers applying for a mortgage to buy a property fell to the lowest level in 13 years last week and was down 35 percent from a month ago, as outlined by the Mortgage Bankers Association. As outlined by MarketWatch, any housing market recovery will likely continue to be slowed by additional homes on the market from “shadow inventory” and “sidelined sellers.” We called foreclosed homes not yet on the market shadow inventory. There are also severely delinquent homeowners who have not entered foreclosure yet. This year or next, it is expected that foreclosures will peak.

Housing market recovery on hold

Sidelined sellers are individuals who want to sell their homes but are waiting for the housing market recovery before trying. It was reported by MarketWatch that about 7 percent of homeowners — representing more than 5 million homes — fall into this category. They may have to wait for a while. In May the US unemployment rate was 9.7 percent. Numerous of the salaries are frozen or cut. In a National Foundation for Credit Counseling survey of a lot more than 2,000 consumers, 49 percent said if they tried to purchase a home they’d never be able to conserve enough money for a down payment. People underwater on their mortgages, about 25 percent of borrowers, can’t get the financing to move to any other kind of house. People who are purchasing for mortgages aren’t only worried about getting a home, but additionally their ability to keep it. Doug Duncan, chief economist at Fannie Mae, told MarketWatch that within the long run, that attitude is a goo! d thing for the economy.

We're finally getting good news.

Additional details at these websites

Associated Press
google.com/hostednews/ap/article/ALeqM5hPHFMSZDHZNqzg3uDQ1tvmGdoq4wD9G8FSG00
Los Angeles times
latimesblogs.latimes.com/money_co/2010/06/treasury-bonds-yields-rally-economy-auction-austerity-pimco-gross.html
Marketwatch.com
marketwatch.com/story/the-housing-market-recession-is-not-over-2010-06-09?pagenumber=1

Re-refined oil basics

We all know that we are intended to change the oil in our cars regularly, but other than natural or synthetic, most individuals do not typically think about what oil goes in or comes out. Re-processed oil is engine lubricant that is what it sounds like — used oil that has been re-refined for reuse. How exactly is re-refined oil made, and is it safe for use inside your car?

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

The re-refining oil process

Petroleum oil does not wear out. It gets dirty instead. The additives in the oil wear out. Used motor oil is re-refined the exact same way as crude oil. The oil is cleaned, refined and then is re-blended with additives to create a product that is comparable to lubricants created with crude oil.

Your re-manufactured oil needs to be approved

Although it is safe, you need to take some precautions. Make sure that the re-refined oil being used is American Petroleum Institute approved. API-approved oil is generally required under warranty protections, for one thing. API approved oil has also undergone stringent testing requirements that make certain it does what it is designed to. Whether re-refined or not, you will need oil that is API approved. If you use a quick-lube service, check with them that they are using API approved oil, re-refined or not.

The benefits of re-refined oil

Your engine can be lubricated by re-refined motor oil. Used motor oil is considered a toxic waste, and is typically disposed of in a variety of ways. Re-refining oil helps create a closed-loop system, where the nonrenewable resource of oil is constantly re-used. A gallon of used motor oil creates 2.5 quarts of re-refined oil. The byproducts are usually used to power re-refining plants and create asphalt roof shingles. If all motor oil in the United States was re-refined, there would be enough recycled oil to maintain about 8 million vehicles each single year.

Sharron Angle may ride Nevada primary back to Prohibition

In the race for Democratic Senate Majority Leader Harry Reid’s seat, Republican primary winner Sharron Angle from Nevada is riding her tea party credentials in what her supporters hope could be a move to clear the old guard out of Washington. You see, certain statements in Sharron Angle’s political war chest are attracting their fair share of controversy or embarrassment. The LA Times reports that the previous schoolteacher and member of the Church of Scientology first wants to get rid of Social Security for the youthful employed. Admittedly, that may only be semi-controversial, as Social Security isn’t doing so well in recent years. What raises the hairs on the back of right-wing Republican necks are Sharron Angle’s opinions about education, prohibition and spas for prison inmates.

Resource for this article: Sharron Angle wins Nevada GOP primary, wants Prohibition By Personal Money Store

Sharron Angle says no to federal education control

According to her campaign site, Sharron Angle wants the Department of Education to disband on grounds that the federal organization is unconstitutional. Numerous failed programs that make an effort to be everything to everybody don’t work and simply create trouble, she believes. Sharron Angle believes that alternative education choices like home schooling, money now vouchers and charter schools are a better option for Nevada (and America’s) children.

Back with a temperance

Sharron Angle’s views on alcohol are possibly one of the most controversial thing that could hurt her election chances. Alcohol, said Angle in a 2006 interview for Liberty Watch, should be dealt with by law enforcement and the legal system much in the very same way as marijuana, reports Slash Politics. That would make alcohol as illegal as it was during Prohibition. This is particularly odd, considering that Sharron Angle is running out of Nevada, the land of Las Vegas. Angle spokesman Jerry Stacy tried to cover up the damage she did with her statement, but it still hasn’t gone away.

Spa treatments for inmates

Also on the odd side, Sharron Angle has spoken out numerous times against the use of psychiatric drugs, in concert with her Scientologist beliefs. Talking Points Memo reports that her belief in this is strong enough to prompt her to make an effort to “gain support for a prison drug rehabilitation program that would involve prisoners quitting drugs cold turkey, with saunas and massages as part of treatment”. This comes straight from Church of Scientology beliefs, and Sharron Angle has reportedly supported the notion on multiple occasions.

Additional data at these websites

sharronangle.com/

slashpolitics.lvcitylife.com/2010/05/prohibition-and-sharron-angle/

latimes.com/news/nationworld/politics/wire/sns-ap-us-nevada-senate,0,1359536.story

tpmdc.talkingpointsmemo.com/2010/05/sharron-angle-attacked-for-alleged-scientology-ties.php

Stephen Strasburg debut tonight has baseball world buzzing

With an explosive fastball, crackling slider and baffling changeup, former San Diego State ace and number one pick in the 2009 MLB Draft Stephen Strasburg is ready for the large time. His big-time stuff is more than enough to lead the way on most large league rotations. But now the time has come for Stephen Strasburg to start building his legend on the baseball world’s biggest stage: the Major Leagues. His first start can be at 7:05 p.m. Eastern tonight against a Pittsburgh Pirates that is no pushover. MLB.com indicates that this pre-announced start for Strasburg has been sold out for well over a month.

Source for this article: Stephen Strasburg debut tonight has baseball world buzzing

Contrary to reports, Stephen Strasburg does not defy the laws of physics

Clearly, The Washington Post’s recent blog post on Stephen Strasburg which claims that the 21-year-old can bend natural laws with his pitching repertoire is a joke. Legend goes that Stephen Strasburg’s pitches can freeze in midair or blink out of existence and all of a sudden appear behind the hitter’s hindquarters. The point of the humor is to poke fun at just how much hype has been placed on this young man, but the reality is that his has the pitches and also the poise to be successful. Yet all 200 of the press crew at tonight’s Stephen Strasburg start are equally to blame for how far this has gone.

Stephen Strasburg certainly has the numbers

Stephen Strasburg had a Golden Spikes year at SDSU in 2009: 13-1, 1.32 ERA, 195 K and only 19 BB in 109 innings. That was a lot more than enough to merit the Golden Spikes Award as the nation’s top amateur baseball player. After college, Stephen Strasburg was snatched up by the Nationals and kept on rolling at Double-A Harrisburg and Triple-A Syracuse, places that 2010 MLB Draft pick Bryce Harper will see soon.

Innings will be limited, but not expectations

Jim Riggleman and Steve McCatty will limit the number of pitches Stephen Strasburg throws tonight, but that doesn’t equal diminished expectations. A sea of Strasburg T-shirts will no doubt fill the stands at Nationals Park. Fans may go so far as to apply for faxless pay day loan with instant approval in order to finance all of this idol worship. Let’s hope Stephen Strasburg won’t drown in this river of infinite expectation. While there’s little doubt that he has the talent to be successful, this is only Stephen Strasburg’s debut. He should be given time to develop before being christened the guy who made individuals forget about Sidd Finch.

More data on this topic

voices.washingtonpost.com/achenblog/2010/06/stephen_strasburg_debuts_for_n.html

mlb.mlb.com/news/article.jsp?ymd=20100607&content_id=10913962&vkey=news_mlb&fext=.jsp&c_id=mlb

Web indexing delivers new content more quickly – Google Caffeine launch

Wednesday Caffeine, Google's new web indexing system, went live. Announcing the worldwide launch of Caffeine, Google said its search engine technology makes more fresh minted web content available and produces that new content much faster than before. Searchers and web content developers don’t have to change the way they use Google. But links to a broader range of relevant content are now presented much sooner following the content is published. The Caffeine overhaul of the web indexing technology also provides Google a lot more flexibility to keep pace with a web that is evolving at an accelerating rate.

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

Google Caffeine release explains speed isn't everything

Caffeine offers 50 percent of freshwater search results. The common Google user might have a hard time translating that into a benefit. PCWorld tested a comparison of web indexing systems when Caffeine was in development and found that results took .15 seconds on the regular Google search and .09 seconds on Caffeine. Since Caffeine is the regular Google search now, the test can't be repeated. And .06 seconds probably won’t make much of a difference for searchers, regardless how tight the deadline seems to be. Nevertheless, what shows up .06 seconds faster will make a difference for those who work with content publishing.

Real time information publishing

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

Caffeine has astronomical storage capacity

For Caffeine to eliminate the delay between when it finds a page and makes it available needs an astronomical amount of storage. Carrie Grimes said Caffeine indexed web pages on an enormous scale. Caffeine processes thousands and thousands of pages in parallel — every second. Paper pages processed at that rate would stack 3 miles high — every second. Caffeine takes up nearly 100 million gigabytes of storage in a single database and adds new data at a rate of hundreds of thousands of gigabytes per day. You would need to have 625,000 of the largest iPods to store that much info; if these were stacked end-to-end they would go for a lot more than 40 miles. PC World adds the bill from Apple would be $155,625,000.

Attempting to keep up with Caffeine

The Google Caffeine launch doesn’t change content publishing or web search. But some essential information were pointed out by Resource Shelf. Data will be changing locations daily. The Cache and the page is refreshed a lot more often. If a searcher needs content on a page the way it looked at noon on Wednesday, it's smart to make a copy with something like Zotero, a Firefox extension because by 12:15 p.m. on Wednesday the content on the page might change when the cache is updated.

Additional information at these websites

PC World

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

Searchengineland.com

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

Official Google Blog

googleblog.blogspot.com

Truck driving jobs, auto industry jobs show strong upward trend

The high U.S. unemployment rate may be reduced by up to 400,000 truck driving jobs and a shortage of workers in the U.S. auto industry. The U.S. auto industry and also the U.S. trucking industry hemorrhaged jobs during the recession. But jobs in both industries are coming back as the U.S. economy inches toward recovery. The U.S. trucking industry is already seeing driver shortages in some markets. A labor shortage is forecast for the U.S. auto industry as well.

Source for this article: Truck driving jobs and auto industry jobs to surge in near future

truck driving jobs coming back

Nearly 150,000 driving jobs were lost from the U.S. trucking industry within the last two years. But up to 200,000 new truck driving jobs could be accessible this year. Another 200,000 will be added next year, as outlined by the state of logistics report from the Council of Supply Chain Management Professionals. The need for a lot more truck drivers is being created for many reasons, CNNMoney.com reports, including retirements, tougher safety rules to get rid of bad drivers and replacing laid off truckers.

Auto industry jobs demand new skills

Given that 2008, the U.S. auto industry saw 228,000 jobs lost. But trends point toward an addition of about 15,000 jobs this year and up to 100,000 new auto industry jobs a year from 2011 through 2013 as the industry recovers from the recession, as outlined by the Center for Automotive Research|The Center for Automotive Research sees job numbers trending upward as the industry recovers toward about 15,000 in 2010 and an additional 100,000 new auto industry jobs each year through 2013|In a dramatic reversal, the Center for Automotive research forecasts 15,000 new jobs this year and an additional 100,000 a year through 2013 as the industry recovers from the recession}. The emerging new jobs, USA Today reports, won't be filled by the complacent union workers who contributed to the U.S. auto industry's decline. On the factory floor, auto industry jobs are demanding more and different skills, such as computer literacy and also the ability to work with less supervision than! their predecessors. A college degree in related disciplines will most likely be necessary.

A good truck driver is hard to find

Even with a U.S. unemployment rate reported at 9.7 percent, numerous truck driving jobs may not be filled, said Rosalyn Wilson, author of the report featured on CNNMoney.com. If coming home to the family at the end of the day is a quality of life issue, numerous will hold out for something else. Truck driver salaries were at a $ 37, 730 median as of May 2009. Truck drivers, paid by the mile, are expected to make a lot more because of increasing miles and a shortage of drivers.

Find more info on this topic

CNNMoney.com

usatoday.com

GM recalls 1.5 million vehicles - Flaming windshield wiper heater

1.5 million cars were announced Tuesday as being recalled by GM. The GM recall issue is a heated windshield wiper fluid system that has caught fire in a couple of cases. General Motors Co. is recalling numerous of the automobiles for the exact same problem. Technicians at GM dealers will disable the system, made by a vendor who has given that gone bankrupt. Automobile owners plan to receive $100 from the GM recall as compensation for the loss of the feature.

Resource for this article: GM recalls 1.5 million autos – Flaming windshield wiper heater By Personal Money Store

The recall list for GM

The GM recall list includes many different pickup trucks, sport utility autos, crossovers and passenger car models from 2006 to 2009. As outlined by the Associated Press, a 2008 GM recall of more than 900,000 cars addressed the exact same problem. A short circuit could overheat the ground wire. There were reports of some fires. GM said there is no report of injuries or crashes by there were five fires. Nearly 1.4 million autos in the GM recall are in the U.S. and more than 100,000 automobiles are in Canada, Mexico and other international markets.

Shorted out windshield wiper heater

In the 2008 GM recall, dealers installed a fuse that is intended to shut off the system within the event of a short circuit. It was reported by CNNMoney.com the problem in the current GM recall is not related to the one involved in the first recall. Within the five vehicles that caught fire, an analysis showed that apparently the fire, which led to the malfunctioning of other electrical components, is not being stopped by the fuse.

The windshield wiper heater is disabled

After the first GM recall of the wiper fluid heater, GM said it had kept track of the HotShot system made by Micro-Heat. The Detroit Free Press reports that GM withheld payments from Micro-Heat after the first recall to cover its costs, and the business was forced to file for bankruptcy and liquidate. GM explained that because Micro-Heat no longer existed, it could not provide an improved design. For the new recall, dealers will remove the fluid heater and reroute some hoses.

Rebounding from GM bailout, bankruptcy

GM had posted a first quarter profit — the first time it had been in the black given that 2007. In 2009 the GM bailout of a lot more than $50 billion prevented a GM bankruptcy after the business posted losses that were around $6 billion. GM recently repaid a portion of the bailout and there has been radical restructuring to put the company back on the road to profitability. U.S. auto sales for GM brands were up about 17 percent compared to May 2009. GM's sales gains were led by a 32 percent rise in sales of four of the brands that survived its bankruptcy filing.

Brands on the GM recall list

GM will start sending letters to owners later this month. Within the meantime, individuals who own the GM brands on the recall list below can contact their dealer to have the heated washer system taken off their car.

Buick Enclave, 2008-2009
The brand Buick Lucerne, 2006-2009
The brand Cadillac CTS, 2008-2009.
Cadillac DTS, 2006-2009
Cadillac Escalade, 2007-2009
The brand Cadillac Escalade DSV, 2007-2009
Cadillac Escalade EXT 2007-2009
Chevrolet Avalanche, 2007-2009
The Chevrolet Silverado 3500 2007-2009
The brand Chevrolet Suburban, 2007-2009
The Chevrolet Tahoe, 2007-2009
The brand Chevrolet Traverse, 2009
The GMC Acadia, 2007-2009
The GMC Sierra, 2007-2009
The GMC Yukon, 2007-2009
The brand GMC Yukon XL, 2007-2009
The Hummer H2, 2006-2009
Saturn Outlook, 2007-2009

A lot more details on this topic

Associated Press
google.com/hostednews/ap/article/ALeqM5jgT-fFgV3QIGddh2EA_7mmZE4wVwD9G7660G0
CNN Money.com
money.cnn.com/2010/06/08/autos/gm_washer_heater_recall/?npt=NP1
Detroit Free Press
freep.com/article/20100608/BUSINESS0101/100608018/1210/BUSINESS01/Fire-prone-wiper-fluid-gear-sparks-GM-recall

Amendment for quick payday debit card hits consumers in their wallet

Former White House Press Secretary and current Fox News commentator Dana Perino warns numerous of the consumers that there’s trouble brewing in Congress. This trouble could make debit card purchases considerably a lot more expensive. It will really affect nearly all consumer purchases and debit card interchange fees can be the cause, claims Perino.

Article Resource: Extra cash debit card amendment hits consumers within the wallet By Personal Money Store

Debit card interchange fees mean fast cash for banks

Courtesy of an unheralded amendment to the financial reform law as it is being pushed by Illinois Senator Dick Durbin, the Federal Reserve would take control of cash until payday loan debit card interchange rates. As Dana Perino says they are, an interchange rate is “money that a retailer’s bank pays your bank when you use your credit or debit card at their store.” This money is a valuable resource to smaller financial institutions; without interchange rates, it would be difficult for these smaller banks to offer basic services to their customers.

If the Federal Reserve were to cut off the income stream, smaller banks would have no choice but to pass on the cost to customers. In numerous of these cases, this would drive them to larger, more impersonal banks that won’t have as much competition and can charge a lot more for credit services. All of the consumers who balk at this could have to rely on cash, checks or fast short term personal loan for their transactions, which offer no insurance on the back end in the event of fraud.

Financial reform advanced by Dick Durbin's amendment

Dana Perino also paints the picture for any consumers. If debit card transactions cost them more, imagine what retailers would do. Customers may have the cost passed to them. Most retailers already do this. In addition, no-fee checking would probably end up dying off, along with various rewards programs as banks look to make up for income lost following the Durbin amendment.

Controls on price don't work

Price controls haven't worked in the past. The blog Wizbang uses the example of gas prices in Hawaii. Dana Perino points to Australian legislation from 2003. Then the retailers decided to charge more for plastic and has continued that way. What Perino is wondering is how something like the Dick Durbin amendment can sneak in without much attention, and will these consumers have to depend upon fast cash unsecured personal loans with no credit check a lot more often.

Citations

Fox News
foxnews.com/opinion/2010/06/04/dana-perino-dick-durbin-senate-amendment-federal-reserve/
Wizbang
wizbangblog.com/content/2006/05/08/why-price-controls-dont-work.php

What you need to know about an overheating engine

An internal combustion engine is not particularly efficient. Even the most efficient gas-run engines use only about 38 percent of the stored energy of gas for powering the car – the rest becomes waste heat. Engines are designed to operate within a relatively narrow range of temperatures, and if an engine overheats, it can cause all kinds of damage.

Resource for this article: The basics of an overheating engine By Car Deal Expert

The anatomy of an overheating engine

When an engine starts overheating, a cascade of things start to go wrong. A normally-functioning engine will run between 195 and 220 degrees F. Above 220, an engine will start to misfire. At 250 degrees, rubber and plastic parts of the engine start softening. At 265 degrees, most of the metals in the engine will start to soften and stress. The radiator might also burst after long periods of high temperatures.

If your engine overheats, what should you do?

Most engines have a dial or gauge that will show you at least the general temperature of the engine. You should keep as close an eye on this gauge as you do on the fuel. Pull over immediately if the engine stays consistently above 225 degrees.Take a look at the coolant levels in the engine. If the levels are low, top them off with coolant or water. As soon as you possibly can, have the engine checked out by a mechanic. Wait for the engine to entirely cool off before you take off the radiator cap – otherwise, it could shoot off and cause you an injury.

What may be causing an overheating engine

An internal combustion engine has a number of places where the temperature balance could be thrown off. The 5 most common engine-overheating causes are:

• Cooling system leak – most effortlessly found with a pressure test.
• Issues with the thermostat – depending on the model of your car, this might be computer-controlled or mechanical.
• Cooling fan – see if it is nevertheless working, and if the fan clutch is operational.
• Blocked radiator intake – if dirt and grime blocks the radiator, it can overheat.
• Overworked engine – if you’re working the engine hard with an extra-heavy load, towing or driving fast on mountains within the summer, your engine may naturally overheat.