Even with personal finance savvy rising, high credit card debt persists

Americans seems to be more educated about credit than they were before the recession; however, their knowledge about personal finance isn’t resulting in better decisions about credit and lending. A survey will tell us that most Americans know the interest rates they are paying on their credit card and they know their credit rating. Even so, they carry high interest credit card debt and many don’t know how to improve their credit scores.

Resource for this article: Personal finance savvy rising, but high credit card debt persists by Personal Money Store

The personal finance know-how is no good

A survey of personal financial knowledge by Harris Interactive on behalf of Lending Club explains to us that Americans still aren’t making the most of hard-learned instant cash credit lessons learned during the recession. Adults unaware of their credit score came in around 31 percent, compared to the 45 percent who didn’t have a clue in 2007 according to a Bankrate, Inc. survey. Fewer adults (22 percent) who use a credit card don’t know the interest rate on the credit card they use most often (compared to 29 percent who reported not knowing in 2007, as reported by a National Foundation for Credit Counseling survey that was done).

Credit card debt prevails

Credit card companies are probably glad to know that of those adults who do know the interest rates on their cards, the survey shows 31 percent have an interest rate of 20 percent or more and 64 percent pay 14 percent or more. Although 93 percent of credit card users know it’s possible to negotiate for a better rate, only 29 percent have ever tried to. Although closing a credit card account negatively impacts credit score, 18 percent believe it increases your credit score; 27 percent believed it has no impact. For those with debt other than a home mortgage, credit card debt is the most common type of debt overall (around 67 percent) and is the most expensive type of debt to carry.

Advice given on personal finances

To gain a lot of knowledge about personal finance, AOL Money Coach Jennifer Openshaw has advice for consumers who want to be smarter when it comes to credit. Find out about your card rates. Once you do, find out about lower rates. About 68 percent of those who ask for a lower rate are successful and build confidence in their financial savvy as well. Start with a target rate in mind, be assertive and ask for the supervisor if necessary.

Know what affects your credit score

Openshaw makes the suggestion that you learn what affects your credit score. Know that closing older accounts reduces your balance-to-credit card limit ratio, which may actually lower your score. If you have trouble controlling your credit card spending, it could be better for you to take the temporary hit to your score so you have fewer sources of temptation. Finally, you should probably cut your costs on current debt, consider paying off all your debts with one lower interest rate bank loan, but don’t do it on a credit card.

Citations

Bankrate Inc.

bankrate.com/

National Foundation for Credit Counseling

nfcc.org/

Jennifer Openshaw

coaches.aol.com/money/jennifer-openshaw

Monitoring driving routines - Is the tiwi worth it?

The tiwi seems like the perfect solution for teen motorists. The little on-board pc monitors predefined “dangerous” behaviors and notifies each the driver as well as the mother and father of this dangerous activity. Originally developed for fleet drivers, the tiwi is now becoming marketed to parents of teen motorists. Is this small pc really worth the cost and work?

Resource for this article: Monitoring driving routines – May be the tiwi worth it

Tiwi and just how it works

The tiwi unit is a small pc that connects to the diagnostic port on most cars. The pc analyzes seatbelt use, zealous acceleration and other “dangerous” driving behaviors. That details is to be combined with GPS coordinates about the unit to create a complete picture from the driver’s actions. Following certain pre-set activities, the unit vocally reminds the driver of the mistake that was made, and sends a notification to some pre-set telephone, e-mail or sms program.

The tiwi benefits

The tiwi can be useful to all. It can help prevent accidents by teen motorists. It is also helpful for parents to track the actions of a car. In fleet-driving situations, managers and bosses can be capable to maintain an eye on the activity and conduct of their staff. In short, the tiwi helps 1 individual keep track of an additional as well as offers reinforcement of good driving behavior.

The drawbacks of tiwi

The tiwi program is intended for really helpful purposes. It raises questions of protection of privacy and safety, nevertheless. Because tiwi connects directly to cell-phone networks and also towards the computer’s diagnostic port, there’s a possible for vulnerability to hacking. There’s also a “big brother” part of each and every movement of a vehicle being tracked. For staff driving company vehicles, this may not be as large of an issue – but for any 17- or 18-year-old driver, it might be slightly more sticky. Within the end, the tiwi might be really helpful, but it’s worth carefully considering whether the $ 200 initial cost and $ 40 per month subscription charge is worth it for your family.

New princess in Monaco - Charlene Wittstock engaged to Prince Albert

Olympic swimmer Charlene Wittstock has officially announced her engagement to Prince Albert II of Monaco. Both members of the couple are athletes that have competed within the Olympics. There is no wedding date yet, but it is sure to be a huge celebration fitting of the wealthy country.

Article Resource: Royal Olympians – Prince Albert and Charlene Wittstock engaged by Personal Money Store

Engagement of Prince Albert and Charlene Wittstock

Prince Albert II, the son of Princess Grace Kelly and Prince Rainier III, has been the head of Monaco since 2005. Charlene Wittstock met Prince Albert of Monaco when she was competing as a swimmer. Monaco has been the home of Wittstock, a teacher and Olympian, since 2006. No official date for the wedding has been set, though tradition requires a waiting period of at least six months.

Monaco's royal wedding

The prepared wedding between Wittstock and Prince Albert II will be the first royal wedding since 1956. The official heirs of Monaco can be the children that come out of this marriage. Prince Albert has admitted paternity of two kids, though both are illegitimate. Monaco's ruling body has re-affirmed in the last few years that illegitimate children aren’t in any way eligible for royalty status.

The big party in Monaco

Monaco is an independent city-state in Europe. The country is bordered on three sides by France, which is financially and socially responsible for the defense of the country. The small country has just about 33,000 residents, and acts as a “European Las Vegas". Wealthy individuals tend to move to Monaco, given the fact there is no income tax. The GDP of the country is about $ 6.5 billion. In short, that means that the royal wedding of Prince Albert and Charlene Wittstock is certain to be an expensive, elaborate affair. Much like the recent royal wedding of Sweden’s Princess Victoria and Daniel Westling and also the expected marriage of England’s Prince William and Kate Middleton, this wedding will certainly live up to the public’s expectations of spectacle.

Is the Digital Electronic license plate the California hacker’s paradise?

The California State Assembly is considering a bill in the next few days that would green-light “Digital Electronic License Plate” technology. These digi-plates would turn any license plate into a mobile advertising space. With no formal opposition ready to debate any of these plates, are you going to see them on the road within the next year?

Article Source: Digital Electronic License Plate – California hacker’s paradise by Car Deal Expert

What exactly are digital electronic license plates?

The bill making its way through the California legislature gives the DMV permission to work with companies creating these “Smart Plates.” These license plates are small, pre-programmed screens. During normal operation of the automobile (read: driving along the road) the plate displays the license plate number to all who view it. If you stop for 3 or four seconds, it will display something else. The idea is that these plates could be able to display advertising, a personalized message, or anything else that can be put into pixels.

Why the e-plate may be good

The California Assembly is set on the DELP for one reason: budget. A $ 19 billion budget hole has left the state looking for any and each way to bring in additional cash. With a lot more than 32 million registered autos in the state, these e-plates would give advertisers millions of opportunities make an effort to pay the state for advertising. These e-plates would also give the chance for residents to pay more money for some more personalization on their cars. Budget wins.

The Digital license plate being a bad idea

Though the state budget of California may benefit from approving DLEP e-plates, it may eventually cost the state even more money. First, these electronic license plates would change your license plate at the press of a button – certainly attractive to speeders, red-light runners and criminals of all types who could hack their plates to make their numbers obstructed or invisible. Second, would it really be a good idea to turn every vehicle in California into a flashing neon billboard? Which company wants to be the one that causes crashes? Would you want to see more ads in town? There are also property rights concerns. Does the state have the rights to sell space on private property for advertisements the drivers wouldn’t make a cent on?

What do you think?

Steep hikes are being faced by individuals who buy health insurance on their own

Health insurance premiums for individuals who like to purchase coverage on their own are soaring, as outlined by a study released Monday. While lawmakers debated the health care reform bill, health insurance companies were busy trying to make as much money as they could before the law’s provisions kick in. Individuals facing sharp increases in their insurance premiums are trying to save money by settling for fewer benefits and higher deductibles. In the mean time, steadily rising insurance premiums and a drop within the number of employers offering health coverage swelled the ranks of the uninsured by nearly 3 million individuals in 2009.

Article Source: People who purchase health insurance on their own facing steep hikes by Personal Money Store

Health insurance and cost trends

Premium hikes for health insurance for individuals far exceed increases within the premiums for employer-sponsored coverage, according to a new survey on health insurance cost trends from the Kaiser Family Foundation. According to the Associated Press, the non-profit foundation said premium hikes for individual coverage averaged 20 percent. Customers who were able to switch to cheaper plans brought the average increase in what individuals are paying for health insurance down to somewhere around 13 percent. This year’s individual health insurance premium spike tops last year’s 5 percent average increase for employer-sponsored family coverage. Health insurance cost trends for some of the employer-sponsored single coverage held steady.

Pricey medical insurance for individuals

The increasing cost of health insurance for individuals made news earlier this year when Anthem Blue Cross tried to raise its rates by as much as 39 percent in California. It was reported by the New York Times that the Kaiser study sheds light on how widespread these premium hikes are. The New York Times reports that when the proposed Anthem hikes were met with outrage from federal and state officials, there was little info about how widespread such increases were in other parts of the country. Drew Altman, who was the Kaiser foundation’s president and chief executive, told the Times that "The survey shows the steep increases we are reading about over the last several months aren’t just extreme cases."

Healthcare reform a long wait

The Kaiser survey highlights the challenges that about 14 million people who are younger than 65 and purchase their coverage in the individual market will face until changes under the health care reform law kick in 2014. All Americans could be required to have health insurance by then. Within the meantime, 52 percent of respondents in the Kaiser survey who already buy their own individual health coverage said they would keep their current plan next year, when 32 percent said they are not sure. 14 percent said that they would probably switch companies to cut costs.

Health care insurance programs have high deductibles

To try and save many money, individuals are getting plans that have higher deductibles. $ 2,500 is the average deductible. One in four individuals said their plan had an annual deductible of $ 5,000 or more. The number of those with high deductibles rose from 39 percent in 2007 to 47 percent in 2009.

Health coverage being lost by millions

For the 2.9 million U.S. adults who joined the ranks of the uninsured in 2009, health care reform doesn't do very much to help them with their current needs. As outlined by USA Today, in 2009 — the latest statistics accessible — 46.3 million American adults had no health insurance coverage, according to a new report from the U.S. Centers for Disease Control and Prevention. Only 4 in 5 working adults really have coverage. The percentage of uninsured adults of working age climbed from 19.7 percent to 21.1 percent in 2009, and 58.5 percent of American adults went without insurance for at least part of the year.

Read more on this topic here

Associated Press

google.com/hostednews/ap/article/ALeqM5je_4AEzpzQnfbTmeeOg1yUO9jWRgD9GFOU080

New York Times

nytimes.com/2010/06/22/business/22kaiser.html?src=busln

USA Today

usatoday.com/news/health/2010-06-20-uninsured-reform_N.htm

Vehicle replacement being searched for by US Postal Service

Most autos in the US Postal Service really need this. They were designed with a 24 year life cycle and are just getting old. Agency reports say that replacing the entire fleet with similar automobiles would cost $ 4.2 billion. Is replacement the only option?

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

LLVs Postal Service

LLV stands for Long Life Automobiles and is the kind of truck the Postal Service uses. The trucks had a 24 year life cycle. That 24 year lifecycle is coming to a close. The Postal Service Inspector General explained that, over the next eight years, the Postal Service would spend more repairing the cars than replacing them.

The price of repairing all of the USPS vehicles

In 2009 alone, the Postal Service spent $ 524 million on LLV repair. Generally, repairing the automobiles instead of 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 generally require any kind of specialized maintenance, though the right-handed driving setup can cause more expensive maintenance at times.

How to replace 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 that cost a lot more than $ 3,500. It would cost $ 30,000 per truck for straight across replacement.

Trying to test alternatives for Postal Service vehicles

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

Gregory Meeks forgets to disclose $ 55,000 in personnel loans

A huge personal loans is easy to forget, right?. Over $ 55,000 in personal loans appear to have just "slipped the mind" of New York congressman Gregory Meeks. Gregory Meeks, 11 year representative, is a senior member of the House Financial Services Committee.

Article Resource: Gregory Meeks forgets to disclose $ 55,000 in personal loans Personal Money Store

The "oversight" of Congressman Gregory Meeks

The New York Daily News last Sunday revealed that Gregory Meeks neglected to list two cash personel loans on financial disclosure statements. Gregory Meeks refused to provide data on the purpose or progeny of the loans. Meeks received $ 40,000 in 2007 and $ 15,000 in 2008. Both of these loans were listed as “personal quick unsecured loans.” A Queens-area businessman also has one loan to Meeks that is worth "between $ 50,000 to $ 100,000.

The requirements for financial disclosure

Members of the U.S. House of Representatives are required to make extensive financial disclosures. These disclosures are due by May 15 of each year and list assets, liabilities, incomes, gifts, board membership and real estate. Because his disclosure was sent in months late, the 2009 disclosure from Gregory Meeks was questioned. Meeks claims that a very complete overview was the reason it was late. Technically, these disclosures are intended to be public, though the House Clerk and Secretary of State, with whom they must be filed, don’t post these disclosures online.

Will Gregory Meeks face consequences?

Because of his “oversight” of forgetting to mention an extra $ 55,000-plus in personal loans, Gregory Meeks may face discipline. First, he could be charged with a violation of the ethics code under House Rule XXVI. Gregory Meeks' constituents could, legally, bring up legal action against their representative. These "small" cash loans probably won't lead to any charges unless there are additional difficulties or improprieties with the administration of these loans. It could be up to the voters to choose within the next election whether Gregory Meeks should face consequences or not.

Watch for potential auto mechanic scams

When you take your vehicle to an auto mechanic, you should have reasonable assurance that they are reputable and trustworthy, rather than taking your car to someone who is waiting to show you one of many different auto mechanic scams. Researching a mechanic ahead of time via AAA or other industry resources helps. However, being prepared with knowledge of some of the sneaky car repair tricks those mechanics that are less than honest can help you avoid being scammed. Here are just a few things to look for, and none of them need anything more than some basic automotive knowledge. Thanks to WalletPop for some great ideas.

Article Resource: Watch out for these potential auto mechanic scams By Personal Money Store

Auto mechanic scam of spit and polish

A customer's lack of knowledge is what auto scams depend on. A mechanic may say that a part needs to be replaced, but the reality is that they may remove it, clean it up, then simply put it back on the car so that it looks brand new. Easily removed parts like batteries, oil filters and radiators are common targets. Many mechanics claim to have given you a refurbished one. This means they actually did nothing. If you can take the car home first before having repairs done, mark the part in question with a small dab of paint that isn’t easy to spot unless someone knows it’s there. After repairs are complete, ask to see the old part as well as the purchase order for the new one. Match the part and the receipt. If there is paint on this part, it was a scam.

What about manic maintenance

Follow the suggestions from manufacturers for standard maintenance. Look in your owner's manual. The manufacturers know your vehicle model better than anyone, so their recommended specs are authoritative. If a mechanic tries to get you to agree to an oil change, flush or other repair sooner than needed, you’ll have reason for suspicion. Just to be safe, bring your owner’s manual with you when you take your car in for maintenance or repair.

Don't pay for guesswork

If you have ever paid for auto repair that didn’t address the real problem, this tip is for you. Your mechanic needs to be held to a high standard. If they failed to fix it the first time, demand a refund. If these problems continue, get a new mechanic.

Think all about your dipstick

Before going in for repairs, check your dipstick. Do this because this will remind you to watch for an old nickel-and-dime trick some mechanics use. They’ll only insert the dipstick in part of the way, which will give a lower reading. Sure, it may only be $5 or $10, but that’s something. Also, watch for the detached spark plug trick – it could save you from expensive and unnecessary engine exploratory work. While there, don't get new power steering. No manufacturer recommends this according to WalletPop.

Seems doubled over with labor

Repair jobs often lead to another, and then another. Mechanics will double the labor charge sometimes. You should pay the labor cost you were quoted. The mechanic still needs to make money off their time if the job is big. Communicate with your mechanics and make sure they spell out whether additional labor charges will be incurred before you give your consent to proceed.

Citations~More information on this topic~Read more on this topic here~Find more information on this topic~Additional information at these websites

WalletPop

walletpop.com/top5/general/sneaky-auto-repair-tricks/

The related video:

http://www.youtube.com/watch?v=Y4fLfpuXDuM

The BP escrow fund to help payments?

In a private, closed-door meeting, Obama administration officials and BP executives agreed to the creation of a $20 billion BP escrow fund. The company is expected to set aside money within the BP escrow fund. Those that are damaged by the oil spill will be able to make a claim to this BP escrow fund. Some politicians are wondering if this BP escrow fund is really distracting from the real problem.

Resource for this article: BP Escrow fund – Helpful or hurtful By Personal Money Store

BP escrow fund not a liability cap

Estimates for the damages from the BP oil spill vary from as little as the amount of the BP escrow fund up to $ 100 billion. On the Today Show today, senior Obama adviser David Axelrod assured that “this is not a get-out-of-the-situation-free card.” The Obama administration has already said that if the $ 20 billion BP escrow fund is not enough to pay damages, BP can be responsible for a lot more.

Kenneth Fineburg 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

The BP escrow fund is, in part, a response to difficulties with BP's claims process. While some residents say they got checks from BP for their damage claims “within days,” others are saying they have yet to see anything. Oil spill victims, when submitting claims to BP, are told they have to provide three years of tax returns.

Will BP escrow fund distract from spill?

A couple of politicians are wondering if the BP escrow fund is really a red herring. In 2009, BP reported $ 5.6 billion in operating profits. However, Governor Haley Barbour of Mississippi has spoken out against the BP escrow fund. She expressed a concern that BP may consider it case closed once they pay into the fund.

Find out more:

NowPublic.com

ABC News

AP News

UK Office of Fair Trading votes no on pay day loan cap

Payday loan rate cap laws have circulated in various forms through the halls of state-level politics in the U.S. for years. Yet not all nations are so quick to cap the payday loans; they allow the wheels of the free market economy to dictate price. The Guardian indicates that the UK’s Office of Fair Trading (OFT) has opted not to place a rate cap on the nation’s payday loan industry, as doing this would harm competition and inflate prices for short-term consumer credit.

Resource for this article: UK Office of Fair Trading says no to payday loan rate cap By Personal Money Store

Payday loan system functioning ‘reasonably well’

Easy loans and other forms of payday loan credit are beneficial if credit-constrained persons can easily access them. The OFT sees this openness as allowing competition to dictate price within the free market. The level of competition between easy loan outlets may not be as effective as it might be, but the OFT is confident in their assessment that personal loan company markets work “reasonably well”. The OFT has moved forward with their pro-payday loan freedom stance, despite heavy resistance from the Archbishop of Canterbury and a variety of other special interest charity groups. The OFT did recommend that the uncapped UK pay day loans industry could use a uniform set of rules to help protect consumers from the minority of lenders whose practices may border on predatory.

Finance and Lending Association approves of OFT stance

The association’s Head of Consumer Finance, Fiona Hoyle, assured The Guardian that any form of payday loan rate control “would have adverse unintended consequences for consumers, including for the cost and availability of credit”. If governments follow the Office of Fair Trading’s lead regarding rate caps – and take note of the Dartmouth University study in the U.S. on the effects of payday loan rate caps in Washington and Oregon State – perhaps they’ll see just how maintaining competition can aid the consumer while nevertheless allowing easy loan outlets to reasonably profit.

Simply clamping down isn’t really the answer

Marie Burton, financial services specialist at the consumer group Consumer Focus – which operates independently from the money lenders industry – told The Guardian that the OFT has exposed just how hard it is to both promote competition and help drive down consumer cost. While that is the perfect, additional research into the workings of the short-term consumer finance industry within the UK may be necessary. Banks and credit unions have failed to mount serious competition within the short-term consumer lending market in America, but the OFT believes that finding a way to level the field by introducing them successfully to the UK market could be of great benefit to the consumer.

A lot more data on this topic

http://www.guardian.co.uk/money/2010/jun/15/doorstep-lenders-interest-rate-cap/

Bodies can’t be sorted by Arlington National Cemetery

Running a cemetery is a a lot more difficult business than many individuals assume, particularly a cemetery of the size and prestige of Arlington National Cemetery in Virginia. Unfortunately, Arlington National Superintendent John Metzler and his deputy Thurman Higginbotham are being replaced 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 allegedly hacking computer files of a former Arlington National Cemetery employee.

Resource for this article: Arlington National Cemetery cannot keep bodies sorted

No body database at the Arlington National Cemetery?

Metzler and Higginbotham were criticized for not having any kind of electronic database of the gravesites at Arlington National Cemetery and instead relying upon paper records. This weighed greatly on Secretary of the Army John McHugh’s mind as he chose the move to dismiss the duo. A new position could be created to oversee Arlington National operations.

For 42 years, John Metzler has been a government employee. For 19 years he served as Arlington National Cemetery superintendent. John Sr. preceded him as Arlington National Cemetery superintendent.

’Does any person run a perfect organization?’ questioned Metzler

John Metzler said his mistakes weren't malicious. While military rank and salary are not easy to come by, some reasonable supposition would indicate that John Metzler, with a lot more than 18 years of service in the military, would make at least $3,454 per month as outlined by the standard military pay table. A lot more than likely, he makes at least $2,000 to $3,000 a lot more per month, although this is speculation.

Was John C Metzler Jr. actually earning his pay?

Whatever the case many actually be, from John McHugh’s point of view, Metzler had failed to earn his salary, in light of the shocking events. Not only that, but John Metzler saying that “nobody’s perfect” and telling the media that some of the difficulties occurred before he began working at Arlington National Cemetery are errors that are simply inexcusable in such a high-profile position funded by taxpayers. That doesn’t even take into account his responsibility in tending to the honored military dead.

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

Could that be the reason for the sorting and 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, space will probably be an issue soon. 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 issues a! nd continue to serve The US within the honorable fashion it has given that its official designation on June 15, 1864, by Secretary of War Edwin Stanton.

More information 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

SEC regulating peer-to-peer lending

Peer-to-peer lender Prosper has began a debate over the right of the SEC to regulate – or not – their industry. Banks are generally effectively cut out of lending with the peer to peer lending business model – generally used for charity purposes. The SEC calls these companies investment companies, which means the SEC could regulate them. However, one of the two largest p2p lenders is fighting that ruling.

Article Source: Peer to peer lending confounds the SEC

The basics of p2p lending

Peer to peer lending is not entirely unknown – it has been used for microloans to charities within the past. Basically, an investor has direct choice over who they lend money to. Borrowers post requests for loans on the website, including data like their credit score. Investors can peruse these requests, and determine exactly where they want to put their money — and they can loan as little as $ 25. As well as the charity micro lending site Kiva.com, prosper.com and lendingclub.com offer these peer to peer lending programs. These two companies report that, on average, investors get a return of 6 to 16 percent on their investments.

How p2p lenders are regulated

The Securities and Exchange commission presently claims the right to regulate the p2p lending. The argument the SEC uses is that these online lenders are investment firms selling bonds – and therefore fall under the purview of the SEC. One lender, Prosper, is arguing that the business is instead a lender that should fall under regulation of a different agency — ideally, the new Consumer Financial Protection Agency.

Bonds and loans – what is the main difference?

Corporations generally use bonds as a type of capital-raising investment. Bonds are promises to pay money back later, as well as getting money now. Bonds are traded, insured, and exchanged on open financial markets. In comparison to other loans, bonds usually have very low interest rates. Loans, instead, are a contract for future payment in exchange for current investment – but cannot be traded as effortlessly as bonds. Individuals are "sold" loans by banks, when corporations sell banks bonds.

Jones Act of 1920 hinders best response to gulf oil spill in 2010

A federal law passed in 1920 called the Jones act and is now making headlines because of the oil spill in the Gulf of Mexico 2010. 90 years ago the Jones Act was passed so the US would have advantage over the rest of the world in US waters when it comes to shipping. Today the Jones Act — which calls for that all goods transported by water between U.S. ports be carried in U.S. ships that were constructed within the United States, owned by U.S. citizens and crewed by U.S. citizens — is preventing the rest of the world from helping the U.S. clean up the BP oil spill with state of the art technology. The Obama administration must understand the effect the Jones Act is having on the disaster. Maybe a simple executive order suspending the Jones Act would be more productive than other things they are doing.

Article Source: Jones Act of 1920 hinders best response to gulf oil spill in 2010

Jones Act slows oil spill cleanup

The Jones Act prevented foreign companies from offering the U.S. assistance in the oil spill cleanup soon following the Deepwater Horizon oil rig exploded, killed 11 people, sank, blew out the well and began an undersea gusher that has dumped up to 30,000 barrels of oil a day for the past 53 days. The Heritage Foundation reports that within days of the oil spill, several European nations offered the Obama administration ships to assist within the clean-up of the Gulf. A Belgian newspaper, De Standaard, said European firms working with the U.S. could complete the task in 3 months, instead of an estimated nine months if done by the U.S. alone. According to De Standaard, no U.S. companies have the ships to accomplish this task is because those ships would cost twice as much to build within the U.S.

Oil clean up ships barred

The Jones Act is preventing the most advanced oil cleanup ships owned by Belgian, Dutch and Norwegian firms from getting by and helping within the oil spill cleanup. Fox News reports that politics are taking precedent over ensuring the best possible oil spill cleanup effort. Joseph Carafano of the Heritage Foundation suggested to Fox News that the most proven foreign oil cleanup ships remain on the sidelines because of the Obama administration's close relationship with all of of the labor unions. Unions believe the Jones Act protects American jobs, and those unions use their political clout to pressure all of the lawmakers who would waive the law for this one time.

BP oil spill liability

Waiving the Jones Act may do a lot more to blunt the damage of the oil spill within the Gulf of Mexico than other legal moves being considered. As outlined by the Wall Street Journal, President Obama, talking about BP oil spill liability on Thursday, said Congress must "update the laws to make sure that the individuals in the Gulf, the fishermen, the hotel owners, families who are dependent for their livelihoods in the Gulf, that they are all made whole." Still, it is questioned whether a law can be passed focusing only on one company like that. But some law professors and corporate attorneys said creative Justice Department attorneys could use language within the Oil Pollution Act of 1990 to expand BP's oil spill liability.

Time’s up for The Jones Act

In 2010, the Jones act might eliminate jobs although it was created to protect jobs. Those who make a living off fishing, tourism, and even oil are watching it all fall apart. It was explained by the Heritage Foundation that you will find also private sector jobs not being created in the U.S. since the Jones Act prices U.S. companies out of the competitive global market. Mounting public awareness of the law results within the Jones Act being waived, and also the BP oil spill may be the catalyst for repealing it altogether.

A lot more data on this topic

Heritage Foundation

blog.heritage.org/2010/06/08/to-save-the-gulf-send-the-jones-act-to-davy-jones'-locker/

Fox News

liveshots.blogs.foxnews.com/2010/06/10/jones-act-slowing-oil-spill-cleanup/?test=latestnews

Wall Street Journal

blogs.wsj.com/law/2010/06/11/on-the-government-bp-and-the-law/

The basics of electronic controls inside your automobile

In the late 1970s, General Motors started putting microprocessor-based controls in its cars. In the forty years since then, the ECU – or electronic control unit – has been the biggest source of vehicular innovation. With the use of electronic control units expected to do nothing but grow, you should understand what exactly they do and just how secure they may or may not be.

Resource for this article: The basics of electronic controls with your car By Car Deal Expert

How an ECU works

An electronic control unit, usually called ECU, is a microprocessor implanted in a car. Each ECU is usually intended for a single purpose. One ECU usually controls radio volume, when one more controls airbags. Electronic control units within a vehicle are networked with each other and with sensors that provide them with raw data. Each processor is coded (sometimes with up to 50,000 lines of code) to know how to proceed with the raw data it is being fed from the network of sensors.

The good things about an ECU

An ECU can make a system in a car more efficient, a lot more consistent, or easier to use. An electronic control sensor is used to help your fuel injectors make better use of the fuel your engine burns. An ECU also makes certain that the right airbags go off at the right time. ECU sensors are put into hybrid vehicles at about twice the density of usual, because hybrids rely so heavily on computer calculations for efficiency.

Costs of an Electronic Control Unit

About 70 percent of the development of a new car, anymore, is spent on the ECU units. Given this, it is not surprising that about 40 percent of the cost of a new car is because of the electronics. Just the software development costs for a premium car can run over one billion dollars. There is also a danger with electronic control units; recent studies have found that they’re very susceptible to hacking. A car without electronic controls could be difficult to find and keep running, however – you would have to discover a car built before the 1970s.

The Armando Galarraga Corvette gift from GM ends up burning taxpayers

General Motors presented Detroit Tigers pitcher Armando Galarraga a Corvette soon after his near-perfect game. The 2010 Chevrolet Corvette convertible is worth $ 53,000, but it was reported by Crain’s Detroit Business the media exposure the gesture brought to GM was worth approximately $ 9 million. A non-contracted study by research group Joyce Julius and Associates Inc. tracked the coverage the Galarraga Corvette brought to GM, from 714 TV shots to 151,000 print publications and countless Web entries.

Source for this article: Armando Galarraga Corvette gift from GM burns taxpayers

Taxpayers angered by Galarraga Corvette windfall

California Rep. Darrell Issa gave a critical voice to what numerous taxpayers are thinking after GM gave Galarraga the very generous Corvette gift. Issa’s spokesman Kurt Bardella explained to the New York Times that “Until GM has repaid the taxpayers in full for the money they have borrowed; each action they take should advance them in that direction.” The U.S. government presently owns 61 percent of GM following the auto bailout disaster, and because GM nevertheless owes taxpayers for its bailout investment, the Galarraga Corvette giveaway was quite inappropriate. Such is the case in spite of the fact Armando Galarraga might very well have deserved praise for the manner in which he conducted himself following the blown call by umpire Jim Joyce that cost Galarraga a perfect game. Joyce later showed contrition and also had said that he had made a mistake with the call. Without he blown call, Armando Galarraga’s game was perfect.

GM says they paid the borrowed funds but did it with another bailout loan

Rep. Issa isn’t the only one who noticed that GM aired a TV commercial in May 2010 that claimed it had already ended up paying back its government bailout loan. Crain’s reported that the fact is that GM was only able to do so because it took out an additional government auto bailout loan. Maybe the $ 9 million windfall from the Galarraga Corvette can actually help them to take care of that loan on the books? That kind of brand value publicity works just as well as any asset when it comes to repaying debt.

Additional details at these websites

Crain’s Detroit Business

crainsdetroit.com/article/20100609/FREE/100609856

Personal Money Store

personalmoneystore.com/moneyblog/2010/06/03/perfect-game-blown-call-joyce/

BP oil spill likely to pass the Lakeview Gusher as the worst ever

The oil spill in the Gulf of Mexico 2010 is being compared to the Lakeview Gusher of 1910. As the BP oil spill gushes for the 50th straight day, its sheer volume of toxic pollution is drawing comparisons to the Lakeview Gusher, a California calamity known as the worst oil spill in U.S. history 100 years ago. A century hence, the undersea gusher is overwhelming an oil spill cap on the oil spill live feed, which shows thousands of barrels a day still flowing to the sea.

Resource for this article: BP oil spill likely to pass the Lakeview Gusher as the worst ever By Personal Money Store

The Lakeview Gusher disaster

The Lakeview Gusher began when an oil well blew out near Maricopa, Calif. in March 1910 The Pasadena Star-News reports that 9 million barrels—378 million gallons of oil—was spilled in 18 months by the Lakeview Gusher. The oil spill in the Gulf of Mexico 2010 may have dumped up to 122 million gallons in 50 days. Skeptical experts say that figure is far too low. The Lakeview Gusher blowout flowed at about 48,000 barrels a day. The daily output of the BP oil spill has been estimated as high as 72,000 barrels (3 million gallons) a day.

A sea of oil on land

Despite its spectacular blow-out, the Lakeview Gusher ended up as the most successful well ever in California.When the disaster started 18,000 barrels a day spilled into the ground. Peak flow was estimated at 90,000 barrels a day. A river of crude running downhill from the well site formed a 60-acre lake of oil.So much oil was recovered from the lake that William Rintoul in his book, “Drilling Through Time,” said it drove down the price of oil in 1910.

Oil spill live feed defies estimates

The oil spill cap, BP’s latest effort to control the oil spill in the Gulf of Mexico 2010, appears on the oil spill live feed (see below) to be overwhelmed by the raging gusher coming from the ruptured well. BP claims the oil spill cap is a step forward in controlling the leak, but MSNBC reports that scientists viewing the oil spill live feed disagree. The oil spill cap collected 14,800 barrels of oil on Monday, BP officials said. Ira Leifer, a member of the Flow Rate Technical Group, a national panel of scientists and engineers tasked with determining the spill size, told MSNBC that the well may be gushing as much as 100,000 barrels a day.

Submerged oil plumes create dead zones

Deep in the gulf, underwater plumes are traced by scientists who told the New York Times the infusion of oil and gas threatening marine life is unprecedented in human history. For two weeks researchers cruised the gulf, tracking one underwater plumes as large as 15 miles wide, 3 miles long and 600 feet thick, the Times said. The plume’s core is 1,100 to 1,300 meters below the surface. Microorganisms consuming oxygen out of the water as they break down the oil are creating a dead zone devoid of any marine life.

Citations

pasadenastarnews.com

msnbc.msn.com

www.nytimes.com

Sharron Angle wins Nevada GOP nod, may restart Prohibition

As Nevada Democrat Harry Reid waits for the GOP challenge from primary winner Sharron Angle, the individuals of the state may wonder what they’ll be getting if Angle wins. You see, certain statements in Sharron Angle’s political war chest are attracting their fair share of controversy or embarrassment. According to the LA Times, the former teacher and current Scientologist wants to phase out Social Security for younger workers. 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

Get out of education, Sharron Angle tells big government

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 anything to everyone don’t work and simply create trouble, she believes. Alternative choices for education, whether they be home schooling, payday cash vouchers or charter school possibilities, are better for children, teachers and families, suggests Angle.

How dry is prohibition

Sharron Angle’s stance on alcohol is maybe the one view that could cause her probably the most trouble in her battle against Harry Reid in Nevada. Alcohol, said Angle in a 2006 interview for Liberty Watch, should be dealt with by police force and also the legal system much within the exact same way as marijuana, reports Slash Politics. The result would be that alcohol would become illegal, as it was in the Prohibition era. This is particularly odd, considering that Sharron Angle is running out of Nevada, the land of Las Vegas. Jerry Stacy, spokesman for Sharron Angle, is nevertheless trying to spin that one away.

There could be hot tubs for the mentally ill

Ever the Scientologist, Sharron Angle has publicly decried the use of psychiatric drugs on prison inmates. According to Talking Points Memo, Angle tried 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 is what L. Ron Hubbard thought about this, as outlined by Angle.

Find a lot more details on this topic

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

GM recalls 1.5 million vehicles because of flaming windshield wiper heater

A GM recall of 1.5 million automobiles worldwide was announced Tuesday. The GM recall issue that is being questioned a defect in a heated windshield wiper fluid system that has caught fire in a few cases. General Motors Co. is recalling many of the automobiles for the exact exact same problem. Technicians at GM dealers will disable the system, that was made by a vendor who has given that gone bankrupt. Car owners will receive $100 as compensation for the loss of the feature.

Article Source: GM recalls 1.5 million vehicles – Flaming windshield wiper heater By Personal Money Store

GM's recall list

The GM recall list includes pickup trucks, crossovers and passenger car models from 2006 to 2009. The Associated Press reports that a 2008 GM recall of more than 900,000 vehicles addressed the same problem. There is a short circuit that could overheat the ground wire. Reports had surfaced of fires in automobiles that had been fixed. 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 within the U.S. and more than 100,000 autos are in Canada, Mexico and other international markets.

The GM windshield wiper heater shorts out

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

Windshield wiper heater disabled

Following the first GM recall of the wiper fluid heater, GM said they tried to keep track of the HotShot system made by Micro-Heat. It was reported by the Detroit Free Press 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 said because Micro-Heat existed no longer, it could not provide an improved design. For the new recall, dealers may have to remove the fluid heater and reroute some hoses.

Trying to rebound from the GM bailout

GM had posted a first quarter profit — the first time it had been within the black since 2007. In 2009 the GM bailout of more than $50 billion prevented a GM bankruptcy after the company posted losses that were around $6 billion. GM repaid a portion of the bailout quite recently and radical restructuring has put the business back on the road to profitability. U.S. auto sales for GM brands were up 17 percent compared to what they were at 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.

All of the brands on recall list

GM will start sending letters to owners later this month. People who own the GM brands on the recall list below can contact their dealer to have the heated washer system removed.

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

Find more info 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

The basics of re-refined oil

We all know that we are intended to change the oil in our cars regularly, but other than natural or synthetic, most people don’t usually think about what oil goes in or comes out. Re-refined oil is engine lubricant that is exactly 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 with your car?

Resource for this article: The basics of re-refined oil By Car Deal Expert

The re-refining oil process

Oil from petroleum doesn't wear out. It gets dirty instead. Although the oil doesn't wear out, the additives do. Used motor oil is re-refined the same way as crude oil. The oil is cleaned, refined and re-blended with additives to create a product that is comparable to lubricants created with crude oil.

Make sure your re-manufactured oil is approved

While re-refined oil could be as clean, safe and effective, you should take a few additional precautions. Make sure that the re-refined oil being used is American Petroleum Institute approved. Usually API approved oil can be required. API approved oil has undergone stringent testing needs that ensure it does what it is intended to. Whether re-refined or not, you will need oil that is API approved. If you use a mechanic, check with them that they are using API approved oil, re-refined or not.

The benefits of re-refined oil

re-refined motor oil can do a lot more than lubricate your engine. 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 regularly re-used. It takes one gallon of used motor oil to create 2.5 quarts of re-refined oil. The byproducts are used to power re-refining plants and also to create asphalt roof shingles. If all motor oil in the United States was re-refined, there would be enough recycled oil to maintain someplace around 8 million vehicles per year.

Arthur Laffer predicts collapse when Bush tax cuts expire in 2010

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

Source for this article: Arthur Laffer predicts collapse when Bush tax cuts expire in 2010

Bush tax cuts expire 2010

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

The curveball for Arthur Laffer

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

Lower than Reagan's tax plan is Obama's

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

Your pain felt by Arther Laffer

Arther Laffer, the chairman of an investment consulting firm and therefore is very wealthy, is making predictions of economic collapse from a very narrow point of view. Bangalore goes further to point out that the obstacles the economy will face in 2011 have nothing to do with tax increases. Lackluster job growth and housing market challenges are factors that will have far greater influence on the economy. Most plan to keep their head up to survive. But when Arthur Laffer’s personal income tax rate goes up by around 5 percent, the millions he won’t pocket will seem like the end of the world indeed.

Read a lot more on this topic here

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

Getting good rates on personal cash loan

Everybody needs some kind of personel loans along the line. Whether it's an emergency loan until payday because you blew a flat tire, or for a home, car or college education, chances are you’ll need to finance something eventually. If you’re getting into the market for personal cash loan of some type for whatever reason, you will find a few things that can help you get the best personal loans rates.

Credit score affects rate first

Our credit score is one of probably the most essential details that you will have to learn about your financial life, and it is also significant when you apply for personnel loans. It might be unfair but is entrenched unfortunately. To better your chances to get a personal loan, you need to boost your credit score. Pay off the credit cards, first and foremost. If you’ve many credit cards, pay them off until there are only one or two left, and keep those at a low balance. Some payment will always be better than none.

Your money can be laid down

The more you offer as a down payment, the less you’ll owe on the principle. The less you owe on the principle, the better the rate of interest will be and also the less you’ll have to pay. Usually you only have to have a down payment on things like homes or cars. It was stated by Forbes that a 20 percent down payment on a home is nearly extremely hard now and days. This is part of an overall trend that is going on, as the requirements to make that upfront payment loosen. That practice seems to be getting nipped within the bud, so for any large personel loans, expect it to come up.

don't be afraid to refinance when you are purchasing around

As with any product or service, shop around. One of the great things about credit unions is that they carry much lower risk structurally than any kind of bank does, and often can offer lower rates than some banks. With less bonuses, there is bound to be a lower overhead. Also, if you have a large enough loan, like a mortgage loan, student loan or business loan, don’t be afraid to refinance once you are within the right position. Lower interest rates mean lower payments and will mean you will have a lot more money.

A lot more details on this topic

blogs.forbes.com/moneybuilder/2010/06/03/down-payment-on-home-out-of-reach-for-half-of-u-s-poll-finds/
Forbes

Mortgage rates near record lows - housing market not responding

Mortgage rates hit the lowest levels of the year this week. Very low mortgage rates should be good news for U.S. housing market predictions 2010, shouldn’t they? Existing home prices and existing home sales were up in April — an additional bit of good news, right? But despite the attractive mortgage rates, mortgage applications went down quite a bit after the home buyer tax credit deadline April 30. Plus, many homeowners are nevertheless out of work, a lot more than 1 million a lot 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 get worse nevertheless.

Article Source: Mortgage rates near record lows – housing market not responding

All of the mortgage rate trends

The average mortgage rate dropped to 4.72 percent this week, down from 4.79 percent last week, as outlined by mortgage finance company Freddie Mac The average mortgage rate dropped by around 4.72 percent this week, down from 4.79 percent last week, as outlined by mortgage finance business Freddie Mac . It was above what was set last December in 4.71. Mortgage rate trends point even lower. 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 still isn't responding. It was reported by the Associated Press that 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 that was done 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 following the program ended, but ha! ve fallen drastically instead over the past two months.

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 to the safety of U.S. Treasury bonds. It was reported by the Los Angeles Times that investors have rushed to buy Treasury securities since late April, in 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, although they are paying just 3.20 percent. The yield on US treasury has been pushed down by it. The mortgage rate forecast tracks that yield.

Predictions of the housing market 2010

With mortgage rates at near record lows, the number of customers that are applying for a mortgage 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. It was reported by MarketWatch that any housing market recovery will likely continue to be slowed by additional homes on the market from “shadow inventory” and “sidelined sellers.” Shadow inventory is what we call foreclosed homes not on the market yet. 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 people who want to sell their homes but are waiting for the housing market recovery. MarketWatch reports that about 7 percent of homeowners — representing more than 5 million homes — fall into this category. They will likely be waiting for a while. In May the US unemployment rate was 9.7 percent. Numerous salaries are cut or frozen. In a National Foundation for Credit Counseling survey, 49 percent said if they tried to purchase a home they’d never be able to conserve enough money for a down payment. Individuals underwater on their mortgages, which is about 25 percent of borrowers, can’t get the financing to move to another 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 in the long run, that attitude is a good thing for the economy.

Finally, some good news.

Citations

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

What you have to learn about an overheating engine

Running an engine on internal combustion is very fuel-intense. Even probably the most efficient gas-run engines use only about 38 percent of the stored energy of gas for powering the vehicle – the rest becomes waste heat. An engine is severely damaged if it runs outside its relatively narrow temperature range.

Source for this article: The basics of an overheating engine

The anatomy of an overheating engine

When an engine starts to overheat, a wide range of other things start to go wrong inside the engine. A normally-functioning engine will run between 195 and 220 degrees F. At hotter than about 220 degrees, the engine may start misfiring as fuel combusts in places other than the combustion chamber. Rubber will begin to soften once the engine goes above 250 degrees. Metal inside the engine, including aluminum, will start to soften at 265 degrees. Boiling coolant can also cause the radiator to burst, the head gasket could be crushed, and old hoses can develop holes.

What to do if your engine overheats

The temperature of most engines can be viewed on a dial or gauge on the dashboard. You should keep as close an eye on this gauge as you do on the fuel. If you notice the temperature is consistently above 225 degrees or if the “hot” warning light goes on, stop driving the automobile.Pull over and check the coolant levels inside your engine. Add coolant if the levels are low. If you don't have coolant, top it off with water. As soon as you possibly can, have the engine checked out by a mechanic. Do not attempt to open the radiator cap until the engine has entirely cooled off – it is under pressure and could cause injuries.

An overheating engine – what might be to blame

You will find various parts of an engine that can cause overheating. The five most common things that cause an overheating engine include:

• Leak in the cooling system – probably the most common cause, and most easily found with a pressure test.
• Thermostat difficulties – either mechanical or computer-controlled, this is one of the most common reasons.
• Cooling fan – see if it is still working, and if the fan clutch is operational.
• A dirty radiator – radiators can be blocked by dirt and grime from the road.
• Overworking the engine – if you are towing a load or driving very fast, your engine could simply not be able to keep up.

Texting when driving bills have trouble on state level

When New York Senator Chuck Schumer brought a bill before the Senate to ban texting when driving, it seemed like the right bill at the right time. Yet recent developments in other states to enact similar laws have experienced some difficulty. How can this be possible in light of what CNN recently revealed about how eight out of 10 auto wrecks come from distracted driving? Apparently, state governors appear to be hung up on loopholes in the language of the legislation.

Source for this article: Texting while driving legislation hits snags at state level By Car Deal Expert

Texting when driving – a sample of what’s wrong with government

Numerous United States are having trouble making a texting while driving ban work. Georgia is just such a state. As outlined by the Atlanta Journal-Constitution, Governor Sonny Perdue is wary of difficulties of enforcement resulting from the chosen language. The words that make clear “any text-based communication” would be banned is what bugs Perdue. In addition, Gov. Perdue suggests what numerous other state governors are thinking, the laws won’t necessarily change the behavior when it is quite easy for drivers to obtain the instant gratification of texting while driving.

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

Foregoing instant gratification

Using Perdue’s logic, perhaps all distracted driving should be against the law. Supporting that position shouldn’t be a tough sell. Strong texting while driving laws would make every life saved a testament to the law’s worthiness, right? Texting while driving causes 1.6 million crashes per year, as well as half a million injuries and 6,000 deaths per year around The United States, writes the AJC. In addition, texting while driving has been shown to be 3 times a lot more dangerous than driving drunk, as focusing on a phone calls for concentration. Overall, texting when driving, writes the AJC, is 23 times a lot more likely to cause an accident than without. Those numbers make it easy to see that individuals have to delay gratification and pull over first.

Auto Week and Oprah fighting the good fight

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

American drivers deserve no texting while driving

Gov. Perdue should sign the anti-texting when driving bill to conserve lives, even if it isn’t perfect. For a lot more info on current texting while driving laws across The US, the link below to the Governors Highway Safety Association offers a current list of state-level cell phone and text messaging laws.

Additional info at these websites

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

autoweek.com/files/distracteddriving/distracteddriving.html

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

Danielle Staub sextape to release June 14

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

Article Resource: Danielle Staub sextape video set for June 14 release By Personal Money Store

Danielle Staub sextape video litigations

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

The story within the Danielle Staub sextape video

The Danielle Staub sextape video that Hustler has reported it will be releasing was reportedly filmed in September of 2009. This means the drama on “Real Housewives of New Jersey” was not about this particular tape. The Danielle Staub sex tape supposedly features a “mystery man” that has not been spotted on the “Real Housewives of New Jersey.”

Release of the Danielle Staub sextape video

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

World of college sports turned upside down by Pac Ten expansion

Pac Ten expansion is causing an upheaval within the college sports landscape that will make it unrecognizable as we know it. Pac Ten expansion is a Pacific coast power grab that will impact the future of both the Big-12 and Big-10 conferences. More television money is the ultimate objective of Pac Ten expansion plans. Probably the most sought after prize within the college conference tug of war is Texas, with its huge legion of fans and nationwide television ratings draw.

Resource for this article: Pac Ten expansion will alter the entire college sports landscape By Personal Money Store

Pac Ten expansion scenarios

A handful of Pac Ten expansion scenarios were laid out at a conference of Pac Ten athletic directors in San Francisco on June 6. ESPN reports that the Pac Ten discussed scenarios including a direct merger with the Big-12, welcoming six universities at the moment in the Big-12, tacking on Colorado and Utah to be the Pac-12 or simply remaining the Pac-10. A lucrative Pac Ten TV network is also on the table in discussions about conference expansion. Big 12 schools on the Pac Ten buying list includeTexas, Texas A and M, Texas Tech, Oklahoma, Oklahoma State and Colorado .

Pac Ten expansion all about TV dollars

Pac Ten expansion is being discussed as the Big-12 conference has found itself under siege from both the east and west. Other major conferences have outpaced the Big 12 in television dollars, although it boasts large name schools like Texas, Oklahoma and Nebraska. Nebraska and Missouri have are being wooed by the Big-10, a conference that paid out $22 million to each member, courtesy of the Big-10 Network. The TV take for Big-12 schools was a mere $7 to $12 million. According to the Sports Business Journal, the Southeast Conference leads all conferences with TV contracts from ESPN and CBS worth $205 million annually. The Pac Ten’s contracts with ABC/ESPN and Fox are worth $45 million.

Mega-conference: The Pac-16

No timeline has been revealed for Pac Ten expansion. However, Orangebloods.com reports that Texas, Texas A and M, Texas Tech, Oklahoma, Colorado and Oklahoma will get an invite from commissioner Larry Scott as early as this week. With so numerous schools, the Pac-16 could form two leagues. The six newcomers, plus the two Arizona schools, which made the Pac-8 the Pac Ten would form one league. The original eight schools within the conference would form the other.

A future for the Big-12?

The Big-12 has given Nebraska and Missouri until June 11 to determine whether they’ll stay or go, according to the San Jose Mercury News. Should they choose to go, the other schools targeted by the Pac Ten are expected to leave as well. If that happens the Big-12 would disintegrate, being that Kansas, Kansas State, Baylor and Iowa would be the only schools left. To remain viable, the Big-12 could gather in Texas Christian and Southern Methodist and possibly convince Colorado and Utah to join the league. But would the Little-8 stand a chance against the bigger, richer conferences encroaching on the east and west?. Either way, the individuals affected most, college sports fans, have been left out of the deal.

Find a lot more details on this topic

sports.espn.go.com

sportsbusinessjournal.com

blogs.mercurynews.com

No longer Joined At The Heart – Al and Tipper Gore divorce

An email sent by Al and Tipper Gore on Tuesday morning announced that they will be separating as a couple. According to the couple, the decision to separate from their 40 year marriage was "mutual". Al and Tipper Gore have four grown kids and "do not intend to comment any further.”

Resource for this article: Al Gore and Tipper Gore separate – No longer Joined At The Heart

The facts about Al and Tipper Gore

Al and Tipper Gore met at a high school dance when they were in their late teens. They got married when they were both in their early twenties. Tipper Gore has been in and out of the public spotlight her entire life, as an author, photographer and public activist. Tipper Gore is known best for her 1985 campaign against hard metal music. Al Gore first served as a politician, then increased his fame with the film "An Inconvenient Truth.” That film earned Al Gore an Oscar and also the cash now loan that came with his Nobel Peace Prize.

Al and Tipper Gore announce separation

Politico obtained the email sent to friends and family where they announced their separation. The email said, among other things:

We are announcing today that after a great deal of thought and discussion, we have decided to separate. This is very much a mutual and mutually supportive decision that we have made together following a process of long and careful consideration. We ask for respect for our privacy and that of our family, and we do not intend to comment further.”

Al and Tipper Gore's family profile

Al and Tipper Gore have always been seen as having a very strong marriage. In 2000, the kiss between Al and Tipper Gore at the Democratic National Convention was discussed and replayed numerous, many times. Published in 2002, "Joined At The Heart", a book exploring the American Family, was co-authored by Al and Tipper Gore. Using their own marriage as an example, “Joined At The Heart” speaks strongly for “structurally strong” relationships of each and every type.

More details on this topic

Politico

Amazon.com "Joined At The Heart"

How to get cigarette smoke smell out of a car

If you have ever purchased a privately owned car, you may are left wondering how to get the smell of cigarette smoke out of a car. Some people go the extra mile to clean up their vehicles before sale, but if you’re scoping a spur-of-the-moment deal on Craigslist, you may be purchasing an AS-IS car that doubled as a mobile smoking lounge. Not only are the upholstery and instrument panel stained or discolored from cigarette smoke, but the odor has been left behind. You have to learn how to get the cigarette smell out of a car if you’re a non-smoker who prefers a low-tar automobile interior.

Resource for this article: How to get cigarette smoke smell out of a car By Car Deal Expert

How to get cigarette smell out of a car? It takes some effort

Work can be required no matter what method you choose. Cigarette smell is pervasive. {Assuming that you would like to do the job as cheaply and safely as possible – you aren’t a professional auto detailer, but an auto loans-bearing consumer – what follows are some DIY tips that don’t require scary chemicals|Assuming that you need to do the job as cheaply as it is possible – you aren’t a professional auto detailer, but an car loan-bearing consumer – what follows are some DIY tips that don’t require scary chemicals|Assuming you need to do the job as safely as possible – you aren’t a

1. Make sure you vacuum the car. Some particles of cigarette smell is on the car. Use the hose attachments on your vacuum.
2. Use some white vinegar. It helps a lot to leave a bowl in the car overnight.
3. Get some citrus peels. Toss a few peels in various places inside the car. It will definitely work although it might take a few days.
4. Get some baking soda. Put it within the car and leave it a couple of hours. Vacuum and see how your car smells. If you aren’t certain how your upholstery will react to baking soda, spot test this first.
5. Use coffee grounds. Put the grounds directly in filters and secure them so they won’t dump the grounds directly onto the upholstery. Place the filters within the car.
6. Make certain to air it out. Doesn't it just seem obvious? Leave the doors open for a couple of hours. This will help if the smell is minor.
7. Get some charcoal. Leave a bowl of charcoal in the car overnight.
8. Pay attention to the lights. Interior lights attract smoke. With the strongest cleaner you’ve, scrub these areas. Even bring in a hydrogen peroxide mix here if necessary.

Don’t drive an ash mobile

It is serious business getting cigarette smell out of a car. There are many individuals who are sickened by continual exposure to the smell, which is something nobody wants to experience when they purchase a new car. Why not try these simple home remedies?

Citations

How to Do Things

Gulf hurricane season begins with oil spill top kill failure

The 2010 hurricane season officially began as the oil spill within the Gulf of Mexico 2010 reached its 42 day. Crude gushes unabated into the sea on the BP oil spill live feed as forecasters predict an unusually severe 2010 hurricane season. The oil spill top kill, BP’s best hope so far of capping the leak, failed over Memorial Day weekend. To stem the flow, yet not stop the leak, BP will next try to sever the broken pipe from the wellhead, put a cap on it with a hose to the surface and make an effort to collect the oil. Relief wells being drilled to stop the leak at its source are at least two months from completion. The gulf, where the first hurricanes of the 2010 season are expected, has been polluted with up to 100 million gallons of oil to date.

Article Source: Hurricane season 2010 starts in gulf as oil spill top kill fails By Personal Money Store

Forecast – 2010 hurricane season

Meteorologists have designated June 1 as the official start of hurricane season 2010, which lasts until Nov. 30. Historically, in contrast to quick cash same day, big-name hurricanes form thousands of miles away within the Atlantic Ocean, are tracked for days by meteorologists and relentlessly hyped by the media before making landfall within the U.S.. But AOL reports that in 2010 the first hurricanes could materialize along the Southeast cost or northeastern Caribbean, and the Gulf of Mexico is even more likely. Sea temperatures within the Atlantic aren’t expected to brew storms early in hurricane season. Early season storms will have short warning because forming closer to land won't allow for days of anticipation.

Leak foils oil spill top kill

The first storm of Hurricane season 2010 could strike easily and will likely disrupt the response to the BP oil leak. A hurricane could not only push more oil ashore but also cause weeks of delays in efforts to contain the spill. The New York Times reports that after the oil spill top kill failure, BP will make an effort to shear off the collapsed pipe leading from the wellhead, place a cap over the opening and funnel leaking oil through a hose to the surface. The New York Times reports that BP's next option following the oil spill top kill bust is to cut off the broken pipe from the wellhead, put a containment dome over the opening and siphon oil to the surface. Until a cap is in place the BP oil spill live feed will show an increasing flow of crude following the cutting operation. What’s more, when a hurricane heads for the gulf, crews will disconnect the hose and run for cover, leaving the BP oil leak to gush unabated.

Toxic storm surge forecasted

Storm surges carrying oil sludge and oil dispersant, which is toxic, could make parts of the gulf coast uninhabitable throughout hurricane season 2010. To predict where the oil slick could possibly be driven by gulf hurricanes, the Gerson Lehman Group analyzed tracking data from recent storms. The counter-clockwise spin of a hurricane comparable to Gustav in 2008 would drive its storm surge of toxic chemicals west to Texas. The 2009 hurricane Ida went into the east-central gulf, pushing a storm surge to the west coast of Florida. Areas miles from the coast could possibly be coated in an aerosol of oil and toxic dispersants carried by hurricane-force winds.

Hurricane season 2010 details

The National Oceanic and Atmospheric Association hurricane season 2010 forecast predicts as many as 23 named storms, with three to seven major hurricanes. When winds surpass 39 mph, a storm gets a name. Possibly 14 of those storms could produce winds passing 74 mph to be classified as hurricanes. Three to seven could possibly be Category 3, 4 or 5 hurricanes with winds of at least 111 mph. The strongest tropical system recorded in June was Hurricane Audrey, which made landfall in southern Louisiana on June 27, 1957, as a Category 4 storm, with a sustained wind of 145 mph.

Citations

AOL News

New York Times

Gerson Lehman Group

Windows OS banned in Google offices

At the California Googleplex and around the world, concerns over security have led to Google officially giving Windows the boot. Google's Chrome OS is a part of this lead-up, though the security troubles with Windows are a major part of this decision. Google employees will no longer be allowed to use Windows, but they will nevertheless be offered an option of operating systems.

Article Source: Google bans Windows over security concerns

Google dumps Windows officially

The official policy of Google on Windows has been, until now, a lot more flexible. Google employees are given an option of which operating system they want to use on their company-issued computers. Now, if Google employees want to keep Windows as an operating system, they have to get CIO approval. The Google Chrome OS, nevertheless in unofficial testing, is being offered as an alternative to Windows. This move was hastened by the recent hacking of Google’s China channels.

Windows security concerns cited by Google

From credit counseling to office management, about 80 percent of computers run Windows. Viruses and hackers usually target Windows computers because the operating system is so popular. Google has moved to Mac and Linux operating systems because of this security hole. Because Google’s dedicated developers design programs for wide use, they are able to keep away from numerous of the downfalls of Windows security holes.

Is the Google Windows fight a marketing ploy?

Some wonder whether Google’s banning of Windows is more of a publicity stunt than a security move. Google has been creating a Chrome OS, a competitor to the Windows operating system. The first public release of this operating system was the Google Chrome web browser. Developers will be allowed to edit and alter the Google Chrome OS, because it is an open-source piece of programming. The idea that open source programs are much less secure is a theory about security of operating systems that has proven incorrect. Yes, Google will be introducing a competitor to the Windows operating system — but that is not the only reason Windows has been banned from the Google corporate operating system.

Determining Whether Your Car Is Classic Or Antique

Nothing beats a perfectly restored classic or antique car. Elegant line, dazzling chrome and even genteel carriage evoke pleasant memories of the past, transporting us into personal fantasy where “They don’t make them like they used to” will never ring false. But how can vehicle owners tell if the hobby cars they have are classic car or antique? There are some guidelines, thankfully. Just remember, whether a car is classic or antique, it should generally not be used as a daily commuter, unless you have unlimited funds at your disposal and don’t need auto loans to purchase vehicles.

Aren’t antique and classic the same thing?

It isn’t necessarily true that classic and antique are the same as some would argue. According to Wikipedia, some car aficionados in the United States use “classic car” to refer to high-quality vehicles from the pre-World War II era. According to U.S. auto insurance laws, though, 20 years of life for a car is approximately double the expectancy intended for most modern cars, so the “classic car” title sets in after a car is 20 years old. And classic or antique car insurance is always more expensive than insurance for a standard vehicle because older models don’t have the same safety features that come standard in newer cars. In the United Kingdom, the term “antique car” isn’t used for anything, although they do use the phrase “vintage” to refer to vehicles more than 100 years old.

Get a hold of the Classic Car Club of America

The Classic Car Club of America (CCCA) has many people who live and breathe classic and antique cars. They have their own stringent standards to determine whether a car is to be considered “classic” or “antique”. Classic is what they call cars that are considered expensive mass market vehicles made between 1949 and 1985. Classic cars don’t have to be American-made, but they should still contain the original parts from when they were manufactured. The Antique Automobile Club of America classifies any car older than 25 years antique, but “the legal definition for the purpose of antique vehicle registration varies widely,” according to Wikipedia.

In the UK, things are just a bit different

Car insurance companies in the UK also decide what a classic car is. Cars made 15 to 25 years ago are considered modern classic cars, but to confuse things a bit, UK insurance companies don’t really care that much about this. Cars not in the guidelines are still collectible sometimes.

Final word on the classic car insurance

When looking at money, insuring an antique or classic car is essential, considering the amount of money put into maintaining and restoring it. You should discuss the matter with a licensed insurance agent if you want to fully protect your classic or antique car investment.

Read more on this topic here:

Wikipedia (classic car)

http://en.wikipedia.org/wiki/Classic_car

Wikipedia (antique car)

http://en.wikipedia.org/wiki/Antique_car

HowToDoThings.com

http://www.howtodothings.com/automotive/how-to-determine-if-your-car-is-a-classic

Classic Car Club of America

http://www.classiccarclub.org/