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Record UK Bank Write-offs of Personal Debt

September 1st, 2010 by admin

The Times, Bloomberg and the Daily Mail have all reported this morning on news released yesterday by the Bank of England showing that, in the words of the Daily Mail:

“Between April and June banks and building societies were forced to ‘write off ‘ £3.5bn, around £40m every day, the largest amount since records began.”

I think, in order to put this into perspective, it is worth having a look at the medium term trends in these write-offs, which can be seen in the chart below:

When seen in this context, I believe this news presents a rather worrying trend.  Because these write-offs represent a bank’s opinion that this money will not be recovered, they usually occur concurrent with or prior to personal insolvencies, home repossessions and individual voluntary arrangements.  Whatever the legal mechanism used, each leaves the individuals involved with much lower future purchasing power as they redirect income to repay the remaining indebtedness.  Consequently, this provides more evidence that UK personal consumption is likely to remain weak in the near future.

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Wanita, Ingin Dikagumi, Atau Diimpikan

September 1st, 2010 by admin

“

banyak lelaki kagum dengan wanita yg bisa berkarir seperti pria.
bisa mendapatkan penghasilan besar tak kalah dengan pria.
ya kagum.

tapi lelaki memimpikan wanita yg bisa berkarir seperti wanita.
bisa mendidik anaknya agar menjadi pribadi yg menghasilkan di masa depan.
ya memimpikan.

utk wanita yg kami sayangi,
sekarang terserah anda,
ingin dikagumi atau diimpikan.
(tom_ si orang gila)

“

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FHA Mortgage Kentucky Buying your First Home Louisville Kentucky

September 1st, 2010 by admin

[vodpod id=Video.4350212&w=425&h=350&fv=%26rel%3D0%26border%3D0%26]

38.242149 -85.576818

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Congress Has Set Us Up For Another Financial Crisis

September 1st, 2010 by admin

This article was taken from GradeGov.com

You can visit the site here: http://gradegov.com/

Since Congress is out for their traditional August break, I thought this could explore some of the ramifications of the larger pieces of legislation Congress has passed over the last few months. The first one that comes to mind is the Financial reform bill which was signed into law mid July, 2010. This bill was two years in the making and caused many GOP lawmakers to balk at the sheer size of the bill, the undefined responsibilities outlined in the bill and the lack of even an “honorable mention” in the bill of the famed Government Sponsored Enterprises we know as Fannie Mae and Freddie Mac. The fact is that we the taxpayer own 80% of Fannie and Freddie, and they are expected to get a total of almost $1 TRILLION dollars of our money. This never-ending bailout is needed to keep these two mortgage companies afloat when it is all said and done according to Bloomberg money gurus. Notwithstanding this glaring omission in the Financial reform bill, the bill did talk much about the FDIC and their ability to operate new programs. One such new program that garnered approval from the FDIC on August 10, 2010 was the “Model Safe Accounts Pilot program.” This FDIC Model Safe Accounts Pilot program is designed to introduce the banking world to the underprivileged which are described as “underserved”, “unbanked” and “underbanked”. These underbanked folks are basically low-income households and minorities. According to the FDIC website, this program will last 1 year and must be subject to quarterly reports. Some of the highlights are:

-Accounts will be largely electronic and paperless
-Accounts will be FDIC-insured w/ reasonable rates and fees
-Accounts will be “checkless” allowing withdrawals only through automated teller machines
-There are no overdraft or non-sufficient fund fees
-Overdraft lines of credit or small-dollar loans are encouraged

At first blush, this pilot program sounds good on paper. However, you might want to consider the history behind the creation of Fannie and Freddie and see if anything sounds familiar. Fannie Mae was created by President FDR in 1938 as part of his New Deal. The Great Depression had caused a collapse in the housing market so Fannie was born by the Federal Government to provide local banks with government money to finance homes. Because Fannie had the U.S. Government’s seal of approval, it was able to borrow money from other countries and then lend that same money for home mortgages at a slightly higher interest rate. Fannie makes its money from the difference between the foreign money and the homeowner’s loan. By 1968, Fannie Mae was a giant in the mortgage market so Freddie Mac was created in 1970 to prevent a complete monopoly of the housing market. Congress still has the ability to direct Fannie and Freddie and as a result, they ran these two Government sponsored enterprises into the ground.

Now let’s look at a few of the buzz words from the FDIC’s new Model Safe Accounts pilot program. Underbanked or unbanked are key to this new pilot program. Remember that underbanked is code for low-income. If you try to imagine Fannie using words like “undermortgaged or unmortgaged” back in the day, you might be able to see a bit into the future. My crystal ball reads that the FDIC “Model Safe Accounts pilot program” could easily become the next failed government concocted financial solution for the low-income or minorities just like Fannie and Freddie are today. Stay tuned to see if we can afford a bailout of those “underbanked” who participated in the” Model Safe Accounts program”. Hopefully it won’t be to the tune of $1 TRILLION like Fannie and Freddie.
-Elizabeth B. Letchworth

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Awesome DC becomes a Gold Digger

August 31st, 2010 by admin


I am very excited to announce Awesome DC’s  first Gold Digging experience for a local company, Motionsoft who just landed their $5.5 mil investment.

The company was one out of the eight local early/later stage firm whose technology caught my attention at MAVA Capital connection 2010 back in May. Here is my coverage on them.

Motionsoft secured their investment from Edison Venture Fund. The fund will be used for expanding the company  sales, marketing and development activities. Read the rest of this entry »

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Is your company as customer centric as you think?

August 31st, 2010 by admin

Obviously not, or we wouldn’t be asking…

The MIT Sloan Management Review poses this question and at first glance you would assume that this is a leading question. After all, “yes” makes for a short article.

However, the question raised reminds us of the reasons that most companies employ Net Promoter and why it creates change. Let’s start with the five questions posed by the article:

  1. Can middle managers accurately describe your customer promise?
  2. Can all members of your senior executive team name the three things that most undermine trust among your existing customers?
  3. Is your brand really the best option for customers? Will it continue to be next month and next year?
  4. Have you embraced any novel ideas that have produced significant innovations beyond the
    familiar during the past year?
  5. Have front-line staff posed any uncomfortable questions or suggested any important improvements to your offering during the last three months?

Net Promoter is not a silver bullet to address these issues, but it does take a step forward towards several of them. For example, if a classic failing of companies is the inability of senior management to identify the top three things that undermine trust, you would expect any decent NPS root cause review with senior management to call out those three items. In terms of brand fit, the more interesting question relies on a segmentation model: for which of our customers IS our brand the best option and for which group ISN’T it? As you segment your NPS by behavioral or other segmentation criteria, again, the relative NPS between segments should be a strong lead as to where your brand is the best option.
But the question around front line staff is clearly where Net Promoter shines. Anecdotal voice of the customer information and closed loop processes serve to both engage the front line (they are part of coming up with solution and hence “important improvements”) and act as “aircover” for taking customer issues up the organizational chain.
So Net Promoter, through engagement with both senior management and front line employees, works hard to address the two information gaps that characterize the idea behind the information failure that’s at the heart of the article. A timely reminder of the right focus of your program.

Richard Owen | Satmetrix

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Usana Defines Excellence

August 31st, 2010 by admin

Hey, Chuck here again!

And you’re reading my review of a company that I hold close to my heart.

Note that this is a review. If you’re looking for the official Usana website, then click here: Usana

Why am I writing this? Well, I can’t begin to explain the fulfilment that Usana has brought into my life. If ever you were to take someone’s advise or opinion, this would be it. If you have a friend that is already involved and not involved you, look for a new friend.

My first impressions of Usana:

When I first found Usana I was looking for the absolute best supplement in the world. I had researched literally hundreds of Companies and NONE compare to the commitment that Usana has to it’s customers.

What Usana has helped me achieve:

Usana has helped me become a healthier person. I really do feel like I am 24 again. I have the energy and strength that I did when I was younger. I am in the best shape that I have ever been in my life minus the gray hairs of course. Usana has also brought me the time freedom and residual income that many of us seek. I am truly proud to be part of the Usana family.

What I find most useful about Usana:

I find that being part of an enormous family committed to making people’s lives better through living healthier lives and on the business side, making people’s dreams a reality. Everyone is so helpful and supportive. You can call or email anyone 24/7 and have your questions or concerns answered. You are in business for yourself but not by yourself. Everyone is genuinely interested in Your Success.

Who would benefit from purchasing Usana:

There are two sides to it.

The first group of people who would greatly benefit from purchasing Usana products is anyone looking to live a longer and healthier life!

The second being the business oriented people looking for a true Residual Income company that is going to be around for the rest of time.

How quickly Usana can help someone:

From the supplement side, the effects have been noticed as quickly as a few days. Dr. Strand suggests that to experience the full true benefits of the product that it usually takes about six months to experience to true benefits of the product. This is not a problem because we are not taking these supplements as instant treatment for some ailment.

The Business side could show you returns in as little as a couple of weeks after Getting Started. As you build your business you will experience the benefits of their compensation plan that is like no other!

Proof that Usana really works:

Click here to see the proof!

Negatives about Usana:

I really couldn’t find anything other than why it took me so long to find them.

Additional skills or tools needed to get the most out of Usana:

You don’t need anything other than the willingness and ability to be taught, desire to fire your boss and improve the lives of those you meet.

My final words about Usana:

I have to say that I like Usana because the product came before the business.

Dr. Myron Wentz‘s story should be one of the first few things you see before you make any decisions. Nothing compares to Usana in any aspect. True first class Company.

I feel so lucky to be apart of Usana. It is the one business that will be with me for the rest of my life and passed down to my son when I am gone.

There is no reason why you shouldn’t get started today.

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Credit cards with the best rewards

August 31st, 2010 by admin

Credit cards

Image via Wikipedia

Whether you want travel perks, cash back or a discount on gasoline, there’s a card that caters to you.

By Kiplinger’s Personal Finance MagazineCredit card issuers are ramping up efforts to entice you to choose — and use — their cards. Direct-mail offers doubled in the second quarter of this year compared with the same period a year earlier, to about 988 million, according to Mintel, a market-research company. More than 80% of the offers were for rewards programs, and many of the perks are juicy — double miles, 5% cash back, even contributions to your individual retirement account.

But not all rewards cards are worthy of a place in your wallet. To get the benefits, you may be required to charge a certain amount. Plus, the number of points you can rack up may be capped, and the window to use your points may be narrow. An increasing number of rewards cards charge annual fees — although they’re often waived for the first year. 

 

Used strategically, rewards cards can pay off handsomely. Scott Bilker, the founder of the credit card advice website DebtSmart, says he received an offer for a 10% cash-back card from Citibank a few years ago. At the time, Bilker was remodeling his kitchen. Once he confirmed the offer, he signed up, charged his new kitchen cabinets and saved $1,000.

But if you tend to carry over a balance on your credit cards, you probably shouldn’t sign up for a rewards program in the first place, because rewards cards usually charge hefty interest rates. Whatever you earned in perks would likely be eaten up by interest payments.

Debt dilemma: Credit cards or mortgage?

Of course, different lifestyles and shopping habits call for different cards. If you’re a frequent traveler, you can earn air miles and perks from a travel rewards card that more than offset an annual fee. If you don’t travel enough to use miles, a cash-back card may be a better choice. And if you have a long drive to work, a gas card could be a winner. 

Among the hundreds of choices, Kiplinger found standouts in four rewards categories: travel, cash back, retail/gas and so-called hybrid cards, which let you customize your card’s features or benefits. Banks are beefing up rewards programs for debit cards as well, although they usually aren’t as generous as the credit card programs.

Travel

For travel rewards cards, the possibilities are virtually endless. If you want to be able to transfer miles to more than a dozen frequent-flier programs and are willing to pay off your balance each month, the American Express Premier Rewards Gold charge card fits the bill. Each dollar you spend on airline tickets earns you three points, and a dollar spent on gas or groceries gets you two points. For other purchases, you earn one point per dollar. (One point translates to one mile in airline frequent-flier programs.) 

With this card, you don’t have to worry about a limit on your points; nor will they expire. You’ll pay a $175 annual fee, but it’s waived the first year. Because it’s a charge card, not a credit card, you may not roll over a balance to the next month.

We also like the PenFed Premium Travel Rewards American Express credit card for those who are eligible to join Pentagon Federal Credit Union. The card, which earns you five points per dollar spent on airline tickets, three points on hotels and dining, and one point on other purchases, has an annual fee of just $50 (waived the first year). To qualify for the card, you must be a member of the PenFed Credit Union, which costs $20, but you can use your points on any airline. Caveat: You’ll need to use your rewards quickly; they expire after five years. You can carry a balance at a variable interest rate of 13.24%.

Among rewards cards without annual fees, the Simmons First Visa Platinum Travel Rewards card, with a 9.25% variable rate, gives you one point for every dollar you spend. It takes 22,000 points to qualify for an airline ticket (worth up to $325 to go anywhere within the 48 contiguous states). You can also use your points for hotel stays, restaurants and car rentals. You have three years to use points before they expire.

When you use the Capital One Venture Rewards card, you not only earn two miles per dollar spent but you pay no foreign-currency-conversion fee if you use the card abroad. You get 10,000 bonus miles if you spend $1,000 in the first three months you use the card. The interest rate is a reasonable 13.9% variable rate, and the $59 fee is waived for the first year. You can redeem your miles for flights on any airline, hotel stays and merchandise, to make charitable donations or to get a credit on your statement.

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RBC ranks as world’s 10th safest bank

August 31st, 2010 by admin

Royal Bank of Canada ranks 10th among the world’s safest banks, according to Global Finance’s 19th annual list. France’s Caisse des Depots et Consignations topped the magazine’s 2010 rankings, followed by names from the Netherlands, Germany and Switzerland to round out the top ten.

Toronto-Dominion Bank broke the top twenty with a rank of 15th, while Bank of Nova Scotia was 22nd. Caisse centrale Desjardins (an affiliate of Desjardins Group) came in at 25th, Bank of Montreal was 36th and CIBC 37th. That had these six Canadian banks dominating the list of the ten safest banks in North America.

Read the rest of this entry »

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Pilih Makanan Mengenyangkan Selama Ramadan

August 31st, 2010 by admin

Jenis makanan ini bisa memenuhi nutrisi tubuh sehingga membuat Anda kenyang lebih lama.

VIVAnews – Kunci agar puasa Anda berjalan lancar adalah kebutuhan nutrisi yang terpenuhi, baik saat makan sahur maupun berbuka. Nutrisi yang terpenuhi akan membuat Anda kenyang lebih lama, sehingga tidak terlalu merasa lapar saat berpuasa.

Tubuh membutuhkan protein, vitamin, mineral dan juga yang tak kalah penting adalah kalsium. Alasan itulah yang membuat Anda harus lebih pintar dalam memilih makanan. Pilihlah makanan yang mengenyangkan dan tidak membuat gula darah meningkat drastis, yaitu makanan yang memiliki indeks glikemik rendah.

“Makanan yang membuat kenyang dalam waktu lama adalah makanan yang membutuhkan waktu untuk proses mencernanya. Makanan tersebut yaitu, karbohidrat kompleks, contohnya sayur, buah, kacang-kacangan, roti gandum, dan pasta gandum,” kata Yesim Celik, ahli gizi dari Memorial Sisli Hospital, Turki seperti dikutip dari Todayszaman.com Readmore….

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