Thursday, May 15, 2008

Custom Homes



I've finally made my decision - I want to have my own home built. Now, here's my problem... there are about a million different options to consider. I think I'm going to need to call in some professional help. I'm currently doing a lot fo research online at pages like this review of Schumacher Homes. Companies like this look promising, I just need to get my land situation squared away first.

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Sunday, April 27, 2008

Classy Mantel Clocks



The girlfriend and I are going through the transition of moving in together, and we're compromising on a lot. One of the things I put my foot down about was my office... aka the "guest bedroom". At least, she wanted a guest bedroom. I vetoed that one, and used up all my... veto-powers on that one room. Ah well, it'll be worth it. I'm going through now and picking up a seth thomas mantel clock for the shelf thats directly across from my desk. The desk is going to be shit - the desk doesn't matter though. I'll spend $50 on a bare-bones desk, and then drop $700 on the best chair I can get my hands on. The chairs really all that matters... the desk just needs to have legs and a flat surface. The chair is what I'm going to be sittin in for hours on end. Thoughts?

Wednesday, March 26, 2008

new loan blog



I'm in the market for a new house, so I've been looking around for some info and tips about applying for, and getting a home loan. I found this blog that has a ton of info on the topic. Take a look!

Wednesday, March 5, 2008

Columbia Fund Takes On The Forsaken (Investor's Business Daily)



Investor's Business Daily - Guy Pope loves misery. "I try to take advantage of fear and pessimism around stocks," said the manager of Columbia Common Stock Fund (NASDAQ:SMGIX - News).

'Sea change' seen in spouse's financial roles



Long-held stereotypes about marriage and money are biting the dust as couples grapple? with ?today's economic realities, according to our exclusive Elle/msnbc.com survey.




Love (and money) story of our time



Check out some of the surprising findings of our exclusive Elle/msnbc.com survey on attitudes toward money, sex and love.

Grim jobs, services deal blow to economy (Reuters)



A sign at a landscape supply company advertises available jobs in Arvada, Colorado October 5, 2007. U.S. private employment fell unexpectedly for the first time in nearly five years in February, according to a private report on Wednesday that dealt another blow to an economy teetering on the brink of recession. (Rick Wilking/Reuters)Reuters - The slumping U.S. service sector and
weakening job market dealt further blows on Wednesday to an
economy teetering on the brink of recession, while the
beleaguered factory sector produced more bad news.




Costco, BJ's quarterly profits rise (Reuters)



A view of the Costco store in Superior, Colorado June 7, 2007. Costco on Wednesday said its second quarter profit rose compared with a year earlier when it recorded charges for expensing stock options. (Rick Wilking/Reuters)Reuters - Costco Wholesale Corp and
BJ's Wholesale Club Inc posted higher quarterly profits
and better-than-expected February sales on Wednesday as the
warehouse clubs attracted bargain-hunting U.S. shoppers looking
for deals on food and fuel.




2008 retirees need $225,000 for health care



A couple retiring this year will need about $225,000 in savings to cover medical costs in retirement, according to a study released Wednesday by Fidelity Investments.

Tuesday, March 4, 2008

Chinese premier calls for price controls (AP)



AP - China's premier on Wednesday called for "powerful measures" to rein in inflation that is battering ordinary Chinese, saying the government will use price controls and curb soaring investment to hold prices to a 4.8 percent annual rise.

Banks should accept mortgage principal cuts: Bernanke (Reuters)



Federal Reserve Board Chairman Ben Bernanke (R) shakes hands with the Chairman of Independent Community Bankers of America (ICBA) James Ghiglieri, Jr. during the ICBA's annual convention in Orlando, Florida, March 4, 2008. Bernanke on Tuesday warned mortgage delinquencies and foreclosures were likely to rise and that more house price declines could be expected, and called for active measures to stabilize housing markets. (Scott Audette/Reuters)Reuters - Banks may have to swallow
reductions in the principal of some troubled home loans to ward
off greater losses that could result from outright default,
Federal Reserve Chairman Ben Bernanke said on Tuesday.




10 Tips: Rent a car without breaking the bank



Feb. 23: MSNBC.com's Bob Sullivan tells NBC's Lester Holt about new fees being added to some rental car agreements, and how to avoid getting stung by them.?(Today Show)Even if you’ve rented a car many times in the past, it’s still possible to experience that deer-in-the-headlights feeling as you stand at the counter and talk to the rental agent.




Market sinks on Citi forecast, oil's drop (Reuters)



Traders work on the floor of the New York Stock Exchange, February 21, 2008. (Keith Bedford/Reuters)Reuters - U.S. stocks dropped more than 1
percent on Tuesday as concerns about further losses at
Citigroup weighed on the financial sector and a sharp pullback
in oil prices dragged down energy shares.




Bernanke sees more house price drops (Reuters)



Federal Reserve Board Chairman Ben Bernanke delivers a speech to the members of the Independent Community Bankers of America Annual Convention in Orlando, Florida, March 4, 2008. Bernanke on Tuesday warned mortgage delinquencies and foreclosures were likely to rise and that more house price declines could be expected, and called for active measures to stabilize housing markets. (Scott Audette/Reuters)Reuters - Banks may have to swallow
reductions in the principal of some troubled home loans to ward
off greater losses that could result from outright default,
Federal Reserve Chairman Ben Bernanke said on Tuesday.




Staples profit near flat; outlook lowered (Reuters)



A Staples store is seen in this undated file photo. Staples Inc on Tuesday said its quarterly profit was roughly flat as international sales helped offset a slowdown in North American stores. (Files/Reuters)Reuters - Staples Inc , the No. 1 office
supply retailer, on Tuesday posted a flat quarterly profit and
cut its full-year outlook, citing a weak economic climate.




Monday, March 3, 2008

GM to idle 6 plants, Axle strike impact widens (Reuters)



Reuters - General Motors Corp said on
Monday two more assembly plants were running out of parts and
would have to be idled as the impact from a week-long strike
against supplier American Axle & Manufacturing widened
for the No. 1 U.S. automaker.

World stocks, dollar tumble on bank, economy woes (Reuters)



The NYSE sign is seen above the floor of the New York Stock Exchange in this file photo taken on January 22, 2008. With so many Americans now relying on volatile stock portfolios for their retirement savings, Wall Street's latest slide has some worried they may be destined to struggle with financial instability in old age.  To match feature USA-HOUSING/401K  REUTERS/Brendan McDermid (UNITED STATES)Reuters - World stocks tumbled while the dollar
plumbed record lows on Monday as fresh concerns about the
health of the banking sector and a U.S. recession drove
investors to safe-haven gold and government bonds.




U.S. retail gasoline price nears record: government (Reuters)



A Ford dealership in a Denver suburb in a file photo. U.S. auto sales tumbled in February in the face of a slumping economy and high gas prices with double-digit declines by all three struggling Detroit-based automakers. (Rick Wilking/Reuters)Reuters - U.S. retail gasoline prices rose
closer to record levels last week, up 3.2 cents from the
previous week due to higher crude oil costs, the government
said on Monday.




US manufacturing contracted in February (AP)



Roberto Morales maneuvers boxes of fabric at Drapes 4 Show Tuesday, Feb. 26, 2008, in Calabasas, Calif.  The Institute for Supply Management's manufacturing index clocked in at 48.3 in February. That was the weakest reading in nearly five years. (AP Photo/Ric Francis)AP - U.S. manufacturing activity declined in February to its weakest level in nearly five years, an industry group survey showed Monday, heralding more instability in the job market and frailty in the overall economy.




Treasurys rally as stocks cave in (AP)



AP - Treasury prices rallied Friday, benefiting from a sharp decline in equity markets as investors reacted to weak economic reports and disappointing corporate earnings. The stock selloff sent the Dow Jones industrial average down more than 300 points.

Genesco, Finish Line agree to settlement (AP)



AP - Genesco Inc. announced on Monday it has agreed to end a legal battle to compel Finish Line Inc. and UBS AG to proceed with a proposed $1.5 billion buyout of the specialty retailer.

Sunday, March 2, 2008

Subprime, debt still largest econ threat: poll (Reuters)



Reuters - The combined punch of subprime
mortgage defaults and heavy debt remains the biggest risk to
the health of the U.S. economy, a panel of business economists
said on Monday.

Investors Dump Equities For Bonds (Investor's Business Daily)



Investor's Business Daily - Investors trying to come to grips with a sharp market sell-off yanked $44.84 billion from stock funds in January, reversing December's inflow of $2.17 billion, according to the Investment Company Institute.

Answer Desk: Why are mortgage rates jumping?



If the Federal Reserve is busy cutting interest rates, why are mortgage rates jumping? The Answer Desk, by msnbc.com's John W. Schoen.




Venezuela urges OPEC to study Exxon row (Reuters)



Reuters - Venezuela wants next week's OPEC
meeting to discuss its escalating legal battle with Exxon Mobil
, a Venezuelan official was reported by Algeria's
official APS news agency as saying on Saturday.

Oil prices won't fall under $60-$70: Naimi (Reuters)



Reuters - Oil prices won't fall below $60 to $70
a barrel as this is the minimum level at which alternative
fuels are economically viable, Saudi Oil Minister Ali al-Naimi
said in remarks published on Sunday by Algeria's APS news
agency.

Motorola wins $335 million Saudi contract (Reuters)



Reuters - Motorola Inc said on Sunday it won a
$335 million contract with Zain Saudi Arabia to deploy and
manage a mobile phone network.

Saturday, March 1, 2008

Meter still running on GM's Delphi ride (Reuters)



Reuters - Almost a decade after spinning off
Delphi Corp and more than two years after the auto parts maker
filed for bankruptcy, General Motors Corp is still
grappling with the costly legacy of its former subsidiary.

Northrop-EADS beats Boeing to build U.S. tanker (Reuters)



Reuters - Northrop Grumman and Airbus parent
EADS won a $35 billion U.S. Air Force refueling plane deal on
Friday in a surprise blow to Boeing, until now the Pentagon's
sole supplier of aerial tankers.

Buyout firms put energy infrastructure in pipeline (Reuters)



Reuters - Private equity firms are snapping up
energy infrastructure assets like pipelines and storage
facilities, which are some of the few buyouts likely to attract
financing as credit markets remain in a deep freeze.

Credit crisis throws AIG into "uncharted waters" (Reuters)



Reuters - American International Group ,
on the heels of reporting its largest-ever loss, said on Friday
the subprime crisis had thrown it into "uncharted waters" that
were likely to remain choppy through 2008.

Fed officials vow to keep watch on inflation (Reuters)



US Federal Reseve Chairman Ben Bernanke testifies before the Senate Banking, Housing and Urban Affairs Committee during his semiannual monetary policy report February 28, 2008 in Washington, DC. US consumer spending showed a modest improvement in January according to a government survey Friday, but Americans' spending power was eroded as stores marked up the prices of goods.(AFP/GETTY IMAGES/File/Chip Somodevilla)Reuters - The Federal Reserve's rapid-fire
interest rate reductions were warranted, but the central bank
must reverse course quickly once calm is restored to financial
markets, Fed officials said on Friday.




Consumer spending stalls (AP)



Julian Andino, left, Chrisellda Arellano examine computers at Best Buy Wednesday, Feb. 27, 2008, in Atwater Village section of Los Angeles. Consumer spending was essentially flat for the second straight month in January, raising new concerns about a possible recession. (AP Photo/Ric Francis)AP - Consumer spending is threatening to stall out while consumer confidence, battered by soaring energy costs and falling home prices, has taken a steep nosedive.




Friday, February 29, 2008

Berkshire net down 18 percent, Buffett eyes successors (Reuters)



Reuters - Warren Buffett's Berkshire Hathaway
Inc said on Friday quarterly profit fell 18 percent, hurt by
lower earnings from insurance underwriting and a decrease in
investment gains.

Wall Street woes a drag on FTSE (FT.com)



FT.com - Yell was hit by heavy selling again Thursday after a US rival reduced its earnings forecast because of the weakening domestic economy.

Microsoft Will Slash Retail Prices for Vista With SP1 (NewsFactor)



NewsFactor - Microsoft said on Thursday it plans to slash prices on its Windows Vista operating system sold through retail channels. The company wants consumers to upgrade to the latest version of its flagship product.

FTSE lower after Rentokil warning (FT.com)



FT.com - Rentokil Initial led the FTSE 100 lower on Thursday after a profit warning, while rumours that a London-based hedge fund was in trouble added to nervousness.

Consumer sentiment, regional factories sound recession bell (Reuters)



Reuters - The alarm bells of U.S. recession rang
louder on Friday as reports showed business activity in the
U.S. Midwest plummeted in February and consumer sentiment
slumped to a 16-year low.

Tentative recovery in German retail spending, data shows (AFP)



Germany's highest court ruled Wednesday that the state was allowed to spy on Internet communications where it could prevent loss of life or an attack on the country. German consumers returned to the shops in January, fresh data suggested, raising prospects that Europe's biggest economy has rebounded after a lacklustre end to 2007.(AFP/DDP/File/Michael Latz)AFP - German consumers returned to the shops in January, fresh data suggested on Friday, raising hoped that Europe's biggest economy has rebounded after a lacklustre end to 2007.




Thursday, February 28, 2008

Proposed mortgage aid would do harm: Paulson (Reuters)



Reuters - Plans for sweeping federal programs
that would aid troubled mortgage borrowers would bring unfair
relief to speculators and reward investors who made bad bets,
Treasury Secretary Henry Paulson said on Thursday.

London shares close down sharply (AFP)



An art installation at the London Stock Exchange. UK blue chips closed sharply lower today, down over 100 points following poor US data, with a glut of corporate depressing results, notably Rentokil Initial.(AFP/File/Ben Stansall)AFP - UK blue chips closed sharply lower today, down over 100 points as the DJIA also posted triple-digit falls following some disappointing US data, with a batch of corporate results a depressant, notably for Rentokil Initial.




Sears, Kohl's see 4Q profits fall (AP)



Snowblowers are lined up in front of the Sears store in Berlin, Vt., in this Nov. 29, 2007 file photo. Department store chain Sears Holdings Corp. said its fourth-quarter profit tumbled 47 percent because of continued poor performance at its Kmart and U.S. Sears stores. (AP Photo/Toby Talbot, file)AP - More evidence of a consumer spending malaise surfaced Thursday as Sears Holdings Corp. and Kohl's Corp. reported double-digit profit drops in the fourth-quarter.




FTSE turns round on US rally (FT.com)



FT.com - Marks and Spencer was in focus on Wednesday amid speculation a that US value investor had been picking up stock.

ABN Amro reveals profit leap and 1.56-billion-euro subprime hit (AFP)



An ABN Amro building is pictured in central London. Dutch bank ABN Amro reported a profits leap for 2007 owing to special factors and despite a writedown of 1.561 billion euros (2.36 billion dollars) on account of the US subprime home-loan crisis.(AFP/File/Chris Young)AFP - Dutch bank ABN Amro reported a profits leap for 2007 on Thursday owing to special factors and despite a writedown of 1.561 billion euros (2.36 billion dollars) on account of the US subprime home-loan crisis.




Scarce shoppers sap Sears 4Q profit (AP)



AP - Department store chain Sears Holdings Corp. said its fourth-quarter profit tumbled 47 percent because of continued poor performance at its Kmart and U.S. Sears stores.

Wednesday, February 27, 2008

U.S. home sales, goods orders feed recession fears (Reuters)



Reuters - Sales of new U.S. single-family
homes slumped to a 13-year low in January and demand for
long-lasting goods declined more than expected, government data
showed on Wednesday, fueling fears of a recession.

Bourses fall as banking rally fades (FT.com)



FT.com - European banks gave back some of the gains achieved in the last two sessions after disappointing results from Britain's HBOS and Sweden's Handelsbanken.

Economy - Wednesday (Investor's Business Daily)



Investor's Business Daily - Home loan demand dived 19.2% in the week ended Feb. 22 as mortgage rates continued to rebound, the Mortgage Bankers Assoc. said. MBA's applications index fell to 665.1, the lowest so far in '08 and down 39% over 3 weeks. Refi activity plunged 30.4% during the week. Mortgage applications for buying a home edged up 0.2% from the prior week's near-5-year low. The 30-year fixed-rate mortgage hit 6.27%, up from 6.09% a week before and 5.5% in the week ended Jan. 18.

Regulator investigating Office Depot (Reuters)



Reuters - The Securities and Exchange Commission
is investigating communications that Office Depot Inc
had last year with Wall Street analysts, the No. 2 office
supplies retailer said.

Wall St gains as government loosens home loan reins (Reuters)



Traders gather on the floor of the New York Stock Exchange Wednesday, Feb. 27. 2008. Wall Street advanced Wednesday after Federal Reserve Chairman Ben Bernanke said the central bank will remain vigilant should inflation accelerate but also would remain open to interest rate cuts to help the economy. (AP Photo/Richard Drew)Reuters - Stocks gained on Wednesday on news
that the government will let the two biggest U.S. home loan
finance companies invest more money in the weak housing market
in a move that could help revive the economy.




Apple's iTunes Store Is No. 2 in Music Sales (NewsFactor)



NewsFactor - Move over, Best Buy. Watch out, Wal-Mart. Apple's iTunes Store is now the number-two music retailer in the U.S., behind only Wal-Mart, based on the latest data from the NPD Group MusicWatch survey, which tallied the amount of music sold during 2007. Apple sold more than four billion songs, with 20 million sold on Christmas day.

Tuesday, February 26, 2008

US stocks edge higher despite grim data (FT.com)



FT.com - US stocks moved higher on Tuesday as investors weighed economic data that showed a stronger-than-expected uptick in January producer prices, a sharp fall in consumer confidence against encouraging corporate news.

Target, Macy's shares up amid slow sales (AP)



Shoppers walk past Macy's in New York on Monday, Feb. 25, 2008. Macy's says its profit edged up 2.3 percent in the fourth quarter as a tax settlement helped offset weaker-than-expected sales. (AP Photo/Mark Lennihan)AP - In a slowing economy, the more upscale the retailer, it seems, the more they're struggling.




10 Tips: Renting rather than buying?



Given the current state of the housing market in many parts of the country, it might make more financial sense for you to rent for the time being rather than buy a home.

Insurers help boost European bourses (FT.com)



FT.com - European equity markets were higher on Tuesday after financial stocks enjoyed further gains, although most indices were off their best levels after a lacklustre open on Wall Street.

The Cheapest College Savings Plans (The Motley Fool)



The Motley Fool - College will cost an arm and a leg (and maybe an ear and an eyeball, too) by the time your little ones graduate from high school. Start saving now, and consider using a 529 investment account to get some great tax advantages.

Apple's iTunes grows to No. 2 U.S. music retailer (Reuters)



A customer checks out Music Store (on a screen) with Apple iTunes at an Apple store in Tokyo, August 25, 2006.. Apple Inc's iTunes digital media store has become the second-largest U.S. music retailer, behind Wal-Mart Stores, according to data released on Tuesday from tracking firm NPD Group. REUTERS/Kiyoshi Ota/FilesReuters - Apple Inc's iTunes digital
media store edged out Best Buy Co and Target Corp
to become the second-largest U.S. music retailer,
behind Wal-Mart Stores , according to data released on
Tuesday from tracking firm NPD Group.




Monday, February 25, 2008

Stocks jump after relief on bond insurers (Reuters)



Japanese businessmen pass by an electronic stock indicator in Tokyo Monday, Feb. 25, 2008. Japan's benchmark Nikkei index jumped 3 percent Monday, rising to a month-and-a-half high as players snapped up financial issues amid eased concerns about the U.S. financial sector. The Nikkei 225 index jumped 414.11 points, or 3.07 percent, to 13,914.57 points on the Tokyo Stock Exchange. It was the Nikkei's highest close since Jan. 15.  (AP Photo/Shizuo Kambayashi)Reuters - U.S. stocks rose more than 1 percent
on Monday on signs the two largest bond insurers would
stabilize, bringing a wave of relief to a market dogged by
concerns of further bank write-downs.




Delta, Northwest shares fall amid merger doubts (Reuters)



Reuters - Delta Air Lines Inc and
Northwest Airlines Corp shares fell on Monday partly on
concerns their merger talks may fail on the inability of pilots
to agree on how to combine their ranks.

Banking bid talk boosts FTSE (FT.com)



FT.com - London equities made strong gains on Monday, with banking stocks energised by a flurry of bid speculation in the sector.

Existing home sales slip and prices tumble (Reuters)



Reuters - Sales of existing homes fell for a
sixth straight month in January, while prices tumbled 4.6
percent amid swelling inventories, according to a report on
Monday that offered no end in sight for the housing slump.

Ambac rescue talk lifts Asian shares (FT.com)



FT.com - Asian stock markets started the week on a cautiously upbeat note after speculation over the weekend of a rescue plan for Ambac, a leading US bond insurer, but comments by China's central bank helped send shares in Shanghai to seven-month lows.

Lowe's posts lower 4Q profit (AP)



Wiley Walker, right, checks out contractors buying supplies at a Lowe's home improvement store in Matthews, N.C., Monday, Feb. 25, 2008. Lowe's Cos., the nation's second biggest home improvement retailer, said Monday that a softer U.S. housing market helped drive its fourth-quarter earnings down 33.4 percent. (AP Photo/Chuck Burton)AP - Lowe's Cos., the nation's second biggest home improvement retailer, said Monday that a softer U.S. housing market helped drive its fourth-quarter earnings down 33.4 percent.




Sunday, February 24, 2008

India to sustain growth, control prices: president (Reuters)



Reuters - India's government will try to
sustain high rates of economic growth while keeping prices
under control, President Pratibha Patil told a joint session of
parliament ahead of Friday's federal budget.

Wall Street rebounds on bond insurer hopes (FT.com)



FT.com - US stocks rebounded in late trading on Friday on hopes that a plan to bail out troubled bond insurer Ambac Financial would soon be announced and calm fractious markets.

Answer Desk: A hostile takeover playbook



If Microsoft has the cash to buy rival Yahoo, why can’t it just call up a stock broker and? buy? all of Yahoo's stock? The Answer Desk, by msnbc.com's John W. Schoen.

Venezuela considered swap in Exxon dispute (Reuters)



Reuters - Venezuela offered to resolve its
nationalization dispute with U.S. energy giant Exxon Mobil by
withdrawing from its stake in the Chalmette refinery, a top
energy official told local media in comments reported on
Sunday.

Nokia: Delaware case unlikely to solve Qualcomm row (Reuters)



Reuters - Cellphone maker Nokia (NOK1V.HE) said
on Sunday its agreement in a U.S. court in Delaware with
Qualcomm was unlikely to solve the major legal battle over
patent fees between the two technology heavyweights.

Seldom-read home loan docs must change: experts (Reuters)



Reuters - The papers that U.S. borrowers sign
when buying a house are piled so high that few people read them
all, and even fewer absorb the information.

Saturday, February 23, 2008

Talk of bond insurer rescue spurs late stock rally (Reuters)



Traders work in the oil futures pit of the New York Mercantile Exchange in New York, February 22, 2008. Oil rose to near $99 a barrel on Friday as an incursion into Iraq by Turkish troops and cold weather in the U.S. Northeast outweighed concerns about mounting problems in the U.S. economy.   REUTERS/Brendan McDermid (UNITED STATES)Reuters - U.S. stocks rallied late on Friday on
news that banks were near an agreement to bail out bond insurer
Ambac Financial, a deal that could prevent further damage to
the banking industry and credit markets.




EU to consider sovereign wealth fund voluntary code (Reuters)



Reuters - The European Commission will consider
a code of conduct asking sovereign wealth funds run by
countries to stress commercial goals rather than strategic
considerations when making investments, an EU official said.

3Com rebuff due to 'complexities' and costs -Huawei (Reuters)



Reuters - Bain Capital Partner's $2.2 billion
bid to buy 3Com Corp with China's Huawei Technologies
failed due to acquisition complexities and rising costs, Huawei
said in its first public comments since U.S. national security
concerns scuppered the deal on Wednesday.

Fortis rapidly merging ABN AMRO fund unit - paper (Reuters)



Reuters - The merger of the asset management
divisions of ABN AMRO and Fortis is proceeding faster than
planned, a senior Fortis banker was quoted as saying.

Fed's Fisher warns on growth but wary of inflation (Reuters)



Reuters - The U.S. economy is in a
slowdown that could steepen but inflation is also a threat that
must not be ignored, the president of the Dallas Federal
Reserve Bank, Richard Fisher, said on Friday.

Friday, February 22, 2008

FTSE turns lower as miners weigh (FT.com)



FT.com - London equities ended lower on Friday after a clutch of broker downgrades hit the retail sector, while falling metals prices promted some profit taking in the miners.

What Investors Need to Know About Taxes (The Motley Fool)



The Motley Fool - In 1913, the income tax was simple, with a one-page form. Taxes ranged from 1% to 7%, and less than 1% of the population made enough money to have to pay the tax.

In denial: Why file tax returns?



Actor Wesley Snipes arrives at the Federal Courthouse in Ocala, Florida February 1, 2008. Snipes, star of the "Blade" movie series, was found guilty of three misdemeanors by a U.S. court on Friday for failing to file tax returns but was acquitted of more serious charges. The 45-year-old actor faces up to three years in prison, prosecutors said.     REUTERS/  (UNITED STATES)While we may sometimes fantasize about just not paying our income taxes, such wishful thinking has turned into actions of denial by some would-be filers. Big mistake.




Economic fears prime US stocks for lacklustre start (FT.com)



FT.com - Wall Street stocks were set for a flat start on Friday as worries about the outlook for the US economy and the threat of inflation continued to weigh on confidence.

Vanguard names successor to CEO Brennan (AP)



AP - The Vanguard Group announced Friday that F. William McNabb III was named president and director and will take over within a year as CEO of the nation's second-largest mutual fund company.

Best Buy to ramp up China expansion, shuns partners (Reuters)



Reuters - Top U.S. electronics retailer Best Buy
Co , facing stagnant sales at home, said on Friday it
would ramp up its expansion in China but would not grow through
partnerships with local rivals.

Thursday, February 21, 2008

MBIA says municipal, corporate units should split (Reuters)



Reuters - MBIA Inc , struggling to
preserve the top-level credit ratings it needs to operate
normally, said on Thursday its industry should insure municipal
bonds as a separate business from insuring riskier corporate
and asset-backed debt.

LG Elec says can win market share from Motorola (Reuters)



Reuters - LG Electronics Inc (066570.KS), the
world's fifth-largest mobile phone maker, said on Friday
difficulties at rival Motorola Inc give it a strong
chance to win market share from the world No.3.

European shares rally as miners shine (AFP)



People walk past the London Stock Exchange. European stock markets rallied on Thursday, boosted by a late rally on Wall Street and strong gains for heavyweight mining shares which soared on record high metals prices, dealers said.(AFP/File/Shaun Curry)AFP - European stock markets rallied on Thursday, boosted by a late rally on Wall Street and strong gains for heavyweight mining shares which soared on record high metals prices, dealers said.




Tech set to spur gains on Wall Street (FT.com)



FT.com - Wall Street stocks were set for a higher start on Thursday with technology stocks leading the way after an analyst upgraded Cisco (NASDAQ:CSCO)'s shares and Research in Motion (NASDAQ:RIMM) raised its forecast for Blackberry subscriber numbers.

Habits for Wealth: Dump Your Debt Habit (The Motley Fool)



The Motley Fool - Do you have an unhealthy dependence on consumer credit? See how many of these statements describe you:

Short quarter trims JC Penney 4Q profit (AP)



AP - J.C. Penney Co. said Thursday its fourth-quarter profit fell 10 percent as its middle-class customers struggled with a weakening economy, and the department store retailer predicted modest earnings this year.

Wednesday, February 20, 2008

Banks bear brunt of FTSE losses (FT.com)



FT.com - London equities fell fast on Wednesday with the banking sector hit by news of a big drop in annual profits at Alliance & Leicester after the extent of the damage done by the credit crunch became clear.

Global retail giants battle for market share in China (AFP)



File photo shows a paedestrian walking past a Wal-Mart signboard in Beijing. With millions of consumers at stake, global retail giants Carrefour and Wal-Mart are battling it out for market share in China with aggressive expansion plans aimed at opening ever more stores.(AFP/File/Teh Eng Koon)AFP - With millions of consumers at stake, global retail giants Carrefour and Wal-Mart are battling it out for market share in China with aggressive expansion plans aimed at opening ever more stores.




10 Tips: Dating services help



Consumer complaints about dating services has jumped 73 percent. If you’re using a dating service, these tips can help you avoid feeling heartbroken because you spent too much.

Two gift retailers file for bankruptcy (AP)



AP - A weak holiday season and a struggling economy led retailers Sharper Image Corp. and Lillian Vernon Corp. to file for bankruptcy this week, and analysts predict others could soon follow them as consumer spending worsens.

Supreme Court allows retirement plan suits



The Supreme Court ruled Wednesday that individual participants in the most common type of retirement plan can sue under a pension protection law to recover their losses.

The most overpriced suburbs in America



371736 16: A resident of a gated community in West Palm Beach, FL, watches an alligator that had been a nuisance to her community June 27, 2000 and will soon be killed. (Photo by Robert King/Newsmakers)While many of the nation's homeowners are worried about falling home prices, others would argue they're not falling fast enough.




Tuesday, February 19, 2008

Investor's Corner: Use Fund Data To Find Promising Stocks (Investor's Business Daily)



Investor's Business Daily - Hunters follow footprints when they stalk big game. Likewise, investors can follow the tracks of mutual funds to spot winning stocks.

Wal-Mart sees modest profit gain in 'volatile economy' (AFP)



A shopper outside a Wal-Mart. Wal-Mart Stores, Inc. reported a modest four percent rise in quarterly profits on Tuesday as the world's biggest retailer appeared to weather an abrupt slowdown in US economic growth.(AFP/File)AFP - Wal-Mart Stores, Inc. reported a modest four percent rise in quarterly profits on Tuesday as the world's biggest retailer appeared to weather an abrupt slowdown in US economic growth.




More people are tapping their 401(k) for cash



Trent Charlton poses inside his Irvine, Calif. home, Friday, Feb. 15, 2008.  Charlton, a 40-year-old account executive at a trucking company in Irvine, Calif., said he was aware of the risks when he withdrew $10,000 from his 401(k), cutting his retirement savings in half. Trent Charlton knew the risks when he borrowed $10,000 from his 401(k) and cut his retirement savings in half.




FTSE digests mixed news on banks (FT.com)



FT.com - The FTSE 100 climbed above 6,000 on Tuesday afternoon as dealers digested the latest developments in the banking sector.

Wal-Mart profit rises, revenue up (AP)



Shoppers enter the Wal-Mart store in Secaucus, New Jersey in 2007. Wal-Mart Stores, Inc. reported a modest four percent rise in quarterly profits on Tuesday despite an abrupt slowdown in US economic growth.(AFP/GETTY IMAGES/File/Jeff Zelevansky)AP - Wal-Mart Stores Inc., the world's largest retailer, said Tuesday its renewed focus on low prices paid off with a 4 percent rise in profit for its fourth quarter as holiday shoppers bought discounted groceries and home electronics as well as health and wellness products.




How to tell if now is the time to refinance



A sharp drop in mortgage rates has sparked a wave of refinancing. But not everyone qualifies. Here is a guide on whether refinancing might be a good option for you.




Monday, February 18, 2008

Airlines face tough times amid slowdown (AP)



AP - Improved efficiency has helped airlines better prepare for a possible global economic slowdown compared to the last major recession, but expensive fuel continues to hurt bottom lines, an airline industry group said Monday.

FTSE higher on bank dividend hopes (FT.com)



FT.com - Banks led a FTSE 100 rally on Monday at the start of a busy week for the sector.

Answer Desk: Tax rebate riddles



As readers sit down to the annual brain-teaser of filing their income tax returns, this year offers a new enigma. Will I get one of these tax rebates from the government?

Bayer stops late-stage Nexavar trial (Reuters)



Reuters - Bayer HealthCare, a U.S.-based unit of Bayer AG
, stopped a late-stage trial of Nexavar in patients
with non-small cell lung cancer, after an independent data
monitoring committee concluded that the study would not meet
the main goal of improved overall survival.

Alibaba has say in Yahoo, Microsoft talks: source (Reuters)



Reuters - Alibaba Group, the Chinese Internet
firm, will seek a stronger voice for its management team in
Microsoft's talks to acquire Yahoo , Alibaba's largest
shareholder, a source said on Monday.

Iran opens its 1st oil products bourse (AP)



A pressure gauge is seen on a gas pipeline in the town of Boyarka, near Kiev, on February 12. Most voters in five major European countries are wary of Russia as a supplier of their energy needs, according to a poll published Monday. The Financial Times/Harris survey also found that, despite their unease, those same west Europeans were opposed to paying more to switch to renewable sources.(AFP/File/Sergei Supinsky)AP - Iran established its first oil products bourse Sunday in a free trade zone on the Persian Gulf Island of Kish, the country's oil ministry said.




Sunday, February 17, 2008

Britain nationalizes ailing Northern Rock (Reuters)



Reuters - Britain decided to nationalize Northern
Rock on Sunday, abandoning a five-month attempt to
snare a private sector buyer for the ailing bank and piling
more pressure on Prime Minister Gordon Brown.

Four bidders go through in Vin & Sprit auction: paper (Reuters)



Reuters - Sweden's centre-right government has
chosen four bidders in its auction of Vin & Sprit that will be
allowed to perform due diligence of the Absolut vodka maker,
business daily Dagens Industri reported on Sunday.

Economic woes reveal a long-felt unease (AP)



Treasury Secretary Henry Paulson gives his assessment of the economy while testifying on Capitol Hill in Washington, Wednesday, Feb. 13, 2008, before the House Budget Committee. Paulson affirmed the economy as 'diverse and resilient,' adding, 'I believe our economy will continue to grow, although at a slower pace than we have seen in recent years.' (AP Photo/J. Scott Applewhite)AP - Even when experts were declaring the economy healthy, many Americans voiced a vague, but persistent dissatisfaction. True, jobs were relatively plentiful over the last few years. It was easy to borrow and very cheap. The sharp rise in the value of homes and plentiful credit cards encouraged a nation of consumers to get out and buy. But to many people, something didn't feel right, even if they couldn't quite explain why.




Bond insurer plan may inject positive note (Reuters)



Reuters - Efforts to rescue a distraught U.S.
bond insurance industry could inject a positive note on Wall
Street but the economic data and earnings reports on tap for
this week are unlikely to change a downward trend for stocks.

Hard times heighten long-felt unease (AP)



Federal Reserve Board Chairman Ben Bernanke appears before the Senate Banking Committee on Capitol Hill in Washington, Thursday, Feb. 14, 2008, to discuss the state of the economy.   (AP Photo/Dennis Cook)AP - Even when experts were declaring the economy healthy, many Americans voiced a vague, but persistent dissatisfaction.




US stocks lower amid credit concerns (FT.com)



FT.com - US stocks ended the week on a subdued note on Friday when economic data combined with heightened credit concerns sent leading indices lower.

Saturday, February 16, 2008

Credit Suisse CEO sees credit crisis nadir in months (Reuters)



Reuters - The worst of the banking crisis
resulting from the subprime meltdown is likely to be over in
months rather than quarters, Credit Suisse Chief
Executive Brady Dougan was quoted as saying on Saturday.

Bleak economic reports signal recession (Reuters)



Reuters - A series of bleak economic reports
on Friday showed the mood of American consumers deteriorating
in February to a point that has usually signaled recession,
while factory activity in New York state suffered its biggest
drop on record.

Wal-Mart drives another nail in HD-DVD coffin (AFP)



Attendees watch a presentation on HD DVD at the Toshiba booth at the 2008 Consumer Electronics Show in Las Vegas, Nevada. Top US retailer Wal-Mart on Friday drove another nail a coffin for Toshiba's HD DVD video disks by announcing it would shift to exclusively selling Japanese rival Sony's format Blu-ray.(AFP/File/Robyn Beck)AFP - Top US retailer Wal-Mart on Friday drove another nail a coffin for Toshiba's HD DVD video disks by announcing it would shift to exclusively selling Japanese rival Sony's format Blu-ray.




Toshiba to give up on HD DVD, end format war: source (Reuters)



Reuters - Toshiba Corp (6502.T) is planning to give
up on its HD DVD format for high definition DVDs, conceding
defeat to the competing Blu-Ray technology backed by Sony Corp
(6758.T), a company source said on Saturday.

Tata, EADS to bid jointly for Indian Army project (Reuters)



Reuters - India's Tata Advanced Systems said on
Saturday it planned to form a partnership with an arm of
European plane-maker EADS to bid for the Indian Army's
$1 billion tactical communications system project.

Dow and Nasdaq slip on consumer spending worry (Reuters)



A passerby walks past a Tokyo brokerage's stock price board Friday, Feb, 15, 2008 as Japan's benchmark Nikkei stock index fell slightly Friday, Feb. 15, 2008 on Wall Street's drop overnight after Federal Reserve Chairman Ben Bernanke predicted a 'sluggish' economy until later in the year. The Nikkei average fell 3.89 points, or 0.03 percent, to 13,622.56 on the Tokyo Stock Exchange. (AP Photo/Koji Sasahara)Reuters - The Dow and Nasdaq slipped on Friday
on concerns about consumer spending after an index of consumer
sentiment fell to a 16-year low and retailer Best Buy
warned that shopper traffic dropped off after the holidays.




Friday, February 15, 2008

NYSE Euronext to take 5 pct stake in India's commodity exchange (AFP)



Jignesh Shah(L), Managing Director and CEO of MCX, and President and Co-Chief Operating Officer of NYSE Euronext, Catherine Kinney view a presentation at press conference in Mumbai. NYSE Euronext said Friday it will pick up a five percent stake in Mumbai's multi-commodity exchange MCX for 55 million dollars.(AFP/Indranil Mukherjee)AFP - NYSE Euronext, the world's largest financial market group, said Friday it will pick up a five percent stake in Mumbai's multi-commodity exchange MCX for 55 million dollars.