Clean energy firms choose summer solstice to promote solar power

The summer solstice this year as a transition in the seasons, could be a turning point for the solar energy industry as well. A California utility holding company chose the summer solstice, when the sun shines longer than any other day, to announce a $ 100 million fund to finance solar power systems for the home. The summer solstice is also being used by clean energy companies as an occasion to influence public attitudes about solar power as Congress debates climate and energy legislation.

Resource for this article: Clean energy firms choose summer solstice to promote solar power by Personal Money Store

Summer solstice a natural for solar energy

PG & E Corporation's summer solstice announcement of a $ 100 million tax-equity fund to finance solar power systems for homes is the largest solar leasing pool yet created, the company said. PG & E's summer solstice announcement, The New York Times reports, signals that clean energy financing is an emerging trend. The summer solstice announcement follows PG& E's creation of a $ 60 million tax-equity vehicle in January for SolarCity, a Silicon Valley company that also leases solar energy systems to homeowners. And in May, President Obama chose to deliver an address promoting the climate and energy bill at Solyndra, a clean energy company in northern California.

Lease solar panels for your home

The $ 100 million fund announced on the summer solstice is expected to finance solar energy systems for 3,500 homes in Arizona, California, Colorado, Massachusetts and New Jersey. The program is set up to provide homeowners with hassle-free solar energy. Homeowners sign a power deal with SunRun that fixes the cost of their utility bills for up to 18 years, instead of paying up front for a solar energy system costing as much as $ 30,000. In exchange, SunRun installs, owns and maintains the solar energy systems.

Solar energy attitudes

The summer solstice was also appropriate for the clean energy company Applied Materiasl to publish a survey on solar power attitudes. It found that two-thirds of American's say solar power needs to be used more for U.S. energy needs. MarketWatch reports that three-quarters of those interviewed in the survey said more renewable energy and less foreign oil should be top priorities for the U.S.. The representative sample of 1,000 American adults also found that 67 percent of Americans would be willing to pay more for their monthly utility bill if their utility company increased its use of renewable energy, and 49 percent would be willing to pay $ 5 or more each month for an increased amount of renewable energy.

Find more information on this topic

green.blogs.nytimes.com

www.marketwatch.com

Should the U.S. Navy blow up the Macondo oil well?

In a recent New York Times op-ed piece entitled “Blow Up the Well to Save the Gulf,” Christopher Brownfield draws our attention to what could be a better alternative for dealing with the BP oil spill. BP CEO Tony Hayward admitted directly to Congress that his company has no intention of plugging the ruptured Macondo oil well in the Gulf of Mexico any longer. Experts predict the relief well that BP is going to build instead won't even work. In light of BP and the Coast Guard’s inability to even stem the tide of the oil leak, Brownfield makes a suggestion that gives the thinking human being pause. Why prevent the US Navy from stopping the leak?

Source for this article: Should the U.S. Navy blow up the Macondo oil well by Personal Money Store

According to Brownfield we should 'Blow up the well'

Brownfield suggests we don't hesitate and just blow up the well. There are thousands of barrels of oil leaking into the Gulf of Mexico each day, and BP and the Coast Guard lack the resources and expertise to deal with high-powered demolitions of the sort needed to deal with the Macondo oil well effectively. With little effect, billions of dollars have been thrown at this problem.

Brownfield reports that BP and the Coast Guard would still have an important role to play, namely cleanup on the surface. But the U.S. Navy has resources like special submarines that could likely have obtained some real-time info on the well – well in advance of the schedule BP chose to follow. Engineers from Naval Reactors – “the secretive program that is responsible for designing nuclear reactors for nuclear submarines,” says Brownfield – could have already dealt with how to blow up the well, if they’d been given leave to do so by President Obama.

Then conventional Navy demolitions could commence

This is not to say that a submarine fires a torpedo at the well and the blast seals off the oil well. First there would need to be a hole drilled parallel to the Macondo well. Explosive charges (non-nuclear) could be lowered down into the new hole and detonated from a distance. Tons of explosives creating a “pressure wave hundreds of thousands of pounds per square inch” strong would implode BP’s big problem easily, sending so much rock into the well that the flow would be stopped like a giant foot stepping on a garden hose. Brownfield explains that the “expansion and collapse of explosive gases inside the hole would act like a hydraulic jackhammer, further pulverizing the rock.” Nuclear devices wouldn’t even be necessary; they’d just be an overkill, in Brownfield’s view, although Soviet Russia has used them successfully for this purpose before.

Best and worst case scenario

At best, if the Navy blew up the well, the flow would be stopped and long-term cleanup could progress toward an endgame. At worst, the explosions could punch a larger hole and increase the oil flow. Former Naval nuclear sub officer Brownfield believes, “It’s virtually inconceivable that an explosive could blast a bigger hole than already exists and release even more oil,” when the geological features of the ocean bed around the Macondo well are taken into consideration. Considering how much money might just be saved by abandoning ineffective capping techniques (not to mention stemming the tide so that damage to nature and the cost of long-term cleanup can be lessened a lot), it seems the course is clear for politicians with the foresight and courage to give the green light.

Citations

New York Times

nytimes.com/2010/06/22/opinion/22Brownfield.html?ref=opinionhttp://www.nytimes.com/2010/06/22/opinion/22Brownfield.html?ref=opinion

Gen. David Petraeus replaces the commander who was disgraced by Rolling Stone

Gen. David Petraeus is going to replace Gen. Stanley McChrystal as the new U.S. commander in the Afghanistan war. After a profile of McChrystal in Rolling Stone portrayed him as contemptuous of President Obama and of the key members of his national security team, McChrystal offered his resignation and Obama accepted it. Viewpoint has been nearly universal up to now that to preserve America’s civilian control over the military, McChrystal had to go and that Petraeus is the best choice to take over in Afghanistan.

Article Resource: Gen. David Petraeus replaces commander disgraced by Rolling Stone

Political savvy of Petraeus

Gen. David Petraeus took what looked like certain failure in Iraq and brought the U.S. war there toward an acceptable outcome. David Ignatius of the Washington Post said that if the Taliban sold any of the stock, its price would surely have fallen after Wednesday’s announcement that Petraeus would assume control in Afghanistan. Ignatius also said that Petraeus is the most deft political figure he’s seen in uniform who always remembered that he worked for civilian leadership.

A win-win for Obama with Petraeus

Appointing Gen. Petraeus after McChrystal’s challenge to his leadership is a win-win for Obama, as it is reported by the Christian Science Monitor. Obama gets to have a top commander back within the field, and he also reasserts his role as civilian commander in chief. After insulting comments about the president and top administration officials made by Gen. McChrystal and his staff to a reporter from Rolling Stone, Obama quickly summoned the general from Afghanistan to Washington and he won’t be going back.

Gen. McChrystal’s apology no help

Gen. McChrystal apologized for the Rolling Stone article on Tuesday but didn’t say that he was at all misrepresented by it. CNN reports that a source close to McChrystal said that during the 30-minute meeting that happened between Obama and McChrystal on Tuesday, McChrystal briefly explained the Rolling Stone article that derailed his career, took responsibility and then offered his resignation. The president “had no intention of keeping him,” as outlined by this source. McChrystal’s personal belongings will be shipped from Afghanistan to his home.

New boss very same as old boss

Gen. Petraeus represents a change in style but not substance according to Michael Hastings, the freelance writer of the Rolling Stone article at the center of the controversy. On rollingstone.com June 23, Hastings explained to readers that when Obama exchanged McChrystal with Petraeus the president said it was a change in personnel, not policy, and policy has been the problem all along. Hastings said Obama picked Petraeus because he is a master at telling Americans what they want to hear. It could be Petraeus’ job to spin Afghanistan from a defeat into a face-saving draw after spending hundreds of billions of dollars and thousands of lives that won’t make us any safer from terrorists.

Find a lot more info on this topic

Washington Post

washingtonpost.com/wp-dyn/content/article/2010/06/23/AR2010062304005.html?hpid=opinionsbox1

Christian Science Monitor

csmonitor.com/USA/Politics/2010/0623/In-replacing-McChrystal-with-Gen.-David-Petraeus-Obama-reasserts-authority

CNN

edition.cnn.com/2010/POLITICS/06/23/general.mcchrystal.obama.apology/?hpt=T1&imw=Y&fbid=w2XX2duDWrt

Obama orders $ 600 million border security boost

As debate on the new Arizona immigration law SB 1070 rages on, the decision for immigration reform and additional border security is boiling over and can’t be pushed to the back burner. President Obama was forced to react to the sheer audacity of SB 1070; he’s asking that Congress approve a $ 600 million fund to hire more Border Patrol agents, watch with Predator drones and beef up overall border security as outlined by the Los Angeles Times. An unnamed senior White House official told the Times that Obama’s border security spending budget plan would contain 160 additional Immigration and Customs Enforcement agents, plus dog units.

{|Article Source: Obama calls for $ 600 million border security fund by Personal Money Store

Border security is vital to national defense, said Obama

President Obama’s message concerning the use of the $ 600 million in taxpayer funds was quite clear in his letter to House Speaker Nancy Pelosi. The request “responds to urgent and essential needs” and should be considered an emergency situation, he says. America’s border to the south is often stained by violence. Mexico’s drug war – which they are easily losing to the cartels – no doubt influenced the president’s $ 600 million move. It may be high time, as the drug cartels are already openly threatening U.S. authorities, says the New York Daily News. A portion of the $ 600 million will serve to assist Mexican authorities also, with the hope that it will prevent the drug war violence from fully entering America’s domain.

Mending fences, breaking inertia

In the words of Arizona Gov. Jan Brewer, her state is “the gateway to The United States for drug trafficking, extortion, kidnapping and crime”. And that’s one of the a lot more subtle cues Brewer has given concerning her outrage over the federal government’s relative inactivity over border security. Predator drones, top personnel and the kind of fences that actually do the job are what Arizona needs, attests Brewer. Enforcing Arizona immigration law SB 1070 will not create a “Papers, please!” military state, but will really have a optimistic effect on border security, as outlined by Brewer. Even a Mexican lawsuit against SB 1070 (as CNN reports) won’t stop the move toward tighter border security in America. Violence in border states, whether it be because of a drug war or illegal immigration and slave trade, will not co! ntinue in a country that takes border security seriously.

More data on this topic

Los Angeles Times

latimes.com/news/nationworld/nation/la-na-border-patrol-20100623,,4691128.story

New York Daily News

nydailynews.com/news/national/2010/06/22/2010-06-22_mexican_drug_cartel_threatens_to_harm_us_police_officers_who_bust_drug_shipments.html

CNN

ac360.blogs.cnn.com/2010/06/23/mexico-files-court-brief-against-arizona-immigration-law/

California hacker’s paradise – digital electronic license plate?

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, flashing ads if the car sits nevertheless for a lot more than four seconds. With no formal opposition ready to debate these plates, are you going to see them on the road next year?

Article Resource: 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 their permission they have to work with companies creating so-called “Smart Plates.” These digital electronic license plates are essentially small, pre-programmed screens. During normal operation of the car (read: driving along the road) the plate displays the license plate number to all who view it. Stop for a lot more than three or four seconds, though, and most of the screen will display something else. The idea is that these plates could be able to display advertising, a personalized message, or anything else that could be put into pixels.

Why the e-plate may be a good idea

The California Assembly is set on the DELP for spending budget reasons. The state wants any reason to bring in additional cash with the $ 19 billion budget hole. With more than 32 million registered automobiles within the state, these e-plates would give advertisers millions of new opportunities to pay the state for advertising. These e-plates would also give the chance for residents to pay a lot more money for ultra-personalization on their cars. In the end, budget wins.

The Digital license plate being a bad idea

Though the state budget of California could benefit from approving DLEP e-plates, it might eventually cost the state even a lot more money. First, these electronic license plates would change your license plate at the press of a button – certainly attractive to those who like to speed, red-light runners and criminals of all types who could hack their plates to make their numbers obstructed or invisible. Would it really be good to have every automobile be a billboard ad? What company wants to be the one known for causing crashes? Would you really like seeing much more ads while driving? You will find 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 about the idea?

Overturned by judge with oil business holdings was the drilling moratorium

A federal judge has overturned the Obama administration’s six-month deep water drilling moratorium within the Gulf of Mexico. The ruling issued Tuesday cited economic hardship as a result of the ban and explained that the government overreached by suspending all deep-water drilling operations planned in the gulf. Oil companies hailed the ruling. The Department of Justice said it would right away appeal the decision. During that very same time, as the oil spill within the Gulf of Mexico 2010 gushed for the 63rd day, about 106 million gallons of crude and counting have spilled into the sea.

Resource for this article: Drilling moratorium overturned by judge with oil business holdings

Possibility of drilling moratorium judge being invested in oil

The drilling moratorium was overturned by Judge Martin L.C. Feldman. ABC News reports that recent disclosure documents indicate that Feldman, who was appointed to the bench by Ronald Reagan, has had financial holdings in oil companies. Feldman said the Interior Department acted as if it were “arbitrarily and capriciously” when it issued a six-month moratorium on drilling new deep-water wells within the Gulf of Mexico and Pacific Ocean. Feldman given a preliminary injunction to Hornbeck Offshore Services to lift the drilling moratorium, saying that he believed the government “failed to cogently reflect the decision to issue a blanket, generic, indeed punitive, moratorium.”

Uncertainty involving deep water drilling in future

The moratorium was imposed to give a presidential panel time to come up with recommendations on how to keep away from a future oil spill disaster. The Los Angeles Times reports that it remains uncertain whether the Interior Department would have to begin issuing new permits to drill. With an appeal virtually certain to have come from the Obama administration, some analysts are doubting that oil companies would want to start a major deep-water drilling operation in the Gulf of Mexico with the possibility it may have to shut down if the appeal succeeds.

Oil companies spin drilling moratorium

The American Petroleum Institute praised today’s ruling, saying in a written statement, “The moratorium was an initial response to concerns about the safety of offshore oil and natural gas operations. However, an extended moratorium would have a tremendous impact on the nation’s energy security – and cause significant harm to the region of the country that was already suffering from the spill – without raising safety or improving industry procedures.”

BP oil spill containment failure

Meanwhile, it is reported by CNN that government estimates indicate as much as 60,000 barrels (2.5 million gallons) of oil may be flowing into the Gulf each day, and the gusher has already taken a significant toll on tourism and also the fishing industry in Gulf Coast states. BP said it had succeeded in collecting less than half of the estimated daily output: 25,830 barrels (1.08 million gallons) of oil over the past 24 hours on Tuesday. The amount is probably the most ever collected; the previous record was set June 18 when 25,290 barrels were collected. BP said it will donate net revenues it receives from the sale of oil recovered from the spill to help the National Fish and Wildlife Federation deal with the oil it won’t be collecting from the oil spill in the Gulf of Mexico 2010.

Additional details at these websites
ABC News

abcnews.go.com/Politics/gulf-oil-spill-disaster-judge-overrules-white-house/story?id=10983980&page=2

Los Angeles times

latimes.com/news/nationworld/nation/la-na-oil-spill-moratorium-20100623,,7804590.story

CNN

cnn.com/2010/US/06/22/gulf.oil.disaster/index.html?npt=NP1

The want to defer strategic default with consequences by Fannie Mae

Fannie Mae is upping the bet on strategic default of home mortgages Wednesday, saying that borrowers who default despite having ability to pay in good faith won’t be eligible for a new Fannie Mae-backed mortgage for seven years from the date of foreclosure. Along with home foreclosures, strategic defaults are increasing. To help in strategic default, there have been numerous online offers. The House actually passed the FHA Reform Act with a provision for penalizing strategic defaulters within the bill.

Source for this article: {Fannie Mae wants to defer strategic default with consequences

Strategic default and the consequences involved

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

Fannie Mae wants to sue strategic defaulters

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

Strategic default definition

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

Citations
Fannie Mae

fanniemae.com/newsreleases/2010/5071.jhtml

Washington Independent

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

3rd Way net neutrality proposed by FCC

Net neutrality is affordable internet access to all Americans. Some broadband providers have proposed to start charging more to their customers for higher levels of service, much like cell phone companies. The Federal Communications Commission started a huge uproar in the net neutrality debate that happened on Thursday when it announced that it will seek public comment on imposing new regulations on Internet service providers to keep them from offering tiered service. In the meantime, Capitol Hill tries to define FCC's authority better. But the FCC doesn’t want to have to wait for Congress to get around to it before it regains control of the net neutrality issue.

Source for this article: FCC proposes net neutrality 3rd Way

FCC net neutrality

Groups such as savetheinternet.com are in favor of net neutrality. Internet service providers and free market advocates are against it. Until last week the two proposed versions of net neutrality legislation would have prohibited: (1) the “tiering” of broadband through either sale of voice- or video-oriented Quality of Service packages; and (2) content- or service-sensitive blocking or censorship on the part of broadband carriers. A week ago, the FCC released what is called the “Third Way” plan.

Net neutrality and also the Third Way

Net neutrality under the 3rd way, as reported by the Washington Post, is this: Presently, broadband is defined as an info service, which means it doesn’t face much FCC oversight. The new plan is to shift broadband to the same classification as telephone service, which would trigger a whole lot more oversight by the agency. The FCC says it wouldn’t subject Internet service providers to the full brunt of regulation that would come with the new classification.

Comcast and their net neutrality case

The FCC’s Third Way is some kind of effort to regain control of the net neutrality issue in response to a Federal Court decision in April that overturned a 2008 FCC ruling in the Comcast net neutrality case. In 2007, Comcast was discovered to be severely delaying BitTorrent uploads on their network, claiming that downloading huge amounts of data was clogging the network. In August 2008, the FCC ruled that Comcast broke the law when it messed with the bandwidth accessible to certain customers for video files in order to make sure that other customers had adequate bandwidth.

Net neutrality challenge by Time Warner

In a 2009 test of the net neutrality issue, Time Warner Cable announced that its intention is to offer broadband packages in 10GB, 20GB, 40GB and 60GB increments. The plan has a charge of $1 per GB capped at $75. Time Warner launched the pricing system in various markets. The company announced later it would offer larger packages but the public still wasn't amused. Eventually they had to abandon the Time Warner net neutrality challenge.

The net neutrality Supporters

The FCC voted on Thursday afternoon to start the controversial process of reclassifying high-speed Internet access to give the agency authority over service providers that would prevent disparate treatment of customers. The Channel Web reports that a week ago, a group of 13 companies including Amazon, Google and Sony sent the FCC a letter in support of the 3rd Way saying that it will ensure that consumers have access to an open Internet, one that would preserve a level playing field for all participants. The net neutrality supporters said the Third Way does so without regulating the Internet but by making use of basic rules of the road to the transmission services that supply access to the Internet.

Being against net neutrality

Republicans in Congress are adamantly against net neutrality any which way. The LA Times reports that Republicans offer the familiar argument the Third Way is more government meddling in a free market that will stunt innovation and investment, echoing their Internet-service provider patrons. Texas Republican senator Kay Bailey Hutchison while speaking out against net neutrality explained that the agency has created “new burdensome regulations that threaten to stifle the growth of America’s broadband services.”

Net neutrality letter from Google

Google supported FCC's decision. ”As we have said before, broadband infrastructure is too significant to be left outside of any oversight,” the business explained on The Official Google Blog. Massachusetts Democratic senator Edward J. Markey loved the FCC’s move, calling it a “light-touch regulatory proposal” that would ensure “continued innovation, consumer protection and certainty in the broadband marketplace.”

Read more on this topic here

savetheinternet.com

savetheinternet.com/

Washington Post

voices.washingtonpost.com/posttech/2010/06/fcc_votes_to_seek_comment_on_i.html

Channel web

crn.com/networking/224701332

Los Angeles times

latimes.com/business/la-fi-0618-fcc-broadband-20100618,,5300272.story

Google blog

googleblog.blogspot.com/

South Carolina House turns down payday loans bill veto

Last week, Mark Sanford, the governor of South Carolina, exercised his veto power on H.3790, a pay day bill that would have made the standard repayment period 120 days instead of the common 14 without increasing the total fees charged by lenders. In addition, an approved H.3790 would have rid South Carolina of both quick unsecured loans and also the post-dated checks used for secured loans. However, S.C. Politics Today reports that the South Carolina House of Representatives has overridden Gov. Sanford’s veto. H.3790 would have also addressed inequity in South Carolina’s mortgage industry regarding licensing fees.

Article Resource: South Carolina House overturns veto of payday loan bill

Mark Sanford was against payday loan-strangling H.3790

In a letter to the state House, Governor Mark Sanford writes regarding his veto of the payday loans bill that

“Although this type of regulation is intended to protect the public, these kinds of laws ultimately decrease the number and type of available financing options and make it harder for new lenders to enter the market. In other words, consumers have fewer choices and the available options become more expensive. … Some people will benefit from payday–style loans and some will not, and we continue to believe that individual consumers are better equipped than a government bureaucracy to know whether a short-term loan is a wise decision in any given circumstance.”

We the people know what’s best for us

A paydayloans or comparable loans with no credit check – whether they’re unsecured personal loans or not – are usually more the domain of credit-strapped consumers, rather than state legislators who are paid considerably a lot more, so it follows the general public should be allowed to choose if the loans work for them. Governor Sanford clearly sees the matter in those terms, even if his state’s legislature doesn’t. At this moment, South Carolina allows payday loan borrowers up to $550 at a time, and only one loan can be active. Loan activity is tracked electronically.

More veto's to be flipped within the Palmetto State

One more stinging veto override delves into Gov. Sanford’s alleged history of impropriety with South Carolina tax dollars. The House nixed Gov. Sanford’s veto of a bill that would “allow info to be made public in a state ethics investigation of the governor when it indicates possible cause that a violation may have occurred,” reports S.C. Politics Today. The vote against Sanford’s veto of the governor investigation bill was a landslide, 102-2 in favor of overturning his veto. Sanford claims he just wanted the bill expanded to consist of all state lawmakers.

Find a lot more info on this topic

thestatecom.typepad.com/ygatoday/2010/06/house-overrides-sanford-on-payday-lending-ethics.html

docs.google.com/viewer?url=http://www.scgovernor.com/NR/rdonlyres/A0AB7D58-484C-49EC-9DD7-856ED2D5D7C3/35671/H3790MortgageLoanOriginator.pdf

Watch out for these potential auto mechanic scams

When you take your vehicle to an auto mechanic, you should have reasonable assurance that they are reputable and trustworthy. 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 that many mechanics use can help you avoid being scammed. Here are just a few things to look for, and none of them require much more than some basic automotive knowledge. Thanks to WalletPop for giving us some great ideas.

Source for this article: Watch out for these potential auto mechanic scams

Watch for the spit-and-polish auto mechanic scams

Most auto mechanic scams depend upon a customer’s lack of automotive knowledge, and this one is no exception. 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 like it is really brand new. Easily removed parts like batteries, oil filters and radiators are common targets. Some mechanics say they replaced your old part with a refurbished one. They have actually done nothing. If you can take the car home first before you are going to have any 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 new part with the info in the receipt. If you see the paint on the “new” part, you’ve spotted a scam.

There's manic maintenance

Follow all suggestions for standard maintenance. Check your owner’s manual. The manufacturers know your vehicle model better than anyone, so their recommended specs are going to help you a lot. If a mechanic tries to get you to agree to an oil change, flush or other repair sooner than you might actually need it, you’ll have reason for suspicion. You should bring the manual with you to the repair.

Don’t let them charge you 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. Demand a refund if they didn't fix it the first time. Try a different mechanic if problems persist.

Consider your dipstick

Check your dipstick before repairs. 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. Even if it is cheap, it is still something. Also, watch for the detached spark plug trick – it could save you from unnecessary engine exploratory work. While there, don't get new power steering. According to WalletPop, no auto manufacturer recommends this service.

With labor, doubled over

Sometimes, repair jobs will start with one thing, and then lead to another. Sometimes mechanics double the labor charge. The labor cost you were quoted is what you should pay. However, if the new job is something big, the mechanic still has to make money for his or her time. Communicate with your mechanics and make sure they tell you 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/

Related Video:

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

NYSE delists Freddie Mac and Fannie Mae stocks making losses grow

Freddie Mac and Fannie Mae, the key sources of funding which have kept lending to home buyers from completely drying up, were ordered by the government to cease trading their shares on the New York Stock Exchange to adhere to NYSE delisting rules. Freddie Mac and Fannie Mae stocks, which have already lost nearly all their value in the housing crisis, fell further when the markets got the news. After the delisting, which was ordered for neglecting to meet NYSE needs for maintaining price levels, the stocks of these two companies could be traded within the over-the-counter market.

Article Resource: Freddie Mac and Fannie Mae stocks delisted from NYSE, losses grow

NYSE delisting rules

Freddie Mac and Fannie Mae were delisted because NYSE delisting rules require that a business pull its stock if it can’t do anything to keep shares from dropping below the $ 1 average price level for 30 trading days. The Associated Press reports that after the NYSE delisting announcement Fannie Mae shares dropped 42 cents, or 46 percent to 50 cents, when Freddie Mac slid 55 cents, or 45 percent, to 67 cents. Within the year of 2007, both companies shares traded at a lot more than $ 60. As the housing crisis deepened, the stocks lost almost all of their value as they went below $ 1 by September 2008. The government took over Fannie and Freddie.

Losses for Freddie Mac and Fannie Mae

The companies guarantee 31 million home loans worth $ 5.5 trillion. That's half the mortgages in the US. CNNMoney.com reports that given that September 2008 the Treasury Department has poured $ 83.6 billion into Fannie Mae and $ 61.3 billion into Freddie Mac to cover losses on the mortgage-backed securities they own or guarantee. During the housing crisis, the money has kept lending to home buyers alive, kept home sales and new home construction from falling further than it has, and kept homes from losing a lot more value than they have. But Freddie Mac/Fannie Mae losses totaled $ 93.6 billion in 2009 and another $ 18.2 billion within the first quarter this year. The Congressional Budget Office estimates that nearly $ 400 billion in tax dollars could be needed at some time to cover Freddie Mac/Fannie Mae losses, making it the most expensive of all the government bailouts.

Delisted Fannie Mae and Freddie Mac stock by July 8

Freddie Mac and Fannie Mae will delist from the New York Stock Exchange on or about July 8. The Wall Street Journal reports the NYSE delisting meets the goals of government conservatorship. By delisting, Fannie and Freddie should both conserve $ 500,000 a year. Both companies ended up paying the maximum amount.

Fanny Mae/Freddie Mac OTC stock

Fannie and Freddie stock could be traded over the counter after July 8. Brokers and dealers will negotiate directly with one one more for Fannie and Freddie stock over computer networks and by phone. OTC stocks are generally very risky because they’re the stocks that are not considered large enough or stable enough to trade on the New York Stock Exchange. It is hard to discover research on these stocks. With the delisting, David Lutz, managing director of equity trading at Stifel Nicolaus and Co. in Baltimore, explained to Business Week that "We lose some transparency into what is basically a large black hole that is eating up a large part of our bailout funds."

Citations

Associated Press

google.com/hostednews/ap/article/ALeqM5gKpMFnJoJc8QkAW3abF41E4d492QD9GCEEC00

CNN Money.com

money.cnn.com/2010/06/16/news/fannie_freddie_delisting/

Wall Street Journal

online.wsj.com/article/SB10001424052748704198004575310443796994402.html?mod=rss_Today’s_Most_Popular

businessweek.com

businessweek.com/news/2010-06-16/fannie-freddie-plunge-after-moving-to-delist-shares-update2-.html

Some tips for creating your own car sharing group

Car sharing is one of probably the most popular new schemes to help urbanites cut down on their driving. For various reasons, people choose to be in car sharing groups. Sadly car sharing isn't available in all cities. A good choice may be making your own car sharing but keep a few things in mind.

Article Source: 3 tips for creating your own car-sharing group By Personal Money Store

1- Who’ll be the owner of the vehicle?

The first thing that needs to be decided is who will ultimately be responsible for the automobile. Unless you start some kind of company out of it, someone needs to be in charge. At least a basic contract should be drawn up and signed by all individuals sharing the automobile.

2 – Insurance

As a part of the car-sharing group, the head person should make certain that the insurance will cover the car, no matter who is driving it. If the car will be shared more than 30 to 40 percent of the driving time, you will need to check with the laws of your state. You may not end up ever getting your money if there is an accident and also you haven't told your insurance business the car is regularly used by others. The other option is to ask all members of the car-sharing network to get their own “non-owner policy” or “broad form” policy – both of which cover the driver and not necessarily the car.

3 – Costs of the car-sharing

Figuring out the costs of car-sharing is one of the most difficult things for a car-sharing group. Monthly payments will be separate from the operating costs. You are able to have a monthly fee added as the monthly payment split. The operating costs of the vehicle are the other consideration. You can add all the fuel, insurance, and maintenance fees together. Divide that total by either the number of people sharing the car – or by the number of miles you are expecting to drive the car. To cover all operating costs, set a "per mile" rate for the car. The U.S. federal government sets the per-mile cost of vehicle use at 50 cents per mile. The price will probably be someplace between 50 cents and $1 per mile.

Officially sharing the costs of a car may take a bit of time and arithmetic to determine, but it can be worth it. Until ZipCar, Hertz Go, or some other car-sharing network makes it to your city, it could be a great way to cut back your cost and reduce your environmental impact.

Arlington National Cemetery can't keep bodies sorted

Running a cemetery is a pretty difficult business, 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 some mix-ups involving mislabeled graves and at least one service member’s body being buried on top of an additional, the Pentagon told MSNBC. In addition, Higginbotham is being investigated for very maybe hacking computer files of a previous Arlington National Cemetery employee.

Article Resource: Arlington National Cemetery can’t keep bodies sorted By Personal Money Store

Arlington National Cemetery with no body database?

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

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

’Does anyone run a perfect organization?’ Metzler asked

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 more than 18 years of service in the military, would make at least $3,454 per month according to the standard military pay table. A lot more than likely, he makes at least $2,000 to $3,000 more per month, although this is speculation.

Was John C. Metzler Jr. earning his pay?

Whichever the case, from John McHugh’s point of view, Metzler had definitely not earned his salary, in light of the surprising events. Not only that, but John Metzler saying that “nobody’s perfect” and telling the media that some of the issues occurred way before he actually began his job 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 there less room within the Arlington National Cemetery?

Does this seem to be because of sorting and possibly burial anomalies? In its 200 acres, Arlington National has a lot 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. 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 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 issues they may have and continue to ser! ve The United States within the honorable fashion it has since its official designation on June 15, 1864, by Secretary of War Edwin Stanton.

Additional information at these websites

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

Tasty food taken to the street – Taste of Charlotte

The Taste of Charlotte food festival starts off this weekend in Charlotte, North Carolina. Streets are shut down and dozens of restaurants participate. The Taste of Charlotte festival might set you back a penny or two, but will even assist one of the most popular festivals in Charlotte.

Resource for this article: Taste of Charlotte – Tasty food taken to the street By Personal Money Store

Highlights in Taste of Charlotte

In uptown Charlotte, the festival will span five city blocks. The festival will start 11 a.m. on Friday, June 11 and will finish at 6 p.m. on Sunday, June 13. There will be dozens of National Tours, entertainment acts, and a lot more than 30 food vendors. No admission is charged, so the Taste of Charlotte is an excellent place to spend your weekend.

Just how much the Taste of Charlotte will cost you

Just because you are going to have free entrance doesn't mean you won't be spending. It will cost money for parking and transportation. There is also the cost of food and drinks. The vendors don't take any cash money. You’ll need to purchase special coins with the Taste of Charlotte booths or site. Any of the venders will cost between 1 and 6 coins to get food from. Everything is sample sized, and food is generally 2 to 3 coins and drinks are 3 to 6. You’ll probably end up spending $20 to get a full meal of any kind.

Taste of Charlotte for all of the providers

The vendors that are at the Taste of Charlotte won’t be getting the entire $1.33 for every token you hand over to them. Instead, the Taste of Charlotte organization takes a percentage of the cost of the coins to pay for any and all of the organizational and administrative costs. Going to the Taste of Charlotte may seem expensive, but might really be a less expensive way to look into new restaurants if you spend $6 to get a tasting sample of their wares, instead of $30 to try out a dinner at their regular location.

Google background image removal placates angry users

Google has started a new program where users can add a background to their search page in addition to their iGoogle. This morning, the Google background image seems to have gone compulsory. This move has left many users asking how to remove the Google background. Removing the image, though, was not initially as simple as Google tools typically are. There are alternatives that still allow you to use Google without the background image, though.

Resource for this article: Google background image – Numerous wanted to remove the Google background By Personal Money Store

The Google background image business announcement

This morning, the Google blog officially announced the Google background image option. Google claims the background image will not slow load times at all. This new feature was highlighted with the image on the Google homepage, which has since been removed.

Removing the Google background image

Not all users are happy about this change, and the way to remove the Google background image is the biggest question of the day on the Google forums. Google's instructions didn't fully explain the move, though. Google claims the “remove background image” link within the bottom left hand corner will return things to normal. By clicking that button, though, you are only removing the custom-set option that you'd chosen. If you’re not logged in and haven't changed your image, it just said "change background image.” Until Google flipped the switch, there was no way to remove the default background image.

Using an choice Google

The Google background image could possibly be removed from the homepage only by Google. Google users, nevertheless, have come up with several workarounds to remove the Google background image. Two Google pages that did not have the background image – google.com/firefox and https://www.google.com both saw spikes in traffic today. The majority of Google searches that create traffic worth the $ 484 stock price aren’t done from the home page, though – they are done from toolbars.

Cut your grocery budget down to size – Finding a less expensive protein

$586 to $1,159 is the average grocery bill for a family of four in the US. For most American families, meats make up forty percent or a lot more of that food budget. With food costs expected to rise easily in the next five years, cutting your grocery budget is one step numerous families are investigating. Eating cheaper, however, should not mean eating less healthily.

Article Resource: Finding a cheaper protein – Cut your grocery budget down to size By Personal Money Store

The math behind an affordable diet

You don't have to put more work into a cheap healthy diet. Although $1 burgers from a restaurant may seem cheap, they are costly. A family of four will eat about 360 meals every month. A liberal food budget of $1,159 means each meal should be no more than $3.22. Eating less meat is an easy way to cut down how much you may spend.

Being a 'weekday vegetarian'

Going entirely vegetarian, while is cheaper in numerous ways, is simply not a move everybody wants to make. If you cut meat out of your diet, it can conserve you around $200 a month. You can also try making meat a much smaller portion of your entire meal – the USDA recommended serving size for meat is just three ounces, not the five to eight that most Americans eat. Your pocketbook will thank you if you eat just a little less meat.

What should you eat?

If you are not eating meat, that doesn’t mean that your vegetables should replace anything in your diet (though more vegetables never hurt any person). Protein is very important in helping you feel full after a meal though. Replacing your meat, then, with some other protein is very important. Replace your expensive meat with:

• Rice and beans – 20 cents per serving
• Hummus – about 30 cents per serving
• 45 cents per serving – lentils with a nut sauce
• Oatmeal with milk – about 25 cents per serving

The basic idea is to blend legumes, grains and nuts or seeds together during the day. Alone, each of those three groups does not make a complete protein. Together, though, any of the two of them do.

Personal installment loans online for easier debt consolidation

Cash for anything you need is accessible through a personal installment loan. The best place to get personal cash loan is online, where you will discover the best terms and most choices. Personal loans could be used for all types of financial needs. If you can arrange a lower monthly payment than you make on credit card debt, personal installment loans could be a useful approach for debt consolidation or relief. Collateral is required from a lender when you’re apply for secured personel loans.

Resource for this article: Practical debt consolidation – personal installment loans online By Personal Money Store

Loans for individuals with a bad credit score

Virtually anybody; poor credit, short credit history or no credit record yet- can discover personnel loans accessible online. In all these cases, you are able to qualify for a personal loan. The rate of interest will be higher and the term shorter, but once you get a personnel loans and always make the payments on time, you’ll boost your credit rating and future loans could be easier to get, with better rates and terms.

emergency money

Personal loans online, in contrast to auto loan for bad credit or mortgage loans, could be used at the borrower’s discretion. You name it: vacations, car repair, medical bills, remodeling—a personel loans can take care of any financial need. The maximum loan amount for an unsecured personal loans online depends on the lender's personal loan guidelines. The best part about getting an unsecured personal loan online is the entire approved amount appears with your banking account not in months, weeks or days, but right away.

Relieving debt online with loan consolidation

Debt consolidation and debt relief are some of the most practical reasons to get a personal cash loan online. Using these loans to consolidate debt into one payment instead of many is common. Reducing monthly expenditures is the overall goal of debt consolidation. Before getting the online personal cash loan, make sure the monthly payment is less than the total of the payments you were making on all the other debts.

easy credit repair online

Utilizing an online loans for debt consolidation that leads to credit repair can really pay off.Making minimum payments forever on credit card debt can finally end with a regular monthly payment. But only borrow as much as you need, and try to manage the shortest term possible. Longer loan terms make for more expensive loans. You have to be disciplined enough not to create more debt. Never apply for a personal loan online for debt consolidation until you make an honest commitment with yourself to stop spending more than you earn.

Discover more details on this topic

articles.moneycentral.msn.com

www.ehow.com

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

Re-refined oil basics

We all know that we are supposed to change the oil in our cars on a regular basis, but other than natural or synthetic, most people do not usually think much about what oil goes in or comes out. Re-refined or re-processed oil is engine lubricant that is what it sounds like — used oil that has been re-refined for reuse. How is re-refined oil made and is it safe?

Article Source: The basics of re-refined oil

The exact process of re-refining oil

Oil from petroleum doesn't wear out. Instead, as it circulates through an engine, it gets dirty. The additives that are in the oil do wear out, but the oil itself doesn’t. Used motor oil is re-refined the exact same way as crude oil. The oil is cleaned, refined and then is re-blended with additives to create a product that is comparable to lubricants created with crude oil.

Your re-manufactured oil needs to be approved

You should take precautions before using it although it is safe. Make sure the re-refined oil being used is American Petroleum Institute approved. Typically API approved oil will be required. API approved oil has also undergone stringent testing needs that make certain it does what it is intended to. Whether re-refined or not, you’ll need oil that is API approved. If you use a quick-lube service, check with them that they are using API approved oil, re-refined or not.

Benefits of re-refined oils

Your engine could be lubricated by re-refined motor oil. Used motor oil is considered a toxic waste, and is typically disposed of in a variety of ways. Re-refining oil helps create a closed-loop system, where the nonrenewable resource of oil is consistently re-used. A gallon of used motor oil creates 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 about 8 million vehicles every single year.

When Bush tax cuts expire in 2010, Arthur Laffer predicts collapse

Arthur Laffer is making news by predicting that the U.S. economy will collapse next year following the George W. Bush tax cuts expire in 2010. His theory on the Obama tax plan is based on how the super-rich can choose when and just how they collect their income to evade having to pay their taxes. Laffer believes the economy is doing better this year than it should 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 less money, thus reducing the government's tax revenue anyway.

Article Resource: Arthur Laffer predicts collapse when Bush tax cuts expire in 2010

Bush tax cuts expire 2010

Arthur Laffer became famous when he influenced the Reagan administration to cut taxes. His Laffer Curve concerning taxes seems in numerous economic textbooks. Laffer said in his Wall Street Journal column that Reagan tax cuts brought the economy out of what was once the worst U.S. recession since the Depression — until the Mt. Everest recession we’re nevertheless 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 reaching 7.5 percent in 1983 and 5.5 percent in 1984. He doesn’t mention how Bush tax cuts in 2001 and 2003 within the face of two wars eventually ran the U.S. economy into the ground and destroyed a spending budget surplus he inherited from Bill Clinton.

The Arthur Laffer curveball

The Laffer Curve tax cut argument misleads his readers, as outlined by Asha Bangalore at Northern Trust. 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 after 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 better than record 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 also. 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 says it is worth noting the 1983 cuts Laffer remembers so fondly lowered top rates from 69.13 percent to 50 percent. Top marginal tax rates 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 within the ’90s when the economy boomed and the government collected much a lot more taxes than it had spent.

Arther Laffer says he feels your pain

Arther Laffer, the chairman of an investment consulting firm and therefore is extremely 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. To survive, most want to keep their head up. But when Arthur Laffer’s personal income tax rate goes up 5 percent, the millions he won’t pocket will seem like the end of the world indeed.

Additional details at these websites

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

Preparing your tires for seasonal driving

When you are preparing your car for driving within the summer, you will find a wide range of systems you should have a look at. One that is often overlooked, though, is tire pressure. The tires on your vehicle are where the rubber meets the road, so they are worth spending a little bit of time on. Checking out your tires can be simple – just remember a couple of very significant things.

Article Resource: Getting ready for seasonal driving – Tire pressure By Car Deal Expert

Checking your tire pressure

Checking your tire pressure could be relatively easy. Even if your car does have a built-in tire pressure sensor, you need to check your pressure on a regular basis. Most built-in tire pressure sensors measure pressure by measuring the rotation of the tires. Instead, use a stick, dial or digital tire pressure gauge to check the pressure on all five tires, including your spare. You should have a look at the tire pressure when the tires are nevertheless cold.

Ensuring your tire is properly inflated

The driving conditions you are in can effect the proper tire pressure. There is a tire pressure printed on the sidewall, but that is the maximum tire pressure, not recommended. Temperature and driving conditions can change the pressure of your tires up or down by 10 pounds per square inch. The recommended tire pressure for your car is typically printed within the owner's manual or side panel. A tire that is inflated to the maximum pressure when it is cold could expand and explode when the temperature goes up.

The balancing act of fuel efficiency and traction

The inflation of your tire has two separate effects on the operation of your automobile. A low-pressure tire can get you a lot more traction, which is useful within the winter or on slippery roads. If your tire is properly inflated, though, you’ll get better gas mileage. Unless you live in an area where roads are very slippery in winter conditions, you need to keep your tires inflated to the recommended level.

Amendment for instant money debit card hits consumers in their wallet

Dana Perino, previous White House Press Secretary and current Fox News commentator, warns consumers that there’s trouble brewing in Congress. This might make using a debit card more expensive. To be clear, it will really affect almost all consumer purchases and debit card interchange fees will be the cause, claims Perino.

Article Resource: Small cash loans debit card amendment hits consumers in the wallet By Personal Money Store

Debit card fees might mean emergency money for banks

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

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

Financial reform advanced by Dick Durbin's amendment

Dana Perino paints the picture for consumers on the retail end also. Imagine what retailers will do if debit card transactions cost them more. Of course they’ll pass the cost on to customers. Most retailers already do this. In addition, no-fee checking would die, along with various rewards programs as banks look to make up for income lost after the Durbin amendment.

Price controls don't seem to work

Price controls haven't worked in the past. The blog Wizbang uses the example of gas prices in Hawaii. Another example is Australian legislation from 2003. Retailers began charging more for plastic then. What Perino is wondering is how something like the Dick Durbin amendment can sneak in without much attention, and will these consumers have to depend upon fast cash short term loans with no credit check more often.

Citations

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

The Loan Quality Initiative can make second credit report derail closings

The Loan Quality Initiative is a mortgage loan quality control measure that was enacted June 1 to cut down on Fannie Mae foreclosures. In most cases the Fannie Mae Loan Quality Initiative requires lenders to pull a borrower’s credit report a second time at closing. If the borrower has applied for credit given that the mortgage loan was approved, then the resulting change could squash the deal.

Resource for this article: Loan Quality Initiative – second credit report can derail closings By Personal Money Store

The initiative for the Fannie Mae Loan Quality

Fannie Mae’s Loan Quality Initiative means that all lenders can be checking up on mortgage borrowers until the day they close. People who extend their credit to buy a new washer-dryer or furniture for their new home might be in for a rude surprise.

Lou Barnes, a mortgage banker in Boulder, Colo., told smartmoney.com that the initiative will probably "blow up an unknown number of closings because of mistaken or ambiguous findings in new credit reports."

Debt-to-income ratio is the key

It was reported by Smartmoney.com that applying for credit of any type between the date of the loan approval and closing could snag the deal. The new lines of credit might very well affect the borrower’s debt-to-income ratio — the percentage of monthly gross income used to pay monthly debts is a primary tool lenders use to determine loan eligibility. Additional debt could push the borrower over Fannie Mae’s debt-to-income ratio threshold of 45 percent.

Mortgage loan quality being controlled

Boston.com reports that many lenders already pull second credit reports right before the closing, but the Fannie Mae Loan Quality Initiative makes this mandatory for all mortgage lenders who sell their loans to Fannie Mae. New loan quality control actions require all of the lenders not only to pull two credit reports for each mortgage transaction but to also perform additional verifications of a borrower’s plans for the property, plus Social Security numbers and Individual Taxpayer Identification Numbers, among other changes. These last minute credit checks could result in a closing delay, pricing adjustment or, at the very, very worst, loan approval cancellation.

How a second credit report hurts

The Loan Quality Initiative gives lenders the freedom to verify nevertheless they choose. But a mortgage blogger reports that most will pull another credit report just prior to closing. Three things will be looked for by underwriters:

1. The credit report will show credit card bills. Those numbers will be replacing all of the original numbers. If the debts exceed Fannie Mae’s threshold, the loan will be denied.
2. Updated the credit score. If the FICO has dropped below minimum lending standards, the loan will be denied, or be subject to a new loan-level pricing adjustment. Loan level pricing adjustments are mandatory loan fee that are depending on the credit score.
3. The credit report's Credit Inquiry section. They want to make sure no credit is being borrowed anywhere else. This data can be used by underwriters however they want.

Fannie Mae foreclosures overwhelming

The Loan Quality Initiative is a huge try by Fannie Mae to stem the tide of foreclosures overwhelming the nation’s largest mortgage buyer. Fannie Mae reported an $11.5 billion loss within the first quarter of 2010. The US treasury was asked by Fannie Mae to give them $8.4 billion to stay afloat. Fannie Mae and its sibling Freddie Mac own or guarantee a lot more than 50 percent of mortgages within the United States. Mortgage foreclosure statistics reached an all-time high in the first quarter of 2010. The combined share of foreclosures and also the mortgage delinquencies was 14 percent, or about one in each and every seven U.S. mortgages. Mortgage foreclosure statistics are expected to peak this year with borrowers losing their homes each and every day.

Additional data at these websites

Smartmoney.com
smartmoney.com/Personal-Finance/Real-Estate/borrowers-beware-the-second-credit-report/
Boston.com
boston.com/realestate/news/blogs/renow/2010/05/fannie_maes_loa.html
Bob Phillips
southorangecounty.wordpress.com/2010/06/08/fannie-mae-loan-quality-initiative/

Helen Thomas retiring after making numerous proportions

Helen Thomas is an institution of the White House press corps, and after covering every president given that John F. Kennedy, she has announced her resignation from Hearst and her subsequent retirement. It seemed as if she would be covering the White House until she died, but a recent and very serious slip of the tongue has forced her to resign. She is known as one of the toughest reporters to question the president or White House official, and she was known for often asking brutally direct questions.

Article Resource: Helen Thomas retiring after making error of epic proportions

Giant of journalism is Helen Thomas

Helen Thomas began her career in journalism in 1942, after graduating from then Wayne University which is now known as Wayne State University, with a B.A. in Journalism. She worked briefly for the Washington Daily News (it doesn’t exist anymore) and started working for United Press International in 1943. She covered women’s issues and Washington D.C. news, interviewing celebrities and politicians and covering various government agencies. She was later assigned to cover John F. Kennedy as a White House Press Correspondent for U.P.I., switching to Hearst Newspapers in 2000. She is the only person with her own seat in the White House Press Room.

One slip of the tongue kills career

Recently, Helen Thomas made various different comments concerning the state of Israel and its treatment of the Palestinians. In a camcorder interview by rabbilive.com, oddly enough at a Jewish Heritage event put on by the White House, she was asked if she had anything to say about Israel. She said “Tell them to get the hell out of Palestine.” She further went on to say, as outlined by CNN, that Israelis should return to their countries of origin. (Most Israeli Jews are Ashkenazi, which means they come from Europe, which is what she was referring to.)

The hard fallout

Once her comments hit the internet, especially on YouTube, there were immediate calls for her to be fired. The White House condemned her comments, and Craig Crawford, said he wouldn’t work with her ever again. Helen Thomas then said she would resign. It’s an unfortunate end to a storied career.

Discover a lot more details on this topic

CNN
cnn.com/2010/POLITICS/06/07/pol.helen.thomas/

Krispy Kreme, Dunkin Donuts celebrate free doughnut day

You will find free doughnuts accessible on June 4, 2010 at some Krispy Kreme and Dunkin Donuts locations, thanks to National Doughnut Day. These offers are "in participating locations" and "while supplies last" so make sure to check with your Krispy Kreme location before you try and claim a free doughnut.

Article Resource: Krispy Kreme, Dunkin Donuts celebrate free doughnut day

Krispy Kreme stores to get free doughnuts

Claiming your doughnut at Krispy Kreme locations is quite easy. There is a list of Krispy Kreme locations participating in the Free Doughnut Day on their website. Once you have found a participating store, stop in once they open on June 4. Claim your free doughnut. Make sure to let the doughnut shop employees know that you appreciate their hard work. At Krispy Kreme, the offer is only good while supplies last, so you will want to make sure to stop in on your way to work, not on the way home.

Free doughnut day Dunkin Donuts locations

It is slightly more difficult to get a free doughnut at Dunkin Donuts. You only get a free doughnut at Dunkin Donuts locations if you purchase a drink. So stop to the nearest Dunkin Donuts , purchase an iced coffee or other drink, and claim your free doughnut. Just like anything else, thank your Dunkin Donuts shop employees – it is going to be a very long day at work for them.

Celebrate your own National Doughnut Day

Everybody knows that doughnuts aren’t exactly the healthiest of treats. Don't worry about going to Krispy Kreme locations or Dunkin Donuts locations. Try making your own instead. Start by creating a basic sweet dough, then just fry it and top as you wish. Try out this recipe to start with:

• 1 egg
• 1/4 cup sugar
• 1/4 cup sugar replacement like agave nectar
• 1/2 cup milk or liquid
• 2 Tablespoons oil
• 2 cups sifted flour
• two teaspoons baking powder, for rise
• Melted butter or frosting or sugar for topping

Mix wet ingredients together, then add dry ingredients. Put the dough in the fridge or freezer until it is cold enough to work with, then cut it out into the shapes you would like, about 1/2 an inch thick. While you are chilling the dough, heat vegetable oil in a pan until it is 375 degrees – then fry your shapes until they're toasty on both sides. Drain the fried doughnuts, then sprinkle, glaze, or frost with your preferred topping.

Nitrogen inflation improves car handling

Instead of using standard air to inflate your tires, consider nitrogen inflation – it’s become increasingly popular with consumers. The website Why Nitrogen? suggests that using nitrogen inflation will enhance a vehicle’s handling capabilities, improve fuel efficiency, extend the life of a set of tires and reduce the carbon footprint. Nitrogen inflation is scientifically sound, a fact that is borne out by the findings of notable studies conducted by such well-known sources as Consumer Reports.

Resource for this article: Nitrogen inflation – Adding life to your tires

Nitrogen inflation is bigger than oxygen

In addition to being dry and non-flammable, nitrogen gas is said to escape from a tire as many as four times more slowly than oxygen. As outlined by Why Nitrogen?, this phenomenon occurs because nitrogen molecules are rather large. Tires that stay inflated at the proper level for longer periods of time stay in better contact with the highway. Thus, traction is maintained and the engine doesn’t have to crank out quite as numerous RPMs to maintain the desired speed. Happy engines mean better fuel efficiency and a smiley face for the environment. Maintaining that proper inflation via nitrogen inflation keeps the tread on the road rather than the sidewall, which saves both tire and rim.

How pure do you need your nitrogen?

Ideas about just how high the nitrogen purity level must be for effective nitrogen inflation are somewhat variable. If you are somewhere between 93 and 98 percent pure on your tires’ nitrogen gas concentration, it should work. That works for NASCAR, so it should be sufficient for consumers who need automobile financing to pay for their minivans.

NASCAR favors predictable nitrogen inflation

Imagine what a sudden loss of tire pressure can do to a car in a NASCAR race. Not only does it require a quick pit stop that can cause a car to fall behind in a race, underinflated tires can cause serious accidents on the track. This is why NASCAR has adopted the use of nitrogen inflation. Why Nitrogen? reminds us that nitrogen inflation resists temperature change better than oxygen. Proper tire inflation is easier to maintain during a grueling race. This is why the airlines and the government like nitrogen inflation, also.

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Why Nitrogen?

getnitrogen.org/why/index.php

Ken Griffey Jr retires from Mariners, baseball

Moments before the June 2, 2010, game against the Minnesota Twins, the Seattle Mariners announced the retirement of Ken Griffey Jr. Many were surprised by the announcement. It seems he had been wrestling with the decision after starting off a disappointing 2010 season, and it appears he is heading off into the sunset instead of become a token of nostalgia. Griffey's achievements are substantial to say the least. As the fifth all time home run hitter, he is in rarefied air as a player.

Article Source: Ken Griffey Jr retires from Mariners, baseball

Ken Griffey Jr retires after 21 years

Ken Griffey Jr's retirement ends a legendary career among sportsmen of the Pacific Northwest. It is about as easy to separate Ken Griffey Jr and also the Seattle Mariners as it is to separate Joe Namath and the Jets. He made his professional debut in 1989, and he and his father are the only father and son to have played on the exact same team. He proved worth the investment of cash till payday, as he was a prolific player on both sides of the ball. The first ten years he was Seattle, he won the Golden Glove award from the American League 10 times over and hit nearly 400 home runs.

The Emerald City and the Kid part ways

In 1999, Griffey wanted to move closer to his family, which has long been his greatest priority. He was traded to the Cincinnati Reds, the team his father played on and won two World Series with. Though his time in Cincinnati was productive, he was plagued by injuries. The White Sox acquired Griffey mid way through the 2008 season. He became a free agent at the end of that year, and massive amounts of rumor began about his potential return to Seattle.

The prodigal son returns

Returning in 2009, he hit 19 home runs within the 2009 season. By May of 2010, he had seen little time at the plate and no home runs. He was listed on the reserve for the game against the Twins, as outlined by the Seattle Times. A quick pre-game press conference was called at Safeco Field, and that was it. He had said that his retirement would be swift and that he would "never allow myself to become a distraction." Griffey knew it was time to call the game.

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Seattle Times

seattletimes.nwsource.com/html/mariners/2012015906_griffey03.html