Archive for February 25th, 2008

Iowa Gov. wants more renewable energy
CNBC - He and legislators already have agreed on a $100 million fund that will finance substitute energy projects in the say. Culver said the package he’ll send to lawmakers is a major effort to shape Iowa’s energy policy.

Liberal Advocacy Groups Take Aim at McCain
Washington Post - The DNC filed a formal complaint yesterday with the Federal Election Commission , demanding an investigation of whether McCain violated campaign finance laws he helped write when he asked to opt out of the public financing system.

R.G. Barry Corporation to Move to NASDAQ Global Market
PR Newswire - Barry Corporation Senior Vice President Finance and Chief Financial Officer added, “We are very excited about this change. We believe that NASDAQ will provide the Company with enhanced exposure and liquidity, and the electronic market model will

Kevin Harvick & RoadLoans Show Their Support of the Troops Through
PR Newswire - RoadLoans, based in North Richland Hills, Texas, is a leading direct-to-consumer auto finance company that simplifies the financing of a new or used car through its on the web application process.

Atlas Pipeline Partners, L.P. Reports Record Fourth Quarter and Full
Earthtimes - with the Partnership’s $830.0 million term loan, which was funded in July 2007 and partially financed its acquisition of the Chaney Dell and Midkiff/Benedum systems, additional borrowings under the Partnership’s credit facility to finance

This day On The Presidential Campaign Trail
CBS News - WASHINGTON (AP) _ The Democratic Celebration filed a complaint against John McCain on Monday, calling on campaign finance regulators to investigate the Republican presidential candidate’s decision to withdraw from the primary election’s public financing

Marac owner brings in improved result
New Zealand Herald - Pyne Gould Corp, owner of finance company Marac, this day reported its December half year net profit rose 23 per cent to $22.1 million. The company stated Marac was profiting from troubled times in the finance company industry that has seen 14 companies

Most targets settle in Crocus suit
Globe and Mail - The Manitoba government has repeatedly denied any responsibility for the fund’s collapse, but Finance Minister Greg Selinger said Monday a settlement with no admission of wrongdoing was the cheapest legal option.

Hinn Turns Over Material to Senate Panel
Associated Press - Flamboyant Texas-based faith healer Benny Hinn had turned over material to the Senate Finance Committee in response to a letter of inquiry from Iowa Sen.

Yen, Taiwan Dollar, Peso, Baht: Asia Local Currency Preview
Bloomberg - Japanese yen: Finance Minister Fukushiro Nukaga, Economic and Fiscal Policy Minister Hiroko Ota and Chief Cabinet Secretary Nobutaka Machimura will hold press conferences after a cabinet meeting this morning. Machimura will hold a second briefing at

More debate over county sales tax
WLS - In more debate on the Cook County budget Monday, the finance committee has withdrawn a proposal to increase the county sales tax to 2.75 percent. But a new plan was introduced calling on a smaller increase. The new proposal on the table is for a 1.25

Judge awards $33 million to family of victim in 1992 terrorist bombing
CNBC - Hezbollah accepted responsibility for the bombing and the U.S. has held Iran responsible for helping finance and organizing the group’s activities.

Associated British Foods looks tasty in tough times
Times On the web - As far as John Bason, the AB Foods finance director, is concerned, the company remains a growth story, not least at Primark, which this year will become the group’s biggest money-earner by overtaking its sugar empire.

MBIA Issues Letter to Owners
MSN MoneyCentral - That is why, as soon as it’s feasible but within a five-year period, we’ll restructure the company in such a way as to insure public and structured finance business from separate operating entities.

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Open Source pulse check

Twitter doesn’t have a grouping feature yet (even though they said 7 months ago it was “at the top of their list”) but that hasn’t stopped a group of open source aficionados from finding a way to form one anyway. Five Twitterers including SourceForge’s Ross Turk and open source analyst extraordinaire Raven Zachary launched The Pulse of Open Source this day, calling it a “collective stream of consciousness from the open source community.” We just call it “cool.”

All you need to do is bookmark and visit the site, or add it to your feed reader. As people the site follows update their Twitter feeds during the day, their tweets appear on the site or in your reader. The site follows a wide assortment of open source community members ranging from CEOs of companies like MindTouch, to community managers of projects like OpenSUSE and Hyperic.

The tweets don’t always focus on open source, but we like that because otherwise the site wouldn’t be as much fun. How else would we know how Zachary got those cool glasses?

Read

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This week’s Barron’s reports that private equity funds are still raising plenty of money. The third quarter of 2007 saw a record level of money flowing into private equity funds, over $66 billion. The fourth quarter wasn’t far behind at $51 billion , suggesting that investor interest in private equity funds remains strong.

The massive change is the the size of the funds and the deals they do. Smaller funds set a record for money raised in the fourth quarter, while larger funds saw their take fall by over 20%.

Although these numbers seem to have surprised some analysts, they make sense. Conventional equity investing looks less attractive as corporate profits are prone to soften. As a result, sophisticated investors look for returns elsewhere, especially in smaller funds doing deals for lesser known companies. In times of market instability, private equity funds tend to see more not less investment.

So while the mega-deals of the last few years fade away for a while, anticipate to see more smaller deals for companies you’ve never heard of.

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Oslo shares close flat, gainers led by Golden Ocean, Jinhui UPDATE
CNBC - Telecoms operator Telenor lost just under 1 pct to 103.75 nkr, banking group DnB NOR put on 0.6 pct to 78.60 nkr and fertiliser group Yara International lost 3.2 pct to 303.50 nkr.

TFN NEWS BRIEFING: Banking and insurance highlights to 15:45 GMT
Forbes - facility. Neither the Subscriber nor AFX News warrants the completeness or accuracy of the Service or the suitability of the Service as a trading aid and neither accepts any liability for losses howsoever incurred. The content on this site, including

Dresdner Forecasts `Challenging’ Markets to Calm (Update1)
Bloomberg - Feb. 25 (Bloomberg) — Dresdner Bank AG, the German banking arm of Allianz SE, is sticking to its profitability and cost targets as it forecast “challenging” financial markets will calm down in the second half of the year. The Frankfurt-based bank

GLOBAL MARKETS-Bond insurer rescue hopes boost stocks, dollar
Reuters - LONDON, Feb 25 (Reuters) - World stocks and the dollar rose on Monday as talk of a rescue plan for U.S. bond insurer Ambac and comments that Qatar is interested in investing in European banks eased concerns about the health of the banking sector

Dresdner Bank ready to join Ambac rescue
Earthtimes - FRANKFURT/ZURICH (Reuters) - Dresdner Bank intends to support a rescue package for U.S. bond insurer Ambac Financial Group Inc , but other major European banks declined to say if they would step in. Stefan Jentzch, head of the investment banking

UPDATE 1-Conseco to restate results, has material weakness
Reuters - NEW YORK, Feb 25 (Reuters) - Conseco Inc (CNO.N: Quote , Profile , Research ) said on Monday it will restate nearly three years of financial results to fix a variety of reporting errors, as it addresses a material weakness in its financial controls

WRAPUP 1-British, Dutch put squeeze on Liechtenstein tax dodgers
Forbes - Germany’s move has, though, shaken up European authorities and given other countries in the region with secretive banking laws pause for thought.

Ameriana Bancorp Board Declares Regular Quarterly Dividend
Forbes - Through its wholly owned subsidiary, Ameriana Bank, SB, the Company offers an extensive line of banking services and provides a range of investments and securities products through banking centers in the central Indiana area.

European Commission presses for tighter Basel II banking rules
Life Style Extra - FRANKFURT (Thomson Financial) - The European Commission is pressing for tighter banking regulations under the so-called Basel II deal to be concurred by April 2009 and is seeking the European Parliament’s backing, Handelsblatt reported, citing a

TM Media Group, Inc. Continues Patent Filing Process for E-Commerce in
MSN MoneyCentral - Depending on the game system, an end users game account might be funded with real money by on the web banking or a credit card. “Our response to the U.S.

Electrum Marketing Selected as Branding Agency by AaSys Group
Forbes - Electrum Marketing has been selected to re-brand AaSys Group, a bank IT consulting, networking and bank operations consulting group based in Thonotosassa, Florida. “We selected Electrum because of their reputation throughout the banking industry and

California Luxury Homes Holding Their Value
Biloxi Sun Herald - fourth quarter but rose year-over-year, while San Diego values posted small decreases in the fourth quarter compared to a year ago, according to the First Republic Prestige Home Index(TM) by First Republic Bank, a leading provider of private banking

Internet banking
This is Money - Plus interest rates of savings and current accounts can be far higher - sometimes 30 times more - than with traditional banking. And borrowing money can also be cheaper. Most on the web services let you check balances, transfer funds, pay bills and purchase

Japan’s Seven Bank Raises $481m in IPO
BusinessWeek - An interesting aspect of the deal is that it could appeal to investors keen to find refuge from the difficulties of Japanese banking stocks. These make up the dominant part of the stock market by market capitalisation but sluggishness in earnings

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In my last post I told you of my problems. About how I love “things.” I also talked about how I would track my spending for a week and post it here, for ALL to see. I have to state I was a tiny hesitant in the beginning. “Do I really want EVERYONE to be able to see my bad habits,” I told myself. I even delayed this post a few days while I tossed around the idea of doing this. But look no further…here it is…7 days of spending…courtesy of the lax spender.

02/13/2008 breakfast 7.00
02/13/2008 carlene lunch 4.00
02/14/2008 water bill 132.00
02/14/2008 lunch 9.42
02/15/2008 lunch 30.00
02/15/2008 New Phone 300.00
02/15/2008 Shaq Jersey 100.00
02/16/2008 new phone 360.00
02/17/2008 dinner 12.00
02/17/2008 lunch 34.0002/17/2008 casino 25.00
02/17/2008 hotel 134.29
02/17/2008 tips 10.00
02/17/2008 parking 20.00
02/17/2008 lunch 17.48
02/17/2008 clothes 39.00
02/17/2008 clothes 88.68
02/17/2008 gas 56.55
02/17/2008 home improvement 255.00
02/17/2008 poker 7.50
02/18/2008 harley gas 9.78
02/18/2008 dinner 14.04
02/18/2008 dinner 30.00
02/19/2008 breakfast 7.00
02/20/2008 new phone (wife) 350.00

Total 2052.74

Now to be fair…it was tax return time for me. Some of those things I wouldn’t ordinarily have spent money on. Did I need them? No…but I still got them. It was also Valentines Day. We went to the city and got a nice room, had a nice dinner, did things we don’t normally do. So it turns out this isn’t the most typical of spending logs, but it does show some interesting traits.

What do you all think? There are definitely some other things I could have done with the money. (Emergency fund anyone?)

I am also setting a challenge for myself. For this week, I am going to try and not spend a single penny on snacks, lunch, water or anything the like at work. This means packing lunches…eating breakfast before I go to work. I think I can do it…and I think it will save me some moola.

Everyone reading my posts here has been SO helpful. I look forward to seeing what kind of tips I can get to help me out. See you in a couple days.

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The gold standard - San Francisco Chronicle

The gold standard
San Francisco Chronicle,

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