Book Publisher Negotiating To Discuss Book On Evil

Get Good Credit Book Publisher Campaigns Feds 
 
Washington, DC  20201     March 28 2006 

 

Evil Money Evil Credit by Alton J. Jones 
 
Alton J. Jones, "How to Get Good Credit" expert and author of the book, “Evil Money Evil Credit,” which was published by High Tower Books, is touring the nation to teach the fundamentals of credit and the perils of personal finance and life skills mismanagement from his own experience.
Just as teens need to be ready to learn to read when they enter high school, they also need to manage their personal finances as they enter the workforce. High Tower Books is currently negotiating with the U.S. Department of Health and Human Services’ State Director’s Offices to discuss its solution for assisting Temporary Assistance for Needy Families (TANF) program recipients in assisting them in obtaining self-sufficiency as well as assisting the State Offices in data and caseload reduction credit maximization. Rob Gentry, Editor-in-Chief says, “John Hougen, Director of Public Assistance at the North Dakota Department of Human Services was quite receptive to reviewing our literature. We are anticipating other states will follow suit.”

 

TANF is a block grant program designed to make dramatic reforms to the nation's welfare system by moving recipients into work and turning welfare into a program of temporary assistance. TANF replaced the national welfare program known as Aid to Families with Dependent Children (AFDC) and the related programs known as the Job Opportunities and Basic Skills Training (JOBS) program and the Emergency Assistance (EA) program.

 

High Tower Books and Jones plans to bring together legislation, lending and educational institutions across the country to help develop solutions for enhancing financial literacy.

 

High Tower Books and Jones are committed to encouraging legislation to significantly strengthen its efforts to teaching financial literacy programs.

 

Rob Gentry (Sales@HighTowerBooks.com)
Editor-in-Chief
High Tower Books
2425 East Camelback Road, Suite 950
Phoenix, AZ   85016
Phone : 888.308.5858
Fax : 602.296.0243 
 
High Tower Books 
 
More Information Temporary Assistance for Needy Families Program Summary 

---

[Editor's comments: I was impressed when I read this:

 

"High Tower Books is currently negotiating with the U.S. Department of Health and Human Services’ State Director’s Offices to discuss its solution for assisting Temporary Assistance for Needy Families (TANF) program recipients in assisting them in obtaining self-sufficiency as well as assisting the State Offices in data and caseload reduction credit maximization."

 

However even after reading it a couple of times I am still not sure of what it means...? (hris ]

Helpful List of Tax Credits And Tax Deductions

Top Ten Credits/Deductions That May Save You Tax Dollars 
 
Appleton, WI  54912-8002   -  March 28 2006 – As our parents used to tell us when we were young, “Every little bit helps.” Of course, they were referring to putting money in the piggy bank, but the sage advice can also apply to saving money on your tax returns. Here is a quick list of tax credits and deductions to check out before sending in your tax return so you don’t miss any opportunities to save.

 

1) Earned Income Tax Credit (EITC) – This credit applies to low-income, employed individuals and families. The credit is based on income and family size, and if the EITC amount exceeds the owed amount, it may result in a refund for those who qualify.

 

2) Child and Dependent Care Credit – This credit is for care expenses for children under age 13 or for a disabled spouse or dependent, so that a taxpayer can go to work. It is subject to limitations.

 

3) Child Tax Credit – The maximum amount of this credit is $1,000 for each qualifying child and can be used in combination with the Child and Dependent Care Credit.

 

4) Adoption Credit – If you are an adoptive parent, you may be eligible for a credit of up to $10,630 of qualifying expenses for a qualifying child. For special needs children, you do not need to meet the qualifying expense criteria.

 

5) Educator Expense Deduction – Those who are employed as educators through grade 12 and teach at least 900 hours in a year may receive a deduction for up to $250 for unreimbursed expenses used for the sake of the children.

 

6) Education Credits – Two credits are available for those who pay higher education costs – the Hope Credit and the Lifetime Learning Credit. The Hope is for payment of the first two years of tuition for eligible students you claim on your tax return, and Lifetime Learning is for all post-secondary education tuition for an unlimited number of years. Taxpayers cannot claim both credits for the same student in one tax year, and the credit can be claimed only on the return declaring the student as a dependent.

 

7) Medical and Dental Deductions – Qualified expenses for all of your claimed dependents (including any dependents deceased during the tax year) count toward your eligible deduction. Eligible expenses include insurance premiums, uninsured medical expenses, treatments not covered by insurance, travel for medical care, medically necessary equipment, and more.

 

8) Health Coverage Tax Credit – This new tax credit can pay up to two-thirds of health plan premiums for individuals who lost their jobs due to the effects of international trade and meet certain criteria, and those who receive benefits from the Pension Benefit Guaranty Corporation (PBGC) and are at least 55 years old.

 

9) Credit for the Elderly and Disabled – If you are a U.S. citizen or resident age 65 or older, and retired on permanent and total disability, look into this credit.

 

10) Retirement Savings Contribution – For those with qualified retirement savings contributions including traditional IRAs, Roth IRAs, SEPs, or SIMPLE plans, a percentage of contributions may help you save on your taxes. Taxpayers who are at least age 18 at year-end, not a student or claimed on someone else’s tax return as a dependent, are eligible for this credit if income is below a specified amount. FYI, you can still contribute to an IRS for 2005 up until April 17, 2006.

 

If all of these credits and deductions have you scratching your head in confusion, don’t worry. A reputable tax preparer can help, often for little more than the cost of tax software and the charge for e-filing, plus you don’t have to do the work! Professional tax preparers are experts who keep up-to-date year-round on tax law changes. They can save you time and offer insight on how to use the tax breaks available to you. To find a professional tax preparer, look to NATP. NATP maintains a listing of professionals in your area at www.taxprofessionals.com.

 

To receive a FREE brochure on how to find a tax preparer, visit the NATP Press Room at www.natptax.com and download a copy of NATP’s “Finding the Right Tax Preparer” brochure.

 

Members of the National Association of Tax Professionals (NATP) assist over eight million taxpayers with tax preparation and planning. NATP is a nonprofit professional association founded in 1979 and provides professional education, tax research, and products to its members. The national headquarters, located in Appleton, WI, employs 43 professionals and 25 instructors.

 

NATP exists to serve professionals who work in all areas of tax practice and has more than 17,500 members nationwide. Members include individual tax preparers, enrolled agents, certified public accountants, accountants, attorneys, and financial planners. The average NATP member has been in the tax business for over 20 years and holds a tax/financial designation or a college degree. Learn more at www.natptax.com.

 

Would you like a photo to accompany this article? Visit NATP’s press room: http://www.natptax.com/press_room_photos.html.

 

# # end # # 
 
Char De Coster (cdecoster@natptax.com)
Copywriter / Communications Editor
National Association of Tax Professionals (NATP)
720 Association Drive, PO Box 8002
Appleton, WI   54912-8002
Phone : 800.558.3402 ext. 1172
Fax : 920.968.7472 

Highest Real Estate Price Increase Highest In Europe: Malta

Malta Real Estate Increase Highest In Europe

Malta has seen her property prices rise by more than any other EU country, and there’s no sign of a slow down for the years ahead.

[ClickPress, Wed Mar 22 2006] The Mediterranean island of Malta has recorded the strongest growth in property prices from countries in the European Union, and recent news could help see property inflation in double figures for the next few years.

Figures released by the European Mortgage Federation show Malta’s rise of over eighteen per cent was higher than both France and Spain.

Two EU countries, Germany and Austria, saw house prices drop, while Portugal, Greece and the Netherlands were barely into positive territory.

And property insiders on the island are predicting that strong growth could be around for a few years yet, giving Malta the potential to be seen by investors as a good place to buy.

Tribune Properties who specialise in property for sale in Malta report that the first quarter of 2006 has seen a good level of activity, with the top end of the market seeing particularly good performance levels.

‘The first couple of weeks of January were slower than the same period last year’ comments Michael Johnson, Tribune’s Managing Director, ‘but since then the number of sales has matched last year – a very good one – but villas with an asking price of a million Euros and more has seen increased activity, and a good number of sales’.

Malta Hotels and Holidays

The independent information site for holidays and hotels in Malta http://www.yourmalta.com also report increased interest in their property pages compared to the first quarter of 2005, with the number of page views increasing by nearly a third.

Sustained property inflation at levels seen in Malta are rarely seen in other countries, but new economic activity on the island could see property demand at good levels for some years to come.

A new ‘Smart City’ is planned which could see Malta competing with the rest of Europe as a business destination for internet and other high-tech companies. English is spoken fluently in Malta, and coupled with relatively low salaries locally it is hoped that inward investment and 5000 new jobs will help the Maltese economy which in turn will boost the property, hotel and holiday markets.

The tourist industry is vital to Malta’s economy, and it is hoped that the arrival of low cost airlines providing new flights to Malta will benefit the Malta holidays industry as well as the many hotels in Malta.

If Malta can combine the attractions of a Mediterranean holiday island with a modern infrastructure and high tech friendly business in a low tax environment, today’s property prices could look like a bargain in five years time.

The introduction of low cost flights to Malta from the UK will open up the possibility of more buyers looking at the island for holiday homes that could be used for long weekends, and the Malta hotels industry could reap the benefits of the 3 and 4 day tourist seeing the island as a viable place to visit.

Malta has traditionally seen the majority of her visitors from the UK, but this could be changing to a more diverse mix in future years.

Last year saw a record number of visitors from Italy, and increased enquiries have been received at estate agents across the island from Scandanvia, Holland, France and Belgium, helping to increase the demand for Malta properties.

After some years of wondering how Malta would fit into the modern world, property agents, hotel owners and the Malta holidays industry are beginning to see the future with some optimism.

###
For Malta information and advice, including holidays in Malta, weather, map, real estate and property, car hire, flights and villa holidays visit http://www.yourmalta.com
For hotels in Malta including the Qawra Palace, Palm Court and others in Mellieha, Valletta, St Paul’s Bay, Bugibba, Qawra, Sliema and St Julian’s visit http://www.yourmalta.com/hotels

For properties in Malta http://www.maltaproperty.info

Company: Your Malta Contact Name: tribune Contact Email: welbeck36@hotmail.com Contact Phone: 44 1483 870340

Interest On Loans Is Forbidden At Islamic Wealth Management Event

2nd Islamic Wealth Management Event almost fully booked - Networking Arena free of charge
 
Press Release by: Michael Gassner Consultancy 

 

(openPR) - Citigroup and Deutsche Bank speaking on alternatives for bonds suitable for Muslims

 

Cologne, 17 March 2006

 

The annual gathering regarding Islamic wealth management is undertaken in the Hôtel du Rhône in Geneva on 28/29 March and bookings are quite advanced - only a few seats are still available.

 

The seminar covers the most pressing needs of the high net worth Muslim investor, which are the replacement of bonds, the new trend for Islamic hedge funds, how to alleviate poverty with rewarding investments, and new methods for addressing issues of family offices.

 

As interest on loans is forbidden in Islam, conventional bonds are likewise. However, bonds represent at least 33 % of each conventionally managed high net worth portfolio on average. Alternatives which can be used to create a similarly efficient portfolio is the subject for a dedicated session: Presentations will be held by Geert Bossuyt, Deutsche Bank AG, and Rached Khanfir, Citigroup.

 

"The event is done only for the second time and demand for such kind of trainings is out there", says the organiser Michael Gassner. Further he adds "The huge amount of Muslim wealth in Geneva will be increasingly switched toward Islamic financial products. From our perspective Geneva is the strategic place to be."

 

Besides the training sessions, networking will be another core focus for this gathering: The hall opens from 4.00 pm to 6.00 pm for financial professionals and high net worth individuals, who need to register beforehand. Such valuable networking opportunities are uncommon for most forums, but we want to invite all involved people from Switzerland and abroad to get together. “Geneva is getting under stronger competition from Singapore, Dubai and Bahrain. Islamic finance products needs to be available in Geneva to maintain its prime position”, said Michael Gassner.

 

The event is headed and followed by optional workshops introducing to Islamic Finance, Shariah compliant asset management and Family Offices. The latter workshop on 30 March is essential to parties interested in creating better efficiencies and higher levels of service through family offices and is relevant for both conventional players and those working on Islamic precepts.

 

About Islamic Finance.de Consultancy

 

The Michael Gassner Consultancy is the leading research and advisory firm on Islamic finance in Germany. It publishes “Islamic Finance.de Executive News,” the leading bulletin for executives, with a circulation of over 2000 monthly readers. The firm works with financial institutions to develop and structure products based on banking and finance principles, yet supported by a general understanding of the objectives and principles of Islamic law. The firm also offers marketing advise, roadshow organisation and trainings. For more information, visit www.islamicwealthmanagement.com .

 

The full brochure is avalaible at: www.islamicfinance.de/islamiwealthmanagement.pdf
www.islamicwealthmanagement.com

 

For interviews please call: Michael Saleh Gassner, +49 7000 42 77 637

 

Press Cards upon request avalaible from the organiser.

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Theft of Consumers' PIN Numbers from a Major Bank

Identity Theft Expert Says the Theft of Consumers’ PIN Numbers from a Major Bank Shows High-Tech Fraud Knows No Bounds
 
(openPR) - (BOSTON, Mass. – March 16, 2006 - IDTheftSecurity.com) Last week high-tech thieves hacked the computer systems at Citibank and made off with countless ATM cards’ PIN numbers, four-digit consumer security codes previously considered impervious to attacks. According to Robert Siciliano, president of IDTheftSecurity.com, no system of security is foolproof. He said any tendency to believe so breeds complacency, the key ingredient online identity thieves and others need in order to operate under the radar.

 

“We need to lose the Titanic mentality when it comes to high-tech crime,” said Siciliano, an identity theft and personal security expert who presents workshops to Fortune 500 companies nationwide. “How many times do we need to hit an iceberg before we alter our course? Anything can happen and will. No computer system is immune. Even the tried-and-true PIN number method of security can sink.”

 

Author of "The Safety Minute: 01" and an upcoming book, "Identity Theft Pandemic: Curing the Identity Theft Virus," Siciliano provides consumer education solutions to Fortune 500 companies and their clients. Siciliano has appeared on CNBC’s “On the Money” multiple times this year to discuss identity theft.

 

According to a March 9 report in InformationWeek, the PIN number scam that Citibank experienced has affected additional institutions: Bank of America, Wells Fargo, Washington Mutual, and smaller banks. Thieves apparently hacked into an “as yet unknown system” to pilfer all the information they’d need to make use of victims’ ATM cards, which the article described as the “data stored on debit cards' magnetic stripes, the associated "PIN blocks," or encrypted PIN data, and the key for that encrypted data.”

 

A Gartner Research analyst remarked that the industry had always thought PIN numbers would be safe from hacking attacks, but the InformationWeek article went on to explain how retailers’ infrastructure can undermine PIN security. Stores’ computer data storing systems can play fast and loose with the PIN numbers consumers leave at the point of sale. ATM machines are largely secure, but checkout line PIN use can be risky.

 

“One of the problems with identity theft and related fraud is the sprawling transactional system we use for retail,” said Siciliano. “Point-of-sale transactions occur every second across a nation bursting at the seams with retailers ranging from large chains to mom and pop shops. This yields a large quantity of personal financial data, and no standard seems to be guiding retailers in the safekeeping of this information. Without standardization of security, the quality of security is bound to vary wildly and collapse in failure.”

 

Siciliano contended that commonsense indicts organized crime rings such as Webmobs in sophisticated breaches such as the PIN-related thefts at Citibank. And recent reports have indicated that identity fraud–related organized crime continues to flourish. A March 6 Denver Business Journal article documented the shenanigans of a Mexico-based crime family whose alleged fake ID operations reach into 33 states. According to law enforcement officials quoted, the group’s infrastructure is robust.

 

“As many have noted, identity theft, fraud, and related online theft all threaten not only our finances, but our national security,” Siciliano concluded. “Lax policies may cut costs in the short term, but in the long run consumers lose money, and we all lose our security.”

 

###

 

Identity theft affects us all, which is why Robert Siciliano, president of IDTheftSecurity.com, makes it his mission to provide consumer education solutions on identity theft to Fortune 500 companies and their clients. A leader of personal safety and security seminars nationwide, Siciliano has been featured on CNN, MSNBC, Fox News, “The Suze Orman Show,” “ABC News with Sam Donaldson,” “The Montel Williams Show,” “Maury Povich,” “Sally Jesse Raphael,” and “The Howard Stern Show.”

 

The media may reach Siciliano at 1 (888) SICILIANO (742-4542). Visit his Web site, www.IDTheftSecurity.com , or his blog, www.IDTheftSecurity.blogspot.com . Siciliano’s full contact information follows:

 

Robert Siciliano
Personal Security Expert
PHONE: 888-SICILIANO (742-4542)
FAX: 877-2-FAX-NOW (232-9669)
E-MAIL: Robert@IDTheftSecurity.com
http://www.idtheftsecurity.com/

 

The media are encouraged to get in touch with Siciliano directly. They may also contact:

 

Brent W. Skinner, President
STETrevisions
PHONE: 617-875-4859
FAX: 866-663-6557
E-MAIL: BrentSkinner@STETrevisions.biz
http://www.STETrevisions.biz

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Foreclosure Listings: Their Loss, Your Gain

 

HomeSaleDirectory Inc. Adds Thousands of Foreclosure Listings to Its Web Site

Partnership with Foreclosure.com to provide even more real estate opportunities for visitors.

Boca Raton, FL (PRWEB) March 15, 2006 -- Foreclosure.com today announced a partnership to provide foreclosure data to HomeSaleDirectory Inc., a rapidly growing Web-based company that brings buyers and sellers in the real estate market together.

“Real estate investors and homebuyers are constantly searching for great deals. As a result, we needed to partner with a leader in the industry that could provide us with an accurate and comprehensive selection of foreclosure listings,” said Alex Schult, president, HomeSaleDirectory, Inc. “We carefully researched the marketplace and found Foreclosure.com to be the best."

Under the agreement, HomeSaleDirectory Inc. will obtain data from Foreclosure.com and provide their site visitors with access to America’s most comprehensive database of foreclosure listings. This data includes property information and in-depth details such as exclusive tax roll information, property photos, as well as seller/listing contact information.

"Consumers are now able to search our national database of listings without ever leaving HomeSaleDirectory.com," said Zack Preble, partner relations manager, Foreclosure.com. “This partnership will remind visitors that a large inventory of foreclosed properties exists across the county. And, it will showcase the potential value that these properties often represent.”

"HomeSaleDirectory prides itself on strategic partnerships that provide our visitors with award-winning content and resources,” said Schult. “We are excited to offer the comprehensive listings that Foreclosure.com provides, and we look forward to a long and rewarding partnership.”

About HomeSaleDirectory Inc.
HomeSaleDirectory Inc. is a privately held California corporation that is quickly becoming one of the fastest growing tools on the Web, specializing in bringing buyers and sellers in the real estate market together. For more information regarding HomeSaleDirectory Inc., feel free to visit www.homesaledirectory.com or call 888-237-2507 for more information.

About Foreclosure.com
With more than 1.2 million foreclosure, preforeclosure, bankruptcy, FSBO and tax lien listings in one place, Foreclosure.com delivers America's largest and most accurate searchable database of foreclosed homes and investment property information to its customers and business partners. Based in Boca Raton, Florida, Foreclosure.com works with hundreds of top lending institutions and government agencies to list diverse property types on its Web site, including Real Estate Owned (REO); Department of Housing and Urban Development (HUD); Department of Veterans Affairs (VA); Fannie Mae; and other government agency and financial institution properties; as well as listings from an extensive network of corporate sellers. On the Web: www.foreclosure.com.

Media contact:
Thomas Myers
Foreclosure.com
(561) 981-5337 ext. 381

# # #

Press Contact: Thomas Myers
Company Name: FORECLOSURE.COM
Email: email protected from spam bots
Phone: 5619815337 . 381
Website: www.foreclosure.com

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Lawyers Work Overtime To Force IBM To Pay Worker Overtime

Landmark Overtime Pay Class Action Lawsuit Against IBM By Tech Workers Expands

 

SAN FRANCISCO--(BUSINESS WIRE)--March 14, 2006--Counsel for plaintiffs in the nationwide overtime pay class action lawsuit against International Business Machines Corporation (IBM) announced today that the suit has now expanded to include claims under Colorado, Illinois, Minnesota, and New Jersey state law. The suit already included claims for overtime compensation under federal law for all workers in the United States as well as California and New York state law claims.

 

The growing group of named plaintiffs, seeking to represent tens of thousands of other current and former technical support workers, charges the computer giant with failure to properly pay overtime wages. Claims under other states' laws may be added in the future.

 

IBM employs more than 300,000 workers; the proposed class includes tens of thousand of systems administrators, network technicians and other technical staff throughout the United States. "This case could result in one of the largest class action lawsuits in history, both in numbers of employees and total damages, ever filed against a corporation for failure to pay overtime wages," said James Finberg, an attorney with Lieff, Cabraser, Heimann & Bernstein, one of eight law firms representing the plaintiffs.

 

The amended class action complaint alleges violations of federal law on behalf of a nationwide class of IBM high tech workers as well as violations of the labor laws of California, Colorado, Illinois, Minnesota, New Jersey and New York on behalf of classes of IBM workers in each respective state. "Workers from anywhere in the United States are eligible to participate in the case as well," explained Todd Jackson of Lewis, Feinberg, Renaker & Jackson, P.C.

 

The lawsuit charges that IBM deprives its employees who install, maintain, and support computer software and hardware by unlawfully characterizing them as "exempt" from state and federal labor law protections. The proposed classes consist of current and former IBM technical support workers with the primary duties of installing and/or maintaining computer software and hardware for IBM who were wrongly classified by the company as exempt from the overtime provisions of federal law and/or applicable state wage and hour laws.

 

The complaint in Rosenburg, et al. v. IBM, was originally filed in U.S. District Court in San Francisco on January 24, 2006, and amended on March 13, 2006, by attorneys from Lieff Cabraser Heimann & Bernstein, LLP (San Francisco); Lewis Feinberg Renaker & Jackson, P.C. (Oakland), Rudy, Exelrod & Zieff, LLP (San Francisco); Outten & Golden LLP (New York); Spiro, Moss, Barness, Harrison & Barge, LLP (Los Angeles); Lee & Braziel, LLP (Dallas); Bruckner Burch, PLLC (Houston); and Goldstein, Demchak, Baller, Borgen & Dardarian (Oakland).

 

Further Information

 

Members of the media can obtain a copy of the amended complaint by contacting Amy Yu of Lieff Cabraser by e-mail to ayu@lchb.com.

 

Current and former IBM systems administrators and technical staff who wish to learn more about the lawsuit or to join the lawsuit should visit www.overtimepaylawsuitagainstIBM.com or call 1-866-397-1008 to contact plaintiffs' attorneys.

 

Contacts
Lieff Cabraser Heimann & Bernstein, LLP
James M. Finberg, 415-956-1000
or
Lewis Feinberg Renaker & Jackson, P.C.
Todd F. Jackson, 510-839-6824 (Oakland, CA 94612)
or
Rudy, Exelrod & Zieff, LLP
Steven G. Zieff, 415-434-9800 or 800-869-0165
(San Francisco, CA 94104)
or
Outten & Golden LLP
Adam T. Klein, 212-245-1000
or
Spiro, Moss, Barness, Harrison & Barge, LLP
Ira Spiro, 310-235-2468 (Los Angeles, CA)
or
Lee & Braziel, LLP
J. Derek Braziel, 214-749-1400 (Dallas, TX)
or
Bruckner Burch, PLLC
Richard Burch, 713-877-8065 (Houston, TX)
or
Goldstein, Demchak, Baller, Borgen & Dardarian
David Borgen, 510-763-9800 (Oakland, CA 94612)

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Bankruptcy Code Can Help Slumlords

 

Landlords Rejoice! The Bankruptcy Code Loves You

Certain changes in the bankruptcy laws, which were enacted 'under the radar screen' afford dramatic improvements in the rights of commercial landlords, at just the time when they might come in handiest, due to a slowing economy and softer real estate values.

New York, NY (PRWEB) March 13, 2006 -- "In the wake of the recent and very substantial changes to the nation's bankruptcy laws, the most significant beneficiaries are likely to be commercial landlords." So says Warren R. Graham, a bankruptcy lawyer with 25 years of experience, much of it representing both landlords and tenants in large Chapter 11 reorganizations.

"Most of the public attention, in the enactment of the new law, has been paid to consumer matters and credit card debt, given that the prime movers for the new legislation were consumer credit issuers," says Graham. "But many changes have been made in the area of business bankruptcies, which are profound, and which have received virtually no reportage." Much of this did not seem so important since the new law took effect in October, 2005, in the midst of a vibrant economy and explosive real estate market. "But," Graham argues, "with the potential confluence of a weakening economy and softer real estate values, the prospect for commercial lease dispositions in bankruptcy cases is likely to increase dramatically, and soon."

The new law gives a commercial tenant in bankruptcy 120 days, with a possible one-time 90 additional days, to 'assume' or 'reject' its lease. After that, unless the landlord consents, the lease reverts to the landlord. "Under prior law," said Graham, "landlords could get stuck for many months, or even years, as debtors marketed valuable leases for the benefit of their creditors, often at the expense and risk of the landlords. The uncertainty occasioned by being held 'in legal limbo' created problems for landlords wishing to sell their properties, refinance, or even, in the case of shopping centers, lease adjoining space, because of 'cross-default' and 'use-clause' provisions." This is a particularly important phenomenon in large retail Chapter 11 cases, in which hundreds, or even thousands of leases may be implicated, and the values realized by their sales often determine the success or failure of the reorganization effort.

Graham's own experience, in fact, includes the representation of one shopping center landlord, whose single lease was marketed out of three separate bankruptcies: W.T Grant, Caldor and Ames Department Stores.

According to Graham, the consensus among bankruptcy professionals is that the jury is still very much out on the benefits of the new law for issuers of consumer credit. It has, in fact, been argued that, even as those entities lobbied hard for the changes in the law, the likelihood is that their recoveries will not be materially enhanced by them. "But there is little doubt," Graham claims, "that landlords will benefit greatly by being able to rely on a swift and certain disposition of their property interests in Chapter 11 Cases. Next year's Christmas season may come earlier for retail landlords than for their retail tenants. And the role of Santa Claus may be played by the United States Congress, with bankruptcy lawyers in the supporting roles of his elves."

Warren R. Graham is an attorney with the New York Law Firm of Cohen Tauber Spievack & Wagner LLP, and a member of its Bankruptcy, Creditors’ Rights and Restructuring Department. He has been a frequent lecturer and writer on legal, political and religious subjects.

# # #

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Making Excuses For Consumer Debt

Why consumer pocketbooks had a rough start this millennium

by Mark Trumbull Staff writer of The Christian Science Monitor

March 11, 2006 - Median family income rose just 1.6 percent between 2001 and 2004, a Federal Reserve survey released Thursday shows. As Americans entered a new millennium, gains in their pocketbook slowed dramatically.

Median incomes rose just 1.6 percent after inflation during the 2001-04 period, according to data released Thursday by the Federal Reserve Board. The median family net worth, a measure of wealth that represents the sum of all assets minus liabilities, rose a similarly small 1.5 percent in that period.

Gains are better than losses, but the survey confirms and amplifies a trend of wage stagnation that is continuing to dampen American paychecks into 2006.

"It is a long-term trend," says Mark Weisbrot, an economist at the Center for Economic and Policy Research in Washington, which studies the well-being of American workers and families. "Over the past 30 years, the median wage has grown about 9 or 10 percent."

The Federal Reserve survey of consumer finances comes out every three years, and represents a more detailed portrait of family finances than the monthly economic reports that come from the Department of Labor or other government agencies.

The period studied in its new survey encompassed a rocky time for the stock market, a slow-growing job market, and a rise in both home prices and family debts.

Inflation-adjusted incomes have grown so slowly, Mr. Weisbrot says, despite solid growth in productivity. A worker today is able to produce about 80 percent more, per hour of work, than his or her counterpart 30 years ago.

"Globalization is part of the process by which the bargaining power of most employees in the United States has been drastically reduced so that they don't capture most of the gains from the economy," he says.

Thanks in large measure to a rough stock market, the 2001-04 period was not necessarily a lucrative one for the richest Americans either.

The median measure of income captures the "typical" family - with half of households above and half beneath that number. It reached $43,200 in 2004, up from $42,500 in 2001.

Yet average incomes fell, in part due to a plunge in the earnings of the top 10 percent of families ranked on a scale of net worth. Essentially, they weren't able to earn as much on their assets as in 2001. It's not that managerial salaries have fallen. But the recent period hasn't been quite the booming opportunity for capital gains and stock options that the late 1990s was.

Thus, the average American family income fell from $72,400 in 2001 to $70,700 in 2004. The average income of families in the top 10 percent of net worth fell from $273,100 to $256,000 during that period.

The net worth, meanwhile, rose somewhat for families of all levels of wealth, although not as strongly as in the late 1990s.

The median, or midpoint, for net worth rose by 1.5 percent to $93,100 from 2001 to 2004. That growth was far below the 10.3 percent gain in median net worth from 1998 to 2001, a period when the stock market reached record highs before starting to decline in early 2000.

The Fed survey found that the share of Americans' financial assets invested in stocks dipped to 17.6 percent in 2004, down from 21.7 percent in 2001.

The percentage of Americans who owned stocks, either directly or through a mutual fund, fell by 3.3 percentage points to 48.6 percent in 2004, down from 51.9 percent in 2001.
Stock ownership rates were highest in 2004 among families with higher incomes and heads of households aged 55 to 64. Overall median stock holdings fell to $24,300 in 2004, down from $36,700 in 2001. With baby boomers turning 60 this year and nearing retirement, the survey found that the percentage of families with some type of tax-deferred retirement account, such as a 401(k), fell by 2.5 percentage points to 49.7 percent of all families.

However, those who had retirement accounts saw their holdings increase. The median for holdings in retirement accounts rose by 13.9 percent to $35,200.

The Fed survey found that debts as a percent of total assets rose to 15 percent in 2004, up from 12.1 percent in 2001. Mortgages to finance home purchases were by far the biggest share of total debt at 75.2 percent in 2004, unchanged from the 2001 level.
"Three key shifts in the 2001-04 period underlie the changes in net worth," said the Fed researchers involved in the study. "First, the strong appreciation of house values and a rise in the rate of homeownership produced a substantial gain in the value of holdings of residential real estate."

Second, the rate of ownership of stocks in direct and indirect forms (such as through mutual funds) declined, as did the typical amount held.

Third, the amount of debt relative to assets surged, notably debt secured by real estate. The upshot: "Families devoted more of their income to servicing debts, despite a general decline in interest rates," the researchers said.

The fraction of families with debt payments 60 days or more overdue rose substantially, mainly among people in the bottom 80 percent of the income ladder.

The Fed survey of consumer finances is conducted between May and December of every third year, and involves interviews with several thousand US families.

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US Marshals Target Deadbeat Dad For Keeping Kidney

FOR IMMEDIATE RELEASE	CONTACT:
March 9, 2006	U.S. Marshals Service Western District of Kentucky (502) 588-8010
U.S. MARSHALS ADD DEADBEAT DAD AND GIRLFRIEND TO 15 MOST WANTED LIST
Louisville, KY – U.S. Marshals have added “deadbeat dad” Byron Keith Perkins and his girlfriend Lea Ann Howard to their 15 Most Wanted fugitive list as they increase the effort to track down the man who promised to donate a kidney to his ailing son, but skipped town instead. This callous act resulted in his being dubbed the “most hated man in America.” "This case was made one of our priorities because of the urgent nature of the situation. The life of this man’s son is in jeopardy unless he gets this kidney transplant,” said Robert J. Finan II, Assistant Director of the U.S. Marshals Investigative Services Division. Perkins (37) was allowed to leave jail in January after he convinced authorities that he was going to donate a kidney to save the life of his desperately ill son. He was in jail awaiting sentencing on a gun and drug conviction for which the minimum jail term is 25 years. A career criminal, he had previously served seven years for bank robbery. Marshals believe Perkins is traveling with his girlfriend Lea Ann Howard (36). They were last seen driving in a 1994 blue-green Ford Crown Victoria with Kentucky license plate 784-BHS. There have been reports that the fugitive couple might have fled to Mexico where they were allegedly sighted near Puerto Vallarta. Both Perkins and Howard have criminal records involving drugs and weapons, and Howard has a prior conviction for solicitation to murder. “I’ve dealt with many unsavory characters during my career, but this one is particularly vile. His own son’s life is at stake here,” said U.S. Marshal Ronald “Rick” McCubbin. Byron Keith Perkins, alias Eric Perkins, is a white male, height 6”3”, weight 240 pounds. He has brown eyes and hair, and a medium complexion. He has tattoos on both his left and right forearms, upper arms and shoulders. Lea Ann Howard. alias Lea Ann Spradlin, Lea Ann Alford, and Lea Ann Perkins, is a white female, height 5”7”, weight 120 pounds, with blue eyes, brown hair and medium complexion. An insulin dependent diabetic, Howard also has a stab wound scar on her back and wears glasses. Howard is wanted by the U.S. Marshals for unlawful flight to avoid prosecution based on Kentucky state charges of robbery, marijuana trafficking, and persistent felony offender. “We are focusing on bringing these fugitives in both to serve justice and to see if Perkins makes good on a promise to save his son’s life,” said Marshal McCubbin. Both Perkins and Howard are considered armed and dangerous. A reward of up to $25,000 is being offered for information directly leading to the arrest of either Byron Keith Perkins or Lea Ann Howard. Anyone with information about these fugitives is asked to call the U.S. Marshals at 877- WANTED2. Fugitive apprehension is one of the major missions of the U.S. Marshals. They capture more federal fugitives each year than all other law enforcement agencies combined.

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Real Estate Business Expansion, Or Greed?

Real Estate Lesson Learned: Is Big Better?

Education, Training, Mentoring, Networking, Clubs, Groups, REIA, Associations, Forms, Resources, And Properties!

( EMAILWIRE.COM, March 07, 2006 )   Livonia, MI -- At one time in my life I was buying 7-8 Houses a month, fixing them up and then reselling them. Then I got the bright Idea that if I can buy and sell 7-8 a month, I can buy and sell 80. This was a choice that eventually led me to bankruptcy. This has not been that long ago. Twice in my life I have made a lot of money and then took on a large growth spurt and got a large learning experience in business failure. The last one resulted in bankruptcy.

It is hard when things are going well to not be seduced by more is better. When you have something working for you, it is easy to become overconfident and start to think of multiplying it. As with most things in life, you want to be sure when you take on something, that you complete it. Pumping up the volume, puts you at risk of not having the structures and being set up to deliver on what you are committed to. You naturally encounter problems that were not present on a smaller scale.

It is hard when things are going well to not be seduced by more is better. I had to learn personally that pride goeth before the fall. The bottom line is that there are always good deals in Real Estate! I say measure your success one house at a time. Buy investor property, fix it up, resell it, rent, do a lease-option, but do it one house at a time.

Multiple Purchases?

One of the most common mistakes I see in business is where investors come into the business and think they need to do multiple houses at a time. Try this on: Try doubling the cost you think it will take to fix the property, doubling the time you think it will take to rehab the property and figure your holding costs doubled (insurance, mortgage payments, taxes, lights, gas, rehab cost).

Great deals in Real Estate don’t come in houses fixed and ready to sell. The great buys come from houses that need work. If you are just getting started, stick to cosmetic rehabs (paint and carpet), Don’t take on major rehabs. It will take time to develop rehab crew. The most successful people I see in Real Estate do one house at a time. Failures are great, if you look at them and ask what action was missing that would have made a difference?

Hard money lenders?

One pitfall is using very expensive money. For years I ran a business financed on money from Real Estate Investors who are called hard money lenders. They look at collateral and loan money based on receiving interest can be 18% or higher when you figure in the closing costs. When you get multiple properties in this condition, you will have interest payments that are going to be double and triple what conventional financing is in Real Estate.

Now combine this with the common lie we tell ourselves that we can repair the house and put it back on the market for sale or rent in a short time. Your overhead will rise because you will need a staff to manage and rehab everything. Can you see this is a recipe for disaster for everyone? Now if you are doing one house at a time, your overhead will probably stay very low, with very little staff. Therefore you have limited your expenditure of time, money and aggravation.

At one time, my overhead was in excess of $50,000.00 per month. I had to depend on other people to do everything, including checking the work. A hundred percent of the monies I was making went paying down my debts and I kept telling myself I would turn it around tomorrow. I found myself with houses that were not finished and houses being lost in foreclosure and for taxes. That left me a very motivated seller and bankruptcy was looming large. With my overhead still there, I attempted to wholesale deals. I decided I would no longer find, repair and resell homes. Instead I would find great buys and sell them to other investors.

Basically, I started my business over. It takes a great amount of time to cultivate a list of investors interested in buying deals. This business is built on the concept you can borrow you way out of debt, but it just does not work. You have family, friends, and business associates that may get hurt or destroyed. I’m not saying this to tell you a sad story, but rather in the hopes that by sharing it, someone else can avoid the pain of my mistakes. Take from this what you can learn for yourself. I am 53 years old and starting over. I now have the knowledge to build a business with the proper foundation. I teach Real Estate Investing class now that look for pitfalls and what is needed to do a successful deal one at a time.

My advice to you on handling real estate transactions is:

Use Title Companies

What can happen to you when you fail to get title insurance? We had a participant in one of our seminars, who purchased a house to fix it up. He invested over $40,000 into the home in both repairs and purchase price. When he went to refinance, he found out the person he purchased the house from was not in the chain of title. In other words, he did not have a clear title. Whenever you purchase a home, always close through a title company with title insurance on the property. Title insurance is protection that insures the borrower or lender that they get the property with marketable title. They will only insure the property for the purchase price or for the amount of the mortgage.

Use a reputable lender

Interview lenders. Go to Real Estate Investor Clubs to find out from other investors which companies are doing the best job. Are you at risk when you use a lender that wants to cross collateralize loans or wants personal guarantees? One lender I know will get one-two year mortgages and demand a right to lien all the properties you own to procure the loan you are getting. Just beware, if you are buying the property to fix up and resell, there are things that you don’t always plan on like: twice as much rehab cost as you planned for, longer marketing time than you initially thought, resulting in added holding costs, or maybe the market moves the wrong direction and you can’t sell the property, so you rent it.

Now one of your other properties or even your personal residence needs to be refinanced. You now have a lien showing against the property. Now what do you do? Think before you jump. If you have purchased the property right, you should be able to borrow money based on the equity of that property - not you’re home and other properties.

This same lender will ask for a personal guarantee signed by you, your wife and your partner. This personal guarantee allows his mortgage company to lien anything the partner and wife own. Not only that, but this particular lender demands that you use a Title Company he owns. Now when you want to sell another one of your houses and this same cross collateral loan will show up on any property you are selling. Now you are faced with using his title company or he won’t release his loan. Beware of putting yourself in a situation where you are using a person who controls the lending, title work, the appraiser and the Real Estate Company.

Do you think, if you had your title work placed with a company the Lender had ownership in, you might run into a problem getting the documents released or have a clean closing at the same title company? Why risk letting human emotions drive a stake into your deals? Keep an arms length distance within your dealings. If you are selling homes or wholesaling property, let the buyer find his own lender and make sure you get an independent title company. Make sure there is not a conflict of interest in the title company, mortgage company, and real estate company. Keep the integrity in the deal. I am sure there are title companies, real estate companies, and mortgage companies, where there is common ownership that run very good businesses and can separate the conflicts of interests and profit centers. However, to protect yourself, make sure you receive proper disclosure of common ownership. You can always look at the volume of business they are doing in each business and check with the state of Michigan Licensing Dept. for any complaints against the firm.

In the 25 years that Ralph Maupin (also known as Mark) has been working with real estate, he has purchased over 3,500 single family homes and many multi family properties. He is a member of MLS.

http://www.megaeveningevent.com

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Insurance Brokers Have New Friend With Meridian Financial

 

Meridian Financial Teams up with Atkinson & Terry Insurance Brokers

New franchise, Meridian Atkinson & Terry Mortgages, is ground breaking in the mortgage/ insurance brokerage industry. This new addition to the Meridian team now brings the number of franchises to 16 throughout British Columbia and Alberta.

Port Moody, BC (PRWEB) March 2, 2006 -- Meridian Financial Services Ltd. is pleased to announce the opening of its newest franchise with Atkinson & Terry Insurance Brokers. The new franchise, Meridian Atkinson & Terry Mortgages, is ground breaking in the mortgage/ insurance brokerage industry. This new addition to the Meridian team now brings the number of franchises to 16 throughout British Columbia and Alberta.

“We are very excited about our affiliation with Meridian. Their team shares our business philosophy and service standards” says Dave Terry, Partner of Atkinson & Terry Insurance Brokers. “We treat all our staff and clients the way we would want to be treated and this will only strengthen our ability to provide our clients with the best financial products and services.”

Atkinson & Terry Insurance Brokers were established in 1971 and have grown to become one of BC's largest Independent Autoplan Brokers. Currently Atkinson & Terry has 18 locations in the lower mainland and are continuing to grow with market demands. Convenient hours and locations, experienced staff coupled with the best selection of products available have been the foundation of the business.

“We are thrilled to forge new ground with such a reputable organization“” says Matt Kirby, Vice President of Franchise Operations. “Atkinson & Terry have built a business on providing superior products and services to their customers, so it was a very natural fit for our two companies to come together.

Meridian Financial Services has been specializing in the development of the mortgage brokerage industry since the first location opened in Coquitlam in 1995. Controlled growth has seen franchise offices open throughout British Columbia and Alberta, specifically associated with independently owned real estate, financial planning and general insurance offices.

Meridian franchises obtain mortgages on behalf of borrowers through the major lenders in Canada. Meridian currently has over 50 lenders on their system, including BNS, BMO, CIBC Firstline, TDCT, HSBC, ING Direct and most major credit unions in Canada. Due to having one of the largest collective volumes in Western Canada, Meridian guarantees the lowest mortgage rate to its clients at no cost to the borrower. Meridian currently has independently owned and operated franchise locations in Burnaby, Campbell River, Coquitlam, Courtenay, Edmonton, Invermere, Kamloops, Kelowna, Nanaimo, Parksville, Penticton, Port Moody, Prince George, South Delta, Surrey, Vancouver, and West Vancouver.

For additional information, Contact:
Matt Kirby
Vice President of Franchise Operations
Meridian Financial Services Ltd.
Phone: 604.908.5009
Fax: 604.949.1040

###

Press Contact: Matthew Kirby
Company Name: MERIDIAN FINANCIAL
Email: email protected from spam bots
Phone: 604.908.5009
Website: http://www.canadianmortgagelenders.com/

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