It is a common scenario all over the country. If you have turned on the evening news in the past year, you know that real estate is not the happy story it once was.
A nutshell summary of what's happened: A lot of people bought homes using a subprime mortgage (loosely defined as a mortgage with an interest rate that wasn't a the government standard) with a monthly payment they thought they could afford (often without putting any money down). But they got into trouble when adjustable rates pushed their montly payments up hundreds or thousands of dollars. As payments went up, property values were falling, so owners could no longer recoup a real estate investment by refinancing or selling. this past March, RealtyTrac, an online foreclosure marketplace, reported that more than 230,000 homes were in foreclosure. People were stating income that wasn't there and the mortgage brokers were inflating beyond even that. People were allowed to buy houses they could not afford. They exaggerated their income.
http://www.geocities.com/openhouselead
http://homes.shopnowshop.com
Tuesday, September 30, 2008
True Piracy Showdown: Wall Street Pirates, Somali Seas Pirates Shake and Provoke World Powers
Sponsored blog: http://personalfinancemoneymatters.blogspot.com
In a week when the West is dealing with some type of financial piracy perpetrated against the ordinary guy, the U.S. taxpayer, we are being served some riveting piracy news from the Seas of Africa. Now the question is whether these rich financial pirates, big money grabbers and fat cats will be allowed to keep all these years worth of fat bonuses, excessive raise and profits while the book was being cooked. Most U.S. taxpayers are saying no to this bailout. These Wall Street pirates were operating in full daylight, in plain view under what has been called high finance or new economy math. Why can't these mathematicians explain their ruse to help put back some faith and confidence into the economy? Why do we have to bailout the same guys who were just messing with our retirement and investments? When we, little guys mess up, we suffer the consequences. Any way, let's take a look at the current Somali Seas piracy case, the modern case of Blackbeard.
Call them sea bandits or whichever expression comes to your mind, the Somali pirates stories bring old memories of Caribbean piracy which most boys grew up with. These bandits want to be seen as good guys who are simply patrolling their seas while preventing illegal fishing, waste dumping and weapon transportation. They want us and the numerous yatcht men and women who were preyed upon to believe they are like a coast guard corps.
The Somali pirates who hijacked a Ukrainian freighter loaded with tanks, artillery, grenade launchers and ammunition said in an interview Tuesday that they had no idea that the ship was carrying arms when they seized it on the high seas.
The pirates thought they had stuck gold on the Indian Ocean. They might have gotten far more than they bargained for. The attack on the Faina, a Ukrainian vessel bringing military equipment to Kenya or Sudan will not go unpunished. It has also provoked the wrath of the U.S.A and Russia among many others steaming nearby. The United States Navy and the Russians are pursuing these bad guys.
Piracy off the Somali coast has been a problem for many years. Its 1,880-mile coastline is crawling with pirates groves. When they strike, they take everything, from sailing yachts to oil tankers. They usually demand millions of dollars in ransom for the ships and their crews.
Realizing that they have been caught by the U.S. warship and various nearby others, the Somali pirates are trying to put a good spin on their illegal acts. They get involved in some infighting, killing three of their comrades. They may have realized how desperate they are on the seas. Caught off from the mother ship that brought them and dropped them off in speedboats, their only lifeline is to brandish their knives and swords, which are no match to the fire power of the U.S. navy and Russian ship.
It is estimated that more than 1,000 gunmen are employed as pirates. Most of them were former fishermen. Using their binoculars and rocket-propelled grenades, they prefer to be in a lucrative business. In the past, French commandos battled with priates who hijacked French yachts.
Russia sent a warship, the Neustrashimy, from a port on the Baltic Sea to the coast of Somalia, in response to the capture by pirates of a Ukrainian vessel bound for Kenya on Thursday. It has also been said that the Russian navy was sending warship The Dauntless to the intercept the merchant vessel and pirates.
On board the vessel were 33 T-72 tanks, grenade launchers and ammunition. The arms were apparently sold legally and were headed for the Kenyan port of Mombasa. Now Russia wants to be assuming its international role by patrolling waters where piracy is a potential danger.
In a week when the West is dealing with some type of financial piracy perpetrated against the ordinary guy, the U.S. taxpayer, we are being served some riveting piracy news from the Seas of Africa. Now the question is whether these rich financial pirates, big money grabbers and fat cats will be allowed to keep all these years worth of fat bonuses, excessive raise and profits while the book was being cooked. Most U.S. taxpayers are saying no to this bailout. These Wall Street pirates were operating in full daylight, in plain view under what has been called high finance or new economy math. Why can't these mathematicians explain their ruse to help put back some faith and confidence into the economy? Why do we have to bailout the same guys who were just messing with our retirement and investments? When we, little guys mess up, we suffer the consequences. Any way, let's take a look at the current Somali Seas piracy case, the modern case of Blackbeard.
Call them sea bandits or whichever expression comes to your mind, the Somali pirates stories bring old memories of Caribbean piracy which most boys grew up with. These bandits want to be seen as good guys who are simply patrolling their seas while preventing illegal fishing, waste dumping and weapon transportation. They want us and the numerous yatcht men and women who were preyed upon to believe they are like a coast guard corps.
The Somali pirates who hijacked a Ukrainian freighter loaded with tanks, artillery, grenade launchers and ammunition said in an interview Tuesday that they had no idea that the ship was carrying arms when they seized it on the high seas.
The pirates thought they had stuck gold on the Indian Ocean. They might have gotten far more than they bargained for. The attack on the Faina, a Ukrainian vessel bringing military equipment to Kenya or Sudan will not go unpunished. It has also provoked the wrath of the U.S.A and Russia among many others steaming nearby. The United States Navy and the Russians are pursuing these bad guys.
Piracy off the Somali coast has been a problem for many years. Its 1,880-mile coastline is crawling with pirates groves. When they strike, they take everything, from sailing yachts to oil tankers. They usually demand millions of dollars in ransom for the ships and their crews.
Realizing that they have been caught by the U.S. warship and various nearby others, the Somali pirates are trying to put a good spin on their illegal acts. They get involved in some infighting, killing three of their comrades. They may have realized how desperate they are on the seas. Caught off from the mother ship that brought them and dropped them off in speedboats, their only lifeline is to brandish their knives and swords, which are no match to the fire power of the U.S. navy and Russian ship.
It is estimated that more than 1,000 gunmen are employed as pirates. Most of them were former fishermen. Using their binoculars and rocket-propelled grenades, they prefer to be in a lucrative business. In the past, French commandos battled with priates who hijacked French yachts.
Russia sent a warship, the Neustrashimy, from a port on the Baltic Sea to the coast of Somalia, in response to the capture by pirates of a Ukrainian vessel bound for Kenya on Thursday. It has also been said that the Russian navy was sending warship The Dauntless to the intercept the merchant vessel and pirates.
On board the vessel were 33 T-72 tanks, grenade launchers and ammunition. The arms were apparently sold legally and were headed for the Kenyan port of Mombasa. Now Russia wants to be assuming its international role by patrolling waters where piracy is a potential danger.
Monday, September 22, 2008
How do we, Americans, get into this financial mess?
All this mess over Fannie and Freddie and the housing crisis mask the real problem in this country - that's the fact that wages have not gone up for average Americans in a long, long time. The economy has been fueled by consumers spending their supposed home equity, while incomes have stagnated for all but those on the highest rungs of corporate America or pop culture. The average Americans do not know what it is like to have lots of discretionary income in a long time. They only work and earn enough money to make ends meet or to pay the bills. For sure, most would envy the large contracts offered and signed by a few athletes, rap moguls, musicians, and hip hop artists. That is why shows such as American Idol and America's Got Talent will continue to be popular. Lottery enters the mix too. They are a sure way to reach success in this country. All young kids dream about making it big in sports, music or some sort of entertainment industry. When they can not make it, they go to places such as Las Vegas, Florida and San Fernando Valley, Los Angeles to try to make it in alternative adult industries. By then, they may become disillusioned and deceived. Where is the power of hard work, saving and living within one's limits?
What has the recent real estate exuberance taught us as a nation?
During the real estate boom, people used their homes as piggy banks, tapping into their equity to pay off their car loans and their credit card debt and their student loan debt. With home prices dropping in most places (Riverside, California, Florida and Las Vegas, the home equity has dried up. Credit was easy to get and many people went for it. For sure, debts piled up. Now we are a nation of people in debt. We, Americans, are saddled by debts. We are at the mercy of foreign investors who continue to trust in our systems by lending and investing more money to our institutions. Yes, it is a global economy right now. It becomes more important for our leaders to reassure those foreigners who are seeing Americans snaking in long lines and making a run on their banks. God forbid these foreign investors, also fearing a crash, start to pull their money too! While this is going on at the financial institution level, everything is getting more expensive: food, gas, school supplies, textbooks, basic products, even movies are soaring in price. Unfortunately wages are not keeping up. So if people are struggling just to pay for the basics, what are they going to have left over to pay off their massive debt?
This bleak situation we have just described partly explains the foreclosure epidemic that has ravaged local neighborhoods. The brown grass that was once green and immaculate becomes common fixture in most neighborhoods. Show me a neighborhood, a community even the best and richest one, that has not had to deal with unsold houses whose for sale signs have been up for months and years.
Indeed, it is time to return to the basics. We need to manage our finances, save and diversify our funds. The good old days are long gone. The home equity cash register is long gone. In most cases, easy money led to waste and overspending. Credit card offers led to the indebtedness of the American individual. In most cases, they led to excess and overweight. It was a false sense of tranquility and wealth. The foundation was shaky, to begin with.
Now is the time to rethink our ways and start saving and spending what we have, but not what we do not have.
What has the recent real estate exuberance taught us as a nation?
During the real estate boom, people used their homes as piggy banks, tapping into their equity to pay off their car loans and their credit card debt and their student loan debt. With home prices dropping in most places (Riverside, California, Florida and Las Vegas, the home equity has dried up. Credit was easy to get and many people went for it. For sure, debts piled up. Now we are a nation of people in debt. We, Americans, are saddled by debts. We are at the mercy of foreign investors who continue to trust in our systems by lending and investing more money to our institutions. Yes, it is a global economy right now. It becomes more important for our leaders to reassure those foreigners who are seeing Americans snaking in long lines and making a run on their banks. God forbid these foreign investors, also fearing a crash, start to pull their money too! While this is going on at the financial institution level, everything is getting more expensive: food, gas, school supplies, textbooks, basic products, even movies are soaring in price. Unfortunately wages are not keeping up. So if people are struggling just to pay for the basics, what are they going to have left over to pay off their massive debt?
This bleak situation we have just described partly explains the foreclosure epidemic that has ravaged local neighborhoods. The brown grass that was once green and immaculate becomes common fixture in most neighborhoods. Show me a neighborhood, a community even the best and richest one, that has not had to deal with unsold houses whose for sale signs have been up for months and years.
Indeed, it is time to return to the basics. We need to manage our finances, save and diversify our funds. The good old days are long gone. The home equity cash register is long gone. In most cases, easy money led to waste and overspending. Credit card offers led to the indebtedness of the American individual. In most cases, they led to excess and overweight. It was a false sense of tranquility and wealth. The foundation was shaky, to begin with.
Now is the time to rethink our ways and start saving and spending what we have, but not what we do not have.
Personal Investing: Do Not Follow Wall Street's Exuberance Examples: How To Live Frugally
When economic times turn tough, governments urge their citizens to spend. Economists think of citizens as "consumers" and rely on them to put their "disposable income" to work. By doing this they will support the economy, which translates into higher stock prices.
However, in times like early 2008, when consumers were reeling from the perfect storm of inflation, a global credit crunch, a global housing market in decline and concerns about stagflation, there is often a conflict with the governmental cry for consumers to spend. It's a bewildering scenario. What's the best course of action for a concerned consumer to take? The following strategies provide a road map for surviving economic downturns.
1. Do Not Buy What You Can Not Afford
We all want that designer sweater, leather handbag, or cute sports car, but most of us just can't afford to make the purchases. There's a simple solution to this dilemma. If you can't afford it, don't buy it. This is often the easiest point to understand, but it is one of the hardest to implement when all those goodies are staring you in the face and all your credit companies are telling you it's OK.
2. If You Can't Pay Cash, You Probably Can't Afford It
In our credit crazy world, amassing debt no longer carries a social stigma. Everybody has a car payment, a house payment and credit card payments. Well, remember what your mother said about everybody jumping off of a bridge? Just because "everybody" is doing it, doesn't make it a good idea. Buying something you can't afford now, especially when the economy is unsettled, can double the pain of paying later. For example, if you purchase a $450,000 home today and the market goes into a slump and devalues your home by $200,000, you will be paying the bank twice what the home has come to be worth. Just because it was easy to get the credit to buy that home, doesn't mean it was the right time for you to buy in.
3. Paying Interest on Anything Makes Somebody Else Rich
When you pay interest on a purchase, you are overpaying for that item for the luxury of getting to use it now. The simple act of paying interest means that the price you are paying to make the purchase is greater than the sale price of the item. You are giving away even more of your hard-earned money in order to own that item than the manufacturer thought the item was worth. For example, if you buy a car for $25,000 with a loan at 7% interest for five years, in the end, you will pay almost $30,000 for the car. Once you factor in depreciation, you're left with a very cheap car that cost you thousands more than it should have.
4. If You Are in Debt, stop Spending Money
Sometimes, such as when purchasing a home, the cost of the item is so great that you simply cannot afford to pay cash. This should be the exception rather than the rule. When it cannot be avoided, you need to close your purse and stop spending. Getting yourself further in debt doesn't help your financial situation. Making a realistic budget in this case is the key to success. Once you know how much you're actually spending on those daily trips to the grocery store and coffee shop, you'll be able to find room to cut costs realistically.
5. Don't Count on Somebody Else to Save You
In times of economic uncertainty, people often think the government will be able to help them, but unfortunately this is often the time when the government has the least amount of money and freedom to help its own citizens. In most cases, the government won't save you, so you'll have to save yourself. When the economy is in a downturn, you can't just look at what you are spending, you also need to look at where the money is coming from. Your employer is facing the same difficulties you are: trying to make bill payments, balancing the flow of capital, all while sales are slowing. Just like you, your employer will be looking to reduce its costs, which could be in the form of layoffs. You could be in big trouble if you haven't planned for this possibility. The plan here is to start saving now for that eventual rainy day, and prepare an emergency fund for yourself. If it is too late to start saving and you already need the money, many financial institutions will let you defer a payment or two if you prove you have a smart financial plan to eventually pull through.
When People Don't Spend
But wait! If we're all hanging on to our money rather than feeding the economy, what will happen? Will stock prices plummet? Will economic growth grind to a halt? Will we all be poor? No. For a real world example of this, let's take a look at Japan, where saving more than consuming has been commonplace in its people's history.
While being a net lender is a concept that the West abandoned some time after World War II, it continued to be practiced in Japan. During the mid-1970s, Reuters reports that Japanese consumers saved some 20% of their disposable incomes. During Japan's economic slump in the 1990s, the Nikkei 225 fell from a peak of 39,000 in 1989 to 16,000 in 1992. Gross domestic product growth averaged less than 1% per year, but personal savings remained in the double digits. Although the unemployment rate rose from less than 2.5% in 1990 to just under 5% in 2000, with an average of 3% percent according to the U.S. Department of Labor, it still remained lower than the rate in most industrialized nations. The net result? Japan remained a healthy, vibrant, wealthy country with a poorly performing stock market. If you've got savings and a smart financial plan, a weak market won't break you.
Live Now Like You Face Tough Times
These five strategies work equally well when times are good, so there is no need to wait until you are in trouble to start making smart decisions.Your lifestyle will be characterized by things you can actually afford, such as a house that won't get repossessed, a car that might not impress the neighbors but will still get you to work and back, and long, restful nights free from financial worries. It might not be the fairytale lifestyle of the rich and famous that corporate marketers having been trying sell you, but at least you won't have to worry about how to keep up on the payments for a lifestyle you can't afford.
However, in times like early 2008, when consumers were reeling from the perfect storm of inflation, a global credit crunch, a global housing market in decline and concerns about stagflation, there is often a conflict with the governmental cry for consumers to spend. It's a bewildering scenario. What's the best course of action for a concerned consumer to take? The following strategies provide a road map for surviving economic downturns.
1. Do Not Buy What You Can Not Afford
We all want that designer sweater, leather handbag, or cute sports car, but most of us just can't afford to make the purchases. There's a simple solution to this dilemma. If you can't afford it, don't buy it. This is often the easiest point to understand, but it is one of the hardest to implement when all those goodies are staring you in the face and all your credit companies are telling you it's OK.
2. If You Can't Pay Cash, You Probably Can't Afford It
In our credit crazy world, amassing debt no longer carries a social stigma. Everybody has a car payment, a house payment and credit card payments. Well, remember what your mother said about everybody jumping off of a bridge? Just because "everybody" is doing it, doesn't make it a good idea. Buying something you can't afford now, especially when the economy is unsettled, can double the pain of paying later. For example, if you purchase a $450,000 home today and the market goes into a slump and devalues your home by $200,000, you will be paying the bank twice what the home has come to be worth. Just because it was easy to get the credit to buy that home, doesn't mean it was the right time for you to buy in.
3. Paying Interest on Anything Makes Somebody Else Rich
When you pay interest on a purchase, you are overpaying for that item for the luxury of getting to use it now. The simple act of paying interest means that the price you are paying to make the purchase is greater than the sale price of the item. You are giving away even more of your hard-earned money in order to own that item than the manufacturer thought the item was worth. For example, if you buy a car for $25,000 with a loan at 7% interest for five years, in the end, you will pay almost $30,000 for the car. Once you factor in depreciation, you're left with a very cheap car that cost you thousands more than it should have.
4. If You Are in Debt, stop Spending Money
Sometimes, such as when purchasing a home, the cost of the item is so great that you simply cannot afford to pay cash. This should be the exception rather than the rule. When it cannot be avoided, you need to close your purse and stop spending. Getting yourself further in debt doesn't help your financial situation. Making a realistic budget in this case is the key to success. Once you know how much you're actually spending on those daily trips to the grocery store and coffee shop, you'll be able to find room to cut costs realistically.
5. Don't Count on Somebody Else to Save You
In times of economic uncertainty, people often think the government will be able to help them, but unfortunately this is often the time when the government has the least amount of money and freedom to help its own citizens. In most cases, the government won't save you, so you'll have to save yourself. When the economy is in a downturn, you can't just look at what you are spending, you also need to look at where the money is coming from. Your employer is facing the same difficulties you are: trying to make bill payments, balancing the flow of capital, all while sales are slowing. Just like you, your employer will be looking to reduce its costs, which could be in the form of layoffs. You could be in big trouble if you haven't planned for this possibility. The plan here is to start saving now for that eventual rainy day, and prepare an emergency fund for yourself. If it is too late to start saving and you already need the money, many financial institutions will let you defer a payment or two if you prove you have a smart financial plan to eventually pull through.
When People Don't Spend
But wait! If we're all hanging on to our money rather than feeding the economy, what will happen? Will stock prices plummet? Will economic growth grind to a halt? Will we all be poor? No. For a real world example of this, let's take a look at Japan, where saving more than consuming has been commonplace in its people's history.
While being a net lender is a concept that the West abandoned some time after World War II, it continued to be practiced in Japan. During the mid-1970s, Reuters reports that Japanese consumers saved some 20% of their disposable incomes. During Japan's economic slump in the 1990s, the Nikkei 225 fell from a peak of 39,000 in 1989 to 16,000 in 1992. Gross domestic product growth averaged less than 1% per year, but personal savings remained in the double digits. Although the unemployment rate rose from less than 2.5% in 1990 to just under 5% in 2000, with an average of 3% percent according to the U.S. Department of Labor, it still remained lower than the rate in most industrialized nations. The net result? Japan remained a healthy, vibrant, wealthy country with a poorly performing stock market. If you've got savings and a smart financial plan, a weak market won't break you.
Live Now Like You Face Tough Times
These five strategies work equally well when times are good, so there is no need to wait until you are in trouble to start making smart decisions.Your lifestyle will be characterized by things you can actually afford, such as a house that won't get repossessed, a car that might not impress the neighbors but will still get you to work and back, and long, restful nights free from financial worries. It might not be the fairytale lifestyle of the rich and famous that corporate marketers having been trying sell you, but at least you won't have to worry about how to keep up on the payments for a lifestyle you can't afford.
Fear Grips Wall Street: Government's Bailout of Rich Money Managers, Merrill Lynch's Takeover, Lehman Brothers Assets Sale, JP Morgan & Chase
Wall Street's Casino Attitude, Questions and Answers: Wall Street's Business Model Incites Greed, Cowboy Investing, Lack of Risks, Push for more Profits and More Borrowing (Leverage)
Wall Street is not what it used to be. Some of the buildings are still there. However, everybody from company directors to ground crew, traders, brokers and customers is running scared. Wall Street as we knew it is having huge problems. Consisting of giant investment houses, brokerage firms, hedge funds and "private equity" firms, Wall Street business model has come under huge assaults from greedy traders and management directors who thought that risks were to be handled differently in their quest for more and more profits.
Bear Stearns is no more. Venerable Merrill Lynch had to find a purchaser in Bank of America. The Feds could not rescue investment bank Lehman Brothers which had to file for bankruptcy. Insurance giant AIG received an $85 billion bailout from the Federal Reserve. That's after the government took over Fannie Mae and Freddie Mac, the largest mortgage lenders in an effort to shore up the economy and the housing market. Investors have just found out that their funds could be lost if it was not for this late-hour lifeline. Foreign investors also had to be reassured. Anything that happens to our economy ends up having great repercussion in other countries' stock markets.
In the past few years, Wall Street has gone away from its business model. They have long lost their role as advisers and intermediaries. In the past, these investment banks used to work for their clients. They traded stocks and bonds for major institutional investors such as insurance companies, pension funds, and mutual funds. They raised capital for companies by underwriting, selling new pension funds, mutual funds. They provided advice to corporate clients on mergers, acquisitions and spinoffs. That's how they made their money by charging fees.
Wall Street's financial institutions changed their focus. They were in business for themselves. They were investing for themselves by using partners' or shareholders' money to place bets on stocks, bonds and other securities which they called "principal transactions.
If anybody wants to do something about Wall Street's compensation system, he/she will have to lay the groundwork to avoid future chaos. It is not a secret that Wall Street's compensation system is heavily skewed toward annual bonuses which reflect the profits traders and management directors earned in the year. Even when these traders and directors were making base salaries of $200,000 to $300,000, bonuses were their gravy. They used to receive bonuses five to 10 times their base salaries.
Unlike commercial banks, investment banks rely too much on borrowed money which they call "leverage." There were too many windfalls caused by too much borrowing. For a long time, traders and money managers were focusing too much on their own short-term profits. That is why the crash was just around the corner. Wall Street was being severely damaged by these acts. Short-term goals were met, but investors, shareholders and the rest of the country were going to get hurt. Everyone involved had huge incentives to increase borrowing.
Wall Street is not what it used to be. Some of the buildings are still there. However, everybody from company directors to ground crew, traders, brokers and customers is running scared. Wall Street as we knew it is having huge problems. Consisting of giant investment houses, brokerage firms, hedge funds and "private equity" firms, Wall Street business model has come under huge assaults from greedy traders and management directors who thought that risks were to be handled differently in their quest for more and more profits.
Bear Stearns is no more. Venerable Merrill Lynch had to find a purchaser in Bank of America. The Feds could not rescue investment bank Lehman Brothers which had to file for bankruptcy. Insurance giant AIG received an $85 billion bailout from the Federal Reserve. That's after the government took over Fannie Mae and Freddie Mac, the largest mortgage lenders in an effort to shore up the economy and the housing market. Investors have just found out that their funds could be lost if it was not for this late-hour lifeline. Foreign investors also had to be reassured. Anything that happens to our economy ends up having great repercussion in other countries' stock markets.
In the past few years, Wall Street has gone away from its business model. They have long lost their role as advisers and intermediaries. In the past, these investment banks used to work for their clients. They traded stocks and bonds for major institutional investors such as insurance companies, pension funds, and mutual funds. They raised capital for companies by underwriting, selling new pension funds, mutual funds. They provided advice to corporate clients on mergers, acquisitions and spinoffs. That's how they made their money by charging fees.
Wall Street's financial institutions changed their focus. They were in business for themselves. They were investing for themselves by using partners' or shareholders' money to place bets on stocks, bonds and other securities which they called "principal transactions.
If anybody wants to do something about Wall Street's compensation system, he/she will have to lay the groundwork to avoid future chaos. It is not a secret that Wall Street's compensation system is heavily skewed toward annual bonuses which reflect the profits traders and management directors earned in the year. Even when these traders and directors were making base salaries of $200,000 to $300,000, bonuses were their gravy. They used to receive bonuses five to 10 times their base salaries.
Unlike commercial banks, investment banks rely too much on borrowed money which they call "leverage." There were too many windfalls caused by too much borrowing. For a long time, traders and money managers were focusing too much on their own short-term profits. That is why the crash was just around the corner. Wall Street was being severely damaged by these acts. Short-term goals were met, but investors, shareholders and the rest of the country were going to get hurt. Everyone involved had huge incentives to increase borrowing.
Sunday, September 21, 2008
Hollywood is no Wall Street: Bold Colors on the Red Carpet while Fear Grips Wall Street
Perhaps it was the recent collapse of Lehman Brothers that had most attendees avoiding Elizabeth Taylor-worthy statement necklaces and opting for oversized earrings and bold cuff bracelets. Only nominee America Ferrera, wearing a 19th century diamond flower necklace from Fred Leighton, and Nicolette Sheridan adorned their throats.
Bold colors, rather than carats, proved to be the prevailing look-this-way ploy. And on this 76 degree Sunday afternoon, refreshing sorbet was the inspiration. Brooke Shields dazzled in a ruffled raspberry Badgley Mischka gown, while Tina Fey in David Meister and Holly Hunter in Jenny Packham chose variations on grape. Julia Louis-Dreyfus' melon Narciso Rodriguez, with its beaded bandage bodice, was a sexy and daring choice that paid off. Her uninspired updo, however, felt frumpy by comparison.
Yellow, which can backfire severely, worked wonders on a bronzed Mariska Hargitay in Carolina Herrera, Becki Newton and raven-haired Teri Hatcher. Christina Applegate, nominated for her role on "Samantha Who?," wafted like incense in a Reem Acra silk organza, jacquard draped gown in soft blue. "Ugly Betty" nominee Ferrera's poufy black confection felt like it fell out of an auntie's closet and didn't complement her vixen-red lips and Veronica Lake waves. A column gown or mermaid cut would have been a much better and younger bet for the only nominee under 30.
It was refreshing to see a few bare knees too. Eva Longoria Parker and Kyra Sedgwick looked sophisticated in cocktail-length dresses. Marcia Cross' blush-toned Elie Saab was a wonder, with dozens of elaborate floral appliques.
The more mature contenders certainly didn't let age-old fashion directives affect their choices. Fortysomethings like Sedgwick and Mary-Louise Parker showed off manes that could sweep chimneys. Holly Hunter, at 50, looked ready to hang 10 with her beach bunny blond locks.
Oh, and was there a big game on this afternoon? How else to explain the fact that the men didn't exactly go all out? Most arrived in simple, knotted ties and nary a lapel pin. The guys from "Entourage" in shiny matching knotted ties and tousled hair could easily have been mistaken for a boy band, if it hadn't been for Kevin Dillon's sleek bow tie. Patrick Dempsey and Lee Pace (the latter a nominee for "Pushing Daisies") also commanded respect in sophisticated tuxedos.
But in the end, it was Christina Hendricks of "Mad Men" who caused red carpet collisions and gapes of envy in her ruched Tadashi gown. The sheer magnitude of her alabaster bosom made her stand out like a natural monument. Add to that a goddess-like upsweep of her Titian locks and dramatic cat-eye make up. Sometimes, more
Bold colors, rather than carats, proved to be the prevailing look-this-way ploy. And on this 76 degree Sunday afternoon, refreshing sorbet was the inspiration. Brooke Shields dazzled in a ruffled raspberry Badgley Mischka gown, while Tina Fey in David Meister and Holly Hunter in Jenny Packham chose variations on grape. Julia Louis-Dreyfus' melon Narciso Rodriguez, with its beaded bandage bodice, was a sexy and daring choice that paid off. Her uninspired updo, however, felt frumpy by comparison.
Yellow, which can backfire severely, worked wonders on a bronzed Mariska Hargitay in Carolina Herrera, Becki Newton and raven-haired Teri Hatcher. Christina Applegate, nominated for her role on "Samantha Who?," wafted like incense in a Reem Acra silk organza, jacquard draped gown in soft blue. "Ugly Betty" nominee Ferrera's poufy black confection felt like it fell out of an auntie's closet and didn't complement her vixen-red lips and Veronica Lake waves. A column gown or mermaid cut would have been a much better and younger bet for the only nominee under 30.
It was refreshing to see a few bare knees too. Eva Longoria Parker and Kyra Sedgwick looked sophisticated in cocktail-length dresses. Marcia Cross' blush-toned Elie Saab was a wonder, with dozens of elaborate floral appliques.
The more mature contenders certainly didn't let age-old fashion directives affect their choices. Fortysomethings like Sedgwick and Mary-Louise Parker showed off manes that could sweep chimneys. Holly Hunter, at 50, looked ready to hang 10 with her beach bunny blond locks.
Oh, and was there a big game on this afternoon? How else to explain the fact that the men didn't exactly go all out? Most arrived in simple, knotted ties and nary a lapel pin. The guys from "Entourage" in shiny matching knotted ties and tousled hair could easily have been mistaken for a boy band, if it hadn't been for Kevin Dillon's sleek bow tie. Patrick Dempsey and Lee Pace (the latter a nominee for "Pushing Daisies") also commanded respect in sophisticated tuxedos.
But in the end, it was Christina Hendricks of "Mad Men" who caused red carpet collisions and gapes of envy in her ruched Tadashi gown. The sheer magnitude of her alabaster bosom made her stand out like a natural monument. Add to that a goddess-like upsweep of her Titian locks and dramatic cat-eye make up. Sometimes, more
Wednesday, August 27, 2008
Frederick's of Hollywood's Racy, Risque Lingerie and Intimates Apparel Empire
Frederick's of Hollywood's Racy, Risque Lingerie and Intimates Apparel Empire
Racy Lingerie and Intimates Retailer Frederick's of Hollywood Will Go Head to Head, Toe to Toe Against Victoria's Secret at Fashion Fair Mall
Conservative Central Valley of California Men and Women will Loosen Up a bit as they Lavish Frederick's on Loved Ones
In preparation for the Holiday Season, Frederick's of Hollywood will open its newest store at Fresno, CA, Fashion Fair Mall. That will place it right across from Victoria's Secret which has been updating its merchandise line. Both stores will benefit from the heavy mall traffic. Despite the opening of some very chic stores at RiverPark Shopping Center, Fashion Fair Mall on the Shaw thoroughfares has been able to hold its own.
By November 1, Frederick's of Hollywood will open its doors to the public. Its push up bras and other sensual and sexy line of products will be displayed on the mannequins at the mall. How will the retailer keep teenagers away from some racy items? Will there be an age check up at the door? Some of the undies offered at Victoria's Secret may have already turned the heads of some older shoppers. The more risque the better it seems to be for the youngsters these days. For sure, Frederick's of Hollywood has known something that most have not known. Through its online site (Fredericks.com), the company may have already studied the statistics and found out that most of its sales and traffic come from the Central Valley which has recently exploded in populations. There is a vibrant market here that can easily support these two competitors. The demographics explain it all. All the major stores are already here. Sephora has been meeting the beauty, makeup needs of most Central Valley women. Why not give them something to be proud of? Conservative or not, women and men from the San Joaquin Valley of California want to be proud of what they wear underneath. That is what Frederick's knows how to provide all too well.
Trendy national retailers already exist in the Central Valley. We are talking about the likes of shopping centers such as Fig Garden Village, The Shops at River Park and elsewhere.
What is the history of Frederick's of Hollywood?
The company was founded in 1946 by Frederick Mellinger. It had a great mail-order business. As it grew, it began selling extremely seductive lingerie. Frederick's operates 175 stores nationwide. Its managers have been talking about pioneering the push-up bra, black bras and panties. It has been reported that in the 1940s a woman wearing a Frederick's bikini was detained for showing too much skin on a Southern California beach. It was during the conservative period.
Is this the first time Frederick's of Hollywood is coming to Fresno, CA?
Every woman who wants to feel sexy for herself will visit these two stores at least once a month. And men who want their woman to be sexy will either take them there or purchase little presents for them. That is the way it was when the store was in downtown Fresno in the 1980s when competitors came out with new underthings.
Everyone hopes that the store is going to stick around for a while this time. As far as the marriage or proximity of these two competitors, we already see how Quiznos and Subway attract traffic and do business. In most Califonria malls especially in the Bay Area, Southern California and Sacramento, wherever you see a Victoria's Secret store, there is a Frederick's. This is what the marketers call clustering.
Who will shop at Frederick's and Victoria's Secret?
Shoppers who care about saving money will flock to Frederick's as its prices tend to be lower on most of its products. For example, the company carries $24 bras. Victoria's Secret's prices are higher. With its merger with Movie Star Inc., a manufacturer and distributor of intimate apparel, Frederick's can afford to sell some of its items at a lower price. Get ready to browse the store's corsets and the Seduction sub brand.
Racy Lingerie and Intimates Retailer Frederick's of Hollywood Will Go Head to Head, Toe to Toe Against Victoria's Secret at Fashion Fair Mall
Conservative Central Valley of California Men and Women will Loosen Up a bit as they Lavish Frederick's on Loved Ones
In preparation for the Holiday Season, Frederick's of Hollywood will open its newest store at Fresno, CA, Fashion Fair Mall. That will place it right across from Victoria's Secret which has been updating its merchandise line. Both stores will benefit from the heavy mall traffic. Despite the opening of some very chic stores at RiverPark Shopping Center, Fashion Fair Mall on the Shaw thoroughfares has been able to hold its own.
By November 1, Frederick's of Hollywood will open its doors to the public. Its push up bras and other sensual and sexy line of products will be displayed on the mannequins at the mall. How will the retailer keep teenagers away from some racy items? Will there be an age check up at the door? Some of the undies offered at Victoria's Secret may have already turned the heads of some older shoppers. The more risque the better it seems to be for the youngsters these days. For sure, Frederick's of Hollywood has known something that most have not known. Through its online site (Fredericks.com), the company may have already studied the statistics and found out that most of its sales and traffic come from the Central Valley which has recently exploded in populations. There is a vibrant market here that can easily support these two competitors. The demographics explain it all. All the major stores are already here. Sephora has been meeting the beauty, makeup needs of most Central Valley women. Why not give them something to be proud of? Conservative or not, women and men from the San Joaquin Valley of California want to be proud of what they wear underneath. That is what Frederick's knows how to provide all too well.
Trendy national retailers already exist in the Central Valley. We are talking about the likes of shopping centers such as Fig Garden Village, The Shops at River Park and elsewhere.
What is the history of Frederick's of Hollywood?
The company was founded in 1946 by Frederick Mellinger. It had a great mail-order business. As it grew, it began selling extremely seductive lingerie. Frederick's operates 175 stores nationwide. Its managers have been talking about pioneering the push-up bra, black bras and panties. It has been reported that in the 1940s a woman wearing a Frederick's bikini was detained for showing too much skin on a Southern California beach. It was during the conservative period.
Is this the first time Frederick's of Hollywood is coming to Fresno, CA?
Every woman who wants to feel sexy for herself will visit these two stores at least once a month. And men who want their woman to be sexy will either take them there or purchase little presents for them. That is the way it was when the store was in downtown Fresno in the 1980s when competitors came out with new underthings.
Everyone hopes that the store is going to stick around for a while this time. As far as the marriage or proximity of these two competitors, we already see how Quiznos and Subway attract traffic and do business. In most Califonria malls especially in the Bay Area, Southern California and Sacramento, wherever you see a Victoria's Secret store, there is a Frederick's. This is what the marketers call clustering.
Who will shop at Frederick's and Victoria's Secret?
Shoppers who care about saving money will flock to Frederick's as its prices tend to be lower on most of its products. For example, the company carries $24 bras. Victoria's Secret's prices are higher. With its merger with Movie Star Inc., a manufacturer and distributor of intimate apparel, Frederick's can afford to sell some of its items at a lower price. Get ready to browse the store's corsets and the Seduction sub brand.
Wednesday, April 23, 2008
Sponsorandfeedachild is a network for good, Visit it and Change a LIFE
Have you been looking for a good organization to help those in need? Sponsorandfeedachild is the kind of killerstartup that helps social network to change others' lives. Wallstreet365live and many other sites are supporting this type of network whose goal is to help others. Check out the site which monitors world food crisis. See FoodFuel: World Food Crisis
Get Cash for your Cell Phone, PDA, iPhone, iTune and Other Electronic Gadgets: Use BuymyTronics
Now you have a way to ecologically get rid of your electronics. Buymytronics.com is the answer to your problems. It is easy to submit your information and receive a check in the mail or use paypal once your product has been received.
Help feed a child now. Go to Sponsorandfeedachild.blogspot.com
Sunday, April 6, 2008
Wall Street is Not Main Street: Congress Rescues Bear Stearns, but not Housing and Residential Mortgage Markets
Wall Street is Not Main Street: Congress Rescues Bear Stearns, but not Housing and Residential Mortgage Markets
What will it take for individual homeowners and residential Mortgage investors to get some help from somebody? Thus, millions of Americans are suffering in silence. Some of them had a chance to unleash and/or unload some of their tormenting emotions on their senators, home for the Spring Break. They gave them an earful. They told them about the decreasing value of their home and land. Gas prices were also discussed. With their incomes staying the same, parents still have to feed and clothe their families. High prices and foreclosures are oppressing us, the people. We do not know where to turn and to whom to turn. Before and while we are losing our homes, we would like congress to take some broad action to keep us from being eliminated and drowned in debt.
If major New York investment bank, Bear Stearns, could be rescued by a sale to JPMorgan Chase, why can't we, the people, get something, just a little something that will keep us from becoming homeless or keep food on the table for our kids? While things are looking up for some Wall Street companies, investment firms and others, they stay the same or even are getting worse for the rest of us on Main Street USA. We are seeing our homes being bought by foreigners whose currency is stronger than the once mighty dollar. Airplane loads of Euro-rich Europeans are flocking to our shores to find bargain while we can no longer afford some of the goods. We can no longer participate in our favorite pastime, shopping. It is true that we will never be like the Cubans whose government has just allowed them to shop, but lack of discretionary income or cash to buy stuff makes us feel poor now. This recession may last a short time, but we are feeling the pressure it puts us under. We are seeing its grip on the people wherever we turn.
The questions that many people are asking are whether the new collaborative plans announced by the Republican administration and coalition of senators will allow struggling homeowners to refinance their stiffling ARM into traditional 30-year loans.
What will it take for individual homeowners and residential Mortgage investors to get some help from somebody? Thus, millions of Americans are suffering in silence. Some of them had a chance to unleash and/or unload some of their tormenting emotions on their senators, home for the Spring Break. They gave them an earful. They told them about the decreasing value of their home and land. Gas prices were also discussed. With their incomes staying the same, parents still have to feed and clothe their families. High prices and foreclosures are oppressing us, the people. We do not know where to turn and to whom to turn. Before and while we are losing our homes, we would like congress to take some broad action to keep us from being eliminated and drowned in debt.
If major New York investment bank, Bear Stearns, could be rescued by a sale to JPMorgan Chase, why can't we, the people, get something, just a little something that will keep us from becoming homeless or keep food on the table for our kids? While things are looking up for some Wall Street companies, investment firms and others, they stay the same or even are getting worse for the rest of us on Main Street USA. We are seeing our homes being bought by foreigners whose currency is stronger than the once mighty dollar. Airplane loads of Euro-rich Europeans are flocking to our shores to find bargain while we can no longer afford some of the goods. We can no longer participate in our favorite pastime, shopping. It is true that we will never be like the Cubans whose government has just allowed them to shop, but lack of discretionary income or cash to buy stuff makes us feel poor now. This recession may last a short time, but we are feeling the pressure it puts us under. We are seeing its grip on the people wherever we turn.
The questions that many people are asking are whether the new collaborative plans announced by the Republican administration and coalition of senators will allow struggling homeowners to refinance their stiffling ARM into traditional 30-year loans.
Wednesday, April 2, 2008
Investors Needed: Huge market of Poor People Wanting Small Loans to Start Businesses
How Would you like to be linked to Poor Individuals all over the World?
Are you ready to discover the beauty and the psychological benefits that come from doing something good? Lending money to the poor through microfinance is the way to go. You can make the microfinance loans through charitable organizations and the Web. Brought to the highlight by Muhammad Yunus, Microcredit is the practice of making small loans to the world's poor. What is surprising to investors is that, according to Wall Street Journal, more than 97% of the loan recipients pay their loans back. Who said that the poor were not creditworthy?
If you are a high-networth individual, there are a lot of groups that are willing to help you meet the right group of people to loan some cash to. Calvert which his a national financial services organization with TIAA-CREF, international microfinance organization Accion are helping people, investors make small loans of 3 to 4 years to individuals all over the world.
Last October, Ebay launched MicroPlace to help connect you with the needy of the world. It is known as a place for microfinance for investors. Go to Microplace.com to find out.
In the past few years, Kiva.org has attracted a lot of attention to microfinance. Individuals could select a recipient and contribute $25.00 or more online. Once the money is repaid, the investor can choose to lend again.
Accion's Global Bridge Fund allows individual investors to lend money to the funds and earn interest while their pooled funds support small to midsize microfinance institutions. Like Calvert, Accion guarantees the fund which is not rated by rating agencies.
Are you ready to discover the beauty and the psychological benefits that come from doing something good? Lending money to the poor through microfinance is the way to go. You can make the microfinance loans through charitable organizations and the Web. Brought to the highlight by Muhammad Yunus, Microcredit is the practice of making small loans to the world's poor. What is surprising to investors is that, according to Wall Street Journal, more than 97% of the loan recipients pay their loans back. Who said that the poor were not creditworthy?
If you are a high-networth individual, there are a lot of groups that are willing to help you meet the right group of people to loan some cash to. Calvert which his a national financial services organization with TIAA-CREF, international microfinance organization Accion are helping people, investors make small loans of 3 to 4 years to individuals all over the world.
Last October, Ebay launched MicroPlace to help connect you with the needy of the world. It is known as a place for microfinance for investors. Go to Microplace.com to find out.
In the past few years, Kiva.org has attracted a lot of attention to microfinance. Individuals could select a recipient and contribute $25.00 or more online. Once the money is repaid, the investor can choose to lend again.
Accion's Global Bridge Fund allows individual investors to lend money to the funds and earn interest while their pooled funds support small to midsize microfinance institutions. Like Calvert, Accion guarantees the fund which is not rated by rating agencies.
Wall Street Main Street: Feds Taking Closer Looks at the Wall Street Traders, Managers and CEOS
It was written on the wall. It was time that the market redresses itself. The exuberant excesses must have come to an end. Now the fund managers and banks that profited a lot during the hey days of the housing market are finding themselves in a bind. There was a lack of monitoring when things were going right. All that mattered was that money was being made at a crazy rate. Now, it is time that some regulations be put in place.
The questions that many shareholders are asking are whether those CEOs who got huge bonuses are going to pay pack some of the money they pocketed. How will the stockholders be compensated during these times of excess?
This is just a short list of questions I am hearing on the street. Once again, Wall Street becomes Main Street. People are suffering all over the place. Homeowners are losing the value of their home. They can not afford to shop. There is a recession on the horizon. Who is to blame? Gas prices are sky high. Groceries are expensive. Clothes shopping is high too. What is one to do in this economy?
Read more at The Shopping Power of the American Dollar
Go to www.microcreditcapital.com to get more info.
The questions that many shareholders are asking are whether those CEOs who got huge bonuses are going to pay pack some of the money they pocketed. How will the stockholders be compensated during these times of excess?
This is just a short list of questions I am hearing on the street. Once again, Wall Street becomes Main Street. People are suffering all over the place. Homeowners are losing the value of their home. They can not afford to shop. There is a recession on the horizon. Who is to blame? Gas prices are sky high. Groceries are expensive. Clothes shopping is high too. What is one to do in this economy?
Read more at The Shopping Power of the American Dollar
Go to www.microcreditcapital.com to get more info.
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