Tax day - Nearly half of Americans owe nothing

Tax Day, probably the most infamous date on the calendar to many people, falls upon April 18 this year. The legal obligation must be observed, in spite of the resentment toward paying an income tax. Tax Day is certainly resented by the individuals who have to write the government a check on tax day, however the nearly 50 percent who do not may be fine with it. Article source – Tax day – Nearly half of Americans owe nothing by MoneyBlogNewz.

Little over half of Americans pay taxes on income

Tax Day 2011 falls on April 18 instead of April 15. This year almost 45 percent of households will not have to pay any taxes on their 2010 income, according to Bloomberg. The Earned Income Credit and Making Work Pay Credit are examples of exemptions and deductions that are common in the low-income households. Anyone that makes hardly any money or lives on fixed incomes such as disability or Social Security will not pay any income taxes. If you do not make much and have kids, you probably will not pay taxes either. This is generally the case. The average tax refund, according to CNN, was $3,003 last year.

Wealthy paying less

The tax burden for the wealthiest taxpayers, according to Daily Finance, has been falling for some time. In 2007, 17 percent of income was paid by 300 highest income returns which were 26 percent in 1992. The wealthiest 5 percent account for 44 percent of the nation’s tax revenue while the top 10 percent is more than half of it. The tax breaks for the rich are becoming more readily accessible also. In the United States tax code, there are over $1 trillion in tax breaks. That means $8,000 to every tax payer could be given as a refund. However, attempting to catch the Internal Revenue Service napping is not a good idea. USA Today reports that now, there are more charges than ever the IRS wants to put out.

Developed countries typically pay more in taxes than Americans

Though many people protest the U.S. tax system for myriad reasons, most technical literature reveals that Americans pay very little income tax in contrast to the rest of the developed world, according to MSNBC. The tax data for the developed world is kept by the OECD, or Organization for Economic Co-operation and Development. According to the OECD, income tax in the U.S. typically averages 24 percent. In Danes, it is 48 percent; in France it is 42 percent; in Germany it is 37 percent; and in Australia it is 27 percent.

Articles cited

Bloomberg

bloomberg.com/news/2011-04-18/nonpayers-complicate-republican-effort-at-overhaul-of-u-s-tax-code.html

CNN

money.cnn.com/2011/01/14/pf/taxes/tax_refund/index.htm

Daily Finance

dailyfinance.com/2011/04/18/super-rich-see-federal-taxes-drop-dramatically/

USA Today

usatoday.com/money/perfi/taxes/2011-04-17-Prosecutions-of-tax-evaders-up.htm

MSNBC

msnbc.msn.com/id/42612937/ns/business-tax_tactics

Same day loan critics attack NFL lockout loans

For every $100 loaned to customers via same day loans, a 15 to 25 percent fee is added for the convenience. This amounts to $50 or $60 in most cases, which is hardly earth-shattering. According to Yahoo! Sports, now there’s a high-dollar variant of such instant payday advances for disenfranchised athletes: the NFL lockout loan. Players out of cash because of the labor dispute are being solicited by lending agents. Source of article – NFL lockout loans: More money, more problems by MoneyBlogNewz.

Interest on lockout loans of 36 percent Annual Percentage Rate

A 36 percent APR on a loan as little as $300 to $400 will not mean much while it can cost quite a bit for NFL lockout loans of over $60,000. The loans have been accessed by many players. Yahoo! Sports reports they were given to players from at least 16 teams.

The NFL Players Association lockout fund has helped some players, but clearly the response to high-risk lockout loans indicates that some players have not curbed their extravagant lifestyles in the absence of their paydays. The National Football League Players Association advised players to save at least three game checks from the previous season in anticipation of the 2011 lockout, but insiders report the advice may not have been heeded. MSNBC reports that it was also suggested by the NFLPA that players do other things to save and make money. This would contain autograph signings, fly coach or refinance their homes.

Why do NFL players have money issues

From a young age, star athletes are surrounded by enablers, according to psychologists. Since the players have never had to be in charge of their own finances, they have no idea how to do it once they get to professional ranks. Millions being given to somebody who was poor might also be a problem. These individuals might just spend it all up. After retirement, most NFL players end up bankrupt. Sports Illustrated estimates this to be about 80 percent of players. MSNBC indicates that as many as 380 of the NFL’s 1,700 players live from paycheck to paycheck, even though the average NFL annual salary in 2010 was $1.87 million. Players who spend too much can have a lot of difficulties, after taxes and agents, especially since rookie averages were at $320,000.

Lockout loan support

Sherard Rogers, a financial adviser to numerous NFL athletes, told Yahoo! Sports that lockout loans are a legitimate product that meets player demand. While franchises will endure, players who live to spend can run into trouble.

“Every NFL team was valued at over $1 billion, so they can weather the storm of a lockout. But could players if there weren’t resources to cover this short-term labor dispute?” asked Rogers. “The key is to figure out how to solve the short-term liquidity issue and put the pieces in place to ensure they don’t have this liquidity issue again.”

Information from

MSNBC

msnbc.msn.com/id/41855264/ns/business-personal_finance/41855226

Philly Sports Column

philly.sportscolumn.com/showthread.php?t=11751

The Real Athlete Blog

accessathletes.com/blog/blogDisplay.cfm?/Education-is-Key-for-Pro-Athletes-596

The Post Game

thepostgame.com/features/201104/tpg-exclusive-cash-strapped-nfl-players-seeking-high-risk-lockout-loans

Both sides are feeling the ‘deal heat’

youtu.be/CQD7MvhD3sI

The majority of Americans believe that housing is still a good financial investment

The majority of Americans nevertheless believe in real estate as a good long term investment. It seems an odd thing to think, given that the average value of a home has dropped by almost a 3rd since 2006. Furthermore, more than a quarter of all homes are now worth less than the amount of money that is owed for them. Housing will eventually recover its value, but it may take a while.

Housing confidence in Americans

The majority of Americans are confident in real estate investments even with the economic downturn, a survey noted. Reuters states that 81 percent of Americans thought that a long term financial investment in real estate was a good idea according to the Pew Research Center. The Social and Demographic Trends project, as part of the Pew Research Center, surveyed over 2,000 adults asking if a home was the best long term investment. 44 percent said that they “somewhat agreed” while 37 percent said they “strongly agreed” with the statement. About 23 percent of individuals said that if they could go back and do it again, they wouldn’t have purchased their home. Still, most people believe homes will recover in three years.

Several hopeful

Realtors, according to MSNBC, are hoping that sales pick up during the spring and summer of 2011 and the current trend of slowing sales is reversed. The number of home sales and values may end up staying down though which realtors and housing industry analysts are worried about considering the amount of underwater mortgages. The National Association of Realtors has high hopes. It thinks that this year alone there could be a 7.4 percent increase in home sales. One of the biggest grievances from the housing industry has been that lenders are being too stingy, and standing in the way of the recovery that would benefit them by being too conservative with loan capital.

Skeptics created

The real estate industry is in a hard place right now. The American Dream is danger due to this. Robert Shiller, Case-Shiller Index co-founder, was quoted in a USA Today article that said security and lifestyle reasons are the only ones that individuals have to buy a home. There was another economist that talked about the return on a home. Usually, the return is around 6 percent. A lot of people may not get much of a return at all too considering depressed prices and fees.

Articles cited

Reuters

reuters.com/article/2011/04/12/us-usa-housing-survey-idUSTRE73B0T220110412

MSNBC

msnbc.msn.com/id/42521765/ns/business-real_estate/

USA Today

usatoday.com/money/economy/housing/2011-03-20-home-ownership.htm

Transocean safety bonuses go to catastrophe victims

The Gulf oil leak cost lives and billions of dollars and for that Transocean execs received safety bonuses for 2010. Transocean’s Deepwater Horizon oil rig rests on the bottom of the Gulf, but the business said it set records for safety in 2010. The bonuses did not go over well with the public or the government and Transocean backpedaled by promising to give some of the money to a disaster victim charity. Post resource – Transocean execs donate safety bonus after firestorm of criticism by MoneyBlogNewz.

Safest year for Transocean in 2010

Transocean decided that there was a problem with safety in 2009 when four employees were killed on the job. This meant all executive bonuses were withheld “to underscore the company’s commitment to safety.” Safety last year was really good though, according to Transocean. This is why execs were given bonuses on April 2 for safety. There were 200 million gallons of oil put, for 86 days, into the Gulf of Mexico while 11 individuals were killed at the Transocean Deepwater Horizon oil rig because of an explosion. Still, Transocean said the bonuses were deserved. There were rationalized: “Notwithstanding the tragic loss of life in the Gulf of Mexico, we achieved an exemplary statistical safety record.” They used their total rate of incidents and severity to say, “we recorded the best year in safety performance in our company’s history.” To calculate safety bonuses, Transocean factors the rate of accidents per 200,000 employee ! hrs with a number that rates the severity of the accidents. The 2010 Gulf oil leak disaster was not that bad for Transocean’s numbers. Evidently there was still a 4 percent drop in the rate of accidents.

Transocean negligence discussed

A few days after Transocean declared the safety bonuses, Interior Secretary Ken Salazar was in Mexico City with members of the presidential commission that investigated the British Petroleum oil leak to discuss offshore drilling regulation with Mexican authorities. The 2010 Gulf oil spill may have been avoided. This was announced by the oil spill commission in January. The disaster occurred because of negligence and errors by Transocean, Halliburton and BP. Because of these three corporations, including Transocean, “the greatest season of pain” in deepwater drilling occurred last year. William K. Reilly, co-chairman of commission, called the Transocean bonuses “embarrassing.” To offset the PR destruction, Transocean issued an apology Monday for “insensitive” wording in the securities filing about the bonuses. Transocean said the top executives are donating bonuses on Tues.

Executives keep most of their bonuses

According to the securities filing, safety accounted for 25 percent of Transocean’s 2010 executive bonuses. The bonuses were at $898,282 for the top five executives. That is about 45 percent of the performance bonuses the whole season will give. The Deepwater Horizon Memorial Fund will get the safety portion of that. That is over $250,000. More than $1.6 million was distributed to 11 families of workers killed which Transocean has funded. Transocean CEO Steven L. Newman is on the hook for about $93,500 of that money. Newman made $6.6 million last year in the form of salary, bonuses, incentives, stocks, options and allowances. The $650,000 in cash Newman and his team can be keeping on top of the stocks and options as “long term incentives” given away.

Articles cited

Wall Street Journal

online.wsj.com/article/SB10001424052748703806304576236661289767034.html

New York Times

nytimes.com/2011/04/05/business/05transocean.html?src=busln

Forbes

blogs.forbes.com/jeffmcmahon/2011/04/06/transocean-execs-keep-most-of-their-bonuses/

CNN

cnn.com/2011/US/04/05/gulf.spill.bonuses/index.html?npt=NP1

Twitter receives tax holiday windfall from City of San Francisco

The San Francisco Board of Supervisors has voted to extend a new employee payroll tax holiday to Twitter, reports the Los Angeles Times. Over six years, Twitter will enjoy a 1.5 percent payroll tax shelter. While San Francisco Mayor Edwin Lee sees this as an optimistic step toward keeping Twitter around and revitalizing sagging business districts within the city, critics view the ordinance as a major misstep toward allowing corporations to hold cities as economic hostages. Resource for this article – City of San Francisco grants Twitter a payroll tax break by MoneyBlogNewz.

The necessity that Twitter is as ‘rejuvenation’

Offering Twitter a payroll tax break was necessary to keep the social media giant in San Francisco for years to come, said Lee.

“This moment represents a real step forward in the effort to revitalize and transform the Central Market area,” he said. “Central Market and the Tenderloin have been burdened with high vacancies and blight for decades.”

Lee said that he appreciated Twitter's help in those districts to the San Francisco Chronicle although Twitter officials did not make a statement about the Wednesday tax exclusion. Those areas need some job creation. It would help out San Francisco a lot.

“There is great synergy between Twitter and the arts organizations and small retail businesses who are looking to expand in the area," said Lee. "The city can work collaboratively with businesses, community-based organizations, property owners and area residents to catalyze meaningful change.”

Companies will expect the tax holiday, critics claim

Over the next six years, the Twitter payroll tax break is projected to save the company about $22 million on its taxes, the Chronicle states. That’s $22 million that San Francisco needs, said city supervisor John Avalos.

“I don’t believe giving an exception to our payroll tax is the way to go,” he said. “I believe that businesses in San Francisco and around the country should be socially responsible. … If we allow a company to threaten to leave, then give them a tax break so they don’t, we’re setting a bad precedent."

Citations

Los Angeles Times

latimesblogs.latimes.com/technology/2011/04/twitter-gets-6-year-payroll-tax-break-from-san-francisco-board-of-supervisors.html

San Francisco Chronicles

sfgate.com/cgi-bin/article.cgi?f=/c/a/2011/04/05/BA7R1IQM9D.DTL

San Francisco Mayor's Office

sfmayor.org/index.aspx?page=330

Minnesota Gov. Tim Pawlenty on corporate tax holidays and offshoring

youtube.com/watch?v=MIRncAiu9Vw

CEOs give themselves large raises while wages go nowhere

CEO pay in the U.S. was up 12 percent last year, averaging about $9.6 million. Fourth quarter profits for United States businesses grew at a 30 percent rate, the most in several years of Sundays. CEOs have been seeing outsize pay increases while at the same time the rank and file has worked increasingly harder for the same amount of money. Resource for this article – CEO pay soars as flat middle class wages erode with inflation by MoneyBlogNewz.

CEO pay rises at the expense of U.S. workers

The pay of CEOs has increased during the recession, while the normal hard working American’s has declined. Even as employment is increasing, employee pay isn’t, however CEO pay is. Over 13 million people are currently looking for work, yet CEO’s are getting by on what they already have and increasing their own wallets. There seems to be little reason for a CEO to hire more employees. Last year, an average of 12 percent raises was given to CEO’s by economic bail out sectors. Yet, private sector pay rose by about 2 percent. Unemployment hovered at 8.8 percent in March. Most economists predict the jobless rate will continue to remain high for years.

CEO stock options on the rise

The richest CEO of 2010 was Phillipe Dauman of Viacom, making in only nine months $84.5 million. Ray Irani of Occidental Petroleum made $76.1 million past year, making him take the place of the second highest paid CEO. Larry Ellison of Oracle, the third-richest American with a net worth of $39.5 million according to Forbes, took home $70.1 million. Fueled by Wall Street, CEOs are raking in the biggest paydays since 2007 with stock opportunities. Many CEOs accepted stock opportunities during the recession when they held little value, knowing that huge paydays lied ahead when the market recovered. CEOs are now cashing in on their stock choices and making the millions they anticipated. There was well over $20 million made by several CEOs cashing in their stock options according to USA Today.

The increasing commodity costs impact middle class

The huge CEO pay increases are hard to swallow for the American middle-class, who has viewed wages stagnate for a generation. In the last five months, wages for U.S. hourly workers have not increased one penny, according to the Bureau of Labor Statistics. While United States workers who nevertheless have jobs are not getting raises, employers in creating nations are hiring new consumers who are pushing up demand and prices for food, oil, cotton and other commodities. The direction of costs of products and income are going in different direction. Gas costs alone eat up more than half the average worker’s wage increase. The average middle-class employee buys about 12 gallons of gas a week alone. People have reported that filling a gas tank is costing $40 more per month than it did past year. Yet the average weekly raise only increased by about $18.

Information from

New York Times

nytimes.com/2011/04/10/business/10comp.html?_r=2#38;ref=business

USA Today

usatoday.com/money/companies/management/2011-04-04-1Aoptions04_ST_N.htm

NPR

npr.org/2011/04/10/135272006/paychecks-cant-keep-up-with-rising-prices

Keep away from payday advance default with an Extended Payment Plan

Unforeseen circumstances sometimes lead consumers into being unable to repay their payday loans when they come due – it takes place. If the lender is a member of the Community Financial Services Association of America, you are able to ask for an Extended Payment Plan (EPP). These types of personal financing enable customers to repay their loans over a period of additional weeks even with the reason for default and free of additional charges.

EPP provisions vary by state and lender

Whether or not the lender is a member of CFSA will depend on the Extended Payment Plan rules. The state where the payday loan comes from may also have a say in the requirements. Sometimes states already have laws on consumer EPP. In this case, this will always win. In states where there isn’t already a specific law, members of the CFSA will follow these requirements. The loans have to be paid in four equal payments on the next four paydays for the consumer behind, eHow Money states. This is for any CFSA member. Borrowers will see that additional fees may apply if one of the EPP payments is missed.

Get an EPP from loan providers in CFSA

• Make sure the lender is a CFSA member. The CFSA’s blue oval logo should be on display in the payday lender’s office or on the site. A lender does not have to be a CFSA member to offer an Extended Payment Plan. This could nevertheless be accessible. Get the details by asking.
• The lender needs to be contacted. Do this prior to the due date end of business day. If you’re going to run into trouble repaying your payday loans, contact your lender just before close of business on the day right before your loan is due. You are able to go to the office if you have to. You may be able to contact the lender online too. The topic will be an Extended Payment Plan. Say this is what you need. You’ll then have to sign an agreement form that will specify the additional due dates. Check the extended payment plan out. Read it prior to you sign anything.

If the lender is a CFSA member and also you have not used an EPP in the past 12 months, however the lender refuses to offer you an EPP to help you stay away from default, you can file a complaint. The CFSA is available at cfsa@multistate.com. You might also consider calling 888-572-9329 (fax 703-684-1219) during Eastern time business hours. The CFSA is available with mail too. 515 King St., Suite 300, Alexandria, Va., 22314 is where you will send your complaint.

Citations

CFSA Consumer Complaint Form

cfsaa.com/cfsa-member-best-practices/how-to-file-a-customer-complaint.aspx

CFSA

cfsaa.com/cfsa-member-best-practices/what-is-an-extended-payment-plan.aspx

eHow

ehow.com/how_5906522_extended-can_t-pay-payday-loan.html

Consumer must be on alert after Epsilon database hack

The email market messaging firm Epsilon was hacked by hackers hacking its database. Millions of consumer names and emails were stolen. The Epsilon database includes millions of consumers of banks with credit cards, also as those of big retailers. Phishing attacks are expected to be the inevitable result of the Epsilon data base hack, and the company’s clients began warning their consumers Monday. Source for this article – Epsilon database hack exposes millions to phishing attacks by MoneyBlogNewz.

Epsilon clients hit by database hack

There were millions of emails and names stolen in the database hack at Epsilon. This could make history with how large it was. Friday, Epsilon declared that consumer files were hacked meaning email addresses and other information at sites might have been stolen as Epsilon sends over 40 billion marketing emails for 2,500 businesses yearly.

This hurt at least a dozen corporations. Banks were affected by this including J.P. Morgan Chase, Citigroup, U.S. Bancorp, Barclays Bank and Capital One. Consumers have to watch for phishing scams in the future. Watch out if you have been at other businesses as well. These will include Kroger, Walgreens, TiVo, Best Buy and HSN. The hacker may have also stolen student email addresses from The College Board, an organization that oversees SATs in the U.S. for about 5,900 colleges and universities.

Knowing if you are in a con

Spam is more than likely the goal of all the email addresses and names stolen out of the Epsilon database. This data security breach could make “phishing” attacks more effective because cyber-criminals can target actual account holders with a bank or retailer. The phishing email tries to trick them into logging in at a fraudulent site created to look like the real site, which captures the login information and gives hackers access to the account. The hacker can find more information on Facebook about a person after a name and email address is found. This will make the email seem real. Phishing scams often ask customers to update charge card information or urgently warn that if a response isn’t really received the account can be closed. Sometimes the phishing scam will say the account is compromised. They will say information needs to be updated because of this.

Making history with this breach

Although Epsilon said the database hack was limited to consumer names and email addresses, the business hasn’t yet made clear how several consumers or students have been exposed. Epsilon clients already mentioned were not the only ones at risk. AstraZeneca, Kraft Foods, Hilton Hotels and Verizon Communications might also be at risk. Internet security analysts believe the Epsilon database hack might surpass the Heartland Payment Systems hack, currently recognized as the biggest identity-theft incident in United States history. After stealing over 40 million payment card numbers in the Heartland Payment Systems hack, Albert Gonzalez got 20 years in prison as a sentence.

Citations

Associated Press

finance.yahoo.com/news/Banks-creditcard-issuers-warn-apf-754015157.html?x=0&sec=topStories&pos=main&asset=&ccode=

MSN Money

money.msn.com/identity-theft/news.aspx?feed=OBR&date=20110403&id=13261200

Computer world

computerworld.com/s/article/print/9215443/Update_Bank_customers_warned_after_breach_at_Epsilon_marketing_firm?taxonomyName=Security&taxonomyId=17

Microsoft

microsoft.com/security/online-privacy/phishing-symptoms.aspx

Need for same day loans is tremendous, FDIC states

According to FDIC chair Sheila Bair, personal loans are in "tremendous demand" in the U.S. This means small-dollar loans are attractive to consumers and to mainstream financial institutions like banks and credit unions. Findings in a recent Government Accountability Office report indicate that banks have tried to meet the demand, however failed miserably. Post resource – Demand for same day loans is tremendous, FDIC says by MoneyBlogNewz.

Payday advance alternatives – and the banks that can’t deliver them

same day personal loans from a small lending outlet and same day loans from banks and credit unions will be entirely different due to the fees and terms that are required. The GAO suggest that the Dodd-Frank Act and other FDIC changes in recent months may increase traditional financial institutions’ willingness to offer same day loans, but the results may not be what banks expect:

“Recent statutory and regulatory changes and FDIC initiatives may encourage more institutions to offer small-dollar loan alternatives to payday loans or expand their availability, but many consumers may still chose to use payday loans for their wide availability and relative lack of eligibility,” says the GAO report.

Banks and credit unions could not do lots of payday cash advance alternatives without subsidies from either the government or charitable organizations in accordance with a two-year FDIC program. The consumer base for personal loans was excluded in the needs for underwriting also.

Use payday loan without concern of losing a job

Just because you get a same day loan does not mean that your financial reputation is ruined. The GAO report proved this. A screening process is done, including financial history, for all applicants of Federal agencies including the Transportation Security Administration, the Federal Bureau of Investigations and the Department of Homeland Security. There are financial evaluation tools for instance credit states used.

The screening process was done to hire for high security positions, explained the Government Accountability Office. Whether or not a short term installment loan was used didn’t factor into that. The presence of risky patterns of financial behavior is essential, however, which underscores the important of financial responsibility – for government employees and customers in general. If banks and credit unions could ever free themselves from the policy maze and judge same day loan applicants over a more broad range of financial responsibility, perhaps the institutions could sell same day personal loans directly to consumers.

Citations

Community Financial Services Association of America

cfsaa.com/about-the-payday-industry/myth-vs.-reality.aspx

Government Accountability Office

gao.gov/highlights/d11147high.pdf

Don’t live beyond your means, even with payday loans

youtube.com/watch?v=KjZBOCAgR64

Patent reform bill seeks to streamline authorization, spur job creation

The U.S. Patent and Trade Office are outdated, inefficient and overwhelmed by technological evolution. After kicking the can down the road again and again, Congress may be about to make meaningful changes to a United States patent system in stasis since 1952. More innovation, more patent office money and more jobs are benefits touted by supporters of patent reform. Post resource – Patent reform bill aims to streamline approval, spur job creation by MoneyBlogNewz.

Patent reform: “millions of jobs lying in wait”

It was clear that Senate was happy to pass the patent reform bill earlier this month. It was voted 95 to 5 to pass. The patent reform bill is being debated in House this week though. The House will probably not like the Senate version of the patent reform bill very much. All of the lawmakers agree a patent reform bill is necessary; the way to go about that is argued on quite a bit. An average three year wait for approval is now standard while there’s a backlog of over 700,000 patent applications due to the six decades of technology advancements while the United States Patent and Trade Office has stayed the same. The bill would make the wait time go down to a year so that "millions of jobs lying in wait" might be resolved quicker according to USPTO director David Kappos. Kappos gave a presentation Wednesday on Intellectual Property to the House Subcommittee.

Additional patent reform provisions to consider

Each year the USPTO accepts about 500,000 patent applications. Congress sets the USPTO spending budget, determines the fees it can charge and spends some of the revenue on programs unrelated to patent approval. Probably the most significant change in patent reform would allow the patent office to create its own fee structure and keep all the money. Kappos said the USPTO would have an extra $300 million a year to hire more staff and invest in a state-of-the-art patent review and approval system. Right now, litigation looks at commercially viable patents that a 3rd party tries to get invalidated which could be done by the USPTO instead keeping patent disputes out of courts. Probably the most controversial aspect of patent reform may be changing the United States patent system from first-to-invent to first-to-file.

Benefit not for small investors

The first-to-file provision in patent reform has generated the most opposition so far. Small inventors are unable to file patent applications as easy as large corporations. This can be a concern many against the U.S. Senate version have made known. Currently, a small inventor that proves it has beat a large competitor to advancement gets the patent, regardless of whether the large business filed first. The bill’s opponents also believe the 3rd party review is just adversarial litigation by another name that will force smaller inventors to give up on their innovations due to the cost. Almost everything in the U.S. Senate bill is anticipated to be taken away except the part about increasing the USPTO budget, many expect.

Citations

CNN Money

money.cnn.com/2011/03/30/technology/patent_reform/index.htm?iid=HLM

bNET

bnet.com/blog/technology-business/senate-passes-a-patent-bill-but-don-8217t-hold-your-breath-for-actual-reform/9124

Washington Post

washingtonpost.com/blogs/post-tech/post/qanda-small-inventors-raise-patent-overhaul-concerns/2011/03/28/AFLJ9NpB_blog.html

Work-from-home ideas for the careful consumer

With a sluggish U.S. job industry continuing to spread grim tidings, many out-of-work Americans are scratching their heads for money-making suggestions. Thankfully, work from home tips are out there, particularly to those with some imagination. With a few tips to steer you in the right direction, working from home can be a true saving grace. Post resource – Work-from-home job ideas you can use by MoneyBlogNewz.

Why work from home

Gainful employment is something individuals need. It helps individuals pay for every little thing they need. However, by working at home or even telecommuting 50 percent of the time, United States workers and employers could save more than $750 billion per year, according to the Telework Research Network.

Lots of that money comes from less oil being used to pay for gas. There would be about $200 billion in annual labor saved as productivity would increase by 6.2 million man-years. Companies would reduce spending on real estate and utilities by at least the exact same amount each year, while highway maintenance costs and traffic accidents would drop considerably.

Best work from home option for you

Unless you occur to have a product that can be delivered without spending much money that everybody wants, selling on eBay cannot help several individuals. Work from home choices are always accessible on the internet for individuals to find. There may be some Craigslist frauds, however several of the choices are legitimate. It’s likely a scam if a business says you’ll get a work from your home career after paying a huge upfront fee, states Clark Howard. Make sure there aren’t too several red tape frauds. The work from home opportunities does not typically have red tape like this. Companies often will ask for background check fees. This doesn’t mean the company is not legitimate.

Opportunities to work from home

• AlpineAccess.com: After paying $45 for the required background check, AlpineAccess.com can match you with a virtual call center job. Positions typically involve consumer service work.
• ConvergysWorkatHome.com: In addition to consumer service telephone positions, Convergys can help you discover work from home human resources and billing service opportunities.
• Elance.com: This is a source for freelance talents. They have the flexibility of time. Elance contracts smaller businesses for graphic design, copywriting professionals, web design, programming and SEO. Bid for jobs, however watch out: Elance is so popular that unless you are a highly experienced, award-winning professional, you may have to bid lower than you are comfortable in order to secure work.
• LiveOps.com: Want to work from home as a virtual call center agent for a Fortune 200 business? You are more likely to get the career at LiveOps.com with the $175 extensive background check over the $50 check. You’ll need a dedicated land phone line for LiveOps.com.

Work at home scams happen

Check with the Federal Trade Commission and Better Business Bureau websites for advice on how to spot work from your home rip-offs. It can conserve you time, money and big headaches.

Information from

Better Business Bureau

bbb.org/Alerts/article.asp?ID=436

Clark Howard

clarkhoward.com/news/employment-military/work-home-guide/nFZH/

Dr. Phil

drphil.com/articles/article/494

Federal Trade Commission

ftc.gov/bcp/menus/consumer/invest/workhome.shtm

John Tesh has everything you need to work from home

youtube.com/watch?v=RLSvN6f-nvw

banks cutting debit card rewards into extinction

Financial reform is starting to prove fairly costly. banks are cutting debit card reward programs at an increasing rate. Financial institutions have to be fairer about fees thanks to financial reform laws, however the cost may be that consumers have to lose a little convenience. Legislators are starting to debate whether financial reform is too costly to keep on the books. Source for this article – More banks ending debit card rewards by MoneyBlogNewz.

Giving up consumer advantages for interchange fee cap

To be able to complete debit card transactions, merchants have to pay interchange fees, or "swipe fees," which banks would lose money on with the proposed cap leading them to try to find other ways to make money. There have been fewer free checking and debit card programs available. JP Morgan Chase ended its debit card rewards program and additional are following suit, in accordance with CNN. Wells Fargo subsidiary Wachovia has stopped offering debit advantages to new customers, and Wells Fargo will do likewise on April 15. Citibank recently disclosed that the bank is "in the process of evaluating potential changes," which means it is likely going to cut debit advantages programs for customers as well.

Getting financial reform is costing Additional than anticipated

USA Today states the Government Accountability Office estimated a $1 billion per year price tag on the financial reform bill or Dodd Frank Act. The Consumer Financial Protection Bureau is a whole new agency. There has been lots of arguing amongst lawmakers on the new agency. The Government Accountability Office estimated that federal agencies would have to hire Additional than 2,000 individuals to enforce the laws, including any the Consumer Financial Protection Bureau would be enforcing. Republicans believe the agency will have too much authority. This side of the argument has been openly expressed. Bloomberg states that the agency has been defended by Warren who is in charge of setting it up and claims that "Wall Street behemoths" are going to be targeted, not the Consumer Financial Protection Bureau. Both personal loans and charge cards will be monitored by the agency. It will be in charge of consumer financial products.

Credit could be lost

Stopping financial institutions from taking advantage of customers it he main goal of the financial reform laws. It may be a good idea. Still, financial institutions are already attempting to make up for losses. This has caused debit card advantages and frees checking to disappear. banks have to make up for losses. banks and loan companies will most likely have loan credit get tighter. Many debate this. It might not really be worth it in the end.

Information from

CNN

money.cnn.com/2011/03/25/pf/debit_rewards/index.htm

USA Today

usatoday.com/money/economy/2011-03-28-financial-overhaul.htm

Bloomberg

bloomberg.com/news/2011-03-25/warren-says-consumer-bureau-foes-should-look-at-bank-behemoths-.html

Fukushima disaster will drive up future nuclear power costs

Before the Fukushima disaster, nuclear power appeared on the brink of a comeback. However, the darker side of nuclear energy has been exposed by Japan’s struggle to contain radiation from the reactor damaged by the earthquake and tsunami. Expensive new safety measures that might be required because of the Fukushima disaster could make the expense of nuclear power prohibitive to investors as a primary source of energy in the future.

The financial truth about nuclear power

Increasing the use of nuclear power as a clean, reliable source of energy won the support of 62 percent of the public in a 2010 Gallup poll. The Obama administration announced plans to provide $54.2 billion in loan guarantees for the construction of nuclear power plants. The Fukushima disaster was not the reason why it was unlikely that nuclear reactors would be built in the U.S. Mark Cooper of the Institute for Energy and the Environment at Vermont Law School explained it was already unlikely. Cooper said the United States nuclear industry was a bubble that was going to burst just like any. This was said in Ottawa, Canada, at a presentation at the House of Commons. In 2001, he said, the bubble started. Nuclear energy was given loan guarantees in billions of dollars by the Bush administration. In 2008, many were upset about the nuclear industry. It was not doing also as several hoped it would. The recession, cheap natural gas and growing sources for clean energy alte! rnatives effectively finished it off.

Paying more for nuclear power

The Fukushima disaster has many individuals worried. It might cost more money to build a new reactor. After the 1979 Three Mile Island accident in Pennsylvania, construction costs for nuclear reactors rose 95 percent, according to Cooper’s research. This caused a huge increase in electricity costs. About 40 percent more was being paid for it. Construction costs went up 89 percent causing electricity to rise 42 percent in 1986 after the Ukraine Chernobyl disaster. Construction costs for nuclear reactors skyrocketed due to design changes required to address safety concerns. The Nuclear Regulatory Commission has already assembled a task force to investigate the design changes required for planned nuclear plants in the United States, depending on lessons learned from Fukushima.

Risking it’s asking too much of investors

Now that the Fukushima incident has occurred, investors are worried about where they put their money. Rather than invest in nuclear power plants, they’re more likely to put money into clean energy alternatives such as solar, wind and natural gas. It also might affect utilities. The corporations don’t want the nuclear plant risk. Sometimes you don’t want to pay much for energy. If this is the only consideration, nuclear energy makes probably the most sense. The cost to clean up a nuclear accident aside, it is cheaper to do most other choices. Onshore wind farms are 35 percent cheaper than nuclear power plant building. In the future, choice sources will become increasingly capable of helping meet the world’s energy needs without the financial and ecological costs of nuclear power. As an investor, it makes more sense to do a clean energy option. It can be more lucrative for probably the most part.

Citations

Reuters

reuters.com/article/2011/03/25/idUS423443138820110325

Fast Company

fastcompany.com/1742619/what-are-the-economics-of-nuclear-power-after-fukishima

The National

thenational.ae/lifestyle/personal-finance/japans-nuclear-woes-add-pressure-to-invest-in-green-energy