Thursday, December 30, 2010

foreclosure search


Exclusive: Huckabee Working With Scam Artist Notorious For Targeting Foreclosure Victims


Fox News personality and former Gov. Mike Huckabee (R-AR) recently began appearing in television commercials calling for viewers to dial a 1-800 number to sign a repeal petition against health reform called “Repeal It Now.” The ad, a “project of Restore America’s Voice” (RAV), a political action committee run by Huckabee’s friend Ken Hoagland, also directs viewers to a website that solicits donations. “Well now, we’ll do our spanking on the Congress,” says a cheerful Huckabee before claiming that Americans will “rule” again if the petitioned is signed.


Huckabee, who has a history of using his ubiquitous media presence to fundraise for political groups benefiting himself and his family, is again associating with a shady political venture. ThinkProgress has learned that Huckabee is working with a firm notorious for defrauding families facing foreclosure with false promises and predatory fees.


According to disclosures filed with the FEC, RAV’s campaign is managed by a firm called the 949 Media Group. 949 has been paid tens of thousands of dollars to set up RAV’s website and Google search optimization, and receives a regular commission of $10,000 for related media work from RAV. ThinkProgress spoke to a representative from RAV, who told us that 949 is run by an individual named Derek Oberholtzer. According to the representative, Oberholtzer has worked with RAV since the PAC formed in October.


Oberholtzer is well known as a scam artist who has used a myriad of tricks to defraud people out of their money. In addition to 949 Media Group, he started a number of companies, including “Apply 2 Save” (A2S) and Giant Media Works. Consumer report websites are rife with complaints about Oberholtzer’s odious business practices. In one scheme, Oberholtzer paid for radio and other advertisements telling distressed homeowners to contact his company A2S to pay a flat $595 fee to receive assistance in renegotiating their loans or to block a bank foreclosure. The Federal Trade Commission has prosecuted Oberholtzer for deceptive practices. In numerous cases, Oberholtzer took the $595 payment, and never did anything to stop a foreclosure or even contact the mortgage company in question. In many instances he continued billing his customers further fees totaling nearly $1,000 without lifting a finger to actually renegotiate their mortgage or halt a foreclosure, as his “Apply 2 Save” company promised.


On message boards discussing mortgage fraud, story after story details A2S’s trickery. There are heartbreaking tales of families spending their last savings on a lifeline promised by Oberholtzer’s company — only to be defrauded and forced out of their homes.


After receiving over 150 complaints about Oberholtzer’s companies charging up-front fees of over $1,500 without delivering on any foreclosure assistance, the Idaho attorney general banned Oberholtzer from engaging in the home loan business in his state. “Apply 2 Save operated for less than a year, signed up hundreds of clients, and took in millions of dollars,” said Lawrence Wasden, Idaho’s attorney general. “Yet few consumers ever received the mortgage modification services they purchased.” After a successful lawsuit, Wasden was able to win $45,000 from A2S to distribute to Oberholtzer’s victims. In Maryland, Oberholtzer has been served an order to cease and desist after the state commissioner of financial regulation received multiple complaints about Apply 2 Save’s fraudulent scheme. Eventually, A2S was forced into bankruptcy and a wave of legal action in Idaho spurred Oberholtzer to move to California. Oberholtzer also agreed to pay $4 million to settle a civil suit filed by the Federal Trade Commission.


Once he was driven out of the business of defrauding already desperate people facing foreclosure, Oberholtzer became active in Republican politics. The “Repeal It Now” campaign set up by Restore America’s Voice and 949 Media Group claims endorsements from Huckabee, Joe “The Plumber” Wurzelbacher, and somehow from deceased president Ronald Reagan. Olberholtzer also owns inactive domains called electmichele.org (presumably for Rep. Michele Bachmann (R-MN), repeality.biz, electme2012.com, and ravpac.info. The “Repeal It Now” campaign Huckabee stars in does nothing to accurately discuss health reform or address the health care crisis. It only exists to rake in donations and spread right-wing hysteria.


As ThinkProgress has reported, there are a number of right-wing consultants who appear to orchestrate campaigns simply to enrich themselves. For example, one of the well-paid leaders of the Tea Party Patriots made a career before the Tea Party movement concocting pyramid schemes with herbal nutrient products and the Tea Party Express is run by an infamous Republican consulting firm known for starting front groups to funnel donations back to themselves. Similarly, people like Sarah Palin and Newt Gingrich seem to be willing to say or do anything to earn a quick buck. However, Huckabee’s central role in legitimizing fraudsters like Oberholtzer might be a new low, even for the radical right.




Fox News personality and former Gov. Mike Huckabee (R-AR) recently began appearing in television commercials calling for viewers to dial a 1-800 number to sign a repeal petition against health reform called “Repeal It Now.” The ad, a “project of Restore America’s Voice” (RAV), a political action committee run by Huckabee’s friend Ken Hoagland, also directs viewers to a website that solicits donations [...]


According to disclosures filed with the FEC, RAV’s campaign is managed by a firm called the 949 Media Group. 949 has been paid tens of thousands of dollars to set up RAV’s website and Google search optimization, and receives a regular commission of $10,000 for related media work from RAV. ThinkProgress spoke to a representative from RAV, who told us that 949 is run by an individual named Derek Oberholtzer. According to the representative, Oberholtzer has worked with RAV since the PAC formed in October.


Oberholtzer is well known as scam artist who has used a myriad of tricks to defraud people out of their money. In addition to 949 Media Group, he started a number of companies, including “Apply 2 Save” (A2S) and Giant Media Works. Consumer report websites are rife with complaints about Oberholtzer’s odious business practices. In one scheme, Oberholtzer paid for radio and other advertisements telling distressed homeowners to contact his company A2S to pay a flat $595 fee to receive assistance in renegotiating their loans or to block a bank foreclosure. The Federal Trade Commission has prosecuted Oberholtzer for deceptive practices. In numerous cases, Oberholtzer took the $595 payment, and never did anything to stop a foreclosure or even contact the mortgage company in question. In many instances he continued billing his customers further fees totaling nearly $1,000 without lifting a finger to actually renegotiate their mortgage or halt a foreclosure, as his “Apply 2 Save” company promised.


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2010 <b>News</b> Quotes Quiz: Who Said It?

Here are 10 quotes that capture some of the spirit of 2010. Do you know who said each one?

<b>News</b> - Queen Elizabeth Welcomes First Great-Grandchild! - Moms <b>...</b>

Peter Phillips' wife Autumn gave birth to a baby girl Wednesday.

Small Business <b>News</b>: Small Biz Tech Primer

Technology is vastly changing the scope and reach of small business not only in the world of marketing but in all aspects of operating your venture. From tech.


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Tuesday, December 28, 2010

foreclosure auctions

As we've been saying, there are two different worlds from the perspective of the economy, and here's a look at the two different worlds from the eyes of the media.  - Ilene


Tinsel Tuesday – Market Decorations Make Us Merry


Courtesy of Phil of Phil's Stock World


I figured out how to get bullish!


Just read the Wall Street Journal.  On the front page we have "Nuclear Pact Adds Backers" above the fold along with a fluff piece on the weather in Europe. There are 3 other featured articles on the front page of the World’s most widely-read financial paper and one is a fluff piece on the Jimmy Stewart museum, one is on the obscure concept of betting people are going to die (very fun and interesting but "The World’s biggest financial paper"?) and the last is on the SEC looking into Mark Hurd’s exit from HP.  On the left is "What’s News" with about 30 summaries of articles in the paper so one would think you could look this over and have a really good idea of what’s going on in the World.


I see that "Spain said its regional governments are on track to meet their budget targets" and Dow component Boeing (who fell off yesterday) announced a "$1 Billion commercial satellite deal with the Mexican Government" and Blackstone is starting a $15Bn fund and TD is buying Chrysler Financial for $6.3Bn and (and this is a real XMas gift to Wall Street) "A Senate deal to fund the federal government until early March doesn’t include money to enact the health-care overhaul or stepped up regulation of Wall Street" and also that North Korea held their fire during a South Korean artillery drill.  Wow!  All seems right with the World, doesn’t it?


If I just read the WSJ, I find no reason to be bearish at all.  Certainly there is no mention of Spanish Bond Yields rising 37% in a month to 5.5% at today’s $4Bn bond auction. There is no mention of China’s Vice Chairman of National Development saying that China "needs to prepare for a long- term fight against inflation" or that oil imports into China are expected to fall off next year as their economy cools down. You would think the fact that BAC, JPM and four other lenders facing a suspension of foreclosure activity under court order in New Jersey would be a news story or perhaps some mention of the 29-year high in sugar prices would be of interest to investors along with the limit-up trading in cotton to record highs for no particular reason other than the fact that it’s a commodity and speculators will buy pretty much anything in the current frenzy. 


Gold is up for the third consecutive day, China’s money-market rates jumped to a 2-year high as banks raised their reserve ratios (this one didn’t even make the WSJ’s on-line Asia section, but you can real all about the World’s most expensive noodles!). Pimco said "Untenable Policies Will Lead to Eurozone Break-Up" according to the London Telegraph with Andrew Bosomworth stating: "Greece, Ireland and Portugal cannot get back on their feet without either their own currency or large transfer payments. The euro crisis is not over by a long shot. Market tensions will continue into 2011. The mechanism comes far too late."


Of course that’s nothing compared to Meredith Whitney’s dire warning of a financial meltdown driven by the collapse of US municipal bond auctions – a topic we discussed last Wednesday.  And Meredith is just full of holiday cheer compared to David Rosenberg, who puts a fair value on the S&P at no more than 1,120 and makes many excellent points that the market is now 10% overvalued and gives "10 Signs that the Holiday Retail Season is Going Worse Than People Realize" or John Hussman, who has certainly channeled his inner Phil with "Things I Believe" too!  


We are, then, getting to the root of my problem – I read too much! I wake up early every morning and read my various papers and web sites and, from that, I formulate a short-term and long-term investing premise. Perhaps I have forgotten what the Great Emancipator once said:


 


""A total of 78,955 U.S. properties received default notices (NOD, LIS) in November, a 21 percent decrease from the previous month and a 31 percent decrease from November 2009 — the 10th straight annual decrease in default notices. November’s default notices total was the lowest since July 2007. ""


 


DEFAULT NOTICES,  administrative 3 months mandatory paper trail, properly 'served' to meet stage one Legal Requirements...


 


November 2010 lowest since July 2007 thats 3 years and 5 months = 41 months 


so finally exhausted the continued monthly supply of about 80,000 defaulting type house buyers, 3.28 million defaulters


 


SINCE THE TAIL END CHARLIES finally 'evicted' is/has been at 95,000 / month...(why MORE..hum) ANYWAY, FOR SURE ALL 100% OF THE DEFAULTERS SEEM TO BE CONTINUING TO NOT PAY..remaining rent free during the judicial cycle from default to final eviction...


 


How Long on average ? 12-24 months per house rent-free? pure guess.. another guess is therrefore HOW MUCH 'TAKE HOME ADDITIONAL SPENDING MONEY IS IT @ 24 months and say $1500/month (very modest estimate, low end). and 3.28 million 'beneficiaries' over the 41 months thus far...


 


Well, a NICE SOLID $36,100 per household ....11.75 x 10 (6+4)  =>  11.75 tens of billions..=>.$117.50 BILLION boost to the USA economy, spread over 41 months, very very good...


 


Another pure guess is IF the US IRS will make an Administrative Final Decision regards the tax status of the UNPAIDFORGIVEN DEBTS on those mortgages...


 


You see, of course, that for every Bank Tax deduction for 'written off mortgage-debt', that same EQUAL amount of "DEBT FORGIVEN MUST BE TAXED", against the 'beneficiary...shall it be 'short term' or 'long term' windfall income?,


 


and under what special payment terms shall the IRS allow the money-due to be paid...probably the short term mode = 35% average for blue collar workers, spread over 2 years of the estimated $36,100 / household finally evicted, about $12,600 'back taxes due'


 


and for non-citizens, non-payment could result in deportation/refusals to renew VISAs and all THAT...right?


 


 



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&#39;Green River Killer&#39; Could Face New Murder Charge - AOL <b>News</b>

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&#39;Green River Killer&#39; Could Face New Murder Charge - AOL <b>News</b>

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&#39;Green River Killer&#39; Could Face New Murder Charge - AOL <b>News</b>

Related Searches: top 10 serial killers, green river murders, gary ridgeway, rebecca marrero 1982, capital punishment, the green river killer, green river cc auburn wa, crime news, crime reports, ...

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A former Oregon bank manager who fled after she was accused of stealing up to $1.2 million from customers has surrendered in California, the FBI said. The FBI had been seeking 37-year-old Shawna Leimomi Moore-Saia since Oct. 27, ...

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&#39;Green River Killer&#39; Could Face New Murder Charge - AOL <b>News</b>

Related Searches: top 10 serial killers, green river murders, gary ridgeway, rebecca marrero 1982, capital punishment, the green river killer, green river cc auburn wa, crime news, crime reports, ...

Fugitive Banker Surrenders in $1.2 Million Fraud Case - AOL <b>News</b>

A former Oregon bank manager who fled after she was accused of stealing up to $1.2 million from customers has surrendered in California, the FBI said. The FBI had been seeking 37-year-old Shawna Leimomi Moore-Saia since Oct. 27, ...

How Online <b>News</b> Evolved in 2010

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Thursday, December 23, 2010

foreclosure auctions

As we've been saying, there are two different worlds from the perspective of the economy, and here's a look at the two different worlds from the eyes of the media.  - Ilene


Tinsel Tuesday – Market Decorations Make Us Merry


Courtesy of Phil of Phil's Stock World


I figured out how to get bullish!


Just read the Wall Street Journal.  On the front page we have "Nuclear Pact Adds Backers" above the fold along with a fluff piece on the weather in Europe. There are 3 other featured articles on the front page of the World’s most widely-read financial paper and one is a fluff piece on the Jimmy Stewart museum, one is on the obscure concept of betting people are going to die (very fun and interesting but "The World’s biggest financial paper"?) and the last is on the SEC looking into Mark Hurd’s exit from HP.  On the left is "What’s News" with about 30 summaries of articles in the paper so one would think you could look this over and have a really good idea of what’s going on in the World.


I see that "Spain said its regional governments are on track to meet their budget targets" and Dow component Boeing (who fell off yesterday) announced a "$1 Billion commercial satellite deal with the Mexican Government" and Blackstone is starting a $15Bn fund and TD is buying Chrysler Financial for $6.3Bn and (and this is a real XMas gift to Wall Street) "A Senate deal to fund the federal government until early March doesn’t include money to enact the health-care overhaul or stepped up regulation of Wall Street" and also that North Korea held their fire during a South Korean artillery drill.  Wow!  All seems right with the World, doesn’t it?


If I just read the WSJ, I find no reason to be bearish at all.  Certainly there is no mention of Spanish Bond Yields rising 37% in a month to 5.5% at today’s $4Bn bond auction. There is no mention of China’s Vice Chairman of National Development saying that China "needs to prepare for a long- term fight against inflation" or that oil imports into China are expected to fall off next year as their economy cools down. You would think the fact that BAC, JPM and four other lenders facing a suspension of foreclosure activity under court order in New Jersey would be a news story or perhaps some mention of the 29-year high in sugar prices would be of interest to investors along with the limit-up trading in cotton to record highs for no particular reason other than the fact that it’s a commodity and speculators will buy pretty much anything in the current frenzy. 


Gold is up for the third consecutive day, China’s money-market rates jumped to a 2-year high as banks raised their reserve ratios (this one didn’t even make the WSJ’s on-line Asia section, but you can real all about the World’s most expensive noodles!). Pimco said "Untenable Policies Will Lead to Eurozone Break-Up" according to the London Telegraph with Andrew Bosomworth stating: "Greece, Ireland and Portugal cannot get back on their feet without either their own currency or large transfer payments. The euro crisis is not over by a long shot. Market tensions will continue into 2011. The mechanism comes far too late."


Of course that’s nothing compared to Meredith Whitney’s dire warning of a financial meltdown driven by the collapse of US municipal bond auctions – a topic we discussed last Wednesday.  And Meredith is just full of holiday cheer compared to David Rosenberg, who puts a fair value on the S&P at no more than 1,120 and makes many excellent points that the market is now 10% overvalued and gives "10 Signs that the Holiday Retail Season is Going Worse Than People Realize" or John Hussman, who has certainly channeled his inner Phil with "Things I Believe" too!  


We are, then, getting to the root of my problem – I read too much! I wake up early every morning and read my various papers and web sites and, from that, I formulate a short-term and long-term investing premise. Perhaps I have forgotten what the Great Emancipator once said:


 


""A total of 78,955 U.S. properties received default notices (NOD, LIS) in November, a 21 percent decrease from the previous month and a 31 percent decrease from November 2009 — the 10th straight annual decrease in default notices. November’s default notices total was the lowest since July 2007. ""


 


DEFAULT NOTICES,  administrative 3 months mandatory paper trail, properly 'served' to meet stage one Legal Requirements...


 


November 2010 lowest since July 2007 thats 3 years and 5 months = 41 months 


so finally exhausted the continued monthly supply of about 80,000 defaulting type house buyers, 3.28 million defaulters


 


SINCE THE TAIL END CHARLIES finally 'evicted' is/has been at 95,000 / month...(why MORE..hum) ANYWAY, FOR SURE ALL 100% OF THE DEFAULTERS SEEM TO BE CONTINUING TO NOT PAY..remaining rent free during the judicial cycle from default to final eviction...


 


How Long on average ? 12-24 months per house rent-free? pure guess.. another guess is therrefore HOW MUCH 'TAKE HOME ADDITIONAL SPENDING MONEY IS IT @ 24 months and say $1500/month (very modest estimate, low end). and 3.28 million 'beneficiaries' over the 41 months thus far...


 


Well, a NICE SOLID $36,100 per household ....11.75 x 10 (6+4)  =>  11.75 tens of billions..=>.$117.50 BILLION boost to the USA economy, spread over 41 months, very very good...


 


Another pure guess is IF the US IRS will make an Administrative Final Decision regards the tax status of the UNPAIDFORGIVEN DEBTS on those mortgages...


 


You see, of course, that for every Bank Tax deduction for 'written off mortgage-debt', that same EQUAL amount of "DEBT FORGIVEN MUST BE TAXED", against the 'beneficiary...shall it be 'short term' or 'long term' windfall income?,


 


and under what special payment terms shall the IRS allow the money-due to be paid...probably the short term mode = 35% average for blue collar workers, spread over 2 years of the estimated $36,100 / household finally evicted, about $12,600 'back taxes due'


 


and for non-citizens, non-payment could result in deportation/refusals to renew VISAs and all THAT...right?


 


 



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New York Daily <b>News</b>: Johnny Damon&#39;s Return To Yankees &#39;Unlikely <b>...</b>

According to Newsday, the Yankees have had "multiple conversations" with Johnny Damon about returning to the Bronx. However, a conflicting report from the NY Daily News labels the potential signing as "unlikely."

The Health Care Blog: Health 2.0 <b>News</b> launches

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New York Daily <b>News</b>: Johnny Damon&#39;s Return To Yankees &#39;Unlikely <b>...</b>

According to Newsday, the Yankees have had "multiple conversations" with Johnny Damon about returning to the Bronx. However, a conflicting report from the NY Daily News labels the potential signing as "unlikely."

The Health Care Blog: Health 2.0 <b>News</b> launches

So from today the all new Health 2.0 News will be actively tracking industry news, showing video of Health 2.0 events, and having editorials from important Health 2.0 leaders. Please head over to Health2News.com and join us! ...

Neandertal Relative Bred With Humans - Science <b>News</b>

Previously unknown Siberian group left fingerprints in some humans' DNA.


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New York Daily <b>News</b>: Johnny Damon&#39;s Return To Yankees &#39;Unlikely <b>...</b>

According to Newsday, the Yankees have had "multiple conversations" with Johnny Damon about returning to the Bronx. However, a conflicting report from the NY Daily News labels the potential signing as "unlikely."

The Health Care Blog: Health 2.0 <b>News</b> launches

So from today the all new Health 2.0 News will be actively tracking industry news, showing video of Health 2.0 events, and having editorials from important Health 2.0 leaders. Please head over to Health2News.com and join us! ...

Neandertal Relative Bred With Humans - Science <b>News</b>

Previously unknown Siberian group left fingerprints in some humans' DNA.


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New York Daily <b>News</b>: Johnny Damon&#39;s Return To Yankees &#39;Unlikely <b>...</b>

According to Newsday, the Yankees have had "multiple conversations" with Johnny Damon about returning to the Bronx. However, a conflicting report from the NY Daily News labels the potential signing as "unlikely."

The Health Care Blog: Health 2.0 <b>News</b> launches

So from today the all new Health 2.0 News will be actively tracking industry news, showing video of Health 2.0 events, and having editorials from important Health 2.0 leaders. Please head over to Health2News.com and join us! ...

Neandertal Relative Bred With Humans - Science <b>News</b>

Previously unknown Siberian group left fingerprints in some humans' DNA.


bench craft company scam

New York Daily <b>News</b>: Johnny Damon&#39;s Return To Yankees &#39;Unlikely <b>...</b>

According to Newsday, the Yankees have had "multiple conversations" with Johnny Damon about returning to the Bronx. However, a conflicting report from the NY Daily News labels the potential signing as "unlikely."

The Health Care Blog: Health 2.0 <b>News</b> launches

So from today the all new Health 2.0 News will be actively tracking industry news, showing video of Health 2.0 events, and having editorials from important Health 2.0 leaders. Please head over to Health2News.com and join us! ...

Neandertal Relative Bred With Humans - Science <b>News</b>

Previously unknown Siberian group left fingerprints in some humans' DNA.


bench craft company scam

New York Daily <b>News</b>: Johnny Damon&#39;s Return To Yankees &#39;Unlikely <b>...</b>

According to Newsday, the Yankees have had "multiple conversations" with Johnny Damon about returning to the Bronx. However, a conflicting report from the NY Daily News labels the potential signing as "unlikely."

The Health Care Blog: Health 2.0 <b>News</b> launches

So from today the all new Health 2.0 News will be actively tracking industry news, showing video of Health 2.0 events, and having editorials from important Health 2.0 leaders. Please head over to Health2News.com and join us! ...

Neandertal Relative Bred With Humans - Science <b>News</b>

Previously unknown Siberian group left fingerprints in some humans' DNA.


bench craft company scam

New York Daily <b>News</b>: Johnny Damon&#39;s Return To Yankees &#39;Unlikely <b>...</b>

According to Newsday, the Yankees have had "multiple conversations" with Johnny Damon about returning to the Bronx. However, a conflicting report from the NY Daily News labels the potential signing as "unlikely."

The Health Care Blog: Health 2.0 <b>News</b> launches

So from today the all new Health 2.0 News will be actively tracking industry news, showing video of Health 2.0 events, and having editorials from important Health 2.0 leaders. Please head over to Health2News.com and join us! ...

Neandertal Relative Bred With Humans - Science <b>News</b>

Previously unknown Siberian group left fingerprints in some humans' DNA.


bench craft company scam

New York Daily <b>News</b>: Johnny Damon&#39;s Return To Yankees &#39;Unlikely <b>...</b>

According to Newsday, the Yankees have had "multiple conversations" with Johnny Damon about returning to the Bronx. However, a conflicting report from the NY Daily News labels the potential signing as "unlikely."

The Health Care Blog: Health 2.0 <b>News</b> launches

So from today the all new Health 2.0 News will be actively tracking industry news, showing video of Health 2.0 events, and having editorials from important Health 2.0 leaders. Please head over to Health2News.com and join us! ...

Neandertal Relative Bred With Humans - Science <b>News</b>

Previously unknown Siberian group left fingerprints in some humans' DNA.


bench craft company scam

New York Daily <b>News</b>: Johnny Damon&#39;s Return To Yankees &#39;Unlikely <b>...</b>

According to Newsday, the Yankees have had "multiple conversations" with Johnny Damon about returning to the Bronx. However, a conflicting report from the NY Daily News labels the potential signing as "unlikely."

The Health Care Blog: Health 2.0 <b>News</b> launches

So from today the all new Health 2.0 News will be actively tracking industry news, showing video of Health 2.0 events, and having editorials from important Health 2.0 leaders. Please head over to Health2News.com and join us! ...

Neandertal Relative Bred With Humans - Science <b>News</b>

Previously unknown Siberian group left fingerprints in some humans' DNA.


bench craft company scam

New York Daily <b>News</b>: Johnny Damon&#39;s Return To Yankees &#39;Unlikely <b>...</b>

According to Newsday, the Yankees have had "multiple conversations" with Johnny Damon about returning to the Bronx. However, a conflicting report from the NY Daily News labels the potential signing as "unlikely."

The Health Care Blog: Health 2.0 <b>News</b> launches

So from today the all new Health 2.0 News will be actively tracking industry news, showing video of Health 2.0 events, and having editorials from important Health 2.0 leaders. Please head over to Health2News.com and join us! ...

Neandertal Relative Bred With Humans - Science <b>News</b>

Previously unknown Siberian group left fingerprints in some humans' DNA.


bench craft company scam

New York Daily <b>News</b>: Johnny Damon&#39;s Return To Yankees &#39;Unlikely <b>...</b>

According to Newsday, the Yankees have had "multiple conversations" with Johnny Damon about returning to the Bronx. However, a conflicting report from the NY Daily News labels the potential signing as "unlikely."

The Health Care Blog: Health 2.0 <b>News</b> launches

So from today the all new Health 2.0 News will be actively tracking industry news, showing video of Health 2.0 events, and having editorials from important Health 2.0 leaders. Please head over to Health2News.com and join us! ...

Neandertal Relative Bred With Humans - Science <b>News</b>

Previously unknown Siberian group left fingerprints in some humans' DNA.


bench craft company scam

Wednesday, December 8, 2010

People Making Money Net


Every so often Warren Buffett goes on TV and calls for higher taxes. This from the guy who’s paid, according to Forbes, perhaps less than $10 million in taxes, a tiny percentage of his $50 billion net worth. I say perhaps because, to the best of my knowledge, Buffett has never made his tax returns public.


Buffett is big-business, with his Berkshire Hathaway holding company stock selling (today) at $119,675.00 per share. Berkshire Hathaway has 1 million shares, which means that Buffett heads a company worth more that the gross national product of a few small Latin American countries.


How does Buffett manage to pay so little in taxes? For one, Buffett, who wants everybody to pay for big-spending big government, donates sizable amounts to tax-exempt philanthropies, such as the Gates Foundation. Forbes, again,

He donates appreciated Berkshire Hathaway stock — which costs him pennies on the dollar — to charity, and receives a fat, juicy tax deduction at the appreciated price without having to pay a capital gains tax on the appreciation. (And, note that the money actually sits in his own charitable organization.) He’s saving income taxes with the ordinary deduction so it’s essentially a tax shelter.


He builds up his massive net worth and doesn’t have to sell stock while deferring capital gains. When he does take a capital gain, it’s at a 15% rate, and he lives in a low-tax state.


Buffett has been known to complain that he paid taxes on the lower-rated capital gains rate rather than the higher income-tax rate. Well, play me the world’s smallest violin, Warren.



Mind you, I’m all for capitalism. America is the greatest country in the world because historically it afforded its citizens the ability to legally prosper and live in abundance. What I object to is billionaires who got their own aiming to prevent anyone else from attaining the same, or more, as they.


This latest time around Buffett was on ABC’s This Week, and told Christiane Amanpour that “People at the high end, people like myself, should be paying more taxes”,



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More App Store <b>News</b>: No Mac App Store Promo Codes, iOS/Mac App <b>...</b>

In addition to today's news that promo codes for applications in Apple's iOS App Store are now valid worldwide, several other items of interest related to the iOS and Mac App Stores have surfaced yest.

Fox <b>News</b> Reporter Warns: The Terrorists Are Watching Us Debate Taxes

Fox News White House correspondent James Rosen detailed the terrorism implications of a tax-cut debate last night, insisting that President Obama's jumbled "negotiate with hostage-takers" metaphor during yesterday's press conference ...

<b>News</b> - Britney Spears Tells Us About &quot;Best Birthday of My Life <b>...</b>

She and beau Jason Trawick escape a fake abuse scandal at a luxe resort in Mexico.


bench craft company scam

More App Store <b>News</b>: No Mac App Store Promo Codes, iOS/Mac App <b>...</b>

In addition to today's news that promo codes for applications in Apple's iOS App Store are now valid worldwide, several other items of interest related to the iOS and Mac App Stores have surfaced yest.

Fox <b>News</b> Reporter Warns: The Terrorists Are Watching Us Debate Taxes

Fox News White House correspondent James Rosen detailed the terrorism implications of a tax-cut debate last night, insisting that President Obama's jumbled "negotiate with hostage-takers" metaphor during yesterday's press conference ...

<b>News</b> - Britney Spears Tells Us About &quot;Best Birthday of My Life <b>...</b>

She and beau Jason Trawick escape a fake abuse scandal at a luxe resort in Mexico.


bench craft company scam

More App Store <b>News</b>: No Mac App Store Promo Codes, iOS/Mac App <b>...</b>

In addition to today's news that promo codes for applications in Apple's iOS App Store are now valid worldwide, several other items of interest related to the iOS and Mac App Stores have surfaced yest.

Fox <b>News</b> Reporter Warns: The Terrorists Are Watching Us Debate Taxes

Fox News White House correspondent James Rosen detailed the terrorism implications of a tax-cut debate last night, insisting that President Obama's jumbled "negotiate with hostage-takers" metaphor during yesterday's press conference ...

<b>News</b> - Britney Spears Tells Us About &quot;Best Birthday of My Life <b>...</b>

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bench craft company scam

More App Store <b>News</b>: No Mac App Store Promo Codes, iOS/Mac App <b>...</b>

In addition to today's news that promo codes for applications in Apple's iOS App Store are now valid worldwide, several other items of interest related to the iOS and Mac App Stores have surfaced yest.

Fox <b>News</b> Reporter Warns: The Terrorists Are Watching Us Debate Taxes

Fox News White House correspondent James Rosen detailed the terrorism implications of a tax-cut debate last night, insisting that President Obama's jumbled "negotiate with hostage-takers" metaphor during yesterday's press conference ...

<b>News</b> - Britney Spears Tells Us About &quot;Best Birthday of My Life <b>...</b>

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bench craft company scam

More App Store <b>News</b>: No Mac App Store Promo Codes, iOS/Mac App <b>...</b>

In addition to today's news that promo codes for applications in Apple's iOS App Store are now valid worldwide, several other items of interest related to the iOS and Mac App Stores have surfaced yest.

Fox <b>News</b> Reporter Warns: The Terrorists Are Watching Us Debate Taxes

Fox News White House correspondent James Rosen detailed the terrorism implications of a tax-cut debate last night, insisting that President Obama's jumbled "negotiate with hostage-takers" metaphor during yesterday's press conference ...

<b>News</b> - Britney Spears Tells Us About &quot;Best Birthday of My Life <b>...</b>

She and beau Jason Trawick escape a fake abuse scandal at a luxe resort in Mexico.


bench craft company scam

More App Store <b>News</b>: No Mac App Store Promo Codes, iOS/Mac App <b>...</b>

In addition to today's news that promo codes for applications in Apple's iOS App Store are now valid worldwide, several other items of interest related to the iOS and Mac App Stores have surfaced yest.

Fox <b>News</b> Reporter Warns: The Terrorists Are Watching Us Debate Taxes

Fox News White House correspondent James Rosen detailed the terrorism implications of a tax-cut debate last night, insisting that President Obama's jumbled "negotiate with hostage-takers" metaphor during yesterday's press conference ...

<b>News</b> - Britney Spears Tells Us About &quot;Best Birthday of My Life <b>...</b>

She and beau Jason Trawick escape a fake abuse scandal at a luxe resort in Mexico.


bench craft company scam

More App Store <b>News</b>: No Mac App Store Promo Codes, iOS/Mac App <b>...</b>

In addition to today's news that promo codes for applications in Apple's iOS App Store are now valid worldwide, several other items of interest related to the iOS and Mac App Stores have surfaced yest.

Fox <b>News</b> Reporter Warns: The Terrorists Are Watching Us Debate Taxes

Fox News White House correspondent James Rosen detailed the terrorism implications of a tax-cut debate last night, insisting that President Obama's jumbled "negotiate with hostage-takers" metaphor during yesterday's press conference ...

<b>News</b> - Britney Spears Tells Us About &quot;Best Birthday of My Life <b>...</b>

She and beau Jason Trawick escape a fake abuse scandal at a luxe resort in Mexico.


bench craft company scam

More App Store <b>News</b>: No Mac App Store Promo Codes, iOS/Mac App <b>...</b>

In addition to today's news that promo codes for applications in Apple's iOS App Store are now valid worldwide, several other items of interest related to the iOS and Mac App Stores have surfaced yest.

Fox <b>News</b> Reporter Warns: The Terrorists Are Watching Us Debate Taxes

Fox News White House correspondent James Rosen detailed the terrorism implications of a tax-cut debate last night, insisting that President Obama's jumbled "negotiate with hostage-takers" metaphor during yesterday's press conference ...

<b>News</b> - Britney Spears Tells Us About &quot;Best Birthday of My Life <b>...</b>

She and beau Jason Trawick escape a fake abuse scandal at a luxe resort in Mexico.


bench craft company scam

More App Store <b>News</b>: No Mac App Store Promo Codes, iOS/Mac App <b>...</b>

In addition to today's news that promo codes for applications in Apple's iOS App Store are now valid worldwide, several other items of interest related to the iOS and Mac App Stores have surfaced yest.

Fox <b>News</b> Reporter Warns: The Terrorists Are Watching Us Debate Taxes

Fox News White House correspondent James Rosen detailed the terrorism implications of a tax-cut debate last night, insisting that President Obama's jumbled "negotiate with hostage-takers" metaphor during yesterday's press conference ...

<b>News</b> - Britney Spears Tells Us About &quot;Best Birthday of My Life <b>...</b>

She and beau Jason Trawick escape a fake abuse scandal at a luxe resort in Mexico.


bench craft company scam

More App Store <b>News</b>: No Mac App Store Promo Codes, iOS/Mac App <b>...</b>

In addition to today's news that promo codes for applications in Apple's iOS App Store are now valid worldwide, several other items of interest related to the iOS and Mac App Stores have surfaced yest.

Fox <b>News</b> Reporter Warns: The Terrorists Are Watching Us Debate Taxes

Fox News White House correspondent James Rosen detailed the terrorism implications of a tax-cut debate last night, insisting that President Obama's jumbled "negotiate with hostage-takers" metaphor during yesterday's press conference ...

<b>News</b> - Britney Spears Tells Us About &quot;Best Birthday of My Life <b>...</b>

She and beau Jason Trawick escape a fake abuse scandal at a luxe resort in Mexico.


bench craft company scam

More App Store <b>News</b>: No Mac App Store Promo Codes, iOS/Mac App <b>...</b>

In addition to today's news that promo codes for applications in Apple's iOS App Store are now valid worldwide, several other items of interest related to the iOS and Mac App Stores have surfaced yest.

Fox <b>News</b> Reporter Warns: The Terrorists Are Watching Us Debate Taxes

Fox News White House correspondent James Rosen detailed the terrorism implications of a tax-cut debate last night, insisting that President Obama's jumbled "negotiate with hostage-takers" metaphor during yesterday's press conference ...

<b>News</b> - Britney Spears Tells Us About &quot;Best Birthday of My Life <b>...</b>

She and beau Jason Trawick escape a fake abuse scandal at a luxe resort in Mexico.


bench craft company scam

More App Store <b>News</b>: No Mac App Store Promo Codes, iOS/Mac App <b>...</b>

In addition to today's news that promo codes for applications in Apple's iOS App Store are now valid worldwide, several other items of interest related to the iOS and Mac App Stores have surfaced yest.

Fox <b>News</b> Reporter Warns: The Terrorists Are Watching Us Debate Taxes

Fox News White House correspondent James Rosen detailed the terrorism implications of a tax-cut debate last night, insisting that President Obama's jumbled "negotiate with hostage-takers" metaphor during yesterday's press conference ...

<b>News</b> - Britney Spears Tells Us About &quot;Best Birthday of My Life <b>...</b>

She and beau Jason Trawick escape a fake abuse scandal at a luxe resort in Mexico.


bench craft company scam

More App Store <b>News</b>: No Mac App Store Promo Codes, iOS/Mac App <b>...</b>

In addition to today's news that promo codes for applications in Apple's iOS App Store are now valid worldwide, several other items of interest related to the iOS and Mac App Stores have surfaced yest.

Fox <b>News</b> Reporter Warns: The Terrorists Are Watching Us Debate Taxes

Fox News White House correspondent James Rosen detailed the terrorism implications of a tax-cut debate last night, insisting that President Obama's jumbled "negotiate with hostage-takers" metaphor during yesterday's press conference ...

<b>News</b> - Britney Spears Tells Us About &quot;Best Birthday of My Life <b>...</b>

She and beau Jason Trawick escape a fake abuse scandal at a luxe resort in Mexico.


bench craft company scam

More App Store <b>News</b>: No Mac App Store Promo Codes, iOS/Mac App <b>...</b>

In addition to today's news that promo codes for applications in Apple's iOS App Store are now valid worldwide, several other items of interest related to the iOS and Mac App Stores have surfaced yest.

Fox <b>News</b> Reporter Warns: The Terrorists Are Watching Us Debate Taxes

Fox News White House correspondent James Rosen detailed the terrorism implications of a tax-cut debate last night, insisting that President Obama's jumbled "negotiate with hostage-takers" metaphor during yesterday's press conference ...

<b>News</b> - Britney Spears Tells Us About &quot;Best Birthday of My Life <b>...</b>

She and beau Jason Trawick escape a fake abuse scandal at a luxe resort in Mexico.


bench craft company scam

More App Store <b>News</b>: No Mac App Store Promo Codes, iOS/Mac App <b>...</b>

In addition to today's news that promo codes for applications in Apple's iOS App Store are now valid worldwide, several other items of interest related to the iOS and Mac App Stores have surfaced yest.

Fox <b>News</b> Reporter Warns: The Terrorists Are Watching Us Debate Taxes

Fox News White House correspondent James Rosen detailed the terrorism implications of a tax-cut debate last night, insisting that President Obama's jumbled "negotiate with hostage-takers" metaphor during yesterday's press conference ...

<b>News</b> - Britney Spears Tells Us About &quot;Best Birthday of My Life <b>...</b>

She and beau Jason Trawick escape a fake abuse scandal at a luxe resort in Mexico.


bench craft company scam

More App Store <b>News</b>: No Mac App Store Promo Codes, iOS/Mac App <b>...</b>

In addition to today's news that promo codes for applications in Apple's iOS App Store are now valid worldwide, several other items of interest related to the iOS and Mac App Stores have surfaced yest.

Fox <b>News</b> Reporter Warns: The Terrorists Are Watching Us Debate Taxes

Fox News White House correspondent James Rosen detailed the terrorism implications of a tax-cut debate last night, insisting that President Obama's jumbled "negotiate with hostage-takers" metaphor during yesterday's press conference ...

<b>News</b> - Britney Spears Tells Us About &quot;Best Birthday of My Life <b>...</b>

She and beau Jason Trawick escape a fake abuse scandal at a luxe resort in Mexico.


bench craft company scam

More App Store <b>News</b>: No Mac App Store Promo Codes, iOS/Mac App <b>...</b>

In addition to today's news that promo codes for applications in Apple's iOS App Store are now valid worldwide, several other items of interest related to the iOS and Mac App Stores have surfaced yest.

Fox <b>News</b> Reporter Warns: The Terrorists Are Watching Us Debate Taxes

Fox News White House correspondent James Rosen detailed the terrorism implications of a tax-cut debate last night, insisting that President Obama's jumbled "negotiate with hostage-takers" metaphor during yesterday's press conference ...

<b>News</b> - Britney Spears Tells Us About &quot;Best Birthday of My Life <b>...</b>

She and beau Jason Trawick escape a fake abuse scandal at a luxe resort in Mexico.


bench craft company scam

More App Store <b>News</b>: No Mac App Store Promo Codes, iOS/Mac App <b>...</b>

In addition to today's news that promo codes for applications in Apple's iOS App Store are now valid worldwide, several other items of interest related to the iOS and Mac App Stores have surfaced yest.

Fox <b>News</b> Reporter Warns: The Terrorists Are Watching Us Debate Taxes

Fox News White House correspondent James Rosen detailed the terrorism implications of a tax-cut debate last night, insisting that President Obama's jumbled "negotiate with hostage-takers" metaphor during yesterday's press conference ...

<b>News</b> - Britney Spears Tells Us About &quot;Best Birthday of My Life <b>...</b>

She and beau Jason Trawick escape a fake abuse scandal at a luxe resort in Mexico.


bench craft company scam

More App Store <b>News</b>: No Mac App Store Promo Codes, iOS/Mac App <b>...</b>

In addition to today's news that promo codes for applications in Apple's iOS App Store are now valid worldwide, several other items of interest related to the iOS and Mac App Stores have surfaced yest.

Fox <b>News</b> Reporter Warns: The Terrorists Are Watching Us Debate Taxes

Fox News White House correspondent James Rosen detailed the terrorism implications of a tax-cut debate last night, insisting that President Obama's jumbled "negotiate with hostage-takers" metaphor during yesterday's press conference ...

<b>News</b> - Britney Spears Tells Us About &quot;Best Birthday of My Life <b>...</b>

She and beau Jason Trawick escape a fake abuse scandal at a luxe resort in Mexico.


Tuesday, December 7, 2010

Making Money on Internet

Some weeks, there’s just too much to write about. This is one of those weeks. [Notice that I've fixed the grievous typo; no need to tell me about it again!] Not only is my brain percolating with my own ideas for articles, but the internet is abuzz with interesting stories about personal finance. Pity the blogger with a ton of material!


Rather than waste time with a long intro, I’m going to jump right in. Here are some recent articles you folks have sent me, or that I’ve found through my own web surfing:


Earlier this week, I sang the praises of index funds. If you’re interested in index funds, but don’t know where to start, you may want to consider ETFs, or exchange-traded funds. Nearly all ETFs are index funds, but they’re traded like stocks. Confused? Kiplinger’s has an informative article on how to make ETFs work for you. This isn’t just a light-weight breezy piece; it contains solid info.


Elsewhere, that lovable curmudgeon Warren Buffett is at it again. He has a talent for making both liberals and conservatives angry. In this case, Buffett says that the rich should be paying higher taxes. “Taxes for the lower and middle class and maybe even the upper middle class should even probably be cut further,” Buffett told ABC News. “But I think that people at the high end — people like myself — should be paying a lot more in taxes. We have it better than we’ve ever had it.”


Next, GRS reader Brendan Quinn sent me a link to presentation he recently gave to fellow students at Boston College. In his talk entitled Your Money: Buy Anything You Want, Guilt-Free, Brendan covers what he calls the three rules of personal finance:



  • Spend less than you earn.

  • Make the money you have work for you.

  • Prepare for the unexpected.


I think it’s great to see college students taking the initiative to teach each other about financial literacy. Great work, Brendan!


Last week, The New York Times published a story about Nick Martin, who inherited $14 million ($10 million after taxes) in 1998. “But as so often happens to those lucky enough to realize the American dream of sudden riches,” writes Geraldine Fabrikant, “the money slipped through the Martins’ fingers faster than they ever imagined.” I used to mock folks who squandered sudden riches like this (and there are countless similar tales), but lately I’m more sympathetic. As Flexo at Consumerism Commentary wrote about this story, “It’s easy to be judgmental. The internet is a place where armchair quarterbacks feel comfortable. Very few people know what would happen if the same situation — an unexpected windfall — occurs to them.”


Finally, here are two recent articles from USA Today. Cindy Perman has a long (and controversial) piece about Americans dying with debt. Many boomers have little saved for retirement. But more than that, the article reports that “nearly 40% of retired Americans said they’ve accumulated credit-card debt in their twilight years — and aren’t worried about paying it off in their lifetime”. In happier news, here’s a short piece about a homeless Arizona man who returned a backpack containing $3300 cash and a laptop. Now, that is an awesome story.


There are plenty of other great stories in my stack, but this is already one of the biggest “Spare Change” round-ups I’ve ever posted. We’ll call this good for now.







What drives an entrepreneur to start a business?  Is it solely about money?  Or is there something more?  I argue that often it is the  same creative drive that compels an artist to paint, a musician to compose, or a sculptor to look at a piece of rough marble and see an angel inside.  And those who understand the mind of the small business owner know why the proposed tax increase in 2011 will do more harm than good to the very people this economy needs most to create jobs.



On FBN’s Bulls & Bears recently Democratic strategist Jehmu Greene, the token liberal steak tossed into the wolf den of laissez faire commentators, uttered words to the effect that if we allow the Bush tax cuts to remain, the “rich” (I guess that’s me?) will not put the money into the economy but rather just squirrel it away “in their banks…It would not go into job creation or creating capital for small business.”


My first thought  was: “In my bank? Really?  How many businesses have you owned?” (To be fair she did co-found some internet venture called Urban Hang Suite which shuttered in 2003).  But then I reminded myself that, like Ms. Greene herself who has been in non-profit and/or government almost her entire career,  very few people in the  Obama administration, from the president on down, have ever started a business.  Thus they cannot understand what drives entrepreneurs to succeed.  They think it is just about take-home pay.


It’s said that small business owners work eighteen hour days for ourselves so we don’t have to work eight hours a day for someone else.  And often our income on a dollar/hour basis is less than the established firms we may have left to go on our own. Certainly this is generally true for those few scary years at the beginning when a myriad of mistakes are made and unanticipated events occur that prompt the principals to pay ourselves only after all other obligations have been met   So why do it?  Why take such risk?



First, the sense of pride of ownership and having built something from nothing is as strong in an entrepreneur as it is in the artists I alluded to earlier.  This is often a foreign concept to those who have spent their lives in secure positions in academia, government, or as line workers and middle managers in huge firms and thus do they discount our passion to create something while passing judgments like Ms. Greene’s.  Do not underestimate the fact that more than just money drives us to take such enormous personal risk.


Secondly, there is of course  that brass ring of selling the firm and walking away with a nice pay-out in hand.  Still, I know of very few successful entrepreneurs who upon a sale leave the world of business.  Rather they look for new ventures.  New challenges.  New job creating entities. Name an artist satisfied at just one piece.


Now, our company’s value is enhanced by increased business.  We have to grow in order to build our firm into a salable entity. And that usually means a larger workforce to generate more revenues.  It’s no coincidence that the targeted 2% of Americans making north of $250k create 28% of the nation’s new jobs.   The reason letting the tax breaks expire is an impediment to that growth is that many small business owners have their business and personal income intertwined. And as such a 5% tax on their personal income is a de facto 5% surcharge on their business.  For someone making $1mm a year, that is a $50k  hit to their business…two entry level employees.  In the end, we are employers, not charity wards.  We take the risks, it is our capital—and homes—at stake and so we will look to other ways to cut before reducing our own deserved compensation.  So in order to make up the shortfall and keep an owner level with 2010 all else being equal, these two employees may get let go.  Certainly an owner will put off hiring until he/she knows if they can afford new hands or not.  The new mantra for small business is “don’t hire one until you need two.”  Not the best recipe for getting the job creators excited about growing the payroll is it?


Before sitting down to write this I looked over my small company’s five-year projections.  Always we try to gage our fixed costs.  When we have some certainty on costs we can plan around them and ‘stress test’ to see how we survive in given revenue scenarios and prepare measures today in anticipation of any issues down the road.  Then we can better tell, for example, how much interest we can afford each month on a loan (assuming we can get one) to bring in more capital and expand the firm—and hire people we need to get us to the next level and that much closer to that holy grail of being bought out while satisfying our desire to build something special along the way.  But right now there is a big blank “N/A” on the spreadheet cells labeled “Federal Income Tax.”  Until I know what to plug in there, it will be hard to move forward.





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Hulu plans its own entertainment <b>news</b> show, but will anyone watch?

As Peter Kafka at MediaMemo reports, Hulu is currently casting for a presenter for the show which will be published daily, taking a 'Daily Show'-style satirical approach to the latest entertainment news. Hulu (backed by US TV giants NBC ...

Sarah Palin Passes On RNC - The Note

Sarah Palin isn't running…for one job at least. She doesn't appear to be a candidate to Chair the Republican National Committee. The Note, authored by ABC News' Rick Klein, covers politics, the White House, Congress, Democrats, ...

Light Can Generate Lift - Science <b>News</b>

Researchers create a lightfoil that can push small objects sideways.



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Hulu plans its own entertainment <b>news</b> show, but will anyone watch?

As Peter Kafka at MediaMemo reports, Hulu is currently casting for a presenter for the show which will be published daily, taking a 'Daily Show'-style satirical approach to the latest entertainment news. Hulu (backed by US TV giants NBC ...

Sarah Palin Passes On RNC - The Note

Sarah Palin isn't running…for one job at least. She doesn't appear to be a candidate to Chair the Republican National Committee. The Note, authored by ABC News' Rick Klein, covers politics, the White House, Congress, Democrats, ...

Light Can Generate Lift - Science <b>News</b>

Researchers create a lightfoil that can push small objects sideways.



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Hulu plans its own entertainment <b>news</b> show, but will anyone watch?

As Peter Kafka at MediaMemo reports, Hulu is currently casting for a presenter for the show which will be published daily, taking a 'Daily Show'-style satirical approach to the latest entertainment news. Hulu (backed by US TV giants NBC ...

Sarah Palin Passes On RNC - The Note

Sarah Palin isn't running…for one job at least. She doesn't appear to be a candidate to Chair the Republican National Committee. The Note, authored by ABC News' Rick Klein, covers politics, the White House, Congress, Democrats, ...

Light Can Generate Lift - Science <b>News</b>

Researchers create a lightfoil that can push small objects sideways.



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Hulu plans its own entertainment <b>news</b> show, but will anyone watch?

As Peter Kafka at MediaMemo reports, Hulu is currently casting for a presenter for the show which will be published daily, taking a 'Daily Show'-style satirical approach to the latest entertainment news. Hulu (backed by US TV giants NBC ...

Sarah Palin Passes On RNC - The Note

Sarah Palin isn't running…for one job at least. She doesn't appear to be a candidate to Chair the Republican National Committee. The Note, authored by ABC News' Rick Klein, covers politics, the White House, Congress, Democrats, ...

Light Can Generate Lift - Science <b>News</b>

Researchers create a lightfoil that can push small objects sideways.



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Hulu plans its own entertainment <b>news</b> show, but will anyone watch?

As Peter Kafka at MediaMemo reports, Hulu is currently casting for a presenter for the show which will be published daily, taking a 'Daily Show'-style satirical approach to the latest entertainment news. Hulu (backed by US TV giants NBC ...

Sarah Palin Passes On RNC - The Note

Sarah Palin isn't running…for one job at least. She doesn't appear to be a candidate to Chair the Republican National Committee. The Note, authored by ABC News' Rick Klein, covers politics, the White House, Congress, Democrats, ...

Light Can Generate Lift - Science <b>News</b>

Researchers create a lightfoil that can push small objects sideways.



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Some weeks, there’s just too much to write about. This is one of those weeks. [Notice that I've fixed the grievous typo; no need to tell me about it again!] Not only is my brain percolating with my own ideas for articles, but the internet is abuzz with interesting stories about personal finance. Pity the blogger with a ton of material!


Rather than waste time with a long intro, I’m going to jump right in. Here are some recent articles you folks have sent me, or that I’ve found through my own web surfing:


Earlier this week, I sang the praises of index funds. If you’re interested in index funds, but don’t know where to start, you may want to consider ETFs, or exchange-traded funds. Nearly all ETFs are index funds, but they’re traded like stocks. Confused? Kiplinger’s has an informative article on how to make ETFs work for you. This isn’t just a light-weight breezy piece; it contains solid info.


Elsewhere, that lovable curmudgeon Warren Buffett is at it again. He has a talent for making both liberals and conservatives angry. In this case, Buffett says that the rich should be paying higher taxes. “Taxes for the lower and middle class and maybe even the upper middle class should even probably be cut further,” Buffett told ABC News. “But I think that people at the high end — people like myself — should be paying a lot more in taxes. We have it better than we’ve ever had it.”


Next, GRS reader Brendan Quinn sent me a link to presentation he recently gave to fellow students at Boston College. In his talk entitled Your Money: Buy Anything You Want, Guilt-Free, Brendan covers what he calls the three rules of personal finance:



  • Spend less than you earn.

  • Make the money you have work for you.

  • Prepare for the unexpected.


I think it’s great to see college students taking the initiative to teach each other about financial literacy. Great work, Brendan!


Last week, The New York Times published a story about Nick Martin, who inherited $14 million ($10 million after taxes) in 1998. “But as so often happens to those lucky enough to realize the American dream of sudden riches,” writes Geraldine Fabrikant, “the money slipped through the Martins’ fingers faster than they ever imagined.” I used to mock folks who squandered sudden riches like this (and there are countless similar tales), but lately I’m more sympathetic. As Flexo at Consumerism Commentary wrote about this story, “It’s easy to be judgmental. The internet is a place where armchair quarterbacks feel comfortable. Very few people know what would happen if the same situation — an unexpected windfall — occurs to them.”


Finally, here are two recent articles from USA Today. Cindy Perman has a long (and controversial) piece about Americans dying with debt. Many boomers have little saved for retirement. But more than that, the article reports that “nearly 40% of retired Americans said they’ve accumulated credit-card debt in their twilight years — and aren’t worried about paying it off in their lifetime”. In happier news, here’s a short piece about a homeless Arizona man who returned a backpack containing $3300 cash and a laptop. Now, that is an awesome story.


There are plenty of other great stories in my stack, but this is already one of the biggest “Spare Change” round-ups I’ve ever posted. We’ll call this good for now.







What drives an entrepreneur to start a business?  Is it solely about money?  Or is there something more?  I argue that often it is the  same creative drive that compels an artist to paint, a musician to compose, or a sculptor to look at a piece of rough marble and see an angel inside.  And those who understand the mind of the small business owner know why the proposed tax increase in 2011 will do more harm than good to the very people this economy needs most to create jobs.



On FBN’s Bulls & Bears recently Democratic strategist Jehmu Greene, the token liberal steak tossed into the wolf den of laissez faire commentators, uttered words to the effect that if we allow the Bush tax cuts to remain, the “rich” (I guess that’s me?) will not put the money into the economy but rather just squirrel it away “in their banks…It would not go into job creation or creating capital for small business.”


My first thought  was: “In my bank? Really?  How many businesses have you owned?” (To be fair she did co-found some internet venture called Urban Hang Suite which shuttered in 2003).  But then I reminded myself that, like Ms. Greene herself who has been in non-profit and/or government almost her entire career,  very few people in the  Obama administration, from the president on down, have ever started a business.  Thus they cannot understand what drives entrepreneurs to succeed.  They think it is just about take-home pay.


It’s said that small business owners work eighteen hour days for ourselves so we don’t have to work eight hours a day for someone else.  And often our income on a dollar/hour basis is less than the established firms we may have left to go on our own. Certainly this is generally true for those few scary years at the beginning when a myriad of mistakes are made and unanticipated events occur that prompt the principals to pay ourselves only after all other obligations have been met   So why do it?  Why take such risk?



First, the sense of pride of ownership and having built something from nothing is as strong in an entrepreneur as it is in the artists I alluded to earlier.  This is often a foreign concept to those who have spent their lives in secure positions in academia, government, or as line workers and middle managers in huge firms and thus do they discount our passion to create something while passing judgments like Ms. Greene’s.  Do not underestimate the fact that more than just money drives us to take such enormous personal risk.


Secondly, there is of course  that brass ring of selling the firm and walking away with a nice pay-out in hand.  Still, I know of very few successful entrepreneurs who upon a sale leave the world of business.  Rather they look for new ventures.  New challenges.  New job creating entities. Name an artist satisfied at just one piece.


Now, our company’s value is enhanced by increased business.  We have to grow in order to build our firm into a salable entity. And that usually means a larger workforce to generate more revenues.  It’s no coincidence that the targeted 2% of Americans making north of $250k create 28% of the nation’s new jobs.   The reason letting the tax breaks expire is an impediment to that growth is that many small business owners have their business and personal income intertwined. And as such a 5% tax on their personal income is a de facto 5% surcharge on their business.  For someone making $1mm a year, that is a $50k  hit to their business…two entry level employees.  In the end, we are employers, not charity wards.  We take the risks, it is our capital—and homes—at stake and so we will look to other ways to cut before reducing our own deserved compensation.  So in order to make up the shortfall and keep an owner level with 2010 all else being equal, these two employees may get let go.  Certainly an owner will put off hiring until he/she knows if they can afford new hands or not.  The new mantra for small business is “don’t hire one until you need two.”  Not the best recipe for getting the job creators excited about growing the payroll is it?


Before sitting down to write this I looked over my small company’s five-year projections.  Always we try to gage our fixed costs.  When we have some certainty on costs we can plan around them and ‘stress test’ to see how we survive in given revenue scenarios and prepare measures today in anticipation of any issues down the road.  Then we can better tell, for example, how much interest we can afford each month on a loan (assuming we can get one) to bring in more capital and expand the firm—and hire people we need to get us to the next level and that much closer to that holy grail of being bought out while satisfying our desire to build something special along the way.  But right now there is a big blank “N/A” on the spreadheet cells labeled “Federal Income Tax.”  Until I know what to plug in there, it will be hard to move forward.





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Hulu plans its own entertainment <b>news</b> show, but will anyone watch?

As Peter Kafka at MediaMemo reports, Hulu is currently casting for a presenter for the show which will be published daily, taking a 'Daily Show'-style satirical approach to the latest entertainment news. Hulu (backed by US TV giants NBC ...

Sarah Palin Passes On RNC - The Note

Sarah Palin isn't running…for one job at least. She doesn't appear to be a candidate to Chair the Republican National Committee. The Note, authored by ABC News' Rick Klein, covers politics, the White House, Congress, Democrats, ...

Light Can Generate Lift - Science <b>News</b>

Researchers create a lightfoil that can push small objects sideways.



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Hulu plans its own entertainment <b>news</b> show, but will anyone watch?

As Peter Kafka at MediaMemo reports, Hulu is currently casting for a presenter for the show which will be published daily, taking a 'Daily Show'-style satirical approach to the latest entertainment news. Hulu (backed by US TV giants NBC ...

Sarah Palin Passes On RNC - The Note

Sarah Palin isn't running…for one job at least. She doesn't appear to be a candidate to Chair the Republican National Committee. The Note, authored by ABC News' Rick Klein, covers politics, the White House, Congress, Democrats, ...

Light Can Generate Lift - Science <b>News</b>

Researchers create a lightfoil that can push small objects sideways.



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Hulu plans its own entertainment <b>news</b> show, but will anyone watch?

As Peter Kafka at MediaMemo reports, Hulu is currently casting for a presenter for the show which will be published daily, taking a 'Daily Show'-style satirical approach to the latest entertainment news. Hulu (backed by US TV giants NBC ...

Sarah Palin Passes On RNC - The Note

Sarah Palin isn't running…for one job at least. She doesn't appear to be a candidate to Chair the Republican National Committee. The Note, authored by ABC News' Rick Klein, covers politics, the White House, Congress, Democrats, ...

Light Can Generate Lift - Science <b>News</b>

Researchers create a lightfoil that can push small objects sideways.



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Hulu plans its own entertainment <b>news</b> show, but will anyone watch?

As Peter Kafka at MediaMemo reports, Hulu is currently casting for a presenter for the show which will be published daily, taking a 'Daily Show'-style satirical approach to the latest entertainment news. Hulu (backed by US TV giants NBC ...

Sarah Palin Passes On RNC - The Note

Sarah Palin isn't running…for one job at least. She doesn't appear to be a candidate to Chair the Republican National Committee. The Note, authored by ABC News' Rick Klein, covers politics, the White House, Congress, Democrats, ...

Light Can Generate Lift - Science <b>News</b>

Researchers create a lightfoil that can push small objects sideways.



bench craft company rip off product

Hulu plans its own entertainment <b>news</b> show, but will anyone watch?

As Peter Kafka at MediaMemo reports, Hulu is currently casting for a presenter for the show which will be published daily, taking a 'Daily Show'-style satirical approach to the latest entertainment news. Hulu (backed by US TV giants NBC ...

Sarah Palin Passes On RNC - The Note

Sarah Palin isn't running…for one job at least. She doesn't appear to be a candidate to Chair the Republican National Committee. The Note, authored by ABC News' Rick Klein, covers politics, the White House, Congress, Democrats, ...

Light Can Generate Lift - Science <b>News</b>

Researchers create a lightfoil that can push small objects sideways.



bench craft company rip off product

Hulu plans its own entertainment <b>news</b> show, but will anyone watch?

As Peter Kafka at MediaMemo reports, Hulu is currently casting for a presenter for the show which will be published daily, taking a 'Daily Show'-style satirical approach to the latest entertainment news. Hulu (backed by US TV giants NBC ...

Sarah Palin Passes On RNC - The Note

Sarah Palin isn't running…for one job at least. She doesn't appear to be a candidate to Chair the Republican National Committee. The Note, authored by ABC News' Rick Klein, covers politics, the White House, Congress, Democrats, ...

Light Can Generate Lift - Science <b>News</b>

Researchers create a lightfoil that can push small objects sideways.



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Some weeks, there’s just too much to write about. This is one of those weeks. [Notice that I've fixed the grievous typo; no need to tell me about it again!] Not only is my brain percolating with my own ideas for articles, but the internet is abuzz with interesting stories about personal finance. Pity the blogger with a ton of material!


Rather than waste time with a long intro, I’m going to jump right in. Here are some recent articles you folks have sent me, or that I’ve found through my own web surfing:


Earlier this week, I sang the praises of index funds. If you’re interested in index funds, but don’t know where to start, you may want to consider ETFs, or exchange-traded funds. Nearly all ETFs are index funds, but they’re traded like stocks. Confused? Kiplinger’s has an informative article on how to make ETFs work for you. This isn’t just a light-weight breezy piece; it contains solid info.


Elsewhere, that lovable curmudgeon Warren Buffett is at it again. He has a talent for making both liberals and conservatives angry. In this case, Buffett says that the rich should be paying higher taxes. “Taxes for the lower and middle class and maybe even the upper middle class should even probably be cut further,” Buffett told ABC News. “But I think that people at the high end — people like myself — should be paying a lot more in taxes. We have it better than we’ve ever had it.”


Next, GRS reader Brendan Quinn sent me a link to presentation he recently gave to fellow students at Boston College. In his talk entitled Your Money: Buy Anything You Want, Guilt-Free, Brendan covers what he calls the three rules of personal finance:



  • Spend less than you earn.

  • Make the money you have work for you.

  • Prepare for the unexpected.


I think it’s great to see college students taking the initiative to teach each other about financial literacy. Great work, Brendan!


Last week, The New York Times published a story about Nick Martin, who inherited $14 million ($10 million after taxes) in 1998. “But as so often happens to those lucky enough to realize the American dream of sudden riches,” writes Geraldine Fabrikant, “the money slipped through the Martins’ fingers faster than they ever imagined.” I used to mock folks who squandered sudden riches like this (and there are countless similar tales), but lately I’m more sympathetic. As Flexo at Consumerism Commentary wrote about this story, “It’s easy to be judgmental. The internet is a place where armchair quarterbacks feel comfortable. Very few people know what would happen if the same situation — an unexpected windfall — occurs to them.”


Finally, here are two recent articles from USA Today. Cindy Perman has a long (and controversial) piece about Americans dying with debt. Many boomers have little saved for retirement. But more than that, the article reports that “nearly 40% of retired Americans said they’ve accumulated credit-card debt in their twilight years — and aren’t worried about paying it off in their lifetime”. In happier news, here’s a short piece about a homeless Arizona man who returned a backpack containing $3300 cash and a laptop. Now, that is an awesome story.


There are plenty of other great stories in my stack, but this is already one of the biggest “Spare Change” round-ups I’ve ever posted. We’ll call this good for now.







What drives an entrepreneur to start a business?  Is it solely about money?  Or is there something more?  I argue that often it is the  same creative drive that compels an artist to paint, a musician to compose, or a sculptor to look at a piece of rough marble and see an angel inside.  And those who understand the mind of the small business owner know why the proposed tax increase in 2011 will do more harm than good to the very people this economy needs most to create jobs.



On FBN’s Bulls & Bears recently Democratic strategist Jehmu Greene, the token liberal steak tossed into the wolf den of laissez faire commentators, uttered words to the effect that if we allow the Bush tax cuts to remain, the “rich” (I guess that’s me?) will not put the money into the economy but rather just squirrel it away “in their banks…It would not go into job creation or creating capital for small business.”


My first thought  was: “In my bank? Really?  How many businesses have you owned?” (To be fair she did co-found some internet venture called Urban Hang Suite which shuttered in 2003).  But then I reminded myself that, like Ms. Greene herself who has been in non-profit and/or government almost her entire career,  very few people in the  Obama administration, from the president on down, have ever started a business.  Thus they cannot understand what drives entrepreneurs to succeed.  They think it is just about take-home pay.


It’s said that small business owners work eighteen hour days for ourselves so we don’t have to work eight hours a day for someone else.  And often our income on a dollar/hour basis is less than the established firms we may have left to go on our own. Certainly this is generally true for those few scary years at the beginning when a myriad of mistakes are made and unanticipated events occur that prompt the principals to pay ourselves only after all other obligations have been met   So why do it?  Why take such risk?



First, the sense of pride of ownership and having built something from nothing is as strong in an entrepreneur as it is in the artists I alluded to earlier.  This is often a foreign concept to those who have spent their lives in secure positions in academia, government, or as line workers and middle managers in huge firms and thus do they discount our passion to create something while passing judgments like Ms. Greene’s.  Do not underestimate the fact that more than just money drives us to take such enormous personal risk.


Secondly, there is of course  that brass ring of selling the firm and walking away with a nice pay-out in hand.  Still, I know of very few successful entrepreneurs who upon a sale leave the world of business.  Rather they look for new ventures.  New challenges.  New job creating entities. Name an artist satisfied at just one piece.


Now, our company’s value is enhanced by increased business.  We have to grow in order to build our firm into a salable entity. And that usually means a larger workforce to generate more revenues.  It’s no coincidence that the targeted 2% of Americans making north of $250k create 28% of the nation’s new jobs.   The reason letting the tax breaks expire is an impediment to that growth is that many small business owners have their business and personal income intertwined. And as such a 5% tax on their personal income is a de facto 5% surcharge on their business.  For someone making $1mm a year, that is a $50k  hit to their business…two entry level employees.  In the end, we are employers, not charity wards.  We take the risks, it is our capital—and homes—at stake and so we will look to other ways to cut before reducing our own deserved compensation.  So in order to make up the shortfall and keep an owner level with 2010 all else being equal, these two employees may get let go.  Certainly an owner will put off hiring until he/she knows if they can afford new hands or not.  The new mantra for small business is “don’t hire one until you need two.”  Not the best recipe for getting the job creators excited about growing the payroll is it?


Before sitting down to write this I looked over my small company’s five-year projections.  Always we try to gage our fixed costs.  When we have some certainty on costs we can plan around them and ‘stress test’ to see how we survive in given revenue scenarios and prepare measures today in anticipation of any issues down the road.  Then we can better tell, for example, how much interest we can afford each month on a loan (assuming we can get one) to bring in more capital and expand the firm—and hire people we need to get us to the next level and that much closer to that holy grail of being bought out while satisfying our desire to build something special along the way.  But right now there is a big blank “N/A” on the spreadheet cells labeled “Federal Income Tax.”  Until I know what to plug in there, it will be hard to move forward.





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Hulu plans its own entertainment <b>news</b> show, but will anyone watch?

As Peter Kafka at MediaMemo reports, Hulu is currently casting for a presenter for the show which will be published daily, taking a 'Daily Show'-style satirical approach to the latest entertainment news. Hulu (backed by US TV giants NBC ...

Sarah Palin Passes On RNC - The Note

Sarah Palin isn't running…for one job at least. She doesn't appear to be a candidate to Chair the Republican National Committee. The Note, authored by ABC News' Rick Klein, covers politics, the White House, Congress, Democrats, ...

Light Can Generate Lift - Science <b>News</b>

Researchers create a lightfoil that can push small objects sideways.



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Hulu plans its own entertainment <b>news</b> show, but will anyone watch?

As Peter Kafka at MediaMemo reports, Hulu is currently casting for a presenter for the show which will be published daily, taking a 'Daily Show'-style satirical approach to the latest entertainment news. Hulu (backed by US TV giants NBC ...

Sarah Palin Passes On RNC - The Note

Sarah Palin isn't running…for one job at least. She doesn't appear to be a candidate to Chair the Republican National Committee. The Note, authored by ABC News' Rick Klein, covers politics, the White House, Congress, Democrats, ...

Light Can Generate Lift - Science <b>News</b>

Researchers create a lightfoil that can push small objects sideways.



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Hulu plans its own entertainment <b>news</b> show, but will anyone watch?

As Peter Kafka at MediaMemo reports, Hulu is currently casting for a presenter for the show which will be published daily, taking a 'Daily Show'-style satirical approach to the latest entertainment news. Hulu (backed by US TV giants NBC ...

Sarah Palin Passes On RNC - The Note

Sarah Palin isn't running…for one job at least. She doesn't appear to be a candidate to Chair the Republican National Committee. The Note, authored by ABC News' Rick Klein, covers politics, the White House, Congress, Democrats, ...

Light Can Generate Lift - Science <b>News</b>

Researchers create a lightfoil that can push small objects sideways.



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