| Foreclosures, bankruptcies on rise due to debt
When someone typically hears the word bankruptcy, images of a business deal gone wrong or a greedy CEO might come to mind. In reality, it can happen to your neighbors, friends or even family members who simply got in over their heads.
"It's not the end of the world, to the contrary. It is actually a new beginning. My clients are extremely thankful," Green said. "They didn't see how they were able to make ends meet before the bankruptcy. They were underwater with no hope."
As a lawyer with expertise in bankruptcy and divorce, Green said he has seen the number of Chapter 7s and house foreclosures increase over the last couple years. He attributes that to the current economy.
Common mistakes people do when they find themselves falling behind include taking out second mortgages, liquidating IRA or 401K money, and having to pay the penalties.
Vestar Investment Specialists appoints Malcolm Thomas
Thomas brings 19 years' experience in the bank and finance industry to the role. He has worked with Tower and Trust Bank Bay of Plenty, and spent 12 years as a private banker and investment adviser at the BNZ. The appointment was made by Peter Jones, founder and principal of Jones Financial Services, the specialist financial services company that was recently acquired by Vestar. Jones heads Vestar's offices in Rotorua, where Thomas is based. "With such high-level and extensive knowledge of the industry, Malcolm is the ideal addition to our team," Jones said. "He is interested in people first and foremost, which is an essential quality for a good investment adviser. They need to take the time to establish what the client's unique circumstances and goals are, and what they need their money to do for them, and then tailor a plan accordingly.
Lively jobs report fails to jolt stocks
Stocks barely budged in thin trading Monday, as many traders took an extra day off after the Easter holiday. Trading was closed in Europe. There was no delayed reaction to last Friday's strong report on U.S. job growth in March.
The Dow Jones industrial average added 8.94 points, to 12,569.14. Gains by McDonald's and Intel accounted for the Dow's advance. Altria Group and Exxon Mobil were the biggest Dow losers.
The broader Standard & Poor's 500 index posted a slim advance but the Nasdaq composite index and Russell 2000 index of small-company stocks declined slightly. There were more declining stocks than winners on the New York Stock Exchange and Nasdaq market.
Rumors of buyouts of public firms by private investors continued to lift stock prices.
Wednesday, March 21, 2007
JPMorgan Securities analyst Jamie Baker upgraded Orlando-based AirTran Holdings Inc. to "overweight" from "neutral," according to an Associated Press report. AirTran stock is now an attractive buy Baker said and he expects the company's fiscal earnings for 2007 to beat consensus estimates. AirTran is pursuing a hostile takeover of Oak Creek-based Midwest Air Group Inc.. The company is trying to purchase Midwest for $13.25 per share in cash and AirTran stock. But Baker said he believes AirTran's takeover attempt of Midwest is "doomed to fail," according to the AP report. Shares of AirTran stock rose 51 cents this morning in early morning trading today to $10.55 a share and shares of Midwest Air Group stock rose 44 cents in early morning trading today to $12.12 per share. .
SCI Real Estate buys San Antonio apartments from CWS Apartment
The Marquis at Quarry, a 224-unit multifamily property in Alamo Heights, Texas, has been sold to a Los Angeles real estate investor. The Class A apartment complex was built in 1994 and is only one of four multifamily communities in the Alamo Heights and Alamo Quarry submarkets. Apartments in this submarket historically have had occupancy rates in excess of 93 percent. .
Dubai Financial Market to launch online stock trading game
A total of 50 colleges and universities are participating in the 'Online Stock Game', which is organised by DFM to educate students about the intricacies of the stock market and develop their talent for investing. Students can take part in the game, and trade stocks and shares through the DFM's website during official trading hours. Every participant will have the opportunity to trade with a 'virtual' sum of up to AED 1 million. Players can then track their investments through the website and newspapers. Mubaraq Al Doosari, General Coordinator, DFM Stock Game, said: 'We are delighted to announce the launch of the fifth cycle of DFM's student stock game. The game reflects DFM's vision to interact with students and educate them about proper investing and how to build a healthy national economy.
PEAK Technologies Incorporates Voxware Software into SAP(R ...
LAWRENCEVILLE, N.J.—(BUSINESS WIRE)—April 9, 2007— Voxware, Inc. (Nasdaq: VOXW), a leading supplier of software for voice-driven logistics solutions, announced today that PEAK Technologies has selected Voxware, Inc. as its voice software partner. Voxware's open, standards-based software has enabled PEAK to integrate voice technology with SAP's Logistics Execution System modules.
PEAK Technologies' Solutions Development Director Kevin Franz said, "Voxware offers open, standards-based software that allows us to create solutions that provide real-time voice communication with SAP supply chain management systems. Voxware's use of industry standards such as VoiceXML is of critical importance to our integration with SAP systems. In addition, Voxware's open standards enable our customers to use mobile computers from a wide range of manufacturers, allowing them to leverage existing RF vendor relationships."
Voxware President Scott Yetter said, "PEAK Technologies is known for high quality SAP solutions that deliver strong business value.
Citi plans to cut 26000 jobs in major revamp
NEW YORK: Citigroup chief executive Charles O Prince III plans to eliminate or reassign more than 26,000 jobs, or 8% of its work force, when he announces a major overhaul of the financial institution on Wednesday, according to a report in The New York Times. Citigroup's consumer and investment banking businesses are expected to face the most severe cuts, the newspaper said. But across the company, legal and compliance departments are being heavily scrutinised, people who have been briefed on the plans said in the newspaper.In a memo to employees on Monday, Prince said the bank plans to consolidate some back-office, middle-office and corporate functions, move some work to lower-cost areas, and make its technology platforms more efficient. Other published reports have said that Citigroup might eliminate 15,000 jobs, or about 5% of its work force of 327,000.
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