| Retirement savings account help proposed
State Rep. Marc Corriveau (D-Northville) said he hopes legislation introduced recently will help Michigan residents plan for the future. The plan would provide 401k style retirement plans to employees in small businesses that would not otherwise have such an opportunity, he said. “It's one of the things we're trying to do to help small businesses stay competitive," he said. Under the plan, the state would work with a private investment planner to set up the 401ks. They would be open to all businesses and people who are self-employed. The state would front the money to set it up—only about $560,000, according to Corriveau—and recoup the funds as the plan grows. Employees who take part in it would be able to transfer the account should they take another job in Michigan.
Katy Industries, Inc. Announces NYSE Will Suspend Trading of Its ...
ARLINGTON, Va., April 9 /PRNewswire-FirstCall/ -- Katy Industries, Inc. ("Katy") announced today that the New York Stock Exchange expects to suspend trading of Katy's shares of common stock prior to the opening on April 13, 2007. The New York Stock Exchange notified Katy that it did not comply with the continuing listing standards of the New York Stock Exchange in November 2005. Katy does not meet the required market capitalization level of $75.0 million over a consecutive thirty day trading day period or the required total stockholders' equity of not less than $75.0 million. Katy expects the New York Stock Exchange will proceed in delisting Katy's shares with the Securities and Exchange Commission, pending the completion of applicable procedures. It is currently expected that the stock will trade on the OTC Bulletin Board, upon approval of its application.
The Sara Service Merges Property in Spain with Investment ...
The Sara Service Spain, a Spanish property listings web site, have now added overseas investment properties to their online portfolio of property in Spain. Property investors and buyers can now avail of a wide range of international investment opportunities in Italy, Portugal, Cyprus, Morocco, Brazil, Egypt, America, Canada, Malaysia and the Caribbean. Malaga, Spain (PRWEB) April 8, 2007 -- The Sara Service Spain have now added a wide range of overseas property investment opportunities to their catalogue of properties in Spain. Property buyers and investors can now access off-plan investments and resale properties in countries such as Turkey, Italy, Portugal, Cyprus, Morocco, Brazil, Egypt, the Caribbean and Malaysia with more countries to follow. These exciting property investment opportunities are now available due to our recent partnership with the Superior Overseas Property Network.
IA Global launches stock buyback
IA Global Inc., a holding company focused on acquiring primarily Japanese companies in the telecommunication and technology markets, said Thursday its board approved a stock buyback plan. The program, which begins April 2, authorizes the company to repurchase up to 4 million shares, or 2.6 percent of its 152.9 million outstanding common shares. .
Beijing’s uneasy trading deal with America
Beijing's angry response to the US decision to tackle Chinese piracy suggests that the Bush administration may have overreached itself. The blast from Beijing may have been predictable but it was also out of sync with China's recent conciliatory noises on trade. .
Pressuremounts for large rates cut
The central bank is under pressure to slash its policy rate by as much as 100 basis points at tomorrow's Monetary Policy Committee meeting. The private sector wants to see a swift revival in investor and consumer confidence after delays in spending decisions amid a murky economic and political climate. The call came at a seminar yesterday, which heard speculation the Bank of Thailand committee will cut the rate by 50 basis points only. Companies said a half-a-percentage-point cut had been discounted and would not be fully effective in encouraging investment and spending. The current policy rate is 4.5 per cent. Prateep Tangmatitham, president of property developer Supalai Plc, told a Money and Wealth magazine seminar consumer confidence would be restored quickly if the central bank cut its policy rate by a full percentage point.
How Concessions by UAW Lost Jobs
Seventy years after the breakthrough strike that first established the United Auto Workers (UAW) as a powerhouse of organized labor, the union faces new demands for concessions that could sweep away decades of gains by workers. The issues were highlighted at the UAW's bargaining convention in Detroit on March 27-28, where UAW President Ron Gettelfinger threatened a strike if bankrupt auto parts maker Delphi follows through on its threat to void union contracts. Delphi, the former parts division of General Motors that was sold off in 1999, has been in high-profile negotiations with the UAW since it declared bankruptcy in 2005. The company wants to sell or close 21 of 29 plants in the U.S., and it has already taken advantage of earlier UAW concessions to cut pay to $14 per hour for the new hires replacing the 20,000 union members who took buyouts to retire early (another 13,000 union members remain).
Home calendar
The Future of Michigan Real Estate: The Detroit Real Estate Investors Network will host the first session of its next 12-week discussion series titled "What Becomes of a Broken Market." 5:30-8 p.m. Mon. at the Java Exchange Caf, 440 Burroughs (TechOne building), Detroit. Each session will focus on a different topic. Free. Call Loray at 313-443-7188 for information. Real Estate Investors Association of Oakland: Learn from a panel of a judge and attorneys the legal requirements, court processes and restrictions on rental property operations, including the process of evictions. 5:30-9:30 p.m. Thu. at MSU Management Education Center, 811 West Square Lake, Troy. Free for members; $20 for nonmembers. Call 800-747-6742 or visit www.reiaofoakland.com. Home Buyers Seminar: Free step-by-step process into the joy of home ownership.
Strategies for prospering from property investments Down Under
Australia is a land of opportunity, sunny dispositions and growth in many spheres. Precious metals, minerals, a buoyant economy, stable currency, and sustained growth in property and land development are just a few. With such diversity in natural and economic resources, it's hardly surprising that the land Down Under is a shrewd and profitable destination if you're seeking secure and sustained retirement savings breaks via offshore vehicles. Midis and Minis that continue as safe performance vehicles. Everyone needs some sort of vehicle to reach their destination. While not "trusts" in the same sense as other securities covered in previous columns, trust structures are very much involved in how these fixed-rate deposits operate to protect both property assets and investors alike.
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