http://money.cnn.com/2009/07/02/news/companies/bank_failure/index.htm?postversion=2009070300
This article talks about the most recent banks that have failed this year in the US. While larger banks are getting are getting bailouts, local banks are struggling in this economy.
Friday, July 3, 2009
Thursday, July 2, 2009
Banks keep increasing interest rates before credit card law is in effect
http://www.businessweek.com/ap/financialnews/D995T0HO0.htm
This article talks about how banks continue to raise the interest rates for clients who continue to be late on payments. It explains how this is unjust because the banks are taking advantage of their ability to increase their revenues before the new law, passed by the Obama administration goes into effect. The credit card reform bill passed by Obama puts restrictions on the changes banks can make to the fees they can charge their card holders. I agree that it is unfair that banks are taking advantage of the situation by raising interest rates especially since times are so hard for people right now.
This article talks about how banks continue to raise the interest rates for clients who continue to be late on payments. It explains how this is unjust because the banks are taking advantage of their ability to increase their revenues before the new law, passed by the Obama administration goes into effect. The credit card reform bill passed by Obama puts restrictions on the changes banks can make to the fees they can charge their card holders. I agree that it is unfair that banks are taking advantage of the situation by raising interest rates especially since times are so hard for people right now.
Banks keep increaing interest rates before credit card law is in effect
http://www.businessweek.com/ap/financialnews/D995T0HO0.htm
This article talks about how banks continue to raise the interest rates for clients who continue to be late on payments. It explains how this is unjust because the banks are taking advantage of their ability to increase their revenues before the new law, passed by the Obama administration goes into effect. The credit card reform bill passed by Obama puts restrictions on the changes banks can make to the fees they can charge their card holders. I agree that it is unfair that banks are taking advantage of the situation by raising interest rates especially since times are so hard for people right now.
This article talks about how banks continue to raise the interest rates for clients who continue to be late on payments. It explains how this is unjust because the banks are taking advantage of their ability to increase their revenues before the new law, passed by the Obama administration goes into effect. The credit card reform bill passed by Obama puts restrictions on the changes banks can make to the fees they can charge their card holders. I agree that it is unfair that banks are taking advantage of the situation by raising interest rates especially since times are so hard for people right now.
Johnson & Johnson vs. Wyeth
http://www.businessweek.com/technology/content/jul2009/tc2009071_125516.htm
J&J and Wyeth are going head to head right now trying to win consumers over. Since the FDA recommended the dosage of acetaminophen to be reduced in Tylenol, Wyeth is swarming in to promote more sales for Advil. The companies are leading competitors. The important factor is the FDA watching the dosages and warning labels on medications to protect consumers.
J&J and Wyeth are going head to head right now trying to win consumers over. Since the FDA recommended the dosage of acetaminophen to be reduced in Tylenol, Wyeth is swarming in to promote more sales for Advil. The companies are leading competitors. The important factor is the FDA watching the dosages and warning labels on medications to protect consumers.
Implied Warranty Article
This is an article I found on law.com discussing implied warranty and strict liability. It directly relates to chapter 17 of our textbook.
http://www.law.com/jsp/article.jsp?id=1086989272782
http://www.law.com/jsp/article.jsp?id=1086989272782
Wednesday, July 1, 2009
Equality or Equity?
I feel that the individual best suited for a job should be the one to get it. It does not make sense to pass over any individual in favor of one from a different religion, race, sex et cetera (at least not on the basis of one of the aforementioned criteria). Testing in the workplace is fine as long as it is not part of a program of discrimination. Discrimination--in terms of racism, sexism and the like--limits the economy. It precludes capable people on the basis of factors that do not necessarily affect their jobs.
A story from the Wall Street Journal.
A story from the Wall Street Journal.
Tightening Regulations over Tobacco Companies
http://www.businessweek.com/investor/content/jul2009/pi2009071_395684.htm
There are always new regulations being put over tobacco companies these days, but for good reason. There are new laws coming into effect that will further tighten the regulations.
There are always new regulations being put over tobacco companies these days, but for good reason. There are new laws coming into effect that will further tighten the regulations.
Bank of America accused of anti-consumer practices
Bank of America accused of anti-consumer practices
http://www.reuters.com/article/topNews/idUSTRE55T5E420090630?feedType=RSS&feedName=topNews&rpc=69
People, who said they were former Bank of America employees, alleged that their supervisors drove them to burden consumers with needless debt and fees, to fatten the bank's earnings and the paychecks of senior executives, and threatened to retaliate if they complained. Some complained their salaries had been too low and that they had to hit quotas.
http://www.reuters.com/article/topNews/idUSTRE55T5E420090630?feedType=RSS&feedName=topNews&rpc=69
People, who said they were former Bank of America employees, alleged that their supervisors drove them to burden consumers with needless debt and fees, to fatten the bank's earnings and the paychecks of senior executives, and threatened to retaliate if they complained. Some complained their salaries had been too low and that they had to hit quotas.
Tuesday, June 30, 2009
Home Improvement Consumer Protection Act
New law passed in Pennsylvania requires home improvement contractors to register their business with the Attorney Generals office. Contractors have until 7/1/2009 to comply.
http://www.attorneygeneral.gov/hic.aspx
Great website for anyone that will be getting work completed by home improvement contractors in PA. I am getting work completed at my house this summer and was reassured that the contractor that we will be using is certified and registered. This law was passed because there are so many contractors out to take your money and run. It happened to my mechanic. Luckily, he had a great lawyer and did'nt lose his shirt!
Check out the video on the website.
http://www.attorneygeneral.gov/hic.aspx
Great website for anyone that will be getting work completed by home improvement contractors in PA. I am getting work completed at my house this summer and was reassured that the contractor that we will be using is certified and registered. This law was passed because there are so many contractors out to take your money and run. It happened to my mechanic. Luckily, he had a great lawyer and did'nt lose his shirt!
Check out the video on the website.
NY STATE MORTGAGE PROBE ALLOWED
http://money.cnn.com/2009/06/29/news/economy/mortgage_discrimination_probe.reut/index.htm
The US Supreme Court has allowed the state of NY to proceed with its probing of unfair lending and higher interest rates towards minorities. While the Supreme Court is not allowing NY State to issue sopenas it is allowing it to "bring judicial enforcement actions." The Supreme Court has reversed an earlier ruling that claimed Federal Regulations already investigate minority lending practices.
The US Supreme Court has allowed the state of NY to proceed with its probing of unfair lending and higher interest rates towards minorities. While the Supreme Court is not allowing NY State to issue sopenas it is allowing it to "bring judicial enforcement actions." The Supreme Court has reversed an earlier ruling that claimed Federal Regulations already investigate minority lending practices.
THE WHEELS OF JUSTICE TURN SLOWLY
http://edition.cnn.com/2009/CRIME/06/29/scotus.davis.execution/index.html
Here is an interesting article reported from CNN about Davis who is awaiting a stay of execution for supossedly killing a police officer 20 years ago. Nine witnesses have recanted and the courts (both higher and lower) have played tennis with the proceeding of his execution. He is hoping for a stay of execution and a new trial. With the progress we have made in forensic evidence of the last 20 years I do not see how we cannot determine whether we have the actual killer or an innocent man sitting on Death Row. This is the very kind of case that give merrit to the anti-death penalty supporters.
Here is an interesting article reported from CNN about Davis who is awaiting a stay of execution for supossedly killing a police officer 20 years ago. Nine witnesses have recanted and the courts (both higher and lower) have played tennis with the proceeding of his execution. He is hoping for a stay of execution and a new trial. With the progress we have made in forensic evidence of the last 20 years I do not see how we cannot determine whether we have the actual killer or an innocent man sitting on Death Row. This is the very kind of case that give merrit to the anti-death penalty supporters.
MORE ON THE CREDIT CARDS
http://www.walletpop.com/credit/credit-cards/article/_a/bbdp/what-you-buy-where-you-shop-may-affect/544639?icid=mainmaindl3link3http%3A%2F%2Fwww.walletpop.com%2Fcredit%2Fcredit-cards%2Farticle%2F_a%2Fbbdp%2Fwhat-you-buy-where-you-shop-may-affect%2F544639
Below is an article submitted about credit cards and how they affect small businesses. This one discusses how you as a consumer are being tracked and scored by the credit card companies. They look at where you make your purchases and if there is a consistancy of purchasing at discount places, second hand stores, generic brands then the credit card companies will use that information to lower your credit score. Luckily the Obama Administration is looking into these unfair practices and may be imposing regullations to prevent credit companies from acting on this further. I am beginning to feel a bit uncomfortable with all this "invasion of privacy" or "spying" over every little move we, as a general public, make these days. While some of it may be in our best interests this is one example of how it is not.
Below is an article submitted about credit cards and how they affect small businesses. This one discusses how you as a consumer are being tracked and scored by the credit card companies. They look at where you make your purchases and if there is a consistancy of purchasing at discount places, second hand stores, generic brands then the credit card companies will use that information to lower your credit score. Luckily the Obama Administration is looking into these unfair practices and may be imposing regullations to prevent credit companies from acting on this further. I am beginning to feel a bit uncomfortable with all this "invasion of privacy" or "spying" over every little move we, as a general public, make these days. While some of it may be in our best interests this is one example of how it is not.
Monday, June 29, 2009
Supreme Court: White firefighters bias victims
firefighters denied jobs due to their race.
http://www.comcast.net/articles/news-politics/20090629/US.Supreme.Court.Firefighters.Lawsuit/
http://www.comcast.net/articles/news-politics/20090629/US.Supreme.Court.Firefighters.Lawsuit/
GM to pull out of joint venture with Toyota
Interesting story about a GM/Toyota joint venture.
http://www.latimes.com/la-fi-gm-nummi30-2009jun30_dave,0,89529.story
http://www.latimes.com/la-fi-gm-nummi30-2009jun30_dave,0,89529.story
Bernard Madoff gets maximum 150 years in prison
Fraud is fraud no matter who you are
http://www.comcast.net/articles/finance/20090626/US.Madoff.Scandal/
http://www.comcast.net/articles/finance/20090626/US.Madoff.Scandal/
Credit Card Accountability Responsibility and Disclosure Act
http://www.businessweek.com/magazine/content/09_66/s0906020652848.htm?chan=magazine+channel_bwsmallbiz+--+frontline
This article talks about Obama's new Credit Card Accountability Responsibility and Disclosure Act that unfortunately does not help out the small businesses that are so vital to our economy today. They are working on new plans to help out small businesses.
This article talks about Obama's new Credit Card Accountability Responsibility and Disclosure Act that unfortunately does not help out the small businesses that are so vital to our economy today. They are working on new plans to help out small businesses.
A Friendly Reminder from the IRS
this article informs you to double check how much extra money you are actually getting due to the tax cut "making work pay" that's apart of the stimulus package. If you are receiving to much every week it will have to be paid back at the end of the year when you file your taxes.
http://www.comcast.net/finance/forwhatitsworth/1153/afriendlyreminderfromtheirs/
http://www.comcast.net/finance/forwhatitsworth/1153/afriendlyreminderfromtheirs/
Sunday, June 28, 2009
Sotomayor in Business
A blog post discussing Sotomayor's record in cases involving business
An Alliance for Justice report on Sotomayor
The report is pretty long, but it is interesting to a certain degree. I would consult many other sources before coming to a conclusion...you know as one of the common folk.
An Alliance for Justice report on Sotomayor
The report is pretty long, but it is interesting to a certain degree. I would consult many other sources before coming to a conclusion...you know as one of the common folk.
STUDENT LOAN RELIEF
This payment option makes it a lot easy for students like us to pay our way for school. Even with going to state school and community college for some courses my debt in loans is rediculous i found this and got really excited and now I am having my parents look into it not only for me but for the loans that my sisters are still trying to pay off. In this economy it is not easy to think about the debt that I am going to be in when I get out of school but I am really excited that this may answer a couple of my questions on how to get debt free ... or at least get a little closer. WHAT DO YOU ALL THINK ... article is below ...
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For modest earners, relief repaying student loans
For modest earners, new program will help ease burden of repaying hefty student loans
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For modest earners, relief repaying student loans
For modest earners, new program will help ease burden of repaying hefty student loans
- On Sunday June 28, 2009, 9:28 pm EDT
NEW YORK (AP) -- Repaying a student loan could soon be a little less painful.
Starting this week, anyone with a federal student loan can apply for a program, run by the Department of Education, that caps monthly payments based on income, and forgives remaining balances after 25 years. Those choosing to work in public service could have their loans forgiven after just 10 years.
Eligibility for income-based repayment (IBR) is determined by a person's income and loan size. A calculator at http://www.ibrinfo.org can help borrowers determine their eligibility for the plan, which becomes available Wednesday.
"It's a way to borrow for college without going to the poor house," said Lauren Asher, president of the Institute for College Access & Success, a California-based nonprofit that runs the Project on Student Debt.
The program stems from the Education Department's College Cost Reduction and Access Act, signed in 2007, which authorized the creation of a new income-based repayment plan for both Federal Family Education Loan (FFEL) and Direct Loan borrowers on all Stafford and graduate PLUS loans.
Monthly payments would amount to less than 10 percent of income for most of the estimated 1 million people expected to enroll, experts say. Payments would never exceed 15 percent of any income above about $16,000 a year (or 150 percent of the poverty level).
Those who earn less than $16,000 would not have to make any monthly payments.
The new payment option is intended to provide relief for those who earn modest salaries and struggle under the weight of student loans for years on end. By stretching repayment over a longer period, monthly payments are kept at a reasonable portion of income, though most people would not see any savings on the total cost of the loan.
IBR "can lower costs and provides light at the end of the tunnel" for such borrowers, said Asher of the Institute for College Access & Success. That gives borrowers greater financial flexibility to save for retirement, buy a home or even pay for their own children's education, she said.
The program isn't for everyone, however.
In some cases, accruing interest could push the cost of the loan higher. And since loans are likely to be paid off within 25 years, the loan forgiveness aspect of the program won't apply to most people. To save on interest costs, those who could afford to would be better served paying off loans faster, said Mark Kantrowitz, publisher of FinAid.org, which tracks the college financial aid industry.
If a salary jump eventually disqualifies a borrower for the capped monthly payments, they would still be responsible for the cost of the loan and the interest that accrued up to that point. Monthly payments still couldn't exceed what they would be under a standard 10-year repayment plan. Of course, borrowers could opt to pay off debts faster if they chose.
There are already some options for those who can't afford big monthly payments, such as long-term payment plans spanning up to 30 years. But eligibility requirements are stricter, and monthly payments can still be high.
The government also offers a program similar to IBR called the income-contingent repayment plan. That plan is not as lenient as the new one, however, with payments capped at 20 percent of income beyond 100 percent of the poverty level. And it's also only available for direct federal loans.
The new program will be available for direct federal loans, as well as federal loans administered through private lenders. Most of those enrolled in the income-contingent plan are expected to switch over to the new program.
Parent PLUS loans, the federal loans parents can take out to pay for their children's education, are not eligible for either payment plan.
Copyright © 2009 The Associated Press. All rights reserved. The information contained in the AP News report may not be published, broadcast, rewritten, or redistributed without the prior written authority of The Associated Press.
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