Pew study hints at what Web users will pay for - Yahoo! Finance

NEW YORK (AP) -- The Web may seem like the land of something for nothing. Free video. Free news. Even free tools such as word processing and spreadsheets.

But almost two-thirds of adult Internet users in the U.S. have paid for access to at least one of these intangible items online, according to a new survey from the Pew Internet and American Life Project.

Whether people will pay for different types of material on the Web is among the most pressing questions facing media companies in the 21st century.

As people shift their attention to the Internet from more traditional ways of enjoying media, the companies that provide everything from movies to mystery novels want to make sure they can still get paid for what they do. The big TV networks want viewers to pay for full access to episodes of their favorite shows. Newspaper companies want readers to pay for news. Book publishers want higher prices for digital editions of new releases.

The new figures from Pew suggest paying for content online is at least not a completely foreign idea for most people.

About a third of respondents said they have paid for digital music. Same for software.

Behind that came mobile apps for cell phones or tablet computers at 21 percent. Then digital games at 19 percent and newspaper, magazine or journal articles at 18 percent.

The survey found that among people who paid for content, the typical user spent about $10 a month. However, there are some extremely high-end users, such that the average among those who have paid for content is about $47 a month. That includes subscriptions and individual files downloaded or accessed.

The survey of 755 Internet users in the U.S. was conducted Oct. 28-Nov. 1 and has a margin of sampling error of plus or minus 4 percentage points.

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via finance.yahoo.com

This trend isn't going to reverse any time soon. I think I am in the $50 per month range myself.

nowheregirl: I will design a Static web banner or advertisement for $5 at Fiverr.com

x

Fiverr's User Protection Policy

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Buyers and sellers are entitled to cancel orders that have not been delivered successfully, on time, or at all.

Fiverr will do its best to protect sellers against user misbehavior, including removal of false feedback or ratings left by other sellers. We invest a lot of effort in making sure that untrusted people stay away from Fiverr.

Fiverr provides 24x7 customer support services to assist you with account issues, orders and any type of problem with the site. Our team of moderators constantly monitor and clean Fiverr, removing poor quality and improper content, spammers and other wrong doers.

Poor quality sellers hurt the community and first and foremost other great sellers. That said, if you are a seller and your account has been restricted, you will be able to withdraw your cleared earnings.

All subject to our Terms of Service.

via fiverr.com

I am going to use this contractor for something...

richarddlaw: I will design a website banner ad for $5 at Fiverr.com

x

Fiverr's User Protection Policy

At Fiverr, user information is always kept private and secure, our users can choose to remain anonymous even when paying or getting paid.

Buyers and sellers are entitled to cancel orders that have not been delivered successfully, on time, or at all.

Fiverr will do its best to protect sellers against user misbehavior, including removal of false feedback or ratings left by other sellers. We invest a lot of effort in making sure that untrusted people stay away from Fiverr.

Fiverr provides 24x7 customer support services to assist you with account issues, orders and any type of problem with the site. Our team of moderators constantly monitor and clean Fiverr, removing poor quality and improper content, spammers and other wrong doers.

Poor quality sellers hurt the community and first and foremost other great sellers. That said, if you are a seller and your account has been restricted, you will be able to withdraw your cleared earnings.

All subject to our Terms of Service.

via fiverr.com

I beleive that fiverr.com is one of the coolest sites around!

Welcome to PaRR Inspections

via parrinspections.com

Now here is a new way to make a few bucks, very interesting

jacie_earth: I will create a do-follow .EDU backlink to your website or video for $5 at Fiverr.com

x

Fiverr's User Protection Policy

At Fiverr, user information is always kept private and secure, our users can choose to remain anonymous even when paying or getting paid.

Buyers and sellers are entitled to cancel orders that have not been delivered successfully, on time, or at all.

Fiverr will do its best to protect sellers against user misbehavior, including removal of false feedback or ratings left by other sellers. We invest a lot of effort in making sure that untrusted people stay away from Fiverr.

Fiverr provides 24x7 customer support services to assist you with account issues, orders and any type of problem with the site. Our team of moderators constantly monitor and clean Fiverr, removing poor quality and improper content, spammers and other wrong doers.

Poor quality sellers hurt the community and first and foremost other great sellers. That said, if you are a seller and your account has been restricted, you will be able to withdraw your cleared earnings.

All subject to our Terms of Service.

via fiverr.com

i am going to post this, but I hav eno idea whether or not it will work. Here goes nothing.....

BP's spill costs look manageable 8 months later - Yahoo! Finance

NEW YORK (AP) -- As the Gulf oil spill gushed out of control, BP's financial liabilities seemed big enough to sink the company. No more.

Cleanup, government fines, lawsuits, legal fees and damage claims will likely exceed the $40 billion that BP has publicly estimated, according to an Associated Press analysis. But they'll be far below the highest estimates made over the summer by legal experts and prominent Wall Street banks, such as Goldman Sachs, which said costs could near $200 billion.

BP will survive the worst oil spill in U.S. history for several key reasons: it has little debt; its global businesses are forecast to generate $26 billion next year in cash flow from operations; the environmental impact of the spill isn't as bad as feared; and the government seems unlikely to ban BP from Gulf drilling. To bolster its finances, BP has cut its dividend, issued debt and sold more than $21 billion in assets.

"It could have been a lot worse," says Tyler Priest, a University of Houston petroleum historian who serves on President Obama's oil spill investigation committee. "BP is going to come back from this."

Many influential investors appear to agree. According to Thomson Reuters, 23 firms with $1 billion or more invested in the stock market, including BlackRock Investment Management, Managed Account Advisors and Rydex Security Global Investors, more than doubled their holdings of BP stock from July through September.

At $44.11, BP's stock price has risen 63 percent from its low of $27.02 on June 25. It's still down 27 percent from its close of $60.48 on April 20, the day of the spill. The well was capped on July 15.

The AP analysis shows the company is likely to face $38 billion to $60 billion in spill-related costs. A settlement with the federal government could reduce that amount, while a successful class-action lawsuit could add billions more.

The analysis includes:

--The $10.7 billion that BP already has paid to plug its well, clean up the spilled oil and pay damage claims and other costs.

--A $20 billion fund that BP set up in August for individuals and private businesses that were affected by the spill. The fund, known as the Gulf Coast Claims Facility, pays for environmental damage, personal injury, cleanup and lost earnings. The fund so far has paid $2.7 billion to address nearly 168,000 claims. Nearly half a million individuals and businesses have filed claims, and those that settle with the fund give up their right to sue the company. If any of the $20 billion is left over, it goes back to BP.

--Fines: The Justice Department is suing BP for violating the Clean Water Act. Fines are based on how much oil was spilled. The government's estimate of 4.9 million barrels means BP faces between $5.4 billion and $21.1 billion in fines. The upper limit applies if investigators conclude BP acted with gross negligence. The government has a history of settling with companies for as little as 50 cents on the dollar in order to avoid lengthy disputes, says Eric Schaeffer, former head of the Environmental Protection Agency's enforcement division.

-- Legal fees: BP has hired lawyers, engineers and geologists to defend the company. These experts could cost as much as $2 billion, according to Mitratech Inc., a consulting firm that handles legal and trial logistics for Fortune 500 companies.

-- Lawsuits: The toughest costs to estimate are future settlements and judgments from the hundreds of lawsuits filed against BP, including any class actions. Shrimpers, oystermen, charter-boat operators, restaurant workers and real-estate developers are suing BP for lost business. Oil rig workers and cleanup crews are making personal injury claims. And Gulf states and local governments are expected to sue for lost tax revenue and environmental damages. Alabama is seeking an initial $148 million from BP. Analysts at Citigroup say settlements, judgments and punitive damages from these suits will total as much as $6 billion.

Legal experts caution that the unpredictability of juries makes it difficult to estimate the cost of losing a class-action lawsuit. A successful class-action could easily double the Citigroup estimate for total legal liabilities, says Alexandra Lahav, a University of Connecticut professor who studies such lawsuits.

BP may be able to spread the spill's costs around. Minority partners Anadarko Petroleum Corp. and MOEX 2007 LLC own 35 percent of the operation, and rig owner Transocean Ltd. also may be asked to pay. "Companies have the incentive to settle with BP to put the matter behind them," FBR analyst Robert MacKenzie says. He expects BP to get as much as $2 billion from Transocean and as much as $4 billion from Anadarko.

Since the spill, BP has moved aggressively to shore up its finances.

The company suspended its quarterly dividend of 84 cents a share, which cost it $10.5 billion last year. It also raised $21 billion in asset sales that include: $7 billion for its stake in Pan American Energy; $7 billion for oil fields in the U.S., Canada and Egypt; $1.9 billion for its Colombian exploration business; and $1.8 billion for assets in Vietnam and Venezuela. BP also raised $3.5 billion in an Oct. 1. bond sale.

From April through June, when BP's stock was tanking, Fred Fromm, who manages a natural resources fund for Franklin Templeton Investments, scooped up 170,000 shares. Their value climbed by more than $2 million in the third quarter.

A few weeks after the Deepwater Horizon rig exploded and sank, scientists worried the oil slick would reach the Gulf's Loop Current, which sweeps around Florida and up the East Coast. Beaches would be damaged along the way. But BP got lucky. Gulf winds kept shifting, which kept the oil concentrated in the waters south of Louisiana, said David Hollander, a University of South Florida chemical oceanographer. And hurricanes mostly avoided the region.

Scientists disagree about how much oil remains in the Gulf, but already the streaky sheens of oil on the surface are mostly gone. The more oil that remains, the greater the potential for environmental lawsuits.

Whatever remains, "it won't impact their long-term ability to do business," says Citigroup oil analyst Mark Fletcher.

Exxon dealt with lawsuits for decades after its Valdez supertanker ran aground and spilled 11 million gallons of crude into Alaska's Prince William Sound in 1989. The spill cost Exxon $4.5 billion -- nearly half of which went to clean up the oil. The rest was spent on payments to residents and businesses, punitive damages and settlements with the government.

Exxon never lost its perch among industry leaders, and BP won't either, says Citigroup's Fletcher. BP remains among the top oil drillers in a world that runs on petroleum, and that may be the best way to judge the company's lasting power.

"Did (Valdez) stop anyone from buying Exxon gasoline? No. Exxon's results are better than anyone's on a multiyear basis," Fletcher said.

via finance.yahoo.com

I'm not sure what to think of this article. Part of me suspected that BP and the spill was the "flavor of the month for vilification in the media. But, on the other hand, you see those interviews with those fishermen and it tears your heart out.

Best Weight Loss Success Stories of 2010 - That's Fit

via thatsfit.com

A quick workout that is bound to be easy to do every day....

Top Dog and Cat Fitness and Weight Loss Products Revealed

Association of Pet Obesity Prevention chooses favorite products for dog and cat weight loss.

Posted: December 21, 2010, 3 a.m. EST

Half of the 171 million U.S. cats and dogs are obese, a study contends.

To help dogs and cats lose weight and sustain a healthy lifestyle, the Association for Pet Obesity Prevention has released the “Top Pet Fitness and Weight Loss Products for 2010.”

Half of the nearly 171 million dogs and cats in the United States are overweight, according to the association, which was founded by Ernie Ward, DVM, a certified personal trainer and USA Triathlon coach. With that figure in mind, the pet industry is developing innovative and effective dog and cat exercise and weight loss products to combat the problem, the association noted.

The top products for 2010 — rated on innovation, practicality, availability, cost/benefit, durability, ease of use and dog or cat/owner acceptance — are as follows:

Harnesses and Leashes
“Exercise is critical to keeping your pet fit and healthy,” Dr. Ward said. “A comfortable leash and harness system is a must for exercising with your dog.”

• Canicross Belt by Canadog Supply of Manitoba, Canada—The dog is leashed to an owner’s waist belt leaving the hands free for other uses. The belt comes with a bottle holder and a pouch to hold keys, a cell phone and/or sanitary bags. 
• Tru-Fit Smart Harness by Kurgo Products of Salisbury, Mass.—A walking harness that also works as a car restraint device.
• Wacky Walk’r by Wacky Walk’r and Pets Inc. of Collegeville, Pa.—Colorful leashes made of rubber tubing that stretches if/when a dog pulls on the leash.

Toys
“Play is an important part of keeping pets physically and mentally healthy,” Ward said. “While there is no substitute for one-on-one interaction, we’ve found some toys that can ramp up the fun for everyone.”

• Sway by FroliCat, a brand of Brilliant Pet of Chicago — The product magnetically suspends a toy from a variety of flat surfaces for cats to play with.
• Wood Chuck with Orbee-Tuff RecycleBall by Planet Dog of Portland, Maine — The wood chuck is made of bamboo and reused cork scraps while the ball is made from “regrinded” rubber that normally would be discarded.
• Go get it! by Petmate of Arlington, Texas — A compact, retractable ball thrower. Fits regulation sized tennis balls.
• Dog Casino by Nina Ottosson, available from the Company of Animals in the United Kingdom — The idea of the product is for the dog to dislodge the removable bones and then pull open the sliding compartments to reveal hidden treats.
• My Agility Set Toy by Oscar Newman Luxury Pet Couture of Chicago — The agility set, made out of tiny, soft pastel-colored poles and tunnels, is designed for small breed dogs.

Technology Products
“I am a techie-geek-exercise enthusiast,” Ward said. “Each year I love trying out the cool gadgets and figuring out what helps people and pets get fit together.”

• Eyenimal by Sas Felis Innov of France — A video camera that attaches to a dog or cat's collar. The 8 GB built-in Flash memory and battery can capture images continuously for up to 2.5 hours, according to the company. Recorded videos of cats or dogs are transferred to a computer via a USB cable.
• Dog-e-Minder by Dog-e-Minder of Hollywood, Fla. — A small device that records when a dog last ate, was walked or received medication. Can be worn like a dog tag.
• SpotLight GPS Pet Locator by Securus of Raleigh, N.C. — The GPS uses satellites and a cell phone connection to help locate a lost dog. Pet owners can set up safe zones and be alerted if their dog leaves those areas. The device attaches to the dog’s collar.

Other Products
• FitPaws Balance Disc by Ball Dynamics International of Longmont, Colo. — A hard rubber half-ball designed for canine workouts.
• HyperKewl Evaporative Cooling Dog Coat by TechNiche International of Vista, Calif. — A vest designed to keep a dog cool for five to 10 hours, according to the company.
• CocoTherapy Coconut Chips by Oscar Newman of Chicago — The treats are made from dehydrated organic coconut meat and contains no sugars, salt preservatives or chemicals, according to the company.
• See Me Reflective Leash and Collar Covers by Pat Bay International of Tolland, Conn. — The reflective product slips over existing collars or leashes.

via catchannel.com

Really? There really is a Association of Pet Obesity Prevention? C'mon, is that really necessary? Seriously.

cnbcs-boldest-predictions-for-2011: Personal Finance News from Yahoo! Finance

There's nothing like a bold, even outrageous prediction, and in compiling some 150 predictions from three-dozen staffers and contributors this year, we came away with some out-of-the-box prophecies. Though they may be bold, they are certainly in the realm of possibilities. So, take a look at who at CNBC is saying what, in their own words.

8. Euro Weakens Further, Nearing Parity With the Dollar

Thomas Northcut | Photodisc | Getty Images

The move will come as it becomes clear to the currency markets that growth in America is stronger than anticipated and that Euorpe's peripheral countries will need to restructure their debts. The big winner from this depreciation will be Germany, which will see export volumes continue to surge."

— Guy Johnson

 

 

7. Ford Has Most Profitable Year Ever

Ford

"This really isn't much of a stretch given Ford Motor (NYSE: F - News) is currently having one of its best years ever. But in 2011, as North American sales pick up and Ford enjoys the benefits of a full year of sales from the Fiesta and Explorer, along with roll out of the re-designed Focus, Ford will crank up the profits. The roll Ford is enjoying right now is reminiscent of when Toyota was in the sweet spot a few years back."

— Phil LeBeau

6. U.S. Undergoes Nuclear Power-Plant Building Boom

Getty Images

"Summer-time brownouts and shovel-ready sluggishness will spark a national effort to build a nuke in every state — 50 fast-tracked, nuclear power plants to create jobs and juice needed for a great future."

— Matt Nesto

 

 

 

5. Stars Will Monetize Their Brands

Getty Images

"Celebrities, who both create and curate content, will increasingly monetize their brand value. Will Smith, Ryan Seacrest, Kim Kardashian, and the like will sell content and merchanise directly to fans. We may see some celebrities self-finance videos and distribute to consumers, cutting out media conglomerates."

— Julia Boorstin

 

 

4. Netflix Sells Off and Is Acquired

Getty Images

"Netflix's (NasdaqGS: NFLX - News) stock gets rocked as the company's margins take a hit, the result of a price war over video streaming … The stock will lose three-quarters of its value, as the market for streaming video becomes more competitive and commodity like, and Netflix will be acquired. After a lengthy bidding war, which drags in Apple (NasdaqGS: AAPL - New) and Amazon (NasdaqGS: AMZN - News), the winner is: Google (NasdaqGS: GOOG - News)."

— Herb Greenberg

3. New Pressures for Banks

"Banks will be under renewed stress as housing prices fall and loan losses reaccelerate. Another round of capital raises may be in the offing as more and more banks find themselves undercapitalized … Bank failures may also accelerate, and industry consolidation will result in an even higher concentration of assets held at a handful of huge banks. Investors will seek out the strongest, best capitalized banks and avoid the undercapitalized."

— Michael Farr

2. U.S. Military Action in Yemen

John Miles | The Image Bank | Getty Images

"Due to growing terrorism fears over a disintegrating Yemen, there will be direct U.S. military action there. Concerns about terrorist activities spilling into Saudi Arabia, Yemen's neighbor to the north, will amplify concerns over the region and engender significant action against Al Qaeda assets in the country."

— John Kilduff

 

 

1. Jamie Dimon Retires

Toshifumi Kitamura | AFP | Getty Images

"Next year, Jamie Dimon will reach his 55th birthday. Why would he retire at this point? Because his job is over. Under his leadership, JPMorgan Chase has emerged as the most successful of the country ' s biggest banks. Almost alone among his peers, Dimon made it through the financial crisis better off than he entered it. Dimon may stay on as chairman of the board, however."

— John Carney

 

via finance.yahoo.com

I love lists like this that always appear around this time of year. I guess if you throw enough crap at the wall, some of it is bound to stick. I am not making any financial decisions based on this, but it is interesting.

Veteran goalkeeper Kasey Keller to retire after 2011 - ESPN

TUKWILA, Wash. -- Goalkeeper Kasey Keller will retire after the 2011 season, his 23rd in professional soccer.

The former U.S. national team goalkeeper agreed Friday to a contract for next season, his third with Seattle. The 41-year-old was the starter for the United States at the 1998 and 2006 World Cups, and the 1996 Olympics.

Keller said at a news conference that he didn't "want to be that guy where everyone says, 'You should have retired last year."

Before joining Major League Soccer, he played for the Portland Timbers (1989), Millwall (1992-96), Leicester (1996-99), Rayo Vallecano (1999-01), Tottenham (2001-05), Southampton (2004), Borussia Moenchengladbach (2005-07) and Fulham (2007-08).

via espn.go.com

I have been a big Kasey Keller fan for a lot of years. He has carried himself with class and dignity for years through the ups and downs of the National Team. I wish him nothing but the best and thanks for the effort, Kasey.

Buffett's Bet on GE in 2011 - Yahoo! Finance

Related Quotes

Symbol	Price	Change
BRK-A	119,680.00	0.00
CAT	93.20	0.00
GE	17.77	0.00
IYJ	65.08	0.00
VIS	65.15	0.00

{"s" : "brk-a,cat,ge,iyj,vis,xli","k" : "a00,a50,b00,b60,c10,g00,h00,l10,p20,t10,v00","o" : "","j" : ""}

ByDon Dion, Portfolio Manager , On Friday December 17, 2010, 6:00 am EST

NEW YORK (TheStreet) - General Electric looks promising as we head into the near future. Upward action from this U.S. based conglomerate will mean a nice payday for investors in 2011.

This week, GE CEO Jeff Immelt provided an optimistic forecast for the firm. In comments made to investors during the company's annual meeting, he explained that, though demanding, the steps taken in the aftermath of the global economic crisis have helped GE get back on track. He expects the firm's core businesses will grow in 2011.

In addition, Immelt pointed to China as a promising region for the company in the New Year, saying the company expects to see high double-digit growth.

By paring back the size of its financial branch GE Capital and refocusing on its industrial roots, the company has already made great strides on the path to recovery.

This fall, executives offered up an optimistic outlook for the company's M&A future, explaining that over the next few years the firm has the capability to spend about $30 billion on acquisitions. Following through with this forecast, the company made a number of notable purchases in closing months of 2010, including the $1.3 billion deal to acquire U.K-based Wellstream which was announced earlier this week.

One investor who likely looks forward to GE's ongoing return to prominence in the New Year is Berkshire Hathaway chair Warren Buffett.

Buffett and GE have developed a well documented relationship in recent years. In the throes of the 2008 financial meltdown, the Oracle of Omaha lent a hand to the struggling conglomerate, providing $3 billion in return for preferred stock and warrants to buy $3 billion in GE common shares at a set price. Buffett's investment played an instrumental part in saving the firm when it was on the brink of catastrophe.

Although the company has recovered during the period following the financial meltdown, GE's stock hasn't seen the type of dramatic upward trajectory that fellow Buffett-holding, Goldman Sachs has seen.

Nevertheless, the world famous investor has remained faithful and held onto his GE preferred shares. This equity has not only provided him with a front row seat to the company's resurgence but also a well received annual 10% dividend.

There is a good chance that General Electric will end up being another homerun for Buffett in 2011. ETF investors may find funds including the Vanguard Industrial ETF, iShares Dow Jones U.S. Industrial Sector Index Fund and the Industrial Select Sector SPDR attractive ways to follow the Oracle's lead.

These funds are notable for their heavy exposure to General Electric. In all three, the firm is listed as the No. 1 holding, accounting for 12%, 11% and 10% of VIS, IYJ and XLI respectively.

Aside from GE, however, all three boast heavy exposure to other notable industrial household names including 3M, Caterpillar and United Technologies. These companies will also benefit in 2011 as the global economy continues to recover.

via finance.yahoo.com

This is a welcome bit of news off the wire. I have a small holding of GE stock and would love to see it have a good year, even though my main reason for owning it is the dividend. I hope if they have a good year they will raise the dividend.

Chicago Cubs, Kerry Wood closing in on deal to bring him back to Wrigley Field - ESPN Chicago

Although numerous reports Wednesday had the Chicago White Sox offering right-handed pitcher Kerry Wood a two-year contract, it appears the former Cubs icon is heading back to the North Side.

ESPNChicago.com Cubs blog

The latest news and notes on the Cubs. Blog

Wood and the Cubs are working on a deal that would bring him back to Wrigley Field as the setup man for Carlos Marmol, a major league source with knowledge of the negotiations said Wednesday.

Wood left the Cubs in 2009, signing a two-year, $20 million deal with the Indians. He was traded to the Yankees on July 31. He was the primary setup man for Mariano Rivera for the rest of the season.

Wood and his family have moved back to Chicago full-time and are selling their home in Arizona in order to send their young children to schools in Chicago, according to a Wood family member.

The deal is not done yet, but, the source said, it's moving in a direction that would have Wood returning to the Cubs. The deal is likely to be longer than one year.

Wood originally signed with the Cubs in 1995. He was selected by the team with the fourth overall pick in that year's draft.

After striking out 20 Houston Astros as a rookie on May 17, 1998, he was given the name "Kid K" by Cubs loyalists. Wood's best season as a starter was 2003, when he posted a 14-11 record and struck out a National League-high 266 hitters.

After three injury-plagued seasons in the rotation, Wood became a relief pitcher for the Cubs and then their closer in 2008. That year, he saved 34 games for a team that won the NL Central.

Wood won two playoff games against the Atlanta Braves in the 2003 NLDS only to have a reverse performance in the NLCS. He was the losing pitcher in Game 7 of that series, which sent the Marlins to the World Series.

Wood has been on the DL almost every season since 2004. He missed six weeks of the 2010 season with a back injury.

Wood has an 83-68 record with 62 saves and a 3.65 ERA during his 11 big league seasons.

Bruce Levine covers baseball for ESPNChicago.com.

via sports.espn.go.com

Well, I welcome Woody back to town. It just wasn't right seeing him in a Yankees uniform. It seems the world is back on it's correct axis. I wonder what Ron Santo would say about this?

Mortgage Rates Up Against Lender Apathy Heading into Year-End

Mortgage rates had some bad weeks over the past month, but last week was the worst.

The "best execution" 30 year fixed mortgage rate has risen to 4.75%. This is a seven month high according to our loan pricing model. To illustrate the speed and scope of recent mortgage rate movements I offered THIS CHART  <---SOBERING

The economic events calendar is busy in the day's ahead. We get an update on domestic inflation metrics, the much anticipated release of November Retail Sales data, several reports on the health of housing, industrial production, and regional business activity indexes. Plus the political landscape is filled with big decisions, specifically the extension of both Bush-era tax cuts and unemployment benefits, both of which would support consumer spending and the broader economy in 2011. These votes need to take place before the 2nd seating of the 111th Congress comes to a close on Friday (the Senate might carry over into next week though).

Also impacting the primary mortgage market this week will be headlines from the Federal Reserve, which will hold another closed meeting tomorrow to discuss the status of the economy, monetary policy and the impact of QEII asset purchases. At 2:15 the Federal Open Market Committee (FOMC) will release their policy statement.  Investors are listening closely for any hints from the Fed that would imply QEII might come to an early close. Not many economists expect this to happen but we are still listening for subtle signs.

Whorush: 6 sites by this AdSense ID 

Here at MND we anticipate the Fed's policy statement to paint a mixed picture that leans clearly toward the "slow, segmented economic recovery" camp. Businesses are investing in technology that will drive productivity in the workplace (automation/robots), consumer spending is growing albeit modestly and will continue to grow if tax cuts and unemployment benefits are extended by Congress, but the overall economic outlook is still constrained by excessive weakness in the housing and labor markets as well as a huge budget deficit (probably won't hear the Fed mention that though). We would expect this event to be favorable to mortgage rates, but the short- term outlook for consumer borrowing costs just isn't that simple at this time of the year....

I say "this time of year" because it is year-end on Wall Street and investors are generally distracted by holiday events and administrative tasks aimed at cleaning up balance sheets for annual reporting. The resulting effect is less participation in the bond market and increased volatility. If you've been reading the blog lately,  that volatility has been obvious.  Visit the link above to see that volatility illustrated on a chart. 

Mortgage lenders have year-end activities too and they impact loan pricing. In general lenders are more reluctant during the holiday season to get aggressive with mortgage rates (relative to MBS prices). This slows loan production and gives the operations staff and management a chance to prepare for a new year. Unfortunately that implies we probably won't see any significant improvements in the "best execution" par 30 year fixed mortgage rate at least until next year....regardless of any significant improvements we might see in the benchmark bond market.

Plain and Simple: For 30 year fixed mortgages, there is a clear line of demarcation between 4.625% and 4.75%. If you are looking to close in the next 2 weeks...4.75% is your likely target. Very-well qualified borrowers should shoot for no points. If y

via mortgagenewsdaily.com

Trying to refinance the homestead here. Just don't know whether to wait for the recent run up to settle down or just pull the trigger.

7 Weight Loss Steps for Men

State your weight loss aims and focus
Because changing your eating habits for the long term is the only way to successful weight loss it is important to spend a bit of time thinking about your aims. There are many good reasons for losing weight but you may have a priority. It may be your health, your self esteem, or to look more attractive. Having a clear idea of what you want, a focus, will help keep you on track.

Mental preparation for weight loss
It is important to spend a bit of time preparing yourself mentally for the changes that you are going to make because to be successful you have to think of the long term. You are going to have to make some changes to what you eat and your patterns of food intake. Eating out at your favorite places may need to change, especially early on when diet change is the most difficult, but once you've established a routine things should get easier.

Keep a food diary to monitor weight loss
This should be part of your preparation. Write down what you eat, when and where. Make a note of your mood. All of this information can contribute to your aims and the changes that you are going to make. Unless you understand your relationship to food and your food patterns you will not make the changes you need that leads to successful long term weight loss.

You can continue with a food diary for as long as you think it is helpful. It can help to keep you focused, help with discipline, reflect on and change eating habits.

Lifestyle and weight loss
A lot of the food we eat is fast food and so much of it is packed with excessive amounts of sugar, salt and fat. Just by cutting back and paying more attention to the type of food and changing to a more healthy alternative will mean you can still eat well but you will lose weight at the same time.

Be realistic about weight loss
Aim for a loss of two lbs max in weight per week. Although we all like to see the pounds dropping off quickly it is not helpful or healthy. More than that and you will just be burning up muscle rather than fat which will slow down your metabolism making it harder to loose weight long term. Weight can fluctuate for all sorts of reasons. Don't be disheartened because you've agonized for a week but the scales say you haven't. Stick with it.

Cut out snacks to maintain weight loss
Snacking is all too and the majority of snacks are high in calories. The best thing is not to snack between meals but if you have to eat low calorie healthy foods like fruit.

Eat a healthy diet to maintain weight loss
A knowledge of basic nutrition will help you to make the right choices about the sort of food you eat. A balanced diet contains;

some protein such as lean meats, fish, chicken, turkey, eggs, soy foods, pulses.

some carbohydrates such as pasta, rice, bread, potatoes

some fats such as oil, nuts and seeds

some fruits and vegetables.

If you have a healthy balanced diet you should not need to take any extra vitamins or minerals in tablet form. Build some indulgences into your plan. You want a lifestyle diet that works so you need a few sins too.

Only eat when you are hungry.

Never eat unless you are hungry. Eating simply out of habit or boredom will not help you to slim.

Exercise helps. Exercise will burn off calories, keep you fit and keep you toned. It also increases your metabolic rate so makes losing weight easier.

Reward yourself. When you reach weight goals reward yourself, with an outing or by buying yourself some goodies.

Don't beat yourself over the head if things go wrong; just re-focus and press on.

For added motivation why not consider joining a slimming club. Many people find this helpful as good advice is coupled with regular checks. It's also a great way to meet new people.

Also on Men's Health

via menshealth.about.com

Not a bad article to help with the weight gain issues. A weight loss program for men is on my shopping list for Christmas this year. I am getting an early start!

5 Financial Skills Prized in a Tough Economy - Yahoo! Finance

Philip Moeller, On Monday December 13, 2010, 12:02 pm EST

Being financially capable is normally not the stuff of bragging rights. But in this severe downturn, perhaps, a solid grasp of finance is unusually valuable. So, hats off to residents of New York, New Jersey, and New Hampshire. According to a major study of Americans' financial knowledge, planning, and coping skills, you are at the top of the class in terms of your financial savvy.

[See 10 Tips for Retirement Overseas.]

The FINRA Investor Education Foundation surveyed more than 28,000 Americans last year, or about 500 per state. It gathered information in major categories designed to measure consumers' financial capabilities: making ends meet, planning ahead, managing financial products, financial knowledge, and financial decision-making. It then compared how residents in different states fared in these capabilities. FINRA is the Financial Industry Regulatory Authority--the major industry overseer of securities firms.

Here are specific things the survey looked at within each category, and the five best and five worst performing states:

Making ends meet. It's hardly surprising that many households are finding it hard to meet their current spending needs with their current earnings. Nationally, according to the survey, only 41.6 percent of Americans were spending less than their income. The five most prudent states in this measure were New Jersey (where 48.7 percent of consumers spent less than they made), New York (46.2 percent), Washington (44.9 percent), Maryland (44.8 percent), and California (44.6 percent). States where residents had the worst time making ends meet were Montana (only 30.1 percent of its citizens spent less than their incomes), Idaho (34.6 percent), Vermont (35.5 percent), South Dakota (35.8 percent), and Oklahoma (36.1 percent).

Planning ahead. Rainy-day funds were used as the measure of consumer planning habits. Throughout the country, only 35.3 percent of people had set aside such emergency funds. The best planners were in New Jersey (47.8 percent), New York (45.1 percent), Washington (43.1 percent), New Hampshire (41.7 percent), and Massachusetts (41.1 percent). Households that were not able to set aside such funds were most likely found in Oklahoma (where 71.5 percent of people did not have emergency funds), Kentucky (67.2 percent), Montana (67.2 percent), Arkansas (66.9 percent), and Maine (66.6 percent).

[See Finally, Retirement Help for the Rest of Us.]

Managing financial products. Consumers who borrow money from non-bank sources (pawn shops, payday loans, and the like) usually pay high interest rates and do little to help their credit ratings. The U.S. average in using such non-bank lending sources was 24.3 percent. In New Jersey, only 13.8 percent of residents borrowed from such sources, followed by New Hampshire (15.4 percent), Massachusetts (15.6 percent), New York (17.7 percent), and California (17.8 percent). In Montana, by contrast, 36.6 percent of the people used non-bank loans, followed by Oklahoma (36 percent), Wyoming (34.6 percent), Mississippi (33.8 percent), and South Carolina (32.9 percent).

Financial knowledge. Financial literacy was measured by asking consumers five basic questions (these questions and the correct answers are at the bottom of this story). On average, consumers answered fewer than three of them correctly. The best scores were turned in by citizens of New Hampshire (3.304 correct answers), Minnesota (3.276), South Dakota (3.267), Idaho (3.188), and Vermont (3.172). The lowest marks were posted in Louisiana (2.750), West Virginia (2.835), Kentucky (2.843), Arkansas (2.852), and Tennessee (2.858).

Financial decision-making. Consumer decision-making was evaluated by asking people if they comparison shopped when selecting credit cards. Nationally, fewer than a third did so (the actual score was 32.3 percent). The best shopping practices were recorded in Rhode Island (41.3 percent of its residents compared terms on multiple credit cards), trailed by the District of Columbia (37.7 percent), Idaho (37 percent), New Hampshire (36.7 percent), and Wisconsin (36.5 percent). The worst shopping skills were in Missouri, where 67.4 percent of the people did not compare credit cards, followed by North Carolina (also at 67.4 percent), Arizona (66.2 percent), Kentucky (also at 66.2 percent), and Texas (65.9 percent).

[See 8 Savings Tips for Older Consumers.]

Here are the five financial literacy questions. See how you do:

1. Suppose you have $100 in a savings account earning 2 percent interest a year. After five years, would you have more than $102, exactly $102, or less than $102?

a) More than $102

b) Less than $102

c) Exactly $102

d) I don't know

2. Imagine that the interest rate on your savings account is 1 percent a year and inflation is 2 percent a year. After one year, would the money in the account buy more than it does today, exactly the same, or less than today?

a) More than it does today

b) Exactly the same

c) Less than today

d) I don't know

3. If interest rates rise, what will typically happen to bond prices? Rise, fall, stay the same, or is there no relationship?

a) Rise

b) Fall

c) Stay the same

d) No relationship

e) I don't know

4. True or false: A 15-year mortgage typically requires higher monthly payments than a 30-year mortgage but the total interest over the life of the loan will be less.

a) True

b) False

5. True or false: Buying a single company's stock usually provides a safer return than a stock mutual fund.

a) True

b) False

(Correct answers: 1a; 2c; 3b; 4a; 5b.)

via finance.yahoo.com

Take the quiz without looking! I did way better than the average, which is a pretty sad editorial on our society. This article was very saddening to me.

Canvas on Demand Deal of the Day | Groupon Chicago

$45 for One 16”x20” Gallery-Wrapped Canvas Including Shipping & Handling (a $126.95 value) or a Gift Card worth $126.95

Direct from Canvas on Demand

65% Off at Canvas on Demand

Canvas on Demand

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Tipped at 7:11AM with 100 bought

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The Fine Print

• Expires Jun 26, 2011
• Shipping info req upon checkout for gift card auto redemption. Gift card guaranteed delivery by 12/25. Canvas delivery after 12/25 only. Gift card expires 6 mo from processing. View full terms & conditions.
• See the rules that apply to all deals.

Highlights

• Guaranteed Christmas delivery of gift card! See complete terms for details.
• Turn original photo into artwork
• Doesn't need a frame
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Refer Friends, Get $10:

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Though rubber-banding a photograph to a roly-poly super ball increases its utility, its picture quality plummets after playing just a few rounds of fetch. Put a photo in a durable place with today's Groupon: for $45, you get either one 16"x20" thick (1.5") gallery-wrapped canvas print or a gift card worth $126.95 from Canvas on Demand (a $126.95 value). Shipping and handling are included with the cost of this Groupon; the gift card will be mailed to the giftee of your choice automatically when you provide their shipping address upon checkout. The canvas itself will not be delivered until after December 25, however, if you choose the gift card option, the card will be delivered to the recipient by the 25th.

A wrapped canvas is a professional photorealistic reproduction printed on textured artist canvas and gallery wrapped around a sturdy 1.5" edge. Upload your desired image and pass it off to Canvas on Demand's image touch-up experts. They'll make complimentary fixes, such as improving sharpness, balancing and enhancing the color, fine-tuning contrast, and removing suspiciously red eyes, before reproducing your image on a 16"x20" canvas. Customers can also opt to mail in traditional prints; Canvas on Demand's image magicians will make a high-resolution scan and return originals by mail—unless they're baby photos, which are returned via stork.

With a wrap-around canvas, your new art will have a colorful edge, and it won't need a frame. About a week from receipt of your initial submission, you'll have your gallery-canvas print in hand, ready to hang with pride above any lonely fireplace in need of a non-imaginary friend.

Reviews

via groupon.com

I just ordered this for a photo we took at the Paul Thorn concert at the Castle Theatre Friday night. These are incredible and this deal is too good to pass up.

Best Pizza Dough Ever Recipe - 101 Cookbooks

Peter Reinhart's Napoletana Pizza Dough Recipe

Heidi notes: Peter's recipe says the olive (or vegetable oil) is optional. I use it every time - always olive oil, not vegetable oil. I love the moisture and suppleness it adds to the dough, and it makes your hands soft too.

4 1/2 cups (20.25 ounces) unbleached high-gluten, bread, or all-purpose flour, chilled
1 3/4 (.44 ounce) teaspoons salt
1 teaspoon (.11 ounce) instant yeast
1/4 cup (2 ounces) olive oil (optional)
1 3/4 cups (14 ounces) water, ice cold (40°F)
Semolina flour OR cornmeal for dusting

1. Stir together the flour, salt, and instant yeast in a 4-quart bowl (or in the bowl of an electric mixer). With a large metal spoon, stir in the oil and the cold water until the flour is all absorbed (or mix on low speed with the paddle attachment), If you are mixing by hand, repeatedly dip one of your hands or the metal spoon into cold water and use it, much like a dough hook, to work the dough vigorously into a smooth mass while rotating the bowl in a circular motion with the other hand. Reverse the circular motion a few times to develop the gluten further. Do this for 5 to 7 minutes, or until the dough is smooth and the ingredients are evenly distributed. If you are using an electric mixer, switch to the dough hook and mix on medium speed for 5 to 7 minutes, or as long as it takes to create a smooth, sticky dough. The dough should clear the sides of the bowl but stick to the bottom of the bowl. If the dough is too wet and doesn't come off the sides of the bowl, sprinkle in some more flour just until it clears the sides. If it clears the bottom of the bowl, dribble in a tea- spoon or two of cold water. The finished dough will be springy, elastic, and sticky, not just tacky, and register 50 to 55F.

2. Sprinkle flour on the counter and transfer the dough to the counter. Prepare a sheet pan by lining it with baking parchment and misting the parchment with spray oil (or lightly oil the parchment). Using a metal dough scraper, cut the dough into 6 equal pieces (or larger if you are comfortable shaping large pizzas), You can dip the scraper into the water between cuts to keep the dough from sticking to it, Sprinkle flour over the dough. Make sure your hands are dry and then flour them. Lift each piece and gently round it into a ball. If the dough sticks to your hands, dip your hands into the flour again. Transfer the dough balls to the sheet pan, Mist the dough generously with spray oil and slip the pan into a food-grade plastic bag.

3. Put the pan into the refrigerator overnight to rest the dough, or keep for up to 3 days. (Note: If you want to save some of the dough for future baking, you can store the dough balls in a zippered freezer bag. Dip each dough ball into a bowl that has a few tablespoons of oil in it, rolling the dough in the oil, and then put each ball into a separate bag. You can place the bags into the freezer for up to 3 months. Transfer them to the refrigerator the day before you plan to make pizza.)

4. On the day you plan to make the pizza, remove the desired number of dough balls from the refrigerator 2 hours before making the pizza. Before letting the dough rest at room temperature for 2 hours, dust the counter with flour, and then mist the counter with spray oil. Place the dough balls on top of the floured counter and sprinkle them with flour; dust your hands with flour. Gently press the dough into flat disks about 1/2 inch thick and 5 inches in diameter. Sprinkle the dough with flour, mist it again with spray oil, and cover the dough loosely with plastic wrap or a food-grade plastic bag. Now let rest for 2 hours.

5. At least 45 minutes before making the pizza, place a baking stone either on the floor of the oven (for gas ovens), or on a rack in the lower third of the oven. Heat the oven as hot as possible, up to 800F (most home ovens will go only to 500 to 550F, but some will go higher). If you do not have a baking stone, you can use the back of a sheet pan, but do not preheat the pan.

6. Generously dust a peel or the back of a sheet pan with semolina flour or cornmeal. Make the pizzas one at a time. Dip your hands, including the backs of your hands and knuckles, in flour and lift I piece of dough by getting under it with a pastry scraper. Very gently lay the dough across your fists and carefully stretch it by bouncing the dough in a circular motion on your hands, carefully giving it a little stretch with each bounce. If it begins to stick to your hands, lay it down on the floured counter and reflour your hands, then continue shaping it. Once the dough has expanded outward, move to a full toss as shown on page 208. If you have trouble tossing the dough, or if the dough keeps springing back, let it rest for 5 to 20 minutes so the gluten can relax, and try again. You can also resort to using a rolling pin, though this isn't as effective as the toss method.

7. When the dough is stretched out to your satisfaction (about 9 to 12 inches in diameter for a 6-ounce piece of dough), lay it on the peel or pan, making sure there is enough semolina flour or cornmeal to allow it to slide. Lightly top it with sauce and then with your other top- pings, remembering that the best pizzas are topped with a less-is-more philosophy. The American "kitchen sink" approach is counterproductive, as it makes the crust more difficult to bake. A few, usually no more than 3 or 4 toppings, including sauce and cheese is sufficient.

8. Slide the topped pizza onto the stone (or bake directly on the sheet pan) and close the door. Wait 2 minutes, then take a peek. If it needs to be rotated 180 degrees for even baking, do so. The pizza should take about 5 to 8 minutes to bake. If the top gets done before the bottom, you will need to move the stone to a lower self before the next round. if the bottom crisps before the cheese caramelizes, then you will need to raise the stone for subsequent bakes.

9. Remove the pizza from the oven and transfer to a cutting board. Wait 3 to 5 minutes before slicing and serving, to allow the cheese to set slightly.

Makes six 6-ounce pizza crusts.

from The Bread Baker's Apprentice by Peter Reinhart (Ten Speed Press) - reprinted with permission

via 101cookbooks.com

I am going to try this recipe this weekend! I just bought a new pizza stone and I am all about this......

Dividend Growth Investor: The case for dividend investing in retirement

There are over 60 million baby boomers in the US, most of which will retire over the next two decades. Most of them will generate income in retirement through social security, while some of the lucky ones will also enjoy a pension provided by their employers. Some boomers might also have some amount of money that they want to learn how to invest, in order to generate income in retirement.

Financial Advisers typically offer the four percent rule as a solution for managing ones money in retirement. This method assumes that investors will rely on total returns in order to monetize their portfolio for living expenses. According to the four percent rule, investors would spend four percent of their portfolio in year one of retirement, followed by an increase in distributions by factoring in inflation. For example, an investor with a $1 million portfolio invested in index funds and US treasury bonds would sell $40,000 worth of assets in year one. If we assume an annual inflation rate of 3% per year, in year 2 our investor would have to sell $41,200 worth of assets from his or her portfolio. The danger of this method is that it requires total returns each year in order to grow your portfolio, and avoid eating/spending your principal. Otherwise investors could end up depleting their asset base and might not be able to enjoy retirement for long.

One of the best kept secrets in retirement investing seems to be dividend stocks. Dividend investors receive positive feedback in the form of dividends every time they receive a dividend payment. In fact, as long as the company they purchased is stable and grows distributions out of rising earnings, dividend investors could care less about volatility in the stock market altogether. An investor relying on the four percent rule will feel the pain of selling his assets during bear markets and would fear that their account would be depleted sooner than expected. Many investors that have followed the traditional retirement path over the past decade have much lower networths and income today after the dot-com and the financial bubbles burst. Investors in dividend stocks on the other hand who only spent their dividend checks, could afford to ignore stock prices.

The benefit of dividend stocks, is that over time dividends increase at a rate that is two percent higher than the rate of inflation. This makes them a must own asset class not only for the retired investor who needs income for the next three or four decades, but also for the investor who expects to retire in 30 or 40 years. Fixed income like bonds for example, will pay a fixed interest payment every year, which will certainly lose its purchasing power over time. This could mean downgrading your lifestyle from eating caviar at the onset of your retirement to endulging on cat good at the end of it. In addition to that, if the world economy does well over the period you are invested, chances are that your untouched principal invested in quality dividend stocks would appreciate as well, matching or exceeding the rate of inflation.

Dividend investing was a widely followed strategy to obtain income until the bull market of 1980’s and 1990’s, when growth stocks were all the rage. In order to be successful at dividend investing and create a lasting stream of dividend income, retirees should follow a few simple principles.

First and foremost, investors should pick companies whose business they understand. In addition to that investors should purchase stock in equities that have solid competitive advantages and a sound business model which could afford to not only maintain but also grow earnings over time. This would allow companies to raise dividends over time, which would inflation proof your dividend income in retirement.

Second, investors should diversify their risk and avoid being concentrated in a certain sector, even if it produces high yields on the surface.

Third, investors should avoid paying top dollar for dividend stocks. If you cannot justify a high price, then either wait on the sidelines for the price to get lower or buy another stock that is cheaper.

Fourth, investors should pick stocks that have sustainable dividend payments. This means that the dividend is adequately covered from earnings, and that earnings per share are not more than twice the amount of dividends per share. The exceptions to the rule are certain pass-through entities such as master limited partnerships, real estate investment trusts and utilities.

At those exceptions investors should make a trend of distributions relative to cash flows or to earnings in order to determine the sustainability of the payout. Dividend sustainability is important, because if a company distributes a dividend which it cannot afford to pay, it would cut or eliminate the payment. This would be a blow to your portfolio dividend income, and might set you back in your goals.

The companies that meet the criteria above include:

Medtronic, Inc. (MDT), which manufactures and sells device-based medical therapies worldwide. The company is a member of the dividend champions index and has raised distributions for 33 years in a row. Yield: 2.60% (analysis)

Johnson & Johnson (JNJ) engages in the research and development, manufacture, and sale of various products in the health care field worldwide. The company operates in three segments: Consumer, Pharmaceutical, and Medical Devices and Diagnostics. The company is a member of the dividend aristocrats index and has raised distributions for 48 years in a row. Yield: 3.40% (analysis)

The Procter & Gamble Company (PG) provides consumer packaged goods in the United States and internationally. The company operates in three global business units (GBUs): Beauty and Grooming, Health and Well-Being, and Household Care. The company is a member of the dividend aristocrats index and has raised distributions for 54 years in a row. Yield: 3.00% (analysis)

McDonald's Corporation (MCD), together with its subsidiaries, operates as a worldwide foodservice retailer. It franchises and operates McDonald's restaurants that offer various food items, soft drinks, coffee, and other beverages. The company is a member of the dividend aristocrats index and has raised distributions for 34 years in a row. Yield: 3.10% (analysis)

The Coca-Cola Company (KO) manufactures, distributes, and markets nonalcoholic beverage concentrates and syrups worldwide. It principally offers sparkling and still beverages. The company is a member of the dividend aristocrats index and has raised distributions for 48 years in a row. Yield: 2.80% (analysis)

These companies are just a starting block in building a lasting dividend portfolio. Investors should look for stocks with similar characteristics as they strive to create a diversified portfiolio of at least 30 stocks.

Full Disclosure: Long all stocks listed above

Relevant Articles:

- Four Percent Rule for Dividend Investing in Retirement
- Living off dividends in retirement
- Why dividend investing beats US Treasuries today?
- Dividend Stocks for the next decade and beyond

More on this topic (What's this?)

How Much Do You Need to Invest For Retirement? (Learn Mining News, 12/6/10)

These Numbers Can't Be Correct (Random Roger's Big Picture, 12/9/10)

11 High Yield Dividend Champions With Staying Power (Scott's Investments, 12/6/10)

Read more on Retirement, Dividend Investing at Wikinvest

via dividendgrowthinvestor.com

I gotta tell you that this guy has nearly single-handedly turned me into a dividend stock investor. He posts very good stuff a couple of times a week and it's always worth a read.
It's funny, but I am kinda shy about posting a comment on his blog for fear of sounding like an idiot. Amazing. Well at least I can link to his site with a hearty recommendation.

AIG takes key step to pay off largest bailout - Yahoo! Finance

FILE - In this Sept. 17, 2008 file photo, the AIG logo is shown in New York. Bailed-out insurance conglomerate American International Group Inc. is taking a key step toward paying off a bailout that was at one point worth $182 billion _ the largest of the financial crisis. The company says in a public filing Wednesday, Dec. 8, 2010, that it will repay a loan from the Federal Reserve Bank of New York. (AP Photo/Mark Lennihan, File)

Related Quotes

Symbol	Price	Change
AIG	42.22	0.00

{"s" : "aig","k" : "a00,a50,b00,b60,c10,g00,h00,l10,p20,t10,v00","o" : "","j" : ""}

Daniel Wagner, AP Business Writer, On Wednesday December 8, 2010, 7:11 pm EST

WASHINGTON (AP) -- Bailed-out insurance conglomerate American International Group Inc. is taking a key step toward paying off a bailout that was at one point worth $182 billion -- the largest of the financial crisis.

The company says in a public filing Wednesday that it will repay a loan from the Federal Reserve Bank of New York. AIG says that will clear the way for the Treasury to sell off the government's stake. Treasury's stake in AIG will temporarily rise from roughly 80 percent to 92 percent, as part of the deal.

During the height of the crisis, the New York Fed provided as much as $91 billion in credit to AIG. As of early December, AIG owed about $21 billion.

Treasury officials would not comment on the government's planned sales of AIG shares. They said the shares will be sold to maximize taxpayer profits and minimize the risk of loss.

"Today's announcement is a milestone in the government's long-stated efforts to exit our investments in private companies as soon as practical while protecting taxpayers," Treasury Acting Assistant Secretary for Financial Stability Tim Massad said in a statement. "When all is said and done, we believe taxpayers will recover every dollar invested in AIG and stand a good chance of making a profit."

AIG became a symbol for excess risk on Wall Street during the crisis that peaked in late 2008. The company sold insurance-like protection against losses on mortgage bonds and other risky investments. When the value of those investments dropped, AIG could not afford to cover the losses.

For months, the government expected to take massive losses on its investments in AIG. The nonpartisan Congressional Budget Office said last month that the rescue will cost taxpayers $14 billion.

Wednesday's filing moves the government closer to what Treasury officials expect will be a multibillion dollar profit.

AIG and Treasury first described the plan in September. Wednesday's filing marks the official signing of the deal by AIG, the New York Fed and Treasury.

The filing "marks an important step forward in our progress toward completely repaying taxpayers. We remain committed to executing the steps and meeting all conditions in the agreement as soon as possible," AIG said in a statement.

Treasury will convert its stake into about 1.66 billion shares, worth $70.09 billion, based on Wednesday's closing price. When the shares are sold, the proceeds will pay off Treasury's current $47.5 billion investment in AIG, plus another $22 billion that AIG will borrow to settle its obligations to the New York Fed.

The deal can't be completed until AIG proves its strength by raising money from private investors and regaining a top rating from credit agencies.

"We hope to be able to go to the market with a public offering of AIG this spring, but we have work to do to make that happen," AIG said in a statement. "We are working as diligently as we can to achieve this as quickly as possible, subject to market conditions."

Trading of AIG shares was halted Wednesday afternoon as news of the deal spread. AIG shares plummeted Wednesday by $1.73, or 4 percent, to $42.22 before trading was halted.

Once the deal is complete, AIG shareholders will receive warrants to purchase up to 75 million shares of AIG stock in 10 years at a price of $45.00 per share. Warrants are contracts that allow the holder to purchase stock for a set price on some future date.

Treasury also still holds warrants to purchase more AIG shares in the future.

AP Economics Writer Jeannine Aversa and AP Business Writer Pallavi Gogoi in New York contributed to this report.

Follo

via finance.yahoo.com

Okay, be honest. Everybody raise their hand that thought that this bailout wasn't going to be the biggest taxpayer ripoff in history two years ago.
All I have to say is, "Well I'll be damned". Nice work, fellas and ladies over there at AIG. I didn't think you had it in you quite honestly.
Well done.

7-towns-where-land-is-free: Personal Finance News from Yahoo! Finance

As small towns suffer from a continuing flight from rural toward-more urban living, some economic development groups and governments in these troubled areas have chosen to stay and fight.

More from CNBC.com: • Towns Where Land Is Free • Ghost Towns Seeing Signs of Life • Homes of the Future: Smaller Than You Think

The Homestead Act of 1862 is no longer in effect, but free land is still available out there in the great wide open (often literally in the great wide open). In fact, the town of Beatrice, Nebraska has even enacted a Homestead Act of 2010.

[Click here to check home equity rates in your area.]

As with the homesteaders of the 1800s, the new pioneers must not be the faint of heart—they can't be the type to shy away from the trials of building a home from the ground up, or the lack of Starbucks on every corner, or unpaved roads (extremely remote location and lack of infrastructure is probably what caused a well-publicized land giveaway in Anderson, Ark. to flop). If the Google Maps overhead view of the vast open space surrounding the modest street grids of these towns doesn't instill cabin fever, then read on—these parcels are up for land grabs.

Marne, Iowa

marneiowa.com

Marne is a southwestern Iowa community with a population of just 149 or so, about 60 miles from Omaha and 80 miles from Des Moines. It was never a big town (pop. 617 in 1875), but the head count really began declining around the turn of last century, through the teens and 20s. "The decline of the family farm affects rural areas like this, says Mayor Randy Baxter. "Back in the '60s and '70s, there more smaller farms, and small towns supported the folks in the country, but now those homes aren't there anymore."

In hopes of boosting that number, the Marne Housing and Development Corp has made four free lots available: 3 for private and 1 for commercial use. The first family to take advantage of the free land moved onto their new property the fall of 2008, also availing funds from the USDA's Rural Development Agency for building their home, and they qualified for $10,000 down payment assistance from the Southwest Iowa Planning Council.

To take advantage of the free land in Marne, applicants need only to submit a proposed floor plan for the house they want to build. It's not restrictive, but Baxter notes that it must be within reason-- no trailer homes, no horses or livestock. Among the unreasonable proposals for the land: "They want to bring a camper in hogs, or store junk there."

New Richland, Minn.

cityofnewrichlandmn.com

New Richland is a town of about 1200 in southern Minnesota, 75 miles from the outskirts of the Twin Cities, offering lake recreation and many fine churches. If this sounds like home, then consider a free 86' x 133' lot on the Homestake subdivision on the northwest side of town. Those who claim lots must build a house on the property within one year.

The land itself is free, but assessments for services provided by the town such as streets, curb and gutter, water and sewer. The fee for these is about $25,000, which suddenly sounds a lot less like "free," but through Tax Increment Financing this number is reduced to about $14,000 for qualified candidates, which is paid over 15 years on a semi-annual basis along with real estate taxes.

[See 15 Things You Shouldn't Be Paying For]

Kansas

rookscounty.net

Kansas has so much free land offered throughout the state by local Kansan governments and development groups that there's an online hub to organize all the information, the appropriately named Kansas Free Land.

"Most rural areas in Kansas have been declining in population since 1900, so rural Kansas communities either fight or disappear," says Jenny Russell, Republic County Economic Development Coordinator for Republic County in northern Kansas.

Her county has opted to fight. Republic County has a free land option available for the right industry and free residential lots throughout its communities for new home construction. Russell cites the area's rural advantages: very low overhead costs compared to cities, and "With developing technologies, businesses are now able to conduct their operations from almost anywhere."

Kansas Free Land links to more than a dozen communities, from Herndon, population 124, to Wilson, population 9698, each with their own offers and requirements.

Beatrice, Neb.

beatrice.ne.gov

One city in southeastern Nebraska that reaped the benefits of the original Homesteading Act of 1862 has created a new version of what worked so well before. The Homestead Act of 2010 offers several parcels of land for free on a first-come, first-served basis. As with the original act, applicants must occupy their parcels of land for five years.

With a population of about 12,564 and situated just 40 miles south of Lincoln (via the Homestead Expressway) and 99 miles from Omaha, Beatrice is one of the most populous and more accessible locations on this list. In this case, the aim is not to stave off the death of a town with a dwindling population, but to clean up neglected properties and get them to generate taxes and utility fees once again.

[See 10 Things Not to Buy in 2010]

Muskegon, Mich.

woodtv.com

Hoping to attract industrial employers, the city and county of Muskegon, Michigan, (pop. 174,344) launched Muskegon 25 .Under this program, companies that will bring in 25 full-time jobs or more will be granted industrial park property for building, complete with all services, gratis. In addition, the industrial parks are situated in low tax "Renaissance Zones."

Muskegon Area First is hoping to attract food processing industry, other suppliers for local industries, and alternative energy providers. New or existing companies creating 25 jobs are allotted five acres, 50 jobs get 12 acres, 75 jobs get 20 acres, and 100 or more jobs get 20 acres. The program also provides discounts at rates proportionate to the amount of jobs created. The 25-job companies are entitled to 50% off water and sewer bills, and the discounts increase from there, down to 20% of the full rate.

State business credits and other tax incentives are also available. To sweeten the deal further, the city will even throw in tickets to Lumberjacks hockey season tickets or a local boat slip to qualified participating companies.

Curtis, Neb.

curtis-ne.com

Curtis is known as Nebraska's Easter City due to its famed 40-year-old Easter Pageant tradition. This 3.266-square-kilometer community of approximately 832 persons in southern Nebraska's Medicine Valley has the Nebraska College of Technical Agriculture and an airport three minutes away.

Sound good? All righty, then: Curtis offers two options for free-land claimers. Consolidated Companies, Inc. created Roll'n Hills lots to boost the local economy by providing free sites on paved streets with all utilities for single-family homes. Three of those lots now have occupied homes, says Ed Coles of Consolidated, and nine remain.

Additional free lots are available through the city of Curtis that overlook the all-grass nine-hole Arrowhead Meadows Golf Course, which is one of the best public courses in the state—at least according to Medicine Valley's economic development website.

Camden, Maine

freelandinmaine.org

Camden is the coastal exception in this otherwise-landlocked list of free land locales. The charming New England berg of about 4,052 citizens is offering 3.5 acres of land near Camden Harbor for a business that will create at least 24 jobs .The former industrial site on the Megunticook River, refurbished by the Town of Camden, comes equipped with 3 Phase Power, Sewer, Water, Cable, Broadband, and parking is available for up to 300.

Clearly, this is a prime deal for the right company. The Town of Camden is hoping for a company from industries such as biotech, information technology, financial services, medical labs, film, or green businesses. In fact, those last two listed industries are encouraged, as creative economy employers are encouraged and environmentally friendly businesses are given preference in this search.

via finance.yahoo.com

Well, I guess there is always free land......in Iowa or Kansas. Too bad there's no land giveaway in Alaska.