Mortgage-only defaulters are less likely to then default later on new car loans or credit cards.
People who have defaulted only on their mortgages and no other debts are not as risky as expected, according to a new study from credit monitor TransUnion.
Continue reading… “People Who Default Only on Their Mortgages May be Safe Credit Risks: Study”
IBM overtakes Microsoft
IBM overtakes Microsoft to become the second most valuable technology company in the U.S., ending a 15-year reign for the software giant.
Continue reading… “IBM Now Worth a $1 Billion More Than Microsoft”
Samsung’s new phone is the first to use Barclaycard and Orange’s ‘Quick Tap’ payment technology.
Orange and Samsung have teamed-up with Barclaycard to provide mobile phone payments with the new “Quick Tap” payment technology.
If you are a first-timer these are great tips.
An angel investor used to be defined as someone with a high net worth. They typically have more than $1 million and privately invest money in startup businesses that are seeking capital. The SEC restricts investing in private deals to mostly accredited investors. I say mostly because there are some opportunities for non-accredited investors to participate on a limited basis. The definition of an accredited investor in the U.S. is a person who either has a net worth (excluding a primary residence) of $1 million, an income of $200,000 per year for the last two years, or $300,000 in household income per year for the last two years.
Angel investing has gained a lot of popularity despite anxieties over the bubble bursting. You need to understand what you are getting into before making that first investment. The general rule is that you shouldn’t invest more than 10% of your net worth, since startups can be risky. Investments typically range from $25K to $250K, but with startups needing less capital to launch these days, the amounts are shrinking…
Continue reading… “6 Important Tips for First-Time Startup Investors”
The rich are back to pre-recession-style splurging.
A wider wedge is being driven between the wealthy and everybody else due to high gas prices. The rich are back to pre-recession-style splurging: Saks Fifth Avenue and Nordstrom customers are treating themselves to luxury items like $5,000 Hermes handbags and $700 Jimmy Choo shoes, and they’re paying full price.
Continue reading… “Gas Prices Widening Gap Between Wealthy and Everyone Else”
The world’s largest retailer reported the eighth consecutive quarterly decline at its US stores.
Wal-Mart admits it has been struggling to persuade shoppers to buy much beyond the necessities, as rising food and gas bills hit the spending power of US consumers.
The Fed rule on debit card fees could have far-reaching effects on how consumers spend and save.
The debit card battle between retailers and banks has reached epic proportions. The plan by lawmakers is to slash the fees retailers pay banks every time a shopper uses a debit card. Both sides are spending millions of dollars to convince lawmakers that they’re looking out for average Americans.
Continue reading… “What Effect Will the Cut in Debit Card Fees Have on Consumers?”
Sales tax is a a system that is now on the verge of collapse
Futurist Thomas Frey: As a general rule, extreme levels of complexity take a significant toll on society. The price we pay for complexity is far greater than the money involved. With upwards of 90,000 separate taxing districts in the U.S. sales tax has become an overly complicated system deeply entrenched in the fabric of society, but woefully out of touch with the times.
Continue reading… “Reinventing Sales Tax”
In the future, paper money may be displaced with digital points of a vendor.
Karl Dakin: The subject of how we will be paid and make payments in the future was presented at the DaVinci Institute’s Night with a Futurist on Monday night. The presentations covered potentially major changes in the way we conduct business and interact as a society as technological advances in mobile computing enable new ways of exchanging things of value.
Continue reading… “Predictions for money, currencies and payments”
Postal Service reports more that $2 billion in losses.
The U.S. Postal Service is continuing to lose money, reporting a loss Tuesday of more than $2 billion over the first three months of the year and warning it could be forced to default on federal payments.
Continue reading… “Billions in Losses Reported By the Postal Service”
Futurist Thomas Frey: Former Citigroup Chairman Walter Wriston once said, “Capital goes where it’s welcome and stays where it’s well treated.”
Philanthropy has traditionally been the interface between wealth and need. It gives pride to the wealthy, give purpose to those without, and gives hope to the underprivileged.
Continue reading… “The Future of Philanthropy”
A group of Russian tax officials is alleged to have helped steal $230m (£140m) from the Russian state in an elaborate tax fraud.
Authorities in Switzerland are reported to have frozen dozens of bank accounts belonging to Russian tax officials. This is part of a criminal investigation into claims that the funds on them are derived from the biggest tax fraud in Russian history. The Swiss authorities began investigating after UK investment fund Hermitage filed a complaint against a group of Russian tax officials it alleged had helped steal $230m (£140m) from the Russian state in an elaborate tax fraud.
By delving into the futuring techniques of Futurist Thomas Frey, you’ll embark on an enlightening journey.
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