Your tax dollars at work?

By Denise Ross If you can believe Rapid City property developer Doug Hamilton -and that does seem to be a big “if” - our tax dollars helped fund ... of his loan defaults, bounced checks and his bad business debt that stretches into the 10s of millions. ($18M in foreclosures so far, and possibly up to $45M in total debt, he says.) It all makes [more...]

Date: 2009-01-13 15:12:53

Blog posts (17) | Videos (26)
 

Thank you Taxpayer. Sincerely, Merrill Shareholders

From the Wall Street Journal In the end, investors and financial institutions could face as much as $2 trillion of losses from bad U.S ... from commercial real estate, credit cards, auto debt and business debt, and Goldman’s loan-loss estimate ... rescued both Merrill and Countrywide without government assistance. Mr. Lewis had also argued [more...]

Date: 2009-01-15 09:02:01

Show me the money

A good friend and entrepreneur was chatting with me on her phone, while in the post office checking her mail ... . She also includes information on how to make a payment online with a credit card. On the due date ... . A recent study found that businesses wrote off $152.5 billion in bad debt in 2007, based on IRS [more...]

Date: 2008-07-15 13:24:04

Good Debt vs. Bad Debt

by Michael Geoffrey Yes, there is such a thing as good debt ... in the long run. * Student loans - Getting a college education is a good investment as well. By earning ... a start up loan for a business venture this can be good debt. Again you are borrowing in order to give [more...]

Date: 2009-01-14 20:09:45

New Brown plan; too little, too late

Now he comes, bestriding the country as a Colossus amongst men. Prime Minister Brown has a new plan, known as plan z1.1 or something ... to get this far, several bank failures and the future enslavement to debt repayment ... that the Government will do debt for equity swaps in small businesses. This is a very bad idea. Small [more...]

Date: 2009-01-14 00:01:00

Growing numbers avoiding or delaying paying tax

Growing numbers of people and businesses are avoiding or delaying paying taxes as the "credit crunch" bites, ... . The auditors estimate that up to 1.5 million working adults had a personal or business tax debt in April ... , introduced risk profiles on taxpayers to target those who could be bad payers and tailored debt collection [more...]

Date: 2008-11-20 08:28:37

Debt Collection Agency With the Most Successful Collections

Delinquent accounts result in millions of dollars of losses for businesses every year, ... , then the collection process needs to begin as soon as possible. A debt collection agency knows that the longer a debt ... meaning that they are always looking for ways to increase their bad debt recovery ratio to offset [more...]

Date: 2008-12-28 20:37:15

Goldman Sachs Predicts Loan Losses Will Top $2 Trillion

Despite all the hoopla about stimulus plans and bailouts rescuing Americans’ home equity and retirement accounts, ... — the losses that investors and financial institutions are potentially sitting on from bad loans… ... of $780 billion. Add in losses from commercial real estate, credit cards, auto debt and business [more...]

Date: 2009-01-15 23:05:05

How to run a small business

Seems that everyone’s interested in analytics these days — well, maybe not interested, ... in for a minute. The problem with most small businesses these days is that they don’t actually know whether ... includes advertising, fulfillment and expected returns, chargebacks, and bad debt), ad allowable [more...]

Date: 2009-01-15 13:35:57

Glam Media Blames Economy, Slows Down Payments To Publishers

Glam Media, the always interesting womens network (and now men’s network) is back in the news this morning ... of their business model is float management - making sure that they collect money before they pay it out to partners. If they pay too soon, they could get hit with bad debt when advertisers don’t pay. Pay later [more...]

Date: 2008-11-04 18:57:21

Asian Stocks Plunge Overnight

Asian Stocks Plunge Overnight By newsroom | - 12:21 am - Posted in Business News, Economy, Financial News, Stock Markets, ... , Germany’s biggest bank, on Wednesday reported a 4.8 billion euro ($6.4 billion) loss for the fourth ... bank earnings because of bad debt,” said Francis Lun, general manager of Fulbright Securities Ltd [more...]

Date: 2009-01-15 05:21:58

Is It A Good Or Bad Thing That So Many Companies Are Going Out Of Business?

What exactly will 2009 bring us in terms of businesses closing down for good? ... $2.56 trillion in consumer debt, with the average household’s credit card debt amounting to $8,565 ... filing for bankruptcy or are already in it, so we won’t know if some of them make [more...]

Date: 2009-01-06 14:00:00

Wash Post's Pearlstein: Anyone opposing the bailout is ignorant

(updated below - Update II) Washington Post business columnist Steven Pearlstein has spent the week insisting that only gross ignorance could ... -- our help keeping up the payments on their homes. If we do that, Wall Street's bad mortgage debt [more...]

Date: 2008-10-02 06:15:38

Media Digest 1/12/2009 Reuters, WSJ, NYTimes, FT, Bloomberg

According to Reuters, Citigroup (C) is near a deal to form a venture putting its brokerage business together with the one at Morgan ... reports that the UK and its major banks are working on a deal so that firms can dump bad debt. The Wall [more...]

Date: 2009-01-12 09:07:45

Good News - Post Office to Layoff Only 40,000 Workers. Bad Time to Be In Delivery Business.

A friend called to tell me about the latest buzz of the postal service laying off 40,000 workers ... From Debt Collection, the Debt Collector, and Creditors I’m Afraid I’m Going To Get Laid Off. How ... of the country’s 1,300 post offices would be closed. According to the APA news agency, the company’ [more...]

Date: 2008-11-11 21:16:24

Eurozone and India: Policy Parallels

I’ve had a chance, over the past 10 days, to debate the details of what’s next for the macroeconomy with leading policymakers in both the ... it is already doing, given that government debt levels are already on the high side. The discordant note ... is already in bad shape. Sectors such as real estate and autos are hurting badly. Small businesses [more...]

Date: 2009-01-13 22:56:38

Bad Debtors Be Warned, You Are Being Watched!

As the recession takes a hold more and more people are struggling to repay debt. Personal debt in Britain is increasing at a dramatic rate and is now approaching the 1.4 trillion pounds mark. However for one sector, business is booming. These are the private investigators charged with tracking down non payers of debt. “Why should people get away with not paying?” says a spokesperson for the Bankruptcy Advisory Service, which counsels bad debtors. [more...]

Date: 2009-09-11 01:50:50

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