Cape Coral Now

Realtors oppose high downpayment requirement

noreply@blogger.com (Rick Swift) — Sun, 03 Apr 2011 14:20:00 +0000

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Realtors oppose high downpayment requirement

WASHINGTON – March 30, 2011 – High downpayment requirements being proposed by federal regulatory agencies will unnecessarily burden homebuyers and significantly impede the economic and housing recovery, according to the National Association of Realtors®. Rule changes are mandated under the Dodd-Frank Wall Street Reform and Consumer Protection Act.
Six agencies – the Department of Housing and Urban Development, Federal Deposit Insurance Corp., Federal Housing Finance Agency, Federal Reserve, Office of the Comptroller of the Currency, and the U.S. Securities and Exchange Commission – are developing risk retention regulations that requires lenders to retain 5 percent of a mortgage’s credit risk unless the mortgage is a qualified residential mortgage (QRM) –(FHA and VA mortgages would also be exempted.) Currently, the definition of a QRM is being debated.
“As the leading advocate for homeownership, NAR supports a reasonable and affordable (downpayment) coupled with quality credit standards, strong documentation and sound underwriting,” said NAR President Ron Phipps. “A narrow definition of QRM, with an unnecessarily high downpayment requirement, will increase the cost and reduce the availability of mortgage credit, significantly delaying a housing recovery.”

http://www.floridarealtors.org/NewsAndEvents/article.cfm?id=257422&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+floridarealtors+%28Florida+Realtors%29

Court OKs $624M payout to Countrywide investors

noreply@blogger.com (Rick Swift) — Tue, 01 Mar 2011 12:18:00 +0000

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Court OKs $624M payout to Countrywide investors

LOS ANGELES – Feb. 28, 2011 – A federal judge on Friday approved a $624 million settlement in a lawsuit brought by several New York public pension funds against fallen mortgage giant Countrywide Financial Corp.
The settlement, a version of which was had been originally hammered out last year, also calls for KPMG, Countrywide’s accounting firm, to pay $24 million of the total.
In their lawsuit, the New York State Common Retirement Fund and five New York public pension funds claimed that Countrywide hid how risky its business had become during the housing market’s boom years.

it’s not immediately clear how much the New York funds or other Countrywide investors will receive, New York City Law Department spokeswoman Connie Pankratz said late Friday.
Still, New York officials touted the deal, calling it one of the largest securities fraud settlements in U.S. history.
“This settlement vindicates investors who were deceived by Countrywide’s involvement in sub-prime mortgage lending,” Thomas P. DiNapoli, New York state comptroller, said in a statement.
The settlement approved by U.S. District Judge Mariana Pfaelzer in Los Angeles wasn’t good enough for some Countrywide investors, however.
http://www.floridarealtors.org/NewsAndEvents/article.cfm?id=255407

Floridians still confident about economy for second month

noreply@blogger.com (Rick Swift) — Sun, 27 Feb 2011 13:07:00 +0000

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Floridians still confident about economy for second month

GAINESVILLE, Fla. – Feb. 23, 2011 – Consumer confidence among Floridians remained at 77 out of 100 in February, suggesting a sustainable and improved view of the economy, according to a new University of Florida (UF) survey.
The index rose seven points last month, an unexpected increase according to Chris McCarty, director of UF’s Survey Research Center in the Bureau of Economic and Business Research, considering the economic climate in Florida. However, he considers it noteworthy that the index didn’t change dramatically this month.
“We had expected a correction to last month’s seven-point increase in consumer confidence,” says McCarty. “A second month at this high level makes it much less likely that the increase for January was an aberration and more likely that consumers view the economy and their personal economic situation as having improved.”
McCarty said several factors contribute to Floridians’ increased optimism, and at the top of the list is the bull market in stocks that is lifting portfolios. Another factor, McCarty says, is that people nearing retirement age whose 401(k) accounts were almost halved by the recession have mostly recovered those losses.

http://www.floridarealtors.org/NewsAndEvents/article.cfm?id=255136&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+floridarealtors+%28Florida+Realtors%29

Battle over the mortgage interest deduction

noreply@blogger.com (Rick Swift) — Wed, 16 Feb 2011 11:29:00 +0000

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Battle over the mortgage interest deduction

WASHINGTON – Feb. 15, 2011 – President Obama’s budget proposes a lower mortgage interest deduction (MID) for high-income families, but the National Association of Realtors® (NAR) plans to fight any change, and a number of lawmakers who view it as a way to raise taxes also plan to oppose the increase.
According to testimony presented by the National Low Income Housing Coalition to a bipartisan deficit reduction commission, only about one-third of taxpayers itemize deductions. The commission later recommended that the deduction be changed to a 12 percent tax credit, with only interest on a debt up to $500,000 eligible.

http://www.floridarealtors.org/NewsAndEvents/article.cfm?id=254748&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+floridarealtors+%28Florida+Realtors%29

Clear signs of recovery

noreply@blogger.com (Rick Swift) — Tue, 15 Feb 2011 11:31:00 +0000

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Industrial market: Clear signs of recovery

SEATTLE – Feb. 11, 2011 – Coinciding with a noticeably improved United States office market, the national industrial property sector absorbed 28.6 million square feet of space during the fourth quarter of 2010, propelling what had been a net loss for the year into a solid gain, according to quarterly research on the U.S. industrial market from Colliers International Q4 2010 North America Industrial Highlights. According to Colliers, the growth likely heralds the beginning of the next up cycle for the industrial sector as demand for warehouse space – fueled by an increase in import and export activity and an improving consumer appetite for goods – is expected to rise.
A handful of markets – including Charleston, Cincinnati, Dallas-Ft. Worth, Inland Empire, Little Rock, New Jersey, Philadelphia, Phoenix and Savannah – saw a substantial jump in occupied space relative to their size and contributed nearly 70 percent of total occupancy gains. Because the sizable growth can be attributed to on a few markets, however, Colliers says expectations should still be tempered until the turnaround expands into additional markets.
http://www.floridarealtors.org/NewsAndEvents/article.cfm?id=254691&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+floridarealtors+%28Florida+Realtors%29

Chuck Pavlos, the former head of Public Works for the city - made his case.

noreply@blogger.com (Rick Swift) — Tue, 08 Feb 2011 11:50:00 +0000

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CAPE CORAL: Cape Coral's former Public Works director fired back to allegations his department wasn't doing its job during a city council meeting. It led to a contentious debate among the director, the city manager and the city council.
There was a packed house at Cape Coral's City Council meeting. During public comment, one citizen – Chuck Pavlos, the former head of Public Works for the city - made his case.
"The citizens of Cape Coral paid $20,000 for a report with a bunch of inaccuracies and unsubstantiated conclusions," he said.
Pavlos resigned as Public Works director last month after controversy erupted from a consultant report, alleging his department wasn't doing its job and spent more than a million dollars in taxpayer money that's unaccounted for.
http://www.nbc-2.com/Global/story.asp?S=13986947

Google drops sale property search feature

noreply@blogger.com (Rick Swift) — Sat, 05 Feb 2011 11:21:00 +0000

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Google drops sale property search feature

MOUNTAIN VIEW, Calif. – Jan. 27, 2011 – In July 2009, Google announced that users would be able to find for-sale or for-rent property through Google maps. However, the company switched directions yesterday, announcing that it would discontinue the service effective Feb. 10, 2011.
Brian McClendon, vice president, Google Earth and Maps, explained the decision online, calling the introduction of real estate searches part of Google’s philosophy to “take risks and to experiment.” However, the site did not reach Google’s expectations.

http://www.floridarealtors.org/NewsAndEvents/article.cfm?id=253533&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+floridarealtors+%28Florida+Realtors%29

U.S. Housing and Urban Development (HUD) Secretary Shaun Donovan awarded $71,389,061 in funding to keep 321 local homeless assistance programs in Florida

noreply@blogger.com (Rick Swift) — Fri, 28 Jan 2011 12:13:00 +0000

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WASHINGTON – Jan. 20, 2011 – U.S. Housing and Urban Development (HUD) Secretary Shaun Donovan awarded $71,389,061 in funding to keep 321 local homeless assistance programs in Florida operating in the coming year. The grants form a foundation for the Obama Administration’s Opening Doors strategy.
For a summary of the Florida grants announced today in PDF format, visit HUD’s website.
In a few weeks, thousands of volunteers in most U.S. cities and counties will conduct a national one-night count of homeless persons and families.
“There is a tremendous need on our streets and in our shelters among those experiencing both long-term homelessness as well as families confronting a sudden economic crisis,” said Donovan. “These grants are the life blood for thousands of local housing and service programs that are doing the heavy lifting to meet President Obama’s goal of ending homelessness.”
In June, 19 federal agencies and offices – the U.S. Interagency Council on Homelessness (USICH) – submitted a comprehensive strategy to prevent and end homelessness to the President and Congress called, Opening Doors: The Federal Strategic Plan to Prevent and End Homelessness. The plan’s stated goal is to end veterans’ and chronic homelessness by 2015; and to end homelessness among children, families and youth by 2020.
http://www.floridarealtors.org/NewsAndEvents/article.cfm?id=253189&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+floridarealtors+%28Florida+Realtors%29

Fla. economist: ‘We’re in recovery’

noreply@blogger.com (Rick Swift) — Mon, 24 Jan 2011 16:21:00 +0000

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Fla. economist: ‘We’re in recovery’

MANATEE COUNTY, Fla. – Jan. 21, 2011 – Economist Hank Fishkind told about 400 Manatee County leaders that Florida’s recovery is in its early stages even if it doesn’t seem like it to some people.

Calling it the “worst recession, probably, since the Great Depression, and at least the worst since 1975,” Fishkind said, “This is the recovery – right now,” Fishkind said. “The momentum is growing.”

Fishkind spoke at an “Economic Forecast Breakfast” sponsored by Whitney Bank and the Manatee Economic Development Council. As evidence of the ongoing recovery, Fishkind pointed to recent improvements, including:

• Job growth in the tourism and convention industries

• Job growth in education

• Strong retails sales at the close of 2010

• Consumer belief that it’s safe to spend money

• $500 billion boost from a 2 percent cut in payroll taxes

Fishkind also expects retirees to return to Florida’s warm shores, but “there is a discernible lag between recovery and population growth,” Fishkind said. “It takes time for people to realize there is a recovery.”

For a true turnaround, however – the kind that everyone sees and appreciates – Fishkind says the state must wait until 2012.

Source: Michael Pollick, Sarasota Herald Tribune, Jan. 20, 2011

Pending home sales rose again in November, according to the National Association of Realtors®,

noreply@blogger.com (Rick Swift) — Tue, 11 Jan 2011 11:17:00 +0000

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2011 prediction: Slow real estate recovery

WASHINGTON – Jan. 3, 2011 – Pending home sales rose again in November, according to the National Association of Realtors®, which says a gradual improvement has been the trend for past five months, indicating a gradual recovery into 2011.
The Pending Home Sales Index (PHSI), a forward-looking indicator, rose 3.5 percent to 92.2 based on contracts signed in November from a downwardly revised 89.1 in October. The index is 5.0 percent below a reading of 97.0 in November 2009. The data reflects contracts and not closings, which normally occur with a lag time of one or two months.
Lawrence Yun, NAR chief economist, said historically high housing affordability is boosting sales activity. “In addition to exceptional affordability conditions, steady improvements in the economy are helping bring buyers into the market,” he said. “But further gains are needed to reach normal levels of sales activity.”
http://www.floridarealtors.org/NewsAndEvents/article.cfm?id=251948&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+floridarealtors+%28Florida+Realtors%29

Rick Scott GREAT SPEECH TODAY BEGINS JOB CREATION

noreply@blogger.com (Rick Swift) — Wed, 05 Jan 2011 12:05:00 +0000

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GREAT SPEECH YESTERDAY, HIS 1ST PRIORITY ! JOBS IN FLORIDA , and also looks like red tape will be on the chopping block for small business . Let's get behind him and welcome new business to our area, more jobs the faster we dig out of a sluggish economy.

Republican Rick Scott took oath to become Florida's 45th governor.
The 58-year-old Naples multimillionaire promises to get to work to begin accomplishing some of his campaign promises of bringing new jobs to Florida in the next seven years. His mark is 700,000 jobs, bold and refreshing

Richard Lynn "Rick" Scott (born December 1, 1952) is an American politician and businessman who is the current Governor-elect of Florida. Having defeated Bill McCollum in the Republican primary election, Scott defeated Democrat Alex Sink in a close race in the 2010 Florida gubernatorial election.

Scott served in the U.S. Navy and then went into business. He earned a business degree and law degree and joined a Dallas firm where he became partner. In 1987 he helped found the Columbia Hospital Corporation with two business partners; this merged with Hospital Corporation of America in 1989 to form Columbia/HCA and eventually became the largest private for-profit health care company in the U.S. He was forced to resign as Chief Executive of Columbia/HCA in 1997 amid a scandal over the company's business and Medicare billing practices; the company ultimately admitted to fourteen felonies and agreed to pay the federal government over $600 million.Scott later became a venture capitalist, and entered into politics in 2010, when he announced his intention to run for Governor of Florida.

http://en.wikipedia.org/wiki/Rick_Scott

Winter started dec 21 at 6:38 p.m.did you see the lunar eclipse, boy is it cold in southern florida!!

noreply@blogger.com (Rick Swift) — Mon, 27 Dec 2010 13:57:00 +0000

Image via Wikipedia

IT SURE FEELS LIKE WINTER!!

http://www.capecoralnow.net/ Today starts the first day of winter, seems to me like it started 2weeks ago. It's been so cold. Did you see the lunar eclipse this morning? That is a rare event i think the last time was about 372 yrs ago and the next one will be in about 85 yrs.
A lunar eclipse occurs when the moon passes behind the earth so that the earth blocks the sun's rays from striking the moon. This can occur only when the Sun, Earth, and Moon are aligned exactly, or very closely so, with the Earth in the middle. Hence, there is always a full moon the night of a lunar eclipse. The type and length of an eclipse depend upon the Moon's location relative to its orbital nodes. The most recent total lunar eclipse occurred on December 21, 2010 at 0817 UTC
http://en.wikipedia.org/wiki/Lunar_eclipse

HOPE YOUR HOLIDAYS ARE SPECIAL, THE WEATHER WILL BE COLD FOR A FEW MORE DAYS, THEN BACK TO NORMAL ABOUT THURSDAY . LET'S GET READY FOR A HAPPY NEW YEAR!!

When is the cutoff for Holiday Mail for Servicemembers Serving Overseas

noreply@blogger.com (Rick Swift) — Tue, 14 Dec 2010 12:50:00 +0000

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Holiday Mail for Servicemembers Serving Overseas

Mail sent to overseas military addresses is charged domestic postage rates. The rate for the Priority Mail large flat rate box to APO (Army Post Office)/FPO (Fleet Post Office) addresses overseas is $12.50.

The U.S. Postal Service (USPS) is offering free Military Care Kits, designed specifically for military families sending packages overseas. The mailing kits can be ordered by calling 1.800.610.8734. Each kit includes two America Supports You large Priority Mail flat rate boxes, four medium-sized Priority Mail flat rate boxes, six Priority Mail labels, one roll of Priority Mail tape and six customs forms with envelopes.

The recommended mailing date for the most economical postage to overseas military destinations, including Iraq and Afghanistan, is November 12. To view mailing deadline dates that will ensure the delivery of holiday cards and packages to APO/FPO addresses overseas by December 25 or for more information about sending holiday mail, please visit the Postal Service web page, Shipping Out the Holidays to Military Heroes.

http://answers.usa.gov/system/selfservice.controller?CONFIGURATION=1000&PARTITION_ID=1&CMD=VIEW_ARTICLE&ARTICLE_ID=12332&USERTYPE=1&LANGUAGE=en&COUNTRY=US

--------------------------------------------------------------------------------
America Supports You is a United States Department of Defense program that provides opportunities for citizens to show their support for the U.S. armed forces. The program was launched in 2004 in an effort to highlight citizen support for U.S. military men and women.

America Supports You connects individuals, organizations, and companies to hundreds of non-profit support groups, called homefront groups, offering a variety of support services to the military community. The homefront groups provide support in many ways, including writing letters and e-mails, sending care packages, offering scholarships, and helping wounded service men and women when they return home. The America Supports You program also connects military service members and their families to homefront groups that provide assistance.
Dozens of corporations, recognized on the program’s website, are also America Supports You supporters.
http://en.wikipedia.org/wiki/America_Supports_You

Everyone getting ready for old Saint Nick? Have you done all your shopping yet?

noreply@blogger.com (Rick Swift) — Mon, 06 Dec 2010 14:45:00 +0000

http://www.capecoralnow.net/
Everyone getting ready for old Saint Nick? Have you done all your shopping yet? Are you planning something special this year and is it special to you and someone else? That always make the holiday better if it's with someone else. I HAVEN'T EVEN STARTED YET, but will get going this week, wife, kids, grandkids, all need a good holiday. I always think that things are going bad ,lifes unfair or why me, then i read an e-mail or see a article of someone less fortunate, Then i pray to the lord that someone will help the person with what ever they need. Do you ever dream of winning the lottery and you will make the difference in someone's life, and yours to. Well you know the old saying if you don't play you can't win. So play the game of life and buy a present under the tree for someone, Perkins restuarants has a tree, toys for tots, salvation army has kettles. My family went north for the thanksgiving holiday,this past week, my 3yr old granddaughter wished that she would see snow, make a snowman, and a snow angel. Well her wish came true, good old Buffalo,N.Y. came through oh yeh that was GOD how we forget. pray! be around family! do something special for someone! OH AND DON'T FORGET YOUR LOTTERY TICKET be someones snow angel.

Get ready to have a great christmas holiday!! You can make it the way you want be

noreply@blogger.com (Rick Swift) — Wed, 01 Dec 2010 12:53:00 +0000

Image via Wikipedia

Get ready to have a great christmas holiday!! You can make it the way you want be. Do something to make it special.http://www.capecoralnow.net/

It’s Beginning to Look a Lot Like Tree Sales Trending Towards a Record Year

Despite the still shaky state of the economy, consumers are not cutting back on important family purchases, including Christmas trees, according to the American Christmas Tree Association (ACTA).
“Based on early season sales figures, our members are reporting significantly higher growth in the artificial Christmas tree sector than last year at this time,” said Jami Warner, Executive director of ACTA.
“While we don’t yet have sales figures for real trees because they are not yet available in retail locations, based on the information we have right now we believe that the Christmas tree industry in general will see a significant boost in sales this season,” Warner said.
The National Retail Federation recently predicted that Christmas sales overall will show improvement this year over last year. According to the National Retail Federation, consumers are showing they are once again willing to spend on what’s important to them, but will still be conscientious about price.

“Our members are very encouraged by these early sales figures that are higher than last season by double-digits,” said Warner. “Because Christmas trees are available in every conceivable size, shape, color and price point, consumers will not have to sacrifice the wonderful 500-year-old tradition of celebrating Christmas with a Christmas tree, even in this uncertain economy.

http://www.christmastreeassociation.org/

Consumer Confidence increases again

noreply@blogger.com (Rick Swift) — Wed, 01 Dec 2010 12:46:00 +0000

Consumer Confidence increases again

NEW YORK – Nov. 30, 2010 – The Conference Board Consumer Confidence Index, which had improved in October, increased even more in November. The Index now stands at 54.1, up from 49.9 in October. The Present Situation Index that measures current attitudes about the economy rose to 24.0 from 23.5. The Expectations Index that measures attitudes about the future increased to 74.2 from 67.5 last month.
“Consumer confidence is now at its highest level in five months, a welcome sign as we enter the holiday season,” says Lynn Franco, director of The Conference Board Consumer Research Center. “Consumers’ assessment of the current state of the economy and job market, while only slightly better than last month, suggests the economy is still expanding, albeit slowly. Expectations, the main driver of this month’s increase in confidence, are now at the highest level since May. Hopefully, the improvement in consumers’ mood will continue in the months ahead.”

http://www.floridarealtors.org/NewsAndEvents/article.cfm?id=250810&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+floridarealtors+%28Florida+Realtors%29

The U.S. Consumer Confidence Index (CCI) is an indicator designed to measure consumer confidence, which is defined as the degree of optimism on the state of the economy that consumers are expressing through their activities of savings and spending. Global consumer confidence is not measured. Country by country analysis indicates huge variance around the globe. In an interconnected global economy, tracking international consumer confidence is a lead indicator of economic trends.[1] http://en.wikipedia.org/wiki/Consumer_Confidence_Index

New fed initiatives to help foreclosures

noreply@blogger.com (Rick Swift) — Wed, 24 Nov 2010 10:14:00 +0000

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New fed initiatives to help foreclosures

WASHINGTON – Nov. 22, 2010 – The Department of Justice’s Access to Justice Initiative and Vice President Joe Biden announced a series of steps on Friday that the government will take to help middle class and low-income families secure their legal rights in a foreclosure. Those steps includes strengthening of foreclosure mediation programs, helping veterans secure the legal help they need, and making it easier for workers to find a qualified attorney when they believe their rights have been violated.
The announcement is the culmination of work between the Department of Justice’s (DOJ) Access to Justice Initiative and federal agencies like the Department of Labor (DOL), the Department of Housing and Urban Development (HUD), and the Department of Veterans Affairs (VA), and others.
http://www.floridarealtors.org/NewsAndEvents/article.cfm?id=250564&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+floridarealtors+%28Florida+Realtors%29

United States

Department of Housing and Urban Development

Seal of the Department of Housing and Urban Development

Agency overview

Formed September 9, 1965

Preceding agency Housing and Home Finance Agency

Jurisdiction Federal government of the United States

Headquarters Robert C. Weaver Federal Building, Washington, D.C.

Employees 10,600 (2004)

Annual budget $43.7 bil. (2010)

Agency executives Shaun Donovan, Secretary

Ron Sims, Deputy Secretary

Child agency Click here

Website

www.hud.gov

The United States Department of Housing and Urban Development, also known as HUD, is a Cabinet department in the Executive branch of the United States federal government. Although its beginnings were in the House and Home Financing Agency, it was founded as a Cabinet department in 1965, as part of the "Great Society" program of President Lyndon Johnson, to develop and execute policies on housing and metropolises.
http://en.wikipedia.org/wiki/United_States_Department_of_Housing_and_Urban_Development

entertainment news

noreply@blogger.com (Rick Swift) — Mon, 22 Nov 2010 11:42:00 +0000

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'Harry Potter' leaps to $125.1 million opening weekend

Daniel Day-Lewis in Ill. to prepare for 'Lincoln'

'Deathly Hallows' charms fans with $61 million in one day

Gokey helped get 'Idol' to Milwaukee for auditions

'Deathly Hallows' charms fans with $61M in one day

White powder sent to 'Dancing With the Stars'

FBI: Threatening letter with powder found at CBS

Michelle Obama and friends see 'Fela!' on Broadway

Palin's publisher sues Gawker over book excerpts

'American Idol' time slot change adds to upheaval

Read more: http://www.winknews.com/browser#ixzz160iweJCV

FIVE HOLIDAY SAVINGS TIPS YOU BLEW OFF LAST YEAR

noreply@blogger.com (Rick Swift) — Fri, 19 Nov 2010 12:56:00 +0000

FORT MYERS, Fla.-A great article just came out on yahoo.com called "The five holiday savings tips you blew off last year".
In today's Common Cents, we'll vow to do better this year. Even if you manage to do just two of these tips, you'll spend less.
A contributor at yahoo.com suggests you revisit last year's expenses. Dig up your credit card statements for a horrifyingly accurate account of the November-December damage. Challenge yourself to spend less or at least not more than last year.
Read more: http://www.winknews.com/Local-Florida/2010-11-17/Common-Cents-5-savings-tips-you-blew-last-year#ixzz15Xq4MMlU

Bush forgives Kanye West for calling him a racist

noreply@blogger.com (Rick Swift) — Wed, 10 Nov 2010 17:21:00 +0000

Cover of Decision Points

Bush forgives Kanye West for calling him a racist
great job MR. BUSH for being forgiving and not a hater we need more people to set the examples of good honest equallity in this nation . Thanks again for your service, and your love of our country

By Holly Bailey

It looks like George W. Bush and Kanye West have buried the hatchet—at least for now.
In a taped interview on NBC's "Today" show, the often-impulsive rapper told Matt Lauer that he now regrets having said after Hurricane Katrina that Bush "doesn't care about black people."
I would tell George Bush: In my moment of frustration, I didn't have the grounds to call him a racist," West said. "I believe that in a situation of high emotion like that, we as human beings don't always choose the right words."
In Bush's new memoir, "Decision Points," Bush calls the moment "disgusting" and the lowest ebb of his presidency.
http://news.yahoo.com/s//yblog_upshot/20101110/pl_yblog_upshot/bush-forgives-kanye-west-for-calling-him-a-racist/

second day of public hearing on oil spill and info on macondo prospect where the explosion took place

noreply@blogger.com (Rick Swift) — Tue, 09 Nov 2010 13:30:00 +0000

Updated Agenda: November 8-9 Hearing

The National Oil Spill Commission and its Chief Counsel Fred Bartlit will hold a two-day public hearing on preliminary findings regarding BP’s Macondo well blowout. The primary focus of the hearing will be on the causes of the rig explosion. An updated version of the agenda follows:

Monday, November 8, 2010 and Tuesday, November 9, 2010

Grand Hyatt Washington

1000 H Street NW, Washington, DC

Live video stream at http://www.oilspillcommission.gov/
(Doors open for media/camera setup at 6:30 a.m. both days)
Day 1

8:00 a.m. On-Site Registration

9:00 a.m. Call to Order

Christopher A. Smith, U.S. Department of Energy, Designated Federal Officer

Opening Remarks by Commission Co-Chairs Senator Bob Graham and William K. Reilly

9:15 a.m. Presentation by Chief Counsel Fred Bartlit

10:45 a.m. Break

11:00 a.m. Presentation by Chief Counsel Fred Bartlit

12:30 p.m. Lunch Break

1:30 p.m. Panel 1: Panel Discussion with BP, Transocean and Halliburton

Mark Bly, Executive Vice President of Safety & Operational Risk, BP

Bill Ambrose, Director of Special Projects, Transocean

John Gisclair, Insite Support Service Coordinator, Halliburton / Sperry Sun Drilling Service

Richard F. Vargo, Jr., Gulf of Mexico Region Manager—Cementing, Halliburton
3:00 p.m. Break

3:40 p.m. Panel 1 (cont.): Panel Discussion with BP, Transocean and Halliburton

5:45 p.m. Closing Remarks by Commission Co-Chairs Senator Bob Graham and William K. Reilly

6:00 p.m. Meeting Adjourns

Day 2
8:00 a.m. On-Site Registration
9:00 a.m. Call to Order

Christopher A. Smith, U.S. Department of Energy, Designated Federal Officer

Opening Remarks by Commission Co-Chairs Senator Bob Graham and William K. Reilly

9:15 a.m. Panel 2: Experts on Oil Well Drilling and Operations

Dr. E.C. Thomas, Consulting Petrophysicist and Owner, Bayou Petrophysics

Charlie Williams, Chief Scientist, Well Engineering and Production Technology, Shell Energy Resources Inc.

Steve Lewis, Advanced Drilling Technology Implementation Engineer, Seldovia Marine Services

Dr. John Rogers Smith, Associate Professor, Department of Petroleum Engineering, Louisiana State University

Darryl Bourgoyne, Director, Louisiana State University Petroleum Engineering Research and Technology Transfer Laboratory
10:45 a.m. Break
11:00 a.m. Panel 2 (cont.): Experts on Oil Well Drilling and Operations
12:30 p.m. Lunch Break

1:30 p.m. Panel 3: Regulation of Offshore Drilling

Dr. Walter Cruickshank, Deputy Director, Bureau of Ocean Energy Management, Regulation and Enforcement
2:00 p.m. Panel 4: Plans for Regulation

Michael Bromwich, Director, Bureau of Ocean Energy Management, Regulation and Enforcement
2:45 p.m. Break
3:00 p.m. Panel 5: Industry Safety Culture

Marvin Odum, President, Shell Oil Company, and Upstream Americas Director, Royal Dutch Shell

Rex Tillerson, Chairman and Chief Executive Officer, ExxonMobil
4:00 p.m. Questions and Wrap-Up with Chief Counsel Fred Bartlit & Senior Science and Engineering Advisor Richard Sears

4:40 p.m. Closing Remarks by Commission Co-Chairs Senator Bob Graham and William K. Reilly

4:45 p.m. Break
5:00 p.m. Public Comment
5:30 p.m. Meeting Adjourns
http://www.oilspillcommission.gov/meeting-5/meeting-details

The Macondo Prospect (Mississippi Canyon Block 252, abbreviated MC252) is an oil and gas prospect in the United States Exclusive Economic Zone of the Gulf of Mexico, off the coast of Louisiana. The prospect was the site of the Deepwater Horizon drilling rig explosion in April 2010 that led to a major oil spill in the region.

http://en.wikipedia.org/wiki/Macondo_Prospect

Hopefully China won't hold back on buying our bonds,after 600 billion buy of the Federal Reserve

noreply@blogger.com (Rick Swift) — Fri, 05 Nov 2010 10:33:00 +0000

For immediate release

Information received since the Federal Open Market Committee met in September confirms that the pace of recovery in output and employment continues to be slow. Household spending is increasing gradually, but remains constrained by high unemployment, modest income growth, lower housing wealth, and tight credit. Business spending on equipment and software is rising, though less rapidly than earlier in the year, while investment in nonresidential structures continues to be weak. Employers remain reluctant to add to payrolls. Housing starts continue to be depressed. Longer-term inflation expectations have remained stable, but measures of underlying inflation have trended lower in recent quarters.

http://www.federalreserve.gov/newsevents/press/monetary/20101103a.htm

Hopefully China won't hold back on buying our bonds .This would cause interest rates to rise and put a long term affect on bring our country back to a healthy nation again. This gives money back to the banks so they can borrow from each other and hopefully loosen up the credit for the big investors such as the banks and big business borrowers. Will this trickle down to the small business owners that create jobs, haven't we done this before and the banks tightened credit and you only got loans if you were clean and green and not on the edge of a loss.So a big business restructures their debt at a lower rate, but tightens up the job creations, and runs with less employees doing more till their debt load is more manageable. It's hard for the person who lost a job wants to get back into home ownership, because of short sale or foreclosure. They are not clean and green anymore, or less than desirable credit and would not qualify for a loan at the lower rate. So if the gov. insures the loan then the banks are more likely to make the loan, depending on the ability to repay the debt. This seems like we have done this before. What if China holds off buying more of our notes, and interest rates rise and gas , groceries, and other commodities rise, Does this makes sense? I certainly don't know for sure? but let's hope the Fed,banks and others have it right this time. JUST MY OPINION

congrats Rick Scott the new florida governor

noreply@blogger.com (Rick Swift) — Wed, 03 Nov 2010 15:01:00 +0000

Image by ScottForFlorida via Flickr

Rick Scott great time for change, the people have spoken. Let's start with those jobs. good luck and remember your promises.

Stalemate in Congress might not be bad for economy

noreply@blogger.com (Rick Swift) — Wed, 03 Nov 2010 13:08:00 +0000

By PAUL WISEMAN

AP Economics Writer

WASHINGTON (AP) - The Republicans' sweeping gains in Tuesday's elections hardly guarantee they can enact their own prescriptions for the ailing economy.
Despite their capture of the House and near-takeover of the Senate, Republicans will still lack the votes to ram through their agenda of new tax and spending cuts and looser regulation. Democrats, with their own economic ideas, will likely fight them to a draw.
Yet it may not matter. On its own, the economy is showing slow but steady improvement. Consumers and businesses are spending a bit more. Some companies are hiring. And most economists expect those gains to continue.
For both Democrats and Republicans, the inability to do much for the next two years may not be such a bad policy for the economy.
http://www.nbc-2.com/Global/story.asp?S=13436562

On Election Day, Democratic control is on the line

noreply@blogger.com (Rick Swift) — Tue, 02 Nov 2010 11:19:00 +0000

WASHINGTON -The Democratic Congress that enacted President Barack Obama's far-reaching health care law and plowed staggering sums into economic relief is at risk Tuesday in an election that promises to shake up the political order across the nation.

Republicans buoyantly forecast a new era of shared governance, two years after Democrats sealed victory in the presidency, the House and the Senate and set about reshaping the agenda in a time of severe recession and war. Democrats did not seriously dispute expectations that they would lose the House this time, even while campaigning through the final hours to stem losses.

His campaign travels over, Obama was taping interviews with radio hosts in Milwaukee, Cincinnati, Philadelphia, Honolulu and Miami as well as one with Ryan Seacrest of "American Idol" for his national radio show, all for broadcast Tuesday as Americans vote. In one interview he pulled back from earlier remarks calling Republicans "enemies" of Hispanics.
http://www.aolnews.com/story/on-election-day-democratic-control-is-on/1365444?cid=12