Money Saving Consumer Tip
Use your time on the internet to learn skills that can save you and your family money. There are many skills the ordinary individual can put into action around your home. Learning to change the oil on your cars alone can save several hundred dollars a year. The making of a great pizza from scratch in your own kitchen is another way to save big while maintaining the Friday night pizza tradition. Taking the time to study how to cut hair for yourself, your spouse and your children is a skill that others may want to take advantage of too. Finally, learning how to make gift items can be rewarding as well as economical. Any number of craft sites offer instructions on making popular items for birthdays, anniversaries and holidays that have the added value of being made personally with the recipient in mind.
Business Bankruptcy
Jack-In-the-Box Corporation was stunned by the filing Chapter 11 bankruptcy protection on Friday September 18, 2009 by Abe Alizadeh of Kobra Associates, Inc who owns and operates 70 Jack in the Box franchises spread through nearly every town and city in Northern California. Six of the franchises were located in Sacramento alone. The $1.5 million owed in back state taxes is only part of the reason Alizadeh closed the doors of all his restaurant locations on Thursday and reopened them on Friday under protection from creditors including The State of California an insurance company, utilities and the Jack in the Box Corporation itself. Non-payment of real estate loans in 2008 was the beginning of the 2006 Franchisee of the Year and Chairman of the National Association of Jack in the Box franchisees unraveling. Creditors started suing for nonpayment and construction on two of Kobra Properties, Inc, Alizadeh’s real estate development firm, construction projects were stopped in 2008. Another instance of credit being extended beyond the financial ability pay that adherence to prudent lending practices would have prevented.
Financial Services News – Federal Deposit Insurance Corp. Fund Slips Below Mandated Minimum
The 95 banks that have failed so far in 2009 that were FDIC insured have drawn the fund down to below the Congressional mandated minimum. FDIC Chairman Sheila Bair announced Friday that bank regulators will be meeting in the last part of September to review ways to rebuild the fund. Where earlier in the year the Chairman was noncommittal about accessing the expanded line of credit from the U.S. Treasury with the number of banks expected to fail before the end of the year being over 100 the option is on the table, among others. Chairman Bair has stated that there are lesser-known methods to raise money for the fund that will also be discussed. Although the agency states it has $42 billion available in addition to the current insurance fund balance of $10.4 billion much more is projected to be needed to cover the insured losses over the next couple of years. Bad commercial investments are expected to cause the collapse of many more banking institutions through 2012.
Coastal Credit Solutions, Inc. operates a financial market place that matches Consumers and Businesses with debt eliminating and/or alternative financing service providers. If you have over $5,000 personal or business credit card debt or are seeking small business financing, please call us 866-205-8370 for a FREE no obligation consultation.
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