This week only one bank was seized. The seizure is the 45th US bank failure this year. On Friday May 3, 2011 Atlantic Bank and Trust, Charleston, South Carolina, was closed today by the Office of Thrift Supervision, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with First Citizens Bank and Trust Company, Inc., Columbia, South Carolina, to assume all of the deposits of Atlantic Bank and Trust.
The three branches of Atlantic Bank and Trust will reopen on Monday as branches of First Citizens Bank and Trust Company, Inc, Columbia, SC. Depositors of Atlantic Bank and Trust will automatically become depositors of First Citizens Bank and Trust Company, Inc. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship in order to retain their deposit insurance coverage up to applicable limits. Customers of Atlantic Bank and Trust should continue to use their existing branch until they receive notice from First Citizens Bank and Trust Company, Inc. that it has completed systems changes to allow other First Citizens Bank and Trust Company, Inc. branches to process their accounts as well.
The FDIC estimates that the cost to the Deposit Insurance Fund will be $36.4 million.
In addition NCUA (National Credit Union Association) announced that this past week that Valued Members Federal Credit Union, Jackson, MS was closed and it's assets were sold to Magnolia Federal Credit Union, Jackson, MS.
Valued Members was the ninth (9th) federally insured credit union liquidated so far in 2011. It was conserved by the NCUA in May after several difficult quarters.
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Discussing faith, business, personal finance, news (business and financial related), politics, and pretty much everything else.
Saturday, June 4, 2011
Friday, June 3, 2011
Unemployment Rose in May
According to Main Stream Media reports unemployment rose in May. According to reported numbers from the U. S. Department of Labor. The unemployment rate increased to 9.1 percent from 9.0 percent the previous month. This even though 54,000 new jobs were reportedly added.
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The United States added 54,000 nonfarm payroll jobs last month, following an increase of 232,000 jobs in April.The new jobs were far fewer then economists had been expecting as the had expected to see at least 150,000 new jobs last month.
Stephen Leslie, lead financial services analyst at the Economist Intelligence Unit, said the number of jobs added might be a more accurate economic indicator than jobless claims, because many discouraged workers might have stopped looking for jobs.Pretty weak? That is an understatement. We need new jobs now. We need all 7 million people to get back to work.
Leslie had expected job creation to be above 200,000 again in May, with significant additions in the manufacturing sector.
While the addition of at least 200,000 jobs each month moving forward might support positive GDP growth, it will take another 29 months to replace the 7 million jobs lost since the start of the economic crisis, Leslie said.
"We do not see a double-dip recession or hyper-inflation in the future, but we do think U.S. economic growth prospects are pretty weak," he said.
- ABC News
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Free Donuts for National Donut Day
I normally only do freebies on Saturdays. But since today (June 3, 2011) is National Donut this one couldn't wait. So here are the details below for the two (2) big Donut Chains.
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Krispy Kreme
WINSTON-SALEM, N.C., May 25, 2011 /PRNewswire/ -- On Friday, June 3, Krispy Kreme will give back to its guests by offering one FREE Krispy Kreme Doughnut on National Doughnut Day at participating retail locations.
National Doughnut Day was established in 1938 by The Salvation Army to raise funds to help people in need. In honor of the 73-year-old holiday, Krispy Kreme is once again giving each guest who visits a participating U.S. Krispy Kreme shop on June 3 one FREE doughnut of any variety. No purchase is necessary to redeem the offer.
"In honor of National Doughnut Day, we're inviting doughnut fans to stop by a local Krispy Kreme shop for a complimentary doughnut," says Ron Rupocinski, corporate chef of Krispy Kreme. "With several delicious, one-of-a-kind doughnuts to select from, including our signature Original Glazed®, you can pick your favorite or discover a new preferred sweet treat for FREE."
The free doughnut offer is good for one doughnut of any variety per customer at participating U.S. Krispy Kreme retail shops. Visit our store locator page at www.krispykreme.com to find a participating Krispy Kreme location near you.
For updates on special promotions, exclusive offers and local events, join "Friends of Krispy Kreme" by visiting www.KrispyKreme.com or interact with Krispy Kreme at www.facebook.com/KrispyKreme and www.twitter.com/krispy_kreme.
Dunkin’ Donuts
Canton, Mass. (May 26, 2010) – Dunkin’ Donuts, America’s all-day, everyday stop for coffee and baked goods, is making National Donut Day a little sweeter with a special free nationwide donut offer to help people celebrate the joy and fun of donuts. On June 4, 2010, participating Dunkin’ Donuts restaurants nationwide will offer every guest a free donut of their choice, with the purchase of any beverage, limit one per customer.---
Also on National Donut Day, Dunkin' Donuts will announce the winner of its second annual "Create Dunkin's Next Donut" contest. From nearly 90,000 donut creations submitted online, a dozen finalists traveled to Dunkin’ Donuts University in Braintree, Massachusetts earlier this month to compete in a bake-off competition before Dunkin’ Donuts’ culinary team and company leaders. One of the 12 finalists will win a $12,000 grand prize and have their winning donut sold in participating Dunkin' Donuts restaurants throughout the country.
National Donut Day, held the first Friday of June each year, was founded by the Chicago Salvation Army in 1938 to honor the women who served donuts to soldiers in World War I. According to John Costello, Chief Global Customer and Marketing Officer at Dunkin’ Brands, Dunkin’ Donuts is making it easy and affordable for people to enjoy this event. “Donuts have a special place in our country’s history and culture, creating moments of genuine delight and bringing people together at home, work and at play,” he said. “To celebrate this American classic snack, we invite everyone to visit Dunkin’ Donuts on National Donut Day to enjoy a free donut with any beverage purchase."
Dunkin' Donuts has led the donut category for 60 years, selling 2.5 million donuts and Munchkins® donut hole treats every day. To find a participating restaurant near you, visit https://www.dunkindonuts.com/aboutus/store/Search.aspx.
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Your Direction in the Stock Market is Determined by Others Moral Compass
The following is a guest post by Taylor Laurents.
Many of the most money-minded of us decide to build a stock portfolio over the course of our lives, or at least we did up until the recent economic crisis. It was in 2008 that even the most frugal of us, the most cost-efficient and financially responsible of investors, realized that no matter how careful and modest our decisions were, they were meaningless when those at the top were reckless. Wall Street used to be considered one of the safest places to put your money for a long-term investment strategy if you had the means to do so, but now, despite insiders and topsiders telling us the opposite, we don't have the confidence in the market that we used to.
But we shouldn't look past what is still a very smart place to put our money so long as it's evident that the top tier of stock exchange power is controlled by crooked con-men. These kinds of individuals will always plague our investment avenues and trading tactics. It's inevitable, and it always has been. If you don't think so, research the crash of 1929, the recession of the late 70's, and even the Great Famine of Ireland in the mid 1800s. The existence of economic villainy is eternal, and if you think the fate of your livelihood and even life matters to these folks, think again. But if you think you're powerless, think again, again.
The solution is in our hands. Are we going to allow a great way to live happily while still building up a retirement or college fund go to waste because of a few bad apples? That's ridiculous. We need to take a stand, and it's easier than it seems. You need to know who you're dealing with whenever you put money on the stock market, and do your research to know who, from your broker to Warren Buffet, has what kind of influence on your portfolio. Much of the fate of your investments is unfortunately out of your hands, but there are those out there who have influence and can help you but won't hurt you, or at least they make it an explicit promise not to. For instance penny stock aficionado Timothy Sykes's website TimothySykes.com features many a blog-entry wherein the guru flaunts a personal vendetta against most penny stock traders who he identifies as corrupt. People like this are popping up everywhere in the wake of the financial crisis, seizing the market of disenchanted investors and traders they want to help.
I can't reassure every fear that now sits in your belly as a result of the ruthlessly reckless behavior of those who operate the highest echelons of the stock exchange. But there's no reason why you shouldn't fight hard for the right to use it without having to accept that your money is at some point moving through dishonest hands. If you've looked past the stock exchange due to the risks, just remember that the crooks have enemies and those enemies can be your friends. Just always remember who you're dealing with.
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Many of the most money-minded of us decide to build a stock portfolio over the course of our lives, or at least we did up until the recent economic crisis. It was in 2008 that even the most frugal of us, the most cost-efficient and financially responsible of investors, realized that no matter how careful and modest our decisions were, they were meaningless when those at the top were reckless. Wall Street used to be considered one of the safest places to put your money for a long-term investment strategy if you had the means to do so, but now, despite insiders and topsiders telling us the opposite, we don't have the confidence in the market that we used to.
But we shouldn't look past what is still a very smart place to put our money so long as it's evident that the top tier of stock exchange power is controlled by crooked con-men. These kinds of individuals will always plague our investment avenues and trading tactics. It's inevitable, and it always has been. If you don't think so, research the crash of 1929, the recession of the late 70's, and even the Great Famine of Ireland in the mid 1800s. The existence of economic villainy is eternal, and if you think the fate of your livelihood and even life matters to these folks, think again. But if you think you're powerless, think again, again.
The solution is in our hands. Are we going to allow a great way to live happily while still building up a retirement or college fund go to waste because of a few bad apples? That's ridiculous. We need to take a stand, and it's easier than it seems. You need to know who you're dealing with whenever you put money on the stock market, and do your research to know who, from your broker to Warren Buffet, has what kind of influence on your portfolio. Much of the fate of your investments is unfortunately out of your hands, but there are those out there who have influence and can help you but won't hurt you, or at least they make it an explicit promise not to. For instance penny stock aficionado Timothy Sykes's website TimothySykes.com features many a blog-entry wherein the guru flaunts a personal vendetta against most penny stock traders who he identifies as corrupt. People like this are popping up everywhere in the wake of the financial crisis, seizing the market of disenchanted investors and traders they want to help.
I can't reassure every fear that now sits in your belly as a result of the ruthlessly reckless behavior of those who operate the highest echelons of the stock exchange. But there's no reason why you shouldn't fight hard for the right to use it without having to accept that your money is at some point moving through dishonest hands. If you've looked past the stock exchange due to the risks, just remember that the crooks have enemies and those enemies can be your friends. Just always remember who you're dealing with.
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Wednesday, June 1, 2011
11 Steps to Becoming a Millionaire
There are some key steps if you want to build wealth. However, you have to be careful. Do you want to be rich because you are greedy or because you want to further the kingdom of God. It is important to remember that we can't take it with us. So what we do with what money we have is as important as the desire to have more, if not more so.
- Be sure to Tithe
Giving to God is the foremost thing you should do. If you want to build wealth as a Christian then God says to give of the first fruits.
“Will a mere mortal rob God? Yet you rob me. “But you ask, ‘How are we robbing you?’ “In tithes
and offerings.” - Malachi 3:8 (NIV)
Don't Rob God! If you don't already, start giving to God. - Be Frugal
Learning to forgo the nicest things just because you built a little savings and waiting on those pleasures until you really can pay cash for them is much better. For example, you don't have to have $200 watch when you aren't rich. A cheap watch will work just as well. Then when you have actually saved 1 million dollars, then you can still buy the more expensive watch (if you still want it). - Pay cash for everything you’re able to.
This goes for everything (even cars and jewelry). The rich didn't get rich by making payments to someone else. They scrimped and saved and payed cash. The only thing you should ever borrow for is a mortgage. Never borrow for/on anything that goes down in value. - Work harder and longer than everyone else.
The discipline of work as an ethics matter is lost on our culture today. It’s vital that you create a discipline to out work everyone else. Look at it this way; success is not a journey for most people; it is a marathon! Prepare everyday to go the extra mile and you’ll soon be on your way to becoming a millionaire. - Make Financial Success a Priority.
Almost everyone says they want to be successful, but few make it a priority. Success really does end up with those that are most committed to having it. look at those who become millionaires because they won the lottery or something. They really weren't prepared. They didn't know how to become a millionaire and so in the end they tend to lose the million(s) that they won. They only way to get and keep wealth is to make it a priority (along with the other 10 tips in this list). - Eliminate All Options.
Treat your business as if it is the only option. You want to be focused on that business and improving that business. So treat it as if it were your only option to become a millionaire. - Believe You Can Do It.
This doesn't mean you won't have doubts along the way, but you must be your own best believer. Don't let doubt over take you. Read books to help encourage you, perhaps even attend motivational workshops. Above all don't let anyone else get you down. - Formulate your vision for success.
You can't just say that you want to be rich; or that you want to be successful. You have to formulate a plan. Just like a budget is a written plan, you have to have a written plan for your vision of success. Your goals if you will. In fact the website has a form just for this purpose. Perhaps you want to own your own home within the next year, own 100 apartments with a 15% cash return, own 2 car washes or whatever your goals are. Just be very specific in each of the goals you make. - ALWAYS Use Multiple Lines of Attack.
In order to get one thing done, never rely on one avenue or line of attack to get it done. Use multiple angles of approaching each item. - Dominate Don’t Compete.
Figure out what you love to do and then do it. Dominating that competition. You want to be in so many places that everywhere your competition goes they hear of or see you. - Quit Thinking in Shortages.
Success is never easy to achieve, but the only reason most people don’t ever reach it is because they’re lacking in one or more of the above steps.
Monthly Budget - June 2011
The below budget is a typical monthly budget for my household. It is not hard and fast monthly budget, as I am not to discuss my actual pay rate from work, but I have included a rough idea. Although there are months I could make less then the estimated I put in from my salary. I also did not include any blogging income, because I never know when I might actually get a sponsor to the blog. Especially since I became more strict on what sponsors I will accept. I am just trusting the Lord and his timing as to when I can start doing this blogging/ministry full time. If you are praying person, please pray for God's guidance in this area and that the support will come sooner rather then later. Thanks.
the chart above does not include a tithe, but a tithe is given. I personally have problems disclosing the exact mount of the tithe or really even mentioning the tithe because I do not want to appear to be bragging in anyway.
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| Income | $$$$ |
| His (???) | $1,000 |
| His (???) | $ |
| Blogging Income | $ |
| Freelance Writing | $ |
| Hers (Disability) | $1,053 |
| Total Income | $1,111 |
| Monthly Budget | $$$$ |
| Rent | $639 |
| Home Savings | $100 |
| Water | $39 |
| Electricity | $100 |
| T-Mobile | $100 |
| Time Warner Cable | $25 |
| Food - Groceries | $250 |
| Emergency Fund | $100 |
| Automobile Gas | $120 |
| Household Total | $1,473 |
| Blog Related Expenses | $$$$ |
| A T T Internet | $25 |
| ----- | $ |
| Total Blogging Expenses | $20 |
| Over All Totals | $1,498 |
the chart above does not include a tithe, but a tithe is given. I personally have problems disclosing the exact mount of the tithe or really even mentioning the tithe because I do not want to appear to be bragging in anyway.
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A Big Thanks to Big Moving Stock
I would like to give a great big shout out to the latest sponsor to sponsor the blog and our work here (by purchasing one of our fiverr gigs). Big Moving Stocks is a website that helps you make the right Stock Picks based upon your interests. Providing you with just the facts, you can make your own choices on whether or not to invest. Check it out today.
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go ahead share your thoughts with me now, my ears are open. I'm always eager to hear what you think.
follow me on Twitter and facebook
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go ahead share your thoughts with me now, my ears are open. I'm always eager to hear what you think.
follow me on Twitter and facebook
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