For the second time in five years, 156-year-old grocery store operator Great Atlantic & Pacific Tea Co. (A&P) filed for chapter 11 bankruptcy protection, laying out plans to sell off or close many of its stores. [More]
If you sell something for a profit, you can expect the government to take its cut. [More]
You already know that it’s not healthy to fight about money all the time, but it might be a bigger risk factor for divorce than you think. A 2009 University of Virginia study found that couples who argue about finances every a week are 30% more likely to divorce than those who argue less frequently. In addition, a couple that marries with no assets are 70% more likely to divorce in three years than a couple bringing $10k in assets into the union. [More]
Credit unions might be attractive alternatives to big commercial banks, but they’re not crisis-proof. OregonLive says about a fifth of the nation’s credit unions are having financial troubles right now. To get in better financial health, they’re introducing fees for services that have long been free, and even asking members to move their deposits to other institutions. [More]
“Oh hell no!” Federal District Judge John F. Grady told a marauding group of car warranty robocallers who managed to annoy pretty much everyone over the past few months. The judge slapped two Florida companies with an immediate restraining order and froze their assets, which should be enough to finally end those maddening robocalls.
Banks are pushing for a change to banking rules that would allow them to ignore mark to market accounting for assets in markets that they deem “inactive.” In other words, if a bank is loaded with worthless assets but decides that the market for those assets is frozen, they can value those assets higher than the market would. Or to simplify it even more, they can create value out of toxic assets. And it looks like now the Financial Accounting Standards Board, which so far has been against this rule change, is caving in.
Divorce can break your heart, and ruin your credit. Before parting ways, divorcing couples must untangle any assets acquired during the marriage. Ask The Advisor put together a useful guide for any couple unwilling to wait until death to do them part:
Years ago, Carla Ruff stored her grandmother’s jewelry and a file of personal documents in a safe-deposit box at her bank in San Francisco’s Noe Valley, thinking they would always be there when she wanted them.
The Washington Post has an article, “Ordinary Customers Flagged as Terrorists,” describing how the Office of Foreign Asset Control maintains a list of potential terrorist suspects, and how everyday citizens can wind up on it.
A text file. That’s what banks use to freeze the assets of terrorists, drug traffickers, and nuclear weapons dealers. A dot txt downloadable from the U.S. Treasury website.