Nov 02
I have been almost totally silent on CIT’s failure in this blog. The reason is that I believed it wasn’t appropriate to comment negatively on a competitor or its business. However, now that CIT has sought protection from its creditors I no longer feel that I must be silent.
Sunday at 3:48 PM I received an e-mail from CIT’s investor relations department that contained a press release from the company that is still making me shake my head in disbelief.
The 3:48 PM press release announced that CIT was filing Chapter 11, which isn’t a big surprise.
What was a big surprise is what they said about their leadership positions in various financing markets (which was their only comment on the actual business of CIT).
For more than 100 years, CIT has provided much needed capital to small business and middle market customers. These t
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Nov 01
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Everybody loves tinkering with their houses. Some people like decorating it. Some people have a liking for nice furnitures.Some love to remodel their bathrooms and kitchens. But the most essential part to improve on if people want a nice looking house is the flooring. The flooring is a big part in making our houses look beautiful.It makes sense because it runs all throughout the house and is easily noticed. So if you really want to make your home look nice, don’t overlook the flooring.
Spending for things that are not so important is hard to do especially these days. Bu
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Nov 01
The USAToday article: S.D. man uses unemployment to raise food for charities is starting my Monday on a hopeful note thanks to Brian Parsons who has been using his time since unemployed to grow food for his local food pantries. Read more…
Nov 01
Dan Klein runs the 401k plan at a small New Jersey hazardous-materials company, so when it comes to investing advice, he’s the go-to guy for his co-workers. Ask for help, and he’ll explain the difference between stocks and bonds, value and growth. He might even suggest a portfolio. It’s fun, Klein says, adding, “I probably should have been a financial planner.” 
The best (and worst) 401k plans
Maybe so, but there’s just one thing: He’s not one.
Klein does have a midcareer MBA, but he went to school for chemical engineering and spent much of his working life cleaning up toxic spills.
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Nov 01
Last week, the House of Representatives Financial Services Committee voted 39-29 for the creation of a federal agency that would provide consumer protection. The proposed agency (called in bills the Consumer Financial Protection Agency) has been in the news since its proposal earlier this year.
This vote is seen as an important step, but the bill must still face votes before the full House of Representatives and the Senate.
Who Wants It, Who Does Not
For the past few months, lobbyists from both sides of the debate have been pushing legislators to make a decision about the potential consumer protection group.
A Yea
from consumer advocates: Generally speaking, supporters of consumer rights favor the agency’s creation. I
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