Finance expert Mike Periu on how insurance claims are protected if your insurer goes out of business. After a natural disaster like Hurricane Sandy, consumers and small-business owners take it for granted that their insurance companies will take care of the damages. But if the losses exceed what the insurance company planned for, there is a risk that they may not be able to make good on those claims. When a state insurance regulator believes that an insurer lacks the capital to make good on … [Read more...]
Will There Be a Global Recession in 2013?
Finance expert Mike Periu on the G20 Finance Ministers' discussion of a potential global recession next year. The Group of 20 Finance Ministers and Central Bank Governors, also known as the G20, is an influential group composed of the top financial representatives of the 19 largest economies in the world and the European Union's Central Bank Chief. The G20 was formed in 1999 and they meet regularly to address financial and economic issues impacting the global economy. The most recent G20 … [Read more...]
Will the Election Outcome Affect Your Investments Returns?
The impact the presidential election will have on your investments. Will the Election Outcome Affect Your Investments Returns? People believe that one political party or another is better for your investments returns. According to a new study published, though, whoever wins a presidential election—Republican or Democrat—has far less impact on investment returns than most people think. What really matters are the policy actions of the Federal Reserve. Regardless of which party controls the White … [Read more...]
How Millionaires Invest in Stocks
OPEN finance expert Mike Periu on how millionaires invest in stocks. According to Tiger 21, an investment club whose members have a minimum of $10 million to invest, millionaires like to keep their stock buying simple. While many think that these multimillionaires invest in exotic offshore hedge funds, the reality is their portfolios are far more boring—so much so that you can replicate it. According to Tiger 21's annual member survey, the typical portfolio consists of 23 percent real … [Read more...]
CEOs Ask Washington to Compromise for Economic Good of Country
OPEN's finance expert Mike Periu on leading CEOs urging Congress to Compromise for Economic Good of Country. CEOs Ask Washington to Compromise for Economic Good of Country A coalition of leading chief executive officers have united to urge Congress to take action to Compromise for Economic Good of Country and reduce the country's more than $1 trillion annual budget deficit. Just like small-business owners, large company CEOs are having a difficult time running their businesses and investing … [Read more...]
How to Speed Up Your Sandy-Related Insurance Claim
OPEN finance expert Mike Periu on how to receive faster payment on Sandy-Related Insurance Claim. Insurance company adjusters will be extremely busy for the next several months processing claims. If your small business suffered damages from Hurricane Sandy, it's important to begin the claims process as soon as possible to ensure timely payment. Make sure that you file the claims paperwork correctly and have adequate back up documentation to support your claim. If you make a good case, you … [Read more...]
Today’s Jobs Report Has Significant Implications
OPEN finance expert Mike Periu on the release of today's Jobs Report. The Bureau of Labor Statistics (BLS) will release the October employment report today. Economists generally believe that the report will show two things. First, that the unemployment rate has increased to 7.9 percent, and second, there was an increase in the number of non-farm payroll jobs of 125,000. This is the last jobs report before the election. If the report does not match the consensus (either much better or much … [Read more...]
Stay Alert for Sandy-Related Scams
OPEN finance expert Mike Periu on the different types of scams and fraud that surface after a disaster like Hurricane Sandy, Stay Aler for Sandy-Related Scams. Most people respond to tragedies like Hurricane Sandy with a natural desire to help others through difficult times. A small segment of the population, however, responds differently; they see a ripe opportunity to commit fraud. In the days before Sandy hit, more than 1,000 Sandy-related domain names were registered. Many of these may be … [Read more...]
Your Business-Interruption Insurance May Not Cover Losses From Sandy
OPEN finance expert Mike Periu on Business-Interruption Insurance coverage for small businesses affected by Hurricane Sandy. Business interruption insurance provides compensation to businesses that are forced to shutdown temporarily. It covers the revenues that you would have generated during the time you are closed so you can keep paying your expenses. Typical policies, however, require that physical damage to your building be the cause of your interruption. In the case case of Hurricane … [Read more...]
U.S. Is Once Again Approaching the Debt Ceiling
OPEN finance expert Mike Periu on the U.S Approaching the Debt Ceiling. The debt ceiling refers to the maximum amount of money the U.S. Federal government can owe and it currently stands at $16.4 trillion. Based on current projections by the Treasury Department and the Congressional Budget Office, we will hit the limit by the end of the year. In order to keep financing its operations, the Federal government needs Congress to pass a bill authorizing an increase to the debt ceiling. The last time … [Read more...]
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