The CFPB is forcing car dealers to change their pricing to avoid potential discrimination. The consequences are far-reaching. Regulation Could Change How You Set Prices The Consumer Finance Protection Bureau (CFPB) recently announced that it was proposing significant changes to the method used by car dealers to determine the interest rate that consumers pay on car loans. These changes are adamantly opposed by both car dealers and lending companies, but the CFPB isn’t backing down. What is of … [Read more...]
Small Business Committee Chair Expresses Concerns Over SHOP Delays
HHS announces one-year delay for SHOPs, severely limiting small business choices for health insurance. Elise Viebeck of TheHill.com reports that Representative Sam Graves of Missouri, Chairman of the House Small Business Committee, has called to task the Health and Human Services Department (HHS) for delaying certain parts of the healthcare reform law that benefits small businesses. The concern is with the implementation of the Small Business Health Options Program (SHOP). SHOPs are … [Read more...]
Europe is One Step Closer to Financial Crisis
The government of Cyprus and the European Union reached a solution to that country's crisis. But is the cure worse than the disease?, Is Europe One Step Closer to Financial Crisis Bank depositors in Cyprus awakened to a new reality. That country's government finally reached an agreement with the European Union to receive over 10 billion euros in bailout funds. As part of the agreement, all bank accounts at the countries' two largest banks that hold over 100,000 euros will suffer significant … [Read more...]
Is the Euro Seeing its Last Days?
Some small businesses have stopped taking payment in Euros. Is this a good idea? Just five years ago, it was fashionable for celebrities, entertainers and many businesses to draft contracts that demanded payments in Euros. The thinking was that the euro was a far more stable currency than the dollar which was reeling from the height of the financial crisis. Only a fool would question the stability of the Euro. How things have changed! The U.S. economy has serious underlying problems at the … [Read more...]
Dionne Warwick Into Bankruptcy
Legendary singer Dionne Warwick has mismanaged her fortune and is now left with just $1,000 in the bank. Don't make her mistakes. Financial Mismanagement Forces Dionne Warwick Into Bankruptcy In a sad and shocking turn of events, legendary singer Dionne Warwick has been forced to file for bankruptcy protection. Despite an illustrious singing career that spans five decades, Warwick is down to her last $1,000. This pales in comparison to her debts which surpass $10 million to the IRS alone in … [Read more...]
What is Plaguing California Small-Business Owners?
Pessimism looms large California Small-Business Owners. That may be good news. Nearly one in four small business owners in California don’t expect to be in business there in three years. The dismal findings of the Small Business California study echo recent research published by the National Federation of Independent Business (NFIB), Pepperdine University and Dun and Bradstreet Credibility Corp. These other studies also point to widespread pessimism among small business owners about future … [Read more...]
Rookie Millionaries: Why You Might be Luckier than $338M Powerball Winner
The Powerball Winner Pedro Quezada just landed a $330+ million windfall. Can he handle it? Pedro Quezada, owner of a bodega in Northern New Jersey will have to start worrying about number with many more zeroes at the end. The small-business owner won last night’s Powerball lottery worth an estimated $338 million which represents approximately $150 million in lump-sum after-tax cash. That is an almost unfathomable amount of money and more so for a bodega owner. In my experience, most bodega … [Read more...]
3 Ways to Outsmart Financial Scammers
Financial scam arists rely on one thing to succeed and it isn't lack of financial knowledge. For someone to fall victim to a financial fraud, most people assume that a lack of financial literacy is the cause. But in a study co-sponsored by FINRA, it turns out that victims of financial fraud tend to have more financial knowledge than the general public. These victims were indeed illiterate in the art of persuasion. In an interview of Doug Shedel author of “Outsmarting the Scam Artist," it's … [Read more...]
Get Your Share Of $80 Billion In Small Business Government Contracts
Uncle Sam bought over $80 billion in products and services from small businesses last year in Government Contracts. Which door should you knock on to get your piece? According to data recently released in the Federal Procurement Data System (FPDS), federal government agencies award over $83 billion in small business contracts during 2012. This represents approximately 22 percent of the $376 billion in contracts for which small businesses were eligible. This is very close to the 23 percent which … [Read more...]
Virtual Money, the Bitcoin Joins the Currency Big Leagues
Forget the dollar or euro. It's time to get paid in Bitcoin. Virtual money isn’t issued by any government; its value isn't controlled by any central bank. Instead, private companies or nonprofit organizations issue electronic codes that carry a value, and a market of buyers and sellers around the world sets the price relative to real currencies, like the dollar and euro. Over the last 15 years, virtual money has been playing an ever-increasing role in web-based transactions, accounting for … [Read more...]
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