Saturday, October 4, 2008
Monday, September 29, 2008
Approximately $1.2 trillion in market value is gone after the House rejects the $700 billion bank bailout plan.
NEW YORK (CNNMoney.com) -- Stocks skidded Monday, with the Dow slumping nearly 778 points, in the biggest single-day point loss ever, after the House rejected the government's $700 billion bank bailout plan.
(click here to read more)
Thursday, September 4, 2008
Almost half of employees living paycheck to paycheck
A survey of 7,192 workers released Wednesday by online job-search Web site CareerBuilder.com shows 47 percent of working Americans claim they always or usually live paycheck to paycheck just to make ends meet. This marks a jump from 43 percent in 2007.
More female workers -- 54 percent -- always or usually have to live paycheck to paycheck, compared to 41 percent of males. More men (77 percent) than women (72 percent) said they save some portion of their paycheck each month.
I think that if the survey pool had been larger the numbers would be different. Forty-seven percent seems low to me.
An interesting thing is that even people making $100,000 or more still aren't able to save. I know the saying, "the more you make, the more you spend" but I would have thought that more would at least spend what they can afford.
Wednesday, August 27, 2008
Michigan was the only state where poverty rose and incomes fell last year, the U.S. Census Bureau reported Tuesday.
The statistics illustrate the uniqueness of Michigan's economic swoon, and the extent to which the auto industry's downward plunge has caused a ripple effect across the state.Michigan's poverty rate was 14 percent, up from 13.5 percent in 2006 and a full percentage point above the national rate, which was virtually unchanged during the same period. The state's rate has grown steadily since 2000, when it was just above 10 percent. The number of people in poverty increased by 45,000 during 2006-07.
The 2007 median income in Michigan was $47,950, down 1.2 percent or $596 from the 2006 median of $48,546. The state's nationwide ranking slid from 24th to 27th.
They also showed Michigan's rate of "extreme poverty" -- a yearly income of less than half the poverty threshold, or $10,325 for a family of four -- jumped from 6 percent in 2006 to 6.5 percent last year. Eight years ago, the rate was 4.8 percent.
More than 18 percent of Michigan residents get some type of assistance through the state Department of Human Services, said Sheryl Thompson, acting director of outstate operations.
The company plans to continue doing business and has also hired Blackstone Advisory Services to explore a possible sale of TCBY.
"There are several food retailers right now that are mall-based that are under pressure," said Marti Kopacz, managing partner of the restructuring group at accounting firm Grant Thornton. "Food that is out of the home and food that is arguably discretionary is going to come under pressure when people don't feel that they've got that discretionary income in their wallets."
click here for entire article
For some reason, this story was popular on celebrity gossip websites. Is Debbie Fields considered a celebrity?
I was never a fan of these cookies, I prefer the Original Cookie Company. Oh no! She owns that too and Hot Sam. I haven't been to our local mall in probably a year or more, if other people are like me and shopping online, I can see why these stores are having problems.
Monday, August 11, 2008
The Christian Service Commission will be sponsoring
the Summer Giving Tree once again.
The tree is now up in the Parish Center.
Please come take a tag or two.
The items need to be returned to the Parish by
Monday, August 18th.
I stopped in today to get some tags and there are quite a few left.
If you can afford to help out, please considering doing so.
Most of the tags are such things as:
Undershirts, backpacks, paper, socks, TrapperKeepers, etc.
I think I'll set up a Paypal contribution on the sidebar for the various charities I support if anyone would like to help that way.
Jackson hasn't been hit by bad weather (Thank God) but the Michigan economy has been affecting us negatively.
Sunday, July 20, 2008
Sunday, June 15, 2008
Man Pays $30,000 in rent, faces eviction
LAGUNA HILLS, California (CNN) -- Charles Nelson has paid about $30,000 in rent since moving into a spacious four-bedroom home in August. He was stunned when a real estate agent knocked on his door recently and said the home was in foreclosure.
His landlord had not paid the mortgage since he moved in and the bank is now demanding the house back. Nelson will also lose his $7,700 security deposit.
More than 100 miles away in the working-class city of Palmdale, Fai Nomaaea -- a 35-year-old mother of eight -- can relate. The single mom was cleaning the yard when a man handed her a notice of foreclosure. Like Nelson, she had been paying her rent on time every month.
"It really is a frightening issue for tenants that have no way of knowing until almost the last minute that a landlord is defaulting on a property."
... in many cases, renters want to buy the properties being foreclosed, but the banks force them out anyway.
Nelson knows all about that. He called the bank to offer to buy the home he's renting but was told that he has to move out first and then make a bid. Now, he lives day-to-day, not knowing when he'll have to leave.
"There could be a knock on the door, saying we have 10 days, two weeks. I don't know."
Click here to read entire article.
The lady I sit next to at work is going through this exact thing. Not only is the owner not paying his mortgage, he is in violation of some safety concerns that he's had 6 months to correct. A representative from the city showed up on her day off to inspect the house to see if they had been repaired and he is the one who told her that the man hasn't been paying the mortgage. Last I knew she didn't pay June's rent because she may have to move if the bank is foreclosing.
The terrible part is that this owner just rented to her in late April to have her move in May 1st, knowing that he hadn't been paying the mortgage and probably had no intention to do so. He collected a deposit, 1st and last month's rent and a pet deposit. Even with that cash he most likely didn't use that money to pay on the arrears. That should be a criminal charge in my opinion.
Thursday, May 8, 2008
Donate items like: pasta, rice, soup, juice, fruits and vegetables.
No glass containers or expired items. Please.
For more information: HelpStampOutHunger
The Hunger Facts on the website are heartbreaking. If you are able to help in any way, I encourage you to do so.