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alstry (35.96)

America Shutting Down....When Hell Freeze Over????

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May 11, 2009 – Comments (6)

Nope....But American Pensions are Freezing!!!!!!!!!!!!!!

Cigna will freeze its pension plan in a cost-cutting move as the insurer grapples with declining health-plan enrollment and investment income.

Hmmmm.......freezing pension????  declining health plan enrollment????

California Tax Revenues Down 50% y/y in April?????  Doesn't that sound like shutting down to you???  CA is OVER 10% of the American economy......Hell looks like its cooling down.....

You think the banks...responsible for about 40% of S&P earnings are going to come back soon???












Hurry...Give the bankers your money....before IPOs shut down......

and now everybody wants your cash.....

Microsoft is selling bonds for the first time, and investors looking for quality debt are lining up for a deal that will test the thawing credit markets.

Ford Motor plans to offer 300 million shares and use some of the cash to help fund retiree health-care benefits under its pact with the UAW.

Why does everyone want your cash right now????  Is it possible few of us will have any in the near future?????????????????

No wonder the market rallied!!!!!!!!!!!!!

6 Comments – Post Your Own

#1) On May 11, 2009 at 6:13 PM, alstry (35.96) wrote:

SAN FRANCISCO (MarketWatch) -- More than half of Fortune 100 companies now offer only a 401(k) or other defined-contribution plan to new employees, the first time a majority of the nation's 100 largest firms does not offer a traditional pension, according to an annual survey released Monday by consulting firm Watson Wyatt.

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#2) On May 11, 2009 at 6:30 PM, alstry (35.96) wrote:

The Banksters about to FU YOU!!!!!  Prepare!!!!!!

PALM BEACH GARDENS, Fla. (MarketWatch) -- If you're among those hoping to lower your credit-card rate, be careful. While convincing your card issuer to lower your interest rate should not affect your credit score, it could create other problems that will.

That's because these days, when you call a credit-card issuer, you may be putting yourself on the company's radar screen, said Emily Peters, personal finance expert for Credit.com. That could lead to unintended consequences, including a lowered credit line, higher interest rate, or closed account. So tread gingerly.

As recently as a year ago, good credit-card customers were able to go in with guns blazing and threaten to take their business elsewhere if a creditor failed to lower an interest rate. But that was then, and this is now. 

Peters, who formerly worked for credit bureau TransUnion, said some banks are slashing their credit-card business. If a creditor has the slightest inkling you're in trouble, a phone call seeking a lower rate could wind up triggering a "credit review."

The outcome could be a lower credit line, higher interest rate or closed account. These actions could ding your credit score, and that, in turn, may trigger higher interest rates on your other credit accounts.

Of course, come July 1, 2010, you generally won't have to worry about the impact of such actions on your other accounts, thanks to recent rule changes by the Federal Reserve. In fact, relief may arrive even sooner if legislation now pending in Congress is adopted. 

 Are you considering obtaining a lower rate through a bank's "hardship" department? "It's a gamble," Peters said. "Evaluate whether they've taken all the negative actions they can. You want to make sure ... that you're not going to be hit with more negative changes to your account." If you do enter such a plan, she said, remember that some card issuers will close your account once your debt is paid off.

This could hurt your credit score, because one factor in your score is the amount of debt you're carrying relative to your total available credit. It's generally better for your credit score if your outstanding balance is low in relation to the total amount of your available credit.

This "credit utilization" ratio is one factor in the Fico's "amounts owed" calculation, which comprises 30% of your credit score, said Craig Watts, spokesman for Fair Isaac Corp., creator of the Fico score. Much depends upon what else is in your credit history.

Before seeking a rate reduction, Peters said, it may pay to open another credit-card account first so that it shows as "active" on your credit report. Still, in some cases, opening a new account can prove unhealthy for your credit score -- for example, if you've had other delinquencies, Watts said.

Another important issue to weigh: Will your card issuer cut your credit line to equal your balance as you pay down your debt? That, too, could prove negative to your score. Mistakes consumers make

As banks raise credit-card rates and slash credit lines, Peters says cardholders are making two major mistakes: They're opting out of rate increases on their cards. Do that and you could find your credit limit lowered or your account closed.

Either action can hurt your credit score. You're best off accepting the rate increase and getting the debt paid off as quickly as possible. Closing the account in retaliation. "This only hurts you and not the credit card company," she says.

A closed account means less available credit, which could ding your score.

PREPARE....DON'T FEAR!!!!

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#3) On May 11, 2009 at 6:56 PM, alstry (35.96) wrote:

HELL IS FREEZING OVER!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Take a look at this chart evidencing the dramatic shutting down of tax revenues on California...a state responsible for OVER 10% of the American GDP.....

http://1.bp.blogspot.com/_OjftCEBUcYQ/SgbUwrVKS8I/AAAAAAAAFLQ/s4-z3TJMlhM/s1600-h/revenue_2008-2009_ca.PNG

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#4) On May 11, 2009 at 11:17 PM, uclayoda87 (29.31) wrote:

U.S. threatens to rescind stimulus money over wage cuts

 The Obama administration threatens to rescind billions in stimulus money if Gov. Schwarzenegger and lawmakers do not restore wage cuts to unionized home healthcare workers.

By Evan Halper
May 8, 2009

 http://www.latimes.com/news/local/la-me-health-cuts8-2009may08,0,4592200.story

Reporting from Sacramento -- The Obama administration is threatening to rescind billions of dollars in federal stimulus money if Gov. Arnold Schwarzenegger and state lawmakers do not restore wage cuts to unionized home healthcare workers approved in February as part of the budget. ...

 

Great options for California:  Either you accept the government's demand, which will bust the hard fought budget compromise, leading to a failed state or refuse the federal government's demands and find out of they are serious about terminating the state.

I doubt that Obama will risk losing California in the next election by trying to support a union over the rest of the voters in the state.  We will find out if the Governor is as stong as he used to be.

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#5) On May 11, 2009 at 11:33 PM, uclayoda87 (29.31) wrote:

alstry

http://www.amazon.com/Hell-Freezes-Over-Eagles/dp/B000000OU0

Hell Freezes Over [LIVE] Eagles 

This California group understands California, their leaders should listen and try to understand!

 

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#6) On May 13, 2009 at 1:32 AM, uclayoda87 (29.31) wrote:

The next big country to fail – California!

December 31, 2008 – Comments (1) | RELATED TICKERS: BAC , WFC

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