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Thursday, February 26, 2009
First-time home buyers who purchase a home this year can now take advantage of the stimulus bill's $8,000 tax credit, the U.S. Department of the Treasury said in a news release on Wednesday.
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Friday, February 20, 2009
This week in business news: stimulus bill signed into law, GM and Chrysler submit restructuring plans, Stanford's alleged CD fraud, bank nationalization fears.
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Friday, February 20, 2009
The White House's mortgage-rescue plan misses some critical elements.
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Friday, February 20, 2009
Wednesday’s Recovery and Reinvestment act promises $787 billion to American homeowners and homebuyers, offering much-needed protection against imminent foreclosure. This news came as a huge relief to many Americans with homes underwater struggling to make their mortgage payments, but the enormity of the situation begs the question, how did we get into such mess in the first place?
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Thursday, February 19, 2009
Here are some details about President Obama's foreclosure-prevention plan
FEATURES / RECOMMENDED READING
Blog List
FEATURES / RECOMMENDED READING
- Mortgage Modification Programs Yet to Prove Their Worth
- Flipping Homes Profitable, But Not Risk Free
- ID Thieves Are Targeting Home Equity Lines
- Obama: On the Economy
- McCain: On the Economy
- How to Play the (New) Deposit Insurance Game
- Obama: On Rescue Plan, Bailouts
- McCain: On Rescue Plan, Bailouts
- Dump Your Credit Card Debt, But Keep Your House
- Dramatic Drop in Home Values Will Crimp Some Retirement Plans
FOX Translator
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Just like you never want to hear a doctor say "oops" in the operating room, you never want to see a going-concern statement
in a financial report about a company you own. Accountants throw these in when they've been over the books, talked to customers,
and checked the horoscopes and have concluded there is "substantial doubt" about a company's ability to remain in business.
In short, don't blame the accountants if the company files for bankruptcy protection.
You¿d reckon that a going-concern
statement would be enough to send investors running to the exits, but it's not. True, many large institutions automatically
bail when an existing company gets slapped with one of these, but many individuals (often wrongly) take a chance they know
more than the bean counters.
During the tech boom of the late 1990s, many companies actually went public even though they had been hit with going-concern statements. Many of those companies subsequently disappeared. Enough said.
