Entries Tagged as 'Finance'

conglomeration

con·glom·er·a·tion (kn-glm-rshn)
n.

    1. The act or process of conglomerating.
    2. The state of being conglomerated.
  1. An accumulation of miscellaneous things.

The American Heritage® Dictionary of the English Language, Fourth Edition copyright ©2000 by Houghton Mifflin Company. Updated in 2009. Published by Houghton Mifflin Company. All rights reserved.


conglomeration [kənˌglɒməˈreɪʃən] n

  1. a conglomerate mass
  2. a mass of miscellaneous things
  3. the act of conglomerating or the state of being conglomerated

Collins English Dictionary – Complete and Unabridged © HarperCollins Publishers 1991, 1994, 1998, 2000, 2003


conglomeration a cluster; things joined into a compact body, coil, or ball.

Examples: conglomeration of buildings, 1858; of chances; of Christian names, 1842; of men, 1866; of sounds, 1626; of threads of silk worms, 1659; of vessels, 1697; of words.

Dictionary of Collective Nouns and Group Terms. Copyright 2008 The Gale Group, Inc. All rights reserved.


The SCO infringement lawsuit over the Unix trademark is over… the Supreme Court has ruled that Novell owns the Unix trademark and copyright, and SCO has no grounds for it’s litigation against.  Just as Microsoft owned and retained the Xenix copyright while SCO distributed that operating system, so Novell retained the Unix copyright while SCO distributed that operating system.

While means, Novell now has a prime asset — and could be ripe for harvesting (that’s a poetic way to say merger, take-over, buy-out).

Which will likely be bad for Linux.

WHAT?

Yep, take a look at what happened when Oracle purchased Sun (one of the largest companies supporting Open Source innovation in Linux, virtualization, etc) there’s definitely movement in Oracle to retract from the Open Source and free (free – like free beer) software efforts that Sun was firmly behind.

Consider what happens if a company acquires Novell and uses the SystemV license from Novell to market a closed source operating system, and discontinues work on Suse; or at minimum decides it doesn’t distributed Suse for free (free – like free beer).

“Live free or die” might become a fading memory.

Originally posted 2010-06-05 02:00:18.

Ups and Downs

Just as the trucking industry tells us that delivery volume has been steadily increasing since the beginning of the years; retailers tell us that consumers are beginning to spend less.

And the Commerce Department announced that the recession was deeper than previously estimated.

Who’s doing the estimates?

Anyone with any sense knew the economy was in bad shape, and that it would likely take a number of years before there was any real improvement, and potentially a decade before we truly recovered.

You have to ask yourself are the people in Washington DC and on Wall Street stupid — or do they just think the American public are so stupid they will believe anything?

Personally I feel this is a catastrophic event in World history that requires leadership to acknowledge it’s severity and begin making long term plans for recovery while creating short term safety nets to keep society afloat.

Just one more sign that anyone who’s been in office in this country isn’t part of the solution — they’re part of the problem.

INCUMBENTS

Originally posted 2010-08-05 02:00:45.

What taxpayers want

There is a good read on CNN.com by Lou Zickar entitled What taxpayers want (yes, I leveraged the title), it’s very well written and compelling; but I think it fails to be totally upfront and honest about the problem and is overtly politically spun.

You see, taxpayers also happen to be the electorate… so what they want they express by voting in each election and determining who goes to Washington (as well as their local and state seats of government) to make decisions — and since by-far-and-large voters have sent the same people back to Washington in some cases for nearly 60 years, taxpayers need look no further than the nearest mirror to see where the problem is.

If you vote for the same person election after election who has contributed to the problems, then you are getting exactly what you’ve ask for, and thus what you must want… if you want change, start at the ballot box.

But, realistically — I don’t see this happening.

America has become the home of the content, and the land of entitlement… entitlement which starts at the top and stretch to the very roots of society; and no one is willing to give up their “special” dispensations, but expect everyone else to do so.

Change is easy, and every individual is a part of it — all you have to do is send a real message to your elected officials, send them all home (for good).


What taxpayers want by Lou Sickar on CNN.com

Originally posted 2011-08-21 02:00:23.

:( Banks might not have gotten a Get Out Of Jail Free Card afterall :)

It looks like the first major salvo has been fired in potentially forcing the banks to accept liability in the Residential Mortgage Backed Securities (RMBS) fiasco that cause devastating harm to the US economy recently.

The New York Fed, BlackRock, and Pacific Investment Management Company sent letters to Bank of America alleging that its subsidiary, Countrywide, failed to perperly service loans totaling $47 billion.

While the letter itself doesn’t constitute any litigation, it does lay the groundwork for investors filing to recover investments that may have been negligently (mis)handled by banks.

This is a direct result of the “robo-signing” mess that banks have gotten themselves into; since it would be fairly easily established that the banks did not perform due diligence on loans where the documents were not properly reviewed.

I suspect this time it won’t be quite as easy for the banks to pull a rabbit out of the hat by getting the Federal government to provide them with loans — but then again, if you and I don’t make it clear to our elected officials that we’re not interested in another loan to banks, that we expect them to resolve it just like regular Americans have during this economic crisis that banks are largely responsible for.

Originally posted 2010-10-26 02:00:55.

Taxing Non-Profit

The red ink on the balance sheets of many state and local governments seems to be causing them to re-think the tax-exempt status of many non-profit organizations.

There seems to be every thing from legal/administrative challenges to organizations non-profit status to requests to non-profit organizations for tax “donations”.  Some localities are considering totally revoking non-profit exemptions, and others are simply creating hidden fees for services that are not exempt-able.

Clearly we as American’s need to re-think the non-profit tax exempt status totally.

Personally I think tax exemption for an organization should work more like “homestead exemption” — that they can be allocated a given amount of tax credit by each of their “supporters”.

Consider a system where every American is allocated a non-profit tax exemption that they can transfer to any organization (or split between organizations) that they desire; or choose not to… this gives each non-profit the ability to have a tax exemption proportional to their supporters.

What this prevents is large non-profit organizations (including faith based organization) from operating for-profit businesses or holding large tracts of real estate on which no tax is paid… but for modest non-profit organizations there would likely be minimal tax impact…

I personally believe that organizations that help society should be encouraged and supported – but organizations that simply try and evade taxes should not force the general public to support them.

Take a hard look at non-profits; ask how much of every dollar provided to them actually is delivered to the cause it is to help; ask how many employees are supported by the organization and whether their salaries are comparable those employed by for profit; and ask the same of the administrators of non-profit and who well they are compensated…

Originally posted 2010-05-27 02:00:45.

Sold: Amityville Horror House

by Sarah Mcbride

Trying to sell a house in today’s lackluster real-estate market?

Maybe you just need a good story behind the property. That may have helped homeowner Brian Wilson, who just sold his place at 108 Ocean Ave. in Amityville, NY. The house inspired the bestselling book and movie “The Amityville Horror” after the 1974 murders that took place there.

The five bedroom Dutch-colonial style dwelling was listed in May for $1.15 million. It sold for an undisclosed price, the New York Daily News reported.

After the murders of the DeFeo family, the property sold to George and Kathleen Lutz, who said the house was haunted and moved out shortly after buying it. Their experiences provided the basis for a bestselling book and movie.

A bank foreclosed on the house, and it was sold in 1977 to James Cromarty, who lived there ten years and told Newsday in May that “nothing weird ever happened there.” He sold it to another couple that also lived there ten years. It last sold in 1997 for $310,000.

The murderer, family member Robert DeFeo Jr., is still incarcerated.

Amityville Horror House

The house in 1974
Richard Drew/AP

Original Story on NPR.org

Originally posted 2010-08-20 02:00:19.

The Gift of Giving

Every year I go through the same thing… I try to select a handful of charities to give something to… and every year I want to know how much of what I give will benefit those I want to help, and how much will be absorbed by the organization that manages the donation.

Remember, there’s been plenty of large philanthropic organizations that end up only getting about 10% of what’s donated to those they “help” and paid their executives huge salaries. [Greed — you’ll find it everywhere]  
This year I stumbled on the American Institute of Philanthropy (see the link below), and they’ve done a lot of the work for you — and even made a simple ratings page if you don’t want to invest lots of time into looking over the details.

For those of you who can afford to give a little back, I encourage you to make your gifts count.

     http://www.charitywatch.org/azlist.html

Originally posted 2008-11-10 14:18:25.

It’s not our fault we went bankrupt…

I wasn’t sure it it was a new daytime sitcom or a hearing when former Lehman CEO Dick Fuld delivered his 1680 work prepared testimony.

Lehman was a strong company that had corrected it’s problems:

In retrospect, there is no question we made some poorly timed business decisions and investments, but we addressed those mistakes and got ourselves back to a strong equity position … There is nothing about this profile that would indicate a bankrupt company.

The market and the public were wrong to lose confidence in Lehman:

Lehman’s demise was caused by uncontrollable market forces and the incorrect perception and accompanying rumors that Lehman did not have sufficient capital to support its investments.

The government was at fault for not banning naked short selling or allowing Lehman to convert to a bank holding company or let it take deposits:

Each of those requests was denied at the time. Tellingly, though, each measure was later implemented in some form for other investment banks during the days and weeks following Lehman’s bankruptcy filing.

Lehman was the victim:

This loss of confidence, although unjustified and irrational, became a self-fulfilling prophecy and culminated in a classic run on the bank starting on September 10, 2008, that then led Lehman to file for bankruptcy four days later, in the early morning hours of September 15.

For more comedy (without my satire — and please don’t think I’m serious about anything I’ve written in this post) see the links below; and don’t laugh too hard.

Dick Fuld
Repo 105
Lehman bankruptcy attorney
New York Fed general counsel

Originally posted 2010-09-02 02:00:11.

Humankind and Socialism

I’ve often said that the one fundamental human traits that Karl Marx always failed to consider when he talked about socialism was the intense greed that drives most humans.

Greed, the failing of socialism, is largely the driving force that makes capitalism work.

The United States doesn’t have a totally free market economy; the government regulates many aspects of businesses — perhaps it shouldn’t or perhaps it should regulate more — there’s always a good argument on both sides.

Maybe it’s time that the United States government regulated businesses by exactly the same set of laws that it regulates individuals by.

Giving corporations the exact same rights and privileges, and subjecting them to the exact same legal and tax structure.

Powerful corporations have too long tried to manipulate society and government to satisfy their greed, and such manipulation in the long run puts an undo burden on society.

I see few alternatives for our society to grow and flourish.

Since humans will likely never be able to build a Utopian society, socialism (or any system like it) is not an option… since the powerful (and rich) will it seem always try and manipulate society to satisfy their own selfish greed we cannot depend on them “to do what’s right”.

How then do we build a society that will last and continue to grow?

Level the playing field — through insuring that one tenant of socialism lives on: from each according to their ability (where in this case, ability is wealth).

Long ago when I was much more idealistic I felt that the progressive tax system the United States uses was wrong…

Now I believe that a progressive tax system, with no deductions, treating all individuals and all corporations equally might be the absolute best solution.

Corporations will scream that their profits will suffer — but in the end greedy corporations will pass along those costs to individuals… the ones that will suffer will be the very rich… they will start paying their fair share (those who profit from society should bear a much larger portion of the costs of propagating it).

I’d prefer a better solution, but until humankind changes, we have to deal with realistic solutions to real problems.

Originally posted 2010-06-13 02:00:09.

GE Money Bank – Promos

I consider GE Money Bank to be a fairly low end credit card company, but they do often have attractive promotions to get you to sign up for a card… and they continue to offer promotions to get you used to using their cards.

Some of the promotions here of late — Sam’s Discover, $40 instantly off your $100 or more purchase; Wal-Mart Discover, $20 statement credit for a $100 or more purchase; eBay MasterCard 10% up to $25 back from your purchases in the first thirty days; and Chevron-Texaco VISA $10 gas credit for four transactions in the first thirty days (not clear if they need to be at a Chevron or Texaco or not).

Plus, what you start seeing around the end of your first thirty days are offers from GE Money Bank for a $10 statement credit for spending $100 or more at business other than the one the card was issued for — I just generally make my automobile insurance payment with the card, something I would do anyway — you might lose the 1% you would have gotten back on another card, but you get $10 plus whatever the GE Money Bank card bonus is for other charges!

From my experience you get two of the $10 off offers, one each of the months following your sign up — at least I have, and the only thing I charge on the cards is basically what I need to get the promo.

The downside is you’ll probably need to contact your credit card issuer and “remind” them about the promo; they’ll credit it pretty quickly after that (give them a statement period — but call after the statement the credit should have appeared on)… I won’t say the system always fails to apply the credit, but it has for me.  And there’s no reason to get testy with them, just be calm and tell them what happened (I save copies of the promos — both the initial electronic ones and the letters they send me just in case) and you might have to be sent to a supervisor — but you’ll get the credit with no problems as long as you fulfilled the terms of the promotion.

It’s easy cash — and you don’t have to use the cards after you have the money in your pocket; though watch out about accumulating too much credit for your asset level — if you’re not going to use the card, request them to lower your credit limit (or you can consider closing the account, but I would suggest you just lower the credit limit).

Originally posted 2010-12-05 02:00:33.