Business & Finance - 29 June 2007

why do they have an offshore bank account

2007-06-29 13:01:11 · 3 answers · asked by miiiikeee 5 in Corporations

I am a student right now and I don't have much of an income, but the landlord of every apartment I have been to in this city asks for proof of income over 24k. Well, I don't have that of course, but I asked them if it would be good enough if I had 20k "in the bank", and they said yes. Well, I inherited about that much but it is still in a trust fund - so, how can I prove it is there, and do you think they would accept that? If not why not? REAALLY need some help here, thanks. Also, how the heck do other students get apartments???? I guess they mostly get rooms or something.

2007-06-29 12:56:26 · 5 answers · asked by Anonymous in Renting & Real Estate

2007-06-29 12:50:05 · 2 answers · asked by Anonymous in Renting & Real Estate

such as fashion bug, my credit score goes down and I could be red flagged for having so many credit checks done. I want to know if he is correct, because everytime I go to fashion bug, the clerk says,"if you apply for a credit card through us today, you will recieve a discount on your purchase." They also say I can apply everytime I shop there just to get the discount. So, should I stop applying just for this discount, when I know my credit sucks. I've also told the cashiers my credit sucks, and they say that's fine.

2007-06-29 12:44:48 · 11 answers · asked by wrong12ask 2 in Credit

With a (very) low credit score, no financial institution is willing to help me with a consolidation loan based on signature (I have no assets to use as collateral). After having lost my job and having my vehicle stolen I am no longer able to satisfy my credit card payments which have gotten out of control and it is unlikely I will ever catch up to them. They're way too high and piling up.

My credit score is way too low and 4 banks have already turned me down for a loan. Each time I apply it affects the Beacon score even more.

I've contemplated filing Bankruptcy.

My question is: If I don't file Bankruptcy and just ignore my bills, what is the difference? My credit couldn't go down any more than it is. It's in the 400's range already.

2007-06-29 12:41:22 · 7 answers · asked by rob1963man 5 in Credit

Cash, Shop Supplies, Prepaid Insurance, Equipement, Accumualted amortization (equipment), Accounts Payable, Wages Payable, Owner capital, Owner withdrawals, Repair fees earned, Amorization expense (equipment), Wage expense, Insurance expense, Rent expense, Office Supplies expense, Utilities Expense, Income Summary,

2007-06-29 12:31:27 · 5 answers · asked by Anonymous in Other - Business & Finance

2007-06-29 12:28:14 · 9 answers · asked by joey d 1 in Personal Finance

if you live in your house for 2 years and sell it, you get 250,000 tax free, and up to 500,000 tax free if your married. but thats for your primary house.

what if i have investment houses. how long do I have to keep them to sell them tax free?

can you use a 1031 tax exchange on investment properties? or is that only for your primary home?

everyone says, your primary home gets taxed more, but investment get taxed less, so wheres the tax benifits for investments?

2007-06-29 12:23:03 · 6 answers · asked by beach_babe971 2 in Renting & Real Estate

thank you!

2007-06-29 12:11:57 · 2 answers · asked by Amy S 2 in United States

2007-06-29 12:10:43 · 5 answers · asked by sondra 1 in Small Business

How much do they usually cost?

2007-06-29 12:09:50 · 5 answers · asked by happyteacher4u 2 in Renting & Real Estate

i found a savings bond for me (form my deceased grandmother) from 1996 for $100, would it be worth more now that it is eleven years later.

2007-06-29 12:00:48 · 2 answers · asked by נυѕт ѕмιℓє 5 in Personal Finance

2007-06-29 11:55:06 · 2 answers · asked by Tereka Bodika 3 in Small Business

Identify differences in financial statements across forms of business organization.

2007-06-29 11:52:52 · 1 answers · asked by Tereka Bodika 3 in Small Business

This guy on land my mother gave to me says he has a ninety nine year lease. However he couldn't produce the paperwork. How do i get him out.

2007-06-29 11:52:08 · 4 answers · asked by amandanumba2 1 in Renting & Real Estate

Identify and explain the content and reporting aims of financial statements.

2007-06-29 11:51:21 · 2 answers · asked by Tereka Bodika 3 in Small Business

if they are selling iphone at apple site/store for $599 why are people selling iphone on ebay for thousands of dollars?

2007-06-29 11:41:29 · 7 answers · asked by NOne N 1 in Corporations

i was in brand management. i have done tons of volunteering and fundraising. i was membership chair of the ptso and hospitality chair. i think i am partially terrified!

2007-06-29 11:38:53 · 9 answers · asked by toniknxvll 1 in Administrative and Office Support

I just found an awesome one. I am using it for my business. what do you think?
http://www.freagair.com/bookoid/

2007-06-29 11:28:53 · 1 answers · asked by Anonymous in Small Business

Let's say you move to CA, but the company you work for in TX says you can keep your job with them and telecommute. How would the taxes work with that situation? TX has no State income tax, but CA does. Would the TX company be forced to take out CA State Income taxes or would you be responsible for that yourself and have to pay those taxes to CA at tax time. Or could you just skate by paying TX taxes?

2007-06-29 11:28:08 · 3 answers · asked by Anonymous in United States

This Wednesday I called my bank's Credit Card department and asked if I made a transfer from my CC to my Checking (also with them) would there be any fee to do so. Their phone rep. said, "There'll be NO FEES as long as you do it on-line." I asked her TWICE, just to be sure, becuz I am TotallyDisabled and cannot afford any huge transfer fees !!! Well, while doing some on-line banking today I saw a huge FEE of $140.00 attached to my CC (M/C) as a FEE for that transfer !!! Being terribly upset, I phoned them & was told, "We do have fees & they can't be waived!" Well, I don't want it waived, I WANT IT REMOVED, as I was told by THEIR REP. that THERE'D BE "NO FEE" ! I asked to speak to a supervisor & was told that she'd get me 1,"but she won't waive the fee either"!!! I was then told they were too busy & I'd get a "call back w/i 24 hrs.So, I sent them an on-line written message informing them of the problem & pleading 4 them to DO THE RIGHT THING! WHAT ELSE CAN I DO if this fails? HELP

2007-06-29 11:25:08 · 7 answers · asked by BARBIE 5 in Personal Finance

Should I be working in CT $5000 dollars more. Or is it not worth it when it comes to tax time. Please only answer if you know this answer for sure. Thanks.

2007-06-29 11:25:01 · 1 answers · asked by Dan M 2 in United States

I am about to lose my home on July 5ht

2007-06-29 11:23:48 · 3 answers · asked by spiffylucy 1 in Personal Finance

My husband and I are about to start our journey of getting out of debt. I want to lay our situation out and see if I can get some advice on our best options for getting out of debt. First of all we do not have any major debt such as mortgage,etc...just alot of self inflicted debt. We currently have one vehicle that we pay monthly and we owe about 1 year or so on it. We have four "bad credit" credit cards that we pay only the minimum on with balances totaling under $1000. We have several charge off's and collections between us two on our credit also. Nothing more than a couple of thousand if that. Now it seems easy to just split it all up and pay monthly but we are barely making ends meet paying our everyday bills (gro,utility,etc) We live on a budget and still have it hard. We have 2 children (2 and newborn) that we want to provide a decent life for. We would like to take a large loan and pay off everything and pay one lump sum, but how with bad credit? Help? Please shed some light...

2007-06-29 11:23:04 · 5 answers · asked by Anonymous in Credit

If I got a PhD in Electrical Engineering but only a minor in Business (i'm not sure if that's possible). How hard would it be to manage my business? How demanding is the career? What are the hours like? How flexible is your schedule?

2007-06-29 11:12:19 · 3 answers · asked by Anonymous in Corporations

i want other sites then, abcdistributing,com, ltdcommodities.com,and bill me later does not accept me,i want any kinds of sites that you have to have no money now till after the shipment is shipped.

2007-06-29 11:11:33 · 2 answers · asked by Anonymous in Small Business

I met an investor and he wants me to help him find people that need money to start thier own buisness ect... It can be anyone....but where can i fend these people

2007-06-29 11:08:59 · 6 answers · asked by ajchapin1 1 in Investing

The agent has placed on MLS but that's it. The corporate office of my franchise, sent a buyer my way, my agent was VERY difficult for me to get a hold of (bad w/returning calls and email) so the buyer never spoke with the agent, the buyer spoke with me, the seller. I did all the negotiations and my agent WAS NOT the procurring cause of the impending sale. Can I cancel the contract with my agent or is he still entitled to a commission?

2007-06-29 11:06:09 · 2 answers · asked by useurbrain 3 in Small Business

In Brazil it's 60 years for men, and 55 years for women.

2007-06-29 11:06:01 · 11 answers · asked by pop 3 in Personal Finance

"It gives manufacturers and dealers a weapon to use against discounters, which will raise prices and stifle innovation," he said.

High Court Overturns Century-Old Antitrust Rule
Manufacturers Gain Say on Retail Prices

By Ylan Q. Mui and Robert Barnes
Washington Post Staff Writers
Friday, June 29, 2007; Page D01


The U.S. Supreme Court yesterday overturned a nearly century-old ruling that prohibited manufacturers from dictating the minimum prices retailers must charge for their goods, saying such agreements could spark competition rather than stifle it.

The 5 to 4 opinion, delivered by Justice Anthony M. Kennedy, found that minimum-pricing requirements by manufacturers do not constitute an automatic violation of the Sherman Antitrust Act. Instead, the agreements must be judged on a case-by-case basis according to a "rule of reason" to determine whether they interfere with market competition.



The 5 to 4 opinion found that minimum-pricing agreements must be judged on a case-by-case basis. (By Win Mcnamee -- Getty Images)
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Chief Justice John G. Roberts Jr. and Justices Antonin Scalia, Clarence Thomas and Samuel A. Alito Jr. joined Kennedy in the opinion. Justice Stephen G. Breyer filed a dissenting opinion with Justices John Paul Stevens, David H. Souter and Ruth Bader Ginsburg, arguing that little has changed in the U.S. economy to warrant overruling a decision that has held up since 1911.

The reach of that previous case, Dr. Miles Medical Co. v. John D. Park & Sons Co., has been vast. In his dissent, Breyer described it as being embedded in antitrust law. It has covered the price of perfume, the cost of cars and countless other goods. The decision is why manufacturers can only offer suggested retail prices.

But some free-market economists have argued that Dr. Miles outlived its usefulness and is unnecessary as an antitrust weapon in a modern economy.

Their analysis holds that minimum-resale pricing would ensure retailers make enough profit to provide better service to customers and promote the manufacturer's products. It would eliminate "free riding," in which a consumer might try out the latest tennis racket at the local pro shop and then hit the Internet to find a cheaper price.

Even if minimum-price requirements were to hurt retail competition, free-market economists say it doesn't affect competition among brands. No manufacturer would want to price itself out of business.

In its opinion, the court found that reasoning to be persuasive, at least in some instances.

Mallory Duncan, general counsel for the National Retail Federation, said the justices "put a thumb on the scale in favor of those manufacturers who would like to set resale prices.

"It doesn't guarantee them the right to do it," he said. "But it gives them a little more ammunition."

Consumer groups counter that the restriction has saved shoppers hundreds of billions of dollars over the years. Mark Cooper, director of research for the Consumer Federation of America, said yesterday's ruling will make it more difficult for discounters and small businesses to challenge large manufacturers.

"It gives manufacturers and dealers a weapon to use against discounters, which will raise prices and stifle innovation," he said.





Glass-Steagall Act
From Wikipedia, the free encyclopedia
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Two separate United States laws are known as the Glass-Steagall Act. The Acts (Glass & Steagall) were both reactions of the U.S. government to cope with the economic problems which followed the Stock Market Crash of 1929.

Both bills were sponsored by Democratic Senator Carter Glass of Lynchburg, Virginia, a former Secretary of the Treasury, and Democratic Congressman Henry B. Steagall of Alabama, Chairman of the House Committee on Banking and Currency.




Contents
[hide]
1 First Glass Steagall Act of February 1932
2 Second Glass-Steagall Act (officially called: Banking Act of 1933) (June 16, 1933)
3 Repeal of the Acts
4 Note
5 Emergency Banking Relief Act of 1933 (March 9, 1933)
6 External link



[edit] First Glass Steagall Act of February 1932
This act allowed that government obligations as well as commercial paper can be used as reserve in banks. Therefore, banks were able to increase credit, and more money was in circulation. It was enacted under President Herbert Hoover. Do not confuse this act with the second Glass Steagall Act of 1933.

See: [http://www.u-s-history.com/pages/h1504.html ]





[edit] Second Glass-Steagall Act (officially called: Banking Act of 1933) (June 16, 1933)
This act introduced the separation of bank types according to their business (commercial and investment banking), and it founded the Federal Deposit Insurance Company for insuring bank deposits. Literature in economics usually refers to this Glass Steagall Act, since it had a stronger impact on US banking regulation.

See:

Original Text of the act: "Banking Act of 1933", (= Glass Steagall Act), in: Walsh, Gerard P. Jr. (ed.), Federal Reserve Act of 1913. With Amendments and Laws Relating to Banking, Washington 1981, pp. 163-199. A pdf is available here (downloading takes a while): [1]

"Understanding How Glass-Steagall Act Impacts Investment Banking and the Role of Commercial Banks" [2]





[edit] Repeal of the Acts
On November 12, 1999, President Bill Clinton signed into law the Gramm-Leach-Bliley Act, which repealed the Glass-Steagall Act of 1933. One impact of this repeal is that certain advisory activities of the banks are now regulated by the Investment Advisers Act of 1940.


[edit] Note
Do not confuse those two acts with this one:





[edit] Emergency Banking Relief Act of 1933 (March 9, 1933)
This act authorizes President Roosevelt to forbid hoarding of gold coins. It authorizes the Treasury to request all people and companies of the U.S. to send in their gold reserves (transportation will be paid by the Treasury.) In addition, this act rules that all banks stop their business (bank holiday) until the Comptroller of the Currency has examined the soundness of such banks and has approved reopening. This act has nothing to do with the Glass Steagall Acts, however, it has often been mixed up.

See:

President Franklin Roosevelt's Bank Holiday Declaration, 1933: [3]

Original Text of the Emergency Banking Relief Act of 1933: [4]





[edit] External link
Back to the Twenties Through the Looking Glass - Steagall Hour long Wizards of Money MP3 explaining the Glass-Steagall Act, background to it and impact of it.
Retrieved from "http://en.wikipedia.org/wiki/Glass-Steagall_Act"
Categories: 1932 in law | Legal history of the United States | United States federal banking legislation | History of the United States (1918–1945) | Federal Deposit Insurance Corporation

2007-06-29 10:52:48 · 2 answers · asked by trevathantim 2 in Corporations