Joplin, Mo., is worried about one more tornado hitting

A second tornado could hit the already-tornado savaged area of Joplin, Mo. The lower Midwest is still at great risk, as a new storm front is currently looming above the area. Five states are at the center of the weather front. There’s a very strong risk of tornadoes touching down.

Five states need to be concerned about tornadoes

About 116 people were killed on Sunday, May 22 in Joplin, Mo., where a twister hit and is starting to form once again. According to MSNBC, the storm system has been producing tornadoes in the United States after starting in the south. People are warned with a thunderstorm advisory to view for strong winds, tornadoes and hail in Missouri, Arkansas, Oklahoma, Kansas and the northeast corner of Texas. A National Weather Service official was quoted as saying the risk of tornado outbreaks is “not through … not by a long shot.” There could be more tornadoes just as devastating as the one that struck Joplin, according to USA Today, but the risk will diminish throughout the week as the storm system passes by.

La Nina years bring greater storms

Tornadoes are the reason for many fatalities. Just this year 482 individuals have perished from them. Due to La Nina, or a time when the tropical Pacific Ocean gets cooler, the strength of the storms goes up. Storm systems become more severe meaning more tornadoes could occur when the Pacific cools since the jet streams get stronger and cool air rises into the atmosphere. Even though the tornado outbreaks in the Midwest have been terrible, they are ordinary storms, reports Yahoo News. Areas will get weather patterns such as low pressure systems that will stay for a long time and might mean a tornado. Just last month, there were many tornadoes that hit many states. Over 300 individuals were killed from them.

Insurance losses in the billions

Reuters explains that insurance companies expect to lose billions because of this. The recent Mississippi river flooding and other natural disasters in the United States for instance tornado outbreaks are expected to cost various insurance companies up to $10 billion this year, compared to a normal year’s outlays of $2 billion to $4 billion. Over $55 billion might have to be paid because of the Earthquakes in Japan and New Zealand. In just 2011, there have been 1,151 tornadoes that have hit. Building towns back up is what the Federal Emergency Agency is working on. Since 1947, the Joplin tornado is the deadliest one that has hit. In 1947, 181 people were killed in Woodward, Okla., from a tornado. The Joplin tornado was, at one point, three-quarters of a mile across and generated wind speeds of almost 200 miles an hour.

Articles cited

MSNBC

msnbc.msn.com/id/43147795/ns/weather/

USA Today

usatoday.com/weather/storms/tornadoes/2011-05-23-tornadoes-hit-plains_n.htm

Yahoo News

news.yahoo.com/s/ap/us_sci_midwest_storms_science;_ylt=AjjcCUBXXogIBRiQGeOupzqs0NUE;_ylu=X3oDMTNjM21oOHRnBGFzc2V0A2FwLzIwMTEwNTI0L3VzX21pZHdlc3Rfc3Rvcm1zBGNjb2RlA21vc3Rwb3B1bGFyBGNwb3MDMQRwb3MDNgRwdANob21lX2Nva2UEc2VjA3luX3RvcF9zdG9yeQRzbGsDcmVsYXRlZA–

Reuters

reuters.com/article/2011/05/24/us-insurance-disasters-idUSTRE74M6GH20110524

Charge card businesses still after college students

College students and campuses are off limits to marketing campaigns by charge card corporations due to the CARD Act, which restricted marketing to some groups. However, credit card companies are exploiting loopholes and many students are still signing up for credit cards.

Credit cards on campuses not ending yet

All unethical practices done by credit card corporations were supposed to be stopped by the Credit card Accountability, Responsibility and Disclosure Act. One of the provisions of the CARD Act was to prohibit charge card businesses and card issuing institutions from marketing heavily to college students, however they’re finding ways back onto campus, according to a recent article in the Wall Street Journal. The law prohibits any free promotional gifts to students, but that does not prevent card issuers from offering other things like the $50 bonus for signing up for a card, as Citibank does. Anyone who friended the Chase Facebook group can get “karma” reward points while Facebook is being used by Chase to market to students.

No laws broken

Charge cards are typically not coming from charge card or finance businesses. They are offered by banks instead. Banks are still allowed to hand out promotional literature for checking and savings accounts, just not credit cards. However, several people see that as a canard. A University of Houston Law Center found in a survey of college students that 73 percent of credit card marketing was not on campus at all which is why financial service companies are on the same level. That survey found out that 29 percent of students applying for credit cards used loans as proof of income to get the charge card showing that students are skipping the rules to get credit cards.

The price of an education

Yearly the cost of going to a university is going up. This is why students may want a charge card to try and experience something nicer like a real meal. The debt from college is going up. Students are taking out more. The Sallie Mae foundation found that 92 percent of college students in 2009 charged an educational expense such as tuition or books and 20 percent of college seniors carried at least $7,000 in credit card debt, according to U.S. News and World Report. The class of 2011, according to Time, carries the highest average college debt ever seen. A $22,900 average debt is carried by the class of 2011. That is an 8 percent increase from 2010’s graduating class. It is a 47 percent increase from 2001 too.

Information from

Wall Street Journal

online.wsj.com/article/SB10001424052748704322804576303652621312770.html?mod=WSJ_PersonalFinance_FamilyFinance#articleTabs%3Darticle

Time

newsfeed.time.com/2011/05/11/congratulations-class-of-2011-youre-the-most-indebted-graduates-ever/

U.S. News

usnews.com/education/blogs/student-loan-ranger/2011/05/11/student-credit-card-use-could-cause-problems-later

Four basic ways to increase the price you get

Be it real estate or a piece of electronics on Craigslist, everyone wants to get as much cash as possible for items being sold. In the sea of online ads, getting that best price can feel practically impossible. You can improve the price you get when you sell online. It takes just a couple simple steps, and a few additional minutes of effort. Source of article – Four easy ways to get more money for what you are selling by MoneyBlogNewz.

1. Check photography out

Look at photos to start research as an online buyer. Looking at online photos is how 83 percent of individuals choose whether or not to visit a house. Taking a picture with your cell phone seems easy enough. Still, a 5 to 30 percent increase in price happens whenever you have good photos. Make sure the item you are photographing is well-lit, and use a tripod or a fast shutter speed (or “sports” setting) to eliminate blur in the photo. In case you are marketing a high-dollar item, it could well be worth the $100-$300 to get professional photography.

2. Make sure language is appropriate

Straightforward, concise, clear copy describing the item you’ve for sale will go a long way. Rather than listing the “seriously awesome camera that will make your photos 1 billion times better,” describe the item in concrete terms: “10 megapixel camera with full manual settings to control the photo.” It sounds better, and it will sell better. Most people should be specific. Use numbers if needed. Avoid too many adjectives. Not more than three per sentence is allowed. It might cost $50 to $100 to get a professional. You may just have a friend look over it instead.

3. You will need to search around

It’s OK to be hopeful about the sales price, however asking too much can put off potential buyers. Do your research on what comparable items are marketing for and adjust your prices accordingly. If you are asking for a higher-than-going rate, be sure to explain why. Explain why you would like less than the going rate as well on some products. Buyers might be very interested with your listing if you just explain yourself rather than go from the norm.

4. Spam is just irritating

It could be tempting to post your item for sale twice a day, just in case someone misses the listing. There is search functionality in most services. This is just online. Most viewers get really annoyed when you post it so often. You look desperate to sell. Only re-post your item if you make change to the price or the terms. It takes effort and money to list something more than once in one place. Keep away from this.

Information from

MSN Real Estate

realestate.msn.com/article.aspx?cp-documentid=13108474

Small Biz Trends

smallbiztrends.com/2010/04/5-tactics-to-improve-online-sales.html

Borrowing for college to enter billion-dollar realm

College campuses see a higher number of individuals in the form of students on a continuous basis who accept funds from financial institutions and promise to pay back the money with interest. Borrowing funds for education and the amount owed will reach the $1 trillion level this year after surpassing the total number of dollars owed by charge card borrowers in 2010. Money borrowed while a college student, most always regarded as a “good debt,” is more often becoming a “bad debt” as the cost of paying for an education, and the resultant money borrowed, are called into question as a result of low or negative return down the road for such a risk. Article resource – Student loan debt expected to hit $1 trillion and beyond in 2011 by MoneyBlogNewz.

More students have student loan debt as school costs go up

Student loan debt was something less than half of the students graduating with a bachelor’s degree had in 1993. There was a huge increase by 2008 though. It went up to two thirds. Then the average debt increased even more. By 2009, $24,000 was the average student loan debt a student left with. Total student loan debt is anticipated to reach $1 trillion this year and grow at even faster rate. Lower-income students can get Pell grants for financial aid, although Congress Republicans want to get rid of them. As cash-strapped states cut funding to universities and colleges, tuition increases will add to a mountain of debt that is anticipated to have a profound impact on the current generation of college students. The rate of student loan default is growing quite a bit with the student loan debt. There can be huge student loan payments that have to be made while credit could be damaged if they are not made. This could really hurt students in the future who are attempt! ing to have kids or attempting to buy a house. Those who have kids may have to choose between paying off their student loan debt and saving for their children’s college education.

There is some good debt

Payday loans, charge cards and auto loans are all forms of “bad debt.” Student loans, on the other hand, are considered “good debt” by many. In the aftermath of the recession, any kind of debt has become undesirable. However even as the average cost for a four-year private education has reached more than $37,000 a year, according to the College Board, student loans could be good debt if the degree outcomes in a salary that allows the debt to be paid in a reasonable amount of time. Most financial advisers suggest that individuals don’t borrow more than they could make the year after they graduate. That rule of thumb, however, highlights the risk of taking on student loan debt. Paying down the loans may be unlikely in sociology or history. The jobs for these degrees just aren’t there. The cost of debt is higher for engineering and medicine even though the risk is lower.

Loans are not always the answer

When it comes to good debt versus bad debt, the bottom line these days is simple: all debt is bad if you cannot pay it off. Default rates are rising – to almost 50 percent – among students who attended for-profit colleges. Bankruptcy doesn’t get rid of student loans. For federally guaranteed student loans, the government can garnish wages, withhold tax refunds or dock Social Security payments. Everyone in a low paying job can have the loans forgiven with the Obama administration. He made it so the debt is forgiven in 10 years if you are in a public service position or 25 years for anybody else who pays 15 percent yearly.

Citations

New York Times

nytimes.com/2011/04/12/education/12college.html?_r=1&emc=eta1

Creditcards.com

creditcards.com/credit-card-news/does-good-debt-still-exist-1264.php

care 2

care2.com/causes/education/blog/student-debt-for-college-likely-to-exceed-a-trillion-dollars/

Amazon to release advertisement-supported Kindle for $114

The traditional writing industry has lost ground to e-readers, tablets and other mobile devices, and Amazon is sitting quite with its Kindle platform. Once the $114 Kindle with Special Offers ships May 3, Amazon should improve its 60 percent share in the e-reader market. Yet there’s a catch – those Special Offers are advertisements, a move that has several worried about the shape of the reading experience to come.

Paying $25 less for an ad-based kindle

The price of the Amazon Kindle has fallen a few times since the first generation was introduced at $399 in 2007. This is the first time, however, that a price reduction will consist of the placement of advertisements on the popular e-reader, a move geared to capture ground from the iPad in the e-reader market. May 3 is when the kindle will start with Special Offers. The ad-supported version could be found in Best Purchase and Target for the Kindle 3.

Amazon founder and CEO Jeff Bezos sees the $114 Kindle with Special Offers as a “chicken in every pot” move:

“We’re working hard to make sure that anyone who wants a Kindle can afford one,” he said via a statement.

Reader response to a Christian Science Monitor article about the price cut seems to echo the fears most customers have about an advertisement-based Kindle. One reader argues for a free advertisement-based Kindle with $0.99 books, however that reflects another thorny issue regarding the price of electronic books. The $25 discount isn’t enough, according to some readers. Most experts’ say it is okay though since the ads only come up on the bottom of the home screen and on the screen saver.

“It’s very important that we didn’t interfere with the reading experience,” Kindle director Jay Marine told the Associated Press.

The price is needed

Getting to the $99 Kindle for Christmas 2011 is important, TechCrunch believes. That is what the $114 Amazon Kindle is leading up to with its Special Features. Traditional marketing psychology suggests the “.99″ price point is a magic number.

However, new research from New York’s Columbia Business School indicates the advantage is more imagined than it is real anymore. The “dollar-minus” approach (down to 99 cents, for instance) was actually less effective than “dollar-plus” price points (like $4.01), according to the Columbia study. Sales of goods that used the dollar-plus method increased by 3 percent, and customers felt greater trust for dollar-plus brands because the prices were perceived as being less manipulative.

Information from

Christian Science Monitor

csmonitor.com/Books/chapter-and-verse/2011/0413/Will-readers-accept-ads-in-exchange-for-a-cheaper-Kindle

Columbia Business School

gsb.columbia.edu/ideasatwork/researchbriefs/7314376?&top.region=main

Knowing and Making

knowingandmaking.com/2011/04/new-research-99-no-longer-optimal-for.html

TechCrunch

techcrunch.com/2011/04/11/amazon-kindle-99/

Kindle sales tripled after last price drop

youtu.be/PaAFm_fZQ2A

Government shutdown does not matter concerning Internal Revenue Service deadline

The IRS deadline for filing income taxes is still in impact, even if the federal spending budget brouhaha outcomes in a government shutdown. It was extended this year due to a city holiday in Washington D.C. That said, it is still April 18 If a shutdown occurs, refund checks will be postponed. Resource for this article – Government shutdown does not postpone IRS deadline by MoneyBlogNewz.

How the Internal Revenue Service employees are affected

In the event of a government shutdown, there can be a few agencies that are unaffected in their operations. Unfortunately, the Internal Revenue Service would shut down. That means as long as there is a shutdown, all IRS agents would be required to stay home. Bloomberg states that our tax returns have to be filed nevertheless. On April 8, the government shutdown will occur, unless a deal is made.

Electronic filing will help a lot

None of the paper returns can be received by the IRS if there’s a shut down. That means paper returns will not be sent back either, so no refunds. Taxpayers are asked to file electronically to keep away from normal processing.

How government workers could be affected

It is contended that the shutdown is going to occur because Congressional Republicans insist on defunding Planned Parenthood because the organization provides abortions. Members of Congress, according to CNN, and the president, will still get their salaries automatically. The government employees are the ones that would be most impacted. Any “unnecessary personnel” or those that are not necessary to protect the states, will not have work anymore. The Federal Bureau of Investigation and the military will continue to work. These employees are required to work for free during this time. There is no guarantee they’ll get back pay.

Articles cited

Bloomberg

bloomberg.com/news/2011-04-07/shutdown-won-t-budge-april-18-tax-filing-deadline-irs-says.html

Times

curiouscapitalist.blogs.time.com/2011/04/08/tax-refund-fears-would-a-government-shutdown-hurt-spending/

CNN

money.cnn.com/2011/04/08/news/economy/shutdown_congress_pay/index.htm

Negotiation reached in federal probe into robosigning

An initial negotiation has been reached between banks and the federal investigation into the robosigning scandal. The scandal has shaken several people’s confidence in the real estate finance industry. The nation’s largest mortgage loan companies were found to have rubber stamped foreclosure documents without making sure that it had been done properly, and many people were foreclosed on that did not deserve it. A legal probe into foreclosure practices has reportedly reached a negotiation with those lenders.

JPMorgan exec discloses deal with some federal agencies

Reuters reports that JPMorgan Chase Chief Executive Officer, Jamie Dimon, explained that there was an agreement made recently with mortgage loan companies being investigated due to the robosigning. Dimon confirmed that no fines had been levied yet, but they’re likely to come. About a dozen federal agencies and every attorney general in each state was doing an investigation to the largest mortgage lenders. Only financial institutions in the Office of the comptroller of the Currency, the Office of Thrift Supervision and the Federal Reserve are in the negotiation that has yet to be complete. A settlement with all 50 state attorneys general has not been reached.

Possible state settlements

The controversy stemmed from the discovery that a lot of foreclosure proceedings started when paperwork to start foreclosures was approved in a robotic fashion, or "robo-signed," without proper review. The robosigning problem needs to be solved easily. This is because foreclosure practices change sometimes. Bloomberg reports that JPMorgan plans to hire 3,000 new employees to make sure every little thing works out. In other words, there could be an increased amount of regulation in the mortgage industry when it comes to foreclosures, which means it will cost the loan companies in the mortgage industry more to lend and service a loan. Those costs can be passed on to the consumer at some point, likely in the form of requiring more money up front to get a loan. Since banks have been more worried about foreclosing lately, there’s a huge backlog of foreclosures on the books.

Not much with the mortgage modification program taking place

The mortgage modification programs were some of the biggest failures in all of the stimulus programs the Obama administration put together. Any person could apply for a modification if they were about to be foreclosed upon and were behind on mortgages. Any lender that was willing to modify a borrower's mortgage would be getting incentive payments from the government. USA Today reports that few individuals really used it. Between 3 million and 4 million people were in the goal to be kept in homes. There ended up being only about 630,000 individuals helped out with permanent modifications of mortgages.

Articles cited

Reuters

reuters.com/article/2011/04/13/us-financial-regulation-foreclosures-idUSTRE73C3DV20110413

Bloomberg

bloomberg.com/news/2011-04-13/jpmorgan-says-foreclosure-accord-with-federal-reserve-occ-may-come-today.html

USA Today

usatoday.com/money/economy/housing/2011-04-12-mortgage-borrowers-letters.htm?loc=interstitialskip