The U.S. Sardine Industry Dead @ 135 Years

Another long-time U.S. industry dies: http://www.theglobeandmail.com/report-on-business/after-135-years-last-us-sardine-cannery-closing/article1534564/

Battle for the Old Clock?

There are a couple of interesting posts about the old clock on the corner that Regions Bank recently had removed. According to the Linton Business Reporter, there's rumor of an ownership battle now on-going.

Counterfeit $100 Bills in Area

Counterfeit $100 bills are currently circulating in the local area. They are very good counterfeits, too, passing the pen test because the counterfeiters are taking $5 bills and making them into $100 bills. Use caution when accepting bills, watching especially for these alterations.

Math Quiz

It is said that only people with an IQ 120 and over are able to figure this out.

If:

2 + 3 = 10

7 + 2 = 63

6 + 5 = 66

8 + 4 = 96

Then:

9 + 7 = ?

How Embarrassing!

How embarrassing would it be if a bunch of bankers were forced into a short sale of their assets themselves? hmm... that's just what recently happened...

http://www.thestreet.com/_aol/story/10676360/1/mortgage-bankers-association-forced-into-short-sale-todays-outrage.html?cm_ven=AOL&cm_cat=Free&cm_pla=Feed&cm_ite=Feed

U.S. Debt Clock

Very interesting visual: http://www.usdebtclock.org/

Toyota Halting Production @ Princeton

Let's hope this halt to production does not last very long:

http://pressroom.toyota.com/pr/tms/toyota/toyota-consumer-safety-advisory-102572.aspx

If it lasts too long, it'll spell even more economic devastation for SW Indiana... not only through the employees that work there, but the plant's small suppliers scattered about, as well as outsourced services provided locally.

Are You Giving a 0% Loan to the Government?

Now that it's tax season again, I was going to write a post about adjusting your W-4 form at work to stop giving the government a 0% interest loan -- and, therefore, put more more in your pocket each payday. But, before I had gotten around to writing it, I ran across this article, which done a good job I thought, and it saved me from writing it. So, here it is: http://shine.yahoo.com/channel/life/fiscal-fitness-give-yourself-a-200-raise-right-now-562577/

Even Value of the White House Drops in Value

This post over at CNBC is amusing: http://www.cnbc.com/id/34956652 It just underlines the fact that no one has been been immune to this economy!

Morality vs. Legality

Here's a good example of where 'the law' separates from common morality:

http://www.theindianalawyer.com/html/opinions-pdf.asp?pdf=01121003mpb.pdf

The case focuses on a man, who applies for a credit card, charges up an amount, then ultimately never pays his account. The credit card company sells it to another company that is in the business of buying bad debts & trying to collect them, and they go after the man. In the end, the man wins because the statute of limitations is invoked on collecting the debt e.g. they waited too long to collect.

So, boys & girls, the moral of the story is this:

In America, it's not what's morally right or wrong, it's just what the 'letter of the law' says.

Easy Money

This type of 'legalized' theft has to stop, as it’s purely the rich stealing from the poor:

http://cincinnati.bizjournals.com/cincinnati/stories/2009/12/21/daily32.html?ana=yfcpc

I've seen the shareholders of various companies over the past several years far victim to this, where an investment company buys an undervalued company. In some cases, they've used the method of loan the target company money via a convertible note, later exercising, and voting all of the shares 'yes' to sell to themselves for a ridiculously low price (think: Conseco several years ago vs. a small insurance company they acquired via this method).

Mark my words, too: the buyer will take it private for a year (maybe two) and then do an IPO, once they've parted off anything they can in their 'chop shop'.

The victims? Those are the long-term investors, who believed in the original company & trusted the Board of Directors with their hard-earned savings. It's call 'fiduciary responsibility' and more Boards need to learn this.

[End of Rant]

Happy New Year!

May everyone have a very Happy New Year!

Merry Christmas, Everyone!

Have a very Merry Christmas & a Happy New Year!

Bernanke on FAQ's

Chairman Ben Bernanke answers FAQ's in a speech at the Economic Club of Washington, D.C.: http://www.federalreserve.gov/newsevents/speech/bernanke20091207a.htm

IBJ: Indiana Troopers Association Files BK

The Indianapolis Business Journal is reporting that The Indiana Troopers Association has filed for bankruptcy protection. More here at the IBJ: http://www.ibj.com/indiana-troopers-fraternal-group-files-bankruptcy/PARAMS/article/14941

Who Is Filing Bankruptcy?

A statistical chart of who is filing bankruptcy can be found here:
http://www.fancystats.com/who-is-filing-bankruptcy/

2010: IRS Lowers Standard Mileage Rates 10%

Beginning January 1st, 2010, the Internal Revenue Service will reduce the standard mileage rate for the use of a vehicle for business purposes to fifty (50) cents per mile, a ten percent (10%) reduction to the current allowance.

Modern-Day 'Cavemen' Inherit Billions

Here's a quirky rags-to-super riches story: http://www.ananova.com/news/story/sm_3584037.html

Un-Banked in America

The recently released 'FDIC National Survey of Unbanked and Underbanked Households' stated that "Nearly 20 percent of lower-income U.S. households -- the almost 7 million households earning below $30,000 per year -- do not have a bank account."

For other stats from this survey, see the Executive Summary here: http://www.fdic.gov/householdsurvey/executive_summary.pdf

New Publication Coming in December!

A new publication is coming to the tri-county area of Greene, Sullivan, & Knox counties in December 2009. Their website will be located at http://thecurrentclassifieds.com/