Financial News Headlines

Save the pelicans and small businesses

June 29th, 2010

– George A. Cloutier is the founder and CEO of American Management Services and the author of the bestselling book “Profits Aren’t Everything, They’re the Only Thing”. The opinions expressed are his own. –

For the last two months we have been inundated with photos of oil-covered pelicans and other marine animals victimized by the oil spewing forth from the ruptured BP well in the Gulf of Mexico. The spill in the Gulf is obviously disastrous, but it pales to the economic “oil spill” that has destroyed small businesses over the last two years.

Pelicans and small business owners are faced with surprisingly similar situations: they are victims of disastrous events beyond their control. They are faced

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BC Iron accord with Indigenous group

June 29th, 2010

BC Iron Ore has reached an agreement with the Nyiyaparli People whose claim covered the southern part of its Nullagine Iron Ore Join Venture with Fortescue Metals Group, in the East Pilbara.

BC Iron said the agreement paves the way for the granting of several miscellaneous leases that cover the proposed Southern Haul Road, completing the link between the project mining areas and FMG’s rail infrastructure at the Christmas Creek Ore Processing Facility.

The Nyiyaparli are one of three Indigenous Groups who have Tradition Ownership claims underlying BC Iron’s tenements.

BC Iron signed an agreement with the Palyku People in April 2010.

The company said the Njamal Peoples’ claim does not affect the Joint Venture.

In a statement BC Iron said “Approvals from the Department of Mines and Petroleum for the Mining Proposal and Clearing Permit are on track for late July 2010 and once received, construction will immediately commence on the Northern and Central Haul Road as well as the Mining Centre.”

 

See full company statement below:

Australian iron ore company BC Iron Limited (ASX: BCI); (“BC Iron”), as manager of the Nullagine Iron Ore Joint Venture (BC Iron 50% : Fortescue Metals Group 50%) is pleased to announce that it has signed the Nyiyaparli Infrastructure Agreement with the Nyiyaparli People whose claim covers the southern part of the Project area. Read more…

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Ford Announces Plans To Reduce Debt by $4 Billion (NYSE: F)

June 28th, 2010

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In an effort to further strengthen its balance sheet, the Ford Motor Company, Inc. announced on Wednesday that they are paying off more than $4 billion in debt. This action is in addition to the $3 billion Ford paid off in April which brings the combined total of debt payments to $7 billion in the second quarter of 2010. In reducing the debt owed by $7 billion, the company will save $470 million in yearly interest expenses.

Ford is the only Detroit automaker that has avoided bankruptcy and this action indicates the company is gaining in financial strength.

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Debt Management: Prioritizing Credit Card Debt

February 24th, 2010

Prioritizing credit card debt is useful when you eliminate your most costly debts first. Three important steps in debt management include determining annual percentage rates (APRs), debt consolidation options, and setting up a plan to reduce debt each month.

APR: The Painful Part of Credit Card Debt

Federal law requires the APR for consumer credit accounts to be clearly displayed on billing statements. If you’re paying bills online, you can access itemized monthly statements showing the APR on each account website. APR shows how much you’re paying for the “privilege” of owing money to creditors. Credit

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Can comparison sites be trusted?

February 23rd, 2010

In the past anyone that wanted to look at finding cheaper prices on various products or services had to go to the hassle of ringing around or trawling the shops to try and get a better deal, which was quite frankly an inconvenience that put many people off trying to get a better deal.

This was made easier by the Internet, which enabled consumers to browse and compare products and services from the comfort of their own homes, but could still be quite time consuming because it meant going from one website to another.

However, over the past couple of years the switching market has been revolutionised by the introduction of price comparison sites.

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Personal Finance Daily: An active approach to helping fat kids

February 22nd, 2010

Don’t miss these top stories:

• See Cars.

• See Vital Signs.

• See MarketWatch First Take.

Our kids are fat, to put it bluntly, or overweight or obese, to put it medically. And who can blame them? Look who they have as role models — us, a supersized America hooked on high-fructose corn syrup and infatuated with french fries.

You can trace at least some of the problem to the end of the age of innocence: Where we used to feel safe dumping our children outside to bicycle or skateboard across the neighborhood in search of pals for a game of pickup ball we now drive them to play dates and group lessons or whatever and don’t much think about the physical activity we deprive them of.

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