| GE Money and Southern States Join Forces for Strategic Growth
ST. PAUL, Minn.--(BUSINESS WIRE)--GE Money's Sales Finance unit and Southern States Cooperative, one of the nation's largest farmer-owned cooperatives, announced a new multi-year relationship to provide new financing options through GE Money's private label credit program. The program will be offered at the cooperative's more than 1,100 retail outlets across 23 states. With 300,000 farmer members and fiscal 2006 sales of $1.6 billion, Southern States is a leading supplier of agricultural products and service east of the Mississippi River. .
Gyms deliver strong profits
PUMPING iron is driving bulging profits as gyms around the country grow strong on the back of a growing fascination with fitness. But as consolidation brings more big business to the sector it is the punters who pay but don't turn up who provide the extra cream on the industry's profits. Dreamworld owner Macquarie Leisure is the latest big player to muscle in on the gym industry, this week paying $60 million for the predominantly Queensland-based Goodlife Healthclub business. It is the second most profitable player in Australia, with world leader Fitness First dominating. That company, owned by European private equity group BC Partners, now controls 70 gyms across Australia and has more than 500 gyms across 15 countries. Macquarie Leisure chief executive officer Greg Shaw says there's plenty of room for growth and expansion would be ideally suited to some of the company's existing AMF bowling sites around the country.
Teach your children to pay debt and save money
Karen Wons of Maryland finds herself in a quandary that is confronting many parents right now. She is struggling with how best to advise her daughter -- a recent college graduate -- on paying down her $25,000 in student loans. Wons did what any wise parent would do. She asked for help. Here's the back story. Wons' daughter works as a project manager at a medical software company. She has an annual salary of more than $50,000. Her employer provides a 401(k). She has about $13,000 in cash from recently redeemed Series EE savings bonds. She has no credit card debt. She has no payments on a reliable car with low mileage. She's sharing an apartment and other living expenses with an older sister in Madison, Wis. Her portion of the rent is just over $500 a month. Wons is unsure about the course her daughter should take with her debt.
Secretary of State branch plans spark debate
LANSING, Mich. -- Secretary of State Terri Lynn Land wants to open a bigger, better office where Saginaw-area residents can renew their drivers' licenses, register to vote and take care of other tasks that aren't handled at traditional branches. But that would mean closing a smaller office in nearby Buena Vista Township and consolidating it with one about nine miles away. Angry township residents say it would be a burden for the poor and elderly to travel to the improved branch. The dispute has sparked debate about how state government can best serve its residents at a time of scarce resources and shifting customer demands. Judging by the varied reactions to the secretary of state's office consolidation plan, there aren't any easy answers _ especially with state government in the throes of a budget crunch.
The big housing slowdown
Slower house-price growth, repeated interest-rate hikes and uncertainty about new credit laws and systems have contributed to a slowdown in home-loan applications. Bond originators, however, see their industry becoming increasingly important. Six weeks after the introduction of the new National Credit Act (NCA) on June 1, its impact on the property market remains unclear. The housing market has been tightening for some months now, although the average price of a house is now R924 800, according to Absa's House Price Index. In June house prices grew 14,9% year-on-year in nominal terms, which does not take inflation into account. On a month-on-month basis, nominal price growth slowed to 0,6% in June. This is the slowest month-on-month growth since September 1999, when growth of 0,4% was recorded.
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