| Join Credit Union? It's Worth A Look
Consumers have a plethora of borrowing and saving options, including traditional banks, online-only banks, credit unions and investment brokerages.
And although Internet-only banks can offer the most competitive rates for saving and borrowing, credit unions offer a mix of favorable rates and personal service. They're often a good alternative to traditional banks, which still dominate the market.
Credit unions are affiliated groups of people who pool their money and lend it to each other. They don't have divided loyalties - trying to serve a customer at the same time as boosting profits and the stock price for shareholders.
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Paying down student loans
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 background. 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.
TRX Reports Second Quarter 2007 Results
ATLANTA, Aug. 9 /PRNewswire-FirstCall/ -- TRX, (Nachrichten) Inc. , a global technology company that develops and hosts software applications to process data records and automate manual processes, today reported financial results for the quarter ended 30 June 2007.
Total revenues excluding client reimbursements for the second quarter of 2007 were $24.5 million compared with $29.4 million in the second quarter of 2006. Net loss for the second quarter was ($0.4) million compared with net income of $1.8 million in the second quarter of 2006. Net loss per diluted share was ($0.02) compared to net income per share of $0.10 per diluted share for the second quarter of 2006.
Revenues from transaction processing services for the second quarter of 2007 decreased to $16.6 million from $19.3 million in the second quarter of 2006.
Watch List (Aug. 5-11): Ah Contraire
In this week's issue we report that: while U.S. homebuilders are still writing down land holdings, others are starting to look at the opportunities that may be coming; U.S. newspapers are taking big hits on troubles in residential real estate; Prudential Real Estate Investors says those troubles are hanging heavy over an otherwise strong commercial market; and CBRE Realty Finance takes a hit on foreclosures; plus other news you'll find only here in the entire column and give you the latest facility closures, permanent mass layoffs and properties on The Watch List. Land Speculators Starting To Awaken With run away asset writedowns and land option contract cancellations by U.S. homebuilders still climbing, it would be a solidly contrarian view to start looking for buying opportunities. However, that is just what Canadian property owner Brookfield Asset Management started talking about this week.
Valassis Announces Financial Results for the Second Quarter Ended June 30, 2007
LIVONIA, Mich., July 31 /PRNewswire-FirstCall/ -- Valassis today announced financial results for the second quarter ended June 30, 2007. The company reported quarterly revenues of $612.1 million, up 134.9% from the second quarter of 2006, due to the acquisition of ADVO, Inc. (ADVO) that was completed on March 2, 2007. Second-quarter net earnings were $9.8 million, or $0.20 in earnings per share (EPS). For the second quarter, operating income was $40.6 million and adjusted EBITDA* was $63.1 million. Adjusted free cash flow* was $25.1 million for the quarter.
"Since the close of the ADVO acquisition on March 2, we have been extremely pleased with our efforts to reduce costs and capital expenditures as we focus on maximizing free cash flow," said Alan F. Schultz, Valassis Chairman, President and CEO.
MTS Reports Second Quarter Results
Manitoba Telecom Services Inc. ("MTS" or the "Company") (TSX: MBT - News) today announced strong results with better than expected earnings for the second quarter of 2007. The Board of Directors declared the third quarter cash dividend at $0.65 per share which is payable on October 15, 2007 to shareholders of record on September 28, 2007. .
THE INTERNATIONAL FORECASTER
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Rate rise 'will hit economy'
A PEAK BUSINESS group warned yesterday that the rise in official interest interest rates will wipe billions of dollars from economic activity over the next 12 months. The Australian Chamber of Commerce and Industry believes the 25 basis point rise in the Reserve Bank's cash rate will directly cost the Australian economy $1.8 billion in the next year. Despite the expected dampening effects on consumer demand and business investment, the ACCI said it was not opposed to the rate hike. ACCI chief executive Peter Hendy said the tightening of monetary policy was necessary to help keep inflation under 3 per cent. "While interest rate increases do have significant cost to the community, inflation can have even larger cost," he said. "Therefore, ACCI does not oppose a rate increase to address high inflation." However, South Australia's peak business group, Business SA, said it was disappointed by the rise.
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