August 2010 Archives

KCRG-TV
By: Katie Wiedemann
August 30, 2010

One Dubuque family is living in their own home tonight because of a new program here in Iowa.

'saved' by dupaco

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The Telegraph Herald
August 30, 2010

Adam Shepherd and his 4-year-old daughter, Sarah, moved into their new home Saturday, thanks to Shepherd's newly adopted tenacity for saving money through a Dupaco Community Credit Union Individual Development Account (IDA) and a three-for-one matching grant from the Iowa Credit Union Foundation.

The Seattle Times
By: Lornet Turnbull
August 29, 2010

On this chilly May night in the parking lot of Southcenter mall, Cherie Moore is growing anxious.

The Case Against Homeownership

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Time
By: Barbara Kiviat
August 26, 2010

Homeownership has let us down. For generations, Americans believed that owning a home was an axiomatic good. Our political leaders hammered home the point. Franklin Roosevelt held that a country of homeowners was "unconquerable." Homeownership could even, in the words of George H.W. Bush's Secretary of Housing and Urban Development (HUD), Jack Kemp, "save babies, save children, save families and save America." A house with a front lawn and a picket fence wasn't just a nice place to live or a risk-free investment; it was a way to transform a nation. No wonder leaders of all political stripes wanted to spend more than $100 billion a year on subsidies and tax breaks to encourage people to buy.

The San Francisco Chronicle
Bloomberg
August 30, 2010

President Barack Obama said his economic advisers will examine "additional measures" to promote hiring and growth and urged Senate Republicans to drop their "blockade" of a measure to help small businesses.

Waterloo Courier
By: Emily Christensen
August 30, 2010

The days of University of Northern Iowa students trading their personal information for a credit card and free T-shirt are long gone.

Americans may be shunning banks

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Credit News
August 31, 2010

A small percentage of American consumers are currently considered underbanked or unbanked, but new reports reveal that this number may grow as more individuals turn their backs on traditional banking.

Forbes.com
By: Jack Taggerty
August 27, 2010

Hi Mac,

I do not agree that Innovation is best developed as a result of Problem Analysis and Decision Analysis (as with Kepner Tregoe) and is a by product of process. I believe that positive social innovation can result from putting in place the right culture to foster innovation. There is an excellent example of this here in my summary of what The Corporation for Enterprise Development (CFED) is doing. CFED is a nonprofit organization that has a mission of expanding economic opportunities for those that are low and moderate income communities and families. CFED is based in Washington DC. The 2010 Assets and Learning Conference will be held on September 22-24.

5starinnovation.com
By: Jack Taggerty
August 29, 2010

Throughout the world the aging populations of many western countries is starting to have severe impact on economies as the baby boomer generation start to come to grips with what retirement will mean to their lifestyle. The Corporation for Enterprise Development (CFED) is leading the world with its 2010 assets Learning conference.

The Chicago Tribune
By: Kathy Kristof
August 29, 2010

Dametria Williams started her financial life as a statistic: a poor single mom, just like her mother and grandmother before her.

The Wall Street Journal
By: Leslie Jacobs
August 30, 2010

Today close to 70% of New Orleans children attend charter schools.

Five years ago yesterday, the levees broke. Hurricane Katrina flooded roughly 80% of this city, causing nearly $100 billion in damage. The storm forced us to rebuild our homes, workplaces and many of our institutions--including our failing public education system.

The Wall Street Journal
By: Karen Blumenthal
August 28, 2010

There is a new regulator in town. Will it make a real difference?

The Washington Post
August 29, 2010

In this era of high unemployment, flat home prices and do-it-yourself retirement savings, some traditional rules of saving and investing are due for an overhaul.

Right Vision News
August 28, 2010

In a recent survey conducted by the Personal Finance Employee Education Foundation with the support of the Employee Benefits News, 91% of respondents cited employee financial literacy as being extremely important or important in reducing the vulnerability of the American economy to major economic crises. Given the recession employers were asked whether they noticed an increase in garnishments - 51% said yes; emergency loans - 42% said yes; and 34% have seen an increase in requests for more time off to handle financial issues.

The Los Angeles Times
By: April Lee
August 30, 2010

Like many small businesses caught in the worst economic crisis since the Great Depression, Tri-State Biodiesel was struggling to find capital last year, in the middle of a credit crunch.

El Paso Times
By: Elvira Valles
August 29, 2010

The nation's largest micro-lender has a regional office in El Paso.

The Newberg Graphic
By: David Sale
August 28, 2010

Affordable housing -- Waiver of five-acre minimum proposed; new residential zone suggested

With approximately 600 units throughout the city, manufactured homes are one of Newberg's leading sources of affordable housing. But do zoning rules hamper their spread?

High schools prepare entrepreneurs

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The Hawk Eye
By: Rex Troute
August 29, 2010

Students who feel the entrepreneurial spirit usually get their first taste of business classes at the high school level. And business teachers see the curriculum as essential in preparing their pupils for the real world.

The Times-Picayune
By: Cindy Chang
August 26, 2010

When U.S. Secretary of Education Arne Duncan said Hurricane Katrina was "the best thing that happened to the education system in New Orleans," the backlash was swift, and he soon apologized.

The Daily Citizen
By: Mark Millican
August 26, 2010

CHATSWORTH -- Mobile home dealer Jeff Sams said a decision by Murray County government to limit the age of mobile homes that could come into the county several months ago was "just not right" since he and others in the industry are watching what they sell.

Trends in Microfinance

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Small Business Trends
By: Rieva Lesonsky
August 25, 2010

Once upon a time, microloans were primarily for entrepreneurs who lived in economically disadvantaged communities or were considered part of underserved populations. During the recession, however, microloans became an important resource for a wider range of entrepreneurs, many of whom are seeking the loans to supplement other capital sources or even to expand their businesses.

The American Farm Bureau's Rural Community Building blog
August 6, 2010

Small businesses support the communities on which farmers and ranchers depend for essential goods and services. In rural America, small businesses are critical to support a quality of life that will attract the young families necessary to keep rural communities vibrant.

Credit reforms reach campuses

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The Washington Post
By: Ylan Q. Mui
August 27, 2010

Credit card reform came too late for 20-year-old Tamaira Shaw.

The Washington Post
By: Lori Montgomery
August 27, 2010

With the economy rapidly weakening, some senior Democrats are having second thoughts about raising taxes on the nation's wealthiest families and are pressing party leaders to consider extending the full array of Bush administration tax cuts, at least through next year.

The Washington Post
By: Frank Ahrens
August 27, 2010

Foreclosures and late payments on home mortgages dropped slightly in the second quarter of this year, but sustained high unemployment and a stalled economic recovery could make the improvement short-lived.

Online tool helps on loan

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The Myrtle Beach Sun-News
By: Adva Saldinger
August 25, 2010

South Carolinians struggling to avoid foreclosure will now have a technology tool designed to help them more easily and efficiently qualify for loan modifications.

The Kansas City Star
By: Rick Montgomery and Mara Rose Williams
August 25, 2010

A month ago, the Kansas City school board president hoofed up Forest Avenue to knock on doors and promote a district determined to reinvent local schooling.

The Dorchester Reporter
By: Russell Holmes
August 25, 2010

In early February, when I was contemplating a run to be your state representative, Allstate Insurance ran an ad that asked the following question: "Years from now, how will we look back on today, as the Great Recession or the Recession that made us Great?" The ad talked about reassessing our values and what we think are important in these challenging times.

Tendersinfo News
August 25, 2010

EARN, the nation s leading provider of microsavings for low-income workers, has forged a new partnership with the San Francisco Redevelopment Agency (SFRA), an agency which exists to improve the environment of the city and create better urban living conditions through the removal of blight. The partnership will provide Individual Development Accounts (IDAs), also known as matched savings accounts, for SFRA Certificate of Preference holders: families that were displaced primarily from Western Addition Area A-2 and Hunters Point by redevelopment activities in the 1960s and 1970s. These IDA accounts will allow participants savings to be matched three-to-one with a maximum match of $5,000 per household; the program has sufficient funding to serve approximately sixty-four first-time homebuyers.

WSJV
By: Dave Schroeder
August 26, 2010

A Goshen group plans to revitalize the city through rehabbing homes.

WNCF
By: Morgan Hightower
August 24, 2010

When Governor Bob Riley created a commission in 2004 to focus on Alabama's Black Belt, he said the last thing the region's residents needed was another study of the persistent problems their communities face.

A Real Debate on Taxes

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The New York Times
August 23, 2010

A deadline is supposed to concentrate the mind. But the year-end expiration of the Bush-era tax cuts, and the November elections, are having the opposite effect.

Steal This Movie, Too

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The New York Times
By: Thomas L. Friedman
August 24, 2010

While Washington is consumed with whether our president is secretly a Muslim, or born abroad, possibly in outer space, I'd like to talk about some good news. But to see it, you have to stand on your head.

The St. Louis Post-Dispatch
By: Robert Boyle and Eddie Davis
August 24, 2010

The U.S. Census Bureau recently reported encouraging news about one segment of the nation's economy: The number of minority-owned businesses is increasing at unprecedented rates, and more minorities own their own companies than ever before. Yet, despite these signs of development, the bureau's findings also revealed a shocking disparity in racial economic equality: White-owned companies outnumber minority-owned businesses by almost four to one.

Upside Down

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ABA Banking Journal
By: Melanie Scarborough
August 24, 2010

Homeownership, the cornerstone of the American Dream, has become the American Nightmare for many: mortgage-holders watching their home values plummet, applicants facing tough qualifying standards, and bankers who would like to lend but are struggling under regulatory constraint.

The Arizona Republic
By: Peter Corbett
August 24, 2010

Julianna Martinez feels blessed to be in her renovated home.

The Christian Science Monitor
By: Amanda Paulson
August 24, 2010

A report released Tuesday ranks cities not in terms of best-performing schools but on their openness to outside ideas and education reform.

Education entrepreneurs - the sort of people who want to open a new charter school, or have an innovative way to get talented new teachers into schools - would do well to head to New Orleans. Or Washington or New York.

The Huffington Post
By: Jonathan Lewis
August 23, 2010

Conferences have always been a special breed of human activity. Like automobile hood ornaments, no one is quite certain why they are necessary, but they are.

American Banking & Market News
August 24, 2010

Funds Matched 3:1, $5,000 Maximum Match per Household

Program Participants to Receive Financial Management Training & First-Time Homebuyer Training

SAN FRANCISCO--(BUSINESS WIRE)--EARN, the nation's leading provider of microsavings for low-income workers, has forged a new partnership with the San Francisco Redevelopment Agency (SFRA), an agency which exists to improve the environment of the city and create better urban living conditions through the removal of blight.

The New York Times
By: Stephanie Strom
August 21, 2010

In late July, the Social Innovation Fund, a new $50 million federal program aimed at financing the replication of nonprofit programs that work, made its first grants.

The Wall Street Journal
By: Deborah Solomon and Nick Timiraos
August 24, 2010

The Obama administration may propose that any federal backing of mortgages be paid for through fees on the lending industry, according to people familiar with the internal discussions.

The Wall Street Journal
By: Martin Vaughan and Corey Boles
August 23, 2010

Karen Port of St. Louis fears that President Barack Obama's plan to let tax rates rise for top earners will be a double whammy for her hot-tub dealership.

Microloans gain popularity

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The Columbia Daily Tribune
August 23, 2010

Stimulus funds help businesses.

NEW YORK -- Like many small businesses caught in the worst economic crisis since the Great Depression, Tri-State Biodiesel was struggling to find capital last year, in the middle of a credit crunch.

Sacramento Bee
By: Jim Wasserman
August 24, 2010

In a first of its kind in California, the Sacramento Association of Realtors will give qualified homebuyers $2,000 in cash to help make energy-efficient improvements.

National Public Radio
By: Larry Abramson
August 24, 2010

For many children of New Orleans, their world was turned upside down five years ago when Katrina swept through the city.

The Boston Globe
By: Erin Ailworth
August 21, 2010

American workers, many in their prime earning years, are raiding their retirement savings in record numbers to either stave off eviction or foreclosure, pay for college, or buy a home.

The Washington Post
By: Michelle Singletary
August 22, 2010

Entering freshmen at colleges across the country will be the first class of regular-semester students to face credit card restrictions under the Credit Card Accountability, Responsibility and Disclosure Act of 2009.

Debt's Deadly Grip

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The New York Times
By: Gretchen Morgenson
August 21, 2010

IT'S one of the toughest lessons an investor has to learn: while the value of assets can plummet posthaste, it takes forever to shrink the debt that was used to buy them.

The Wall Street Journal
By: Nick Timiraos
August 21, 2010

The Obama administration's loan-modification program appears to be running out of eligible borrowers who can qualify for restructured loans.

The Wall Street Journal
By: Sudeep Reddy
August 22, 2010

Federal and local governments are trying new efforts to lure "unbanked" consumers into the financial mainstream.

EGPNews
August 19, 2010

In December 2009, the FDIC released a report stating that households in Latino communities in Los Angeles and Orange counties were more than 40 percent unbanked or underbanked.

The Commercial Appeal
By: Amos Maki
August 19, 2010

A new program will inform citizens about predatory lending that targets Memphis homeowners who are attempting to refinance mortgages or prevent foreclosure.

The Index-Journal
By: St. Claire Donaghy
August 20, 2010

Manufactured home retailers are reporting big gains in new home sales nationally and locally.

The New York Times
By: Paul Tough
August 19, 2010

HOW much evidence does the government need before trying something new in the troubled realm of public education? Should there be airtight proof that a pioneering program works before we commit federal money to it -- or is it sometimes worth investing in promising but unproven innovations?

Foreclosures Grind On

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The New York Times
Editorial
August 19, 2010

There is a lot of grim economic news out there, including Thursday's report that initial claims for unemployment insurance rose to half a million people last week. The news on housing -- where the financial crisis began -- is also bad. And the government's response to high foreclosure rates continues to fall far short of what is needed to help Americans hold on to their homes and to stabilize home prices.

The Wall Street Journal
By: Martin Vaughan and Corey Boles
August 19, 2010

Small-business legislation pending in the Senate would aid some profitable firms with tax breaks, but opinions are mixed on the extent to which it would help get credit flowing again.

USA Today
By: Paul Wiseman
August 18, 2010

WASHINGTON -- Federal housing policy offers the wealthiest Americans billions in tax breaks without delivering much bang for the buck in increased homeownership, critics told government policymakers Tuesday.

Nextgov
By: Brian Kalish
August 17, 2010

The Treasury Department's Bureau of the Public Debt launched an interactive website on Monday to teach young children fiscal responsibility.

The New York Times
By: Jay Goltz
August 19, 2010

I understand social. I understand entrepreneur. But when you put the two words together, I have to pause.

The Washington Post
By: Michelle Singletary
August 19, 2010

The Obama administration wants for-profit career colleges to better prepare students for gainful employment and to improve debt-repayment rates. The government is threatening to pull access to federal student aid for colleges that fail to show progress.

The Wall Street Journal
By: Sudeep Reddy
August 18, 2010

Efforts Target Households That Use High-Cost Check-Cashing Services

Federal and local governments are trying once again to persuade some of the 17 million U.S. adults who rely on check-cashing services to open their own bank accounts.

The Wall Street Journal
By: Jared A. Favole
August 17, 2010

President Barack Obama Tuesday urged Senate Republicans to stop what he said is the obstruction of legislation that would allow small businesses to tap capital and boost jobs growth.

The Wall Street Journal
By: James R. Hagerty
August 18, 2010

Anna and Charlie Reynolds of St. George, Utah, were worried about losing their home to foreclosure last year. Then they got a lucky break--from an unlikely savior.

The Future of Housing Finance

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The Wall Street Journal
By: Edward Pinto
August 17, 2010

We'll never get a rational mortgage system until the government's affordable housing mandates are ended.

Today the Obama administration will begin a discussion on how to overhaul our nationalized housing finance system. Moderated by Treasury Secretary Timothy Geithner and Shaun Donovan, secretary of the Department of Housing and Urban Development (HUD), the "Conference on the Future of Housing Finance" seeks answers to what went wrong in the U.S. housing market. This promises to be the next big domestic policy debate--one that could mold housing finance for a generation or more. But the early signs of where policy makers might be headed are not promising.

National Pulic Radio
August 16, 2010

NEAL CONAN, host:

This is TALK OF THE NATION. I'm Neal Conan in Washington.

News & Observer
By: Jesse James Deconto
August 17, 2010

RALEIGH -- It's 10:20 on a Tuesday night. Christian Ruiz, 29, leans down and picks up two 50-gallon garbage bags, transparent to the dirty tissues and crumpled paper of a busy eyeglasses clinic and factory on Six Forks Road in North Raleigh.

The Boston Herald
By: Greg Turner
August 16, 2010

Call her the ``coaster child'' of Jim Koch's ``Brewing the American Dream'' project.

Brattleboro Reformer
August 14, 2010

BRATTLEBORO -- Southeastern Vermont Community Action (SEVCA) announces that it has spaces available for its matched savings program, the Vermont IDA (Individual Development Account), available for low-income residents of Windsor and Windham counties.

Start-Ups on a Shoestring

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The Wall Street Journal
By: Emily Maltby, Sarah Needleman and Colleen DeBaise
August 16, 2010

The tales of three entrepreneurs who launched companies--for less than $150

You don't have to break the bank to start a business.

Newgeography
By: Steve Lafleur
July 30, 2010

Home ownership has been considered an integral part of the American Dream for as long as anyone can remember. Now it has come under scrutiny, notably in a June Wall Street Journal piece by Richard Florida, which claims that that home ownership reduces employment opportunities for young adults, since it limits their mobility. To support ownership, others -- particularly Wendell Cox -- have argued that home ownership levels do not correlate with the economic productivity of cities, and cite the rapid suburban development in the Sunbelt as evidence that home ownership is as valuable as ever.

Shreveport Times
By: Bobbie J. Clark
August 15, 2010

Sales of manufactured and modular homes are back on the rise after falling prey to the recession over the last couple of years.

FHA Gets Tougher on Mortgages

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The Wall Street Journal
By: Jennifer Waters
August 15, 2010

Consumers looking for home loans backed by the Federal Housing Administration will face tougher hurdles and higher costs under new legislation and new rules that could take effect as soon as this month.

The Wall Street Journal
By: Valerie Bauerlein
August 14, 2010

From Atlanta Suburbs to Chicago, Economic Woes Lead to Surge in Applicants for Waiting Lists to Receive Federal Subsidy

EAST POINT, Ga.--The weak economy has expanded the ranks of people chasing the limited number of federal housing vouchers, leading to a surge in applications nationwide and chaotic scenes here this week.

How to Close the Achievement Gap

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Newsweek
August 16, 2010

The world's best schools offer important lessons about what works.

All over the world, your chances of success in school and life depend more on your family circumstances than on any other factor. By age three, kids with professional parents are already a full year ahead of their poorer peers. They know twice as many words and score 40 points higher on IQ tests. By age 10, the gap is three years. By then, some poor children have not mastered basic reading and math skills, and many never will: this is the age at which failure starts to become irreversible.

The Florida Times-Union
By: Topher Sanders
August 15, 2010

Staff introduces its first fifth-graders to KIPP's style, high expectations.

Just in case the fifth-graders forgot, KIPP Impact Middle School math teacher Shawn Jackson reminded them that it's the No. 1 reason they were at the school.

Residents buy mobile home park

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Daily Inter Lake
By: Shelley Ridenour
August 12, 2010

Aug. 12--The new owners of a mobile home park in Kalispell made history Friday when they formed a cooperative and bought the court where they live.

The Washington Post
By: Zachary A. Goldfarb
August 13, 2010

Affordable-housing advocates raised concerns Thursday that the Obama administration is excluding consumer and community groups from playing prominent roles in a government-sponsored conference next week that will kick off efforts to overhaul national housing policy.

Teach Them Well

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Black Enterprise
By: Robin White Goode
August 13, 2010

LAST SUMMER, 16-YEAR-OLD CALVIN O'Neal worked for the New York City Summer Youth Employment program at a public relations firm that paid him by way of a debit card. Many simply spent their earnings, but not Calvin. His parents, Eric and Theresa O'Neal, have been teaching him and his 13-year-old brother, Christian, about money management for years. "Twenty percent of every paycheck went into the bank," says proud father, Eric. "He was saving for a laptop," Theresa adds, "so sometimes he would even walk home to save on carfare."

The Coloradoan
By: Mary Atchison
August 12, 2010

Like many of us in Larimer County, when I get paid by my employer, I never see the paycheck.

The Wall Street Journal
By: Nick Timiraos
August 11, 2010

Home prices rose in two-thirds of U.S. metropolitan areas in the second quarter as the expiration of home-buyer tax credits spurred sales, the National Association of Realtors said Wednesday.

The New York Times
By: David Streitfeld
August 11, 2010

PHOENIX -- During the great housing boom, homeowners nationwide borrowed a trillion dollars from banks, using the soaring value of their houses as security. Now the money has been spent and struggling borrowers are unable or unwilling to pay it back.

The New York Times
By: David Streitfeld
August 11, 2010

In an acknowledgment that the foreclosure crisis is far from over, the Obama administration on Wednesday pumped $3 billion into programs intended to stop the unemployed from losing their homes.

USA Today
By: Kathy Chu
August 12, 2010

'Unfair' business practices drove up overdraft fees

A California federal judge has ordered Wells Fargo to refund $203 million in overdraft fees to customers affected by the bank's "unfair and deceptive" practice of clearing transactions from largest to smallest dollar amount.

The Washington Post
By: Michelle Singletary
August 12, 2010

The Internal Revenue Service has dealt a hard blow to a tax product that has long needed to be knocked out.

The Chicago Tribune
By: Mary Ellen Podmolik
August 11, 2010

Potential director says new bureau not waiting for chief's appointment

The Consumer Financial Protection Bureau has no director, but infrastructure for the agency that will regulate mortgages, credit cards and other consumer products already is being developed, said one of the Washington insiders under consideration to head the bureau.

MyBankTracker
August 10, 2010

Amid all the upheaval at the top of America's economic food chain, it is sometimes easy to overlook the plight of those citizens who are not a part of the banking system at all.

The Wall Street Journal
By: April H. Lee
August 11, 2010

Like many small businesses caught in the worst economic crisis since the Great Depression, Tri-State Biodiesel was struggling to find capital last year in the middle of a credit crunch.

'American dream' sours for some

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The Columbia Daily Tribune
August 9, 2010

Foreclosure crisis changes views on homeownership

ORLANDO, Fla. -- Bruce Baldwin is well past the "extreme excitement" he felt when he became a first-time homeowner three years ago.

MSN Money
By: Rachel Haig
August 6, 2010

Experts at think tanks on both ends of the political spectrum embrace the idea (which Democrats will soon propose), but businesses are balking.

It's no secret that most Americans haven't saved enough for retirement. The Wall Street Journal recently reported that half of all U.S. families have no retirement savings whatsoever, meaning they will rely on Social Security benefits to cover living costs in retirement -- a dreary situation considering that the average Social Security payout is about $11,000 a year and the system is already under duress.

Muskogee Phoenix
By: Cathy Spaulding
August 6, 2010

When the nationwide manufactured home retailer Clayton Homes reported a 22 percent spike in sales so far this year, the local dealer said their sales spike may not be that steep.

Teen Moguls Learn Their ABCs

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Daily News
By: Phyllis Furman
August 9, 2010

The faltering economy is raising demand for a program that teaches kids to become entrepreneurs

If you're like many parents who lose sleep worrying about their kids slipping away in a crowd, Steven Gordon may have a solution for you.

Steven isn't a dad - let alone an adult.

Contra Costa Times
By: Eve Mitchell
August 9, 2010

First-time homebuyers of existing homes who want to take advantage of a state income-tax credit worth up to $10,000 have until Aug. 15 to turn in their applications.

Rentals harder to find, afford

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The Boston Globe
By: Megan Woolhouse
August 10, 2010

Surge in foreclosures in region transforms market for apartments

The region's rental market has tightened in recent months, with apartment vacancies falling and rents rising for the first time since the beginning of the economic crisis.

The Fayetteville Observer
By: Michael Zennie
August 7, 2010

Aug. 07--It's a simple business pitch -- build a ski slope in Fayetteville, run a pack of artificial snow makers on overdrive and charge people $25 a pop to ski down the hill. It's a lot cheaper than flying to Colorado or Utah for a weekend in the mountains.

The Minnesota Daily
By: Miranda Taylor
August 9, 2010

In recent years, the University of Minnesota has witnessed a slow decline in the number of new startup businesses based on its research.

Bloomberg News
August 6, 2010

The Internal Revenue Service said it will no longer help banks including HSBC Holdings Plc and Republic Bancorp Inc. underwrite tax refund loans that lawmakers and consumer groups say carry unfairly high interest rates.

The Washington Post
By: Zachary A. Goldfarb
August 7, 2010

For several decades, whenever a question of housing policy came up in Washington, two companies dominated. Fannie Mae and Freddie Mac marshaled armies of lobbyists, deep political connections and millions of dollars in contributions to get their way.

Charlotte Observer
By: Peter A. Coclanis
August 7, 2010

Fringe bankers marketed subprime home loans to the poor,then sold loans in toxic bundles to unknowing investors

Until the onset of the Great Recession, most Americans had never heard of subprime markets. With the bursting of the real estate bubble in 2007, one mainstay of such markets, subprime mortgages, became news, receiving much of the blame. Over the past three years, such mortgages and virtually every other aspect of our financial system have been subjected to close scrutiny, numerous abuses have been exposed, and tighter regulation is being put into place.

The Washington Post
By: Michelle Singletary
August 7, 2010

In the real estate world, there was one word that used to be the cardinal rule: location, location, location.

The Washington Post
By: Matt Sedensky
August 9, 2010

In one of the most striking fallouts from the bad economy, Social Security is facing a rare shortfall this year as more people opt to collect payments before their full retirement age. Adding to the strain on the trust are reduced tax collections due to unemployment levels hovering at 9.5 percent.

The Oregonian
By: Carolina Hidalgo
August 7, 2010

Beneath a small farmers market canopy, Teresa Lopez peeks into steamy metal pots and counts her vegetable, chicken and cheese tamales. Two grandchildren dole out fresh fruit juice while her daughter, Rosa Govea, plucks out tamales, douses them with salsa and exchanges them for a few dollars.

The Wall Street Journal
By: Dyan Machan
August 6, 2010

Bank lending to small businesses is still in the dumpster, and venture capital investment remains way down. But even if times were flush, some entrepreneurs would rather get funding elsewhere. Business owners like Erica Duignan Minnihan and Susan Reiner wouldn't take out a bank loan if President Obama delivered it on a silver platter. They've turned to a capital source often better suited to slow-growing times: friends and family.

The Wall Street Journal
By: AnnaMaria Andriotis
August 9, 2010

Is this the end of the cheap Federal Housing Administration mortgage?

Life & debt

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The Arizona Republic
By: Megan Neighbor and Kiah Haslett
August 8, 2010

Skipped credit-card payments -- from five years ago or two years ago or six months ago -- have a pulse of their own. That debt lives on, generating phone calls, collection notices and unrelenting stress.

Modesto Bee
August 8, 2010

Do we -- you and I -- make good financial decisions? We all want to think so, but there's troubling evidence to the contrary. In recent years, we've seen:

GetRichSlowly.org
August 6, 2010

My philosophy on credit cards has changed completely in the last five years. I've gone from anti-credit-card to pro-credit-card -- but only for those who can use them responsibly. I think they're a great convenience, and I like getting cash back when I use mine.

The Washington Post
By: Ovetta Wiggins
August 6, 2010

U.S. Department of Housing and Urban Development Secretary Shaun Donovan announced Thursday that $79 million in federal grants will be made available to reduce foreclosures and assist families looking for housing.

The New York Times
August 5, 2010

WASHINGTON (AP) -- Initial requests for jobless benefits rose last week to the highest level since April, a sign that hiring remained weak and that some companies were still cutting workers.

The Washington Post
By: Steven Pearlstein
August 6, 2010

In pledging to give away half their fortunes to worthwhile causes, 40 of the country's billionaires have resurrected and updated Andrew Carnegie's doctrine of the "gospel of wealth." Like Carnegie, the organizers of "the giving pledge" -- Warren Buffett, and Bill and Melinda Gates -- have campaigned against the practice of bequeathing their fortunes to the next generation of family members, whose traditional role is to squander it. (Buffett and Melinda Gates are Washington Post Co. directors.) And like Carnegie, many of the other 37 who signed the list are entrepreneurs who got rich by building great companies that continue to create wealth even as they give away their own.

The Commercial Appeal
By: David H. Lillard Jr.
August 5, 2010

The world is rapidly changing - and no one will feel the effects of those changes more than our children.

US Fed News
August 4, 2010

Rep. Linda T. Sanchez, D-California has introduced the bill (H.R.6067), legislation that would "increase by $25 million the funding available for individual development accounts for each of fiscal years 2011 and 2012, and to amend the Internal Revenue Code of 1986 to eliminate the domestic production deduction for coal and other hard mineral fossil fuels."

The Wall Street Journal
By: Ruth Simon
August 5, 2010

Pinnacle Bank made just two loans through the Small Business Administration in 2007 and 2008. So far this year, the Orange City, Fla., bank's total is nine, to borrowers from an auto dealer to a computer-equipment wholesaler to a bakery.

The Wall Street Journal
By: Barbara Weltman
August 5, 2010

If you're a small-business owner seeking more training for yourself or for your staff, now is the time to enroll for the fall term. Fortunately, Uncle Sam helps defray the costs of education by providing important tax breaks.

The Wall Street Journal
By: Emily Maltby
August 5, 2010

Harry Clark, a serial entrepreneur from Temecula, Calif., is taking a hard-line approach these days when investors, landlords or banks ask him for a personal guarantee. He's refusing to give them one.

The Washington Post
By: Michelle Singletary
August 5, 2010

Within the massive financial reform package is a requirement for no fewer than seven studies intended to help protect individual investors.

49 Applicants Win i3 Grants

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Education Week
By: Michele McNeil
August 4, 2010

The U.S. Department of Education announced Wednesday that 49 districts, schools, and nonprofits beat out more than 1,600 other applicants in the competition for $650 million in grants from the Investing in Innovation, or i3, fund.

The Myrtle Beach Sun-News
By: Adva Saldinger
August 5, 2010

Carolinas homeowners facing foreclosure as a result of unemployment or other unavoidable financial problems may soon be eligible for aid through plans approved by the federal government Wednesday.

Who Owns the Wind?

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YES! Magazine
By: Marjorie Kelly and Shanna Ratner
August 5, 2010

Drive across southern Minnesota near the city of Luverne, and you'll see clusters of wind turbines poking up through the cornfields. Climb into one of these sleek, gleaming, white towers, and you'll find sophisticated computer controls monitoring dozens of factors every moment (wind speed, pressure on the blades, and so on). Yet the way the turbines are funded and owned is just as innovative as the technology that runs them.

The Minnesota Daily
By: Miranda Taylor
August 4, 2010

The research could create new jobs in biotechnology and renewable energy.

In recent years, the University of Minnesota has witnessed a slow decline in the number of new startup businesses based on its research.

The Washington Post
By: Ylan Q. Mui
August 4, 2010

Americans have rebuilt their savings to the highest level in a year even as uncertainty grows about the strength of the economic recovery as government stimulus programs phase out.

The New York Times
By: Jim Witkin
August 4, 2010

The clean-tech innovations that will solve the world's most urgent environmental problems might come from where we least expect it: by first serving the needs of consumers at the base of the economic pyramid, says Stuart Hart, a professor of management at Cornell's Johnson Graduate School of Management and chairman of the university's Center for Sustainable Global Enterprise.

Campus Progress
By: Quantesa Roberts and Edward Wixler
August 3, 2010

What does a High School Musicalstar, an economist, and the owners of Georgetown Cupcake have in common? They were all witnesses at a Senate Committee on Small Business and Entrepreneurship discussion on the obstacles facing young entrepreneurs and the growth of small business.

The San Francisco Chronicle
By: Tom Abate
August 4, 2010

Three years ago, Loretta Nguyen took a business training class and scraped together several thousand dollars to start silk screening T-shirts and hoodies that she initially sold at street fairs and over the Web.

Microlending Green

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Your Olive Branch
By: Kim
August 4, 2010

Last fall, I became familiar with microlending after reading a post by my blog-sistah, Consciously Frugal.

Fort Worth Star-Telegram
By: Sandra Baker
August 4, 2010

Housing and Urban Development Secretary Shaun Donovan told a group of black real estate professionals Tuesday in Fort Worth that while the Obama administration has made strides in ensuring affordable housing for all, there's still room to improve.

The Huffington Post
August 3, 2010

Virgin America and Twitter have joined forces to launch a Fly Forward, Give Back airfare sale for charity. For 24 hours, $5 will be donated to education-focused nonprofit organizations for every direct booking made through Virgin America.

The Chicago Tribune
By: Becky Yerak
August 3, 2010

Second Federal Savings isn't your typical financial institution.

The Economist Blog
By: S.D. London
August 2, 2010

THIS week, we carried a piece about a new cross-country poverty index devised by a group of researchers at the Oxford Poverty and Human Development Initiative, which is designed to capture several dimensions of poverty at once. The idea, as the piece explains, is that some aspects of poverty (say, nutrition) may not always move perfectly with income, so that looking directly at how many people are deprived along several (admittedly subjectively chosen) dimensions at once may give researchers and policymakers a better handle on just what poor people lack, and what could be done to deal with these problems. So, for instance:

Collector
August 3, 2010

Americans still aren't making the most of hard-learned credit lessons, according to the results of a recent survey conducted by Harris Interactive on behalf of Lending Club, a U.S. peer lending network. Most adults know their credit scores (69 percent) and most adults with credit cards know their credit card interest rates (83 percent). However, those who know their rates are still paying too much (64 percent pay 14 percent or more). Sixty-five percent of credit card users don't bother negotiating for better interest rates even though 93 percent know they can.

The Wall Street Journal
By: Kelly Greene and Eleanor Laise
August 3, 2010

Roughly a year into the current economic expansion, U.S. corporations and their shareholders are enjoying surging profits and rising dividends--yet many employees are still waiting for the restoration of one of their most important benefits, the 401(k) match.

Des Moines Register
By: Joe Kelly
August 1, 2010

The Register has recently published numerous articles and editorials on conditions in Iowa mobile home rental properties owned by the Churchill Group of Carbondale, Colo. The Iowa Manufactured Housing Association (IMHA) will not defend Churchill.

The News & Observer
By: Mary Louise Schumacher
July 31, 2010

There is something bewitching about a tiny house.

The Wall Street Journal
By: Barbara Martinez
August 2, 2010

Statewide, They Fall Further Than Traditional Public Schools, but in the City, They Still Outperform District Competitors

The Equity Project Charter School garnered headlines and accolades when it opened last September with an unusual plan: recruit top teachers and pay them $125,000--substantially more than the average teacher salary anywhere in the country.

The Washington Post
By: Susan Kinzie
August 2, 2010

It's another sign of private money shaking up public education in the District: A $5.5 million gift will dramatically help expand a network of high-performing charter schools in the city, with a goal of more than doubling the number of students enrolled by 2015.

The Washington Post
By: Edmund L. Andrews
August 1, 2010

Edmund L. Andrews works for The Fiscal Times, an independent news organization that specializes in fiscal and economic matters. It is funded by Peter G. Peterson, who separately supports groups that advocate for long-term debt reduction.

He may be locked in combat with Wall Street and the Business Roundtable, but President Obama spoke nostalgically last week about the virtues of small business.

Time to Quit Your Old 401(k)s?

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The Wall Street Journal
By: Carolyn Geer
August 2, 2010

When changing employers, many workers leave money in the company retirement plan. But moving the dollars to your new firm or an IRA might be a better deal. Here's how to decide.

Financial planner Rick Brooks increasingly finds himself tangling with what he and his colleagues call "yapping dogs." Not the canine variety, but the 401(k) type--those pesky retirement accounts many people leave behind in their ex-employers' 401(k) plans when they change jobs.

New Rules for Mortgage Lenders

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The Wall Street Journal
By: Amy Hoak
August 1, 2010

In some parts of the country, it doesn't take much to become a mortgage-loan officer. Not a license, not much training.

The New York Times
By: Tara Siegel Bernard
July 31, 2010

If you are worried about the future of Social Security, join the crowd.

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