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) At Home: Debt consolidation loans can be shark-infested swim to solvency
To the person drowning in debt, a debt-consolidation loan looks a lot like a lifesaver. But reaching for it without knowing exactly what it's made of could be a serious mistake. The way it's supposed to work: You pay off all your small, high-interest consumer debts with the proceeds of a new low-interest loan whose payment is less than the total of the smaller payments. In theory, consolidation is a terrific solution for a burdensome debt situation. In reality, it can force you into even more treacherous waters. Basically, there are three ways to consolidate: 1. A new low-interest signature (unsecured) loan from an individual, bank or credit union. If you can get it, this type of debt consolidation is ideal. 2. Transferring all of the balances to a new credit card. More>> - (
) You Call That A Bailout?
Imagine walking into a hospital with chest pains and the doctor telling you that he will do his best to treat you in a few months. Such is the latest development on the U.S. bailout/bust front.
Having already worked with the U.S. Treasury for more than a month, Citigroup, Bank of America, JP Morgan, and others are reportedly ironing out the final details for $75 billion to $100 billion �master liquidity enhancement conduit (MLEC)�. According to the New York Times, �the effort is intended to help SIVs [structured investment vehicles] that need to sell securities do so in an orderly manner.�
All this sounds well and good. However, the MLEC in question is not expected to be up and running for at least 90-days. Moreover, the assets that the MLEC will be permitted to purchase are not of the subprime variety:
�To maintain its credibility with investors from whom it would raising money, the conduit will not buy any bonds that are tied to mortgages made to people with spotty, or subprime, credit histories. More>> - (
) Nigeria: Zira Maigadi - the Ex-Oxygen-Provider At African Petroleum Plc.
The latest news from the boardroom of Africa Petroleum Plc is a dampner. The boardroom has claimed one of its own. In a dramatic change of musical chairs, Femi Otedola, the new corporate czar, emerged as the new CEO. In a flex of corporate muscles wrapped in intrigues and bare-knuckles tactics, reminiscent fo a highly prized boxing bout, which followed a court order as a result of acrimonious litigation among owners, sae Maigadi showed aside. . More>> - (
) Citibank Announces New Way for Consumers to Manage Student Loan Debt
The Student Loan Corporation (SLC), a subsidiary of Citibank N.A., and a leading originator and consolidator of student loans, announced today the launch of a new Private Consolidation Loan product. With this new product, and in conjunction with SLC's existing suite of products, consumers can now consolidate virtually any student loan with Citibank, federal or private, regardless of the original lender.The new Citibank Private Consolidation Loan allows consumers to better manage their expenses by combining qualifying private student loans into a single loan with a potentially lower monthly payment. Additionally, Citibank offers consumers the ability to choose between a low fixed or variable interest rate - whichever works better for them. Consumers also benefit from the simplicity and convenience of receiving a single statement and making a single payment each month. More>>
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) Growth Opportunities for Securities Firms in Wall Street Transcript Brokers and Asset Managers Issue
67 WALL STREET, New York - October 8, 2007 - The Wall Street Transcript has just published its Brokers & Asset Managers issue, a report offering a timely review of the sector to serious investors and industry executives. This 38-page feature contains an expert roundtable forum of leading industry analysts, and industry commentary through in-depth interviews with top management from 7 firms. The full issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.. More>>
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) Exide Technologies and Ballard Power Sign Agreement for Forklift Truck Power Solution
Vancouver, BC, October 10, 2007--(T-Net)--Ballard Power Systems (Toronto:BLD.TO)(NasdaqGM:BLDP) and Exide Technologies (NasdaqGM:XIDE), a global leader in stored electrical-energy solutions, announced they have signed an agreement to develop an on-board hybrid hydrogen fuel cell and lead-acid battery energy system for the forklift truck (or materials handling) market. Exide plans to meet all its hydrogen fuel cell needs in the forklift truck market over the next five years exclusively with Ballard fuel cells.
Ballard (www.ballard.com) is recognized as a world leader in the development, manufacture and sale of zero-emission hydrogen fuel cells. Ballard's work in the materials handling market has, to this point, been based on using the company's Mark9 SSL(TM) fuel cell stack as an alternative to lead-acid batteries. More>>