3/29 FOXBusiness.com

Please add updates@feedmyinbox.com to your address book to make sure you receive these messages in the future. FOXBusiness.com - FOX Business Network - We Report. You Decide. Bail Yourself Out ? Here's How March 27, 2009 at 5:41 pm It seems like there's a bailout for everyone these days -- except perhaps you. Rather than wait for one to fall into your lap, why not create your own? You can do it -- there are enough resources out there that you can put together a your own bailout plan. Sometimes the solution can be as simple as pinpointing one or two areas where you're having trouble. There are remedies if you know where to look and aren't afraid to ask for help. Here are a few common problem areas where you can concentrate your efforts: Food and groceries When it comes to keeping food on the table, "a lot of people need help," says Ross Fraser, media relations manager for Feeding America (formerly America's Second Harvest), which helps to supply most of the nation's food banks. So don't feel embarrassed asking for help, he says. Instead, "Get back on your feet, and then you can pay it back in kind," says Fraser. Here's how to find a local food pantry: visit FeedingAmerica.org or call the group toll-free at (800) 771-2303. Ask for the closest food bank (these are the large food collection groups located in your region or metro area). Call that food bank and ask for your local food pantries, which are the small local sites that actually distribute food to individuals. The staff at the food bank can also give you information about upcoming food giveaways, Fraser says. While food bank donations are up slightly, the need for food is up dramatically, says Fraser. Make sure to call ahead because some areas could have two-hour lines and food shortages. You might also want to inquire about food stamps, says Fraser. Income requirements vary from state to state, but the food bank or food pantry can brief you on qualification guidelines and tell you which state office you need to contact. Mortgages People having trouble making home payments should first call their lender, many of whom have pledged to help homeowners in financial trouble. Depending on your needs, you might ask to renegotiate your terms or simply add a couple of payments to the end of your loan. Contact the company currently servicing your loan. The department you want will typically have a name like "loss mitigation," "foreclosure avoidance," or "home preservation" and be a part of the company's mortgage division, says Allen Fishbein, director of housing and credit policy for the Consumer Federation of America. Alternatively, you might have access to a nonprofit housing counselor who will negotiate for you. Many are funded by or work with local governments. Call your local city, county or state government for a referral or contact NeighborWorks America, says Ira Rheingold, executive director of the National Association of Consumer Advocates. You can also find a certified housing counselor through the nonprofit National Foundation for Credit Counseling at HousingHelpNow.org. The Department of Housing and Urban Development, or HUD, can also be of assistance. Try finding a HUD-certified housing counselor on hud.gov or by calling 800-569-4287. This assistance should be provided by a legitimate nonprofit, not a business masquerading as one. No one should charge you for their services. When working out a solution, make sure it will work long-term, says Rheingold. If your payment has escalated beyond your means, a discount for a month or two won't solve your problem. If you're a veteran or have a VA loan, you can get some help from the U.S. Department of Veterans Affairs which can negotiate with your loan servicers to set up a workable arrangement. For vets with non-VA loans, the department can't negotiate directly but will coach homeowners, telling them who to contact and what to say to get what they need, says Steve Westerfeld, spokesman for the U.S. Department of Veterans Affairs. Call: (877) 827-3702. All services are free of charge. Health insurance For kids only: Investigate the State Children's Health Insurance Program, or SCHIP. Administered by the states, it's a federal program that provides low-cost insurance for children. Find out more by contacting your state insurance department. No insurance: Consider a high-deductible, "catastrophic" policy with a health savings account, or HSA. How it works: You purchase a plan with very high deductible but low premiums. It is paired with a savings account that allows you to bank pre-tax dollars to use for your deductible or other qualified health expenses. If you don't use the money, it stays in your account for whenever you need it.  Caveat: Not all high-deductible plans are equal and not all low-premium plans offer the same coverage. Read the fine print and have an agent answer all of your questions before you buy. Browse some options at InsureMe.com (a Bankrate company). Denied coverage: First, find out why you've been denied. If there was erroneous information on your medical records (or even correct information that only tells part of the story), getting the records amended could solve the problem. Discuss the problem with your doctor or the insurance administrator at your doctor's office to identify any possible misinformation in your file. Georgetown University's Center on Medical rights and Privacy maintains a Web site that will help you correct your records. You can also try a different carrier that may have more lenient underwriting regarding your condition. If you were denied because of serious health problems, consider buying coverage through a spouse's group health plan. While you pay all or part of the premium, it's usually cheaper and you can't be denied coverage. Alternatively, investigate your state's high-risk pool. Set up for people who can't get conventional insurance (and in some areas subsidized by the insurance industry), this will allow you to get coverage without excluding your health problems or paying exorbitant premiums. Caveat: It's not super cheap and, in some states, pools are closed or having waiting lists. Visit your state insurance department or call for details. Don't have insurance due to job loss: If a spouse's plan is not an option, take another look at your former employer's group plan. Thanks to the stimulus plan, this option just became 65 percent less expensive, and you may have a chance at enrolling. How this works: the Consolidated Omnibus Budget Reconciliation Act, or COBRA, allows you to stay on your company insurance, generally for up to nine months, as long as you pay 35 percent of the premiums. Prior to the economic stimulus package, employees had to sign up to remain on the group health plan within roughly 60 days of leaving the company and shoulder the full cost of the premiums. Therefore, if you took advantage of COBRA, you should see your premium drop 65 percent starting in March. If you were dismissed after Sept. 1, 2008, and didn't take COBRA coverage, you have another chance. Moreover, your premiums will reflect the new 65 percent discount. Government agencies are still ironing out just how long workers who initially passed on COBRA will have to apply, so to be safe, get your paperwork in place within 60 days of the stimulus bill's Feb. 17 signing date. Caveat: COBRA usually only applies to companies with 20 or more employees, plus the company still has to be operating and offering group insurance. Also, after nine months, you can continue COBRA for an additional nine months, but must pay the full premium. Contact your employer or the insurance company to get the forms. Your employer should provide them. If you get the runaround, call your state labor department. Car payments Getting behind on payments doesn't have to mean losing the car. First, decide if it's a need or a want. If you don't need that second car, it may be able to help free up money for other bills. If getting rid of the car isn't an option, there are other solutions out there. With a lease: Tally up the cost of getting out of the lease. Then call the leasing agency to learn if it's willing to renegotiate, says Jack Gillis, director of public affairs for the Consumer Federation of America and author of "The Car Book." Realistically, it may or may not work, depending on the value of the car and how anxious the agency is to keep you in it, he says. With a loan: Here you're in a better position when it comes to renegotiating your loan, especially if you owe more than the car is worth, says Gillis. If the loan company takes back the car, they take a loss. So it's to the company's advantage to keep you in the car. However, if your credit is still decent -- even if it's slightly tarnished -- it might be smarter to refinance the loan at a better rate. Try a few credit unions first, says Remar Sutton, president of the Consumer Task Force for Automotive Issues, and the founder of FoolProofMe.org. Since most of the credit unions bypassed the subprime lending meltdown, "that means credit unions aggressively are looking for people to lend money to," he says. The average person will save about $2,000 by refinancing a car loan, according to numbers from FoolProofMe.org. If you just need help with one payment, you might be able to get an extension, says Gail Cunningham, spokeswoman for the National Foundation for Credit Counseling. You cover just the interest, instead of the whole payment, and the loan company tacks the difference onto the end of your loan. However, most companies limit this practice to once or twice annually, she says. Job loss If you were fired or laid off, you're likely eligible for unemployment benefits. Get the details through your state employment office by using Bankrate's state map. Many unemployment offices also have job leads, and information on training programs. To polish your job seeking skills, visit the library or hit the Internet. Small bills Sometimes being able to pay the little bills can make a big difference. If you need help with a power or water bill, there are usually a couple of resources you can tap. Utilities: First, call the utility company. Sometimes you can arrange to pay the bill a month or so late. The company might also have a program for people who need help with bills. In addition, representatives may be able to direct you to community resources. Utilities and other bills: In about 80 percent of the U.S., dialing 211 will connect you to a local agency that can put you in touch with resources in your community, says Linda Daily, director of 2-1-1 for United Way of America. The 211 service "will act as triage" to help locate other resources in the community that can help, says Daily. If your area doesn't have 211 services or your phone carrier blocks it, go online to 211.org for local-dial numbers and information on options, she says. Or visit the United Way at LiveUnited.org.   This email was sent to businessnewsrightnow@gmail.com.  Create Your Account Don't want to receive this feed any longer? Unsubscribe here.

3/27 FOXBusiness.com

Please add updates@feedmyinbox.com to your address book to make sure you receive these messages in the future. FOXBusiness.com - FOX Business Network - We Report. You Decide. America's Nightly Scoreboard: We've Got You Covered March 26, 2009 at 7:10 pm Massive stimulus bills. Bank bailouts. Auto bailouts. A trillion-dollar budget proposal.  Blockbuster Ponzi schemes. You're outraged -- and so are we.   As our nation suffers the worst recession since the Great Depression, FOX Business is showing you how the government is spending your money.   We're doing whatever it takes to keep Washington honest.   We've won a Freedom of Information Act lawsuit against the Treasury Department urging the government to divulge details about its bailout actions. It's $700 billion -- we want to know where it's going and how it's being spent. Click here to read Where's My Money?! Tracking TARP We've also filed a FOIA lawsuit against the Federal Reserve for similar information (see a video here), and have sued the Securities and Exchange Commission over its failure to respond to an expedited request for information concerning alleged fraud mastermind R. Allen Stanford, who is accused of defrauding investors of billions of dollars.   America's Nightly Scoreboard, hosted by David Asman, is tracking your money every weekday from 7 p.m. to 8 p.m. Eastern time in a special series. To find FOX Business Network in your area, visit www.FOXBusiness.com/ChannelFinder.   This email was sent to businessnewsrightnow@gmail.com.  Create Your Account Don't want to receive this feed any longer? Unsubscribe here.

3/21 The News Now » Business

Please add updates@feedmyinbox.com to your address book to make sure you receive these messages in the future. The News Now » Business - News from around the World What is Affiliate Article Marketing and How Can it Help You? March 20, 2009 at 12:36 pm by Jackie Lee Affiliate article marketing can be the answer most new affiliate marketers are looking for in answer to the question "how do I get traffic to my site?". It seems getting a site up and running is not the hard part, getting eyes on the page is. What exactly ... Some Crucial Telephone Sales Education Concerns March 20, 2009 at 12:36 pm by Terry Stanfield It is extreemly grave in a slow market for valid telephone sales coaching. The competent coaching will assist your sales staff in feeling more at ease about calling customers which will increase their sales. The proper instruction will also increase your team's proficiency level which will lead to ... Download MSN Messenger Again March 20, 2009 at 12:36 pm by Lian Maksin Written by: Toddler Wooden Bed. Faster than any email and a lot more discreet than a phone, MSN messenger is a great Internet capability provided by Microsoft to encourage free instantaneous communication. You can download MSN with its latest version, customize the features and get easy to ...   This email was sent to businessnewsrightnow@gmail.com.  Create Your Account Don't want to receive this feed any longer? Unsubscribe here.

3/19 The News Now » Business

Please add updates@feedmyinbox.com to your address book to make sure you receive these messages in the future. The News Now » Business - News from around the World www.OnlineBannersNow.com - Next Step in Internet Marketing March 18, 2009 at 7:46 am by John Stock OnlineBannersNow.com, a Los Angeles based website marketing company, provides a full suite of online website marketing solutions directed to the internet community. (PRWEB) April 21, 2004 -- OnlineBannersNow.com has built a strong technical and sales force aimed at providing the best online marketing services at the most affordable costs ... The Goal Is Credit Restoration March 18, 2009 at 7:46 am by Jenice Q Zenbella With the credit crunch making more difficult than ever to secure a mortgage, it's never been more important to make sure that you maintain a good credit score. While it is certainly possible to repair your credit after running into trouble, the best thing to do is ... Perspective On Bank Checks March 18, 2009 at 7:46 am by Arman Mosher A personal check up for the times ahead and, quite possibly, in the times to come depend on certain skills. Having your finances in order is customarily a benefit but so may be some other very elementary observances. If civil unrest breaks out and the National Guard is ...   This email was sent to businessnewsrightnow@gmail.com.  Create Your Account Don't want to receive this feed any longer? Unsubscribe here.

3/18 The News Now » Business

Please add updates@feedmyinbox.com to your address book to make sure you receive these messages in the future. The News Now » Business - News from around the World Shopping guide for ferragamo handbags, and shoes fans March 17, 2009 at 11:21 am by salffany www.ferragamohandbags101.com is the best blog for salvatore ferragamo shoes and bags lovers Designer shoes. Upon hearing those two words, many cringe and immediate think of the buckets of money that will be shelled out in a couple of minutes. True enough, designer shoes can be really expensive especially when you ... Discount Designer Gucci Coach Prada Handbags March 17, 2009 at 11:21 am by saelical SaleVogue.com sells just real womens handbags. We proudly stand behind the authenticity and quality of all merchandise sold on our site. We guarantee each and every product offered for sale on our site to be brand new, genuine and authentic. Start your order here from today to experience best ...   This email was sent to businessnewsrightnow@gmail.com.  Create Your Account Don't want to receive this feed any longer? Unsubscribe here.

3/17 The News Now » Business

Please add updates@feedmyinbox.com to your address book to make sure you receive these messages in the future. The News Now » Business - News from around the World What Can You Learn About Personal Branding from Ketchup? March 16, 2009 at 8:46 am by Marva L. Goldsmith Tomatoes + spices + high fructose corn syrup = ketchup. Right? Pretty much. For the most part we can agree that all brands of ketchup are made of essentially the same ingredients. So, how does one brand distinguish itself from all the other ketchup bottles on the ...   This email was sent to businessnewsrightnow@gmail.com.  Create Your Account Don't want to receive this feed any longer? Unsubscribe here.

3/16 FOXBusiness.com

Please add updates@feedmyinbox.com to your address book to make sure you receive these messages in the future. FOXBusiness.com - FOX Business Network - We Report. You Decide. How Madoff Made Off With Investors' Money, And Other Questions March 15, 2009 at 1:03 pm BOSTON -- At such a confusing time for the securities markets, mutual-fund investors understandably have questions. Here are some answers: Joe in Santa Barbara, Calif. writes: When Bernie Madoff pleaded guilty for his Ponzi scheme, he said that he had never invested the money that people gave him to put in his fund. I have been giving my adviser my money for years to invest in funds. How do I know it's really there? Answer: Assuming you invest in mutual funds -- and not hedge funds or private investment pools -- checking up on your cash is pretty easy. Look at who you've been writing the checks to; if it's the fund firm, the brokerage firm or the servicing firm that handles the fund's transactions, you're all set. If you made out checks directly to the adviser or to the planner's firm, that's a bad sign, because that's one way that a rogue adviser gains access to your cash. The law requires that funds have a custodian to keep the securities, cash and other investments owned by the fund. The rules also require a fund to have a bond against embezzlement and theft, covering anyone who might have access to the fund's assets. Just as important, however, is to see where the information you get about your account is coming from. You want a recognized mutual fund manager -- where you can verify prices independently and can contact the firm to verify your account. (Or to make sure that the fund company works with the advisory firm in the case of an "omnibus account," where the fund does not have the end customer's name but instead shows that it deals with XYZ Advisers.) In the case of hedge funds, private investment pools and the like, beware of statements that come directly from your adviser, and not from the third-party purported to be handling the funds. Make the right moves Reg in San Diego: You have written about studies showing that most investors don't even do as well as the mutual fund itself, because they add more money or sell shares at just the wrong time. I do try to invest regularly, but how can I tell if the moves I am making are helping me, or at least not hurting me? Answer: What you are looking to calculate here is your "dollar-weighted return," which basically shows whether your results are better or worse than your fund's. Grab a pencil, a calculator and your most recent statement showing all activity in a fund over the period you want to check (such as the past 12 months, the latest calendar year, or the past three years). From there, these three steps will give you a rough dollar-weighted calculation. Step 1: Subtract your account's balance at the start of the period from your current balance. Cut the result in half, even if it's negative, and then add back the money from that beginning balance. This is your "average monthly balance." Step 2: Add up your starting balance and any additional investments or distribution reinvestments made during the period. Subtract this total from your current balance. If you made any withdrawals from the fund, add them back now. The result is your "total gain" or if negative, "total loss" for the period. Step 3: Divide your total gain (or loss) by the average monthly balance and multiply the result by 100. In rough terms -- it's not perfect -- this will be your dollar-weighted return. Compare it to the fund over the same time period to see if you did better, worse or the same as the fund itself. If you do not make additional investments, your return would equal that of the fund. And if you make small additional investments -- say $50 or $100 per month to an account with $20,000 or more -- your investor return will likely be close to the fund's numbers with the possible exception of times with extreme volatility. What's more, some fund firms keep this data for you, so check your statements or call the fund before sharpening your pencil. Buying stocks on a budget Sandy in Baton Rouge, La.: I don't have a lot of money, and I don't know when the worst is over, but I do believe that the stock market will come back. I want to take advantage of cheap stocks. How can I buy funds if I don't have much money? Answer: Brand-name funds raised their minimum initial investments years ago, and while you can search a database -- like the one from the Mutual Fund Education Alliance (mfea.com) -- for options, you'll find that low-minimum issues have high expense ratios to make up the carrying costs of many tiny accounts. Look instead at the fund companies that interest you, and call to see if they will ignore the minimum deposit requirement if you make monthly automatic deposits. Many firms waive high initial hurdles -- or drop the minimum completely - for ongoing monthly deposits. At that point, you can invest in funds for as little as $50 per month. Copyright © 2009 MarketWatch, Inc.   This email was sent to businessnewsrightnow@gmail.com.  Create Your Account Don't want to receive this feed any longer? Unsubscribe here.

3/16 The News Now » Business

Please add updates@feedmyinbox.com to your address book to make sure you receive these messages in the future. The News Now » Business - News from around the World San Francisco Chronicle union OKs concessions - Reuters March 15, 2009 at 1:16 pm ABC News San Francisco Chronicle union OKs concessions Reuters NEW YORK, March 14 (Reuters) - Members of the San Francisco Chronicle's largest union have agreed to contract concessions that parent company Hearst Corp says are essential to keeping the newspaper open. View original post here:  San Francisco Chronicle union OKs ... Public Domain Law: A Layman's Introduction March 15, 2009 at 1:16 pm by James T Maxwell Disclaimer: what follows is not intended as advice about the law. It is, rather, a primer about public domain law and its possible uses for your business. First, let's talk about what public domain works are. These works are not eligible to be copyrighted or have passed ... How Internet Marketers Should Use Social Networking Sites March 15, 2009 at 1:16 pm by Chadwick Sites that feature social networking and online bookmarking have grown significantly in popularity in the last five years. It's hard, however, to know which to choose because there are so many of them. That's why so many Internet users find reviews of these type of sites so helpful. When reading ... Vital Signs: The Fed Waits for Results - BusinessWeek March 15, 2009 at 1:51 am New York Times Vital Signs: The Fed Waits for Results BusinessWeek By James Cooper It's Fed week. Original post:  Vital Signs: The Fed Waits for Results - BusinessWeek Norman Braman new on Forbes' list of world's richest - MiamiHerald.com March 15, 2009 at 1:51 am BBC News Norman Braman new on Forbes' list of world's richest MiamiHerald.com Some of the South Florida billionaires who managed to remain on a Forbes magazine list of the world's richest people saw steep drops in their fortunes since last year. Dangote, other world's richest lose $2tn to meltdown ... Wal-Mart to Open 2 Hispanic-Focused Supermarkets - FOXNews March 15, 2009 at 1:51 am Wal-Mart to Open 2 Hispanic-Focused Supermarkets FOXNews Wal-Mart will open two supermarkets targeting Hispanic consumers in Arizona and Texas, the Financial Times reported. Supermercado de Wal-Mart will open in remodeled retail spaces previously occupied by Wal-Mart's Neighborhood Market stores in Phoenix .. Original post:  Wal-Mart to Open 2 Hispanic-Focused Supermarkets - ... IMF Bailout Pool May Be More Than Doubled, G-20 Officials Say - Bloomberg March 15, 2009 at 1:51 am Voice of America IMF Bailout Pool May Be More Than Doubled, G-20 Officials Say Bloomberg By Brian Swint and Gonzalo Vina March 14 (Bloomberg) -- Group of 20 finance ministers pledged to at least double the International Monetary Fund's bailout pool as the economic crisis forces more countries to ... Senior Google Executive Leaves for AOL…Why? - Seeking Alpha March 15, 2009 at 1:51 am Straits Times Senior Google Executive Leaves for AOL...Why? Seeking Alpha Time Warner (TWX) has hired one of Google's most senior executives to run AOL. Original post:  Senior Google Executive Leaves for AOL...Why? - Seeking Alpha ID thieves targeting tax returns - MSNBC March 15, 2009 at 1:51 am WWLP 22News ID thieves targeting tax returns MSNBC LEE COUNTY: Identity thieves are now targeting tax returns to make money at your expense. In fact, the problem has become so bad, the Internal Revenue Service opened a special office to handle identity theft cases More:  ID thieves targeting tax returns - ... Letters: New Products Without Regulation - New York Times March 15, 2009 at 1:51 am Reuters Letters: New Products Without Regulation New York Times During the long debate about regulation of the financial services industry, the "free marketers" have argued against regulation with respect to new products. Here is the original post:  Letters: New Products Without Regulation - New York Times   This email was sent to businessnewsrightnow@gmail.com.  Create Your Account Don't want to receive this feed any longer? Unsubscribe here.

3/15 FOXBusiness.com

Please add updates@feedmyinbox.com to your address book to make sure you receive these messages in the future. FOXBusiness.com - FOX Business Network - We Report. You Decide. G20 Sees Need For 'substantial' Boost To IMF Funding March 14, 2009 at 12:56 pm HORSHAM, England -- Finance ministers and central bankers from the Group of 20 nations agreed Saturday on the "urgent need to increase [International Monetary Fund] resources very substantially," British Chancellor of the Exchequer Alistair Darling said. The amount of the increase remains to be determined and will be discussed when G20 leaders meet in London in early April, he said. Copyright © 2009 MarketWatch, Inc.   This email was sent to businessnewsrightnow@gmail.com.  Create Your Account Don't want to receive this feed any longer? Unsubscribe here.

3/15 The News Now » Business

Please add updates@feedmyinbox.com to your address book to make sure you receive these messages in the future. The News Now » Business - News from around the World Forex Trading Guide March 14, 2009 at 10:42 am by Dennis Durrel The stock markets are complex but you can inform yourself. If you are interested in success concerned along with the stock markets therefore one of the first trouble that you able to intend to discover in relation to is forex trading. The forex market is ... Benefits of Free Advertising March 14, 2009 at 10:42 am by Alex Wu Looking to promote a business, new product, or some new information that needs to be heard. Then why not try free advertisement. It is an easy and simple way to bring what you are offering to an extreme broad public. In a nutshell, the best reason to use free ... Spot Fake Cuban Cigars Immediately March 14, 2009 at 10:42 am by Joel Montana Cuban cigars are extremely desired, renowned worldwide for their ample flavors and smoothness. Cuban cigars are so treasured, in fact, that many criminal traders have traded fake cubans to unaware cigar smokers, so how do you tell the fake from the real thing? To protect yourself from forking ...   This email was sent to businessnewsrightnow@gmail.com.  Create Your Account Don't want to receive this feed any longer? Unsubscribe here.

3/14 FOXBusiness.com

Please add updates@feedmyinbox.com to your address book to make sure you receive these messages in the future. FOXBusiness.com - FOX Business Network - We Report. You Decide. Discover Gets $1.2 Bln From Treasury For Shares, Warrants March 13, 2009 at 6:18 pm SAN FRANCISCO -- Discover Financial Services said late Friday it received $1.2 billion under the U.S. Treasury's Capital Purchase Program. In exchange, the Treasury gets 1.2 million shares of preferred stock and a 10-year warrant to buy 20.5 million shares of its common stock for $8.96 a share. Copyright © 2009 MarketWatch, Inc. BofA CEO Shouldn't Be Chairman, Big Investor Says March 13, 2009 at 4:47 pm A longtime banking executive who sold his company to a Bank of America Corp (BAC) predecessor is calling on other shareholders to oust the embattled Kenneth Lewis as chairman of the largest U.S. bank. Jerry Finger said Lewis, who is also Bank of America's chief executive, took too many risks in acquiring troubled investment bank Merrill Lynch & Co. Finger is asking the U.S. Securities and Exchange Commission for permission to run a "vote no" campaign without formally soliciting other shareholders by proxy. "This group of directors needs to be aware of their duty to shareholders and needs to fulfill that," said Jonathan Finger, who with his father co-manages Finger Interests, an investment firm in Houston that primarily manages the family's capital. Shareholders have increasingly been voicing concern about Lewis' position following the troubled acquisition of Merrill and Bank of America's falling share price. The shares are down almost 60 percent year-to-date. The Fingers' campaign also calls for shareholders to reject the reelection of lead outside director O. Temple Sloan and Jackie Ward, chairwoman of the bank's asset-quality committee. Jonathan Finger said his family has had initial discussions with some of the bank's large institutional shareholders. "They are certainly open to hearing our side of the story," he said. The Finger family controls about 1.5 million Bank of America shares. "There's going to be a very strong outpouring of support for the (Fingers') campaign," said Richard Ferlauto, director of corporate governance and pension investment for the American Federation of State, County and Municipal Employees. "If the board were to move before the annual meeting to create an independent chair position, I think that would mollify at least for the time being these investors who are right now calling for Lewis' head." Jerry Finger founded Houston commercial bank Charter Bancshares, which merged with NationsBank in 1996. NationsBank later acquired BankAmerica Corp to become Bank of America in 1998. Separately, through Finger Interests Number One, the Fingers have filed a lawsuit in New York charging Bank of America executives and board members with concealing information by failing to disclose losses at Merrill Lynch ahead of a shareholder vote Dec. 5. "We have met with (Jerry) Finger several times to hear his concerns and have attempted to address them," a Bank of America spokesman said. Bank of America shareholders have proposed voting on eight issues at the April 29 annual meeting on subjects including executive pay, the election of board directors, credit card lending practices and whether to replace Lewis as chairman with an independent director. (Reporting by Elinor Comlay; Editing by Lisa Von Ahn and Andre Grenon) Reacting To Negative Triggers Keeps Investors From Looking Ahead March 13, 2009 at 3:38 pm BOSTON -- If you're a buy-and-hold investor and looking at your battered portfolio has you whimpering, you may be at the point of "learned helplessness." That's a psychological term which basically suggests you've been beaten into a cowering, quivering mess. At that point, however, learned helplessness becomes an investment strategy -- a bad one. Does learned helplessness describe your frame of mind? To find out, you need to understand the concept better. Without getting too technical, the premise comes from the study of canine behavior. Most everyone knows the story of Pavlov's dog, where the dog responded positively when a signal was given a positive stimulus. Ring the bell at dinnertime and the dog starts to associate the bell with dinner and starts salivating when the bell rings even when there's no dinner on the table. Other studies have focused on reaction to negative stimulus. Remove the bell and the dinner and put the dog in a situation where there's no reward with the stimulus, but rather pain or discomfort. The dog has no way to improve its situation, so when it sees the stimulus -- the equivalent of the bell ringing -- it loses emotional control, stops responding and starts whimpering. Emotional control The theory applies to humans because people want some measure of control in order to feel emotionally stable. "When people lose control, they become emotionally anxious, and while you never really have control over the stock market, right now many people have lost any illusion they may have held about their ability to control things," said Donald MacGregor of MacGregor-Bates Inc., a Eugene, Ore., firm that researches judgment and decision-making. "When you don't know who to trust, when you don't have any basis for setting your expectations, you can't take action," MacGregor added. "When you can't take action, you become disengaged -- and that's where millions of investors are." Yet there's a fine line between buy-and-hold and feeling helpless, and investors shouldn't try to overcome the feeling of futility by changing strategies hastily. That's a recipe for being whipsawed -- for selling low and buying high, mistakenly thinking that what happened in the market today will repeat tomorrow. Mind you, the market-timers and market technicians, the active investors and traders, the gold bugs and cash hoarders, have all been following a strategy that does not involve doing nothing. They may trade themselves into oblivion, but they won't cower; they'll use their strategy to fight to the end. Experts in investor psychology say dedicated buy-and-holders should fight to the end too. That means hanging on, betting that the nation's economy will bounce back. Reality check Even then, there are people for whom the potential for further loss is more than they can bear. Unable to control a market that keeps going down, these investors have to decide what comes next and not throw everything away in a panic. Terrance Odean, a professor at the University of California at Berkeley, says that part of what has gotten investors to the point of learned helplessness now is that they mistakenly thought they were in control all along. He noted that financial advisers, when first signing up a new customer, ask "Would you be able to handle losing, say, 50%?" "The client hears that and says 'It would be tough to lose it, but I could do it,'" Odean said. "The problem is that they made a static decision, thinking 'That's all I could lose.' But now they have lost that 50% and the same question applies, because no one can say the market won't go down from here." Odean added: "The right question to ask would be 'What would happen if you lost 50% and you had no idea what would happen next?' It turns out that's what we are living through right now and nobody was planning for that outcome at all. That's why they're frozen now over what to do." To get past that, investors need to look at where they are now -- no matter how ugly the situation is -- and say "What do I believe is the best course of action now?" Maybe you stick with long-time holdings, ride the index funds or reaffirm strong sentiment that certain stocks will be long-term winners. Or you pull back to a point that's more emotionally and financially comfortable. But giving up is not an option. "Learned helplessness means the individual is exhibiting no real behavior at all; they are not engaged," MacGregor said. "This market is where you are," he added. "You can lament that you didn't get out a while ago, but what really matters is what you do from here, and a lot of people are now so scared that they're not doing anything. That's not a plan of action." Copyright © 2009 MarketWatch, Inc. S&P Downgrades MGIC On Poor Performance March 13, 2009 at 3:35 pm SAN FRANCISCO -- Standard & Poor's on Friday downgraded MGIC Investment Corp. because of poor performance and concerns that rising unemployment could delay the company's recovery. S&P lowered its counterparty credit rating on MGIC to CCC from BB+, and its preferred convertible debt rating to C from B+. The outlook is negative. "These rating actions follow MGIC Investment's recent announcement that it elected to defer interest on its $390 million subordinated convertible debt offering," said James Brender, an S&P credit analyst, in a statement. "When an issuer elects to exercise its option to defer interest, it is our policy to lower the rating on that obligation to C." Copyright © 2009 MarketWatch, Inc. Obama Defends Focus On Other Items Besides Bank Woes March 13, 2009 at 3:10 pm WASHINGTON -- President Obama defended his decision Friday to turn his attention this week away from bank woes and the recession to discuss education and health-care reform. Obama's remarks echo comments made earlier by lower-ranking White House officials. They have argued that education and health care are also critical components of the economy. "It is very important...that we are laying the foundation for a post-bubble economic growth model," Obama said in a brief session with reporters following a meeting with former Federal Reserve Chairman Paul Volcker. At the same time, not a day goes without some discussion on how to unfreeze credit markets, he said. Copyright © 2009 MarketWatch, Inc. Bernanke To Be On CBS '60 Minutes' News Show Sunday: CBS March 13, 2009 at 1:14 pm WASHINGTON -- Federal Reserve Board chairman Ben Bernanke will sit down for a rare television interview on the CBS News program '60 Minutes' on Sunday, a spokesman for CBS News confirmed Friday. Bernanke has been slowly taking steps to improve transparency at the central bank. Last month he was the first Fed chairman to take questions from reporters at a National Press Club luncheon. In the recent past, senior Fed officials have shied away from on-the-record interviews. But some recent economic studies have shown that greater public understanding of monetary policy is helpful for central banks to achieve their goals. Some experts say the Fed faces a big communications problem now that their favorite policy tool, the Fed funds target rate, is at zero and new quantitative easing steps are being tried. Copyright © 2009 MarketWatch, Inc. Bank Group Casts Doubt On Part Of Obama Bank Plan March 13, 2009 at 12:49 pm WASHINGTON - The Institute of International Finance, a trade group for global banks, cast doubt Friday on a key plank of the Obama administration's plan to rescue the banking system. The IIF wants Treasury to ask Congress to set up a "bad bank" to buy toxic assets from bank balance sheets. They suggested the up-front costs would be about $100 billion. The new bank would then be able to raise debt, backed by the government, to leverage the total fund up to $1 trillion. Treasury Secretary Timothy Geithner has suggested a different approach. He wants to set up some form of public-private partnership fund to buy these assets, although the details of the plan haven't been released but are expected in the near future. Copyright © 2009 MarketWatch, Inc. Financials Start Fifth Straight Day Of Gains March 13, 2009 at 10:36 am NEW YORK -- U.S. financial stocks rose Friday morning, heading for their fifth straight day of gains as banks once again topped the winners list. Citigroup shares rose 11%, Bank of America shares added 4%, while Ohio-based regional giant Fifth Third added 8% and Utah's Zions , a big western regional banks, rose 4%. In the broader sector, the Financial Select Sector SPDR , which tracks the financial stocks in the S&P 500, rose 0.3% Copyright © 2009 MarketWatch, Inc. Late-year Economic Turnaround For Iceland Within Reach: IMF March 13, 2009 at 10:29 am NEW YORK -- Iceland's economic crisis has led to a sharp drop in economic activity, but a late-year turnaround remains within reach, the International Monetary Fund said Friday. The island nation's currency, the krona, has stabilized and inflation appears to have peaked, indicating that the IMF program put in place last November is working, said Mark Flanagan, head of the IMF mission to Iceland, after the conclusion of his trip to the country. "Financial sector restructuring needs to be moved forward," he said in a statement Friday. "The mission welcomes the authorities' continued commitment not to absorb any further private sector losses from the banking crisis; to provide for fair, equitable, and non-discriminatory treatment of depositors and creditors in line with applicable law; and to have an operating banking system in place as soon as possible." Iceland was plunged into crisis last October as its once-vibrant banking sector collapsed, sending its currency into a nosedive and unemployment soaring. In response, the IMF approved a $2.1 billion stand-by arrangement for Iceland in November. Copyright © 2009 MarketWatch, Inc. Schwab Took In $5.5 Bln In New Assets In Feb. March 13, 2009 at 10:00 am NEW YORK -- Charles Schwab Corp said Friday that it took in $5.5 billion in new assets from new and existing clients in February. Total client assets were $1.05 trillion as of month-end February, down 25% from February 2008 and down 5% from January 2009. Schwab also said Friday that it has completed the majority of planned staff reductions as part of its cost saving plan, and it expects, "that charges relating to our expense cuts will total approximately $100 million, with about half of that amount to be recognized in each of the first and second quarters of 2009." Copyright © 2009 MarketWatch, Inc. U.S. Trade Gap Declines To Six-year Low $36.0 Bln In Jan. March 13, 2009 at 9:30 am WASHINGTON -- The U.S. trade deficit narrowed by 9.7 % in January to $36.0 billion, the lowest monthly gap since October 2002, the Commerce Department said Friday. The trade deficit was below the consensus forecast of Wall Street economists of a deficit of $36.0 billion. This is the sixth consecutive decline in the trade balance, the first since the new data series was started in 1992. Both imports and exports declined in January. The petroleum deficit shrank to $14.7 billion in January, the lowest since September 2004. The U.S. trade deficit with China widened to $20.57 billion in compared with $20.31 billion in the same month last year. Copyright © 2009 MarketWatch, Inc.   This email was sent to businessnewsrightnow@gmail.com.  Create Your Account Don't want to receive this feed any longer? Unsubscribe here.