How to Buy a Business, Part 2
Posted on May 18th, 2010
In Part 1 of this series, we reviewed the process of buying a business from a sole proprietor or a partnership. Part 2, focuses on the initial steps of buying a business from a corporation.
You will recall that buying a business from a sole proprietor or a partnership involved making a decision about buying the entire business or buying just the assets of the business. That same decision exists when buying a business from a corporation.
A buyer can purchase the entire business, or purchase all or part of the assets from the corporation.
Wisconsin Governor single-handedly bans auto title loans
Posted on May 17th, 2010
The new payday loan legislation that was handed to Wisconsin Governor Jim Doyle to sign faced some last-minute scrutiny that resulted in a few changes, Bloomberg reports.
The legislation that was voted on by the state Assembly and Senate allowed lenders to provide auto title loans, but restricted the industry from issuing more than one per customer for no more than 50 percent of the car’s value. Doyle used his partial veto power to ban payday lenders from providing auto title loans altogether, according to Bloomberg. <
Newcastle Building Society to axe jobs and branches
Posted on May 17th, 2010
It has been announced today that Newcastle Building Society is to close four branches and axe 126 jobs.
The Newcastle, which is the UK’s eighth largest building society, said the affected branches are: West Road in Newcastle, Crook in County Durham, Yarm in Stockton-on-Tees and York, and the cuts will bring its branch total down to 31 from 35.
The reduction in headcount is due to a “challenging climate” in the finance sector, according to the society and the job losses will be back office and management roles.
SEC Proposes New Trading Rules
Posted on May 16th, 2010
In the wake of the so-called “flash crash” that sent the markets gyrating on May 6, the Securities and Exchange Commission (SEC) has proposed implementing temporary circuit breakers on all S&P 500 stocks that should help prevent similar occurrences in the future.
The system works like this: The circuit breakers will pause trading in those stocks for five minutes if the price moves by 10% or more in a five-minute period. The circuit breakers will apply both to rising and falling stock prices, report Edward Wyatt and Graham Bowley for The New York Times.
Before the rules are implemented, the SEC will have a 10-day comment period. Aft
FreeCreditReport.com Flip-Flops
Posted on May 16th, 2010
This is a guest post by Joshua Heckathorn, who runs Creditnet.com and holds an MBA and B.S. in Finance. Creditnet is a free resource for anyone who wants to learn more about credit or debt and compare hundreds of the best credit cards online. When Josh isn’t glued to the screen of his Mac, you’re bound to find him at the nearest rock-climbing wall or sushi joint around Seattle.
It’s been just over a month since new rules took effect requiring free credit report sites to prominently disclose that there’s only one place to truly get your credit report for free—AnnualCreditReport.com.
And as you might imagine, FreeCreditReport.com, the best-known site in the business, probably wasn’t too excited about the change. However, no