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Archive for August, 2012

CHICAGO Persistent technology glitches have caused a number of Morgan Stanley Smith Barney advisers to contemplate quitting their jobs, Reuters reported Friday, citing unnamed sources with knowledge of the situation. As many as 48 employees, who manage tens of billions of dollars, are considering leaving, and have drafted a letter to James Gorman, the firm’s chief executive, voicing their concerns, the news agency said. Technological problems have caused trading delays, bounced checks and other significant errors, the story explained. The group is hoping that if they do exit, they can keep a series of forgivable loans they were given during […]

Bernanke: QE Has And Can Work More

Federal Reserve Board Chairman Ben Bernanke called the stagnation in the U.S. labor market a grave concern and said he was open to using more quantitative easing as needed to help. In a speech at the Fed’s Jackson Hole retreat, Bernanke did not pre-commit to taking action. But he did reinforce the case for more asset purchases. He downplayed the costs of quantitative easing and said the program has worked to “provide meaningful support” to the recovery. Bernanke called current growth “tepid” and said the economy was “far from satisfactory.” “Taking due account of the uncertainties and limits of its […]

Managing Mutual Fund Fees

Dear Dr. Don, I just inherited $ 100,000 from my dad’s estate. I would like to invest it in mutual funds, but will I always have to pay an annual fee of 1.25% for a management fee? Where do I invest, or can I invest so I’m not paying this out every year? — Sandy Saving Dear Sandy, Inheritances often come at a steep price: the loss of a loved one. I’m sorry for your loss. Trying to reduce the drag that fees and expenses have on investment returns is a smart move, and there are ways to manage them […]

Dear Driving for Dollars, My car broke down, and the dealership is estimating $ 2,200 in car repairs. I need my car, but I can’t afford that. What can I do? — Maria Dear Maria, It’s hard to be faced with an unexpected car repair bill and even harder if you have to put it on a high-interest credit card that will take ages to pay off. No matter what your financial situation is, postponing car maintenance is a costly error that you just learned the hard way. Regardless, you need your car and you need it repaired, so your […]

Microsoft Corp (MSFT) and Nokia Oyj are loading up for their best — and possibly last — shot at denting a smartphone market dominated by Apple Inc’s iPhone (AAPL) and Google Inc’s (GOOG) Android mobile software. If the new Lumia phones do not appeal to consumers when they are unveiled next Wednesday, it could mean the end for Nokia, and a serious blow to Microsoft’s attempts to regain its footing in the mobile market, analysts and investors said. “This is very high stakes,” said Canaccord Genuity analyst Michael Walkley. “Nokia bet everything on Windows, and if this doesn’t succeed the […]

LONDON European stock markets trimmed gains in afternoon action on Friday, after U.S. Federal Reserve Chairman Ben Bernanke said he was open to using more quantitative easing as needed, but didn’t pre-commit to taking action. The speech was delivered at the Fed’s Jackson Hole, Wyo. retreat. The Stoxx Europe 600 index was up 0.2% at 265.38, after trading around 266.56 before the speech. The U.K.’s FTSE 100 index was marginally higher at 5,721.62, while Germany’s DAX 30 index gained 0.6% to 6,934.34. The French CAC 40 index added 0.5% to 3,396.31.

The Truth About Bartending School

Whether you’re simply looking to entertain friends at a cocktail party or you’re seeking a complete career change, bartending can be a unique and profitable option. Although it may sound like fun, experts say it’s not an easy job, and bartending schools across the country boast that the skills they teach are essential to success behind the bar. Because licensing and diploma requirements for bartenders vary from state to state, it’s impossible to say whether or not a certificate from an accredited bartending program is a prerequisite for employment. Some bars simply rely on good old-fashioned experience when making a […]

Smart car shoppers know the exact amount they can spend on buying a car, but once the negotiation is over, the deal can get sometimes more expensive. That’s when the dealer tells you what car loan interest rate you can get. A better approach is to get your own car financing, and get it in advance if possible. Now that credit is loosening up, so-called blank-check car loans are available from an increasing number of lenders. Similar to preapproval for a home loan, blank-check car loans give car shoppers an approval for a car loan up to a specific amount. […]

As the flight of executives from Zynga continues, the ailing Farmville maker is shrugging it off.  Following the departure of Chief Creative Officer Mike Verdu earlier this week, Zynga’s Vice President of Studios, Bill Mooney, and VP of Marketing, Brian Birtwistle, have also exited, according to multiple media reports.  Zynga, in a statement, shrugged off the losses.  “Zynga’s voluntary attrition rate was around 1% for the first four years, and our current attrition levels are not only below what we expected and modeled in our post-IPO planning, they continue to stay well below the industry average,” company spokesman Dani Dudeck […]

Factory Orders Up 2.8% In July

Factory orders rose 2.8% in July, the Commerce Department reported Friday. Economists polled by MarketWatch had expected a 2% rise. June’s decrease of 0.5% was not revised. In July, orders for non-durable goods rose 1.5% Durable goods were revised to a 4.1% gain from a 4.2% rise reported last week. Factory shipments rose 2% in July while inventories increased by 0.5%.

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