The government of Queensland is calling for Suncorp to support local jobs as speculation mounts that the banking and insurance company is looking to send as many as 2000 jobs overseas.
Andrew Fraser, the Australian Treasurer has personally taken up the matter, sending a letter to Patrick Snowball, Suncorp chief executive at the end of 2011.
“Suncorp is a great Queensland company with a well-regarded local reputation for supporting Queensland jobs. I’ve made the Government’s view clear in writing and in person. We believe Suncorp should support Queensland jobs given the support Queensland has given them as a company.” Mr. Fraser
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U.S. stocks were poised for a lower start Thursday, as investors continued to focus on Greece, where political parties are negotiating austerity measures and reforms that are needed to secure more bailout funds and a default.
The Dow Jones industrial average, S&P 500 and Nasdaq futures were down about 0.2% ahead of the opening bell. Stock futures indicate the possible direction of the markets when they open at 9:30 a.m. ET.
Investors will likely spend Thursday with their eyes still trained on Athens, in the hope that Greek officials can finalize proposed spending cuts that are a precondition for additional bailout funds. Full Article…
Much to my surprise, I recently became aware of the following North Carolina law:
§ 14‑326.1. Parents; failure to support.
If any person being of full age, and having sufficient income after reasonably providing for his or her own immediate family shall, without reasonable cause, neglect to maintain and support his or her parent or parents, if such parent or parents be sick or not able to work and have not sufficient means or ability to maintain or support themselves, such person shall be deemed guilty of a Class 2 misdemeanor; upon conviction of a second or subsequent offense such person shall be guilty of a Class 1 misdemeanor. If there be more than one person bound under the provisions of the next preceding paragraph to support the same parent or parents, they shall share equitably in the discharge of such duty.
On its face, this law makes it a crime not to support one’s parents if they are unable to support themselves. What about all those elderly persons receiving assistance from the state because they can’t pay for nursing home costs themselves? It might make one think twice about assisting your parents in divesting themselves of assets in order to qualify for Medicaid. Also, it could make considering long-term care insurance that much more important – who wants their kids to get arrested, even if just for a misdemeanor?
However, on the North Carolina Bar Association’s Elder Law Section list serve, there was a recent discussion of the statute and the fact that no one is aware of anyone being prosecuted for violation of the the law.
That’s not surprising – even as a estate planning attorney (as opposed to a criminal attorney), I see many problems with the law. It is so vague that I do not see how it could ever stand up to challenge before a judge. How does one determine what “sufficient income” is or “reasonable providing.” What about saving for one’s own retirement to avoid the same problem with the next generation? What about c
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One of the biggest debates among financial professionals is whether you should pay off your mortgage early. There are pros and cons and the answer will depend on your risk tolerance and alternative investing options.
Arguments for Early Payoff
The biggest argument for paying off your mortgage early is that doing so allows you to actually own the place where you live. There is a great freedom associated with owning your home yourself and not owing the bank. It can protect you if you hit a financial rough patch, since you wont have to worry about losing your home.
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Gold entered 2012 on a high note as investors pushed prices up 2% at the outset, but the numbers tumbled soon after and now hover around $1,600 an ounce. The Eurozone debt crisis and members’ moves to fund a recovery are impacting gold value and it has recently been tracking with stocks and the euro while moving against the U.S. dollar. Analysts expect recent European moves and early-year interest in diversifying in gold to create room for growth in prices in the near term, and may get a boost as a good safe haven bet when anticipated pressure between the U.S. and Iran increase. For more on this continue reading the following article from TheStreet. < Full Article…
A prominent Cincinnati criminal defense lawyer was recently lecturing at a local university. As he finished his prepared speech, he opened up the discussion to questions from the group and he was surprised at the level of response he received. One of the students who seemed really interested in becoming an attorney himself was particularly curious about helping low income clients and he had many questions that pertained to how to go about preparing for that. The attorney pointed out that one way of helping people is to teach them how to help themselves particularly when they are drowning in unpaid bills. He referenced a Cincinnati debt relief service that he had recently worked with who was doing great work among the citizens who needed help with paying their credit bills.
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A majority of European leaders agreed early Friday on a new deal to try to resolve the continent’s debt crisis, but Britain refused to back a broader treaty change.
The 17 members of the eurozone, which share the embattled single currency, reached a deal for a new intergovernmental treaty to deepen the integration of national budgets. Six other EU nations supported the deal.
“We’re doing everything we can to save the euro,” President Nicolas Sarkozy of France said at a news conference in Brussels following a marathon summit meeting of EU leaders. Full Article…
In the past, each year the Social Security Administration (SSA) mailed a statement to all workers age 25 and older who were not receiving Social Security or Medicare benefits. The statement listed a worker’s earnings record along with estimated benefit amounts at various retirement ages.
For budgetary reasons, the SSA will no longer send out these annual statements. It is not known when, or if, the automatic mailings will resume.
The SSA also will no longer accept Form SSA-7004, “Request for Social Security Statement.”
Since Social Security benefits are based on one’s lifetime earnings history, it is important to determine that all earnings are correctly listed on (SSA) records.
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There are many common mistakes that people make when managing their money and nearly everyone is affected by one or more of these mistakes on a regular basis. It is important to keep these mistakes to a minimum if you are interested in building wealth and securing your financial future. Here are some of the most common mistakes that people make with their money and the best ways to avoid them.
Buying Impulse Items On Credit
If you use your credit card to make an impulse purchase and do not pay off the balance of that credit card before the grace period is up, you will be paying interest on that purchase for months, or possibly years, after the purchase has been made. Spending your hard-earned money on items that you do not need is bad enough, but paying hundreds of dollars in interest for the purchase over time is much worse. It is important to only charge the amount that you can afford to pay off each month to limit interest charges and to limit purchases to the items that you truly need.
Taking On Too Much Debt
Taking on too much debt can quickly land you in financial trouble. Every year, millions of individuals find themselves struggling to pay their expenses, their loans, and their credit card bills because they have taken on too much debt. The warning signs that you may have taken on too much debt are deliberately paying bills late, borrowing money to pay existing loans, and putting off medical appointments and other necessary expenses because you are short of money. If any of these warning signs are present, you need to make paying down your debt as quickly as possible a priority so that you can get out of debt safely with your credit score intact.
Paying Your Bills Late
Paying your bills late can cause your creditors to report the late payments to the credit reporting bureaus for inclusion on your credit report, which will decrease your credit score. Your credit score can affect many different areas of your life, including whether you are approved for a home loan or an apartment, whether you qualify for a particular employment position, the interest rate you are charged for loans, and the amount that you pay for insurance. It is important to keep your credit record as clear of negative information as possible and the best way to do this is to pay all of your bills on time.
Gold for December delivery closed up $3.80 to $1,782.20 an ounce in mid-November, struggling to make gains as investors decide whether to hold on to the commodity or sell it off for cash. Experts argue gold is still a safe haven, and will continue to make future gains as the strength of the dollar is drawn into question. Eurozone instability is also expected to fortify positions in gold despite big moves to dump the metal by prominent traders. Investors should expect some waffling in the near term, but veteran gold bulls are betting on overall price increases. For more on this continue reading the following article from TheStreet. Full Article…