A bill that has passed by a 234-191 vote in the House would give bankruptcy judges an option as a last resort to cut mortgage debt of homeowners in bankruptcy to avoid foreclosure.
Takeaway #2
The bill has democratic support, but republicans and bankers are opposed to the bill. House republican leader John Boehner feels American taxpayers are sick of paying for irresponsible people. The senate is expected to consider their own version of the bill.
Takeaway #3
Currently bankruptcy courts can reduce debt on boats, vacation homes, cars or family farms, but not primary residence. Roughly 1 of 8 homeowners with a mortgage ended 2008 overdue or in the foreclosure process.
Takeaway #4
The bill offers protection to `mortgage service firms. The mortgage servicers are currently bound by legal agreements with mortgage backed securities investors who can force the servicers to foreclose, but this will give the servicers protection and the ability to revise bad loans.
Cramer says, "Get out of the stock market!". Enough said. Great reading if you are in or out of the market. Cramer reiterates his advice intimating that horrible world-wide depression is underway. Many toss barbed spears at him but he does not waiver.
Am-Ex wwill offer $300 to some customers to close a paid off account (may sacrifice points and rewards earned), but must be done by April 30th.
Takeaway #2
Am-Ex is trying to get debts paid back before other credit card companies. Other companies have been lowering limits, raising interest rates, and cutting back offers.
Takeaway #3
Uncollectible loans went from 7% in Dec, to 8.29% in Jan. Customers at least 30 days overdue went from 4.86% to 5.28%.
Takeaway #4
Am-Ex got $3.39 billion from the US Treasure to build capital, but profit dropped 72% to $238 million during the fourth quarter.
To deliver server-based slot machines to its newest casino, Aliante Station Casinos in Las Vegas NV built a IP network 10 times as dense as it built before.
Takeaway #2
The slot machine ends is a PC, so you can change the game, centrally.
Takeaway #3
Changes to older slot games, meant visits to each machine so it's quite labor intensive and centralized deployment of server-based games changes that, so you can do a change in the middle of the night. You need a bigger pipe.
Takeaway #4
The Station opened in November, with 500 network switches,400 just for the casino floor and 2,400 server-based slot machines running on gigabit Ethernet (GbE) to each game. Each bank of six games has a Cisco 3560, and each 3560 has a fiber connection to two Cisco 6500s."
Takeaway #5
The Cisco Call Manager supports 1,000 phones.
Takeaway #6
A distributed antenna system (DAS) boosts internal communications, and wireless LAN. The signals originate from four major wireless carriers .
Takeaway #7
The huge number of switches was more than the company dealt with before. Spectrum eHealth detects network anomalies every five minutes,"
Takeaway #8
Right before we came online, we were bringing up the 10 gigabit fiber ring when an outage fault isolation by Spectrum saved us.
Charles Platt took a job at Walmart to investigate why the company has been so controversial and unpopular throughout its recent history.
Takeaway #2
The employees at the Walmart all seemed to like their jobs, felt that they had some autonomy in the way they ran their sections of the store, and earned more than they would at Target or fast food restaurants.
Takeaway #3
Walmart's success is due in large part to Wal-Mart's ability to detect demand and respond to it by "distributing decision-making power to grass-roots level," giving low level employees the ability to order more products in high demand.
Takeaway #4
Platt makes the case that because value is determined by demand for certain skills, employees at Wal-Mart are getting paid about what they should, and that the real scandal isn't Wal-Mart's practices but the fact that despite a free public education system there are so many unskilled workers in the U.S.
Takeaway #5
Wal-Mart pays a U.S. average of $10.86 power compared to the $8.67 average for retail employees and the $6.55 federal minimum wage.
Takeaway #6
Most of the anti-Wal-Mart campaigning has been done directly by or with support from unions such as the United Food and Commercial Workers Int'l Union.
Takeaway #7
Wal-Mart and other big box retailers have provided much more convenience than "mom-and-pop" stores in the past, who were often under-supplied and whose employees were at the mercy of the sole-proprietor with no superiors to appeal to.
The oil Drum addresses "all the usual suspects' in energy plus lots more in a down to earth factual and scientifically supported manner. The Oil Drum posts comparisons between different energy sources regarding energy to get more energy, status issues, legacy energy sources depletion and nuclear energy.
Takeaway #2
Thorium receives much attention as thorium is plentiful and less expensive by far to use in nuclear reactors to produce electricity.
Takeaway #3
President Obama received letters from ORNL.gov folks persuading rapid pursuit of thorium based reactors. This and much more in a regular website that tracks anything about energy daily.
American workers’ retirement savings are being severely eroded by the economic crisis. Fidelity Investments, which covers 401(k) plans for more than 11 million workers at 17,000 companies, yesterday revealed that the average individual balance declined from $69,200 in 2007 to $50,200 last year.
Takeaway #2
The 27 percent decline would have been much larger if not for the fact that most workers continued to invest additional money in the accounts, despite the protracted decline on Wall Street. US stock mutual funds fell by an average of 36 percent last year while the average foreign stock fund lost 44 percent.
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