2012-05-26T19:14:58Z http://blog.edwardpalonek.info/atom.aspx Quick Blogcast tag:blog.edwardpalonek.info,2009-09-04:a0f2ac3a-5596-4723-8bd7-adf369804594 Edward Palonek 2009-09-04T14:24:00Z 2009-09-04T14:24:00Z <h2 style="margin: 0pt 0pt 3px;">Help for homeowners</h2> <div class="dateln" style="margin: 0pt 0pt 20px;">Posted by <font color="#333333">Macon Phillips</font></div> The President’s strategy for economic recovery is a stool with several legs, as he’s said, and one of them is solving the foreclosure crisis.<br> <br> "We must stem the spread of foreclosures and falling home values for all Americans, and do everything we can to help responsible homeowners stay in their homes," he said yesterday as he signed the American Recovery and Reinvestment Act into law. <br> <br> Though communities across the country have been affected by the crisis, Arizona has been hit particularly hard -- in 2008, only two states had more foreclosures. <br> <br> And President Obama is there today, in Phoenix, to unveil his "Homeowner Affordability and Stability Plan," which will help bring relief to homeowners and bring some order to the housing market.<br> <br> The President will talk more about his plan a little later today. In the meantime, we’re sure you have a lot of questions, like, Am I eligible for assistance? Might I be able to modify my loan? When do I apply? We've put together an example sheet that will show you <a id="tb_external1" class="thickbox external" href="http://www.whitehouse.gov/blog/09/02/18/Help-for-homeowners/#TB_inline?height=220&amp;width=370&amp;inlineId=tb_external&amp;linkId=1">what options might be available to you, depending on the circumstances of your mortgage</a>, as well as answers to some common questions (below).<br> <br> <p align="center"><strong>Questions and Answers for Borrowers about the</strong><br> <strong>Homeowner Affordability and Stability Plan</strong></p> <p><strong><span style="text-decoration: underline;">Borrowers Who Are Current on Their Mortgage Are Asking:</span></strong></p> <ul><li><strong>What help is available for borrowers who stay current on their mortgage payments but have seen their homes decrease in value?</strong></li></ul> <p>Under the Homeowner Affordability and Stability Plan, eligible borrowers who stay current on their mortgages but have been unable to refinance to lower their interest rates because their homes have decreased in value, may now have the opportunity to refinance into a 30 or 15 year, fixed rate loan.&nbsp;&nbsp; Through the program, Fannie Mae and Freddie Mac will allow the refinancing of mortgage loans that they hold in their portfolios or that they placed in mortgage backed securities.</p> <ul><li><strong>I owe more than my property is worth, do I still qualify to refinance under the </strong><strong>Homeowner Affordability and Stability Plan?</strong></li></ul> <p>Eligible loans will now include those where the new first mortgage (including any refinancing costs) will not exceed 105% of the current market value of the property.&nbsp;&nbsp; For example, if your property is worth $200,000 but you owe $210,000 or less you may qualify.&nbsp; The current value of your property will be determined after you apply to refinance.</p> <ul><li><strong>How do I know if I am eligible?</strong></li></ul> <p>Complete eligibility details will be announced on March 4th when the program starts.&nbsp; The criteria for eligibility will include having sufficient income to make the new payment and an acceptable mortgage payment history.&nbsp; The program is limited to loans held or securitized by Fannie Mae or Freddie Mac.</p> <ul><li><strong>I have both a first and a second mortgage.&nbsp; Do I still qualify to refinance under the </strong><strong>Homeowner Affordability and Stability Plan?</strong></li></ul> <p>As long as the amount due on the first mortgage is less than 105% of the value of the property, borrowers with more than one mortgage may be eligible to refinance under the Homeowner Affordability and Stability Plan.&nbsp; Your eligibility will depend, in part, on agreement by the lender that has your second mortgage to remain in a second position, and on your ability to meet the new payment terms on the first mortgage.&nbsp;</p> <ul><li><strong>Will refinancing lower my payments?</strong></li></ul> <p>The objective of the Homeowner Affordability and Stability Plan is to provide creditworthy borrowers who have shown a commitment to paying their mortgage with affordable payments that are sustainable for the life of the loan. &nbsp;Borrowers whose mortgage interest rates are much higher than the current market rate should see an immediate reduction in their payments. &nbsp;Borrowers who are paying interest only, or who have a low introductory rate that will increase in the future, may not see their current payment go down if they refinance to a fixed rate.&nbsp; These borrowers, however, could save a great deal over the life of the loan.&nbsp; When you submit a loan application, your lender will give you a "Good Faith Estimate" that includes your new interest rate, mortgage payment and the amount that you will pay over the life of the loan.&nbsp; Compare this to your current loan terms.&nbsp; If it is not an improvement, a refinancing may not be right for you.</p> <ul><li><strong>What are the interest rate and other terms of this refinance offer?</strong></li></ul> <p>The objective of the Homeowner Affordability and Stability Plan is to provide borrowers with a safe loan program with a fixed, affordable payment.&nbsp; All loans refinanced under the plan will have a 30 or 15 year term with a fixed interest rate.&nbsp; The rate will be based on market rates in effect at the time of the refinance and any associated points and fees quoted by the lender.&nbsp; Interest rates may vary across lenders and over time as market rates adjust.&nbsp; The refinanced loans will have no prepayment penalties or balloon notes.&nbsp;&nbsp;</p> <ul><li><strong>Will refinancing reduce the amount that I owe on my loan?</strong></li></ul> <p>No.&nbsp; The objective of the Homeowner Affordability and Stability Plan is to help borrowers refinance into safer, more affordable fixed rate loans.&nbsp; Refinancing will not reduce the amount you owe to the first mortgage holder or any other debt you owe.&nbsp; However, by reducing the interest rate, refinancing should save you money by reducing the amount of interest that you repay over the life of the loan.</p> <ul><li><strong>How do I know if my loan is owned or has been securitized by Fannie Mae or Freddie Mac?</strong></li></ul> <p>To determine if your loan is owned or has been securitized by Fannie Mae or Freddie Mac and is eligible to be refinanced, you should contact your mortgage lender after March 4, 2009.</p> <ul><li><strong>When can I apply?</strong></li></ul> <p>Mortgage lenders will begin accepting applications after the details of the program are announced on March 4, 2009.&nbsp;&nbsp;&nbsp;</p> <ul><li><strong>What should I do in the meantime?</strong></li></ul> <p>You should gather the information that you will need to provide to your lender after March 4, when the refinance program becomes available.&nbsp; This includes:</p> <ul><ul><li>information about the gross monthly income of all borrowers,&nbsp; including your most recent pay stubs if you receive them or documentation of income you receive from other sources</li><li>your most recent income tax return</li><li>information about any second mortgage on the house</li><li>payments on each of your credit cards if you are carrying balances from month to month, and</li><li>payments on other loans such as student loans and car loans.</li></ul></ul> <p><strong><span style="text-decoration: underline;">Borrowers Who Are at Risk of Foreclosure Are Asking:</span></strong></p> <ul><li><strong>What help is available for borrowers who are at risk of foreclosure either because they are behind on their mortgage or are struggling to make the payments?</strong></li></ul> <p>The Homeowner Affordability and Stability Plan offers help to borrowers who are already behind on their mortgage payments or who are struggling to keep their loans current.&nbsp; By providing mortgage lenders with financial incentives to modify existing first mortgages, the Treasury hopes to help as many as 3 to 4 million homeowners avoid foreclosure regardless of who owns or services the mortgage.</p> <ul><li><strong>Do I need to be behind on my mortgage payments to be eligible for a modification?&nbsp; </strong></li></ul> <p>No.&nbsp; Borrowers who are struggling to stay current on their mortgage payments may be eligible if their income is not sufficient to continue to make their mortgage payments and they are at risk of imminent default.&nbsp; This may be due to several factors, such as a loss of income, a significant increase in expenses, or an interest rate that will reset to an unaffordable level.&nbsp;&nbsp;&nbsp;</p> <ul><li><strong>How do I know if I qualify for a payment reduction under the Homeowner Affordability and Stability Plan?</strong></li></ul> <p>In general, you may qualify for a mortgage modification if (a) you occupy your house as your primary residence; (b) your monthly mortgage payment is greater than 31% of your monthly gross income; and (c) your loan is not large enough to exceed current Fannie Mae and Freddie Mac loan limits. &nbsp;Final eligibility will be determined by your mortgage lender based on your financial situation and detailed guidelines that will be available on March 4, 2009.</p> <ul><li><strong>&nbsp;I do not live in the house that secures the mortgage I’d like to modify.&nbsp; Is this mortgage eligible for the Homeowner Affordability and Stability Plan?</strong></li></ul> <p>No.&nbsp; For example, if you own a house that you use as a vacation home or that you rent out to tenants, the mortgage on that house is not eligible.&nbsp; If you used to live in the home but you moved out, the mortgage is not eligible.&nbsp; Only the mortgage on your primary residence is eligible.&nbsp; The mortgage lender will check to see if the dwelling is your primary residence.</p> <ul><li><strong>I have a mortgage on a duplex.&nbsp; I live in one unit and rent the other.&nbsp; Will I still be eligible?</strong></li></ul> <p>Yes.&nbsp; Mortgages on 2, 3 and 4 unit properties are eligible as long as you live in one unit as your primary residence.</p> <ul><li><strong>I have two mortgages.&nbsp; &nbsp;Will the Homeowner Affordability and Stability Plan reduce the payments on both? </strong></li></ul> <p>Only the first mortgage is eligible for a modification.</p> <ul><li><strong>I owe more than my house is worth.&nbsp; Will the Homeowner Affordability and Stability Plan reduce what I owe?</strong></li></ul> <p>The primary objective of the Homeowner Affordability and Stability Plan is to help borrowers avoid foreclosure by modifying troubled loans to achieve a payment the borrower can afford.&nbsp; Lenders are likely to lower payments mainly by reducing loan interest rates.&nbsp; However, the program offers incentives for principal reductions and at your lender’s discretion modifications may include upfront reductions of loan principal.</p> <ul><li><strong>I heard the government was providing a financial incentive to borrowers.&nbsp; Is that true?</strong></li></ul> <p>Yes.&nbsp; To encourage borrowers who work hard to retain homeownership, the Homeowner Affordability and Stability Plan provides incentive payments as a borrower makes timely payments on the modified loan.&nbsp;&nbsp; The incentive will accrue on a monthly basis and will be applied directly to reduce your mortgage debt.&nbsp; Borrowers who pay on time for five years can have up to $5,000 applied to reduce their debt by the end of that period.</p> <ul><li><strong>How much will a modification cost me?</strong></li></ul> <p>There is no cost to borrowers for a modification under the Homeowner Affordability and Stability Plan.&nbsp; If you wish to get assistance from a HUD-approved housing counseling agency or are referred to a counselor as a condition of the modification, you will not be charged a fee.&nbsp; Borrowers should beware of any organization that attempts to charge a fee for housing counseling or modification of a delinquent loan, especially if they require a fee in advance.&nbsp;</p> <ul><li><strong>Is my lender required to modify my loan?</strong></li></ul> <p>No.&nbsp; Mortgage lenders participate in the program on a voluntary basis and loans are evaluated for modification on a case-by-case basis.&nbsp; But the government is offering substantial incentives and it is expected that most major lenders will participate.</p> <ul><li><strong>I'm already working with my lender / housing counselor on a loan workout.&nbsp; Can I still be considered for the Homeowner </strong><strong>Affordability and</strong> <strong>Stability Plan?</strong></li></ul> <p>Ask your lender or counselor to be considered under the Homeowner Affordability and Stability Plan.</p> <ul><li><strong>How do I apply for a modification under the Homeowner </strong><strong>Affordability and</strong> <strong>Stability Plan?</strong></li></ul> <p>You may not need to do anything at this time. &nbsp;Most mortgage lenders will evaluate loans in their portfolio to identify borrowers who may meet the eligibility criteria.&nbsp; After March 4 they will send letters to potentially eligible homeowners, a process that may take several weeks. &nbsp; If you think you qualify for a modification and do not receive a letter within several weeks, contact your mortgage servicer or a HUD-approved housing counselor.&nbsp; Please be aware that servicers and counseling agencies are expected to receive an extraordinary number of calls about this program.</p> <ul><li><strong>What should I do in the meantime?</strong></li></ul> <p>You should gather the information that you will need to provide to your lender on or after March 4, when the modification program becomes available.&nbsp; This includes</p> <ul><ul><li>information about the monthly gross income of your household including recent pay stubs if you receive them or documentation of income you receive from other sources</li><li>your most recent income tax return</li><li>information about any second mortgage on the house</li><li>payments on each of your credit cards if you are carrying balances from month to month, and</li><li>payments on other loans such as student loans and car loans.</li></ul><br><li><strong>My loan is scheduled for foreclosure soon.&nbsp; What should I do?</strong></li></ul> <p>Contact your mortgage servicer or credit counselor.&nbsp; Many mortgage lenders have expressed their intention to postpone foreclosure sales on all mortgages that may qualify for the modification in order to allow sufficient time to evaluate the borrower's eligibility.&nbsp; We support this effort.</p> tag:blog.edwardpalonek.info,2009-09-02:c56011b0-c6ab-42fe-b50b-c367d847814a Edward Palonek 2009-09-02T16:04:00Z 2009-09-02T16:04:00Z <h2 style="margin: 0pt 0pt 3px;">Protecting Homeowners, Protecting the Economy</h2> <div class="dateln" style="margin: 0pt 0pt 20px;">Posted by <font color="#333333">Jesse Lee</font></div> <!-- Embed video for Flash version >= 8 --> <div style="margin: 0in 0in 10pt;">The President has just signed the Helping Families Save Their Homes Act and the Fraud Enforcement and Recovery Act into law, landmark pieces of legislation addressing the problems that helped set off the economic crisis we are fighting through now.</div> <div style="margin: 0in 0in 10pt;">The Fraud Enforcement and Recovery Act gives the federal government more tools to crack down on the kind of fraud that put thousands of hardworking families at risk of losing their homes despite doing everything right to live within their means.&nbsp;It expands the Department of Justice’s ability to prosecute at virtually every step of the process from predatory lending on Main Street to the manipulation on Wall Street.&nbsp;It also creates a bipartisan Financial Crisis Inquiry Commission to investigate the financial practices that brought us to this point, so that we make sure it never happens again.</div> <div style="margin: 0in 0in 10pt;">Before signing it, <a href="http://www.whitehouse.gov/the_press_office/Remarks-by-the-President-at-Signing-of-the-Helping-Families-Save-Their-Homes-Act-and-the-Fraud-Enforcement-and-Recovery-Act/">the President said</a>:</div> <div style="margin: 0in 0in 10pt 0.5in;">Last year, the Treasury Department received 62,000 reports of mortgage fraud -- more than 5,000 each month.&nbsp; The number of criminal mortgage fraud investigations opened by the FBI has more than doubled over the past three years.&nbsp; And yet, the federal government's ability to investigate and prosecute these frauds is severely hindered by outdated laws and a lack of resources.</div> <div style="margin: 0in 0in 10pt 0.5in;">And that's why this bill nearly doubles the FBI's mortgage and financial fraud program, allowing it to better target fraud in hard-hit areas.&nbsp; That's why it provides the resources necessary for other law enforcement and federal agencies, from the Department of Justice to the SEC to the Secret Service, to pursue these criminals, bring them to justice, and protect hardworking Americans affected most by these crimes.&nbsp; It's also why it expands DOJ's authority to prosecute fraud that takes place in many of the private institutions not covered under current federal bank fraud criminal statutes -- institutions where more than half of all subprime mortgages came from as recently as four years ago.</div> <div style="margin: 0in 0in 10pt;">The Helping Families Save Their Homes Act expands on the success of the Making Home Affordable Program &nbsp;first announced in February. &nbsp;By reducing foreclosures around the country, the average homeowner could see their house price bolstered by as much as $6,000 as a result of this plan, and as many as 9 million homeowners could get help making their mortgages affordable and avoid preventable foreclosures.&nbsp;This bill makes this help easier to access and take advantage of, helps get credit flowing again, establishes protections for renters living in foreclosed homes, and establishes the right of a homeowner to know who owns their mortgage. It also provides $2.2 billion to address homelessness, helping families be part of the recovery one by one.</div> <div style="margin: 0in 0in 10pt;">Before signing it, the President said:</div> <div style="margin: 0in 0in 10pt 0.5in;">Let me talk a little bit about the housing bill.&nbsp; The Helping Families Save Their Homes Act advances the goals of our existing housing plan by providing assistance to responsible homeowners and preventing avoidable foreclosures.&nbsp; Last summer, Congress passed the HOPE for Homeowners Act to help families who found themselves "underwater" as a result of declining home values -- families who owed more on their mortgages than their homes are worth.&nbsp; But too many administrative and technical hurdles made it very difficult to navigate, and most borrowers didn't even bother to try.</div> <div style="margin: 0in 0in 10pt 0.5in;">This bill removes those hurdles, getting folks into sustainable and affordable mortgages, and more importantly, keeping them in their homes.&nbsp; And it expands the reach of our existing housing plan for homeowners with FHA or USDA rural housing loans, providing them with new opportunities to modify or refinance their mortgages to more affordable levels.</div> <div style="margin: 0in 0in 10pt;">Any plan is only as effective as the number of people who take advantage of it.&nbsp;This bill recognized that, but if you think you might benefit from refinancing as millions of other Americans could, go to <a id="tb_external1" class="thickbox external" href="http://www.whitehouse.gov/blog/Protecting-Homeowners-Protecting-the-Economy/#TB_inline?height=220&amp;width=370&amp;inlineId=tb_external&amp;linkId=1">MakingHomeAffordable.gov</a> to find out if you or your family is eligible.&nbsp; Learn more about these bills through the <a href="http://www.whitehouse.gov/the_press_office/Reforms-for-American-Homeowners-and-Consumers-President-Obama-Signs-the-Helping-Families-Save-their-Homes-Act-and-the-Fraud-Enforcement-and-Recovery-Act/">White House fact sheet</a> out today.</div> tag:blog.edwardpalonek.info,2009-05-12:035c67ae-7628-4d8f-9f16-3c1945128134 Edward Palonek 2009-05-12T14:05:00Z 2009-05-12T14:05:00Z <h2 style="margin: 0pt 0pt 10px;"><a href="http://www.whitehouse.gov/blog/09/04/22/Change-sorting/">Change-sorting</a></h2> <p><span style="color: rgb(153, 153, 153);">Posted by</span> <span style="color: rgb(51, 102, 153);">David O. Washington, Ph.D, Associate Director, White House Office of Public Engagement</span><br> <br> One part of our job in the Office of Public Engagement is to help the public, and the groups that represent their interests navigate and engage with the right areas of their government. We help them navigate the Administration and its branches in order to help find the folks here who can shine light on their questions, comments and suggestions.</p> <p>Surprising to me, when I shared that's what I do with the Americans I’ve interacted with since I started in my new role here at the Office of Public Engagement, they seemed surprised. It’s almost as though they don’t realize that in addition to serving at the pleasure of the President, we also serve at the pleasure of the American people –or more accurately we *work for* the American people.</p> <p>A good friend from junior high was trying to describe this function of our department to another friend and he said "…it’s kinda like those old school change-sorters from the 80’s. The ones you could dump in all your pennies, nickels, dimes, and quarters and the machine would sort them out into the right cylinder. It sounds like your office does that… but with requests and phone-calls and letters and more importantly the big issues facing everyday Americans… they ask you for help and you get ‘em to the right person." In some ways it’s perfectly right…</p> <p>I guess that’s why I love it here so much. I’ve always loved being a dot connecter and here that’s part of my job as the public/private partnerships lead for our office: to help Americans from across the country not only connect the dots to their government, but also… and here is the best part… in the process, we help to shape the way our government works and do our best to make the lives of Americans, that much better.</p> <p>Every day is a new adventure, a lesson learned, and a blessing to serve the President.</p> tag:blog.edwardpalonek.info,2009-04-17:5bfe840f-dcd0-4cea-abe8-29b691a959ab Edward Palonek 2009-04-17T14:39:00Z 2009-04-17T14:39:00Z <h2 class="modttlred">STATE &amp; LOCAL GOVERNMENT</h2> <p>Most Americans have more daily contact with their state and local governments than with the federal government. Police departments, libraries, and schools — not to mention driver's licenses and parking tickets — usually fall under the oversight of state and local governments. Each state has its own written constitution, and these documents are often far more elaborate than their federal counterpart. The Alabama Constitution, for example, contains 310,296 words — more than 40 times as many as the U.S. Constitution. </p> <h3>State Government</h3> <p>Under the Tenth Amendment to the U.S. Constitution, all powers not granted to the federal government are reserved for the states and the people. All state governments are modeled after the federal government and consist of three branches: executive, legislative, and judicial. The U.S. Constitution mandates that all states uphold a "republican form" of government, although the three-branch structure is not required. </p> <p><b>Executive Branch</b><br> In every state, the executive branch is headed by a governor who is directly elected by the people. In most states, the other leaders in the executive branch are also directly elected, including the lieutenant governor, the attorney general, the secretary of state, and auditors and commissioners. States reserve the right to organize in any way, so they often vary greatly with regard to executive structure. No two state executive organizations are identical. </p> <p><b>Legislative Branch</b><br> All 50 states have legislatures made up of elected representatives, who consider matters brought forth by the governor or introduced by its members to create legislation that becomes law. The legislature also approves a state's budget and initiates tax legislation and articles of impeachment. The latter is part of a system of checks and balances among the three branches of government that mirrors the federal system and prevents any branch from abusing its power. </p> <p>Except for one state, Nebraska, all states have a bicameral legislature made up of two chambers: a smaller upper house and a larger lower house. Together the two chambers make state laws and fulfill other governing responsibilities. (Nebraska is the lone state that has just one chamber in its legislature.) The smaller upper chamber is always called the Senate, and its members generally serve longer terms, usually four years. The larger lower chamber is most often called the House of Representatives, but some states call it the Assembly or the House of Delegates. Its members usually serve shorter terms, often two years. </p> <p><b>Judicial Branch</b><br> State judicial branches are usually led by the state supreme court, which hears appeals from lower-level state courts. Court structures and judicial appointments/elections are determined either by legislation or the state constitution. The Supreme Court focuses on correcting errors made in lower courts and therefore holds no trials. Rulings made in state supreme courts are normally binding; however, when questions are raised regarding consistency with the U.S. Constitution, matters may be appealed directly to the United States Supreme Court. </p> <h3>Local Government </h3> <p>Local governments generally include two tiers: counties, also known as boroughs in Alaska and parishes in Louisiana, and municipalities, or cities/towns. In some states, counties are divided into townships. Municipalities can be structured in many ways, as defined by state constitutions, and are called, variously, townships, villages, boroughs, cities, or towns. Various kinds of districts also provide functions in local government outside county or municipal boundaries, such as school districts or fire protection districts. </p> <p>Municipal governments — those defined as cities, towns, boroughs (except in Alaska), villages, and townships — are generally organized around a population center and in most cases correspond to the geographical designations used by the United States Census Bureau for reporting of housing and population statistics. Municipalities vary greatly in size, from the millions of residents of New York City and Los Angeles to the 287 people who live in Jenkins, Minnesota.</p> <p>Municipalities generally take responsibility for parks and recreation services, police and fire departments, housing services, emergency medical services, municipal courts, transportation services (including public transportation), and public works (streets, sewers, snow removal, signage, and so forth). </p> <p>Whereas the federal government and state governments share power in countless ways, a local government must be granted power by the state. In general, mayors, city councils, and other governing bodies are directly elected by the people.</p> tag:blog.edwardpalonek.info,2008-11-14:9507df84-62f9-4aa7-9e89-e376cdcd2884 Edward Palonek 2008-11-14T19:00:00Z 2008-11-14T19:00:00Z <H1><IMG alt="Sean McCormack at podium in Department briefing room" hspace=4 src="http://www.state.gov/cms_images/mccormack_90.jpg" align=right vspace=3>The Bureau of Public Affairs carries out the Secretary's mandate to help Americans understand the importance of foreign affairs. The Bureau is led by&nbsp;Assistant Secretary <A href="http://www.state.gov/r/pa/ei/biog/47116.htm">Sean McCormack,</A> who also serves as Department spokesman.&nbsp;<A href="http://www.state.gov/r/pa/ei/biog/108933.htm">Robert Wood</A>&nbsp;serves as Deputy Spokesman.&nbsp;<BR><BR>The PA Bureau vigorously pursues the&nbsp;State Department's mission to inform the American people and to feed their concerns and comments back to the policymakers. It accomplishes this in a variety of ways, which include: </H1> <UL> <LI>Strategic and tactical planning to advance the Administration's priority foreign policy goals; <LI>Conducting press briefings for domestic and foreign press corps; <LI>Pursuing media outreach, enabling Americans everywhere to hear directly from key Department officials through local, regional and national media interviews; <LI>Managing the State Department's web site at state.gov and developing web pages with up-to-date information about U.S. foreign policy; <LI>Answering questions from the public about current foreign policy issues by phone, email, or letter; <LI>Arranging town meetings and scheduling speakers to visit communities to discuss U.S. foreign policy and why it is important to all Americans; <LI>Producing and coordinating audio-visual products and services in the U.S. and abroad for the public, the press, the Secretary of State, and Department bureaus and offices; <LI>Preparing historical studies on U.S. diplomacy and foreign affairs matters. </LI></UL><!--Contact Information <UL><LI>Mailing Address:<BR> Bureau of Public Affairs, Rm. 6808<BR> U.S. Department of State<BR> Washington, DC 20520-6810<BR> <LI>Public Affairs Email:<BR> publicaffairs@panet.us-state.gov <BR> <LI>Public Affairs Tel: <BR> 202-647-6575 (between 9:00 a.m. and 4:45 p.m. EST) <LI>Fax-on-Demand:<BR> 202-736-7720--> tag:blog.edwardpalonek.info,2008-10-21:2d99c60e-5fb8-412f-8728-41f2902f27e0 Edward Palonek 2008-10-21T14:43:00Z 2008-10-21T14:43:00Z <P><I>Washington, D.C., Sept. 21, 2008</I> — The U.S. Securities and Exchange Commission today approved amendments to its emergency order of September 18 (Release No. 58591) requiring that certain institutional money managers report their new short sales of certain publicly traded securities.</P> <DIV class=pressaddmatsbox> <HR> </DIV> <P>In addition to making technical amendments, the revised order also provides that the information disclosed by investment managers on new Form SH will be nonpublic initially, but will be made available to the public via the Commission’s EDGAR website two weeks after it is electronically filed with the Commission.</P> <P>The amended order will take effect at 12:01 a.m. EDT on Monday, Sept. 22, 2008.</P> <P>Under the order, covered institutional money managers will be required to report any new short selling in all equity securities, except options, that are admitted for trading on a national securities exchange or quoted on the automated quotation system of a registered securities association. If any new short sales are effected on September 22 through September 27, the managers are required to submit a report on new Form SH to the Commission on Sept. 29, 2008. These managers are already required to report their long positions in these securities on Form 13F.</P> <P>The Commission may extend the emergency order beyond its current effective period of 10 business days if it deems an extension necessary in the public interest and for the protection of investors, but will not extend the order for more than 30 calendar days in total duration.</P><!-- End text --> <P>&nbsp; <P><I>http://www.sec.gov/news/press/2008/2008-217.htm</I><BR><!-- BEGIN FOOTER --></P> tag:blog.edwardpalonek.info,2008-10-17:72289f23-5e1c-4a5a-81d1-4ec857c85b80 Edward Palonek 2008-10-17T19:04:00Z 2008-10-17T19:04:00Z <SPAN class=sm-blk-text>President Bush has outlined decisive government action to preserve and sustain America's financial system and economy. This is a pivotal moment for America's economy. Problems that originated in the credit markets – and first showed up in the area of subprime mortgages – have spread throughout our financial system. As a result, the government is acting now to protect our Nation's economic health from serious risk. </SPAN><BR clear=all><BR><BR><BR><A href="http://www.foundmoney.com/moneybank/giveaway.html?asid=51&amp;linkname">http://www.foundmoney.com/moneybank/giveaway.html?asid=51&amp;linkname</A>= tag:blog.edwardpalonek.info,2008-10-16:f5425d2a-2796-47e4-bbb1-87f44b1f5719 Edward Palonek 2008-10-16T15:12:00Z 2008-10-16T15:12:00Z <H3><I>Washington, D.C., Oct. 15, 2008</I> — The Securities and Exchange Commission and the Financial Industry Regulatory Authority (FINRA) today announced that the second annual <I>CCOutreach BD</I> National Seminar will be held on March 10, 2009, in Washington, D.C. The seminar helps provide a forum for discussion on effective compliance practices and timely compliance issues in ever-changing markets.</H3> <P>Similar to the <I>CCOutreach</I> National Seminar for chief compliance officers (CCOs) of investment advisers and investment companies, which will be held on Nov. 13, 2008, the <I>CCOutreach BD</I> National Seminar will help broker-dealer CCOs effectively communicate compliance risks, maintain compliance controls, and foster robust compliance programs within their firms, all for the benefit of investors.</P> <P>SEC Chairman Christopher Cox said, "The <I>CCOutreach BD</I> program has proven invaluable in helping the SEC understand the needs and concerns of compliance officers. This National Seminar is an outstanding opportunity for broker-dealer CCOs and their regulators to discuss how to strengthen compliance with the securities laws. This two-way communication is focused directly on real-world problems. And it's built on the shared conviction that empowering CCOs to implement strong compliance programs within their firms will prevent securities laws violations and better serve investors."</P> <P>FINRA CEO Mary L. Schapiro said, "FINRA is pleased to be partnering with the SEC to provide this unique opportunity for broker-dealer compliance chiefs to discuss priority topics directly with regulators. Given the current turmoil and uncertainty about financial markets and institutions, face-to-face meetings of this kind are more valuable than ever."</P> <P>The SEC's Office of Compliance Inspections and Examinations (OCIE), in coordination with the SEC's Division of Trading and Markets, sponsor the <I>CCOutreach BD</I> program together with FINRA. The National Seminar will be held at the SEC's Washington, D.C., headquarters. Five <I>CCOutreach BD</I> regional seminars will be held in spring 2009, with dates and locations to be announced at the National Seminar.</P> <P>Panelists at the <I>CCOutreach BD</I> National Seminar will include SEC and FINRA staff and CCOs from broker-dealer firms, and will feature relevant topics for broker-dealer CCOs (or senior compliance staff if CCOs cannot attend). The SEC and FINRA staff are requesting input from CCOs on topics to discuss in order to make the National Seminar a practical and informative experience. A <A href="http://sec.gov/cgi-bin/goodbye.cgi?www.zoomerang.com/Survey/survey.zgi?p=WEB2288VPK6AQ5">list of potential topics</A> is available for CCOs to make selections by Nov. 10, 2008.</P> <P>There is no cost to attend the National Seminar, but attendance is limited to 500 with priority given to broker-dealer CCOs on a first-come, first-serve basis. Additional details about the <I>CCOutreach BD</I> program and the National Seminar are available on the <A href="http://sec.gov/info/bdccoutreach.htm">SEC Web site</A> and the <A href="http://sec.gov/cgi-bin/goodbye.cgi?www.finra.org/bdccoutreach">FINRA Web site</A>.</P> tag:blog.edwardpalonek.info,2008-10-15:6116504f-165d-4677-b605-6bee7a479919 Edward Palonek 2008-10-15T19:25:00Z 2008-10-15T19:25:00Z <P>SEC's mandate during current crisis.<BR><BR>While other federal and state agencies are legally responsible for regulating mortgage lending and the credit markets, the SEC has taken the following decisive actions to address the extraordinary challenges caused by the current credit crisis:</P> <UL> <LI>Undertaken <A href="http://sec.gov/news/press/2008/2008-214.htm">sweeping enforcement measures</A> against market manipulation. <LI>Adopted a package of measures to <A href="http://sec.gov/news/press/2008/2008-204.htm">strengthen investor protections against naked short selling</A>, including rules requiring a hard T+3 close-out, eliminating the options market maker exception of Regulation SHO and expressly targeting fraud in short selling transactions. <LI><A href="http://sec.gov/news/press/2008/2008-143.htm">Issued an emergency order</A> to enhance protections against naked short selling in the securities of primary dealers, Fannie Mae, and Freddie Mac. <LI>In close coordination with regulators around the world, <A href="http://sec.gov/news/press/2008/2008-211.htm">took temporary emergency action to ban short selling in financial securities</A>. <LI>Announced emergency plans for a rule to <A href="http://sec.gov/news/press/2008/2008-217.htm">ensure public disclosure of short selling positions of hedge funds</A> and other institutional money managers. <LI>Began a <A href="http://sec.gov/news/press/2008/2008-242.htm">study on mark-to-market accounting standards</A>. <LI>The Division of Corporation Finance has asked financial institutions to <A href="http://sec.gov/divisions/corpfin/guidance/fairvalueltr0908.htm">provide additional disclosure</A> regarding off-balance sheet arrangements and the application of fair value to financial instruments. <LI>The Office of Chief Accountant in coordination with FASB staff issued additional <A href="http://sec.gov/news/press/2008/2008-234.htm">guidance to clarify issues regarding fair value accounting</A>. <LI><A href="http://sec.gov/news/press/2008/2008-205.htm">Provided guidance to banks</A> about how to account for credit support of money market funds. <LI>Written rules to <A href="http://sec.gov/news/press/2008/2008-110.htm">strengthen the regulation of credit rating agencies</A>, and <A href="http://sec.gov/news/press/2008/2008-135.htm">performed examinations that have led to new rules</A> to reduce rating agency conflicts-of-interest. <LI>Enforcement Division announced what will be the largest settlements in the history of the SEC for investors who bought auction rate securities from <A href="http://sec.gov/news/press/2008/2008-168.htm">Citigroup</A>, <A href="http://sec.gov/news/press/2008/2008-171.htm">UBS</A>, <A href="http://sec.gov/news/press/2008/2008-176.htm">Wachovia</A>, <A href="http://sec.gov/news/press/2008/2008-181.htm">Merrill Lynch</A>, <A href="http://sec.gov/news/press/2008/2008-246.htm">RBS Capital Markets Corp.</A>, and <A href="http://sec.gov/news/press/2008/2008-247.htm">Bank of America</A>. <LI>Brought a landmark enforcement action <A href="http://sec.gov/news/press/2008/2008-64.htm">against a trader who spread false rumors</A> designed to drive down the price of stock. <LI>Initiated exams of the effectiveness of broker-dealers' controls to prevent the spread of false information intended to manipulate securities prices. <LI>Entered into a <A href="http://sec.gov/news/press/2008/2008-134.htm">Memorandum of Understanding with the Federal Reserve</A>, to make sure key federal financial regulators share information and coordinate regulatory activities in important areas of common interest. <LI>Continues to look at lessons from the credit crisis and determine ways <A href="http://sec.gov/news/speech/2008/spch100808cc.htm">to give investors more transparent, useful, and timely information</A>. <LI>SEC Chairman Christopher Cox has <A href="http://sec.gov/news/testimony/2008/ts092308cc.htm">asked Congress to provide the statutory authority necessary for government oversight</A> of the $58 trillion credit default swaps market. </LI></UL> <P>&nbsp; <P><I>http://www.sec.gov/news/press/sec-actions.htm</I><BR><!-- BEGIN FOOTER --></P> tag:blog.edwardpalonek.info,2008-10-14:a3a5ca76-50f6-4718-8992-15219d26e8a9 Edward Palonek 2008-10-14T16:43:00Z 2008-10-14T16:43:00Z <P>Investers were selling stocks if they thought had any risk and as such we saw the markets head into a tailspin. The downward spiral may have scared the indivdual investor to the point of them not returning to the market for some time.&nbsp;<BR><BR>The small investors have seen the market decline for about a year now and are frustrated that everything they have been taught about the market has turned out wrong. It appears that diversification is not&nbsp;working and the buy-and-hold strategy has not been working as well. </P> <P>Even in money-market funds, usually considered among the safest investments, after several funds suffered losses on short-term asset-backed securities, confidence has been shattered. </P> <P>Investors who thought they were getting into stocks at cheap prices just a week or two ago are staring at the kind of double-digit losses that can make them think twice about buying again anytime soon.</P> <P>After the worst week in the history of the Dow Jones Industrial Average, there could be more bad news and volatile markets ahead. The Chicago Board Options Exchange Volatility Index, or Vix, a measure of investor fear based on options trading, Friday hit its highest level since it was introduced more than 15 years ago.</P> <P>Before the end of last week, traders had marveled that the stock market was posting big declines without signs of panic. That was replaced by wholesale dumping of shares late Thursday and Friday morning.</P> <P>Still, there has been almost nowhere to hide in recent weeks. The average mutual fund in 68 of the 69 Morningstar Inc. stock and bond categories lost money in the past month. Even conservative strategies have taken a beating. Equity-income funds typically hold up better in a down market because they invest in dividend-paying stocks that should have stable finances. <BR><BR>The toll has been especially heavy on investors nearing retirement. Unlike the defined-benefit plans of previous generations, which were better equipped to weather downturns because new money continued to flow in, contributions to a 401(k) plan stop when an individual stops working, so losses can't be made up.</P> <P>What is making matters worse,&nbsp;is that many advisors where telling their clients&nbsp;to hold a higher percentage of their investments in stocks as they approach age 65, because they could need their savings to last another 30 years. This lives millions of&nbsp;baby boomers vulnerable to big losses at a time when the economy could be in for a lengthy period of woes.</P> tag:blog.edwardpalonek.info,2008-10-10:ef7594cc-126f-43a3-95c1-ab3a430b479b Edward Palonek 2008-10-10T15:30:00Z 2008-10-10T15:30:00Z <P>Asian investors&nbsp;saw&nbsp;their worst week in at least two decades, wiping out billions of dollars of savings and retirement funds. </P> <P>The MSCI Asia Pacific Index dropped 7 percent and is set for an 18 percent <A href="http://www.bloomberg.com/apps/quote?ticker=MXAP%3AIND" T_DELAY="50" T_WIDTH="110" T_BGCOLOR="#ddedd9" T_FONTFACE="Verdana,sans-serif" T_FONTCOLOR="#000000" T_STATIC="true" T_ABOVE="true">decline</A> for the week, the biggest slump since the gauge was created on Dec. 31, 1987. Japan's <A href="http://www.bloomberg.com/apps/quote?ticker=NKY%3AIND" T_DELAY="50" T_WIDTH="110" T_BGCOLOR="#ddedd9" T_FONTFACE="Verdana,sans-serif" T_FONTCOLOR="#000000" T_STATIC="true" T_ABOVE="true">Nikkei 225 Stock Average</A> fell 11 percent today on concern the deepening credit crisis will push the global economy into a recession. <BR><BR>The global credit crisis sparked by the U.S. housing market collapse has erased more than $6 trillion in market value worldwide this week. Investors from Sydney to Singapore stood in front of bank- window screens and electronic billboards, monitoring the market misery. <BR><BR>Share declines have sparked anger among investors, directed at banks that fomented a credit crunch by packaging and reselling toxic debt. </P> <P>For investors in China, this week's slump continues a year- long decline that wiped two-thirds off Shanghai's <A href="http://www.bloomberg.com/apps/quote?ticker=SHCOMP%3AIND" T_DELAY="50" T_WIDTH="110" T_BGCOLOR="#ddedd9" T_FONTFACE="Verdana,sans-serif" T_FONTCOLOR="#000000" T_STATIC="true" T_ABOVE="true">benchmark</A> index. A year ago, more than 200 individual investors packed the Shanghai offices of Shenyin &amp; Wanguo Securities Co. each morning. Today there were about 10. </P> <P>Across the region, the slump is conjuring memories of the collapse of Japan's asset bubble in the 1990s and the Asian financial crisis in 1997. </P> <P>Many in Asia are seeking refuge in gold, which has risen 10 percent this week. </P> tag:blog.edwardpalonek.info,2008-10-09:806ca3ea-5401-44a6-9ab7-ba6f17741345 Edward Palonek 2008-10-09T17:29:00Z 2008-10-09T17:29:00Z <STRONG>Even though the stock market continues on is downward spiral you still stick to your retirement plan. <BR><BR></STRONG>During the past year it is estimated that pensions and 401k's have lost over 2 triliion dollars.&nbsp; Take alot of money lost but try not to panic. For those that are 60 and over it is still suggested that you have 10% in cash, 40% in bonds and 50% in stocks. If you are going to need some cash within the 5 years you should take that portion out of stocks. AT this age you really can not afford to take many risks, if at all so stick to cash and bonds for that short term capital. Try not to spend&nbsp;most of your 401k's in the first year, let it accumulate some interest for you.<BR><BR> <P>Looks at some of your other investments firstly before cashing in on your 401k's. Just because you're retiring in a year or two doesn't necessarily mean you'll need the money from your 401(k) right away.&nbsp;You may&nbsp;have a pension, maybe you'll be receiving social security, or maybe you plan to downsize your home and live on the sale proceeds for awhile. <BR><BR>Need a bit of extra cash, you can also enter contests. I found a new one at <A href="http://clearblogs.com/foundmoney">http://clearblogs.com/foundmoney</A><BR><BR></P> tag:blog.edwardpalonek.info,2008-10-08:abd06a18-6b90-4125-83f9-744b2500ad9c Edward Palonek 2008-10-08T18:42:00Z 2008-10-08T18:42:00Z <DIV class=storyheader> <P>The Toronto Stock Exchange's main measure, the S&amp;P/TSX composite index, fell 400.88 points, or 3.9 per cent, to 9,829.55. This was the first time the index closed at less than 10,000 since July 4, 2005. </P>Investors continued selling off their stocks in bulk in both Canada and United States as concerns about the global financial system refused to go away.</DIV> <P>It was the fifth-straight negative day for the TSX composite, the seventh in eight days, and the fifth day where losses surpassed 400 points. <BR><BR></P> <P>The TSX Venture composite index was down 39.64 points, or 3.5 per cent, to 1,094.46.</P> <P>U.S. markets suffered more proportionally than in Canada. The Dow Jones industrial average fell 508.39 points, or 5.1 per cent, to 9,447.11. The Nasdaq composite index declined 108.08 points, or 5.8 per cent, to 1,754.88. The S&amp;P 500 was down 60.66 points, or 5.7 per cent, to 996.23 - the first time it has been less than 1,000 since 2003. </P> <P>Oil prices were up for the first time in five days, but that didn't stop the energy sector from being the biggest drag on the TSX composite. Crude oil in New York rose $2.25 to $90.06 US a barrel.</P> <P>The TSX energy index was down 6.3 per cent. </P> <P>Financial stocks were also plunging. This sector's TSX measure declined 4.4 per cent. <BR><BR>The biggest dollar drop among TSX stocks with trading volume of a million or more shares was from Research In Motion Ltd., which was down $5.07, or 7.7 per cent, to $60.93. Its value has lost almost 40 per cent since reporting second-quarter results Sept. 25.</P> <P>Gold stocks were one of the few strong groups on the TSX Tuesday. Gold prices rose in New York by $15.80 to $882 US an ounce. </P> tag:blog.edwardpalonek.info,2008-06-26:69adeb2a-1c29-41b4-ae4a-ce4bc5874c8b Edward Palonek 2008-06-26T14:20:00Z 2008-06-26T14:20:00Z <h1 class="h1">Retirement Outlook? Bad. Can the Web Help?</h1> <!-- Body --> <p> <i>New Research Identifies Which Retirement Firm Web Sites Are Making Retirement Planning and Saving Easier.</i> </p> <p> New York, NY (<a href="http://www.prweb.com/">PRWEB</a>) July 12, 2006 -- Most Americans are woefully behind on their retirement savings. In theory, the web should offer some hope. The web should allow people to become better informed about retirement planning. The web should make it easy to get started with the right kind of retirement account, thus making saving easier. Unfortunately, the web sites of most firms offering retirement solutions make learning about retirement options much harder than it needs to be. </p> <p>According to new research released today by Change Sciences Group, more than 50% of sites offering retirement solutions make it hard to find the retirement section of the site, let alone make use of it. For people that make it to the retirement section of the site, about half of the sites do not provide the most basic information about retirement fundamentals, such as finding clear, easy to read definitions of account types, or getting a clear definition of "tax deferral".<br> <br> What about Full Service? </p> <p> Most full service brokerages, while sometimes providing helpful content, make it extremely difficult to set up an account, forcing people who may just want to roll over funds to request a printed form, fill it out and fax it back. Most banks don't do much better. </p> <p> To jump to report details visit:<br> <a href="http://changesciences.com/cgi-bin/reports.html" onclick="linkClick( this.href );" target="_blank">http://changesciences.com/cgi-bin/reports.html</a> </p> <p>"Most sites are either cluttered up with too much content that's not written for the web, or too Spartan to be of any use," said Steve Ellis, a Change Sciences partner. "For brokerages, full service or discount, not having a meaningful retirement web strategy simply turns away a wide range of prospects." </p> <p>There are some bright spots. A handful of sites have taken significant steps toward making their retirement sites easy to use and informative. The best site is more than three and a half times better than the worse site, and more than two times better than the average site. The three best retirement sites overall are:<br> 1. Vanguard<br> 2. Wells Fargo<br> 3. TD Ameritrade </p> <p> Other sites covered in the report include: A.G. Edwards, AIG SunAmerica, AIG VALIC, American Century, Ameriprise, AXA Advisors, Bank of America, Charles Schwab, Chase, Citibank, E*Trade, Edward Jones, Fidelity, Key Bank, Marshall &amp; Ilsley, Merrill Lynch, MetLife, Morgan Stanley, National City, Piper Jaffray, PNC Investments, Prudential, Scottrade, Smith Barney, SunTrust, T. Rowe Price, TD Ameritrade, TIAA-CREF, US Bank, Vanguard, Wachovia, WaMu Financial, Washington Mutual, Wells Fargo Advantage Funds, and Wells Fargo. </p> <p>For a detailed research overview including more findings, sample data, the report table of contents, and the complete ranking of all 35 sites visit:<br> <a href="http://changesciences.com/cgi-bin/reports.html" onclick="linkClick( this.href );" target="_blank">http://changesciences.com/cgi-bin/reports.html</a> </p> <p> About Change Sciences<br> Change Sciences was founded in January 2000 to help companies improve online business by basing decisions on how people use technology while they live, work, and play. </p> <p>If you would like more information about this topic or would like to talk with Steve Ellis, please call Kathy Berona at 888-864-1160. </p> <p> Contact:<br> Kathy Berona<br> Change Sciences Group, Inc.<br> 888-864-1160<br> <a href="http://www.changesciences.com/" onclick="linkClick( this.href );" target="_blank">www.changesciences.com</a> </p> <p> ### </p> tag:blog.edwardpalonek.info,2008-06-25:822cd765-3a52-4044-8424-b73760cbea0d Edward Palonek 2008-06-25T21:02:00Z 2008-06-25T21:02:00Z <h1 class="h1">More Communities Draw Bulls-eye on Baby Boomers - New Tool From TopRetirements.com Gets Your Retirement Community Noticed</h1> <!-- Body --> <p> <i>Now it's easy for towns and developments to promote themselves as retirement communities. They can create a free listing in just a few minutes that will seen by thousands of baby boomers looking for a new retirement community.</i> </p> <p> Madison, CT (<a href="http://www.prweb.com/">PRWEB</a>) January 17, 2007 -- Many of the nation's 76 million baby boomersr are starting to think about choosing a retirement community. But up until now these active adults 55+ faced one big problem - where to find an objective list of attractive communities, along with enough usable facts to make an intelligent choice. </p> <p> Free Listings for Retirement Communities<br> Hundreds of baby boomers search <a href="http://www.topretirements.com/" onclick="linkClick( this.href );" target="_blank">www.Topretirements.com</a> every day, looking for their perfect retirement spot. Communities seeking to increase economic development by promoting their town or development as an ideal place to retire now have a powerful and free tool -- they can create a free listing at Topretirements. To list a community all that is needed are a few basic facts (population, Jan. temperature, housing costs, etc.), a photo, and short descriptions in various categories. Each review provides helpful information about what is special about the community, along with its cultural environment, medical, and transportation facilities. Editors at Topretirements refine the listings to insure editorial quality, which can then be edited by other Site Guides. There is no charge for the listings -- create one for your city, town, or active adult community at the site's "Add Your Community" feature (<a href="http://www.topretirements.com/index.php?title=Special:Userlogin" onclick="linkClick( this.href );" target="_blank">http://www.topretirements.com/index.php?title=Special:Userlogin</a>)<br> <br> Topretirements.com is a peer-reviewed online resource where baby boomers can find their perfect retirement community. One of the reasons why thousands of visitors are coming to the site is to download its free eBook, "The "Baby Boomers Guide to Choosing the Perfect Community -- 16 Factors You Need to Consider". This practical 48 page guide was co-authored by clinical psychologist, Roberta Isleib, PhD, and John Brady. </p> <p> Visitors can download the Free Baby Boomer's Guide at <a href="http://www.topretirements.com/index.php?title=Ebookdownloadguest" onclick="linkClick( this.href );" target="_blank">http://www.topretirements.com/index.php?title=Ebookdownloadguest</a> </p> <p> About Topretirements.com<br>Topretirements features peer generated reviews in a Wikipedia-based format that encourages users to create and edit reviews of their communities. Visiting baby boomers will find objective reviews written by real people, instead of glowing advertisements for retirement communities written by marketers. To help active adults make more informed decisions the site presents a searchable database of vital facts about each retirement community such as temperatures, taxes, crime rates, cultural indices, recreational amenities, etc. Discussion Forums for each State and Community provide a venue where visitors can ask questions and give their opinions. </p> <p> <a href="http://www.topretirements.com/" onclick="linkClick( this.href );" target="_blank">www.Topretirements.com</a> -- Find your perfect retirement community! </p> tag:blog.edwardpalonek.info,2008-06-24:d2b58eee-6d98-4cb4-8289-19ac7ad1fcd5 Edward Palonek 2008-06-24T16:57:00Z 2008-06-24T16:57:00Z <div style="font-size: medium; font-weight: bold;"> <p> <b>Russell Research Shows Ninety Percent of Retirement Income Is From Investment Returns, Not Savings/Contributions</b> </p> </div> <p> Almost Two Thirds of Investment Returns Are Earned During, Not Prior to, Retirement </p> <!-- Body --> <p>TACOMA, Wash. (<a href="http://eon.businesswire.com/">Business Wire EON</a>) May 27, 2008 -- Russell Investments has released research to its clients that shows that investment returns generated by 401(k) savings during an individual<span id="bwanpa0">’</span>s retirement play the critical role in providing retirement income. This challenges the conventional belief that retirement income is derived predominantly from savings and returns accumulated during a participant<span id="bwanpa1">’</span>s working years. </p> <p> <table style="border-style: solid none; border-color: rgb(198, 213, 223); border-width: 4px; margin: 5px 12px 5px 5px; padding: 10px; background: rgb(255, 255, 255) none repeat scroll 0% 50%; height: 100%; -moz-background-clip: -moz-initial; -moz-background-origin: -moz-initial; -moz-background-inline-policy: -moz-initial; color: rgb(116, 141, 167); font-size: 16px; font-family: Arial,Helvetica,sans-serif; font-weight: bold; z-index: -1;" align="right" width="250"> <tbody><tr> <td> <img src="http://eon.businesswire.com/images/quote_left.gif"> <a href="http://www.russell.com/" title="http://www.russell.com" alt="Link to website" style="text-decoration: none; color: rgb(116, 141, 167); font-size: 16px; font-family: Arial,Helvetica,sans-serif; font-weight: bold;">It would be wrong to conclude that contribution level is not important. Indeed, without contributions there can be no investment return</a> <img src="http://eon.businesswire.com/images/quote_right.gif" align="absbottom"> </td> </tr> </tbody></table> These findings build off significant research in the defined benefit space conducted by Don Ezra, director, Investment Strategy, almost two decades ago. In this earlier research, <span id="bwanpa2">“</span>A Model of Pension Fund Growth<span id="bwanpa3">”</span> (1989), Ezra modeled DB plan growth and found that <span id="bwanpa4">“</span>for any one plan member, the largest part of the investment return<span id="bwanpa5">…</span>accrues during the payout stage.<span id="bwanpa6">”</span> </p> <p> Dubbed the 10/30/60 Rule by authors Matt Smith, managing director, Retirement Services and Bob Collie, director, Investment Strategy, this new research continues Russell<span id="bwanpa7">’</span>s efforts to leverage its decades of pension expertise for the benefit of the individual investor. In this case, the findings show that in a defined contribution (DC) context, the plan benefits that a participant receives in retirement can be broken out as: </p> <ul><li class="bwlistitemmarginbottom"> 10% of each retirement income dollar consists of contributions made to the DC plan while working </li><li class="bwlistitemmarginbottom"> 30% is made up of investment returns generated prior to retirement </li><li class="bwlistitemmarginbottom"> 60% is made up of investment returns generated after retirement </li></ul> <p> The basic 10/30/60 pattern proved to be stable even with a range of assumptions. As part of its research, Russell altered several input assumptions <span id="bwanpa8">–</span> such as the retirement age, the age when saving begins and age of death <span id="bwanpa9">–</span> and found that only lowering the expected post-retirement return would significantly change the 10/30/60 rule. </p> <p> <span id="bwanpa10">“</span>It would be wrong to conclude that contribution level is not important. Indeed, without contributions there can be no investment return,<span id="bwanpa11">”</span> said Smith. <span id="bwanpa12">“</span>However, with roughly 90% of distributions being generated by investment earnings, sound investment programs are critical if DC plans are to be effective in meeting goals for financial security in retirement. </p> <p> <span id="bwanpa13">“</span>The current turmoil in the markets can cause individual investors to panic and focus only on the short-term. This research underpins the importance of a long-term, diversified investment approach as the best way to maximize the chance of successfully meeting retirement income goals,<span id="bwanpa14">”</span> said Smith. <span id="bwanpa15">“</span>Plan sponsors can do their part by diligently reviewing their plan design to ensure best practices when it comes to investment line-ups, including the plan<span id="bwanpa16">’</span>s default options.<span id="bwanpa17">”</span> </p> <p> For more information on Russell<span id="bwanpa18">’</span>s Retirement Research, please visit <a href="http://www.russell.com/">www.russell.com</a>. </p> <p> <b>About Russell</b> </p> <p> Russell Investments provides strategic advice, world-class implementation, state-of-the-art performance benchmarks and a range of institutional-quality investment products. With nearly $213 billion in assets under management (as of 3/31/08), Russell serves individual, institutional and advisor clients in more than 40 countries. Russell provides access to some of the world's best money managers. It helps investors put this access to work in corporate defined benefit and defined contribution plans, and in the life savings of individual investors. </p> <p> Founded in 1936, Russell is a subsidiary of Northwestern Mutual Life Insurance Company and headquartered in Tacoma, Wash. Russell has principal offices in Amsterdam, Auckland, Johannesburg, London, Melbourne, New York, Paris, San Francisco, Singapore, Sydney, Tokyo and Toronto. </p> <p> RFD# 0469 </p> <p> Copyright <span id="bwanpa19">©</span> Russell Investments 2001-2008. All rights reserved. </p> <p> Russell Investment Group is a Washington, USA corporation, which operates through subsidiaries worldwide, including Russell Investments, and is a subsidiary of The Northwestern Mutual Life Insurance Company. </p> <p> Russell Fund Distributors, Inc. member FINRA, part of Russell Investments. </p> <p> Investments are subject to market risk and may lose value. </p> tag:blog.edwardpalonek.info,2008-06-23:3cae4127-a837-4c8a-b674-cc8f88686bc3 Edward Palonek 2008-06-23T16:22:00Z 2008-06-23T16:22:00Z <h1 class="h1">Senior Something is retiring.</h1> <!-- Body --> <p> <i>With the number of seniors and baby boomers online steadily increasing, SeniorSomething.com is retiring.</i> </p> <p> Houston, TX (<a href="http://www.prweb.com/">PRWEB</a>) September 18, 2004 -- With the number of seniors and baby boomers online steadily increasing, SeniorSomething.com is retiring. On November 31, after five years online, SeniorSomething's founder and owner, Eric Marchand of Houston TX, has decided to deactivate SeniorSomething.com and seven other websites currently online. </p> <p>Marchand considers his group to be lucky since no one is actually being laid off. "Our staff of seven has been released with compensation since August 15. We're all over fifty. We all had other lives before this venture, and that's what we're go back to doing. We operated a debt free operation, that's why we don't have to say ouch." He also cites ongoing health issues as his main motivation. "Right now I need to slow down and spend some time with those close to me." The staff members are scattered across the country and operated from virtual home offices. </p> <p> Having caught the tail of the internet bubble, in early 2001 Marchand unloaded his website and domain name eMoneyGram.com to Traveler's Express. He went on to develope and maintain a high of fourteen websites that catered to a diverse group of niche markets. His website SeniorSomething.com went online in November 1999, and CNN.com highlighted the website on its site for two weeks, one year later. "That was quite a jolt for me. To be recognized at all on the internet after one year was exciting enough, but to have caught the eye of a national news service was very encouraging." SeniorSomething.com was originally developed to make it easier for Marchand's elderly mother to find what she needed online. </p> <p>When asked how he felt about pulling the plug on SeniorSomething, Marchand replied that he'd like to see all the live websites survive, "but I can't be the one to help them do it right now." Offers are being accepted for the SeniorSomething.com property, and approximately 80 other domain names that are owned by Marchand &amp; Associates. Marchand &amp; Associates does business online at eMarketInvestors.com. </p> <p> CONTACT INFORMATION:<br> Eric Marchand<br> Marchand &amp; Associates<br> 713-270-0821 Voice message<br> <a href="http://www.emarketinvestors.com/" target="_blank">http://www.eMarketInvestors.com</a> </p> <p> Interviewed by Iko Nomi<br> 12:30PM CST 17Sept2004 </p> <p> # # # </p> tag:blog.edwardpalonek.info,2008-06-19:2496188d-6cd0-4a48-97c7-cfa004652b5e Edward Palonek 2008-06-19T14:33:00Z 2008-06-19T14:33:00Z <div style="font-size: medium; font-weight: bold;"> <p> <b>RetirementJobs.com<span id="bwanpa20">®</span> Announces National Launch of Age-Friendly Employer<span id="bwanpa21">™</span> Certification Program</b> </p> </div> <p> <i>Top career website for age 50+ workers evaluates and encourages workplaces to retain and recruit experienced employees.</i> </p> <!-- Body --> <p>BOSTON &amp; NEW ORLEANS (<a href="http://eon.businesswire.com/">Business Wire EON</a>) April 30, 2007 -- At the <b>SHRM Staffing Management Conference</b>, <b>RetirementJobs.com</b>, the leading provider of career services to people over age 50, today announced the national launch of the <b>RetirementJobs.com Age Friendly Employer Certification<span id="bwanpa26">™</span> Program. </b>RetirementJobs.com<span id="bwanpa27">’</span>s Certification Program is a unique initiative to identify and expand the number of employers that maintain policies, practices and programs consistent with employment of people age 50 and older based solely on their proficiency, qualifications and contribution, and on terms and conditions comparable to younger individuals. Further, Certification indicates an employer<span id="bwanpa28">’</span>s<i> </i>recognition of the value of age 50+ workers, as well as its commitment to take affirmative action in providing meaningful employment, development opportunities, and competitive pay and benefits. </p> <p> <table style="border-style: solid none; border-color: rgb(198, 213, 223); border-width: 4px; margin: 5px 12px 5px 5px; padding: 10px; background: rgb(255, 255, 255) none repeat scroll 0% 50%; height: 100%; -moz-background-clip: -moz-initial; -moz-background-origin: -moz-initial; -moz-background-inline-policy: -moz-initial; color: rgb(116, 141, 167); font-size: 16px; font-family: Arial,Helvetica,sans-serif; font-weight: bold; z-index: -1;" align="right" width="250"> <tbody><tr> <td> <img src="http://eon.businesswire.com/images/quote_left.gif"> <a href="http://www.retirementjobs.com/" title="http://www.retirementjobs.com" alt="Link to website" style="text-decoration: none; color: rgb(116, 141, 167); font-size: 16px; font-family: Arial,Helvetica,sans-serif; font-weight: bold;">We are honored that RetirementJobs.com designated our company as a Certified Age Friendly Employer(TM)</a> <img src="http://eon.businesswire.com/images/quote_right.gif" align="absbottom"> </td> </tr> </tbody></table> Examples of employers who<span id="bwanpa29">’</span>ve earned RetirementJobs.com <i>Age Friendly Employer Certification</i> include national brands like H&amp;R Block, Marriott, Staples and REI; as well as regional employers: Massachusetts General Hospital, San Francisco<span id="bwanpa30">’</span> Specialty Caf<span id="bwanpa41">é</span> and Bakery, and ARC of Hunterdon County (a New Jersey facility serving people with developmental disabilities). </p> <p> <span id="bwanpa31"><b>“</b></span>We are honored that RetirementJobs.com designated our company as a Certified Age Friendly Employer<span id="bwanpa32">™</span>,<span id="bwanpa33">”</span> said Andrea Smith, Senior Manager of Talent Acquisition at Borders Group, Inc. (NYSE: BGP) a $4.1 billion retailer of books, music, and movies. <span id="bwanpa34">“</span>Borders truly values the diversity of our employees, customers and vendors because it results in our ongoing success. By hiring mature workers, we not only create a workforce that mirrors our customer base, but we also are able to hire talented, loyal and reliable employees who can positively impact the customer experience and our results.<span id="bwanpa35">”</span> </p> <p> <span id="bwanpa36">“</span>The RetirementJobs.com Certification Program streamlines the process of connecting older employees with employers who<span id="bwanpa37">’</span>ll value their experience, addressing the needs of both parties simultaneously<span id="bwanpa38">”</span> says Robert Skladany, VP of Research and Certification, RetirementJobs.com. </p> <p> <span id="bwanpa39">“</span>Our certification program essentially fuses the principles of <i>Consumer Reports</i> with a job board: a codification to label any and all employers that can prove themselves as age-friendly.<span id="bwanpa40">”</span> </p> <p> For more on the <i>Age Friendly Employer Certification</i> Program (including a full-length announcement), or to learn whether your company is age friendly--send an e-mail to <a href="mailto:certify@retirementjobs.com">certify@retirementjobs.com</a> or visit <a href="http://www.retirementjobs.com/">www.retirementjobs.com</a> </p> <p> <i>RetirementJobs.com is a registered trademark; Age Friendly Employer, Certified Age Friendly Employer, Age Friendly Employer Certification are trademarks of RetirementJobs.com, Inc. All other trademarks or service marks are property of their respective owners.</i> </p> tag:blog.edwardpalonek.info,2008-06-18:7c4de407-f6ba-4e0e-b2cf-a6d8850f229d Edward Palonek 2008-06-18T14:53:00Z 2008-06-18T14:53:00Z <div style="font-size: medium; font-weight: bold;"> <p> <b>Newport Builds New Data Center as Its Business Expands</b> </p> </div> <!-- Body --> <p>ORLANDO, Fla. (<a href="http://eon.businesswire.com/">Business Wire EON</a>) June 11, 2008 -- <a href="http://www.newportgroup.com/"><b>The Newport Group</b></a><b>,</b> a national provider of <b>retirement plans, executive benefits </b>and <b>investment advisory</b> services, announced that recent and anticipated company growth has led it to build a new state-of-the-art <b>data center</b><span id="bwanpa3">—</span>an expansion of the secure computer area that houses the firm<span id="bwanpa4">’</span>s core systems, <b>networking</b> and <b>telecommunications</b> equipment. </p> <p> <table style="border-style: solid none; border-color: rgb(198, 213, 223); border-width: 4px; margin: 5px 12px 5px 5px; padding: 10px; background: rgb(255, 255, 255) none repeat scroll 0% 50%; height: 100%; -moz-background-clip: -moz-initial; -moz-background-origin: -moz-initial; -moz-background-inline-policy: -moz-initial; color: rgb(116, 141, 167); font-size: 16px; font-family: Arial,Helvetica,sans-serif; font-weight: bold; z-index: -1;" align="left" width="250"> <tbody><tr> <td> <img src="http://eon.businesswire.com/images/quote_left.gif"> <a href="http://www.newportgroup.com/" title="http://www.newportgroup.com" alt="Link to website" style="text-decoration: none; color: rgb(116, 141, 167); font-size: 16px; font-family: Arial,Helvetica,sans-serif; font-weight: bold;">Due to the recent significant increase in our business, as well as the ongoing growth we expect, we have created a brand-new facility that's over twice as large. This gives us the capacity to expand Newport's data storage systems by hundreds and eventually thousands of servers.</a> <img src="http://eon.businesswire.com/images/quote_right.gif" align="absbottom"> </td> </tr> </tbody></table> <span id="bwanpa5">“</span>Presently, Newport<span id="bwanpa6">’</span>s servers process personal and financial data for 400,000 participants in more than 2,100 retirement and benefit plans nationwide,<span id="bwanpa7">”</span> said Chief Operating Officer <a href="http://www.newportgroup.com/InnerPage.aspx?id=640"><b>Bryant Kirk</b></a>. <span id="bwanpa8">“</span>Due to the recent significant increase in our business, as well as the ongoing growth we expect, we have created a brand-new facility that<span id="bwanpa9">’</span>s over twice as large. This gives us the capacity to expand <b>Newport<span id="bwanpa10">’</span>s</b> <b>data storage</b> systems by hundreds and eventually thousands of <b>servers</b>.<span id="bwanpa11">”</span> </p> <p><img style="margin: 10px 5px;" src="http://eon.businesswire.com/prfiles/2008/06/11/1017524/gI_0_BWNewsImage1017524.jpg" alt="News Image" align="right" border="0"> Inside the facility at Newport<span id="bwanpa12">’</span>s Charlotte, NC service center, a <b>high-tech security system</b> provides <b>video surveillance</b> and monitors the environment and power loads. Newport employs numerous internal and external controls to assure the integrity of client data is protected and its systems are secure, including advanced <b>firewall</b> and <b>backup</b> systems and full <b>disaster recovery</b> planning. Newport<span id="bwanpa13">’</span>s data center features an uninterruptible power supply and backup power, and systems to maintain and monitor electrical power, fire suppression, humidity and temperature. One new feature, Newport<span id="bwanpa14">’</span>s in-row cooling unit system, is the largest of its kind in North Carolina. </p> <p> <span id="bwanpa15">“</span>Our continuing investment in the latest technology helps keep us at the forefront of the <b>retirement services</b> industry,<span id="bwanpa16">”</span> Kirk continued. <span id="bwanpa17">“</span>This in turn allows us to streamline virtually every aspect of client and participant service. Our clients consistently tell us that our <b>technology</b> is second to none in the industry.<span id="bwanpa18">”</span> </p> <p> A full service provider of retirement and benefit plans, Newport has earned industry accolades for its plan sponsor and participant technology. With corporate headquarters in Orlando, the firm maintains service centers in Charlotte, NC, Greensboro, NC, La Crosse, WI, Orlando, FL, Richmond, VA, St. Louis, MO, and St. Petersburg, FL. </p> <p> <b>About The Newport Group</b> </p> <p> Founded in 1984, The Newport Group is a leading retirement services and asset management firm<span id="bwanpa19">—</span>specializing in the creative design, funding, and administration of qualified and non-qualified retirement plans as well as co-fiduciary investment advisory services. Through its innovative and customized solutions, Newport is uniquely positioned to satisfy the distinct financial needs of employers and employees, and has done so for hundreds of the country<span id="bwanpa20">’</span>s largest and best-known companies. For more information, visit <a href="http://www.newportgroup.com/"><i>www.newportgroup.com</i></a><i>.</i> </p> tag:blog.edwardpalonek.info,2008-06-17:03c3a7ce-b70e-4044-8bf4-532cfb2a43d1 Edward Palonek 2008-06-17T17:46:00Z 2008-06-17T17:46:00Z <h1 class="h1">55CommunityGuide.com - Comprehensive Directory of 55+ Retirement Communities </h1> <!-- Body --> <p> <i>Retirement Media Inc. launches newest site with plans to have <a href="http://www.55communityguide.com/" onclick="linkClick( this.href );" target="_blank" title="55 Community Guide">55CommunityGuide.com</a> be the largest directory of retirement communities, active adult communities and 55 plus homes on the Internet.</i> </p> <p> Alpharetta, GA (<a href="http://www.prweb.com/">PRWEB</a>) August 28, 2007 -- Retirement Media Inc. announces <a href="http://www.55communityguide.com/" onclick="linkClick( this.href );" target="_blank" title="55 Community Guide">55CommunityGuide.com</a> has been launched with a good start on its goal of being the most comprehensive directory of 55+ communities and homes on the Internet. Retirement communities and Realtors specializing in 55+ homes may place FREE Premium directory listings on the 55CommunityGuide.com site. This is helping build 55CommunityGuide.com's directory of retirement community listings while giving excellent exposure to the retirement community, according to Robert Fowler, President of Retirement Media Inc. </p> <p> </p><div style="padding-left: 5px; float: right; width: 250px;"> <div><img style="margin: 10px 5px;" src="http://www.prweb.com/prfiles/2007/08/26/156397/gI_55communitylogo.jpg.jpg" alt="55 Community Guide" align="right" border="0"></div> <div style="margin: 1px 10px; text-align: center; clear: both; font-weight: bold; width: 250px;">55 Community Guide</div> </div> <p> <table style="border-style: solid none; border-color: rgb(198, 213, 223); border-width: 4px; margin: 5px 12px 5px 5px; padding: 10px; background: rgb(255, 255, 255) none repeat scroll 0% 50%; height: 100%; -moz-background-clip: -moz-initial; -moz-background-origin: -moz-initial; -moz-background-inline-policy: -moz-initial; color: rgb(116, 141, 167); font-size: 16px; font-family: Arial,Helvetica,sans-serif; font-weight: bold; z-index: -1;" align="left" width="250"> <tbody><tr> <td> <img src="http://www.prweb.com/images_v4/quote_left.gif"> <a href="http://www.55communityguide.com/" title="http://www.55CommunityGuide.com" alt="Link to website" style="text-decoration: none; color: rgb(116, 141, 167); font-size: 16px; font-family: Arial,Helvetica,sans-serif; font-weight: bold;">I had no idea how nice these new Active Adult Communities are and think they will be a big hit to Boomers my age.</a> <img src="http://www.prweb.com/images_v4/quote_right.gif" align="absbottom"> </td> </tr> </tbody></table> Retirement Media Inc. was created in 2006 by Robert Fowler after he sold his home rental ads and property management sites to Consumer Source Interactive. Fowler, age 59, looked at other opportunities and decided his new focus would be retirement sites, especially those related to Boomers and the question of where to live in their retirement. </p> <p> <a href="http://www.smalltownretirement.com/" onclick="linkClick( this.href );" target="_blank" title="Small Town Retirement">SmallTownRetirement.com</a> was Fowler's first site in this new endeavor and has done quite nicely showing up organically in the search engines, a skill Fowler developed with his previous sites. SmallTownRetirement.com includes a blog where reviews of active adult communities, small towns and retirement communities are made. Fowler says "A representative of Pulte/Del Webb read our blog and contacted me requesting I review their three new Georgia communities." Fowler was impressed. "I had no idea how nice these new Active Adult Communities are and think they will be a big hit to Boomers my age." </p> <p>Noting there is no one place to see information on all retirement communities, 55CommunityGuide.com was begun to fill that niche. The site provides Boomers, Seniors and pre-retirees a resource to locate retirement communities and places to retire. The types of properties in 55CommunityGuide.com's directory are <a href="http://www.55communityguide.com/Guide/55_Communities" onclick="linkClick( this.href );" target="_blank" title="55+ communities">55+ communities</a>, <a href="http://www.55communityguide.com/Guide/55_Communities/Active_Adult_Community" onclick="linkClick( this.href );" target="_blank" title="Active Adult Communities">active adult retirement communities</a>, retirement communities, 55+ friendly homes and subdivisions, 55+ condos, manufactured homes, second and vacation homes and brokers/agents catering to 55 plus homes. We even have a category for affordable retirement communities. </p> <p> 55CommunityGuide.com is always free for those looking for a retirement community or a place to live. Communities and agents can place their free premium ad by clicking the "Advertise with Us" link on top of the home page. 55CommunityGuide.com also includes classifieds ads for agents with individual 55 homes to advertise and sections where open houses and preview events can be scheduled, retirement articles and promotional advertising. </p> <p> About 55CommunityGuide.com<br>55CommunityGuide.com is a national on line service which provides a directory of retirement communities, 55 + communities, active adult communities. Also the site provides retirement articles, classified ads for 55 Plus Realtors, events and promotional advertising. Based in Alpharetta, Georgia 55CommunityGuide.com is part of the Retirement Media Inc. family of sites which includes SmallTownRetirement.com and others. For more information, visit 55CommunityGuide.com </p>