Elizabeth Roberts's blog

REFILE-RPT-UPDATE 2-U.S. consumer credit jumps in March

WASHINGTON, May 7 (Reuters) - U.S. consumers went back to using their credit cards in March to keep spending while student and new-car loans shot up as the value of outstanding consumer credit jumped at the fastest rate since late 2001, data from the Federal Reserve showed on Monday.

Total consumer credit grew by $21.36 billion - more than twice the $9.8 billion rise that Wall Street economists surveyed by Reuters had forecast. That followed a revised $9.27 billion increase in outstanding credit in February.

Analysts expressed some reservations whether the data reliably signaled a real pickup in demand, something that would normally fuel stronger growth, or just a need to rely more on credit in an economy generating anemic job growth.

Read Full News

Resources for YOU:

• Loans For Bad Credit
• Bad Credit Cards
• Personal Loans

U.S. Banks Stock Outlook - May 2012 - Zacks Analyst Interviews

The U.S. banks appear well placed to perform relatively better through the remainder of 2012 on lesser pressure on trading income, uninterrupted expense control and a slowdown in the provision for credit losses. At least the progress seen in the first quarter gives this indication. 

Though marked recovery of the bond and equity markets and consequent revenue growth pushed the first quarter results a bit higher than expected, core dynamics also showed strength. 

Moreover, financial institutions are actively responding to every legal and regulatory pressure. This has positioned the banks well to encounter impending challenges. 

However, the potency of the sector is not expected to return to its pre-recession peak anytime soon. The economic intricacies may even result in further disappointments in the upcoming quarters. 

Read Full News

Resources for YOU:

• Bad Credit Card
• Instant Approval Credit Cards
• Bad Credit Car Loans

Greening New York's most iconic skyscraper

(Reuters) - The Empire State Building has long been a signature feature of Manhattan's skyline. But owners of the iconic edifice, planning a $1 billion initial public offering, hope to convince investors and tenants that it's what's on the inside that really counts.

The 81-year-old New York tower has undergone a massive, 3-year makeover designed to cut energy use, modernize office suites, and attract tenants willing to shoulder higher rents. Building owners and key suppliers on Monday will detail the energy savings they've achieved so far.

While the new One World Trade Center has claimed the title of New York's tallest from the Empire State, the 102-floor Art Deco building towers over many others when it comes to the world of building retrofits.

The Empire State is the highest-profile project in a growing collection of renovations that are becoming big business for industrial conglomerates and electrical service firms.

Read Full News

Resources for YOU:

• Bad Credit Personal Loan
• Car Loan
• Bad Credit Card

Obama promises 110,000 new summer jobs for youth

WASHINGTON (Reuters) - The White House pledged on Wednesday to help lower-income youth find summer jobs in a move likely to appeal to younger voters crucial to President Barack Obama's re-election campaign.

The initiative is in partnership with the cities of Philadelphia, Chicago and San Francisco and is meant to add 110,000 jobs, internships and mentorships to the 180,000 summer work opportunities for 16-24 year olds that Obama has promised to create for 2012.

Read Full News

Resources for YOU:

• Bad Credit Loans
• Payday Loans
• Bad Credit Cards

Parents spread out safety net for kids in tough economy

Megan Porter, 24, and her sister Courtney Porter, 23, have both been going to school and working part time since they were 16.

They're not slackers, notes their father, Frank Porter, 52, of Richwood, N.J. That's why he's among the legions of parents of today's twentysomethings who are financially helping their children adjust from adolescence to adulthood. The recession has left many young adults unemployed or underemployed and has sent many back to school.

Megan, for example, earned an English degree last year and is certified to teach elementary school. But education jobs are difficult to find in New Jersey, she says; now she's working 30 hours a week as an administrative assistant. She's returning to grad school in the fall, aiming to be a college professor.

Read Full News

Resources for YOU:

• Bad Credit Loans
• Payday Loans
• Bad Credit Card

Bankruptcy filing halts Albemarle shopping center foreclosure

A last-minute bankruptcy filing on Tuesday postponed the planned foreclosure auction sale of a small Albemarle County shopping center drawn into a Florida-based Ponzi scheme.

The Charlottesville Center, located on U.S. 29 near Rio Road, was set to go to auction on the county courthouse steps at 11:30 a.m. Tuesday.

Attorneys for both sides were prepared to carry out the sale but called it off after WSG Charlottesville, the Miami-based company that owns the property, filed for Chapter 11 bankruptcy with the U.S. District Court in Alexandria about 20 minutes before the auction was set to begin.

About six prospective bidders who showed up for the sale were turned away.

Read Full News

Resources for YOU:

• Credit Cards for Bad Credit
• Bad Credit Loans
• Payday Loans 

Obama, Romney tweak strategies for tight race this fall

(Reuters) - After months of casting Republican Mitt Romney as someone who often changes positions for political convenience, President Barack Obama's campaign is calling Romney a far-right conservative - a contradictory set of messages that essentially invites voters to decide what they don't like about Romney.

And Romney, who has built his campaign around declaring Obama a failure - particularly on the economy - began sounding a more positive note this week, offering hints about his vision for governing if he defeats the Democratic president in the November 6 election.

The subtle changes in tactics by both candidates in recent days are benchmarks for the fall campaign. They symbolize the multiple angles of attack each man plans to use to try to define his rival and appeal to the 20 percent or so of U.S. voters who describe themselves as independent - and who will decide what both sides agree is likely to be a very close election.

Read Full News

Resources for YOU:

• Bad Credit Personal Loan
• Bad Credit Payday Loans
• Bad Credit Secured Credit Cards

Credit counselors answer questions about credit and debt

Financial literacy is sort of like the weather: everybody talks about it. But are we becoming smarter about our money? Recent surveys suggest that we're not: Young adults fare poorly on financial literacy tests, and their parents don't do very well, either. As Financial Literacy Month comes to a close, USA TODAY teamed up with members of the National Foundation for Credit Counseling to answer some frequently asked questions about credit cards, credit scores, student loans and other types of debt.

Q: I have some retail store credit cards I haven't used for years. Is it better to close the account with the store or simply cut up the card?A: This is a quite common question, especially among consumers who do not carry a balance on their retail cards. It's natural to want to close an account that is no longer in use. However, if you close an account, you may temporarily damage your credit score.A credit score is commonly based upon five categories: payment history, amount owed, length of credit history, pursuit of new credit, and the types of credit in use. Not all categories are weighted the same; however, all categories affect how your score is calculated. When you close an account, even one that is not in use, you are losing some of the credit available to you. This could increase your debt-to-income ratio, which might hurt your score.

Read Full News

Resources for YOU:

• Bad Credit Loans
• Bad Credit Credit Cards
• Bad Credit Home Loans

Obama on student loans: 'This is personal'

President Obama wrapped up his two-day tour of college campuses today at the University of Iowa, again calling on Congress to extend a low interest program for student loans.

"This is personal," Obama said while discussing the value of a college education. "This is the heart of who we are."

The president, who said he and wife Michelle just paid off their own student loans a mere eight years ago, also told a friendly crowd of students that "we've got to make college more affordable for more people."

Obama, who is seeking to make the youth vote a key part of his election-year coalition, visited the universities of North Carolina and Colorado on Tuesday.

Read Full News

Resources for YOU:

• Bad Credit Payday Loans
• Bad Credit Secured Credit Cards
• Credit Card Companies

Millennials struggle with financial literacy

Paralyzed. That's how Paige Worthy feels when she thinks about budgeting her money.
"I freeze. I have no idea where to even start with this," the 29-year-old says.

Worthy has held at least six jobs since graduating from college in 2005. She lives in Chicago, where she works as a publication director at a non-profit press association — but she plans to leave that job to do freelance content marketing starting next month. Over the past few years, she has "just scraped together," which she attributes to an unstable income and sporadic spending habits.

"Part of me feels like I'm way too old to be flying by the seat of my pants like that," she says.

Read Full News

Resources for YOU:

• Bad Credit Cards
• Bad Credit Secured Credit Cards