Monthly Archives: August 2013

Attorney De Sapio To Demand Answers About Hunterdon Finance Department

India finance minister asks banks to ensure credit flow to industry

He promised that the accountants report will be released to the public. This is public money and they deserve to know what happened, he said. De Sapio, who served as Hunterdon County counsel for 30 years, represents Finance Director Kimberly Browne, Treasurer Margaret Pasqua and Payroll Administrator Megan Youells. He spoke forcefully for them at the July 2 Freeholder session, urging the board to reinstate them to their lawful positions effective immediately. Hell be asking the same, and more, at next weeks meeting.

(Lawrence K. Ho / Los Angeles Times / June 16, 2011) By Patrick McGreevy August 30, 2013, 8:16 a.m. SACRAMENTO — The California Republican Party violated state campaign finance rules by failing to properly disclose its contributions last year to a campaign against newly drawn state Senate districts, the states ethics agency has concluded. In all, the state GOP provided $1.9 million in contributions, in-kind services and loans to the group Fairness and Accountability in Redistricting (FAIR), which qualified a ballot measure to overturn the new state Senate redistricting maps. After the Supreme Court found the maps were properly drawn, FAIR dropped its opposition to the redistricting plan.

California GOP violated campaign finance rules, watchdog says

Credit: Reuters/Adnan Abidi NEW DELHI | Thu Aug 29, 2013 8:46am EDT NEW DELHI (Reuters) – Indian Finance Minister P. Chidambaram on Thursday asked state-run banks to ensure flow of credit to every sector of industry, indicating the need for funding projects amid an economic slowdown. The banks have been asked to assist industrial borrowers who were facing difficulties and be sympathetic towards genuine defaulters, Chidambaram told a parliamentary panel attached to the finance ministry. Economic growth virtually halved in two years to 5 percent in the fiscal year that ended in March — the lowest level in a decade — and most economists surveyed by Reuters in the past week expect 2013/14 to be worse. (Reporting by Manoj Kumar; Editing by Sunil Nair) Tweet this

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Compton’s first Latino lawmaker finally submits finance forms

RPT-Market Chatter-Corporate finance press digest

Galvan is the first Latino city councilman in Compton. (Bob Chamberlin / Los Angeles Times / July 2, 2013) Also By Angel Jennings and Abby Sewell August 27, 2013, 7:28 p.m. Compton City Councilman Isaac Galvan belatedly filed mandatory campaign finance forms after state officials threatened to open a formal investigation when he missed several deadlines. The financial statements, which were submitted Thursday, show that Galvan spent $29,000 on his race to become Compton’s first Latino elected official. Galvan also reported that he raised only half as much as he spent. Most of his donations came from people outside of Compton in neighboring southeast communities. According to the documents, Galvan has outstanding debts totaling $15,500, most of which was attributed to printing campaign fliers. The 26-year-old reported that he owes Angel Gonzalez, his former campaign manager, almost $12,000. Galvan hired Gonzalez as his community liaison when he won the election. Gonzalez was subsequently fired by Compton’s city manager after The Times published a story that revealed Gonzalez’s criminal history. In 2002, Gonzalez was convicted of a felony conspiracy charge reduced to a misdemeanor at his sentencing for sending out attack mailers with copies of fake official documents.

<img src='http://www.trbimg.com/img-521e7774/turbine/la-me-ln-document-isaac-galvan-campaign-filings-sl/187/187×105&#039; width='220px' alt='Document: Isaac Galvan campaign filings’ style=’float:left;padding:5px’ />

Theyre all lessons that are essential in practicing responsible money management, and yet theyre all topics you probably didnt cover in school. Download the free toolkit from our back-to-school section. Money Crashers Money Crashers is a site that looks at smarter spending from all angles from ways to make food scraps useful (for example, 7 Creative Ways to Use Leftover Juicing Pulp,) to how to exercise on the cheap. And it talks personal finance, too.

OUR VIEW: Campaign finance laws need teeth

sister plant in the deal, a source with knowledge of the matter said. * Swedish refiner Nynas will win unconditional EU antitrust approval for its proposed acquisition of most units of Royal Dutch Shell’s Harburg refinery, a person familiar with the matter said on Thursday. * AT&T Inc will examine Vodafone Group Plc’s remaining assets after Verizon Communications buys out the British mobile carrier’s stake in Verizon Wireless, Bloomberg reported, citing people familiar with the matter. * L’Oreal will be ready to buy Nestle’s 29.5 percent stake in the French cosmetics giant next year, French daily Les Echos reported, citing L’Oreal Chief Executive Jean-Paul Agon.

Corporate finance leaders should empower end users through technology

Silvias $20,000 fine is a drop in the bucket compared to the $80,000 fine former Lt. Gov. Timothy Murray has agreed to pay for campaign finance law violations. Meanwhile, in previous years, Fall River Mayor Will Flanagans campaign has been fined multiple times for accepting contributions above the limit provided by law.

The Best Personal Finance Blogs That You Should Be Reading

Our roles have evolved, and there are other things that we could be doing that are better uses of our time.” Since implementing Host Analytics , May said non-finance users are now able to enter budget data and run reports whenever they need to, albeit within the limits of account security settings. They are also encouraged to request new reports. But he didn’t turn a blind eye to the Achilles’ heel of such an approach — user buy-in. “In our case, [user buy-in] was one reason why we wanted something with a similar look and feel” to Microsoft Excel spreadsheets , he said. “If you can get that user buy-in, people are going to own the system and it’s going to make your job a lot easier.” He added that finance leaders should aim to secure buy-in at all levels — starting at the top and working down to end users.

Finance Ministry sends letters to indirect tax defaulters

Representative pic

The letters are being sent to an entity or an individual to seek clarification on a financial transaction, red flagged by economic intelligence agencies as black money or seen as an attempt to dodge authorities from paying taxes, carried out by them, they said. The numbers of letters issued to the entities were not immediately known. It is for the first time that such letters have been issued to indirect tax defaulters, a senior Finance Ministry official said, adding that the Income Tax Department has been issuing such letters to direct tax dodgers. The Finance Ministry has decided to go after about 12 lakh service tax assesses who had stopped filing returns.

Euroloan Consumer Finance PLC in 28 million EUR deal

Earlier he worked for KPMG as Director and Head of Business Area Risk Advisory Services, at Oxford IPC Worldwide as Partner and Vice President, Europe, and in several leading positions within ABB Financial Services and ABB Group. He has a number of Board positions, and is a founding member holding a Fellowship with the Oxford Leadership Academy. Mr. Pauli Hentunen (BBA), co-founder of the Group and former Chairman.

Finance ministry in process of completing draft for 2014 Budget

Please try again later. KUCHING: The Finance Ministry is now in the process of completing the draft for 2014 Budget after receiving some 100 memorandums for consideration from various parties throughout 2014 Budget Consultation Council sessions since June this year. Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah said the consultation sessions were held in the peninsula, Sarawak and Sabah, and after the third session in Kota Kinabalu on Aug 22, the process of completing the draft for 2014 Budget was now in the last phase. “The draft is expected to be completed in the middle of September for scrutiny and finalised before being tabled by Prime Minister Datuk Seri Najib Tun Razak next October.

Compton’s first Latino lawmaker finally submits finance forms

The Best Personal Finance Blogs That You Should Be Reading

(Bob Chamberlin / Los Angeles Times / July 2, 2013) Also By Angel Jennings and Abby Sewell August 27, 2013, 7:28 p.m. Compton City Councilman Isaac Galvan belatedly filed mandatory campaign finance forms after state officials threatened to open a formal investigation when he missed several deadlines. The financial statements, which were submitted Thursday, show that Galvan spent $29,000 on his race to become Compton’s first Latino elected official. Galvan also reported that he raised only half as much as he spent. Most of his donations came from people outside of Compton in neighboring southeast communities. According to the documents, Galvan has outstanding debts totaling $15,500, most of which was attributed to printing campaign fliers. The 26-year-old reported that he owes Angel Gonzalez, his former campaign manager, almost $12,000. Galvan hired Gonzalez as his community liaison when he won the election. Gonzalez was subsequently fired by Compton’s city manager after The Times published a story that revealed Gonzalez’s criminal history. In 2002, Gonzalez was convicted of a felony conspiracy charge reduced to a misdemeanor at his sentencing for sending out attack mailers with copies of fake official documents. In a separate case, he was convicted on two misdemeanor counts of sending out misleading campaign fliers.

Silvia ordered to pay $20,000 for campaign finance violations

This is a great site for those who want to live more frugally and educate themselves on personal finance. Wisebread From quick tips, to find frugal shorts, to useful financial life hacks, Wisebread has a little of everything and its fun. Wisebread also reviews cards based on their various categories, so they have guides to choosing the best travel rewards cards, 0% balance transfer cards, best cards for groceries, and the best cards for receiving cash back. Hidden behind catchy titles, like Your Sleeping Position May Be Hurting You and Investment Secrets of the Rich and Famous, is some really useful, outside-of-the-box information. Definitely worth checking out.

Market Chatter-Corporate finance press digest

Nies graduated with a Bachelor of Science in Computer Science from the University of California San Diego. About Think Finance Think Finance develops online financial products that bridge the gap between payday loans and credit cards. Using our technology and analytics platform, Think Finance and the lenders we work with have provided over $3.5 billion in credit to 1.5 million consumers in the U.S. and abroad and have saved customers over $1 billion compared to payday loans.

<img src='http://www.trbimg.com/img-521e7774/turbine/la-me-ln-document-isaac-galvan-campaign-filings-sl/187/187×105&#039; width='220px' alt='Document: Isaac Galvan campaign filings’ style=’float:left;padding:5px’ />

Among the specific violations, Silvia spent $25,800 directly from a bank account listed under the name of Colette Matarese, who the representative described as a longtime friend and companion. The account did not include any of Silvias personal funds even though he was added as a signatory in March 2012. OCPF said the use of Matareses money from the account represents an excess contribution above the $500 annually as allowed under state law. In a deposition from Matarese, she informed the OCPF that she considered the money in the account as much Silvias money as her funds. Of the $25,800, the committee only disclosed $11,600 on campaign finance reports.

Think Finance Hires Craig A. Nies as Chief Analytics Officer

* A PricewaterhouseCoopers (PwC) pension fund is in talks to buy a stake in a German skyscraper, in what could be one of Europe’s biggest property deals this year, a source close to the negotiations told Reuters. * Citadel LLC, Virtu Financial, Two Sigma and RGM Advisors are among the companies bidding for E*Trade Financial Corp’s market-making unit in a deal expected to be worth $100 million to $200 million, several sources with direct knowledge of the situation said on Wednesday. * Institutional fixed-income trading platform providers Tradeweb and MarketAxess are among three bidders for BondDesk Group LLC in a deal that is expected to be valued up to $200 million, two sources familiar with the situation told Reuters this week. * Verizon Communications Inc and Vodafone Group Plc have restarted talks over a possible buyout of the British firm’s stake in their U.S. wireless joint venture, the Wall Street Journal said, a deal that is expected to cost Verizon more than $100 billion.

Sandra N. Berlin, finance specialist, dies at 63

Silvia ordered to pay $20,000 for campaign finance violations

Berlin had worked at the American Anthropological Association for four years. She had previously worked as an independent management consultant and for the nonprofit Benton Foundation, the United Mine Workers of America health and retirement fund, the accounting firm Touche Ross and Co., American Security Bank and Trust, and the Federal Reserve. Sandra Elizabeth Noweck was born in Morristown, N.J. She received a bachelors degree in economics and German in 1972 and a master of business administration degree in 1974, both from the University of Colorado at Boulder. She settled in the Washington area in 1975 and had lived in Lake Barcroft since 1985.

India’s finance minister tries to stem panic

shri chidambaram india finance minister

LONDON (CNNMoney) India’s finance minister is trying hard to restore calm to the country’s financial markets. India has had a rough few weeks, with the rupee falling to a historic low and equity markets tumbling by 11% as investors pull their money out of the country. In a press conference Friday, Finance Minister P. Chidambaram tried to restore confidence even as he acknowledged that the country was facing a challenging time. “We believe that the rupee is undervalued and has overshot what is generally believed to be a reasonable and appropriate level,” he said, according to a written statement.

* A PricewaterhouseCoopers (PwC) pension fund is in talks to buy a stake in a German skyscraper, in what could be one of Europe’s biggest property deals this year, a source close to the negotiations told Reuters. * Citadel LLC, Virtu Financial, Two Sigma and RGM Advisors are among the companies bidding for E*Trade Financial Corp’s market-making unit in a deal expected to be worth $100 million to $200 million, several sources with direct knowledge of the situation said on Wednesday. * Institutional fixed-income trading platform providers Tradeweb and MarketAxess are among three bidders for BondDesk Group LLC in a deal that is expected to be valued up to $200 million, two sources familiar with the situation told Reuters this week. * Verizon Communications Inc and Vodafone Group Plc have restarted talks over a possible buyout of the British firm’s stake in their U.S. wireless joint venture, the Wall Street Journal said, a deal that is expected to cost Verizon more than $100 billion.

Market Chatter-Corporate finance press digest

Silvia also ran for the same seat in 2010. Silvia said the investigation started in December before he was sworn into office after what had been a contentious race with incumbent Kevin Aguiar. Im glad its been resolved, Silvia said, Its been painful, but in the eight months Ive been in office, I never allowed it to interfere with the work Ive done for my constituents and my work at the Statehouse. Silvia said he has already paid half of the civil fine, which is ahead of the payment schedule set up by the OCPF. He has until March 1, 2015, to pay the full amount of the fine, and if he complies with the agreement, which includes filing additional campaign finance reports with OCPF, an agreed suspended forfeiture of $10,000 would be waived.

German finance minister: ‘I don’t see’ any further eurozone bailouts

We don’t want a German Europe but we want a strong Europe and that means every member state including Germany has to increase its competitiveness,” Schaeuble said. “A stronger Europe means that everyone has to do its duty and not to ask for more money by others — that’s the wrong way to get a strong Europe, that’s the wrong incentive.” German FM: Greece needs until 2022 German FM: Eurozone in a better place His comments come ahead of the September 22 election, as Merkel faces a German electorate weary of Europe’s largest economy helping to bail out troubled eurozone nations, whose debt woes have threatened the stability of the currency. Greek unemployment hits record 27.6% Greece, along with three other eurozone countries — Portugal, Ireland and Cyprus — remain dependent on rescue loans from the EU and International Monetary Fund (IMF). The 17-nation eurozone has emerged from its longest ever recession, growing 0.3% in the second quarter after 18 months of contraction. Unemployment rates remain high, but worries that the debt crisis could spread to larger economies such as Spain and Italy — which both saw borrowing costs climb dangerously high last year — have abated.

Market Chatter-Corporate finance press digest

government housing finance authorities are pressing JPMorgan Chase & Co for at least $6 billion to settle lawsuits over bonds backed by subprime mortgages, according to a person familiar with the matter. * Billionaire Roman Abramovich is close to buying one of the biggest top-end office complexes in Moscow for up to $800 million in what would be Russia’s second-largest office deal, three sources told Reuters. * KKR & Co and TPG Capital are out of the running in the auction for Hutchison Whampoa Ltd’s Hong Kong supermarket chain ParknShop, people close to the matter told Reuters, after their offers failed to meet the company’s expectations. * BlackBerry Ltd is considering spinning off its messaging service into a separate unit, the Wall Street Journal said on Tuesday, quoting people familiar with the matter.

Finance committee to debate library, ferry funding

But according to our news partners at the Florida Times-Union, the water service needs $700,000 to continue operating. The newspaper also reports a key subsidy from the Jacksonville Port Authority will no longer be available in the new fiscal year. The ferry has suffered in recent months with ridership down at the end of last year by about 10%, according to the newspaper. Finance committee members will also debate this week funding for the Jacksonville Sheriff’s Office, Jacksonville Journey and the Parks and Recreation Department. Jacksonville Journey is an anti-crime initiative that is currently trying to make the city safer in the wake of a violent summer.

German finance minister: ‘I don’t see’ any further eurozone bailouts

Fifth Street Finance (FSC) Passes Through 11% Yield Mark

“A stronger Europe means that everyone has to do its duty and not to ask for more money by others — that’s the wrong way to get a strong Europe, that’s the wrong incentive.” German FM: Greece needs until 2022 German FM: Eurozone in a better place His comments come ahead of the September 22 election, as Merkel faces a German electorate weary of Europe’s largest economy helping to bail out troubled eurozone nations, whose debt woes have threatened the stability of the currency. Greek unemployment hits record 27.6% Greece, along with three other eurozone countries — Portugal, Ireland and Cyprus — remain dependent on rescue loans from the EU and International Monetary Fund (IMF). The 17-nation eurozone has emerged from its longest ever recession, growing 0.3% in the second quarter after 18 months of contraction. Unemployment rates remain high, but worries that the debt crisis could spread to larger economies such as Spain and Italy — which both saw borrowing costs climb dangerously high last year — have abated.

Fast forward to 5/31/2012 and each share was worth $77.79 on that date, a loss of $0.48 or 0.6% decrease over twelve years. But now consider that you collected a whopping $10.77 per share in dividends over the same period, increasing your return to 13.15%. Even with dividends reinvested, that only amounts to an average annual total return of about 1.0%; so by comparison collecting a yield above 11% would appear considerably attractive if that yield is sustainable. Fifth Street Finance Corporation ( NASD: FSC ) is a member of the Russell 3000, giving it special status as one of the largest 3000 companies on the U.S.

Peru’s Finance Minister Cuts 2013 Growth Forecast to 5.7%

You must enter the verification code below to send. Invalid entry: Please type the verification code again. August 27, 2013, 3:50 p.m. ET Peru’s Finance Minister Cuts 2013 Growth Forecast to 5.7% Text By Robert Kozak LIMA, Peru–Finance Minister Luis Miguel Castilla estimated that gross domestic product will expand by 5.7% this year, down from a previous forecast of 6.3% growth. Mr.