… News, the City of Dallas is facing a $100 million budget deficit that may cause them to cut services to close the gap.

The article said:

The first round of proposed cuts has put the jobs of nearly 350 city employees at risk and placed everything from police overtime to Dallas Zoo exhibits on the chopping block.

Though City Manager Mary Suhm has said she is not prepared to propose a tax increase, she is considering raising two fees, including 6 percent on average for water service …

Permalink: /breaking-news/as-dallas-budget-deficit-looms-city-considers-drastic-cuts-to-services/

… amendment to be considered on the House floor as an amendment to the broader financial services reform bill AS EARLY AS THIS AFTERNOON!!

H.R. 4173 being offered by Reps. Conyers, Turner, Lofgren, Marshall and others  will help financially distressed families avoid foreclosure. This amendment will empower bankruptcy judges to modify mortgages on primary residences, and help families desperately in need of assistance avoid foreclosure.

This one small change will help stabilize …

Tags: Bankruptcy Community Action Financial services foreclosure Mortgage United States House Committee on Rules

According to an article in the Star-Telegram, American Corrective Counseling Services, a debt collection company has agreed to a $2.55 million judgment to settle a lawsuit brought by thousands of debtors who claimed they were wrongly led to believe they had to pay costly fees to avoid criminal charges for bouncing checks.

The article said:

“The company sent out letters as recently as last winter purporting to be from various Pennsylvania district attorneys’ …

Tags: American Corrective Counseling Services Debt Collector Judgement

… 199-bed hospital said that it expected to emerge from bankruptcy within a year and that all services would remain open…It also plans to emerge with a new business model that excludes HMO patients in favor of patients with preferred provider organization (PPO) health insurance.”

Downing reported losses totaling $100 million due to unfavorable HMO contracts which pay hospitals a set fee per patient per month, regardless of the treatment costs for those patients. By contrast PPO …

Tags: Business Financial services Health insurance

… in federal laws passed in 2006 and 2008, according to the Centers for Medicare and Medicaid Services.

Now Congress is considering more than $100 billion in additional cuts to Medicare Advantage that Zirkelbach said will result in even higher premiums and reduced benefits for more than 10 million seniors in the program.

Regardless of funding decisions which will impact the Medicare program, senior citizens will need healthcare coverage.  And without adequate coverage many senior …

… The company is trying to reshape its business model by focusing on more kiosks and more on-demand services, but insiders worry that the transformation is going to be too expensive for the company.  That combined with the fact that the company lost around $183 – $193 million in 2009 means that the company could be headed for bankruptcy.

Borders; the company’s same-store sales dropped over 14% during the 2009 holiday season.  The company announced plans to close 182 Waldenbooks stores …

… Jackson, was declared in default on a $132,000 debt related to office medical equipment and services and his home in Las Vegas may be facing foreclosure. However, Dr. Murray’s problems aren’t limited to his recent financial predicament, according to some sources, he has a long history of financial troubles:

- In June 1992, Murray filed for bankruptcy in the state of California. According to public records, his debt was discharged by the court.

- In February 1993, the …

… 9 bankruptcy may face spending/budgetary restrictions that will impact the type and quality of services being offered.  But over the long run, Chapter 9 bankruptcy could free up income by reducing debt and improve citizens quality of life.

Right before a city files Chapter 9 bankruptcy, it is usually suffering a serious budget deficit, mounting debts and the inability to pay those debts.  Citizens may experience serious service cuts to education, police force reductions and even the …

… prohibit so-called “ foreclosure prevention” companies from charging up-front fees for their services. 

“Homeowners facing foreclosure or struggling to make mortgage payments shouldn’t have to contend with fraud­ulent companies that don’t provide what they promise,” FTC Chairman Jon Leibowitz said. “The proposed rule would outlaw up-front fees so companies can’t take the money and run.”

Foreclosure prevention scams have been one of the leading causes of grief …

… One of the mistakes many recruiters make during slow times is scrimping on those items and services that will help them make more money or expand.  Items that will help you make more money or grow should also be placed at the top of your spending priorities.

Will purchasing this product or service help me gain access to top quality clients and/or candidates?  Since a recruiter’s business is only as good as its clients and candidates, finding and working with the best is critical …

… would give the Federal Deposit Insurance Corp the authority to dismantle large troubled financial services firms. The FDIC would be able to guarantee debts of firms in receivership.

And while some senators say the bill goes too far, others say that it’s not strict enough.  Some of the committee’s members want to create stricter laws that would make bankruptcy the first option and ensure that creditors and shareholders share in the loss if the financial firm fails.

Bankruptcy and …

… The 20 largest creditors in the case have claims worth more than $18 million. Wachovia Financial Services, the largest creditor, has a $10.5 million claim that includes an aircraft loan guaranty. Wachovia in October increased the amount of Miles Properties’ cash flow required to be held in reserve, which affected the company’s working capital.

Miles Properties has 15,000 to 20,000 residents who have not yet been affected by the Chapter 11 bankruptcy filing; but it is not clear yet if …