Simply Credit Help - Debt and Bad Credit Improvement Advice

Facebook expands IPO size, aims for $15 billion: source

publisher — Wed, 16 May 2012 01:17:14 +0000

SAN FRANCISCO (Reuters) – Facebook Inc is increasing the size of its IPO by 85 million shares to about 422 million, a source familiar with the matter told Reuters, raising more than $15 billion in Silicon Valley’s largest market debut. The increased volume comes just after the world’s No. 1 social network hiked its price range to $34 to $38 a share, from $28 to $35 previously. Facebook had originally intended to sell about 337.4 million shares. At a mid-point of $36, the company would raise $…

Read the original post:
Facebook expands IPO size, aims for $15 billion: source

GM to drop Facebook ads due to low consumer impact

admin — Wed, 16 May 2012 00:36:50 +0000

DETROIT/SAN FRANCISCO (Reuters) – General Motors Co said on Tuesday it will stop advertising on Facebook, even as the social networking website prepares to go public. While GM gave no specific reason for dropping Facebook ads, a source familiar with the automaker’s plans said the company’s marketing executives decided Facebook’s ads had little impact on consumers. While GM’s decision could be an exception in the advertising world, it marked the first highly visible crack in the Facebook strategy, said Brian Wieser, Internet and media

See more here:
GM to drop Facebook ads due to low consumer impact

URS CEO anticipates U.S. manufacturing renaissance

admin — Tue, 15 May 2012 23:36:32 +0000

(Reuters) – Martin Koffel, head of engineering company URS Corp , feels the United States is poised for a manufacturing renaissance, driven at least in part by demand among the developing world’s burgeoning consumer class. “There is once again a cachet about American-made products,” the CEO said in an interview on Tuesday. “In some industries at some levels, there’s going to be a Made in America advantage. …

Read the original post:
URS CEO anticipates U.S. manufacturing renaissance

Obama has assets in JPMorgan accounts: White House

elegant — Tue, 15 May 2012 23:23:08 +0000

WASHINGTON (Reuters) – President Barack Obama has $500,001 to $1 million in a JPMorgan Chase private client asset management checking account, according to financial disclosures released by the White House on Tuesday. Obama said this week that JPMorgan was “one of the best managed banks there is” despite its

Read more from the original source:
Obama has assets in JPMorgan accounts: White House

Repsol sues Argentina over giant YPF seizure

publisher — Tue, 15 May 2012 22:59:27 +0000

MADRID/NEW YORK (Reuters) – Repsol YPF SA , the large Spanish oil and gas company, on Tuesday sued Argentina for seizing control of formerly state-owned energy company YPF SA , in which Repsol held a majority stake. The lawsuit, filed in the U.S. District Court in Manhattan, is part of …

View post:
Repsol sues Argentina over giant YPF seizure

Impact of a loan default on your FICO score

elegant — Tue, 15 May 2012 02:41:24 +0000

If you are considering defaulting on your mortgage, consider the impact of such an action on your FICO score. We looked into the impact of this action on FICO score and here’s what we learned.

FICO (Fair Isaac Corporation) score is the well-known and widely used credit score in the U.S. FICO score is based on payment history (35%), amount owed (30%), length of credit history (15%), new credit or searches for credit (10%) and types of credit used (10%). The score ranges between 300 to 850 and 60 percent of the people falls between 650 and 799.

If you have an excellent score of 780, a foreclosure of a home mortgage will result in reducing the score by about 120 points. A foreclosure could stay in your credit history for seven years. During that time your FICO score will be increased gradually provided that you have no other negative instances reported. If your FICO score is 680, a foreclosure will cause your score to drop by 100 points and will take only three years to get back to 680 provided that other factors remain unchanged. FICO score between 720 and 740 are considered preferable by most of the lenders.

Best Buy founder leaving chairman role after CEO probe

elegant — Mon, 14 May 2012 14:48:05 +0000

(Reuters) – Best Buy Co Inc founder and Chairman Richard Schulze is stepping down after he failed to tell the board that former Chief Executive Officer Brian Dunn had violated company policy by having “an extremely close …

Here is the original post:
Best Buy founder leaving chairman role after CEO probe

Despite Germany, euro zone sinks towards recession

elegant — Mon, 14 May 2012 14:41:08 +0000

BRUSSELS (Reuters) – Strong production in Germany could not make up for a slump across the rest of the euro zone in March with declining output at factories falling and signaling an oncoming recession may not be as mild as policymakers hope. Industrial production in the 17 countries sharing the euro fell 0.3 percent in March from February, the EU’s statistics office Eurostat said on Monday. Economists polled by Reuters had expected a 0.4 percent increase overall. The figures stood in contrast with German data showing output in the euro

Read the original:
Despite Germany, euro zone sinks towards recession

GM’s Chevrolet to introduce small crossover SUV

publisher — Mon, 14 May 2012 14:22:43 +0000

DETROIT (Reuters) – General Motors Co’s main brand Chevrolet will introduce a new small crossover SUV at the Paris auto show in September, the company said on Monday. The Chevrolet Trax will be sold in 140 countries and will be introduced first in Mexico in the fourth quarter of this year. But it will not be sold in the United States. The Trax is slightly smaller than the Chevrolet Equinox crossover SUV, which is sold only …

Ally hopes to end mortgage woes with ResCap bankruptcy

elegant — Mon, 14 May 2012 13:44:09 +0000

NEW YORK (Reuters) – Ally Financial Inc’s mortgage unit on Monday filed for bankruptcy and the auto lender said it will sell some international operations to help set it on a path to repaying $12 billion in bailout money. Ally’s mortgage unit, called Residential Capital, or ResCap, filed for bankruptcy protection in

Go here to see the original:
Ally hopes to end mortgage woes with ResCap bankruptcy