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Some tax rebate checks hit obstacles, selling off the core business & shrinking nest eggs - Today in Money 5/16

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In the News:

Some Tax Rebate Checks Hit Obstacles
To date, the IRS has issued nearly 30 million stimulus checks, totaling more than $27 billion. This is the first time the IRS has used direct deposit to deliver rebates - a step intended to quickly pump money into the struggling economy. But several problems have delayed the process.
Some tax rebate checks run into obstacles - USATODAY.com Some IRS tax rebate checks going to wrong accounts - USATODAY.com
Also: Errors Will Prevent 350,000 Households From Getting Child Credit in Tax Rebate Checks

Selling Off the Core Business
It was quite a surprise to some this week to hear that GE is looking to sell their signature product line --appliances. But, they aren't the first company to move away from their early roots. Here are some companies that decided to cut their roots-the products that fed their early growth to delve into other areas. Companies have mixed results when they stray from their original visions, sometimes stumbling to adjust and others morphing into better creations. Among the companies are IBM which sold off their PC unit, Corning and Corningware, Kodak and 35MM Film, Goodrich and tires and more.
Selling off the core business - BusinessWeek
In the News: GE Confirms It Is Considering Strategic Options for Its Appliance Unit



The Incredible Shrinking Nest Egg
Millions of people are counting on their 401(k) and home equity to pay for retirement. But many of these millions are seeing smaller 401(k) gains, shrinking or flat home equity along with rising everyday costs like gas and food. What is the average American to do now?
The incredible shrinking nest egg - USATODAY.com

Utilities' Equal Payment Plans Have Some Flaws
Managing utility expenses by having equal payments throughout the year, or a balanced budget, sounds like a great idea at first -- the utility company charges you a set amount each month so your budget won't be bludgeoned by gigantic heating bills in winter or cooling costs in summer. It all balances out because your bills are averaged over the year using the previous year as a guide. But be careful. Equal monthly billing sometimes brings financial surprises, the very thing it's supposed to help you avoid.
Utilities' equal payment plans have some flaws- Bankrate.com

Millionaires in the Making: Meet the Wisneskis
Married since 2005, the Wisneskis and their 6-month-old daughter Ashlyn live in Oneida Wis., home to the Oneida Indian Nation. Nate, 27, is a member of the tribe and works for its newspaper. Nicki, 27, is a claims specialist. See how they are working their way toward millionaire status and if they can get there.
Millionaires in the Making Millionaires in the Making: The Wisneskis «

Dining Habits of Washington's Elite
Ever wondered how Condi Rice likes her steak? Or where Ted Kennedy goes for seafood? We reveal the dining habits of prominent politicians from the point of view of DC restaurant owners. Restaurant owners are now looking ahead to the new administration. There's speculation that newer spots might see a spike in business if Barack Obama wins the presidency and brings to town lots of fresh young faces drawn to hipper venues. John McCain, as usual, is a wild card. And many restaurant owners fondly look back on the Clinton years, when the commander in chief flitted about town both with and without his wife.
Power Dining in D.C. - Portfolio.com

Jason Giambi Has a Deep, Dark Secret
Deeper than his compulsion to sleep on the side of the bed nearest the door, and darker than his dream of growing up to be a heavy-metal musician. The deepest, darkest secret harbored by the New York Yankees first baseman is that whenever he is in a prolonged hitting funk, he wears a gold lamé, tiger-stripe thong under his uniform. "I only put it on when I'm desperate to get out of a big slump," he confides.
Yankees' Jason Giambi Struggles - Portfolio.com

Symbol Lookup
IndexesChangePrice
DJIA-37.418,243.33
NASDAQ-24.571,771.95
S&P 500-6.35890.07

Last updated: July 06, 2009: 12:07 PM

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