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Koffiekamer« Terug naar discussie overzicht

2009/2010 : TOTAL economic MELTDOWN

6.165 Posts
Pagina: «« 1 ... 6 7 8 9 10 ... 309 »» | Laatste | Omlaag ↓
  1. Kaiser 10 september 2009 12:22
    Companies Rush to Sell Shares While They Can
    Published: Thursday, 10 Sep 2009
    By: Reuters

    North American companies are flocking to sell shares this week, signaling to some investors the U.S. stock market may be close to sputtering after a long rally.

    URL: www.cnbc.com/id/32772178/
  2. Kaiser 10 september 2009 12:25
    Foreclosures Up From Last Year; Remain Near Record Levels
    Posted By: Joseph Pisani
    CNBC.com
    10 Sep 2009

    Home foreclosures in August jumped 18 percent from a year ago, but decreased 0.47 from the previous month, according to a new report by RealtyTrac, an online marketplace for foreclosure properties.

    In all, 358,471 properties in the United States received foreclosure fillings in August, just slightly below July's record level of 360,149 properties.

    “The August report demonstrates that there is still an ample supply of properties filling the foreclosure pipeline even while the outflow of bank-owned REO [real estate owned] properties onto the resale market is being more carefully regulated,” said James J. Saccacio, chief executive officer of RealtyTrac, in a statement.

    RealtyTrac's data comes a day after the Treasury Department warned that millions more foreclosures were coming as a monthly report showed that just 12 percent of eligible homeowners had had their mortgages reworked, part of the current administration’s housing rescue plan.

    Michael Barr, the Treasury's assistant secretary for financial institutions, told a House Financial Services subcommittee Wednesday that even if the Home Affordable Modification Program is a success, "we should still expect millions of foreclosures."

    The states with the highest foreclosure rates remained little changed from the month before. Nevada again had the highest rate in the nation, with one in every 62 households receiving a foreclosure filling, which is defined as a default notice, bank repossession or auction sale notice.

    Florida had the second highest rate with one in 140 households receiving a filling, and California had the third highest with one in 144 households receiving a filling.

    URL: www.cnbc.com/id/32766035/

    en de real estate bom die de volgende meltdown zal veroorzaken... BNP PARIBAS zakt al dagen aan een stuk, die lopen vooruit en weten wat er komende is...
  3. Kaiser 10 september 2009 13:34
    Wealthy Families Face Bankruptcy on Real Estate Crash (Update1)

    By Jeff Plungis

    Sept. 9 (Bloomberg) -- Wealthy individuals’ Chapter 11 bankruptcy filings jumped 73 percent in the second quarter from a year earlier, according to the National Bankruptcy Research Center, a research firm in Burlingame, California.

    More individuals or families with at least $1,010,650 in secured debt and $336,900 unsecured are using Chapter 11 of the U.S. bankruptcy code typically associated with business reorganizations. Falling U.S. home prices leave them unable to refinance or sell properties when they drop below the value of the mortgage, said Joseph Baldi, a Chicago bankruptcy attorney.

    Chapter 11 is more expensive and time-consuming for debtors and creditors than a Chapter 7 liquidation of assets. Wealthier people filing for bankruptcy typically have large homes, two car payments and children in private schools, said Leslie Linfield, executive director of the Institute for Financial Literacy in Portland, Maine, a credit-counseling and research group.

    “You’re living on the edge, you’re juggling those financial balls,” Linfield said. “When one ball goes, they all fall down.”

    Listings of homes for sale worth $1 million or more increased 27.3 percent in July from October, according to Zillow.com, a Web site that tracks real estate transactions. The number of homes sold with a value between $1 million to $2 million fell 23 percent in July from a year earlier, according to the Chicago-based National Association of Realtors. There was a 21-month supply, up from 16 months last year.

    Expensive Real Estate

    Actor Stephen Baldwin sought voluntary Chapter 11 bankruptcy protection in July after lenders began foreclosure proceedings. Baldwin, 43, listed $1.1 million in assets and $2.3 million in debt in documents filed in U.S. Bankruptcy Court in White Plains, New York. His home is valued at $1.1 million and the banks sought to recover about $1.2 million in mortgage loans, according to court papers.

    “There are a lot of people with real estate, and they can’t afford it,” said Baldi, the Chicago attorney, who is scheduled to speak to the American Bankruptcy Institute on Chapter 11 next month. “They can’t make the payments, and they can’t sell the house.”

    About 4.3 percent of U.S. homes, or one in 25 properties, were in foreclosure in the second quarter, according to an Aug. 20 report from the Mortgage Bankers Association in Washington. That’s the most in three decades of data.

    Go to Zero

    “Real estate is an incredible thing on the downside,” said Jason Green, a bankruptcy attorney based in Washington. “Equities can only go to zero. Property can go well below zero,” because of expenses such as property taxes, insurance and maintenance on primary residences, vacation homes and investment properties.

    Congress amended the bankruptcy law in 2005, making it harder to file for Chapter 7, which allows debts to be completely discharged. Chapter 11 gives individuals time to make a plan to reorganize their finances.

    Approval for National Football League quarterback Michael Vick’s Chapter 11 plan took almost 14 months of legal wrangling with creditors who submitted more than $19 million in claims. His bankruptcy docket, beginning in July 2008, includes 795 entries for motions, requests for hearings and transcripts. The plan includes a promise to pay approximately $2 million to his legal team and to devote a portion of Vick’s future NFL earnings to pay creditors.

    The debt levels in the 2005 law prevent many higher-income people from filing Chapter 7, Green said.

    “They’re locked out of Chapter 7, because they make a lot of money, and it’s a disaster,” Green said. “They’re in a netherworld, just hanging out there.”

    Multiple Steps

    Unlike Chapter 7, which may be resolved in a single hearing, Chapter 11 takes multiple steps, all of which can be contested, said Stephen Kass, a New York tax and bankruptcy attorney.

    The process begins with the debtor’s request for court protection preventing lenders from seizing assets, Kass said. The plan to repay a portion of the debt during bankruptcy is also usually contested, he said.

    There are meetings with the U.S. Trustee, which oversees the case, the judge and creditors. When a debtor moves to sell an asset, a motion must be filed and is likely to be contested, Kass said. An operating report is prepared each month, including the debtor’s activities, remaining debts, income, projections for the future and negotiations with other creditors, Kass said.

    Chapter 7 cases may cost between $1,300 to $6,000 in legal fees, Kass said. Chapter 11 cases generally start at $15,000 and can easily grow to twice that amount.

    “It’s a lot of hearings, a lot of paperwork,” Kass said. “Chapter 11 is really geared for the big boys.”

    Credit Counseling

    Before filing for bankruptcy, all consumers must see an approved credit-counseling agency. An individual applying for Chapter 11 protection has 120 days to file a plan to repay a portion of debt, according to the Web site of the U.S. federal courts.

    Rebuilding credit after a bankruptcy may take as much as five years of good payment history, said Ken Lin, chief executive officer of CreditKarma.com, a San Francisco-based Web site that allows consumers to monitor their credit scores. A secured credit card, which requires an upfront deposit, is a good way to start, he said.

    Scores may actually improve because of the discharged debts, Lin said, but credit will still be difficult to get and will be more expensive, because most companies do a separate search for bankruptcies as part of their underwriting.

    ‘Penalty Period’

    “There will be a penalty period where you’ll be under extra scrutiny,” Lin said. “A consumer should be prepared to be declined a lot.”

    Bankruptcy may be used by some employers in hiring decisions. In the brokerage industry, the filing becomes part of the Financial Industry Regulatory Authority’s “BrokerCheck” report, which may affect an investor’s decision on working with that broker, said Finra spokesman Herb Perone.

    If consumers are using credit cards to pay utilities or groceries, it may be time to speak to a counselor, said Dianne Reichl, group manager at Greenpath Debt Solutions in Detroit. Other signs of trouble: taking numerous cash advances; paying one bill one month, another the next month; and falling behind on basic needs, such as housing and utilities.

    “We’re seeing people who historically never would consider they were having a problem seeking help,” said Mike Croxson, president of Care One Services, a credit-counseling company in Columbia, Maryland.

    To contact the reporter on this story: Jeff Plungis in Washington at jplungis@bloomberg.net.
    Last Updated: September 9, 2009 10:28 EDT

    als die hun geld al op is...
  4. Kaiser 10 september 2009 15:41
    Home Prices Could Fall by Another 25%: Whitney

    CNBC.com
    10 Sep 2009

    Home prices in the US could fall by another 25 percent because of high unemployment and another leg down will come for stocks, banking analyst Meredith Whitney told CNBC Thursday.

    "No bank underwrote a loan with 10 percent unemployment on the horizon," Whitney said. "I think there is no doubt that home prices will go down dramatically from here, it's just a question of when."

    Local governments and states are chronically under-funded and "most states are under water," adding to the problem of low private consumption, she said.

    "If you look at the drivers for unemployment I don't see that reversing very soon," Whitney said.

    If consumers were to decide to spend, "that would be a game-changer," but it would be an unnatural thing to do in a recession, she said.

    "A lot of themes are constant, which is the US consumer and the small business doesn't have any credit, credit is still contracting," Whitney said.

    Consumer debt and consumer credit have dropped according to the latest figures which also show that people have been spending more from their debit cards than from their credit cards.

    "Obviously that doesn't bode well for spending," Whitney said.
    # Click Here for the Interview

    She said another leg down was coming for stocks but that Goldman Sachs still has "gas in the tank" and she kept her 'buy' on its stock.

    "Goldman is taking a lot of the place that Lehman left," she said.

    But banks are not going to see their earnings rise too much from now on, she warned.

    "Banks are taking advantage of what the government is doing by artificially inflating asset prices so they can ride a steep yield curve and they're going to have a third quarter that reflects that," Whitney said.

    Their shares are unlikely to be uplifted by these results as it happened in mid-July, because then they were under-valued, she added.

    2009 CNBC.com

    URL: www.cnbc.com/id/32773345/
  5. Kaiser 10 september 2009 23:50
    Armoedepercentage in VS op recordhoogte

    * donderdag 10 september 2009
    * Bron: BELGA


    WASHINGTON - In 2008 bereikte het armoedepercentage in de VS het hoogste peil van de afgelopen elf jaar. Het aantal armen is er het voorbije jaar met 2,5 miljoen mensen gestegen naar 40 miljoen. Dat blijkt uit een bericht van de statistische federale dienst in Washington. Volgens de statistieken is iemand arm als men minder dan 50 procent van het gemiddelde inkomen verdient.

    Het gemiddelde inkomen van een Amerikaans huishouden is volgens het bericht het afgelopen jaar met 3,6 procent gedaald naar 50.303 dollar (35.297 euro). Een vierkoppige familie geldt als arm wanneer het inkomen minder dan 22.025 dollar is. Voor een alleenstaande ligt de grens op 10.991 dollar.

    Sinds december 2007 bevindt de VS zich in de zwaarste recessie sinds de crisis van de jaren dertig. De recessie heeft vooral het zuiden van de VS zwaar getroffen, in het noord-oosten was er nauwelijks sprake van een daling van het gemiddelde inkomen. Volgens het onderzoek hadden 46,3 miljoen mensen in 2008 geen ziekteverzekering. Dat betekent een toename van 600.000. (BEH)
  6. [verwijderd] 11 september 2009 13:31
    quote:

    HerrKaiser schreef:

    ;)

    De Nederlandse industrie komt maar niet op gang: omzet weer lager
    11-9-2009

    www.rtl.nl/components/financien/rtlz/...
    Zozo, en dat vindt jij dus grappig. Misschien moet je eens solliciteren bij RTLZ, zitten ze te springen om blaagjes zoals jij. Niemand kijkt overigens naar die amateuristische rampzender, maar dat is niet belangrijk.
6.165 Posts
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