Word: crediteers
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Could the credit crunch get you out of paying that pesky divorce settlement? That's the teaser before London's Court of Appeal after Brian Myerson, a fund manager in the city, asked a panel of judges Wednesday to nix the $15.2 million agreement reached last March with his ex-wife Ingrid. The reason: turmoil in the markets has effectively wiped out his share of the couple's spoils. A ruling in Myerson's favor could see a tide of wealthy divorcees heading back to court in search of sweeter deals...
...third option, a "claim of rights credit," is most beneficial, he said. It allows victims to claim a credit on their 2008 tax return for all taxes paid on Ponzi income going back to the first investment year. The catch, according to Tipograph, is that "it's never been tested in regard to Ponzis." This option is typically used in insider-trading cases, when tax monies need to be returned. (See 25 people to blame for the financial crisis...
...close to 25%. At its core, the information is a considerable warning that the ability of Americans to become consumers again is still severely compromised. It is another clear sign that the balance sheets of large financial firms which have exposure to mortgages or any type of consumer credit are likely to be faced with more losses, even if they are unexpected. That seems possible since all of the bank losses of the last two years were unanticipated, at least according to the managements at the companies. (See pictures of unemployment in Cleveland...
...sales have dropped, the relationship between the manufacturers and dealers has become extremely contentious. The dealers blame the auto companies for a lack of good products and access to consumer credit. The car companies want the dealers to buy more inventory to give them much-needed cash flow. Dealers are going out of business and fairly soon Chrysler and GM may be gone...
...experimenting with my own recipes, that there weren’t a lot of places in Boston to purchase things that were fresh-made.” Cupcakes have enjoyed an upsurge in popularity in recent years, with stores like New York City’s Magnolia Bakery drawing credit for sparking the craze over the portable confections. The trend has also caught on in other major cities, like Los Angeles. Closer to home, Kickass Cupcakes in Somerville’s Davis Square opened in 2007, and many Boston bakeries offer gourmet twists on the childhood favorite. Forrester said that...