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GE Capital Retail Finance Celebrates 80 Years of Consumer Financing

Dedicate thousands of volunteer hours annually and more than a million dollars in charitable giving to support financial education and counseling for individuals and small businesses, as well as champion services that lead to self-sufficiency in low-to-moderate income households. About GE Capital’s Retail Finance business GE Capitals Retail Finance business is among the countrys most successful retail lenders, with 80 years of experience in consumer financing. The business, with its lending entity GE Capital Retail Bank, provides customized credit programs to retailers and consumers in the United States and Canada that help drive sales. More information can be found at http://www.gogecapital.com and twitter.com/GoGECapital . GE Capital is one of the worlds largest providers of credit.

Siemens appoints finance chief Kaeser as CEO

Siemens’ profit margin fell to 6.5 percent from 9.2 percent a year earlier, while revenues slipped 2 percent to 19.25 billion euros. But the company reported a 19 percent rise in new orders to 21.14 billion euros, thanks largely to a major British train contract. Siemens shares were 0.8 percent lower at 80.01 euros in Frankfurt trading after the announcements. Loescher, a company outsider hired in 2007 from drug company Merck & Co., Inc., helped Siemens move past a major corruption scandal. Siemens agreed to pay more than $1 billion in fines in Germany and the United States, for, among other charges, allegedly giving customers payments to secure business, especially internationally.

Finance moots 49% multi-brand retail FDI by automatic route

It was also not part of the suggestions put forward by the Arvind Mayaram committee. Sources, however, said the panel headed by Economic Affairs Secretary Mayaram had recommended that the FDI limit be raised to 49 per cent in almost all sectors through the automatic route, with 74 per cent FDI in multi-brand retail trading by the government approval route. The finance minstrys proposal could get support from the Planning Commission, an official said. The planning commission is yet to submit its response to the DIPP proposal.


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Personal finance lessons from the Detroit bankruptcy

Detroits bankruptcy is a sad phenomenon, Hamm writes, but its something that all of us can learn from. Carlos Osorio/AP/File Enlarge If youve been following the news this week, youve heard that the city of Detroit has filed for bankruptcy . The city is holding $11.5 billion in unsecured debt, the repayment of which has the city in such a deep financial hole that they cant keep up with the basic maintenance of the facilities they already have. Trent Hamm The Simple Dollar is a blog for those of us who need both cents and sense: people fighting debt and bad spending habits while building a financially secure future and still affording a latte or two.

Serbia’s largest party agrees to finance minister’s ouster

Credit: Reuters/Djordje Kojadinovic BELGRADE | Wed Jul 31, 2013 6:16am EDT BELGRADE (Reuters) – The largest party in Serbia’s government signaled its acceptance of Finance Minister Mladjan Dinkic’s dismissal, saying on Wednesday it would continue to work with the Socialists in the ruling coalition. Prime Minister Ivica Dacic, a Socialist, proposed on Tuesday that the government move on without Dinkic and his United Regions of Serbia (URS) party, a junior partner in the coalition. Deputy Prime Minister, Aleksandar Vucic, who heads the largest party, the Serbian Progressive Party (SNS), said his party presidency had accepted Dacic’s proposal at a meeting on Wednesday morning. Without the 16 seats of Dinkic’s URS, the coalition would still retain a slim majority in parliament.

Finance moots 49% multi-brand retail FDI by automatic route

On July 24, commenting on the cabinet note moved by the Department of Industrial Policy & Promotion (DIPP), the finance ministry proposed that FDI up to 49 per cent is allowed on automatic route. The DIPP has declined to tweak the cabinet proposal saying this was not on the agenda of the July 16 meeting chaired by the Prime Minister, at which fresh FDI limits were decided. It was also not part of the suggestions put forward by the Arvind Mayaram committee. Sources, however, said the panel headed by Economic Affairs Secretary Mayaram had recommended that the FDI limit be raised to 49 per cent in almost all sectors through the automatic route, with 74 per cent FDI in multi-brand retail trading by the government approval route. The finance minstrys proposal could get support from the Planning Commission, an official said.


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Serbian PM moves to oust finance minister, risking election

Research and Markets: Global Trade Review (GTR) – 2013 Edition: The Trade Finance Market’s Biggest Single Source of Contacts in the Industry

On Sunday, Dinkic offered to give up his economy portfolio as part of a cabinet reshuffle, but retain the position of finance minister. Dacic said the offer fell short. “Economy and finance are the most important issues for the future of Serbia and we need an additional impetus here,” he said. “We have no time for mistakes.” In response, Dinkic accused Dacic of “pure politicking” to cement his own position as premier.

The beatings will continue until Sonys stock price improves Its always fun to read Dan Loebs letters to investors at his hedge fund Third Point, especially when hes in activist mode. Commenting on Sonys entertainment division, the fund says it remains poorly managed, with a famously bloated corporate structure, generous perk packages, high salaries for underperforming senior executives, and marketing budgets that do not seem to be in line with any sense of return on capital invested. Give Loeb credit for trying to do something about it. Third Point bought its Sony stake earlier this year. Theres never a shortage of Big Four accounting-firm scandals This time its Deloitte & Touches U.K.

The framers on campaign finance law — via Tumblr

GTR is written by specialist journalists around the globe. GTR covers all aspects of trade finance, including forfaiting, factoring, export finance, pre-export business, structured commodity finance, structured export finance and ECA finance, countertrade, infrastructure finance and development, securitization of trade finance products, legal issues and regulations surrounding trade, political risk insurance and trade credit insurance, and sector reports (oil and gas, mining and metals, power and energy, telecoms), technological advancements in trade and supply chain finance, collateral management and security over goods. Subscribers have access to the magazine itself, a weekly news email service and the GTR Directory – the trade finance market’s biggest single source of contacts in the industry. – Do you often require simple and straightforward information, news and leads on emerging markets trading risk?

Weil’s Views on Finance

The problem is that the lawsuits underlying premise argues that the only permissible target of federal campaign laws is individual corruption the sort of quid pro quo campaign activities that barrel across the line separating political donations from bribery. But, as Harvards Lessig observed, our nations founders viewed both individuals (Aaron Burr is corrupt) and institutions (Parliament is corrupt) as capable of succumbing to improper influence that would harm the nation. So Lessig had two of his research assistants scour online databases of framing texts to gather every use of the term corruption. The team coded the different usages to show whether the term was used in reference to an individual or an institution, and then whether it was used with regard to quid pro quo corruption or an improper dependence kind of corruption. (The latter means that individuals or institutions are dependent on special interests or on public or private money basically, dependent on anything or anyone other than the voters, on which officials and public institutions are properly dependent.) Lessigs results are striking.


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Democrats File Complaint Over Stanzione’s Campaign Finance Report

Posted by Taylor K. Vecsey (Editor) , July 29, 2013 at 07:32 PM Dominick Stazione Credit: Michael Heller Loading… Next Previous Slideshow Download While Democrats question Republican Town Councilman Dominick Stanzione’s latest campaign finance reporting, Stanzione said it’s a mistake he is already taking steps to correct. The Friends of Dominick Stanizione, the councilman’s re-election campaign committee, filed a finance report by the July 11 cutoff that claimed ” no activity ” for the past six months.

Weil’s Views on Finance

Both Roth and Apple were elected to City Council in 1995. In 2003, Apple ran for finance director. He was most recently re-elected to the post in 2011. In addition to his city work, Apple was an accounting professor at the University of Akron. Roth said that unless someone files petitions to run for the seat by next week, Tax Administrator Patricia Bertsch will serve in the position until a new finance director is elected in 2014.

Finance Director Jerry Apple Battled Cancer, But Kept Working

Even if the bribery claims were all false, it wouldnt be a shock to find out that a huge Western company copped a plea to mollify the Chinese authorities and make sure its business there didnt suffer major interruptions. The beatings will continue until Sonys stock price improves Its always fun to read Dan Loebs letters to investors at his hedge fund Third Point, especially when hes in activist mode. Commenting on Sonys entertainment division, the fund says it remains poorly managed, with a famously bloated corporate structure, generous perk packages, high salaries for underperforming senior executives, and marketing budgets that do not seem to be in line with any sense of return on capital invested. Give Loeb credit for trying to do something about it. Third Point bought its Sony stake earlier this year.


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D.C.’s campaign finance laws need reforming

Council has unfortunately failed to act on the proposal, which was submitted by Mayor Vincent C. Gray (D) last year. Mr. Browns 2010 campaign for chairman was the subject of an audit, released this month by the campaign finance office, that showed the same problems that afflicted the earlier campaign, albeit on a smaller scale.

Greece may avoid worrisome budget gap, economic risk abates

He expected more interest when a new tender is launched to privatise Greece’s state natural gas company DEPA after the first effort failed in June. “YOU DON’T WANT TO KNOW” A respected economist who became finance minister a year ago, Stournaras has been widely credited for spearheading Greece’s bumpy return to fiscal rigour after it nearly went bankrupt and crashed out of the euro zone last year. At the time, Greece was the euro zone’s favourite whipping boy, attacked by all sides for failing to keep pledges to reform and its seemingly unending funding needs, and Stournaras said his first few months in the job were also his toughest. “You don’t want to know what I heard when I first went to the Eurogroup – not only from (German finance minister Wolfgang) Schaeuble but from (Austria’s) Maria Fekter from other people as well,” said Stournaras, referring to the Eurogroup of euro zone finance ministers that signed off on aid for Athens.

GE Capital Retail Finance Celebrates 80 Years of Consumer Financing

Vecsey (Editor) , July 29, 2013 at 07:32 PM Dominick Stazione Credit: Michael Heller Loading… Next Previous Slideshow Download While Democrats question Republican Town Councilman Dominick Stanzione’s latest campaign finance reporting, Stanzione said it’s a mistake he is already taking steps to correct. The Friends of Dominick Stanizione, the councilman’s re-election campaign committee, filed a finance report by the July 11 cutoff that claimed ” no activity ” for the past six months. Stanzione was the treasurer for the committee.

Business Finance Store President to Speak at Beauty, Brains, Business Convention this Aug. 15-17

The Business Finance Store is a business financing and consulting firm that offers customized Business Financial Solutions. Seasoned professionals offer assistance in a variety of financial solutions to help small businesses succeed such as: Business Financial Solutions, Legal Solutions, and Accounting Solutions. The staff at The Business Finance Store understands that starting and growing a business is an exciting time. They keep it exciting by taking care of some of the most difficult aspects, by providing legal advice, helping with vital responsibilities like accounting & bookkeeping, and by obtaining business finance. They can quickly and easily guide entrepreneurs through many different complicated processes and put them on the path to success.

Democrats File Complaint Over Stanzione’s Campaign Finance…

Beyond the eight decades of consumer financing expertise, we bring innovative solutions to our clients, including deep industry knowledge, marketing and analytic capabilities, and tools that help them enhance sales and service. As it has for the past 80 years, GE Capitals Retail Finance business continues to: Provide billions of dollars in consumer financing through major retailers and more than 200,000 small- and mid-sized businesses throughout the United States. Serve business owners across nearly 20 industries, including apparel, appliances and consumer electronics, art, automotive aftermarket, home furnishings, elective healthcare, floor covering, home improvement, jewelry, music, online retailers, outdoor power equipment, powersports, sporting goods, and many others. Support clients with proprietary online technology such as BusinessCenter, which includes service, marketing and sales tools, as well as Learning Center, providing businesses with access to comprehensive training for their teams on consumer financing. Expertise and comprehensive account support is provided in the areas of customer service, collections, payment processing, sales and client development, information technology, risk, marketing, finance and quality.


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Big finance is strangling innovation

Weve still got plenty of innovation left in us, but we have to change our priorities and make the financial economy subordinate to the productive economy. That would go a long way toward getting Wall Street off our backs and allowing America to once again be a place where energetic people thrive and work together to produce great things. **At a recent conference in Rio de Janeiro, Financial Institutions for Innovation and Development, sponsored by the Ford Foundation Initiative on Reforming Global Finance, the Multidisciplinary Institute for Development and Strategies (MINDS) and the Brazilian Development Bank (BNDES), economists discussed innovation and how financial markets, business enterprises and the state interact with and invest in the process of creating and producing useful things. Lynn Parramore is an AlterNet senior editor.

Democrats File Complaint Over Stanzione’s Campaign Finance…

puzzled some Toyota insiders because of his lack of experience within the finance arm. At the time, even Borst admitted he was a bit at sea. But his background in strategic planning helped meld an organization that has become a financial powerhouse. In 2000, Toyota Motor Corp.’s 16 separate finance arms worldwide were absorbed by a new global finance unit called Toyota Financial Services Corp.

Borst will retire as Toyota finance chief

“Even if the ads were donated, they would have to be reported as contributions in-kind and the donors name disclosed.” By phone Monday afternoon, Stanzione acknowledged an issue with his latest finance report and said he paid for the ads with personal funds as a loan to his campaign, he said. A professional treasurer, whom he recently hired, with the firm Campaigns Unlimited brought the problem to his attention about a week ago, he said, after reviewing the report. The firm is making the appropriate adjustments, he said. “My bad. I’m not a campaign finance professional that’s why I now have a professional handling the committee’s filings and finances,” Stanzione said, adding that he is no longer the treasurer.

Simon Hamilton appointed new finance minister

Mr Robinson said Mr Hamilton had demonstrated his “tremendous capability and hardworking mind-set” in various positions both inside and outside the assembly. Mr Hamilton, who was elected to the assembly in 2007. said he was “honoured to be appointed” and looking forward to the challenges ahead. “I have been privileged to serve as Sammy’s assembly private secretary (APS) since 2011 during which time I have garnered invaluable experience and guidance from him,” he said.


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Serb Leaders to Discuss If Finance Chief Stays in Cabinet

Old-Fashioned Regulators Miss What’s New in Finance

The coalition has promised to continue the Balkan countrys fiscal consolidation, resume talks with the International Monetary Fund and the World Bank and integrate faster into the European Union. Dacic has been trying to boost the economy, which has fallen into recession twice in the past three years, leaving a quarter of the nations workforce without jobs. The budget deficit is expected to top at least 6 percent of gross domestic product this year, down from 7.3 percent in 2012. The current-account deficit will reach 8.7 percent of GDP according to IMF forecasts. Monetary policy makers are balancing the need to shore up Serbia s $37 billion economy against fighting inflation and shielding the dinar from market turmoil.

Depositors know this, which is why bank runs are apt to happen — or were, in the days before deposit insurance . Insurance prevents bank runs, but encourages risky lending because depositors no longer care whether their bank is prudent or reckless. Once you insure deposits, therefore, you also must regulate banks more strictly (setting rules for bank capital, among other things). Thats the old model for systemic safety in finance: deposit insurance plus bank regulation. Beyond Regulation A different kind of run brought the financial system down in 2008.

RPT-Fitch Updates Criteria for Servicing Continuity Risk in Structured Finance

The update does not contain any material changes and will not have any rating impact on existing transactions. No ratings will be reviewed as a result of the criteria update. The report entitled ‘Criteria for Servicing Continuity Risk in Structured Finance’ is available at http://www.fitchratings.com and replaces the previous report dated 10 August 2012. The report is available at http://www.fitchratings.com or by clicking on the link below.