Gold Erases Last Summer?s Gains But Don?t Count It Out

Things have to get very much worse again to revive the lesson of 2007-2009. The lesson that banks do go bankrupt. Debt investments do evaporate. Central banks will stop at nothing to stem a credit deflation.

Source: http://www.forbes.com/sites/greatspeculations/2012/05/16/gold-erases-last-summers-gains-but-dont-count-it-out/

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Is ESPN Pushing Florida State To The Big 12 Conference?

Florida State, Jenn Sterger

Former NFL linebacker Derrick Brooks (and former FSU board of trustees member) appeared to confirm rumors that Florida State is at least mulling a move from the ACC to the Big 12 (via Orlando Sentinel).

But why would Florida State make the jump to the Big 12?

In a memo obtained by ESPN, FSU president Eric Barron outlined the pros and cons of making the move, highlighting the larger, but unequal television revenue in the Big 12 (Texas takes home home more revenue thanks to their own Longhorn Network).

But the real reason might be a lesson in how geography is viewed from the ESPN offices in Bristol, Connecticut. And how to best maximize the ratings in Florida, which is home to three of the 20 largest television markets (Miami, Orlando, Tampa).

ESPN just inked a new 15-year, $3.6 billion television contract with the ACC, which currently has two schools in Florida (FSU, Miami). ESPN is also currently negotiating a new deal with the Big 12, which has no schools in Florida.

So if FSU were to move to the Big 12, it would give both conferences a foothold in the key state, and the Big 12 would likely gain more of a ratings boost than the ACC would lose.

Would Florida State be better off in the Big 12? Maybe. Would the Big 12 be better off with Florida State? Probably.

But in the end, the biggest winner would be ESPN.

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Source: http://feedproxy.google.com/~r/businessinsider/~3/dl5m3-802uU/is-espn-pushing-florida-state-to-the-big-12-conference-2012-5

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3 Under-the-Radar Midstream Companies

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U.S. domestic oil and gas production is higher than it has been in decades, and as a result the midstream industry is booming as well. But headline hogs such as Kinder Morgan and TransCanada aren't doing all the work.

Across the country there are hundreds of unheralded midstream outfits that are contributing as well. These companies may be potential buyout targets, destined for incredible growth, or they may be about to go bust -- and they are worth a little research. With that in mind, today we begin to get to know three under-the-radar pipeline companies.

Copano Energy (Nasdaq: CPNO  )
The Houston-based midstream company recently announced it is adding 400 million cubic feet of cryogenic processing capacity at its Houston Central complex. The upgrade will cost the company about $190 million, but it will bring total plant capacity to 1 billion cubic feet per day and allow Copano to take advantage of increased liquids production in the Eagle Ford Shale.

While most midstream companies operate as master limited partnerships, Copano differentiates itself by operating as a limited liability company. There is still extra paperwork come tax time, but the important difference here is that unit holders don't share distributions with a general partner. The structure gives unit holders a meaningful vote and allows for greater distribution growth over time.

DCP Midstream Partners (NYSE: DPM  )
DCP is the 50-50 joint venture between Spectra Energy (NYSE: SE  ) and ConocoPhillips (NYSE: COP  ) . The JV has been active lately, acquiring a 10% ownership interest in Enterprise Products Partners' Texas Express Pipeline and signing an agreement with that company and Anadarko Petroleum to develop and construct the Front Range NGL pipeline connecting Colorado's Denver-Julesburg Basin to Carson County, Texas.

Both projects bring much-needed natural-gas liquids capacity to the market at a time when producers are focusing more and more on producing NGLs instead of dry gas. The Front Range pipeline will have capacity of 230,000 barrels per day and is expected to come online in the fourth quarter of 2013. The Texas Express pipeline has long-term shipper commitments between 232,000 and 252,000 barrels per day, including 20,000 BPD from DCP's own NGL affiliate. That project is expected to come online in the second quarter of next year.

Boardwalk Pipeline Partners (NYSE: BWP  )
Liquids are pushing Boardwalk's growth as well. In February the company announced it had secured commitments from Statoil and Talisman Energy for its new project in the booming Eagle Ford Shale. Boardwalk plans to increase its gathering system and build a cryogenic gas-processing plant. The projects will cost a total of $180 million and are expected to come online during the first quarter of next year.

In the meantime, Boardwalk is chugging right along, increasing first-quarter revenue year over year and outperforming analyst estimates on earnings per share.

Foolish takeaway
These three stocks don't capture the headlines the way other midstream companies do, but they could be a valuable addition to your portfolio. Using Internet tools like My Watchlist can help you stay informed and figure out which one is best for you.

The Steve Jobs Betrayal
You may already know that in the final year of his life, Jobs revealed a stunning betrayal ? and told his biographer, "I will spend my last dying breath... and every penny of Apple's $40 billion in the bank to right this wrong." What was it that made Jobs so irate ? and why could it make a few in-the-know investors some major profits over the coming months and years?

Enter your email address below to find out what made Jobs so enraged!

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Source: http://www.fool.com/investing/general/2012/05/16/3-under-the-radar-midstream-companies.aspx

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It's Never Too Late to Hope

By Jon Acuff

Debt talks trash.

It does. The closer you get to wrangling it into a manageable pay-off schedule and the closer you get to actually paying it off completely, the louder Debt gets. It will throw out excuse after excuse about why you shouldn?t be so worried about Financial Peace.

?Relax! What?s the panic for? Let?s just live our life. This is our time to enjoy ourselves. Charge it! You deserve it. Who wants to be one of those pencil-pushing budget nerds? Not me. Not you. Not us!?

Debt will continue to talk trash, and one of its favorite excuses is about timing. Debt loves to tell you, ?It?s too late to start.?

When you start reading Financial Peace or go to a live event, that slippery fiend called Debt will pipe up and tell you that you?re too late. ?If you were younger, sure, you could have gotten your money in order. But it?s too late now to start saving for retirement and worrying about the future. You?re in your 30s or 40s or 50s. Financial Peace is a young man?s game. Give up. Give up.?

This voice gets louder when you read some of the examples of people who have started saving. When you see a chapter where a fictional character started saving at 19 and by 32 had a bajillion dollars, Debt will get all fussy.

?See, Ben started saving when he was 19! You?re not 19! It won?t work. It will never work.?

But even though you might hear something like that, even though Debt might try to step up and complain about the timing of your transformation, there?s a simple truth you need to hold close:

?It?s never too late to start.?

It?s never too late to change your life. It?s never too late to lean in hard to a new budget or a long-term plan. It?s never too late to set things in motion for the generations after you. Randall Wallace, the screenwriter of the movie ?Braveheart,? started when he was 41. Colonel Sanders of Kentucky Fried Chicken, never sold any chicken until he was 67. Michelangelo painted the Sistine Chapel at age 78.

And the reason why it?s never too late is that this is how life works. You?d never say to someone who was running out of a burning house with a photo album clutched in their hands, ?Drop the album. You didn?t save the whole house, so it?s too late to save anything. Give it all up.?

You?d never tell someone who smoked for 10 years, ?It?s too late to stop, you should just keep doing what you are doing.? Not at all. You?d say, ?Start today! A new day, a new you can begin right here and right now. It?s never too late.?

Fictional Ben might have started saving at 19, and you might not be that age anymore. But don?t let an example of long-term saving convince you it?s too late. It?s not. That?s the beauty of hope.

It?s never too late to hope.

Read more from Jon Acuff by getting his book Stuff Christians Like!

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Source: http://www.daveramsey.com/article/its-never-too-late-to-hope/lifeandmoney_debt

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FORD: GM's Facebook Ads Don't Work Because GM Sucks -- Ours Work Fine

A funny comeback from Ford on the heels of news that GM is pulling its entire $10 million advertising campaign from Facebook...

GM said it was pulling its ads because they didn't work.

Ford said on Twitter that, if GM's ads didn't work, it's because GM didn't know what it was doing:

Ford Twitter

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Source: http://feedproxy.google.com/~r/businessinsider/~3/UytfuelO_24/ford-gms-facebook-ads-dont-work-because-gm-sucks-ours-work-fine-2012-5

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Why I Finally Bit The Bullet And Kissed My 13-Year-Old Clunker Goodbye

geo-prizmThis guest post from Joel Berry is part of the “reader stories” feature at Get Rich Slowly. Some stories contain general advice; others are examples of how a GRS reader achieved financial success or failure. These stories feature folks with all levels of financial maturity and income. Want submit your own reader story? Here’s how.

I’m writing this post as a follow up to my first post about why I drove a 13-year-old car. In that article, I set some goals for myself and came up with a plan to help me achieve those goals. Today I’m going to share where I succeeded — and where I failed.

My original goals were to:

  • Drive my 1995 Geo Prizm for four more years in order to save a large down payment for a newer car.
  • Put away $300 a month into a savings account for the down payment.
  • Spend $1000 or less per year in maintenance for the Geo.
  • Have $10,400 for a down payment on a new-to-me car.

How did I do? Let’s find out.

Goal #1: Keep My Car Another Four Years
At the time I wrote my last post, I’d already driven the Geo for 13 years. I had a choice to make:

  • Take out a loan for the value of a new car minus any money I could get by selling the Geo
  • Or, keep the car for a while longer while saving up more money to put down on the new car.

I came up with a plan to try to keep the Geo as long as it remained a reliable and safe car. I wanted to resist the temptation to purchase a new car and jump back into payments before I had to. All of my friends had purchased new cars and I was feeling a little pressure to keep up with them. I knew this was financially a bad move. I did not want to “keep up with the Joneses.” I wanted to buck the norm and not give into consumerism. I knew the longer I kept the car and remained payment free the better off I would be when I did purchase a new car.

So, did I keep the car for four more years? No, I kept the car for three instead of four years. Why?

My needs changed in the three years since I set that goal. My family grew and no longer fit in the car. When I originally set this goal, my children were smaller. They grew older, taller, and it was now uncomfortable for them to sit in the small back seat. When the car no longer met my needs, I knew it was time to change my plan. My needs changed and my goals needed to change with them.

Goal #2: Pay Less Than $1000 a Year on Maintenance
There was not a year of the three that I spent even close to the $1,000 I budgeted for maintenance.

This number was a worst-case-scenario number. If I was going over that number, I would have called it quits and gave up on the Geo. I averaged $400 a year on maintenance.

I consistently hear people say they need to get rid of their car because it is going to nickel-and-dime them to death. They get a new car out of fear, not because they truly have a need. The fear is the car would need a repair that would cost so much that it is better to sell it now and get a new car. I chose to ignore that fear and let the numbers dictate if I should keep the car or not.

Looking at the math, $400 a year and no payment works out to $33.34 a month that came out of my pocket to drive this car. I was okay with that. Other people might have chosen to sell the car. If I were to purchase another newer car, I feel the maintenance would be about the same. It might even be more because I would want to take better care of a newer car I was going to try to keep for a decade or so. I knew this car was going to be out of my life soon, so I had less to lose by not checking into every little squeak I heard.

People rarely take into account that the new car they buy might have problems as well. I have read many posts on the car forums about someone purchasing a brand new car and having nothing but trouble with it. Even though the repairs are covered under warranty, there’s a huge feeling of anger that they paid for a new car and it isn’t reliable. Most people end up selling the new car and take a huge loss just to be free of the troubled car.

Goal #3: Put $300 a Month into a Savings Account for a Newer Car
I set up a sub-account at ING Direct and had the money automatically withdrawn every month. Ipaid myself first to make sure the money was there before any other money was taken out to pay bills. This was easy to do; it only took a few clicks. The money being gone right away made it easier to meet this goal every month. When the money is not there to spend it made it easier for me to put off purchases until next week’s paycheck.

Goal #4: Save $10,400 for a Down Payment on Another Car
I missed this goal for two reasons. The first reason I brought on myself and the second was an unexpected life event.

The first reason I missed my goal was I sold the Geo one year early and missed out on that twelve months of savings. That’s $3600 that I gave up. Even though I was under budget with the maintenance costs, it wasn’t enough to offset the loss of those twelve months.

The second reason I didn’t meet this goal is we had a tough choice to make. One of my family members had a series of health problems that were getting worse and they lived very far away. We felt the need to take a trip to visit this person. The trip was something I needed to do; not going wasn’t an option.

We looked into all the alternatives. Credit card debt? I didn’t want to be paying for the trip on a card charging us 13% interest. 401(k) loan? I wasn’t willing to pull money out of my 401(k), pay the loan fee, and miss out on the potential returns the stock market could give us. ING account? The ING account was the only choice that made sense. After all, the ING account was only paying 0.8% interest at the time. But it would put me behind saving for a new car. That was a difficult thing for me to do.

We pulled the money out and went on the trip. We enjoyed spending time with family, saw things we would never have seen if we hadn’t taken the trip, and built lifelong memories. This is a choice I don’t regret at all. Money isn’t everything in life. I cherish my family and felt this was the right thing to do.

The Bottom Line
Three years ago, I set some goals for myself. I did my best to make a plan to help me meet those goals. As time went by my needs changed (needed a bigger car) and unexpected expenses came up (trip to see family). I feel good about how I did. I set some goals and stuck to them as much as made sense.

Over the 16 years I owned the Geo, twelve of those years were payment-free. My original payments were $250 a month. That extra $250 a month I that I didn’t have to spend on a car payment added up to $36,000 over the 12 years. If I subtract the overall maintenance I spent on this car over the full 16 years ($3400), it still leaves me with $32000. This number represents the amount of money I would have spent if I continued to have a car payment. I know many people who always have a car payment. I consider this a huge amount of money. This is the reason I chose to drive the car for so long.

In the end, I found a used car I wanted, put an ad on craigslist, and sold the Geo. After 16 years with this car, our family had outgrown it and was ready for another. Will I keep the new car for as long as I did the last one? That’s a question I can’t answer at this time. That depends on if this new car is as good as the last.

Life throws you curves; you have to bend with those curves. You have to take everything day by day and month by month. Your financial future is not set in stone. It is more like clay. Every decision you make and every curve life throws at you molds that clay. You need to re-evaluate your needs, wants, and limits every so often to make sure that clay is looking the way you want it to.

Am I the only one that decided to change the plans that I made in January of 2009? If you read J.D.’s note at the bottom of the original post he writes about his Ford Focus. He had a plan for that Focus, to drive it into the ground. Not long after that, J.D. bought a Mini-Cooper. His plans changed, and so did mine. I feel like I am in good company.

DON'T MISS: How to buy a used car without getting duped by the dealer >

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Source: http://feedproxy.google.com/~r/businessinsider/~3/-oAntsK5Oyo/why-i-finally-bit-the-bullet-and-kissed-my-16-year-old-clunker-goodbye-2012-5

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How To Sell Structured Settlement

How To Sell Structured Settlement If you’re asking yourself how to sell structured settlment monthly payments, so you can turn your payments into one lump sum instead of dripping the monthly payments in for the rest of your life, then do your research. You’ll want to find the best company offering the best quote.  That’s the bottom line right?  Don’t [...]

Source: http://www.legaldebthelponline.com/2012/05/13/how-to-sell-structured-settlement/

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