Avoid Small Business Bankruptcy

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Bankruptcy among small businesses in America is unfortunately a common occurrence. Approximately 40,000 small businesses go bankrupt every year. Most people who have opened their own businesses have put a lot on the line, risking all of their personal finances to succeed. So many become in debt after only being open for a few months. This happens quickly even when their business is flourishing. After long month or years of struggles, these businesses can no longer sustain themselves, forcing them to make a difficult decision, of whether or not to enter into bankruptcy.

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The Karate Levels Of Cash Purchases

What does ?KLLOCPQ? stand for? Why are lyrics to an '80s hair-band song in an article about paying with cash? How is money like a deer? These are all valid questions. You?ll find the answers in this excerpt from Jon Acuff?s book, Gazelles, Baby Steps and 37 Other Things Dave Ramsey Taught Me About Debt.

By Jon Acuff

Dave Ramsey likes cash. Not in a Scrooge McDuck, swim-around-in-the-vault-of-bling kind of way, but more in the ?shopping with cash is better? kind of way.

But if you grew up using a credit card or a check, it can be difficult sometimes to just jump into paying cash for everything you get. It feels different. It acts different. It causes different reactions when you pull it out.

So how do you do it? How do you know you?re doing it right? How do you know you?re really good at it?

Fortunately, I created a Karate-Like List of Cash Purchase Qualifications, or ?KLLOCPQ,? if you prefer. Based on the martial arts system of awarding belts as different levels of skill are attained, the KLLOCPQ lays out the different degrees of expertise you can acquire when it comes to shopping with cash.

White Belt - The Mention of Cash

When you?re a rookie, a Daniel san if I may make a much-anticipated Karate Kid reference, you're probably ready to start off your journey by simply telling the salesperson you have cash. But you?re not ready to flash it around like a Benjamin Franklin peacock.

Yellow Belt ? The Cash Flash

Saying you can pay in cash is one thing, but flashing it out? That?s a whole different level, my friend. That takes someone with a little more experience. The first thing you have to master is the fan of your money. If you pull out a bunch of sweaty, crumpled up $100 bills, the impact of your action is severely reduced. You need to pull it out with a single, fluid motion, then fan it out as through a David Copperfield bit of magic. That?s why it?s a yellow belt move.

Brown Belt ? Count It Out

A lot of people can pull money out in a dramatic fashion, but counting it out is a different beast altogether. You have to count it, so there?s math involved. You also have to do it with flair, so there?s drama involved. This is really where the sciences meet the arts. This is where form meets function. Go too fast, and each Benjamin won?t get to shine. Go too slow, and you?ll lose the salesperson?s focus. Pace it right, and you?ll get a great deal at that store.

Black Belt ? Put the Money Back in Your Pocket

The threat of the money disappearing is every bit as important as it first appearing. Sometimes, salespeople are like the lyrics of an '80s hair-band power ballad?they "don?t know what they?ve got 'til it?s gone.? And your job is to show them how quickly and easily that money can vanish. When you do the brown belt move and count it out, that money needs to be like a powerful buck, crashing through the woods. Boom, here it is! But when it?s time to put it away, that money needs to be like a frightened baby deer: shy, quick to jump away when it senses danger. Oh no, high prices, no discount, this money is about to bounce!

There?s a good chance that you will never see your money as a deer. I can understand that. I?m strange. But even so, don?t be afraid to have fun with your cash purchases.

Excerpted from Gazelles, Baby Steps and 37 Other Things Dave Ramsey Taught Me About Debt by Jon Acuff. Copyright 2010 by Lampo Licensing. Published by Lampo Press. Used with permission.

If you?ve ever wondered how many blue shirts Dave owns, why women make each other buy bridesmaid dresses, and how to baby-proof your house from 27-year-olds, you?ll love Jon Acuff?s brand-new gift book! Get it now!

Jon Acuff is the Wall Street Journal best-selling author of Quitter: Closing the Gap Between Your Day Job & Your Dream Job. He?s also the founder of stuffchristianslike.net and the author of the book Stuff Christians Like. His insight into everything from church, to advertising, to money, to life is as funny as it is true. In the last 12 years, he?s written branding for companies such as The Home Depot, Chick-fil-A, Staples, Bose and many others. He?s a contributor to CNN.com , speaks nationally on the subject of social media, and joined the Dave Ramsey team in 2010. He lives with his wife and two daughters in Nashville, Tennessee.

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Source: http://www.daveramsey.com/article/the-karate-levels-of-cash-purchases/lifeandmoney_budgeting

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KRAUTHAMMER: The Current Economy Should Be A "Body Blow" To Liberalism

How Divorce Can Affect A Bankruptcy

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Bankruptcy proceedings can be impacted in different ways depending on whether you file before or after a divorce. Filing for bankruptcy after a divorce can affect how debts and liabilities are divided. Understanding how the bankruptcy process can be affected by divorce can help couples decide the best way to proceed with a bankruptcy.

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Peter Lynch Would Appreciate This Chinese Small Cap

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Help yourself with the Fool's FREE and easy new watchlist service today.

Seek out the headquarters with the hope that if it's not stuck behind a bowling alley, then it will be located in some seedy neighborhood where financial analysts wouldn't want to be seen.
-- Peter Lynch, One Up on Wall Street

Peter Lynch knew a thing or two about companies that allocated their resources wisely. In his 13 years at the head of Fidelity's Magellan Fund, Lynch averaged a mind-boggling 29% return per year.  

Lynch loved visiting headquarters to look for things that others wouldn't. Instead of hoping for a pristine boardroom with a gourmet cafeteria, Lynch was much happier to see a few chairs around a table and Sue's Mystery Meat being served.

Why?

Lynch knew that every dime that a company spent on its headquarters was a dime that wasn't being reinvested in the actual infrastructure of the company. Rather than go for glitz, Lynch was much happier to see that money show up on an earnings statement.

What does this have to do with China?
Investing in China has recently seemed more like Russian roulette than smart asset allocation. Investors have become so wary of investing in China that amateur blog posts were all it took to sink the stocks of Yongye International (Nasdaq: YONG  ) and Gulf Resources (Nasdaq: GURE  ) .

And then you have the recent IPOs of the Facebook of China, Renren (NYSE: RENN  ) ; the McAfee of China, Qihoo 360 (NYSE: QIHU  ) ; and the Amazon of China, Dangdang (NYSE: DANG  ) . Though these stocks experienced a serious pop after their IPOs earlier this year, they are all down more than 30% since then.

With all this in mind, our Motley Fool Global Gains team travels the world to get investing information right from the horse's mouth. They recently returned from their trip to China with stories to tell about dozens of companies.

The one I'm going to focus on today -- Country Style Cooking (NYSE: CCSC  ) , which runs a chain of Szechuan-style fast-food restaurants -- reminded me the most of Lynch's advice.

A trip to headquarters
After walking away from his meeting with Country Style's management, Fool Sean Sun had several Lynch-like takeaways that were encouraging:

  • He was unable to find the office because it was in an old and unkempt-looking building that was hidden away to the side of a larger office tower (it was clean and tidy inside, though).
  • Frugality is part of the company's DNA, as it was started by a husband and wife who know a thing or two about getting by on a shoestring budget.
  • Even though institutional investors have encouraged the company to upgrade their headquarters, the company has refused, since it doesn't see it as a wise use of capital.

Clearly, if what our team saw was truly a fair view of the inner workings of this company, Country Style is nothing like some of their other small-cap brethren regularly accused of fraud.

A Foolish takeaway
With Yum! Brands' (NYSE: YUM  ) Kentucky Fried Chicken having a pretty good head-start on the fast-food industry in China, Country Style still has lots of work to do. I would go into more detail about Country Style, but to be honest, that wouldn't be fair to our paying members of Global Gains.

The team had lots to say about the visit, and you can have access to all of their reports from the trip completely free with a 30-day trial membership to Global Gains. Click here, and you can get started right away.

In the meantime, add Country Style Cooking to your watchlist to keep tabs on all of its latest news.

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Source: http://www.fool.com/investing/international/2011/07/06/peter-lynch-would-appreciate-this-chinese-small-ca.aspx

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Debt Consolidation - Use That Big Brain In Your Head For Best Results

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There are many theories on the best route to take for debt consolidation. Everybody's got an opinion. At the end of the day, none of the plans make any sense if you can't adhere to them. So the best plan may not be the best plan for you.

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Source: http://ezinearticles.com/6406510

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This Awesome Apple Patent Is Actually Going To Come To Fruition (AAPL)


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Here's another amazing Apple patent to whet your Friday whistle, but this one's actually going to come true.

Apple just filed a patent that would let users exchange data between Apple devices by swiping the onscreen media towards the other device.

Hypothetically, you could also swipe things towards your AppleTV to display them on screen (like the Wii U can do), or you could swipe a web page from your iPhone to your iPad to read it on a bigger screen (like the HP Pre 3 and TouchPad can do).

Each device would use its accelerometer, gyroscope, and perhaps even NFC hardware to determine which other device it will be communicating with. Cool sound effects (like a vaccuum sound) could provide indications that the transfer is taking place, according to the patent. Also, transfers will be animated, to look like the stuff you're moving is actually moving through the air.

So why is it going to happen?

It makes sense for Apple to expand the amount of ways iOS users can share content, and Apple is all about making things feel "natural." If anything, the patent could lead to an API developers could utilize for sharing inside of apps and games.

On the other hand, there's a chance it won't happen because Apple already has AirPlay in place. It could expand AirPlay to not just include AppleTV's, but to include other iOS devices in the vicinity. It wouldn't be as fun as swiping an image towards your friend, but it would work.

See below for an illustration of how it's going to work.

Don't Miss: Here's Everything We Know About Apple's Rumored TV Set

(Patently Apple via Gizmodo)

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Source: http://feedproxy.google.com/~r/businessinsider/~3/HxuACFAUTDs/this-awesome-apple-patent-is-actually-going-to-come-to-fruition-2011-7

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