Money Week Magazine

Man murder his fatther to get his job

2008-06-04T14:09:00.000-07:00

(Reuters) .An Indian man, frustrated at failing to find employment, ordered the murder of his father to get his government job, a day before the victim was to retire, police said on Tuesday.

The man, arrested from a village in the impoverished eastern Bihar state, had planned to claim his father's job on the grounds that he died while still at work, police officer Naresh Singh said.

The son had paid a relative about $2,500 to carry out the crime which was committed at the weekend but reported on Tuesday.

"He told us he would have got a government job on compassionate grounds had this murder remained a mystery," Singh said.

The victim worked as a low-ranking employee at a local office. (Writing by Krittivas Mukherjee; Editing by Valerie Lee)

Attention Investors ! Real-time stock available for free !

2008-06-04T00:41:00.000-07:00

Nasdaq OMX Group (NDAQ) on Monday began a six-month pilot program to provide real-time stock quotes for Nasdaq, New York Stock Exchange and American Exchange listings. CNBC, Google (GOOG), The Wall Street Journal Digital Network and Xignite are the four companies taking part in the pilot program.

The small investors will no longer have to wait 20 minutes to find out what stocks are doing as multiple financial websites launch free real-time quote services.

Last Wednesday, Yahoo (YHOO) launched real-time quotes on its financial site for NYSE- and Nasdaq-listed companies as well. Yahoo receives quotes from BATS Trading, not from an exchange operator.

Nasdaq OMX plans to launch a similar real-time quote service for its European exchanges later in the month, said Adena Friedman, Nasdaq OMX's executive vice president of global data products and corporate strategy.

In the past, real-time quotes were available, but often for a fee or through retail brokerages. Financial pages on sites like Yahoo and Google previously posted stock quotes that were delayed between 15 minutes and 20 minutes. Now, any investor with Internet access can look up real-time quotes.

(Read more)

Las Vegas-style mortgage fraud spreading across country

2008-06-03T06:04:00.000-07:00

LAS VEGAS — In the shadow of Sunrise Mountain, where Rolling Hills Drive turns into Gold Mine Drive, a plain two-story home sits unoccupied, like thousands of other houses here in southern Nevada.

Some of these empty homes have "for sale" signs. Others bear signs saying "foreclosure." Authorities say hundreds of them, including this one on Rolling Hills Drive, should have a different sign out front, one that reads "fraud."

Prosecutors contend this house was sold last year to a straw buyer as part of a sprawling mortgage fraud perpetrated by a husband-and-wife team involving 277 properties in greater Las Vegas.

Prosecutors have charged Eve Mazzarella, 30, and Steven Grimm, 45, with bank fraud, alleging the two caused banks to make more than $107 million in dubious loans and netted a profit of at least $15 million. Both defendants pleaded not guilty to the charges. A trial has been scheduled for October.

To the untrained eye, the size, scope and sophistication of the alleged scheme is noteworthy. But to the FBI in Las Vegas, the problem is the opposite: In recent years, there have been so many mortgage fraud cases, the bureau and local prosecutors have had to establish a special task force to combat the problem.

(Read more)

Buy or Rent? Whats The Best Decision Today?

2008-06-03T05:35:00.000-07:00

With house prices having fallen over the last two years and rents continuing to rise the decision became a much closer call. We would now have to spend only a little more each month for the privilege of owning.

But in the early years the case for renting has been simple enough. House prices rose so high in the first half of this decade that you could often get more for your money by renting. You could also avoid having a large part of your net worth tied up in a speculative bubble.

Renting involves one obvious, recurring cost that can never be recouped: the monthly rent check. Buying, on the other hand, involves multiple expenses, some of which aren’t so obvious. On top of closing costs, there are repairs, property taxes, mortgage principal and mortgage interest. (The mortgage-interest tax deduction reduces this last cost but doesn’t eliminate it.) When you own, you also lose the ability to invest your down payment elsewhere, like the stock market.

Of course, owning also brings benefits that have nothing to do with money. You can settle into your home, confident that no landlord will kick you out. You can repaint the walls and redo the kitchen. All else being equal, owning seems far preferable to renting.

For example a $400,000 two-bedroom condominiums and being rented for about $2,100 a month, which makes for a rent ratio of 16. Four-bedroom houses were selling for $700,000 and being rented for almost $4,000, which makes for a rent ratio of 15. No matter the price range, pretty much every apples-to-apples comparison produced a similar ratio. Historically, this is still a bit high. But it’s very different from where the market was just a couple of years ago.So spend only a little more each month for the privilege of owning.

Most of the time, the decision whether to rent or buy should be based above all on life circumstances. Do you expect to move again in a couple years? Or is there a good chance that you’re ready to settle in — and stop worrying about real estate for a while?

The housing bubble, unfortunately, forced a reconsideration of this standard, because houses became so overvalued. But they’re slowly coming back to reality, which means that buying has again started to make sense for more people.
nytimes.com

Monks started a $4.5 Million business

2008-06-02T13:13:00.000-07:00

By Morry Gash, AP

$117.95 for laser printer toner, $9.95 for free trade organic hot cocoa and $16.95 for fruit tarts.

The prayer for peace in your home? No charge.

LaserMonks Inc. sells everything from office and school supplies to gifts such as gourmet mustards and CDs of Gregorian chants. And the six monks of the Cistercian Abbey of Our Lady of Spring Bank always make sure to pray for you, too.

Don't let the size of the order fool you. Last year they sold $4.5 million worth of products and they're on target to hit that again this year. You wouldn't guess a multimillion-dollar business is housed on a quiet 600 acres in west-central Wisconsin. But that's the monk way. The sales are needed, they say, so they can survive and continue their religious works.

Plenty of religious orders are embracing new technologies and trends — like monks in Oregon who store and ship wines for wineries, and others who make goat's milk hand creams and soaps to pay for their ministries.

Many still cling to the usual — such as making fruitcakes and caramels — but their wares are getting more exposure thanks to inclusion on LaserMonks' websites, which sell items made by religious orders.

Father Bernard McCoy, 41, superior of the abbey about 180 miles northwest of Milwaukee — or "poster monk" as he likes to joke — is chief executive of LaserMonks. The business started small in autumn 2002, when his printer ran out of toner as he and the order were trying to think of new ways to make money. It dawned on him that if he bought in bulk, he could save and pass that along to others — and make some money for the order, too.

That first year they did $2,000 in sales, and the next year $150,000. Now, they offer 43,000 products to people and groups like schools and churches.

(Read more)

Find Out How You Can Promote Your Business Locally On The Internet

2008-06-02T12:14:00.000-07:00

Several local business owners want to promote their business through the Internet, however, they feel that it's too expensive and complex. Below are 2 easy ways to do this. This could cut your local advertising bills too.

Steps

Register and login to WikiMapia.org

Navigate to your local business location. Use the zoom controls on the left hand side of the web page and make sure if it's your location.

Click on 'Add place' button on the left top.

Resize the box which appears on the screen and place it exactly on your business location.

Fill in the form which appears on the screen with the correct information. Description to have your complete contact details and description about your business. The 'Tags' to have the keywords with which your customer would search your business type or the product or service you sell. If you are unsure, please type in the business type followed by 'in' and then your place name. Press save.

In the same way, Register and login to UncleLocal.org.

Click on 'Tell about your favorite merchant, product and service' button on the top. Select your country and place, if the place is not found, please type in your place name in the next field. You could also browse to your location, click on 'Tell about your favorite merchant, product and service' button on the top. You would get to a form. Fill in the correct information, if you do not have some information leave it blank. In the 'Keywords' field, describe your local business (the kind of business).

You could also include more information about your local business in the fields which come up when you click on 'Submit more information' on the same form.

It would be better if you copy and paste the URL on the address bar on top of your browser, where your location is shown on WikiMapia.org, to the field that says 'Business location map link' on Unclelocal.org's form.

Make sure that you have filled in the correct information in all the fields and then click on 'Save content'.

(Read more)

Home Business That Suits Your Lifestyle

2008-06-02T12:04:00.000-07:00

I found this intresting article on the internet . I hope you enjoy this and visit the page from where I founded. These steps will help you to choose what business you really want to be in.

Steps

Write down what you want to do in your life. Goals, places, people to see....
Write down at least ten topics that interest you. (e.g. golf, swimming, teaching, tax, NASA, flying,... anything)
For each of these 10 interests write down 3 ways to make money pursuing these interests. (e.g. for golf, You could sell golf gear. swimming; You could become a swimming coach. teaching; You could become a teacher in whatever you interest is. tax; You could start a small online business in helping people with tax. NASA; you could find out what NASA needs and sell it to them whether that be your skills, services, or products. Etc)
Speak to people who are already doing some of these business. Speak to them by ringing them up and asking for an interview. Everybody likes to be interviewed and I promise you they will be more than happy to talk to you and show you how they make money.
Choose the business that is holding your interest the most.
Write a business plan and discuss it to your business mentor. (if you don't have business mentor then you can always get in contact with one through online blogs; a good one is listed in the sources and citations page just blog a question and they will be more than happy to advise you on your plan whether privately or publicly.
Raise the capital.
Write out a daily action plan.
Take Massive Action...

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Find Out How to Hack a Coke Machine

2008-05-24T10:05:00.000-07:00

Want to dazzle your friends with your technical powers while checking out the profitability of a vending machine route? Read on. Most Coke machines built since the late 1990s can be hacked with a simple access code. Once you enter the code, you can find out all kinds of information about the machine's sales.

Please note that this article does not teach you how to steal drinks from drink machines. Stealing is, of course, illegal.

Steps

Find a machine that has an LED screen. The small screen will typically scroll a message such as "Ice Cold Cokes". If the machine's LED display simply displays the price, the steps below may not work.
Enter the access code by using the drink selection buttons. The default access code is 4, 2, 3, 1, but the buttons aren't numbered. They will either say nothing or have pictures of Coke, Diet Coke, Sprite, and other Coca-Cola products on them.
- If the buttons are in a column, button 1 is the top one. Button 2 is the second one from the top, and so on.
- If they are in a grid or other format, button 1 is the top left one. Button 2 is the one directly to the right of that, and so on.
Scroll through the menu to find out information about the machine. Once you enter the correct access code, the message on the LED screen will change. Typically it will say "EROR," but on some machines it may simply display a number. Use the buttons to navigate through the menu.
- Press button 1 at any time to return to the previous menu or to exit the menu to go back to normal mode.
- Press button 2 to scroll up through the selections.
- Press button 3 to scroll down through the selections.
- Press button 4 to select the displayed menu option.
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Source: www.wikihow.com

Profit from a Falling House Market

2008-05-24T09:53:00.000-07:00

Since the end of the second world war, the average British home has doubled in value every ten years – but that's not going to make you feel better if the market's on a down turn and you're watching thousands being rubbed off the value of your house. However, there are ways to profit from a falling property market and Videojug can show you how.

Steps

Buy really cheap. You can still make a profit in a falling market by property developing – the secret is to use the media panic to negotiate a really good bargain. If you think what you are buying is a bargain, then don't be afraid to offer the asking price straight away. However, understand that most real estate agents are taught that you will have three offers, so if it's a normal market, be prepared to offer a little bit below the asking price to start with if you want to get it. Go up a reasonable amount and then be prepared to make a small increase for your third offer. That's when they'll think that you're at your limit.

Show that you know your market. If you want to make your offer more attractive, you need to give the appearance of being well organised. Look for lots of information and demonstrate that you have done so, including your solicitor's information, financial details included and also information about properties in the surrounding area, such as sales prices for similar properties. This lets the real estate agent know that you're serious.

Add immediate value to a run-down property. Once you've bought your bargain, there are some simple ways to add real value. Focusing on fixtures and fittings will add instant appeal to a run-down home. Improve the areas that really do make a difference in the eyes of buyers and attract them:

- the kitchen - rip out the old kitchen and replace it; a lick of paint will not do - remember that women are the main purchasers of property and if you do not appeal to their likes, then you may lose a future sale;
- the bathroom - make it white, shiny, with a power shower and brand new accessories; and
- light fittings - this is the most cost effective way to spruce up a house is to replace the light fittings. Choose something that is very modern, and very trendy. It is the one thing that doesn't cost very much but it makes a massive difference to the whole look of the house.

Bet on the market. If you're worried that your house is falling in value, you can make a bit of money by betting on how much it will go down. You don't have to nip into you local betting agency to place this bet though; what you do need to do is to invest your money in an investment fund that pays out if the market drops below a certain level. This possibility is available in Britain; it may not be available in your country, so ask your financial adviser for advice
(Read more)

Make a Slow Fortune in Real Estate - Find Out How

2008-05-24T09:29:00.000-07:00

With interests rates so low and real-estate prices well off their peaks, now could be the best time to launch your real-estate investment career. In time, it could make you seriously rich ...

Steps

You can accelerate your LIFE SAVINGS PLAN by buying and holding income-producing real-estate.
Right now, it’s very simple:
STEP 1. If you don’t yet own your own home (but would like to) BUY one now and LOCK in the interest for 30 years.
Why?
Home prices are relatively cheap (if you think they will get cheaper then wait a little longer … if you’re not SURE they will get cheaper, buy now).
Money is cheap - mortgage rates are probably 2% lower than they will be by 2009 or 2010.
You want to keep buying that cheap money for as long as possible …
… but, only IF you are prepared to take the next step, which is to …
STEP 2. Assess the increased / excess equity (what your house is worth - what you still owe) in your house yearly and use that excess equity to buy another as soon as you can scrape up a reasonable deposit (20% if you are conservative).
STEP 3. Lock in the interest rates for 30 years; rent the property out; keep raising rents; reassess the value of all of your properties yearly.
STEP 4. Repeat until Rich!
Now, this will take 10 to 30 years … to accelerate: start that little (or big) side-business that you've been thinking of and use the excess cash-flow to buy more investment properties rather than Porsches!
Simple … and, you couldn’t be starting at a better time in history!

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How much money do you need to start your own business?

2008-05-24T03:33:00.000-07:00

Answer

It depends on your type of business and how quickly you plan to expand. You should sit down and write out how much your expected expenses will be for at least the next 24 months and how much you project to bring in as far as income on a monthly basis. There are several companies that can help you get started with funding your business. Try to Google "strong business credit", just like that in quotes.

Financing for a Small Business

Obviously this depends on the type of business - retail, service, consulting, etc., but as a former owner of two fairly successful book stores, I can't claim to have followed my own suggestions to others. I got lucky in both situations and "disproved" my own rules of thumb, which follow (for retail businesses only):

1. Determine the best location for the type of retail business by looking at other successful businesses of the same type.

2. If a street corner location is desired, note WHICH street corner other businesses of the same type occupy. Some corners are better than others, depending on the flow of day or night-time traffic, usually AFTER the traffic light in the direction of the main flow and very visible to passers-by. Follow the old rule of success in business: location, location, location.

3. Find the lowest possible rental space for the desired area and negotiate a short-term lease (6 months, if possible) because if your business fails before your lease is up, you will be liable for the balance of the term of the lease.

4. Determine, if possible, what kind of monthly sales other businesses of your type have. This can be in dollars or in product volume. Either figure will give you the needed information for determining your bottom line.

5. Determine what the monthly cost of utilities (if not provided in the lease) will be.

(Read more)

Top 20 Under 30 Internet Millionaires

2008-05-23T15:30:00.000-07:00

Top 20 Internet Millionaires (Annual Income) - All Under 30!

For all of your aspiring young entrepreneurs who are trying to make millions online, a list of the top 20 internet millionaires who are under 30 years of age.

Holding down the number one spot is Mark Zuckerberg from Facebook. He’s only 23 years old, has an annual turnover of $700 million, and is only getting started!

Here is the complete list:

Rank - Name - Company - Age - Annual Turnover

1 - Mark Zuckerberg - Facebook - 23 - $700 Million

2 - Andrew Gower - Runescape - 28 - $650 Million

3 - Blake Ross and David Hyatt - Mozilla - 22 - $120 Million

4 - Chad Hurley - Youtube - 30 - $85 Million

5 - Angelo Sotira - Deviant ART - 26 - $75 Million

6 - John Vechey - PopCap Games - 28 - $60 Million

7 - Alexander Levin - WordPress - 23 - $57 Million

8 - Alexander Levin - Image Shack - 23 - $56 Million

9 - Jake Nickell - Threadless - 28 - $50 Million

10 - Sean Belnick - Biz Chair - 20 - $42 Million

11 - Kevin Rose - Digg - 30 - $31 Million

12 - Robert Small - MiniClips - 24 - $23 Million

13 - Ryan Block - Engadget - 25 - $20 Million

14 - Aodhan Cullen - Stat Counter - 24 - $18 Million

15 - Tom Fulp - Newgrounds - 29 - $15 Million

16 - Rishi Kacker and Matt Pauker - Voltage - 24 - $12 Million

17 - Markus Frind - Plenty Of Fish - 29 - $10 Million

18 - Catherine and David Cook - My Year Book - 17 & 19 - $10 Million

19 - Fredrik Neij - The Pirate Bay - 28 - $10 Million

20 - DAVID LEVICH - Iced Out Gear - 25 - $10 Million

Buy Stocks - Find out how

2008-05-22T06:41:00.000-07:00

Buying stocks is not difficult, but you'll need a few days lead time if you haven't done it before!

On the other hand making money consistently from buying stock is very difficult - the fact that most managed professional funds do not beat the index, tells you that even professionals dont find this easy. So take everything you read with a grain of salt.

Steps

Do nothing until you have chosen a system, rules for buying and rules for selling. So read widely and study. Watch the market and then paper trade ( that is pretending on paper you bought the stocks!) : prove you can make money at stock speculation before you ever part with a single dime. Once money is in your account, the temptation is too high to spend without careful thought.
Decide on a system. And then decide on the best vehicle to trade. If stock speculation, not long term investment is what you are after, maybe contracts for difference , spreadbetting or binary betting could be a better way - depending on local laws and tax rules - and how quickly you intend to get in and out of the market. Investigate all of the options.
Then if you have decided on trading raw stocks. Sign up with a stock broker on their website. A broker is registered with one or more "stock exchanges" (e.g. NYSE, NASDAQ, etc.) to execute stock trades on your behalf within that exchange's market.
Send the broker an initial deposit of funds. (Your broker needs this money to purchase your stocks.) The usual minimum is $2000. But can be as little as $500.00. Some websites don't require a deposit at all.
Your broker must report your stock trades to the IRS. You will need to fill out the required forms and mail them back to the broker, possibly even before they will allow you to make your first trade. (Your broker will send you the forms.)
Select your stock, notifying your broker of the company's "symbol" (a 3-4-letter code), the price you're willing to pay per share, and the length of time for which your offer will be valid.

(Read more)

How to Avoid Investment Trading System Scams

2008-05-22T06:39:00.000-07:00

Everybody, it seems, has an investment trading system these days. There's so much baloney in the trading system marketplace that it makes you want to follow Mark Twain's advice about how to double your money: "fold it over once and put it back in your pocket." How do you separate the few legitimate investment trading systems from the scamsters? Based on research and experience, here are the "Top 11 most common ways to spot trading system scams".

Steps

Think Often, they will start "improving" the system, or stop using it altogether. Especially for beginners it is a big help to gain confidence in the system if there is a winning percentage of 65% or more.
Avoid "hypothetical" trading systems - systems that have only been backtested, never actually traded in the market Insiders, like the proverbial "Them", as in "They say…" This is almost always a sign that nonsense is being peddled.
Know that there are very few secrets. One popular website sells a very costly manual on a technique they claim has "never before been revealed to the public." If you read their marketing hype, you'd think that they regularly rubbed shoulders with the biggest movers and shakers in the market. What they don't bother to mention is the name of one single real person who uses this "powerful, foolproof system for generating consistently high profits in the seven figures annually." Let's face it: if there even was such a thing as a "never before revealed secret system the pros use", why is it being revealed now, to you, by this seller?

(Read more)

Top 10 Ways to Become a Millionaire

2008-05-22T06:31:00.000-07:00

Regardless of where you go in the world, money is the basic universal measurement for being "rich", or becoming a millionaire. And it seems like everyone wants to be a millionaire these days.

Open a savings account: Having a savings account is one of the many ways where you can set your money up to work for you. Your initial deposit of money grows whether or not you make additional deposits by interest. Learn the different types of accounts, including accounts like IRAs.
Buy stocks: If you are gung-ho for individual stocks, you should buy stocks of the companies whose products and services you use or purchase. One of the best ways to invest in individual stocks is through an investment club; you may want to consider forming one with your friends.
Buy mutual funds: Mutual funds are really an investment of other investments. When you own a mutual fund, you actually own the securities (stocks, bonds, cash) within the mutual. With mutual funds, you are pooling your money with other investors and diversifying your investment.
Audition for game shows: Game shows earn their money by the audience, not the contestants.
Find a "system" that has been proven to make people become millionaires. The top five producers of millionaires today are: technology - internet marketing, direct sales, home-based business, product distribution, and investments (stocks, bonds, real estate investment / development).
Find a mentor who has walked the walk and seek advice. Surround yourself with already-made millionaires.
Joining the Military is a great way to make money if your willing to spend the time and effort. Four years of enlisted duty, then four years of going to a Military Academy (College (High-Quality (Free))), and then ten years of officer duty will get you about $720,000. Every year you work for the military after that will get you around $55,000 a year with great benefits. If you are afraid of battle, join the Navy or the Airforce, as you are exremely unlikely to be involved in a major battle.
Earn Income. Clearly the more money you make the faster you can reach that milestone but that doesn’t mean your average Joe with a median income can’t obtain millionaire status. The current median income in this country ranges between $35,000-$60,000 depending on which state you live in. Better yet, get married so you have dual incomes. The wonderful thing about having dual incomes is that even with two people in the household your income may double but your expenses typically don’t.
If you don’t earn even an average income, all is not lost. It is up to you to do something about it. A negative attitude about your job or your earning potential won’t change anything. Be proactive and make the decision to improve your situation. It is your life so take control and realize that things don’t change overnight. It may take a few years of slow growth before you reach the point where you want to be, but you can do it if you try. Remember, short of inheriting money from a relative or winning the lottery you will need income to become a millionaire.
Live Within Your Means. Ok, so you have income but now what? It doesn’t matter how much money you make if you spend it all or spend even more than you make. It might be nice to eat out at nice restaurants every night or to always be on the cutting edge of designer fashion but, this will only make you feel like a millionaire. This doesn’t mean you have to live a miserable and miserly lifestyle but you simply need to live reasonably.

Oil climbs to record above $135

2008-05-22T06:11:00.000-07:00

Oil prices rose above $135 a barrel for the first time Thursday, with supply worries, global demand and an ever weakening U.S dollar driving crude futures up.

The world's top energy watchdog is preparing a sharp downward revision of its oil-supply forecast, according to a report in The Wall Street Journal.

Light, sweet crude for July delivery rose as high as $135.09 before falling back slightly. By midday in Europe, the contract stood at $134.37 a barrel in electronic trade on the New York Mercantile Exchange, up $1.20 on Wednesday's close of $133.17.

That settlement price, up $4.19 on Tuesday's close, marked NYMEX crude's largest one-day price advance since March 26.

Meanwhile, July Brent crude on the ICE Futures exchange in London also reached a new record of $135.13 a barrel Thursday. By midday in Europe, it had retreated to $134.35, a gain of $1.65 on its Wednesday close.

"Simply put, this is a market you cannot afford to be short in," said U.S. analyst and trader Stephen Schork about Brent futures in his Schork Report.

With gas and oil prices setting new records nearly every day, analysts have begun to wonder what might stop prices from rising. There are technical signals in the futures market, including price differences between near-term and longer-term contracts, that crude may soon fall. But with demand for oil growing in the developing world, and little end in sight to supply problems in producing countries such as Nigeria, few analysts are willing to call an end to crude's rally.

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