Business and Finance Guide

Posted on Monday, 8th February 2010 by Admin

TOKYO (AP) — Toyota says it is recalling about 437,000 Prius and other hybrid vehicles worldwide to fix brake problems – the latest in a string of embarrassing safety lapses at the world’s largest automaker.

“I don’t see Toyota as an infallible company that never makes mistakes,” President Akio Toyoda said at a press conference Tuesday in Tokyo. “We will face up to the facts and correct the problem, putting customers’ safety and convenience first.”

The recall is the latest blow to Toyota Motor Corp., which is in the midst of recalling more than 7 million vehicles worldwide because of problems with floor mats, which can trap gas pedals, and faulty gas pedals that are slow to return to the idle position. The 2010 Prius wasn’t part of those recalls.

There have been about 200 complaints in Japan and the U.S.

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Tags: Hybrid, Hybrid Models
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Posted on Monday, 8th February 2010 by Admin

You won’t see this headline splashed on the news and magazines, but it’s true.  In the fourth quarter of 2009 SBA 7(a) lending was up 100% from the fourth quarter of 2008.  Although we are comparing this to a time when the economy appeared to have the floor drop out from under it, it’s still something to celebrate.

We can make numbers look anyway we want.  Politicians are the best at manipulating.  They love to twist the numbers to provide the data they want to back up their claims.  We could have changed the headline from “Small Business Lending up 100%,” to “Small Business Lending down 300% from 2005 levels.”  I like 100% better.

The SBA 7(a) loan programs include the community express loans and micro loans in addition to other loan programs for larger businesses.  Of the top 10 lenders in the 7(a) programs the average loan size was $462,409.  One of the top 10 SBA 7(a) lenders average loan size was $158,366 (Zions Bank in Salt Lake City, UT).

If you are looking for a small business loan in 2010 a great avenue is the 7(a) loan program.  However, I would encourage you to make sure you go to a bank that is doing some substantial lending with these programs first.

Here is the latest data for the top lenders from the fourth quarter of 2009:

1.       Wells Fargo Bank, Minneapolis, MN

2.       Excel National Bank, Beverly Hills, CA

3.       Live Oak Bank, Wilmington, NC

4.       JPM Organ Chase Bank, New York, NY

5.       U.S. Bank, Minneapolis, MN

6.       Compass Bank,

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Tags: 100
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Posted on Monday, 8th February 2010 by Admin

Whoever thought that economics could be fun?  Well, it IS fun when Stephen Dubner and Steven Levitt put their “freaky” spin on the myriad decisions and assumptions that we make.   I read the original “Freakonomics” and enjoyed it so much that I purchased “SuperFreakonomics” as soon as I saw it.

The reviews are mixed on “SuperFreakonomics: Global Cooling, Patriotic Prostitutes, and Why Suicide Bombers Should Buy Life Insurance”. There are

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Tags: Fun, Superfreakonimics Fun
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Posted on Sunday, 7th February 2010 by Admin

Kimball International had a profitable second quarter, though its electronics division fared better than its furniture division.

The Jasper, Ind.-based company reported net income of $1.9 million, or 5 cents per share, for the second quarter of its 2010 fiscal year, which ended Dec. 31.

That compares with net income of $8.2 million, or 22 cents per share, during the same period the previous year.

Net income included $2 million after-tax income from an antitrust class-action lawsuit settlement. The lawsuit alleged that sellers had illegally conspired to fix prices for electronics components purchased by Kimball. Net income also included $200,000 in after-tax restructuring expenses.

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Tags: Help Kimball, Kimball
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Posted on Friday, 5th February 2010 by Admin

Under attack over spiraling prices, Prime Minister Manmohan Singh today said the worst of food inflation is over and the situation will ease soon.
“The worst is over as far as food inflation is concerned. Read more…

Tags: Food Inflation, Manmohan
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