Wednesday, December 18

Month: October 2014

Online Lenders are Changing the Small Business Lending Market for the Better
Business

Online Lenders are Changing the Small Business Lending Market for the Better

While banks are still the leader in providing outside capital for small businesses, there have always been alternative forms of loan capital available, including credit unions, Community Development Financial Institutions (CDFIs), merchant cash advances, equipment leasing, and factoring products. This segment of the market has always been small compared to the $700 billion in small business bank credit assets. But Forbes discovered that since the onset of the financial crisis, and particularly during the economic recovery, there has been significant growth in innovative, online alternative funding for small businesses. There has been a 175% growth in the outstanding portfolio balance of online lenders each year, compared to a 3% decline in the traditional banking sector. As they grow, t...
Woman Allegedly Steals Car from Auto Repair Shop, then Returns to Use the Bathroom
Local

Woman Allegedly Steals Car from Auto Repair Shop, then Returns to Use the Bathroom

A bizarre car theft saga played out in an auto repair shop in Bainbridge Island, WA last week, when a woman allegedly took another person's car from a local auto repair shop and tried to pay the bill for its repairs with counterfeit money. Oddly, that's the most normal thing about the case. According to employees at the shop on Olympic Drive, Cristina Javon Chavez, 38, walked into the lobby on Wednesday and took a pair of car keys from the counter. An employee stopped her when she tried to leave, at which point she claimed she was picking up a car for the owner, a 25-year-old Bainbridge Island woman. When Chavez claimed the owner of the 1998 Nissan Maxima was her daughter, the employee pointed out that she didn't look old enough to be the owner's mother. Allegedly, Chavez then tried to...
Warren Buffett Sees Hope for Detroit in Midst of Bankruptcy Trial
Local

Warren Buffett Sees Hope for Detroit in Midst of Bankruptcy Trial

Last week Warren Buffett brought a little bit of hope to the citizens of Detroit, declaring that he believes the city is going to be better off after recently declaring bankruptcy, reported Fortune Magazine. While the city of Detroit recently reached the end of the line in terms of financial stability, Buffet asserted that it can look forward to more new jobs as soon as five years down the road. While the city is just wrapping up the second week of its bankruptcy trial, the process actually began over a year ago. Detroit has been in a long downward spiral for years, ever since the auto industry began its decline. The city has always had strong ties to the auto industry, and when automobile manufacturers hit a rough patch, people started to leave Detroit in search of new opportunities. The...
Murder of Realtor Highlights Need for Regular Safety Precautions in Industry
Business

Murder of Realtor Highlights Need for Regular Safety Precautions in Industry

The kidnapping and murder of Arkansas Realtor Beverly Carter has highlighted an ever-present fact for real estate agents: that meeting a prospective buyer in an empty home is potentially an extremely dangerous situation. Carter, 49, disappeared Sept. 25 from a house she was showing just outside Little Rock. Her body was found Sept. 30 in a shallow grave. Aaron Lewis, 33, has been arrested and charged with the crime. Authorities believe that he was a stranger to Carter. “We've just gotten lax,” Karen Crowson, former president of the Arkansas Realtors Association, told CNN regarding safety measures for showing houses. Crowson, who worked with Carter, said this comes as a bleak wake-up call. “We live in the South and tend to think everybody's a good person. We're not, by nature, suspicious...
Moroccan Argan Oil: The New All-Purpose Oil for Body and Beauty?
Lifestyle

Moroccan Argan Oil: The New All-Purpose Oil for Body and Beauty?

Oils have a bad reputation, and adjectives like "oily" are a negative when it comes to skin. But one nutritionist aims to prove that oils are actually good for the skin. Marlene Watson-Tara spoke with Wewomen.com on the benefits of several different types of oil, including Moroccan argan oil, which is known for its health and beauty advantages. Oils such as argan oil, walnut oil, avocado oil and coconut oil, said Watson-Tara, are known as good fats that are monounsaturated and polyunsaturated and contain essential fatty acids. These types of fats differ from the bad fats, she explained, which are from trans, saturated and interesterified fats. These good oil could help reduce cholesterol and blood pressure and prevent inflammatory diseases when they are consumed. One of the most advant...
Why Detroit Drivers Pay the Most for Their Auto Insurance
Local

Why Detroit Drivers Pay the Most for Their Auto Insurance

America's car-making capital is also the capital of something else -- high auto insurance rates. According to a September 14 USA Today article, drivers in Detroit pay 165% more than the national average rate of car insurance, a Bankrate Insurance report recently discovered. The second-highest car insurance rates in the country can be found in New York City -- but drivers in the Big Apple still pay a fraction of what Motor City motorists pay, as New York auto insurance rates are only around 36% more than the national average. Miami came in third, where residents pay 34% more than the average American driver. Meanwhile, the lowest car insurance rates can be found in Charlotte, N.C., Cleveland and Pittsburgh, USA Todayreports. “Factors that would be taken into consideration would be the a...
Annuity Sales Are the Highest They’ve Been in Three Years, According to IRI
Business

Annuity Sales Are the Highest They’ve Been in Three Years, According to IRI

This month, The Insured Retirement Institute (IRI) cited data reported by Beacon Research and Morningstar Inc. to announce that second-quarter 2014 sales of annuities had hit their highest levels in three years. Overall annuity sales were driven as high as 59.9 billion in the second quarter, thanks to heightened consumer demand for guaranteed income and protection, especially in fixed annuities. According to the IRI, this number has risen by 9.9% since the same time last year. A 6.8% rise in overall annuity sales was recorded in the first quarter alone. Fixed annuity sales increased 7.6% over the first quarter and 41.6% over the past year to draw in $24.3 billion in the second quarter. Fixed index annuities were the top seller, hitting a quarterly record of $12.9 million in the second q...
Electronic Medical Record Company Denies Clinic Access to Records Over Unpaid Bills
Business

Electronic Medical Record Company Denies Clinic Access to Records Over Unpaid Bills

The improving state of technology in the healthcare industry is usually seen as a positive factor, one that greatly increases a physician’s capacity to heal and help the sick. But what happens when that technology suddenly disappears or becomes inaccessible? As one tiny medical practice in northern Maine found out, the answer is almost a complete cessation of function -- and severe risk to their patients. In July, Full Circle Health Care was denied access to their online medical records after the vendor for their electronic storage system, CompuGroup, blocked their service over a billing dispute. These records included the medical histories of 4,000 patients, making it impossible for nurses and physicians to check necessary information, such as diabetes records, blood pressure logs, aller...
New York City Council Raises Housing Fines for Negligent Landlords
Local

New York City Council Raises Housing Fines for Negligent Landlords

The Big Apple recently passed legislation that created harsher punishments for "bad apple" landlords. Landlord harassment has been an ongoing issue in New York City, and tenants who choose to fight back are often deterred be lengthy legal processes and road blocks. However, the City Council has taken another step towards prosecuting egregious landlords. New legislation was recently passed that doubles the maximum fine for landlords who are found to have harassed their tenants. Additionally, a public list of offenders will be posted on the city's Department of Housing Preservation and Development website, for all to view. Under the new law, the maximum fines for landlords who are found guilty of harassing tenants have increased from $5000 per unit to a cool $10,000. For repeat offenders, ...
Hotels Looking to Renovate Now Have a New Source for Inspiration: Online Reviews
Business

Hotels Looking to Renovate Now Have a New Source for Inspiration: Online Reviews

When it comes to making major renovations, hotels are looking to a source other than interior decorators these days. Now it's all about online review websites to guide new hotel furniture installations and improvements to the overall visit. Hotels in New York City are becoming more savvy when it comes to monitoring review sites such as TripAdvisor.com and Yelp.com, and booking sites like Hotels.com. Because customers are more likely to write their criticisms online than tell a manager, these websites have given hotel owners a new way to improve their services. Complaints on these websites can range from preferences that owners can't do much about, like the hotel's location, to other, more manageable issues, most commonly including water pressure in the shower, slow WiFi, uncomfortable be...