Archive for August 21st, 2008
Posted by: in Your Business
 When I read of the death of Stephanie Tubbs Jones, and the uncommon circumstances (there was clearly a mix-up in the news reports), all I could think of was the quote from Mark Twain, “rumors of my death have been greatly exaggerated.”
Since I was born in Ohio and spent my early adult years in Cleveland, I remembered Tubbs Jones, who was Cuyahoga county prosecutor in the early 1990s. Born in 1959, she was elected to Congress in 1998 and was serving her fourth term when she was felled by an aneurysm yesterday (August 20, 2008).
Tubbs Jones made history as the first African-American women elected to Congress in Ohio.  Her politics was determinedly Democratic, and she was a passionate supporter of Hillary Clinton. She was to have been a super-delegate at the Democratic National Convention next week.
Dennis Kucinich, who was the very young mayor of Cleveland when I lived there, was very close to Tubbs Jones, and he was visibly shaken about her death. Tubbs had many firsts in the House of Representatives to her credit, including being the first black woman to serve on the powerful Home Ways and Means Committee.
Tubbs Jones is probably ideal known for her vocal stand against certifying the election of President Bush in 2005, because of “questionable election results” in Ohio. Â She was also one of the few Representatives who voted in opposition to the Iraq war in 2003.
We need more people like Stephanie Tubbs Jones in Congress - people who aren’t afraid to talk their minds and stand up for what they believe. She will be missed.
Tags: Cleveland, Dennis Kucinich, hillary clinton, Stephanie Tubbs Jones
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Posted by: in Your Business
If you want some great ideas for businesses you can start as a Baby Boomer, or you just want to see what some other baby boomers are doing, check out StartupNation’s list/contest of “Boomers Back in Business.” Each business is profiled and you can vote for your favorite.
StartupNational also has a list of last year’s winners. Several of these businesses were interesting. For example:
- Last year’s winner was a guy who started a fishing business around the Ozarks in Missouri. Great idea! My husband’s cousin’s husband (got that?) has a similar business. He writes for fishing magazines. Best part about what he does is that he gets things like boats, fishing lures, rods, from manufacturers.
- Another boomer is in the office space business all around the country, with his company OfficeFinder. I haven’t figured out how he does it, but he has a cool website with lots of good calculators and a checklist for setting up your office.
- Number 10 was a guy who had a tour service in Maine. He takes people around in his car seeing the sights around Portland.
What I liked about these businesses was that they are practical, down-to-earth types of businesses that any baby boomer could start, rather than the high-tech stuff that you see in the big magazines like Entrepreneur and Inc. They are businesses that I might be interested in and able to start. If you get a good idea from reading about one of these businesses, let me know.
Tags: retirement businesses, small businesses for baby boomers, StartupNation
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Posted by: in Your Business
The “revisited” “50 things to do at 50″ contest will end on Sunday, August 24, at midnight (CDT). You have a few more days to enter.
Enter by commenting on this question “What is your advice for someone at 50 something? What should they do? Where should they go? What should they NOT do?” Comment to this post, as many times as you like, but each comment must be a new idea.
U.S. or Canadian entries posted by midnight (Central Daylight Time) on Sunday, August 24 will be eligible.
Those of you who posted from the contest in June already are automatically in the contest, no need to re-enter, unless you have a new thought.
Lots of good thoughts already, on my June 24 post, if you want to take a look. After the contest, I’ll do a re-cap of all the suggestions.
Tags: baby boomers, contest, Mindset
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Posted by: in Your Business
Interesting question. It was posed in a recent article in Entrepreneur (online). They suggest that you might be able to borrow against a 401-k to begin a business, at a reasonable interest rate. I’m not sure how that works, since you would have to borrow against (in many cases) investments that might lose value.
The other potential problem with borrowing against a 401-k is that if you lose your job, you would have to pay back the money immediately. So this strategy wouldn’t work if you’re thinking of quitting and going into your new business full-time.
If you cash in your 401-k, you might be able to get a break on interest (but not the penalty for early withdrawal), unless it is a “hardship” withdrawal. (Read this Q&A for more inforamtion.) But, if you stop working to start your business, your income will probably be lower, so it might make sense to take the hit now. But you really need to talk to your CPA before you do anything! Think about all the effects, including interest, penalties, and, most important, the effect of these actions on your future retirement income.
Tags: 401-k, baby boomers, financing a business startup, starting a business
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Is Your Private Jet Card Money Safe? - MarketWatch
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Filed under: Estates
NYC seems to be surviving the housing market’s slow decline superior than most cities. Case in point: This $80,000,000 condo at 15 Central Park West. Located on the 40th floor, the home, built in 2007, is 5,276 square feet and has unobstructed views over Central Park West and the Hudson River. Of the 9.5 rooms, there are 4 bedrooms and 5.5 baths, and the major rooms have 14-foot ceilings. There’s a library and a fireplace (only one?). The ground floor suite is 1,222 square feet with private street access that would work for owner staff offices. There’s also the usual building amenities: doorman, courtyard, health club, pool, and garage. As with most condos and with many homes in NYC, you pay way more than the buy price. This home requires monthly maintenance/CC of $5,425 and monthly real estate tax of $2,081. Too bad the pics only show you the view — I’d love to see the kitchen and bathrooms in a home like this!
[Thanks, Raeann]
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In all things success depends on previous preparation, and without such previous preparation there is sure to be failure.
Confucius
Image by Valentina Jori from sxc.hu
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India call money-(closing)-09.00-09.25 pct Aug 21 - Reuters India
PVS CLOSE : 09.40-09.60 The indicative call rates are contributions from ABN Amro, Andhra Bank, AXIS Bank, Bank of America, Bank of Baroda, Bank of India, Canara Bank, J P Morgan Chase, Citibank N.A., Corporation Bank, Calyon Bank, Indusind Bank
VC Investment in India Jumps 120% to $238 Million in 2Q08, Driven by - MSN MoneyCentral
Dow Jones VentureSource: Boosted by $70M Deal, Advertising/Marketing Accounts for 37% of Region’s Funding; Deal Flow Remains Steady While Second Rounds Increase BANGALORE , MUMBAI and NEW DELHI, India , Aug. 21 /PRNewswire/ — Venture capitalists
S.Lanka shares edge down to 3-wk low led by Dialog - Reuters India
COLOMBO, Aug 21 (Reuters) - Sri Lankan shares edged down in thin trade on Thursday to a new 3-week closing low, led by market heavyweight Dialog Telekom as investors sold shares anticipating a further fall after its thin profits in June quarter. The
HIV awareness drive kicks into high gear - Boston Globe
STOW - Ethan Zohn tried to putt the golf ball into the hole. “Can I kick it in?” said the Lexington native, who is better known for his soccer prowess. He played professional soccer on Cape Cod, in Hawaii, and in Zimbabwe before winning $1 million on
Fla. storm experts plead for more funding - Miami Herald
Sitting in the cross-hairs of hurricane alley — and fresh from experiencing Tropical Storm Fay — Florida stands to gain the most from a spike in money for research through the National Hurricane Research Initiative Act, otherwise known as House
Lone Star to buy Germany’s IKB - CNN Money
FRANKFURT, Germany (AP) — German lender IKB Deutsche Industriebank AG, which has been badly hit by the U.S. subprime mortgage crisis, will be sold to U.S.-based private equity firm Lone Star Funds, the German company’s biggest shareholder said
Deals of the Day: Merrill Lynch’s Love Affair With Foreign Money - Wall Street Journal
Deals of the Day includes all the major news of the morning related to mergers and acquisitions and financing. For breaking deal news, turn to the WSJ’s Deals & Deal Makers page, or click here to automatically sign up for Deals Alert emails. Good
Obama outspends McCain in July by 5-3 ratio - Boston Globe
WASHINGTON— After tightening his expenditures in June, Barack Obama spent far more freely in July, cutting into his cash reserves while mounting an advertising campaign against Republican presidential rival John McCain. The Illinois Democrat raised
Ticket bureau probed after music fans let down - Reuters UK
LONDON (Reuters) - Authorities are investigating a booking agency after hundreds of music fans complained they were let down when their tickets failed to arrive for last weekend’s V Festival. SOS Master Tickets is believed to have sold up to 800
3 charged in Huntington Station prostitution case - Newsday
Two pimps and a prostitute were arrested at a Huntington Station home Wednesday night after an investigation and surveillance by Second Precinct officers, police said. Henry Monzanarez, 27, of 67 East 3rd St., Huntington Station, and Jaime Garcia
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Posted by: in Your Business
Do you’ve any albums in the basement or attic? Do you still have a turntable? Well, dust that thing off because it looks like vinyl records are making a comeback. A couple of guys in Los Angeles are making vinyl records again. Just a few, but they’re large sellers.
And only a few selected albums. I knew I shouldn’t have sold all those Mama’s and Papa’s and Kingston Trio and Neil Diamond albums in that garage sale!
They state everything comes back around again - good example here. There must be a business idea in there somewhere.
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Filed under: Estates, Celebrity Shopping
 Another huge spender joins the celebrity foreclosure follies. This time it’s Roc-A-Fella Records company co-founder Damon Dash and his wife, fashion designer Rachel Roy. The high-profile pair could lose two of their Manhattan apartments. Eastern Savings Bank states the couple owe $7.3 million on the properties and were supposed to make hefty monthly payments of $78,500 but haven’t done so since January. Dash has a $100,000 federal tax lien on the properties and reportedly owes the city of New York $2 million in back taxes. Damon Dash is allegedly has a $50 million fortune amassed from his hip-hop empire.
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