Consumer borrowing up, but credit card use falls (AP)

WASHINGTON ? Americans borrowed more in September to buy cars and attend college, but they charged less to their credit cards for a third straight month. The figures suggest that consumers are growing more cautious about taking on high-interest debt in a weak economy.

Total consumer borrowing rose by $7.4 billion in September, the Federal Reserve said Monday. In August, it had fallen by the most in 16 months.

The September increase reflected a 5.8 percent increase in borrowing in the category that includes car and student loans. But the category that covers credit card purchases dropped 1 percent after larger declines in July and August.

Credit card use has sunk nearly 19 percent since September 2008, the height of the financial crisis. For many consumers, adding debt with high interest rates is too risky when jobs are scarce, pay raises are few and unemployment has been stuck near 9 percent for more than two years.

"Households continue to prefer cash over credit as employment, income and wealth prospects remain feeble," said Gregory Daco, principal U.S. economist at IHS Global Insight.

The average annual percentage rate, or APR, on credit cards ticked up for variable-rate credit cards to 14.46 percent and was unchanged at 13.71 percent for fixed-rate credit cards, according Bankrate.com.

Auto loans are far cheaper. The average rate for a 48-month new-car loan was 5.31 percent last week.

The average rate for subsidized student loans was 4.5 percent last year, according to Student Loan Consolidator.com. Loans not subsidized by the federal government are capped at 6.8 percent through 2012.

Earlier this year, many economists worried the economy was at risk of slipping back into another recession. In August, the government said the economy grew at an annual rate of just 0.9 percent in the first half of the year, and Europe's debt crisis jolted financial markets.

Those fears have since eased. The economy grew at an annual rate of 2.5 percent in the July-September period, the government said, the best quarterly growth in a year. Consumer spending grew three times as fast as it had in the spring.

Still, growth would have to be nearly twice as high ? consistently ? to make a major dent in the unemployment rate, which has been stuck near 9 percent for more than two years.

And economists worry that the summer spending gains can't be sustained. Americans spent more in the July-September quarter even though they earned less. And they used their savings to make up the gap.

Troy Davig, an economist at Barclays Capital, said he expects consumers to borrow more in the coming months as the economy improves.

"Barring any major shocks, I think we will see gradual improvement," Davig said. "But we are not expecting anything dramatic in terms of credit growth."

Without more jobs and higher pay, consumers may be forced to cut back on spending. That would slow growth. Consumer spending accounts for 70 percent of economic activity.

On Friday, the government said the unemployment rate dipped to 9 percent in October from 9.1 percent, where it had been stuck for three months. The nation added 80,000 jobs, barely enough to keep pace with population growth.

Households began borrowing less and saving more when the country fell into a recession and unemployment surged. While economists believe Americans will gradually increase borrowing in coming months, they do not expect consumers to load up on debt the way they did during the housing boom.

Americans felt wealthier then and were more willing to take on added debt because of the soaring value of their homes.

The Federal Reserve's borrowing report covers auto loans, student loans and credit cards. It excludes mortgages, home equity loans and other loans tied to real estate.

___

AP Economics Writer Derek Kravitz contributed to this report.

Source: http://us.rd.yahoo.com/dailynews/rss/economy/*http%3A//news.yahoo.com/s/ap/20111107/ap_on_bi_go_ec_fi/us_consumer_credit

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Talking Communications with Farrell Kramer Podcast Releases ...

Posted by admin on November 6th, 2011 at 03:13am

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Talking Communications with Farrell Kramer Podcast Releases Episode 10 ? Sold! The Modern Press Release










Closter, NJ (PRWEB) August 15, 2006 –-

Talking Communications with Farrell Kramer (http://www.talkingcommunications.com), a podcast focusing on all aspects of communications, has released Episode 10 –- Sold! The Modern Press Release.

Episode 10 –- Sold! The Modern Press Release examines the recent million acquisition of online press release distributor PRWeb by Vocus, Inc., a PR software provider. The heads of both companies, PRWeb Founder and President David McInnis and Vocus President and CEO Rick Rudman, explain what the deal means for the two organizations, their customers, and communicators in general.

?The growing importance of the press release has been hard to miss by those active in the communications world. Press releases can now be distributed online with multimedia file attachments, optimized for today’s all-important search engines, and made available with tagging, trackbacks and a variety of other Web 2.0 features. Vocus’ acquisition of PRWeb, a leader in these areas, underscores the importance of the modern press release in the overall marketing and communications mix. The heads of both companies talk to us about the transaction, why they did it, and what to expect from them down the road,? Kramer said.

Talking Communications with Farrell Kramer was launched in early 2006 by Farrell Kramer, founder and president of Farrell Kramer Communications, LLC (http://www.farrellkramer.com), a public relations firm built upon the belief that the power of ideas rests at the center of all communications. Prior to his work in public relations, Kramer was an investigative reporter with The Associated Press and a financial reporter for Investor?s Business Daily.

Episode 10 –- Sold! The Modern Press Release has a run time of 30 minutes and 46 seconds. It is available directly on the Talking Communications with Farrell Kramer site (http://www.talkingcommunications.com), via RSS and e-mail subscriptions there, and can be found on iTunes, Podcast Alley and many other podcast directories.

About Talking Communications with Farrell Kramer:

Talking Communications with Farrell Kramer (http://www.talkingcommunications.com) is a podcast focusing on all aspects of communications. It is an interview show hosted by Farrell Kramer, founder and president of Farrell Kramer Communications, LLC (http://www.farrellkramer.com), a public relations firm built upon the belief that the power of ideas rests at the center of all communications.

Contact:

Sharon Bially

Farrell Kramer Communications, LLC

(774) 270-1293

# # #





Attachments



Vocus?Copyright 1997-, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.

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Source: http://autobloginformation.com/talking-communications-with-farrell-kramer-podcast-releases-episode-10-sold-the-modern-press-release/

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Developing countries want G20 to refocus on world (AP)

CANNES, France ? This week's G-20 summit was dominated by Europe's debt crisis, but developing countries want the grouping of major economies to refocus on a bigger global agenda that includes creating jobs, improving farming and fighting climate change.

China, Brazil and other rising powers won a bigger voice in U.S.- and European-dominated global affairs following the 2008 financial crisis. But flare-ups in the eurozone have distracted leaders from what they say should be efforts to reform global finance and improve life in poorer societies.

Now, as Mexico succeeds France as leader of the G-20, developing countries are pushing for more attention to long-term changes aimed at making the global economic system more equitable, increasing investment in Africa, making farming more productive and stimulating investment and trade.

"The key issue is not to allow the G-20 to be overwhelmed by the crisis in Europe," said Mac Maharaj, a spokesman for South African President Jacob Zuma. Instead, "it should attempt to come up with a plan that incorporates bringing about growth in developing countries."

The two-day G-20 summit in this Mediterranean resort was dominated by rapid-fire developments in debt-ridden Greece's chaotic politics and talk of how to strengthen the International Monetary Fund, both to play a bigger role in a European bailout and to help shaky economies elsewhere.

A joint communique issued Friday promised to reform financial industries to prevent a repeat of excesses that have prompted protests; invest in research to improve farm productivity; reform energy subsidies that encourage waste; and create jobs for young people.

But the financial crisis might mean governments are not paying enough attention to the long term, said Daniel Schwanen, an economist at Canada's Center for International Governance Innovation, a think tank.

"Where is the employment agenda? Where is the growth agenda?" he said. "We've been sidetracked by the emergency debt issues."

A G-20 panel produced a list of priorities ahead of the Cannes meeting that included improving conditions to attract investment in infrastructure to Africa, increasing food security and regulating capital flows.

Mexico is expected to make employment and the needs of poorer countries a priority during its yearlong tenure as the G-20 president.

"There's a recognition that lack of jobs for young people brings social challenges and a decline in social cohesion," said South Africa's finance minister, Pravin Gordhan. "The public around the world has been making clear that these are challenges that require urgent attention."

The G-20 emerged as a major forum after the 2008 financial crisis battered the United States and Europe, which turned to China, India and other fast-growing developing economies for help in reviving global growth. It has given midsize economies such as Turkey, Indonesia and Mexico a seat at the top policymaking table for the first time.

"It is developing countries over the next five to 10 years that have the best prospects of ensuring the world grows at the required level," said Gordhan.

Still, the G-20 has yet to replace the more influential Group of Eight that groups together the United States, Japan and Europe's biggest economies.

On Thursday, Chinese President Hu Jintao called for a still larger role for emerging countries in "a more equal and balanced global partnership."

"We should further unleash the development potential of emerging markets and developing countries and boost the economic growth of developing countries," he said in a speech to other G20 leaders, according to a transcript released by the Chinese government.

Source: http://us.rd.yahoo.com/dailynews/rss/europe/*http%3A//news.yahoo.com/s/ap/20111105/ap_on_re_eu/g20_future

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Airline traveler uses Craigslist to track down laptop thief (Digital Trends)

Baggage_Claim

When?Ambre Boroughs checked her laptop bag before getting on a Southwest flight at the?Chicago Midway International Airport, she was likely unaware that many airlines strongly?recommend taking the laptop was a carry-on during the flight. Unfortunately, she was missing her brand new HP 9000 laptop after searching an empty laptop bag that came off the?conveyor belt in Charleston, South Carolina according to NBC Chicago. After asking a Southwest representative for help,?Boroughs was informed that the company wasn?t responsible for the loss of?checked computers. A further TSA investigation showed video footage of the laptop?still in the case when traveling through the security checkpoint.

hp_9000While somewhat demoralized,?Boroughs was determined to track down the laptop thief. After waking up the following morning,?Boroughs started searching the?Chicago section of Craigslist for the term ?HP 9000? and continued to refresh the search every 30 minutes. After approximately 12 hours, she located a post for a HP 9000 laptop that displayed evidence of her ownership.?Boroughs recognized a logo sticker on the laptop for a small punk rock group that?s based out of South Carolina which also happened to be tattooed on her wrist. She texted and called the person that created the post to find out if the laptop was still available and stumbled on the fact that this person had multiple models for sale.

Boroughs?immediately?alerted the?Chicago police about the laptop post. The police went to the location described in the post and arrested three people that had?eleven additional stolen laptops in their possession as well as a variety of portable?electronics. While the alleged thieves didn?t work for Southwest, at least one of them had access to luggage moving from the Southwest terminal to the airplane. After the police returned the HP 9000 laptop to?Boroughs, she discovered that the thief had completely wiped all her personal data from the computer including documents and photos.

This article was originally posted on Digital Trends

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LifeLock CEO Has Had Identity Stolen 13 Times

Source: http://us.rd.yahoo.com/dailynews/rss/personaltech/*http%3A//news.yahoo.com/s/digitaltrends/20111104/tc_digitaltrends/airlinetravelerusescraigslisttotrackdownlaptopthief

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AIG reports steeper 3Q net loss

(AP) ? Insurer AIG has posted a steeper third-quarter loss as declining interest rates and weak stock markets reduced the value of its holdings while it paid out storm losses.

American International Group Inc. reported on Thursday a loss of $4.1 billion, or $2.16 per share, compared with a loss of $2.52 billion, or $18.53 per share a year ago.

The operating loss was $3.04 billion, or $1.60 per share, up from a loss of $114 million, or 84 cents a year ago.

Analysts surveyed by FactSet expected a loss of 22 cents per share.

The company has been paying back the billions of dollars the U.S. government provided in the 2008 bailout and now owes roughly $68 billion.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/f70471f764144b2fab526d39972d37b3/Article_2011-11-03-US-Earns-AIG/id-78475ccfed6e41cc9685352dbee37baf

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Do a barrel roll with Google (just don't get sick)

Google has rolled out a nausea-inducing Easter egg. So go on: Do a barrel roll.?

Back in 1993, when this Horizons blogger was still young and impressionable, Nintendo released an on-rails shooter called Starfox, which pitted a wise-cracking fox against the nefarious scientist Andross (in retrospect, not such a nefarious name). Starfox was fun! Playing as Fox McCloud, the gamer fought through endless waves of enemy marauders, enlisting along the way the help of sidekicks like Peppy Hare and Falco Lombardi.?

Skip to next paragraph

This week, Google ? home, apparently, to a few Star Fox fans of its own ? has released an Easter egg, which honors Starfox at least indirectly. Here's how it works: Head to Google.com. In the search field, enter the words "do a barrel roll." Hit enter, and for one, stomach-churning instant, your entire screen will flip upside-down, before smoothly rolling back into place. Already, the Easter egg has been dubbed "the best four seconds you'll waste online."?

We're not going to disagree, especially considering the flood of nostalgia this barrel roll Easter egg managed to induce. It's enough to make us wish we hadn't traded in our SNES so many years ago. (As Brett Molina of USA Today points out today, you can get the same vertiginous effect by searching for?"Z or R twice" ? a reference to the command which triggered the barrel roll in?Star Fox 64.)

A quick note: The barrel roll easter egg should work on most new browsers. If it doesn't, download an HTML 5-compatible update. In the meantime, check out this clip of vintage Starfox action. Happy rolling!?

For more tech news, sign up for the weekly?BizTech newsletter, which ships every Wednesday.

Source: http://rss.csmonitor.com/~r/feeds/csm/~3/2XZeUbc0Tzw/Do-a-barrel-roll-with-Google-just-don-t-get-sick

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Mexican candidate suspects drug gang in hit (AP)

MORELIA, Mexico ? The sister of President Felipe Calderon says a drug gang may have been responsible for killing a mayor in the western Mexican state of Michoacan as he campaigned for her and other candidates in the upcoming state election.

Luisa Maria Calderon is running for Michoacan governor in the Nov. 13 election. She was quoted by local news media on Thursday as saying that drug traffickers "probably" gunned down La Piedad Mayor Ricardo Guzman late Wednesday as he was handing out campaign leaflets.

Occupants of a black sport utility vehicle opened fire on him in La Piedad.

The city's police chief was killed in March. His successor was attacked with gunfire and grenades. Experts say drug cartels heavily infiltrate politics in Michoacan.

Source: http://us.rd.yahoo.com/dailynews/rss/mexico/*http%3A//news.yahoo.com/s/ap/20111103/ap_on_re_la_am_ca/lt_mexico_mayor_slain

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Cory Smoot, Gwar Guitarist, Dies on Tour


Cory Smoot, guitarist for the costumed heavy metal band Gwar, was found dead Thursday after a concert in Minneapolis in the midst of a six-week tour.

According to Fox News, Cory Smoot's body was discovered on the rock group's tour bus just before it was due to cross the border north into Canada.

Here's Smoot and Gwar playing what would be his final show Nov. 2:

Gwar's frontman, David Brockie, said in a statement:

"It is with a sense of profound loss and tragedy that the members of Gwar announce the passing of their longtime guitarist and beloved friend Cory Smoot."

"Cory was found deceased this morning as the band prepared for a border crossing. At this point we are just dealing with the loss of our dear friend and brother, one of the most talented guitar players in metal today."

Smoot, who was 34, assumed the onstage alias of Flattus Maximus when he joined the Intergalactic Mutant Overlords in 2002 and had been with them since.

Famed for its freaky horror costumes, metal anthems and stage antics like dousing fans in fake blood since 1984, Gwar played Late Night last week.

Despite Smoot's unexpected passing, his bandmates say the show must go on. Gwar plans to remain out on the road and play Friday in Edmonton.

Source: http://www.thehollywoodgossip.com/2011/11/cory-smoot-gwar-guitarist-dies-on-tour/

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Capitals Rally To Beat Ducks 5-4 In Overtime

WASHINGTON -- Nicklas Backstrom scored the tying goal with 42 seconds left in regulation, then added the game-winner at 2:18 of overtime to lift the Washington Capitals to a 5-4 comeback victory over the Anaheim Ducks on Tuesday night.

The Capitals trailed 3-0 in the second period and 4-2 with 10:47 left in regulation before rallying. It was 4-3 when Washington pulled goaltender Tomas Vokoun in the final minute, and Backstrom hammered home the rebound of a shot by Jason Chimera to force the extra session.

In overtime, Backstrom was standing to the right of the net when Alex Ovechkin sent the puck toward goalie Jonas Hiller. Anaheim defenseman Toni Lydman let the puck slip past his stick, and Backstrom scored easily to end it.

Washington improved to 6-0 at home and ended a two-game skid.

Teemu Selanne had two goals and two assists for the Ducks, who have lost three straight. Hiller stopped 35 shots.

Now in his 20th season, the 41-year-old Selanne leads the Ducks in goals (five) and assists (nine). He has three goals and eight assists in his last six games.

Anaheim was averaging two goals per game and had been held to one goal or fewer in five of its first 11 contests. The Ducks took only 15 shots, but more than a quarter of them made it past Vokoun.

Joel Ward, Dennis Wideman and Troy Brouwer scored for the Capitals, who remained unbeaten in the United States following losses at Edmonton and Vancouver.

The Ducks went up 1-0 at 9:05 of the first period when Selanne skated behind the goal and sent a centering pass to Saku Koivu, who eluded defenseman Roman Hamrlik and beat Vokoun from the left side.

Selanne and Koivu teamed again 4 1/2 minutes later to make it 2-0. Koivu corralled Lydman's shot off the back boards and sent it across the crease to Selanne, who scored from the left side of the net.

Selanne made it 3-0 with a slap shot at 8:59 of the second period, but the Capitals got back into it when Ward and Wideman scored just over three minutes apart. Ward drilled a wrist shot through the Hiller's pads, and Wideman scored after Hiller botched an attempt to clear a puck that was sent the length of the ice by Vokoun.

Corey Perry got a power-play goal for Anaheim at 9:13 of the third period for a 4-2 lead.

NOTES: It was the only game of the season between the teams. ... Capitals D Mike Green missed a third straight game because of a twisted right ankle, but D John Erskine made his season debut after being sidelined following shoulder surgery. ... The Capitals recalled C Cody Eakin from Hershey of the AHL and assigned D Sean Collins to the same club. ... Anaheim still has two games left in a 13-day, seven-game road trip that ends Saturday in Detroit.

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Source: http://www.huffingtonpost.com/2011/11/02/capitals-ducks-5-4-overtime-nicklas-backstrom_n_1070755.html

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