Rate on 30-year mortgage ticks up to 4 percent

WASHINGTON (AP) — The average rate on the 30-year mortgage hovered above the record low for a third straight week. But cheap mortgage rates have done little to boost home sales or refinancing.
Freddie Mac said Thursday that the rate on the 30-year loan ticked up to 4 percent from 3.99 percent. Six weeks ago, it dropped to a record low of 3.94 percent, according to the National Bureau of Economic Research.
The average rate on the 15-year fixed mortgage rose to 3.31 percent from 3.30 percent. Six weeks ago, it hit a record low of 3.26 percent.
Rates have been below 5 percent for all but two weeks this year. Yet this year could be the worst for home sales in 14 years.
Mortgage applications fell 10 percent this week from the previous week, according to the Mortgage Bankers Association.
High unemployment and scant wage gains have made it harder for many people to qualify for loans. Many Americans don't want to sink money into a home that could lose value over the next three to four years. And most homeowners who can afford to refinance already have.
The low rates have caused a modest boom in refinancing, but that benefit might be wearing off. Most people who can afford to refinance have already locked in rates below 5 percent. Refinancing fell 12.2 percent last week, according to the mortgage bankers group.
The average rates don't include extra fees, known as points, which most borrowers must pay to get the lowest rates. One point equals 1 percent of the loan amount.
The average fees for the 30-year and 15-year fixed mortgages were unchanged at 0.7.
The average rate on the five-year adjustable loan fell to 2.97 percent from 2.98 percent. The average rate on the one-year adjustable loan increased to 2.98 percent from 2.95 percent.
The average fees on the five-year and one-year adjustable loans were both unchanged at 0.6.
To calculate average mortgage rates, Freddie Mac surveys lenders across the country Monday through Wednesday of each week.

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Rate on 30-year fixed mortgage falls to 3.98 pct.

WASHINGTON (AP) — The average rate on the 30-year fixed mortgage hovered above its record low for a fourth straight week. But cheap mortgage rates have done little to boost home sales or refinancing.
Freddie Mac says the rate on the 30-year fixed loan fell to 3.98 percent from 4 percent the previous week. Seven weeks ago, it dropped to a record low of 3.94 percent, according to the National Bureau of Economic Research.
The average rate on the 15-year fixed mortgage edged down to 3.3 percent from 3.31 percent. Seven weeks ago, it too hit a record low of 3.26 percent.
Rates have been below 5 percent for all but two weeks this year. Yet this year could be the worst for home sales in 14 years.

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U.S. Housing Market Still On Life Support; Prices At 2003 Levels

With each passing year, the former Oracle of the Fed, Alan Greenspan, is reminded that there really was a housing bubble and lowering interest rates to record lows just made matters worse.  Nearly four years after the housing market peak in 2007, record low mortgage rates are no match for falling incomes and 9% unemployment.
The Case-Shiller Home Price Index, released on Tuesday, showed that nation wide home prices did not register a significant change in the third quarter of 2011, with the U.S. National Home Price Index up by only 0.1% from its second quarter level. Home prices are down 3.9% across the board and are now back to their first quarter of 2003 levels. The market consensus was for a 3% decline year over year.
From August to September, housing prices have fallen the most in Atlanta, with a 5.9% decline, followed by Tampa Bay and San Francisco, both with a 1.5% drop in housing prices.
Boston, New York, Washington and Los Angeles remain the most expensive cities in the lower 48 states.
"The plunging collapse of prices seen in 2007-2009 seems to be behind us," says David M. Blitzer, Chairman of the Index Committee at S&P Indices. "Any chance for a sustained recovery will probably need a stronger economy."

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Fixed mortgage rates rise above record lows

WASHINGTON (AP) — Fixed mortgage rates rose slightly this week off their record lows. The year ends much like it began, with few people able to take advantage of the best rates in history.
Freddie Mac says the average on the 30-year home loan increased to 3.95 percent from 3.91 percent. Last week's rate was the lowest average on records dating to the 1950s.
The average on the 15-year fixed mortgage rose to 3.24 percent. That's up from 3.21 percent, also a record low.
Rates have been below 5 percent for all but two weeks in 2011. Even so, this year is shaping up to be one of the worst ever for home sales.

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Fixed mortgage rates end year above record lows

WASHINGTON (AP) — Fixed mortgage rates rose slightly this week off their record lows. The year ends much like it began, with few people able to take advantage of the best rates in history.
Freddie Mac said Thursday that the average on the 30-year home loan increased to 3.95 percent from 3.91 percent. Last week's rate was the lowest average on records dating to the 1950s.
The average on the 15-year fixed mortgage rose to 3.24 percent. That's up from 3.21 percent, also a record low.
Rates have been below 5 percent for all but two weeks in 2011. Even so, this year is shaping up to be one of the worst ever for home sales.
Previously occupied homes are selling just slightly ahead of last year's dismal pace. And new-home sales appear headed for their worst year on records going back half a century.
Next year could be better. More than 5 percent of households said this month they plan to purchase a home within the next six months, according to the Conference Board.
Builders are also hopeful that the low rates could boost sales next year. Low mortgage rates were cited as a key reason the National Association of Home Builders survey of builder sentiment rose in December to its highest level in more than a year.
But so far, rates are having no major impact. Mortgage applications have fallen slightly in recent weeks, according to the Mortgage Bankers Association.
High unemployment and scant wage gains have made it harder for many people to qualify for loans. Many Americans don't want to sink money into a home that they fear could lose value over the next few years.
To calculate the average rates, Freddie Mac surveys lenders across the country Monday through Wednesday of each week. The average rates don't include extra fees, known as points, which most borrowers must pay to get the lowest rates. One point equals 1 percent of the loan amount.
The average fee for the 30-year loan was unchanged at 0.7; the average on the 15-year fixed mortgage was unchanged at 0.8.
For the five-year adjustable loan, the average rate rose to 2.88 percent from 2.85 percent. The average on the one-year adjustable loan ticked up to 2.78 percent from 2.77 percent.
The average fees on the five- and one-year adjustable-rate loans were unchanged at 0.6.

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Credit score focus of new celeb-backed debit card

NEW YORK (AP) — Personal finance media personality Suze Orman is thinking big. She's the   first out of the gate in the fast-growing prepaid debit card market with a card that aims to help its users build a credit score. It's a gamble that could pay off, if it can help create a way measure the creditworthiness of millions who function outside the traditional financial system.
The latest in a string of celebrities to put their stamp on a prepaid card, Orman will likely avoid the criticism about high fees lobbed at earlier offerings, such as those of hip-hop mogul Russell Simmons and reality show stars the Kardashians. Orman's card costs $3 to obtain, and then just $3 a month, rivaling the hugely popular Walmart MoneyCard.
Although some will question how Orman will recoup the more than $1 million she has invested in the card when charging that little, the real twist isn't the low fee structure. Orman is working with credit reporting agency TransUnion to create a new kind of credit score for users of "The Approved" prepaid MasterCard, one that's based on their spending habits.
Right now, using debit cards — both the prepaid kind and those tied to bank accounts — does not influence an individual's credit score, which is calculated with data related to borrowing. If Orman's experiment is successful, this new type of score could be a game-changer for the estimated 60 million Americans who do most or all of their personal business in cash or with cash alternatives like prepaid cards.
The TV adviser said she approached several companies, urging them to agree to develop such a score, and TransUnion ultimately agreed to gather spending data for 18 to 24 months. It will use that data to try to come up with a formula that works as a way to predict whether the user is a good risk for lenders.
"This is truthfully a work in progress," said Orman.
Banks and other lenders are interested in creating ways to measure how prepaid cards are used, because of the huge market they represent. Consumers loaded an estimated $70.7 billion onto prepaid cards in 2011, up from $2.7 billion in 2005, according to consultancy Mercator Advisory Group.
Mercator projects the market will top $120 billion this year if adoption continues at the same pace.
In general, users can be divided into three groups. The first subset is those caught up in the economy — people who had good credit until it was damaged by events like unemployment or foreclosure. Second are those who have not yet built credit histories, mainly the young and recent immigrants. The third group avoids banks, often because of negative experiences, such as racking up high overdraft fees.
"Wouldn't it be fabulous if, for the first time in history, people are literally rewarded for spending cash, versus penalized, in my opinion, for doing so?" Orman said.
The problem with traditional credit scores from FICO Inc. and its competitors is that they measure how well individuals keep up with their payments, but don't pay any attention to their overall financial health, she said. "Scoring doesn't question where the money is coming from to make payments."
Prepaid cards have already filled some of the void for those who don't use banks, especially because they can be used to receive paychecks via direct deposit. But because they don't contribute to credit scores, the cards can't help users get a mortgage, a car loan or a credit card.
Not having a credit score, or having a low one, also drives up the cost of living in other ways. Lower scores can mean higher car insurance rates, higher rent, difficulty getting a job and paying higher interest rates for any credit available. People with little credit history — known as a "thin file" in the industry — are also the most likely to use alternative services like payday lenders, check cashing stores and bill pay services. These are expensive options when compared with credit cards and banks.
FICO Inc. and other companies use data tied to borrowing to determine a score meant to measure the likelihood an individual will pay back future loans. FICO's 300-to-850 scale is based on an individual's history making payments on loans, the percentage of available credit that is being used and how long the individual has used credit, among other data.
Those with thin credit files have a better chance of having their creditworthiness reflected by FICO's "expansion score," which factors in data like utility bill payments and rent payments. FICO CEO Mark Greene said the expansion scores have shown that the population without traditional scores mirrors to the larger population in terms of credit risk. Other credit score providers are beginning to provide measures based on utility payments and other nontraditional data.
One big difference for developing a prepaid score, however, is that these alternatives still measure how well individuals meet obligations, not how they spend the rest of their income.
"Spending is not actually a great indicator of the thing that we're trying to measure, which is the likelihood you're going to pay your bill," Greene said. "We need to be careful about how we approach that issue."
Another issue a prepaid-linked score must address is the fact that the typical reloadable card is used for just three to four months, said Brian Riley, who analyzes the card market for the consultant The Tower Group.
That timeframe is likely to expand, however, because more users are beginning to have their paychecks deposited to reload prepaid cards. Adding rewards and services, and cutting fees, may also increase customer loyalty.
Orman is adamant that her card will carry only a $3-per-month fee for users who load at least $20 per month onto it. Fees will rise only if the user uses ATMs outside the network it is linked to when withdrawing cash. Consumers who use The Approved Card will also get daily text messages updating their balance, along with one after each purchase, and other free services like ID theft monitoring, credit monitoring and free credit reports from TransUnion.
The media star, whose new show on the Oprah Winfrey Network premieres Monday, said she knows creating the score will be an uphill battle, but believes that if successful, it will help both lenders and borrowers. "You've got to start it somewhere, and this is the beginning of that process."

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Low prices boost SF home sales to 5-year Jan. high

Home sales in the San Francisco Bay area reached a five-year high for January, as prices and mortgage rates plunged, a real estate tracking firm reported Thursday.
However, many of those purchases involved properties that were subject to foreclosures or short sales, indicating the housing market is far from recovered.
The survey by San Diego-based DataQuick also showed the median sales price in the region fell nearly 3 percent last month from December to $326,000 — less than half the peak price of $665,000 reached in 2007 but up from the low of $290,000 recorded in 2009.
A total of 5,479 new and existing homes were sold in the nine-county area, according to DataQuick. The figure was down nearly 27 percent from December but marked a 10.3-percent improvement over January 2011.
The December-to-January drop was normal for the season, while the January-to-January jump showed real improvement, DataQuick said.
The year-over-year increase in January marked the seventh annual jump in a row, the firm said.
Home sales were buoyed by "lower prices, ultra-low mortgage rates, a modestly improved economy and a record level of investor purchases," DataQuick said in a statement.
The lower median price in January was "a reflection of how skewed the market has become toward distressed, lower-cost properties," DataQuick President John Walsh said in the statement. "The higher-end sales have slowed in recent months as many struggle to qualify for loans and others just sit tight."
Distressed property sales — the combination of foreclosure and short sales — made up more than half of all sales of existing homes. Absentee buyers, who mostly are investors, bought more than a quarter of all homes sold, DataQuick reported

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Why the Slowest Investors Win the Race

Anyone who attended kindergarten remembers Aesop's fable about the tortoise and the hare. The story's moral has implications for investors: Slow but steady wins the race.
Hare investors try to sprint to the finish line of a comfortable retirement without girding their portfolios against the perils of volatility — frequent ups and downs in asset value. So they tend to lag far behind tortoise investors, who take these precautions, which I'll explain in a moment.
Volatility reflects uncertainty, and markets tend to punish uncertainty with lower prices. Yet just because an investment is volatile doesn't mean it has no place in your portfolio. Because they may be less likely to go down with other assets in the portfolio, volatile investments may add highly beneficial variety, known as diversification.
Let's say you own tech stocks like Apple and IBM. Adding more tech stocks to your portfolio doesn't decrease overall risk, so you add a gold-mining stock instead. Though highly volatile in itself, the gold-mining stock is less likely to go up or down with tech stocks, so it increases the portfolio's diversification.
Because there's little correlation between gold-mining stocks' price movements with those of tech stocks, these categories are said to have a low correlation. That sounds complicated, but you can easily look up the differences in price movements between different types of investments to see whether they're correlated, and if so, how closely.
Aware of the downsides of volatility, tortoises avoid it by assembling highly diversified portfolios. That means traditional investments such as U.S. stocks and bonds, mixed with a dash of non-traditional (alternative) assets. These may include emerging market stocks, Treasury bonds and real estate securities. The price movements of these investments have a history of not being highly correlated with U.S. stocks or bonds.
Tortoises are like a savvy retailer on a tropical resort island who wisely sells umbrellas as well as sunscreen to help cover losses during rainy periods. Every once in while, the rain falls on everything -- which is what happened in late 2008, much to the dismay of investors. In the financial meltdown, stocks, bonds and real estate both in the US and abroad swooned, leaving little quarter for investors.
Tortoise-style investors add a touch of alternative investments, knowing this may cut their overall returns some years, but they'll sleep more peacefully with the knowledge that it can counter-balance heavy losses in traditional investments.
Hares aren't focused on this balanced approach. Instead, they assemble highly aggressive portfolios of assets that tend to rise or fall in lockstep. They're not concerned with cutting their losses because, compelled by greed, they're not planning to have any losses ior they believe they can defy gravity. This was not unlike the employees who loaded up on their company's shares before the recession, only to see their investment go south along with their job.
Like the Aesop's hare, hare investors are overconfident and turn a blind eye to the ravages of volatility, which take a long time to recover from. Tortoises, having sustained less damage, continue their slow but steady progress.
The math of recovering from hits may astonish you. Let's say your portfolio loses 33 percent of its value, leaving you with two thirds of what you had. Many believe they'd be back where they started if they gain 33 percent. But this gain wouldn't restore their losses. They would actually need to make a 50 percent gain to get back to where they started. The reason is that the gain is based on a lower value than what you started with.
Heavy gains followed by just a large losses from volatile investments is comparable to the hare in Aesop's fable sprinting for periods and then, winded, lying down to take a nap. Like the tortoise, investors with adequately diversified portfolios don't tend to need as much recovery time.
Such losses are even more damaging than they appear at first blush. Not only do hare portfolios lose time that could be used to make progress toward the goal, but they also miss out on the benefits of compounding from reinvested gains . Though tortoises' gains may be far lower than those made by hares during their sprints, they're more likely to enjoy the benefits of compounding.
These awkward reptiles plod steadily toward the finish line while the halting progress of hares leaves them far behind.

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US rate on 30-year mortgage hits record 3.83 pct.

WASHINGTON (AP) — Average U.S. rates for 30-year and 15-year fixed mortgages fell to fresh record lows this week. Cheap mortgage rates have made home-buying and refinancing more affordable than ever for those who can qualify.
Mortgage buyer Freddie Mac said Thursday that the rate on the 30-year loan ticked down to 3.83 percent. That's the lowest since long-term mortgages began in the 1950s. And it's below the previous record rate of 3.84 percent reached last week.
The 15-year mortgage, a popular option for refinancing, dropped to 3.05 percent, also a record. That's down from last week's previous record of 3.07 percent.
Low mortgage rates haven't done much to boost home sales. Rates have been below 4 percent for all but one week since early December. Yet sales of both previously occupied homes and new homes fell in March.
There have been some positive signs in recent months. January and February made up the best winter for sales of previously occupied homes in five years. And builders are laying plans to construct more homes in 2012 than at any other point in past 3 1/2 years. That suggests some see the housing market slowly starting to turn around.
Still, many would-be buyers can't qualify for loans or afford higher down payments required by banks. Home prices in many cities continue to fall. That has made those who can afford to buy uneasy about entering the market. And for those who are willing to brave the troubled market, many have already taken advantage of lower rates — mortgage rates have been below 5 percent for more than a year now.
Mortgage rates are lower because they tend to track the yield on the 10-year Treasury note. Slower U.S. job growth and uncertainty about how Europe will resolve its debt crisis have led investors to buy more Treasurys, which are considered safe investments. As demand for Treasurys increases, the yield falls.
To calculate the average rates, Freddie Mac surveys lenders across the country on Monday through Wednesday of each week.
The average rage does not include extra fees, known as points, which most borrowers must pay to get the lowest rates. One point equals 1 percent of the loan amount.
The average fee for 30-year loans was 0.7 last week, down from 0.8 the previous week. The fee on 15-year loans also was 0.7, unchanged from the previous week.
The average on one-year adjustable rate was 2.73 percent last week, down from 2.7 percent the previous week. The fee on one-year adjustable rate mortgages was 0.5, down from 0.6.

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Bee Bee Enterprises Launches Website and Blog Featuring Quality Lighting Products

Founders of Bee Bee Enterprises, Linda and Dewayne Walker are excited to announce the launch of their new website venture, BestTiffanyLighting.com, a website featuring Tiffany lamps, chandeliers, floor lamps, billiard and table lighting, as well as plenty other products to light and decorate the home. For more information, visit the website’s blog at TiffanyLightingReview.com.

Long Beach, CA (PRWEB) December 26, 2012
Linda and Dewayne Walker are proud to announce the creation and launch of their new website venture, http://www.BestTiffanyLighting.com. The website carries many excellent decorative and lighting-related products such as Tiffany lamps, chandeliers, floor lamps, wall sconces, billiard lighting, table lighting, fireplace screens, and stained glass windows. The Walkers have done much research to ensure that they have the best product lines possible ready for purchase on their website.
The Walkers have a dedication to making a great deal of quality products available on BestTiffanyLighting.com at reasonable and affordable prices. Customer service is something that is very important to the Walkers and thusly, they want every transaction made on their website to be pleasant and efficient for every customer. The website also has some connections with profiles on eBay, Amazon, and Pinterest.
Eventually, the Walkers would like to expand the website’s merchandise and perhaps add some furniture as well as a number of other products to BestTiffanyLighting.com. In addition to adding new lines of products, the Walkers also intend to periodically expand the existing lines of products that are already available on the website, so that there are always fresh and new items that will keep customers coming back to the website for more. This is part of the customer satisfaction that the Walkers intend to pay close attention to with their website.
To complement the main website, the Walkers are also launching a blog located at http://www.TiffanyLightingReview.com. The blog will feature a number of topics related to the products that are available in the online store; the Walkers intend to write blog posts that are related to interesting lamps that are part of the website’s merchandise with anecdotes and information about these high quality products.

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PolyU Researchers Develop Novel Treatment for People with Hemiplegic Arms

Researchers of The Hong Kong Polytechnic University (PolyU)'s Department of Rehabilitation Sciences have developed a novel treatment for people with hemiplegic arms because of stroke or unilateral cerebral palsy in order to speed up their recovery. Coined "Remind to move," the treatment requires the patients to wear a specially made sensory cueing wristwatch (SCW-V2), which is designed to provide pertinent sensory signals at a fixed interval.

(PRWEB) December 26, 2012
Researchers of The Hong Kong Polytechnic University (PolyU)'s Department of Rehabilitation Sciences have developed a novel treatment for people with hemiplegic arms because of stroke or unilateral cerebral palsy in order to speed up their recovery. Coined "Remind to move," the treatment requires the patients to wear a specially made sensory cueing wristwatch (SCW-V2), which is designed to provide pertinent sensory signals at a fixed interval.
The research was led by Dr Kenneth N. K. Fong, Associate Professor of the Department of Rehabilitation Sciences, who indicated that one of the common problems with arm recovery after stroke or in children with cerebral palsy is the "learned non-use." With learned non-use, a portion of motor impairment of the patient is not resulted from the brain cell damage but from the learned suppression of the movement, and that makes an individual unable to move or develop the arm further.
Dr Kenneth Fong therefore developed a sensory cueing wristwatch to promote the attention and overcome "non-use" of hemiplegic arm through sensory cueing (e.g. vibration) emitted by a portable ambulatory wristwatch device tied to the upper limb, thereby reminding the subject to move his/her arm as instructed by the therapist.
Three initial clinical trials have been completed in hospitals and in the community settings over the past few years. Not only have the research team published their results in top international rehabilitation journals, but also obtained patents for the device in the United States and on the Chinese mainland.
The results of a randomized controlled trial done in the hospitals supported the proposition that sensory cueing using a cueing device was better than using a placebo device in improving arm functions for patients with stroke and unilateral neglect. In the community settings, participants with chronic stroke were asked to wear a ambulatory sensory cueing device on their affected arms for three hours a day and engage in repetitive task practice for two weeks; while school children with unilateral cerebral palsy were asked to wear a sensory cueing wristwatch device for five hours a day over a three-week period to remind them to perform a set of pre-determined arm exercises to enhance their arm functions. All subjects ended up with significant improvement in using their hemiplegic arms.
The device is now being used in the occupational therapy departments of five hospitals under the Hospital Authority. As the device is small, light, user-friendly and cost effective, the treatment can be carried out at home and even in the absence of therapists' supervision. This allows patients to practise more using the hemiplegic arms in real life.
More recently, PolyU researchers have been awarded research funding from the Research Grants Council to support the further development of this novel treatment. The research team will also look for business and industry partners to further develop the wristwatch device with better design and a new monitoring system.

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Home Business Owners Data Now Available on ConsumerBase

B2B files contain email, telephone, postal and firmographic data for these entrepreneurs.

Evanston, IL (PRWEB) December 26, 2012
ConsumerBase LLC, a multi-channel mailing list provider located in Evanston, IL, is updating its home business owner data on its website. Business-to-business direct marketers seeking consumers with entrepreneurial interests and burgeoning businesses are able to access firmographic, geographic and contact information data through these comprehensive files.
“ConsumerBase home business data mailing lists provide our clients with high quality data for their business-to-business marketing needs,” says Larry Organ, CEO of ConsumerBase. “Our continuous data cleansing techniques ensure we always have accurate and up-to-date data available.”
ConsumerBase home business owner mailing lists include, but are not limited to:
Direct Response Home Office and Home Business Opportunity Seekers Mailing List

Home Business Owners Mailing List

Money from Home- Home Business Owners Mailing List
ConsumerBase mailing lists contain up-to-date email, telephone, postal, demographic, and firmographic data. Daily list additions to all categories and monthly updates on existing lists ensure that the resulting high data quality gives direct marketers the advantage in a competitive marketplace.
ConsumerBase

ConsumerBase provides multi-channel direct marketing services with a specialty in postal, email, and telephone solutions. Encompassing the entire lifecycle of customer information, ConsumerBase services focus on acquiring and retaining customers, validating, cleaning, and enhancing customer data, and improving the overall performance of marketing communications.
ConsumerBase is an Evanston-based multi-channel mailing list company. The company was founded in 2001 and is based in Evanston, Illinois. ConsumerBase operates as a subsidiary of Organ Worldwide LLC.

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Online Shopping Mall and Blog Launches New Info Site to Help Shoppers Choose Best Printer for Photos

MyReviewsNow.net, a leading online shopping mall, blog, reviews and information hub, has launched a new website designed to help people choose the right photo printer when they shop online. There is no cost to access the new website, and no membership or registration is required.

Las Vegas, NV (PRWEB) December 26, 2012

For parents to students to professionals and everyone in between trying to shop online and choose the best printer for photos can be a challenge – especially when many products look the same, and trying to separate apples from oranges is easier said than done. Fortunately, online shopping mall and blog MyReviewsNow.net has a helpful solution with the launch of their new, no-cost information website.

The new website, located at bestprinterforphotos.com, provides simple, jargon-free information and tips on how to choose the best printer for photos. In particular, the website reminds shoppers that new, portable and lightweight battery-operated photo printers are available that rival many larger options in terms of print quality, speed and performance – yet at a fraction of the size.

“At the end of the day, there is no single best printer for photos,” commented a Spokesperson from MyReviewsNow.net. “Ultimately, it all comes down to finding the right mix of features and specifications, and of course, ensuring that it doesn’t cost an arm and a leg, and makes it cost-effective over the long term to print photos at home or the office, instead of visiting a professional print shop. Our website provides helpful information that people – from homemakers to a small business owner – can trust to choose the right solution that works for them and their needs.”

People who want to learn more about choosing the best printer for photos can access MyReviewsNow.net’s new information website now. There is no cost, and no membership or registration is required.

People are also encouraged to visit MyReviewsNow.net’s giant shopping mall, and browse for a variety of products and services from the convenience of their home, office, or wherever their busy lifestyle takes them. Shoppers can also read hundreds of helpful reviews, leave their own feedback and ratings, explore the informative shopping blog, sign-up for the e-newsletter, and more.

For more information or media inquiries, contact Lina Andrade at info(at)myreviewsnow(dot)net. Press release issued by SEOChampion.com.

About MyReviewsNow.net Shopping Blog and Mall

A shopping blog, gift ideas hub and online shopping superstore that features thousands services, products and publications available online, MyReviewsNow.net is a business directory that sets itself apart from similar sites by offering both professional reviews and consumer reviews on the Internet’s hottest offerings in a fun, simple format that is easy for visitors to shop online and enjoy. Plus, MyReviewsNow.net is 100% free, open 24/7, and the best way avoid crowded shopping malls and parking lots.

About SEO Champion

SEO Champion was started in 1999 and is owner operated by Michael Rotkin, SEO Specialist for over 17 years. Michael Rotkin’s goal for his clients is to “own” keyword placements for the top 3 slots organically, so that his clients can earn a higher return on investment from their advertising dollars. Rotkin realizes the value of SEO over Pay-Per-Click campaigns, where click-throughs are generally more expensive and harder to convert into sales. SEOChampion’s intense work ethic can be seen in daily and weekly reports that show progress through organic keyword gain. This effort is the reason his SEO firm has been able to build a loyal client base for many years. Learn more at SEO Champion.

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The Hong Kong Polytechnic University promotes knowledge enterprises through MAKE Award

The Hong Kong Polytechnic University (PolyU)'s Knowledge Management and Innovation Research Centre (KMIRC) has successfully run the Most Admired Knowledge Enterprise (MAKE) Award in Hong Kong for five years. This Award has encouraged more Hong Kong enterprises to keep abreast of best practices in knowledge management (KM) and provided a platform for local enterprises to benchmark their KM performance for further improvement.

(PRWEB) December 26, 2012
The Hong Kong Polytechnic University (PolyU)'s Knowledge Management and Innovation Research Centre (KMIRC) has successfully run the Most Admired Knowledge Enterprise (MAKE) Award in Hong Kong for five years. This Award has encouraged more Hong Kong enterprises to keep abreast of best practices in knowledge management (KM) and provided a platform for local enterprises to benchmark their KM performance for further improvement.
This year's MAKE Award Presentation Ceremony was held at Cyberport on 18 December, followed by a sharing forum jointly organized by KMIRC and Cyberport. The event has won support of government officials, educational and business leaders. Officiating at the ceremony were Mr Kim Salkeld, Head of the HKSAR Government's Efficient Unit; Ir Professor Choy Kin-kuen, President of Hong Kong Institution of Engineers; Mr Herman Lam, Chief Executive Officer of Hong Kong Cyberport Management Company Ltd; and Mr Nicholas W. Yang, Executive Vice President of PolyU. Mr Stephen Selby, Former Chair of the APEC Intellectual Property Experts' Group also delivered a speech on behalf of the judging panel.
Speaking at the ceremony, Mr Nicholas Yang said, "To compete in the knowledge-based economy nowadays, enterprises should adopt a new business model, i.e. to effectively manage the intangible assets and intellectual capital for enhancing the competitive advantage and the innovation capability which are the key factors to productivity, competitiveness and sustainability."
All winning enterprises have exhibited outstanding knowledge management achievements with mature and humanistic KM strategy. This year's top prize went to Hong Kong Productivity Council. Other winning enterprises included Arup; Ernst & Young, Hong Kong; Hutchison Telecommunications Hong Kong Holdings Limited; MTR Corporation Limited; and Pfizer Corporation Hong Kong Limited.
A sharing forum was organized after the ceremony during which Mr Neil Salton of Woods Bagot, winner of Asian MAKE Award, Mr Jiejia Lin of Kingdee Software (China) Co. Ltd., winner of MAKE Award (Chinese mainland) and Mrs Agnes Mak of Hong Kong Productivity Council (Top winner of Hong Kong MAKE Award) shared their KM experiences with the audience. In the panel discussion session, local winners also shared their successful experience in KM implementation.
The Global MAKE award is an international benchmark of best practice knowledge management. It was launched in 1998 by KNOW Network, an international web-based professional knowledge sharing network and Teleos, a research firm specializing in knowledge management. Since 2008, the MAKE Award has been introduced in Hong Kong and Chinese mainland by the PolyU Knowledge Management and Innovation Research Centre.

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Factbox: U.S. House "Plan B" tax bill likely to have short shelf life

WASHINGTON (Reuters) - The U.S. House of Representatives is likely to vote this week on what is being called "Plan B" on avoiding the "fiscal cliff."
The Republican-sponsored legislation aims to extend current low tax rates for most families. Without such action by Congress, across-the-board income tax rates will rise on January 1.
The combination of $500 billion in tax hikes and $100 billion in spending cuts, which are scheduled to start in the new year, could push the U.S. economy into recession, according to experts.
House Speaker John Boehner, the top Republican in Congress, and Democratic President Barack Obama have been trying for weeks to avoid the fiscal cliff with an alternative tax and spending-cut deal. Boehner says he is offering this very limited alternative in case negotiations with Obama fail.
Here are key elements of Boehner's Plan B:
* A House vote is expected on Thursday.
* Boehner expressed confidence on Wednesday that the measure would pass but some House Republican aides were not yet predicting that.
* The White House has said Obama would veto the Boehner Plan B in the unlikely event it made it to his desk.
* Democrats are viewing Plan B as nothing more than a diversion from attempts to reach a broad deficit-reduction deal to avoid the fiscal cliff. They see it as a way for Boehner to give his conservatives a vote on a measure that they can tout as a tax-cut bill for all but the wealthiest and inoculate them against Democratic accusations of obstruction.
* Republicans argue that they are acting responsibly by providing a backstop against massive tax increases in case the Obama-Boehner negotiations fail.
* Once Plan B is dealt with, all attention will shift to whether Obama and Boehner can work out a broad agreement by December 31 or whether the country will go off the cliff. If that happens, there is speculation that some sort of deal might be worked out in the early weeks of January to avoid the full brunt of the tax hikes and spending cuts.
* Under Boehner's Plan B, current low tax rates would be made permanent for families with net annual incomes of up to $1 million. The measure would let tax rates rise on income above $1 million. Without action by Congress, all income tax rates are set to rise on January 1 with the expiration of tax cuts enacted a decade ago by then-President George W. Bush.
* Plan B includes a grab bag of other expiring tax provisions. It would permanently fix the alternative minimum tax so that middle-class taxpayers do not creep into a tax bracket intended for the wealthiest. Annual AMT fixes have prevented tens of millions of households from paying a higher tax rate.
Also included are moves to maintain estate taxes at their current 35 percent rate per individual after a $5 million exemption. The White House backs reverting to the 2009 estate tax levels of 45 percent tax after a $3.5 million exemption per individual, though some moderate Democrats back keeping the current law.
Plan B legislation would raise dividend and capital gains tax rates for those earning $1 million and over to 20 percent, from its current 15 percent for most who pay such taxes. Most Democrats back raising the current 15 percent tax rate on investment income to 20 percent for households earning more than $250,000.
* The Joint Committee on Taxation estimates the plan would reduce U.S. revenues by around $4 trillion over 10 years.
* The plan does not address spending issues, including automatic across-the-board spending cuts also looming at year's end.
* The bill does not address how to resolve a looming stand-off over the government's borrowing authority. The government will need to raise the "debt ceiling" in the next few months to avoid default, and Obama wants higher borrowing authority approved promptly. House Republicans continue to want to hold back and use it as leverage in ongoing fiscal cliff talks, according to aides.
* Senate Majority Leader Harry Reid already has warned there are not the votes in his chamber to pass Boehner's plan. But if the House sent the Senate such a bill, Reid could respond in one of a few ways. He could declare that the Senate in July passed its version of this legislation, but with a $250,000 threshold, and take no further action. Or, he could offer a variation of the Senate-passed bill. Obama has proposed a $400,000 cut-off for maintaining low income tax rates. Reid could embrace that level or another one.
* The legislation is being inserted into an existing bill that originally had to do with Burma trade policy. A House Rules Committee spokesman said this was being done to avoid some potential procedural delays.

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U.S. charges three Swiss bankers in offshore account case

(Reuters) - Three Swiss bankers accused of conspiring with American clients to hide more than $420 million from the tax-collecting U.S. Internal Revenue Service were indicted, the U.S. Attorney's Office in Manhattan said on Wednesday.
The indictment named Stephan Fellmann, Otto Huppi and Christof Reist, all former client advisers with an unnamed Swiss bank. None of the bankers have been arrested, authorities said.
Their attorneys were not immediately known.
The indictment said the unnamed bank did not have offices in the United States.
Banking secrecy is enshrined in Swiss law and tradition, but it has recently come under pressure as the United States and other nations have moved aggressively to tighten tax law enforcement and demanded more openness and cooperation.
In April, two Swiss financial advisers were indicted on U.S. charges of conspiring to help Americans hide $267 million in secret bank accounts.
In January, prosecutors charged three Swiss bankers with conspiring with wealthy taxpayers to hide more than $1.2 billion in assets from tax authorities.
UBS AG, the largest Swiss bank, in 2009 paid a $780 million fine as part of a settlement with U.S. authorities who charged the bank helped thousands of wealthy Americans hide billions of dollars in assets in secret Swiss accounts.

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"Fiscal cliff" turmoil could hit 100 million taxpayers: U.S. IRS

WASHINGTON (Reuters) - U.S. tax authorities warned on Wednesday that as many as 100 million taxpayers - far more than previously estimated - could face refund delays if lawmakers' "fiscal cliff" negotiations fail to fix the alternative minimum tax (AMT) before year-end.
The Internal Revenue Service said in a letter to lawmakers that it was raising its estimate on AMT impact from 60 million.
"It is becoming apparent that an even larger number of taxpayers - 80 to 100 million of the 150 million total returns expected to be filed - may be unable to file," IRS Acting Commissioner Steven Miller wrote.
The AMT is a levy designed to ensure that high-income taxpayers pay a minimum tax. Democrats and Republican typically agree to adjust the tax for inflation to prevent unintended taxpayers from being hit by it.
This year, however, its fate is tied to heated negotiations - primarily between President Barack Obama and House Speaker John Boehner - over future taxes and federal spending as they try to avoid the automatic tax increases and spending cuts known as the fiscal cliff.
The AMT fix for calculating 2012 income tax has broad bipartisan support, but so far been drowned out by the larger federal budget questions.
Without action soon to fix the AMT, there could be "lengthy delays of tax refunds and unexpectedly higher taxes for many taxpayers," Miller said.
The IRS needs congressional authority to update tax-filing software and forms so that Americans can start their tax returns next year. Inaction by Congress on the AMT has left IRS unsure which taxpayers will need to pay the AMT tax.
An IRS spokesman declined to comment on the agency's AMT preparations to date.
"Failure to act on the fiscal cliff will throw the 2013 tax filing season into chaos," Representative Sander Levin, a Michigan Democrat, said in a statement.
About 4 million taxpayers pay the AMT now because Congress routinely "patches" it for inflation to keep it from reaching down into middle-income tax brackets.
Without a patch for 2012, up to 33 million taxpayers will have to pay the AMT, according to IRS.
Obama's most recent offer to Republicans included a permanent AMT patch.
House Republicans plan to vote Thursday on a bill to address the fiscal cliff that also includes an AMT patch.

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What's on the table now in 'fiscal cliff' talks

An update on the latest offers on the table in negotiations to avert a year-end avalanche of federal tax increases and spending cuts known as the "fiscal cliff":
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INCOME TAXES
House Speaker John Boehner would allow income tax rates to rise for people making more than $1 million per year and would hold rates where they are for everyone making less. The top rate on income exceeding $1 million would go from 35 percent to 39.6 percent.
President Barack Obama would freeze income tax rates for taxpayers making $400,000 or less and raise them for people making more.
The two sides are moving closer together. Previously, the Republican House leader opposed allowing any tax rates to go up; Obama wanted higher taxes for individual income above $200,000, or $250,000 for couples.
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PAYROLL TAX
Obama has dropped his proposal to extend a temporary cut in Social Security payroll taxes paid by 163 million workers. Republicans want that tax to go back up.
Raising the payroll tax by 2 percentage points to its old level would cost a worker making $50,000 a year another $1,000 — or a little more than $19 per week — during 2013.
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SOCIAL SECURITY
Obama is offering to reduce cost-of-living increases for Social Security recipients. Republicans have been seeking this as a key to long-term deficit reduction. But many congressional Democrats oppose it.
Government pensions and veterans' benefits would also get smaller cost-of-living increases.
In addition, taxpayers, especially low- and middle-income families, would pay more because of changes in the way that tax brackets are adjusted for inflation.
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MEDICARE
Obama continues to reject Republicans' plan to raise the eligibility age for Medicare from 65 to 67. Boehner now says raising the eligibility age is not essential to a deal.
Obama wants to limit cuts in Medicare and other health care programs to about $400 billion over 10 years; Republicans want to overhaul Medicare to save even more money.
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DEBT LIMIT
Obama wants a deal that would raise the amount the government is allowed to borrow to cover the next two years, to avoid another debt showdown with Congress until after the 2014 midterm elections.
Previously, Obama had demanded permanent authority to increase the debt ceiling without congressional approval. Republicans want Congress to be part of the decision-making process so they can demand budget-cutting in exchange for additional borrowing.
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OTHER TAXES
Obama and Boehner both propose raising taxes on dividends and capital gains from 15 percent to 20 percent.
Both sides would reduce the number of deductions and exemptions that wealthy taxpayers can claim.
Obama would also let estate taxes revert to a 45 percent rate, after the first $3.5 million of an estate is exempted. Boehner backs a plan for a 35 percent rate and $5 million exemption.

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Swiss lender ZKB says three charged by U.S. authorities

(Reuters) - Swiss lender Zuercher Kantonalbank (ZKB) said two of its bankers and one former employee had been charged by U.S. authorities, which had accused them of helping U.S. clients avoid taxes.
The three were indicted over changes of conspiring with American clients to hide more than $420 million from the U.S. Internal Revenue Service, the U.S. Attorney's Office in Manhattan had said on Wednesday.
The indictment did not identify the bank concerned but named Stephan Fellmann, Otto Hueppi and Christof Reist, who it said were all former client advisers for the unnamed institution.
None of the bankers had been arrested, authorities said.
Banking secrecy is enshrined in Swiss law and tradition but has recently come under pressure as the United States and other nations have moved aggressively to tighten tax law enforcement and demand more openness and cooperation.
U.S. authorities are investigating at least 11 banks, including Julius Baer , Credit Suisse and other Swiss regional banks, along with UK-based HSBC Holdings and Israel's Hapoalim, Mizrahi-Tefahot Bank Ltd and Bank Leumi .
In February, Wegelin & Co, Switzerland's oldest private bank, was indicted.
UBS AG , the largest Swiss bank, in 2009 paid a $780 million fine as part of a settlement with U.S. authorities who charged the bank helped thousands of wealthy Americans hide billions of dollars in assets in secret Swiss accounts.
ZKB said in a statement it was cooperating with U.S. authorities. The bank said it could give no details about the employees due to the ongoing investigation and did not confirm what they had been changed with.
ZKB bankers Fellmann and Reist could not be reached for comment. Hueppi declined to comment.

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Investors offer about 30 billion euros in Greek debt buyback: source

ATHENS (Reuters) - Greece is set to purchase back about half of its debt owned by private investors, broadly succeeding in a bond buyback that is key to the country's international bailout, a Greek government official said on Saturday. Greek and foreign bondholders offered the targeted 30 billion euros ($38.8 billion) in the deal, which is central to efforts by Greece's euro zone and International Monetary Fund lenders to cut its debt to manageable levels. "The buyback went well in broad terms. The amount offered by investors was within the range expected, about 30 billion euros," the official told Reuters on condition of anonymity. He did not provide more details. No formal announcement is expected before Monday, another official told Reuters. The buyback accounts for about half of a broader, 40-billion euro EU/IMF debt relief package for Athens agreed in November. The package broadly doubles the average maturity of its rescue loans to almost 30 years and cuts its interest rates by one percentage point to a level far below 1 percent. Under its terms, Athens will spend up to 10 billion euros of borrowed money to buy back bonds with a nominal value of about 30 billion euros. This is nearly half the 63 billion euros of Greek debt held by private investors eligible for the plan. Since the bonds are to be bought far below their nominal value, the country's net debt burden would fall by about 20 billion euros. A successful buyback will ensure that the IMF, which contributes about a third of Greece's bailout loans, will stay on board of the rescue. It would also unlock the payment of 34.4 billion euros of aid later this month. Athens badly needs that money to refloat its ailing economy by replenishing the capital of its cash-strapped banks and settle arrears with government suppliers. The EU and the IMF have been withholding rescue payments to Greece for six months because it had fallen short of promises to shore up its finances, privatize and make its economy more competitive. Athens has received 148.6 billion euros in EU/IMF funds since May 2010. It stands to get almost 90 billion euros more by the end of 2014. But the rescue comes at a heavy price. Austerity measures taken in exchange for aid have plunged the country into economic depression. Unemployment hit a record 26 percent in September, the highest in the euro zone. The economy is going through its fifth consecutive year of recession and is expected to have shrunk by 24 percent when recovery begins in 2014. GREEK BANKS ON BOARD The buyback was expected to go well after Greek banks, which hold about 17 billion euros of bonds, announced shortly before a Friday deadline they would take part. Two Cypriot lenders also said they would offer their bonds. Foreign investors have offered between 15 and 16 billion euros worth of bonds, Greek newspapers reported on Saturday, citing initial estimates without saying how they got them. Athens' hopes of drawing enough investors to the scheme grew after it announced better-than-expected terms on Monday, with price ranges at a premium over market prices. The price range varied from a minimum of 30.2 to 38.1 percent and a maximum of 32.2 to 40.1 percent of the principal amount, depending on the maturities of the 20 series of outstanding bonds. Hedge funds, which bought the debt at rock-bottom prices when it was feared the country would exit the euro, are estimated to hold a large part of Greek debt and the offer was seen as good enough to make them a nice profit. "Athens put forth a reasonable if not generous offer for hedge funds to participate," Sassan Ghahramani, CEO at New York-based Macro Advisers, a hedge fund consultancy, said on Friday. "I expect there will be strong participation from hedge funds, tendering a substantial portion of their Greek bond holdings," he said. The government also enticed Greek bankers by offering to protect them from possible shareholder lawsuits stemming from the buyback. Greek bankers had been reluctant to take part, in the fear they would book losses on top of the ones they incurred earlier this year when Athens enforced a debt cut on its bondholders. But the lenders were nevertheless expected to participate because they depend on the bailout funds that Athens stands to receive if its bailout continues smoothly. ($1 = 0.7735 euros)

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