Get Rich Quick Club

How To Get Rich

2008-11-03T10:41:00.000-08:00

Have you asked yourself how you could make more money than you do now? Have you ever had dreams of being wealthy? Well, learn how to get rich from those who have already done it.

Starting as a college dropout with no family money, Felix Dennis made himself the sixty-fifth richest individual in the U.K. And had a blast in the process.

How to Get Rich, his #1 British bestseller, is different from any other book on the subject because Dennis isn’t selling snake oil, investment tips, or motivational claptrap. Having already made his fortune, he merely wants to help readers embrace entrepreneurship—and learn from his successes and failures.

Dennis reveals, for example, why a regular paycheck is like crack cocaine; why being young, penniless, and inexperienced is a fine combination; why great ideas are vastly overrated; and why “ownership isn’t the important thing, it’s the only thing.”

Part naked memoir, part manual, this book is invaluable for anyone willing to stare down failure and take a chance on not just getting rich, but very rich indeed!

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Mervyn's To File Bankruptcy

2008-10-18T06:20:00.000-07:00

Looks like the financial crisis facing America continues to claim the life of corporations.

Mervyn's is now closing the remainder of its stores and filing bankruptcy.

The country's growing economic malaise offered another local hit Friday, with the announcement that Mervyns will be closing all of its retail outlets -- including the Bayshore Mall's south anchor.

The Hayward-based company announced Friday that it is declaring Chapter 11 bankruptcy and will be closing its remaining 149 stores in California, including the Eureka location. Neither the Eureka store manager nor the corporate office were willing to answer further questions about the number of employees that will be put out of work, nor the store's history.

However, Eureka Main Street Executive Director Charlotte McDonald confirmed that Mervyns along with Sears and JC Penney were anchor stores when the Bayshore Mall opened in 1987.

The announcement from Mervyns corporate office in Hayward noted that going-out-of-business sales would be held during the holiday season, but no specific dates were offered for the stores' closure.

”We are disappointed with this outcome but the company's declining liquidity position and the extremely challenging retail environment, together with the fact that we have exhausted all other possibilities, requires we take this action,” Mervyns CEO John Goodman said in the company's announcement.

The news follows the company's attempt to fight its way back from a retail slump earlier this year. In July, efforts were undertaken to restructure its debt, according to reports at the time.

Companies are facing ever growing challenges during the economic turmoil facing the nation, and/or world right now.

One has to wonder, out of 149 stores, how many jobs is that, that are now gone?

Investigators Said to Take Closer Look at Lehman

2008-10-17T16:16:00.000-07:00

The latest regarding the financial crisis facing America.

According to the NY Times:

Federal prosecutors from three regions have stepped up their investigations into the collapse of the investment bank Lehman Brothers, issuing at least at least a dozen subpoenas including one to the chief executive, Richard S. Fuld Jr., people close to the matter said Friday.

Federal prosecutors in Brooklyn, Manhattan and New Jersey are all examining events leading to Lehman’s collapse and subsequent bankruptcy filing, these people said.

One focus for prosecutors, according to one person close to the matter, is whether Mr. Fuld or other Lehman executives made misleading statements about the bank’s condition to investors who took part in a $6 billion capital raising announced by the bank on June 9.

The New Jersey Division of Investment, which took part in the capital-raising, has received a subpoena, according to a person with knowledge of the matter. William Clark, director of the investment division, did not immediately return a call for comment.

Representatives of all three prosecutor’s offices declined to comment.

Take note if you are following these events online.

The existence of the federal investigations and subpoenas was disclosed at a federal bankruptcy hearing on Thursday by Harvey R. Miller, a lawyer at Weil, Gotshal & Manges who represents Lehman Brothers.

The bank raised the $6 billion in June at the same time that it announced a $2.8 billion loss that stunned Wall Street. The loss, after repeated assurances by bank executives that Lehman’s finances were sound, set off a plunge in the bank’s share price.

In the days that followed, Mr. Fuld reassigned the president, Joseph M. Gregory, and chief financial officer, Erin Callan, as he tried to restore confidence in the bank.

The investment bank sought bankruptcy protection in mid-September after a frantic last-minute effort failed to find a buyer or get a government bailout.

Some people are buying, some are selling. How does this effect you as an investor?

Yahoo Shares Jump

2008-10-16T12:53:00.000-07:00

Those of you watching those big search engine stock market deals, take a look at this latest development regarding Yahoo.

Microsoft Corp. chief Steve Ballmer signaled his openness to a deal with Yahoo Inc., sending Yahoo shares up as much as 15% on investor hopes that Microsoft's failed acquisition for the Internet search company might rematerialize.

After the comments touched off a surge in Yahoo shares, Microsoft tried to downplay its chief executive's remarks. "Our position hasn't changed," a Microsoft spokesman said in a statement. "Microsoft has no interest in acquiring Yahoo. There are no discussions between the companies."

Mr. Ballmer, speaking at a technology conference in Orlando on Thursday, said a deal with Yahoo "would make sense economically." It wasn't clear whether Mr. Ballmer was referring to a hypothetical acquisition of Yahoo by Microsoft or a more narrow agreement to acquire the company's search business.

Mr. Ballmer also cautioned in his speech that Microsoft, of Redmond, Wash., wasn't in any discussions with Yahoo about a deal and that Yahoo wished to remain independent.

A Yahoo spokesman declined to comment.

Yahoo shares gave up some of their early gains but were changing hands up 11%, or $1.31, at $13.06 in late afternoon trading on the Nasdaq Stock Market.

Microsoft earlier this year abandoned an unsolicited bid of $33-a-share to acquire its Internet rival. Yahoo's board rejected the offer, worth nearly $50 billion, as inadequate. Since then Yahoo shares have fallen to almost a third of Microsoft's offer price.

Google & Yahoo In Talks with DOJ

2008-10-14T08:17:00.000-07:00

Google and Yahoo are still working out their deal.

According to BizJournals...

Yahoo Inc. and Google Inc. are talking with the U.S. Department of Justice in hopes of protecting their proposed advertising agreement, according to a report Tuesday.

The Wall Street Journal reported that Sunnyvale-based Yahoo (NASDAQ:YHOO) and Mountain View-based Google (NASDAQ:GOOG) are still in early stages of negotiations with the DOJ.

Antitrust concerns have been raised about the proposed deal by advertising groups who say Google would gain too much of the online advertising space.

The Journal reported that both companies have talked about some concessions to allay concerns, including a cap on the volume of Google ads used by Yahoo.

In October the companies delayed their proposed deal in the face of heavy opposition from advertising groups in the U.S. and beyond.

At the time Yahoo said in a statement that the two companies "have had discussions with regulators and look forward to responding to their questions about this agreement."

Google added, "As we are still in conversation with the Department of Justice we have agreed to a brief delay in implementing the agreement while those discussions continue."

I like watching these big internet corporations do their thing in the modern business world.

Intel Shares Hit 5 Year Low

2008-10-06T10:40:00.000-07:00

Reading BusinessWeek today, I came across this...

Shares of Intel Corp., the world's largest computer chip maker, fell along with the broader market Monday to hit their lowest price in five years.

The stock, which is a component of the Dow Jones Industrial Average, fell 59 cents, or 3.4 percent, to $16.72 in early afternoon trading. Earlier, the stock hit $16.61, its lowest level since 2003.

Santa Clara, Calif.-based Intel's shares are down about 37 percent since the start of the year, a bigger drop than the Dow Jones industrials, which are down about 25.5 percent year-to-date.

The Dow Jones Industrial Average sank more than 500 points to below 10,000 for the first time in four years amid credit fears.

While Intel is generally considered a relatively safe bet amid the economic turmoil -- it is by far the world's largest computer chip maker -- it is not immune to a downturn and it stock price has declined amid fears that declining PC demand will mean lower demand for its semiconductors.

Biofuel & Alternative Fuel in America

2008-10-06T08:24:00.000-07:00

As America commits more and more resources to produce biofuel, scientists are calling for policies to guide the industry to standards.

As the United States and other nations commit to the path of biofuels production, a group of scientists is calling for sustainable practices in an industry that will, as MBL scientist Jerry Mellilo says, "reshape the Earth's landscape in a significant way."

In a paper published in the Oct. 3 issue of Science magazine, Melillo and 22 co-authors call for science-based policy in the emerging global biofuels industry, which by 2050 could command as much land as is currently farmed for food.

"The identification of unintended consequences early in the development of alternative fuel strategies will help to avoid costly mistakes and regrets about the effects on the environment," the authors write. Melillo is co-director of the Marine Biological Laboratory's (MBL) Ecosystems Center, and the other authors are environmental scientists, agronomists, and economists from numerous organizations in the United States and Brazil.

Alternative fuels are going to be a big part of America's future.

The biofuels industry in the United States has significant momentum, but no environmental performance standards are currently in place. In May, the 2008 Farm Bill was passed, which provides subsidies for growers of biofuels crops and for refiners who convert those crops to ethanol. Also, the U.S. Legislature approved a mandate in 2007 for the production of 16 billion gallons of cellulosic ethanol per year by 2022.

"We have a lot of information that can help policy makers think through the long-term consequences of this kind of mandate," Melillo says. "We can help society avoid or at least reduce some of the negative consequences of the expansion of biofuels programs in the United States and around the world. Science can help all of us use renewable resources, such as biofuels, in a sustainable way."

Everyone should educate themselves on biofuel and its production. America can also reduce its emissions by using hybrid automobiles.

Ebay Cutting 10% Workforce

2008-10-06T06:47:00.001-07:00

We are always following the latest layoffs regarding Internet web sites. Many of us work from home, many of us make our income via online auctions, so this is important news. According to the NY Times...

The Internet company, eBay, announced Monday that it was laying off 10 percent of its work force, or about 1,000 permanent employees and several hundred temporary workers.

The announcement was largely unrelated to the potential economic impact of a slowdown in ecommerce. Rather, it represented an attempt by eBay to improve the performance of its core marketplace division, which has experienced declining, single-digit growth in the last few years while the rest of e-commerce grows at a double-digit clip. The company said it would take a pretax restructuring charge of $70 million to $80 million, largely in the fourth quarter.

“While never an easy decision to make, these reductions will help improve our operations and strengthen our ability to continue investing in growth,” John J. Donahoe, eBay’s chief executive, said in a statement.

The company also announced on Monday that it was acquiring Bill Me Later, an online payments firm based in Timonium, Md., for $945 million in cash and stock. eBay will combine the company, which enables payments online for companies like Wal-Mart Stores and Continental Airlines, with its rapidly growing PayPal division.

“We are making aggressive moves to strengthen our leadership positions in e-commerce and payments to competitively position our company for long-term growth,” Mr. Donahoe said. “Bill Me Later is a perfect complement to our portfolio, a company that belongs with PayPal. Together, PayPal and Bill Me Later will make online payments safer, easier and more convenient than ever.”

Keeping internet payments safe should be the first priority.

Today's investment tip: Right now, due to the war in Iraq, and the current financial crisis, invest your money in gold ;)

Apple Stocks & Citizen Journalism

2008-10-04T10:03:00.000-07:00

Reading a little about Steve Job's health scare, Apple stocks, and citizen journalism.

CNN's plunge into online citizen- journalism backfired yesterday when the cable-news outlet posted what turned out to be a bogus report claiming that Apple Inc. Chief Executive Officer Steve Jobs had suffered a heart attack.

Apple shares fell as much as 5.4 percent after the post on CNN's iReport.com and rebounded after the Cupertino, California- based company said the story was false. Atlanta-based CNN, owned by Time Warner Inc., disabled the user's account and said it tried unsuccessfully to contact the individual.

The event underscores the need for news organizations to verify content generated by users before it is published, William Grueskin, dean of academic affairs at Columbia University Graduate School of Journalism, said in an interview from New York. CNN competitors Fox and MSNBC also have added interactive features to stretch resources and follow their audience to the Web.

I guess it can have it's ups and downs... as Bloomberg reports...

``It can be a very powerful influence when harnessed the right way, but sometimes it goes awry as it clearly did in this case,'' Grueskin said. ``News organizations are really getting squeezed and so it's incumbent on them to be looking for ways to engage citizens in the process.''

The Securities and Exchange Commission's enforcement unit is trying to determine whether the posting was intended to push down Apple's stock price. CNN is cooperating with the probe, Jennifer Martin, a spokeswoman for the network, said in a telephone interview. She declined to say whether CNN provided the user's IP address to the SEC.

The ability to publish unconfirmed material on the Internet can have a far-reaching impact.

In June, Yahoo! Inc. shares surged after a technology blog said acquisition talks with Microsoft had resumed. The report was later contradicted by CNBC and the shares gave back most of the 11 percent gain.

Citigroup Shares Drop

2008-10-03T18:45:00.000-07:00

Can't stop following the financial drama in the news tonight.

Shares in Citigroup Inc. fell sharply Friday after the bank's deal to buy Wachovia Corp.'s banking assets for about $2.1 billion was trumped by an offer from Wells Fargo & Co.

Citi shares lost $4.15, or 18.4 percent, to close at $18.35. In the past year the stock has ranged between $12.85 and $48.95. Wachovia shares soared 59 percent on the new deal, which will pay shareholders about $7 per share, or about $14.8 billion.

The bank had agreed to absorb as much as $42 billion in losses from Wachovia's $312 billion loan portfolio. The Federal Deposit Insurance Corp. agreed to cover losses above that level. The Wells Fargo bid does not include any government guarantees.

Citi is balking at the deal, saying it had an exclusivity agreement that precluded Wachovia from talking to other suitors.

People are being very careful with what they are doing with their money right now.

Wells Fargo To Buy Wachovia

2008-10-03T17:41:00.000-07:00

We've been following the financial crisis news all week regarding the Wall Street bailout. Now it seem, according to the New York Times, Wells Fargo is going to buy Wachovia.

In a stunning reversal, the Wachovia Corporation said early Friday that it planned to be acquired by a rival bank, Wells Fargo & Company, for about $15.1 billion in stock.

The announcement came four days after Citigroup believed that it had cemented a deal with Wachovia to buy most of its banking operations for $1 a share or $2.2 billion in a deal brokered by federal regulators. With Wachovia on the brink of collapse, the government agreed to cover any losses above $42 billion, an indication of the urgency of regulators to get a deal done.

But Wachovia has now apparently rejected the Citigroup deal in favor of Wells Fargo. That deal calls for Wells Fargo to buy all of Wachovia for $7 a share and requires no assistance from the federal government. Wachovia customer deposits would be protected in both deals.

Still, the agreement requires the approval of Wachovia shareholders and regulators. In an announcement Friday, the Federal Deposit Insurance Corporation, which brokered the Citigroup-Wachovia deal, said that it “stands behind its previously announced agreement with Citigroup.”

It's never a dull moment in business these days!

Think And Grow Rich

2008-02-07T07:32:00.000-08:00

It is true, whatever your mind can think, can be brought into this reality. By reading the book Think And Grow Rich you will understand what I mean when I say that.

If you want to be rich and wealthy, you must stop thinking like a poor or broke person, and the riches will come to you, but only if you are determined to see them out.

The book Think and Grow Rich changed my life, as it has changed man aspiring businessmen to become more wealthy than they had ever dreamed of. By following some of the methods of self-motivation and suggestion in this book, you truly can think your ways to riches.

Even though I read Napolean Hill's book long before I read Rich Dad Poor Dad, they can both offer you some help with bad habits that will hold you back in life or in business.

Once you are ready, make sure you start a corporation so you can protect you and your assets and cut your taxes by 70%.

Get Loans Online

2007-08-17T19:05:00.000-07:00

Are there enough ways to get rich or are there too many that present themselves in one day? You can borrow to start your own business or go on vacation!

How about online loans and what they have to offer.

Do you need a payday loan?

You can get $5,000 online - check out the online loans you can get.

More at Get Loans Online

Home Internet Work

2007-03-25T06:24:00.000-07:00

Are you tired of going to work? Have you thought about working for yourself?

Working from home is almost every modern American's dream, now you can reach that goal too.

There are literally millions of ways to make money from home, places to invest that money, methods to increased profit all from your home computer.

Now you too can work from home

Get Rich Quick Club Launches

2007-03-24T12:54:00.000-07:00

This is the official launch of the Get Rich Quick Club site!