| MasterCard spent $1.8M lobbying
MasterCard International Inc. spent $1.8 million in 2007 to lobby on Internet-related issues and on fees merchants pay when customers use credit cards. The Purchase, N.Y.-based company spent $880,000 in the second half of 2007 to lobby Congress, according to a disclosure form posted online Feb. 13 by the Senate's public records office. It lobbied on gambling regulations and the use of credit cards to purchase illegal material on the Internet. The company spent $880,000 lobbying in the first half of the year on financial literacy, data security, microchip technology and fees banks pay to credit card networks. Congress is weighing tighter regulations on the credit card industry. The industry came under fire in December, when a Senate subcommitee issued a report denouncing practices that include raising interest rates for customers whose credit ratings decline, even if they make their card payments on time.
MFS admits debt blowout
BANKERS were circling property financier MFS yesterday after the company revealed debt had nearly quadrupled to almost $1.7 billion over the past six months. MFS told the stock exchange it had total debt of $1.69 billion compared with about $426 million as shown in the group's 2007 annual report, released in September. The debt -- held in a complex series of subsidiary companies and funds -- has escalated out of control since the end of the financial year. The company has yet to explain the blowout and yesterday requested trade in its scrip be suspended. Property development spin-off MFS Diversified sought to distance itself from the mess yesterday, dumping former MFS director Michael Hiscock as chairman. Hopes that the Commonwealth Bank would refinance a $150 million debt to US hedge fund Fortress were also dashed yesterday, with the bank telling the ASX it "has not agreed to refinance this or any other MFS debt facility".
'It has affected my kids - they're seeing me stressed out all the time ...
When the repossession notice finally came, Richard Wadswell felt crushed. The 46-year-old widower and father of two had worked all his life to pay the mortgage. Now his family home of 16 years was to be taken away. A court order hangs over Wadswell (not his real name), and if he misses a single payment to HSBC it will be enforced and he will be out. Calls to repossession advice lines are flooding in four times faster than this time last year and the number of repossessed homes going under the hammer with the country's leading property auctioneer has doubled. The Council for Mortgage Lenders predicts 45,000 homes will be repossessed this year, 50% more than in 2007. Now it seems only a matter of time before Wadswell's semi-detached home in a cul-de-sac in Tameside, Greater Manchester, adds to the statistical gloom.
Whopping rumor slams into Microhoo
Jerry Yang, who founded the internet giant, has been vocal about a new strategy for Yahoo since he resumed control of the company last year. Earlier this week, two pieces of Yang's strategy became illuminated as he announced plans to let publishers make changes in Yahoo's search results while giving users a voice in determining the content of Yahoo's homepage. Add to Yang's news the continuing rumors that Yahoo is in talks with News Corp. (deemed a long shot) and it's not clear that Microsoft and Yahoo are any closer to striking a deal. Meanwhile, a second -- and perhaps more peculiar -- rumor has surfaced at TechCrunch where the blog is reporting that Google is planning to buy a minor stake in Yahoo to drive up the stock price and disrupt Microsoft's bid to buy the company.
Tazewell Grand Jury hands down 93 indictments
During this session of the grand jury, the Commonwealth presented 93 indictments on 88 individuals. Ninety-three true bills, totaling 1,235 counts, were returned, according to a press release from the Commonwealth Attorney's Office.Ten individuals named in the indictment list released Wednesday were indicted on various drug-related charges, including possession and distribution of various controlled substances, as well as prescription fraud.Of the individuals indicted, 55 reside in Tazewell County; 33 reside outside the county, including 20 who are residents of West Virginia.Samantha Perry writes for the Bluefield (W.Va.) Daily Telegraph. - Click to discuss this story with other readers on our forums. .
Pint-sized wrestler wows 'em at national tourney
It's just one of the many ribbons and awards that crowd his bedroom. The rewards aside, it really all comes down to one simple pleasure for Dylan. "I love pinning people," he says with a devilish grin. "It's fun." Dylan is a cut above the rest because of his work ethic, natural talent and love of the sport, according to Dylan's coach Randy Brill, of the Fox Valley Wrestling Club. "He's the energizer bunny," says Brill. "He is nonstop, non stop." He's also persistent and works hard in practice. "He's tough," adds Brill. "And he's very coachable." Dylan started wrestling three years ago, following in the footsteps of his father, who competed at Wheaton North High School as well as at Ball State University in Muncie, Ind. Though small in stature, Dylan discovered quickly that size doesn't matter in this sport.
Hot New House Polls
Calls to the House clerk's office were referred to the House Administration Committee, and a spokeswoman was not able to say where the bill was. [Congressman Steve] King said he has assigned his staff to track down the bill because he, too, wants to know where it stands. Maybe Captain Ed's Hill source--the one who assured him that the White House wanted to "get as much coverage as possible"--can straighten everybody out. ... 9:26 A.M. He'll Have a Fit: Seth Stevenson, like the car mag pros, loves the Honda Fit. He must be right--but I've now seen a lot of them and still have trouble getting over its gruesome '80s styling. Of course, when you're in it ... what was it Frank Lloyd Wright said about the Harkness Tower? 12:38 A.M. Against the Liberal Media: Amid the ecstatic media frenzy of stories about looming Republican disaster, one contrarian dares speak up.
Bankrate: Fixed Mortgage Rates at 4-Month High
NEW YORK, Feb. 28 /PRNewswire-FirstCall/ -- Fixed mortgage rates increased for the third week in a row, with the average conforming 30-year fixed mortgage rate now 6.41 percent. According to Bankrate.com's weekly national survey of large lenders, the average 30-year fixed mortgage has an average of 0.4 discount and origination points. (Logo: http://www.newscom.com/cgi-bin/prnh/20040122/FLTHLOGO ) The average 15-year fixed rate mortgage popular for refinancing was unchanged at 5.87 percent, while the average jumbo 30-year fixed rate fell to 7.43 percent. Adjustable mortgage rates pulled back, with the average one-year ARM falling to 5.49 percent, and the average 5/1 ARM retreating to 5.68 percent. Mortgage rates were mixed this week, with fixed rates moving to the highest levels since mid-October while adjustable rates pulled back.
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