Kaulkin Ginsberg Report Says Increased College Student Credit Card Debt Causing Financial Straits for Graduating Students
Business Wire, Sept 10, 2008
ROCKVILLE, Md. — College students are known for carrying student loan debt; however a new report, The Student Market for Credit Cards: Issues and Trends, finds that more of this year’s seniors will be facing a “perfect storm” of financial struggle after graduation, especially due to increased college student credit card debt.
The convergence of higher student loan debt, student attitudes toward credit card debt, and a dim employment outlook are just some of the factors that will cause difficult circumstances for some graduating college students this year, according to the report from Kaulkin Ginsberg, the leading strategic advisor to the debt collection / accounts receivable management industry.
“Students are using credit cards as a last resort to pick up the slack when they have difficulty getting loans or jobs to cover their expenses,” noted Dimitri Michaud, Kaulkin Ginsberg Consumer Finance Analyst and author of the report. “With fewer loans and jobs available, you have the makings of an increase in college student credit card debt on top of existing student loan debt.”
Michaud added that government loans and grants have failed to keep pace with educational costs, and ten percent of student borrowers now rely on private loans to bridge the gap. The recent credit crisis has impacted the ability of students to obtain these private loans, however. More than two dozen lenders, including Bank of America, Citigroup and Wachovia, stopped or curtailed their private lending to students over the summer.
“Separate studies by the American Council on Education and by U.S. PIRG both found that roughly 25 percent of student credit card holders used their cards to pay for some portion of their tuition,” said Michaud. “With major lenders now limiting the availability of private student loans, we may see that percentage of college students paying a portion of tuition on credit cards increase, thus increasing college student credit card debt levels.”
Attitudes toward credit may also be a factor in increased college student credit card debt. More than 25 percent of college students think it is reasonable to use their credit cards as a means to raise cash, according to a recent National Association of Retail Collection Attorneys (NARCA) survey. The NARCA survey also revealed that 31 percent of those polled did not worry about college student credit card debt because they believed they could pay back outstanding balances once they were out of school and earning a regular paycheck.
This optimism may be ill-founded, especially for the younger portion of the work force. Unemployment numbers for individuals between the ages of 16 and 19 – years that encompass a good portion of the college student population – rose steadily in May, June, and July – from 18.7 percent, to 18.1 percent, to 20.3 percent respectively. This means that many students were unable to earn income during the summer break, and the outlook for employment after graduation may be similarly bleak.
“Especially for students in Finance, all you hear are the stories of layoffs and hiring freezes on Wall Street, so a lot of seniors are very stressed,” noted Ander Echanove, a senior at American University who is quoted in the report. “With fewer jobs around, there will be a lot of competition, so that’s a big concern.”
For a copy of Kaulkin Ginsberg’s report The Student Market for Credit Cards: Issues and Trends, or for more information on college student credit card debt, visit the Free Reports section of insideARM.com, or contact Dimitri Michaud at 240-499-3840.
About Kaulkin Ginsberg
Kaulkin Ginsberg is the leading strategic advisor for the accounts receivable management (ARM) industry
What’s Hot and What’s Next in Beauty, Fragrance, Personal Care & Well-Being
PR Newswire, Sept 15, 2009
NEW YORK, Sept. 15 /PRNewswire/ –
WHAT: HBA GLOBAL EXPO
http://www.hbaexpo.com/WHEN: September 15-17, 2009
WHERE: Jacob K. Javits Convention
11th Avenue between 34th & 39th Street
New York, NYEXHIBIT HOURS: 10:00 a.m. - 5:00 p.m., Tuesday, Sept. 15
10:00 a.m. - 5:00 p.m., Wednesday, Sept. 16
10:00 a.m. - 3:00 p.m., Thursday, Sept. 17WHO: This year's show has more than 600 international
industry suppliers and educational partners presenting
their latest products, innovations, and expertise at the
health and beauty industry's premier international
product development event--HBA Global Expo. The top
brand manufacturers and marketers along with emerging
entrepreneurs from around the world are expected to
attend.WHY: HBA Global Expo is the only industry-specific exposition
and educational conference for the cosmetic, fragrance,
personal care, skin care, and well-being industries,
featuring new products, trends and technologies.Highlights of the show include:
-- Organics and naturals innovator, Horst Rechelbacher, CEO/Founder of
Intelligent Nutrients and Aveda will deliver the opening Keynote
Address on Tuesday, September 15th at 9:00 a.m. in the Special Events
Hall.-- Mary J. Blige receiving the first annual HBA Positively Beautiful
Award after the Keynote Address. Lisa Price of Carol's Daughter will
present the award.-- New Products Innovation Showcase (Booth: 1463) featuring skin care
formulations, active ingredients, sustainable packaging, organics,
private label offerings and much more.-- The latest beauty drinks and food tastings presented by Mintel, a
global market research company.-- Exclusive research from The NPD Group on key consumer findings on what
is happening in the cosmetics, skincare and fragrance marketplace and
its affect on product development plans.-- The presentation of the HBA International Package Design Awards
(IPDA), showcasing the very best finished goods products in cosmetics,
fragrance, personal care, skin care and green categories.-- A Sniffapalooza sponsored session with Bath & Body Works on the
creation of their new fragrance, P.S
Research and Markets: easyGroup Ltd – Travel and Tourism – World
Business Wire, Sept 17, 2009
DUBLIN — Research and Markets (http://www.researchandmarkets.com/research/758bc8/easygroup_ltd_tr)
has announced the addition of the “easyGroup
Ltd – Travel and Tourism – World” company profile to their offering.
The Travel and Tourism – easyGroup Ltd – World report offers a
comprehensive guide to the size and shape of the market at a national
level. It provides the latest market size data (2002-2007), allowing you
to identify the sectors driving growth. It identifies the leading
companies and offers strategic analysis of key factors influencing the
market – be they new legislative, technology or pricing issues.
Background information on disposable income, annual leave and holiday
taking habits is also included
Via Wines
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Louisiana Associated General Contractors: Baton Rouge as
New Orleans CityBusiness, Jun 9, 2009 by Christian Moises
Baton Rouge is seeing the second-highest job growth in the construction sector for a major region in the United States, according to an Associated General Contractors of America report last week.
While that may seem like a shock given the amount of construction work going on in the New Orleans area, Ken Naquin, CEO of the Louisiana Associated General Contractors, was not surprised.
“The work has not been let contractor pacific palisades post-Katrina like we’ve been hearing. We keep waiting for it,” Naquin said. “The (New Orleans) Sewerage and Water Board has let very little and the streets department has done very little work. And outside of the four schools let by the Recovery School District, the city has done nothing.”
Naquin said the Army Corps of Engineers has let some work, but those jobs are heavy-equipment oriented, which means there’s not a whole lot of people jobs.
“We keep waiting for the big tidal wave of work in the city of New Orleans post-Katrina,” he said, adding that the residential and commercial markets also have been very flat. “We keep hearing that New Orleans is on the cusp of letting their work. We met with the city’s administration last May, and they said they have a tidal wave of work coming that they can’t even mess up. Yet we’re still waiting in June 2009.”
The New Orleans area had 32,500 construction jobs in April, down 600 from March and equal to a year ago while the Baton Rouge area had 42,500 construction jobs, down 300 from March but up 2,900 over April 2008, according to the Louisiana Department of Labor.
Statewide, there were 140,000 positions, a 1,000 month-over- month increase and a 6,100 increase over the year.
Naquin pointed to two projects that are keeping the Baton Rouge area ahead of New Orleans: a $700 million Green Light Program to repairs streets throughout the city and a $1.2 billion sewage program.
With the amount of jobs these two projects are requiring, Naquin said that when the work does start in New Orleans, the two regions will not compete for workers.
“Our contractors in New Orleans are poised and ready for work. You don’t have to worry about work force.”
Baton Rouge outpaced the New Orleans area among heavy and civil engineering construction positions at 16,300, which was down 100 jobs from March but up 3,500 compared with April 2008
Global Ship Lease Provides Further Update on Credit Facility.
Canadian Corporate News, June, 2009
LONDON, ENGLAND, Jun 26, 2009 (Marketwire via COMTEX) — Global Ship Lease, Inc. (NYSE:GSL)(NYSE:GSL.U)(NYSE:GSL.WS), a containership charter owner, announced today that the Company has agreed with the lenders to extend its waiver for loan-to-value tests until July 31, 2009, during which time it expects to finalize an amendment to the $800 million credit facility. The Company was initially required to submit vessel valuations on April 30, 2009 and previously received a waiver until June 30, 2009 due to the challenges in the ship valuation environment. In connection with the agreement, Global Ship Lease will not pay dividends to common shareholders through July 31, 2009 and intends to review its dividend policy at the end of the waiver period
Natural disaster insurance and the equity-efficiency trade-off
Journal of Risk and Insurance, March, 2008 by Pierre Picard
ABSTRACT
This article investigates the role of private insurance in the prevention and mitigation of natural disasters. We characterize the equity-efficiency tradeoff faced by the policymakers under imperfect information about individual prevention costs. It is shown that a competitive insurance market with actuarial rate making and compensatory tax-subsidy transfers is likely to dominate regulated uniform insurance pricing rules or state-funded assistance schemes. The model illustrates how targeted tax cuts on insurance contracts can improve the incentives to prevention while compensating individuals with high prevention costs. The article highlights the complementarity between individual incentives through tax cuts and collective incentives through grants to the local jurisdictions where risk management plans are enforced.
INTRODUCTION
The last decades have witnessed the worlwide increasing frequency and intensity of weather-related disasters. Windstorms, typhoons, floods, landslides, and heatwaves were more and more frequent and we have experienced an upward trend in economic losses due to weather disasters, and an even stronger increase in insured losses. (1) These events may be the prelude to a still more critical evolution in the future insofar as climate change seems to play a major role in this evolution. (2) Minimizing the social cost of natural disasters should thus be ranked as a top priority in many industrialised countries and considered as an issue of the utmost importance for economic development and poverty reduction.
What can be the contribution of insurance to the management of natural hazards? In addition to risk pooling within a portfolio of insurance policies or risk spreading through reinsurance, cat bonds or other alternative risk transfer mechanisms, the insurance industry can help governments to create the right incentives for the mitigation of natural hazards. First, insurers may help assessing risks and providing information on risk exposure to individuals, corporations, and governments themselves. Insurers can also convey incentives for prevention through price signals. This may be done by charging risk-adjusted insurance premiums for property insurance or business interruption insurance in order to discourage the development of new housing or productive investment in hazard-prone areas or to incite property developers to comply with building codes. Likewise, insurers may offer crop insurance at affordable price for farming practices able to withstand climate instability (e.g., when farmers plant drought-resistant crop varieties).
However, using insurance pricing to mitigate natural disasters is not an easy task. First, individuals may prefer to rely on postdisaster assistance from governments or nongovernment organizations (NGOs) rather than paying an insurance premium to protect themselves against the consequences of natural hazards. (3) Second, property owners may not purchase disaster insurance because they underestimate their true loss probability. (4) Third, lower income consumers have difficulty affording insurance, and of course this obstacle is particularly important in developing countries
The Hampton Spy(TM) Launches With a Series of High Profile Parties and Unveiling of Celebrity Secret Agents(TM)
Market Wire, August, 2009
Datran Media, a leading digital marketing
technology company, today announced the launch of The Hampton Spy (TM), an online
publication and social media content community focused on enabling Hamptons
residents and enthusiasts to get inside access to information, buzz and
stories about life in the Hamptons, whether they are living it or simply
interested from afar. Former Hamptons Magazine Editor in Chief, Cindi Cook,
is at the publication’s editorial helm, while Datran Media’s Jeff Stier
serves as publisher.
The Hampton Spy is one of several digital content offerings that Datran
Media has launched to help connect leading advertisers with key “passion”
markets across the United States. The publication leverages Datran Media’s
targeted, intelligent email and display technologies to help advertisers
serve the right communications to the most relevant audience members.
The Hampton Spy is now inviting advertising partners and members of the
press to attend remaining launch parties, including the exclusive final
“Spy Wrap” party, which will include the unveiling of The Hampton Spy’s
Celebrity Secret Agents(TM). The Hampton Spy planted its well-known
Celebrity Secret Agents at parties throughout the Hamptons all summer.
These agents have communicated covert messages about exclusive parties and
events, a key driver of the publication’s growing audience.
According to The Hampton Spy’s Jeff Stier, “The Hampton Spy digital content
offerings include newsletter, Web site, Twitter and blog banner placements,
email advertising sponsorship placements, targeted display media buys,
audience measurement capabilities and exclusive event-based sponsorships.
We also bundle these offerings to provide advertisers with the most robust
way to connect with the Hamptons’ coveted resident and enthusiast audience.
Today’s audiences do not live offline. The Hampton Spy addresses this for
advertisers by providing them with multiple ways to communicate with their
online audiences. Advertisers additionally benefit from the fact that The
Hampton Spy’s parent, Datran Media, is the longtime leader in providing
advertisers with targeted ways to reach online audiences. This makes it
possible for advertisers to receive access to Datran Media’s Aperture
audience measurement tool, the only audience reporting solution that
delivers consumer profiles across all digital media spending based on third
party verified household level data.”
Editor in Chief Cindi Cook adds, “The Hamptons community is comprised of
year-round residents, summer visitors and remote fans. Each revels in
up-to-the-minute access to the summer’s hottest information from his or her
own unique perspective. It’s a much more diverse audience than many
perceive. Until the launch of The Hampton Spy, we were very reliant on
word-of-mouth tips from friends and event listings in our community papers
and magazines. This lasted long after the majority of us were online
tweeting, blogging and reading. The Hampton Spy collects much of the
information we historically consumed elsewhere, and strengthens it with the
aggregation of user-generated tweets via our Tweet Hampton Spy(TM) app to
provide a single point of access to everything the audience is seeking.”
Day & Night Restaurant Beach Club and PlumTV are both supporting the launch
of The Hampton Spy. This support includes PlumTV footage of weekly parties
held Friday evenings at Day & Night
Baked gifts perfect for Chanukah (and other occasions)
Washington Jewish Week, Dec 18, 2008 by Schockett, Joni
Nothing says lovin’ like something from the oven” was a cute little jingle I remember from many years ago. But I never thought much about it until I had kids and began baking with them.
It was such fun to be in the kitchen with them and watch their pride as they helped turn “yucky” (raw eggs) ingrethents into edible delights. I discovered that making cookies could turn a bad school day bright and a long afternoon of studying into something much more tolerable.
As they got older, I found that if I baked something, the kids would want to hang out at our house – not someone else’s. Since I always loved having my kids’ friends over, I took to the kitchen as soon as a kid asked, “Can I have some friends over?”
Soon, I was baking gifts for every occasion. I always made something appropriate for the occasion, like Apple-Date Muffins for a new mom (to help get through those 3 a.m. feedings). For dinner hosts, I’d make something the family could enjoy anotiier time, that wouldn’t interfere with the dinner (like dairy cookies when I knew we were having a fleishig meal). I would wrap the gifts in pretty cellophane paper and ribbon and always include the recipe
Weddings
Huddersfield Daily Examiner (Huddersfield, England), August 24, 2009
Mr C Cooper – Miss T Barrett
Miss Teresa Barrett and Mr Chris Cooper were married at St John’s Church, Golcar.
The bride is the daughter of Marion and Michael Greensides, of Golcar, and the bridegroom is the son of Janet and Alan Cooper, of Barnsley. The ceremony was conducted by the Rev Martin Crompton. The best man was Richard Lane and the bridesmaids were Keri Storrs, Kerri Whitham, Jenny Sanger, Katrina and Megan Barrett-Cooper, the couple’s daughters, and Sara Gajra-Barrett, the bride’s niece. The reception was held at the Pennine Manor Hotel, Scapegoat Hill. The couple will honeymoon in Spain.
Mr M Ellis – Miss M Daly
Miss M Daly and Mr Mark Ellis were married at St Joseph’s Catholic Church, Aspley. The bride is the daughter of Sean and Bridie Daly, of Co Galway.
The ceremony was performed by Fr Aveyard.
The best man was David Ellis, the bridegroom’s brother, and the groomsmen were David Sykes and Sean Woolly. The bridesmaids were Sarah Jane Robinson, the bride’s sister and Kathryn Jayne Wake, the bride’s niece.
The reception was held at Dalton Grange, Huddersfield. The couple will honeymoon in Las Vegas.
Mr C Sykes – Miss D Horner
Miss Deborah Horner and Mr Christopher Sykes were married in Kenya. The bride is the daughter of David Horner, of Shepley, and Barbara Horner, of Dalton, and the bridegroom is the son of Audrey Sykes, of Dewsbury, and the late Derek Sykes. The witnesses were the bride’s mother and the bride’s daughter, Danielle Dyson.
Mr K M Collins – Miss D Illingworth
Miss Dawn Illingworth and Mr Kevin Mark Collins were married at Huddersfield Register Office. The bride is the daughter of Pamela Burns and Paul Illingworth and the bridegroom is the son of Mick and Avril Collins.
The best man was Paul Collins, and the bridesmaids were Ronelle, Tyler and Rebecca Illingworth, the bride’s daughters.
The couple spent their honeymoon in Prague.
Mr J Dunn – Miss L C Topping
Miss Louise Caroline Topping and Mr John Dunn were married at Christ Church, Linthwaite.
The bride is the daughter of Richard and Julie Topping, of Warneford Road, Cowlersley, and the bridegroom is the son of John and Sandra Dunn, of Doncaster.
The best man was Andrew Sykes and the ushers were Martin Garcier and Nikki Walker.
The bridesmaids were Melanie Pattison, the bride’s sister, wedding videography new york Sara Black and Claire Neal. The flower girl was Millie-Rose Bracken.
The couple will honeymoon in Thailand.
Mr J P Carter – Miss C A Hinchliffe
Miss Carrie Alexia Hinchliffe and Mr Jason Paul Carter were married at St Bartholomew’s Church, Meltham