Student debt

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Ninety-four percent of students who earn a bachelor’s degree borrow to pay for higher education. This is up from the 1993 statistics that show only 45 percent of students borrowed money to pay for a bachelor’s degree. This borrowing includes loans from the federal government, private lenders and relatives. Questions: 1. Explain why Rajeev V…. Read more »

Insulting Discounts: The Costa Concordia Saga

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The owners of the Costa Concordia are offering survivors of the disaster a 30 percent discount off future cruises as they battle to stave off law suits expected to cost hundreds of millions of pounds. As the body of a 12th victim was found inside the hull of the £370 million, 1,000 ft vessel, survivors… Read more »

Kraft Cuts Jobs

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Kraft Foods Inc. will cut 1,600 positions in North America as it prepares to split its business in two. The company announced in August that it would split into two independent companies: a global snacks business and North American grocery business. Kraft said the moves are needed to help the businesses run more effectively. Questions:… Read more »

How do you lose $1.2 Billion?

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Three of MF Global Holdings Ltd.’s top executives said they didn’t know what happened to as much as $1.2 billion in client funds that went missing in the days before the New York-based brokerage filed for bankruptcy. Jon S. Corzine, former chairman and chief executive officer of the broker testified in Congress that he didn’t… Read more »

Tickets, Anyone?

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Ticketmaster’s various fees and surcharges, which sometimes add 40 percent or more to the cost of a ticket, have long infuriated its customers. But next year, thanks to a recent class-action settlement, many of those fans will be able to get some money back. Questions: 1. According to the article, what are the two types… Read more »

The Big Bank of America Settlement

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On November 7, 2011, a federal judge gave final approval to a $410 million settlement in a class-action lawsuit affecting more than 13 million Bank of America customers who had debit card overdrafts during the past decade.  The settlement became final a week after Charlotte, N.C.-based Bank of America backed off a plan to charge… Read more »

“Gettysburg” Debt

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Ron Maxwell, the director of two acclaimed Civil War movies, has not repaid a $300,000 loan from 2002 to Washington County Maryland and county officials aren’t happy with the pace of his repayments. The loan, which came with a 4.5 percent annual interest rate, was supposed to be paid off in 2010. However, the Herald-Mail… Read more »

Huge job cuts – Bank of America

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Bank of America, trying to break free from a pile of bad mortgages and a sagging stock price, announced plans to lay off 30,000 employees over the next few years. In a statement Monday, the bank said its goal is “not a given number of job reductions,” but to focus “all of its resources on… Read more »

Who’s Next?

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The struggling town of Central Falls Rhode Island filed a bankruptcy petition on Monday, August 1. A Boston bankruptcy judge held the first hearing on Wednesday August 3, stressing that the court is in “unchartered waters” as it sorts through the $80 million in unfunded pension and benefits liabilities and a $5 million budget deficit…. Read more »

Negotiating Down Student Loans

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According to these experts, it is possible that you can negotiate down your student loans. Outstanding student loan debt is a major problem for many graduates. It is possible to negotiate with your creditors and possibly reduce or even eliminate your student loan debt. If you’re not up to the negotiations yourself, you can hire… Read more »