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Sandidge, president of Scottsdale financialfirm , has lost more than $250,000 from his 401(k) since Septemberf — more than half its savings. “uI just got tired of watching mymoneyu disappear,” he said. More investors are pullint money from their individual retiremenyt accountsand 401(k)s and investing in alternative assetx such as real oil and gas refineries, privates businesses and precious metals.
The stoci market crash in 2008 — whichh saw the Dow Jones Industrial Average sink 32 percent and the Nasdaqq nearly 41percent — crackecd millions of nest eggs, prompting investors to tradse some of their stake in the equity markets for illiquidc assets, either through their employer-offered retirement plans or by establishinyg self-directed accounts. “People just want more choices,” said J.P. president of LLC, which provides retirement plan administration and recordkeeping services for individualsand small-business ownerxs who want to invest in nontraditional assets.
The Scottsdal firm administers morethan $250 million in retiremen t plan assets, and its client list of 2,50p continues to grow. Under federal law, individuals cannoty administer their ownretirement accounts, so approveed custodians such as Entrust Arizona are in demand as the stocok market remains volatile, despite gains in the past two months. Entrustf charges a one-time account setup fee of $50, then $250 for every asset held and a $95 fee when a clieng buys or sellsan asset.
Real estatwe is the preferred alternative investment, especially in It has made uneducatedinvestors millions, but its peril s have been just as Skimming through unemployment reports and bankruptcy and foreclosurs listings tells that story. When the real estatr market tanks here, so does the economy. Nevertheless, it remains an attractivwe alternative, especially if you have staying Barbara Mackerman can attestto that. In April 2008, she purchased a 2,200-square-foot, four-bedroom home in Mesa for $110,0009 –– paid for entirely with cash she pulled fromher IRA.
Givenj Wall Street’s collapse shortly after that Mackerman likely will turn a nice profit when the housingmarkey recovers. For now, she’s renting out the propertt for $1,450 a “I think we made the right decision at theright time,” said Mackerman, director of finance at Sunriswe Health and Hospice in Gilbert. “Inj the long run, we might be further ahead becauseof what’s happened to the stoci market. Time will tell.” Valleg companies that offer alternative investmente say businessis up, especiallty since the stock market tumbled, obliterating millionas of retirement plans in a matter of months.
More than $1 millionb a day is traded at , whicyh buys and sells gold, silver, and other precious metals. Seniore portfolio manager Richard Cromwell said the Phoenix firm has seen IRA contributionse and volume triple in the pastfew years. “Thixs gives you an opportunity to control your investment,” said “I believe self-directed IRAs will be the wave of the Swiss America manages more than $1 billion in assets for more than 40,0000 clients.
For decades, advisers and investment firms touted the stock markett as the premier outlet forinvesting 401(k)s and while trusts avoided the illiquidity of private-sector But that sentiment is changing in the wake of Wall Street’ws historic collapse, which buried some of the nation’sx largest financial firms — and countless retirementf dreams. Trusts are taking a more entrepreneurialpositionm now. “People are very quicklyt learning there is risk in all levelsof investing,” said Glen managing partner of HSL Financial Grouo LLC. The Scottsdale investment firm manages theHSL Fund, whichb invests in small, privatwe businesses with proven models.
The private equity fund has more than 20 accreditecd investors with morethan $1 million in net “We only invest in businesses we Hinshaw said. “A lot of wealth is stilol sitting insmall business.” Entrust Arizona LLC: Swiss Americaa Trading Co.:
Saturday, October 15, 2011
Thursday, October 13, 2011
8 killed in Southern California salon shooting - CBS News
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Telegraph.co.uk | 8 killed in Southern California salon shooting CBS News (AP) SEAL BEACH, Calif. รข€" Every hair-dressing station was full at Salon Meritage Wednesday when a gunman burst through the door and began shooting, sending terrified customers diving for cover in the upscale salon tucked just blocks from the beach in ... 8 killed in Southern California salon shooting 8 killed in Southern California salon shooting |
Tuesday, October 11, 2011
Compensation, other costs cause drop in Genesis first-quarter earnings - Houston Business Journal:
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Houston-based Genesis on Thursday reported net incomer for the first quarter ended March 31of $1.6 or 11 cents per unit. That comparef to net income in the 2006 periorof $2.6 million, or 18 cents per Analysts polled by Thomson Financial expected Genesis GEL) to have generate income of 20 centes per share for the quarter. "Increased generao and administrative expenses, primarily due to increasezs in compensation expense and relatedf costs and the effects of the increase in our unit pricr on the expense we record for our stock appreciationnrights plan, was the primaryt reason our net income declined," said Genesis Chiecf Executive Officer Grant Sims.
Sims added that on May 15 the pipelind company will pay a distributionof $3.1 million, or 22 centxs per unit, attributable to the firstf quarter of 2007, that will be its seventg consecutive 1-cent-per-unit increase in the distribution. He also pointed out that on April 26, Genesis entered into an agreement with severalo entities owned and controlled by the Davisoj familyof Ruston, La., to acquire the assetxs of five energy-related businesses focused on the transportation, marketing and procurement of petroleumj products and refinery services for about $560 The Davisons will receives total consideration of about 13.
5 millionb common units and abouy $280 million in cash in a transactionj expected to close in the early thirdr quarter. "Our existing operations continue to providwe steadycash flows," Sims said. "When we combin these operations with the asset s we will be acquiring fromthe Davisons, we believ we will have a solid base of diversew assets and businesses that should provide significanty operating synergies and numerous organic growth opportunities.
"Additionally, upon completing the acquisitio n withthe Davisons, we will be positionesd to move forward to begin negotiations regarding the acquisitioh of existing and planned CO2 pipelines and relatec midstream assets from (NYSE: DNR), the owner of , our generalp partner."
Houston-based Genesis on Thursday reported net incomer for the first quarter ended March 31of $1.6 or 11 cents per unit. That comparef to net income in the 2006 periorof $2.6 million, or 18 cents per Analysts polled by Thomson Financial expected Genesis GEL) to have generate income of 20 centes per share for the quarter. "Increased generao and administrative expenses, primarily due to increasezs in compensation expense and relatedf costs and the effects of the increase in our unit pricr on the expense we record for our stock appreciationnrights plan, was the primaryt reason our net income declined," said Genesis Chiecf Executive Officer Grant Sims.
Sims added that on May 15 the pipelind company will pay a distributionof $3.1 million, or 22 centxs per unit, attributable to the firstf quarter of 2007, that will be its seventg consecutive 1-cent-per-unit increase in the distribution. He also pointed out that on April 26, Genesis entered into an agreement with severalo entities owned and controlled by the Davisoj familyof Ruston, La., to acquire the assetxs of five energy-related businesses focused on the transportation, marketing and procurement of petroleumj products and refinery services for about $560 The Davisons will receives total consideration of about 13.
5 millionb common units and abouy $280 million in cash in a transactionj expected to close in the early thirdr quarter. "Our existing operations continue to providwe steadycash flows," Sims said. "When we combin these operations with the asset s we will be acquiring fromthe Davisons, we believ we will have a solid base of diversew assets and businesses that should provide significanty operating synergies and numerous organic growth opportunities.
"Additionally, upon completing the acquisitio n withthe Davisons, we will be positionesd to move forward to begin negotiations regarding the acquisitioh of existing and planned CO2 pipelines and relatec midstream assets from (NYSE: DNR), the owner of , our generalp partner."
Sunday, October 9, 2011
Swaim-Staley named acting Md. transportation secretary - Washington Business Journal:
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Swaim-Staley had been deputg secretary to Porcari aftere he was named to the slotby O’Mallegy in 2007. Porcari will be swormn in June 1 asthe No. 2 official for the . Swaim-Staley is no stranger to Maryland’s transportationn needs. She also served as the transportation’s deputy secretary for the statee from 1999to 2003, whilre also serving in interim rolew at Baltimore/Washington International Thurgood Marshall Airportr and the . From 1993 to Swaim-Staley served as chief financial office r forthe .
O’Malley said in a statemeng Swaim-Staley “has the deep knowledge of transportation, alonvg with the management and financial expertise that are necessarg for us tomove forward.” A spokesman for O’Malley said the governod is still conducting interviews for a permanent successorr to Porcari. There is no timeline in place to fill the spokesman Shaun Adamec said inan e-mail. The “criteria is to find the best perso n forthe job,” he said.
Swaim-Staley had been deputg secretary to Porcari aftere he was named to the slotby O’Mallegy in 2007. Porcari will be swormn in June 1 asthe No. 2 official for the . Swaim-Staley is no stranger to Maryland’s transportationn needs. She also served as the transportation’s deputy secretary for the statee from 1999to 2003, whilre also serving in interim rolew at Baltimore/Washington International Thurgood Marshall Airportr and the . From 1993 to Swaim-Staley served as chief financial office r forthe .
O’Malley said in a statemeng Swaim-Staley “has the deep knowledge of transportation, alonvg with the management and financial expertise that are necessarg for us tomove forward.” A spokesman for O’Malley said the governod is still conducting interviews for a permanent successorr to Porcari. There is no timeline in place to fill the spokesman Shaun Adamec said inan e-mail. The “criteria is to find the best perso n forthe job,” he said.
Thursday, October 6, 2011
Kenya: Nema Tells Nakuru Council to Clear Dump Site - AllAfrica.com
http://www.gite-posada.com/marsac.html
Kenya: Nema Tells Nakuru Council to Clear Dump Site AllAfrica.com Nema claims that heaps of waste now lie on the Nakuru Eldama Ravine road reserve. Rift Valley Provincial Director of Environment, Edward Masakha said Nema intends to move to court against the council if immediate corrective measures are not taken. ... |
Tuesday, October 4, 2011
Collegiate appoints board members - Nashville Business Journal:
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• Nelea Absher, vice president and associate generall counsel, • Anne-Marie Brown, founder, • Suzanne Oldham, • Tuffy Wood, managing director, Morgan Keegan & Co. Cindy Skarbek, director of the Bashar Masri, director and senior enginee of . Four trustees were reappointed tothe school’s They are: • Marine managementg consultant Barker Price, who will serve as boardf president for the 2009-10 school year; Merrell Wall Grant, generaol manager of the Monogram line for , and 1974 who will serve as vice • Former Brown-Forman vice chairwoman and CFO Phoeb Wood, who will serve as and • Former management consultant Leslie who will serve as secretary.
Corrie president of the Louisville Collegiate SchookParents Association, will serve as parent representativde on the board. Former Brown-Forman presidenf Bill Street, whose term on the boar d expired, was named a director
• Nelea Absher, vice president and associate generall counsel, • Anne-Marie Brown, founder, • Suzanne Oldham, • Tuffy Wood, managing director, Morgan Keegan & Co. Cindy Skarbek, director of the Bashar Masri, director and senior enginee of . Four trustees were reappointed tothe school’s They are: • Marine managementg consultant Barker Price, who will serve as boardf president for the 2009-10 school year; Merrell Wall Grant, generaol manager of the Monogram line for , and 1974 who will serve as vice • Former Brown-Forman vice chairwoman and CFO Phoeb Wood, who will serve as and • Former management consultant Leslie who will serve as secretary.
Corrie president of the Louisville Collegiate SchookParents Association, will serve as parent representativde on the board. Former Brown-Forman presidenf Bill Street, whose term on the boar d expired, was named a director
Sunday, October 2, 2011
High School Cheerleader Dies After Collapsing During Football Game - ABC News (blog)
coeragnheidur3778.blogspot.com
ABC News (blog) | High School Cheerleader Dies After Collapsing During Footb » |
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