| FINANCE: Cornerstone declares bonus dividend for 4th quarter
Cornerstone Community Federal Credit Union is giving a little something back to its members.The board of directors of the credit union announced Monday that its members will receive a bonus dividend for the fourth quarter of 2007. The bonus dividends total more than $488,000, which will be given to the 43,000 members of the credit union."Credit unions are non-profit, so any extra money we make is given back to the members," said Bethann Kibby, marketing assistant at Cornerstone. "We had a very good year, and we're giving back almost half a million."A bonus dividend is the extra interest that is earned on a savings account a member has with the credit union. Members will receive a bonus dividend of 1.5 percent annual percentage yield on all regular share accounts with the credit union (including business accounts).
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It's the year of the buyer: is it time to make your move?
Shop around for the best deal you can and remember the lowest rate isn't necessarily the best one for you. Look at www.itsyourmoney.ie for advice on choosing a mortgage. 2 If you are trading up or down, think hard about buying before you sell. In this market, most financial advisors would caution against it. When the market was moving fast and upwards people could buy - even at the "no going back" method of auction - with the happy knowledge that they would be able to sell their own house in a very short time frame. That is no longer the case. Plus, bridging finance - a short term loan to finance a purchase before a sale has gone through - is now almost unheard of with the result that last year some unfortunate buyers found themselves paying two mortgages, one on their new house, the other on their old house which was refusing to budge.
Treasury secretary pushes Senate to act on economic package
The White House is trying to strike a balance _ respecting the right of the Senate to influence the legislation, but keeping the pressure on so that no momentum is lost in giving a boost to a sagging economy. The administration hopes to start getting rebate checks out in May, assuming that Congress acts in the next few weeks. Paulson said the economic program would boost job creation, consumer spending and confidence in the stock market. In another appeal to Congress, Paulson said: "Bipartisan agreement _ implemented _ I think will show the American people that Republicans and Democrats are putting the economic security of the American people ahead of their own political interests." Among others offering views on the economic plan, Republican presidential contender Mike Huckabee said Sunday it should include money for public works.
Reid Praises Limbaugh For Record EBay Letter Sale
Sen. Majority Leader Harry Reid is no fan of Rush Limbaugh, but the Nevada Democrat praised the conservative radio talk-show host on the Senate floor Friday for raising more than $2 million for charity â€" by auctioning on eBay a letter in which Reid condemns Limbaugh. "I think it's really good that this money on eBay is going to be raised for this purpose," Reid said. "Everyone knows that Rush Limbaugh and I don't agree on everything in life, and maybe that is kind of an understatement. "But without qualification Mark Mays, the owner of the [Clear Channel Communications] network … [and] Rush Limbaugh should know that this letter that they're auctioning is going to be something that raises money for a worthwhile cause." Limbaugh has pledged to donate the auction proceeds to the Marine Corps-Law Enforcement Foundation, which provides financial assistance to the children of fallen Marines and federal law enforcement officers.
British Tycoon Held In Zimbabwe
British property tycoon Nicholas van Hoogstraten has been arrested in Zimbabwe on currency and pornography charges, official media reported. Police raided the 64-year-old's home in northern Harare following a tip-off that he received rent for houses, apartments and shops he owns in Zimbabwe in hard currency, state radio reported. During the swoop on Thursday, police found pornographic material featuring Van Hoogstraten and a 22-year-old Zimbabwean woman. The alleged offences carry the penalty of a fine and forfeiture of money held in violation of the nation's currency laws. State radio said Van Hoogstraten was found with about 35,000 US dollars (£17,700), small amounts of other hard currencies and 20 billion Zimbabwe dollars in cash - worth about 5,000 US dollars (£2,525) at the dominant illegal black market exchange rate.
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