Investment Financial

Stocks were down again today as the Federal Reserve warned of an impending fiscal tightening, and the situation in Greece remained unresolved.  In corporate news, J. C. Penney (JCP) took $163 million in losses in Q1. Southwest Airlines (LUV) had to delay delivery on 30 jets in order to save an estimated $1 billion.

Word on the Street

• The situation in Greece and pessimistic statements from the Fed sent stocks down today.
• The FTC is fining Sketchers $40 million for its misleading statements.
• Oil is at a 6-month low.
• The Federal Reserve is concerned about a “fiscal tightening”.
• J. C. Penn

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Americans have been in a debt-slashing mood ever since the onset of the financial crisis in September 2008 and they have been especially keen on paying down their credit card balances. The aggregate amount of credit card debt in the U.S. has been continually falling since the collapse of Lehman Brothers. It is now well below its pre-recession level and it has been surpassed by the student debt total for a first time ever.

Weve been tracking the various credit card statistics in real time on this blog, but I thought that we could all benefit from a summary of what has taken place so far and from some historical perspective.

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It might just be time to buy that home of your dreams or refinance your existing mortgage. According to a Freddie Mac survey released May 3, average rates for a number of fixed and adjustable rate mortgages hit record lows last week, creating a significant savings opportunity for refinancers and prospective homebuyers who’ve recovered sufficiently from the negative effects of the Great Recession.

Ok, but how much savings are we talking here?

Well, a 1% lower interest rate can save a consumer literally tens of thousands of dollars over the life of a mortgage. M

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I was asked by the excellent folks at Grind, a co-working space near our offices, to give a talk in their monthly #Rethink breakfast talk series. I am drawn to the idea of a #rethink hashtag. Its a good mental exercise. So I said I would do the talk and that Id like to #rethink the VC industry.

I gave the talk yesterday and William storified it. And there was some blog coverage of the talk yesterday. I started out the talk by stating that I was “thinking outloud in realtime and that my remarks should be taken as such”.

At some point yesterday I see the words “death of the VC business” in my twitter stream with my name attached to it.

Fred Wilson and the death of venture capital.

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I have a challenge for you. No Im not going to ask you to stay off Facebok for three days or to do some crazy ten day fast where you dont eat any food. I want us to make more money together this summer. I want us to work together to reach our goals. I want to see you with more money in your pocket.

I challenge you to try to make $5,000 from freelancing this summer.

A few months back I wrote about what you need to know about freelancing. Once the post went public I realized that I really enjoy freelancing myself and helping others get into freelance work.

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Secure Application CREDITSHOUT RATING: Very Good Verdict: The British Airways Visa Signature Card is generous with its rewards program, giving cardholders the chance to build up a significant number of miles at a quick pace. However, the fact that cardholders may pay high taxes, fees and surcharges when cashing in on their rewards is something to be aware of. However for those of you who like free flights, the 100,000 mile sign up bonus offered by Chase is an offer that we find almost impossible to resist.

Apply For British Airways Visa Signature Card®

British Airways Visa Signature Card Overview

The British Airways Visa Signature card comes with an excellent upfront bonus of up to 100,000 miles, which are also called “Avios.” It also has many other high-quality travel rewards. Howe

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