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Assembly Speaker Sheldon Silver proposes boosting minimum wage to $8.50

Assembly Speaker Sheldon Silver proposes boosting minimum wage to $8.50 ALBANY, N.Y. (AP) The top Democrat in New Yorks Legislature began pushing legislation Monday to boost the states minimum wage from $7.25 to $8.50 an hour and then link future increases to the inflation rate.

Assembly Speaker Sheldon Silver, joined by dozens of colleagues from his chamber controlled by Democrats, said census data show nearly half of the U.S. population has fallen into poverty or joined the ranks of the working poor. He said New Yorks minimum wage has risen 10 cents in the last six years, it is lower here than in 18 other states, and increasing it is a matter of human dignity.

Gov.

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Tags: Boosting Minimum, Boosting Minimum Wage, Minimum Wage, Wage

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Yukon-Nevada Gold Corp’s quarterly loss narrowed as it gained from warrants

Yukon-Nevada Gold Corp said its quarterly loss narrowed as it gained from warrants.

The company, which recorded an $8.5 million gain in warrants recorded as derivative liabilities, narrowed its third-quarter net loss to $18 million from $103.8 million a year ago.

The company which owns silver, gold, zinc and copper assets in Canadas Yukon territory and British Columbia, and in Nevada in the United States increased quarterly production to 21,296 ounces of gold from 18,636 ounces a year ago.

Yukon sold 18,035 ounces of gold at an average gold price of $1,670 per ounce.

Shares of the company closed at 36.5 Canadian cents on Friday on the Toronto Stock Exchange. Reuters

Tags: Loss Narrowed, Quarterly Loss, Quarterly Loss Narrowed, Warrants

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Google to unify privacy policy across products

Google Inc. GOOG-Q said it will revamp its privacy policy and terms of service to unify the policy across a wide array of its online offerings to make it shorter and more uniform.

The online search giant said on its official blog that it expects to roll out the revised guidelines in over a month’s time, consolidating more than 60 separate privacy policies it is using for a range of its online products.

Google said it has currently more than 70 privacy policies covering all of its products.

The announcement comes days after Google’s decision to personalize its search feature drew a storm of controversy by critics concerned by privacy and anti-trust issues.

U.S. reg

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Tags: Policy, Privacy Policy

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Car loan default – what, when and how?

Technically, a car loan default happens when a customer repeatedly fails to make the agreed car loan payments to the lender/bank that lent the money for its purchase. But is there a prescribed number of payment failure mentioned? Yes. Usually, the car loan agreement that you signed with your lender/bank will have these terms clearly spelt out.

Probably the next big thing on your monthly budgets after the mortgage loan is the car loan. And you would not want to default on this for obvious reasons. One, it will destroy your credit history and two you might lose your car to the repo man! But when does a default actually happen? Does making a deferred or skipping the payment for a month or so constitute a default?

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Tags: Car Loan, Car Loan Default, Loan Default, When

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$25 billion mortgage settlement in works

The five banks— Bank of America, JPMorgan Chase, Wells Fargo, Citibank and Ally Financial, all major mortgage lenders in Georgia — and the state attorneys general could adopt the agreement within weeks, the Associated Press reported Monday, citing unnamed government officials briefed on the discussions.

The agreement could change mortgage lending guidelines and make it easier for those at risk of foreclosure to restructure loans. About 1 million homeowners could see the size of their mortgages reduced.

Those who lost homes to foreclosure are unlikely to get homes back or benefit much financially from the settlement. About 750,000 Americans affected by deceptive practices will likely receive checks for about $1,800, the AP reported.

Criteria for deciding who gets a principal reduction or payment aren’t yet known.

It would be the biggest settlement with a single industry since the 1998 multistate tobacco deal.

Georgia had the fourth highest rate of foreclosure filings in the U.S. las

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Tags: Billion Mortgage, Mortgage

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