Saturday 24 December 2011

Bath looking for home comforts after European exit

By guardian.co.uk,
The millions pumped in by the club's new owner are clearly being put to use. The only thing missing is the team
Bath's Ryan Caldwell looks dejected after their Heineken Cup defeat against Leinster. The team hope to make amends against Northampton. Photo: Julien Behal/PA
At first glance there is much to admire about Bath's stately headquarters, Hungerford House, set in sculptured grounds in north Somerset. The deer park has been levelled to make a second training pitch, skilled tradesmen are making a fine job of converting the chapel into a gymnasium and a 20ft Christmas tree fits into the main lobby – a panelled hall, which sits alongside another panelled room used by the physios – with plenty to spare.
It may be more Brideshead than Kingsholm, but Bruce Craig's millions are clearly being put to use. The only thing missing is the team. This week they have retreated to the much-maligned former training ground 20 minutes' drive away at Lambridge – a square of flood plain bounded by the road to London and the Avon. That is when the river does not cover the entire ground.
Lambridge, where some players of the club's golden (amateur) era refused to train when it was wet, is once again where Bath are preparing for top-flight rugby, such as Saturday's game at Northampton, because one deer-park pitch is too wet and the other is not yet up to scratch. This is hard to believe, but is part of what Martin Haag calls the difference between perception and reality at Bath these days.
The first-team coach, who spent most of his playing career training at Lambridge, says it is easy to be confused by the depth of Craig's pockets. "There is this perception about us that we have this huge amount of money and fantastic facilities. You come to this place and it's a fantastic environment in which to train. But you haven't been round the back to see the gym's not quite ready yet and the players have to get changed in the big hall.
"We are not pampered here," says the former second-row who, as one of Sir Ian McGeechan's lieutenants, has just been preparing the squad for Saturday's first leg in a pivotal three games over Christmas and New Year. After Northampton, who are acquiring momentum after a poor start to the season, come London Irish, in one of the four play-off positions. And then there are Saracens, at present second behind the runaway league leaders and current European darlings, Harlequins.
Get the next few weeks right and Bath can get a lift from their lowly 10th spot in the league. First, though, they have to put behind them the hangover of a comprehensive defeat last weekend by Leinster, which opened the exit door from the Heineken Cup and gave Bath a good idea of where they stand in the European pecking order.
When Craig bought Bath from Andrew Brownsword 20 months ago, the new owner made joining the European aristocracy one of his targets along with setting a deadline of one year in which to find an answer to that intractable problem about where Bath should play their rugby: at the Rec, their run-down home for the past 116 years or on one of two new sites which had been identified and on which Craig envisaged an all-seat stadium for 20,000.
Craig certainly has the money, having sold Marken, an international distributions services company for the pharmaceutical industry, for £975m, but almost two years on nothing concrete has yet been decided about the Rec – even though, it is said, headway is being made – and in Dublin last Saturday night his team suffered their biggest defeat in the Heineken Cup.
The champions of 1998, who beat Brive by a single point in Bordeaux to take the cup, suffered a seven-try beating in front of 40,000 Irish fans at the splendidly futuristic Aviva Stadium in Dublin. Following a run of five defeats in six matches, Dublin has provoked a lot of hard thinking in the austere, Gothic headquarters at Farleigh Hungerford, although Haag insists not everything is doom and gloom.
"It wasn't one to dwell on too much," Haag says. "We have got to keep believing. With all our game it's always evolving and there are things that we have worked on in the last few weeks that we can see are improving in the game."
He also insists Craig, who was pretty quick to shift the previous head coach, Steve Meehan, still has confidence in McGeechan, his director of rugby, and the coaching staff. "He's involved in that he is very committed to this club," Haag says. "He talks on a regular basis with the coaches and he watches a lot of games."
But is he happy? After all, in Meehan's past two seasons at the club, Bath finished fifth on both occasions and that clearly was not good enough. "He's probably like the coaches and players and he's not happy because we have not performed for whatever reason."
One of those reasons, says Haag, is that Bath are plagued with injuries: 16 in the sick bay when they went to Dublin. Preparing for Europe, he says, is not difficult, "but it is difficult when you've only got one hooker fit and you've got a prop covering hooker … and your openside flanker is your reserve hooker and throwing in. It's not tough when you've got everyone fit and you're flying."
But surely Craig's bank balance could buy Bath out of trouble? Not so, says Haag, who again cites the difference between perception and reality. Yes, extending squads by possibly six players would help any English club compete in Europe but, he adds: "There is a salary cap. Are we paying £8m – £4m over salary cap? No we are not.
"There is this perception that any player who is any good is going to sign for Bath. Unfortunately that is not the truth. We are very happy with our squad. We always need to look at strengthening it when we can, but there are rules and regulations and we stick to those. We are on the same even keel as anyone else."
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Payroll tax cut may hurt housing market


To pay for the two-month payroll tax cut, a small fee will be levied for a decade on all mortgages sold to Fannie Mae and Freddie Mac. That also makes it harder to overhaul the housing finance system.
A “sale pending” sign sits outside a home in San Rafael, Calif. The new mortgage fee may make loans unaffordable for some people, but the effect probably would be modest, banking analyst Bert Ely said. (Justin Sullivan, Getty Images / December 24, 2011)

The new mortgage fee to fund the temporary extension of the payroll tax cut could damp the still-sluggish real estate market and complicate efforts to overhaul the nation's wounded housing finance system.
Even though the tax cut approved Friday extends for only two months, a small fee on loan amounts will be levied for a decade on all mortgages sold to housing finance giants Fannie Mae and Freddie Mac, which control about 60% of the nation's mortgage market.
That fee arrangement also makes it difficult for Congress to work on efforts to shut down Fannie and Freddie, which federal regulators seized three years ago with a taxpayer bailout now estimated to total about $150 billion.
Based on prevailing rates for a 30-year fixed-rate loan, a homeowner borrowing $200,000 would pay about $4,000 more if the loan were sold to Fannie or Freddie. That would raise the mortgage payment about $11 a month for the life of the loan.
"Housing doesn't need any more speed bumps, and this is a speed bump," said Jaret Seiberg, senior financial policy analyst at Guggenheim Partners in Washington. "It's not a big one, but every extra penny that it costs to finance a home puts that much more downward pressure on home prices."
The collapse of the housing market triggered the Great Recession and led to a wave of foreclosures as housing prices plummeted nationally. The market has been struggling to recover amid weak economic growth and high unemployment.
The fee may make a new loan unaffordable for some people, but the effect probably would be modest, said banking analyst Bert Ely of Alexandria, Va. The bigger effect will be on the government's ability to overhaul the housing finance system, which most analysts said is needed.
"This really complicates what you do with Fannie and Freddie down the road," Ely said.
The Obama administration and some analysts have called for Fannie Mae and Freddie Mac to raise their fees to make it easier for private companies to compete with them. Because Fannie and Freddie are owned by the government, investors view the mortgage-backed securities they create as safer investments than those offered by private firms.
David Stevens, president of the Mortgage Bankers Assn., said a fee increase would be fine — if the money were used to offset losses at Fannie and Freddie. But diverting the money to other government uses is a bad idea, he said.
"These institutions, which have been so costly to Americans and are so necessary to the housing recovery … should not be the piggy bank for future arbitrary tax policy," Stevens said.
"We understand the desire by Congress to extend the payroll tax [cut] because so many Americans are hurting right now," he said. "But the cost of that is going to be directly paid for by a whole other set of Americans who use Fannie Mae and Freddie Mac for their mortgages."
This month, the mortgage bankers group joined with the National Assn. of Home Builders and the National Assn. of Realtors in urging lawmakers not to use the fee to pay for the extension package.
Edward DeMarco, the acting director of the Federal Housing Finance Agency, which oversees Fannie Mae and Freddie Mac, also raised concerns.
He said the government reliance on long-term revenue from the firms seemed inconsistent with the need to end the conservatorship and overhaul the housing finance system.
The agency did not comment on the legislation, which President Obama quickly signed Friday.
The housing finance agency will announce soon when it will implement the fee, spokeswoman Corinne Russell said. The law allows the agency to phase in the fee over two years.
Congress and the White House agreed on the fee as a way to pay for the extensions without finding spending cuts or tax increases to offset the cost.
But some lawmakers criticized the money-raising move. Rep. Tom McClintock (R-Granite Bay) called it "atrocious public policy."
"It shifts the burden for this bill to future home buyers, kicks the housing market when it's already down, makes it that much more expensive for home buyers to reenter the market and adds to the pressures that have chronically depressed everyone's home values," he said.
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How to make idle money work for you, not others

By Arjun Parthasarathy
Idle money is as good as burning it. It does not give pleasure to anyone. Rather than burning money or keeping it idle, you may as well spend it or use it to speculate, gamble, so on. At least, such activities give a brief moment of pleasure, don’t they?
Idle money does not work for you. Instead, it works for others. For example, if money is left idle in a savings account in a bank, which until recently was earning around 3% (now it is around 7% at Yes Bank), for more than six months, you have lost out on earning 8% by not placing it in a fixed deposit with the same bank.
In absolute terms, idle money of Rs1 lakh would have earned Rs1,500 for six months (assuming 3% interest rate) in a savings account. But, if you had placed the same money in a fixed deposit at 8%, you would have earned Rs4,000 for six months. In effect, you may have binned Rs2,500 while the bank would ‘save’ Rs2,500 because you let the money lie idle in the savings account.
Article continues below the advertisement...You could have earned and spent the extra Rs2,500 by placing your money in a fixed deposit rather than a savings account. As you can see, the beneficiary here is the bank, not you. Why let the bank benefit from your hard earned money?
The fundamental of fixed-income investing is that interest is earned every day. You should, therefore, look to maximise the interest earned on your investments. If you don’t, then, in effect, you burn money.
So, what is idle money? How to ensure it does not stay idle? How to make money work for you?
Money left in cash at home (not black money) is idle. Money left in low-interest instruments is idle. Money left in financial products that has no relevance to your portfolio is idle.
Let me elaborate. Cash lying idle at home can earn at least 6% in a savings bank account. Money in a savings bank account if not required for liquidity can earn 8% or more in a fixed deposit. Money left in a fixed deposit can earn more in liquid schemes of mutual funds or can earn more in FMPs (Fixed Maturity Plans).
Money invested in financial products that you do not require (such as investments in mutual fund schemes or insurance schemes that are actually earning less than even a bank savings deposits) is idle. You should revisit such investments and look to shift it out as quickly as possible as the charges keep adding up. Mutual funds and insurance companies charge fees that accrue on a daily basis and your investment should be making good returns to compensate for the fees you pay. If your fund is offering 4% returns after charging 2% fees, it’s time to shift it out.
There is no bigger wastage of money than leaving money idle.
Money that could have been spent fruitfully or reinvested for savings is sacrificed.You will be the loser while the gainer is usually a bank or a financial service provider.
Start making your idle money work for you and gain in the process. There is no better time to make idle money work for you than now.
The author is the editor of www.investorsareidiots.com, a website for investors.
CHAPEL HILL -- Frank Capra's 1946 film "It's a Wonderful Life" appears every Christmas: George Bailey, the reluctant small-town Savings & Loan manager fends off the ugly side of capitalism (personified in the odious land grabber Potter) by lending money to trustworthy but impecunious townspeople. Often billed as a "little guy against awful corporate fat cat" story, or as an "every single life makes a difference" parable, the film embodies yet another theme: It celebrates the work of Americans who did not go to fight Hitler, or Tojo, in World War II.

Read more here: http://www.newsobserver.com/2011/12/24/1730340/life-on-the-home-front-then-and.html#storylink=cpy
CHAPEL HILL -- Frank Capra's 1946 film "It's a Wonderful Life" appears every Christmas: George Bailey, the reluctant small-town Savings & Loan manager fends off the ugly side of capitalism (personified in the odious land grabber Potter) by lending money to trustworthy but impecunious townspeople. Often billed as a "little guy against awful corporate fat cat" story, or as an "every single life makes a difference" parable, the film embodies yet another theme: It celebrates the work of Americans who did not go to fight Hitler, or Tojo, in World War II.This Christmas, as President Barack Obama welcomes home the last American soldiers from Iraq, we should consider how future Frank Capras will represent not only the huge majority of us who have failed to fight for our country in the first decade of the 21st century, but also the sometimes-fraught relationship between fighters and civilians.Capra's George Bailey, if you recall, played by Jimmy Stewart, cannot join the Army because he damaged his hearing as a child when rescuing his younger brother from a frozen pond. That same brother, now a decorated wartime flying ace, arrives home just in time to celebrate home-front brother's triumph of faith and friendship in support of financial solvency. (You remember, too, that the Bedford Falls S&L doesn't break - but only because all Bailey's customers recognize their debt to his faith in them by chipping in with enough 11th-hour dollars to save it.)

Read more here: http://www.newsobserver.com/2011/12/24/1730340/life-on-the-home-front-then-and.html#storylink=cpy
CHAPEL HILL -- Frank Capra's 1946 film "It's a Wonderful Life" appears every Christmas: George Bailey, the reluctant small-town Savings & Loan manager fends off the ugly side of capitalism (personified in the odious land grabber Potter) by lending money to trustworthy but impecunious townspeople. Often billed as a "little guy against awful corporate fat cat" story, or as an "every single life makes a difference" parable, the film embodies yet another theme: It celebrates the work of Americans who did not go to fight Hitler, or Tojo, in World War II.This Christmas, as President Barack Obama welcomes home the last American soldiers from Iraq, we should consider how future Frank Capras will represent not only the huge majority of us who have failed to fight for our country in the first decade of the 21st century, but also the sometimes-fraught relationship between fighters and civilians.Capra's George Bailey, if you recall, played by Jimmy Stewart, cannot join the Army because he damaged his hearing as a child when rescuing his younger brother from a frozen pond. That same brother, now a decorated wartime flying ace, arrives home just in time to celebrate home-front brother's triumph of faith and friendship in support of financial solvency. (You remember, too, that the Bedford Falls S&L doesn't break - but only because all Bailey's customers recognize their debt to his faith in them by chipping in with enough 11th-hour dollars to save it.)

Read more here: http://www.newsobserver.com/2011/12/24/1730340/life-on-the-home-front-then-and.html#storylink=cpy
CHAPEL HILL -- Frank Capra's 1946 film "It's a Wonderful Life" appears every Christmas: George Bailey, the reluctant small-town Savings & Loan manager fends off the ugly side of capitalism (personified in the odious land grabber Potter) by lending money to trustworthy but impecunious townspeople. Often billed as a "little guy against awful corporate fat cat" story, or as an "every single life makes a difference" parable, the film embodies yet another theme: It celebrates the work of Americans who did not go to fight Hitler, or Tojo, in World War II.This Christmas, as President Barack Obama welcomes home the last American soldiers from Iraq, we should consider how future Frank Capras will represent not only the huge majority of us who have failed to fight for our country in the first decade of the 21st century, but also the sometimes-fraught relationship between fighters and civilians.Capra's George Bailey, if you recall, played by Jimmy Stewart, cannot join the Army because he damaged his hearing as a child when rescuing his younger brother from a frozen pond. That same brother, now a decorated wartime flying ace, arrives home just in time to celebrate home-front brother's triumph of faith and friendship in support of financial solvency. (You remember, too, that the Bedford Falls S&L doesn't break - but only because all Bailey's customers recognize their debt to his faith in them by chipping in with enough 11th-hour dollars to save it.)

Read more here: http://www.newsobserver.com/2011/12/24/1730340/life-on-the-home-front-then-and.html#storylink=cpy
CHAPEL HILL -- Frank Capra's 1946 film "It's a Wonderful Life" appears every Christmas: George Bailey, the reluctant small-town Savings & Loan manager fends off the ugly side of capitalism (personified in the odious land grabber Potter) by lending money to trustworthy but impecunious townspeople. Often billed as a "little guy against awful corporate fat cat" story, or as an "every single life makes a difference" parable, the film embodies yet another theme: It celebrates the work of Americans who did not go to fight Hitler, or Tojo, in World War II.This Christmas, as President Barack Obama welcomes home the last American soldiers from Iraq, we should consider how future Frank Capras will represent not only the huge majority of us who have failed to fight for our country in the first decade of the 21st century, but also the sometimes-fraught relationship between fighters and civilians.Capra's George Bailey, if you recall, played by Jimmy Stewart, cannot join the Army because he damaged his hearing as a child when rescuing his younger brother from a frozen pond. That same brother, now a decorated wartime flying ace, arrives home just in time to celebrate home-front brother's triumph of faith and friendship in support of financial solvency. (You remember, too, that the Bedford Falls S&L doesn't break - but only because all Bailey's customers recognize their debt to his faith in them by chipping in with enough 11th-hour dollars to save it.)

Read more here: http://www.newsobserver.com/2011/12/24/1730340/life-on-the-home-front-then-and.html#storylink=cpy
CHAPEL HILL
CHAPEL HILL -- Frank Capra's 1946 film "It's a Wonderful Life" appears every Christmas: George Bailey, the reluctant small-town Savings & Loan manager fends off the ugly side of capitalism (personified in the odious land grabber Potter) by lending money to trustworthy but impecunious townspeople. Often billed as a "little guy against awful corporate fat cat" story, or as an "every single life makes a difference" parable, the film embodies yet another theme: It celebrates the work of Americans who did not go to fight Hitler, or Tojo, in World War II.This Christmas, as President Barack Obama welcomes home the last American soldiers from Iraq, we should consider how future Frank Capras will represent not only the huge majority of us who have failed to fight for our country in the first decade of the 21st century, but also the sometimes-fraught relationship between fighters and civilians.Capra's George Bailey, if you recall, played by Jimmy Stewart, cannot join the Army because he damaged his hearing as a child when rescuing his younger brother from a frozen pond. That same brother, now a decorated wartime flying ace, arrives home just in time to celebrate home-front brother's triumph of faith and friendship in support of financial solvency. (You remember, too, that the Bedford Falls S&L doesn't break - but only because all Bailey's customers recognize their debt to his faith in them by chipping in with enough 11th-hour dollars to save it.)

Read more here: http://www.newsobserver.com/2011/12/24/1730340/life-on-the-home-front-then-and.html#storylink=cpy
-- Frank Capra's 1946 film "It's a Wonderful Life" appears every Christmas: George Bailey, the reluctant small-town Savings & Loan manager fends off the ugly side of capitalism (personified in the odious land grabber Potter) by lending money to trustworthy but impecunious townspeople. Often billed as a "little guy against awful corporate fat cat" story, or as an "every single life makes a difference" parable, the film embodies yet another theme: It celebrates the work of Americans who did not go to fight Hitler, or Tojo, in World War II.This Christmas, as President Barack Obama welcomes home the last American soldiers from Iraq, we should consider how future Frank Capras will represent not only the huge majority of us who have failed to fight for our country in the first decade of the 21st century, but also the sometimes-fraught relationship between fighters and civilians.Capra's George Bailey, if you recall, played by Jimmy Stewart, cannot join the Army because he damaged his hearing as a child when rescuing his younger brother from a frozen pond. That same brother, now a decorated wartime flying ace, arrives home just in time to celebrate home-front brother's triumph of faith and friendship in support of financial solvency. (You remember, too, that the Bedford Falls S&L doesn't break - but only because all Bailey's customers recognize their debt to his faith in them by chipping in with enough 11th-hour dollars to save it.)

Read more here: http://www.newsobserver.com/2011/12/24/1730340/life-on-the-home-front-then-and.html#storylink=cpy
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Make time for financial planning now, save money on taxes later

Personal Finance
Before the new year, consider donating cash, household items or a vehicle to charity; paying your January mortgage and April tax payments early; bunching up itemized deductions; and investing in energy-efficient home products.
Your old clothes, housewares and furniture are tax deductions waiting to be claimed. You can write off the value of these items if you donate them, in good condition, to a qualified charity. Above, volunteer Marsha Dickens, right, helps out high school senior Maricruz Rodriguez, 18, at the nonprofit Main Place clothing distribution center in Irving, Texas. (John Moore, Getty Images / December 21, 2011)
Year-end financial planning is probably the last thing you want to think about while you're whipping up eggnog. But spend a few minutes now and you can save a bundle on your taxes.
"No one wants to make the time at this time of year," says Philip J. Holthouse, partner at the Los Angeles tax law and accounting firm of Holthouse Carlin & Van Trigt. "But a little last-minute planning can reap rewards worth thousands of dollars." Charitable contributions: Gifts to charity soar near the holidays. Is it the spirit of giving or the pursuit of charitable contribution deductions? Either way, the charities can use the help — and your tax return will be better for it.
Don't have enough cash to make this year's charitable contribution before year-end? If you know you'll have the money in January — perhaps because that's when your company pays holiday bonuses — consider charging your donation to your credit card.
If the charge hits by Dec. 31, you get the 2011 tax deduction, even though you won't have to pay the bill until 2012. But make sure you don't donate more than you can pay off. A few months of interest on a high-rate credit card will wipe out the tax benefit you'd get from the deduction.
Make your January mortgage payment now: The mortgage payment that's due in January can be made in December, which allows you to write off the interest on the payment. Normally, you can't pre-pay interest, Holthouse notes. But in this case, the interest you're paying in January was actually accrued in December. Thus it's deductible as long as it's paid before year-end.
Consider making the April property tax payment too: If you've got the cash, it may also make sense to pay the second half of your property tax bill, which is usually due in April. A caution: If you earn more than $100,000 and have substantial itemized deductions, don't make the payment without checking to see if you'll be subject to the onerous Alternative Minimum Tax. The AMT refigures your tax based on a system that allows fewer write-offs. If you're subject to the AMT, you pay whichever is higher — your regular income tax or the AMT.
Bunch deductions: Miscellaneous itemized deductions can only be written off once they exceed 2% of your adjusted gross income. So now is the time to start adding up receipts. If you have already paid substantial deductible expenses for, say, professional dues or legal and job-hunting expenses, it might make sense to renew all your business subscriptions for several years to clear that threshold and get more bang for your deductible buck. But the same caution about the AMT applies. Make sure that you project your tax under both the ordinary system and the AMT before you pay. Otherwise you could lose the deductions for both years.
Clean the closets: Your old clothes, housewares and furniture are tax deductions waiting to be claimed. You can write off the value of these items if you donate them, in good condition, to a qualified charity. The deduction is limited to the current market value — roughly what you could get for the item at a swap meet or thrift store. But be careful. Congress has been cracking down on deductions of depreciated property because some taxpayers appeared to be claiming deductions for far more than the property is worth. Make sure to keep good records of what you donated. If you donate a single item worth more than $500, you'll need a qualified appraisal.
Car donations: If you're tempted to donate a used car, you might want to think twice. Congress passed a new law drastically restricting these deductions in response to abuses that indicated people were writing off far more than the cars were worth.

Under the new rules, the deduction you can take for donating a car is the lesser of the vehicle's fair market value or the value that the charity got when selling the car. Since some charities sell these cars at auction for just a fraction of their retail resale value, that could mean that the deduction you can take is for far less than the car is actually worth.
IRS Publication 526 gives a good example of a hypothetical taxpayer named Anita who donates a 3-year-old car with a Blue Book value of $6,000. To claim the deduction, Anita needs the charity to provide a form 1098-C, which shows what the charity received when it sold her used car. In this example, the charity resold her $6,000 car for $2,900. Her deduction is limited to $2,900. She would have been far better off selling the car herself and donating the proceeds.
There's one exception: If the charity is going to use the car to fulfill its charitable mission, rather than sell the car for cash, you can claim the donation at the fair market value. This exception would apply to a shelter that used your donated vehicle to pick up wayward youths, or a food pantry that used it to deliver meals. It could also apply to charities that resold the car at a discount to a needy individual, assuming that was part of the charity's mission.
The bottom line: Only donate a car to charity if you know precisely what the charity plans to do with it.
Invest in your home: A series of federal tax credits for buying energy-efficient windows, doors and appliances expire at year-end 2011. These credits can reimburse you for up to 10% of the cost of replacing windows, doors and skylights, or adding insulation, central air conditioning, heaters or water heaters. The credits, which cap out at $500, are complicated, though. They're subject to a host of limitations and certification requirements. If you've ever taken energy tax credits in the past, there are additional restrictions. The Alliance to Save Energy offers a nice tutorial on the credits (http://ase.org/resources/energy-efficiency-home-and-vehicle-tax-credits#home_improvement_11), which is worth reading before you buy.
Invest in your business: If you've got your own business — even if it's just moonlighting — there are numerous tax breaks available to you. One worth considering at year-end is the so-called 179 deduction for buying business equipment. Normally business equipment such as computers, software and copiers needs to be depreciated, or deducted over time. But in an effort to boost spending, the government now allows so-called 179 business expense write-offs of up to $500,000. If you need a new chair for your office, a better computer, even a nicer phone, buying it now could allow you to write it off on your 2011 return.
Don't forget your classroom: If you're a teacher and you haven't already spent $250 on class supplies, get them now. Up to $250 a year in books, supplies, computer equipment and other classroom supplies are deductible each year. If you're a teacher married to a teacher, the limit is $500 a year.
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The UK's best 'secret' savings scheme

By Cliff D'Arcy, writing for MSN Money
This little-known, but widely available, plan can produce enormous gains for steady savers.
The past three years have been the toughest in history for Britain's increasingly stressed savers as the base rate has remained at its record low.
With the best interest rates paid by savings accounts at most 3-4% a year, some savers have been willing to put their capital at risk by buying high-income shares. Then again, stock markets have been highly volatile since 2007, which makes them no place for the cautious.
So far in 2011, the FTSE 100 index of elite companies is down around 8%. This means that many investors in shares have lost money this year, even after factoring in dividends (the income from shares).
One amazing alternative
Given low savings rates and unstable share prices, is there anything savers can do to earn high returns, but at relatively low risk? I believe that there is, thanks to a special savings scheme that involves buying shares monthly while getting generous kickbacks from the taxman.
In fact, I reckon that this super savings scheme is one of the best available, despite being largely unheard of among UK savers. What's more, I know of one particular plan that has turned £9,000 saved over 10 years into a mighty £45,000, which is an astonishing return.
Taking a sip of SIPs
This little-known, but widely available, savings plan is known as a SIP, which is short for Share Incentive Plan.
The 'Share' in SIP tells us that this scheme involves buying company shares. Therefore, the UK's six million public-sector employees cannot contribute to this scheme, nor can self-employed workers.
Then again, workers at private companies with shares listed on a recognised stock exchange can participate. Also, smaller, unlisted companies can set up SIPs, despite the lack of a ready market for their shares.
Alas, though SIPs have been around since mid-2000 and are open to millions of savers, they are not yet as popular as other work-based savings schemes such as Save As You Earn (SAYE, also known as Sharesave).
The latest survey of SIPs by the organisation IFS ProShare revealed that, in 2010, there were 890 SIPs in place, costing the government £320 million a year in tax bungs. What's more, although SIPs are all-employee schemes open to an entire workforce, nearly half (44%) of workers don't contribute to their workplace SIP.
In short, there are roughly a million SIP savers, but there is plenty of room left on this savings bandwagon...
How SIPs work
There are three types of SIPs on offer, with companies free to 'pick and mix' these as they see fit:
1. Free shares
Employers can give free shares worth up to £3,000 a year to employees, free of income tax and National Insurance (NICs). Up to 80% of the shares awarded can be based on individual, group or company performance against targets.
Given that these shares are completely free, they are obviously the cheapest investment to own.
2. Partnership shares
Employees can buy shares from their pre-tax weekly or monthly wage, up to a limit of the lower of £1,500 a year or a tenth (10%) of salary. Alternatively, employees can invest a yearly lump sum of £1,500.
Again, these shares are free of income tax and NICs, which means that a monthly contribution of £125 can cost as little as £60 a month (for high earners paying 50% income tax and 2% NICs).
For those paying basic-rate (20%) tax and NICs at 12%, saving £125 a month deducts just £85 from take-home pay, with the taxman chipping in £40.
Here's a summary of the cost of contributing £1,500 a year to a SIP, based on three different tax levels
Hence, the big advantage of this savings scheme is that HM Revenue & Customs chips in £480 to £780 a year in tax relief, depending on your tax band.
3. Matching shares
Employers can match each partnership share bought by employees with up to two free shares. Thus, a before-tax contribution of £125 a month can buy shares worth up to £375. In effect, the best matching shares SIPs can triple your money on day one.
According to IFS ProShare, more than half (53%) of employers running SIP schemes also hand over matching shares on top.
More tax breaks
As well as the tax relief on contributions, SIP savers enjoy a few more tax breaks.
Any dividends paid out on shares bought via SIPs can be reinvested into more shares, but these dividend shares are limited to a maximum of £1,500 a year. Any dividends in excess of this limit are paid to the shareholder and taxed in the normal way.
All free, partnership, matching and dividend shares must be held inside the SIP for at least three years or the tax relief granted on purchase will be clawed back. If withdrawn between three and five years, income tax and NICs are due on the lower of the salary used to buy the shares and their market value at the time of removal.
However, after being held for five years, then all SIP shares become completely free of tax. From this point, they can be left to grow, tax-free, inside the plan or be withdrawn, also tax-free. Also, there is no Capital Gains Tax liability when shares are sold inside, or withdrawn from, a SIP.
Therefore, for the maximum tax breaks, you should keep hold of SIP shares for at least five years. Also, if you're forced to leave your employer due to disability, redundancy, retirement or death, then all SIP shares can be withdrawn tax-free.
Start SIPping today
My wife works for a multinational company with perhaps 100,000 employees. She joined her employer's SIP as soon as it opened in 2001, paying in the maximum £1,500 a year. Thus, over the past 10 years, she's bought shares worth around £15,000.
However, tax relief on these contributions cuts the cost of these shares to roughly £9,000. In addition, this SIP is a BOGOF (buy one, get one free), so my wife actually bought £30,000 of shares.
Despite her company's share price jumping and slumping in the stock-market roller-coaster of the past decade, these shares are worth roughly £45,000 today. Where else could you have turned 120 monthly contributions of £75 into such a hefty sum in the past 10 years? Probably not by giving your money to a fund manager.
In summary, SIPs are a tax-efficient, relatively low-risk method of saving. If you have one at work, then I'd urge you to join it today. Just make sure that you sell some shares now and then, or you could be at risk if your employer gets into difficulty!
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Troy’s Champion Home Builders makes holiday wishes come true

TROY — With the holidays upon us, stores are filled with shoppers looking for that perfect gift. At the same time, unfortunately, there are thousands of families across the area who are struggling to provide even a modest Christmas for their children.
According to the Salvation Army of Southeast Michigan, 16.8 percent of Michigan residents are living in poverty, the highest percentage in four decades, and Adopt-A-Family agencies are flooded with requests for support. That’s why many local companies like Troy’s Champion Home Builders have rallied their employees to help make a difference and grant holiday wishes for local families in need.
Champion and its employees supported more than 66 children and their family members through the Salvation Army’s Adopt-A-Family and the Bloomfield Hills Optimist Club Children’s Holiday Wish programs.
“We appreciate programs like the Salvation Army’s Adopt-A-Family because it gives all of our employees a chance to get involved and give back to the community in which we live and work. Our employees donate money, shop for gifts from the family wish lists and come together to wrap them up,” said Angel Hamilton, one of the two organizers of Champion’s efforts.
Each family received a collection of gifts from their wish list that included toys, clothing and general household products. In total, more than $6,000 worth of goods was donated
In addition, the company recognized the struggle that many families face to feed their children during the holiday school break, and provided a gift card for groceries to assist each family.
“As a home builder, families are our number one customer. We know and understand our obligation to support families in need and celebrate the opportunity to provide these gifts to families in our community,” said Champion CEO Jack Lawless.
Source http://www.dailytribune.com
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Friday 23 December 2011

Home-Start Wokingham saved with £300,000 lottery grant

A family support charity which feared it could have to close due to lack of funds has been saved after securing a £300,000 National Lottery grant.
The axe has been hanging over Home-Start Wokingham in Cutbush Lane, Shinfield, after its grant was slashed by Wokingham Borough Council in 2009.
The charity has been struggling to make ends meet and twice missed out on National Lottery grants.
But a third grant has finally been approved, meaning the charity will be able to expand to offer help to more families in Wokingham.
Angie Mycock, co-manager of Home-Start Wokingham, said: “We are all absolutely over the moon. I cannot put it into words, it’s been a really tough couple of years.
“It’s our third attempt to get it and we have been having to manage with fundraising anywhere and everywhere we can get money from in order to deliver our services.
“Our trustees have done a brilliant job and we have got some support from Wokingham Borough Council, but we were hoping for the grant to take the pressure off.”
Home-Start provides support for families who are struggling to cope or who are at crisis point.
The charity matches trained volunteers with families to help tackle post-natal depression, isolation, multiple births, physical or mental health problems and relationship breakdowns.
The grant, which is part of the Big Lottery Fund’s flagship Reaching Communities fund, will help the service to train more volunteers to support a larger number of families with young children across the borough.
Ms Mycock said: “As part of our expansion we are going to try to recruit more volunteers.
It’s just such a relief because my colleague and I are the two original staff and we really did feel that was it when the second grant was turned down.
“They have about £12 million being asked for with about £5 million in the pot and Wokingham never is the top of the pile because it’s perceived to be an affluent area.
“But we know there are a lot of disadvantaged families in the area and not just families who are disadvantaged financially, but it can be other things as well.”
Fiona Dempsie, Big Lottery Fund’s Head of the South East region, said: “These grants are welcome news for community groups across the region that are working to provide practical help to those who really need it the most.
With more than £1.6 million in total coming to the region, this funding will make a big difference to many lives, families and communities.”
Source http://www.getwokingham.co.uk
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Record-low rates below 4 percent could lure homeowners, but few can or will take advantage

By Associated Press
WASHINGTON Never have average rates on long-term fixed mortgages been as low as they are now: 3.91 percent for a 30-year home loan and 3.21 for a 15-year loan.
The new lows mark the eighth straight week in which the average on the 30-year loan has hovered near 4 percent.
Those rates make now a tantalizing time to refinance. And, with home prices having sunk in most areas of the country, many would-be buyers are tempted, too.
Yet the pace of refinancing and home buying has been mostly unchanged over the past year. That’s mainly because so many Americans lack the home equity, credit scores or cash to refinance or buy. Many who do qualify to buy or refinance have already done so.
Here’s a look at whether and why it makes sense to refinance or buy.
Why now is a prime opportunity.
Rates are at record lows. More than 75 percent of homeowners with conventional government-backed mortgages are paying rates above 5 percent. Millions of homeowners, especially those with solid jobs, stable finances and strong credit, have refinanced during 2011. The average rate on the 30-year fixed loan has remained below 4.5 percent since July. (In 2008, it topped 6.5 percent.)
Why more people aren’t refinancing.
In many cases, people whose home values have dropped aren’t eligible. Shrunken home values have reduced the total equity Americans have in their homes to under 40 percent — the lowest since the Great Depression. As a result, many people lack enough equity to qualify for refinancing. Or their credit scores aren’t high enough.
Another obstacle: Refinancers typically must pay thousands in closing costs and appraisal fees. Those costs usually add up to 1 percent of the loan’s value — $2,000 in fees on a $200,000 loan, for example. Typically, most experts say, it’s worthwhile for homeowners to refinance if they can reduce their rate by a full percentage point.
Why more people aren’t buying homes.
Too many would-be buyers can’t afford the required down payment, are out of work, lack enough income or are burdened by large debt loads. Home prices have sunk 31 percent since the housing boom four years ago, leaving many Americans fearful that prices have yet to bottom. They don’t want to throw good money at a depreciating asset.
Half of would-be buyers also say they don’t think they’ll ever save enough for the 20 percent down payment now expected by most sellers, according to a survey by the National Foundation for Credit Counseling.
For those looking to buy, banks are also insisting on higher credit scores. Roughly 60 percent of U.S. households don’t have the required scores above 700 to get a prime mortgage, according to an Associated Press analysis of Fair Isaac Corp., or FICO, and other credit-score data. The average U.S. credit score is 661.
The consequences of refinancing
When people refinance at lower rates, they pay less interest on their loans. So they end up with more money to spend, save or invest. For those who can qualify, the savings can be significant. If, for example, a homeowner with a $200,000 mortgage at 6 percent can refinance down to 4.5 percent, the savings would be $3,000 a year.
Still, the benefits for the larger economy are limited. Most homeowners who refinance these days tend to sock away their savings or pay down debt rather than spend it.
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Get back home and recuperate

By Kathryn Sharpe
Use the Christmas break to recuperate, re-evaluate and reorganise – that’s the advice of second year York University history student Kathryn Sharpe, of Port St Mary. Here her column on life as a Manx student across continues
‘REALITY hitting home’ is a particularly apt phrase at this time of year for students.
The first term of being a fresher or a second year student is likely to have slowly frozen to a grinding halt.
Money, energy, and enthusiasm all run dry right before Christmas, and there is a universal desire to return home.
We realise that our housemates are not at all what we expected, that achieving a First requires the same commitment to the library as to partying, and that money, despite what we tell ourselves, does not magically appear from nothing.
The Christmas period thus creates a whirlwind of emotions. For those who have had a hugely successful term, and can smugly re-read their essays with First scribbled at the bottom on the flight back, this euphoria obliterates any other worries. But for the others, however, who arrived at the end of the term with one hangover too many and an insatiable desire to move permanently to campus to escape a Cold War between housemates, the outlook has less of a festive glow.
If anything though, Christmas is an opportunity for students to closely examine the reality of university life. This ‘reality shock’ is well timed; January, and therefore the well-intended time of making New Year resolutions, is approaching.
For those who have not had to eat a diet of soup for two weeks because of awry financial calculations, or who haven’t personally nicknamed the library to delude themselves that visits there are social, need only resolve to maintain these achievements.
But the rest of us should use the break wisely. For example, if you have found that the majority of your folders are empty, or that you’re not quite sure what your course is actually about, arrange to meet your tutor before the end of term, so that you can begin the New Year afresh.
If you’re returning to exams after the holiday, make certain that you know what and how you should be revising, as a failure so early in the year could be a cause for calamity.
Likewise, if your financial situation has reached the point where you pay for milk with a handful of two pence coins, scrounged from every corner of your room, then make strict goals for the next term, including a realistic weekly budget.
Lastly, if your accommodation is not working out as expected, attempt to leave on a friendly note so that you don’t have to return to conflict; resist the temptation to make a picnic for the return home with their food, and instead stretch yourself to leaving a friendly Christmas card for everyone.
Remember as well to tidy before you leave, as being unable to enter your room because of the barricade of chaos behind the door will set off your ‘new leaf’ period very badly.
However your term has panned out, either for better or worse, there will be many in exactly the same situation as you.
After you have resolved to get back or stay on track (a to-do list is helpful in these situations), spend the rest of the Christmas break making the most of being on the island, and with family.
Family are incredibly important, and their absence whilst at university often leaves a huge gap.
Christmas is typically a family time. While students often see home time as an opportunity for free food and heating, also enjoy relaxing with them, even if this means sometimes gritting your teeth and agreeing to a bracing walk up Bradda Head.
Source http://www.iomtoday.co.im
In conclusion, no matter what reality you are facing, use Christmas to rejuvenate and prepare for the New Year. ‘Be the change you wish to see in the world’ [Mahatma Ghandi]. This may sound an overdramatic motivational phrase for addressing a few mishaps, but nevertheless it is crucial to remember, after all, university can only be what you make it.
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Norm Chow emotional as he returns home, promises to make Hawaii proud

By Associated Press
HONOLULU — After five schools, four decades and three national championships, Norm Chow’s career has come full circle.
A tearful Chow was introduced Thursday as the new coach of Hawaii in an emotional news conference surrounded by old friends, including a high school teammate.
“I’m honored, I’m humbled and I’m awfully excited to be here to stand before you as the next football coach of the University of Hawaii Rainbow Warriors,” Chow said, using the mascot name that was shed more than a decade ago under former coach June Jones.
The 65-year-old Chow was born and raised in Honolulu and got his coaching start in the islands. Today, Chow is being looked upon to revive the struggling Warriors football program that failed to make the postseason this year.
“How many people are fortunate enough to go full circle? I’m blessed. I’m honored. I know that,” he said. “I say my prayers every morning and I’m grateful for that. I started at Waialua High School in 1970 and to have this chance to come back home all these years later is just a treat. It’s a privilege and I’m never going to ever forget that.”
Chow has become an instant island icon in this football crazed state with no professional team sports. He was scheduled to attend a reception hosted by Gov. Neil Abercrombie on Thursday night before returning to Utah, where he is in his first season as offensive coordinator. The Utes are preparing to face Georgia Tech in the Sun Bowl.
He previously served as offensive coordinator at UCLA, for the Tennessee Titans, at Southern California, North Carolina State and Brigham Young, helping to develop four Heisman Trophy winners.
Chow said his first goal as coach is to graduate student athletes and prepare them for their lives. But that’s not all he wants to do.
“We’re going to win football games,” he said. “We’re going to win as many football games as we can possibly win. That I will tell you. We will win football games and we will chase championships. ... We will make all of you proud. That, as well, is a promise to all of you.”
He said his players will be ready come next season.
“Those that survive will be prepared to play football,” he said.
Chow wouldn’t name any possible assistants, but said they would be good recruiters. He said it will take some getting used to being on the field instead of calling plays from the box.
When asked about his defensive philosophy, he said, “It will be a very aggressive style with a lot of man-to-man coverage and teams better be able to pick up the blitzes when they see us play.”
Chow has agreed to a five-year deal with the Warriors. Athletics director Jim Donovan wouldn’t comment on the details. But it is believed to be significantly less than the $1.1 million a season paid to former coach Greg McMackin.
“Money has absolutely nothing to do with this,” he said. “I have a chance to come home, I have a chance to represent this university. I have a chance to represent this state. I have a chance to hopefully serve as an example to some and money has nothing to do with that.”
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Tips for Making Money at Home

By Author:
Lately, the economy has been taking a nose dive and some people are losing their jobs due to cutbacks. The reason that you’re reading this article then, is that you decided you aren’t taking this lying down, or for the lucky few, you want to take a new direction in your life, and you are thinking about starting a new business.
Normally, you could make fudge and other confectionaries, or you could make amazing shoes and sell them to the people on the street, and after a few years people in the neighbourhood may get to know your brand and eventually, you will have your own store.
In this day and age, however,  you can use the internet to expand your business tenfold, in a matter of half that time. The rewards for starting a new business at home are much bigger and you will be able to support your family better, the sooner you get your name out there.
New and successful home business are growing by the day, so why not try it yourself. This article will give you a few tips on how to start your online home business.

Starting a Home Based Business – Business Start Up Tips

  • Pick a good name for your business; you will be using it often and need to be happy with it.
  • Decide what you want in the short term, medium term and long term for your business.
  • Be flexible with your business model, as some opportunities call for flexibility.
  • Consider the work that has to be done, pick the work you love and get freelancers to do the rest.
  • Find out where to register with the correct VAT and tax offices for your country and get the correct licensing and legal requirements to run a lawful company.
  • Make a new plan of action for every day, reflect on the previous day and create plans accordingly.
  • Being new to the game, you should get a mentor who you can ask questions and get advice from.
  • Once you have decided what kind of business you will build, it will become easier to make choices.
  • Look after your finances and sign up for online invoicing, or buy decent invoice systems to work on.
  • Buy an uncapped business ADSL line or an uncapped ADSL line if you are planning on running a business from home.
    With the growth of the internet it, has become increasingly easy to make money, and where better to do it than in the peaceful surroundings of your home. Where you can sit in your room with comfortable clothes on and drink coffee whenever you need it, while doing your work.
    An old way of making money is doing online surveys. Just be sure that you are doing surveys for reputable websites, as some survey companies are scams and don’t pay out, even after you’ve done the allotted amount. Read up on reviews and feedback before committing yourself.
    An online home business which is sweeping the net is blogging. Creating a blog with interesting content can garner hundreds if not thousands of visitors to your site per day. The best way to make money out of this is by selling ad space on your site or adding Google ads to your open web spaces.
    Online Forex trading is also a sure-fire way of making money. Be sure to get an MT4 demo account and train on the Metatrader 4 software before committing yourself. You’ll see in no time how this software and online trading can bring in the money.
    The last online home business consists of creating a website with a service or product which you can sell online. Create stickers at your home and sell them via the internet, or if you are a graphic designer, sell your services online.
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Homeless scandal: Funnywoman Janey Godley lashes out at the 'inhumane' treatment of youngsters

By Maggie Barry
FEAR. It is the overwhelming emotion Janey Godley remembers from her childhood.
Fear that she would come home to find all the family belongings in the front garden of the tenement where she lived. Fear that she would no longer be sleeping in her own bed. Fear that everything she knew and was cosily familiar with would be ripped from her.
This week, learning about the ­thousands of homeless children in ­Scotland living in cramped, soulless accommodation with sparse facilities, that fear came rushing back.
Now aged 50, and a successful stand-up comic, Janey read and immediately understood how those ­children felt.
She said: “As a child, knowing that the place you call home could be taken off you has stuck with me my entire life.
“You’re sitting in school and you’re trying to read your books and you’re trying to be a good child and sing songs for Jesus and pray – all that goodwill to all men, especially at Christmas and you’re thinking, ‘I’m going home and my dog’s going to be tied to a fence and my mammy’s going to be running about the streets trying to raise the cash.’
“Where would we stay and where would we go and how would we get the money? We were evicted a few times – put out on the streets. I remember all the furniture being thrown in Mr Woods’s front garden – our downstairs neighbour – and I was horrified.
“The fear grips you terribly. It still wakes me up. What if I couldn’t pay my rent or my mortgage? It stays with me.
“What I can’t understand is in the 21st century why this is still happening?
“They’ve had years to fix this.”
Between the ages of seven and nine, her family faced eviction several times.
And there were others. She remembers a pal of her mum’s with four kids coming up to Glasgow from Birmingham fleeing a violent marriage.
She was homeless, so along with her four children she squatted in a condemned tenement block at the foot of Kenmore Street in Shettleston, where Janey lived.
Janey said: “It was a dank old scabby place and they just stayed there until someone found it in their hearts to rehouse them.”
Raging still at the injustice suffered by the homeless a generation later, Janey believes the government should step in.
Free prescriptions and free university tuition sit well within a modern Scotland, but not when children are unable to reach their full potential because of the blight of homelessness.
A firm believer in helping others and a veteran of many a charity fundraiser, Janey cannot understand why Scotland cannot look after its own most vulnerable youngsters.
And she believes that without a basic house to live in, kids will lose the will, the hope and the ­aspiration to go further.
“Any country that can’t house its kids needs to take a good long look at itself and stop bleating about its ­achievements,” she said.
“If you can’t house the weakest and the most vulnerable amongst you, then you shouldn’t be allowed to keep pandas.
“My mammy said you shouldn’t have a dog if you can’t feed your kids, and she was right.
“I believe we should give foreign aid and any civilised country should give money to people who are the world’s poorest. That’s what civilised people do.
“But civilised people also should make sure that their own children aren’t living in unsafe accommodation or are homeless.
“It’s horrific in this day and age that wee kids are living in temporary accommodation far from their schools, either through poverty or through domestic violence or through their parents not being able to cope, and it’s the children that suffer.
“They’re ripped away from their communities, their wee school, their friends, their neighbours, their wee clique of pals and they’re flung in some bed and breakfast and they’re living out of plastic bags. That’s just inhumane. And now we’ve got a tram they can’t pay for and two pandas.
“They should strap the two pandas on to the front of the tram and make them pull it – and then it would work.”
Shelter Scotland have released the horrifying statistics that there are three times as many families living in ­temporary accommodation today as there were in 2002.
Then, there were 4153 households – now there are more than 11,000.
The disruption and the damage to children in particular is enormous.
Their health suffers since the new accommodation is often poor.
Academically, they struggle to keep up with schoolwork because of all the upheaval.
And the psychological effects could linger for years.
The SNP pledged to build 6000 affordable homes for each year of the lifetime of the parliament – but now they have cut their budget by half and in the last 12 months, only 3696 homes have been built. There is also a desperate shortage of family homes.
In the last 10 years, 92,000 homes have been lost to the social rented sector through right to buy legislation, while thousands of private homes throughout Scotland are lying empty.
The Daily Record is working with Shelter to press for more affordable rented homes to be built and for the refurbishment of homes lying empty.
Shelter also want a tax on empty homes to raise cash for the renovation.
Janey went on: “When our great great great grandchildren study this period they are going to wonder why when we had our own government, we couldn’t house our own kids. It’s Dickensian.
“It is the most fundamental right of a child to have shelter.
“When you’re a child and you don’t have a safe place to go, the foundations of your personality, your security and emotional welfare are warped.
“In the 21st century, the voluntary sector should not be picking up the slack for homeless children – it should be the government.
“They should be building affordable housing stock. I thought this finished when I was a kid but I am still horrified by these stories.
“There are still kids over Christmas living in unsafe, unsociable housing with all their stuff in a carrier bag.
“If we cannot provide the most basic needs of shelter to the most vulnerable then we as a nation are letting ourselves down.”
Show your support and get online. Sign Shelter Scotland’s petition at www.shelter.org.uk/noroom
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Canadensis home part of evidence in theft case

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Chimney fire destroys Water Street home in Newfield

NEWFIELD — A chimney fire destroyed the family home of Maxine Wedgewood on Water Street on Monday, Dec. 12.
Mrs. Wedgwood passed away more than a year ago, but the house was occupied; however, there was nobody home at the time of the fire.
The Wedgewood house was one of the older homes in Newfield, dating back to the early 1900s.
According to Dave Perruzzi, of the Newfield Fire Department, firefighters responded to the fire at 4:15 p.m. and did not have it out until around 11:30 p.m. It took more than 40 firefighters to get the blaze under control, and they were able to save the ell and the barn.
Firefighters from Newfield, Limerick, Shapleigh, Westbrook, Cornish, and Wakefield, New Hampshire, responded.
This was the second chimney fire in Newfield in just a few weeks; the previous one was on Lost Mile Road.
Perruzzi recommends that homeowners have their chimneys checked once a year and cleaned when necessary. Chief Dave Neville is available to visit homes in order to check them.
For more information about getting your chimney checked, please call Neville at 793-2055.
DANCE TICKETS AVAILABLE
The Town of Newfield is once again sponsoring a New Year's Eve fundraiser to raise money for the local heating assistance program. Tickets are now available.
The party will be held at the West Newfield Town Hall at 23 South Effingham Road on Saturday, Dec. 31, from 8 p.m. until 1 a.m. Tickets are $10 per person and may be purchased at the town office during regular business hours, which are Tuesdays and Thursdays from 9 to 11:45 a.m. and 1 to 4:45 p.m., Tuesday evenings from 6 to 7:45 p.m., and Wednesdays from noon to 4:45 p.m.
CHRISTMAS GIFTS NEEDED
York County Shelter Programs in Alfred needs Christmas gifts for its residents.
Donations have been lower this year than in previous ones, but the need is still there. Please consider donating gifts of new sweat shirts, sweat pants, socks, underwear, gloves or hats. The shelter always tries to provide a few gifts to each homeless resident.
Gift certificates at area department stores are also appreciated, so that a staff member can purchase last-minute items for individuals who may enter the Shelter on Christmas Eve or Christmas Day.
For more information, please contact Patty at 324-1137.
LIBRARY HOSTING AFTERNOON TEA
The Newfield Village Library is hosting Afternoon Tea Socials every Wednesday at 3 p.m.
The library, located in the town office building at 637 Water Street, is open on Wednesdays from noon until 4:45 p.m. The tea socials are open to everyone.
In related news, the library board has selected its new officers for the coming year. According to Librarian Cheryl Cause, Greg Cuffey will be president; Doreen Lofgren, vice president; Diane McClement, secretary; and Helen Winn, treasurer. The trustees will be Joyce Bond, Craig Parker and Ann Winn-Wentworth, and the Friends of the Library are Ann Fisher and Betsy Stead.
The library will be sending out an electronic newsletter to anyone who is interested in latest news and events. For more information, please stop by the library during regular hours or call Cheryl at 793-2263. The regular hours at the library are from 9 to 11:45 a.m. and 1 to 4:45 p.m. on Tuesdays and Thursdays, from 6 to 7:45 p.m. on Tuesday evenings, from noon to 4:45 p.m. on Wednesdays, and from 9 to 11:45 a.m. on the first Saturday of every month.
HISTORICAL SOCIETY STARTING NEW SERIES
Starting in March, the Newfield Historical Society will have a series of historical talks at its Monday-night meetings. The first of the series will be about the old Shady Nook Dance Hall on the corner of Shady Nook and Garland roads. Other talks will be about the people, places and events that took place in Newfield back in the day.
In other news, the new officers for the Society are Greg Cuffey, president; Jack Guzman, vice president; Judy Kelley, secretary; and Hazel McGlincey, treasurer.
The Society will not hold business meetings during January and February.
WILLOWBROOK NEEDS MEMBERS
The 19th Century Willowbrook Village Museum at 70 Elm Street will start its 43rd year of operation in May 2012. However, until the museum's board is able to find major donors, the facility's survival depends greatly on memberships from surrounding communities.
Board members are asking for support from Newfield and such neighboring communities as Parsonsfield, Kezar Falls, Porter, Hiram, Brownfield, Cornish, Limerick, Limington, Waterboro, and Alfred, Maine, and Wakefield, Effingham and Freedom, New Hampshire. A monthly pledge of $5 will provide a Family Membership with a season pass for two adults and two children. A monthly pledge of $10 will make you a Willowbrook Friend, and $20 will make you a Willowbrook Patron.
For more information, please contact the museum at 793-2784.
CHRISTMAS SERVICES
The Christmas Eve Service of Scripture and Carols will be held on Dec. 24 at 4:30 p.m. at the West Newfield Congregational Church at 1078 Maplewood Road. The Christmas Eve Service will be held at the Limerick Congregational Church on 45 Main Street at 6:30 p.m. All are welcome.
There will be no services at either church on Christmas Day.
The Newfield Methodist Church at 639 Water Street will have regular Sunday services this week at 10:30 a.m.
The Community of Faith and Fellowship will have their regular Sunday services this week at the Newfield Methodist Church at 639 Water Street at 5 p.m. The choir will meet at 4:15 p.m. There will be traditional readings, special music and carol singing. Everyone is welcome.
CHECKING IN WITH THE STREAKERS
The Route 11 Streakers Snowmobile Club has made preliminary plans to host a bean supper on Saturday, Jan. 21, 2012. The location and time will be announced at a later date.
According to Gloria Dyer, the group has been working on the trails for this winter's snowmobiling. The A, B and J trails currently have logging operations taking place and will likely need work done after the loggers leave. The W trail in Limerick, located by the Industrial Park, has a new bridge. Also, the Maine Department of Transportation has put up some badly needed snowmobile crossing signs on routes 11 and 5.
The club is now waiting patiently for snow.
MEETINGS
q Newfield firefighters will have a work session on Tuesday, Dec. 27, at 7 p.m. at the Public Safety Building at 85 Water Street.
q Newfield selectmen will have their weekly meeting on Tuesday, Dec. 27, at 7 p.m. at the Town Office at 637 Water Street.
q The next Seniors Luncheon at Mary Ann Manor in Limerick will be held on Jan. 5, 2012.
COUNTRY CUPBOARD
Just three more days to plan a menu for Christmas dinner. If you have not planned a dessert yet, consider making a Cranberry-Apple Cobbler. The recipe comes from my "Baking with Love" cookbook and is an easy, attractive and delicious fruity dessert.
Cranberry-Apple Cobbler
2 cups of brown sugar
1 cup chopped pecans, toasted
1 teaspoon ground cinnamon
4 large tart red apples, peeled and sliced, about 6 cups
1 package fresh cranberries (12 ounces)
Heat oven to 400 degrees. Grease 2 quart casserole dish. Prepare topping. Mix remaining ingredients in casserole dish. Crumble topping over fruit mixture. Bake for 25 to 30 minutes or until topping is golden brown.
Topping
1 cup all purpose flour
3/4 cup sugar
1/4 cup margarine or butter, softened
1 egg, beaten
Mix flour and sugar in medium bowl. Cut in margarine, using fork or pastry blender until crumbly. Stir in egg.
Serve warm with topping of choice, whipped cream or ice cream.
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Thursday 22 December 2011

Home Office loses legal battle over asylum seekers

By Harriet Grant guardian.co.uk
European court rules that asylum seekers cannot be removed to other EU countries if they risk being treated 'inhumanely'
A hotel housing asylum seekers in Croydon. The court ruled EU states may not transfer asylum seekers if they risk suffering inhuman or degrading treatment. Photograph: Antonio Zazueta Olmos/ Antonio Olmos
The Home Office has lost a key legal battle over the right to send asylum seekers back to the first European country they enter. The European court of justice ruled on Wednesday that asylum seekers cannot be removed to other EU countries if they risk being treated "inhumanely" there.
The man at the centre of the test case, known only as NS, claimed asylum in the UK in 2009 after travelling through Greece. Under an EU law known as the Dublin regulation, asylum seekers must apply in the first EU country they enter and can be sent back there if they travel to other countries. But removals to Greece have been suspended across much of Europe since January, when the European court of human rights judged that conditions for asylum seekers there were inhumane and degrading.
The Home Office argued it should be able to assume that all EU countries operate an asylum system that protects individuals' rights. But the judgment says no government can make this presumption. It says member states may not transfer asylum seekers when there are "substantial grounds for believing that the asylum seeker would face a real risk of being subjected to inhuman or degrading treatment".
Sonal Ghelani from Islington Law Centre, who has been representing NS, said: "Around 90% of people trying to get [overland] into the EU came through Greece and they couldn't cope. The UK government knew that there was a massive problem, it can't be said they were unaware. And now we know that once they are aware, they have to apply the EU fundamental charter of human rights."
But asylum seekers would have to show very serious failings in the EU countries to which they were being sent. "They are EU countries so the presumption is strong that they will respect fundamental rights. It would have to be shown that there is a systemic failure, something quite significant."
A Home Office statement said: "We will consider the detail of this judgment carefully, but we are pleased that the decision supports the operation of the Dublin regulation as a simple way of determining which state is responsible for asylum seekers in Europe."
The case is one of a series of legal challenges to the Dublin system in courts across Europe. A high court decision on the removal of asylum seekers to Italy from the UK was deferred pending Wednesday's verdict.
In October, the Guardian reported that asylum seekers returned to Italy from the UK were sleeping rough on the streets of Rome. The Italian immigration minister, Sonia Viale, said other EU countries were not giving her country enough support. Italy, Greece and Malta have been pushing at the European council for a suspension mechanism in the Dublin law for times when migrant flows increase into particular countries.
Disagreement over reform of the Dublin regulations is holding up progress towards a common European asylum policy, due by the end of 2012. The policy is intended to create minimum standards for processing claims across the EU. The UK has so far opted out of all binding elements of the law.
Cecilia Malmström, the European commissioner for home affairs, told the Guardian that reforming Dublin was proving challenging and that countries had blocked a suspension mechanism. "It is one of the key elements in the asylum package but it has turned out to be one of the most difficult ones. We have been struggling with it for some time. "The commission proposed a suspension mechanism and we worked for a year to see if we could formulate that, but it has no support in the council."
The UK has been leading resistance to such reforms. The council is now looking at a compromise to send money and technical support to countries that are under pressure. The council is meeting in January to discuss the issue.
Malmström said she still believed a deal could be agreed, but it would be difficult. "In my business you have to be optimistic, but the challenges are so bad, the issues are emotional and full of controversy," she said.
"We have witnessed dramatic changes in our neighbourhood, with people asking for justice and democracy. We can't say 'it's great you threw out your dictator but stay where you are'. And this clashes with the biggest economic crisis in Europe for a generation. Times are difficult and the mood in member states is focused on other priorities."
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Glastonbury Looking To Purchase Home To Make Way For Road Improvements

By
The town is hoping to improve another intersection by buying and demolishing a home.
The town is interested in purchasing and tearing down a house at 125 Douglas Road, making it easier to align the roadway with Sycamore Street to the north along New London Turnpike. Town Manager Richard J. Johnson said the town would purchase the home for $125,000. In 2008, the town purchased a home at the corner of Griswold and House streets for $220,000 and demolished it. The town is awaiting grant money to align House and Harris streets now that the house is gone.Johnson said Douglas Road is a popular shortcut from New London Turnpike and Hebron Avenue to Main Street. But those traveling east on the road have to really crane their necks to see approaching eastbound traffic on the turnpike. It is also difficult to turn left on New London Turnpike.
"It can create some issues," Johnson pointed out, adding the police department is currently reviewing the accident rate and compiling a safety report on the intersection.
Councilman Lawrence Byar said he uses Douglas Road as a shortcut and said he was "sure a fair number of people" do as well.
"With the potential of further development down New London Turnpike in the not-so-distant future, I would see traffic flow increasing quite a bit in this area," he said.
Under one potential plan, the section of Douglas Road on which the house sat would be moved north, directly across from Sycamore StreetThat would create better sightlines and distance the intersection from the Route 17 on ramp off the turnpike.
"This does not commit the town to any future road alignment," Johnson said. "It does not commit the town to any level of funding for it. It does not commit the town to a time schedule. [But] it's important to make it known that the opportunity is available."
The board of finance and town plan and zoning commission will review the Douglas Road purchase early next year. A public hearing is scheduled Jan. 10 at 8 p.m. in town council chambers of town hall.
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Home Office 'to cut riot payouts'

The Home Office plans to cut rioting victims' compensation because they previously received donations to help them get back on their feet, a Tory peer claims.
Desperate families left homeless by August's widespread disorder will have their compensation docked because they accepted £2,500 each from Conservative Lord Harris of Peckham, he said.
Carpetright chief Lord Harris, whose store in Tottenham, north London, was burnt down on the first night of rioting which swept English cities, gave the money to families who lived above the shop and were forced to flee the flames.
But he said the Government would strip £2,500 from each compensation payout.
Lord Harris said: "I'm told they are going to get some money off the Home Office, but the Home Office are going to deduct the money they received from me, which I think is very wrong. I gave them the money to help them over that time and I will be speaking to the Home Office about that."
Lord Harris said he was "very, very surprised" to learn of the cash cut, adding: "Normally you can't claim money back from a charity."
The peer told BBC Radio 4 he still felt "very sad" for the families affected.
He added: "Many of them still haven't got any homes and we should be doing more to make sure they get homes as quickly as possible, because there's nothing they have done at all. They are being penalised for something the rioters did to them."
A spokesman for the Metropolitan Police Authority, which is responsible for payouts to London victims of rioting, said: "If a claimant for compensation under the Riot (Damages) Act 1886 has received a payment of any sort from another source, such as an insurance company, charity or local authority, in strict accordance with the Act this sum must be deducted from the claim against the Metropolitan Police Authority and the sum will be reimbursed to the third party.
"Following full compliance with the Act it is, of course, within the power of the original donor to repeat the original donation."
Source http://www.walesonline.co.uk
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15 Ways for Students to Make Money Over Winter Break

If you're anything like the typical college student, you wait all semester for winter break. But after a few days at home, you somehow find yourself bored out of your mind. You have no projects to think about, no tests to study for and more time on your hands than you thought you could handle. So what better time to fill your days with a job and make some extra cash?
HerCampus.com brings you 15 ways to get going on filling up your bank account before spring semester rolls around:
1. Shovel some snow -- If there's lots of snow where you live, you might as well make the most of it and offer your shoveling services to your neighbors and family members. Tom Vecchione, executive director of career services at Elon University, calls this money-maker an "oldie but goodie." He also says he would definitely pay someone to do it for him!
2. Be a distributor -- "Many employers in larger to mid-size areas employ high school and college students to hand out flyers or other marketing items to the public," Vecchione says. Look around at local coffee shops or ice cream shops to see what flyers are already posted, and then give them a call to see if they'd like any more help.
3. Babysit -- Parents are busy with holiday parties and office parties over break. Offer to watch your cousins, neighbors, siblings or nieces and nephews. You'll have fun and make good money in the process. If your neighborhood or high school has an email listserv, send something out letting everyone know you're available to help.
4. Watch someone's pets -- Lots of people take short vacations and trips over the holidays. And most people would rather leave their pets at home than kennel them, so offer to feed and walk your neighbor's dog or feed their fish. You'll be a great help! This is another item you can shoot over a neighborhood email listserv.
5. Clean out your closet -- Go through all of your clothes and sell what you don't want at a local consignment store. Just try not to buy anything there while you're selling your stuff if the goal is to be cash flow positive!
6. Sell some stuff on the Internet -- Use eBay to sell items that you no longer have any use for. It's an easy way to make money.
7. Hold onto that summer job -- Keep in touch with your boss from this summer. Chances are, he might want to hire you back for a few weeks because he won't have to train you! Reach out to your boss as soon as you get home and ask him right away if the company will need any help over the holidays.
8. Get into retail -- "Retail, or anything related to helping a company adequately is a great way to spend your break [because] the holidays increase their demand for services," Vecchione says. You can help! When you're out doing Christmas shopping, spend some time going in and out of stores asking if they're hiring for the holidays.
Source http://www.huffingtonpost.com/
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How to Make Money with Mobile Home Parks

ByFrank Rolfe
We see all types of deals out there. Small parks. Large parks. RV parks. But the deals that make money all seem to share the same DNA. Here’s a short course in the basics of making money with mobile home parks – just in time for the New Year. 
To make money, buy only parks that won’t lose money
I know it sounds elementary, but the first rule of making money is to make sure you buy a park that will not lose money. What this means is that the park in question already has a positive cash flow sufficient to cover the note payment and provide a return on capital. What does this eliminate? You got it – parks that sell at a price higher than a 10% cap rate, and parks that are vacant. If you buy a park at a 4% cap rate, then how are you going to make any money? Never buy into the concept of land appreciation. While that might sell well in California and Florida, that’s not the mobile home park business – that’s land speculation. We are in the income property business, and the only way values rise is when income rises. If you are starting out at a 4% cap rate, then it will take you a lifetime just to get the park in a position where it is worth what you paid for it. Don’t be a sucker. 
Focus on parks that have upside that you can control 
A good mobile home park will have upside in raising rents and cutting costs. These are variables that you can control. RVs and mobile homes moving in are things you can’t. Raising your rents is one of the best ways to make money – every dollar you bring in goes straight to the bottom line with no time, effort or risk on your part. Sub-metering water and billing it back to the customer is another great strategy. It costs money up front, but is a fast pay back. Cutting costs, such as replacing the manager with a less expensive alternative or appealing property taxes, are another great way to increase the net income, without a lot of effort and capital investment.
Buying a park at a 10% cap rate is great – but you need some additional upside, even if it’s only raising the rent annually.
Do terrific due diligence
If you do lousy due diligence – or none at all – you will probably never make any money with a mobile home park, unless it is through sheer luck. Due diligence is what allows you to confirm that the park is a good buy, and to detect a clunker and ditch it early on. When you do great due diligence, the odds that you will make money are huge, and that you will fail slight. When we talk to people who have done well with their park, they all share a propensity to do great diligence. When people call us who have parks that don’t work and won’t sell, you find that they have done no basic research at all prior to buying the park.
 And be a decent operator
You don’t have to be a great manager to have a successful park. But you can’t be terrible. You have to know how to collect rent and stay on top of rules violations, and hold expenses down. You would be shocked at some of the income and expense statements we see on parks we do due diligence on. And the property condition is even worse. Even if you buy the greatest deal in the world, it’s not going anywhere if you don’t know how to run it.
Conclusion
The mobile home park industry is being fueled by the decline of the U.S. economy – and this is a huge market shift, not just a fad. There is plenty of money to be made in mobile home parks. But you have to go about it the right way.
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