Salmonella Risks Leads to Pet Food Recall
May 28th, 2011 by Rosanne Lim. No Comments »
After receiving a report that a dog became ill as a result of eating pet treats produced by Keys Manufacturing, the US Food and Drug Administration is helping the company identify the cause of salmonella. Keys Manufacturing has recalled its Pig Ears for Pet Treats product, which has been identified as the contaminated product.
Pig Ears for Pet Treats was shipped to 14 states including Texas from late September 2010 until the end of January this year. The news is disturbing not only because pets are becoming ill but also because the salmonella bacteria can be transmitted to pet owners.
There are symptoms you need to watch out for if you gave this pet treat to your dog. Among these include loss of appetite, listlessness, vomiting, and diarrhea. They will also feel abdominal pain and may have a fever. If you suspect your pet is infected with the bacteria, it is important to consult a veterinarian as soon as possible.
Even if your pet hasn’t shown any symptoms yet, it may be a good idea to have them examined. This is because the salmonella bacteria have more consequences for humans if left unchecked. On some occasions, people with this infection developed urinary problems, arthritis, muscle aches, eye infections, and heart and artery problems.
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Understanding Cash Management
May 28th, 2011 by Fairlane Raymundo. No Comments »
Cash management is a complicated concept that will take more than one post for you to be able to understand in a detailed manner. However, this post will give you an idea what it is and how it is different from Asset Management. Broadly, cash management is a system that could help you process receipts and payments in an organized and efficient manner.
This system is highly automated these days and most of it is offered by banks and other financial institutions. It, therefore, could mean that it may actually be easier than what it sounds like. There are different things involved in this system. It could mean a simple recording of the money that goes in and the money that goes out either by cheque, bank to bank transaction and cash. The money that goes in will also include cash in bonds and other types of securities to automated software that allows easy cash collection.
In the matter of cash collection, you can check out different options that could make cash collection from customers a much easier and much organized thing to do. Automated clearing houses make it probable to manage a business to business cash transfer by deducting the payment from the customer’s bank accounts and automatically deposits the money in your account. This, of course, will require some amount of paper work from you and the customer. The local banks may charge your fee for this service. The convenience, however, is worth it.
Lockbox service is another system that is common to businesses to hasten the Accounts Receivable process. The lockbox entails the formation of a post office box for the client. This is what the vendor will utilize as the address on all invoices. Under this, as soon as the money is received, the financial institution gets the payment automatically and then forwards them to the operating account for you, the customer. You should be able to access your account 24 hours a day but do understand that not all services updates automatically.
If you want to be safe from cheque fraud, you must have a system of account reconcilement also known as ARC. The ARC will keep the checkbook for an operating account balanced at all times. It also provides another level of protection, by allowing the client to upload a daily listing of the cheques that you issue. This will make it easier to check when a cheque is issued but was not authorized by you.
Underreporting of Hospital Errors is Common
May 27th, 2011 by Rosanne Lim. No Comments »
According to a report by Bloomberg, as much as 90 of patient injuries are not reported by hospitals. The US Agency for Healthcare Research and Quality has noted that the most underreported injuries consist of infections after surgery and pressure sores. The agency analyzed 354 “adverse events” such as medication errors, bloodstream infection, and pressure sores. This data was derived from 3 US teaching hospitals which will remain anonymous due to patient confidentiality. The adverse events in the study occurred on 33% of hospital admissions, using records of 795 patients.
Even back in 1999, the US Institute of Medicine has already concluded that 98,000 deaths and over a million injuries were caused by medical errors. Meanwhile, a study conducted by Milliman Inc, a Seattle-based consulting firm, have discovered that hospital claims from the period of 2001 until 2008 have cost 17.1 billion.
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Managing Future Payments of Structured Settlement
May 27th, 2011 by Fairlane Raymundo. No Comments »
The future payments you will get from your structured settlement is considered an asset and just like the stocks, bonds, and real estate, you need to think about how to manage it. It used to be when asset management was something only the super rich practices since getting an asset manager will already cost some amount of money. People who have less would think that instead of paying an asset manager, they would rather use the money or invest it too.
This is not true anymore. Even banks can help you manage your assets. Since structured settlement payments is a fixed income, you should think about how you make more money out of it.
Here are some pointers in finding the right asset management group:
1. If you are thinking of getting one, you have to be careful on which firm to approach. Established and stable professional firms and investment banks have a team of financial professionals.
2. Shop around. There are several good investment firms and even your bank should not be out of the picture. Scout around and practice due diligence. Research about their portfolio, ask other people, and check government records.
3. Before surrendering control of the assets, have a meeting with them to understand how your money is going to be invested.
4. Check their commitments. Make sure their goals are realistic and that they don’t overpromise. They should also ask your opinion or at least some direction on what type of investment style you would prefer the team to engage in. Single people usually are more courageous in making investments. For example, single young investors sometimes choose more aggressive investment schemes than older individuals or couples.
5. There should be a regular meeting between them and you. In these meetings, you should be given regular updates on what is happening with your money.
6. The best way to make the most out of what you have is to diversify. Don’t put your eggs in one basket. Try stocks, bonds, real estate and even an insurance.
Remember that you don’t need a big asset management group to invest your money. You can do it yourself or go to your bank and ask if they are offering such services.
How to Find the Right Structured Settlement Broker
May 26th, 2011 by Rosanne Lim. No Comments »
In many cases of structured settlement, neither the defendant nor the beneficiary know the real cost involved in the settlement. A broker can help both parties get a fair assessment of the cost based on a projections and calculations. Among the task that the broker will do include the following: financial analysis to determine the present value cost, communication with SSI and Medicaid when required, tax planning advice, and mediation during the negotiation process.
The structured settlement broker works with the plaintiff to negotiate a suitable set-up. Alternately, it is also possible for the broker to act as the middleman when the beneficiary wants to sell the structured settlement. In an ideal scenario, the attorney will work with the broker to get financial inputs that are relevant to the fiduciary position.
This input allows the attorney to take into consideration factors such as present income, debt, loss of wages, and medical expenses among others. Another benefit of hiring a structured settlement broker is that they also offer their services during the post-negotiation process. It is seldom for an attorney to be experts structured settlements as well. The combined expertise of a lawyer and a broker allows the beneficiary to have the best of both worlds.
A structured settlement broker explains the features and payment methods to the plaintiff. The person can then make the most suitable decision. It is important to take note that once the structured settlement has been agreed-upon, it cannot be renegotiated.
Meanwhile, for individuals who want to sell their structured settlement, it is crucial to ensure that the broker does not have any exclusive agreement with a buyer. If they do, this can result to a poor deal for you. The broker you choose should have access to several buyers and can obtain competitive quotes on your behalf.
What is Defeasance Clause
May 26th, 2011 by Fairlane Raymundo. No Comments »
We wrote about reconveyance yesterday which prompted some questions about what a defeasance is. It is a clause in the loan and mortgage contract that states the lender is legally obligated to turn over the title to you, the borrower, once you clear your loan. The defeasance clauses are required to be included in the contract on states where mortgages are not offered with a lien as a support. When there is lien, the lender will have no problem retaining an interest in the property and also retains the option to foreclose in case you fail to meet your obligations.
When you are in process of borrowing, make sure you carefully read the defeasance clause so you know what the original owners intends to keep and how things will work just in case you find yourself unable to meet some of the conditions on the mortgage contract. It is highly advisable that you get a lawyer to read the contract before signing it.
Where there is a defeasance clause in your mortgage contract, the lender will have a defeasible title. This a conditional title which means it can be taken back based on certain events like when you have completely paid off your loan. When this happens, the title to the property will then be transferred to you.
The clause may also indicate data or guidelines about prepayment fines, if the loan is structured with such penalties.
When you have fully paid your loan, you will now be able to redeem title and be recognized as the owner of the property. You can now use the property for other purposes so you can make even more money like sell it, refinance it, use it for a line of credit, or simply retain ownership and use the property to live in or to generate income. Given this, you should make sure that you finalize all legal proceedings as soon as you can.
The mortgage documentation usually includes pieces of information about the estimated repayment date, the amount that will be paid over the life of the loan, and other matters.
FDA Further Restricts the Use of Avandia
May 25th, 2011 by Rosanne Lim. No Comments »
The US Food and Drug Administration (FDA) is placing new restrictions on the prescription of rosiglitazone-containing drugs. These medicines are used to treat Type 2 diabetes and are sold under the name Avandamet, Avandaryl, and Avandia. Patients and healthcare providers must now enroll in a new program in order to receive these drugs.
These restrictions are part of a program launched by the FDA, the Risk Evaluation and Mitigation Strategy (REMS) – which requires a stricter management of marketed drugs with serious side effects. The new restriction for the diabetes drug was based on the finding that rosiglitazone enhances the risk of heart disease.
The Avandia-Rosiglitazone program limits the use of the medicine to the following patients:
- Those who have been successfully treated with the medicine
- Those whose blood sugar cannot be controlled by other diabetic medicines or who do not wish to use medications that contain pioglitazone
Rosiglitazone medicines will no longer be available on retail pharmacies. Patients who are enrolled in the Avandia-Rosiglitazone program will receive the drugs through mail order or through certified pharmacies.
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Structured Settlement and Reconveyance
May 25th, 2011 by Fairlane Raymundo. No Comments »
Some people who get periodic payment from a structured settlement use part of the payment to pay a loan for a property they bought or a big time investment they made. This is one of the ways you can make money out of your structured settlement future payment especially if the structured settlement future payments is not necessarily your sole source of living.
If you buy a property or made a loan, the lender will place a lien against the property. The lien will be put forward the first time you ever borrow. The reconveyance is what will take out this lien when you clear your credit completely. This will effectively make the property yours complete with all documentation.
For the reconveyance to be valid, it must be filed at the federal government office on the state where the property is on. There are several requirements for the reconveyance to be legal which includes all the information you will find on the deed of sale such as exact size of the property, address, value, and others. You need the deed of trust too because it is used to record the property being bought through the loan. The deed of trust is the document necessary between you, the borrower, and the trustee.
The owner of the property is not necessarily on the deed of trust unless you buy it from an individual and you take over their loan repayments for the property. In that case, the original owner’s name will be printed on the deed.
The reconveyance must be filed at the state where the property which will make it searchable when the lien has been paid in full. Once you clear your loan, you should get the original recorded deed of trust, the deed of full reconveyance and the lien note.
When you get the deeds to your property, the loan net or lien is the only thing that separates you and outright ownership of the house.
How can Structured Settlement Work for Me?
May 24th, 2011 by Rosanne Lim. No Comments »
If you’ve brought a personal injury lawsuit against an individual or organization for their negligence or intentional action and won the lawsuit, it is important to understand structured settlement. It may be a good option to consider in receiving the settlements.
In most cases, when you reach a settlement with the defendant or win the lawsuit, the defendant has to pay the amount in lump sum. For example, if you sued an asbestos manufacturer and it ended up with a one million dollar judgment, you’ll receive the one million dollar check. But that is only one option.
Structured settlements may make more sense in some situations. It pays you a recurring sum over time instead of a single lump sum payment. Its structure may benefit you in many ways depending on the payment scheme you choose. It is possible to set-up a complex arrangement consisting of an initial lump sum followed by monthly indexed installments with special provisions. On the other hand, it can also be as simple as getting yearly payments. Other reasons you may want to consider structured settlement include the following:
- Hedge against inflation – inflation can significantly lessen the value of your money over time. Structured settlement can be your hedge against inflation. To benefit from this though, it is essential to pick a company that can provide a fair amount over time.
- Better tax management – the amount of tax you would need to pay can be really high, especially if most of the compensation comes from punitive damages. Structured settlement can reduce the amount of tax you would have to pay the investment income you make on the remaining amount.
- Guaranteed income for life – while receiving a lump sum amount may seem to appealing to resist, it is important to keep in mind that it is so easy to spend money. No matter how large the settlement, it can disappear if you don’t manage the money properly. If you don’t know where to invest the amount, then it’s probably better to opt for structured settlement instead.
While structured settlements do have its advantages, there are some downsides as well. For one, you will be stuck with the terms once you agree to it. It cannot be renegotiated or changed. There is no way out short of selling your structured settlement to a buyer.
What is Economic Risk?
May 24th, 2011 by Fairlane Raymundo. No Comments »
If you are thinking of investing your money, especially the periodic payments you get from your structured settlement, you need to be aware of the economic risks that you will most likely face that will greatly affect the way your investments make money. Economic risk is more like a blanket terms that is used to describe the different factors that could affect the growth of your investment. This includes laws, overall international economic health, stock market, etc.
Before you make any kind of investment and even before you plan your structured settlement, you need to understand and study these economic risks. It does not ensure that it will make your investment grow or be protected forever but it will increase your chances.
There are different ways on how you can study the economic risks but nothing compares to actually immersing yourself to these factors. For example, when you are planning for your structured settlement, you need to be aware that the insurance company may actually utilize different ways on how to invest your money. There is an aggressive way, the moderate way and the conservative way.
If you are going to make the investment directly, there are also different ways on how you can grow your money like the stock market, corporate bonds, treasury bonds, etc. If you want to get into the stock market, you will have to get into the market for quite some time. You can try it with smaller amounts first before going big. It will also help to ask people who have experiences in these investments.
There are experts who try to predict the risks but no matter their expertise, they will never be right all the time and you will never be always right too. There are too many factors that affect the economy. You can only be as safe as you can. If you don’t have the money to pay for advisors, you have to do it yourself and do it wisely.
Know enough to be able to prepare for other things too like making loans or doing business. Banks look into these factors as a precaution.
