What You Need to Change a Tire

Your car trunk is probably already equipped with the three basic items you’ll need: a jack, a lug wrench, and a spare tire. If you can’t locate these items, check your owner’s manual to see where they’re stored.

It’s a good idea to take out these items at least once just to make sure you know how to access them when you need to. Check to see if your spare is inflated as well. For information on keeping tires properly inflated, you can check the Dept. of Energy website.

Steps to Change a Tire

Be sure to pull completely off the road before attempting to change your flat tire. You’ll want to be on a level surface, never on a hill or incline. Okay, you’re ready to follow these steps:

• Loosen the lug nuts on the flat tire. (You may need to remove the hubcap first.)
• You won’t be able to loosen the lug nuts that hold the tire in place with your hands.  Use the wrench or tire iron to loosen them, turning counter-clockwise. You may have to stand on the wrench arm to exert enough pressure. Do not remove the nuts yet.
• Place the jack under the car. You’re going to lift the frame a few inches off the ground, and where you place the jack is very important. There may be a notch or slot for it under the frame, either in front of a rear tire or in back of a front tire. You can also check the owner’s manual for instructions on where to place the jack. Now turn the lever on the jack and raise the car high enough so that the tire you are changing can turn freely.
• Using your hands, unscrew the lug nuts and remove them. Remove the flat tire by pulling it straight toward you.
• Place the spare tire on the car by lining up the holes with the lug nut posts. Using your hands, screw the lug nuts back on just tight enough to hold the tire in place.  (Do not tighten fully yet.)
• Now use the jack to lower the car slowly back to the ground. It’s time to tighten the lug nuts evenly. Take your lug wrench and tighten the nuts in an opposite-to-opposite fashion, tightening one lug nut partially (maybe halfway), then the one opposite, till all are partially done; then go back and tighten them fully in the same pattern. Do not simply go around the tire, tightening the lug nuts in a circle; your tire will not be as stable.

Congratulations, you’re done!  Be sure to find a gas station soon—some spares aren’t designed to go very far and won’t hold up long if you go fast.

Despite the gains, the rate of new-home construction and permits requested remains roughly half of what the construction industry once knew. But the slight increase indicates rising builder confidence and stronger job growth, giving credence to an optimistic outlook that the housing market is finally recovering, almost five years after the bottom fell out.

“We continue to believe that the bottom has been put in for housing … and while improvement will not be vicious nor rapid, improvement it still will be,” said Dan Greenhaus, chief economic strategist at brokerage firm BTIG, in a statement.

Builders have indeed grown more confident. According to the National Association of Home Builders/Wells Fargo builder sentiment index, May saw builder optimism rise to its highest level in five years. Homebuilders have reported better sales and increased foot-traffic from prospective buyers, the survey showed. Another predicting confidence in sales over the next six months also increased.

Employers have added 1 million jobs since the start of 2012, which has made it easier for more Americans to purchase a home. Unemployment has also dropped a full percentage point, from 9.1 percent in August 2011 to 8.1 percent in April 2012.

Mortgage rates have continued to hit record lows, making reticent homebuyers more willing to take the plunge. However, many would-be buyers are having difficulty qualifying for a mortgage due to tighter credit requirements and a need for a larger down payment.

Though new homes represent just 20 percent of the overall home market, their economic impact is far-reaching. Each new home built in the U.S. creates an average of three long-lasting jobs and generates roughly $90,000 in taxes, according to the National Association of Home Builders.

In spite of the positive indicators, builders sill must compete with deeply discounted foreclosures and short sales that flood the market. Lenders are anxious to get these properties off their books, and are willing to sell them at below market value if necessary.

Adding to builders’ competition, previously occupied homes offer homebuyers a better deal than new homes. The median price of a new home is about 30 percent higher than that of a re-sale.

But it’s not just sales of pre-owned homes that are slowing growth — new houses will most likely involve fewer resources and labor, according to a study released this week by The Demand Institute. The new housing market will see demand for new homes driven by buyers preferring less space for less money. The study projects the size of a new home to shrink by roughly 10 percent from 2010 to 2015.

Smaller home means fewer carpenters and tradesman to build smaller roofs, patios and bedrooms. That means fewer orders for drywall, carpet, shingles, windows and everything else. Construction workers will spend less time on each house, meaning smaller paychecks and a reduced influx of cash into the economy.

Should the current price hold, Facebook would be valued at over $81 billion following its initial public offering.

The tally does not reflect the fact that substantial portions of stock are not being put for sale during the IPO. These are being held for future employee benefits and as part of some of CEO Mark Zuckerberg’s unexercised stock options.

Also possible, the share price could be raised again, though Facebook has said that it will likely set its final price by Thursday night. The actual selling of stock to retail investors will occur on Friday morning.

Many of the workers at Facebook stand to become overnight millionaires thanks to their stock options. Making the company public will also create billions of dollars in new tax revenue for the federal government and for the state of California, where Facebook is based.

The influx of cash would certainly help California’s annual budget deficits. The state could make as $2 billion from the Facebook IPO. This sounds like it would be a huge boon for the state, but California, boasting an economy larger than most countries, is still far behind on its budget. Governor Jerry Brown recently reported the deficit at $16 billion.

At least one shareholder in Facebook, though, will not be paying any taxes to the U.S. government. Eduardo Saverin, who co-founded Facebook with Zuckerberg in 2004, has renounced his U.S. citizenship. His 4 percent stake in the company would have resulted in millions in capital gains tax for America. Saverin, however, has chosen to become a citizen of Singapore, which has no capital gains tax.

Saverin’s spokesperson, Tom Goodman, said, “Eduardo recently found it to be more practical to become a resident of Singapore since he plans to live there for an indefinite period of time.”

While investors may have been wary at first about Facebook stock values, the company appears on firm footing heading into its IPO. Recent IPOs from large tech companies have not always gone as well as hoped.

Groupon, the special deal dealer, began with its shares valued at about $20 each. Following numerous accounting problems and a variety of taxation expenses, the company saw its overall value drop by half over the course of the following year.

However, even with Groupon, what once looked like another cautionary tech startup tale has begun to turn around, at least for the time being. Groupon shares climbed in value by 23 percent today after the company announced quarterly earnings higher than previously estimated.

In a statement about the quarterly report, Groupon CEO Andrew Mason said, We are pleased to report a record quarter that demonstrates our progress in unlocking the opportunity in local commerce for merchants and customers worldwide.”

"First time, in November I believe, contacted me (Mark White), told me to get an attorny because his office was going sue me.

He started calling again last mid-week, last week. Today is 12/6/11.He has also been calling my boss at work.

One of conversations he told me all the he had about me as far as my ssn#, date of birth, all contact information, and my place of residence and work.

I foolishly gave him my debit card number and he faxed me an agreement form. This morning he called.

I ignored the first call and he imediately called back. I explained to him I was at work and very busy.

I asked him to send me the electronic signature agreement with the date it was made, and the amount owed.

He then got offended and told me he was not sending anything. I told him to stop calling. He said he will continue to call over and over.

His last words to me were "i will stock a hot rod in your ***!". After he called me a mother-****** and a son of a *****."

Mortgages, Car Loans, and Credit Cards

Uniformly across all lending industries your credit score determines the interest percentage you pay for a loan.  For instance, if you apply for mortgage or a home equity loan, borrowers with a credit score of:

• 720 or better, will get the lender’s lowest rate of interest.
• 675 – 718, will pay ½ or 1 percent higher than the lowest rate.
• 620 to 675 will pay 2 percent more in interest.
• Scores under 620, often won’t qualify for a loan with that lender, or will be moved to the “sub-prime” lending pool.

Similar interest variances occur with car loans and credit card offers.  Some credit cards carry interest rates as high as 18 percent or more.

Employment

Many employers require a background check before they offer employment.  A background check always includes a credit check. Know that when you give written permission for a background check, you are also giving permission for a credit check.   Both private and government employers require credit and background checks, particularly if you are applying of a position in finance or retail, or a position where a security clearance and confidentiality are vital.

Insurance

Perhaps the best kept secret in the industry is that the better your credit score, the lower your premiums.  That secret applies to homeowners insurance and car insurance, and more and more insurers are using your credit score to help determine premiums for life and health insurance.  The reason, according to the Insurance Information Institute, is that drivers with poor credit file 40 percent more claims than drivers with good credit.

Landlords and Utility Companies

Even if you’re a renter, your credit score can determine where you live and what you pay for rent and security deposit.  Most landlords require a credit check before they offer you a lease.  Statistically, landlords believe that people with good or excellent credit take better care of their property, and they have a track record for paying their bills on time.  If your credit is not good, the landlord may require a consignor or a higher security deposit and higher rent payments.  Or they may not rent to you at all.

Utility companies use your credit score to determine whether to ask for a deposit.  People with good credit scores will typically pay a smaller deposit.

Know Your Rights

The Fair Credit Reporting Act requires that you give written permission for a third-party to check your credit score.  Always read the fine print when applying for a job, insurance plan, or a loan.  If you are denied credit, employment, or insurance because of the results of a credit check, you must be informed of the reason in writing, along with the name of the credit-reporting company who provided the report.

Thompson, 54, had been taking heavy criticism since a glaring fabrication was revealed on his resume and the company website, as well as in documents filed with the U.S. Securities and Exchange Commission (SEC). Thompson claimed on his resume that he had earned degrees both in computer science and accounting from Stonehill College, a small school outside Boston. In reality, his only earned degree is in accounting. Yahoo initially issued a statement calling the false information an “inadvertent error.”

Thompson blamed a Chicago headhunting firm, Heidrick & Struggles, for the misleading information on his resume. The company fired back in an internal memo last week. “This allegation is verifiably not true and we have notified Yahoo! to that effect,” CEO Kevin Kelly stated to his employees.

Thompson’s departure comes less than a week after the company announced it had created a special committee to investigate his academic credentials and the qualifications for his hiring. With Thompson gone, Ross Levinsohn, who has been serving as the company’s head of global media, will take the CEO’s chair while the board searches for a permanent replacement.

Levinsohn had previously run Internet services within News Corp. before being hired by Yahoo’s former CEO, Carol Bartz, in November 2010. Bartz left the company last September. Now, Thompson has followed her to the door just eight months later.

“This may seem like a great deal of news to digest, but as you are all keenly aware, Yahoo is a dynamic, global company in a dynamic, global industry, so change — sometimes unexpected and sometimes at lightning speed — is something we will continue to live with and something we should embrace,” Levinsohn explained in an employee memo that was provided to The Associated Press.

The controversy over Thompson’s misleading bio came just a month after he laid off 2,000 employees (14 percent of the company’s workforce) in the largest downsizing in the company’s history. Thompson had also antagonized many in the industry when he opted to file a lawsuit claiming that social-network phenomenon Facebook had stolen some of Yahoo’s technology.

However, the Wall Street Journal reported Monday that it may have been Thompson’s recent diagnosis of thyroid cancer, rather than his unpopular leadership, that prompted him to step down. The Journal’s unnamed sources said Thompson is beginning treatment.

The new turmoil comes just as Yahoo, once a beloved Internet brand and pioneering online presence, has been fighting to regain its iconic status alongside Google and Facebook. Yahoo’s annual revenue fell from $7.2 billion in 2008 to $5 billion last year. During the same period, Google climbed from $22 billion to $38 billion. Facebook’s annual revenue went from $272 million in 2008 to $3.7 billion in 2011.

Loan Forgiveness

The federal government has a number of programs for students to get their loans forgiven completely. This means that the loan will be completely wiped off from the lenders’ books. Popular programs for loan forgiveness include the Peace Corps. and the AmeriCorps program. Both of these programs reward service work with varying degrees of loan forgiveness.

Loan Repayment

Loan repayment programs, which make it easier for borrowers to pay off their student loans, are more popular than loan forgiveness programs. These programs can be used to pay off large portions of different types of federal as well as private loans. If borrowers opt for any of these programs, they might either receive another loan to pay off their existing loans or can request their employers make payments directly to lenders.

Repaying Federal Loans

Borrowers can opt for the standard repayment plan, according to which they must pay off their student loans within a minimum of 5 years and a maximum of 10 years.

The graduated repayment plan, on the other hand, begins with low monthly payments, which are raised once in two years. This is a good option for graduates who feel that their income will increase over the years.

Borrowers who opt for extended repayment plans will have their loan terms extended.

Repaying Private Loans

In case of private loans, the repayment plans depend on the lender. Private loans can be tricky because they are associated with a number of terms, conditions, and fees in fine print. Borrowers should carefully check the loan documents to find out if they can get any breaks in the form of lowered rates and other benefits.

Changing Repayment Plans

Borrowers are allowed to change their repayment plans or switch from one repayment plan to the other, but the number of times they can be allowed to do this depends on the lender.

Income Based Repayment (IBR) Plans

IBR takes into consideration borrowers’ income size and family ties while fixing their student loan repayment plan; however, borrowers need to first apply for it and qualify for it. If borrowers qualify for IBR, their monthly repayments are adjusted according to their monthly income and marital status.

This repayment plan combines the student loans of married people and takes into consideration their joint income while fixing monthly payments.

Before applying for any student loan repayment program, one must get the required information by consulting a financial expert.

To maintain eligibility for the federal program, states must have unemployment at least 10 percent higher than one of the previous three years. This means that 8 states will no longer be a part of the program by the end of the week: Colorado, Connecticut, Florida, Illinois, North Carolina, Pennsylvania, Texas, and California. Of these states, almost half of the people that will lose government money reside in California.

Normal unemployment benefits last for as many as 79 weeks with a combination of state and federal money. The benefits extension program added another possible 20 weeks to that period. This granted nearly two complete years of unemployment benefits for the duration of the Great Recession.

Congress has recently passed a bill, however, designed to gradually phase out the program. In April, 15 states came off the program, and almost 135,000 people lost their benefits. This month’s eight states will raise the grand total to 33.

While the phasing out of the law has some positive implications for the economy, many are quick to point out that the measuring system does not necessarily mean that boom times have returned, just that things are not quite as terrible as they were.

According to Loree Levy of the California Employment Development Department, “In order for a state to qualify for the fed extension program you have to have a high unemployment rate and certainly California does have a high unemployment rate, it’s just not 10% higher than what’s it’s been over the last three years and that is a requirement of the program.”

The program also factors in only the total unemployment of a state, which may vary drastically in different areas of the same state. In California, for example, the unemployment rate in the interior, where the primary industry is agricultural, is closer to 20 percent. The overall unemployment rate for California is currently 11 percent.

On top of the cuts in government help, families in many states have had very short notice that their government checks will soon stop arriving, only two weeks in many cases.

According to Christine Owens, the executive director of the National Employment Law Project, “These cuts are coming faster than the economy is improving, which means more workers will have to survive without any jobless assistance, and families will have less money to put back into the economy.”

A senior staff attorney at the same advocacy group as Owens had similar comments. Said George Wentworth, “The hundreds of thousands of long-term unemployed who are being abruptly pushed off the extended benefits program are just the latest wave of jobless workers forced to survive without basic financial protections.”

Medical Expenses

A medical expense flexible spending account is the most common type of FSA offered by employers, and is also known as a “health savings account.” Money set aside in this account can be used to pay for items not covered by health insurance, including deductibles, over-the-counter items not considered drugs or medications, and co-payments. Additionally, items not covered by insurance, such as flu shots and other preventatives, can be paid for with a flexible spending account.

Dependent Care

Another type of flexible spending account covers dependent care. While typically this refers to minor children living in the home, and can cover childcare expenses including after-school enrichment costs, it can also cover the costs of the elderly or ill who may live in the home. For example, if an employee has an elderly or ill parent living in the home who they cannot care for during the day while at work, the flexible spending account can be used to pay for care and maintenance for these individuals just as it would cover the costs of a child in the home.

Some flexible spending accounts also allow for coverage of tuition expenses which are not sponsored by the employer. If an employee wishes to attend classes to enhance their marketability and the tuition is not covered by the employer, some FSA accounts can be used to cover these expenses.

Use It or Lose It

Each employer who offers an FSA has different requirements and restrictions; so, be sure to check with your Human Resources department to determine what your company’s FSA account can be used for, and what limits are associated with contributions. Any FSA will require proof, such as receipts, that the funds you withdraw are used for qualified expenses. In addition, most FSA programs require that any funds set aside be used within one year; it is not allowed to build up funds in an FSA account over several years. Furthermore, any funds not used for qualified expenses will be forfeit at the end of the plan year.

An Investment in Yourself

While there is always the option of obtaining a cash advance to cover these expenses, the benefit of an FSA account is that the money is set aside prior to state and federal payroll taxes. For those who wish to save money and reduce their tax burden, an FSA account can be a great way to accomplish this. Some expenses, such as medical deductibles and co-payments, can add up quickly when one needs medical care. While not as pricy as the cost of medical care itself, uncovered costs are an inevitable part of receiving treatment. By setting this money aside in an FSA, it is available when and if you need it — without coming out of your household budget.

New applications fell 1,000 to a seasonally adjusted 367,000 for the week ending May 5, the Labor Department reported Thursday. The four-week average for unemployment applicants fell 5,250 to 379,000.

Applications for unemployment benefits usually keep pace with layoffs; when the number of applicants remains below 375,000, it suggests that job growth is strong enough to lower unemployment. The unemployment rate has dropped a full percentage point since August 2011, down to 8.1 percent in April.

From December 2011 through February 2012, employers created an average of 252,000 jobs a month — the best three months of growth since the recession was declared over in June 2009 (not counting the hiring of temporary census workers in 2010).

March and April saw unemployment applications on the rise again, which coincided with weaker hiring during those months, stoking fears that the job market was faltering after a robust winter.

Experts have speculated that recent hiring data was distorted by an unseasonably warm winter that allowed construction firms and others to hire early. Economists are still trying to calculate what portion of the slower hiring in March and April was weather-related, and how much reflects actual economic weakness.

More than 500,000 Americans have left the work force since February, which is one reason that unemployment applications have been on the decline — people who have given up looking for work aren’t counted among the unemployed.

The U.S. economy grew at a lackluster 2.2 percent from January through March of this year, which equals less than 110,000 new jobs a month. The United States has replaced only about 3.8 million (43 percent) of the 8.8 million jobs lost during the “Great Recession.”

The number of people receiving unemployment benefits also dropped in part because extended benefit programs are running out of funds. More than 6.4 million people received unemployment benefits during the week ending April 21, 2012, down nearly 175,000 from the previous week.

On the bright side, employers advertised 3.74 million job openings in March, the best showing since July 2008. The increase suggests that the weaker hiring in March and April may have been temporary. It takes one to three months on average for employers to fill openings.