The Ledger

Making sense of money, 2010

Archive for November 2010

Hope For Small Businesses

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Small businesses in Connecticut were celebrated in West Hartford Saturday. With the holiday season approaching, many small business owners are hoping that shoppers will frequent their shops as opposed to buying from large companies. A boost in their sales during the holiday season would boost their revenue for sure!

Brittany Everett

Written by ccsu236

November 28, 2010 at 3:13 am

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Black Friday

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By Charles Desrochers

I never understood why people would wake up in the middle of the night in order to fight tooth-and-nail for the chance to buy one of two televisions at 10 percent off.

I tried to think back and although I’m still in the springtime of youth I don’t recall the day after Thanksgiving being such a fuster-cluck.

This guy,

Jdimytai Damour, died after being trampled to death in 2008 at a Wal-Mart.

According to Bloomberg News, some analysts are guessing a 4.5 percent increase in says this holiday season from last year. The large gain would mean that retailers would be nearly one percent higher than they were before the market crashed in 2008. The New York Times says that last year 318 million was spent on Black Friday. The whole idea of the sales, just like with any time of the year, is to get the customer in the door so they can buy fully priced merchandise alongside the two dollar copy of their ‘Wild Wild West’ DVD. To that point, Wal-Mart offered 40 percent discounts on 150 of its items.

Because it’s Wal-Mart though, thousands of items will still be full-priced.

Written by ccsu236

November 26, 2010 at 10:59 pm

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Death Penalty for a Connecticut Killer

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on November 8 , 2010- jury voted to impose the death penalty on a habitual criminal who took part in a home invasion in Cheshire– a crime of such inexplicable cruelty and randomness — that it upended a debate about capital punishment.

Connecticut provides for execution by lethal injection. But because of appeals, death penalty lawyers said it would probably be many years before Steven Hayes faced execution, if he ever does.

 In 2005, a serial killer, Michael B. Ross, was the last person executed in Connecticut, after he decided to forgo further appeals. He had spent 18 years on death row. Mr. Hayes will join nine other inmates awaiting capital punishment in Connecticut.

As detailed in this local article, which is headlined “Steven Hayes Defense Outlines High Cost Of Putting Someone To Death,” the significant economic costs of capital punishment has moved from policy debate into a legal argument in one high-profile case.  Here are the interesting details:

Steven Hayes’ defense attorneys, in a bid to spare his life, say they have evidence that counters “the popular assumption that the cost of executing someone saves the state money” compared with a life sentence.

They cite reports that offer these statistics:

In Tennessee, death sentences in murder cases cost 48 percent more than life sentences.

In Washington State, death penalty cases cost $470,000 more in defense and prosecution costs than non-capital murder cases.

In North Carolina, it costs $2.16 million per execution more than it costs for a non-capital defendant sentenced to life in prison.

These were among the reports put forth  Monday in their fight to convince a Superior Court judge that he should let them use the unusual strategy of arguing economic reasons to keep the convicted triple murderer off death row. The defense claims that sparing Hayes’ life will save the state and taxpayers “many millions of dollars.”

-Yasmin Elgoharry

Written by ccsu236

November 10, 2010 at 6:05 pm

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Less than 12 Inches of snow – might cost you over 20 dollars

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On Monday , November 8 – Connecticut residents experienced their first glance at 2010 winter season– with hail, rain, and school delays.

However, with snow season ahead, some residents are concerned about the cost of snow removal.

Here are a few tips that might help: if you are a private residence with a 1 to 4 car driveway it will take a snow plow a few swipes to clear your driveway up. It will not take much more time for the plow guy to clean a 4 car driveway versus a 1 car driveway so that should not drive the price up. It will cost $20 to $30 per visit to get your driveway plowed.

Also, for most storms (anything below 12” of snow), one visit should be enough. For storm where the snowfall is over 12” the plowing service may need to make two trips, especially if the snow is spread out over a length of time. Then, they may charge you double for a second visit.

It may also cost an extra $5 to $20 to hire someone to shovel your walkway. The extra cost will vary depending on the size of the area that needs to be shoveled. A plow service may hire someone to ride in the truck and shovel walkways while they plow the driveway. Some snow removal services offer this service and some don’t. Make sure to ask your potential snow removal company if they offer this service.

You can choose to shovel the walkway yourself and save some money. But honestly, the main driveway is the hardest part of snow removal.

-Yasmin Elgoharry

Written by ccsu236

November 10, 2010 at 5:39 pm

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Economy Fuels Election Results

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About a third of voters said their household suffered a job loss in the past two years and those setbacks didn’t give their votes a clear direction, according to an article by The Seattle Times.

Last Tuesday night, at the Greenwich Hyatt where Tom Foley and Mark Boughton were stationed for the results of the gubernatorial race, many supporters were talking about how Obama isn’t the reason for our economic issues, and that he has helped put us in the right direction, but America needs to be under republican control again.

The back-and-forth views are definitely a sign of the times because if this were 20 years ago you were either in one party of the other, not agreeing with certain things from the other party.

– Brian Johnston

Written by ccsu236

November 8, 2010 at 10:09 pm

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Pessimism Grows as Stocks Return to April Highs

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As if the Stock Market could get anymore confusing.

Last April when the Standard & Poor’s 500 index reached 1,200 Wall Street predicted a cut in our economic growth and projected that corporate earnings would be less than in previous years.

Yet the stocks have been continuing to go up. James Paulsen, chief investment strategist at Wells Capital Management, says “Stocks are climbing a wall of worry.”

According to http://www.wfsb.com/money/25664054/detail.html , “Back in April, economists surveyed by the Associated Press predicted the economy would grow 3 percent this year. Unemployment was expected to inch down to 9.3 percent by the end of the year and to 8.4 percent by the end of 2011. Now they think economic growth will be 2.6 percent this year and won’t hit 3 percent even next year. And they expect unemployment to remain close to the current rate of 9.6 percent this year and 9 percent 2011.”

A lot has changed since April, but not all for the worse. In the summer, investors were worried about a second down turn, but since then those fears have receded.

But the Federal Reserve is less convinced that the Stock Market will continue to go up. They released the details of its “quantitative easing” plans Wednesday, it said “the pace of recovery in output and employment continues to be slow.” Translation: The recovery is shaky.

 

Jessica English

For more information check out these links:

 

http://www.wfsb.com/save-money/17686933/detail.html – Timeline of U.S. Financial Crisis

http://www.wfsb.com/save-money/17689800/detail.html – The Downfall of the DOW

 

 



Written by ccsu236

November 8, 2010 at 5:38 pm

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The Two Faces of Gas Drilling

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By Charles Desrochers

A recent New York Times Article touches on the topic of drilling for natural gas in America but focuses on the two perceptions of the controversial energy source. Instead of being front he perspectives of either sides extreme, which would be the industry and it’s special interest groups and the few families that have been most affected by ecologic damage, it focuses on the seperation in thinking styles based on geography.

The major difference- the article implies- is that states like Louisiana and Arkansas are accustomed to oil drilling and see it as a source of communal progress and enablement while the north sees it as an environmental catastrophe.

Read the rest of this entry »

Written by ccsu236

November 6, 2010 at 8:31 pm

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