Target: Financial abuse of elderly

Anne Mills lost her financial security in 2005 after giving power of attorney to a neighbor who sold her Charlotte house. That neighbor is now charged with embezzling from the sale.

The 89-year-old woman's misfortune isn't unique. Elderly people are often the victims of such cases in North Carolina.

But one thing sets this case apart: It's being prosecuted. After three years without a single prosecution, Mecklenburg County is working to crack down on elderly financial exploitation. In a recent 20-month period, county social workers calculated $1.6 million in losses from cases they investigated. And the problem, which costs taxpayers when exploited seniors are forced to go on Medicaid, is destined to grow as baby boomers age.

Such cases can be difficult to prosecute, some law enforcement authorities say.


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Families put less emphasis on shopping

Eastsiders Adrian and Haydee Duran have three master's degrees between them, but they're learning how to manage their money better during GECU's second yearlong Savings Challenge contest.

"We figured with our education, we'd be fine, but we're having to rethink our plan for the future and make sure we're OK," said Haydee Duran, a schoolteacher.

Haydee and her husband, Adrian, the .


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UPDATE: UK Consumer Lending Dn, Mtge Approvals Hit Series Low

LONDON (Dow Jones)--U.K. consumer appetite for debt fell to its lowest level for nearly six years in March while mortgage approvals hit a series low as the global credit crunch continued to affect the economy, data from the Bank of England showed Tuesday. Total net consumer lending grew GBP8.2 billion in March from a downwardly revised GBP9.6 billion in February. That was lower than market expectations of GBP8.5 billion, according to a Dow Jones Newswires survey of economists. February's net lending figure was revised from GBP9.8 billion reported last month. The biggest monthly falls came in mortgage lending and consumer credit. Mortgage lending slid to GBP6.9 billion in March from a downwardly revised GBP7.3 billion in February, while consumer credit fell to GBP1.2 billion, as forecast, from GBP2.3 billion in February.


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Revenue of $402.4 Million, Adjusted Net Income of $18.7 Million and $255.2 Million of Non-GAAP Cash and Cash ...

CDC Corporation (NASDAQ: CHINA), a leading global enterprise software and new media company, today announced its financial results for the fourth quarter and year-ended December 31, 2007. Total revenue for full year 2007 was (U.S.)$402.4 million, an increase of 30 percent from (U.S.)$309.5 million in 2006. Adjusted net income(a) was (U.S.)$18.7 million for 2007. Non-GAAP cash and cash equivalents(c) were (U.S.)$255.2 million as of December 31, 2007.

"Despite the economic downturn, I believe our company is in a strong position," said Peter Yip, CEO, CDC Corporation. "We finished 2007 with record Q4 revenue of (U.S)$107.7 million while our software business achieved record milestones for the full year in all key metrics including license, maintenance and services revenue, and adjusted net income.


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(AFX UK Focus) 2008-04-30 11:03 India's sovereign rating affirmed at 'BBB-' with stable outlook - S&P

MUMBAI (Thomson Financial) - Standard & Poor's Ratings Services said it has affirmed its 'BBB-' long-term and 'A-3' short-term sovereign credit ratings on India, and added the outlook on the long-term rating remains stable, reflecting the country's strong economic prospects, external balance sheet, and its deep capital market, which supports a weak, but improving, fiscal position.

The rating agency said India's economic prospects remain strong, underpinned by the dynamic service sector, gradual deregulation of the industrial sector, continued trade liberalization, and modest improvements in infrastructure.

Economic growth is also benefiting from higher consumption and private investment demand, due to a growing middle class and favourable demographics, S&P said.

"Commitment to fiscal consolidation across all levels of government looks to be entrenched, aided by both strong revenue collection and expenditure controls," S&P's credit analyst Takahira Ogawa said.


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Invacare Corporation Reports Improved Earnings for Its First Quarter (3º)

24/04/2008 10:00:00 Business Wire in the Company s distribution businesses in the region and at the Company s subsidiary which manufactures microprocessor controllers, as well as continued cost reduction initiatives.
As previously announced, the Company is continuing to focus on reducing costs by moving manufacturing from New Zealand to China.
This process is partially complete, on track and expected to be fully complete during the third quarter of this year.
FINANCIAL CONDITION Total debt outstanding was $538.7 million at the end of the quarter, resulting in a debt-to-total-capitalization ratio of 48.2% versus 49.3% at the end of 2007.
The Company s debt outstanding increased slightly by $0.9 million during the quarter largely as a result of the negative operating cash flow for the period.


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City loan fund helps make art pay

Once they conceived the idea for a combined crafts and clothing boutique, the pieces came together quickly for partners Matthew Brown and Jaime Jennings.

The owners of Fancy Tiger Crafts and Clothing on South Broadway wrote their business plan, lucked into the location they wanted and opened their doors mere months after the idea popped into their heads.

Luck was with them again when they needed cash to grow, in the form of the Creative Enterprises Revolving Loan Fund, a program administered by Denver's Micro Business Development Corp.

The program, which doubled its maximum loan amount to $40,000 this year, is funded through $100,000 in annual Community Development Block Grant Funds and is designed to help small arts-related businesses start or expand in Denver.

The seed for the loan program came from the Mayor's Task Force on Creative Spaces, which in early 2006 found that the city's artists didn't typically view what they were doing as a business enterprise, even if they used their art to make a living.


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