US Finance World

From Champagne to Châteauneuf-du-Pape, vintners across France are breathing a collective sigh of relief. Thanks to favorable climatic conditions over the past 12 months, 2009 is expected to be an excellent vintage.

The news is raising hopes among France’s beleaguered wine and spirits producers, who saw their sales drop a terrifying 25 percent in the first half of the year, as consumers cut back on the finer things in life amid the global financial crisis.

Although French wines won’t be any more affordable — if you want cheap, Charles Shaw (Two-Buck Chuck) should suffice — buzz about an exceptional harvest could get the world’s wine snobs drinking French again.

Fabled winemaker Christian Moueix has likened this year’s vintage to 1947, when a phenomenal harvest made his Saint Emilion region legendary, according to the Canwest News Service.

Read more…

BancorpSouth (BXS) is announcing earnings this week. The short base has been climbing over the past month, and currently stands at 11% representing just under half of the lender supply.

Results from the other regional banks have been mixed; Bancorp South has had a lot of positive coverage recently, but short sellers are taking a more pessimistic view.

To download the whole article click here.

Most people have heard of selling things on eBay and having garage sales to generate fast cash. Others on the other hand, shop at garage sales when they need fast cash. They have found ways to turn people’s trash into fast cash. You too can turn simple money-making ideas into fast cash. Here’s how.

You can find very good bargains at garage sales. When you see an item, visualize its potential. Could someone use it if you painted, upholstered, or simply cleaned it? Many times, that’s all you need to transform a chair or a table into a functional piece. 

Notice the following money-making ideas that you can use to generate some fast cash.

Lamps Many times, all you have to do is add a fringe braid, which you can buy at any  store, to the shade. To add the fringe braid, apply glue along the edge of the bottom of the shade and carefully affix the fringe braid over the glue along the edge. The

Read more…

So the question is, Does a Debt Consolidation Service damage your credit rating?

The good news is on the long term basis it does not hurt your credit rating. If used properly it will help to improve your credit scores. The bad news is it does hurt your credit rating on a short term basis. If you are at the point where you are even considering a debt consolidation service, your debt is quickly approaching a critical mass which needs your quick and determined action to reverse.

Most debt consolidation services involve credit card debt. The dilemma with credit cards is the fact that they are unsecured lines of credit. Unsecured means the borrower does not pledge any collateral as security for the line of credit. Since the creditor takes on more risk of loss from default without any collateral, a higher interest rate is charged to offset the additional risk, as well as reward the creditor’s extra risk.

This higher interest rate will quickly boost the account balance on a skyrocketing basis. i

Read more…

Now it’s getting serious, we are up to 103 banks closed, 2 more just crossed the wire. Partners Bank in Naples Florida , American United Bank, Lawrenceville GA, Hillcrest Bank Florida, Naples FL, and Flagship National Bank, Bradenton FL, failed today, and there might be more later so check back, it is only 6:11 EST and West coast does not report until after 9 PM EST.

Bank / State / Assets / Deposits

Partners Bank / FL / $65.5M / $64.9M

American United Bank / GA / $111M / $101M

Hillcrest Bank / FL / $83M / $84M

Flagship National Bank / FL / $190M / $175M

Partners Bank FDIC losses, estimates it will lose $28.6M from this closure. There was no loss-share agreement reported with Stonegate Bank, the acquiring bank.

American United Bank FDIC losses are estimated to be $44M. The FDIC did enter a loss-share agreement with Ameris Bank, the acquirer, for $92M.

Hillcrest Bank Florida FDIC losses are estimated to be $45M. T

Read more…