Ways To Money

Private companies have pocketed profits of more than 2billion under the controversial private finance initiative scheme, a report estimates.

More than 700 hospitals,schools, prisons and other public sector projects have been built under PFI schemes, funded by the taxpayer.

Around 200billion has been given to the private firms managing the projects during the past 20 years.

More than 700 hospitals, schools, prisons and other public sector projects have been built under PFI schemes, funded by the taxpayer

And research into 154 schemes shows companies have enjoyed ‘astronomic’ profits averaging more than 50 per cent.

This has been achieved by selling and reselling many contracts in a secretive ‘secondary market’ – with none of the proceeds returned to the taxpayer.

Critics argue that poorly-negotiated contracts have been a licence to print money for private firms, but a terrible deal for taxpayers.

The scale of the profits has been a closely guarded secret by the companies involved.

But Dexter Whitfield, from the European Services Strategy Unit think-tank, scoured company reports and stock exchange notices to uncover the figures.

Analysing a sample of 154 projects, he found profits of more than 500million.

If the same level of profit had been achieved by all PFI equity transactions, he estimates private sector profits would stand at 2.2billion.

Mr Whitfield found that firms involved in the building of major hospitals have enjoyed the highest average profit margins, at 66.7 per cent.

In contrast, the profit levels of major construction companies over the past six to seven years have been just 2.8 per cent.

Transparency: Labour MP Margaret Hodge said: There has to be transparency around the system’

He also found that the Treasury is failing to monitor the excessive profits from the selling- on of PFI equity.

Mr Whitfield said: ‘It’s a wealth machine. It’s not neces

Full Post…

On The Credit Line, a radio show hosted by Credit.coms chairman and co-founder Adam Levin, Gloria from Woodland Hills, Calif., asked if only making inexpensive purchases on her credit card would negatively affect her credit score.

The price of the items or services you charge to your card does not affect your credit score. The factors looked at when your score is being calculated are the amount of available credit you have, your payment history, your attempts to acquire new credit and whether you have different types of credit (credit cards, mortgage, student loans, auto loans, etc.), and length of credit history. The credit scoring process can be mysterious or even seem unfair, but rest assured, the frequency and cost of the purchases you put on your card wont have a negative affect your credit score. However, your best bet is to keep a low balance on your cards and, ideally, pay the balance off every month if you can.

If you have questions, tune in live to The Credit Line on Los Angeles KFWB 980 AM every at 9 a.m. PST/Noon EST and call in at 888-539-2980, or email the show any time at credit980@gmail.com. Listen to the past weeks Credit Line for more debt and credit advice.

With perpetually high gas prices, Americans are being forced to find ways to reduce this largely unavoidable expense. One of the tools available to consumers is a cash back credit card. Competition between major credit card companies has led to recent increases in cash back rates for gasoline purchases, but these savings may not be as great as they appear.

Gasoline cards, like other rewards credit cards, generally have higher interest rates than non-rewards cards, particularly those offered directly by gas stations. Furthermore, even the best rewards will be a small fraction of the interest charges when cardholders fail to pay their entire balance in full and on time. Despite these drawbacks, a gas cash back credit card can be an effective tool for consumers who do pay their balances in full and want to shave a few dollars off every trip to the gas station. Here are some cards worth considering:

Discover Open Road: Discover cards are less widely accepted than VISA, MasterCard, or even American Express, but their customers are extremely loyal to their product. While most Discover cards offer cash back rewards, this particular card is specifically tailored to drivers. It offers 2% cash back at all gas stations and restaurants throughout the year. At all other merchants, cardholders earn 1% cash back. This card features no annual fees and no limits on the amount of cash back that can be earned.

Full Post…

Meeting the daily needs and extra emergencies is really problematic if you do not have enough money left in your pocket and have lost your current job. Unexpected issues always should be considered as soon as possible, while people have to struggle with the circumstances of the late 2000-crisis. Actually, if you are in such situations then you should apply for personal loans for the unemployed as this is the great alternate option to complete your necessities on time. These loans are created for unemployed people to assist them in the period of temporary financial difficulties.

As traditional loans, this form of financial aid is divided into two types – secured and unsecured.
Secured loans are suitable for home-owners as you need to provide collateral applying for funds. Any valuable assets can be used as guarantee, for example your house or luxury car. Interest rates are lower, because lenders don’t worry about your repayment capacity. Of course, you should consider that you risk your property in case of default payments.

On the other side, taking advantage of unsecured loans is very easy thanks to the absence of guarantees and credit check. Y Full Post…

Rising food costs hit consumer price index

Chinese overheating is finally slowing after numerous interest rate increases and other policies were enacted to cool the economy and contain inflation. GDP growth fell to 9.6% in the first half of 2011, down from 10.3% in 2010. Despite signs of progress on house prices, rising food costs in June pushed the country’s consumer price index to its highest year-on-year growth rate in three years. Investment also contributed significantly more to GDP growth than consumption—although policymakers have tried to stoke domestic demand and encourage more balanced economic growth. Highlighting that imbalance, China’s trade surplus rose to $22.3 billion in June, from $13.05 billion in May.

China’s ministry of railways was in the spotlight after a high-speed train collided with another on July 23, killing at least 40 passengers. Preliminary reports cited a malfunctioning signal as the cause, although the investigation is ongoing.

Former railway minister Liu Zhijun made headlines in February when he was removed from office on charges of corruption. The charges and recent crash have cast doubts over the value of China’s massive investments in high-speed railways in recent years. Many in China

Full Post…