Pubs Bars and Inns in Kent, UK - A 30 Second Guide

If you are looking to go out for a drink in Kent then you certainly have a considerable number of options. There are over 1700 pubs, bars and inns in Kent offering a diverse range of drinking experience. Also as diverse is the range of interesting names given to the public houses across Kent and this article aims to discuss some of those.

First of all lets look at the spread of pubs throughout Kent. As you would expect the majority of pubs are found in the major conurbations, with scatterings of pubs throughout the villages.

Looking at the leader board we can see that

Maidstone has 132 pubs
Canterbury has 124 pubs
Rochester has 97 pubs
Ashford has 87 pubs
Gravesend has 87 pubs
Sevenoaks has 77 pubs
Tonbridge has 71 pubs
Dover has 66 pubs
Ramsgate has 64 pubs
Dartford has 61 pubs
Gillingham has 60 pubs

So, onto the names. The most popular name for pubs in Kent is “The Royal Oak”. There are Royal Oak pubs in Ashford, Bexleyheath, Canterbury, Dartford, Dover, Edenbridge, Folkestone, Herne Bay, Romney Marsh, Sevenoaks and Tunbridge Wells. Some places even have 2 Royal Oaks, and in total there are 19. Next most popular is the Red Lion, with 15 spread across the county and then the Kings Head, The Bull Inn and The Chequers Inn. The Bell Inn, The George Inn and The Wheatsheaf are also popular names.

Some of the less common names we have
The Abergavenny Arms, Tunbridge Wells, originally called The Bull, but renamed in 1823 in honour of Lord Abergavenny who owned the property at the time.

The Barge, Gillingham, once stables for Admiralty offices, then fishermen’s cottages and then a pub called The Cricketers. It was renamed in 1991.

The Cat Custard Pot in Paddlesworth, which used to be called the Red Lion, but when a new sign was required many years ago the artist drew something which more resembled a cat.

Looking deeper within the names we can see that in Kent the most common type of pub is the Inn, with nearly 200 occurrences. Common examples are The Bull Inn, The George Inn, The Bell Inn and The Chequers Inn. Less commonly we have Old Eden Inn, Man of Kent Inn, Britannia Inn, Junction Inn and Muggleton Inn to name but a few.

“Arms”, is the next most common word to occur in pub names in Kent, with such names as The Kings Arms, The Foresters Arms, The Coopers Arms, Port Arms Inn, Fruiterers Arms, Town Arms and The Colyer Arms. There are 106 pubs across Kent with Arms in the name.

There are 43 pubs contain the word “Tavern” in their name, such as The Railway Tavern The Vale Tavern, Darenth Tavern and The Park Tavern

33 pubs contain the word “of “ in their name, examples of this are The Prince of Wales, The Man of Kent, City of London, Duke of Kent, Beauty of Bath, Sovereign of the Seas and Heights of Alma

Also 33 pubs contain the word House in their name
e.g. The Old House At Home, The Albert Public House, The Halfway House and Red House

28 pubs are horse related, which is unsurprising as most pubs were originally coaching inns. Horses are usually White, Black or Olde, but can also be Hungry or Flying. Other Horse related pub names in Kent include The Horse Groom,Sea Horse and the Three Horse Shoes.

There are 26 pubs contain the word Head in their name
The Kings Head, The Queens Head, The Dukes Head, Elephants Head, The Bulls Head, The Nags Head, Rodney’s Head, Hogs Head, The Leopards Head, The Buffalo’s Head, The Griffins Head, The Druids Head, Stags Head, Monks Head Public House, The Saracens Head, The Tigers Head

There are 22 pubs contain the word Bar in their name, which shows growing number of trendy bars catering for a more youthful clientèle. Examples are O Neill s Irish Bar, Bar Coast, Harbour St Bar, Bar Vasa, Sloanes Bar

Finally 21 pubs contain the word Old or Olde in their name.
The Old House At Home, The Olde Lantern Inn, The Old Ship, The Olde Coach Horses.

So there you have it. Kent is an excellent place to go out drinking you should easily be able to find something to suit your mood. Now, if you’ll excuse me I’m off to the Nordenfeldt Tavern for a quick one.

Andy Bowen is webmaster of UKReccy.net . The number 1 resource for over 43000 towns, cities and villages in the United Kingdom, including those in Kent

Tags: Bar, Guide, Kent, UK

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The Future of Solar Energy

With the current concentration on global warming, the existence of which is denied by only a few naysayers, developments in solar power are moving at a pace to fill the need for efficient green solutions to our seemingly insatiable desire for energy.

The failure of solar power to be more widely adopted to date seems primarily to be due to cost concerns, where the payback periods are now quoted to be 7+ years, and thus beyond the normal financial horizon for many potential participants, whose average occupancy of any particular house is expected to be 7 years. When a lower cost can be achieved, the benefits of mass production will cause a snowball effect in purchasing systems, and that time would seem to be drawing closer.

Durham University in the UK, ever photovoltaic solar research project, with more than $12M to be spent in the next four years, starting in April. The principal investigator, Professor Ken Durose, has committed to “make a major contribution to achieving competitive photovoltaic solar energy”. Nine industrial partners and eight institutions will be involved in the project, which is aimed at reducing the thickness, and thus cost, of solar cells.

Much as this may seem to be a promising advance, an alternative approach is being adopted by commercial interests, in the form of a company called G24i which is also in the UK, in Wales. They have developed what are called fourth generation solar cells, which are a thin-film product, the latest buzzword in the solar marketplace.

Their invention is a dye-sensitized solar cell (DSSC), which is, simply, printing a thin layer of titanium oxide on to a thin-film of metal foil, and then performing some molecular manipulations to achieve the desired reaction to light. The product is manufactured on a roll-to-roll process, similar to that used in the textile industry. They commenced production last year, and are planning to expand this year to a production capacity of 200 Megawatts.

The process by which DSSC works has been compared to that of photosynthesis in plants, and it is more sensitive than conventional silicon cells, producing electricity from a wider range of the light spectrum and lower levels of lighting. It is very flexible and one-fiftieth of the weight of conventional glass silicon cells, and can even be produced in designer colors! The initial market is for devices that could not be made with the older technology, supplying power for portable electronics, particularly for mobile phones in the developing world.

With a growth in the traditional solar cell market of 35% per annum, and a continuing global shortage of silicon projected up to 2010, G24i would seem to be very well placed to take away business from the conventional suppliers. Their technology is available at much lower cost, and expansion would seem to be limited only by their ability to grow in a controlled manner.

On what seems to be a more esoteric front, it’s reported that scientists are considering the possibility of a space engineering project that would dwarf any other that has been attempted to date. While the sheer size of the project would require governments to take the first steps at an international level, researchers from the USA, Europe and Japan are proposing building giant solar arrays in orbit and beaming the energy to Earth.

Lieutenant Colonel Paul Damphousse of the Pentagon has spoken of the need for “hundreds of sorties every week” in order to move the tons of material that would be required. A recent study by the Pentagon concluded that such a project was nearly technologically possible right now, and that robots could be used to facilitate the construction in space. More realistically, perhaps, Leopold Summerer of the European Space Agency has projected that the generation of power in space may be about 20 years away, but the concept is being actively pursued.

Finally, what may prove to be the most promising current development in solar energy has just been announced by Global Warming Solutions, Inc. of Houston. Successful tests have been conducted on hybrid solar modules, which produce both heat and electricity from one unit. The combined efficiency of the modules is reported to reach 85%, significantly better than the 40%+, then a record, achieved a year ago by Spectrolab using concentrator solar cells to produce electricity only.

The technologies used include some originally developed for industrial lasers, stated Dr. Alexander Kornaraki, the COO. “The quantum pump separates the heat and the electrical photons of the incident solar light”, giving the most efficient spectra to the photovoltaic process. The modules produce up to 28 Watts of electricity and 93 Watts of heat per square foot. The projected payback period is no more than five years.

Global Warming Systems have several pilot systems, and one with 108 square feet of panels provides 100% of the energy, both electrical and heating, to a single family home. Even more promising, these panels are efficient even as far north as Alaska, which is a new achievement for the industry.

Learn more about Solar Power and how you can use it to produce electric power, to heat, or even cool your home!

Tags: Business, Energy, Europe, Government, Oil, Solar Energy, Technology, USA

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Politics As Usual

I can see the ad on eBay when I close my eyes, one senate seat, price $500,000.00, pick up only. Sure the news would have leaked sooner, but is this idea really such a stretch? Here we have yet another politician whom we can assume is well educated and intelligent and who is well aware of the watchful eye that follows, and eventually catches up with public servants gone wild. For reasons that escape me, this does not appear to factor into the decision making process, or perhaps it is just that the elitist feels such a sense of entitlement, that their actions play out like the actions of a sociopath, without conscience and with complete and utter narcissism.

I am of course speaking of the scandal of Blagojevich and his alleged participation in the selling of our President elect’s vacant senate seat. What strikes me as even more remarkable then the charges against Mr. Blagojevich, is the defiance he displayed by showing up at his office to work, despite the fact that he was to relinquish his duties while under investigation. This willful act of brazenness reminds me of an old Seinfeld episode, where the character George Costanza gives his boss a verbal thrashing, then quits and walks out the door. Regretting his actions, George shows up at work the following day as if nothing ever happened, thinking no one will notice, including his boss. Okay, maybe not the best example, but you get the point.

Why are we the public, the only ones not shocked by the alleged actions of yet another politician who has allegedly soiled the very foundation that is our government? Certainly, the Washington elite are well aware of the corruption that plagues their inner circle. Is their feigned surprise merely a guise to keep us of their track? Ask yourselves this question, if a politician falls in DC and there is no one around, does he make a sound and proclaim his innocence and do we really want to hear it?

I’m a freelance writer who is a former New Yorker now living in New Mexico. Many moons ago I wrote a legal column “The Legal Eye”, for a major internet provider. I have a background in sociology and am currently in the health field. I am a big fan of the late Erma Bomback and currently enjoy the rantings of New York Times columnist Maureen Dowd.

Tags: Corruption, Government, Oil, Price

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Death Before Bankruptcy - No Way - Hope is on the Horizon

In today’s economic conditions death seem to be the only way out for many consumers who are consumed by over whelming debt. Although bankruptcies are up in filings for the third year since reforms went onto effect many consumers feel that their options seem hopeless yet they still plug on through the daily grind. For many alternatives such as the housing bailout seems like it’s to strict on its guidelines or to ambiguous in its terms to clearly point out the pitfalls and loopholes used to gain the upper hand in the situation by the mortgage lenders.

While we are in these turbulent and chaotic times we need to keep out wits up, our spirits high so we can see clearly through the stormy and uncharted waters of our financial status. For many it’s all or nothing, the fight seems hopeless will I ever survive? Lawyers go for blood and prey on those challenged in tough times. Are they really giving you the best advice for you or for them?

If you have ever had to seek counsel for filing a bankruptcy you know it’s a gut wrenching and sickened type of feeling. You know you’re in for a life long time of hurt and suffering. However if you’ve exhausted all of your options and you can’t take the pressure of your creditors calling and demanding terms you are unable to afford then you need to seek shelter.

Seeking shelter doesn’t mean go hide, change your address and telephone number it means legal protection for you as well as your sanity. Stop the annoying creditor phone calls; get the debt goons off of your back and regain your sanity back to a time when life was a bit easier and more joyous for you.

Although finding an attorney who is both ethical and sensible to your needs is often an oxymoron in the true sense of the meaning of the word they do exist. When in doubt seek them out. This is when having direct access to a professional organization of seasoned attorneys who are both smart and compassionate to your needs is essential.

We’re not suggesting you seek out a well known discounted legal firm or county legal aid for your personal or commercial situation, we’re merely suggesting you have access to a knowledgeable professionals so that if you don’t like the individual your dealing with you have a back up or two or even three.

Consultations are usually free and can be very informative, although some firms may have a hidden agenda to get your commitment on the dotted line; don’t sign anything until you get all of your facts answered and you feel that bankruptcy will have your best interests covered.

If you have not sought out financial counsel this may be up your alley instead. Remember a professional’s whole status depends on the not only the advice given but the business received. Having a selection of more than one professional can make the difference in your outcome financially as well as mentally.

Get the facts you deserve and never jump to a conclusion, instead rely on a trusted group of professionals dedicated to your overall success, not theirs. Remember no matter where you are today there will always be a brighter tomorrow. Learning the options, facts and different solutions for you are your responsibility. Seek out a close friend or family member even a co worker if you have this type of rapport with the individual; ask them about their experiences and pitfalls.

Ask them about personal triumphs then ask them what advice you might need when consulting with an attorney. Once you have scoured your inquisitiveness and come up with questions you are now armed to tackle the interview. You’re confident and sure about your needs and desires.

Learn the secrets of saving money, making money and creating wealth by maximizing protecting and growing your income. Receive trusted, unlimited advice from our financial counselors, attorneys, and financial mentors that will save you literally thousands of dollars and tons of frustration. You owe it to yourself to seek out qualified advice. Stop walking around in fear and get empowered. Maximize your wealth today

Tags: Attorney, Bankruptcy, Business, Debt, Dollar, Election, Guide, Law, Money, Mortgage

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Hydrogen As a Fuel Source

From water to air, there are a number of ways to energize your car. Alternatives to petroleum are a hot topic today. The growing concern for the environment is steadily increasing. It’s an important issue that many people want to feel personally connected to. Hydrogen as a fuel source is not an entirely new idea. But science is taking a closer look at the impact that using hydrogen could have on both the environment and the economy. The best solutions are the ones that have more benefits than drawbacks.

Hydrogen burns in a vehicle much the same way that petroleum does. This makes it a good imitation even though it is not at all the same thing. Many alternatives are not this easy to work with.

Hydrogen makes a great fuel option for more than just automobiles. It can also be used in airplanes and even bicycles. A bicycle is already a great alternative to driving a car. By powering it, you make it faster and more efficient while still avoiding the use of a vehicle.

Major car companies such as Daimler Chrysler are already investing in hydrogen options for drivers seeking a hydrogen vehicle solution. These types of things certainly do not develop over night but the fact that they are in production at all is a great sign.

Hydrogen is an energy source that can be obtained from both renewable and non-renewable resources. This makes it much more environmentally friendly than some other petroleum alternatives currently being used and studied. It is much more flexible.

One really positive aspect of hydrogen fuel is that it can be produced and used continuously. It is highly renewable which is exactly what many consumers are waiting for. Making a fuel change is not a light decision to make. Benefits like this can help to aid your choice.

Every positive thing always has a negative counterpart. It’s just the way the world works. Hydrogen is not a fool proof fuel option. The burning of hydrogen actually produces more emissions than regular petroleum gas does. Since less emissions is what we really need, that just is not acceptable.

There are economic aspects that do come into play here. Hydrogen without fossil fuels is not economically friendly. When it comes to money, unfortunately that is where a lot of decisions are made. Anything that is not good financially just won’t take off no matter how good a fuel it is. The two must go hand in hand.

If hydrogen was to be a leading fuel alternative to diesel and petrol, then plenty of preparation work would have to be undertaken first. In order to properly produce clean, useable hydrogen, new facilities and systems would have to be built. The cost of that would be substantial. These types of developments cannot be done without intense amounts of study and planning.

Hydrogen is a realistic fuel source that is in use in some places. However, it is not yet ready to become a worldwide solution.

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Tags: Economy, Energy, Fuel, Gas, Money, Tips

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Capital Campaigns - Roadmap to Success

If your nonprofit is considering expanding or renovating, you’re probably thinking about launching a capital campaign. But how do you create an effective campaign? How many donors do you need? How much money should you try to raise? Here’s a quick tutorial to outline the answers to these questions and more.

A capital campaign is a significant project for a nonprofit organization. A successful capital campaign, and the completion of the project for which funds are raised, can be a transformational event. Ideally, when viewed in retrospect the capital project will appear as a logical and inevitable step in the development of the organization as it strives to fully serve its audiences and community.

With careful planning and keen attention to detail, a capital campaign can be a powerful bridge to the future.

A successful campaign is the result of many constituencies working together for a common goal, including the board, staff, volunteers, donors, and community representatives. As the project grows from an idea to a proposal to reality, a Campaign Planis key to success. A comprehensive plan provides a framework for action and a template that is transparent and universally accepted. It is a document that speaks both internally (to those who are managing the campaign) and externally (to those who may be asked to contribute or who may be impacted by the project). As campaigns are multi-year, a clear plan also serves as a guide if key team members drop out and new team members are brought in.

1. The Goal

A key element of success is to accurately estimate the amount of money needed to be raised.

The costs of planning, acquisition, renovation, and endowment must be carefully determined. In addition, the following items need to be added to any actual cost of building, buying, or starting an endowment.

? Ten percent for campaign materials, cost of consultants and staff time, office extras.
? Ten percent for building project extras like insurance, building permits, design costs, and estimates for cost overruns or unforeseen delays.
? Ten percent additional for people who pledge but cannot or will not finish paying, or whose stock gift depreciates.
? An additional ten percent for added protection.

2. Timing

Many nonprofits hesitate to undertake capital campaigns because board members believe that the timing isn’t right; typically, if the national economy is slow, or if the stock market is underperforming. While there may be good reasons for postponing a campaign, board members should remember that the national economy is cyclical, and donors make annual appeal gifts from discretionary cash and capital campaign gifts from assets. Most organizations do not run a major campaign more than once every few decades. Your supporters will be enthusiastic about supporting a transformative project and will plan accordingly.

3. Organization

The nonprofit must have the capacity to undertake a capital campaign. A successful capital campaign must have the full faith and support of the organization’s board of trustees.

However, support grows incrementally. The following action groups are formed as the campaign progresses:

? Steering Committee. Typically composed of not more than twelve, including board members, the executive director, a campaign consultant, and perhaps major donors who are not on the board. The steering committee organizes and spearheads the campaign.

? Outside Consultant. Generally, capital campaigns require the participation of a part-time fundraising consultant who can help manage the campaign, train staff and volunteers, and interview prospects during the feasibility study.

? Campaign Committee. This group may be very large and include board members, donors, and community supporters who want to take an active role in the campaign. The campaign committee grows as the campaign gains traction. Subcommittees may include finance, fundraising, architecture and building, and public relations.

? Volunteers. These are campaign supporters who participate sporadically. They may include community leaders who host fundraising events in their homes, or who have a connection to a potential donor.

4. Campaign Case

The campaign case is the key document that provides a rationale for the project. It is both an internal summation of the organization’s goals and a marketing tool to help inform prospective donors. The case must be prepared early in the process and may be revised periodically.

5. Gift Pyramid

Once the total monetary goal has been set, a gift pyramid is created. This shows the number and size of gifts needed to meet the goal. Gifts may range in size from millions to under a hundred, depending upon the goal of the campaign.

The figures are set to reflect the giving potential of the highest donors and the total number of donors expected.

6. Prospect List

Once the gift pyramid is established, the names of prospects must be attached to each of the gifts. This is the task of the Steering Committee. Acting in complete secrecy, the committee compiles a list of prospects. Next to each prospect name is the amount projected, and the name of a person who will solicit the prospect.

If the prospect list cannot be filled with prospects to reach 50% of the goal, then the project must be reconsidered.

7. Interviews with Prospects

If there is the slightest uncertainty about prospect support for the project, a feasibility survey is required. An impartial consultant who is not directly involved with the organization is selected to conduct confidential interviews with key board members and donors. The interviews are about a half-hour in duration and are conducted at the interviewee’s convenience, in home or office.

8. Solicitation of Key Donors

The “Quiet Phase” is an initial private solicitation. It should begin only after certain conditions have been met, including if the project has been approved by the board of trustees and if the feasibility study is positive. During the Quiet Phase, it is expected that 50% of the goal will be reached.

9. The Public Phase

During the Public Phase, the solicitation effort is broadened to include anyone not directly involved with the organization, including charitable foundations, corporations, and government agencies.

10. Conclusion

A well-prepared organization need not be apprehensive about considering a capital campaign. If the appropriate incremental steps are taken, conditions can be assessed at every stage. If at any time conditions are considered unfavorable the campaign can be postponed. If conditions continue to be positive, the campaign can be allowed to progress to the public phase and then to a successful conclusion.

Thomas Hauck Communications Services provides writing and editing solutions for businesses and nonprofits. Visit us at http://www.thomashauck.net/ for information on how THCS can impact your bottom line.

Tags: Business, Economy, Gifts, Government, Guide, Money, Stock

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Better Not Be a Non Profit Business

Non Profit organizations are often criticized for not being run “like a business”. What that means is pretty murky but seems to imply that the Non Profit is wasteful and could do better by following general business practices. This assertion has always amused me. Especially now as we see so many For Profit businesses closing or being bought by others for a small percentage of their worth a few weeks ago. It seems as if being run “like a business” isn’t all it’s cracked up to be!

Non Profit organizations are often run by people who aren’t business majors. They are former teachers, social workers, ministers, etc. Their primary interest in the Non Profit organization is that of providing services. Often the organization was started by volunteers who have a strong interest in a specific social concern such as homelessness, eradication of a disease (breast cancer, heart disease), services to people who have experienced a disaster (Katrina, 9.11.01). Their expertise lies in the direction of providing these services. The lack of business management training among the staff may lead certain observers to criticize the way business is done. In fact a few problems may arise if the staff does not pay sufficient attention to the legal and accounting standards associated with Non Profit management. However, many times these skills can be found in the person of volunteers such as attorneys and accountants. By using volunteer expertise, the Non Profit saves their meager income for the provision of the service which is the core of the mission of the organization.

The advantages which a Non Profit organization has include that it has fewer expenses of doing business. Many Non Profits have free or low cost housing provided by a benefactor. Supplies are often available at lower cost than For Profit business and may be donated. Some staff may be volunteers including fund raisers, officers of the Board of Directors, a speakers bureau who make presentations on behalf of the Non-Profit, and the professional volunteers mentioned above. It is important to hire staff who have expertise in the service which constitutes the core mission of the Non Profit. This means that the quality of the service provided will be top notch. Many Non Profits have a group of dedicated volunteers who have helped the organization for many years. Without these volunteers the organizations would not survive.

It is uninformed to imply that the many Non Profit organizations which are run very competently by a small, dedicated staff and loving volunteers could improve if they adopted the business standards which are rampant today. Perhaps business should consider imitating Non Profits. Being dedicated to a service which is provided could transform many businesses.

When businesses saw their role in the community as very important - important enough to consider the effect of closing the business on the town where it was located, for example - they received more respect and may have been more stable. The employees and town folk are more likely to support such businesses. This same spirit could transform our communities and businesses where profits are the only motive leading to the demise of both.

Imagine the country economy today if the standards of Non-Profits were combined with those of For Profit businesses to the betterment of all!

Maggie Sadler, Retired Non Profit Manager, Teacher and wife of Presbyterian pastor. Worked over 40 years in Non Profit organizations. Recognized by United Way as a successful Non Profit Manager. Most recently Executive Director of a Foundation with net worth of $18 million.

Tags: Business, Economy

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How to Save a Ton of Money on Your Energy, Power, and Electricity Bill!

We all would like to save more energy each month. Sometimes we are just so busy with are lives that we tend to forget the little things that can save us hundreds of dollars on our energy and electricity bill. As energy rises up during different seasons like the summer and winder, it is important that we save this energy doing seasons like fall and spring. So here are some tips to help you do this!

1) Never run the heater or AC on when no one is home!

2) Always make sure all your air filters are clean!

3) Use the heater and AC only when in occupied rooms (Do this by closing room windows and doors)

4) Use florescent lighting which saves about 50% of your lighting energy bill!

5) Always shut off lights that you’re not using!

6) When buying new appliances, look for the energy star symbol as it is a good indicator of sufficiently saving energy compared to other appliances that don’t have that symbol!

7) If you can use ceiling fans instead of AC, do it! (it is equivalent to lowering the air temperature to a couple degrees)

8) Always close the refrigerator door! (a typical family spend about $10-$20 a year just by opening it 40-60 times per day).

9) Always turn off your computer when not in use! (this can save more than $100 per year)

10) Finally, shut off all other electrical equipment when your not using them!

Hope these ten tips can help you save the earth as well as help you save a ton on your money on your monthly bills! Good luck!

Tags: Dollar, Energy, Money, Tips

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This is Why Bush’s 700 Billion Dollars Bailout Plan Will Fail

Not long ago, the President stood before the American People to make his case for the massive bailout plan that Congress is now working to approve. With the sincerity and the passion that characterize him, President Bush made it clear that “this time is an extraordinary period for America’s economy”. He then went on to explain why he is urging Congress to support his plan to rescue Wall Street.

According to the President, his bailout plan represents the best we can do to solve the financial crisis and stop the mortgage meltdown.

In his plan, the Federal Government would take over bad assets from Wall Street since these assets cannot be bought or sold. They cannot be sold because they cost essentially more than what they are worth.

In other words, when banks issued loans to homeowners with their homes as collateral, they also converted these loans into financial products called mortgage-backed securities. These mortgage-backed securities were then sold to other financial institutions, therefore allowing banks to get the funds they need to issue more loans. As long as this cycle was repeated, the financial market was moving well.

Then, homes’ values started to go down.

When homes’ values go down, they make mortgage-backed securities become less attractive. This is because the collateral against these mortgages is now worth less than what banks want to borrow or sale the securities for. Here resides the key to the financial crisis.

The President’s plan is to buy those mortgage-backed securities to allow banks to have more money.

The theory behind this is that if banks have more money and less risky assets, they will be more willing to lend to credit-seekers.

The main limit with this approach is that while the bailout may in fact put more money in banks’ hands, homeowners will not see their problem solved. They will not be rescued.

Backers of the President’s plan forget that we are in this crisis because homeowners defaulted. They defaulted because they could no more afford payments. At the same time, they could not refinance their mortgage to get better deals because their home was worth far less than what they owed. This created the feeling of insecurity that is now dragging our economy down. And there is even more…

Supposing that after taking over these bad assets Government allows homeowners to make lower and affordable monthly payments; the economy will still face at least one serious challenge:

Assets removed from the market by Government will still be worth less than their face value. The same will be applied to most of the other assets not necessarily concerned by this bailout plan.

As a consequence, most of the mortgage-backed securities remaining on Wall Street will be, in a certain way, less attractive.

Investors will then continue to prefer non mortgage-backed securities since they not only present prospects of better revenues; but they also provide the security that investors want. Examples of options with prospects of good revenues and security are commodities like crude oil…

And when that happens, our economy will collapse dramatically. This is because the housing market is at the heart of America’s economy.

This is the reason why I think that the President’s plan to bailout Wall Street is a very risky plan that will only delay the collapse of our economy.

I believe that what this economy needs is a more efficient plan capable of solving this financial crisis at the root.

I propose a Program that will reduce homeowners’ debt to 80% of their homes’ market value.

How will this work?

On behalf of homeowners, Government will pay all amounts needed to reduce homeowners’ debt to 80% of homes’ market value.

These loans will be issued against promissory notes signed by homeowners.

Rescued homeowners will be required to make relatively low minimum monthly payments.

In addition to this, Government will be allowed to deduct a percentage of homeowners’ Federal and State tax refunds (if available) to help reduce loan balance. Agency in charge of this program will report accounts to credit bureaus on a monthly basis.

The destiny of America’s economy will be placed, once again, in the hands of those who are more able to make it work again: The American People.

Adopting this plan will do 3 things:

First, when Government pays back part of homeowners’ debt, Wall Street will eventually receive the funds that are so badly needed to continue fuelling our economy.

Second, homeowners’ debt will be reduced to 80% of their homes’ market value, therefore making them eligible, once again, to shop for better rates and affordable deals. Paying less for their homes will free some funds that can be used to purchase more goods.

Third, America’s housing market will be back on track, again. The market will be ready for new buyers and sellers, therefore sealing the revival of our economy.

However, this plan can only produce its best results if Congress complements it with a strong regulation that keeps the market under control. Otherwise, greed will once again destroy us.

Ben Modo is an Accountant, a Management Professional and a Financial Consultant. He has earned degrees in Business and Public Administration and he is the author of many published articles in economics and politics. Ben Modo was born in Cameroon and is married to Lydia. Together, they have two children, Stan and Dave Modo. Ben and his family live in the Washington metropolitan area.
Source

Tags: Children, Dollar, Economics, Economy, Fuel, Government, Mortgage, Oil, Security

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Forget Bailout - Here is My Plan

Anyone facing foreclosure knows that in most cases that they have been snookered. Funny how mortgage contracts will adjust for increasing payments, but none adjust down if the economy goes bad.

Now the government is going to give Wall Street a 700 Billion dollar bailout plan. Now this plan is suppose to help the homeowner. It does not address unemployment and loss of jobs, the adjusting of mortgage rates that are the root causes.

Let us think about this:

• Gas prices are higher than ever
• We spend billions of dollars per month in Iraq
• Unemployment is high
• Food Prices have increased
• Most homes have lost value leaving little to no equity
• Utilities such as gas and electric are higher
• Credit is scarce and refinance market is dead
• Average family income is down
• Bankruptcies are high

Who wins?

• Oil companies recording record profits
• Brokers, who have taken money from the stock and equity markets
• Retiring executives from most markets with golden parachutes
• Those who are operating the banks and brokerage firms

Those responsible will not suffer; the good old taxpayer is coming to the rescue. Okay, so we bail them out and have our government, buy the homes that have lost their value in many ways. Now the government will also have to absorb the cost in foreclosure. That is an additional expense.

Here is the major question, with banks and other institutions having dumped all their bad paper on the government, what is next? The answer to that is who knows.

Here is a solution, when you wean a baby off the bottle; you just take it away from the baby. That is what we have to do to the financial institutions. This has to be fixed in part by government but with a ground floor view.

If you want to help those homeowners and reverse the economy here is the plan

• A 6-month freeze on all foreclosures and those up coming for the next year
• A $ 10,000.00 grant to all unemployed homeowners that need to get back on their feet
• An audit on all mortgage companies that financed the sub-prime market
• Allow modification of mortgage contracts on all distressed property
• Allow 6 months for homeowners to get gainful employment (if they are unemployed)
• Invest 100 billion for new “green” energy jobs
• Invest 100 billion in full scholarships in community colleges for new high tech or “green” jobs
• Financial Institutions that hold vacated property will keep them
• Those pending foreclosures will be turned over to the government
• The government will then administrate the process of implementing the above points.
• The mortgagee when employed will modify their contract with the governmental agency.
• Let the private sector sell the vacated properties through auction or other means

This is what I call trickle up economics. The intention is to assist those who are facing financial distress in most cases this will allow the homeowner to pay off their real estate taxes, allow them to find gainful employment. They will also buy food, pay utility bills, and help offset the price of gas. It is a terrible thing when you must commute 20 to 30 miles and do not have any money for gas. You must go to where the jobs are.

There are three types of people affected here, the employed, the unemployed and the multiple dwelling homeowners. The employed would need a modified contract. The unemployed would need a moratorium and financial aid if not eligible for unemployment. Then there are those who have multiple dwelling units which the economy does not directly effect their primary residence.

Implementation can be administered by HUD, the first action that needs to be taken is an instant moratorium on all forecloses and real estate tax liens.

• Set Up Special Temporary Branch under HUD to implement program
• HUD takes all the recorded default notices
• This program will be voluntary to homeowners
• Residents affected will contact a 1-800 number for the financial grant
• HUD will verify the information given
• Homeowner will fill out application and send to HUD via internet, fax or mail.
• HUD will release half of the $ 10,000.00 grant and in 30 days release the other half.
• If Homeowner is collecting unemployment benefits HUD will reduce the scheduled unemployment benefit amount from the HUD payments for the 6 month period
• Homeowner has 6 months to find gainful employment.
• Within the 4 month period Homeowner will contact HUD for mortgage contract modification
• Homeowners who are employed will contact HUD for assistance in mortgage modification
• When mortgage modification is approved by HUD then the Homeowner will start making payments to the mortgage holder of record.

Mortgage holders are not bailed out, but will be allowed have the distressed properties temporarily moved off their balance sheets into a holding company account. This will relieve their balance sheet on a temporary basis, which will allow them to qualify for appropriate credit. They will report to the SEC (if a public company) and HUD the information on the holding company, with complete details. No other transactions other than that of distressed real estate are to be post to this holding company.

When a homeowner starts to make payments on the modified mortgage contract the mortgage holder will transfer from the holding account the original value back to the mortgage holder’s original balance sheet.

In this way everybody wins, the mortgage holder, the homeowner and the government. This plan will result in more jobs; mortgage holders’ credit restored and distressed properties relieved. Of course, there are more details to work out but overall I believe my plan can be implemented in very little time.

John Tebar Certified Life Coach, Author and Entrepreneur sign up for weekly Ezine at http://holisticlifeplanningandresearch.com

Tags: Dollar, Economics, Economy, Energy, Food, Gas, Government, Job, Money, Mortgage, Oil, Price, Stock

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