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Business news updates are extremely important and serve as a handy tool that keeps interested persons updated with the latest happenings in the business world at almost every given second. Of course, the significance of staying updated with the latest happenings in the world of finance is something that nobody can deny. However, thanks to the country’s pro-active media domain, there has been a flood of channels, Online channels, and daily magazines which primarily look to satisfy the appetite of the news-hungry people almost every second.

Channels like IBN7, CNBC Awaz and IBN Lokmat news channel are leading the league of those media bodies which are competing in this rat race to provide the audience with the best and the latest business news.

Speaking honestly, IBN Lokmat is one of the channel that has been leading this race from quite some time. Needless to say, the quality of news made live by this channel is above excellent. Owing to its sky-rocketing popularity, the channel has now ventured into the virtual world territory where it has added an extra tinge of dynamism to its over-all outlook.

IBN Lokmat is backed by an excellent team of dedicated professionals who slog-out day and night to simplify the very complex term ‘finance’ for their audience. That’s not all, people who can’t afford to spent a significant part of their time in front of the idiot boxes owing to their responsibilities both professional and personal, can now watch it from their workplace without letting the viewing alter their professional schedule and hindering their work pace. Moreover, it only value-adds to their work methodology and educates them the entire 360 about the business world.

Be it about stock market, banking world or plain news updates, Lokmat news channel is something that people can bank upon at any point of time. What more, the quality of news is authentic, be it On-TV or Online (where quotient of unpredictability increases manifold) thus, making it extremely dependable.

The Online platform of Lokmat news frequently invites experts and analysts well-versed with the given situation who in turn hand-out potent solutions to the audience. This help them cope with the present situation in an extremely easy way and cash on to these easy situations.

Finance has already been a trouble-maker for the laymen but with the inception of Lokmat news in the news portal scene, people have started to believe that there actually exists a portal that broadcasts news of substance and that too in the due time.

What more several finance portals provide the live streaming of channels like these, thus, making sure that viewers do watch them but at their own convenience. This streaming is a kind of deferred live signal that is received by viewers through the means of Internet. Quality-wise, the picture clarity is crystal-clear while the sound and other viewing aspects are also on place thus, making the Lokmat news viewing, a truly mesmerising experience on Internet.

By: Addi Vardhaman

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Will the new FHASecure Initiative save all the borrowers with subprime mortgages facing foreclosure? The crystal ball is a little murky on this issue. First, many of the subprime mortgages at issue have loan amounts far above the FHA mortgage limits. Legislation is under consideration that would raise those limits, but nothing is in place yet to do so. Second, many of the high loan to value subprime adjustable rate mortgages issued over the last few years were those referred to as “80/20′s”. This means a combination of a first mortgage for 80 percent of the sales price or home value and a second mortgage for the remaining 20 percent. The second mortgage was most often a fixed rate mortgage with a balloon payment at 15 or 20 years.

The HUD Mortgagee Letter announcing the FHASecure program states:

“If the new maximum FHA loan is not enough to pay off the existing first lien, closing costs and arrearages, the lender may execute a second lien at closing to pay the difference. The combined amount of the FHASecure first mortgage and any subordinate lien may exceed the applicable FHA loan to value ratio and geographical maximum mortgage amount.”

As is usual with HUD this is left open to interpretation. Of course for quite some time it has been allowable under the standard FHA guidelines to have a second mortgage resubordinated (i.e. kept in place still secondary to the new first mortgage) even if the second mortgage is above 100% of the value of the home. This has been useful when the borrower has two mortgages, however there has been a foolhardy lack of cooperation by the second mortgage holders. They often refuse to resubordinate, with the result being a default on both mortgages. The second mortgage holder definitely ends up on the short end of the stick then.

With FHASecure, my bet is that bigger lenders who also do FHA lending will refinance their own subprime loans and hold back second mortgages for the balance due – if only to avoid a default on their own books. However, there are a lot of subprime mortgage note holders who do not offer FHA loans, or are even out of business. It will be really interesting to see how these lenders interact with other lenders and brokers trying to refinance these loans.

Another major influencing factor is that many of the homeowners who might use FHASecure have other credit problems which disqualify them from the program. In order to qualify for FHASecure, a borrower must have perfect credit for the six months prior to refinancing. There are many borrowers who don’t fit this profile.

It remains to be seen how useful the FHASecure program will be. It will definitely save some borrowers, but it may not be enough to save those most in need of help.

By: Carl Pruitt

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Each year, the IRS comes up with new rules and regulations to make people meet their tax obligations such as penalties and tax debts that give people sleepless nights. But you can escape the grind by getting in touch with a tax professional and by applying your tax knowledge when filing your returns.

If you are facing IRS issues, you are not alone; there are thousands of people across the country who have to contend with IRS trouble. There are scores of people who find it difficult to pay their taxes on time. Unfortunately, the IRS goes after all non payers but they seldom tell you about your tax payer rights. Very often it is not the tax payers fault at all but an error on the part of the IRS that leads to the mayhem, but as usual it’s the tax payer who has to suffer the brunt of such an error.

The two things that you are going to need when battling the IRS are persistence and patience. There are several resources available for people who facing IRS problems however you will need to know about your rights and the various options available for you to choose the best course of action.

Many people cannot meet their tax obligations due to financial issues, if you haven’t been able to pay your taxes for a year or more because of financial adversities, all you will need to do is file for an extension through the use of Form 4868, however, you will need proof of the fact that you were unable to pay taxes because of financial difficulties.

When people do not pay their taxes they have to deal with harsh collection tactics, large penalties and swelling interest payments. If you are facing a financial crisis, just filing for an extension may not be enough because if you cannot make ends meet, paying your tax dues will be out of the question for you. You may need to lower the burden by requesting an installment through the use of Form 9465. If you are granted an installment, which should not be too difficult, you will have the liberty to pay your tax dues each month at a rate that is feasible for you, also such a move will prevent the IRS from seizing your assets, garnishing your wages, bank accounts etc.

Penalties are another common tax issue that people have to face in case of missed or late tax payments. Don’t underestimate the IRS’s capacity to penalize you, there are well over 140 penalties that the IRS can levy at will and even if you have already cleared your taxes, you may still have to pay these penalties. The amount of these punitive measures can be quite high and can go to the tune of 10% to 100% of the tax dues. Other common issues that people face are: late filing of tax returns, late payment and filing erroneous tax returns; and all of these can result in penalties. However, there are also multitudes of ways to escape these penalties.

But, you may have to enlist the help of a tax attorney or an accountant to deal with IRS tax issues or you could also seek advice from an ex-IRS employee. Because tax laws are too complicated and too many, it may be best to use the services of a specialist if you find yourself in a lurch. Ideally, you should go for a tax professional who has a good success rate and who has ample of experience in handling cases that involved the same types of penalties that have been levied on you and.

Get on touch with a Dallas tax attorney if you intend to ask for penalty abatement for issues such as late tax payments or late filing and or error in reporting the income. If you have proof of a documented situation like a hospitalization, death of a loves one or a natural calamity; these can act as valid excuses.

By: Seomul Evans

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A great business plan is the best way to start a business. It prepares the entrepreneur for the many obstacles and avenues that may come up and be utilised. A great business plan will pave the way for funding my means of bank loans and investors and will outline everything from the business name to promotional marketing, market share to the sales strategy. A great business plan is like having your own personal guidebook to success, expanding on the avenues for growth and highlighting ways to avoid failure.

To ensure your business plan is effective, take these tips on how to tailor this useful document to your individual needs.

1) The Industry

When you start out on this important document, you should begin with outlining the industry that you plan to run your business in.

Define what the company will do. If it’s a shop, what will it sell and how is it relevant to the industry? If it’s a service, then how will your service benefit the industry?

Have a clear idea of exactly what products or services you plan to sell. If you want to open a shop, then find out why your stock will sell well, how it fills a gap in the industry or why it is unique? If it’s a service, then ensure you understand every aspect of the service and what education or training it might require.

2) The Market

In your new business venture, who will your customer be?

Do your research to discover the details of the demographic you plan to sell to. Knowing your customer means you can tailor your business to service them effectively and market your product or service to their needs.

DO you know the scope and size of your target market? Is it a mass market or a niche market? Are there trends in the market and if so what are they? How will you capitalise on these trends?

Who is the competition? What other brands, products or services are out there competing for the attention of your target market? What do you expect your share of this market is? How will you capture this share of the market?

What marketing and strategies will you employ to capture your share of the market?

3) Operation

This is the nitty gritty part of the plan now. Where are you planning on locating your business and why? What facilities will you need and can you afford?

What will your staffing requirements be? What will your sales strategy be?

This part is where you define exactly you might need to achieve your business plan.

4) Management

If your business will require staff, then you will need to put a management plan into place. A management plan will define the organisation in terms of the hierarchy of the employees; who is the boss, and who reports to whom?

Will your business require a company strategy of owners, shareholders, directors and committees? IF so how will you decide on these roles and who will you choose?

What benefits, incentives and rewards will you employ to get the most out of your staff in terms of productivity and loyalty?

5) Finance

Here is the fulcrum that you plan rests on. This part of the plan will outline how you plan to source funds for start up, how to generate income and how to manage cash flow.

Will your income be steady all year round or will you have periods of high and low financial activity?

Will you have enough income to employ promotional marketing strategies and if so, what will the budget be?

By: Isaac Nicholson

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All attendees of “Project Management… by the Numbers” know that every project is a project within another project(!). In other words, every project we manage is a part of another bigger project. So, what is the difference between a business process and a project management process?

Let’s begin the answer with an example…

The CEO of the organization believes the project is to bring a new product to market. Let us call the product the Wireless Internet Waffle Iron (WiWi).

The CEO knows he/she has a process to get the WiWi though his company. This includes identifying the best possible WiWi and all the way to sustaining the WiWi when it is sold to the consumer.

The company has a published plan based on stages for this process (for example; Stage 1 – Ideation, Stage 2 – Assessment, Stage 3 – Feasibility, Stage 4 – Development, Stage 5 – Commercialization, Stage 6 – Sustainment), in order to get the WiWi from one stage to another.

Most often, the process progresses by passing the responsibility of the project from one group to the next along the way of each stage. It does make sense that Engineering manages the conceptual work and Marketing manages the marketing.

Because of this process, the CEO passes the project to his direct reports with confidence that the project can now be managed on time, on budget and that the Wireless Internet Waffle Iron will be exactly as envisioned.

Working with my clients, I have identified this scenario hundreds times over the years and it is easy to recognize this as a “business process” as this is how the business (company) views the work as a project.

Now, back to our scenario…

The WiWi project is running behind schedule because the assessment stage took longer than planned and the project is running over budget because the feasibility stage was not properly analyzed up front. Now you (the next project manager in line) have been assigned the development stage and are expected to bring the project back on time and schedule as well as manage all the work the development stage requires.

All this time the CEO continues to have confidence in his people and processes that the WiWi project will be on time, cost and objectives. You are backed in the corner with this (can’t let the CEO down) and have to cut corners as they did during the feasibility stage.

After some major frustration, a few all-nighters and some creative reporting, you breathe a sigh of relief and can pass the project with all of its problems to the next group in the process line. Unfortunately, the WiWi is still over budget and running even later.

What we have described above is a classic business process that is mistaken for a project management process. The difference is that the business process sees the product as the project, not the stages or even the tasks as individual projects.

Business processes are absolutely necessary for management to plan and work from, but if we view each stage and task as a project, and the leader of each stage and the doer of each task as a project manager, then we will have an accountability chain within the project. Back to our scenario… but this time as a Project Management Process.

The Four Phases of a Project Management Process…

Phase One – Concept/Feasibility

The WiWi has been dropped into the business process by the CEO. The person that is leading the Ideation Stage must consider this stage a project within itself, and themselves as the Project Manager.

Ideation is a part of the WiWi project, but has its own separate time, cost and objectives. These must be defined and agreed to by the Ideation Phase Project Manager and a Project Customer (maybe the Project Customer has to be the CEO!).

Before agreement can happen, the Ideation Stage Project Manager has to be convinced his/her part of the WiWi Project can be accomplished within the time, cost and objective constraints given. In order to determine the true TCO vs. the goal TCO, each member of the Ideation Project Team must view their tasks as projects with themselves as the Task Project Manager and the Ideation Stage Project Manager as their Project Customer. Each person then follows the same project management process to gain agreement that their tasks can be accomplished to the individual time cost and objective constraints given.

When the entire team agrees all tasks can be done based on individual concept/feasibility studies, agreement can be reached or negotiated between the Ideation Stage Project Manager and the WiWi Project Manager.

Wahoo – Phase 1 done!

Phase Two – Organization/Schedule

The Ideation Stage Project Manager now has agreement at a high level to TCO of the Ideation Stage, so it is time now to do detailed planning and scheduling of the Ideation Stage Project of the WiWi Project.

After reconfirming tasks and team members schedules, a critical path analysis is completed by the Ideation Phase Project Manager (including detailed costs) and run by the Ideation Phase Project Customer for another agreement and:

Phase Three – Execution

Double Wahoo – It’s time to actually do all the Ideation Stage tasks.

The Ideation Stage Project Manager manages the critical path tasks, people and budget, and in turn delivers the Ideation Stage Project to the Project Customer.

The Ideation Stage is almost complete (not quite, but almost) because:

Phase Four – Review/Audit

Now it is time to review the project management during the Ideation Stage Project. Did we do enough concept/feasibility? Did the team members follow-through on their promises? How can we improve the project management process? Etc.

Your part of the WiWi Project, the Ideation Stage Project, has been successfully managed by using a project management process. I think a party is now in order, don’t you?

So, back to our original question: What is the Difference between a Business Process and a Project Management Process?

The answer: The difference is that the business process sees the product as the project, not the stages or even the tasks as individual projects.

We as everyday project managers are responsible for the successful completion of the time, cost and objectives of our piece of the Wireless Internet Waffle Iron Project, not the whole thing.

If you are the CEO (or the CEO’s designated authority) and want the WiWi on time, on cost and on objectives, then consider each stage within the business process a project and allow the project management process to work.

But for now, back to us, the Project Managers. When you get your assignment, whether it is a stage or a task, ask who your Project Customer is and stick to the four project management phases of your specific work.

Phase One – Concept/Feasibility (What is it?)
Phase Two – Organization/Schedule (How to do it?)
Phase Three – Execution (Doing it!)
Phase Four – Review/Audit. (How did we do?)

Now THAT’S a project management process!

By: Mark L. Reed

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So you are looking for the right mortgage debt consolidation loan company for you? With the thousands of mortgage debt consolidation companies available today, finding the right one can be a daunting task.

In fact, a quick Google search will literally provide millions of results in your search. So how can you find the right company for you? Here are some tips to help you quickly find the right company for you and help you eliminate your debt.

First of all, before you go about finding the right mortgage debt consolidation loan company, you need to know why you want a debt consolidation mortgage loan. Here are some important reasons why this might be a good option for you. First of all, you will pay a lower interest rate than you oftentimes would with a high APR credit card.

Another important thing is that a mortgage debt consolidation company will help you stay out of debt permanently. Quite simply, when you only have one payment to pay off instead of multiple, this will make it much simpler to keep track of your debts.

So where can you start to look for the best mortgage debt consolidation company for you? As is anything today, there is an abundance of information on the Internet, you can find just about anything you want to. Literally thousands of mortgage debt consolidation firms are available the click of a button, making finding the right one a rather daunting task.

The key is to narrow it down to certain companies that will work for your specific situation; not every company will do this. Once you narrow down your search, simply give those companies a call and evaluate their customer service while doing so. Of course, the interest rates that they provide you will be a big factor in your choice as well; whichever company offers the lowest interest rate should be a great starting point, although they are not necessarily the best.

Finally, check with any friends or family members you know who’ve already used a mortgage debt consolidation loan company, and find out how their experience was. Follow these important steps and you’ll achieve the debt consolidation you need quickly and easily.

By: Josh Neumann

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