Jackson’s Neverland Ranch Auction Canceled

The foreclosure auction for Michael Jackson’s Nerverland Ranch that was scheduled for this week was canceled after an investment company called Colony Capital LLC. bought the loan. Jackson hasn’t lived on the property for the past two years and is happy at the way things turned out. He recently had to go into default on the $24.5 million that he owes on the property and has struggled to pay his debts after his decline in finances after his arrest in 2003 on child molestation charges where he was later acquitted.

Lend and Borrow Money Online

There are now “peer-to-peer” lending websites that allow people to borrow money at competitive rates from lenders online. There is the site prosper.com, which allows the market to decide who gets funded. The site lendingclub.com is for borrowers with a FICO score above 640 and has a debt-to-income ratio below 30 percent. The site virginmoney.com manages loans between friends and family members. The site zopa.com works with credit union members.

The consequences of defaulting on a peer-to-peer loan are the same as a loan from a bank. Defaulting on a loan can have a negative effect on the borrower’s credit history.

Coors and Miller Brewing Companies Join Forces Against Busch

Coors and Miller brewing companies plan to combine their operations to compete against Anheuser-Busch. The new name will be MillerCoors. Right now their biggest competitor is Anheuser-Busch.

The change will save the two companies about $500 million dollars and will come from reducing the shipping distances, finding economies of scale in brewing operations, optimizing production, and getting rid of duplicate corporate and marketing services. They expect the company to have annual beer sales of about $6.6 billion dollars. With the money that they save they plan to invest more to market their products and be able to compete better and more efficiently.

Mike Vick Get a Visit from the Repo Man

An Indiana bank recently sued Mike Vick for not repaying his loans that involved a car rental business. Vick is the chief financial officer of Divine Seven, a car rental company, and bought more than 130 cars through the loans. The bank says it suffered damages of about $2 million dollars because Vick and Divine Seven LLC wouldn’t pay for the vehicles. The bank has repossessed most of the cars.

Last week, Royal Bank of Canada sued Vick for $2.3 million dollars that he claimed he was going to use for real estate investments.

How to Invest Wisely

It takes a lot of skill to invest wisely. With the right information, knowledge, and strategy, you can turn pennies into lots of dollars. Here are some tips so that you can invest your money well.

First, you should find some information on how investing works. It is a good idea to go to the library and find books on investing. You can also visit sites, such as smartmoney.com and cnnmoney.com to find information.

When you decide where you want to invest, spread out your money by investing in more than one company or place. By doing this you can decrease your risk of a loss. It is a good idea to invest in companies of different sizes and industries. You can also invest in international markets.

You can hire a financial adviser to help you. You should find out if the adviser works on a commission or a fee basis and if they are affiliated with a mutual fund or bank. You can check an adviser’s credentials at cfp.net or napfa.org.

You should watch out for any type of fees associated with your investment. Mutual funds and stocks have operating fess. Be aware of high and low fees and types of investments that charge commissions. The less fees and commissions you pay the more profit you can make.

Now that you have learned about investments and fess, you should allow time for your money to grow before you thing about making any changes or adjustments. Investing is not a get rich quick scheme. It takes time, knowledge, and strategy. With the right elements, you can go very far with investing.