Saturday, August 25, 2012

Senators Press for Tax Relief on Principal Reductions, Short Sales ...

Senators Press for Tax Relief on Principal Reductions, Short Sales
By Jon Prior, HousingWire

A group of senators are pressing Majority Leader Harry Reid, D-Nev., to allow a vote on a package of tax relief extensions set to expire this year, including one involving mortgage principal forgiven in loan modification or short sale.

Homeowners who receive a principal reduction or a short sale next year will be required to pay taxes on the debt forgiven if Congress does not extend the Mortgage Debt Relief Act of 2007. The law expires Dec. 31. Up to $2 million of reduced debt can be excluded from taxable income under an extender package to be introduced in the Senate early next week.

The Senate Finance Committee passed the Family and Business Tax Cut Certainty Act, which would extend the tax relief through 2013, by a 19-5 bipartisan vote earlier in the month. (Read a summary of the bill here).

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Read more at Senators press for tax relief on principal reductions, short sales.

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Source: http://www.homerescueplans.com/2012/08/25/senators-press-for-tax-relief-on-principal-reductions-short-sales/

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Source: http://twitter.com/pulse2dotcom/statuses/239193724133974016

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Oil slips below $115, set for fourth weekly gain

LONDON (Reuters) - Oil fell below $115 a barrel on Friday as signs of weakness in the global economy weighed on the demand outlook, although a host of supply-side concerns kept losses in check.

Crude was still heading for a fourth weekly gain because of lower exports from Iran, a drop in North Sea supply due to oilfield maintenance and the risk of weather-related disruption to Gulf of Mexico output.

Brent crude was down 38 cents at $114.63 a barrel by 0838 GMT, up about 0.8 percent on the week. U.S. crude eased 58 cents to $95.69.

"It's no secret that the global economy is in bad shape," said Tony Nunan, a risk manager at Mitsubishi Corp in Tokyo.

"Europe's a mess, the U.S. is struggling and China, which was seen as a growth engine, is also sputtering - all of which points to weak demand for crude."

European equities were lower in early trade on Friday, weighed by concern about the euro zone debt crisis. Reports on Thursday showed China's factory sector contracted in August and a rise in new U.S. jobless claims.

Fading expectations of strong monetary stimulus from the U.S. Federal Reserve have also weighed on prices.

Iran and the fighting in Syria remain a focus for the market. Iran is holding talks on Friday with the U.N. nuclear watchdog about the Islamic state's atomic activities.

Iranian oil exports have plunged due to Western sanctions over the country's nuclear programme, and diplomatic sources said on Thursday Iran had installed many more uranium enrichment machines in an underground bunker.

Oil traders are also keeping an eye on two tropical storms in the Atlantic, Isaac and Joyce, for any risk they may threaten U.S. energy supplies in the Gulf of Mexico.

Joyce has weakened to a depression, but analysts at Weather Insight, a Thomson Reuters company, gave Isaac a 50 percent chance of moving into the heart of the oil and gas producing region.

(Reporting by Alex Lawler, and Ramya Venugopal and Wang Tao in Singapore; Editing by Alison Birrane)

Source: http://news.yahoo.com/brent-slips-below-115-economic-gloom-worsens-033908079--finance.html

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Friday, August 24, 2012

Thought for the Day (talking-points-memo)

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New AIDS-like disease in Asians, not contagious

Researchers have identified a mysterious new disease that has left scores of people in Asia and some in the United States with AIDS-like symptoms even though they are not infected with HIV.

The patients' immune systems become damaged, leaving them unable to fend off germs as healthy people do. What triggers this isn't known, but the disease does not seem to be contagious.

This is another kind of acquired immune deficiency that is not inherited and occurs in adults, but doesn't spread the way AIDS does through a virus, said Dr. Sarah Browne, a scientist at the National Institute of Allergy and Infectious Diseases.

She helped lead the study with researchers in Thailand and Taiwan where most of the cases have been found since 2004. Their report is in Thursday's New England Journal of Medicine.

"This is absolutely fascinating. I've seen probably at least three patients in the last 10 years or so" who might have had this, said Dr. Dennis Maki, an infectious disease specialist at the University of Wisconsin in Madison.

It's still possible that an infection of some sort could trigger the disease, even though the disease itself doesn't seem to spread person-to-person, he said.

The disease develops around age 50 on average but does not run in families, which makes it unlikely that a single gene is responsible, Browne said. Some patients have died of overwhelming infections, including some Asians now living in the U.S., although Browne could not estimate how many.

Kim Nguyen, 62, a seamstress from Vietnam who has lived in Tennessee since 1975, was gravely ill when she sought help for a persistent fever, infections throughout her bones and other bizarre symptoms in 2009. She had been sick off and on for several years and had visited Vietnam in 1995 and again in early 2009.

"She was wasting away from this systemic infection" that at first seemed like tuberculosis but wasn't, said Dr. Carlton Hays Jr., a family physician at the Jackson Clinic in Jackson, Tenn. "She's a small woman to begin with, but when I first saw her, her weight was 91 pounds, and she lost down to 69 pounds."

Nguyen (pronounced "when") was referred to specialists at the National Institutes of Health who had been tracking similar cases. She spent nearly a year at an NIH hospital in Bethesda, Md., and is there now for monitoring and further treatment.

"I feel great now," she said Wednesday. But when she was sick, "I felt dizzy, headaches, almost fell down," she said. "I could not eat anything."

AIDS is a specific disease, and it stands for acquired immune deficiency syndrome. That means the immune system becomes impaired during someone's lifetime, rather than from inherited gene defects like the "bubble babies" who are born unable to fight off germs.

The virus that causes AIDS ? HIV ? destroys T-cells, key soldiers of the immune system that fight germs. The new disease doesn't affect those cells, but causes a different kind of damage. Browne's study of more than 200 people in Taiwan and Thailand found that most of those with the disease make substances called autoantibodies that block interferon-gamma, a chemical signal that helps the body clear infections.

Blocking that signal leaves people like those with AIDS ? vulnerable to viruses, fungal infections and parasites, but especially micobacteria, a group of germs similar to tuberculosis that can cause severe lung damage. Researchers are calling this new disease an "adult-onset" immunodeficiency syndrome because it develops later in life and they don't know why or how.

"Fundamentally, we do not know what's causing them to make these antibodies," Browne said.

Antibiotics aren't always effective, so doctors have tried a variety of other approaches, including a cancer drug that helps suppress production of antibodies. The disease quiets in some patients once the infections are tamed, but the faulty immune system is likely a chronic condition, researchers believe.

The fact that nearly all the patients so far have been Asian or Asian-born people living elsewhere suggests that genetic factors and something in the environment such as an infection may trigger the disease, researchers conclude.

The first cases turned up in 2004 and Browne's study enrolled about 100 people in six months.

"We know there are many others out there," including many cases mistaken as tuberculosis in some countries, she said.

___

Follow Marilynn Marchione at http://twitter.com/MMarchioneAP

Source: http://news.yahoo.com/aids-disease-asians-not-contagious-211424263.html

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Thursday, August 23, 2012

Men's lacrosse training camp update - Athletics & Recreation

Men's lacrosse training camp update

The Wilfrid Laurier men's field lacrosse team has begun training camp earlier this month under new Head Coach Glenn Stevenson.

The team has started camp three weeks earlier this year to prepare for a season that will see a new look to the West Division with the University of Toronto moving from the East. This jump start has been brought about by Head Coach Glenn Stevenson and Team President Garrett Clifford who feel that a change in culture is needed to get the team at the level of competition that it needs to be.

With an impressive showing of fresh blood to boost a veteran laden team, the expectation for success is high. President Clifford notes that the intensity in camp is palpable as the rookies are vying for a spot and its really making the vets take nothing for granted. Everyone is looking to earn their spot in the 24 man roster with the final four camp dates on August 26th -27th and September 1st -2nd. Time is winding down with the season start about a month away.

Anyone who wishes to try out should get in contact with President Clifford at menslacrosseclub@laurierathletics.com.?

Source: http://www.laurierathletics.com/createarticle.php?ID=6060

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Multi-tenant retail sale is positive sign - Colorado Springs Business ...

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Patrick Kerscher, a principal broker with Landmark Commercial Real Estate, closed a rare deal earlier this week when he sold a multi-tenant retail building at Research and Union boulevards.

The 10,700-square-foot space sold for $2.45 million.

That was a fair price for seller and buyer, said Tucker Manion, a broker with Centre Point Properties in Denver who represented the buyer.

The buyer sold a multi-tenant property in west Denver and needed to reinvest in another property to avoid capital gains taxes. Manion said there is limited inventory of healthy mukti-tenant retail space in Denver.

?What was important for us was finding a grocery-anchored neighborhood center,? Manion said.

And they didn?t find what they were looking for up north and began looking down the Front Range, he said.

?This is a big check in the optimism column,? Kerscher said.

The market for multi-tenant retail has been nonexistent through the recession, he said. Most of the deals he?s brokers have been single-tenant spaces, especially with tenants like dollar stores and value menu restaurants.

?For someone to actually buy a multi-tenant building means there?s some confidence returning to the market,? Kerscher said. ?Hopefully we?ll see a lot more of this.?

There?s a lot of institutional money that has been sitting idle while Real Estate Investment Trust managers and other major players have been afraid to dive into the market. A sale like this one suggests to Kerscher that it?s only a matter of time before that money starts moving again. And, he said, he?s hopeful some of it will land in Colorado Springs.

?This woman picked this deal out of all the deals in the state,? he said.

Manion said multi-tenant retail spaces have been selling in Denver and the market there is picking up momentum.

Source: http://csbj.com/2012/08/23/multi-tenant-retail-sale-is-positive-sign/

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