I'm sure you have been following the implosion of the U.S. banking industry. I have been trying to avoid all the news but, I'll have to admit, it is quite difficult to dodge at this point.
First, the plunge of the housing market touching off the mortgage crisis. The mortgage crisis has made the banks sink. In the last few weeks it has been one financial institution after another, then last week one of my favorite banks, Washington Mutual, put itself up for auction and was purchased by JP Morgan. I just hope that Washington Mutual under the wings of JP Morgan will keep its corny, yet intimate, personality. I guess I am just happy that they have survived!
Now, I awake this morning to the news that there has been a Wachovia buyout. Apparently CitiGroup has bailed Wachovia out and will acquire all its banking assets and will take on $42 billion in debt with the FDIC covering any additional losses. As details of the Wachovia takeover surfaced, the stock dropped from a close of $10 per share on Friday to $0.94 today, or a 90% drop in stock price.
I have to say that I try hard to not follow finances or the markets, although some times I cannot help myself and this is one of those times. I know that the government is all over this and I hope for announcement of a solid bailout plan soon so we can all get back to business as usual.
Happy Monday!
We have been dealing with a frustrating insurance situation lately that is forcing us to reevaluate all of our insurance needs, including auto insurance. Here's the low down.
We had some building damage to our structure, enough that caused us to notify our insurance company. The carrier sent the adjuster out to our place and he was genuinely nice. He requested that we submit quotes for repair as well as the actual bills as we received them and he would pay us as we completed the various repairs. Now, what we had was water damage so there were several layers to the repair, including taking out wet carpeting and flooring, drying everything out, then starting the replacement process. Well, we are now done with the process and have not yet seen one check! The adjuster keeps explaining that he has not received any of the various copies of each bill that we submitted, it has been a frustrating process. So frustrating, in fact, that we have started looking for and pricing new insurance, not just for our property but for everything, including looking for the best pricing for our auto insurance coverage.
As I was starting the process to change insurance I came across this site that allows you to easily compare insurance pricing, it is quick and easy. I completed the entire process in minutes and received a quote in my inbox instantaneously. Now, that is no fuss, no muss service!
So, as we continue to wait for a response from our current carrier, I will forge on pursuing a new carrier.
I have been enjoying myself, my children, my husband, and my time off from work over the last week or so and in doing so I neglected my blogs. I'm not sure how that snuck away from me but it did! However, I am back now and will resume my regular posting, so look for me starting tomorrow.
Apparently someone thought it was a good idea to check on the track switching in the middle of the morning rush hour. Of course, the tracks switched but no one could switch them back. And the racks are located on a main artery of the commute. They ended up having to force the tracks back into alignment and then bolting them in place. What a disaster!
Meanwhile, the train I boarded was re-routed from a destination of downtown to a destination of a suburb the complete opposite of the direction I came from. Then re-routed again, then again before I finally disembarked with the umpteen thousand others to try and get on the right train. The problem: no one, not even the train attendants, knew which trains were going where. All the while the platforms were filling with potential passengers with no trains to board.
I finally boarded a train that announced it was going downtown and once boarded with the others packed in like sardines the train attendant announces that she *thinks* we are going downtown but after several stops she will let us know for sure. Well, as it turns out, we did end up downtown without having to transfer to another train, again. And three hours later I arrive at work just in time to jump onto my first conference call of the day.
These kinds of commutes make me wonder why I commute...









