Best Deals: What to But in June -- Once summer winds down, you might begin to think about items you'll buy to spruce up your fall and winter wardrobe. But June is a good time to take advantage of sales on summer clothing. And if you need a new set of tools, don't hesitate to make a purchase. The Father's Day holiday prompts some stores to advertise sales on tools.
Keep Debt Collectors Off Your Facebook Page -- Some debt collectors are using Facebook to track down debtors. The practice has become so common that is has gotten the Federal Trade Commission's attention. The FTC is still deciding if this practice violates any laws. Until then, here are steps you can take to prevent a collector from contacting you this way.
1. Only let friends see your information: Remove all "friends of friends" options. Also, only let friends see your contact information.
2. Don't accept friend requests from people you don't know: Sometimes a debt collector will use a fake name to hide his or her identity. If you know the person making the request, ignore it.
3. Remove yourself from Facebook searches: Deactivating the option that allows everyone to search for your profile prevents it from appearing in an internet search.
4. Tell the collector to Stop: If collectors are questioning your friends and family, write a letter telling them to stop all contact.
Money In The Bank -- Raymond Stewart, founder and chief investment officer of RASARA Strategies, picks three banking stocks destined to lead the sector's resurgence.
1. New York Community Bancorp (NYB) is a bank holding company that operates more than 240 branches in New York, New Jersey, Ohio, Florida and Arizona. It also holds a commercial bank that operates in the New York metropolitan area. The $7.5 billion market cap bank has run a solid ship during the financial crisis and after. Stewart notes that NYB managed to maintain its dividend throughout the entire crisis, when many banks were cutting theirs altogether. "They're considered one of the darlings of income-based mutual funds because of their solid yield," Stewart points out. He says NYB is compelling not only for a generous 6% yield, but also for the solid credit quality of its loan portfolio--factors he feels could push the stock to about $20 a share in the next 12 to 18 months. Ticker: NYB Price: $16 P/E: 13.40
2. U.S. Bancorp (USB) is a Minneapolis-based national financial institution that engages variously in credit card services, merchant and ATM processing, mortgage banking, insurance, brokerage, and leasing throughout the U.S. The company has a $50 billion market capitalization. Stewart like's the bank's recent decision to pay 50 cents per share dividend and it plans for a 50 million share buyback. These tailwinds could push a 15% appreciation in USB's mid-$20s stock price over the next 12 to 18 months. He says USB may also be on the lookout for acquisitions in the near future; rumors have circulated that the bank might be eyeing Royal Bank of Canada's operations in the Southeast, for example. Ticker: USB Price: $26 P/E 13.29
3. Intervest Bancshares (IBCA) the New York City-based commerical and consumer banking service corporation, is a somewhat more speculative play - but one with a large potential upside. The money manager says an $8.80 book value per share is a far cry from the bank's stock price. That's reason enough for a potential climb to $4 to $5 a share in the next 12 to 18 months. Intervest did take a hit in 2009, when the small firm with $2.4 billion in assets and a $52 million market cap saw loan problems slash away at its pre-crisis $26 book value. If IBCA makes it through the 2011 first quarter with no surprises from its real estate and consumer lending businesses, the stock should be on its way to $4 over the next 12 to 18 months. Ticker: IBCA Price: $3 P/E n/a
SMILE TODAY! BUY SOMEONE'S COFFEE-ICE TEA & AN ICE CREAM FOR THE KIDS! :)
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