Bank of America Sued by Shareholders
A contingent of Bank of America shareholders filed suit against the bank on Monday over its foreclosure paperwork practices. The complaint alleges the bank did not properly record mortgage documents as the bank either originated or acquired them. This failure to properly record created unreasonable complications when foreclosure actions became necessary.
The suit also states that the bank's mortgage documentation problems, insufficient staffing levels, and evidence that its employees failed to properly review loan documents before approving foreclosures contributed to the bank's decision to freeze foreclosures in October. Therefore, the bank's top management stand accused of breaching fiduciary duties, corporate mismanagement, and wasting corporate assets.
To read more, visit Shareholders sue BofA over foreclosure practices.
In order to avoid slip and fall accidents at your business, it is important to take steps to reduce your risk of liability. Keeping floors dry, clean, and free of obstructions is also important. Someone should be tasked with monitoring the cleanliness of floor space throughout the office. If items are left on the floor for a long period of time or the floor is wet, you are putting yourself at risk for accidents. 
According to Technomic Inc.’s annual report on top U.S. restaurant chains, Firehouse Subs was the eighth fastest growing restaurant chain in the United States in 2010. Firehouse reported sales of $235 million in 2010, which was a 14% increase over the previous year. This is only the latest accolade for the Jacksonville-based submarine sandwich company, which has been experiencing an uphill projectory stimulated by franchise growth. 
AT&T has announced its intent purchase T-Mobile for $39 billion. The purchase would create the largest wireless carrier in the U.S., with an estimated 130 million subscribers. T-Mobile's current parent company, Deutsche Telekom, released a statement explaining that the deal has been approved by both companies' Board of Directors. However, the deal must first be approved by the FTC and SEC. Some critics are skeptical that the deal will ultimately be approved, pointing to the current lack of choice in the U.S. cellular market. Others claim that the U.S. has one of the most competitive markets around, stating that in 18 out of the top 20 markets, consumers can choose between 5 or more providers.
Always be on the lookout to protect yourself and your family against consumer scams. The following are some helpful tips to protect against common consumer scams. 
Most people wouldn't think twice about signing a personal guarantee for their business. However, most financial advisers and business attorneys advise to only do so as a last resort. The reason being, you stand to lose a lot more than your business and any assets it may hold. You, as the guarantor, could lose personal assets such as your home.
When deciding on whether or not to invest in a franchise, it is important to make a thorough evaluation of the franchise. The top three things to consider when evaluating a franchise are hidden costs, markets and marketing, and finances. The main mistake most people make when evaluating a franchise is to not considering all the costs associated with starting the franchise. Also, most forget to figure in the startup lag that may be from a few months to a year. When sitting down to evaluate a franchise, make sure to pay attention to the business plan for marketing costs and the breakdown of competition. Also, do not forget to take a look at the franchisor’s financial history. While it is important to know the future finances, it is also important to know the growth patterns and evaluate how the franchisor makes its money. 
A shocking 23.8 percent of all traffic on the internet around the world involves digital theft with BitTorrent responsible for 11.4 percent of that traffic. BitTorrent is a peer sharing protocol that is used to obtain a large amount of data over the Internet. It is one of the more popular protocols that distribute a great amount of data without loading down the computer. In the United States, more than 17 percent of internet traffic involves copyright infringement, with BitTorrent accounting for 9 percent. The price of internet piracy is ultimately passed to the consumer, who will have to bear slower internet speeds and higher costs. 
The decision to declare bankruptcy should be a difficult decision to make, and never considered lightly. It is always a smart decision to consult an attorney before filing. You may even wish to work with lenders, creditors to devise a payment plan. 
Stein Mart is a retail chain, headquartered in Jacksonville, Florida. The company recently posted a net income of almost $19 million for the fourth quarter, which ended on January 29, 2011. This is a significant jump in revenue given the company's fourth quarter net for last year totaled less than $3 million.
Chapter 11 Bankruptcy is the corporate equivalent of Chapter 13 financial reorganization. Pursuant to Chapter 11 procedure, the debtor must prepare and present a plan within 120 days of filing, and it must be approved by the bankruptcy court, trustee, and a committee of the business' top 20 creditors. The plan is prepared with the intention to pay the lenders and creditors a reduced amount over a 5 to 10 year period. If, at any point, the creditors or trustee feel that the business is not being run appropriately, they can petition the court to have a new fiduciary appointed to direct the day-to-day operations. On average, because Chapter 11 is a long and costly process, only about 10% of businesses survive and emerge from Chapter 11 successfully. 
On Thursday, March 10, a federal judge will decide whether the embattled Blockbuster rental chain will be liquidated or stay in business.
Attorney David J. Stern, also known as the "Foreclosure King", has announced that he will cease all Florida-based foreclosure work by the end of March. Stern's firm has come under great scrutiny over the last year as evidence of robo-signing has surfaced. The Florida Attorney General's Office began investigating Mr. Stern's firm following such allegations. As a result of the investigation, more evidence of fraud has emerged, forcing Stern to cease all foreclosure activity in Florida. Presently, the firm that filed over 70,000 foreclosures in 2010 has over 138,000 square feet of vacant office space and has laid off hundreds of employees. In addition, the firm has filed notices to withdraw from over 750 cases in St. Johns County alone.
Local eatery, The Times Grill, has been acquired by another local business. 
