Study: Default on mortgage a moral matter - South Florida Business Journal:

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The report finds that 17 percent of householdsewould default, even if they can afford to pay their mortgage, when the equitt shortfall reaches 50 percent of the value of the "We're in a completely different economic environmenty today, where for the first time sinces the Great Depression millions of Americans have mortgage loans that exceed the value of their said Paola Sapienza of the at who led the research. Moralituy plays a big role in the decision to walk thestudy found.
Thos who said it was immoralp to default were 77 percent less likelyt to declare their intention todo so, while people who know someone who defaulteed were 82 percent more likely to say they would defaulrt themselves. "Our research showedr there is a 'multiplication where the social pressure not to default is weakened when homeownerzs live in areas of high frequency of foreclosures or know otherzs whodefaulted strategically,” said Luigi Zingales of the Universityu of Chicago Booth School of Business, and one of the study’sd co-authors.
People under the age of 35 and over the age of 65 were less likelg to say it was morally wrong to defaulft comparedto middle-aged respondents. People with higher education (eighg percentage points) and African-Americans (14 percentag points) are less likely to think it is morally wron gto default, whereas respondents with a highere income are more likely to think it is moralluy wrong. Default is considered less morally wrong inthe U.S. Northeast (six percentages points) and West (8 1/2 percentage points). There was little difference in the moral view of strategivc default among Republicansand Democrats, but Independents were less likelyt to say defaulting is immoral.
were 12 percentage pointw less likely to say strategix defaultis immoral. "As defaults become more the social stigma attacher with defaulting will likelybe reduced, especially if therd continues to be few repercussions for people who walk away from thei r loans," concluded Sapienza. "Thias has an adverse effect on homeownerw who do paytheir mortgages, and the after-effects of more defaultss and more price collapse could be economic

Mayweather, Golden Boy Remain in Contact For The Future - BoxingScene.com

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Mayweather, Golden Boy Remain in Contact For The Future BoxingScene.com Golden Boy Promotions CEO, Richard Schaefer, told BoxingScene.com that he is continuing to remain in contact with unbeaten, six-time titlist Floyd Mayweather, both socially as well as from a business standpoint, although he would not ... and more »

Don't short-sell the electorate - Sydney Morning Herald

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Don't short-sell the electorate Sydney Morning Herald A TACTIC well known among the financial cognoscenti - ''shorting'' - means betting against an asset with borrowed money in the expectation of making a profit when its value goes down. A speculator can ''short'' a government by borrowing its debt at its ... and more »

David Hisey Executive Profile

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**All Executive profile data providedc byDow Jones & Co., Inc.

Sprint Nextel has Palm Pre exclusively through year

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The Overland Park-based company S), the third-largest wireless carrier, with about 49 million still wouldn’t give exact datea of its exclusivity period. The Pre, a touch-screen phonew with a slide-out keyboard made by Palm Inc. PALM), . The phone operates on a new webOS platformn that enables users to integrate informatioh from multiple places into one contacts listor e-mail view, and it supportz professional, social, entertainment and personal data. CEO Lowell McAdam reportedly saidthe company, the No. 1 wirelesws carrier, will offer the phonde within six months. Sprint clarified its claimj on the phone through theholidauy season.
The Pre is intended to help Sprint combat the madeby (Nasdaq: AAPL) and offererd by No. 2 wireless carrier T). Sprint has been losing customers, includinhg about 4.1 million contract subscriberswlast year. Sprint ranks No. 1 on the Kansas City BusinessJournal ’s list of the area’ws top public companies.

SVB Silicon Valley Bank establishes clean-tech practice - East Bay Business Times:

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The San Jose bank appointede Quentin Falconer to lead business development inthe clean-tech industry. Based in SVB Silicon Valley Bank's Pleasanton Falconer is also responsible for coordinatinghthe company's clean-tech experts in the bank's centrapl and eastern regions. Senior bankers Frank Amoroso in Denvee and Dave Rodriguez in Bostoh are also partof SVB's clean-tech team. SVB works with emerging and growth venture-backed companies and larger establishee firms in most technology and lifescience industries. Since 2005, it has worked with 100 clean-technologh companies. "Critical mass and following the money" are the two driverd behind the decision, Falconer said.
The bank has reachesd a critical mass of clients that consider themselve sclean tech, and SVB is also looking at the amount of venturd capital going into the he said. Venture capital investing in clea n technology companies has surged over the past several In the first three quartersof 2007, venturre capital companies invested $2.6 billion in clean-tecnh firms, up from $1.8 billiomn for all of 2006. The 2007 levelp represents the highest dollarvolume ever, accordingy to Thomson Financial and the National Venture Capital Association. The pace of growtyh is expected to continue into this There are two broad areas in which Falconer says the bank can workwith venture-backed firms.
One is to help development-stagwe companies that have received venturefinancing "expand thei runway," or leverage that investment before goinf back for another round. That can take the form of term debt on top of anequitgy round, Falconer said, which in essence gives a compan y more time to develop its technology and buils more value before its next equity round. For later-stage companieas with revenue ofbetween $5 million and $50 millioh already coming in, SVB can help with workingh capital needs.
By SVB's count, it currentlty banks half of all venture-backed companies From the bank's perspective, cleanm technology is really allabout technology, so any company that is a tech companty is a natural fit, Falconer said. Throughb its venture exchange, which is part of SVB Capital, the company'xs private equity unit, it also helps companies find venture funding. SVB Silicon Valley Bank refer s to both Silicon Valley the company's California bank subsidiary, and the commercialo banking operation of (NASDAQ:

St. Louis Cardinals to fly past the Los Angeles Dodgers on the road Friday - SBR Forum

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St. Louis Cardinals to fly past the Los Angeles Dodgers on the road Friday SBR Forum One of the late West Coast National League MLB matchups on the Friday night card sees the St. Louis Cardinals (6-7 over »