Browsing Category: "Financial Press Release"

Nonprofit Organizes Run in Vegas to Raise Funds for US Soldiers in Financial Crisis

Tuesday, May 20th, 2008 | Financial Press Release

A 5K run in Las Vegas will benefit soldiers and their families battling financial struggles at home. Former soldier Randy Couture's nonprofit Xtreme Couture GI Foundation, and Fighters.com are part of the race on Saturday May 15, 2008.

Lincoln, NE (PRWEB) May 12, 2008 -- For soldiers fighting in Iraq there is more than one battle to fight. According to recent reports, soldiers are in financial need at home as they fall behind in house payments and return with expensive medical issues. A former soldier and the owner of Fighters.com are responding.

Xtreme Couture 5K Freedom Run. May 18, 2008, in Las Vegas, Nevada
Xtreme Couture 5K Freedom Run. May 18, 2008, in Las Vegas, Nevada

Fighters.com is sponsoring The Xtreme Couture Operation Freedom 5k Run. The race is part of the Xtreme Couture GI Foundation's effort to raise money for troops who are in financial trouble as they fight in Iraq. The Xtreme Couture Operation Freedom 5k Run will be on Saturday, May 17 in Las Vegas, Nevada.

"This really hits a number of things with me and we are proud to be the premier title sponsor for this event," said Fighters.com President and CEO Jeremy Schoemaker. "I am a big fan of physical fitness. Also, the money from this race goes to help American troops who have suffered massive losses."

The race was organzied by the Xtreme Couture GI Foundation, which was founded by Randy Couture, current UFC Heavyweight Champion. Nicknamed "Captain America," Couture is a former soldier who served in the U.S. Army for six years. He later competed as an alternate on the U.S. Olympic wrestling team in 1988, 1992, 1996. Couture is ranked second on Fighters.com as "The Natural" (16-8).

Fight fans and military supporters to show their support by running with Couture. Schoemaker and the Fighters.com promo girls will be there to greet runners when it starts. They will be at the Centennial Hills YMCA in Las Vegas. The race begins at 8:00 AM, with registration beginning at 6:00 AM.

Registration cost is $45 before May 12 and $60 thereafter. To register online go to:
www.xtremecouturegifoundation.org/OperationSignUp.asp

In March 2007, the 44-year old physical phenom returned from retirement to recapture the UFC heavyweight title in a five-round unanimous decision over fourth-ranked "Maine-iac" Tim Sylvia (24-4). In October 2007, Couture sent his "resignation" to the UFC, but is still considered co-champion by the promotion.

About Fighters.com
Fighters.com was founded by online marketer Jeremy Schoemaker to showcase UFC fights and personalities. Shoemaker owns several online companies and writes on the popular blog Shoemoney.com. Fighters.com premiered online April 1, 2008 and is the fastest growing online MMA community. Read more about Couture at http://www.fighters.com/fighter/Randy_The_Natural_Couture.html.

About Xtreme Couture GI Foundation
Xtreme Couture GI Foundation, a 501 (c) 3 non-profit corporation, was founded by former solider Randy Couture and his wife Kim. The foundation was formed to raise money and awareness for those wounded in action and their families.

The Foundation receives referrals from the Military Severely Injured Center for soldiers and families who are experiencing financial crises. The Foundation assists soldiers with house payments, bills, and helping discharged soldiers start their lives back home.

For more information, contact Alexa Wakefield at alexa(at)xtremecouture.tv or visit the Xtreme Couture G.I. Foundation's web site at www.xtremecouturegifoundation.org.

Source

Americas Watchdog Is Offering Free Advice To All Consumers Who Were Taken In The $320 Billion Dollar Auction Rate Securities Scam

Tuesday, May 20th, 2008 | Financial Press Release

Americas Watchdog is offering to help all victims of the auction rate securities scandal. The group has termed the auction rate securities debacle, "the single worst case of fraud in US history". Why is this the biggest case of fraud in US history? Over 100,000 US citizens were told by their name brand US bank, a high profile Wall Street stock brokerage firm, or a financial institution that individual investors there was no risk in something called an auction rate security, they were liquid, they were just like cash". On February 14th 2008, the auctions failed, and now over 100,000 US investors are wondering if they will ever see their money again. In this case its $320 billion dollars. This represents the life savings of most victims. Victims can call Americas Watchdog anytime at 866-714-6466

(PRWEB) May 12, 2008 -- Americas Watchdog is offering to help all victims of the auction rate securities scandal for free? Why is this a scandal? Over 100,000 US citizens were told by their name brand US bank, a high profile Wall Street stock brokerage firm, or a financial institution that individual investors should cash in their CD's or money market accounts, because there was no risk in something called an auction rate securities. The victims were also told auction rate preferred shares or auction rate shares investments were safe, they were liquid, etc. On February 14th 2008, the auctions failed, and now over 100,000 US investors are wondering if they will ever see their money again. According to Americas Watchdog, "this is the single worst case of fraud in US history. We want to hear from every victim at 866-714-6466" so we can try to help them".

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To further illustrate why this was fraud: according to the New York Times, the big US banks, the big stock brokerage firms and the big financial institutions advised their institutional clients to get out of auction rate preferred shares (ARPS) or auction rate shares (ARS) over a year ago. The big US banks, name brand stock brokers and financial institutions then proceeded to fill in the void left by the big investors, with little mom & pop investors who trusted the bank, stock broker or financial institution come on lines, "its just like cash, there is no risk, you have no worries, you can get your money anytime". According to Americas Watchdog, "it was one big fat lie and it was fraud. These were never safe, these were never liquid, it was a game of old maid, & now tens of thousands of US consumers are stuck with nothing, and dim to no prospects for a future with their money". Victims of the auction rate securities scandal can call Americas Watchdog anytime at 866-714-6466. Their web site is at Http://ARSWatchdog.Com

So what should any individual involved in the auction rate preferred shares (ARPS) or auction rate shares (ARS) scandal do?

According to Americas Watchdog, "we want every victim to call us because they need to start making smart choices to protect themselves and we want to tell them everything we know". Starting with":

  • Americas Watchdog & their Auction Rate Securities Complaint Center is recommending that most auction rate shares or auction rate preferred shares victim talk with an arbitration law firm that has a specialty in securities law. The group can makes some very good suggestions.

Important Note: Some personal injury type law firms with no securities experience are now creating web sites that say they can help victims with auction rate securities legal issues. If a consumer who was defrauded with auction rate securities (ARPS or ARS) wants to know who to call Americas Watchdog can make some recommendations.

  • Americas Watchdog will try to explain the secondary market to every consumer who has a auction rate security. The secondary market is a place that has been created to buy investors out of the ARPS or ARS investment. While the secondary market will involve a discounted sales price, a good portion of the discount could be made up in the arbitration process.

  • Americas Watchdog wants to hear from everyone who was sold auction rate preferred shares or auction rate shares in order to hear what they were told by a US bank, a name brand stock brokerage firm or a financial institution. Again a victim can call Americas Watchdog anytime at 866-714-6466 or visit their web site at Http://ARSWatchdog.Com

  • Another reason Americas Watchdog wants to hear from every consumer is because of so much disinformation about a miracle fix to the auction rate securities disaster. Disinformation includes, a magic fix by the SEC, state regulatory agencies fixing the problem or even all of the banks stock brokers or financial institutions giving people back all their money. According to the group, "some people have been cashed out, but we fear that's about it. Many of the investments involved in auction rate securities are so toxic that the victims may not get their money back for 20 year if at all (student loans). This is why we want victims to call us as an honest national resource in this incredibly bad situation". The groups number is 866-714-6466.

Americas Watchdog has been at the forefront of trying its best to assist all victims of the auction rate securities disaster. The group intends to continue all of its investigation and its efforts to assist all victims. According to the group,"its been nearly three months and now we really want to talk to the victims of a just like cash, safe & liquid investment that in fact was anything but safe, liquid or just like cash". Anyone who purchased an auction rate preferred shares or an auction rate preferred share should call Americas Watchdog at 866-714-6466 or visit their web site at Http://ARSWatchdog.Com

Americas Watchdog and its ARS Watchdog are all about protecting consumers in what will turn out to be the single worst case of fraud in US history.

Source

Prosper Releases Market Survey Results for April 2008

Tuesday, May 20th, 2008 | Financial Press Release

SAN FRANCISCO (Business Wire EON/PRWEB ) May 13, 2008 --
Prosper, Americas
largest people-to-people lending marketplace, today released results for
April 2008.

April 2008 Prosper People-to-People Lending Market Survey

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Prospers People-to-People Lending Market
Survey results are released the second Tuesday of every month. To
register to automatically receive the survey, send an email with SUBSCRIBE
in the subject line to: p2plendingmarketsurvey@prosper.com.

Market Commentary By Prosper Co-founder and Chief Executive Officer,
Chris Larsen

In April, we saw the supply of loan listings with an attractive
risk-return tradeoff hit an all time high and approximately double
compared to the prior month. At the end of March, the supply of loan
listings with an attractive risk-return tradeoff was approximately $5
million; and at the end of April the supply increased to approximately
$11 million and has remained at that level into May.

This significant increase in the supply of loan listings with an
attractive risk-return tradeoff is attributed to the fact that on April
15 we commenced our business arrangement with WebBank, a Utah-chartered
industrial bank. Through our agreement, all loans originated through the
Prosper marketplace resulting from listings posted on or after April 15,
2008 are made by WebBank under its bank charter. Prosper provides
services to WebBank in connection with the origination of such loans and
Prosper services loans made to Prosper borrowers on behalf of registered
Prosper lenders who purchase such loans. In effect, this partnership
opened the platform to more borrowers, who may have previously been
constrained by low state rate caps.

Also in April, we saw the supply of prime borrower listings hit an all
time high, accounting for nearly half of all loan listings in terms of
dollars requested. Prime borrower originations also reached its record
level of 43% of funded loans.

Currently, the significant increased supply of quality listings is
providing more attractive bidding opportunities, which is making it
easier for lenders to efficiently deploy more money onto the platform.

Mix of Funded Borrowers

    April

2008

  April

2007

  Year-to-Date

2008

  Year-to-Date

2007

  Since

Inception

Prime   43%   30%   41%   28%   33%
Near Prime   51%   55%   53%   55%   54%
Sub Prime   6%   14%   5%   17%   13%

Membership and Loan Volume Statistics

    April

2008

  April

2007

  Year-to-Date

2008

  Year-to-Date

2007

  Since

Inception

New Members   46,312   34,144   154,585   137,849   692,713
Funded Loans ($)   $8.5 million   $8.7 million   $28.9 million   $28.3 million   $137.3 million
Funded Loans (Units)   1,305   1,091   4,379   4,145   21,699
Average Loan Size   $6,486   $7,956   $6,607   $6,824   $6,326
Daily Average Number of Borrower Listings   2,744   2,001   2,333   1,866   1,665

Estimated Annual Return on Prosper Select Index

    April 2008
Prosper Select Index   8.84%
Prime Select Index   8.90%
Near Prime Select Index   8.65%
Sub Prime Select Index   11.56%

Average Borrower Rates on Prosper Select Loans

    April

2008

  March

2008

  April

2007

 

Year-to-Date

2008

 

Year-to-Date

2007

 

Since

Inception

Prime Select Loans   9.82%   9.86%   10.44%   9.96%   9.88%   10.04%
Near Prime Select Loans   15.05%   15.52%   15.46%   15.91%   14.96%   16.04%
Sub Prime Select Loans   25.00%   35.00%   25.29%   28.88%   22.60%   24.17%

Definitions

Attractive Risk-Return Tradeoff:
For purposes of this survey release, listings are considered to have
attractive returns if, based on historical loan repayment performance of
Prosper borrowers with similar characteristics, they are priced
sufficiently to compensate lenders for risk. Risk includes both the risk
of non-payment by the borrower and other risks associated with
people-to-people lending. In general, as the credit quality of the
borrower declines, the range of possible returns widens, requiring a
larger risk premium to compensate the additional uncertainty. The amount
of risk premium required to compensate for a given level of risk is a
subjective judgment. The following formula is used by Prosper to
determine if a listing is priced adequately to have an attractive risk
adjusted return: Maximum Borrower Rate >
Risk Free Rate1 + 3.25% + (Expected Annual
Default * 1.5) + Prosper Servicing Fee. All lenders should make there
own judgments with respect to what constitutes an adequately priced
listing.

1 Risk Free Rate = 2-year CD national rate on
BankRate.

Since Inception: November 1, 2005
through April 30, 2008. Prospers by
invitation only friends and family
launch began on November 1, 2005 and Prosper launched to the general
public on February 13, 2006.

2008 Year-to-Date: January 1, 2008
through April 30, 2008.

2007 Year-to-Date: January 1, 2007
through April 30, 2007.

Prosper Select Index: The Prosper
Select Index return is the estimated average annual return on principal,
based on actual delinquency performance to date. The Prosper Select
Index includes AA - E credit grade loans for borrowers whose credit
reports at the time of application indicated zero current delinquencies,
three or fewer credit inquiries, and a debt-to-income ratio of 40
percent or less. The annual return period reflects loans originated in
the twelve month period ending one month prior to the observation date
of April 30, 2008. Prime Select includes AA and A credit grade loans
(credit scores of 720+). Near Prime Select includes B, C, D credit grade
loans (credit scores between 600 and 719). Sub Prime Select includes E
credit grade loans (credit scores between 560 and 599).

Average Borrower Rates: Average
Borrower Rates are the weighted average borrower rates on Prosper Select
Index loans with loan amounts between $5,000 and $10,000. Rates shown
are interest rates, not annual percentage rates.

Mix of Funded Borrowers: Prime
includes all AA and A credit grade loans (credit scores of 720+). Near
Prime includes all B, C, D credit grade loans (credit scores between 600
and 719). Sub Prime includes all E and HR credit grade loans (credit
scores below 600).

About Prosper

Prosper (www.prosper.com),
America's largest people-to-people lending marketplace, was created to
make consumer lending more financially and socially rewarding for
everyone. Prospers membership consists of
over 700,000 people from across the country. Since launching in February
2006, over $140 million in loans have been funded in the marketplace.

The way Prosper works is intuitive to people who have used eBay. Instead
of listing and bidding on items, people list and bid on loans using
Prosper's online auction platform. People who want to borrow on Prosper
create loan listings for up to $25,000 and set the maximum rate they are
willing to pay a lender. People who register as Prosper lenders set the
minimum interest rate they are willing to earn and bid in increments of
$50 to $25,000 on loan listings they select. In addition to criteria
commonly used by institutional lenders, such as credit scores and
histories, Prosper lenders can consider borrowers' personal stories,
endorsements from friends, and group affiliations. Once the auction
ends, Prosper takes the bids with the lowest rates and combines them
into one simple loan to the borrower. Prosper handles all on-going loan
administration tasks including loan repayment and collections on behalf
of the matched borrowers and lenders.

Prosper was co-founded by Chris Larsen, co-founder of E-LOAN, and John
Witchel, technology entrepreneur. Backed by Accel Partners, Benchmark
Capital, DAG Ventures, Fidelity Ventures, Meritech Capital, and Omidyar
Network, Prosper has raised approximately $40 million. Prosper's
marketplace platform is patent pending.