‘Mass Affluent’ But Not Opulent Slice of U.S. Consumers as Scared as the Rest of Us: Report

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They have six-figure incomes, may own their own business, and have enough to occasionally splurge on luxury status goods like Fendi bags and Lexus sedans.

But unlike what many neighbors and co-workers shy of their income bracket might think, the 15 to 30 percent or so of Americans who hold between $100,000 and $250,000 in investable assets — a demographic known as the “mass affluent” by the financial services industry — are far from feeling wealthy. Many dont even feel financially secure.

That finding comes from recent surveys conducted by two of Americas biggest financial institutions, Bank of America (NYSE:BAC) and Wells Fargo & Co. (NYSE:WFC).

In the Bank of America survey, commissioned by brokerage unit Merrill Lynch and released in November, only 14 percent of the 1,004 respondents described themselves as “wealthy.” Seventy-seven percent reported being in worse off or unchanged financial shape when compared with a year ago.

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OHIC analyzes how insurers are meeting affordability standards

PROVIDENCE – The R.I. Office of the Health Insurance Commissioner found that its affordability standards have been effective in setting public priorities for commercial health insurers.

The standards have helped improve system affordability, monitor the insurers’ progress and “hold them accountable for this important work,” it said in an 18-page report.

Overall, the three commercial insurers – Blue Cross & Blue Shield of Rhode Island, UnitedHealthcare of New England, and Tufts Health Plan of Rhode Island – were found to be in basic compliance in a process described as “ongoing.”

The report, released on Dec. 14, provides an evaluation of how commercial insurers in Rhode Island are complying to date with the four affordability standards mandated by R.I. Health Insurance Commissioner Christopher F. Koller in July 2010. The stand

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Businesses face 40 per cent hike in overheads if markets close – report

Thousands of small and medium-size Midland traders could suffer a crippling 40 per cent increase in their overheads if Birmingham Wholesale Markets are forced to close, according to a research document.Birminghams growing reputation for fine dining would be placed at particular risk, with restaurants having to increase prices by a minimum of 2 a dish after losing access to cheap market produce.

The Essential Catalyst study, by Technolink UK for the 73 market trading companies, paints a bleak picture of the economic impact if Birmingham City Councils plans to redevelop the Pershore Street site triggers the end of the Wholesale Markets.

Michelin-starred Birmingham chef Glynn Purnell has added his support to the markets, warning that prices would rise if traders had to go further afield to buy stock.

One of the largest of its kind in Europe, the markets employ 1,100 people and have an annual turnover of 275 million.

But the study adds that when the impact on the supply chain is taken into account, the markets support 15,000 jobs in the wider economy.

The figure, which is as large as the number of jobs at risk when MG Rover collapsed, has been disputed by the city council.

Leaders of the councils Conservative-Liberal Democrat coalition say they will work with traders to find a new home for the markets.

But a planned out-of-town move to Witton fell through earlier in the year, and the local authority, which has to find spending cuts of more than 400 million, has made it clear it is unlikely to be able to fund any relocation.

The study claims that protracted uncertainty by the council over redevelopment options for Pershore Street has put off new traders from moving to Birmingham and caused the markets occupancy rate to fall to 75 per cent.

Council statistics suggest that about 5,000 independent local businesses use the markets to buy produce, although the study puts the figure at 7,500.

The report warns: Given the price differential between wholesale and retail sourced goods, the small independent sector is particularly vulnerable to what would amount to a price shock of a magnitude of 30-40 per cent, excluding transport costs, if access to the Wholesale Markets became constrained.

Such a price shift would not only jeopardise employment opportunities but the actual commercial viability of many of these SMEs.

Mr Purnell, of city centre restaurant Purnell’s, warned the cost of restaurant meals was bound to rise if the markets closed.

Mr Purnell added: If I had to go to Manchester, Bristol or London, I couldnt put a lunch menu on for 26.

The markets are part of Purnells, they are part of why it works, we rely on the markets.

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Champion corporate office leaving Vanderburgh County

Officials with United Components, Inc. (UCI) have announced plans to move its world headquarters from Evansville to Lake Forest, Ill. a Chicago suburb.

UCI is the parent company of Champion Laboratories in Albion and West Salem, Ill., and Airtex Products in Fairfield, Ill.

Keith Zar, vice president and general counsel for UCI in Evansville, confirmed the decision Friday.

“The move will involve approximately a dozen individuals currently located in Evansville,” Zar said. “The move will take place over the next month or so.”

UCI moved its headquarters to Evansville in 2004, occupying a portion of the Koester Contracting Corp. building on U.S. 41 north of Inglefield Road in northern Vanderburgh County.

The UCI move to Evansville in 2004 was supported by $565,000 in commerce incentives. Accordi

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Finding a tenant is a scientific process

finding a tenantIf a landlord has to deal with a difficult tenant this is a terrible nightmare. It is really essential to choose the right tenant to avoid sleepless nights. Finding a tenant is important not only for home owners. Sometimes you as a tenant have to move out quickly and don’t want to pay for breaking the lease. Then a good tenant can take over the lease without any penalties.

The success of any rental business is based on tenants. Needless to say, before you start looking an appropriate tenant, familiarize yourself with the rental laws applicable for your property.

The selection process must be carefully planned and well executed. I Read all post…

Susser offers stock at $21.75 per share

Susser Holdings Corp. offered its 3.5 million new shares of common stock at $21.75 each, the company announced Thursday.

The transaction for the public offering was completed Thursday night said Mary Sullivan, executive vice president and chief financial officer for Susser Holdings.

The offering closes on Wednesday, when the company receives its money, Sullivan said.

The sale’s underwriters still have a 30-day option to sell an additional 525,000 shares.

Proceeds from the stock sale will pay for a capital expansion program for the Corpus Christi-based convenience store chain and wholesale fuel distributor. Proceeds will also go toward other uses including paying down debt from time to time.

Susser Holdings plans to add 25 to 30 large-model Stripes convenience stores in 2012.

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