| Refinancing: Don't Waste Time Wondering, Just Do It
If you're not changing the term of your loan ... even dropping your rate by an eighth makes sense because you did not have to change anything to get a loan," says Bob Walters, chief economist for Quicken Loans. "It always pays to get a lower rate." Say the current balance of your 6.5%, 30-year fixed mortgage is $250,000 and you are making monthly payments of $1,580. If you refinance into a loan of the same size that's one percentage point lower, 5.5%, you've dropped your monthly payments by about $160 to $1,420. But let's say you want to take out extra cash to pay off $20,000 in credit card debt: You'll need a new loan of $270,000. And even with that higher amount, your monthly payments are still reduced about $50 from your current payments to $1,533 a month. To determine how your monthly mortgage payments will differ under a new loan, use a mortgage-refinance calculator to determine the savings you might receive.
Acerbic, right-wing political old-timer named prime minister of ...
He takes office with a past as an ultra-right wing rabble-rouser, a continuing corruption probe, and a long-standing bent for acid-tongued confrontation. But he's also a wily survivor of four decades in the turbulent Thai political arena and remains popular with lower middle-class voters. Many Samak supporters would be hard pressed to describe his policies, but fondly remember him for his TV cooking show called "Tasting and Complaining," a mix of traditional Thai cooking and rants on Samak's pet subjects. "I don't like Samak. He is rude, he fights with everyone and doesn't have respect for anyone, said taxi driver Ekawat Santirat. "But I know Thaksin wants him as prime minister. And I love Thaksin. He was good to us and he did nothing wrong. Samak can bring him home." Thaksin's Thai Rak Thai party was dissolved after his 2006 ouster but former members formed the People's Power Party, which named Samak as its leader last August.
Challenges Await Dana After Chapter 11
And private equity firm Centerbridge Capital Partners LP has agreed to invest as much as $500 million in the company.
"That alone makes us a stronger, more competitive company," Dana spokesman Chuck Hartlage said.
Troy, Mich.-based Delphi Corp. also is preparing to exit bankruptcy before the end of March. Its plan is to shift manufacturing overseas and eliminate thousands of jobs in the U.S.
Still, the question is whether it will all be enough.
Industry analysts say parts suppliers, especially those with strong ties to one or two American automakers, will continue to be squeezed by car companies looking to cut costs.
"It's a terrible market for suppliers," said Sean Egan, managing director of independent ratings firm Egan-Jones Ratings Co.
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