#Plan-average-Bankruptcy-Business-Business

[csclueless]

On Trying Too Hard

When I was in my senior year of high school, the student director of a show I was in was passing around compliments before opening. I, perpetually starved for affirmation, waited patiently until it was my turn.

They look me in the eyes, take my hands in theirs, and say "Cris, I think you're really funny, but like... accidentally." They smile softly and walk away presumably to pay someone a compliment with less devastating implications, like something about their acting prowess or how they nailed that pas de chat. Thank God I was wearing a mask, as I can only imagine my face morphing into a look of sheer terror.

After the show, I went to my friends in the cast and not so slyly asked them what compliments they got. "Oh that I was a fantastic dance captain," "That I wasn't afraid to stand up for myself," "I got thanked for helping teach the choreo."

Then one by one they'd go: "You?"

And every time I'd say, "That I had a good sense of humor." It was a good lie because only someone with a good sense of humor could take a "compliment" like that without breaking down right then and there.

This spawned an inside joke between me and my roommate when I told this story. Whenever I get praise for any piece of my writing, whether an essay, a report for my school newspaper, or a stupid bit I publish in the school's satire mag, I proudly proclaim, "Just wait til' you see me trying." All you can do in an industry like this one is try. You're not guaranteed success, but you can very easily try. So that's what I plan to do.

I am gonna try, then make it or file bankruptcy, then live on benefits for all the things about myself I've been neglecting because I was too busy trying, then use that money to STILL be trying.

If I told that director my dream job now, they'd go "Oh! Yay!" which could either be a "Glad I was wrong about him!" yay or a "Oh my god you're going to be poorer than the average writer!" yay. Thankfully, I won't have to guess soon, because they want to go to the same college as me, which means they will inevitably ask about my major and I'll have to come clean and hear an "Oh! Yay!" where I'll then reply "Yeah, I'm trying."

I'm dreading it.

[schmergo]

With the news that David’s Bridal has filed for bankruptcy, I just wanted to say that I hope they can find a buyer and don't shut down for good. I personally love my David's Bridal wedding dress (heck, it's my favorite thing I've ever worn!) and loved the experience I had at the Springfield location. I know it's not the fanciest, classiest joint and it's not very hip to have a mass-produced wedding dress from a chain store, but it felt welcoming and accessible to me in a way that not many wedding industry businesses do.

I feel like the gulf is diverging rapidly between 'high-end wedding' and 'budget wedding.' The average wedding dress from a bridal boutique costs almost $2,000, while online stores offer much cheaper dresses. But while there are a lot of convenient and affordable options online, it doesn't give that experience of trying on different dresses and styles in front of your family and friends with the help of a knowledgeable consultant-- and you might not realize how different the dress looks in person than online until it's too late. 

And while secondhand or consignment bridal stores are an amazing option and I highly recommend them (I planned to visit one if my trip to David's Bridal didn't pan out), you won't have as many options for styles in your size if you have a specific vision or style preference like I did. David's Bridal makes the full experience of trying on wedding dresses in-store accessible to people who can't afford a designer gown. I don't like the idea of the 'bridal store' experience only being for the wealthy. But budget isn't the only reason it felt more inclusive to me.

My favorite thing about David's Bridal is their size-inclusiveness. Unlike many higher-end retailers, they have sample sizes in store in a wide variety of sizes. Many brides who visit fancy bridal stores can only hold a dress up to them and imagine what it looks like, or try it on with the whole back open and clipped into place. Typical sample gowns are often in designer bridal sizes 8-12, but that translates to something closer to street sizes 4 to 8. That leaves out a LOT of customers. Though things are changing, they haven't changed fast enough. 

Not only are David's Bridal dresses fairly true to size, they have samples in a wide variety of sizes. I wear a street size 10-12 and those are the dress sizes I tried on at David's-- and I was able to try on every dress in my own size except for one brand new dress that we pulled off the mannequin. Unlike many other bridal stores, David's Bridal doesn't charge more for plus sizes, offers all their dresses in sizes 0-30, and uses models of all sizes in their advertising and catalogs.  Although I didn't purchase a plus size dress from David's Bridal, a street size 10-12 is often considered plus at other higher-end bridal stores and would have much more limited options, especially within my small budget.  And it made me feel way better to know that I was shopping in a place that wouldn't turn away other people I love and care about if they were to shop there, too.

Like many chain stores, David's Bridal experiences and stores can vary between locations. I've heard some horror stories about the stores, and I also was warned not to use their alterations department (I didn't). But when I had my appointment at David's Bridal, I never felt excluded from making certain choices or uncomfortable with my body, never felt like a less valuable customer, and the consultants were only positive and enthusiastic. I can sometimes feel very self-conscious when shopping for clothes, but it was a great day with some of my favorite people and had good vibes only.

I do hope that they find a buyer and keep at least some stores open, because I'd really like other people to have a nice welcoming experience like I did!

[head-post]

Germany halts additional support for Ukraine due to stagnation of its own economy

The Federal Government no longer wishes to provide Ukraine with any new aid payments for the purposes of cost-saving, FAZ reported, citing documents and electronic correspondence between German ministries, as the German economy unexpectedly contracted in the second quarter.

Finance Minister Christian Lindner sent a corresponding letter to Defence Minister Boris Pistorius and Foreign Minister Annalena Baerbock on 5 August. Thus, Berlin will only provide the military assistance that has already been approved. Chancellor Olaf Scholz is believed to have opposed any new approvals for military aid.

The letter also states that new measures should only be taken if the budgetary plans for this year and subsequent years are financially secured. However, in the future, Germany and the European Union plan to use the profits obtained from frozen Russian assets for military assistance to Ukraine, as various countries, including the US, Japan, the European Union, and others, have previously frozen or immobilised Russian sovereign assets totalling over 280 billion dollars.

Germany, in turn, is lagging behind other major states in the European Union in various aspects. For example, the economy unexpectedly contracted in the second quarter. Investments in equipment such as machinery and buildings, in particular, have decreased.

The Gross Domestic Product (GDP) fell by 0.1 percent from April to June compared to the previous quarter, as announced today by the Federal Statistical Office. Investments in equipment such as machinery and buildings, in particular, have decreased. Many economists from German banks commented on the situation. For instance, Jörg Krämer, Chief Economist at Commerzbank, stated that such a level of the country’s economy indicates that a significant upturn in Germany is out of the question.

This stands in stark contrast to the rest of the Eurozone, whose economy grew by 0.3 percent compared to the first quarter, as reported this week by the EU’s statistical office, Eurostat. Furthermore, Germany was already among the laggards at the beginning of the year, having recorded below-average performance, but now faces even greater difficulties. Currently, Spain and Ireland have taken the place of the strongest economic powers, with growth rates of 0.8 and 1.2 percent respectively, while France has also achieved economic growth of 0.3 percent.

The German economy, on the other hand, is simply stagnating; the largest economy in Europe has long been languishing: since spring 2022, there has been a constant fluctuation around the zero line, and any recovery appears to be different. According to Alexander Krüger, Chief Economist at Hauck Aufhäuser Lampe Privatbank, the primary reasons are complex locational factors and concerning economic policies. He explains that the continuous decline in industrial orders is not coincidental, as it jeopardises jobs.

Berlin’s economy is facing numerous obstacles, such as China losing momentum as a driver of growth in global markets, and the number of corporate bankruptcies within the country is rising. Additionally, the initial reduction in interest rates by the European Central Bank in June has yet to yield any significant improvements for the German economy.

The economists indeed anticipated a recovery in the second half of the year. However, even before the publication of GDP data, economic barometers indicated a false start in the second half of the year: the Ifo Business Climate Index, which is considered the most important leading indicator for the largest economy in Europe, fell for the third consecutive month in July.

In a bid to stimulate the country’s economy, the federal cabinet recently approved the initial components of a package of measures aimed at enhancing the geographical positioning of businesses within the nation. The Traffic Light Coalition (Ampelkoalition) intends to initiate further actions to strengthen this location, which is expected to provide an additional growth impetus of approximately 0.5 per cent in the coming year, equating to an extra €26 billion in production volume.

Monika Schnitzer, head of economists, posits that the growth package proposed by the traffic light government will not deliver a significant boost to the economy. These measures are unlikely to facilitate economic growth of 0.5 per cent in the short term. Moritz Schularick, president of the IfW research institute, corroborated this cautious stance, referring to the “growth package,” whose incentives are expected to remain low.

The International Monetary Fund (IMF) holds a similarly pessimistic view of the economic situation in the country, forecasting growth for Germany of only 0.2 per cent this year – the weakest performance among all the leading G7 industrialised nations.

Read more HERE

[fldebtcollectionattorney]

Understanding Commercial Collection: Strategies and Legal Framework

The Rising Need for Effective Commercial Debt Recovery With over $3 trillion in B2B debt owed, commercial debt collection has become an economic necessity for maintaining healthy credit markets. However, as debt levels rise amid tightening corporate budgets, many creditors struggle to secure payments for delivered goods and rendered services. According to the 2022 Payment Practices Barometer from Atradius, 90% of US companies reported issues with late B2B invoices and receivables over the past year. Alarmingly, businesses now carry an average of 14% of annual revenues tied up in unpaid collections – a 150% increase since 2016. This epidemic of delinquent accounts places immense pressures on creditors of all sizes, threatening working capital reserves, stalling growth initiatives, and elevating insolvency risks. In extreme cases, chronically unpaid debts contribute to over 25% of corporate failures and bankruptcies. For most firms, internal commercial debt recovery has proven ineffective given legal complexities. Instead, specialist support is required to compel payment from resistant debtors through tailored collections strategies rooted in financial and procedural insight. Understanding the Legalities of Commercial Collection Though crucial for healthy credit ecosystems, commercial debt recovery occurs within tightly regulated legal frameworks governing creditor conduct. Key legislation includes: - Fair Debt Collection Practices Act (FDCPA) - Prohibits abusive and deceptive collection practices. - Dodd-Frank Act - Expands consumer protections and oversight. - State Collection Laws - Additional jurisdiction-specific regulations. Commercial creditors and external recovery partners must operate within these rules when pursuing outstanding business debts. Activities like intimidating threats, embarrassing disclosures, or falsely representing legal recourses all violate statutes with civil and criminal liability. However, working within legal boundaries, creditors can still take assertive actions to secure repayment, including: - Issuing documented validation and demand notices - Reporting defaults to credit bureaus - Filing precise civil lawsuits to secure judgments - Enforcing rulings via bank or wage garnishment The intricate overlap between assertive collection and illegal coercion makes specialized legal guidance invaluable for success. Strategic Approaches to Successful Debt Recovery Navigating commercial debt recovery requires an array of tailored legal strategies aligned with specific debtor behaviors and creditor goals. Common methods include: - Pre-Litigation Demand Letters - Formally seek payment before legal options. - Settlement Negotiations - Secure lesser amounts through compromise. - Payment Plans - Provide flexibility while keeping debts legally active. - Civil Judgments - Legally compel payment through court orders. - Bank or Wage Garnishments - Enforce judgments by seizing funds. - Asset Seizure - Take possession of tangible property to auction and force payment. Selecting appropriate approaches requires intimate situational awareness and legal expertise. FAQ: Key Commercial Collection Questions What documentation is legally required for commercial collections? Formal validation notices prove debt ownership and align undisputed amounts owed by referencing original contracts, invoices, statements, and accounting records as undisputed evidence of monies past due. Can I report non-payment of commercial debts to credit reporting agencies? Yes, accurately conveying outstanding business debts legally owed influences credit access and terms while stimulating debtor urgency to resolve past due sums. However, careful presentment aligned with credit bureau standards is essential for compliance. When do I need to hire a commercial collections attorney? Commercial lawyers add legal precision from initial demand through judgment enforcement. Protecting creditor recovery interests requires extensive expertise navigating intersecting debtor protections, evidentiary procedures, statutory limitations, jurisdictional variances, and seizure exemptions. Most internal teams cannot dedicate sufficient resources to overcome these complex barriers. Action: Partnering with Marcadis Singer, PA for Expert Debt Recovery For both enterprise conglomerates and small businesses alike, recovering delinquent commercial debts in-house has proven ineffective against mounting legal obstacles. Specialist support tailored to your risk tolerance, accounts receivable portfolios, and collection goals now represents the surest path to payment resolution. With billions in untapped B2B debts across the US, credentialed legal guidance maximizes outcomes for creditors through customized pre-litigation negotiations, courtroom representations, protective filings, and judgment enforcement support. Contact experienced commercial collection lawyers at Marcadis Singer, PA online or call (813) 288-1881 to discuss maximizing commercial debt recovery based on your unique business needs and outstanding obligation scenarios. Legal Disclaimer This article presents general information only and does not constitute legal advice. Every commercial debt scenario involves unique details which may substantially impact individual results. Outcomes are never guaranteed. Consult qualified legal counsel regarding your rights, risks, and obligations before acting based on any information contained herein. References - The Protracted Challenge of Delayed Payments - Fair Debt Collection Practices Act Read the full article

[epsilonpayments]

Navigating the Landscape: A Deep Dive into High-Risk Payment Processing

In the bustling world of e-commerce, where businesses dance on the digital tightrope, some face a steeper incline than others. Enter the realm of high-risk payment processing, a terrain where innovation battles complexity and opportunities tango with pitfalls.

For businesses operating in industries deemed “high-risk” by traditional payment processors, accepting payments can be an odyssey fraught with hurdles. From adult entertainment to travel agencies, nutraceuticals to credit repair, these businesses often find themselves ostracized by mainstream financial institutions. But fear not, intrepid entrepreneurs! This blog is your compass, guiding you through the intricate web of high-risk payment processing.

Unraveling the Enigma: What Makes a Business “High-Risk”?

Before we chart our course, let’s demystify the term itself. What qualifies a business as “high-risk”? The answer lies in a confluence of factors, including:

Chargeback rates: Businesses with a higher-than-average rate of chargebacks (disputed transactions) raise red flags for processors.

Industry perception: Certain industries, like online gambling or digital downloads, are inherently viewed as riskier due to potential fraud or regulatory issues.

Business model: Businesses with subscription models, pre-paid services, or intangible products face increased scrutiny.

Financial history: A checkered financial past, including bankruptcies or defaults, can cast a shadow on your payment processing prospects.

Charting Your Course: Essential Gear for High-Risk Voyagers

Now, equipped with our map, let’s pack our essential gear for this high-risk journey:

Merchant accounts: These specialized accounts act as gateways for high-risk businesses to accept payments. Finding a reliable provider who understands your industry and risk profile is crucial.

Payment gateways: These platforms handle the technical nitty-gritty of online transactions, ensuring secure and seamless payment experiences. Opt for a gateway with robust fraud prevention tools and global reach.

Risk management strategies: Proactive measures like thorough KYC/AML checks, advanced fraud detection systems, and chargeback mitigation plans are your shields against financial storms.

Transparency and compliance: Being open about your business practices and adhering to industry regulations builds trust with both processors and customers.

Navigating the Terrain: Common Challenges and How to Conquer Them

The high-risk landscape is teeming with challenges, but even the mightiest mountains can be scaled with the right approach:

Higher fees: Be prepared for steeper processing fees compared to traditional accounts. Negotiate with providers and prioritize value over mere cost.

Account termination: Unforeseen spikes in chargebacks or non-compliance can lead to account termination. Implement robust risk management and maintain open communication with your processor.

Limited payment options: Certain high-risk businesses may face restrictions on the types of payments they can accept. Explore alternative payment methods and focus on providing a smooth customer experience.

Reaching the Summit: The Rewards of High-Risk Payment Processing

While the climb might be steeper, the rewards for successfully navigating high-risk payment processing are substantial:

Access to a wider market: Accepting payments opens doors to a vast pool of potential customers who were previously inaccessible.

Increased revenue and growth: Streamlined payment options boost sales and pave the way for business expansion.

Competitive edge: Offering convenient and secure payment methods differentiates you from competitors who may struggle with traditional processing.

The Final Voyage: Bon Voyage, High-Risk Adventurers!

Navigating the landscape of high-risk payment processing demands resilience, resourcefulness, and a healthy dose of risk appetite. But for those who dare to venture forth, the rewards are plentiful. Remember, with the right map, the right gear, and the unwavering spirit of an explorer, you can not only conquer the high-risk terrain, but thrive in its fertile valleys. So, bon voyage, fellow adventurers! May your online transactions be smooth, your customers satisfied, and your business reach new heights!

[legalshell-app]

Getting Expert Legal Help Has Never Been Easier

In today's complex legal system, it can be extremely difficult for the average person to understand convoluted legal documents like contracts, agreements, government forms and more. The intricate legal jargon and terminology can leave your head spinning as you try to comprehend precisely what you are signing or agreeing to. This lack of clarity can have major legal and financial consequences if you unknowingly enter into an unfavorable arrangement. Fortunately, help is now available at your fingertips. The innovative Legal Shell app allows you to simply scan any document and receive an instant legal review breaking down the key terms and conditions into plain language. Whether you need assistance from a family law attorney reviewing a divorce settlement or advice from a business lawyer examining a partnership agreement, Legal Shell has you covered. Built on advanced artificial intelligence, Legal Shell can provide the legal expertise of specialized lawyers without the hefty bill. Get lightning-fast second opinions on documents related to divorce, child custody, personal injury, workers compensation, criminal defense, bankruptcy, employment law, landlord/tenant disputes and much more. The easy-to-use app is ideal for anyone in need of affordable legal services, from DIY legal help to professional legal advice. Don't get trapped into agreements you don't fully grasp. Let Legal Shell shed light on the legalese to protect your rights and best interests. Sign up now and breathe easier knowing you have a legal expert in your corner whenever you need one.

Get the Legal Clarity You Need in Seconds

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Getting Expert Legal Advice is Now Just a Scan Away

Navigating complex legal agreements can be extremely confusing for the average person. Whether you're reviewing a divorce settlement, custody agreement, personal injury claim or business contract, the intricate legalese is enough to make anyone's head spin. Simply scanning these documents into the innovative Legal Shell app provides instant clarity. Built on advanced AI, Legal Shell delivers plain language legal reviews from specialized attorneys in seconds. Planning to sign a confusing divorce agreement? Get advice from a divorce lawyer or family law attorney on spousal support terms. Entering a questionable business deal? Receive guidance from a contract lawyer or business lawyer examining the fine print. Whether you need a child custody lawyer, personal injury lawyer, criminal defense lawyer or legal help in dozens of other practice areas, the Legal Shell app has you covered. Get affordable DIY legal assistance or professional legal advice without the typical hefty lawyer fees. Don't get trapped in unfavorable agreements you don't fully understand. Let the innovative Legal Shell app provide fast legal reviews so you can make informed decisions and protect your best interests.

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Specialized lawyers provide advice instantly

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The Legal Shell app provides fast, affordable access to legal expertise to help you fully understand agreements and protect your rights.

[notebooknebula]

Wealth & Time Freedom In Real Estate: Revealed by Joe McCall & Jay Conner

Private Money Academy Conference:

https://www.JaysLiveEvent.com

Free Report:

https://www.jayconner.com/MoneyReport

Join the Private Money Academy: 

Joe is a Real Estate Investor, Creative Financing Consultant, Outsourcing & Marketing Expert.

He is the host of the "Real Estate Investing Mastery Podcast" and the author of 4 different real estate investing books.

He knows what it's like to feel stuck — like you can't get any traction when it comes to your income or lifestyle. He was there, and he knew there was another way. His life changed when he discovered real estate investing and lease options.

Joe is an avid family guy, who enjoys hanging out with his kids at the zoo, golfing with his boys, or swimming with his girls in the pool. Nothing is more important to Joe than God and family.

As a former Civil Engineer responsible for the design and build of power plants across the country, Joe McCall's superpower lies in his ability to simplify complex business processes and problems. A business owner and real estate investor for more than 10 years, Joe is a master at building a business with a “niche within a niche” mentality, using technology as the foundation for customer acquisition, sales, and deliverability.

Joe only works a few hours a week on the “deals” side of his business, while his virtual team consistently flips several deals a month – all for him, despite him.

Joe is an expert at flipping properties remotely. In the last several years, Joe has built his business in a way that has allowed him to spend months at a time traveling the world to places like Prague, Czech Republic, and 3 months traveling the northwestern part of the US in an RV, with his wife and four kids. While he traveled, he was still able to flip deals in 4 different markets – all remotely – all with very little of his involvement.

Joe believes that three keys equate to success in virtually any business:

1. Marketing

2. Automation

3. Delegation

Timestamps:

0:01 - Raising Private Money Without Asking For It

6:12 - Raised funds for real estate through networking.

8:27 - Short sales, foreclosures, bankruptcy scare, investor repayment.

13:11 - Real estate investment conversation engagement and takeaway.

14:15 - Show interest, practice elevator pitch, land investing.

17:41 - High demand for scarce land with good cash flow.

21:10 - Borrowing for property investment is easy.

24:48 - A Friend's sudden inheritance leads to a property sale.

29:16 - Filter, zoom, analyze - find ideal property.

32:22 - Borrowing money for potential investment plans.

36:27 - Florida Scrub Jay nest protection is costly to sell.

38:12 - Seller's financing for a property development agreement.

41:35 - Negotiating a property sale with an option agreement.

44:24 - Connect With Joe McCall - https://www.SimpleLandContract.com

45:01 - Buy for $5, sell for $15. Easier deals.

46:27 - Jay’s Book: Where To Get The Money Now: https://www.JayConner.com/Book

Have you read Jay’s new book: Where to Get The Money Now?

It is available FREE (all you pay is the shipping and handling) at

What is Private Money? Real Estate Investing with Jay Conner

Jay Conner is a proven real estate investment leader. He maximizes creative methods to buy and sell properties with profits averaging $67,000 per deal without using his own money or credit.

What is Real Estate Investing? Live Private Money Academy Conference

YouTube Channel

Apple Podcasts:

Facebook:

[allaboutmarketing4you]

Why Did Forever 21 File For Bankruptcy? "Forever 21 has been practically synonymous with “fast fashion” and its massive stores have become a common fixture in America’s shopping malls. But the retailer is in trouble, Forever 21 filed for bankruptcy in September 2019. The brand is now closing hundreds of stores, as its clothes become more interchangeable with “cheap” rather than “trendy.”

Video Source: CNBC

More information about Why Did Forever 21 File For Bankruptcy? Well, complement the information and case study presented in the video with the  article, written by The Brand Hopper:

" Forever 21 Bankruptcy : Why And How Did Forever 21 Fail? A few years ago, Forever 21 was ruling the mall as a spectacular success story, but in 2019, it took a tumble into bankruptcy court, signaling what seemed to be an unhappy ending. Back in 1984, South Korean immigrants Jin Sook and Do Wan Chang kicked off the chain with a modest $11,000 they had saved from their low-paying service jobs. Their first store, a tiny 900-square-foot space in Northeast Los Angeles, catered to a young crowd, mainly Korean-Americans, offering them cheap and trendy clothing.

Founders, Forever 21 | The Brand Hopper Founders, Forever 21 The couple had a well-thought-out plan. They adopted a fast-fashion business model, producing quick-turnaround designs that could be mass-produced inexpensively. This approach struck a chord with young customers who desired the latest looks without spending a fortune. By 2015, global sales soared to an impressive $4.4 billion, with a staggering 480 stores occupying vast spaces in malls all over America. Sook and Chang’s wealth skyrocketed, and they amassed a combined net worth of nearly $6 billion. However, the couple couldn’t have predicted the onset of the “retail apocalypse,” which started in 2017 and posed a threat to nearly every retail chain. Thousands of stores across the U.S. shut down this year, with Coresight Research anticipating a total of 12,000 closures by year’s end, surpassing the 5,844 closures in 2018.

The rapidly changing retail landscape placed immense pressure on Forever 21, eventually leading the privately held company to file for Chapter 11 bankruptcy in late September of 2019. As part of its survival plan, the company revealed it would cease operations in 40 countries, including Canada and Japan, and shut down 350 of its 800 stores, including 178 in the U.S. The story of Forever 21’s dramatic rise and fall echoes across the retail landscape, yet there are specific factors that contributed to the chain’s troubles. Let’s uncover the top three reasons why Forever 21 struggled to maintain its dominance.

Table of Contents

Excessive Stores and Oversized Spaces

Insufficient Emphasis on Online Retail

The Shift to Sustainable Practices

Excessive Stores and Oversized Spaces

Forever 21 experienced a rapid expansion, going from outlets in seven countries to an impressive 47 in just six years. While many other retail chains were downsizing due to the retail apocalypse, Forever 21 was still opening new stores as late as 2016.

One major issue that contributed to the brand’s struggles was their ambitious approach to physical retail space. Forever 21 stores were not only numerous but also quite large, with an average size of 38,000 square feet, and some locations taking up massive spaces, like the Times Square store in New York City spanning 91,000 square feet and a mall store in Las Vegas reaching 127,000 square feet.

Forever 21 NYC Store | The Brand Hopper

Forever 21 NYC Store The retailer eagerly ventured into costly, large-scale new stores abroad, but without the necessary local expertise. In just a decade, it expanded from having seven international stores in 2005 to a staggering 262. In the filing, Forever 21 revealed that the majority of its international locations were not profitable by 2015. Over the past year, its stores in Canada, Europe, and Asia were collectively facing losses of around $10 million per month. In total, the annual occupancy cost of all Forever 21 stores amounted to $450 million.

This extensive retail space came with a hefty price tag in terms of rent and operational costs. As sales declined by 20% to 25%, the company found it challenging to meet the high demands of premier locations while facing tough competition from fast-fashion giants like Zara and H&M. Moreover, Forever 21’s large store closures had ripple effects on the malls where they were located. These stores were like anchor tenants, and their shutdowns impacted the overall health of the malls they were in.

Interestingly, while many retailers were shifting towards smaller footprints and embracing digital strategies, Forever 21 was going in the opposite direction with its extensive physical stores. This approach was contrary to the evolving trends in the industry, where retailers were looking to cut costs while still providing accessible brand experiences to consumers.

In the face of retail challenges, other brands were exploring innovative strategies, such as opening smaller pop-up shops and flagship stores to enhance the customer experience. This demonstrated a shift in the retail landscape, with businesses repositioning themselves to survive and adapt to changing consumer behaviors.

Insufficient Emphasis on Online Retail One of Forever 21’s significant missteps was their lack of focus on bolstering their e-commerce platform, despite their core customer base being young people who prefer shopping online.

In today’s retail landscape, digital presence has become crucial for survival, and most stores rely on it to thrive. For brands targeting younger consumers, digital is the driving force behind their business. Although Forever 21 claimed that 16% of their sales came from online channels, they seemingly missed the mark on realizing the potential of online retail.

Brands like ASOS or Fashion Nova, with their strong online presence, understood the preference of digitally-savvy customers who prefer to shop online, try on the items, and easily return them if needed.

While outdated retail businesses that ignore current trends are facing closures, completely dismissing the value of physical stores might not be entirely accurate. The key lies in paying attention to customers’ changing preferences and desires in this ever-evolving retail landscape.

The Shift to Sustainable Practices One of the most significant missteps made by Forever 21’s leadership was their failure to recognize a crucial shift in consumer attitudes towards fast fashion. The once successful business model thrived until the world woke up to the urgent realities of climate change.

As awareness of environmental issues grew, the fashion industry faced increasing scrutiny for its significant contribution to global carbon emissions and wastewater. Fast fashion, with its focus on synthetic fabrics and rapid production, shouldered much of the blame for these alarming statistics, as it generated enormous amounts of waste. The younger generation, in particular, took charge of the sustainability movement, demanding that businesses take responsibility for their environmental impact. Many former fast-fashion enthusiasts, once loyal to stores like Forever 21, abandoned them in favor of clothing that was more durable and eco-friendly, eschewing the throwaway culture associated with fast fashion. Young consumers are now much more conscious of sustainability issues and willing to invest in higher quality, longer-lasting clothing. The days of frequenting fast-fashion stores multiple times a year are waning, as Gen Zers prioritize brands that align with their values and demonstrate genuine commitment to sustainability.

To survive in this changing landscape, companies like Forever 21 need to integrate sustainability efforts into all aspects of their business, not just in their product offerings. It’s not enough to create sustainable collections; they must also reflect their values in marketing, messaging, and online engagement with customers.

Zara and H&M were commended for rolling out sustainable collections in response to this growing demand, showcasing the industry’s trend towards upcycling, recycling, and clothing rental as part of their commitment to sustainability. For Forever 21 and others, embracing sustainability is no longer an option but a necessity to stay relevant and appealing to the environmentally-conscious consumer base. "

To read the full article and view images  from the article, visit thebrandhopper. com

  - Source of the article:  thebrandhopper. com

- Video Source: CNBC

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[acosmiceducation]

The only financial product you need to know

If I had a dollar for every instagram post, Motley Fool article or personal finance “expert” who claimed to know which stocks to buy, what was hot and what you should get in on, I’d have enough money to give everyone reading this article enough money to retire right now. Picking individual stocks (if you intend to make money) is a very long arduous process. To be effective at it you need to understand the following about each stock you merely consider:

What type of business it is Profit to Earnings ratio (P/E) Earnings per share Past performance Current share price compared to past performance Past, current, and future plans for major dealings within the business A general understanding of the economy as a whole and how it relates to this stock Who is running the company and what does that mean for the future share price Staying up to date on daily news and trends …And ideally a lot more….

And even if you do that for every one of the thousands of publicly traded companies around the world you could still get it wrong and lose your money.

Let’s look at an example. Enron, the former energy giant:

This is a well-known case of a booming energy company where in the year 2000 brought in $101 billion in revenue! There were headlines everywhere telling investors to buy the stock. In March 2001 the stock was trading at $55/share. By October it was trading at $33/share and Wall Street was screaming “BUY”! On November 29th it was trading for a mere $0.36/share and Credit Suisse First Boston said to “hold”, it’ll go back up right?. But 3 days later the company filed for bankruptcy and that was it. All the money investors had in Enron was gone. It turns out for months they were fraudulently covering up their debts while publicly claiming their profits were great.

Don’t get me wrong, one of the fastest and most reliable ways to build insane amounts of wealth over time would be to put all your money in just a few companies that have huge potential. Just imagine if you put all your money into Apple in the 1980s, you’d be filthy stinking rich now, much richer if you had just put your money in an ETF, but we only know that now. If we put ourselves back in the 1980s it would have been almost impossible for you to have predicted how well Apple would have done. Steve Jobs was fired in the mid 80s and Apple had a very rough following decade. The company very well could have gone under meaning you would have lost all of your initial investment. Unless you are willing to risk losing all your money, I do not recommend this approach.

In fact, I made this mistake early on in my investing days. I was lured in by the headlines “Put $1000 in this stock to see your money increase 10x in the next decade”. “This is one stock I’m buying hand-over-fist this month”. “You’ll regret not buying this one energy stock now”. I get it, it’s sexy! Individual stocks have no management fees, and have the potential to earn you tons of cash. I mean, the next Tesla, or Apple, or Amazon is being publicly traded for dirt cheap right now. I just have no idea what the name of that company is, and looking for it is more likely going to be a waste of your time. But hey, if you want to spend hours, or even an entire career researching and picking the best stocks go right ahead, just know that it isn’t as easy as it sounds. There are tons of people already making a living doing that. They’re called Mutual Fund managers and how many of them consistently beat the market (the average return of the stock market)? It’s a ridiculously low number. Basically unless you’re ultra good at it like Warren Buffett or Ray Dalio, eventually you’re going to screw up.

But there is a solution! Honestly it is one of those things in life where it really is almost too-good-to-be-true. Enter the ETF.

Full article on my website! https://acosmiceducation.com/etfs/

[ailtrahq]

The upcoming Bitcoin (BTC) halving, which halves the reward miners earn for solving Bitcoin transaction blocks to 3.25 BTC, is historically a bullish event. Recently, several miners bought more powerful equipment to increase their chances of winning the BTC after the halving. But Bitcoin’s algorithm makes it more difficult to solve blocks the more machines come online. As a result, miners must expend more energy to qualify for a reward. Bitcoin difficulty | Source: Blockchain.com The verification process commenced the first time the Bitcoin network collected enough transactions to fill a block. Initially, a general-purpose computer could work out the hash of the block and earn a so-called block reward. As businesses bought more machines to increase their chances, the algorithm made solving blocks harder. A puzzle that off-the-shelf consumers could once solve later needed specialized computers made by a few companies.  The energy consumption of these purpose-built computers, called application-specific integrated circuits, or ASICs, raise miner operating expenses. Profits can rise with Bitcoin’s price, but the converse is also true, requiring miners to plan for the worst. The prolonged bear market in 2022 and 2023 saw several miners unable to service debt due to falling crypto prices. Some agreed to be acquired by bigger companies, while others diversified their businesses.  A few returned ASICs they pledged as collateral for loans they couldn’t afford. Some, like Core Scientific, filed for bankruptcy, as spiraling debts and falling Bitcoin prices forced a restructuring. But those who made it through are now looking to the next major event on the Bitcoin calendar: the 2024 halving. A Texas-based mining CEO, Didar Bekbauov, told BeInCrypto of strategies his company, Xive, and others are exploring to ensure they are prepared for any post-halving Bitcoin price reaction. How Bitcoin Rewards Keep Miners Well-Capitalized Riot Platforms and Marathon Digital, two of the five major public miners, survived the bear market in different ways. Riot Blockchain rebranded as Riot Platforms in January, after expanding to include equipment manufacturer ESS Metron. Read More: Best Crypto Mining Stocks to Buy or Watch Now In its most recent quarterly earnings report, Marathon Digital secured a 1% increase in additional equity financing from Bank of New York Mellon Corporation, while Private Advisor Group LLC raised its stake in the Bitcoin miner to $495 million. In Q3, the company increased its Bitcoin output to 1,242, a 245% increase from September last year. Riot, and another public miner, CleanSpark, produced 362 BTC and 642 BTC respectively last month, ending a quarter CleanSpark says exceeded expectations. Their output ensures these Bitcoin miners are well-capitalized and can continue operating in the event of a downturn. Capital accumulation, it turns out, is a core strategy some miners are using to survive decline, Bekbauov confirmed: “In addition to machines and facilities, big miners like Riot Platforms and Marathon also have some capital. On average, they’re keeping some Bitcoins and dollars, around $700 million, to survive if the Bitcoin price is low and the difficulty is high.”  BeInCrypto was not able to independently verify this number. Bekbauov also believes that larger companies are exploring the possibility of acquiring smaller miners who may not survive the bear market because of insufficient capital, inefficient ASICs, or unoptimized power-purchasing agreements (PPAs).  What role do power-purchasing agreements (PPAS) play in the profitability of mining companies? It turns out that PPAS reduce risk for power producers and consumers by pre-negotiating prices based on expected energy consumption. PPAs Also Keep Bitcoin Miners Well-Capitalized Texas lawmakers recently opposed power-purchasing agreements that Bitcoin miners have struck with the Energy Reliability Council of Texas (ERCOT), arguing it exploits an aging system. Under

the agreement, ERCOT pays miners for agreeing to switch off ASICs during periods of increased demand. For example, between midnight and 16:00. on June 23, 2023, Riot earned over $42,000 for just agreeing to turn off its equipment. In 2023, the company saved $27 million by switching off 99% of ASICs and a further $18 million by halting mining and selling electricity to other consumers. These revenues, coupled with $150 million-plus in Bitcoin earnings year-to-date, suggest Riot would survive the dual challenge of high Bitcoin difficulty and a low Bitcoin price. CleanSpark, which earned 6,904 Bitcoin in the fiscal year ending Sept. 30, is similarly well-capitalized. By comparison, New York’s stricter approach to energy usage has made power-purchasing agreements less attractive. Greenidge Generation Holdings, a miner that uses natural gas to power Bitcoin mining, amended plans to expand in multiple regions after the passage of a moratorium banned the renewal of permits to convert fossil-fuel plants to Bitcoin mining facilities. Kazakhstan, once a haven for cheap electricity following China’s mining ban, recently prohibited miners from using grid power that was not surplus. Miners’ peak consumption increased to more than 7% of the national demand, moving the grid from surplus into deficit and sparking mass protests. Stranded BTC.kz equipment | Source: MIT Technology Review The move forced several miners, such as Enix and BTC.kz, to abandon the region. In doing so they left behind mining equipment and one of the more lucrative power agreements anywhere in the world. ASICs Miners Need to Survive Halving Bear Market Miners pushing to weather the post-halving bear market also need state-of-the-art ASICs. Older machines are less energy-efficient and produce fewer block rewards per kilowatt-hour of energy consumption. Bitcoin infrastructure provider Blockstream recently bought a tranche of new mining rigs from Canaan, a Chinese equipment manufacturer. The company’s CEO, Adam Back, said they expect the halving to increase demand for these newer machines. Read more: The 7 Best Cryptocurrency Mining Hardware for 2023 In August, CleanSpark purchased 45,000 Antminer S19 XP Bitcoin mining machines, which are currently the most efficient on the market. According to Jaran Mellerud, a crypto mining analyst at Hashrate Index, machines must cost 6 cents per kilowatt-hour of energy for miners to break even. Miners with costs above 8 cents per kilowatt-hour will struggle to survive, even if the Bitcoin price remains the same after the halving. Wolfie Zhao, a researcher at mining consulting firm BlocksBridge, echoed a similar sentiment, “If you count in everything, the total cost for certain miners is well above Bitcoin’s currency price. Net profits will turn negative for many miners with less efficient operations.” Read more: How To Build a Mining Rig: A Step-by-Step Guide Alternatively, some miners can switch off some machines if Bitcoin’s price remains unchanged after the halving. This is a contingency Xive has already considered, Bekbauov said. ETF Flips Bear Halving Scenario for Bitcoin Miners But all the planning could turn more bullish if institutional Bitcoin investors get what they are looking for: a Bitcoin exchange-traded fund (ETF). While elusive for the most part, a spot fund could increase Bitcoin’s price to improve miner profitability and offset some of the halving’s bearish risks. BlackRock, Bitwise, Franklin Templeton, Fidelity, and several others have applied to launch Bitcoin ETFs. If approved by the US Securities and Exchange Commission (SEC), these ETFs could increase institutional demand for Bitcoin and help miners survive, according to Bekbauov. “BlackRock has $8 or $9 trillion of assets under management and many investors. If their application gets approved, it will allow many investors to invest in Bitcoin directly. Therefore, companies like BlackRock will need to have Bitcoins on their balance sheet. “They will buy these Bitcoins from the market even as the halving decreases supply.

If the demand goes up, then the price will go up. Any ETF approval can increase the demand for Bitcoin, so it’s a net positive.” Smaller miners can also leverage expertise in managing data centers to explore other revenue streams, Bekbauov adds. For example, miners can efficiently operate artificial intelligence (AI) data centers using the same heat management strategies they employ for Bitcoin data centers. Read more: How Will Artificial Intelligence (AI) Transform Crypto? However, unlike in Bitcoin mining, where the end-user is established, AI data centers must secure business before they are built and populated, the Xive CEO concluded. The Bitcoin halving will likely occur in the spring of 2024. Do you have something to say about how Bitcoin miners can survive a halving bear market, how to remain well-capitalized as a miner, or anything else? Please write to us or join the discussion on our Telegram channel. You can also catch us on TikTok, Facebook, or X (Twitter).

[the-daily-grind-newsletter]

In today’s newsletter:

Meta’s Threads is in shambles: Threads usage down by 80%

Zepto to a billion: Zepto becomes India’s first unicorn of 2023

S&P 500 earnings beat expectations

and a fudge ton more….

Lets get into some numbers and facts here:

Meta’s Threads rapidly gained one million users in hours, surpassing ChatGPT’s 5 days and Twitter’s year-long efforts.

Instagram’s Threads achieved 100 million sign-ups in 5 days, setting a next-gen app record.

Recent Similarweb report highlights user retention struggles for Threads.

Similar Web analyzed July 7 and August 7 data for daily active users and average time spent.

Threads’ Android app had 49.3 million daily active users on July 7, dropping to 576k by August 7.

Average time spent decreased from 21 minutes to 3 minutes.

In comparison, X platform has 100 million daily active users on Android, spending 25 minutes.

Threads launched on July 5 in over 100 countries, available on iOS and Android with a web version in progress. Similarweb report acknowledges potential future success for Threads but notes the decline.

Zepto, a quick-commerce startup, raised $200 million at a valuation of $1.4 billion, ending India’s 11-month unicorn drought.

The Series E round was led by the StepStone Group, a US asset management firm, and included Goodwater Capital and some existing investors. Zepto’s valuation jumped from $900 million in May 2022.

The funding is of particular importance because Zepto is the first unicorn, or startup valued at over $1 billion, to be minted in India this year. Molbio Diagnostics was the last to achieve unicorn status in September 2022.

Most of the capital from the previous round still sits in Zepto’s bank but the startup has raised more money to build its balance sheet ahead of going public in the first half of 2025, co-founder Aadit Palicha has said.

At the height of the funding boom in 2021, the country added a unicorn almost every week. As many as 44 startups entered the unicorn club in 2021 and 23 were added last year. Since then, investors tightened their purse strings and have been cherry-picking the startups they’re backing.

SNIPPETS

Affirm shares rocket 28% after better than expected results, and even tops apple. Here’s how the company did:

1.Loss per share: 69 cents vs. 85 cents as expected by analysts, according to Refinitiv.

2.Revenue: $446 million vs. $406 million as expected by analysts, according to Refinitiv.

Roark Capital Buys Subway For $9.6 billion.

WeWork is planning for bankruptcy. Once valued at $47 billion, WeWork is now worth nearly zero

DeFi’s total value is now down to $38 billion, its lowest level since the first quarter of 2021.

People are choosing T-bills over DeFi as the former now offers 5.5% risk-free, more than double when compared to DeFi. Plus, there’s no risk of smart contracts or exploits.

But, it’s not over for DeFi just yet because T-bills will not always continue to offer such a high return. Plus, some crypto platforms are working to match the rate.

COOL SHIT

The podcast of the day features Legendary Investor Bill Gurley, discussing Investing Rules, Insights from Jeff Bezos, Must-Read Books, and more on “The Tim Ferriss Show.”

More than one-third of desks globally sit empty all week long.

Check out this Reddit: r/fatFIRE. In this subreddit, they discuss wealth, finance, and strategies for retiring early.

A blog to figure out if entrepreneurship is right for you.

Check Donald Trump’s mugshot out:

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.

For more subscribe to:

[newfinancialbeginnings]

YOU NEED A PLAN! To have a New Financial Beginning, a plan is needed! Hiring an attorney, in particular our firm, gives you experience in various methods of starting your new clean slate and being freed from many of the heavy shackles of debt. Many people attempt to hold on as long as they can and refuse to get help out of pride or not knowing what to do. However, asking for help may be the smartest thing to due in times of uncertainty!

With a solid plan, consumers have the opportunity to take control and forge their own path regarding the debt, instead of being bullied around and on the receiving end of pressure. They can now have the control to begin again. But how is the average person supposed to know which tools to utilize and how to put together and execute a plan? THIS is where hiring a law firm would best come into play as not only does the law firm know the tools, they know how to use them optimally.

“I discovered that a fresh start is a process. A fresh start is a journey – a journey that requires a plan.” – Vivian Jokotade Nigerian-American author, speaker and thought leader on topics relating to women, business and leadership. A plan is critical and hiring a lawyer to guide you through the process of beginning fresh again allows you to do many things and utilize many tools. These tools include but are not limited to, a combination of monitoring your credit reporting, analyzing collection attempts, letters and the creditor reports for violations of law, allowing the attorney to negotiate debts and utilize debt settlement, bankruptcy and other debt reduction techniques. Each situation is unique as each consumer, while generally thrust into this situation, has their own circumstances that need review to determine the best step and to avoid future debt traps.

newfinancialbeginnings.com/

[autolovecraft]

Dusk fell and found Birch still toiling.

That was Darius Peck, the nonagenarian, whose grave was not far from the tomb. He had, indeed, made that coffin for Matthew Fenner; but had cast it aside at last as too awkward and flimsy, in a fit of curious sentimentality aroused by recalling how kindly and generous the little old man had been to him during his bankruptcy five years before. The tower at length finished, and his body responding with that maddening slowness from which one suffers when chased by the phantoms of nightmare. He could, he was sure, get out by midnight—though it is characteristic of him that this thought was untinged with eerie implications. His thinking processes, once so phlegmatic and logical, had become ineffaceably scarred; and it was pitiful to note his response to certain chance allusions such as Friday, Tomb, Coffin, and words of less obvious concatenation. I saw vindictiveness on any face—or former face. Birch still toiling.

Perhaps he screamed. He had not forgotten the criticism aroused when Hannah Bixby's relatives, wishing to transport her body to the cemetery in the city whither they had moved, found the casket of Judge Capwell beneath her headstone. He had, indeed, made that coffin for Matthew Fenner; but had cast it aside at last as too awkward and flimsy, in a fit of curious sentimentality aroused by recalling how kindly and generous the little old man had been to him during his bankruptcy five years before.

On the afternoon of Friday, April 15th, then, Birch set out for the tomb with horse and wagon to transfer the body of Matthew Fenner. Being without superstition, he did not care to imagine.

Undisturbed by oppressive reflections on the time, the place, and the source of a task whose performance deserved every possible stimulus.

He was just dizzy and careless enough to annoy his sensitive horse, which as he drew it viciously up at the tomb neighed and pawed and tossed its head, much as on that former occasion when the rain had vexed it. The pile of tools soon reached, and a hammer and chisel selected, Birch returned over the coffins to the door. When Dr. Davis left Birch that night he had taken a lantern and gone to the old receiving tomb. Over the door, however, the high, slit-like transom in the brick facade gave promise of possible enlargement to a diligent worker; hence upon this his eyes long rested as he racked his brains for means to reach it. He changed his business, but something always preyed upon him. An eye for an eye! You know what a fiend he was for revenge—how he ruined old Raymond thirty years after their boundary suit, and how he had been certain of it as the Fenner coffin in the dusk, and how he stepped on the puppy that snapped at him a succession of shuddering whispers that seared into the bewildered ears like the hissing of vitriol. Birch heeded this advice all the rest of his life till he told me his story; and when I saw the scars—ancient and whitened as they then were—I agreed that he was wise in so doing. He was merely crass of fiber and function—thoughtless, careless, and liquorish, as his easily avoidable accident proves, and without that modicum of imagination which holds the average citizen within certain limits fixed by taste. Over the door, however, no pursuer; for he was alone and alive when Armington, the lodge-keeper, answered his feeble clawing at the door.

He was the devil incarnate, Birch, but you got what you deserved. I still think he was not perfectly sober, he subsequently admitted; though he had not then taken to the wholesale drinking by which he later tried to forget certain things. Would the firm Fenner casket have caved in so readily? Finally he decided to lay a base of three parallel with the wall, to place upon this two layers of two each, and upon these a single box to serve as the platform. As he planned, he could not but wish that the units of his contemplated staircase had been more securely made. Another might not have relished the damp, odorous chamber with the eight carelessly placed coffins; but Birch in those days was insensitive, and was concerned only in getting the right coffin for the right grave. For the long-neglected latch was obviously broken, leaving the careless undertaker trapped in the vault, a victim of his own oversight. After a full two hours Dr. Davis left Birch that night he had taken a lantern and gone to the old receiving tomb.

Being without superstition, he did not care to imagine. Being without superstition, he did not care to imagine. An eye for an eye! He worked largely by feeling now, since newly gathered clouds hid the moon; and though progress was still slow, he felt heartened at the extent of his encroachments on the top and bottom of the aperture, he sought to pull himself up, when he noticed a queer retardation in the form of an apparent drag on both his ankles. In time the hole grew so large that he ventured to try his body in it now and then, shifting about so that the narrow ventilation funnel in the top ran through several feet of earth, making this direction utterly useless to consider. It was just as he had recognized old Matt's coffin that the door slammed to in the wind, leaving him in a dusk even deeper than before. The tower at length finished, and his hands shook as he dressed the mangled members; binding them as if he wished to get the wounds out of sight as quickly as possible. His questioning grew more than medically tense, and his hands shook as he dressed the mangled members; binding them as if he wished to get the wounds out of sight as quickly as possible.

It may have been just fear, and it may have been encouraging and to others may have been fear mixed with a queer belated sort of remorse for bygone crudities. Armington helped Birch to the outside of a spare bed and sent his little son Edwin for Dr. Davis. Neither did his old physician Dr. Davis, who died years ago. In another moment he knew fear for the first time that night; for struggle as he would, he could not shake clear of the unknown grasp which held his feet in relentless captivity. There was nothing like a ladder in the tomb. He was a bachelor, wholly without relatives. His drinking, of course, only aggravated what it was meant to alleviate. He would have given much for a lantern or bit of candle; but lacking these, bungled semi-sightlessly as best he might. This arrangement could be ascended with a minimum of awkwardness, and would furnish the desired height. Maddened by the sound, or by the stench which billowed forth even to the open air, the waiting horse gave a scream that was too frantic for a neigh, and plunged madly off through the night, the wagon rattling crazily behind it. Three coffin-heights, he reckoned, would permit him to reach the transom; but gathered his energies for a determined try.

The hungry horse was neighing repeatedly and almost uncannily, and he vaguely wished it would stop. I'd hate to have it aimed at me! In this twilight too, he began to compute how he might most stably use the eight to rear a scalable platform four deep.

Only the coffins themselves remained as potential stepping-stones, and as he considered these he speculated on the best mode of transporting them. It must have been midnight at least when Birch decided he could get through the transom, and in the crawl which followed his jarring thud on the damp ground. Three coffin-heights, he reckoned, would permit him to reach the transom; but he could do better with four. When Dr. Davis left, urging Birch to insist at all times that his wounds were caused entirely by loose nails and splintering wood. Fortunately the village was small and the death rate low, so that it was possible to give all of Birch's inanimate charges a temporary haven in the single antiquated receiving tomb.

Perhaps he screamed.

He could, he was sure, get out by midnight—though it is characteristic of him that this thought was untinged with eerie implications. But it would be well to say as little as could be said, and to use it when Asaph Sawyer died of a malignant fever.

[divorcelawyergunnisonutah]

How Can Individually Owned Businesses File For Bankruptcy?

How Long Do Chapter 11 Bankruptcies Last

Bankruptcy is a legal process overseen by federal bankruptcy courts. It’s designed to help individuals and businesses eliminate all or part of their debt or to help them repay a portion of what they owe. Bankruptcy may help you get relief from your debt, but it’s important to understand that declaring bankruptcy has a serious, long-term effect on your credit. Bankruptcy will remain on your credit report for 7-10 years, affecting your ability to open credit card accounts and get approved for loans with favorable rates.

Bankruptcy can be a complex process, and the average person probably isn’t equipped to go through it alone. Working with a bankruptcy attorney can help ensure your bankruptcy goes as smoothly as possible and complies with all the applicable rules and regulations governing bankruptcy proceedings. You’ll also have to meet some requirements before you can file for bankruptcy. You’ll need to demonstrate you can’t repay your debts and also complete credit counseling with a government-approved credit counselor. The counselor or an attorney will help you assess your finances, discuss possible alternatives to bankruptcy, and help you create a personal budget plan.

If you decide to move forward with bankruptcy proceedings, you’ll have to decide which type you’ll file. Chapter 7 or Chapter 13 types of bankruptcy can help you eliminate unsecured debt (such as credit cards), halt a foreclosure or repossession, and stop wage garnishments, utility shut-offs and debt collection actions. With both types, you’ll be expected to pay your own court costs and attorney fees. However, the two types of bankruptcy relieve debt in different ways.

Who Can File Chapter 7 Bankruptcy?

Both individuals and business entities can file for Chapter 7 bankruptcy. Small business owners have the option of filing Chapter 7 on behalf of their business or for themselves personally. If you’re a sole proprietor, both your business debt and your personal debt will be resolved in the same Chapter 7 bankruptcy case. Filing for Chapter 7 bankruptcy on behalf of the business doesn’t wipe out any debt whatsoever, however.

So many business owners choose to file an individual bankruptcy after a business closure because of the ability to erase the individual’s responsibility to pay a personal guarantee and other business debt.

What Type of Business Is It?

To know what will happen to your ownership interest in the company, you’ll start by looking at its formation. • Sole proprietorship: If you haven’t incorporated your business, you probably own it as a sole proprietor. You own the assets of the company, such as the vehicles, lawn and gardening equipment, customer lists, and the company’s debts are your debts. When you file a bankruptcy case, you will list all of the company’s assets and debts as your own. You’ll include your personal debts and assets, too. The trustee will sell all nonexempt assets that you can’t protect with bankruptcy exemptions and use the proceeds to pay business and personal debt. • Partnership: If you own your business with other people, but the business isn’t incorporated, you likely own it as a partnership. You’ll list all of your personal assets and the partnership itself as a business asset when filing for bankruptcy. As a caveat, filing bankruptcy when you own a partnership can affect all partners’ business and personal assets, even if they aren’t in bankruptcy. After selling the partnership property, the trustee will look to the personal assets of the business partners for payment of any remaining balances possibly even forcing the partners themselves into bankruptcy. • LLC or corporation: If your company is incorporated, you own interest in the company, not the company itself. You might own 100% of the stock or share ownership with other stockholders. Even if you own 100%, the company owns its assets and is liable for its debts. When you file a bankruptcy case, you will disclose the stock as your asset, not the company’s assets or liabilities. (If you’re separately liable on company debt as a co-borrower or guarantor, you’ll include that debt).

Protecting Assets

You can protect some of the property that you own from the reach of the bankruptcy court and your creditors using the property exemptions allowed by your state. In most states, there’s no specific exemption for corporate stock; however, you might be able to use a wildcard exemption that allows you to protect any property of your choosing. Not all states have a wildcard exemption However, you might be able to protect a portion of the company’s assets as tools of the trade, if that exemption category is available. This exemption covers a certain amount of property that you need in your trade or profession.

Remaining Value

In every Chapter 7 case, a bankruptcy trustee appointed by the court will carry out a duty to liquidate the assets that you can’t exempt, and then distribute the proceeds to your creditors who file valid claims. Sometimes an asset isn’t exempt, but its value is so small that liquidating it would be a burden. In other words, selling it wouldn’t recoup enough to be worthwhile. Another business may lose its value if you aren’t associated with it any longer. In general, the trustee won’t have much interest in a sole proprietorship except for the assets that can be sold. If the business is incorporated, the trustee will be more interested in selling the stock if the company’s value doesn’t depend on your continued involvement.

Speak With an Attorney

When you own your own business, filing for bankruptcy is even more complicated than usual. Not only do you need to understand what will happen to your company, but you’ll likely have to provide financial information for you and the company. To ensure you’re doing what’s best, consider hiring a bankruptcy attorney experienced in handling business-related cases who can help you evaluate what you stand to lose, as well as discuss any alternatives available.

Benefits of Chapter 7 Bankruptcy for Small Business Owners

If you are a sole proprietor, Chapter 7 allows you to wipe out both personal and business debts in a single bankruptcy case. If your business debt exceeds your personal debts, you won’t have to meet the income requirements of the Chapter 7 means test. Also, you can use bankruptcy exemptions to protect your personal and business assets. So, in some cases—for instance, if you have a service-oriented business that doesn’t need much in the way of equipment or inventory, you can continue to operate the business after wiping out business debts in bankruptcy. If, however, you can’t protect all of the property you need to run your business, the Chapter 7 trustee will sell the nonexempt property, which could put you out of business.

If your business is a corporation, or limited liability company (LLC), Chapter 7 bankruptcy provides a way to close down and liquidate your company in a transparent manner. When you file Chapter 7 on behalf of your business, it becomes the bankruptcy trustee’s responsibility to sell off the assets of the business and pay its creditors. Keep in mind that Chapter 7 is rarely a good idea for partnerships because of the risk of the trustee paying debt with the personal assets of the partners. Keep reading for more drawbacks.

Drawbacks of Chapter 7 Bankruptcy for Small Businesses

Unless you’re a sole proprietor filing bankruptcy, your business won’t receive a discharge of its debts in Chapter 7. So, if you’re somehow responsible for the business debt. For instance, you signed a personal guarantee; you’ll still be on the hook unless you file a personal Chapter 7 bankruptcy. Also, a business entity can’t use exemptions to protect assets in business bankruptcy. As a result, the trustee sells all of the business assets to pay creditors, and the business gets shut down. In most cases, a business owner can get a better price for the business assets, and thereby pay down a more significant share of the business debt. This will leave less debt to be paid by the owners. Plus, putting a business in bankruptcy opens the door for creditors to lodge objections or to claim that corporate formalities weren’t followed and that the members or shareholders should pay business debt with personal assets.

Who Can File for Chapter 13 Bankruptcy?

Only individuals can file for Chapter 13 bankruptcy. Business entities such as partnerships, corporations, or LLCs cannot do so. However, if you are a sole proprietor, you can file a personal Chapter 13 to reorganize your personal and business debts. And sometimes reorganizing personal debt is enough to help a business owner keep the company afloat. A bankruptcy attorney with business-related experience can help you determine the best overall strategy.

Advantages of Chapter 13 Bankruptcy for Small Business Owners

In Chapter 13, you get to keep all your assets and pay back all or a portion of your debts through a repayment plan. If you are a sole proprietor with a lot of business assets, a Chapter 7 trustee may sell them if you don’t have adequate bankruptcy exemptions to protect the property. By filing a Chapter 13, you can protect all business assets and keep the business running while reorganizing your debts. Keep in mind, however, that you must pay the value of nonexempt assets (property you can’t protect with bankruptcy exemptions) through your repayment plan, which can pose a problem if your ownership interest in the business is substantial. Even if your business is a separate entity like a partnership, corporation, or LLC, you can reorganize (and potentially wipe out) your personal liability for business debts with a Chapter 13. Further, you can do things with a Chapter 13 that you can’t in Chapter 7, such as: • catch up on a house, car, or equipment payment (any credit account wherein you used the property as collateral) • pay off priority creditors, such as tax debt and domestic support obligations, and • reduce some loans to the value of the property (called a “cram down”).

Disadvantages of Chapter 13 Bankruptcy for Small Business Owners

The first and foremost disadvantage to Chapter 13 is that business entities cannot file Chapter 13. Also, Chapter 13 takes much longer than Chapter 7 because you have to make monthly payments to a trustee for three to five years. If you have nonexempt assets property that you can’t protect with an exemption; you can keep the property, but you must pay an amount equal to its value to unsecured creditors which can increase your plan payments significantly. You might not have sufficient income to pay the required plan amount. Further, your discharge wipes out only your personal liability for business debts. The business itself will remain responsible for paying back its debts.

Bankruptcy Terms to Know As a Business Owner

Throughout bankruptcy proceedings as a business owner both individually or a cooperate owned business, you’ll likely come across some legal terms particular to bankruptcy proceedings that you’ll need to know. Here are some of the most common and important ones: • Bankruptcy trustee: This is the person or corporation, appointed by the bankruptcy court, to act on behalf of the creditors. He or she reviews the debtor’s petition, liquidates property under Chapter 7 filings, and distributes the proceeds to creditors. In Chapter 13 filings, the trustee also oversees the debtor’s repayment plan, receives payments from the debtor and disburses the money to creditors. • Credit counseling: Before you’ll be allowed to file for bankruptcy, you’ll need to meet either individually or in a group with a nonprofit budget and credit counseling agency. Once you’ve filed, you’ll also be required to complete a course in personal financial management before the bankruptcy can be discharged. Under certain circumstances, both requirements could be waived. • Discharged bankruptcy: When bankruptcy proceedings are complete, the bankruptcy is considered discharged. Under Chapter 7, this occurs after your assets have been sold and creditors paid. Under Chapter 13, it occurs when you’ve completed your repayment plan. • Exempt property: Although both types of bankruptcy may require you to sell assets to help repay creditors, some types of property may be exempt from sale. State law determines what a debtor may be allowed to keep, but generally items like work tools, a personal vehicle or equity in a primary residence may be exempted. • Lien: A legal action that allows a creditor to take, hold and sell a debtor’s real estate for security or repayment of a debt. • Liquidation: The sale of a debtor’s non-exempt property. The sale turns assets into liquid form cash which is then disbursed to creditors. • Means test: The Bankruptcy Code requires people who want to file Chapter 7 bankruptcy to demonstrate that they do not have the means to repay their debts. The requirement is intended to curtail abuse of the bankruptcy code. The test takes into account information such as income, assets, expenses and unsecured debt. If a debtor fails to pass the means test, their Chapter 7 bankruptcy may either be dismissed or converted into a Chapter 13 proceeding. • Reaffirmed account: Under Chapter 7 bankruptcy, you may agree to continue paying a debt that could be discharged in the proceedings. Reaffirming the account and your commitment to pay the debt is usually done to allow a debtor to keep a piece of collateral, such as a car, that would otherwise be seized as part of the bankruptcy proceedings. • Secured debt: Debt backed by reclaimable property. For example, your mortgage is backed by your home, and for an auto loan, the vehicle itself is the collateral. Creditors of secured debt have the right to seize the collateral if you default on the loan. • Unsecured debt: A debt for which the creditor holds no tangible collateral, such as credit cards.

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It’s not a matter of if, it’s a matter of when. Legal problems come to everyone. Whether it’s your son who gets in a car wreck, your uncle who loses his job and needs to file for bankruptcy, your sister’s brother who’s getting divorced, or a grandparent that passes away without a will -all of us have legal issues and questions that arise. So when you have a law question, call Ascent Law for your free consultation (801) 676-5506. We want to help you!

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[edubound]

Why study accounting in Canada? Top accounting courses in Canada

The most popular yet crucial course given in institutions across Canada is accounting. A number of the top universities in Canada offer accounting as a discipline, and foreign students love it. The top universities in Canada for international students are known for their exceptional academic success and post- graduation professional exposure. You can make about 43,546 CAD per year after finishing your accounting coursework in Canada.

Top Universities in Canada for Accounting

● University of Toronto ● McGill University ● University of British Columbia ● York University ● McMaster University

Why is Accounting the Most Popular Course amongst Overseas Students in Canada?

Outstanding Employment Possibilities Both domestic and foreign students who study accounting in Canada have great job prospects following graduation. Graduates in accounting in Canada make an average of 52,876 CAD per year.

Good Education By providing the greatest facilities, Canada’s top accounting colleges have differentiated themselves on a global scale. International students have access to excellent educational and employment possibilities in Canada.

Numerous Specializations and Course Options — Students can choose from a wide number of topics at the several accounting- focused universities in Canada, including administration, taxes, and more.

Types of courses in Canada related to accounting

Accounting courses in Canada are in high demand among international students since there are so many degree programs available, including UG, PG, and doctoral degrees, as well as certificate and diploma courses. Accounting programs with a range of specializations are also offered in Canada, including:

Taxation With a focus on computer competence and tax accounting, the Tax Accounting certificate program seeks to provide students with a fundamental accounting foundation. The course provides an overview of both individual and corporate taxation as well as the opportunity to do research and draft a business plan.

Forensic Accounting Specialists who investigate financial records to identify crimes and compile evidence that can be used in court are trained by degrees in forensic accounting. Future auditors improve their accounting and analytical skills in the classroom and learn to acquire data and assess outcomes using a variety of tools and methodologies. Forensic accountants tackle a variety of challenges, including corporate fraud, bankruptcy, and insolvency.

Professional Accountancy There is a 12-month graduate certificate program available for four-year degree holders who desire to advance their careers in accounting and quickly obtain the Chartered Professional Accountants (CPA) accreditation. Studying finance and management accounting, tax, information systems, audit, finance, and economics can help you concentrate on the analysis and interpretation of information and make ethically sound decisions.

You will be introduced to the modern company technological environment that uses spreadsheets (Excel), database software (Access), and integrated database application technologies (ERP) through exposure to an accounting software package (s). In addition, projects, case studies, and research will introduce you to the sector.

Banking There is a steady demand for banking and finance courses among students globally. Since money is involved in all industries, regardless of the one you want to work in, banking becomes a crucial part of every sector. This mobility, which enables graduates of banking courses to pursue a route in diverse sectors, is just one advantage of choosing finance as a career.

Business Administration Students who major in business administration learn how to utilise limited resources wisely in order to grow a business and produce money. International business schools offer business administration degrees that address project management, resource allocation (both human and financial), production and planning, decision- making, and compliance with organisational policies.

If famous business people like Elon Musk, Steve Jobs, or Bill Gates inspire you, you might want to study a little bit about everything while obtaining a general understanding of the industry. Then you ought to consider pursuing a business administration degree. Attending business school will teach you how to evaluate performance and potential gains using numbers.

Entrepreneurship Business executives who aren’t afraid to take chances and work on innovative ideas to increase the operational effectiveness of their firms and ensure the highest potential income may be found in the sector of entrepreneurship. Exploiting business possibilities, formulating and managing company plans, starting up businesses, leading by example, innovating, safeguarding intellectual property, utilizing the economy, networking, doing market research, etc. are all essential elements of entrepreneurship.

The principles of management and leadership, as well as communication techniques that will help them become skilled negotiators, are taught to students in entrepreneurship courses. When studying entrepreneurship, students discover how to apply their creativity and strategic thinking to create profitable business plans.

Entrepreneurship degrees involve both theoretical knowledge and practical skills. In this modern and dynamic industry, it is crucial to have a solid grasp of the current business environment, good people management abilities, and great sales capabilities. If you want to start a firm from scratch and have a brilliant business idea, entrepreneurship may be the right choice for you.

Graduates who are interested in starting their own business can choose from a number of job opportunities, including business manager/administrator, department manager for multiple companies or organizations, business or financial consultant, research developer, management analyst, franchisee, project manager, and more.

Data Analytics

Data analytics is a growing field with exciting job prospects. Data analytics allows businesses to improve performance and create accurate forecasts, which has increased its popularity recently. This training is made even more fascinating by Canada’s booming economy and the presence of global corporations. The salary range for a data analyst in Canada is from $51,532 to $93,267, with an average of about $68,249. To know more about studying accounting in Canada and making your journey hassle-free, contact us. Write to us at info@edubound.in.

[creditarmy]

Want to repair your credit score? Look no further than Credit Army! Our expert team of professionals can help you rebuild your credit and get back on track financially.

Want to repair your credit score? Look no further than Credit Army! Our expert team of professionals can help you rebuild your credit and get back on track financially.[caption id="attachment_3835" align="aligncenter" width="200"]

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