Zero 2 Rich

Investing to One Million Dollars or Bust!

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“Ebbers will be left with money to pay legal bills and a modest living allowance for his wife”, the government said in a news release.

Please define modest? Screw the wife! Let her get a job down at McDonalds! She already has benefitted from the money the Ebbers stole! Chances are Ebbers already moved money around before his assets were frozen. There are probably millions of dollars hidden away in numbered bank accounts in Switzerland.
Rot in prison Bernie Ebbers! I hope you enjoy your new boyfriends!

Yesterday was a pretty up day in the market. My company’s stock shot up on positive earnings. While it was up $2.50, I exercised stock options for 200 shares that will bring about $4200. It was a cashless exercise. I still have options for about 800 shares. The options will expire in a little over a year, so I plan on exercising them over time since I don’t know where the high or lows will be. If I had waited a little yesterday, the stock was up over $3.50 a share. But of course I didn’t know that would happen. It could have just as easily have dropped. It has a P/E in the upper 30s, and hasn’t done much over the last 5 years. So would I buy the stock? Not seriously. I have $25 per pay period going into a stock purchase plan, but that’s it these days. They said they will mail me a check on Friday. I will probably use it to max my Roth IRA, and maybe open one for my wife. I should be getting a disbursment from my mom’s thrift plan later this week, or early next week as well. I do need to save some money to have some work done on our house as well, to have a small roof leak looked at (it has only happened during hard heavy blowing rain, but still…)

I had some extra money after paying bills, and I had another free transaction to use for the month. So I decided to buy some stock. The 3pm window was coming up, so I had to make a decision quickly. Well I really didn’t have to…I could have bought stock tomorrow. But since I was going to add to a stock I already owned, I wasn’t that concerned. I thought about Advance Auto Parts (AAP) or Lowes (LOW). I decided to buy $250 worth of the Lowes (LOW) since it had a lower PEG (due to both a lower P/E and a higher growth estimate). My AAP has gone up more since I bought it, but the Lowes hasn’t done much at this point, but it is due. It is a solid growing company.

I bought shares of Primewest Energy (PWI), a Canadian energy trust back in April. They pay a hefty dividend. First they pay monthly, and the annual yield is currently 13.32%. NICE! I got a dividend back in May, and then got one this month. My reports had been showing 10.649 chares, but then today, I noticed myAvaergage Purchase Price was zeroed out, and I only had 10.559 shares. I looked at the transaction history, and there were a bunch of dividend credits and debits in there. I called the help desk, and found out they double credited my dividend on the 15th. So yesterday, they apparently manually went in, back out both dividends, and credited me one, or something like that any way. It’s all very confusing. But it seems to add up. Glad I don’t need to tally it all for my tax records as it is in my Roth IRA. It would be a pain trying to figure out my cost basis!

According to a recent Supreme Court decision, government (including local government) can seize my property by eminent domain for whatever reason they see fit. It is one thing if they want to build a highway, or a school, but now if they think a shopping center, or a hotel might be good there, they can seize my land and sell it to the developer. So if some developer decides he want to build something where your property is, and he has friends on the local town board, or city council or whatever, he can get your property and there is nothing you can do about it. Is this a scary thought or what?
Here is what Justice John Paul Stevens wrote: “The city has carefully formulated an economic development that it believes will provide appreciable benefits to the community, including — but by no means limited to — new jobs and increased tax revenue.” He was joined by Justice Anthony Kennedy, David H. Souter, Ruth Bader Ginsburg and Stephen G. Breyer.
Dissenting were Justice Sandra Day O’Connor, Chief Justice William H. Rehnquist, Justice Antonin Scalia and Justice Clarence Thomas.
Frankly it doesn’t sound like JUSTICE to me!

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