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Summary
In an 11 page opinion published May 18, 2011, Judge Shannon ruled that, in the context of a motion to dismiss, the officer of a corporation, which is itself a contractor, is not also a contractor by virtue of her position within the corporation. Judge Shannon’s opinion is available here (the “Opinion”).

Background

Donna K. Brady (the “Debtor”) was the principal officer of DK Brady Excavating, Inc. (“DKBE”). As such, she personally guaranteed a credit agreement on behalf of DKBE with Tri Supply and Equipment, Inc. (the ”Plaintiff”). She eventually de

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One thing about people in the United States: even though we’re knee-deep in a depression, with bankruptcy cases to the right of us and the left of us, we’re looking hard for the next business niche that promises brisk business.

On the one hand, it’s made me a little nervous that Costco has been selling lots of survival food (did everyone get the memo but me?) to people who are concerned that our just-in-time inventory system is especially bad at handling disruptions.

But a recent news article told me that we would, as a country, go down swinging, and maybe even survive.

This story takes a moment for the set-up, but it’s worth the wait.

See, the vast majority of folks in the United States are Christians of some flavor or another, according to the CIA Factbook. Read more…

Encore Capital Group, a San Diego based debt portfolio buyer and its subsidiaries Midland Funding LLC and Midland Credit Management Inc., are being sued by the Minnesota AG for alleged robo signing of court affidavits.

According to Minnesota Attorney General Lori Swanson, “Midland has perverted the justice system by filing robo-signed affidavits in court and hounding citizens for debt they don’t owe.”

The lawsuit, filed in Hennepin County, Minnesota, reportedly includes testimony from Midland employees that some had signed as many as 400 affidavits a day without reading through them.

Minnesota’s action follows an Ohio Judge’s ruling that cleared the way for the lawsuit to proceed.  The Judge ruled that Minnesota’s cases would not interfere with a previously filed $5.2 million class action against these giants of the debt collection agency industry. The lawsuit

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Index funds, are a type of mutual fund, and they are a pretty simple concept in the world of investments. In an index fund, stocks are grouped together from companies included within an index, for instance the S&P 500 or the Dow Jones Industrial Average. The percentage of stock is kept the same as the indexes themselves in an attempt to copy the index. While it’s a rather basic concept, it’s one that for many has proven to work over time.

The Dow Jones Industrial Average (DIJA) is a price weighted index of 30 of the largest, most widely held stocks traded on the New York Stock Exchange. Read more…

As of July 21, 2011, a new agency will be joining the Federal Trade Commission to help investigate the growing number or complaints regarding debt collectors violating the Fair Debt Collection Practices Act. (FDCPA)

This new consumer protection, federal watchdog agency will be named the Consumer Financial Protection Bureau, and was created by a law enacted last year. A

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If you are like many other consumers in the US, you’ve got a facebook page. And, if you are like many other consumers  in the US, you’ve got debt. Put the two together and now Creditors and Debt Collectors have found one more way to reach out to you in an effort to collect on money owed.

The Federal Fair Debt Collections Practices Act, the law that protects consumers from debt collector harassment, was enacted long before social media or the internet. Thus

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Newspaper obituaries notify a large number of people in a short period of time about the death of a community member. Unfortunately, they also provide a list of potential victims to scam artists and thieves seeking emotionally vulnerable and, during memorial services, physically absent targets.

In the pain and confusion following a spouse’s death, you can’t be expected to remember websites and phone numbers for organizations that help uncover the unscrupulous. Read more…