#AceFinanceNews – CALIFORNIA – October 09 – No wonder Coke and Pepsi are spending millions of dollars to fight proposed taxes on sugary drinks in California.
PepsiCo reported a higher quarterly profit Thursday as global sales rose, but one weak spot was Mexico.
The company said snacks sales volume declined by 3 percent, hurt by a new tax on junk foods.
Recent declines suffered by Pepsi and Coke in Mexico underscore why the beverage industry is fighting tax proposals on sugary drinks in in San Francisco and nearby Berkeley.
PepsiCo – which makes Frito-Lay chips, Gatorade and Tropicana – reported similar declines in its snacks business for the first half of the year, starting when the tax went into effect.
Coca-Cola, which reports its third quarter results Oct. 21, has also reported beverage volume declines in Mexico for the first half of the year, citing a similar tax on drinks.
Mexico has the world’s highest per capita consumption of Coca-Cola drinks.
#AceFinanceNews – UNITED STATES (California) – July 10 – A bill that would require California reverse mortgage lenders to provide certain disclosures to prospective borrowers during the application process is moving forward in the state’s legislature as it awaits a Senate vote.
Sponsored by Assemblyman Jose Medina (D-CA), AB 1700 aims to amend certain sections of California’s Civil Code relating to reverse mortgages.
Specifically, the bill would implement a seven day cooling off period, prohibiting a lender from taking a reverse mortgage application or assessing any fees until one week from the date of loan counselling.
Additionally, the bill would delete the requirement that the lender provide a written check-list and would, instead, prohibit a lender from taking the loan application unless the applicant has received from the lender a specified reverse mortgage worksheet guide.
The bill would require that the guide contain certain issues that the borrower is advised to consider and discuss with a HUD-approved housing counsellor, as well as requiring both the counsellor and the prospective borrower to sign the worksheet guide prior to closing.
“ These requirements seek to ensure that senior citizens will make informed decisions and that persons who offer, sell, or arrange the sale of reverse mortgages to senior citizens will act in the best interest of reverse mortgage loan borrowers,” states Section 1 of California’s Civil Code.
#AceFinanceNews – CALIFORNIA – June 04 – California residents have voted for a plan to spend $600 million to build houses for homeless veterans.
The state has the highest number of ex-servicemen without a roof in the US – about 25 percent, or 19,000 homeless veterans.
After voters backed the plan in a primary election on Tuesday, the state will sell bonds to build apartments and temporary shelters for qualifying veterans or those recovering from physical injuries or mental health issues, Reuters reported.
The reason why Syria could be the best thing that happens to the US and how the oily-garchs will benefit, also protect Saudi Arabia and secure your future, dam the people dying! You do not need to look any further than this saying:
When the Lamb opened the third seal, I heard the third living creature say, "Come and see!" I looked, and there before me was a black horse! Its rider was holding a pair of scales in his hand. Then I heard what sounded like a voice among the four living creatures, saying, "A quart of wheat for a day’s wages, and three quarts of barley for a day’s wages, and do not damage the oil and the wine!"