Financial Blog

Cal financial director named UW finance, administration vice chancellor

The head of financial planning and analysis at the University of California-Berkeley has been named the vice chancellor for finance and administration at UW-Madison.

Laurent Heller will be coming to campus August 15, taking over for interim vice chancellor Michael Lehman, who has served in that capacity since March, when Darrell Bazzell retired.

I am deeply honored to have this opportunity to contribute to what is obviously a special community of dedicated faculty, staff and students at UW-Madison. I look forward to working with the community to advance the Wisconsin Idea in the years ahead.

Kenneth Petersen, Financial Planning: Celebrities' bad example

Local estate-planning attorney Kyle Krasa has an informative blog. Here is a condensed recent post I know you will enjoy:

After music legend Prince died last month, it was revealed that he did not have an estate plan. The repercussions from his decision to neglect his estate planning are starting to become clear. His estate will have to be administered through the Minnesota probate court. His estate will be divided among his #x201c;intestate heirs,#x201d; those individuals who are most closely related to him by blood as determined by Minnesota statute. This may or may not be what Prince would have wanted if he had chosen to take control of his estate plan. Furthermore, although Prince did not have any surviving children that he publically acknowledged, reports have indicated that at least one person claims to be his son and therefore entitled to the entire $300 million fortune. The probate court will have to sort out this situation which will involve excessive time and expense.

Although fellow musician Amy Winehouse was divorced at the time of her death, her friends indicate that she still had strong feelings for her ex-husband, that they were #x201c;soulmates,#x201d; and that she would have wanted him to inherit from her. However, because she did not leave a will or trust, he was not included as an heir of her estate.

Country singer John Denver failed to name a beneficiary on his pension plan. As a result, upon his death, his retirement plans were required to be cashed out within a short period of time which accelerated substantial tax unnecessarily.

Rock and roll legend Elvis Presley has 73 percent of his estate eaten up in taxes due to poor tax planning. His heirs were forced to sell many of his memorabilia in order to create liquidity to pay the taxes which were due to the IRS soon after his death.

Cordozar Calvin Broadus Jr., otherwise known as #x201c;Snoop Dogg,#x201d; had some colorful comments when asked whether he had an estate plan in place in the wake of Prince#x2019;s death. To paraphrase in a more genteel manner, Snoop Dogg said that it was of no concern to him as to what happens to his money after he dies. He went on to say that he hopes to be reincarnated. #x201c;Hopefully, I#x2019;m a butterfly. I come back and fly around and look at all these [fools] fighting over my money.#x201d;

Snoop Dogg is at least 50 percent correct: if he does not leave a comprehensive estate plan, there will be people fighting over his estate. As to whether he will be able to come back as a butterfly to observe the turmoil from above, that is unknowable. In any event, I have never written a #x201c;reincarnate-me-as-a-butterfly#x201d; clause into an estate planning instrument and that certainly would not be an effective, legally-binging instruction.

The choice is clear. If you don#x2019;t care whether you leave a mess for your loved ones upon your death and you plan to gleefully observe the chaos from above through metempsychosis, then you probably do not need to establish an estate plan. However, if you want to take charge of your estate to ensure that everything you have will be distributed to everyone you love in the most efficient manner possible, you should make an appointment to consult a competent attorney to help you avoid problems.

Midwest Energy Emissions Corp. Adds Canadian Financial Planning Specialist to Board of Directors

LEWIS CENTER, OH--(Marketwired - June 09, 2016) - Midwest Energy Emissions Corp. (OTCQB: MEEC) (ME2C or the Company), an emerging leader in mercury emissions control technology for the global coal-power industry, is pleased to announce that Allan T. Grantham, CPCA, CEA, CFP, TEP, Founder and President of Atlas Estate Planning Services Limited, Halifax, Nova Scotia, Canada, has joined the Companys Board of Directors.

Mr. Grantham has served as President of Atlas since July 2003. The company specializes in personal and corporate estate planning services. Mr. Grantham, who has been in the life insurance industry since 1978, has concentrated in the estate, tax, and financial planning areas since 1983. Mr. Grantham and his wife are actively involved in various charitable organizations, both Canadian-based and internationally, including creating Friends of Haiti, which raises funds for projects and children in Haiti and is administered through Chalice Canada, a charity which provides nutrition, education, and shelter to children and the elderly in various developing countries.

Chris Greenberg, Chairman of the Board of Directors, commented, Allan is an important addition to ME2Cs Board of Directors as we continue to prepare for significant growth this fiscal year. His financial planning expertise and knowledge gained from years of experience working with top Halifax professionals gives him a unique perspective in working with our team. His integrity and focus will be a great asset to the ME2C board and its shareholders and we are excited to welcome him on board.

About Midwest Energy Emissions Corp. (ME2C)
Midwest Energy Emissions Corp. (OTCQB: MEEC) delivers patented and proprietary solutions to the global coal-power industry to remove mercury from power plant emissions, providing performance guarantees, and leading-edge emissions services. The US Environmental Protection Agency (EPA) MATS rule, which has been subject to legal challenges which continue, requires that all coal- and oil-fired power plants in the US, larger than 25 mega-watts, must remove roughly 90% of mercury from their emissions starting April 15, 2015. ME2C has developed patented technology and proprietary products that have been shown to achieve mercury removal levels compliant with MATS at a significantly lower cost and with less operational impact than currently used methods, while preserving the marketability of fly-ash for beneficial use. For more information, please visit

Safe Harbor Statement
With the exception of historical information contained in this press release, content herein may contain forward-looking statements that are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on managements current expectations and are subject to uncertainty and changes in circumstances. Investors are cautioned that forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from the statements made. Matters that may cause actual results to differ materially from those in the forward-looking statements include, among other factors, the gain or loss of a major customer, additional or new EPA regulations affecting coal-burning utilities, disruption in supply of materials, a significant change in general economic conditions in any of the regions where our customer utilities might experience significant changes in electric demand, a significant disruption in the supply of coal to our customer units, the loss of key management personnel, failure to obtain adequate working capital to execute the business plan and any major litigation regarding the Company. In addition, this release contains time-sensitive information that reflects managements best analysis only as of the date of this release. The Company does not undertake any obligation to publicly update or revise any forward-looking statements to reflect future events, information or circumstances that arise after the date of this release. Further information concerning issues that could materially affect financial performance related to forward-looking statements contained in this release can be found in the Companys periodic filings with the Securities and Exchange Commission.

Home budgeting is financial planning

Morris Mpala, MoB Capital Ltd
THE word budgeting is mostly associated with companies or when one is searching for a loan. Many think of the budget when it is the Minister of Finance doing it for the country.

This shows our disregard for planning. Even companies rarely do it right. It is then too much to ask for the home front let alone individuals to do it.

But how does one spend their earnings recklessly without accounting for them even if it's their money or without knowing where it's going to come from.

There is a need to understand the profit and loss account of the home or individual and that way one gets to know for planning purposes.

That way remedies can be found. It could be either you make more money or cut your expenses or simultaneously doing both.

Budgeting is an excellent planning tool to manage your financial resources and time. If money did grow on trees or came from a bottomless pit won't we all be a marvelous people as we would be doing as we please.

Unfortunately it is a finite resource that needs careful use.

There is a need to track where you are spending your money on. Your expenses, which you don't understand, could ruin you in the long run.

Budgeting assists in your financial well being. Knowing your financial status helps you live a healthy financial life. It is a cultured way of leading one's life and is a prudent approach to managing finances. It makes you anticipate challenges and avoid them.

If one can't budget their personal finances how then do we expect them to handle companies or country for that matter. Charity should be resident at home first before it is exported without the home. If personally you are in financial turmoil how do we trust you with bigger finances?

Budgeting is not just listing items and folding your arms. Listen to your figures because they do talk and have tales to tell. A dollar or cent on the budget sheet has a meaning and symbolizes a certain lifestyle. If it's not pointing to a financial healthy tendency then stop it before it's too late.

Financial planning helps avoid unnecessary expenditures, which are a source of perennial headaches. Surely if you don't know where you are going, then any road will lead you there eventually. In money matters that destination is ruinous. Without planning you will succumb to peer pressure as you derive satisfaction from approval from your colleagues without much deliberation on your own personal circumstances.

The tired and old adage "failing to plan is really planning to fail" still applies. Once a budget is done then stick to it. Run with it to the best of your ability. Why budget if you can't follow your plans. Where there is a deviation remedy accordingly in this case by making the money for the expenditure. Strict budgets are the preserve of the prosperous. Cash budgeting has also helped in that you only spend what you have made.
Popularly it's called eating what you kill and avoid feasting like you killed an elephant when all you gathered was an ant. Never at any time spend money you don't have or are going to earn in the future.

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