The Battle of Puebla is the true occasion for Cinco de Mayo rather than Mexican Independence Day, but Americans should celebrate just the same. Flickr photo.

The Battle of Puebla, which occurred on Cinco De Mayo, has been co-opted by corporate America as a marketing opportunity to sell tequila and Mexican-style food. Americans have been conditioned to believe that May 5  is Mexican Independence Day, and celebrate by taking shots and eating enchiladas. But in a way May 5 is more about debt repair than drinking cocktails. Mexicans in the state of Puebla celebrate Cinco de Mayo history as the date of the Battle of Puebla in 1862. Out-manned and outgunned, Mexican forces defeated a French army sent by Napoleon III. The Battle of Puebla has become a symbol of freedom and liberty for Mexicans.

Battle of Puebla history

If Americans really knew about the Battle of Puebla history, they would be celebrating Cinco de Mayo by expressing gratitude toward Mexico, instead of wearing funny hats and speaking Spanglish. Mexican Independence Day is not May 5, but September 16 — the day Mexico’s 10-year Independence War with Spain started in 1810.

The truth about the Battle of Puebla

Fast forward to the Battle of Puebla on Cinco de Mayo in 1862, The United States was in the middle of its Civil War. Mexico had been celebrating Mexican Independence day since 1810. But the country was still broke after a war with the United States in 1848, when it lost California and New Mexico (a vast territory that now includes Arizona, Nevada, Wyoming and Utah). The Mexican government owed France a ton of money. France thought the United States, with its expanding territory and military, was a threat. Napoleon III saw the Civil War as an opportunity to defuse that threat.

Battle of Puebla background

The Battle of Puebla on May 5, 1862, occurred because Napoleon III of France sent troops to Mexico under the ruse of collecting the debt. What he really wanted to do is defeat the Mexicans and have a force in place to aid the Army of the Confederacy. By ensuring that the United States would be split in two, Napoleon believed that France could hold sway over two weakened nations in North America, instead of having to deal with a single powerful one.

French defeated at Battle of Puebla

The Battle of Puebla on Cinco de Mayo 1862 pitted a ragtag Mexican force against the French Army, considered the baddest military force in the world at the time. Puebla was attacked by 6,000 French troops led by a cocky general who had no respect for the Mexicans. Not only did the Mexicans stand their ground, they chased the French all the way to the coast and defeated them.

Cinco de Mayo: reason to celebrate

The French weren’t completely ousted from Mexico until 1867, but the Battle of Puebla on Cinco de Mayo was pivotal in preserving Mexican independence. The French Army’s defeat at the Battle of Puebla on Cinco de Mayo in 1862 also prevented Napoleon III from aiding the Confederates. The Mexican army may have played a key role in helping Abraham Lincoln win the civil war and preserve the Union. A deed worthy of a toast when Americans knock back the tequila on Cinco de Mayo.

Sources: pbs.org, wikipedia.com

Greece has serious debt. As seen here, the state of the economy has bowled this Grecian woman over. (Photo: Flickr)

Greece is in debt, and its people are rioting in the streets. Fitch recently downgraded the nation’s credit rating to BBB-, which is among the lowest scores available. The European Union has promised that it will try to help Greece with debt repair, but it will take a massive amount of aid for Greece to be able to close its financial sinkholes. Sky News Online reports that while Greece will have to borrow in order to cover its 8.5 billion-euro debt – which comes to maturity on May 19 – Greece’s national debt now bares the albatross of junk status. Hence, those who hold 10-year Greek sovereign bonds are demanding more than a 10 percent interest rate of return from Greece’s government. That’s the highest ever recorded in the eurozone, according to Sky News.

Greece debt equals junk and high risk to investors

As a result of the junk rating applied to the Greece debt and the application of the debt to Greek bonds, Sky News states that “big investors such as pension funds will no longer be allowed to buy the country’s debt.” Shrinking options couldn’t come at a worse time for Greece, as its debt status places it in the same credit bracket as Colombia, Romania and Azerbaijan. Greek citizens are waging protests daily, as job seekers assemble outside the finance ministry in desperation. Economists like Koen De Leus of KBC Securities tell Sky News that if a solution for how to handle Greece’s debt isn’t in place soon, the entire European market will be dragged down. The euro is already down to a new one-year low against the dollar, while stock markets across the European Union have dropped significantly. The ripples even dropped the Dow Jones by 200 points yesterday.

Finance minister says Greece will pay debt ‘absolutely and without any doubt’

Instilling investor confidence is always important, but not everyone believes Grecian Finance Minister George Papaconstantinou’s optimism that Greece will cover debt by the May 19 deadline. Britain’s  Chancellor of the Exchequer Alistair Darling said in a joint meeting of the International Monetary Fund, European Central Bank and other financial organizations that it is “absolutely essential” that the problem of the Greece debt be handled “quickly, effectively and decisively.” Payday loans will play a role, but the amount of money Greece requires necessitates significant aid from the entire European Union.

(Photo Credit: http://www.flickr.com/photos/runran/ / CC BY-SA 2.0)

Related Video:

CenturyTel made a bid for Qwest valued at 22 billion, one of the biggest deals in telecom history. Flickr photo.

CenturyTel and Qwest announced plans for CenturyTel to buy Qwest in a $10.6 billion stock swap instead of cash now. The deal will be one of the biggest telecommunications deals in history if it goes through. The combination of CenturyTel, Inc., the fifth largest local phone company, and Qwest Communications, the third largest, creates a more competitive entity in a shrinking landline market. However, CenturyTel Qwest would still be a minnow among the telecom sharks AT&T and Verizon, companies that are stronger by having both landline and wireless businesses.

CenturyTel Qwest debt consolidation

It its agreement to buy Qwest, CenturyTel, formerly known as Centurylink, will take over $11.8 billion in Qwest debt, making the merger worth about $22.4 billion, one of the biggest deals in telecom history. The new company will be based at CenturyTel’s headquarters in Monroe, La. Qwest’s current headquarters is in Denver. Both companies have been shedding jobs and the Denver Business Journal said that analysts expect more job cuts as CenturyTel and Qwest consolidate operations.

CenturyTel Qwest: bigger fish in shrinking pond

Qwest provides land line service in 14 primarily Western states. Financial maneuvers during the Internet boom, including an ill-fated attempt to outbid Verizon for MCI, left Qwest in need of debt repair, making it vulnerable to purchase, even though it is larger than CenturyTel. U.S. landlines are shrinking by about 10 percent per year as consumers rely more on cellphones and cable. Neither Qwest nor CenturyTel own wireless networks that compensate for the loss of landlines, as AT&T and Verizon do. The CenturyTel Qwest merger is intended to make the combined company stronger as a business telecom provider and expand its consumer broadband business.

CenturyTel Qwest deal breaker?

The CenturyTel/Qwest deal has complications. Levi & Korsinky LLP, a law firm specializing in representing victims of securities fraud and other forms of financial malfeasance, is investigating the board of directors of Qwest, according to a press release from BusinessWire published Thursday at marketwatch.com. Levi & Korsinsky suspects that the deal may unlawfully harm Qwest stockholders in connection with the Qwest board’s effort to sell to CenturyTel, Inc. The investigation concerns whether the Qwest board failed to adequately shop Qwest before making the deal, and that CenturyTel may be underpaying for Qwest shares.

CenturyTel Qwest shareholder details

When the deal closes, CenturyTel shareholders will own about 50 percent of the new company, and Qwest shareholders will own about 49.5 percent of the company. Qwest stockholders will get 0.1664 shares of CenturyTel for every Qwest share they now own. Based on the CenturyTel closing price Wednesday of $5.24, Qwest shareholders will get per-share consideration equivalent to $6.02 of CenturyTel stock.

China has experienced two major earthquakes in the last three years. Image from Wikimedia.

At 7:49 a.m. local time in China, earthquake today killed more than 400 people and injured more than 10,000 people. The Qinghai Earthquake started with a 6.9 shake, and was followed by aftershocks that clocked in at 5.3 and 5.8. The China earthquake today hit a Tibetan area in the south of Qinghai province. After last year’s 7.9 earthquake disaster, the China earthquake today further hinders the debt repair of these poverty-stricken regions in China.

Qinghai China earthquake today

In the Qinghai earthquake, more than 90  percent of the houses and buildings in the local area toppled with the first major Qinghai earthquake. The China earthquake today also toppled a vocational school where students are trapped and buried. China has dispatched rescuers, tents, food and supplies to help the victims of the Qinghai earthquake, but the damaged roads, airports and communications systems are hindering rescue efforts. Many countries are already stepping up with offers of fast cash loans, aid, and relief workers.

Map of China earthquake

The China earthquake today was centered in the township of Jiegu, in the county of Yushu. The area is mountainous and rural, with a population of mostly farmers, sheepherders and tradespeople. The largest nearby city is Qamdo, Tibet.

Strength of China earthquake today

The Qinghai earthquake is being reported as two different magnitudes. The US Geological Service is reporting that the quake measured as 6.9 magnitude on the Richter scale. However, agencies in China map the earthquake as 7.1 magnitude. There have been 18 aftershocks thus far, two of which have been over 5 on the richer scale.

Large earthquakes causing significant damage

Just two years ago, a large China earthquake hit just 800 kilometers away from today’s Qinghai earthquake. That earthquake left over five million homeless and 87,000 people dead or missing. Just in the last three months, Haiti, Chile, Taiwan, Northern Mexico, and Indonesia have seen significant earthquakes. The major activity is mostly reported as being a part of natural earthquake cycles. However, this China earthquake today is re-igniting fears of large earthquakes in other areas of the world.

Sources:

The Associated Press at dspdDB0WaMv_An4A-NvHB_DwmCwD9F2NQ5G0
Mapreport at http://www.mapreport.com/subtopics/d/e.html#m0

The Loch Ness Monster is among the most famous hoaxes of all time. (Photo: Wikipedia)

It pays to be prepared when April Fools Day comes along, which means that you must be up on your history of the Top 10 April Fools pranks ever. Keep in mind that you might need payday loans to duplicate things on that scale. Without further ado, and straight from the Museum of Hoaxes, here are the Top 10 April Fools pranks in convenient, bite-sized form. Chomp ‘em, ’cause you got ‘em. And if you missed part one of this article – April Fools pranks you can easily play at home or work – CLICK HERE.

The Top 10 April Fools pranks, for your consideration

1. Swiss Spaghetti Harvest – Let’s start this Top 10 April Fools pranks list in tasty style. In 1957, the BBC convinced gullible Brits that the Swiss were growing spaghetti on trees.
2. Sidd Finch – Better known as Hayden “Sidd” (short for Siddhartha) Finch, this George Plimpton creation actually had baseball fans going for a while in 1985. (See video below.) “He’s a pitcher, part yogi and part recluse. Impressively liberated from our opulent life-style, Sidd’s deciding about yoga — and his future in baseball.” Oh, and he could throw a 168 mph fastball with pinpoint control. No sweat.
3. San Serriffe – Again, let’s laugh at those gullible Britons, circa 1977. The Guardian convinced thousands that this small republic that consisted of “several semi-colon-shaped islands located in the Indian Ocean” actually existed.  ”Its two main islands were named Upper Caisse and Lower Caisse,” and the capital city of Bodoni fell under the leadership of… wait for it… General Pica. If you believe that, I have some Zapf Dingbats to sell you.
4. Alabama Changes Pi – To the “Biblical value” of 3.0, of course. Because 3.14159 is an affront to all that’s holy.
5. Burger King’s left-handed Whopper – This began as an ad campaign and prompted about 90 percent of the population to ask for the right-handed version.
6. Nessie’s body – Yorkshire’s Flamingo Park Zoo claimed it had found the 15 -and-a-half-foot carcass, but it was really a bull elephant seal. A pranking zoologist shaved the whiskers off the dead body, stuffed the cheeks with stones and dumped it back in Loch Ness so that the public could discover the wonder.
7. Brassieres fuzz TV and radio reception – In 1982, The Daily Mail (yes, back to the UK) claimed 10,000 “rogue bras” were on the market with copper underwire that supposedly created enough static electricity when it came into contact with nylon and body heat that it threw local TV and radio signals for a loop. The chief engineer of British Telecom immediately used this as an excuse to grill his female employees about their type of bra.
8. Man flies by lung power – The New York Times printed a photo in 1934 of a man flying with help from a device that allegedly was powered by his breath. Supposedly that mighty wind spun rotors that created powerful suction. This kept him aloft – and proved that Americans don’t know much about physics. Perhaps they’re in such great need of debt repair that they can’t afford college, or at least some books about how airplanes work.
9. Whistling carrots – A British supermarket called Tesco claimed it had developed a genetically modified form of carrot that whistled. Ads claimed that the carrots grew with tapered air holes that produced a whistling sound when the vegetable was fully cooked.
10. Friends don’t let friends surf the Web drunk – John Dvorak of PC Computing magazine convinced readers in 1994 that Congress had passed a bill making it illegal to use the World Wide Web while drunk, or to discuss sexual matters on public networks. The first clue should have been the bill number (SB 040194 … 04/01/94), the second the name of the contact: Lirpa Sloof (April Fools backwards). It might be in bad taste to mention this now, but Sen. Ted Kennedy’s office received a great deal of mail on this one.

(Photo Credit: http://www.flickr.com/photos/restedtraveler/ / CC BY-SA 2.0)

Related Video:

Michael Steele, on the right, has faced criticism for his spending. Image from Flickr.

Michael Steele, the head of the Republican National Committee, is continuing his high-flying, high-publicity controversy today with accusations of RNC money being spent on exotic dancers, private jets and gourmet catering. Just last month, Michael Steele faced accusations of over-spending the RNC budget on swank restaurants and private consultants. Today, Jonathan Strong of the Daily Caller posted his reading of the RNC federal disclosure records. Among other things, the Republican federal disclosure reveals that the RNC paid for an almost $2,000 trip to Voyeur West Hollywood — a “bondage-themed nightclub featuring topless dancers.” The debt repair for the Republican Party may take a while; Michael Steele has spent $109.6 million of the RNC’s money, while his fund raising efforts have brought in $96.2 million.

Voyeur West Hollywood may not have seen Michael Steele

Though Michael Steele is the head of the RNC and was in Los Angeles at the time of the Voyeur West Hollywood charge, the Republican National Committee is disputing that he actually visited the strip club. In the line immediately before the Voyeur West Hollywood charge, the Republican federal disclosure contains a matching payment to Erik Brown, who is a Republican direct mail consultant. No matter whether Michael Steele actually attended the event where $1,946.25 worth of “meals” were charged at Voyeur West Hollywood, as the RNC Chairman he had to approve the expense. The Republican National Committee is launching an internal investigation and requesting that the strip club reimbursement be returned to the RNC coffers.

Michael Steele’s other RNC expenditures

In addition to the $1,946.25 spent at the West Hollywood strip club, Michael Steele has been the head of the Republican National Committee during many other disputed expenses. A fund raising trip in California included a $9,099 bill at the Beverly Hills Hotel and $6,596 spent at the Four Seasons. Michael Steele has also used $17,514 worth of private planes and $12,691 worth of private vehicles in February. The Republican National Committee has responded to these allegations by saying that these expenditures are guaranteed loans – necessary for bringing in the high-dollar donations that the RNC relies on to fund their political activities.

Michael Steele angering some Republican National Committee Members

Michael Steele has been the head of the Republican National Committee since January of 2009. One large Republican party contributor was quoted saying Michael Steel “fancies himself a presidential candidate and wants all of the trappings and gets them by using other people’s money.” Michael Steele has also faced serious criticism for spending RNC money on high-end catering from Wolfgang Puck where previous heads of the RNC used Chic-fil-A. In April of 2009, the Republican National Committee passed a new rule that any checks from the Republican National Committee be signed by two officers.

If Michael Steele was present at the Voyeur West Hollywood dance club or not, the RNC federal disclosure makes it clear that the Republican National Committee is spending more money than it is taking in. At a time of economic downturn, many American Republicans are beginning to question if the Republican National Committee is spending fund raising dollars wisely.

Sources:
The Washington Post
The Baltimore Sun
Newsweek / The Gaggle

ITMN's drugs are currently under FDA review. Image from Flickr.

This morning, IterMune stocks (on the New York Stock Exchange as ITMN) rose over 60%. This was a result of the FDA annoucing it would be reviewing ITMN’s drug application for their new drug Esbriet (pirfenidone). The FDA has expressed concerns over this particular drug, however, so I wouldn’t yet recommend taking out personal installment loans just to buy this stock – at least, not yet.

ITMN drug treats lung problems

The new drug from ITMN that the FDA will be reviewing is intended to treat idiopathic pulmonary fibrosis. This is a condition where a person’s lungs (pulmonary system) develops thick, heavy scarring (fibrosis). Idiopathic cases are simply cases that have no known cause. Learn more about the disease ITMN’s new drug is intended to treat on the Mayo Clinic website or on Google Health. If the drug ITMN developed is approved, it would be the first and only treatment intended for this deadly disease.

ITMN dodges a bullet of criticism – so far

When the FDA announced that InterMune’s drug would be take up for review, the outlook was not entirely rosy. While the commentary was rather critical, it was still better than industry watchers and ITMN officials had expected – which is why ITMN stocks jumped so quickly this morning. A large part of the criticism, as pointed out by Bloomburg News was based on the fact that the drug actually failed in one of the two studies intended to test the ITMN drug’s effectiveness.

The future of ITMN looks good

While ITMN has a very long and stressful week ahead of it, the outlook for this company is fairly good. Currently, ITMN has only one approved drug – Actimmune – which treats rare congenital disorders. However, on ITMN’s website they list several more drugs in development, including second-generation HIV treatments. Business Week also points out that the drug ITMN is hoping to get approved by the FDA was approved for use in Japan in October of 2008. Their stock has had some fairly severe ups and downs, though if they can successfully use this drug to make progress on their debt repair, they will be in a good financial position for future earnings.

Once mostly known for its mac and cheese, Kraft is now the world's largest candy company. Image from Flickr.

Kraft’s bid to buy Cadbury wasn’t a walk in the park. In the beginning, some doubted that Kraft could take over Cadbury, even after Kraft sold its pizza division to Nestle. However, it appears Cadbury was simply waiting for the right offer.

Media are calling it an “about face,” as Kraft originally planned a hostile takeover of Cadbury. Now, Cadbury has accepted Kraft’s $19.5 billion offer. Many groups are against Kraft buying Cadbury, for reasons ranging from Kraft’s need for debt repair to fear of Cadbury employees losing jobs.

The Kraft empire, Cadbury included

Now that Cadbury has agreed to the deal, Kraft is the world’s largest candy company. The Cadbury name and the company’s other brands will remain the same, but for some groups, that’s not enough of a concession prize.

“This is a very sad day for U.K. manufacturing. A successful, iconic, independent U.K. brand will now be owned by a giant company with massive debt,” said Jennie Formby of the United Union, which had campaigned against Kraft’s offer.

The deal contains no guarantees that Kraft will not switch manufacturing operations, say unions involved. They say this could cost thousands of British jobs.

Company projections

Now that Kraft bought Cadbury, the company owns more than 40 confectionery brands, including Oreo, Toblerone, Dentyne and Dairy Milk chocolates. Each of the 40 brands has annual sales of more than $100 million.

Though groups opposed to the sale expressed concern that Kraft was further exacerbating its extensive debt by spending $20 billion on Cadbury, Kraft’s head executives were quick to express confidence about the future of the company. Kraft CEO Irene Rosenfeld said the deal provides “both immediate value certainty and upside potential.”

“We have great respect for Cadbury’s brands, heritage and people,” Rosenfeld said. “We believe they will thrive as part of Kraft Foods.”

Success Key Number One

Surround yourself with successful people.

Accept that financial freedom is possible. Many cannot imagine going through debt repair, being debt free or possessing the freedom to design one’s own lifestyle by having access to a healthy cash flow. Therefore, the first step in achieving financial freedom involves believing that such a thing exists.

Success Key Number Two

Accept that financial freedom is attainable for everyone. Billionaires are ordinary human beings, and if they can achieve financial independence, this means that other ordinary human beings can, too. Yet, far too often, people are convinced that financial freedom is an ideal reserved for the enjoyment of select individuals. It is counterproductive for anyone who longs for financial freedom to believe that it is attainable by an elite few, but not for everyone.

Success Key Number Three

Provide a needed service or create a product that will be helpful to others. Know the difference between the things that people want and the things or services they actually need. If someone else is already filling these needs, determine ways in which those services or products can be improved upon. The person that is able to offer these at the best price is the one who will achieve financial freedom faster and sustain that freedom much longer than most others.

Success Key Number Four

An education is key. Whether an education is formally attained or a person is self-educated, one of the most important keys to financial freedom involves moving beyond knowing the basics of one’s niche service or product. This success key to financial freedom actually requires going beyond the fundamentals in order to field valid questions or concerns and address them using superior knowledge. Doing so makes presentations more productive and helps to pave a path to financial freedom.

Success Key Number Five

Routinely exceed expectations. When asked to do A, B or C, make a habit of going beyond these measures to provide D, E and F. In other words, go an extra mile or two for customers. Doing so helps in standing out against competition, increases reputation and attracts greater public loyalty. Each of these translates into higher revenues, which contributes to financial freedom.

Success Key Number Six

Become an expert. No matter how many professionals exist within a niche, few will ever stand out as true experts. Professionals know how to do a job, but experts strive to be at the top of their game. This is true when it comes to being the most educated within their niche, earning the trust of other professionals and endeavoring to inspire other individuals along the way.

Experts are widely recognized by their peers as those who work hard to stay a step ahead of the rest. They are the best of the best. This is not because they are competitive egomaniacs, but because they genuinely believe that what they have to offer is helpful and necessary. It is no wonder that those who experience the financial freedom that others dream of are also the top experts within their selected professions.

Success Key Number Seven

Destroy distractions. During working hours, do not allow anything short of a life and death emergency distract from projects that must be completed. Also, during personal hours, minimize time spent with mindless activities, such as endless hours of television and activities that have no real purpose. Instead, spend this time on productive activities that contribute to good health, build mental stamina and focus on mind/body renewal efforts. Avoiding useless distractions means avoiding things that drain energy and take one’s mind off of the target of financial freedom.

Success Key Number Eight

Create an inner circle of positive, focused individuals who also seek financial freedom. There’s an old adage, which explains that people are only as successful as their five closest friends. Another says that, “birds of a feather flock together.” The wisdom in both of these thoughts imply that one’s inner circle will directly impact their success. Therefore, make an effort to befriend those who have made a positive effort to adopt these wisdom keys to financial freedom and who may have a few extra to share along the way.

Success Key Number Nine

Reach out to a mentor. Target one or two experts who are willing to sacrifice a few minutes by phone, email or face-to-face at regular intervals. The mentor should be approached with the understanding that you won’t require a lot of her or his time. Instead, even if only a few minutes can be spared, the time will be helpful in reporting goals, progress and identifying areas that need to be improved. While it can be frightening to think of approaching someone to request a mentor, it should be noted that most people are flattered to be asked to share their wisdom and eager to contribute to someone’s life in such a way.