AUBURN HILLS, Mich., April 26, 2012 /PRNewswire via COMTEX/ –
Chrysler Group net income in the first quarter of 2012 more than quadrupled to $473 million

Net revenue for the quarter was $16.4 billion, up 25 percent from $13.1 billion a year ago

Modified Operating Profit(a) grew to $740 million for the first quarter, 55 percent higher than a year earlier

Free Cash Flow(d) for the first quarter totaled $1.7 billion; Cash(c) ended the quarter at $11.3 billion compared with $9.9 billion a year ago and $9.6 billion at Dec. 31, 2011

Net Industrial Debt(e) was reduced to $1.3 billion at March 31, 2012, from $3.4 billion a year ago and $2.9 billion at Dec. 31, 2011

Worldwide vehicle shipments were 607,000 in the quarter, up 25 percent from 485,000 a year ago

Worldwide vehicle sales for the first quarter totaled 523,000, up 33 percent from a year ago

U.S. market share increased to 11.2 percent for the first quarter, up from 9.2 percent a year ago, driven primarily by a 40 percent increase in U.S. retail sales. For the first time in its history, Chrysler was the quarterly market leader in Canada with a share of 15.0 percent

Chrysler Group achieved its third and final Class B performance event in January 2012 by committing to produce the fuel-efficient Dodge Dart, increasing Fiat S.p.A.’s ownership interest to 58.5 percent

Chrysler Group LLC today reported preliminary net income of $473 million for the first quarter of 2012, up more than 300 percent from $116 million a year ago, driven primarily by its 40 percent increase in U.S. retail sales.

“Another positive quarter – built on sales gains that have surpassed the industry average – is affirmation that the Chrysler team is maintaining its focus,” said Sergio Marchionne, Chairman and Chief Executive Officer of Chrysler Group LLC. “We continue to deliver on the targets in our five-year plan and are now focused on successfully launching the Dodge Dart, a car that is a true melding of Chrysler’s and Fiat’s engineering and styling strengths.”

CHRYSLER GROUP LLC
($Mils) Q1 Q1 2012
2012 2011 B/(W)
2011
Net Revenue 16,359 13,124 3,235
Modified Operating Profit 740 477 263
Modified EBITDA 1,384 1,171 213
Net Income 473 116 357
Cash 11,256 9,877 1,379

Note - Refer to page 4 of this press release for definitions of Non-U.S. GAAP
Financial Information and Other Items

Revenue for the quarter was $16.4 billion, up 25 percent from $13.1 billion in the first quarter of 2011, driven by a 25 percent period-over-period increase in shipments and positive pricing.

The Company reported a Modified Operating Profit of $740 million, or 4.5 percent of revenue, in the first quarter, up 55 percent from the $477 million reported in the prior year. The increase was attributable to strong volume and pricing, partially offset by unfavorable mix, higher industrial costs, including new vehicle content enhancements and engineering, research and development for new models, and continued marketing efforts.

Modified EBITDA(b) was $1.4 billion in the first quarter, or 8.5 percent of net revenue, an increase of 18 percent versus the prior year.

Interest expense for the quarter totaled $277 million, including $31 million of non-cash interest accretion, versus $348 million in the first quarter of 2011, including non-cash interest accretion of $58 million. The reduction of $71 million primarily reflects interest savings achieved as a result of the Company's debt refinancing transaction completed in May 2011.

Cash as of March 31, 2012, increased to $11.3 billion from $9.6 billion as of Dec. 31, 2011, and $9.9 billion as of March 31, 2011. Total available liquidity as of March 31, 2012, totaled $12.6 billion, including $1.3 billion available under a revolving credit facility. Free Cash Flow totaled a positive $1.7 billion for the first quarter of 2012, primarily reflecting the improved operating performance and favorable working capital.

Gross Industrial Debt(e) at March 31, 2012, totaled $12.6 billion, substantially in-line with the $12.5 billion at Dec. 31, 2011, and lower than the $13.3 billion at March 31, 2011. The increase in cash reduced Net Industrial Debt to $1.3 billion at the end of the quarter, a decrease of $1.6 billion and $2.0 billion from Dec. 31, 2011, and March 31, 2011, respectively.

Worldwide vehicle shipments for the quarter were 607,000, including 33,000 of contract manufactured vehicles, an increase of 25 percent from the first quarter of 2011 when 485,000 vehicles were shipped.

Worldwide vehicle sales were 523,000 for the first quarter, up 33 percent from 394,000 vehicles sold in the first quarter of 2011, driven primarily by a 40 percent increase in the Company's U.S. retail sales. Chrysler Group's March 2012 U.S. sales reflected the 10th consecutive month of sales gains of at least 20 percent. The improvement reflects increased consumer confidence in our product portfolio, including the Chrysler 300, named one of Kelley Blue Book's kbb.com "10 Best Family Cars of 2012," and the 2012 Jeep Grand Cherokee and Jeep Wrangler, which have garnered 20 awards so far this year. Chrysler Group's U.S. market share increased to 11.2 percent for the quarter from 9.2 percent one year ago. Chrysler Group was the market leader in Canada for the first quarter in its history, with a market share of 15.0 percent.

U.S. dealers' days supply of inventory at the end of March 2012, was 59 days, lower than the 64 days at the end of December 2011, and 67 days at the end of March 2011.

International vehicle sales (outside North America) for the quarter increased 80 percent from the first quarter 2011, to 67,000, including 18,000 vehicles manufactured by Chrysler Group and sold by Fiat.

2012 Guidance

The targets for 2012 are confirmed as follows:

Worldwide vehicle shipments of 2.3-2.4 million

Net revenue of ~ $65 billion

Modified Operating Profit of greater than or equal to $3.0 billion

Net income of ~ $1.5 billion

Free Cash Flow of greater than or equal to $1 billion

Significant Corporate Events in 2012

Jan. 5: Chrysler Group announced it had achieved the last of the three Class B performance events set forth in its Amended and Restated LLC Operating Agreement, by committing to produce a U.S.-manufactured vehicle based on a Fiat platform or vehicle technology that has a verified unadjusted combined fuel economy of at least 40 mpg. The vehicle, the Dodge Dart, will be built at the Belvidere (Ill) Assembly Plant. As a result, and in combination with other transactions, Fiat S.p.A. now owns 58.5 percent of the membership interests in Chrysler Group.

Jan. 5: Chrysler Group strengthened its ties with the city of Detroit, announcing it will add a third crew and 1,100 new jobs at its Jefferson North Assembly Plant in Detroit. Further, the Jeep Grand Cherokee lineup will be expanded with a diesel version for North America which will be built at the Jefferson North Assembly Plant.

Jan. 24: Chrysler Group dedicated its new World Class Manufacturing (WCM) Academy in Warren, Mich., to transfer its WCM knowledge to more than 1,200 participants each year and cultivate an enriched culture of continuous improvement and learning.

Feb. 2: Chrysler Group announced the addition of 1,800 jobs at the Belvidere (Ill.) Assembly Plant, confirming the addition of a third crew at the plant that will produce the new Dodge Dart.

April 4: Chrysler Group and Fiat S.p.A. published their first combined sustainability report, highlighting a 10 percent reduction in total 2011 CO2 emissions per vehicle produced, and an 18.5 percent decrease in water consumption per vehicle produced at Fiat Group Automobiles and Chrysler Group assembly and stamping plants as compared with 2010 levels.

April 9: Chrysler Group announced that its Dundee (Mich.) Engine Plant and Windsor (Ont.) Assembly Plant were awarded bronze status for their efforts implementing WCM; it is the highest ranking of any of the Company's North American manufacturing facilities.

April 25: Chrysler Group gave notice to Ally Financial, Inc. that it will not renew its current "Auto Finance Operating Agreement" following the April 30, 2013, expiration. Under the agreement, Chrysler Group was obliged to give Ally at least twelve months' notice that it did not intend to renew the agreement. Chrysler Group is in discussions with Ally and other financial institutions regarding various options to meet the financing needs of Chrysler Group dealers and customers.

Product News

All-new Dodge Dart and Chrysler 300 luxury series named to "Ward's 10 Best Interiors" List for 2012

Vanity Fair Magazine included the 2013 Dodge Dart on its "Seven Hottest New Cars at the 2012 NAIAS"

Travel and Leisure Magazine named the 2012 Fiat 500 the "2012 Best Car" in its Design Awards

AutoTrader.com named the 2013 Dodge Dart and 2012 Dodge Journey to its list of "Eight Great American Cars to Spend a Tax Refund On"

Kelley Blue Book included the 2013 Dodge Dart on its "Top 10 Cars of the 2012 Detroit Auto Show" and named the new Chrysler 300 one of the kbb.com "10 Best Family Cars of 2012"

The 2012 Jeep Grand Cherokee SRT8 and Dodge Charger are among Winding Road's "Best Cars of the Year"

The 2012 Chrysler Town & Country won the Detroit News "Reader's Choice-Best Family Vehicle" and TotalCarScore.com named the minivan to its list of "Best Family Cars for Road Trips"

The Rocky Mountain Press Association named the 2012 Jeep Grand Cherokee its "2012 SUV of the Year" and the New England Motor Press Association named it the "Official Winter Vehicle of New England"

The National Highway Traffic Safety Administration awarded the 2012 Chrysler 300 and Dodge Charger 5-star vehicle safety scores

Chrysler Group's 3.6-liter DOHC Pentastar V-6 engine was named to Ward's AutoWorld's list of "10 Best Engines"

Additional Information

The Company will present its preliminary first-quarter 2012 financial results during an analyst webcast and conference call at 10 a.m. Eastern Daylight Time on April 26, 2012, at
www.chryslergroupllc.com . A recording of the call will be posted on the same Chrysler Group website about 90 minutes after the conclusion of the call.

The Company intends to publish financial statements for the quarter ended March 31, 2012, prepared in accordance with U.S. GAAP, in May 2012, when it plans to file its Quarterly Report on Form 10-Q with the U.S. Securities and Exchange Commission (SEC).

Effective May 24, 2011, and in accordance with IFRS, Fiat S.p.A. was required to consolidate Chrysler Group's IFRS financial results in its consolidated financial statements. Certain preliminary Chrysler Group financial results prepared in accordance with IFRS will be included in the Fiat S.p.A. earnings release, which will be available on the Investor Relations tab of the Fiat S.p.A. website on or after April 26, 2012 (
http://www.fiatspa.com/en-US/investor_relations/investors/Pages/investors.aspx ).

Non-U.S. GAAP Financial Information and Other Items

(a) Modified Operating Profit (Loss) is computed starting with net income (loss) and then adjusting the amount to (i) add back income tax expense and exclude income tax benefits, (ii) add back net interest expense (excluding interest expense related to financing activities associated with a vehicle lease portfolio the Company refers to as Gold Key Lease), (iii) add back all pension, other postretirement benefit obligations (OPEB) and other employee benefit costs other than service costs, (iv) add back restructuring expense and exclude restructuring income, (v) add back other financial expense, (vi) add back losses and exclude gains due to cumulative change in accounting principles, and (vii) add back certain other costs, charges and expenses. The reconciliation of net income to Modified Operating Profit and Modified EBITDA (defined below) for the three months ended March 31, 2012 and 2011, is detailed in Table 1 of the attachment to the press release.

(b) Modified EBITDA is computed starting with net income (loss) adjusted to Modified Operating Profit (Loss) as described above, and then add back depreciation and amortization expense (excluding depreciation and amortization expense for vehicles held for lease). The reconciliation of net income to Modified Operating Profit (defined above) and Modified EBITDA for the three months ended March 31, 2012 and 2011, is detailed in Table 1 of the attachment to the press release.

(c) Cash is defined as cash and cash equivalents.

(d) Free Cash Flow is defined as cash flows from operating and investing activities, excluding any debt related investing activities, adjusted for financing activities related to Gold Key Lease financing. A reconciliation of net cash provided by (used in) operating and investing activities to Free Cash Flow for the three months ended March 31, 2012 and 2011, is detailed in Table 2 of the attachment to the press release.

(e) A reconciliation of financial liabilities to Gross Industrial Debt and Net Industrial Debt at March 31, 2012, and Dec. 31, 2011, is detailed in Table 3 of the attachment to the press release.

Forward-Looking Statements

This document contains forward-looking statements that reflect management's current views with respect to future events. The words "anticipate," "assume," "believe," "estimate," "expect," "intend," "may," "plan," "project," "should" and similar expressions identify forward-looking statements. Such statements are subject to risks and uncertainties, including, but not limited to: the effective implementation of the Chrysler Group LLC 2010 - 2014 Business Plan outlined on November 4, 2009, including successful vehicle launches; industry SAAR levels; continued economic weakness, especially in North America, including continued high unemployment levels and limited availability of affordably priced financing for our dealers and consumers; introduction of competing products and competitive pressures which may limit our ability to reduce sales incentives; supply disruptions resulting from natural disasters and other events impacting our supply chain; and our ability to realize benefits from our industrial alliance with Fiat. If any of these or other risks and uncertainties occur, or if the assumptions underlying any of these statements prove incorrect, then actual results may be materially different from those expressed or implied by such statements. We do not intend or assume any obligation to update any forward-looking statement, which speaks only as of the date on which it is made. Further details of potential risks that may affect Chrysler Group are described in Chrysler Group's Annual Report on Form 10-K and its subsequent periodic reports filed with the SEC.

About Chrysler Group LLC

Chrysler Group LLC, formed in 2009 to establish a global strategic alliance with Fiat S.p.A., produces Chrysler, Jeep, Dodge, Ram, Mopar, SRT and Fiat vehicles and products. With the resources, technology and worldwide distribution network required to compete on a global scale, the alliance builds on Chrysler Group's culture of innovation, first established by Walter P. Chrysler in 1925, and Fiat's complementary technology that dates back to its founding in 1899. Headquartered in Auburn Hills, Mich., Chrysler Group's product lineup features some of the world's most recognizable vehicles, including the Chrysler 300 and Town & Country, Jeep Wrangler, all-new Dodge Dart, Ram 1500, Jeep Grand Cherokee SRT8 and Fiat 500. Fiat contributes world-class technology, platforms and powertrains for small- and medium-size cars, allowing Chrysler Group to offer an expanded product line including environmentally friendly vehicles.

Attachment

These financial results are presented on a preliminary basis and will be superseded by the financial results included in Chrysler Group's Quarterly Report on Form 10-Q to be filed for the period ended March 31, 2012.

Table 1: Reconciliation of Net Income to Modified Operating Profit and Modified EBITDA

CHRYSLER GROUP LLC
($Mils) Q1 Q1
2012 2011
Net Income 473 116
Add (Deduct):
Income Tax Expense 33 44
Net Interest Expense 267 337
Other Employee Benefit Gains \1 (21) (37)
Restructuring (Income) Expenses, Net & Other (12) 17
Modified Operating Profit 740 477
Add:
Depreciation and Amortization Expense \2 644 694
Modified EBITDA 1,384 1,171
\1 Represents interest cost and expected return on plan assets
\2 Excludes depreciation and amortization expense for vehicles held for lease

Table 2: Reconciliation of Net Cash Provided By (Used In) Operating and Investing Activities to Free Cash Flow

CHRYSLER GROUP LLC
($Mils) Q1 Q1
2012 2011
Net Cash Provided By Operating Activities 2,604 3,117
Net Cash Used In Investing Activities (884) (154)
Investing activities excluded from Free Cash
Flow:
Change in Loans and Notes Receivable - (3)
Financing activities included in Free Cash
Flow:
Repayments of Gold Key Lease Financing (20) (434)
Free Cash Flow 1,700 2,526

Table 3: Reconciliation of Financial Liabilities to Gross Industrial Debt and Net Industrial Debt

CHRYSLER GROUP LLC
($Mils) Mar. 31, Dec. 31,
2012 2011
Financial Liabilities 12,613 12,574
Less: Gold Key Lease obligations (21) (41)
Gross Industrial Debt 12,592 12,533
Less: Cash (11,256) (9,601)
Net Industrial Debt 1,336 2,932

SOURCE Chrysler Group LLC

Copyright (C) 2012 PR Newswire. All rights reserved

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By Andrea Coombes, MarketWatch

SAN FRANCISCO (MarketWatch) — Who wouldn’t want to pay “pennies on the dollar” to settle their tax debt?

That appealing prospect has long been touted in late-night television ads and on billboards, with the smiling faces of self-professed tax experts hawking their tax-resolution services. But in the past 12 months, three well-known firms — TaxMasters, JK Harris and Roni L. Deutch — shut down.

Click to Play

When
can tax cheats breathe easy?

Maybe
you failed to report all of your income, or you have money stashed
overseas. The IRS may be able to come after you even years from now,
WSJ’s Laura Saunders reports. Photo: Bloomberg.

o Taxes: Are you paying your fair share?

2012 tax guide

o Taxes: Your last-minute filing guide

o Your April tax to-do list

o 7 tax audit red flags

o Tax credits you don’t want to miss

o Tax planning? Good luck with that

o The hidden traps in new 2012 tax forms

o You can file your tax return for free

o Tax deductions: Enjoy them while you can

o Five top online tax-prep sites

o Tax mines that could blow up your return

more tax tips

o Can’t pay your bill? You have options

o Tax-debt relief firms pay the price

o Tax rules for paying family for care

o Do you need a tax pro?

o Investors, prepare for cost-basis headache

o Tax-time confusion over capital gains

o New tax deadline this year

o
MarketWatch Tax Guide

/conga/personal-finance/taxes_seo.html
203727

Trouble is, paying less than you owe to the IRS generally is too good to be true.

In civil lawsuits filed against the firms, authorities said some customers were promised help with their tax debt but after forking over thousands of dollars, those customers found no relief.

“I’ve represented clients who paid large sums of money to each of those companies and were disgruntled with the services they received,” said Robert McKenzie, a partner in the Chicago-based law firm Arnstein & Lehr.

He said that in some cases the firms charged initial fees of $4,000 and higher. “If you get very little service from that payment, it’s not a good deal.”

In March, a Texas jury ordered TaxMasters and its founder and chief executive Patrick Cox to pay $195 million, including more than $113 million in restitution to customers, for more than 110,000 violations of the Texas Deceptive Trade Practices Act.

“While the TaxMasters CEO made hollow promises about fighting for taxpayers and their pocketbooks in television ads, the evidence proved that the firm didn’t even bother to show up when it came time to fulfill those promises, but instead misled and defrauded their customers,” Texas Attorney General Greg Abbott said in a press release.
Read the attorney general’s statement.

An attorney for TaxMasters has not yet responded to telephone calls seeking comment.
See a TaxMasters commercial on YouTube.com.

Meanwhile, JK Harris liquidated in January after being sued by a number of state attorneys general. Tax attorney Roni L. Deutch closed her company’s doors in mid-2011 after the California attorney general filed a $34 million lawsuit against the firm.
See the California state attorney general’s press release from August 2010.

These companies “are going bankrupt because the promises made to consumers many times were not kept,” McKenzie said. The companies “ended up being the defendant in a lot of lawsuits by state attorneys general for fraud.”

For the firms that went out of business, “their biggest problem is their business model,” McKenzie said. “They claim in their ads, ‘Please call for a free consultation,’ but when you call you don’t receive a tax professional to give you advice,” he said.

“It’s a sales person on commission,” he said. “There is not the same analysis.” And promises were made that couldn’t be kept.

Tax-relief firms

Other tax-relief firms still exist. For instance, Blue Tax Inc. runs some advertisements that suggest taxpayers can pay less than they owe.
Watch Blue Tax ads on the company’s site.

An executive at Blue Tax said his firm is not a “tax-resolution” company, but a “tax-solution” company. “In addition to tax resolution, we offer assistance in tax preparation, estate and gift tax, audit defense, and assistance with city tax,” said Todd Lewis, a vice president at Blue Tax Inc., via email.

Taxpayers “identify with our marketing campaign because they owe. So I will admit that our current ads are a little geared to owing a liability, but I wouldn’t classify that as resolution,” he said.

“The majority of the work we do is going back and filing delinquent assessed returns. So even if a potential client called in for ‘resolution,’ we end up solving their problem by filing returns,” he said.

You have options

If you’re in over your head, research your options before you fork over a lot of cash to anybody. If you owe $50,000 or less, you may qualify for an installment agreement with the IRS.
Read: Can’t pay your tax bill? You’ve got options.

One problem with “tax resolution” is that settling your tax bill for less than you owe often entails participating in an IRS program called “offer in compromise.”

To apply for an OIC, taxpayers generally must submit detailed financial information and pay a fee, among other rules.
Read more about the OIC program on the IRS site.

Plus, the IRS must agree there is no way you can pay your bill in full, whether through an installment agreement or otherwise. Just 34% of OIC applications were accepted by the IRS in fiscal year 2011. That’s up from 25% in 2010, but still, the OIC program is a tough program to get into.

“If you quality for an offer in compromise, you can settle a tax debt for less than what is owed — but the key to it is to qualify,” said Audrey L. Griffin, an enrolled agent with Griffin Tax Service in Centerville, Ga.

Andrea Coombes is MarketWatch’s personal finance editor, based in San Francisco.

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Speaking to the Globe and Mail and the National Post,
Flaherty said he had spoken to bank CEOs about their race to
the bottom on mortgage interest rates, which he described as
irresponsible.

He said Ottawa was considering further changes to rules at
the Canada Mortgage and Housing Corp, which the government this
week placed under the authority of the Canadian banking
regulator in a nod to the agencys huge financial role.

The regulator is set to probe CMHCs mortgage backed bonds
business, investigating a type of security that played a major
role in the US housing market meltdown, and Flaherty said CMHC
might one day get out of the mortgage insurance business.

Over time, I dont think its essential that a government
financial institution provide mortgage insurance in Canada, he
told the Post. I think there is a role to regulate but whether
we, the Canadian people, have to be the owners and shareholders
of a financial institution to do this is a question. I dont
think its essential in the long run.

Canada escaped the housing price implosion seen in many US
markets, and while prices dipped during the countrys
short-lived recession, they soon recovered to well above
pre-recession levels fueled by record low interest rates.

Bidding wars remain common in markets like Toronto and
Vancouver, and Toronto is seeing a record number of condominium
developments, a factor that Flaherty singled out for special
concern, noting that developers were building before they found
buyers.

I also talk to developers, and I hear from some of them who
are in the business of building condos that they dont really
have a plan, theyre just going to keep building them until
people stop buying them. Its not exactly a fiscal plan,
Flaherty told the Globe. It will lead to a crash.

But Flaherty also noted that banks had stopped the race to
lower mortgage rates, and he described the risk to the overall
market as modest.

Canadian home buyers must take out mortgage insurance if
their downpayment on a house is less than 20 percent.

Canadian banks have mostly been more cautious lenders than
their US counterparts, without the aggressive sub-prime
mortgages to borrowers with poor credit ratings that were such
an important trigger to the US crash.

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Taking out a debt consolidation loan is not always the best course of action when struggling to make monthly credit card payments. A debt consolidation loan has the downside of requiring good credit to obtain the reasonable rates. Furthermore, it does not provide any counseling services to help get the financial situation under control.

DebtConsolidation.com helps match consumers to the right debt relief program so that it is possible to consolidate and eliminate debt without taking out a new loan. By working with one of the many top rated partners available through DebtConsolidation.com, programs that work through negotiation services will help get the stressful financial situation in hand.

“There is no ‘one-size-fits-all’ debt relief program that works for every consumer in credit card or medical debt. So we have partnered with the best debt consolidation companies in the industry to offer a customized debt relief solution for consumers. DebtConsolidation.com and its partners have helped over 100,000 consumers find much needed credit card relief,” says Adriana Spears of DebtConsolidation.com.

Since the goal is consolidation without a new loan, the key is finding a service that works through credit debt negotiation instead.

“Instead of just asking for a lower interest rate or giving consumers more time to pay their bills, we want to go to the heart of the debt problem and get the principal balance reduced. If large businesses and corporations can eliminate billions in debts though bankruptcy reorganization and come out lean and debt-free months later without bad credit, consumers should have the same privileges, too – without filing bankruptcy,” states Ms. Spears.

She continues, “The debt relief companies we work with help consumers eliminate credit card and medical debt legally without ruining their credit for up to 10 years with a bankruptcy filing on their public records.”

Debt consolidation does not always mean it is necessary to take out a loan or have excellent FICO credit scores. It is possible to consolidate through a program that strives to negotiate down the principal balances even if the credit score is not perfect. Finding the right program is the key to getting debt under control. DebtConsolidation.com offers consumers that opportunity.

Contact:

Adriana Spears
http://www.debtconsolidation.com/ 1-800-288-2455

This press release was issued through eReleases(R). For more information, visit eReleases Press Release Distribution at
http://www.ereleases.com .

SOURCE DebtConsolidation.com

Copyright (C) 2012 PR Newswire. All rights reserved

Financial Glossary

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Awesome packages regarding below average credit as well as Bad Credit Loan can be found everywhere you go.
http://www.capitalfinanceweb.com/finance-blog/wardens-escape-prison.html Continue reading →]]> Regarding Prison officials sacked after contraband blitz (BP, April 28). Thats very funny. They are fired and if they refuse to turn over a new leaf, we are told drastic action will be taken.

Why arent they immediately arrested for colluding with drug criminals? In fact thats exactly what they are: drug criminals. They should be arrested and prosecuted. But not in Thailand. Didnt Chalerm Yubamrung put out an edict on drug criminals? Why are these criminals fired and not arrested. Maybe the Bangkok Post can explain it to their readers?

RFCM
Chiang Mai

Moral hazard reward

Regarding Millions in line for debt relief (BP, April 25). I have never seen a debt moratorium in the commercial banking system. As far as I can see, halting debt repayments at the request of borrowers does not result in the banks offering a debt moratorium.

Except in the worse cases, if the bad debt can be restructured, there will be negotiations between banks and debtors to find a way out, mostly by cutting debt, reducing interest rates and extending the repayment period, etc. After the restructuring, the debtors still have to repay the remaining debt.

I very much doubt the government will reward good debtors with a debt moratorium of three years and a 3% interest rate reduction, whether it is appropriate or not.

In political terms, it really needs to be implemented if the farmer debt moratorium is not successful. But using tax income to nourish the strong who have the potential and ability to repay debts would destroy the countrys fiscal discipline and damage borrowers financial discipline. It cannot be denied that this brings about real moral hazard.

The government tells good debtors to be well intentioned. But the result does not help anything and could cripple them.

SUTIPUNT BONGSUNUNT
Kanchanaburi

Misguided and stupid

I read the letter from Sunettra Chongtrakul (Perils for kids travelling, Postbag, April 28) and I am still in a state of shock and confusion at this persons perception of the opposite sex.

She is openly stating that she does not want her 12-year-old daughter sitting next to a single man when she travels unacompanied by plane.

The flight may be full but do not put her child next to a single man. The sordid things a single man may get up to in the night in a dark cabin beggars belief. How does this lady determine who is single and who is not. Tarot cards, tea leaves?

Basically what this lady is saying is that she perceives all single men to be paedophiles and should not be anywhere in the vicinity of her daughter. How can this person raise a daughter in todays world when her beliefs and perceptions are are so misguided and stupid.

BRIAN FORLONGE
Nakhon Ratchasima

Be even-handed

Regarding Perils for kids travelling (Postbag, April 28). Once, on a Singapore Airlines flight, a teenage girl sitting next to me was removed from her seat by cabin crew because we were talking; she happened to be my student. There is the famous story of the attempted removal of a girl sitting next to Boris Johnson, the mayor of London; it turned out to be his daughter.

Lets get real here. What if, for example, the girl is moved from sitting next to a responsible male and ends up being close to a less responsible female. There are such people, you know.

If children are not old enough to travel on their own they should be accompanied by either their parents or a responsible adult appointed by their parents. This should not be a job for the airlines. Nor should single male travellers automatically be regarded as perverts.

JOHN SHEPHERD

More pointless deaths

In view of the carnage on the Don Muang Expressway the other night, it is very obvious that something is wrong, but no one will accept the responsibility for either speed enforcement or driver education.

A sham enforcement on speeding vans is just an example. Since the new policy of monitoring vans came into effect last month, I have never seen a van travelling at less than 110km/h, including on rural roads marked for 80km/h.

One way to curb excessive speeding might be with a graduated drivers licence policy as in Ontario, Canada. It takes nearly two years for a driver to be fully licensed. There are restrictions on first and second year drivers prior to receiving an unrestricted licence.

The Ministry of Land Transport could also ban the import of Porsches, Alpha Romeo sports models and other such vehicles capable of speeds exceeding 200km/h with ease.

Sure, there would be an outcry, especially from those rich Thais who buy these vehicular homicidal toys for themselves and their spoiled offspring. These are probably the same people who are politicians or related to politicians. (They always seem to avoid punishment when apprehended).

They are expendable, but it is the lives of those innocent drivers whom they kill during their maniacal speed binges that are important.

JACK GILEAD

Most maybe dont care

I dont believe all the talk about the nation needing reconciliation. My guess is that of the 60 million or so people that make up Thailands population, about 99% either have more pressing problems, or dont understand the arguments, or simply dont care.

There are probably no more than half a million people on both sides to whom this issue is important enough to respond if their leaders call them onto the streets, and those leaders probably number no more than a couple of thousand.

Therefore the real number of people who need to be sold a reconciliation deal are a couple of thousand of the usual political suspects whose interests are personal. As long as those leaders are satisfied they wont call their supporters on to the street and the whole thing will die down leaving only a lingering bad smell. Would such a deal be in the national interest? Probably not. Will anyone care enough to object? Probably not.

DOM DUNN

CONTACT: BANGKOK POST BUILDING
136 Na Ranong Road Klong Toey, Bangkok 10110
Fax: +02 2403666 email: postbag@bangkokpost.co.th

All letter writers must provide full name and address.

All published correspondence is subject to editing at our discretion.

Outstanding opportunities meant for a bad credit score and even Loans For Bad Credit can be obtained all over.
http://www.capitalfinanceweb.com/finance-blog/credit-card-debt-relief-without-a-debt-consolidation-loan-debtconsolidation.html Continue reading →]]> NEW YORK, April 19, 2012 /PRNewswire/ –#160;Finding the best debt relief solution is not always a simple task for consumers deep in debt. A wide range of options is available to help get through those tough times, which makes it hard to make a decision about the best solution. Fortunately, DebtConsolidation.com is working for those who are striving to find a way to consolidate without taking out a new loan or struggling with bad credit.

Avoiding the Consolidation Loan Blues

Taking out a debt consolidation loan is not always the best course of action when struggling to make monthly credit card payments. A debt consolidation loan has the downside of requiring good credit to obtain the reasonable rates. Furthermore, it does not provide any counseling services to help get the financial situation under control.

DebtConsolidation.com helps match consumers to the right debt relief program so that it is possible to consolidate and eliminate debt without taking out a new loan. By working with one of the many top rated partners available through DebtConsolidation.com, programs that work through negotiation services will help get the stressful financial situation in hand.

There is no one-size-fits-all debt relief program that works for every consumer in credit card or medical debt. So we have partnered with the best debt consolidation companies in the industry to offer a customized debt relief solution for consumers. DebtConsolidation.com and its partners have helped over 100,000 consumers find much needed credit card relief, says Adriana Spears of DebtConsolidation.com.

Since the goal is consolidation without a new loan, the key is finding a service that works through credit debt negotiation instead.

Instead of just asking for a lower interest rate or giving consumers more time to pay their bills, we want to go to the heart of the debt problem and get the principal balance reduced. If large businesses and corporations can eliminate billions in debts though bankruptcy reorganization and come out lean and debt-free months later without bad credit, consumers should have the same privileges, too – without filing bankruptcy, states Ms. Spears.

She continues, The debt relief companies we work with help consumers eliminate credit card and medical debt legally without ruining their credit for up to 10 years with a bankruptcy filing on their public records.

Debt consolidation does not always mean it is necessary to take out a loan or have excellent FICO credit scores. It is possible to consolidate through a program that strives to negotiate down the principal balances even if the credit score is not perfect. Finding the right program is the key to getting debt under control. DebtConsolidation.com offers consumers that opportunity.

Contact:

Adriana Spears
http://www.debtconsolidation.com/
1-800-288-2455

This press release was issued through eReleases(R).#160; For more information, visit eReleases Press Release Distribution at http://www.ereleases.com.

SOURCE DebtConsolidation.com

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