Source: http://news.feedzilla.com/en_us/stories/politics/top-stories/273190920?client_source=feed&format=rss
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I am 24 years old and make $35,000 per year and I currently have $4,000 in personal savings. My company only matches contributions after a year of employment but I was thinking of starting my retirement fund before then. Is $4,000 enough of a cushion to start putting money towards my retirment fund?
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HONOLULU (AP) - President Barack Obama will cut short his traditional Christmas holiday in Hawaii, planning to leave for Washington on Wednesday evening as he and lawmakers consider how to prevent the economy from going over the so-called fiscal cliff.
Obama was expected to arrive in Washington early Thursday, the White House said Tuesday night. First lady Michelle Obama and the couple's two daughters will remain in Hawaii.
In the past, the president's end-of-the-year holiday in his native state had stretched into the new year. The first family had left Washington last Friday night.
Congress was expected to return to Washington on Thursday. Before he departed for Hawaii, Obama told reporters he expected to be back in the capital the following week.
Automatic budget cuts and tax increases are set to begin in January, which many economists say could send the country back into recession. So far, the president and congressional Republicans have been unable to reach agreement on any alternatives.
Lawmakers have expressed little but pessimism for the prospect of an agreement coming before Jan. 1. On Sunday, Sen. Kay Bailey Hutchison, R-Texas, said she expects any action in the waning days of the year to be "a patch because in four days we can't solve everything."
The Obamas were spending the holiday at a rented home near Honolulu. On Christmas Day, the president and first lady visited with members of the military to express thanks for their service.
"One of my favorite things is always coming to base on Christmas Day just to meet you and say thank you," the president said at Marine Corps Base Hawaii's Anderson Hall. He said that being commander in chief was his greatest honor as president.
Obama took photos with individual service members and their families.
On Christmas Eve, Obama called members of the military to thank them for serving the nation, then joined his family for dinner, the White House said. The Obamas opened gifts Christmas morning, ate breakfast and sang carols.
Friends were joining the Obamas for Christmas dinner Tuesday night, the White House said.
Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Source: http://www.news9.com/story/20423356/obama-spending-christmas-day-with-family-in-hawaii
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(Reuters) - U.S. cigarette makers including Philip Morris USA and R.J. Reynolds Tobacco Co said on Tuesday they reached a settlement with 17 states in a long-running dispute over the amount of payments they are required to make under the 1998 landmark anti-smoking agreement.
Under the settlement, the states will receive their share of $4 billion in disputed payments and the manufacturers will receive credits against future payments.
The payments resulted from the 1998 national accord that obliges companies to help cover the health bills of ailing smokers.
States, counties and cities have sold nearly $40 billion of bonds backed by the more than $200 billion in payments that U.S. cigarette makers agreed to make to them over time.
So far in 2013, returns on tobacco bonds have largely outperformed the rest of the $3.7 trillion municipal bond market despite concerns expressed by credit rating agencies about the decline in tobacco consumption.
In July Moody's investors service warned that the majority of tobacco bonds sold by U.S. states, counties and cities will default if cigarette consumption keeps falling at a 3 percent to 4 percent annual pace.
In December, California and New York's Nassau County tapped reserve for payments on three different series of state tobacco bonds due to insufficient tobacco settlement revenue.
The 46 states that participated in the 1998 agreement shared $6.15 billion in payments in April, up from $6.03 billion in April 2011, according to the National Association of Attorneys General.
Tobacco companies, including Marlboro cigarette maker Philip Morris, a unit of Altria Group Inc, and Camel cigarette maker R.J. Reynolds, a unit of Reynolds American Inc, have for years disputed the amount of payments they owe after losing market share to companies that did not agree to the 1998 settlement.
"This agreement resolves disputes with a large group of states on financial terms that are fair to the parties and in a way that we believe will lead to a better method for resolving these issues in the future," Denise Keane, Altria Group's executive vice president and general counsel, said in a statement.
The states in the settlement are Alabama, Arizona, Arkansas, California, Georgia, Kansas, Louisiana, Michigan, Nebraska, Nevada, New Hampshire, New Jersey, North Carolina, Tennessee, Virginia, West Virginia and Wyoming. Also settling are Puerto Rico and the District of Columbia, the tobacco companies said.
Philip Morris said it will receive a total of about $450 million in credits toward payments over the next five years. Reynolds said its credits will total more than $1 billion while Newport cigarette maker Lorillard Inc said its credits will be at least $198 million.
The agreement also allows other states to enter the settlement and is subject to approval by a panel that has been arbitrating the dispute over the payments. If they do not join the settlement, the arbitration will continue.
Altria shares closed at $32.59 on Tuesday on the New York Stock Exchange, while Reynolds closed at $41.94 and Lorillard ended at $116.09.
(Reporting by Brad Dorfman; editing by Andrew Hay and Phil Berlowitz)
Source: http://news.yahoo.com/tobacco-companies-17-states-settle-over-payments-003822808--sector.html
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by Todd Haselton | December 19, 2012

?We are pausing our mobile ads test off of Facebook,? a spokesperson told?AllThingsD. ?While the results we have seen and the feedback from partners has been positive, our focus is on scaling ads in mobile news feed before ads off of Facebook. We have learned a lot from this test that will be useful in the future.? Facebook?s discussions to place ads on websites of its partners have also been frozen, and?AllThingsD said the decision was made because neither Facebook nor its partners see the ads producing ?significant revenue? and because Facebook, unlike Google, can?t provide guaranteed income.
It?s unclear when the talks will resume, or when Facebook?s own mobile ad network will see the light of day.
Join the discussion
Source: http://www.technobuffalo.com/2012/12/19/facebook-pulls-plug-on-planned-ad-network/
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LOS ANGELES (AP) ? Music subscription service Rdio is looking to dispel the notion that streaming services underpay artists for their work. Starting Tuesday, it will start paying musicians $10 for every person they convince through social media to sign up for an Rdio plan.
The move is an attempt to attract users in a field that has seen tough competition from the likes of Sweden's Spotify and Rhapsody in the U.S.
Subscription music services are gaining in popularity. For $10 a month, they allow users to stream an unlimited number of songs on mobile devices. Users can select from millions of tracks, including those off the latest albums.
But some prominent artists like Adele and Coldplay have kept their newest work off the services for months because of fears that easy access will hurt album sales. Some artists have complained that the royalties per stream amount to just fractions of a penny per play.
Rdio CEO Drew Larner said the new bounty is a "win-win" for artists, fans, and the company itself.
"This hits the compensation issue, but also fan engagement as well," he said.
A few artists have signed up for the plan already, including Snoop Lion, the rapper-cum-Rastafarian formerly known as Snoop Dogg. Other artists getting involved from the get-go include Scissor Sisters, A-Trak, Chromeo and Brendan Benson.
Rdio is offering the deal to any artist who already has created an artist page on Rdio in any of the 14 countries where it is available, including the U.S., Canada, Brazil, Germany and Australia.
San Francisco-based Rdio was founded in 2010 by Janus Friis, one of the creators of Internet-based phone service Skype.
Source: http://news.yahoo.com/rdio-pay-artists-10-per-subscriber-040429165--finance.html
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