The 2011 Benji Awards and March Money Madness

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The movie stars have the Oscars, and the market stars have…The Benjis! The stock market version of the Academy Awards. Check out who wins Best Director and Best Performance.

Also, find out how to sign up for the March Money Madness Bracket Challenge.  In this year’s competition you have the chance to win a GoogleTV, iPad and more!  Sign up Today!

Till Debt Do Us Part

Even though the economy is still rocky, folks are definitely still tying the knot. Here’s how to do a little financial planning for your big day.

Veteran NFL QB Brunnell to File for Bankruptcy

Brunell expected to file for Chapter 11 Bankruptcy protection despite making $52 million during the last 10 seasons.

Brunell faces multiple lawsuits because of failed real estate and business loans, according to the Florida Times-Union. One of those includes a loan to a partnership called Champion LLC, which included Brunell’s former teammates in Jacksonville, Joel Smeenge and Todd Fordham.

The three-time Pro Bowler also has a dispute in Jacksonville over a $2.2 million loan for a real estate project. He won a Super Bowl ring as the New Orleans Saints’ backup QB last season, and is an unrestricted free agent.

See the full story here.

Ladies First

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March was Women’s History Month so I thought that it might be a good time to discuss the unique challenges that women face when it comes to money.

One of the biggest issues is that women tend to live longer than men.  Some might say that’s because women worry men to death…but you didn’t hear that from me.

Ex-NBA star Derrick Coleman made $87 million, now files bankruptcy

Former #1 overall draft pick says he owes creditors nearly $4.7 million.

According to the Wall Street Journal . . .The ex-Syracuse University standout and 1991 NBA Rookie of the Year earned tens of millions during a 15-year playing career but listed assets of just $1 million in papers filed with the U.S. Bankruptcy Court in Detroit, Coleman’s hometown.

Coleman’s desire to invest in the Detroit area after his playing career ended contributed to his financial problems, Coleman’s bankruptcy attorney Mark B. Berke said Friday.

Among Coleman’s ventures is a struggling Detroit development called Coleman’s Corner, an attempt to revive one of the city’s most downtrodden neighborhoods. Coleman defaulted on loans related to the mall last year.

Colemen’s other business interests include ownership stakes in the Hilton Garden Suites hotel in downtown Detroit, a Tim Hortons Inc. doughnut shop franchise and Hungry Howie’s Pizza store, according to court papers.

Among the assets that could be available for creditors is an eclectic mix of automobiles: a 1957 Buick convertible, worth $20,000; a 1970 Chevrolet Nova, worth $5,000; and a 1997 Bentley convertible, valued at $50,000.

Coleman also listed two Seadoo watercraft, his $90,000 NBA pension and two chinchilla fur coats.

Read the full story here.

It’s All About the Benjis!

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Forget the Oscars, it’s all about the Benjis!  Yes, no one invited me to the red carpet this year, so I made up my own awards to celebrate the one year anniversary of the market hitting is lowest level since 1996 and then recovering. Check out who wins “Best Director” and “Best Performance”.

March Money Madness Challenge

If you have ever filled out a bracket for the NCAA Basketball Tournament, you can play this game! 

It works the same, only using stocks instead of basketball teams.

So, sign up, test your investing skills against people from all over the country, and you could win a new Apple iPad!

In fact, as more people sign up here, I may add additional prizes, so tell all of your friends!

He is Young Money

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Happy New Year! Ok, to start things off right, check out this story of a 14 year old investor that has amassed $50k by investing in stocks in things he knows…like Nike.

He is really ahead of the game. How much did you say YOUR portfolio is worth again?

 

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Breaking Up is Hard to Do

Charlie Weis

ND Fires Weis, Owes Him $18 million

Notre Dame finally admitted that it made a mistake by giving an accomplished, but unproven in college, head coach a TEN YEAR EXTENSION just SEVEN GAMES INTO HIS TENURE at the school.

That mistake appears to be very costly.  According to the Sporting News, Notre Dame owes Weis an $18 million buyout, plus $1 million for the guaranteed contracts of it’s coaches. Ouch!

By the way, the athetic director that hired Weis, after objecting to the Uinversity’s request to fire then coach Ty Willingham, left the school for Duke last year. Guess he saw this coming.

What’s the lesson here?  Stop taking regular jobs and find a job where you can sign a CONTRACT.  That way, even when they kick you to the curb, they will also have to throw out a big bag of money for you to land on.