Cash Pay Advance

When the leaders of a health care business and a coffin maker teamed up to ring the opening bell at the New York Stock Exchange last week, traders may have wondered if they were witnessing some kind of April Fool’s prank. Ellison , the billionaire chief of Oracle, just added $3 million to his wealth, thanks to the San Mateo County Assessor’s Office in California. REDOING THE MATH VeriFone , a maker of payment technology like PIN cards and checkout counter credit card machines, said last week that it “did not maintain effective internal control over financial reporting,” according to a company statement on Wednesday. He also had a gain of $149 million from exercising options on Colgate’s stock and an additional $32 million from the vesting of previous stock awards. Find Out More

COUNCIL cash offices at the Concourse Shopping Centre, Skelmersdale, and Derby Street headquarters, Ormskirk, are closing. Bills will have to be paid through the council’s website, over the phone, or in some cases via direct debit, says the council. To ensure that customers know their options, the council has taken on an “alternative payment advisor” who is visiting the two sites to give people advice about the best ways they can pay their bills. The council wants people to pay using direct debit, standing order, cheques by post, bank giro credit, debit card, Post Office/Paypoint or using a credit card. In many cases people can still pay cash at local Post Offices and Paypoint outlets if they have arranged this facility through the council. Find Out More

Workers at the Macomb County Clerk’s Office must have felt like the county won the lottery Tuesday. That’s because a father and his adult son paid $55,920 in cash to pay off fines and costs in a sentence for a conviction of producing or selling 45 kilograms of marijuana. Workers say a casually dressed Gary Pollard, 58, pulled out more than 500 $100 bills and about 10 $50 bills in paying off $48,120 in fines and costs for the case of his son, Michael Pollard, and $8,120 in fines and costs for his related case. The two Pollards had pleaded guilty to the charge and were sentenced to probation Tuesday by Judge Mark Switalski of Macomb County Circuit Court. Diane Pollard, Gary Pollard’s wife, pleaded guilty to a marijuana possession charge and was ordered to pay $1,500 in court costs. The Pollards also must pay $123,000 in a forfeiture judgment won by the Macomb County Prosecutor’s Office by mid-June in connection with the value of the two Detroit properties. Find Out More

Results Three months ended December 31, 2007 and 2006 GAAP GAAP GAAP Fundamental Q2 Q2 Variance Fundamental Fundamental Variance 2008 2007 % Q2 2008 (1) Q2 2007 (1) % Net income (USD’000) 20,318 12,823 58% 22,165 15,393 44% Earnings per share, basic (US cents) 36 23 57% 39 27 44% Revenue (USD’000) 68,500 49,571 38% 68,500 49,571 38% (1) - Fundamental net income and earnings per share is GAAP net income and earnings per share excluding the amortization of acquisition-related intangible assets, net of deferred taxes, and stock-based compensation charges. GAAP GAAP GAAP Fundamental Q2 Q2 Variance Fundamental Fundamental Variance 2008 2007 % Q2 2008 Q2 2007 % Net income (ZAR’000) 137,686 93,851 47% 150,203 112,663 33% Earnings per share, basic (ZAR cents) 241 165 46% 263 198 33% Revenue (ZAR’000) 464,192 362,808 28% 464,192 362,808 28% Six months ended December 31, 2007 and 2006 GAAP GAAP GAAP Fundamental YTD YTD Variance Fundamental Fundamental Variance 2008 2007 % YTD 2008 YTD 2007 % Net income (USD’000) 38,246 27,895 37% 41,826 31,388 33% Earnings per share, basic (US cents) 67. Unaudited Condensed Consolidated Statements of Operations Three months ended Six months ended December 31, December 31, 2007 2006 2007 2006 (In thousands, except (In thousands, except per share data) per share data) REVENUE $68,500 $49,571 $128,759 $102,497 EXPENSE COST OF GOODS SOLD, IT PROCESSING, SERVICING AND SUPPORT 20,175 10,926 35,318 24,245 SELLING, GENERAL AND ADMINISTRATION 17,266 15,690 33,730 29,175 DEPRECIATION AND AMORTIZATION 2,833 2,813 5,579 5,760 OPERATING INCOME 28,226 20,142 54,132 43,317 INTEREST INCOME, net 4,116 1,186 7,098 2,058 INCOME BEFORE INCOME TAXES 32,342 21,328 61,230 45,375 INCOME TAX EXPENSE 11,788 8,690 22,660 17,530 NET INCOME FROM CONTINUING OPERATIONS BEFORE MINORITY INTEREST AND (LOSS) EARNINGS FROM EQUITY-ACCOUNTED INVESTMENTS 20,554 12,638 38,570 27,845 MINORITY INTEREST - - (196) 205 (LOSS) EARNINGS FROM EQUITY ACCOUNTED INVESTMENTS (236) 185 (520) 255 NET INCOME $20,318 $12,823 $38,246 $27,895 Net income per share Basic earnings, in cents - common stock and linked units 35. Unaudited Condensed Consolidated Statements of Cash Flows Three months ended Six months ended December 31, December 31, 2007 2006 2007 2006 (In thousands) (In thousands) Cash flows from operating activities Net income $20,318 $12,823 $38,246 $27,895 Depreciation and amortization 2,833 2,813 5,579 5,760 Loss (Earnings) from equity-accounted investments 236 (185) 520 (255) Fair value adjustment related to financial liabilities (169) 153 (242) 153 Fair value of FAS 133 derivative adjustments (17) 75 (10) 77 Interest payable 124 - 241 - Profit on disposal of property, plant and equipment (76) (33) (86) (67) Minority interest - - (196) 205 Stock-based compensation charge 911 524 1,752 496 (Increase) Decrease in accounts receivable, pre-funded social welfare grants receivable and finance loans receivable (23,786) 6,477 (18,248) (2,552) Decrease in deferred expenditure on smart cards 166 151 260 194 Decrease (Increase) in inventory 186 (174) (1,579) (2,753) (Decrease) Increase in accounts payable and other payables (12,106) (3,655) 313 (10,946) Decrease in taxes payable (7,128) (512) (6,632) (3,378) Increase (Decrease) in deferred taxes 2,939 (1,947) 4,756 153 Net cash (used in) provided by operating activities (15,569) 16,510 24,674 14,982 Cash flows from investing activities Capital expenditures (1,205) (860) (1,876) (1,703) Proceeds from disposal of property, plant and equipment 77 28 118 146 Acquisition of Prism Holdings Limited, net of cash acquired - (224) - (82,330) Net cash used in investing activities (1,128) (1,056) (1,758) (83,887) Cash flows from financing activities Proceeds from issue of share capital, net of share issue expenses - - 150 50 Proceeds from bank overdrafts 1,453 43,410 1,462 61,583 Repayment of bank overdraft (1,426) (45,216) (1,442) (62,272) Proceeds from interest bearing liabilities - 3,513 - 3,513 Net cash provided by financing activities 27 1,707 170 2,874 Effect of exchange rate changes on cash 1,889 8,608 5,928 4,198 Net (decrease) increase in cash and cash equivalents (14,781) 25,769 29,014 (61,833) Cash and cash equivalents - beginning of period 215,522 102,133 171,727 189,735 Cash and cash equivalents - end of period $200,741 $127,902 $200,741 $127,902 Net 1 UEPS Technologies, Inc. Find Out More

Thomas Goldsmith , Staff Writer The federal campaign called Go Direct brought its message to Raleigh seniors Tuesday, recommending that older people use direct deposit for their Social Security and other federal benefits. To eliminate fraud and theft, and to give people quicker access to their money, the government is working to convince seniors they should get direct deposit. Just last month, a postal employee, Onita Barnes of Rocky Mount, was accused in an indictment of stealing Treasury checks, including Social Security checks, federal officials said. By late summer, North Carolinians should have access to Direct Express, a prepaid debit card designed to give people who don’t use banks access to their benefit money, U. Find Out More

Don’t leave your Christmas tree lights on or candles lit. Park in a well-lighted area, and be sure to lock the car, roll up the windows, and hide shopping bags and gifts in the trunk or out of sight. Don’t answer the front door to anyone you don’t know, especially when home alone. The Sault Ste Marie Police Service would like to remind the public that the festive R. So far police have stopped 1,825 vehicles in the campaign with five 12 hour suspensions given out, 22 roadside tests administered, one impaired charge and four other criminal charges laid. The Sault Ste Marie Police Service would like to wish everyone a very safe and wonderful holiday. Find Out More

The drafters of the German States Treaty on gambling are demanding the impossible, says a panel of experts organised in Cologne by the T

Pay with a check or credit card whenever possible. Teach children that if they become separated from you in the store, to stay in one place and call out their parent’s first and last name. Place floodlights or motion detectors near doorways, garages, windows, pathways, and in the back of the house. It may conceal criminals trying to break in to your home. Check out the blotters compiled by our regional reporters for the lowdown on what’s gone wrong on the Northwest and East sides. Find Out More

NET | Apple | Mobile | Photo | Science | MMORPG | Nintendo DS | Wii | World of Warcraft | PlayStation 3 | PSP | Tabula Rasa | Xbox 360 | Gadgets | PC Gaming | DL. The company is sending out word that they will be extending the availability of their Founder’s lifetime subscription until the end of this year. Flagship has announced that they’re looking into setting up more convenient payment options, including (but not limited to) Pay By Cash and Paypal . The studio also states they’re planning on making debit card payment options available to their European chapters, given this was the preferred transaction method in the region. Permalink | Email this | Linking Blogs | Digg It! Do you have a page that links to this article ? Find Out More

Results Three months ended September 30, 2007 and 2006 GAAP Fundamental Fundamental GAAP GAAP Variance Fundamental Q1 2007 Variance Q1 2008 Q1 2007 % Q1 2008 (1) (1) % Net income (USD’000) 17,928 15,072 19% 19,659 15,994 23% Earnings per share, basic (US cents) 31 27 15% 34 28 21% Revenue (USD’000) 60,259 52,926 14% 60,259 52,926 14% (1) - Fundamental net income and earnings per share is GAAP net income and earnings per share excluding the amortization of acquisition-related intangible assets, net of deferred taxes, and stock-based compensation charges. Unaudited Condensed Consolidated Statements of Operations Three months ended September 30, 2007 2006 (In thousands, except share data) REVENUE $ 60,259 $ 52,926 EXPENSE COST OF GOODS SOLD, IT PROCESSING, SERVICING AND SUPPORT 15,143 13,319 SELLING, GENERAL AND ADMINISTRATION 16,464 13,485 DEPRECIATION AND AMORTIZATION 2,746 2,947 OPERATING INCOME 25,906 23,175 INTEREST INCOME, net 2,982 872 INCOME BEFORE INCOME TAXES 28,888 24,047 INCOME TAX EXPENSE 10,872 8,840 NET INCOME FROM CONTINUING OPERATIONS BEFORE MINORITY INTEREST AND (LOSS) EARNINGS FROM EQUITY-ACCOUNTED INVESTMENTS 18,016 15,207 MINORITY INTEREST (196) 205 (LOSS) EARNINGS FROM EQUITY-ACCOUNTED INVESTMENTS (284) 70 NET INCOME $ 17,928 $ 15,072 Net income per share Basic earnings, in cents - common stock and linked units 31. Unaudited Condensed Consolidated Statements of Cash Flows Three months ended September 30, 2007 2006 (In thousands) Cash flows from operating activities Net income $17,928 $15,072 Depreciation and amortization 2,746 2,947 Loss (Earnings) from equity-accounted investments 284 (70) Fair value adjustment related to financial liabilities (73) 2 Fair value of FAS 133 derivative adjustments 7 - Interest payable 117 - Profit on disposal of property, plant and equipment (10) (34) Minority interest (196) 205 Stock-based compensation charge (reversal) 841 (28) Decrease (Increase) in accounts receivable, pre-funded social welfare grants receivable and finance loans receivable 5,538 (9,029) Decrease in deferred expenditure on smart cards 94 43 Increase in inventory (1,765) (2,579) Increase (Decrease) in accounts payable and other payables 12,419 (7,291) Increase (Decrease) in income taxes payable 496 (2,866) Increase in deferred income taxes 1,817 2,100 Net cash provided by (used in) operating activities 40,243 (1,528) Cash flows from investing activities Capital expenditures (671) (843) Proceeds from disposal of property, plant and equipment 41 118 Acquisition of Prism Holdings Limited, net of cash acquired - (82,106) Net cash used in investing activities (630) (82,831) Cash flows from financing activities Proceeds from issue of share capital 150 50 Proceeds from bank overdrafts 9 18,173 Repayment of bank overdraft (16) (17,056) Net cash provided by financing activities 143 1,167 Effect of exchange rate changes on cash 4,039 (4,410) Net increase (decrease) in cash and cash equivalents 43,795 (87,602) Cash and cash equivalents - beginning of period 171,727 189,735 Cash and cash equivalents at end of period $215,522 $102,133 Net 1 UEPS Technologies, Inc. Our solution is based on simplifying the existing processes and providing significantly improved convenience to beneficiaries to access and receive their grants; — our financial strength that enables us to arrange finance for the significant amount of money required to pre-fund social grants in any, or all of the provinces, which is a requirement of the tender; and — our commitment to the principles of black economic empowerment, underscored by our demonstrable high levels of employment equity, financial participation by local black partners, preferential procurement policies and community upliftment programs. Card holders can obtain cash from any participating retailer, eliminating the need to search for an available ATM; — Cost effectiveness - Our solution is significantly cheaper than any other bank product, as we recover our fees mainly from employers, merchants and service providers; and — Access to credible and affordable facilities, such as money transfers, loans, interest paying savings, life insurance and third party payments. Three months ended September 30, 2007 Illustrative Illustrative effect effect Actual scenario 1(1) scenario 2(2) Fully distributed tax rate 36. Find Out More

The Port Authority of New York and New Jersey said today that it has proposed eliminating discounts for customers who use EZ-Pass during peak hours on its crossings between New Jersey and Manhattan and Staten Island. Drivers using EZ-Pass during peak hours currently pay $5 while customers with cash pay $6. To ease traffic during the most congested hours of the day, drivers with an EZ-Pass will pay $6 during off-peak hours. Last year, the Port Authority unveiled a $26 billion capital plan, which over 10 years would expand the region’s airports, ports and rail networks, and help rebuild the World Trade Center. Find Out More

Credit scores also impact the interest rate on your auto, home, and credit cards and over a lifetime, this can add up to hundreds of thousands of dollars. In fact, the government can amend their bailout corporate welfare by stipulating that only loans that met historical underwriting standards of 28 to 33 percent income to housing ratios and solid credit histories will be eligible for a bailout. For those that don’t have wealth reserves, you must bite the bullet and take student loan debt, mortgage debt, and credit card debt. But even if you have a distaste for credit you still need a strong credit score for better mortgage rates, lower insurance premiums, and sometimes a nosy employer. Find Out More

DNA - Money - Shopkeepers love credit cards, don’t they? Find Out More

THE CLEAN BILL OF HEALTH that Equity Bank got from a parliamentary select committee chaired by Bondo MP Oburu Odinga was a welcome relief, for the issue had already started sending jitters across the country. Thus, banks made a killing lending to the Government, which kept rolling over T-bills to plug the gaping holes in a budgetary regime that relied heavily on borrowed money. Through Equity Bank and others that have embraced the model targeting low-income earners, capital started seeping into the Jua Kali sector and other small and medium scale enterprises (SMEs). It was at the time that the major banks started hawking loans through SMS, new marketing staff, and leaflets strewn all over their banking halls that Equity came up with its incredible model. The success of the Equity model in a country where distribution of resources is so uneven captures the fate that befalls many a small industry in a country where even MPs are said to have been bank-rolled by big companies to push their interests through the House. Find Out More

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