Debt Reduction- Advice On Credit Card Debt Reduction, Debt Reduction Services, And Debt Reduction Plans

ray H asked:


Executive Summary
We design and deliver the systems, software
and services that drive next-generation communications
networks. Backed by Bell Labs
research and development, we use our
strengths in mobility, optical, access, data and
voice networking technologies, as well as
services, to create new revenue-generating
opportunities for our customers, while
enabling them to quickly deploy and better
manage their networks. Our customer base
includes communications service providers,
governments and enterprises worldwide.
We have three segments organized
around the products and services we sell.
The reportable segments are Integrated Network
Solutions (“INS”), Mobility Solutions
(“Mobility”) and Lucent Worldwide Services
(“Services”). INS provides a broad range
of software and wireline equipment related
to voice networking (primarily consisting
of switching products, which we sometimes
refer to as convergence solutions, and voice
messaging products), data and network
management (primarily consisting of access
and related data networking equipment
and operating support software) and optical
networking. Mobility provides software and
wireless equipment to support radio access
and core networks. Services provides deployment,
maintenance, professional and managed
services in support of both our product
offerings as well as multi-vendor networks.
Beginning in fiscal 2001, the global
telecommunications market deteriorated,
resulting from a decrease in the competitive
local exchange carrier market and a significant
reduction in capital spending by established
service providers.This trend intensified
during fiscal 2002 and continued into fiscal
2003. Reasons for the market deterioration
included general economic slowdown, network
overcapacity, customer bankruptcies,
network build-out delays and limited availability
of capital.
We believe that the market for telecommunications
equipment has stabilized
and is starting to grow in certain areas. The
growing demands of enterprises and consumers
for additional services tailored to
their needs is creating the need for a new
convergence of networks, technologies and
applications.
Required
1. Using the Consolidated Balance
Sheets for Lucent Technologies for
September 30, 2004 and 2003, prepare
a common-size balance sheet.
2. Evaluate the asset, debt, and equity
structure of Lucent Technologies, as
well as trends and changes found on
the common-size balance sheet.
3. What concerns would investors and
creditors have based on only this
information?
4. What additional financial and nonfinancial
information would investors
and creditors need to make investing
and lending decisions for Lucent
Technologies?

LUCENT TECHNOLOGIES INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(in Millions, Except per Share Amounts)
September 30, September 30,
2004 2003
Assets
Cash and cash equivalents $ 3,379 $ 3,821
Marketable securities 858 686
Receivables 1,359 1,511
Inventories 822 632
Other current assets 1,813 1,213
Total current assets 8,231 7,863
Marketable securities 636 —
Property, plant, and equipment, net 1,376 1,593
Prepaid pension costs 5,358 4,659
Goodwill and other acquired intangibles, net 434 188
Other assets 928 1,608
Total assets $ 16,963 $ 15,911
Liabilities
Accounts payable $ 872 $ 1,072
Payroll and benefit-related liabilities 1,232 1,080
Debt maturing within one year 1 389
Other current liabilities 2,361 2,393
Total current liabilities 4,466 4,934
Postretirement and postemployment benefit liabilities 4,881 4,669
Pension liabilities 1,874 2,494
Long-term debt 4,837 4,439
Liability to subsidiary trust issuing preferred securities 1,152 1,152
Other liabilities 1,132 1,594
Total liabilities 18,342 19,282
Commitments and contingencies
8.00% redeemable convertible preferred stock — 868
Shareowners’ Deficit
Preferred stock—par value $1.00 per share; authorized shares:
250; issued and outstanding: none — —
Common stock—par value $.01 per share;Authorized shares:
10,000; 4,396 issued and 4,395 outstanding shares as of
September 30, 2004,and 4,170 issued and 4,169
outstanding shares as of September 30, 2003 44 42
Additional paid-in capital 23,005 22,252
Accumulated deficit (20,793) (22,795)
Accumulated other comprehensive loss (3,635) (3,738)
Total shareowners’ deficit (1,379) (4,239)
Total liabilities, redeemable convertible preferred stock
and shareowners’ deficit $ 16,963 $ 1591

Hannah Lewis

Ronnie Nicole asked:


Which of the following would be an external user of accounting information?

a. chief executive officer

b. vice president of finance

c. bank loan officer

d. chief financial officer

2. What is the characteristic that allows financial statement users to compare information over time?

a. reliability

b. relevance

c. consistency

d. comparability

3. Auditors are responsible for

a. preparing a company’s financial statements in accordance with GAAP

b. preparing a company’s earnings forecast in accordance with GAAP

c. determining whether a company prepared its financial statements in accordance with GAAP

d. determining whether their clients prepared their financial statements accurately

4. Companies acquire and sell property and equipment as a result of which business activity?

a. financing

b. investing

c. operating

d. auditing

5. Ace Co. has total assets in the amount of $3,000,000 and total liabilities in the amount of $2,000,000. It sold stock to new shareholders for cash of $1,000,000. As a result of this transaction:

a. the debt to assets ratio will increase

b. the assets turnover ratio will increase

c. the debt to assets ratio will decrease

d. the net profit margin ratio will decrease

6. The following information is available for Aztech:

Total assets $800,000

Net Income 120,000

Average total liabilities 400,000

Sales revenue 1,500,000

Total liabilities 500,000

Average total assets 700,000

The net profit margin ratio is

a. 8%

b. 12.5%

c. 15%

d. 17.1%

7. North Co. understated its expenses for the year. As a result

a. its debt to assets ratio will be understated

b. its net profit margin ratio will be understated

c. its debt to assets ratio will be overstated

d. its net profit margin ratio will be overstated

8. Which of the following results in an expense for a company?

a. purchase of land

b. payment of advertising for last month

c. payment of a dividend

d. purchase of supplies

9. Which of the situations results in unearned revenue?

a. collection of $100 from a customer who charged the purchase of goods a month ago

b. the receipt of an order from a customer who will purchase and pay for goods in two weeks

c. the sale of $100 of goods today with the payment due from the customer in 30 days

d. the receipt of $100 cash from a customer for an order of goods to be shipped next month

10. Which of the following is a stockholders’ equity item?

a. contributed capital

b. cash

c. accounts receivable

d. accounts payable

11. Which of the following items will reduce stockholders’ equity?

a. the purchase of equipment

b. the purchase of supplies

c. receiving a loan

d. the payment of salaries

12. If a company does not receive cash until after it delivers goods

a. it must wait to receive cash until it can record revenue

b. it must record unearned revenue at the time it delivers goods

c. it must record revenue at the time it delivers the goods

d. it must increase the amount of accounts receivable at the time it gets paid by its customer

13. Dividends paid to stockholders

a. are a reduction to retained earnings

b. appear in the cash flow from operations section of the statement of cash flows

c. appear on the income statement

d. are subtracted from contributed capital

14. Net income is

a. assets minus liabilities

b. revenues minus expenses

c. contributed capital minus dividends

d. stockholders’ equity minus liabilities

15. Which of the following statements is prepared as of a point in time?

a. income statement

b. statement of retained earnings

c. balance sheet

d. statement of cash flows

16. The Hamlet Corp has assets of $20,000, and stockholders’ equity of $12,000. The amount of liabilities is

a. $8,000

b. 12,000

c. 20,000

d. 32,000

17. Which of the following would appear in the cash flow from operations section of the statement of cash flows

a. cash paid to suppliers and employees

b. cash paid to purchase equipment

c. cash paid on notes payable

d. cash paid

Frida Hainley

George Soros Pwns Obama asked:


http://www.politico.com/news/stories/1209/30417.html

In a bold but risky year-end strategy, Democrats are preparing to raise the federal debt ceiling by as much as $1.8 trillion before New Year’s rather than have to face the issue again prior to the 2010 elections.

“We’ve incurred this debt. We have to pay our bills,” House Majority Leader Steny Hoyer told POLITICO Wednesday. And the Maryland Democrat confirmed that the anticipated increase could be as high as $1.8 trillion — nearly twice what had been assumed in last spring’s budget resolution for the 2010 fiscal year.

The leadership is betting that it’s better for the party to take its lumps now rather than risk further votes over the coming year. But the enormity of the number could create its own dynamic, much as another debt ceiling fight in 1985 gave rise to the Gramm-Rudman deficit reduction act mandating across-the-board spending cuts nearly 25 years ago.

Kristofer Jines

Susiepolls2008 asked:


While official Washington has seen many twists and turns in the legislative process this year, voter priorities have remained unchanged.

Deficit reduction has remained number one for voters ever since President Obama listed his four top budget priorities in a speech to Congress in February. Forty-two percent (42%) say cutting the deficit in half by the end of the president’s first term is most important.

Wilber Gauss

Liasonsupercouple asked:


1. Why does a reduction in aggregate demand reduce real output in the Keyen’s model, rather than the price level? Why might a full-strength multiplier apply to a decrease in aggregate supply?

2. Why might economists be quite concerned if the annual interest payments on the debt sharply increased as a percentage of the GDP?

3- Trace the cause-and-effect chain through which financing and refinancing of the public debt might affect real interest rates, private investment, the stock of capital, and economic growth. How might investment in public capital and complementarities between public and private capital alter the outcome of the cause-effect chain?

Barry Gizzo

George asked:


MY 12 STEP PROGRAM FOR AMERICA!
1. Add a sales tax on luxury items and revise the tax code exempting people making less than $200,000.
2. Double the size of the Small Business Administration. Create regional small business centers that give start ups 6 months of no operating costs.
3. Create a free national service college for veterans and people who plan to enter needed fields.
4. Create a federal insurance agency to investigate insurance abuse and regulate insurance operations.
5. Close all non-essential bases and missions over seas.
6. Stop all foreign borrowing and cut all outstand bonds to 0% interest!
7. End all imports of steel, plastic, and oil.
8. Begin to explore the 15 trillion barrels of oil off shore.
9. Build 120 nuclear power plants and sell power to all of North America.
10. Build a space based missile shield to end the threat of nuclear war and start arms reduction.
11. Create a new division of the Department of Labor to help place people in work.
12. Create 10 year tax amnesty program for foreign investors in America to allow trillions in new capital.

___________________Results__________
1. No taxes on low and middle income tax payers.
2. Allow anyone to start a business with no cost for 6 months creating millions of jobs.
3. Insure we our heroes get free education and provide all needed professionals.
4. End to all insurance abuse and fraud.
5. Stop playing Army for countries that have no gratitude.
6. Putting a stop to all new debt and reduce the payments by two thirds.
7. Bring back more than 50 million jobs!
8. Be producing our own oil in 6 months the same Valenzuela did, and export enough oil bankrupt OPEC.
9. Drop energy costs by 400% and export power to all of the America’s.
10. Force the world to stop the threat of force and instead use a common ideal.
11. Centralize all employment reducing decrimination and reducing unemployment by 2%.
12. Make America a international business tax shelter creating millions of jobs!

Over all a 0.5% unemployment rate, 24% GDP growth, house hold income increase of 20%, and a 40% cost of living reduction!

Brittney Klein

Jessie asked:


My cat has pyometra and is due for her appointment for surgery May 15th. It was the soonest I could get her in. Will she be okay for this week wait? She isn’t acting different and not showing signs of pain, but the discharge is orangy, still the same as it was, and I’m worried it may get alot worse. I can’t afford to take her to an emergency vet, I am in debt myself and have no job.

Is there anything I can do to help her, is there any store medications I can buy to help her, and will she be okay for a week as long as she’s taking the Clavamax. (the medicine they gave me for bacterial reduction).

Moshe Able

Caleb M asked:


“Your account is only eligible for a maximum of three payment arrangements with interest rate reduction and/or no fees during the lifetime of the account.

Please also be advised that we will report your account as closed to the credit bureau.

It is important that you do not break or cancel your payment arrangement as you may not be eligible for an additional arrangement.
This payment program temporarily reduces the annual percentage rate (APR) and monthly payment on your account.

If your account was open prior to the start of this arrangement, it will be closed and will remain closed after the end of the arrangement.
The original cardmember terms will be reinstated upon completion of the program. The default APR will be reinstated if a payment does not post to the account as agreed (see your statement for details on your APR).

If you are currently enrolled in credit insurance or debt protection, it will be cancelled.

If two agreed upon payments are missed, the arrangement will be terminated.

Additional payments may be required at the end of the arrangement to bring your account current and under the credit line.”

I’m trying to set up a payment arrangement to attempt to get a credit card that’s past due and over the limit back on the right track. Will this hurt my credit score severely?
my account is not closed yet

Shanna Tenpenny

dolphin314etc asked:


Should Anybody Listen to Sen Sessions’ New Facts? Or should the Senate just go ahead?

Obama for the past week has been touting the $350 Billion in deficit reduction savings over the next ten years.

Then today Sen Sessions comes out with a letter from CBO which says whoops! the democrats have been counting the effects of the Medicare Reforms twice. You can’t both use the $400 Billion (supposedly saved by curtailing fraud waste and abuse) to EXTEND the MEDICARE PROGRAM’S SOLVENCY and also use that exact same $400 Billion to CREATE NEW HEALTHCARE PROGRAMS OUTSIDE OF MEDICARE.

That’s double counting. When the double counting error is removed, it turns out that Obama-Care will greatly add to the annual deficits as far as the eyes can see and vastly increase our national debt.

Let me tell you a true story from the chronicles of the law. Some years ago (about 10 or 15) there was a Supreme Court in an eastern and southern state (could have been GA, TN, KY, or NC, don’t remember) that said “It does not matter if the DNA evidence totally exonerates the accused and shows that he did not commit the crime — He should be executed anyway — because all the correct processes and procedures were followed in our Courts and the accused got due process of law.”

The Court’s written opinion saying this was widely criticised, as you can imagine. If you know better, you don’t execute a man — said the critics. The Court Justices were interviewed in the press and at least one of them, in the interviews defended the opinion as valid, sound, and good jurisprudence.

That was the day I stopped believing that capital punishment in civilian courts is an appropriate punishment. We are simply too dumb and too crazy to handle that much power.

Now back to our subject — I told you the legal story because it is precisely where the Senate is at this exact moment.

The theory that Obama-Care is going to reduce the deficit has been shown, albeit at the last moment, to be a total and complete fraud. And yet the Senate in its insitutional arrogance and mental inertia plnas to vote for Obama-Care anyway tommorow morning at 8 a.m.

They can see plainly that this bill will entail huge deficits, not savings increases in the deficits, and a catastrophic national debt that no generations present or future will be able to bear, and yet, since all the test votes have been taken, and Senate rules and processes, and procedures have been followed, that catastrophic outcome which is now fully known does not matter. They will go ahead anyway.

It would never occur to anyone in the Senate to say, “Let’s check this out — see if the numbers were really double counted like the CBO and Sen Sessions says. If that means we have to wait till January to proceed, OK let’s wait. Let’s not do something totally stupid and irreversible now. A month more to get to the bottom of this makes much more sense than passing a bill that the whole Senate can see is based on fraudulent premises and duplicitous promises by Obama, Axelrod, Pelosi and Reid.”

It will be almost as if G.W. Bush knew before invading Iraq that there was NO WMD there, but decided to go ahead anyway, what the heck.

Tommorrow morning at 8 a.m. the American Prospect will be Lethally Harmed by 100 persons who know better. This is the inertia of mental deadness and the arrogance of institutional proceduralism. We can’t stop ourselves, no matter what the facts are.
Source(s):
Senator Sessions (Google his Remarks, Consider the reaction by Sen Reid, and ask yourself — is this logical?)

Cecille Teo

mrsthomas_4life asked:


Hello I have a question me and husband got our rebate notice on saying to expect our payment on June 6 and on the back it says under review it says “Your calculated stimulus payment is before reduction for certain outstanding non tax debt you owe such as past due child support or student loan or delinquent state income tax obligation. It says if its reduced we will receive a second notice but we dont own anything like that so i was wondering was that on the back of other notices also or to on someone’s that doesnt owe anything either. I need serious answers only please Thanks

Karen