“Advanta Lets Trust Unwind” and other links…
Morningstar Stock Analyst Notes: “Advanta ADVNB is throwing in the towel by closing customers' credit card accounts for future use and allowing an early amortization of its securitization trust. Although technically this isn't a failure, we think this marks the end of the firm's small business card operation. In our view, the chances of a comeback are almost nil.”
“Advanta’s painful plastic surgery”
money.cnn.com: “Advanta (ADVNA), the nation's No. 14 card issuer and a top lender to small businesses, said last week it will shut down its card business to stem losses. The move is a momentous one, because credit cards bring in nearly all Advanta's revenue.” I hardly used my Advanta card. Advanta failing along with the buyout of Washington Mutual leaves me alone with Chase Manhattan Bank (again). I considered both Advanta and WAMU relatively “nice” companies while the Chase attitude somehow led me to leave them years ago. Here they come again…
“The Current State of the Black American Economy”
dreamandhustle.com: “To be honest, most Black people are already marginalized and don’t even realize it yet. If you are Black walking around without a college degree and little experience under your belt, you going to have a hard time trying to justify why some employer should pay you a living wage when a foreigner is willing to do the same work you do for half. If you are one of those ‘blessed to have a job’ Black people, your kids may be ill-equipped if you have indoctrinated them to believe they can just replicate your current working situation when they grow up – they won’t. This world is rapidly moving towards a new global working class of people who are multi-national, multi-lingual and multi-talented that is happening right now as you read this.”