Kentucky vacation cabin rental gives a feel of home at holidaying destination. It provides comfort and doesn’t let the person feel that he is away from home. It embraces of all facilities such as refrigerators, washer, laundry, etc. In addition to that it also consist of fully furnished kitchen which contains all basic utensils and required material which are needed while cooking food. He is asked to pay rent in return of all these services. The rent of the vacation cabin rental in Kentucky depends on the size and location of the cabin rental.

  SAN DIEGO, CA…   The American Association of Franchisee and Dealers (AAFD) announced Curves International, Inc., as AAFD’s Franchisor of the Year for 2009.   Curves International is the franchisor of Curves fitness centers, the world’s largest fitness network with nearly 10,000 franchisee-owned fitness clubs serving four million women worldwide. Curves is also one of the fastest growing franchise companies in history.   Notwithstanding the challenges of rapid growth and dynamic involvement in multiple channels of distribution, the Company has embraced a collaborative culture with its franchise network and has enjoyed a very positive relationship with its members as a result.   AAFD Chairman Robert Purvin cited Curves’ exemplary franchise culture as the primary focus of the AAFD’s recognition. “Curves management has encouraged and supported the organization of an independent franchisee association, including a willingness to engage the association’s elected leadership.”   “In the 15 years that I have been representing franchisee associations, my experience with Curves International has been utterly unique,” said Ron Gardner, the attorney for Circuit Fitness Association (CFA). “The company has supported a completely independent association, both financially, and through open and continuous access to Curves’ senior management and have embraced the CFA as a valuable source of information. That’s contributed to noticeable improvements in the system for both the franchisees and the franchisor—exactly how a healthy franchisor/franchisee relationship should work.”   “Curves International, under the leadership of Gary and Diane Heavin, as well as Mike Raymond, has shown tremendous support for the Curves Franchisee Association. This has been done through funding as well as an open dialogue with not only top leadership, but with the various department heads,” said Mary Ella Young, president of CFA. “Curves has always asked for complete honesty and has been very open to criticism when the CFA felt it was necessary. This never dissuaded them from their support of the CFA. Quite the opposite; they are interested and support the transition to being a completely independent and autonomous group.”   Under the wise leadership of company founders, Gary and Diane Heavin, Curves has defined itself as a franchise system built upon a culture of collaboration with and respect for its franchisee network, as well as setting a high standard for customer satisfaction and commitment.   Said CEO Gary Heavin, “We have always made every effort to work hand in hand with our franchisees—as partners and as friends. The CFA is an indispensable resource, providing invaluable feedback that allows us to serve our franchisees at a higher level. I am pleased to accept this award in recognition of the collaborative efforts of our corporate employees, our franchisees and the CFA.”   The Heavins opened the first Curves in 1992, and sold their first franchise in 1995. The company is headquartered in Waco, Texas. All Curves fitness clubs are independently owned and operated.   The AAFD’s Total Quality Franchising Awards will be presented during the Association’s Annual Franchisee Leadership Summit on Thursday, April 30, 2009, in San Antonio, Texas.   About Curves Curves works to help women lose weight, gain muscle strength and aerobic capacity, and raise metabolism with its groundbreaking, scientifically proven method that ends the need for perpetual dieting. Curves works every major muscle group with a complete 30-minute workout that combines strength training and sustained cardiovascular activity through safe and effective hydraulic resistance. Founders Gary and Diane Heavin are considered the innovators of the express fitness phenomenon that has made exercise available to 4 million women. With nearly 10,000 locations in 70 countries, Curves is the world’s largest fitness franchise. For more information, please visit: www.curves.com.   About the AAFD The AAFD is a national non-profit trade association representing the rights and interests of franchisees and independent dealers throughout the United States. Formed in 1992, The AAFD is focused on market driven reform to achieve its mission to define and promote collaborative franchise cultures that the AAFD describes as Total Quality Franchising. Since its formation the AAFD has grown to represent more than 50,000 franchised businesses throughout the United States. The AAFD currently has members in all 50 states and represents more than 100 different franchise systems.   The AAFD’s Fair Franchising Standards, Fair Franchising Seal, Trademark Chapters, and emphasis on Marketplace Solutions led to the Association’s recognition as a growing force in franchising. The AAFD’s Branded Partner programs add a new dimension to the value of AAFD membership. The AAFD provides a broad range of member services designed to help franchisees build market power, create legislative support of interest to franchisees, provide legal and financial support, and provide a wide range of general member benefits.   For more information about the conference or the AAFD, please call toll free – 800-733-9858 or visit www.AAFD.org.    

Gujarats poor gets wheat at Rs2 per Kg and congress is preferring votebank politics ove security concerns and it is a weak government: Stated CM shri Narendra Modi at Vijay Sanklap Yatra (for genereal election 2009) at Maninagar , Ahmedabad on 27th March 2009

Were you paying attention? Did you hear them speaking? Did you listen to what they were saying? Perhaps you did, but I can say this, I don’t believe they listened to you. In fact, they more or less proved they don’t care about you one iota, unless you happen to be one of their wealthy friends.The 700 billion dollar bailout congress passed on Oct. 3rd, 2008 has ballooned and will continue to do so. It will go to the banks and to the lobbyists who support the cabal in Washington, DC. Though it is your money to be stolen from you in the form of taxes, when it comes back to you it will do so in the form of loans where you will have to pay interest to borrow your own money. By the time these loans are paid back, the banks will have “earned” most likely many times the original amount in interest. The common man once again gets screwed. Our progeny has been sold out. Most of you likely already realized this. Most of us common folk realized this, judging from the amount of calls, emails, etc. received in the House of Representatives. Yet none of that mattered.Both Barack Obama and John McCain proved that they were nothing more than yes men for the moneyed interests. Neither one of these so called men are leaders. If one of these men had been a leader, he’d have spoken out against this bill. If one had done that, he’d have likely sewn up the presidential election right there. Both these men are afraid of speaking out against these special interests. Both are afraid of challenging the power of the Fed and the various moneyed lobbyists. This latest incident, this “credit crisis” proves beyond a shadow of a doubt that neither one of these men is ready to deliver any kind of significant change. This incident makes any kind of comparison of Barack Obama to John F. Kennedy laughable. John F. Kennedy at least spoke out against the Fed, secret societies, and other powerful entities influencing government. Obama merely talks about “change” and “hope” as if simply talking about them will make things better and McCain simply parrots Obama and hides behind the skirts of a feisty woman in hopes she’ll win him the election. It breaks my heart to think 100 million honest, hard working people will waste their votes on one of these two undeserving men instead of voting for another choice.The Senate showed just how despicable it was during this farce. They decided to override all proper legislative procedures and introduce into the house their version of the bill using a legislative “trick” to put pressure on the peoples’ representatives to pass a bad bill. Like Mr. Stranger Danger trying to entice a child into his car, they loaded the bill with a bunch of “treats” in an effort to get the people of this country to climb on board. Perhaps the common folk of this country weren’t foolish enough to climb into such a vehicle, we were taught better than to trust a stranger with candy, but the majority of our representatives apparently couldn’t resist the temptation.On the other side of the coin, the banking industry was trying to frighten us into submission. They were threatening economic holocaust should the bill not pass. They were threatening a total collapse of our entire economy if the bill should fail. We were supposed to shake and quake in fear and submit to their demands. They acted as if the economy depended upon a few big banks distributing money. They acted as if they were the ones in control of the economy instead of the markets being free and left to obey the dictates of supply and demand. Perhaps they are right as they have built a fraudulent system predicated upon their ability to extend credit rather than a system based upon honest money that one has already earned. Though the people on Main Street America (a phrase those in power have recently been using) were not frightened by the scare tactics of the moneyed interests, our representatives apparently were.Now I believe in the people of this great nation of ours and I believe that we would continue to do business with each other even if the credit system collapsed, but I’ve also no doubt that those in power with all that money could indeed do great damage to our economy if they so wished. If this is so, wouldn’t it make more sense to take the credit issuing system out of the hands of private interests like the Federal Reserve and integrate it back into the Treasury Department so at the very least the people don’t have to pay interest when they borrow their own money? The Constitution of this great nation spells out that the coinage of money is, after all, the purview of the House of Representatives. Why should we entrust our system of money and credit to those who would use it as a means to blackmail us?But that is another point perhaps to be revisited upon on another day. Right now, I’m more concerned with the total breakdown of our system of governance. It starts with the leadership. We are supposed to take their advice into consideration. In this case, we did, and the people decided they didn’t like the advice they were being given by an administration that has constantly lied to us. It trickled down to the Senate whose members can perhaps get passes because it can be argued that they are supposed to be looking after the best interests of the state they represent, not necessarily the people of that state. It is a weak argument, but a valid one. It is in the House of Representatives, where the members are supposed to carry out the will of their constituents, not their own personal will, that the breakdown was most evident.By all accounts, something happened in congress that was unprecedented during the last few days. Many people actually took the time to write, email or phone their congress critters in the hopes that this time their voices would be heard and someone would pay attention to them. The people of this country overwhelmingly told their congressmen to vote against this bailout bill. They did what they were supposed to do. They participated in the system that is supposed to represent the will of the people. But instead of being listened to, the people found that their pleas fell upon too many deaf ears. Even the Representatives in the people’s house no longer care what the people have to say. Even they are beholden to the moneyed interests.Perhaps Nancy Pelosi, the Speaker of the House, best illustrates the disdain for the people these Representatives seem to have. The powerful, magnificent, all knowing Nancy Pelosi reportedly said that the people of her district were uninformed when asked about the overwhelming numbers who had taken the time to write, email or phone her concerned that she would vote “yes” for a bailout bill and asking that she vote “no.” She didn’t care what the people of her district thought or felt. This almighty, omnipotent being knew better than her lowly, uninformed subjects. She wasn’t going to put aside her own feelings and vote the will of the people she represents, which is supposed to be her job. She wasn’t even going to try to slow down the passage of the bill so that she could explain to the people in her district why she felt the bill was necessary and try to change their minds. To her, it wasn’t important that they understand, as long as she did. No, she’d simply vote against the will of the people of her district and call them ignorant. The same was true for all the other congressmen who followed her lead and voted for the bailout.I hope you were paying attention. I hope everyone was paying attention. It became obvious to me years and perhaps even decades ago that voting, especially at the federal level, didn’t much matter in the grander scheme of things and that it seemed no matter who ran for office only puppets of the moneyed interests somehow managed to gain office. Whenever a principled politician ran against an establishment candidate it seemed the game was rigged in favor of the establishment candidate. Somehow, despite years of abuse and obvious power brokering, a vast majority of incumbents manage to get re-elected. I’m hoping against hope it will be different this year. I’m hoping to see every congress critter who voted for this bill voted out of office, no matter his party, no matter how you feel about party politics. It would be nice to see such vacancies taken by principled men and women of third parties, but simply voting out those 263 members who voted for this bill against the will of the people of their districts would send a very powerful message, and I have the feeling that in order to accomplish this they will have to be overwhelmingly voted out.Watching the events of last week has given me hope, and I believe it has given many other freedom loving individuals hope as well. Even though we seemingly lost a very important battle, I at least have seen some encouraging happenings. The people of this great nation of ours are awakening. They have grown sick and tired of the very powerful and the very wealthy manipulating our system of government. They have shown they want to take the government back and make it fairer for all. They have shown they want to take part in the decision making processes. They have shown they care. They did things the way they were supposed to do things in order to create peaceful change, and they were still frustrated, so now it becomes necessary to speak at the voting both. I can only hope the polls aren’t rigged. If they are, then God help us all.In 1962 in a speech at the White House, John F. Kennedy said, “Those who make peaceful revolution impossible will make violent revolution inevitable.” Let us hope his words are not prophetic. Let us hope that there is no one behind the scenes making peaceful revolution impossible. 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Kentucky vacation cabin rental gives a feel of home at holidaying destination. It provides comfort and doesn’t let the person feel that he is away from home. It embraces of all facilities such as refrigerators, washer, laundry, etc. In addition to that it also consist of fully furnished kitchen which contains all basic utensils and required material which are needed while cooking food. He is asked to pay rent in return of all these services. The rent of the vacation cabin rental in Kentucky depends on the size and location of the cabin rental.

As the 88 federal Lawmakers get into gear to once again attempt a fresh change of the nation’s law books, I cannot but fervently pray for them to succeed because we wish it; we yearn for it and we want it. It is not the number of states in the country that matters but the degree of development we are able to attain. Unlike people who show irritation for the creation of new states in the country, we believe that creation of states has to a large extent brought about development, the development itself may not be the fulfilling one as expected but development has come with it. It is my personal belief that the Lawmakers also know the relevance of this to the growth of the country. Quite optimistically, the creation of new states in Nigeria is possible, and with serious commitment, dedication, hard-work and patriotism, the nation will come alive with creation of new states because we recognize the impact of this. Although the efforts of the Lawmakers have been described as seeming eagerness and as a “mission impossible” by certain high profile politicians in our society, I know it takes unbiased review of the constitution to become a possibility, and not an exercise in futility as many may want us to assume. We are told that creation of states is not what we need to bring more development to the country, but we forget too soon that creation of new states came with it employment, it is a now a huge assignment for anyone to reckon how many people have found employment in all the public organizations provided by all the states created in 1991. I stand my ground firmly in demonstration that creation of states is the only large national exercise in this country that has brought about development, and this is where military regimes have scored their highest points. Creations of states have proved useful in the pre and post civil War times of Nigeria. Economic policies like the Green Revolution and Operation Feed the Nation failed us completely. Socially, MAMSA and WAI failed us, national educational policies have failed us too and population exercises in which the population of certain regions and states of the nation are deliberately reduced have offered us no results in reality but new states created have stood the test of time. Today we easily forget that the number of Airports in the country has increased courtesy of creation of new states. 36 new state capitals are in existence in the country, and all of these state capitals have Bank Headquarters, Government Agencies and other employment tools. We should realize that creations of more states in the country readily provide development to communities once hidden from Government investment plans. This is what happens when a community in Nigeria located within another state distant in kinship and other necessary affinities, remains grossly underdeveloped. This underdevelopment happen too because sometimes there are many communities scattered within a state, and the resources to cater for all of them are scarce. We know also that many of our leaders concentrate their so-called developmental policies only their own communities and home towns to the detriment of other existing communities. These things happen and we realize it only when we fail to pretend. Igbanke an Anioma community artificially situated in Edo State in Nigeria’s political map can be argued to be the least developed community in Edo State. This community perhaps may have seen a little more light of development if allowed to join their kinsmen in Delta State or better still, the Anioma State if created.

Creation of more states no matter how we reason it has its own advantages. We mainly become oblivious uncontrovertibly that the number of politicians jostling to occupy political offices soars because there are states to accommodate them. 36 Houses of Assembly, with 36 speakers, 36 deputy Speakers exist, I have since lost count of the number of councilors in existence in the country. It is a certainly a question for Frank Edoho’s Who Wants to Be a Millionaire program. Did Tinubu not steadfastly argue that he was bent on creating more Local Government Areas for Lagos State to enhance development and take it to the grassroots? Creation of new states will also help to create balance in the country, the opponents of this exercise drumming and gathering imaginary supports forget that in this country there are some geo-political regions with less number of states and their contributions on this basis are egregiously affected, and until this is rectified Federal Character and Quota systems, two babies of the Federal Government will remain irrelevant and unachievable in whatever cause we are glibly told it is meant to achieve. The South-Zone has only five states while there are some geo-political zones with as much as 8 states. On what basis did we arrive at this? I try to ask myself this question on daily basis. How many states make up the northern region of the country and how many states make up the southern region of the country? Creation of more states must try to answer this questions no matter how opponents see it.

The crafters of our constitution deliberately made state creation not only difficult and rigorous but near impossibility, the idea I gather may have been to maintain sanity but this becomes only achievable if there is balance in place. This 1999 constitution remains an off-shoot of the 1977 constitution which represents the interest of the military for the country. This is what the constitution review team must address. The litany of contradictions and omissions paraded in the law book must be reviewed for more purposeful governance.  Tenure elongation became the major factor that marred the two attempts made in 1999 and 2007 at reviewing the constitution and removing certain imbalances therein under the leadership of Olusegun Obasanjo, whose leadership recognized this but hie quest for third term extension of his office put an abrupt end to what would have been a perfect opportunity to correct this anomalies. In announcing the emergence of new states in the country, all the past state creators neglected to create ANIOMA STATE, an agitation which has been in existence since 1951. The proposed Anioma State is defined with a group of people with unity of minds, culture and linguistics who have expressed strong determination to live within a state of their own. The region is a viable one with abundant mineral and human resources, the region with its abundant oil wealth contributes to the growth and development of the nation. The human viability of the region has also been of great significance to the running of the nation, the sustainable economy of the region uniquely larger than most of the states presently existing in the country are indeed immense. The region has one of its communities as the capital of Delta State but pundits believe that Delta State as presently constituted with diverse peoples needs about 2 more states to be carved out from it. Anioma remains the best state yet uncreated, it is as a result of this that I make my strong appeal  to the Joint Committee on Constitution Review (JCCR) with the membership of Deputy Senate President, Ike Ekweremadu, the Deputy Speaker of the House of representatives, Usman Nafada, and 13 other members, each of the members produced from each geo-political zones, the one member from the senate and another onemember from the Lower House to please avoid the mistake made in the past when the creation of the state was neglected. The Anioma state if created should be allowed to remain in the South-South zone as naturally situated. We know that when created the Anioma State will contribute more the progress of the country.

Between now and Election Day, you will see both Barack Obama and John McCain campaigning almost exclusively in these twelve states. If you happen to live in any of these states, you should be preparing yourself for a media blitz that will surely make you dream of a quiet, remote vacation long before Election Day. Over the next several months, political pundits will refer to these dozen states as the battleground for the 2008 Presidential election.
A combination of recent polling, state voting demographics, and political history is a powerful formula that can be used to predict the likely outcome of thirty eight American states. In fact, if both candidates run a respectable and credible campaign, today’s polling results in these thirty eight states should not be much different than the actual results on Election Day.
The truth is that when reviewing the 2008 electoral map, Republican John McCain can now count on 174 safe electoral votes, while Democrat Barack Obama can feel comfortable winning 204. Therefore, it is the voting in only twelve states, representing 160 electoral votes, that will ultimately determine the outcome in this Presidential election. An outcome that requires the next President of the United States to obtain a minimum of 270 electoral votes on Election Day.
The twelve battleground states that will decide the 2008 Presidential election are; Florida, Missouri, Ohio, Nevada, Colorado, Iowa, Wisconsin, Pennsylvania, Michigan, New Mexico, North Carolina, and Virginia. Let’s briefly look at these battleground states in the 2008 Presidential election.
Florida has voted Republican with its 27 electoral votes in each of the last two Presidential elections. Of course, we remember how close the voting was in 2000 when a few thousand votes determined the outcome for Republican President, George W. Bush. Currently, the state has a popular Republican Governor in Charlie Crist, who is also a potential candidate for Vice President on the Republican ticket. Recent public opinion polls in Florida shows that Republican John McCain has a double digit lead over Democrat Barack Obama.
Missouri almost always cast its ballot for the candidate who wins the White House. In fact, with the exception of 1956, no candidate since 1904 ever has won a Presidential election without winning the state of Missouri. Current polls indicate a dead heat in the race to capture Missouri’s 11 electoral votes in Election 2008.
No Republican has ever won the White House without winning Ohio’s 20 electoral votes. In fact, no candidate has won the Presidency without winning Ohio since 1960. Current polls show both political candidates in a statistical dead heat in the Buckeye state.
The states of Colorado, Iowa, Nevada, and New Mexico in total account for 28 electoral votes. Democrat Barack Obama enjoys a modest lead in recent polls in Colorado and New Mexico. Both these states voted Republican in the 2004 Presidential election. John McCain maintains a modest lead in Nevada while Barack Obama holds a lead in Iowa. If this recent trend continues, Nevada will vote for the same party as it did in 2004. However, a Democratic win in Iowa would be a change from the result in the Presidential election of four years ago.
Pennsylvania voted for the Democratic candidate in each of the last two Presidential elections. However, the final margin of victory was very small. Recent polls indicate another very close election in 2008 to win the state’s 21 electoral votes.
Michigan has cast its 17 Electoral College votes for the Democrats in each of the last four Presidential elections. However the margin of Democratic victory in 2004 was very slim. Recent polls indicate another very close race between Barack Obama and John McCain in 2008.
As far as the final three 2008 battleground states are concerned, Wisconsin’s 10 Electoral votes went Democratic by a very close margin in the last Presidential election. Recent polls show another very close vote is likely in 2008 as well. Both Virginia and North Carolina (total of 28 electoral votes) were found in the Republican column four years ago. John McCain holds very slim leads in both states in public opinion polls at the current time.
The party primaries are now over and the fall Presidential election campaign is about to begin. During the next several months, there will be televised debates, and the usual give and take of any Presidential campaign.
However, the truth is that in order to win on Election Day, each of the candidates have to work to deliver the right political message. It will need to be a message designed to win in America’s political battleground, the twelve swing states of Election 2008.

Ben Nelson must have felt like a punching bag.The Democrat was the center of attention at a rally in downtown Omaha on Sunday — and much of the attention was unfavorable, as opponents of the health care legislation in Congress expressed outrage with his decision to cast the crucial 60th vote in favor of the Senate bill.About 1,800 people attended the rally, whose star attraction was 2008 Republican presidential candidate Mike Huckabee. The crowd at the Civic Auditorium was revved up, calling Nelson a “traitor” and a “sellout” and booing whenever his named was mentioned.Huckabee urged the people, when they go to the polls, to remember the names of the politicians who voted for the bill.If a congressman stood proud and strong, reward them with re-election,” Huckabee said. “If they didn’t, bring them home.”Some Republicans are saying that Nelson’s support of the health care bill could be his political Waterloo if he decides to run for re-election in 2012. They are calling it a “death knell” to his career.But supporters point out that the next Senate election in Nebraska is three years away and that, by then, the health care bill may not be the hot potato it is today. Issues come and issues go; for instance, the economy overshadowed the Iraq war at the start of the 2008 presidential race.In addition, Nelson will assuredly have the support of a Democratic base that has long wanted a health care overhaul.“Ben has done so many things for the people of this state. I would be amazed if one single issue that had to be addressed would change the outcome of an election,” said Anne Boyle, former chairwoman of the Nebraska Democratic Party. “I’m certain he would win again, if he decided to run again.”One Democrat who has been in Nelson’s shoes agreed with Boyle.Former Sen. Bob Kerrey drew considerable heat in 1993 when he voted for then-President Bill Clinton’s budget-cutting package, which included an array of tax increases.Kerrey, too, was the swing vote. And, like Nelson, Kerrey drew national attention as he publicly anguished over whether to vote for the bill.A month after the vote, Kerrey returned to the state and was confronted by angry Nebraskans. But a year later, in his re-election bid, he defeated Republican Jan Stoney by 10 percentage points.Kerrey said Sunday he believes that Republicans will try to make health care an issue in 2012 if Nelson runs for re-election. But by then, Kerrey said, voters may see the benefits of the bill — or at least be more comfortable with the legislation.“I do not think this will damage Sen. Nelson’s political career or haunt him if he runs in 2012,” Kerrey said. “Faced with the multiple challenges health care presents to states and the nation, I’d rather defend an ‘aye’ vote than a ‘nay.’”The people at the rally expressed deep disappointment with Nelson, especially his abortion compromise and his agreement with the Senate leadership that secured full federal funding for Nebraska’s expanded Medicaid coverage, while leaving other states out.Opponents of Nelson’s decision said the compromise amounted to a bribe.Republican George Skidmore, 52, an accountant, said he voted for Nelson in the last election but will never do it again.“It feels like he took a bribe for his vote,” Skidmore said.Nelson said he had suggested that the bill include some Medicaid help for all states, but Senate Majority Leader Harry Reid of Nevada decided on Nebraska-specific language.Numerous GOP state senators and other elected officials attended the Sunday rally. Pete Ricketts, who challenged Nelson for his Senate seat in 2006, also attended.Many in the audience said they feared that the bill would lead to rising debt and a government takeover of health care.They carried signs that read “Give Ben the boot.” One person arrived in a pickup with what appeared to be a cardboard house in back. It read: “Nelsonville Housing. This is your house after health care.”People at the rally signed petitions urging Nelson to reconsider his support of the bill.The fallout from Nelson’s decision wasn’t limited to the rally.Nebraska Republican Gov. Dave Heineman criticized Nelson on Sunday for agreeing to the Medicaid deal.“Nebraskans did not ask for a special deal, only a fair deal,” Heineman said.In addition, Nelson has drawn the ire of Nebraska Right to Life and the Nebraska Catholic Conference because of the abortion compromise.Huckabee told the crowd at the rally he thinks the bill was an attack on citizens’ liberty. He especially opposes a measure in the bill that would require all Americans to purchase health insurance or face a fine or penalty.“What happened to liberty in this country, where we made our own choices?” he asked.Huckabee said in an interview before the rally that he thinks health care costs can be reduced if more emphasis is placed on prevention. Incentives could be developed to get people to watch their weight, exercise and stop smoking.During his presidential campaign, Huckabee also supported the idea that Americans should be responsible for buying their own health insurance instead of relying on their employers for it.If people purchased their own insurance, they could keep it if they found another job, he said.Huckabee also argued that it was not a good system when someone buys a product for another person. Americans could become better health care consumers if they shopped on the open market for their own insurance, he said.“If you pay for it, you’re going to have a much better understanding of what you’re going to be getting.”

As part of an organized global effort to reduce the inconsistent measurement of fair value and the application of impairment guidance for financial assets, FASB has taken swift action with rapid expansion of fair value accounting guidance intended to provide relevant and transparent information to users of financial statements.  Similarly, IASB has developed a timeframe for increasing guidance pertaining to recognition and measurement of financial instruments.  FASB and IASB collaboration on these projects is paramount due to the impending convergence towards a common, international standard of financial reporting.  While the markets’ decline appear to have leveled off through the first half of 2009, establishing fair value for certain investments and assessing asset impairment will continue to be challenging aspects of the 2009 financial statement reporting process due to new and developing  pronouncements from domestic and international standard setting organizations.The Evolution of Investment Accounting for Insurance EnterprisesIn 1982, FASB issued SFAS 60, Accounting for Insurance Enterprises, which established accounting guidance specific in nature to insurance companies.  SFAS 60 required that insurance companies carry fixed maturity securities at amortized cost and equity securities at fair value. Fluctuations in fair value were reflected as unrealized gains and losses within the equity component of the balance sheet, and gains and losses realized upon disposal were recognized within earnings.  SFAS 60 introduced the concept of ‘other than temporary’ decline in fair value, but merely mandated that such declines be recognized as if a sale had occurred.More than a decade later in 1993, SFAS 115, Accounting for Certain Investments in Debt and Equity Securities, superseded the investment accounting guidance offered by SFAS 60 and established a new, categorical method for investment accounting with the introduction of the categories trading securities, available-for-sale securities and held-to-maturity securities.  A major development surfaced by SFAS 115 was the need to recognize market value fluctuations as a component of earnings for securities classified in the trading category.  SFAS 115 retained the ‘other than temporary’ decline concept introduced in SFAS 60, and brought greater prominence to the concept of ‘intent to hold’ as a means of justifying the classification of fixed maturity securities in the held-to-maturity category.    There were several shortcomings of SFAS 60 and SFAS 115 that were not fully exposed until the bull market, which began in the 90’s, was abruptly shifted into reverse during 2008. Specifically, the need for meticulous impairment analysis and the consideration of valuation when confronted with inactive markets were not exceedingly germane. The generally long-running bull market created an environment in which the concepts of ‘other than temporary’ and ‘intent & ability to hold’ did not require extensive analysis; bright line tests such as the ‘20% / 6-months’ approach successfully weeded out the truly poor performing assets. Further, functional markets with high volumes of activity and pervasive asset inflation did not leave many people questioning the significance of a fair value methodology.  While the economic crisis of 2008 lead to the recent barrage of accounting guidance, there existed a severe, but relatively short-lived market slide subsequent to the dot-com bust and 9/11 that sparked dialogue regarding the matters raised in the preceding paragraph. In 2005, FASB issued a Staff Position (“FSP”), FSP 115-1, which established a framework to evaluate impairment on a security-by-security basis, the severity of the impairment, and the likelihood of recovery prior to an anticipated disposal. Unfortunately, the guidance offered in FSP 115-1 was subjective and created significant inconsistency in evaluating other than temporary impairment (“OTTI”), which surfaced in the insurance industry during the 2008 financial statement reporting process, when comparing the aggressiveness (or lack thereof) of impairment charges taken by one carrier to the next. While it isn’t extraordinary for two companies to reach different conclusions regarding OTTI for a particular security, due to differing conclusions about intent & ability to hold and assumptions about recoverability of the security valuation, the difficulty that exists for users of financial statements when attempting to compare one company’s performance to another is great.With regard to the matter of valuation, in 2006, FASB issued SFAS 157, Fair Value Measurements, which offered a methodology for the determination of fair value and expanded fair value disclosure requirements.  SFAS 157 did not change the recognition requirements of SFAS 115; rather SFAS 157 provided a common definition of ‘fair value’, information regarding the markets that companies should look to when measuring fair value, discussed various measurement techniques for assessing fair value, and introduced a hierarchical approach, based on inputs used to determine fair value, to enhance disclosures regarding the fair value measurement process.  Unfortunately, SFAS 157 was not as clear as the standard setters had envisioned; since its original release, several FSPs and other guidance have been issued to offer clarity on the application of SFAS 157.A Cry for Help – Recent Accounting Guidance in Response to the Economic CrisisWhile one could write for weeks about what has stemmed from the recent economic crisis, the most relevant to this piece would be the SEC’s study on mark-to-market accounting, and the flow of new accounting pronouncements that has ensued subsequent to the study. In the past nine months, there have been three significant new pronouncements, each of which attempts to address issues that have arisen as a result of the economic crisis, and in response to the recommendations set forth by the SEC and reinforced by Congress:

FSP 157-3, Determining the Fair Value of a Financial Asset When the Market for That Asset Is Not Active FSP 157-4, Determining Fair Value When the Volume and Level of Activity for the Asset or Liability Have Significantly Decreased and Identifying Transactions That Are Not Orderly FSP 115-2, Recognition and Presentation of Other-Than-Temporary Impairments FSP 157-3 was released in late 2008 at a time when markets for many types of investments became dysfunctional, leaving financial statement preparers in a precarious position when assessing fair value. FAS 157-3 retained the notion that fair value is the “price that would be received to sell an asset or paid to transfer a liability in an orderly transaction (that is, not a forced liquidation or distressed sale) between market participants at the measurement date under current market conditions.” The predominant interpretation of SFAS 157 was that the maximized use of observable inputs required companies to utilize recent, unadjusted transaction prices for identical or similar assets in active or inactive markets (observable inputs). FSP 157-3 acknowledged that in some circumstances, observable inputs might require significant adjustment based on unobservable data, such as management’s internally generated assumptions and analyses. FSP 157-4 took a step back from FSP 157-3 to pose the question, “How would one know when a market is considered to be inactive?”, and also attempts to address the determination of a disorderly transaction. This FSP provided some common indicators of an inactive market (e.g. few recent transactions, wide bid-ask spread, etc.), and indicated that if an investment is determined to have significantly decreased volume and level of activity, reporting entities should determine if observable transactions were conducted in an orderly fashion.  Indicators of a disorderly transaction include, among others, inadequate exposure to the market, the seller is in or near bankruptcy or receivership, or the seller was required to sell to meet regulatory or legal requirements.  If the reporting entity determines observable prices obtained do not stem from an orderly transaction, other valuation techniques should be utilized.  FSP 157-4 does not specify valuation techniques to determine the fair value of an investment (i.e. discounted cash flow models or intrinsic value methodologies); however FSP 157-4 requires footnote disclosure of the valuation techniques utilized in determination of fair value of investments.FSP 157-3 and 157-4 effectively offered greater flexibility to move to a level three methodology, thus placing lesser reliance on market transactions that many perceived to be anything but accurate representations of fair value.  FASP 157-4 also introduced the notion of using multiple valuation techniques, thereby creating a range from which a best estimate of fair value might be determined.In April 2009, FASB issued FSP 115-2, which addresses suggestions presented in the SEC study and provides additional guidance for identifying conditions for impairing debt securities.  Prior OTTI guidance focused on the “intent and ability to hold a security” as the impetus for impairment recognition, while FSP 115-2 focuses on “whether the entity (a) has the intent to sell the debt security, (b) more likely than not will be required to sell the debt security before its anticipated recovery, or (c) does not expect to recover the entire amortized cost basis of the security.”  In the event a reporting entity does not meet the criteria of (a) and (b) above, but does meet criteria (c), the impairment guidance presented in FSP 115-2 expand reporting requirements by bifurcating (a word that should ignite fear in the world of accounting!) declines in the fair value of debt securities between declines derived from credit related factors and those derived from “all other factors”. If the report entity determines that either (a) or (b) are met, all losses will be recognized in a charge to earnings.  Under the FSP 115-2 bifurcation guidance, credit related losses result in a charge to earnings (similar to prior OTTI guidance), while non-credit related impairment will be recognized as a component of other comprehensive income (similar to prior treatment of unrealized losses).  As demonstrated by the example below, the bifurcation guidance of FSP 115-2 has no net impact to an insurance company’s GAAP equity; however, the bifurcation process will present different earnings figures than would have been presented following previous OTTI guidance, and will require more extensive record keeping on a security-by-security basis. MBS cost basis                                                                                       $980,000         A 12/31-09 trading value                                                                          $480,000         B Hypothetical risk-weighted cash flows based on current assumption    $800,000         C Impairment under previous guidance (A-B) recognized  in earnings      $500,000 Impairment under FSP 115-2 (A-C) recognized  in earnings                   $180,000 Impairment under FSP 115-2 (C-B) recognized  comprehensive income $320,000 A Glimpse to the FutureWe are currently three years into a joint commitment by FASB and IASB to improve and converge financial reporting standards, with specific, long-term objectives related to financial instruments including developing a new standard for the derecognition of financial instruments; requiring fair value measurement for all financial instruments with timely recognition of gains and losses; and simplification and/or elimination of special hedge accounting requirements. IASB elected to follow a three-phase timeline, focused first on classification and measurement, next on impairment of financial instruments and finally to address hedge reporting requirements. FASB, on the other hand, indicated a desire to address recognition, measurement and impairment simultaneously, with a subsequent focus on hedge accounting. While the two groups are progressing down slightly different paths and timelines, great consistency can be expected in the final products released by both FASB and IASB, to promote the convergence of reporting standards. Both groups are committed to final standards for the 2011 or 2012 reporting period(s).IASB First to StrikeIn July 2009, IASB issued Exposure Draft (“ED”) ED/2009/7, Financial Instruments: Classification and Measurement, containing proposals on the first phase of IASB’s project. This ED is open for public comment until September 14, 2009 and can be found on IASB’s website (www.IASB.org).  The primary focus of this ED is to reduce complexity associated with financial instrument classification and measurement, and to remove inconsistencies between IFRS and U.S. GAAP. Currently, international standards provide for many categories of financial instruments with varying impairment methodologies – this ED seeks to consolidate the classification requirement into two categories: amortized cost and fair value.  Essentially, a financial instrument that has basic loan features and is managed on a contractual yield basis would qualify for measurement at amortized cost, unless management makes an irrevocable election to measure the instrument at fair value through profit or loss. Any financial instruments not meeting the amortized cost criteria, including all equity instruments, would require fair value measurement. Examples of financial instruments meeting the amortized cost criteria include many debt securities, typical loans and trade accounts receivable, so long as they’re not held for trading purposes or acquired at discounts that reflect incurred credit losses. A significant change tabled in this ED is the recognition of unrealized gains and losses (for fair value instruments) through profit and loss, unless management irrevocably opts for recognition of unrealized gains and losses on equity securities through comprehensive income for instruments not held for trading purposes. If such an election is made, all gains and losses (including dividends) on the equity security would be recognized in comprehensive income with no recycling of gains and losses to earnings; thus, impairment analysis would be unnecessary for these instruments. Ultimately, the proposals in this ED would eliminate the need for impairment evaluation for all but those securities measured at amortized cost.IASB expects to release another ED in October 2009 containing proposals on an impairment methodology for instruments measured at amortized cost, with a third ED in December 2009 addressing the simplification of hedge accounting.Domestic DevelopmentsFASB met on July 15, 2009 to deliberate categorization and measurement and recognition methods for financial statements; minutes for the meeting are not yet available, however FASB expects to release an ED during the fourth quarter of 2009 with proposals on these topics.  FASB did reach several decisions at the meeting including the measurement of all financial instruments (with limited exceptions) at fair value, with unrealized gains and losses recognized in net income or comprehensive income. Presentation of fair value changes in comprehensive income would be allowable only on the basis of “qualifying criteria related to an entity’s management intent/business model and the cash flow variability of the instrument”.  Fair value changes for all instruments not meeting such criteria, including derivatives, equity securities and hybrid instruments would be required to be presented in net income. Interest and dividends, as well as credit impairments (see earlier discussion of FSP 115-2) and realized gains and losses, would continue to be presented in net income. Organizations will need to classify instruments at initial recognition, and subsequent reclassification would not be permitted.While these decisions are certainly inconclusive and tentative, there do appear to be some inconsistencies when compared to the ED released by IASB; such inconsistencies can be expected to be reconciled by FASB and IASB as the groups continue working towards convergence. Primarily, FASB appears to prefer elimination of the amortized cost method of measurement, with minor exceptions, while IASB continues to see relevance in multiple measurement bases. Both bodies seem to recognize the concept of “management’s intent”; FASB for purposes of determining the geography of unrealized gains and losses, while IASB’s ED would allow for measurement of certain instruments at amortized cost if management’s intent is other than trading. One notable consistency coming through is the likely elimination of impairment analyses for equity securities, given the proposals regarding presentation of fair value changes for such instruments.A Final ThoughtIn case anyone in the financial reporting arena has been comfortable in recent years, be advised you should continue to hold onto your seats for the foreseeable future. We find ourselves in an environment where not only is the business landscape rapidly evolving (as it always has), but this economic crisis has instigated a level of political involvement that standard setters, financial statement preparers and users have not previously witnessed.  Bifurcation of impairments, converging global standards and principles based guidance (just to name a few) will leave preparers, auditors, regulators and users facing an arduous learning curve. The changes coming our way will be served in the name of transparency and reduced complexity, but be assured it will feel anything but clear and simple!

Struggling homeowners who’ve been considering filing Chapter 13 bankruptcy may soon receive good news. A new piece of legislation referred to formally as the “Helping Families Save Their Home Act,” or more commonly as the “cram down bill,” is on its way to the Senate. Designed to complement President Obama’s strategies to quell the nation’s foreclosure and economic crises, the cram down bill would allow bankruptcy judges to modify the terms of a person’s mortgage if they face losing their property to foreclosure.Under the proposed bill, judges could reduce the loan’s interest rate, lengthen the loan term, and decrease the principal amount owed. All of these actions would ultimately result in lower monthly payments for the homeowner, and allow him and his family to remain in the home.Loan modification is not a new solution for distressed homeowners, but lenders currently only modify loans on a voluntarily basis. Lenders have all the power, and homeowners are subject to whatever agreement the bank sets out. With the new cram down legislation however, bankruptcy judges will be able to override stubborn lenders, and help families save their homes While the cram down bill would certainly help those who are facing bankruptcy and foreclosure, the bill also has the potential to strengthen our economy as a whole.Wherever there is a foreclosure, the property value of every home on the street is affected. This in turn upsets the economic viability of entire neighborhoods and communities, then states, then the nation. With global markets in such dire straits as they’re currently in, it’s critical that the number of foreclosures in this country is quelled. The cram down bill is but one measure planned to help achieve this goal.Mortgage companies, some moderate Democrats, and a large number of Republicans are opposed to the cram down bill, arguing that it’ll only make matters worse. Not only do lenders face the prospect of losing money on these modified loans, but some believe that a proposal like this only serves to reward the financially irresponsible, and punish those who practiced fiscal restraint. While it is certainly true that many Americans purchased homes that were beyond their means, it is also true that lenders must own their share of the responsibility for issuing loans to people who had no reasonable hope of affording them. Regardless of who is to blame, the time has come to look forward. No one can change what happened, so it’s time to pull together and come up with practical solutions.Banks and major corporations have received bail-out funds, so perhaps it’s time to bail out those who truly feel the brunt of the economic crisis—the average homeowner. With layoffs occurring in record numbers and property values continuing to plummet in some regions, many Americans are feeling this recession with acuity. People are struggling to feed their families, fear is setting in, and the economy is slowing down even further. Perhaps the cram down bill will give desperate homeowners a much-needed break—a bail out if you will, so that they won’t end up on the streets. Perhaps with their new monthly savings, they can pump money back into the system, and invigorate this slumping economy. How novel a concept—economic revival from the bottom up.The cram down bill is slated to be taken up by Senate after the April recess.