| Volume 34 Number 7 |
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The People’s Lawyer’s Tip of the Day
Writing a post-dated check is a good idea when you don't have the money in the bank but will soon, right? Wrong! As a general rule a post-dated check may be paid by your bank at anytime. My advice: do not write a post-dated check if you don't have the money in the bank. Click here for more.
Stimulus Package Passes
The stimulus is final, but not without it's controversy. The final version of the stimulus passed the House of Representatives by a vote of 246 to 182, without a single republican vote. It passed the Senate with the minimum 60 votes, including only three republican votes. The American Recovery and Reinvestment Act of 2009 will cost $787 billion. The ultimate goal? To quickly turn around the crumbling US economy while producing long term viability. Why was there so much disagreement over the largest stimulus in United States history? Click here for more.
Breaking Down the Stimulus Package
Now that congress has passed the economic recovery plan, you may ask how it will affect your wallet. The act, which reads over 1,000 pages long, includes many provisions geared to put money directly in your pocket. The bill provides a $400 credit per worker and a $800 credit per dual-earner couple. There is a temporary deduction for car buyers. First time home buyers can receive an $8,000 credit. Heath insurance benefits, unemployment assistance, food stamp programs, and many other forms of federal help are available in the massive recovery project. How much help can you expect? Click here for more.
Deadline for Detroit Automakers
When GM and Chrysler took federal aid in December, they were required by the agreement to show that they can be viable for the long-term. By Tuesday of this week, both companies must demonstrate long-term viability, or the government could recall their loans. Unfortunately, the task will be difficult - auto sales have become dramatically worse since December. The industry is reporting a seasonally adjusted annual sales pace of only 9.5 million cars and light trucks. In order to pull through the worst sales rates in 26 years, GM and Chrysler need to receive further concessions from their creditors while streamlining operations. With plummeting revenues and consistent job cuts, is there still hope for a turn-around? Click here for more.
Your Money
What's the fastest and cheapest way to pay-down your debts? Click here for more.
For the Lawyers
Dental patient can't sue for use of cow bone in graft under state consumer protection act. The Washington Supreme Court has held that a dental patient can't sue under a state consumer protection law for her dentist's use of cow bone for grafting, even though she specifically requested that no animal products be used. The noted that, "The term 'trade' as used by the Consumer Protection Act includes only the entrepreneurial or commercial aspects of professional services, not the substantive quality of services provided." Click here for more.