The age requirement to qualify for a reverse mortgage keeps getting younger. Melville, N.Y.-based Lender Lead Solutions has introduced Simple60, a new reverse mortgage product available to homeowners aged 60 and older. Reverse mortgages offered to date have required that borrowers be at least 62 years old. And couples applying for a reverse mortgage must […]
An initiative has been launched that would make a company liable for any tax costs associated with backdated and misplaced stock options that rank-and-file employees might not have been aware of. Internal Revenue Service Commissioner Mark W. Everson said that the practice of the backdating, which primarily benefited corporate executives and insiders, is widespread and that the initiative would exclude executives and insiders.
Sixteen percent of venture capitalists surveyed nationwide named the Rocky Mountain region as one of the next regions — outside Silicon Valley, New York and New England — poised for growth. That’s not a huge percentage, but it still struck me as significant. So I asked Tom Duening, the El Pomar chair for Business and […]
Many longtime businessmen and -women struggle with how they might fill their days after the time comes to retire — but not Steve Self. Self, who stepped down April 4 after nine years as president of BBVA Compass Bank in Colorado Springs, sees retirement as an opportunity. “I can’t explain the timing,” said the 52-year-old […]
In the latest indication that Central Bank & Trust continues to dominate the local Small Business Administration loan market, the bank has received the SBA’s statewide “Small Lender Award for 2013.” So far this year, CB&T has completed 16 SBA-backed loans in El Paso County, totaling $9.2 million, far more than any other locally based […]
There’s no better time to be generous. The 2010 Tax Relief Act, signed Dec. 17, temporarily raised the tax-exemption threshold for gift and estate giving. The law was set to revert to a $1 million threshold this year, with a maximum tax rate of 55 percent. Instead, the estate tax exemption was increased, during 2011 […]
About 19 percent of the U.S. population has some type of disability, according to the Census Bureau. Of adults — ages 21 to 64 — with disabilities, only 46 percent are employed, compared to 84 percent of adults without disabilities. Many people have children, family members or loved ones who are disabled and need financial […]
John H. Kitchen has been named president of the Colorado Springs market for J.P. Morgan Chase. The announcement comes after former president Wayne Paton left Chase earlier this summer for a job as president of small business and corporate services at Ent Federal Credit Union. Kitchen was formerly president of private client services for J.P. Morgan Chase.
Investors want to know what to do when the stock market loses its upward momentum — especially when downward movement is as sharp and volatile as it has been recently. “The proliferation of information has hurt more people than it’s ever helped,” said Rollyn L. Wild, president of Colorado Springs-based Advisers Investment Management Inc.
The Treasury Department says it has sold nearly 18 million warrants it holds in Atlanta-based SunTrust Banks Inc. The sale helped the government recoup taxpayer money from the $700 billion Wall Street bailout. The department says it will receive $30.1 million from the sale. A warrant gives the purchaser the right to buy SunTrust stock […]