Experian uses public records to generate credit worthiness to those without established credit
Could Experian be the answer to stimulate the economy? If your in the business for credit, it just might.
Credit makes the financial world go ’round. That’s true for major companies, people from different cultural beliefs, first-time home-buyers, and college students as well. Lenders make decisions about the creditworthiness of borrowers based primarily on credit reports and credit scores.
(IJR NEWS 5/31/2012 permission to repost with link and credit only)”How can I get credit with no credit?” seems to be the most sought after Google search result for people eager to know. Experian’s latest intelligence offers solutions to all parties involved.
Lenders and merchants rely on credit scores to make decisions about likely customers. A credit score is a synopsis of the information in your credit report, when it is reviewed at that particular moment.
If you do not have credit history, or have only a little credit history, there just isn’t enough data in your file to produce a credit score. In other words, you don’t necessarily have bad credit, it’s just that you don’t have credit. Many financial obligations—like utility bills and rent—don’t affect your credit because they’re typically not reported to the national credit agencies, which are Experian, Equifax, and TransUnion.
This is a widespread problem for 25% of the U.S. population and Experian’s new product might arm banks with enough intelligence to credit this part of the population, and stay within the strict guidelines that banks and merchants are held to when lending money in advance young people and new U.S. residents who are just starting out.
According to Experian, An estimated 80 million consumers have little or no credit history and are unscoreable (not enough credit history to render a credit score) by most traditional credit score models. As a result, these underserved consumers don’t always have access to many lending products.
Experian’s Extended ViewSM score gives you the tools to solve tough risk and underwriting business challenges by offering a complete view of a consumer’s payment behavior while providing new opportunities in the underbanked space to transform consumers’ lives. Analytics are powered by credit data, rental data and comprehensive public record attributes and allow you to:
Experian’s new product solves a century old problem of merchants unable to tap this large group and gives consumers cost-effective credit and financial opportunities. In addition, this allows banks and merchants to remain in regulatory compliance, and generate new, untapped revenue streams.
Businesses now have the tools to start reaching the uncredited populations and there is now new opportunities for those with no credit history.
Ciara – IJR NEWS Journalist
ContactIjrNews@gmail.com
www.ijrnews.com
World Class Journalism
Pacquiao opponent confident in winning the champ
Timothy Bradley so confident, he’s already making credentials for a rematch with Manny Pacquiao
By Kevin Iole | Boxing
![](http://l2.yimg.com/bt/api/res/1.2/ksItvxsSXcryY1f6bLuLqg--/YXBwaWQ9eW5ld3M7cT04NTt3PTYzMA--/http://media.zenfs.com/en/blogs/sptusboxexperts/Bradley-poster.jpg "Timothy Bradley made a poster touting his "rematch" with Manny Pacquiao (Chris Farina/Top Rank)")
Timothy Bradley made a poster touting his “rematch” with Manny Pacquiao (Chris Farina/Top Rank)Timothy Bradley will get his shot at Manny Pacquiao on June 9 at the MGM Grand Garden in Las Vegas in a fight that will be distributed by HBO Pay-Per-View.
If you know the right people — person, actually — you can get a heads up on getting into the rematch.
Bradley is so confident of a win over Pacquiao, who is No. 2 in the Yahoo! Sports pound-for-pound rankings, that when he held a media day at the Fortune Gym in Hollywood, Calif., on Wednesday, he brought some props with him.
A fight credential altered by Timothy Bradley (Chris Farina/Top Rank)Bradley brought altered copies of the poster and credential for his fight with Pacquiao. He lists the date of the fight as Nov. 10, with tickets going on sale on June 10 (the day after their bout in Las Vegas).
Pacquiao is a little better than a 4-1 favorite to beat Bradley, who is No. 8 on the Yahoo! Sports list.
If nothing else, Bradley deserves a pat on the back for his confidence. Hopefully, he’ll fight as confidently as he sounds.
Bradley is 28-0 with 12 knockouts and will be fighting for Pacquiao’s World Boxing Organization welterweight title.
If he is accurate, he’ll be the first man to beat Pacquiao since Erik Morales did it in 2005 in the very same building. Since then, Pacquiao has won 15 in a row, with eight knockouts.
Bradley will get his wish, and save Top Rank a bit of money on printing credentials, with a win. Pacquiao has a rematch clause and will have the option of fighting Bradley again later in the year should he lose the June 9 match.
When Pacquiao was shown the credential prior to his workout at the Wild Card Gym in Hollywood, he simply laughed. Be assured, though, that he won’t be laughing should he have need on June 10 to exercise it.
Porn actor turn killer in Canada
Source: Gay porn actor suspected of dismembering, mailing body parts
- NEW: A gay porn actor is suspected in the killing of his acquaintance, a source says
- NEW: He is suspected of videotaping and posting online the man’s dismemberment
- “We know that he’d been involved in some stuff on the web, that’s for sure,” police say
- “It wasn’t a random attack,” a police spokesman says. “They knew each other.”
(CNN) – A gay porn actor is suspected in the killing of his acquaintance, videotaping and posting online the man’s dismemberment and mailing the severed limbs to different locations in Ottawa, including to a political party’s headquarters, according to a source with direct knowledge of the investigation.
Authorities are searching for Luka Rocco Magnotta, 29, who they say is allegedly responsible for a human torso discovered in Montreal, thought to be linked to a human hand and foot that were separately mailed from Montreal to Ottawa.
Magnotta, also known as Eric Clinton Newman, is a Montreal resident who allegedly knew the victim, identified only as a white male, Montreal police spokesman Ian Lafreniere told reporters on Wednesday.
The suspect has no criminal background, and his image and information related to him were later recovered from a “very graphic” website, Lafreniere said.
The source later confirmed that at least one of the websites examined by authorities was a pornographic site.
It’s possible the body parts all came from the same dismembered victim, Lafreniere said, but police are still awaiting the results of forensic testing for confirmation.
“The two parts of the body that were found in Ottawa… we’ve got all the reasons to believe that it’s linked to our homicide,” he added, referring to the human torso found in Montreal.
Authorities said they are asking the public for help in locating Magnotta, after a “coast-to-coast” warrant was issued for his arrest. Police say they plan to charge him with murder once he’s apprehended.
Body parts found in suspicious package
Lafreniere said authorities have also found other body parts, potentially from the same attack, which is believed to have been committed in Montreal. It would be the 11th homicide there this year.
“It wasn’t a random attack,” Lafreniere noted. “They knew each other.”
Lafreniere added that Magnotta had been “involved in some stuff on the web, that’s for sure,” though he would not elaborate.
The human foot was sent to the Conservative Party of Canada headquarters in Ottawa, prompting a hazardous materials team to investigate. The officers who responded noticed what appeared to be bloodstains on the box, police said.
Ottawa police Sgt. Steve Hodgson told reporters outside the office that the package had been addressed to the Conservative Party. Staffers had begun to open the package before calling police, he said.
The hand was intercepted by workers at a Montreal postal terminal.
Ottawa’s major-crimes unit is checking with other police departments for similar cases and looking back through missing-persons files for any clues, according to Constable Marc Soucy, an Ottawa police spokesman.
“We’re going to look at every avenue,” he said.
In Montreal, the human torso was found behind an apartment building, authorities said.
Death count rises in Italy earthquake
Death toll from Italy earthquake rises
Medolla, Italy (CNN) – The death toll from a 5.8-magnitude earthquake in northern Italy rose to 17 after the discovery of another body, officials said Wednesday, as questions were asked about why factory buildings collapsed.
The latest body was found in the rubble of the collapsed factory in the area of Medolla, Italy’s civil protection agency said.
The prosecutor’s office in the province of Modena, where the quake was centered, opened an investigation Wednesday into the cause of death of the quake victims, many of whom were factory workers.
Most of the modern structures in the area were not damaged, he said, so the fact that some factories collapsed “shows an anomaly that needs investigation.”
Look at high-resolution images of the disaster
The earthquake, which forced thousands of people from their homes, came nine days after a 6.0-magnitude quake struck the same region, killing seven people.
Tuesday’s quake, which struck at about 9 a .m. local when many people had begun work, was followed by dozens of aftershocks. The U.S. Geological Survey recorded one of 5.6 magnitude.
Italian ministers met Wednesday morning and decided on several measures to be taken in the aftermath of the quake.
The government declared a state of emergency in the quake area and set June 4 as a national day of mourning, according to a press statement. An extra two-cent tax will also be added to gasoline to help finance the recovery effort, it said.
Italy’s President Giorgio Napolitano, Prime Minister Mario Monti and the speakers of both Italian houses of parliament on the earthquake met later Wednesday at the presidential palace in Rome to discuss the disaster.
The towns of Mirandola and Cavezzo, northwest of the city of Bologna, were closest to the epicenter, civil protection authorities said.
Witnesses reported on Twitter that Cavezzo was about 70% destroyed. Pictures purportedly from the town, as well as a video stream from Italian newspaper Corriere della Sera, show damaged and destroyed buildings.
Churches and historic structures were among the affected buildings.
In the small town of Novi di Modena, a 65-year-old priest died inside his church as he tried to save its statue of the Madonna.
Construction workers who were out surveying the damage in Medolla were emotional as they spoke of their experiences a day earlier.
Mohmammed Mouhalhal told CNN he was at work when the earthquake struck. He and his fellow construction workers now fear for their jobs and their safety, he said.
He said no one could sleep Tuesday night and they stayed outside for fear of further quakes.
Some 50 tremors were felt in the area overnight.
Italian authorities are still assessing the economic impact of the earthquakes on the region, which lies in northern Italy, the heartland of the country’s manufacturing industry.
Leaders of agricultural and industrial organizations, speaking to Italian media, have estimated the cost of the disaster at nearly one billion euros.
The Italian daily newspaper Repubblica puts the damage to the biomedical industry in Medolla alone at about €600 million ($751 million).
Many cheese makers are also among those affected.
Stefano Berni, president of the consortium that makes Grana Padano, a hard cheese similar to Parmesan, told CNN that some 350,000 whole cheeses, each weighing 40 kilograms (88 pounds), had been shaken to the ground. No more than 40% of those are likely to be salvageable, he said, leading to estimated losses of €70 million ($88 million).
About 600 cheese producers located in the area north of the earthquake epicenter have suffered damage to their production centers and warehouses, he said. About 50,000 families, including the milk producers and cheese makers, work for the industry.
Other factories and warehouses that have not been damaged by the quake will still suffer losses because they have had to halt production for safety checks.
Geophysicist Antonio Piersanti, of the National Institute of Geophysics and Vulcanology, told Corriere della Sera that it was possible more earthquakes could follow in the coming weeks.
The last significant earthquake in this area was in 1571. It was followed by about four years of aftershocks.
Iran still the focus, but for Oscars?
Iran is more than it is usually deemed as in the media. ‘A Separation’ is its silky touch to be called the best…
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At last, Iran is in the news but for a good reason.
It has convinced the entire world that it also has frills of vibrant heritage which is no less quite grand in its own way. Is it? Well, such is the case after one of its films was successful in grabbing the Oscar statuette at the 84th Academy Awards for what could be termed as “a completely different fabric of the Iranian society”.
Though there were several other entries from different countries competing to win the Oscars in foreign language film category (mainly from Israel with its offer “Footnote” which too was a foregone winner), the Iranian movie “A Separation” proved to be too potent in its message and subsequently got away with the most magnificent honor of the movie business. Perhaps, they jury members had already made up their mind to peep into the Iranian history so much so that they went for this touching picture.
The film is based on an ordinary middle-class family living in Tehran and how they come close to being dispersed as they battle through various confrontational issues in their personal lives. Another commendable component that it tries to weigh up so effectively is that they wish to have a life free from the chains of the Iranian regime which is quite insensitive while dealing with its people. Asghar Farahdi, the director of this film said in a heart-felt speech while holding the Oscar prize in his hands, “All the Iranian families are eager to espouse modernity to make a mark in the world. They aren’t narrow-minded people at all. Rather, they dream of unrestricted possibilities.
More importantly, the pride of Iran has amplified further as a result of this stupendous win in its bid to wipe out the constant hovering doubt as to its hideous agendas like proliferation of nuclear weapons. “When there is a frequent exchange of abhorrence and enmity between the West bent on massacring the values of humanity on one side and Iran busy transforming itself on the other, I feel really over the moon by getting this award for something which can give rise to two different cultures coming together and in so doing obliterate the notion of unnecessary wars, “said he.
Considering the euphoria that engulfed all of Iran with its citizens stepping out of their homes onto the street and saying, “I am a jubilant Iranian”, Farahi had nothing but this to point out: “For decades, we have been bickering like immature adolescents that has only brought malice, distrust and sheer disregard for one another. In our hearts rests peace, joy and a determination to love all cultures.” The fact that Iran has come a long way and enjoys a greater deal of freedom and flexibility today is not specious in any way whatsoever. Rivka Cohen who is a septuagenarian fled Iran when she was just in her teens. After spending too much of her time in the west, she decided to come back and was quite startled to see the volume of change the Iranian society had undergone. “I was left speechless with what I saw. It was right there in terms of the judge, the police or for that sake anybody as they were all communicating in such a way that I felt like standing in a western society, “said she. To say the least, for the people of Iran, this huge spectacle is completely equivalent of winning the world cup in sports.
If this Iranian celebration is any indication to go by especially in the Middle East, it only bodes well for the transient peace that the region has been working hard for but hardly comes closer to it. How so? Its arch rival Israel has for a long time been concerned about Iran not giving up on its nuclear aspirations. Though the hardliners on both sides are refusing to get swayed by the growing applause Iranian is being showered upon at the moment, people aren’t ready to go along with what their leaders are plotting behind the scenes. Rather, they are toning their hostile approach down to mingle affably with one another. In the words of Yair Raveh, Israel’s prominent film critic from the Pnai Plus entertainment magazine, this is highly significant as he said: “While watching the movie, I felt quite jealous with the Iranian expertise in filmmaking. They were really outstanding the way this turned out to be. It had everything- no superfluous nonsense except good acting sexed up with high emotions. Besides, they are what we are as a people willing to buy great automobiles and drive them keenly. They too are curious about movies like us cinema buffs.”
Ultimately, it’s a good sign of both countries’ people ready to bury the doggy past and their inclination to rise above the mean politicking they are still not impervious to.
By Nagmani
IJR NEWS Guest writer
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Edit Page ‹ IJR NEWS – World Class Journalism — WordPress.
Worlds smallest artificial heart saves baby’s life
Italy is now the home to the smallest artificial heart and the nicest sports cars on earth
ROME (Reuters) – Italian doctors have saved the life of a 16-month-old boy by implanting the world’s smallest artificial heart to keep the infant alive until a donor was found for a transplant.
The doctors at Rome’s Bambino Gesu hospital said the operation was carried out last month and made public this week. The baby, whose identity has not been disclosed, was kept alive for 13 days before the transplant and is now doing well.
The baby was suffering from dilated myocardiopathy, a heart muscle disease which normally causes stretched or enlarged fibers of the heart. The disease gradually makes the heart weaker, stopping its ability to pump blood effectively.
“This is a milestone,” surgeon Antonio Amodeo told Reuters television, adding that while the device was now used as bridge leading to a transplant, in the future it could be permanent.
Before the implant, the child also had a serious infection around a mechanical pump that had been fitted earlier to support the function of his natural heart.
“From a surgical point of view, this was not really difficult. The only difficulty that we met is that the child was operated on several times before,” he said.
The tiny titanium pump weighs only 11 grams and can handle a blood flow of 1.5 liters a minute. An artificial heart for adults weighs 900 grams.
Amodeo said the baby had become family and his team wanted to do everything to help him.
“The patient was in our intensive care unit since one month of age. So he was a mascot for us, he was one of us,” the doctor said.
“Every day, every hour, for more than one year he was with us. So when we had a problem we couldn’t do anything more than our best,” he said.
Doctors said the device, invented by American Doctor Robert Jarvik, had been previously tested only on animals.
The hospital needed special permission from Jarvik and the Italian health ministry before going ahead with the procedure.
(Writing by Philip Pullella; Editing by Jon Hemming)
High School students can’t get jobs
Number of high-school students with jobs hits 20-year low
By Ben Wolfgang
The Washington Times
Thursday, May 24, 2012
-
Young workers are having a hard time getting even entry-level jobs.
McDonald’s managers, who once hired a lot of first-time workers, now can choose older employees with more experience who don’t have to wait until classes end to show up. (Associated Press)
Did somebody say McJobless?
The American job market is no place for students as the number of employed high schoolers has hit its lowest level in more than 20 years, according to new figures from the National Center for Education Statistics.
In 1990, 32 percent of high school students held jobs, versus just 16 percent now. Blame their elders.
Sectors that traditionally have offered teens their first paying gig — fast-food chains, movie theaters, malls and big-box retailers — have now become the last resorts for out-of-work college graduates or older Americans forced back into the labor force out of sheer financial necessity. The resulting squeeze has left students on the outside looking in.
“By definition, teenage workers get the jobs that are left over,” said Charles Hirschman, a sociology professor at the University of Washington who has studied and written about student employment. “When you can’t find someone else to bag your groceries or work construction, often teenagers are the labor force you can count on to pick up that slack for a low wage. But now, with the recession, everybody has moved down. Those jobs aren’t going to teenagers.”
The decline began in the 1990s, but accelerated in the past decade. It has grown worse since the dawn of the Great Recession, analysts say.
Local McDonald’s managers, for example, are no longer forced to accept young workers who can show up after class. They now have the option to hire older employees with more experience and, in many cases, much more education.
“They think, ‘I can hire this old guy instead. He already knows how to work, so we don’t need to teach him,’ ” said Andrew Sum, director ofNortheastern University’s Center for Labor Market Studies. “It’s a real weakness in our labor market right now. We’re going to need a big increase in demand to turn this around in the short run.”
The crunch is also hitting college students. In 2000, 52 percent of full-time college students worked. That number has now fallen to 40 percent, the National Center for Education Statistics reports.
Some may interpret the NCES numbers as a sign that today’s generation of young people simply has grown lazier, but analysts say that’s not necessarily the case. It’s their opportunity to work, not their desire, that has fallen off a cliff.
“Adolescents, like everybody else, like to spend money. If they have opportunities to work, even if it’s at a local fast-food place, a lot of students would still do that so they can afford to buy new music and new clothes,” Mr. Hirschman said.
For high schoolers, the dream of going to college also plays a role in low employment figures, according to specialists. Their desire to get straight A’s and attend a prestigious university can lead them to spend all their time studying. Parents often encourage that type of laserlike focus on studies at the expense of getting that first job.
“Everybody wants to do it. Every positive thing in life is highly correlated with education. Most adolescents know that, and most parents know that,” Mr. Hirschman said.
In the long run, the trend could produce more and more young adults who lack the basic skills, such as how to interact with a customer, gained while working early in life. The longer a young person goes without a job,Mr. Sum said, the less attractive he or she looks to employers.
“There’s only one way you can learn how to work — you’ve got to work,” he said.
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