Banks and Fiduciary Duty
Does a Bank Have Any Responsibility for Making Loans Ending in Default? The economy is good now, but business doesn’t stay great forever. In a year or three, there will be a downturn, and a trail of bad bank loans…
The Boat Show
My brother Robert and I own an antique boat, a 1947 Ventnor that belonged to our father. We had the boat restored over 8 years, and began to use it in 2013. The Ventnor mostly stays on a trailer in…
That Smells Like Money to Me
We’ve had two longtime friends pass recently, Carl Cousins, DVM and Clint Campbell. “Doc” Cousins was the proprietor of Haverford Animal Hospital for many years. I knew him as a kind man and a capable Veterinarian. I did not realize…
There are Businesses and Then There are Businesses
I read in the Philadelphia Inquirer about three Wharton grads who developed a new app, “Beer Me”. They intend to change the way that people order at bars. According to Beer Me’s calculations, using the App cuts the average payment…
School Daze
At TABASFUNDING, we don’t make student loans. Our funding is strictly for expansion or acquisition of businesses. In the course of looking at those, however, we do review borrower’s financials. One recent husband and wife whose financials we reviewed have…
Free Stuff
Nancy and I are generally fascinated by offerings for free stuff that come in, usually real estate or timeshare sales. They promise a free gift in exchange for 90 minutes of your time. We’ve gotten golf clubs, bargain overnights in…
Puerto Rico Takes a Hit to the Head
Nancy and I own Puerto Rico bonds, which have been in the news a lot recently. Some bonds are in default, and other payments are due which Puerto Rico says it will not be able to make. For a reason…
Peer to Peer Online Lending
Much money has been thrown into online lending. Some have described it as the financial “Uber”; trying for financial disintermediation in the staid banking industry. One goes online to one of many sites, fills out an application, and by the…