Tuesday, February 20, 2007

Money Myths, Home Depot Slump & My Random News Wrap

We all have our myths and there are an abundance of urban legends in financial circles. Bankrate.com has an excellent rundown of the money myths that circulate. Some are real no-brainers (email scams), but others -- myths about hotel room keys -- are a little more obscure.

That's just one of several stories in my random midday news wrap, which also includes an excellent piece from the Washington Post about women & heart disease. I've also included an update on the tainted peanut butter story.

1. Red ink on checks, unsigned credit cards and other urban legends in finance.
"Myth No. 1: You can float a check longer if you write in red ink. The theory is that a bank's equipment can't scan red ink, so it takes longer to process the check." Source: Bankrate.com/MSN

2. Home Depot's stock price fall based on disappointing financial news.

"Home Depot, the world's largest home improvement retailer, fell 0.7 percent to $41.15 on the New York Stock Exchange and was the third biggest decliner on the Dow. The company posted a 28 percent drop in quarterly profit as the weak U.S. housing market depressed sales at its stores." Source: Reuters

3. More on the Peanut Butter health scare.

"[T]he Food and Drug Administration is urging families to throw out all Peter Pan and Great Value peanut butter bought since May." Source: ABC News

4. Experts urge improvement in heart disease prevention for women.
The American Heart Association has updated and sharpened its guidelines for preventing heart disease in women.

The focus now is on a woman's lifetime risk for heart disease, not just her short-term risk, as was the case in the 2004 guidelines. Source: Washington Post



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