Boating Savings Website Launched

Redcats USA Launches an Innovative Specialty Website - BoatingSavings.com

SOUTH ST. PAUL, Minn.-- May 30, 2008 --The Sportsman's Guide®, a distinguished brand in the Redcats USA portfolio, announced today the launch of BoatingSavings.com, adding to the growing "Guide Outdoors Network," which consists of The Sportsman's Guide®, BargainOutfitters.comT, The Golf Warehouse®, BaseballSavings.com® and SoftballSavings.com®.

The idea behind BoatingSavings.com was to create a one-stop shop for fishing and boating enthusiasts-making it easy for them to find everything they need for an active and sports-oriented lifestyle. The Sportsman's Guide® already had a large following of avid fishermen and knew that a large percentage of these customers owned boats. As such, BoatingSavings.com ties together the customer's love for boating, fishing and family, providing easy online access to a wide selection of marine and water sports gear.

"We are pleased with the launch of BoatingSavings.com and feel confident that our customers will embrace the convenience of finding all of their fishing and boating needs on one easy-to-navigate site," said Greg Binkley, President/CEO/COO of The Sportsman's Guide®. "The Sportsman's Guide® team did an excellent job of developing a site that will significantly enhance our customer's shopping experience."

BoatingSavings.com offers customers a broad selection of well-known brands including Stearns®, Wise®, Turning Point Props®, Sevylor®, Okuma® and Daiwa®. This brand and product-driven focus is evident on the home page where fishing and boating accessories are visibly posted, and Flash and Ajax technology is utilized to feature multiple promotions to pique the customer's interest.

"The Sportsman's Guide® and The Golf Warehouse® have shown tremendous success in their innovative online approach to offering outdoor and sporting gear to a loyal customer base," said Eric Faintreny, Chairman and CEO of Redcats USA. "The team knows their audience, they have spent time researching customer needs, and they dedicate the time and resources required for building unique websites that truly are a convenient one-stop shop for sports and outdoor enthusiasts."

About Redcats USA

Redcats USA is a multi-channel home shopping leader with numerous well-known brands in its portfolio: Chadwick's®, metrostyle®, Woman Within®, Jessica London®, Roaman's®, KingSize®, BrylaneHome®, BrylaneHome® Kitchen, The Sportsman's Guide®, The Golf Warehouse® and AVENUE® Stores. Redcats USA offers a wide range of value and quality driven merchandise categories, including missy apparel, men's and women's plus-size apparel, home and lifestyle products, and outdoor gear.

About Redcats Group

Redcats USA is a division of Redcats Group, a global leader in Home Shopping for apparel and home furnishing. Drawing on a multichannel network combining catalogues, e-commerce and stores, Redcats Group generated 3.76 billion euros of sales in 2007 with 15 brands in 29 countries and a staff of around 22,000 associates. Sales are split between France (51.5%), USA (24.9%) and the rest of the world (23.6%). Redcats Group is a PPR Company. For any further information: www.redcats.com.
Contacts

Redcats USA
Pat Cross, 212-502-9315
Vice President, PR & Communications

Mesothelioma Blog Reports on Man Fired for Reporting Asbestos Cleanup

LegalView Mesothelioma Blog Reports on Whistleblower Who Was Allegedly Fired for Reporting Improper Asbestos Cleanup to Authorities

LegalView recently updated its mesothelioma blog to include reports of a whistleblower being fired after he reported improper asbestos cleanup. The worker who refused to sign off on the demolition of the school was dismissed from his job duties permanently after he reported the improper procedure cleanup to officials.

Denver, CO  -  April 18, 2008 -- LegalView, the number one resource for everything legal on the Web, recently updated its mesothelioma blog with news of the firing of an alleged whistleblower who attempted to report improper asbestos cleanup of a local high school. The city worker was part of a crew that was to demolition an old schoolhouse. The worker allegedly told city managers that the schoolhouse was filled with asbestos and would be hazardous if improper asbestos removal procedures were not followed. However, after the worker refused to sign off on the demolition and spoke out, he was fired, according to reports.

Asbestos is a hazardous chemical that is often found in insulation of many older buildings including government buildings, offices, homes, apartments, universities and schools. It is derived of vermiculite, which was heavily mined early on in the 20th century throughout the world. Asbestos was revered for its qualities of being cost efficient and its ability to insulate sufficiently without catching on fire as easily as other insulations. However, it was discovered that breathing in asbestos fibers and dust caused a deadly form of lung cancer to develop. Additionally, areas that currently contain asbestos must follow strict procedures and methods from the Environmental Protection Agency (EPA) for removal, otherwise asbestos fibers will likely be released into the air and contaminate surrounding areas and individuals. Those who feel they have been previously exposed to asbestos fibers should contact a mesothelioma lawyer for immediate assistance on building a case.

Mesothelioma cancer can take years to develop and is incurable. It is often misdiagnosed, as symptoms of mesothelioma cancer are similar to many other illnesses. Individuals who have contracted mesothelioma should speak with an experienced medical attorney and receive a consultation on a potential mesothelioma lawsuit. To learn more about this recent mesothelioma blog posting as well as additional up-to-date news, reports and information on recent mesothelioma jury verdicts, visit http://mesothelioma.legalview.com/.

In addition to the extensive mesothelioma information portal, LegalView offers information on an assortment of other legal issues that may disrupt the lives of millions of Americans. Information on issues such as pharmaceutical investigations, including the latest Singulair recall, preventable conditions like Erb's Palsy, diseases, illnesses, accidents, chemical exposure, employment discrimination, etc.

LegalView even provides news on the most recent traumatic brain injury treatments, available through LegalView's Web site. Also on the brain injury site, readers can find information on what may be involved with filing a brain injury lawsuit.

On the Singulair practice area, readers will be able to access the latest news on the prescription drug, which had been under investigation by the U.S. Food and Drug Administration (FDA) after reports began to surface about Singulair side effects that can allegedly include moodiness, suicidal behaviors and thoughts.

Additionally, using the Erb's Palsy information portal will provide victims and their families insight into the cause of their condition as well as opportunities for developing an Erb's Palsy lawsuit for potential monetary compensation to help pay for costly medical bills commonly associated with this condition. Erb's Palsy can be a debilitating condition and is usually preventable. It is associated with birth-canal complications that have occurred when an infant's shoulders or head became lodged, causing damage to the nerve system controlling arm movement. While Erb's Palsy often can clear on its own through time, many individuals still require physical therapy and many will need surgery to fix their condition. Those who suffer from this disease are advised to use LegalView's site to easily be referred to a qualified Erb's Palsy lawyer.

About LegalView:
LegalView.com is a public service brought to you by Legal WebTV Network, LLC, a Limited Liability Corporation created by a group of the nation's most highly respected law firms: Anapol Schwartz; Brent Coon and Associates; Burg Simpson; Cohen, Placitella and Roth; James F. Humphreys and Associates; Lopez McHugh; and Thornton and Naumes. For more information on the accomplishments and track records of LegalView.com's superior sponsoring law firms and to get in touch with LegalView attorneys, visit LegalView at www.LegalView.com.

Press Contact: Katie Kelley
Company Name: LegalView
Phone: 720-771-3246
Website: http://mesothelioma.legalview.com

How to Use Home Equity Loans and Home Equity Lines of Credit

LendingTree.com Examines How to Use Home Equity Loans and Home Equity Lines of Credit Wisely

Learn more about home equity loans and lines of credit from LendingTree.com

Charlotte, N.C.  -  March 7, 2008 -- If you are grappling with whether or not you should get a home equity loan or line of credit, first consider the amount you need to borrow and what you need it for. Whether you need a one-time lump sum of money to pay for a home renovation, or an ongoing sum to pay for college costs, there is a financing method that will work to meet your needs. Let LendingTree.com walk you through some tips for both financial tools:

For one-time lump sums, a home equity loan (HEL) is the best way for you to borrow against the value of your house to pay for a one-time expense such as a renovation or buying a car. A HEL gives borrowers a lump sum of money, with a fixed monthly payment that is paid off over a specified period of time.    

For ongoing cash needs, a home equity line of credit (HELOC) may be the better option for borrowers. A HELOC is a form of revolving credit similar to a credit card, but often times with a much lower interest rate. Borrowers are given a specific credit limit and they can then draw funds whenever they need money, and then pay at least a minimum monthly payment with the option to pay off as much as they'd like. The ability to withdraw any amount, as opposed to a predetermined monthly allowance, allows those with HELOCs to pay for expenses that aren't necessarily planned out, such as medical bills or college costs.

Remember, when getting a HEL or a HELOC, either loan is collateralized based on the value of your home. What this means is if you default, your house is on the line as the loan is secured against your home. Interest rates for HELs and HELOCs are often lower than a credit card because of this so before you commit to either, please make sure you are able to repay the money you borrow. The last thing you want to do is put your home in jeopardy because you had difficulty paying your monthly HEL or HELOC bill.

For more information on HELs and HELOCs, please visit the LendingTree Smart Borrower Center.

About LendingTree, LLC
LendingTree, LLC is the nation's number one online lending exchange, providing a marketplace that connects consumers with multiple lenders that compete for their business. Since inception, LendingTree has facilitated more than 23 million loan requests and $185 billion in closed loan transactions. LendingTree provides access to mortgages and refinance loans, home equity loans/lines of credit, auto loans, personal loans, credit cards and high-yield savings accounts via www.lendingtree.com and 800-555-TREE.

Launched in 1998 with headquarters in Charlotte, North Carolina, LendingTree, LLC also owns and operates LendingTree Loans sm, LendingTree Settlement Services, LLC, GetSmart®, and HomeLoanCenter.com. LendingTree, LLC is an operating company of IAC.

Press Contact: ALLISON VAIL
Company Name: LendingTree.com
Phone: 704-943-8339
Website: www.lendingtree.com

Buy UK Property Investment Real Estate Now

UK Property Investment Alert: Buy Real Estate Now

Real Estate developers in the United Kingdom are feeling the heat as properties are being down valued, leaving easy pickings for savvy property investors with an eye for a bargain.

London  -  April 23, 2008 -- For some, the glass is half empty. For others, the glass is half full. It all depends which side of the property investment table you're sitting at.

Real Estate developers in the United Kingdom are feeling the heat as properties are being down valued, leaving easy pickings for savvy property investors with an eye for a bargain. Whether you're searching for a vacation property, homes or land for sale, condos, or a commercial property, now is a great time to pick up where somebody else has unfortunately, due to a declining market, been forced to drop off.

While the property investment and the real estate market may have gone quiet and lavish property investor exhibitions may be struggling to pull in the crowds, the advice from one of the internet's leading real estate investment websites is simple, and not exactly the "gloom and doom" portrayed by most of the media: 'Prepare your finances then go and get yourself a deal'.

Stuart Atkinson speaking on behalf of the Off Plan Property Exchange, recently commented on the looming real estate crisis in the United Kingdom with a more optimistic perspective.

"The market has changed within the UK and property owners have decided to stay put and do up their own properties. Basically it's all gone very quiet out there but conditions are perfect for property investment and perfect to build a property portfolio because the market is stagnant," Atkinson said.

Atkinson cites the following three key factors to take into consideration before you start your venture in real estate:
• Finance - Good finance can make or break any deal. Borrowing money on the right terms and at the right rate is absolutely essential. Talk to your bank but also make sure you talk to property investment specialists.
• Research - Always do your research. Anything bought now will have to be held on to until the market changes. Make sure that rents are sustainable, and that it will cover all expenses. Remember to always compare like for like. All property is not made equal.
• Deal - If you have the finance and you have done the research, you are in an excellent position to buy. Negotiate hard and make sure that the figures work based on your research

Atkinson continues, "My advice is simple - build and hold. I don't see people making money over night, at least not in the UK. A stagnant market is excellent for buyers who should be able to pick up a bargain that will stack up".

Continuing to expand its international footprint the property investment site currently represents clients in the United Kingdom, Dubai, Spain, Turkey, Bulgaria and Cyprus. By summer of 2008, the company plans to extend its service to the United States and Canada.

Off Plan Property Exchange offers additional advice on such subjects as real estate including commercial properties, homes, land, and condos as well as mortgage advice such as rates, calculators and professional opinion on their website.

Buyers and sellers interested in learning more about the benefits of off plan property investment are encouraged to visit the company's website, showcasing continuously updated real estate listings at www.offplanpropertyexchange.com

Press Contact: Stuart Atkinson
Company Name: OPPE Limited
Phone: 08456800758
Website: www.offplanpropertyexchange.com

Retail Development in Iowa's Largest New Urban Community

Capital Growth Madison Marquette and DRA Properties Announce Partnership to Develop Retail in Iowa's Largest New Urban Community

MINNEAPOLIS-- May 15, 2008 --Capital Growth Madison Marquette (CGMM), a national, fully-integrated commercial real estate company based in Minneapolis, and DRA Properties (DRA), an Ankeny-Iowa-based real estate company owned by Dennis Albaugh, founder and chief executive of Albaugh, Inc., today announced a new partnership to develop the retail portion of Prairie Trail, a 1,031-acre master-planned community being developed by DRA on the former site of the Iowa State University research farm in the center of Ankeny. Prairie Trail is Iowa's largest New Urban development, reflecting the New Urbanism principals of smart, managed growth; sustainable green development and reduced traffic.

The master plan for Prairie Trail calls for two retail components covering approximately a half million square feet of the development. Town Center at Prairie Trail, a lifestyle center, will serve as the community's commercial core. It will feature fashion anchors, a wide variety of restaurants and a mix of regional and national merchants. It will be surrounded by a central park, amphitheatre and abundant parking. There will also be a retail area at the southern entrance to the community-Plaza Shoppes at Prairie Trail. Plaza Shoppes at Prairie Trail will be anchored by a Hy-Vee grocery store.

The rest of the community features approximately 2,500 homes in a mix of styles; a civic and educational component, including the city library, a school and the City of Ankeny police headquarters; and a vast network of trails, parks, and bike paths. Prairie Trails' architecture and design will reflect the best of Iowa's small towns.

Located just north of Des Moines at the intersection of Interstate Highways 35 and 80, Ankeny currently has a population of about 40,000. It is home to the Ankeny Campus of the Des Moines Area Community College, which enrolls nearly 27,000 college credit students and 32,000 continuing education or business training students. It's location at the intersection of two major corridors, within minutes of the State Capitol and only a half hour drive from Ames, home of Iowa State University, attracts travelers from throughout the region and offers excellent growth potential.

"In addition to being an excellent business opportunity, our partnership with DRA Properties on the Prairie Trail retail development marks a return to our roots," said Dick Ward, CGMM's Senior Vice President of Acquisitions and Investments. "Almost every member of the Capital Growth Madison Marquette management team has a strong connection with Iowa and understands its people and communities. Several of us built our careers in this industry while working at General Growth Properties, which was founded in Des Moines and has become one of the nation's largest developers of regional shopping centers," he said. Ward is a native of Council Bluffs. CGMM President and Chief Operating Officer John Nagle is a native of Cedar Rapids.

"We believe Capital Growth Madison Marquette is an excellent match for this project," said DRA, owner, Dennis Albaugh. "It has everything we were looking for-outstanding expertise and a strong track record in the industry, an entrepreneurial spirit, and an understanding and appreciation for Iowans and their way of life. We're going to make a great team."

Groundbreaking on the retail portion of the development is expected to begin in 2009. The full project is slated for completion in 2012. Information on the community can be found at www.prairietrailankeny.com

For retail leasing information, call Dick Ward at 515-333-1180.

DRA Properties, L.C. is an Ankeny based real estate development company that was founded in 1992 by Dennis Albaugh. Albaugh, owner and Chief Executive Officer of Albaugh, Inc., a global agricultural chemical company, decided to venture into real estate to have a positive impact on his hometown of Ankeny, Iowa. "Ankeny has always been my home town-I grew up here, I raised my family here, and now my daughters are raising their families in Ankeny. My goal in real estate development has always been to create a lifestyle that all of Ankeny can enjoy and be proud of," said Albaugh.

Minnesota-based Capital Growth Madison Marquette specializes in a strategic array of value-enhancing third party services, including brokerage, construction, development, leasing, management, marketing and tenant representation. CGMM also aggressively pursues acquisitions and joint venture opportunities. Capital Growth Madison Marquette is part of Capital Growth Properties, Inc. (CGP), a private real estate investment company with offices in Cedar Rapids, Iowa, Fort Lauderdale, Florida and Birmingham, Alabama. Further information on both companies can be found online at www.capitalgrowthproperties.com

Contacts

Capital Growth Madison Marquette
Martha Capps, 952-852-5190
Cell: 612-581-0797
or
DRA Properties
Ashley Johnson, 515-965-5249
Cell: 515-491-1389

New IT Media Disposal Program From Kroll Ontrack

Kroll Ontrack Goes Green with a New IT Media Disposal Program

Erasure and Recycling Services Help Businesses and Individuals Safeguard Critical Information and the Environment

MINNEAPOLIS--  May 13, 2008 --Kroll Ontrack®, the leading provider of data recovery and legal technologies products and services, today announced a new media disposal program to help businesses and individuals safely dispose of their end-of-lifecycle hard drives in an environmentally conscious way. This fast, secure and convenient erasure and disposal service allows organizations and individuals to protect one of their most important assets - their data.

Kroll Ontrack's media disposal program is comprised of two steps:

Data Erasing Solutions: Kroll Ontrack offers two solutions that completely remove all traces of information stored on storage media and a verification service that ensures no traces of information can be recovered from the media following an erasure procedure.

    * Ontrack Eraser software: An easy-to-use, highly flexible data erasure software tool, Ontrack® Eraser, uses overwriting procedures to permanently remove data and meet the most stringent standards for data removal.
    * Ontrack Eraser services: A convenient, end-of-lifecycle service performed by Kroll Ontrack specialists that offers complete removal of your data using a "degausser," a hardware device that destroys data using strong magnetic fields.

Media Disposal Services: Kroll Ontrack's environmentally friendly media disposal service ensures certain media is disposed of in a method that protects both the owner of the stored data and the environment. Technicians dismantle the devices removing good parts for re-use prior to disposal of the storage media. All other hard drive and storage device components are turned over to Kroll Ontrack's recycling vendor that separates materials such as metals, circuit boards, copper wiring and aluminum into different commodities that are recycled and re-used for other products. Any left over materials are discarded in a manner that ensures no materials are deposited in landfills or incinerators. Specifically, they are disassembled using an optimal mix of physical and mechanical demanufacturing techniques to separate out hazardous materials from recyclable components.

"With this service, customers now have a convenient means to make sure their media does not fall into the wrong hands and is disposed of in a method that will not harm the environment," said Jim Reinert, vice president of software and services, Kroll Ontrack. "This is especially critical as both businesses and home users are looking for a safe and easy way to get rid of their mounting end-of-lifecycle machines."

From more information regarding this service visit www.ontrackdatarecovery.com.

About Kroll Ontrack Inc.

Kroll Ontrack provides technology-driven services and software to help legal, corporate and government entities as well as consumers recover, search, analyze, produce and present data efficiently and cost-effectively. In addition to its award-winning suite of software, Kroll Ontrack provides data recovery, advanced search, paper and electronic discovery, computer forensics, ESI consulting, and trial consulting and presentation services. Kroll Ontrack is a technology services division of Kroll Inc., the global risk consulting company. For more information about Kroll Ontrack and its offerings please visit: www.krollontrack.com; www.ontrackdatarecovery.com; www.engeniumsearch.com; www.trialgraphix.com.
Contacts

Kroll Ontrack
Kaitlin Creager, 952-516-3581
kcreager@krollontrack.com

List of Largest Baltimore Title Companies Ranks Equitable Land Title Group Fourth

Equitable Land Title Group Ranks Fourth in List of Largest Baltimore Title Companies

Equitable Land Title Group, a Baltimore-based title company that now serves customers nationwide, ranks fourth among the largest title companies in the Baltimore Business Journal's Book of Lists.

Baltimore, MD - May 9, 2008 -- Equitable Land Title Group (ELTG) has been serving customers nationwide since last year, but that doesn't mean they have lost any focus on doing business in their hometown of Baltimore, Maryland. The group recently ranked fourth among the largest title companies in Baltimore for the Baltimore Business Journal's Book of Lists.

The Baltimore Business Journal's Book of Lists is an annual publication that includes essential information on the leading buyers, businesses and employers in Baltimore. The book provides a look at the local economy, including contact information and important facts for top businesses, industries, professions, governmental units and nonprofit organizations. Making the list of top title companies in the Baltimore area is an honor for ELTG, whose star has been on the rise in recent years. After the demand for their services led the company to expand nationwide last year, they're clearly still on top of the local market. 
ELTG provides comprehensive real estate title and settlement services, thanks to their industry-leading technology and a team of highly resourceful problem solvers. The company serves homeowners, mortgage lenders and the real estate community with an efficient Web-based ordering and processing system that ensures greater accuracy and faster turnaround. Their commitment to service, coupled with leading technology, has enabled them to expand their business nationally.
"We are a technological leader in the title industry while making all of our clients feel as if they are our only client," according to Steven Lenet, Director of Operations.

For more information about ELTG and their services, visit www.eltg.net.

About Equitable Land Title Group:

ELTG is a Baltimore-based company that services real estate title needs nationwide. Located in Baltimore, Maryland and operating nationwide, ELTG keeps lenders, brokers and realtors in control of their settlements.

ELTG is unique. They provide the staff and technology to get settlements done efficiently and right the first time. They pride themselves on superior service and commitment to innovative technology solutions that improve the speed, efficiency and accuracy of title transactions.

Large volume, small volume, simple or complex - they can handle it all.

Retirement Services Direct IRA Funds into Income Property Investments

Self-Direct Your IRA Funds into Income Property Investments with RealSource Retirement Services

Families and individuals do not have to limit their retirement funds to a range of products or investment policies offered by their employer or financial/insurance institution. RealSource Retirement Services is helping generate monthly income and increased wealth for those who no longer wish to be bound to traditional investment choices or are limited in their ability to invest their hard-earned money as they see fit.

Howell, NJ  -  April 15, 2008 -- Families and individuals do not have to limit their retirement funds to a range of products or investment policies offered by their employer or financial/insurance institution. RealSource Retirement Services is helping generate monthly income and increased wealth for those who no longer wish to be bound to traditional investment choices or are limited in their ability to invest their hard-earned money as they see fit. This is done with their retirement funds by placing them into income property investments that make sense – and in markets that work.

"Despite the negative media attention, there are still real estate markets that fall outside of that, that haven't slowed down and that are still growing at extremely strong and beneficial levels," said Jeremy Hanks, Director of RealSource Retirement Services, whose firm presents investors with self-directed retirement opportunities that have reasonable risk levels and higher net returns. "There are risks out there but if you can locate yourself within the right market with the right tools, the rewards are tremendous, a lot better than most, if not all, individual retirement plans – and remember, you are in control of your money."

RealSource Retirement Services has made available an audio Webinar that highlights the RealSource economic model, how to identify markets that have the best investment potential and the ability to separate that into which markets have the best cash flow opportunities and which markets have the best appreciation opportunities. To listen to the audio Webinar, go to www.incomepropertyinvestmenttalk.com/realsource_investor_ira.htm.

"Ideally, as self directing IRA investors, you should look for both appreciation and cash flow in the right place at the right time," said Michael Madsen, Director of RealSource Retirement Services. "A self directed IRA protects assets from creditors and frivolous lawsuits, plus real estate as an investment has generated more wealth than any other vehicle for investors who understood how to avoid common mistakes. We help IRA fund holders invest in real estate well."

To schedule a one-on-one consultation with Messrs. Hanks and Madsen, call (800) 929-2150 or e-mail them at RRS @ realsource.net. To listen to the audio Webinar, go to www.incomepropertyinvestmenttalk.com/realsource_investor_ira.htm.


Press Contact: Peter L. Mosca
Company Name: RealSource Retirement Services
Phone: 732.841.4778
Website: www.IncomePropertyInvestmentTalk.com

Specialty Vineyard and Pinot Noir Finishes Introduced

Medallion Cabinetry Introduced Specialty Finishes Vineyard and Pinot Noir

MINNEAPOLIS-- May 02, 2008 --Medallion Cabinetry introduced two new specialty finishes to enhance product line at KBIS 2008. Vineyard, a brush glazed finish, and Pinot Noir, a duotone finish, use a multi-step process to create unique accent finishes.

"Pinot Noir and Vineyard are innovative additions to our line of finishes," said Duke Piotter, Executive Vice President, Sales and Marketing of the Elkay Cabinet Division, "Both perfectly complement our existing finishes and give the designer and homeowner creative choices in individualizing kitchen design."

Vineyard is a deep red finish accented by a black brush glazed finish. Pinot Noir has an opaque black top finish which is hand-rubbed to expose a deep red, semi-opaque base finish. Both finishes are available on a variety of wood species and door styles in Medallion's Designer Gold and Designer product lines. Vineyard is also available on most Maple and Oak door styles in Medallion's Silverline product line.

Medallion, which is part of the Elkay Cabinet Division, offers more than 6,600 combinations of door styles, wood species and color finishes in semi-custom cabinetry through kitchen and bath design centers and dealers nationwide. The Elkay Cabinet Division was created in 1993 has 12 facilities throughout the United States. Operating under the brand names Medallion Cabinetry, Yorktowne Cabinetry, Mastercraft Cabinets and Schuler Cabinetry, the company is the fourth largest provider of residential cabinetry in the country.

Elkay Manufacturing Company is a privately held, 85-year old firm headquartered in Oak Brook, Illinois. Elkay is a supplier of residential kitchen and bath cabinetry and accessories, commercial and residential plumbing products, including stainless steel sinks, faucets and water coolers.

Contacts

Medallion Cabinetry
Joy Schmelzer, 952-442-5171
joys@medallioncabinetry.com

Different Solution to Real Estate Mortgage Crisis Needed

Real Estate Center Economist: Different Solution to Mortgage Crisis Needed

The five-year freeze on mortgage interest rates recently announced by the federal government may be intended to help responsible homeowners avoid foreclosure, but a noted economist with the Real Estate Center at Texas A&M University says there may be a better solution to the mortgage crisis.

College Station, Tex.  -  December 19 -- The five-year freeze on mortgage interest rates recently announced by the federal government may be intended to help responsible homeowners avoid foreclosure, but a noted economist with the Real Estate Center at Texas A&M University says there may be a better solution to the mortgage crisis.

"The federal government has to be very careful in addressing this problem," said Dr. Mark Dotzour, the Center's chief economist. "Aggressive government intervention in the mortgage market will only create additional uncertainty for bond investors. Freezing interest rates is a bad idea. When you tell an investor that the contract they hold is no longer valid, it constitutes actual taking of private property."

Dotzour added that if the government intervenes and rewrites the terms of existing mortgage contracts, bond investors will become leery of buying mortgage bonds in the future and will demand higher interest rates for the higher perceived risk.

Research Economist Dr. James Gaines, also with the Center, agrees, calling the basic premise of the plan shaky and the details sketchy.

"For the most part, the homeowners and borrowers likely to benefit from the interest rate freeze are the very same people who would have the best chance of renegotiating their loans with the lender in the first place — a borrower with a relatively sound credit rating and a history of making payments who simply needs a little help to keep from going into full default," Gaines said.

So how can the federal government speed the recovery process in the U.S. housing markets?

The first thing the government should do, Dotzour said, is cut short-term interest rates to 2 or 3 percent. At the same time, they could aggressively purchase mortgage bonds and long treasuries to drive down the ten-year yield, which Dotzour said has already dropped below 4 percent in the past six months.

After that, the government needs to address the increased risk premium in the mortgage market by establishing conservative mortgage guidelines and creating a new government "seal of approval" for mortgage loans that meet standard underwriting guidelines. Dotzour said this would help raise confidence in private bond rating agencies and the mortgage insurance industry.

"Together, these efforts would drive down mortgage interest rates dramatically and allow American homeowners to refinance," Dotzour said. "This looks like heavy-handed government intervention into the housing market, but we are likely to see heavy-handed intervention anyway, so we might as well do something that might actually work."

The Real Estate Center (http://recenter.tamu.edu) has been providing solutions through research for 35 years. Funded primarily by Texas real estate licensee fees, the Center was created by the state legislature to meet the needs of many audiences, including the real estate industry, instructors, researchers and the general public.

Note to Editors
To interview Dr. Mark Dotzour, call 979-862-6292

Additional research information:

Dr. James Gaines, 979-845-2079

Other contacts: Bryan Pope, 979-845-2088, BPope(at)mays.tamu.edu. For information on the Real Estate Center, contact Senior Editor David. S. Jones at 979-845-2039 (voice), 979-845-0460 (fax) or djones(at)recenter.tamu.edu. More than 29,000 pages of data are available at the Center's web site.

Press Contact: Dr. Mark Dotzour
Company Name: The Real Estate Center
Phone: 979-862-6292
Website: recenter.tamu.edu