gateway travel: June 2012

Saturday, June 30, 2012

Executives Discover Innovative Leadership Solutions Via Venture ...

Posted on29 June 2012.

Executives who need to develop innovative leadership solutions should research creative financing sources when planning their new business, product or service strategies. Entrepreneurs don?t have to travel any further than their personal computer for news about raising venture capital funds.

Venture capital is one industry that has been around for the past 60 years or so. However, just like every other industry, it continues to evolve and change. Much of the VC industry?s success is due to the explosive growth of the Internet. The Web has made many information-gathering tasks faster and easier. Updates on venture capitalists and various kinds of venture capital news are readily accessible to the world?s citizens through online media.

Aside from the World Wide Web, there are other sources of venture capital news. Old, traditional sources such as newspapers and magazines continue to provide the necessary candidate criteria or details and information that venture capitalists and entrepreneurs need. These are also good sources of legal updates in the field of venture capital.

Information contributions by VC partners or research associates are published in paper periodicals, magazines or newspapers and can also be found on the Internet. Aside from the printed materials in circulation, some partners even write blogs and lens, operate their own websites and share their expertise in web-posted articles or ezines.

Newsletters and emails are also sources of news. Visitors to a VC-specific site will usually find offers for subscriptions to their daily or weekly newsletters. Inside these publications, sponsoring service providers empower entrepreneurs by providing them with useful articles and practical information. Additional contributions from business experts and capitalists can also be found in these news organs.

Discussion groups and forums are also good venues for posting updates. Online groups, bulletin boards, chatrooms and membership sites give you the ability to exchange ideas and interact with your fellow entrepreneurial colleagues.

Based on the quality and quantity of participants, you can gather advice or tips and learn innovative leadership solutions about the challenging aspects of financing your venture, from raising venture capital to the drafting of proposals to the design of your exit strategies.

Articles on venture capital are not limited to business pages or publications. There are websites which are specifically dedicated to venture capital ? these sites may post news stories or provide video streaming as well. News articles may be categorized into more specific topics such as buyout news, industry news, fund news and transition news.

When a site is classified into clearly defined sections, it makes it easier for the reader to choose which articles to read. So if you are interested in buyouts only, for example, then you don?t have to plow through all articles to find the information that you want. It also helps to have the articles arranged by date, to allow the reader the means to assign currency or relevance to the piece.

With the Internet being worldwide in scope, articles, papers and even application forms can be accessed by practically anyone anywhere, in the same way that we read news, visit offices and updates in our own countries. Everyone with web access can find ways to tap into the innovative leadership solutions being provided by venture capitalist firms.

This goes to show that the availability of venture capital is a worldwide phenomenon. However, in the US alone, close to $29.9 Billion was used for venture capital investment in 2007.

Today?s capitalists are no longer restricted to the US markets only but can now consider funding companies and businesses in China, India and other developing countries in Asia, the Pacific Rim or Middle East and Africa. This is good news for countries in these regions with vast manpower resources but limited access to equity funding.

Entrepreneurial executives can be better informed about the latest trends in VC. Last year, the trend was towards early stage investing. It was estimated that 35% of VC investments will go to seed-stage and early stage deals. On the other hand, expansion-stage funding showed signs of being decreased.

There are some really good websites which provide venture capital news and more. Aside from news, they also provide listings of venture capital firms and the companies that they helped fund.

Find these websites and bookmark them. For entrepreneurs, these sites provide the useful, innovative leadership solutions they need to learn more about the venture capitalist arena.

Bill Thomas conducts innovative leadership training programs for Awesome Leaders and Innovative Leaders - he helps professionals, managers, supervisors, executives, entrepreneurs and directors by providing focused leadership subjects, coaching and consulting support, practical exercises, tons of powerful tools and energetic interactions with clients. His cost-effective innovative training workshops, programs and innovative learning solutions are guaranteed to maximize the returns on your investment. Awesome Leadership Skills Training and
Innovative Leadership Development Workshops

Source: http://www.freshtopicsdaily.com/executives-discover-innovative-leadership-solutions-via-venture-capital-news/

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World stocks, euro rise on Europe summit proposals

[ [ [['Connery is an experienced stuntman', 2]], 'http://yhoo.it/KeQd0p', '[Slideshow: See photos taken on the way down]', ' ', '630', ' ', ' ', ], [ [['Connery is an experienced stuntman', 7]], ' http://yhoo.it/KpUoHO', '[Slideshow: Death-defying daredevils]', ' ', '630', ' ', ' ', ], [ [['know that we have confidence in', 3]], 'http://yhoo.it/LqYjAX ', '[Related: The Secret Service guide to Cartagena]', ' ', '630', ' ', ' ', ], [ [['We picked up this other dog and', 5]], 'http://yhoo.it/JUSxvi', '[Related: 8 common dog fears, how to calm them]', ' ', '630', ' ', ' ', ], [ [['accused of running a fake hepatitis B', 5]], 'http://bit.ly/JnoJYN', '[Related: Did WH share raid details with filmmakers?]', ' ', '630', ' ', ' ', ], [ [['accused of running a fake hepatitis B', 3]], 'http://bit.ly/KoKiqJ', '[Factbox: AQAP, al-Qaeda in Yemen]', ' ', '630', ' ', ' ', ], [ [['have my contacts on or glasses', 3]], 'http://abcn.ws/KTE5AZ', '[Related: Should the murder charge be dropped?]', ' ', '630', ' ', ' ', ], [ [['have made this nation great as Sarah Palin', 5]], 'http://yhoo.it/JD7nlD', '[Related: Bristol Palin reality show debuts June 19]', ' ', '630', ' ', ' ', ], [ [['have made this nation great as Sarah Palin', 1]], 'http://bit.ly/JRPFRO', '[Related: McCain adviser who vetted Palin weighs in on VP race]', ' ', '630', ' ', ' ', ], [ [['A JetBlue flight from New York to Las Vegas', 3]], 'http://yhoo.it/GV9zpj', '[Related: View photos of the JetBlue plane in Amarillo]', ' ', '630', ' ', ' ', ], [ [['the 28-year-old neighborhood watchman who shot and killed', 15]], 'http://news.yahoo.com/photos/white-house-stays-out-of-teen-s-killing-slideshow/', 'Click image to see more photos', 'http://l.yimg.com/cv/ip/ap/default/120411/martinzimmermen.jpg', '630', ' ', 'AP', ], [ [['He was in shock and still strapped to his seat', 6]], 'http://news.yahoo.com/photos/navy-jet-crashes-in-virginia-slideshow/', 'Click image to see more photos', 'http://l.yimg.com/cv/ip/ap/default/120406/jet_ap.jpg', '630', ' ', 'AP', ], [ [['xxxxxxxxxxxx', 11]], 'http://news.yahoo.com/photos/russian-grannies-win-bid-to-sing-at-eurovision-1331223625-slideshow/', 'Click image to see more photos', 'http://l.yimg.com/a/p/us/news/editorial/1/56/156d92f2760dcd3e75bcd649a8b85fcf.jpeg', '500', ' ', 'AP', ] ]

[ [ [['did not go as far his colleague', 8]], '29438204', '0' ], [ [[' the 28-year-old neighborhood watchman who shot and killed', 4]], '28924649', '0' ], [ [['because I know God protects me', 14], ['Brian Snow was at a nearby credit union', 5]], '28811216', '0' ], [ [['The state news agency RIA-Novosti quoted Rosaviatsiya', 6]], '28805461', '0' ], [ [['measure all but certain to fail in the face of bipartisan', 4]], '28771014', '0' ], [ [['matter what you do in this case', 5]], '28759848', '0' ], [ [['presume laws are constitutional', 7]], '28747556', '0' ], [ [['has destroyed 15 to 25 houses', 7]], '28744868', '0' ], [ [['short answer is yes', 7]], '28746030', '0' ], [ [['opportunity to tell the real story', 7]], '28731764', '0' ], [ [['entirely respectable way to put off the searing constitutional controversy', 7]], '28723797', '0' ], [ [['point of my campaign is that big ideas matter', 9]], '28712293', '0' ], [ [['As the standoff dragged into a second day', 7]], '28687424', '0' ], [ [['French police stepped up the search', 17]], '28667224', '0' ], [ [['Seeking to elevate his candidacy back to a general', 8]], '28660934', '0' ], [ [['The tragic story of Trayvon Martin', 4]], '28647343', '0' ], [ [['Karzai will get a chance soon to express', 8]], '28630306', '0' ], [ [['powerful storms stretching', 8]], '28493546', '0' ], [ [['basic norm that death is private', 6]], '28413590', '0' ], [ [['songwriter also saw a surge in sales for her debut album', 6]], '28413590', '1', 'Watch music videos from Whitney Houston ', 'on Yahoo! Music', 'http://music.yahoo.com' ], [ [['keyword', 99999999999999999999999]], 'videoID', '1', 'overwrite-pre-description', 'overwrite-link-string', 'overwrite-link-url' ] ]

Source: http://news.yahoo.com/world-stocks-euro-rise-europe-summit-proposals-081850760--finance.html

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The Basics Of Estate Planning | YodZiaN.CoM - Finance and Loan ...

Estate Planning may be a word that is encountered by many citizens especially the elderly. What is Estate Planning? What benefits does it provide to people?

Estate Planning is a method of arranging and considering alternatives that will satisfy specific wishes and goals to prepare for things that may happen to a person and the people he finds special to him.

Estate Planning includes organizing properties and not just putting them in a simple Will. It also lessens the taxes and fees that may possibly be charged to these properties. Estate Planning also includes contingency preparation to ensure that ones wishes regarding health care and medications will be followed.

An estate plan may be described as good if it financially coordinates with the future of the home, business, investments, insurance and other benefits if ever the person becomes sick or will pass away. A good estate plan also sets directions to bring about personal wishes regarding health care in preparation for the when the person becomes disabled.

It is very important to identify the real definition of the term ?estate? before someone can really perform estate planning. Estate means all the properties a person owns or has control of. This is regardless whether if the property is solely named after him or is in managed in a partnership. This may include real properties, accounts, bonds and stocks, cash, buildings and establishments, jewelry, collections, all types of businesses and even retirement benefits.

Typically, those who really need to have an estate plan are parents who have minor children, people who have valuable properties and have sentimental values for them, and also people who are concerned about their medications and health care. However, people can still acquire an estate plan whether they have these categories or not. As long as they have all the things that are covered by an estate plan, then they can avail of it.

While a person is alive, it is important to prepare an estate plan and at the same time implement it. This is the perfect time for a person to perform and have legal capacity to come up with a contract. There may be challenges that could occur if an estate plan is implemented when a person is already disabled. Others may judge the lack of capacity and the person may be prone to fraud, abuse and coercion.

Estate Plans may include wills, power of attorney for health care, living wills, living trusts and limited partnerships. When entering into a contract, it is very important to make use of the services of a lawyer. Lawyers are the only certified people who practice these fields. They are also the only ones who can supply a person with all the legal requirements and advice needed in the estate plan. An attorney will be able to answer legal questions regarding the estate and they will also be able prepare the person on the cost of the estate plan and other finances the come with it.

Estate Planning involves sensitive decisions and legal matters. It would only be beneficial if the person will always consult with legal advisors and also seek financial and medical advice. It is important that before a person will enter into estate planning, he should already have a strong understanding of the process so that things will not be difficult for those who will be left behind.

Robert Thatcher is a freelance publisher based in Cupertino, California. He publishes articles and reports in various ezines and provides estate planning resources on http://www.justestateplanning.info

Written By : Robert Thatcher

Source: http://www.yodzian.com/html/content/the-basics-of-estate-planning/

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Friday, June 29, 2012

Apply These Tips To Your Property Buying Plan | Boca Raton Real ...

Always establish what your main goals are. Make sure you include every issue under negotiation, including whatever expectations you hold for each. Your convictions and expectations will be useful for prioritizing each goal. It is important to realize that everything will not go your way during a negotiation. You need to be somewhat flexible in order to get what you really want.

Always have your goals at the forefront of your mind as you are preparing to purchase a property. You should be aware of whether your goals are to be accomplished in either the short or long term. Don?t invest in any property that is irrelevant to your long-term or short-term goals. If you don?t consider your own needs before investing, you?re likely to lose money on the deal or get frustrated with your investment.

Prior to purchasing any home out there, you always need to check the property thoroughly. If you don?t have enough knowledge, you may lose money on unsuccessful endeavors. Remember, before you hand out the money for any type of property, you should check out crime stats, property values for the immediate area, the condition of the home, and many other factors.

Buying commercial property can be easier if you have a partner that you can trust. When you have a partner who has a good financial standing and reputation, it is much easier to quality for the loan needed to purchase the property. Having a partner gives you an extra person to help pay the necessary down payment and any needed credit in order to be qualified for a loan.

Investing in real estate is always a risky situation. Property values are now at a low since the market has crashed. This makes it a perfect time to move from that apartment into a home of your own. Don?t wait too long because before you know it, the market will quickly rise, and you?ll want to have a nice piece of real estate in your back pocket to be able to reap the benefits.

When you select an agent to assist you in finding a new home, question them on the amount of time they?ve been in the area. If they have only been around for a short while, they are not going to know as much about the roads, community restrictions and neighborhoods as someone else. Find an agent that has been living in the vicinity for a few years.

Find an attorney specializing in real estate if you are having to deal with foreclosure purchases. Complications can occur with pre- and regular foreclosures, so you need a legal representative to look out for your personal interests. This could actually end up saving you a great deal of money in the long run.

When house hunting, check that there plenty of parking spaces in the area if you are a driver. This is of particular importance for any home you are considering that has no driveway. You don?t want to end up paying more money to rent a parking space, and you don?t want to walk a mile to get to your car.

While a home with a view may be lovely to have, don?t spend extra on paying for it. Even though you may love the view, when you resell the house there is no guarantee that prospective buyers will value it as highly as you do. Try to not to overpay for the view.

You may be able to borrow an assessor?s device for measuring a house. You should do this before deciding to buy. You need to make sure public records for square footage match the listing. The square footage recorded in both places should be no more than 100 square feet in difference. If they don?t match, investigate further or reconsider the transaction.

In the majority of cases, a home that has been foreclosed on will need repairs. This is because these houses generally sit unattended for a while before they are put up for sale, and this means that there has been no regular looking after and care. Foreclosed homes usually require pest control and a new HVAC system.

If your future rental property has a garden, discuss with your landlord about who has the maintenance responsibilities before you sign the lease. Certain rentals make it a requirement for you to clean the garden or yard on your own or hire someone else to do this. Other rentals include this service in the rent every month.

Get a professional to look at the building you want to buy. Although you?ll have to pay a fee, hire a professional home inspector to conduct the inspection so that you will have recourse if something gets missed in the inspection.

If you are looking to relocate, consider looking into the neighborhood that the house is located in online. Some areas may have more information that others available, but at the very least, you can find certain information. Take into account factors such as cost of living, unemployment rates, population makeup and density to ensure you?re moving to a place with a lifestyle that?s suited to your needs.

Before you begin a search for a new home, get a copy of your credit report and look it over. Get your report, check it for errors and report any problems. Being certain that your credit history is correct and not damaged will help you to secure a better mortgage rate.

Ready to buy now? Hopefully, the advice provided above can help lessen any worries you have. Now, look for different opportunities to apply the information from this article as you search for the perfect property. The process of buying real estate need not be difficult. It is fun and exciting to finally own something on your own. All you have to do is calculate its cost, and always make smart decisions.

Both comments and pings are currently closed.

Source: http://bocaratonrealestates.com/boca-raton-real-estate/apply-these-tips-to-your-property-buying-plan/

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Curry out as co-host of NBC's 'Today' show

FILE - This July 27, 2011 file photo released by NBC shows co-host Ann Curry on the "Today" show in New York. Curry offered a tearful goodbye as co-host of NBC's "Today" show on Thursday, June 28, 2012. Curry, who joined the show as a news anchor in 1997, will remain at NBC News to be anchor-at-large and national and international correspondent. (AP Photo/NBC, Peter Kramer)

This Sept. 7, 2011 photo released by NBC shows co-host Ann Curry modeling one of Elizabeth Taylor's necklaces, which was auctioned by Christie's, on the "Today" show in New York. Curry offered a tearful goodbye as co-host of NBC's "Today" show on Thursday, June 28, 2012. Curry, who joined the show as a news anchor in 1997, will remain at NBC News to be anchor-at-large and national and international correspondent. (AP Photo/NBC, Peter Kramer)

This Feb. 1, 2012 photo released by NBC shows co-hosts Ann Curry, left, and the Natalie Morales holding puppies just before a puppy bowl segment on the "Today" shows in New York. Curry offered a tearful goodbye as co-host of NBC's "Today" show on Thursday, June 28, 2012. Curry, who joined the show as a news anchor in 1997, will remain at NBC News to be anchor-at-large and national and international correspondent. (AP Photo/NBC, Peter Kramer)

This April 12, 2012 photo released by NBC shows co-host Ann Curry holding a bird and animal expert Julie Scardina on the "Today" show in New York. Curry, who joined the show as a news anchor in 1997, offered a tearful goodbye as co-host of NBC's "Today" show on Thursday, June 28, 2012. She will remain at NBC News to be anchor-at-large and national and international correspondent. (AP Photo/NBC, Peter Kramer)

This June 27, 2012 photo released by NBC shows co-hosts Al Roker, left, and Ann Curry, with actors Joe Manganiello, second left, and Channing Tatum, right, on the "Today" show in New York. Curry offered a tearful goodbye as co-host of NBC's "Today" show on Thursday, June 28, 2012. Curry, who joined the show as a news anchor in 1997, will remain at NBC News to be anchor-at-large and national and international correspondent. (AP Photo/NBC, Peter Kramer)

NEW YORK (AP) ? Ann Curry offered a tearful goodbye as co-host of NBC's "Today" show on Thursday, saying, "This is not as I expected to ever leave this couch."

Her exit represents NBC's most visible response to the popular morning show's worst stretch in the ratings in nearly two decades. "Today" hadn't lost a single week since 1996, but this spring it was beaten four times by ABC's resurgent "Good Morning America."

Curry's exit marked a stark contrast to the lengthy tribute shows given to predecessors Meredith Vieira and Katie Couric. She announced it during the final five minutes of her shift, ending a week of awkward television as she continued working after word spread that NBC was looking to oust her.

"For all of you who saw me as a groundbreaker, I'm sorry I couldn't carry the ball over the finish line but, man, I did try," she said, breaking down.

Curry joined the show as a news anchor in 1997. Passed over for the co-host job when Vieira replaced Couric, she was given the chance when Vieira left last June. But her pairing with co-host Matt Lauer never seemed to click and she took the fall for the show's ratings troubles.

NBC's Savannah Guthrie, who co-hosts the 9 a.m. segment of the show, is expected to replace Curry.

Curry will remain at NBC News, saying she's been given a "fancy new title" to lead a reporting team. NBC said she will be anchor-at-large and national and international correspondent. Her work will occasionally resurface on "Today," and Lauer said she will be in London with the show for the Olympics.

He sat next to Curry, Al Roker and Natalie Morales on the couch as Curry choked back tears and apologized for being a "sob sister."

"It's not goodbye, not by a long shot," a grim-faced Lauer said.

Each of her colleagues recalled some of Curry's reporting from her "Today" tenure, but there was no video tribute. The "Today" website displayed "15 top Ann moments spanning her 15 years on TV," asking viewers to vote on their favorite.

"To all of you watching, thank you from the bottom of my heart for letting me touch yours," she said.

___

Online:

http://today.msnbc.msn.com/

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/4e67281c3f754d0696fbfdee0f3f1469/Article_2012-06-28-TV-NBC-Curry/id-132a354d2a56466f8d1b3f26d58df2f5

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Court won't hear 'wardrobe malfunction' appeal

Source: http://news.yahoo.com/court-wont-hear-wardrobe-malfunction-appeal-142158007--finance.html

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Thursday, June 28, 2012

The Magic Of Thinking Big (cont) | Brisbane Personal Trainer ...

Believe You Can And You Will pages 22-34

Mr. Coldiner?s advice is sound and practical. Live it. Persons
who reach the top rungs in business management, selling, engineering,
religious work, writing, acting, and in every other pursuit
get there by following conscientiously and continuously a
plan for selfdevelopment and growth.
Any training program-and that?s exactly what this book
, is-must do three things. It must provide content, the what-todo.
Second, it must supply a method, the how-to-do-it. And third,
it must meet the acid test; that is, get results.
The what of your personal training program for success is
built on the attitudes and techniques of successful people. How
do they manage themselves? How d? they overcome obstacles?
How do they earn the respect of others? What sets them apart
fi?om the ordinary? How do they think?
The how. of your plan for development and growth is a
series of concrete guides for action. These are found in each
chapter. These guides work. Apply them and see for yourself.
What about the most important part of training: results?
Wrapped up briefly, conscientious application of the program
presented here will bring you success and on a scale that may
now look impossible. Broken down into its components, your
personal training program for success will bring you a series
of rewards: the reward of deeper respect from your family,
the reward of admiration from your fi?iends and associates, the
reward of feeling useful, of being someone, of having status, the
reward of increased income and a higher standard of living.
Your training is self-administered. There will be no one
standing over your shoulder telling you what to do and how to
do it. This book will be your guide, bur only you can understand
yourself. Only you can command yourself to apply this training.
Only you can evaluate your progress. Only you can bring about
corrective action should you slip a little. In short, you are going
to train yourself to achieve bigger and bigger success.
You already have a fully equipped laboratory in which you
can work and study. Your laboratory is? all around you. Your laboratory
consists of human beings. This laboratory supplies you
with every possible example of human action. And there is no
limit to what you can learn once you see yourself as a scientist
in your own lab. What?s more, there is nothing to buy. There is
no rent to pay. There are no fees of any kind. You can use this
laboratory as much as you like for free.
As director of your own laboratory. you will want ro do
what every scientist does: observe and experiment.
Isn?t it surprising to you that most people understand so
little about why people act as they do even though they are surrounded
by people all their lives? Most peopfe are not trained
observers. One important purpose of this book is to help you
train yourself to observe, to develop deep insight into human
action. You?ll want to ask yourself questions like ?Why is John so
successful and Tom just getting by?? ?Why do some people have
many friends and other people have only few friends?? ?Why
will people gladly accept what one person tells them but ignore
another person who tells them the same thing??
Once trained, you will learn valuable lessons just through
the very simple process of observing ..
Here are two special suggestions to help you make yourself
a trained observer. Select for special study the most successful
and the most unsuccessful person you know; Then, as the book
unfolds, observe how closely your successful friend adheres
to the success principles. Notice also how studying the two
extremes will help you see the unmistakable wisdom of following
the truths outlined in this book.
Each contact you make with another person gives you
a chance to see success development principles at work. Your
objective is to make successful action habitUal. The more we
practice, the. sooner it becomes second nature to act in the
desired way.
Most of us have fi:iends who grow things for a hobby. And
we?ve all heard them say something like ?It?s exciting to watch
those plants grow; Just look how they respond to plant food and
water. See how much bigger they are today than they were last
week.?
To be sure, it is thrilling to watch what can happen when
men cooperate carefully with nature. But it is not one-tenth as
fascinating as watching yourself respond to your own carefully
administered thought management program. It?s fun to feel
yourself growing more confident, more effective, more successful
day by day, month by month. Nothing-absolutely nothing-
in this life gives you more satisfaction than kllowing you?re
on the road to success and achievement. And nothing stands as a
bigger challenge than making the most of yourself,

CURE YOURSELF OF EXGUSITIS,
THE FAILURE DISEASE
PEOPLE?AS YOU THINK YOURSELF to success, that?s what you
will study, people. You will study people very caref?lly to discovel;
then apply, success-rewarding principles to your life. And
you Want to begin right away.
Go deep into your study of people, and you?ll discover unsuccessful
people suffer a mind-deadening thought disease. We call
this disease excusitis. Every failure has this disease in its advanced
form. And most ?average? persons have at least a mild case of it.
You will discover that excusitis explains the difference
between the person who is going places and the fellow who is
barely holding his own. You will fuid that the more successful the
individual, the less inclined he is to make excuses.
But the fellow who has gone nowhere and has no plans for
getting anywhere always has a bookful of reasons to explain why.
Persons with mediocre accomplishments are qUick to explain why
they haven?t, why they don?t, why they can?t, and why they aren?t.
Study the lives of successful people and you?ll discover this:
all the excuses made by the mediocre fellow could be but aren?t
made by the successful person.

I have never met nor heard of a highly successful business
executive, military officer, salesman, professional person, or leader
in any field who could not have found one or more major excuses
to hide behind. Roosevelt could have hidden behind his lifeless
legs; Truman could have used ?no college education?; Kennedy
could have said, ?I?m too young to be president?; Johnson and
Eisenhower could have ducked behind heart attacks.
Like any disease, excusitis gets worse if it isn?t treated properly.
A victim of this thought disease goes through this mental
process: ?I?m not doing as well as I should. What can I use as an
alibi that will help me save face? Let?s see: poor health? lack of
education? too old) too young? bad luck) personal misfortune?
wife? the way my family brought me up)?
Once the victim of this failure disease has? selected a ?good?
excuse, he sticks with it. Then he relies on the excuse to explain
to himself and others why he is not going forward.
And each time the victim makes the excuse, the excuse
becomes imbedded deeper within his subconsciousness. Thoughts,
positive or negative, grow stronger when fertilized with constant
repetition. At first the victim of excusitis knows his alibi is more
or less a lie. But the more frequently he repeats it, the more convinced
he becomes that it is completely true, that the alibi is the
real reason for his not being the success he should be.
Procedure One, then, in your individual program of thinking
yourself to success, must be to vaccinate yourself against
eXCJlsitis, the disease of the failures.
THE FOUR MOST COMMON FORMS OF EXCUSITIS
Excusitis appears in a wide variery of forms, but the worst types
of this disease are health excusitis, intelligence excusitis, age
CUREYOURSELF OF EXCUSITIS,THE FAILURE DISEASE 27
excusitis, and luck excusitis. Now let?s see just how we can protect
ourselves from these four common ailments.
1. ?But My Health Isn?t Good.?
Health excusitis ranges all the way from the chronic ?1 don?t feel
good? to the more specific ?I?ve got such-and-such wrong with
me.?
?Bad? health, in a thousand different forms, is used as an
excuse for failing to do what a person wants to do, failing to
accept greater responsibilities, failing to make more money, failing
to achieve success.
Millions and millions of people suffer from health excusitis.
But is it, in most cases, a legitimate excuse? Think for a moment
of all the highiy successful people you know who could-but
who don?t-use health as an excuse.
My physician and sutgeon friends tell me the perfect specimen
of adult life is nonexistent. There is something physically
wrong with everybody. Many surrender in whole or in .part to
health excusitis, but success-thinking people do not .
. 1\vo experiences happened to me in one afternoon that
illustrate the correct and incorrect attitudes toward health. 1 had
just finished a talk in Cleveland. Afterwards, ohe fellow; about
thirty, asked to speak to me privately for a few minutes. He complimented
me on the meeting but then said, ?T m afraid your
ideas can?t do me much good.?
?You see,?? he continued, ?I?ve got a bad heart, and I?ve got
to hold myself in check.? He went on to explain that he?d seen
four doctors but they couldn?t fmd his trouble. He asked me
what 1 would suggest he do.
?Well,?? 1 said, ?1 know nothing about the heart, but as one
layman to another, here are three things I?d do. First, I?d visit the
finest heart specialist I could find and accept his diagnosis as final.
You?ve already checked with four doctors, and none of them has
found anything peculiar with your heart. Let the fifth doctor be
your final check. It may very well be you?ve got a perfectly sound
heart. But if you keep on worrying about it, eventually you may
have a very serious heart ailment. Looking and looking and looking
for an illness often actually produces illness.
?The second thing I?d recommend is that you read Dr.
Schindler?s great book, How to Live 365 Days a Year. Dr. Schindler
shows in this book that three out of every four hospital beds are
occupied by people who-have Ell-Emotionally Induced Illness.
Imagine, three out of four people who are sick right now would
be well if they had learned how to handle their emotions. Read
Dr. Schindler?s book and develop your program for ?emotions
management:
?Third, I?d resolve to live until I die.? I went on to explain to
this troubled fellow some sound advice I received many years ago
from a lawyer friend who had an arrested case of tuberculosis.
This friend knewhe would have to live a regulated life but this
hasn?t stopped him from practicing la\?I, rearing a fme family, and
really enjoying life. My friend, who now is seventy-eight years
old, expresses his philosophy in these words: ?j?m going to live
until I die and I?m not going to get life and death confused. While
I?m on this earth I?m going to live. Why be only half alive? Every
minute a person spends worrying about dying is just one minute
that fellow might as well have been dead.?
I had to leave at that point, because I had to be on a certain
plane for Detroit. On the plane the ~econd but much more pleas
ant experience occurred. After the noise of the takeoff, I heard
a ticking sound. Rather startled, I glanced at the fellow sitting
beside me, for the sound seemed to be coming fi?om him.
He smiled a big smile and said, ?Oh, it?s not a bomb. It?s
just my heart.?
I was obviously surprised, so he proceeded to tell me what
had happened.
Just twenty-one days before, he had undergone an operation
tllat involved putting a plastic valve into his heart. The
ticking sound, he explained, would continue for several months,
until new tissue had grown over the artificial valve. I asked him
what he was going to do.
?Oh,? he said, ?I?ve got big plans. I?m going to study law
when I get back to Minnesota. Someday I hope to be in government
work. The doctors tell me I must. take it easy for a few
months, but after that I?ll be like new.?
There you have two ways of meeting health problems. The
first fellow, not even sure he had anything organically wrong
with him, was worried, depressed, on the road to defeat, wanting
somebody to second his motion that he couldn?t go forward.
The second individual, after undergoing one of the most difficult
of operations, was optimistic, eager to do something. The difference
lay in how they thought toward health!
I?ve had some very direct experience with health excusitis.
I?m a diabetic. Right after I discovered I had this ailment (about
5,000 hypodermics ago), I was warned, ?Diabetes is a physical
condition; but the biggest damage results from having a negative
attitude toward it. Worry about it, and you may have real
trouble.?
Naturally, since the discovery of my own diabetes, I?ve gotten
to know a great many other diabetics. Let me tell you about
two extremes. One fellow who has a very mild case belongs to
that fraternity of the living dead. Obsessed with a fear of the
weather, he is usually ridiculously bundled up. He?s afi?aid of
infection, so he shuns anybody who has the slightest sniffle. He?s
afraid of overexertion, so he does almost nothing. He spends
most of his mental energy worrying about what might happen.
He bores other people telling them ?how awful? his problem
really is. His real ailment is not diabetes. Rather, he?s a victim of
health excusitis. He has pitied himself into being an invalid.
The other extreme is a division manager for a large publishing
company. He has a severe case; he takes about thirty times as
much insulin as the fellow mentioned above. But he is not living
to be sick. He is living to enjoy his work and have fun. One day
he said to me, ?Sure it is an inconvenience, but so is shaving. But
I?m Hot going to think myself to bed. When I take those shots, I
just praise the guys who discovered insulin.?
A good fi?iend of mine, a widely known college educator,
came home fi?om Europe in 1945 minus one arm. Despite his
handicap, John is always smiling, always helping others. He?s
about as optimistic as anyone I know. One day he and I had a long
talk about his handicap.
?It?s just an arm,? he said, ?Sure, two are better than one.
But they just cut off my arm. My spirit is one hundred percent
intact. I?m really grateful for that.?
Another amputee friend is an excellent golfer. One day I
asked him how he had been able to develop such a near-perfect
style with just one arm. I mentioned that most golfers with two
anns can?t do nearly as well. His reply says a lot. ?Well, it?s my
experience,? he said, ?that the right attitude and one arm will
beat the wrong attitude and two arms every time.? The right
attitude and one arm will beat the wrong attitllde and two arms every
time. Think about that for a while. It holds true not only on the
golf course but in every facet of life.
Four Things You Can Do to Licl( Health Excusitis
The best vaccine against health excusitis consists of these four
doses:
1. Refuse to talk about your health. The more you talk about
an ailment, even the common cold, the worse it seems to
get. Talking about bad health is like putting fertilizer on
weeds. Besides, talking about your health is a bad habit.
It bores people. It makes one appear self-centered and
old-maidish. Success-minded people defeat the natural
tendency to talk, about their ?bad? health. One may (and
let me emphasize the word may) get a little sympathy, but
one doesn?t get respect and loyalty by being a chronic
complainer.
?2. Refuse to worry about your health. Dr. Walter Alvarez,
emeritus consultant to the world-famous Mayo Clinic,
wrote recehtly, ?I always beg worriers to exercise some selfcontrol.
For instance, when I saw this man (a fellow who
was convinced he had a diseased gallbladder although eight
separate X-ray examinations showed that the organ was
perfectly normal), I begged him to quit getting his gallbladder
X-rayed. I have begged hundreds of heart-conscious
men to quit getting electrocardiogra,ms made.?
3. Be genuinely grateful that your health is as good as it is.
There?s an old saying worth repeating often: ?1 felt sorry for
myself because 1 had ragged shoes until 1 met a man who had
no feet.? Instead of complaining about ?not feeling good,?
it?s far better to be glad you are as healthy as you are. Just
being grateful for the health you have is powerful vaccination
against developing new aches and pains and real illness.
4. Remind yourself often, ?It?s better to wear out than rust
out.? Life is yours to enjoy. Don?t waste it. Don?t pass up
living by thinking yourself into a hospital bed.
2. ?But You?ve Got to Have Brains to Succeed.?
Intelligence excusitis, or ?1 lack brains,? is common. In fact, it?s
so common that perhaps as many as 95 percent of the people
around us have it in varying degrees. Unlike most other types of
excusitis, people suffering from this particular type of the malady
suffer in silence. Not many people will admit openly that they
think they lack adequate intelligence. Rather, they feel it deep
down inside.
Most of us make two basic errors with respect to intelligence:
1. We underestimate our own brainpower.
2. We overestimate the othei? fellow?s brainpower,
Because of these errors many people sell themselves short.
They fail to tackle challenging situations because it ?takes a brain.?
But along comes the fellow who isn?t concerned about intelligence,
and he gets the job.

What really matters is not how much intelligence you have
but how you use what you do have. The thinking that guides
your intelligence is much more important than the quantity of
your brainpower. Let me repeat, for this is vitally important: the
thinking that guides your intelligence is much more important than
how much intellige11ce you may have.
In answering the question, ?Should your child be a scientist??
Dr. Edward Teller, one of the nation?s foremost physicists,
said, ?A child does not need?a lightning-fast mind to be
a ?scientist, nor does he need a miraculous memory, nor is it
necessary that he get very high grades in school. The only point
that counts is that the child have a high degree of interest in
science.?
Interest, enthusiasm, is the critical factor even in science!
With a positive, optimistic, and cooperative attitude a person
with an IQ of 100 will earn more money, win more respect,
and achieve more success than a negative, pessimistic, uncooperative
individual with an IQ of 120.
Just enough sense to stick with something-a chore, task,
project-until it?s completed pays off m,!ch better than idle intelligence,
even if idle intelligence be of genius caliber.
For stickability is 95 percent of ability.
At a homecoming celebration last year I met a college
friend whom I had not seen for ten years. Chuck was a very
bright student and was graduated with honors. His goal when I
last saw him was to own his own business in western Nebraska.
I asked Chuck what kind of business he fmally established.
?Well,? he confessed, ?I didn?t go into business for myself. I
wouldn?t have said this to anyone five years ago or even one year
ago, but now I?m ready to talk about it.
?As I look back at my college education now, I see that
I became an expert in why a business idea won?t work out. I
learned every conceivable pitfall, every reason why a small business
will fail: ?You?ve got to have ample capital;? ?Be sure the
business cycle is right;? ?Is there a big demand for what you will
offer?? ?Is local industry stabillzed??-a thousand and one things
to check out.
?The thing that hurts most is that several of myoId high
school friends who never seemed to have much on the ball and
didn?t even go to college now are very well established in their
own businesses. But me, I?m just plodding along, auditing freight
shipments. Had I been drilled a little more in why a small business
can succeed, I?d be better off in every way today.?
The thinking that guided Chuck?s intelligence was a lot
more important than the amount of Chuck?s intelligence.
Why som~ brilliant people are failures. I?ve been close for many
years to a person who qualifies as a genius, has high abstract
intelligence, and is Phi Beta Kappa. Despite this very high native
intelligence, he is one of the most unsuccessful people I know.
?He has a very mediocre job (he?s ali?aid of responsibility). He
has never married (lots of marriages end in divorce). He has few
friends (people bore him). He?s never invested in property of any
kind (he might lose his money). This man uses his great brainpower
to prove why things won?t work rather than directing his
mental power to searching for ways to succeed.
Because of the negative thinking that guides his great reservoir
of brains, this fellow contributes little and creates nothing.
With a changed attitude, he could do great things indeed. He
has the brains to be a tremendous success, but not the thought
power.

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Google Now: Real-Time Updates And Notifications For Android

Android users are about to get access to real-time notifications and data through a cool-looking new feature called Google Now. It's part of the new features in Android 4.1 Jelly Bean unveiled this morning at Google I/O. To explain the feature, Googlers demonstrated how Google Now might assist them in the course of a regular day. First of all, Google Now will remind you about appointments, and then it can use your travel preferences (like the fact that you prefer to take mass transit rather than drive) and real-time data to tell you exactly when you need to leave so that you arrive on time.

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USAID cuts funding for Elmo on Pakistan TV

The US cut $20 million for Pakistani version of Sesame Street. USAID alleges fraud against the show's producers, but the cutbacks come as the US is pulling back foreign aid.

By Scott Baldauf,?Staff writer / June 6, 2012

Pakistan?s version of Sesame Street ? complete with an Elmo who squeals in Urdu ? is facing a cutback in support from USAID, America?s Agency for International Development.

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Pakistan?s version of Sesame Street ? complete with an Elmo who squeals in Urdu ? is facing a cutback in support from USAID, America?s Agency for International Development.

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10 Things to Know for Tuesday

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LinkedIn? API Integrates with PeoplesVC Crowd-Powered Venture ...

PETERBOROUGH, N.H., June 26, 2012 /PRNewswire/ ? PeoplesVC today announced it has integrated its stock crowdfunding site with LinkedIn?, the nation?s largest business networking site, so entrepreneurs, startups, and existing businesses can harness the power of online business networking to raise capital for their company.

(Logo: http://photos.prnewswire.com/prnh/20120509/NE03136LOGO )

PeoplesVC.com has established itself as a leading stock-based Crowdfunding Portal, and is exclusively focusing on Crowdfunding securities rather than ?donation? or ?project-based? crowdfunding in which funders give or donate money for projects.? PeoplesVC has responded to recently passed legislation known as the ?Crowdfunding Act? which has legalized, for the first time, stock offerings of up to $1 Million from startups and existing businesses directly to the public.

?Most small businesses have never heard of Crowdfunding, but already have a deep on-line business network established,? commented PeoplesVC spokesperson Mr. Noah Tier.???The entire fundraising process is more about business relationships than anything else, and considering a user could easily have 130,000 tier I II business connections, by integrating the PeoplesVC venture capital platform with the LinkedIn? application interface, we have created possibly the most powerful fundraising tool imaginable,? added Mr. Tier.?

PeoplesVC was the first stock Crowdfunding site to open its doors to entrepreneurs and small businesses.?

The Company recently announced it had created the first on-line calculator tool that calculates how much Investors can invest in Crowdfunded businesses, as this number can be different for each investor because it depends upon personal financial information such as income and net worth.

Recent reports have predicted that the average American will invest 1% of their income in crowdfunded companies, which will create a sizable capital market opportunity for entrepreneurs, startups, and small businesses.

LinkedIn? is a Registered Trademark owned by LinkedIn, Inc.

About PeoplesVC.com

Peoples VC, LLC was founded to enable individual investors to participate in Venture Capital investments and the growth and success of small companies, while helping entrepreneurs succeed through grassroots funding.? Harnessing the power of the Internet, Business and Social Networking, and recently passed U.S. laws, PeoplesVC.com?s ??Crowdfunding Portal? is a catalyst for rapid change, jobs growth, and innovation. The company can be found online at http://www.PeoplesVC.com/

Article source: http://finance.yahoo.com/news/linkedin-api-integrates-peoplesvc-crowd-160800306.html

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Wednesday, June 27, 2012

Photos of Google's Vic Gundotra wearing the latest, blue-hued Glass prototype

Sergey Brin briefly pulled out a light blue prototype of Google Glass whilst on stage at Google I/O, and as it turns out, those are evidently the latest and greatest models that the company is willing to wear around. We ran into social exec Vic Gundotra after this morning's keynote, only to find him donning precisely the same set that was teased on stage. We asked if the blue was just part of Google's experimentation with coloring Glass, and he chuckled while confessing that he wasn't authorized to speak further about the project or its ambitions. Still, the man looks good in blue. And something tells us you would, too.

Gallery: Google's Vic Gundotra wearing blue Glass prototype at Google I/O 2012

Photos of Google's Vic Gundotra wearing the latest, blue-hued Glass prototype originally appeared on Engadget on Wed, 27 Jun 2012 15:24:00 EDT. Please see our terms for use of feeds.

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Living brain image wins photo prize

Bright-red blood vessels and thick purple veins meander across the surface of a living human brain in the winning image in this year's Wellcome Image Awards contest.

A rare peak inside the skull beat out a plethora of other gorgeous shots for first prize, including a colorful caffeine crystal and a spiny, aqua-colored moth fly that could pass as an extraterrestrial.

Cardiff University anatomist Alice Roberts, one of the judges of the annual biomedical photography contest, praised the winning image for its glimpse at the unknown. [ See the Wellcome Trust Winning Photos ]

"Through the skill of the photographer, we have the privilege of seeing something which is normally hidden away inside our skulls," Roberts said in a statement. "The arteries are bright scarlet with oxygenated blood, the veins deep purple, and the 'grey matter' of the brain a flushed, delicate pink. It is quite extraordinary."

Medical photographer Robert Ludlow captured the image of the living brain while observing brain surgery on a patient with epilepsy. Neurosurgeons implanted electrodes in the brain to detect areas where typical electrical communications in the brain had gone haywire, triggering seizures. In subsequent surgery, these areas were removed, and the patient made a full recovery.

"For me, the context, the composition and the clarity of this image made it a winner," Roberts said.

Stunning runners-up included a scanning electron microscope view of a moth fly (Psychodidae), whose body fuzz and segmented eyes give it the look of something out of a science-fiction or fantasy film.

Photographer Kevin Mackenzie, who manages the Microscopy and Histology Core Facility at the University of Aberdeen, found the fly hanging out on his kitchen wall. A scientist's curiosity kept him from simply swatting the insect.

"I'd seen nothing like it before, so it definitely warranted a closer look under the scanning electron microscope," Mackenzie said.

A splintered caffeine crystal was among the three images that earned University of London scientists Annie Cavanagh and David McCarthy a place among the honorees. The artistically inclined duo also got kudos for a surreal green-and-yellow close-up of a lavender leaf and for a bold starburst image of a crystal of loperamide, an anti-diarrhea drug.

More science news from msnbc.com
1. Scientists to reveal Stephen Hawking's 'brain hack'
  Science editor Alan Boyle's blog: After months of tweaking, researchers are finally ready to show off a high-tech headband that can translate Stephen Hawking's brain waves into speech.
2. Seven summer books for smarties
3. Work unearths ancient road in Greece
4. Missing link for wonky-eyed flatfish found

Anne Weston, an honoree from Cancer Research UK, made the top 16 for her image of a brilliant pink diatom, or unicellular organism, that looks like a radiation symbol. Asked why the uncanny resemblence, Weston wrote, "In fact, the question here should be 'Why does a radiation symbol look like a diatom?' because the diatom would have existed long before the radiation symbol was designed or even thought of! There are thousands of species of diatoms, and this particular type just happens to have this unique and interesting structure."

The photography contest is sponsored by the research-funding agency the Wellcome Trust. This is the first year that the organization has offered a first prize rather than a list of honorees. Prizes were presented June 20 in London, and the winning images will be displayed at the Wellcome Collection in that city until December 2012.

Follow Stephanie Pappas on Twitter @sipappas ??or LiveScience @livescience.? We're also on Facebook ? and Google+.

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Tuesday, June 26, 2012

Stockton official: Mediation with creditors fails

FILE - In this Feb. 29, 2012 file photo, a Stockton city worker walks away from city hall in Stockton, Calif. Stockton, the California city with the second-highest foreclosure rate in the nation, is facing a moment of decision on whether to become the biggest American city to file for bankruptcy, as the deadline for talks between the city and its creditors approaches late Monday. (AP Photo/Ben Margot, file)

FILE - In this Feb. 29, 2012 file photo, a banner proclaiming Stockton as an All-America city hangs from city hall in Stockton, Calif. Stockton, the California city with the second-highest foreclosure rate in the nation, is facing a moment of decision on whether to become the biggest American city to file for bankruptcy, as the deadline for talks between the city and its creditors approaches late Monday. (AP Photo/Ben Margot, file)

FILE - In this Feb. 29, 2012 file photo, a view of the Stockton waterfront is seen from the Waterfront Hotel in Stockton, Calif. Stockton, the California city with the second-highest foreclosure rate in the nation, is facing a moment of decision on whether to become the biggest American city to file for bankruptcy, as the deadline for talks between the city and its creditors approaches late Monday. (AP Photo/Ben Margot, file)

STOCKTON, Calif. (AP) ? Officials in Stockton said Tuesday that mediation with the city's creditors has failed, meaning it is set to become the largest American city ever to declare bankruptcy.

City Manager Bob Deis said officials were unable to reach a deal to restructure hundreds of millions of dollars of debt under a new state law designed to help municipalities avoid bankruptcy.

Monday marked the three-month deadline for negotiations.

"Unfortunately we have no comprehensive set of agreements with our creditors that would eliminate the deficit and avoid insolvency," Deis said at a City Council meeting. He said, however, that the city was still negotiating with some creditors and could reach deals with as many as one-third of them.

"We think Chapter 9 protection is the only choice left. If we get any agreements, those will be honored in Chapter 9," Deis said.

The Council was expected to vote later Tuesday on a special bankruptcy budget to plug next year's anticipated $26 million deficit, and city lawyers could file for Chapter 9 protection in court as soon as Wednesday.

The river port city of 290,000 in Central California has seen its property taxes and other revenues decline, while expensive investments and generous retiree benefits drained city coffers.

In the past three years, officials in the city that was slammed by the collapse of the housing market dealt with $90 million in deficits through a series of drastic cuts.

They eliminated one-fourth of the city's police officers, one-third of the fire staff, and 40 percent of all other employees. They also cut wages and medical benefits.

To plug next year's anticipated $26 million shortfall, the proposed budget would suspend payments for debts and legal claims, reduce payments for retiree medical benefits, further cut some pay and benefits, and increase revenue through code enforcement and parking citations.

The proposed budget includes no major service reductions, Deis said earlier.

"The whole purpose of filing Chapter 9 is to avoid an uncontrolled chaotic situation," he said. "Bankruptcy provides the equivalent of a pause button. It retains services and provides structure so you don't have a bunch of lawsuits."

In a standing-room only chambers Tuesday, former city employees told council members talked about their life-threatening medical conditions and said benefit cuts meant they would effectively lose their health insurance.

"For me, bankruptcy might as well be a life sentence," said Gary Jones, a retiree who used to be a police officer in Stockton and said he was diagnosed with a brain tumor.

Other residents complained about plummeting property values, and recurring break-ins and robberies.

"he average citizen will not put up with this. Their home prices have plummeted, they have no jobs, a lot of people are getting fed up so that they have to resort to crime." said Gregory Pitsch, a 22-year-old unemployed resident who made an unsuccessful run for mayor. "I'm asking you to make the right decision, not destroy the property values in this city, which bankruptcy will do."

But city officials said Stockton has run out of options. In recent years, thousands of new homes mushroomed in Stockton, part of a suburban housing boom that attracted buyers from the San Francisco Bay area and beyond.

When the economy crashed and the construction bubble burst, Stockton was battered by foreclosures and lost income from property taxes and other fees.

Multi-year labor contracts for city workers carrying escalating costs and generous retirement plans added to the burden.

In addition, expensive city investments ? a promenade, sports arena and hotel ? failed to produce an economic boon.

The city also has high crime and unemployment rates. It has twice topped Forbes magazine's list of "America's most miserable cities."

Under a bankruptcy filing, officials would retain power over day-to-day city operations and staffing, but a judge would take over all decisions concerning the city's debts, said Robert Benedetti, professor of political science at the University of the Pacific in Stockton.

The judge would decide which creditors should be paid, how much and in what order. He would make allowances for expenditures needed by the city to function, and it would be up to city officials to decide how to spend that money.

"One of the reasons a city might want to go the bankruptcy route is that they don't want a situation where they have to pay out debts and have to close the police or fire department," Benedetti said. "Filing for Chapter 9 means you're asking the court to protect you against lawsuits from people who hold your debt."

Stockton's bankruptcy would make it the largest city by population to file for Chapter 9 protection, according to Jim Spiotto, a Chicago bankruptcy lawyer who tracks such cases. He said Bridgeport, Conn., was the largest city to file for bankruptcy, which it did in 1991, followed by Vallejo, Calif., which filed in 2008.

Jefferson County in Alabama is the largest local government bankruptcy filing to date in terms of the size of its debt. It occurred in November 2011 and was followed by Orange County, Calif., in 1994.

If a judge approves a bankruptcy plan, money to pay creditors would come from Stockton's general fund, which pays chiefly for public safety, including police and fire protection.

Experts say the bankruptcy filing, while protecting the city from catastrophe in the short run, should not be seen as Stockton's panacea.

"Bankruptcy won't take away Stockton's underlying financial problems, one of which is the economy, the high unemployment rate and the high foreclosure rate," Benedetti said. "It will take years for them to come out of this."

Stockton was the first city to test a new state mediation law, Assembly Bill 506, which is less than 6 months old.

Under the law, municipalities considering bankruptcy must first negotiate behind closed doors with creditors for up to three months, with the goal of settling debts without filing for Chapter 9 protection.

Stockton officials have said that even with a bankruptcy, they are optimistic. They point to Vallejo, a smaller California city that filed for Chapter 9 protection in 2008 and emerged from bankruptcy last year.

"Vallejo is leaner, smarter and they've got the confidence of their citizenry," Deis said. "I think Stockton will be doing the same."

Benedetti said Stockton has some things going for it: An excellent location, successful inland port and good university.

"It has some promising economic resources, so it's not all down and out," he said.