Thursday, September 15, 2005

Chicago To Tap Muni Market Through Direct Internet Sale

That's right the city of Chicago is selling Muni Bonds directly to investors through the Internet. The bonds will be sold in smaller lots of 1000 making them more widely available to a broader base of investors. Usually muni bonds are packaged in larger lots of 5000. Their tax benefits made them attractive to high net worth individuals, but now maybe some of the rest of us will enjoy tax free investments. I wonder how brokers will compete with the new technology.

Chicago will sell up to $150 million in securities earmarked for general city projects through the Internet. The bonds will be sold in a range of maturities, with a $1,000 minimum, over a two- to three-month period starting Sept. 21

Return and coupon on interest payments from muni bonds are exempt from federal tax and also state and local taxes if the investor lives in the city and state that the bonds are issued in. So if I live in New York City and I buy an MTA bond, as an investor I can collect interest on my investment without worrying about uncle SAM taking out a cut.

September 15, 2005 in On the Front Lines | Permalink | Comments (0) | TrackBack

Wednesday, May 25, 2005

Mowing Grass in Iraq

Operation Home

Sometimes we forget how good we have it and how lucky we are.

May 25, 2005 in Around Town - Giving back, Milestones, On the Front Lines, Road Trip | Permalink | Comments (0) | TrackBack