Your Money

Your Money

Prof, son reveal keys to happiness

CHAMPAIGN – Money isn't everything, but according to happiness expert Ed Diener, it certainly is something.

"Our research shows money is, in fact, related to happiness," Diener told about 200 people attending a Busey Wealth Management seminar Monday in Champaign.

UI forum panelist dissects causes of economic crisis

URBANA – A University of Illinois finance professor said several factors combined to produce the financial crisis that brought down several banks last month and prompted a proposed $700 billion fix from the federal government.

George Pennacchi said interest rates that were kept low too long, the practice of securitizing mortgages and federal policies subsidizing housing all contributed to the crisis.

Feeling the Pinch: Experts say nest is rickety, but egg will be OK

CHAMPAIGN – As prices rise at the gas pump and grocery store, those counting on their nest egg to grow have been sorely disappointed.

Stocks tumbled this year, with the Dow Jones Industrial Average down 13 percent since Jan. 1. For people whose retirement plans and portfolios are stock-heavy, it's been a dismal time as folks watch their savings shrink.

People who depend on their nest egg for income are particularly troubled. Do they withdraw more money to cover expenses, or simply try to cut back on living expenses? And when will the market turn around?

Close to 25 percent of First Busey borrowers are in Florida

URBANA – Nearly one-quarter of First Busey Corp.'s loans are to borrowers in southwest Florida, the Urbana-based bank holding company disclosed in its quarterly report to the Securities & Exchange Commission last week.

Altogether, the company has $756.2 million in loans in southwest Florida, or 23.9 percent of its total loan portfolio of $3.12 billion, according to the report filed last Friday.