The project would go from New Jersey to Virginia in the Atlantic Ocean and would serve as ‘an underwater backbone’ 15 miles offshore for various wind farms. The first phase of the project is expected to cost at least $5 billion and could be providing service by 2016. The operation would make it more feasible for offshore wind developers to set up shop without creating individual transmission lines.  This saves both time and money in the long-run of the wind development industry.

Google has agreed to take a 37.5% stake in the initial stages of development on the project. New York-based Good Energies has also agree to take the same stake in the project. One Google’s blog, the company’s Green Business Operation Director, Rick Needham noted the project ‘”offers a solid financial return while helping to accelerate offshore wind development — so it’s both good business and good for the environment.”

The New York Times is reporting the deal is far from done and the project still has some issues to deal with before construction can start. One primary issue is that effective 2012, federal subsidies for the wind power installation construction will expire before permits could be issued by the US Department of the Interior.

Another issue with the proposed project affects the state of Virginia whose energy costs are currently the cheapest. The projects completion would mean the costs of energy would be evened out through the region and Virginia officials are opposed to the project.

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Wells Fargo Securities is meant to act as a dealer of International Bank for Reconstruction and Development notes (or World notes) issued through the Global Debt Issuance Facility. The direct recipients of these notes include customers who receive them via Wells Fargo Investments and Wells Fargo Advisors, the company’s brokerage firms.

Initially launched in the second quarter of this year, the measure has already raised around $120 million to replenish the World Bank. Thus it has helped fund the stated objectives of the organization, such as improving global standards of living, health, education, as well environmental protection among others.

Kenneth Lay, the Vice President and Treasurer of the World Bank, made a few comments about the situation, stating that the company was happy to be offering more opportunities to reach investors in the United States. Additionally, he was optimistic about the opportunities to finance bigger projects geared towards achieving sustainable improvements to the standards of living in the global community. He and said it was help that the measures were giving the World Bank more visibility in the U.S.

The name of the game has been to create a reasonable program to distribute investment opportunities to a wider cross section of Wells Fargo customers, while also providing necessary funds to the World Bank. The latter point is looked upon by some as a very noble gesture.

The topics of sustainability and environmental protection are definitely in the social consciousness and will continue to play an increased role as time goes on. The World Bank stands to benefit in a number of ways. Those who are interested in finding out more about this situation – especially the World Bank bonds and the Global Debt Issuance Facility may do further research online or by visiting their website at www.worldbank.org/debtsecurities.

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Winners from the voting have finally been announced, here’s a list of companies who won, the prize money awarded, and the themes they entered:

$1 Million in Prize Money

Shweeb entered a “drive innovation in public transport” theme. The general idea is human-powered vehicles that look a lot like recumbent bikes, traveling over a monorail system. The prize money will be used in research of making these personal transportation systems a viable option for short-distances in urban environments.

$2 Million in Prize Money

The Khan Academy entered “make educational content available online for free” theme. The academy current does this with a library containing almost 2,000 video lessons in math, finance, history and science. The money will be used to create additional courses and to help Khan Academy translate their existing library into multiple languages.

The PublicResource.Org entered the theme of “making government more transparent”, where they will attempt to get support for making public legal materials available at no cost to consumers. At this time, the court systems charge 8 cents per page to access legal materials filed in federal court (through PACER). Their theme would bring these materials to the public at no cost.

The African Institute for Mathematical Sciences entered a theme of “providing quality education to African Students” in an effort to help talented graduates in South Africa move on to higher education programs in Mathematics.

$3 Million in Prize Money

FIRST entered the theme “enhance science and engineering education” as an effort to get young people excited about technology and science. They create team-based competitions for building robots or lego buildings. The money will be used to develop a new student-driven robotics team fundraising program, so more students will be able to participate in teams through FIRST.

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Sallie Mae’s High-Yield Savings Account is earning 1.4% Annual Percentage Yield (APY), requires no minimum balance and charges no minimum monthly fees. The accounts are FDIC insured and can be opened online in just a matter of minutes. If you are also a member of Upromise rewards (free to join), you save even more with a 10% annual match of Upromise rewards earnings. Rewards are earned through everyday spending at online and offline retailers, restaurants, gas stations and grocery stores when you use debit or credit cards you have linked with your Upromise accounts. Money earned in a Upromise account can then be transferred to a college savings program of your choice, such as a 529 Account.

In addition to High-Yield Savings Accounts, Sallie Mae also offers Certificates of Deposit and a variety of college savings plans. CDs with Sallie Mae have no minimum balance or monthly fees and rates from 1.55% APY for 12 months to 3% APY for 60 months. Both the Certificates of Deposits and High-Yield Savings Account are offered through Sallie Mae Bank, member FDIC. Sallie Mae’s Upromise Investments offers tax-advantages 529 savings plans.

“The Sallie Mae savings account earns more interest and helps our family save for college, for us it was a no brainer,” said Julie M., a mother of four from Cincinnati. “The account was no trouble to open and the high rate combined with Upromise benefits will help us build our savings.”

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SLM Corporation (NYSE: SLM), commonly known as Sallie Mae, is the nation’s leading saving, planning and paying for education company. Sallie Mae’s saving programs, planning resources and financing options have helped more than 31 million people make the investment in higher education. Through its subsidiaries, the company manages $182 billion in education loans and serves 10 million student and parent customers. In addition, the company’s Upromise program has enabled 12 million members to earn more than $525 million in rewards to help pay for college. Its Upromise affiliates also manage more than $25 billion in 529 college-savings plans. Sallie Mae offers services to a range of institutional clients, including colleges and universities, student loan guarantors and state and federal agencies. More information is available at www.SallieMae.com. SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America.

Sallie Mae (NYSE: SLM) Announces New Savings Account Interest Rates was created by and is property of American Consumer News.

Experts feel that while Bank of American is making the effort, they are indeed behind in priorities overseas as many of the major competition have long been established in China or are on the cusp of doing so.  Chinese regulators must approve foreign banks before they can set up a major retail banking presence in the country. Citigroup (NYSE: C) has gone through the approval process some time ago, as have Goldman Sachs (NYSE: GS). Currently, JPMorgan Chase (NYSE: JPM) is working on forming a joint venture to expand its investment banking operations in China.

Bank of America did not choose to take the same route before the financial crisis they underwent. Instead, Bank of America acquired a minority stake and a seat on the board at China Construction Bank. They also opened a Shanghai banking branch but did little else to take advantage of opportunities in China, the fastest growing global market. Bank of America targeted America and expanded its franchise for the East Coast to the West, becoming number one in almost every category of retail banking. They led in mortgages, deposits, and credit cards. This achievement was of little merit during a time of economic suffering and consumer credit defaults.

Moynihan stated ‘”In the past our consumer strategy was to be a sales machine and to measure success mainly on a number of products sold. This served us well. But as our market share rose and the economy fell, the strategies resulted in … too many products sold to customers which weren’t working for them.”

Bank of America has benefited from the government-incentivized refinancing options and its shares have increased tremendously from where they were just over a year ago. Its shares have traded up 12% from the beginning of 2010. The company realizes the need for a real strategy that will help build relationships with wealthy Americans and new partnerships overseas. Time will be needed to build these relationships as well as proof of performance.

Bank of America (NYSE: BAC) On the Fast-Track for Growth was created by and is property of American Consumer News.

Use Direct Deposit – Utilizing the direct deposit service to deposit your payroll will help keep you from spending the cash in your hand. It makes sense to utilize direct deposit also to help you save money. Most payroll departments can help you set up a plan to have a certain amount of money deposited directly into a savings account so you can start saving on a continual basis.

401K Contribution – If your company offers a retirement plan, make sure you are putting as much into as you can afford, especially if the company matches your contribution. The money you put in is pretax money so your salary will be hit with less taxes.

Readjust your Withholdings – if you have consistently received a income tax refund, you are not working with the correct withholding numbers. Make sure you are paying in just enough to keep you from getting hit with a tax bill at the end of the year. The money you are overpaying to the government can add up fast and help expand our budget or add to your savings. This readjustment is especially important to remember if you get a raise or have another change in your financial situation. Double check your numbers after filing for the changes to make sure they have been processed.

Reevaluate your Health Insurance – Those who have been at their jobs for a significant period of time often do not take the time or remember to check in with their health care plan. Go over the coverage you have and the amount you are paying then check with your human resource department to discuss alternative plans that may fit your needs but be less expensive. Also, make sure you have the best insurance plan for your family. Perhaps your spouse’s new job offers a better program at better rates and it may be worthwhile to switch to the new plan.

Check Out All of the Company Benefits – Depending on the size of your company and the policies they keep, many offer benefits that go unused simply because people do not know they exist. Take time to read through the company manual or your own employment contract and see what is actually available to company employees. Take advantage of employer-reimbursed tuition, group insurance plans, stock discounts, and other benefits often overlooked.

Request Reimbursements - Companies that offer allowances, especially for travel, often provide additional money to cover the cost of travel. However, this money is added to your income and is therefore taxed. Instead, opt for a reimbursement check for mileage or other travel costs that will not be subjected to additional taxes.

Use Raises/Bonuses Wisely – Whatever percentage raise you earn, increase your contribution to your savings account and your 401k account by the same amount. Since you haven’t been used to having the extra money, you won’t miss it if you direct it away immediately.

How to Get the Most Money Out of Your Paycheck was created by and is property of American Consumer News.