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It’s a Whopper of a sale as Burger King announces it is being purchased by 3G Capital for $4 billion dollars. According to The Economic Times, Burger King executives released a statement saying, “3G Capital announced that it has entered into a definitive agreement with Burger King under which affiliates of 3G Capital will acquire the stock of the company for USD 24 per share or USD 4 billion, including the assumption of the company’s outstanding debt.” The sale is ..read more

The LA Dodgers are yet another thing in California with money problems. Team owner Frank McCourt has levered the team to the tune of $433 million in debt and is now having trouble finding additional financing, according to the LA Times. Some fear the heavy debt will now inhibit the team’s ability to pay players and sign new talent.

The LA Times reported that McCourt was turned down three times, once each by Citibank, a Chinese investment firm and by a ..read more

More than 20 years after the original rocked the box office, the story of Wall Street continues with the movie Wall Street: Money Never Sleeps. The greedy villian Gordon Gekko is released from a lengthy prison sentence. He re-enters the real world with an empty money clip, a gold watch and a boxy sell phone from the late 1980s.

According to the film’s synopsis, Gekko now finds himself on the outside of a world he once dominated. Gekko forms a relationship ..read more

It’s been a year since the Cash for Clunkers program where people received incentives to trade in gas guzzlers for new vehicles. According to the Orange County Register, the Inspector General of the US Department of Transportation recently discovered that many vehicles were not destroyed as required by the program. Officials visited 22 disposal facilities and found that seven of them did not report the final destruction of the clunkers. “For example, one facility, which received 357 CARS vehicles ..read more

Illinois Attorney General Lisa Madigan warned people to watch out for calls from fake payday loan debt collectors. The scam artists are posing as debt collectors in order to get personal information and money. Madigan says the scammers are threatening consumers with legal action and jail time if they don’t authorize payments from bank accounts.

Madigan says her office has seen an increase in consumer complaints about fake collectors. Those being called say they have taken out online payday loans in ..read more

Wondering who to follow in the big wide world of Twitter? There are plenty of great Twitterers out there tweeting about money, debt, and finance– the topics we know you love. So every other Tuesday we’ll be  highlighting a Twitterer to follow. This week ..read more

Some students are starting to pay more attention to the high cost of college– and not just after they graduate. There are a growing number of 20-somethings struggling to pay back their college loans and experts say it’s because they didn’t do a good job saving for college, factoring rising tuition costs or researching opportunities like grants. Many students settled for private loans with high interest rates. “A lot of people are struggling to pay back their (student) loans,” ..read more

Foreclosures jumped by four percent in July. There were an additional 325,229 filings added to the already massive pool of properties in foreclosure. The July numbers marked a ten percent increase compared to July of 2009, according to TheHill.com. It also marked the 17th straight month that foreclosure filings topped 300,000. “Declines in new default notices, which were down on a year-over-year basis for the sixth straight month in July, have been offset by near-record levels of bank ..read more

Ever wonder which state’s residents hold the most consumer debt? New research from the New York Federal Reserve points the finger at Californians. Here are some of the numbers:

Californians carry and average of $77,500 in consumer debt. That’s down by more than $10,000 from 2008. Ohio residents have the least amount of debt, carrying an average of $40,000 per person. More than one out of ten Californians are at least 90 days late on their bills. Nevada and Florida residents ..read more

You may remember back in May when Sarah Ferguson’s financial problems surfaced. The Duchess of York was caught trying to accept money in exchange for access to her ex-husband, Prince Andrew. The pair divorced in 1996 after a ten year marriage. Reports claim that Fergie’s debts have reached 5 million pounds, a massive total despite being given millions by her ex. Officials close to the Duchess say her debt is closer to two million pounds, debt created largely by failed ..read more