Business

President Nicolas Sarkozy said he expects a meeting of 15 European leaders Sunday to produce an ambitious, coordinated plan to battle the effects of the global financial crisis.

WASHINGTON (AP) - The fallout in developing and poor nations from the economic crisis is drawing attention from global finance ministers as the U.S. and allies seek to present a united front and calm jittery investors. The crisis dominated discussions at the meeting of the Group of Seven industrialized nations and the annual sessions of the International Monetary Fund and World Bank. Many participants spoke in unusually somber tones of the need for action. The talks shifted Sunday to the World Bank and its policy-setting committee, led by Mexican Finance Minister Agustin Carstens and the bank's president, Robert Zoellick, a former U.S. diplomat and trade negotiator.

We’ve been hearing about the plight of people on "Main Street” a lot lately, so I decide to wade through the financial rescue bill — the Emergency Economic Stabilization Act — to see what’s in it for working people away from the turmoil created by financial engineers.

There’s plenty of credits and tax breaks, among them incentives for energy efficiency and residential use of alternative energy. Provisions for disaster relief for victims of Hurricanes Gustav and Ike and extension of some Katrina benefits also were piled in.

But I also encountered this little gem: Transportation Fringe Benefit To Bicycle Commuters.

Inside the $700 billion rescue package is a reimbursement provision for

WASHINGTON — Finance officials from the world’s top economic powers endorsed a plan Friday to stem the worst financial crisis in more than a half-century. The officials from the Group of Seven countries issued the five-point plan aimed at reversing a credit crisis that has unhinged Wall Street and markets around the globe. They pledged to take "decisive action and use all available tools.”Under the plan, the countries vowed to protect major banks and to prevent their failure. They also committed to working to get credit flowing more freely again, support the efforts of banks to raise money from both public and private sources, safeguard bank depositors and revive the battered mortgage financing market.

A quiet revolution was unleashed on American workers in 1981 that continues today and impacts millions.

It was the debut of the 401(k), the retirement savings plan that puts much of the responsibility of both funding and investing on the shoulders of employees. The Johnson Cos. designed the first 401(k) for its employees, which allowed them to defer a portion of their salary tax free into a retirement fund.

A defined shift Both employees and employers found a lot to like in the so-called "defined contribution” retirement plans. The plans are portable, allow employees to direct the investments and reduce responsibilities on employers.

Dave Bialis was enjoying the NBA game between the Hornets and Orlando Magic from his courtside seat at the Ford Center a couple of years ago when Magic guard Steve Francis abruptly stopped in front of him.

"He came over and looked right at me and said ‘watch this play,’” Bialis recalled of the incident. "Just looked right at me and said ‘watch me take over, watch this play.’”

Francis was not motivated by any courtside trash talk or exchange with Bialis, the president of Cox Communications’ Oklahoma operations, said.

"No, no, no; I don’t do that,” Bialis said. "I would never, ever. It was just simply him coming over and saying that. In fact, he got the

As a boy, Neil Garrison spent most of his days outdoors — and usually barefoot. While his father was helping build Lake Eufaula, his family lived in Briartown, a tiny community northwest of Stigler. If Garrison wasn’t in school, he was playing out in the sticks or noodling for catfish in the creek.

It’s not surprising he chose to work around nature. For 30 years, Garrison has worked as a naturalist for Oklahoma City’s Martin Park Nature Center, 5000 W Memorial.

Three jobs in one "I’m part farmer (I raise bunny rabbits, oak trees and wildflowers). I’m part land reserve manager (I supervise trail maintenance, including mowing, trimming trees and cutting fallen trees).

Q: Does Social Security have online tools to help me plan my retirement?

A: The latest is our new online Retirement Estimator, which allows you to test several scenarios to give you an accurate estimate of what you can expect and help you determine the best date for you to retire. Check it out at www.socialsecurity.gov/estimator.

Social Security also has several benefit planners designed to help people with planning their retirement.

You can learn more at www.socialsecurity.gov.

No bank account? Use Direct Express Q: I know Social Security has direct deposit, but what if I don’t have an existing bank account?

A: You can sign up for the new Direct Express card. The Direct Express card is a debit card

→Heritage Trust Co. names Brian Hill vice president/trust officer, Zac Reynolds investment analyst and promotes Jimmy Arter to oil and gas manager. Hill recently worked as an attorney in Tulsa drafting wills and trusts. Reynolds recently worked as an intern with Heritage Trust Co. Arter was promoted from asset manager.

→OU Physicians names Dr. Lieschen Quiroz pelvic and bladder health specialist, Dr. Craig Rabb neurosurgeon and Dr. Justin North radiologist. Quiroz is the only female fellowship-trained urogynecologist in Oklahoma. Quiroz specializes in the diagnosis and treatment of disorders affecting the female pelvic floor. Rabb is board-certified in neurological surgery and specializes in brain and spinal cord injury,

Seminars

Monday

→Moore Norman Technology Center presents "Grant Writing Introduction for Nonprofits,” 6 to 8 p.m., Monday and Wednesday; 13301 S Pennsylvania Ave. Fee: $59. Contact: 364-5763.

Tuesday

→ Moore Norman Technology Center presents "Coaching for Success,” 12:30 to 4:30 p.m. and "PowerPoint Level I, 9 a.m. to 4:30 p.m., both at 13301 S Pennsylvania Ave. Fee: $79 each. Contact: 364-5763.

Thursday

→ Moore Norman Technology Center presents "Moving from Conflict to Collaboration,” 12:30 to 4:30 p.m., 4701 12th Ave., Norman. Fee: $59. Contact: 364-5763.

Meetings

Tuesday

→Oklahoma City Employer Council, 8:30 a.m., Oklahoma History

Though Tuesday’s presidential debate incontestably was fodder for watercooler chats Wednesday, many employees don’t care to discuss politics at work, according to a recent study by the American Management Association.

Thirty-five percent of workers are uncomfortable talking politics with co-workers, the group found, while 38 percent find it uneasy with bosses.

Close to the same numbers are comfortable (39 percent and 40 percent, respectively) and the remaining are neutral.

The results are based on responses from 701 senior executives, managers and employees from organizations within a variety of industries.

Last week, I wrote about the "why” and "what” of investing: To create wealth over the long term by using bond and equity exposure to get there. But that still leaves the big question: How do I invest? This is tougher, especially now when the markets are in turmoil.

It’s these chaotic times when the basics are more important than ever. Here’s a quick review, whether you’re a veteran of many market cycles or a beginner:

→Plan: Start by articulating your financial goals and dreams by putting a time frame on each. You might say, for example, "I want to save for college for my 3-year-old daughter.” What does that indicate in investment terms? Well, it means you have 15 years to

Dear Mr. Berko: I understand your explanation of how leverage of 30-to-1 was responsible for the collapse of Merrill Lynch and other brokerages that owned hundreds of billions of dollars of mortgages. And I understand why the Federal Reserve Board had to guarantee the solvency of some of these brokerages.

But what I don’t understand is why the Fed has to support AIG. This is an insurance company and they don’t own a huge mortgage portfolio.

G.S., Oklahoma City

Dear G.S.: Few people realize the importance of the insurance industry to the mortgage market and why the Federal Reserve Board had to step up to the plate and "billionize” American Insurance Group Inc.

Eagle

There were few bright spots during a frenzied, alarming week on Wall Street.

Leave it to a longtime local company like BancFirst Corp. to give us a little good news. BANF rose 1.9 percent over the past five days.

That may not sound like much, but consider that the Dow and the S&P 500 each slid 18 percent last week. Nearly all of Oklahoma’s energy stocks plummeted 20 percent or more — much more in some cases.

BancFirst’s modest gain reflects that stocks that may be considered by some can be quite satisfying to many in trying times.

Beagle

In a week filled with pain, Quest Resources Corp. is among the state-based public companies that is hurting the most.

CAIRO, Egypt - America's opponents in the Middle East are gloating over the financial meltdown in the United States, painting it as divine retribution for past misdeeds against Muslims and the last gasps of a dying empire. Hardline clerics across the region and groups like Hamas and al-Qaida took delight in America's financial woes even though it has not left the region unscathed, with stock markets across the Middle East dropping more than 10 percent last week. "We are witnessing the collapse of the American Empire," Hamas prime minister in the Gaza Strip, Ismail Haniyeh, told worshippers during Friday prayers. "What's going on in America is a result of the violation of the rights of people in Palestine, Somalia, Iraq, Afghanistan and

NEW YORK - Trillions in stock market value — gone. Trillions in retirement savings — gone. A huge chunk of the money you paid for your house, the money you're saving for college, the money your boss needs to make payroll — gone, gone, gone. Whether you're a stock broker or Joe Six-pack, if you have a 401(k), a mutual fund or a college savings plan, tumbling stock markets and sagging home prices mean you've lost a whole lot of the money that was right there on your account statements just a few months ago.

DETROIT - General Motors Corp. and Chrysler LLC have held preliminary talks about a merger or an acquisition of Chrysler by GM, according to published reports. The Wall Street Journal, citing people it described as familiar with the discussions, reported that Cerberus Capital Management, the private equity firm that owns 80.1 percent of Chrysler and 51 percent of GMAC Financial Services, proposed trading Chrysler's automotive operations to GM. The Journal said Cerberus would receive GM's remaining 49 percent stake in GMAC. The New York Times, also citing people familiar with the talks, reported that the automakers were discussing a merger. The Times did not mention GMAC.