Navigating Donations to 529 Plans - Your Money

The following is an excerpt from an article in 

The New York Times
Saturday, September 01, 2012

Navigating Donations to 529 Plans - Your Money

By RON LIEBER

The best gift any of us can give to newborn babies is to point their sleep-deprived parents in the direction of a good 529 or other college savings plan and then seed the account with a little bit of money.

It was hard to avoid this conclusion in the midst of a recent baby boom among money writers at The New York Times. Tara Siegel Bernard, a personal finance reporter, recently delivered her first child, and Paul Sullivan, the “Wealth Matters” columnist, welcomed his second.

I wanted to get both babies a little something, but knowing what I know about how much four years of college will cost, I couldn’t in good conscience send a stuffed animal or a security blanket.

You would think that the state-sponsored 529 plans around the country would be welcoming givers like me who want to take this sort of initiative. But the process of tossing some money into an account is not as easy as it could, or should, be.

The hassles have given rise to several registry services that let you use credit cards to pay for a 529 gift and spare you the need to contact the plans or the parents. Recently, however, the industry group that represents 529 plans and the companies that serve them raised questions about whether the start-ups were violating securities laws.

Why would they do such a thing, when the services seek only to collect assets to deliver to the 529 funds on a silver platter? To figure out the answer, it helps to start with a bit of refresher on how the 529 plans work.

Anyone can open an account, for themselves or someone else. States run the plans, and you can set up an investment account that allows you to choose among various mutual funds.

Money in these accounts grows tax-free, and you can withdraw it without paying any capital gains taxes as long as it’s used for educational expenses. Moreover, a majority of states offer income tax deductions or credits when people deposit money.

This is all nice and will become more so if our tax rates rise in the next decade or two. And the earlier you start, the more the money has time to grow (and the more you save on taxes).

For more, visit www.nytimes.com.

Former College Football Coach Accused of Running a Ponzi Scheme

The following is an excerpt from an article in 

The New York Times
Friday, August 17, 2012

Former College Football Coach Accused of Running a Ponzi Scheme

By PETER LATTMAN

Federal regulators have accused a Hall of Fame college football coach of running a Ponzi scheme that defrauded fellow coaches and his former players.

Jim Donnan, a head coach of Marshall University and the University of Georgia during the 1990s, is accused of working with an Ohio businessman to cheat investors out of $80 million.

The Securities and Exchange Commission filed a civil lawsuit in Federal District Court in Atlanta on Thursday seeking to recover the money and impose a penalty on Mr. Donnan, who lives in Athens, Ga., and his partner, Gregory L. Crabtree of Proctorville, Ohio.

In court filings, the agency said victims included Barry Switzer, the former Dallas Cowboys coach; Kendrell Bell, the former Pittsburgh Steelers linebacker who played for Mr. Donnan at Georgia; and Billy Gillispie, the former University of Kentucky basketball coach.

For more, visit www.nytimes.com.

GE Healthcare Shows Discovery IGS 730 and Innova IGS 520/530 Interventional Imaging Systems at ACC

26 March 2012

GE Healthcare Shows Discovery IGS 730 and Innova IGS 520/530 Interventional Imaging Systems at ACC

 

Recently FDA-Cleared Systems Provide Versatility, Advanced Imaging for Interventional Cardiology Procedures in the OR

CHICAGO – March 26, 2012 – GE Healthcare unveiled two recently FDA-cleared systems aimed at providing versatility and advanced imaging for interventional cardiology at the American College of Cardiology (ACC)’s 61st Annual Scientific Session & Expo, March 24-27 in Chicago.

Specifically, GE highlighted its recently FDA-cleared Discovery* IGS 730 system, the first interventional X-ray system designed to capture the advantages of both floor- and ceiling-mounted systems. Initially introduced last fall, the Discovery system was designed to address the trade-off departments have historically needed to make between ceiling- and floor-mounted systems, eliminating the need to compromise on patient access and image quality. The Discovery IGS 730 is a revolution in imaging. It is neither floor- nor ceiling-mounted, but enables full patient access without the need to suspend the system above the patient. It has the mobility of a C-arm with the power and image quality of a fixed system. This laser-guided, motorized mobile gantry creates an interventional environment without boundaries. It allows complete access to the patient and unlimited parking capability, while creating sterility for a flexible and secure OR environment. The unique gantry comes with a new wide bore design, which allows for steep angles, ease in 3D acquisition, especially for large patients.

GE will also introduce the FDA-approved Innova* IGS 520/530 with the OR option to expand the use of its Innova imaging system in the hybrid OR setting. Thanks to a specifically designed table and accessories, the Innova IGS 520/530 OR enables both transcatheter and open surgical procedures in the one room.

GE is also highlighting its Innova HeartVision solution to help support device localization and guidance during structural heart procedures, especially TAVR procedures. The HeartVision function fuses in real time 2D X-ray images and 3D models, such as the 3D cardiac model, from multiple modalities. It can be synchronized with ECG gating and can help compensate for patient heart and respiratory motion throughout the procedure for quality treatment. Innova HeartVision can reduce procedure time and dose, and increase physician confidence by providing the visual tools to make challenging interventions more accessible.

“Interventional cardiology procedures are becoming increasingly complex, and now may be performed in a variety of settings in the hospital, including the operating room. GE Healthcare is revolutionizing cardiac imaging with solutions that adapt to a wider array of environments,” said Reaz Rasul, General Manager, Interventional Cardiology, GE Healthcare - Detection & Guidance Solutions. “With the development of Discovery IGS 730 and Innova IGS 520/530 OR, we are arming physicians with solutions that combine cutting-edge imaging with greater versatility to meet more clinical needs.”

About GE Healthcare
GE Healthcare provides transformational medical technologies and services that are shaping a new age of patient care. Our broad expertise in medical imaging and information technologies, medical diagnostics, patient monitoring systems, drug discovery, biopharmaceutical manufacturing technologies, performance improvement and performance solutions services help our customers to deliver better care to more people around the world at a lower cost. In addition, we partner with healthcare leaders, striving to leverage the global policy change necessary to implement a successful shift to sustainable healthcare systems.

Our “healthymagination” vision for the future invites the world to join us on our journey as we continuously develop innovations focused on reducing costs, increasing access and improving quality around the world. Headquartered in the United Kingdom, GE Healthcare is a unit of General Electric Company (NYSE: GE). Worldwide, GE Healthcare employees are committed to serving healthcare professionals and their patients in more than 100 countries.  For more information about GE Healthcare, visit our website at www.gehealthcare.com.

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