Happy New Year from MoneyAisle

MoneyAisle would like to wish everyone a safe and happy New Year.

We've got some amazing things coming up in 2010. I can't wait to tell you about them.

Thanks for reading.

GMAC may receive 3rd round of bailout funds

GMAC is close to receiving a third round of bailout funds from the Treasury Department, according to a published report today.

The announcement for GMAC to collect an additional $3.5 billion in aid on top of the $13.5 billion already received is expected shortly, the Wall Street Journal reported.

"As we have previously stated, GMAC has been conducting a strategic review of its business and evaluating options to address the challenges at ResCap and the mortgage operations," said GMAC spokeswoman Gina Proia in a statement. "Critical objectives in the process would be to take actions that position GMAC for improved financial performance and to repay the U.S. government."

FDIC in the News

According to the New Jersey Star-Ledger, the FDIC "needs more money in case any large institutions fail next year. So it is requiring banks to prepay three years of insurance premiums by the end of this month."

This is having an effect on smaller community banks, who "could restrict how much banks can offer on certificates of deposit and limit the dividends and share price appreciation of publicly traded institutions, according to community bankers in New Jersey."

This while, according to Reuters, backing a deal for City National Corp to buy the banking operations of failed lender Imperial Capital Bank.

Late on Friday, City National said it bought about $3.4 billion in assets and about $2.2 billion of deposits from Imperial Capital, through a loss-sharing agreement with the FDIC.

City National would not need to raise capital in relation to the Imperial Capital deal, a company executive said on a conference call with analysts.

Holiday Savings: More Tips and Tricks

Yes, 'tis the season... to spend more money than is reasonably necessary. Luckily, MoneyAisle is here to pass along some of the tips and tricks we've found to make your yuletide rocking without having to declare bankruptcy afterward.

The New York Daily News has 10 awesome tips to help you save big on travel this holiday season:

4. Buy before you fly. There are no rules against bringing snacks through security, as long as they are solid (no liquids). Many airlines charge for inflight snacks, so to avoid the added costs hit the store before you head to the airport. Good travel snacks include granola bars, dried fruit, vegetables (carrots and celery sticks travel well and don’t need refrigeration) and candy. You can buy bottled water once you clear security or bring an empty water bottle to fill up before you get on the flight.

Meanwhile, if you're still shopping... Forbes lets you know Where the Deals Are:

Then there's the old standby used to lure consumers during the holidays: free shipping. Many big chains are offering it for online orders that meet a certain minimum, generally $50 or $100. But move fast--most special shipping orders end by Dec. 18, according to a recent survey by Shop.org, the digital arm of the National Retail Federation.

What are YOU doing to save this holiday season?

Cash the Hot Holiday Gift?

We're noticing a new trend regarding holiday gift-giving this year.

More folks are asking for cash, CDs and savings accounts instead of your standard gifts. Honestly, given the choice between another stale fruitcake and stocked high-yield savings account, I know what I'd choose at a Yankee swap.

Retail analyst Marshall Cohen says the wish for cash is due to the troubled economy. People are putting bills above anything on their holiday wish lists.

One credit union in Massachusetts opened at 5 a.m. on Black Friday. They offered a 3-month CD with 10% interest!

According to a survey by Western Union, over 44 percent of consumers say that they plan to give money as a gift this year.

If you still think giving cash is gauche, here's another idea:

Boomers Unprepared for Retirement

How optimistic are you about the retirement prospects of the Baby Boom generation?

Check out the video below. Retirement expert Alicia Munnell says most baby boomers are not adequately prepared for retirement. How is your retirement preparation?