Freight Bill Factoring

Don’t wait 30 to 60 days to get paid. Get cash in 24 hours! We pay cash for your slow paying freight bills.

Having to wait 30 to 60 days to get paid for your freight bills can be very difficult. If you are working with reputable clients and freight brokers, we can help you get paid quickly, usually in 24 hours. We work with trucking companies and freight brokers in the USA and in Canada.

What can freight bill factoring do for you?

Our freight bill factoring financing program allows you to turn your slow paying freight bills into immediate cash - eliminating the wait. We provide you with the money to make critical payments to drivers and suppliers, while we wait to get paid by your customer. Freight factoring is very easy to qualify for, quick to set up and inexpensive to use.

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Factoring financing - Program details

Factoring Program

Factoring financing - Program details

Facing a problem because your clients pay in 30 to 60 days? Need to get paid sooner? Most new and growing businesses can’t afford to wait up 60 days to get paid. There are supplier and payroll commitments that must be met. But often, securing the funds to meet these obligations is difficult.

Factoring can provide you with the funds to pay employees and suppliers. It provides predictable cash flow, helping you manage and grow your company. It can benefit you if:

• Your are growing quickly
• You have been close to missing payroll
• You have delayed paying critical suppliers
• Your clients take up to 60 days to pay their invoices

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New images for Tesla's more powerful Roadster Sport

Posted Mon Jan 19 2009 6:55 PM by Ralph Hanson

The Tesla Roadster Sport develops 15% more power than the 248hp (185kW) Roadster

Tesla has delivered 150 all-electric Roadsters to its first lucky customers and still has another 1,100 or so eagerly awaiting their chance to hop behind the wheel of the $100,000 sports car, but despite the backlog the company has decided to add a new model to its lineup. The new car is called the Roadster Sport and it is essentially a more powerful version of the existing Roadster.

The Roadster Sport has 15% more peak power than the 248hp (185kW) Roadster and will go from 0-60mph in just 3.7 seconds (the standard model takes 3.9 seconds). The vehicle also comes with a hand-wound stator and increased winding density for lower resistance and higher peak torque (the stator is the stationary part of an electric generator or electric motor). The motor still spins to a redline of 14,000rpm, with drive being sent to the rear wheels via the upgraded gearbox found in the 'powertrain 1.5' package.

In addition to high-performance Yokohama tires, the Roadster Sport also has improved suspension with adjustable dampers and anti-roll bars that will be tuned to the driver's preference.

Tesla plans to start taking orders for the new model from today, and has priced it at $128,500 in the United States and €112,000 (excluding VAT) in Europe. First deliveries are scheduled to start in late June, and anyone who has already ordered the standard Roadster can upgrade to the new Roadster Sport.

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Audi releases new video and images for V10 FSI R8

Posted Sat Jan 31 2009 11:10 PM by Alex Kaufmann

The R8’s new V10 engine is the same 5.2L mill found in the S6 and S8 saloons

Audi's R8 was an instant success when it broke onto the scene in 2007, and now the Germans are sweetening the deal with a V10 FSI engine, further strengthening the similarity to the Lamborghini Gallardo, with which it also shares a platform. Though the new engine is still an Audi, strictly speaking - it's also found in the S6 and S8 sedans in similar form - it's based around a Lamborghini design. But whatever the provenance of the engine or platform, it's clear that Audi's R8 has found its own niche in the high-performance sports car world, and with the addition of the V10 engine is flirting with supercar status.

With 5.2L of displacement, an 8,700rpm redline, 525hp (386kW) and 391lb-ft (530Nm) of torque, a 0-62mph (100km/h) time of just 3.9 seconds and a top speed of 196mph (316km/h) it certainly reads like a supercar. It's apt to drive like one as well, since the R8's platform has proven to be a success in terms of both road and track dynamics. The car can reach 124mph (200km/h) in another 8.1 seconds.

Fuel efficiency tips in at a rather respectable, though by no means exemplary, 17mpg (13.7L/100km), though enthusiastic use of the loud pedal - a near-inevitability with a V10 strapped to one's back - will certainly reduce that figure in practice, however.

Not that fuel economy is a primary concern of the R8 V10 buyer. The R8 V8 model, rated at a more parsimonious 20mpg highway, is the better choice for daily driving, though not by much. Audi insists the V10's utility is still high, however, highlighting the car's 3.53cu ft (100L) of carbo space under the front hood, and 3.18cu ft (90L) behind the seats.

Pricing for the car will start at €142,400 ($182,800) in Europe, and will be available with a choice of either six-speed manual or Audi's R tronic sequential gearbox. Weighing in at 3,571lb (1,620kg) the V10 R8 isn't exactly a lightweight, but it's only 68lb (31kg) heavier than the 420hp (313kW) V8 version. The weight is distributed in a classic mid-engine 44/56 front/rear ratio, however, ensuring balanced behavior under braking and slightly tail-biased handling under acceleration. Lateral acceleration on the factory-equipped 235/35 front and 295/30 rear street tires is a bracing 1.2g. Moving to a less staggered rubber setup should improve that figure even further.

The stock wheels feature a 10-spoke Y-design, ensconcing standard 15in front/14in rear disc brakes or optional carbon ceramic brakes that weigh a combined 19.8lb (9kg) less than their steel counterparts - a serious reduction in unsprung, rotating mass.

Special 'sideblades' on the V10 R8 are more aggressively styled than on the V8 model, the side-sills are wider and the exhaust grilles at the rear get a matte aluminum treatment. Another V10-unique detail is the inclusion of Audi's all-LED headlights as standard equipment. Integrating 54 LEDs, the lights generate a color temperature of 6,000 Kelvin - very close to natural daylight. They are available as an option on the standard V8 R8.

Unique interior touches add a more racing-inspired feel than the standard R8's cockpit - or 'monoposto' as Audi styles it. A wide variety of leathers are available, and the interior surfaces can be had in carbon fiber, piano black or a number of other finishes.

A number of upgraded R8 variants have been expected for some time, including a spyder version, also expected to debut in 2009. A diesel V12 model is still thought to be under consideration, though little movement on the matter has been heard since a pair of concepts were released earlier this year.

Gallery: Audi R8 V10 5.2L FSI

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Toyota reveals pricing for 2010 Camry and Camry Hybrid

Toyota revealed its facelifted Camry sedan last month at the 2009 Detroit Auto Show, which for the 2010 model year has been given a new look both inside and out and has received an upgraded 2.5L four-cylinder as the base engine. Today pricing was revealed, with a six-speed base car starting out at just $19,395 and ranging up to $29,045 for the XLE with automatic transmission.

The Hybrid starts at $26,150, with most of the rest of the Camry range hovering between $20,000 and $25,000. Full pricing details are listed below.

The new engine is equipped with variable valve timing with intelligence (VVT-i) and produces 169hp for Camry, LE and XLE grades. For sportier SE, the engine gets additional tuning and delivers 179hp – 21hp more than the previous four-cylinder engine. Customers can select either a six-speed manual transmission or a six-speed automatic with sequential shift. The 3.5L V6 delivering 268hp is also available.

Exterior changes to the petrol Camry include a newly designed grille and front bumper, an enlarged lower intake, larger projector headlamps and restyled tail lamps. The Camry and LE grades feature restyled standard wheel covers, while the XLE grade will run on new 16in 10-spoke alloy wheels, while the SE grade adds new 17in sporty alloy wheels.

The Camry Hybrid exterior enhancements includes a unique hybrid grille, a distinct front bumper, a wider lower intake, restyled fog lights and 16in alloy wheels.

Inside, Camry and LE grades are available with an optional audio system equipped with a new USB port for auxiliary music sources, Bluetooth, integrated satellite radio, single-CD, and MP3 and streaming music capability. Previously an option, all Camry petrol models will now be equipped with Vehicle Stability Control with traction control.

The facelifted Camry and Camry Hybrid are scheduled to go on sale in March.

Grade	Trans	MSRP
Base	6M	$19,395
Base	6ECTi	$20,445
LE	6M	$20,850
LE	6ECTi	$21,900
SE	6M	$22,165
SE	6ECTi	$23,165
XLE	6ECTi	$25,925
LEV6	6ECTi	$24,565
SEV6	6ECTi	$25,840
XLEV6	6ECTi	$29,045
Hybrid	ECVT	$26,150

Gallery: 2010 Toyota Camry facelift

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Story Tags:

• 2009 Detroit Auto Show
• 2010 Toyota Camry
• 2010 To

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Online Banks: The Solution for Savers

Today's guest post comes from Jim at Blueprint for Financial Prosperity, a personal finance blog that follows the money decisions of a young professional in th ese challenging financial times.

With the economy in a slump and the Federal Reserve lowering interest rates, it's becoming harder and harder to save. If you're like me, you have a checking and savings account at a traditional bank that is earning an interest rate so low it might as well be zero. In our current economic climate, that's probably not going to change anytime soon. Chances are you've looked toward certificates of deposit as one option for your money, trading in some of your short-term liquidity for a more appealing interest rate, but balked because you are concerned you might need that money before the CD matures.

I may have a solution for you. Have you considered a high-yield savings account at an online bank?

An online bank is a bank that exists entirely online. ING Direct was one of the first online banks, but since then, there have been many others, including FNBO Direct, Everbank, HSBC Direct, and Dollar Savings Direct, just to name a few. With many of those banks, your only interface was through the Web or the telephone. Rather than pay for tellers, branch managers, and branches, online banks pass the savings onto customers by offering some of the highest savings account rates in the nation. The interest rates on high-yield savings accounts are often in the top 5 to 10 percent in the nation, are entirely liquid, and are protected by FDIC insurance.

A high interest rate on your savings account isn't the only benefit of working with an online bank. Because the website is your primary interface with the bank, it is often very sophisticated and very user friendly. They allow you to bank 24 hours a day, seven days a week, a convenience I've personally taken advantage of. Just recently, I locked in great rates on certificates of deposit from the comfort of my office. If I had to go to a branch, it's likely that I would have never done so.

Speaking of CDs, online banks often offer some of the best CD rates because their savings accounts are so high. The bank has to offer a rate that's often a percentage point higher on CDs, just to entice their customers. Some banks also make it easier to ladder CDs or buy a series of CDs of differing maturity dates so that they are effectively liquid. ING Direct has a single form you can fill out to open up an entire CD ladder.

Online banks probably sound very appealing right now, but I have to throw in a few warnings about them. The biggest concern is always that your primary interface is the Web and websites can go down because of high demand or computer failure. While not common, it's not unheard of for a bank website to go down. When that happens, it can be very disconcerting because there are no physical branches to visit. If I can't access my Bank of America account via the Web, I can always drive to a branch to access my money. I can't drive to an ING Direct branch or an HSBC Direct branch. One way to mitigate this risk is to working with a traditional bank that offers a high-yield savings account, like Citibank.

Another risk you face with using an online bank is that you're more susceptible of fraud. One common type of fraud is called phishing. It's when a thief sends you an E-mail, pretending to be your bank, asking you to log in to your account. You click on a link in the E-mail, and it takes you to the thief's site masquerading as your bank and you log in. At that point, they have all of your data. Online banks have plenty of security measures in place, but phishing won't be possible in real life (it can still happen on the phone!). You won't walk into a thief's bank and think it's your own (The Sting, anyone?).

The benefits of using a high-yield savings account at an online bank vastly outweigh the negatives I've mentioned. If you haven't taken a look at them, check them out. You may be pleasantly surprised.

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Here Comes a Bankruptcy Boom

November 11, 2008 10:26 AM ET | Rick Newman | Permanent Link | Print

If you've been saving your cash for fire sales at bankrupt retailers, don't blow it all at Circuit City. Many other companies are likely to end up in even worse shape over the next year.

So far in 2008, there have been a few name-brand bankruptcies—like the recent Circuit City filing, Linens-n-Things, Frontier Airlines, and Mrs. Fields Cookies—plus the colossal liquidation of Lehman Brothers. But believe it or not, it has been a fairly calm year for bankruptcy judges, by one important measure: the corporate default rate. The share of corporate bonds in default over the past 12 months, which goes hand in hand with bankruptcies, has been about 3 percent, according to data compiled by Prof. Edward Altman of New York University's Stern School of Business. That's near the historical average. So, the vast majority of corporations have been paying their debts during the early part of this recession.

But like many good things of the past few years, that's about to end. The latest data from Altman suggest that by this time next year, the corporate default rate will be somewhere between 8.5 percent and 11.1 percent. That means there could be three to four times the number of corporate bankruptcies we've seen over the past year. And each one of those will probably involve layoffs.

As a result, Altman predicts, the unemployment rate could peak as high as 9.5 percent, which would represent a net loss of jobs for 3 million people beyond those who are already unemployed today. "It could hit autos, builders, retail, a lot of areas with a lot of employees," Altman says. "It's going to be rough."

Altman's unemployment prediction is on the gloomy side—Goldman Sachs, for instance, forecasts a peak unemployment rate of 8.5 percent next year. But there certainly seems to be plenty of bad news around the corner. General Motors is one teetering giant. The big automaker says it could run out of cash within a few months, which could prompt one of the biggest bankruptcy filings in U.S. history. That would affect dozens of suppliers, hundreds of car dealerships, and the banks that finance GM's cars. Chrysler could follow suit, and Ford isn't in much better shape. Overall, estimates for job losses in the auto industry range from 30,000 to as many as 100,000.

And that's just one industry. As unemployment worsens and the recession deepens, consumers could rein in spending even more than they already have, leaving an impact on everything that has to do with consumer sales. And Altman says he has already seen a dramatic increase in bankruptcies among small and midsize companies.

Declaring bankruptcy, however, isn't always as dire as some people believe. Most companies that file for Chapter 11 protection don't go out of business. Instead, they shed debt, reorganize, and emerge as healthier companies. That's what United Airlines and Delta Airlines have done and Circuit City is planning to do.

A successful reorganization, however, requires a special kind of financing to help the ailing company get back on its feet, called debtor-in-possession financing, or DIP. This is usually a lucrative business for banks and financing companies, since the DIP lender gets paid back before most other creditors. Except that right now, banks don't want to lend to anybody. "The problem is the DIP market is all but closed," Altman says. If lenders don't loosen up, add one more item to the government's to-do list.

Tags: General Motors | bankruptcy | recession | unemployment | banking | Circuit City

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« Why AIG Is Devouring the Bailout Fund

Relief Starts to Trickle to Troubled Homeowners »

Reader Comments

Read all 35 comments about this article

bail outs

the hard workin people,the baack bone and the ones who have gave all there bodys have always come lastwhen it comes to our gov.lets get real we have let our country be over taken by the rich and they dont want any 1 to have money but them or even to keep a roof over our heads,there for its understandabale that bail outs are not for the people that have and still bust there backs every day for the rich after all whos gonna do the dirty hard jobs for them.

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Job Universe: Bank Tellers

• The job: The teller is the worker most people associate with their bank. Among the responsibilities of tellers are cashing checks, accepting deposits and loan payments, and processing withdrawals. Tellers make up approximately one fourth of bank employees and conduct most of a bank's routine transactions. Tellers in many banks are being cross-trained to perform some of the functions of customer service representatives.

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• Outlook: Banks are opening new branch offices in a variety of locations, such as grocery stores and shopping malls. Banks are also keeping their branches open longer during the day and on weekends. Both of these trends are expected to increase job opportunities for tellers, particularly those who work part time. Most openings will arise from the need to replace the many tellers who transfer to other occupations.

• Experience: Most tellers are required to have at least a high school diploma, but some have completed some college training or even a bachelor's degree in business, accounting, or liberal arts. Once hired, tellers usually receive on-the-job training. Tellers should enjoy contact with the public. They must have a strong aptitude for numbers and feel comfortable handling large amounts of money. They should be discreet and trustworthy because they frequently come in contact with confidential material.

• The not-so-good: Tellers work in an office environment. They may experience eye and muscle strain, backaches, headaches, and repetitive motion injuries as a result of using computers every day. Tellers may have to sit for extended periods while reviewing detailed data.

• Pay: Salaries of tellers vary with experience, region of the country, size of city, and type and size of establishment. Median annual earnings of tellers were $22,140 in May 2006. The middle 50 percent earned between $19,300 and $25,880 a year.

Learn more: http://www.bls.gov/oco/ocos152.htm

This information is from the Occupational Outlook Handbook, published by the Bureau of Labor Statistics

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The Rise of Islamic Banking in a Time of Economic Crisis

By Thomas K. Grose

Posted December 10, 2008

Shopping for a business loan during a global credit crisis is tough work even if you're a fast-growing start-up like Ireland's Blue Ocean Wireless. And the scrutiny can cut both ways. Blue Ocean, which supplies wireless communications for merchant shipping, was giving a closer-than-normal look at whether possible lenders could be counted on amid the ongoing financial shakeout.

People walk past the first Islamic Bank of Britain in London, England.

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When the company got a $25 million loan this fall, it came from what might seem an unusual source: the Bank of London and the Middle East, or BLME, which strictly follows Islamic sharia law rather than conventional western banking practices. Islamic banking requires transactions be structured in alternative ways since the rules ban interest and trading in debt. Blue Ocean is one of many European companies benefiting from a surge in Islamic financing that's pushing sharia-compliant banking into the mainstream and extending its appeal to non-Muslims. The sector's growth comes at a time when the western banking system is caught in a liquidity crisis. Blue Ocean took comfort in the fact that BLME draws on the petrodollar surpluses of Persian Gulf oil producers. "The liquidity was there," says Blue Ocean's chief financial officer, Tariq Aslam.

The boom in Islamic banking is providing a crescent-shaped sliver of good news for the City, London's beleaguered financial district. It's fast becoming the main hub of Islamic banking outside the Middle East, a development encouraged by Britain's Labor government, which laid out the welcome mat to sharia-compliant banks several years ago. "The government sees it as another way to draw business to London, to bring investors to the U.K.," says Duncan McKenzie, director of economics at International Financial Services London.

Growth field. London now is home to 25 companies offering some form of Islamic financing. BLME is the largest of five wholly sharia-compliant banks operating in Britain. The first, the Islamic Bank of Britain, opened in 2004, and the number is expected to double within five years. Moreover, most of Britain's conventional banks also have established "Islamic windows," units that offer sharia-compliant products. Globally, the sector's total assets are pegged at between $500 billion and $1 trillion and growing at a rate of 10 to 15 percent a year.

Certainly, business is brisk at Kuwaiti-owned BLME, which is somewhat ironic, given that it opened its doors in July 2007, on the eve of the banking crisis. It is just completing a big leasing project for a major transportation company, and other deals it has sealed this year include financing for apartment buildings and a language school in London. It also provided an $11 million loan to RecovCo, a British aluminum reprocessor that is expanding its operations in France. For the first six months of this year, BLME reported pretax profits of $2.7 million and its assets more than doubled, to $931 million.

The basic concepts of Islamic banking go back 1,400 years, but the world's first modern Islamic bank didn't open until 1975. And the sector didn't really blossom until five years ago, when it was buoyed by rising oil prices and the strengthening economies of Asia's Muslim countries. Sharia law prohibits investing in certain industries or products, including alcohol, tobacco, pork, and pornography. The Koran also forbids usury, so financial transactions are structured to rely on income in the form of rents or profits from the loan, technically not interest. Sukuks, for instance, are a type of Islamic bond backed by ownership of a tangible asset that produces a financial return. Another popular instrument is the commodity murabaha, essentially cost-plus financing, which involves the sale and repurchase of a commodity to fund a loan.

The financing BLME arranged for Blue Ocean, for example, was a commodity murabaha. Here's how it worked: The amount of the first portion that Blue Ocean wanted from its $25 million loan arrangement was relatively small. So an appropriate, low-cost commodity was selected to accommodate the transaction, in this case special high-grade zinc. The bank purchased the commodity—an amount equal to the cash Blue Ocean wanted to withdraw—then sold it at a small profit to the company for the same price on a deferred payment basis. Blue Ocean, with the bank's assistance, then resold the metal at the original purchase price, thus raising the cash it wanted. All transactions occurred nearly simultaneously so that the deal wasn't whipsawed by market price fluctuations.

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Nine banks failed in the third quarter, the highest quarterly total in 15 years

Posted December 1, 2008

• 9: Number of banks that failed in the third quarter (highest quarterly total in 15 years)
• 171: Number of banks on the FDIC's "Problem List" as of the third quarter (the highest since 1995, when there were 193 on the list)
• 117: Number of banks on the FDIC's "Problem List" as of the second quarter
• $115.6 billion: Assets of the "problem" institutions in the third quarter (the first time since 1994 that assets of "problem" banks have exceeded $100 billion)
• $78.3 billion: Assets of the "problem" institutions in the second quarter
• $1.7 billion: Third-quarter net income
• 94 percent: Decline in net income from the third quarter of 2007 (when net income was $27 billion)

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Source: FDIC

Tags: Wall Street | banking

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Citigroup Receives Latest Government Bailout to Protect Troubled Lending Market

By Amanda Ruggeri

Posted November 24, 2008

Despite comments from Treasury Secretary Hank Paulson one week ago that government interventions had stabilized the banking system, another bailout was announced last night: Banking giant Citigroup will receive $20 billion more in government funds, taken out of the $700 billion rescue package, as well as a guarantee against future losses.

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The money comes on top of the $25 billion invested a few weeks ago. That infusion didn't stem Citigroup's problems, with its shares slumping 60 percent last week to a low not seen since 1992. With 200 million customers, Citigroup is even bigger than Lehman Brothers—the group whose September bankruptcy widened the financial crisis—and analysts have warned that its failure would seize up the entire lending market. If Citigroup were to crumble, one expert said, "it would create chaos."

The government's move, therefore, is specifically aimed to guarantee Citigroup's $306 billion in risky assets. Those loans and securities make up approximately one sixth of its $2 trillion in assets. According to the deal, Citigroup will absorb the first $29 billion in losses on these assets. But after that, the treasury and the Federal Deposit Insurance Corp. will take on 90 percent of the remaining losses with money from the $700 billion bailout and FDIC funds.

In return for that investment, the government will receive $7 billion in Citigroup's preferred shares and an additional 254 million shares of common stock. Citigroup also is beholden to certain arrangements, including requiring federal agencies' consent to pay quarterly dividends to shareholders over 1 cent a share. It has to restrict bonuses and other compensation for executives. And the company must help homeowners, including by altering mortgages to help avoid foreclosures.

The immediate result of the announcement? Stocks rallied. The Dow was up 2 percent this morning, with a particular boost to Citigroup, whose stock rose 45 percent. Stock markets surged overseas, and oil prices spiked up almost 3 percent to $51 a barrel. A proposed stimulus package by President-elect Barack Obama seems also to have helped calm investors' fears.

Off Wall Street, though, not everyone was happy at the new use of taxpayers' money. President Bush sought to address some of those complaints, saying in an announcement this morning that the rescue was needed to "safeguard the financial system."

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Factoring (finance)

Factoring is a financial transaction whereby a business sells its accounts receivable (i.e., invoices) at a discount. Factoring differs from a bank loan in three main ways. First, the emphasis is on the value of the receivables (essentially a financial asset)^[1], not the firm’s credit worthiness. Secondly, factoring is not a loan – it is the purchase of a financial asset (the receivable). Finally, a bank loan involves two parties whereas factoring involves three.

Factoring is a word often misused synonymously with invoice discounting - factoring is the sale of receivables whereas invoice discounting is borrowing where the receivable is used as collateral.

The three parties directly involved are: the one who sells the receivable, the debtor, and the factor. The receivable is essentially a financial asset associated with the debtor’s Liability to pay money owed to the seller (usually for work performed or goods sold). The seller then sells one or more of its invoices (the receivables) at a discount to the third party, the specialized financial organization (aka the factor), to obtain cash. The sale of the receivables essentially transfers ownership of the receivables to the factor, indicating the factor obtains all of the rights and risks associated with the receivables.^[2] Accordingly, the factor obtains the right to receive the payments made by the debtor for the invoice amount and must bear the loss if the debtor does not pay the invoice amount. Usually, the debtor is notified of the sale of the receivable, and the factor bills the debtor and makes all collections. However, at times, the seller will collect the payments made by the debtor, and will remit them to the factor. The factor usually charges the seller a service charge, as well as interest based on how long the factor must wait to receive payments from the debtor. ^[3] The seller also estimates the amount that may not be collected due to non-payment, and makes accomidation for this when determining the amount that will be given to the seller. The factor's overall profit is the difference between the price it paid for the invoice and the money received from the debtor, less the amount lost due to non-payment.^[2]

American Accounting considers the receivables sold when the buyer has "no recourse"^[4], or when the financial transaction is substantially a transfer of all of the rights associated with the receivables and the seller's monetary Liability under any "recourse" provision is well established at the time of the sale.^[5] Otherwise, the financial transaction is treated as a loan, with the receivables used as collateral.

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Cord-Blood Banking

On the day you deliver your baby, you'll probably be overcome with visions of your future with your child - first smiles and steps, birthday parties and sports events, and holidays and life milestones. Your little one ever becoming seriously ill will probably be the last thing on your mind.

But some parents do consider the possibility that a serious illness might someday affect their child - and they make a choice on the day their baby is born that might impact the future health of that child or even their other children. They're deciding to bank their newborn's cord blood.

So, what is cord-blood banking, and is it right for you?

Cord-Blood Banking

After a baby is delivered, the mother's body releases the placenta, the temporary organ that transferred oxygen and nutrients to the baby while in the mother's uterus. Until recently, in most cases the umbilical cord and placenta were discarded after birth without a second thought. But during the 1970s, researchers discovered that umbilical cord blood could supply the same kinds of blood-forming (hematopoietic) stem cells as a bone marrow donor. And so, umbilical cord blood began to be collected and stored.

What are blood-forming stem cells? These are primitive (early) cells found primarily in the bone marrow that are capable of developing into the three types of mature blood cells present in our blood - red blood cells, white blood cells, and platelets. Cord-blood stem cells may also have the potential to give rise to other cell types in the body.

Some serious illnesses (such as certain childhood cancers, blood diseases, and immune system disorders) require radiation and chemotherapy treatments to kill diseased cells in the body. Unfortunately, these treatments also kill many "good" cells along with the bad, including healthy stem cells that live in the bone marrow.

Depending on the type of disease and treatment needed, some children need a bone marrow transplant (from a donor whose marrow cells closely match their own). Blood-forming stem cells from the donor are transplanted into the child who is ill, and those cells go on to manufacture new, healthy blood cells and enhance the child's blood-producing and immune system capability.

Collection of the cord blood takes place shortly after birth in both vaginal and cesarean (c-section) deliveries. It's done using a specific kit that parents must order ahead of time from their chosen cord-blood bank.

After a vaginal delivery, the umbilical cord is clamped on both sides and cut. In most cases, an experienced obstetrician or nurse collects the cord blood before the placenta is delivered. One side of the umbilical cord is unclamped, and a small tube is passed into the umbilical vein to collect the blood. After blood has been collected from the cord, needles are placed on the side of the surface of the placenta that was connected to the fetus to collect more blood and cells from the large blood vessels that fed the fetus.

During cesarean births, cord-blood collection is more complicated because the obstetrician's primary focus in the operating room is tending to the surgical concerns of the mother. After the baby has been safely delivered and the mother's uterus has been sutured, the cord blood can be collected. However, less cord blood is usually collected when delivery is by c-section. The amount collected is critical because the more blood collected, the more stem cells collected. If using the stem cells ever becomes necessary, having more to implant increases the chances of engraftment (successful transplantation).

After cord-blood collection has taken place, the blood is placed into bags or syringes and is usually taken by courier to the cord-blood bank. Once there, the sample is given an identifying number. Then the stem cells are separated from the rest of the blood and are stored cryogenically (frozen in liquid nitrogen) in a collection facility, also known as a cord-blood bank. Then, if needed, blood-forming stem cells can be thawed and used in either autologous procedures (when a person receives his or her own umbilical cord blood in a transplant) or allogeneic procedures (when a person receives umbilical cord blood donated from someone else - a sibling, close relative, or anonymous donor).

How long can blood-forming stem cells last when properly stored? Theoretically, stem cells should last forever, but cord-blood research has only been ongoing since the 1970s, so the maximum time for storage and potential usage are still being determined. Blood-forming stem cells that have been stored for more than a decade have been used successfully in transplants.

Pros and Cons

Cord-blood banking isn't routine in hospital or home deliveries - it's a procedure you have to choose and plan for beforehand, so be sure to consider your decision carefully before delivery day.

The primary reason that parents consider banking their newborn's cord blood is because they have a child or close relative with or a family medical history of diseases that can be treated with bone marrow transplants. Some diseases that more commonly involve bone marrow transplants include certain kinds of leukemia or lymphoma, aplastic anemia, severe sickle cell anemia, and severe combined immune deficiency.

The odds that the average baby without risk factors will ever use his or her own banked cord blood is considered low; however, no accurate estimates exist at this time.

The expense of collecting and storing the cord blood can be a deciding factor for many families. At a commercial cord-blood bank, you'll pay approximately $1,000-$2,000 to store a sample of cord blood, in addition to an approximately $100 yearly maintenance fee. You might also pay an additional fee of several hundred dollars for the cord-blood collection kit, courier service to the cord-blood bank, and initial processing.

In most cases, stem cell transplants are performed only on children or young adults. The larger the size of the person, the more blood-forming stem cells are needed for a successful transplant. Umbilical cord blood stem cells aren't adequate in quantity to complete an adult's transplant.

In addition, it's not known whether stem cells taken from a relative offer more success than those taken from an unrelated donor. Stem cells from cord blood from both related and unrelated donors have been successful in many transplants. That's because blood-forming stem cells taken from cord blood are naive (a medical term for early cells that are still highly adaptable and are less likely to be rejected by the recipient's immune system). Therefore, donor cord-blood stem cells do not need to be a perfect match to create a successful bone marrow transplant.

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What is Cord Blood?

After a baby is born and the umbilical cord is cut, some blood remains in the blood vessels of the placenta and the portion of the umbilical cord that remains attached to it. After birth, the baby no longer needs this extra blood. This blood is called placental blood or umbilical cord blood: "cord blood" for short.

Cord blood contains all the normal elements of blood - red blood cells, white blood cells, platelets and plasma. But it is also rich in hematopoietic (blood-forming) stem cells, similar to those found in bone marrow. This is why cord blood can be used for transplantation instead of bone marrow.

Cord blood is being used increasingly on an experimental basis as a source of stem cells, as an alternative to bone marrow. Most cord blood transplants have been done to treat diseases of the blood and immune system. It has also been used to restore the functional deficiencies of several genetic metabolic diseases. To date, more than 70 different diseases have been treated with cord blood transplants.

Scientists are investigating the possibility that stem cells in cord blood may be able to replace cells of other tissues such as nerve or heart cells. Whether cord blood can be used to treat other kinds of diseases will be learned from this research.

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Cord Blood Stem Cells

Cord Blood Stem Cells - FAQs

• What is cord blood?
• What are stem cells and how are they used?
• What types of diseases are treated with stem cell transplantation?
• Are cord blood stem cells different than other stem cells?
• Why are doctors turning to cord blood instead of bone marrow?
• What is proposed in terms of cord blood transplants in the future?
• What is graft vs. host disease (GVHD)?
• What is HLA-matching?

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What is cord blood?

Cord blood, which is also called "placental blood," is the blood that remains in the umbilical cord and placenta following birth and after the cord is cut. Cord blood is routinely discarded with the placenta and umbilical cord. Your baby's umbilical cord blood is a valuable source of stem cells, which are genetically unique to your baby and family.

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What are stem cells and how are they used?

Stem cells are the body's "master" cells because they create all other tissues, organs, and systems in the body. The stem cells found in cord blood are the building blocks of your blood and immune system and most readily replicate into:

Red Blood Cells - which carry oxygen to all the cells in the body,

White Blood Cells - which fight infection, and

Platelets - which aid in clotting in the event of injury.

There are three sources where stem cells are commonly found, they are:

• Bone Marrow,


• Peripheral Blood (the blood that circulates through your body), and


• Umbilical Cord Blood.

The ability of cord blood stem cells to differentiate, or change into other types of cells in the body is a new discovery that holds significant promise for improving the treatment of some of the most common diseases such as heart disease, stroke, and Alzheimer's.

Currently, stem cells are primarily used in transplant medicine to regenerate a patient's blood and immune system after they have been treated with chemotherapy and/or radiation to destroy cancer cells.

At the same time the chemotherapy and radiation destroys the cancer cells in a patient, they also destroy stem cells. Therefore, an infusion of stem cells or a stem cell transplant is performed after the chemotherapy and/or radiation treatment. The stem cells then migrate to the patient's bone marrow where they multiply and regenerate all of the cells to create a new blood and immune system for the patient.

The promise of using stem cells for medical treatments has been the focus of research projects that are showing encouraging results.

• Cord blood stem cells have been "triggered" to differentiate into neural cells, which could lead to treatments for diseases such as Alzheimer's and Parkinson's.


• They have also proven their ability to turn into blood vessel cells, which could some day benefit treatments for heart disease, allowing patients to essentially "grow their own bypass."

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What types of diseases are treated with stem cell transplantation?

The link below reflects all of the types of diseases that have treatments involving stem cell transplantation. Not all diseases amenable to stem cell transplantation have been treated specifically with cord blood stem cells.

Some of the research currently being conducted using stem cells for treatment in cellular repair and regeneration are listed under Potential Future Stem Cell Applications.

Diseases Treated With Stem Cells

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Are cord blood stem cells different than other types of stem cells?

Yes. Umbilical cord blood stem cells are the "youngest," safely available stem cells and they are the product of another miracle - a live birth. Freezing these cells essentially stops the clock and prevents aging and damage that may occur to the cells later in life. Another source of stem cells, embryonic stem cells, has been at the heart of heated debate. Currently, embryonic stem cells are not being used to treat humans. A third category of stem cells is adult stem cells, such as those found in bone marrow. Adult stem cells serve very specialized roles in children and adults and are not as proliferative as those found in cord blood.

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Why are doctors turning to cord blood instead of bone marrow?

Easier to match -- higher survival

Bone marrow is difficult to match between the donor and recipient because a "perfect match" is usually required. Cord blood immune cells, however, are less mature than in bone marrow and can be successfully used even when there is only a half-match. This means there is more opportunity for transplants between family members when cord blood is stored. Some studies have shown that overall survival rates for related transplants are more than double that of transplants from unrelated donors.

Immediate availability

Banking cord blood ensures that these stem cells can be immediately available if they are needed for treatment. Early treatment of many illnesses can minimize disease progression. According to researchers at Duke University, cord blood transplants could provide possible survival that is unlikely with the more time consuming process of unrelated marrow donation.

Less GVHD

Overall, patients who receive cord blood transplants from a relative experience significantly less Graft vs. Host Disease (GVHD), a transplant rejection that is the leading cause of death in stem cell transplant patients. According to one study, the three-year cumulative incidence of chronic GVHD was 6% for matched siblings who received cord blood transplants versus 15% for matched siblings who received bone marrow transplants.

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What is proposed in terms of cord blood transplants in the future?

To date, umbilical cord blood has been used in more than 8,000 transplants for children and adults. In many cases, the cord blood was used by the baby's sibling. Other transplants have occurred for the newborn himself, the newborn's mother, father, and the newborn's cousin.

In the past two years alone, research has demonstrated that cord blood stem cells can differentiate into other types of cells in the body. The regenerative qualities of stem cells have been brought to the forefront in the field of cellular repair. Stem cells have been labeled an important biological resource and researchers are conducting more and more studies to unlock the potential of umbilical cord blood stem cells in future applications for diseases like Alzheimer's, diabetes, heart and liver disease, muscular dystrophy, Parkinson's disease, spinal cord injury, and stroke.

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What is graft vs. host disease (GVHD)?

GVHD is one of the most common and life threatening side effects of a stem cell/bone marrow transplant. GVHD occurs when the transplanted stem cells recognize the recipient's body as foreign, and "reject" it. Cord blood transplants have had a noticeable lack of GVHD because the stem cells from the donor do not need to match the recipient as closely as with bone marrow.

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What is HLA matching?

Matching refers to six proteins called Human Leukocyte Antigens (HLA) that appear on the surface of white blood cells and other tissues in the body. These six HLA points, or loci, determine tissue compatibility between a patient and a donor. Although a perfect match would be best, studies have shown that cord blood transplants are successful, even when only three of the six loci match. With cord blood, the immune cells are less mature than those in bone marrow, and therefore siblings are twice as likely to be able to use each other's cord blood, compared to bone marrow.

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Cord Blood Banking

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Expecting parents are faced with a lot of important decisions before their baby is born. These include the basics, such as what to name the baby, which Pediatrician to go to, breastfeeding vs. formula feeding, etc. And more and more, they are having to consider the issue of whether or not to bank their baby's umbilical cord blood.

From ads in parenting magazines, direct mailings, and flyers in their obstetrician's office, expecting parents are repeatedly told of their 'once-in-a-lifetime chance' to save their baby's umbilical cord blood for possible use later to save his life.

Since it doesn't hurt to take a baby's umbilical cord blood and it would in fact be discarded anyway, you wouldn't think that there would be much of an issue with cord blood banking. What parent wouldn't want to do everything that they could to make sure that their baby grows up to be healthy?

But the issue isn't really with cord blood banking, which every parent should likely try to do. The issue is more about banking blood in a for-profit private cord blood bank for a family's own use. As an alternative, parents can donate their baby's umbilical cord blood in a public bank for free.

Background

Umbilical cord blood stem cells can be used in transplants to treat a variety of pediatric disorders including leukemia, sickle cell disease, and metabolic disorders. Patients who need a cord blood transplant can currently try to find a match with a sibling or from an unrelated person. An autologous (self) transplant can also be done if a child's umbilical cord blood has been stored in a private cord blood bank, although you wouldn't do that for conditions like leukemia because of the genetic risk of the leukemia being in the cord blood too.

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Cord blood

Umbilical cord blood is up to 180mL of blood from a newborn baby that is returned to the neonatal circulation if the umbilical cord is not prematurely clamped. In some obstetric and midwifery practices, physiological extended-delayed cord clamping protocol, as well as water birth, allows for the cord blood to pulse into the neonate for 5-20 minutes after delivery. If the umbilical cord is not clamped, a physiological clamping occurs upon interaction with cold air, when the internal gelatinous substance, called Wharton's jelly, swells around the umbilical artery and veins.

Contents [hide] 1 Cord blood harvesting 2 Controversy 3 See also 4 References 5 External links 5.1 General information 5.2 Free, public donation information 5.3 Diseases treated with cord blood

[edit] Cord blood harvesting

A cord blood bank may be a private commercial enterprise, or public medical resource, used to store umbilical cord blood for future use.

Cord blood banking is controversial in the medical and parenting community. Blood collected this way takes up to 180mL from the neonate (sometimes up to half of the total blood volume) which is a highly controversial subject in perinatal medicine. Cord blood is rich in hematopoietic stem cells, however, The American Academy of Pediatrics 2007 Policy Statement on Cord Blood Banking^[1] states that:

"Physicians should be aware of the unsubstantiated claims of private cord blood banks made to future parents that promise to insure infants or family members against serious illnesses in the future by use of the stem cells contained in cord blood;"

Cord blood is stored by both public and private cord blood banks. Public cord blood banks store cord blood for the benefit of the general public, and most U.S. banks coordinate matching cord blood to patients through the National Marrow Donor Program (NMDP). Private cord blood banks are for-profit organizations which store cord blood for the exclusive use of the donor or donor's relatives.

Public cord blood banking is supported by the medical community. However, private cord blood banking is generally not recommended unless there is a family history of specific genetic diseases.

New parents have the option of storing their newborn's cord blood at a private cord blood bank or donating it to a public cord blood bank. The cost of private cord blood banking is approximately $2000 for collection and approximately $125 per year for storage, as of 2007. Donation to a public cord blood bank is not possible everywhere, but availability is increasing. Several local cord blood banks across the United States are now accepting donations from within their own states. The cord blood bank will not charge the donor for the donation; the OB/GYN may still charge a collection fee, although many OB/GYNs choose to donate their time.

After the first sibling-donor cord blood transplant was performed in 1988, the National Institute of Health (NIH) awarded a grant to Dr. Pablo Rubinstein to develop the world's first cord blood program at the New York Blood Center (NYBC),^[2] in order to establish the inventory of non embryonal stem cell units necessary to provide unrelated, matched grafts for patients.

In 2005, University of Toronto researcher Peter Zandstra developed a method to increase the yield of cord blood stem cells to enable their use in treating adults as well as children.^[3]

[edit] Controversy

While there is general support in the medical community for public banking of cord blood, the question of private banking has raised objections from many governments and nonprofit organizations. The controversy centers on varying assessments of the current and future likelihood of successful uses of the stored blood. In March 2008, a paper was published by Nietfeld et al.^[4] in the journal Biology of Blood and Marrow Transplantation which computed the lifetime probability (up to age 70) that an individual in the US would undergo a stem cell transplant. The likelihood of an autologous transplant using your own stem cells is 1 in 435, the likelihood of an allogeneic transplant from a matched donor (such as a sibling) is 1 in 400, and the net likelihood of any type of stem cell transplant is 1 in 217.

The National Marrow Donor Program estimates that by the year 2015, there will be 10,000 cord blood transplants world-wide per year using publicly banked cord blood. It is therefore vitally important to build public repositories of cord blood donations throughout the world. In the United States, the Health Resources and Services Administration (HRSA) of the US Dept. of Health and Human Services is responsible for funding national programs to register marrow donors and bank cord blood donations.^[5]

The European Union Group on Ethics (EGE) has issued Opinion No.19 ^[6] titled Ethical Aspects of Umbilical Cord Blood Banking. The EGE concluded that "[t]he legitimacy of commercial cord blood banks for autologous use should be questioned as they sell a service, which has presently, no real use regarding therapeutic options. Thus they promise more than they can deliver. The activities of such banks raise serious ethical criticisms."^[6] However, in the final section 1.27 of their Opinion, the EGE admits that: "if in the future regenerative medicine developed in such a way that using autologous stem cells became possible, then the fact to have one's own cord blood being stored at birth could increase the chance of having access to new therapies."^[6]

In May 2006, The World Marrow Donor Association (WMDA) Policy Statement for the Utility of Autologous or Family Cord Blood Unit Storage^[7] stated that:

1. The use of autologous cord blood cells for the treatment of childhood leukemia is contra-indicated because pre-leukemic cells are present at birth. Autologous cord blood carries the same genetic defects as the donor and should not be used to treat genetic diseases.
2. There is at present no known protocol where autologous cord blood stem cells are used in therapy.
3. If autologous stem cell therapies should become reality in the future, these protocols will probably rely on easily accessible stem cells.

As of spring 2008, there are several known instances where autologous use of cord blood is indicated:

1. Whereas the WMDA cautioned against autologous transplant for diseases with a genetic signature, there are pediatric cancers (ex: neuroblastoma) and acquired conditions (ex: aplastic anemia) which can be treated by autologous transplant. There has even been one autologous transplant for leukemia^[8]
2. Type 1 Diabetes, also known as Juvenile Diabetes, has been shown to improve if treated shortly after onset with an infusion of autologous cord blood.^[9] The American Diabetes Association reports that 1 in 7000 children is diagnosed each year with Type 1 diabetes, and 1 in 600 children are living with it.
3. Cerebral Palsy and other forms of pediatric brain injury have responded well to infusions of autologous cord blood in a clinical trial conducted at Duke University.^[10] The Brain Injury Association of America^[11] estimates that the prevalence of Cerebral Palsy is about 1 in 300 among children up to age 10.

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