Local credit company says confidence is up...

Local credit company says confidence is up

Costa Mesa credit bureau Experian and The Gallup Organization

released survey results Thursday that suggested an increase in

consumer confidence, though many survey respondents indicated they

did not have a nest egg saved for emergencies.

The survey includes a Personal Credit Index that is based on

factors including household debt, monthly payment burdens and credit

scores. For June the index stood at 94, still down from the initial

score of 100 set in March but up eight points on last month’s

results. In a release, Experian Interactive group president Ed Ojdana

interpreted the uptick as a sign that respondents feel better about

their ability to pay their bills.

The survey reported 41% of respondents do not have any money saved

in case of an emergency. Of those surveyed who did have money saved

for troubles, 18% responded their money would not pay for more than

three months of expenses.

Almost half of survey respondents stated they have experienced

“very” or “serious” hardships because of increased gas and oil costs.

Valeant appoints

UC professor to board

Valeant Pharmaceuticals International, based in Costa Mesa, has

appointed Michael Karin to the company’s scientific advisory board.

Karin’s appointment was announced Wednesday.

Karin is a pharmacology professor at UC San Diego. He was elected

to the National Academy of Sciences in May. Valeant’s scientific

advisory board provides opinions on the company’s research and

development efforts.