Entries Tagged as 'Finance'

ROWE

No, not Rowe vs Wade (but I’m sure I’ll have a rant on that if the current court hears a case that could reverse that land mark decision)… but Result Only Work Environment; essentially a version of “Flex Time” that is focused on increasing productivity by avoiding “presenteeism” (where someone is physically in the office, but mentally somewhere else).

You can read about an article on NPR about the Human Services and Public Health Department of Hennepin County (Minneapolis, MN).

The End Of 9-To-5: When Work Time Is Anytime

Originally posted 2010-03-29 02:00:45.

Connect for the Cause

I’m a huge fan of credit unions; be they state or federal chartered; and I hate banks (all banks).  There’s a huge difference between what motivates a credit union and what motivates a bank, and dealing with even a bad credit union is generally much more satisfying than dealing with the best bank!

Personally I use credit unions when I can; and soak banks for their “give mes” on credit cards… I never pay a bank a penny further if they don’t pay me — I don’t make money for them, and my credit unions never charge me a penny (seems like a good arrangement to me) .

The quote below is from a web site that’s designed to keep you informed about legislation that might effect the services credit unions can provide to you; below it are two links to (California) organizations that support credit unions — while all of whats on those sites might not be important to you, certainly any of the federal changes proposed will likely effect you.

Support your credit unions in every way you can — and fight back against the greedy banks that feel you as a tax-payer (and a customer) should pay for their mistakes while they continue to pay the executive staff (who made the mistakes) huge bonuses.

Take back America… take it back from the greed that destroys the very foundation of our society!

 


As a credit union supporter, you are aware of the need for grassroots action and mobilization efforts to inform our elected officials about credit union issues. Thank you for your active support, and please visit this network frequently to stay informed about legislative issues that are important to your credit union.

Connect for the Cause

California Credit Union League

Originally posted 2009-11-28 01:00:29.

PayPal

The world’s most-loved way to pay and get paid.

What a crock… everyone I know loathes PayPal… the only reason anyone uses it is critical mass; pretty much the same reason people use eBay — that’s like saying people love the phone and cable company just because they use their services.

It’s laughable that a brand that’s synonymous with poor service and screwing people over every time they have a chance would have a slogan like that…

Of course, I broke into hysterical laughter the first time a Pacific Bell customer (dis)service person answered the phone with:

How may I provide you with excellent service today.

My reply was transfer me to a company that actually cares about it’s customers if you can find one.

Remember, it’s the worst companies that find it necessary to try and convince you that they’re loved…

Originally posted 2011-01-20 02:00:53.

This is a mistake that we will pay for for years to come!

Yes, today is Pearl Harbor day, but the title isn’t what Japan’s Admiral Yamamoto said after the attack (that was in fact, “I fear we have awakened a sleeping tiger and filled it with a great resolve”) — it’s actually what Richard Gephardt (of Missouri), then Democratic House Leader, said about the $1.6 trillion in tax cuts that then President George W Bush singed into effect after stepping into the presidency in January 2001.

Georgie and his buddies the conservatives taunted that the huge surplus amassed under the eight years of prosperity of President Bill Clinton was the result of the American government overcharging the average person in taxes.  So they concocted a tax cut (40% of which was targeted at the wealthiest 1% of Americans) which would reverse the projected $5.6 trillion surplus over the next ten years.

Well, ten years later this country is in the worst economic condition since the great depression — unemployment (even by government figures) is in double digits, and there’s really no sign of substantial improvement on the horizon and there’s a debate about renewing those tax cuts…

For the average American the tax cuts makes no difference; even for fairly wealthy Americans they don’t make much difference — it’s really only for the wealthiest of the wealthy that they tax cuts make a substantial difference; or put plainly, it benefits those who are doing fine — and in the long run may harm those who are barely hanging on.

We don’t have a budget surplus any longer (in fact, I’d argue we never had a budget surplus — we had a debt that we could have, and should have, paid down).

President Obama has proposed a tax plan that will give most Americans the same tax savings that the old Bush plan did, but it will remove the tax cuts that the richest Americans got… but I’m not sure we shouldn’t be finding a more equitable way to tax rather than continuing to convolute the tax laws so that those with wealth and power can twist the law to serve their needs.

Originally posted 2010-09-07 02:00:43.

$100 Bill

There’s a new fancy high-tech $100 bill that will be hitting the streets.

Made for the US Treasury Department by Crane & Co, Dalton, MA, US (who also makes paper currency for a number of other world governments), the new bill features a number of new security innovations; amount them are a 3-D ribbon, an image of an inkwell that changes to a Liberty Bell, as well as other features introduced on earlier denominations.

Originally posted 2010-10-27 02:00:07.

Banks spend big to sell credit cards to students

By Amy Haimerl, personal finance editor CNN
October 26, 2010: 4:27 PM ET

NEW YORK (CNNMoney) — The U.S. Marines recruit college students to become one of the few, one of the proud.

Bank of America just wants their financial future.

The Charlotte, N.C.-based bank spends exponentially more money than any other bank to recruit students for credit cards.

In 2009, Bank of America unit FIA Card Services paid colleges and alumni associations $62 million for the rights to market cards to students and members, according to a report from the Federal Reserve.

The second biggest spender, Chase, dropped $13.8 million to recruit new borrowers, while U.S. Bank forked over $2.5 million.

When the Credit Card Accountability and Responsibility and Disclosure Act — better known as the CARD Act — went into effect in February, it required credit card companies to disclose how much they pay colleges for the right to set up on campuses — plus how many new borrowers it racked up. On Monday, the Federal Reserve made its first report.
College degrees that don’t pay

In total, the report showed that credit card companies spent $82.4 million to net 53,164 new student accounts.

The University of Notre Dame got the biggest payment of any school: Chase paid the school $1.8 million and in the end got 77 new borrowers. The school used the funds exclusively for financial aid, according to university spokesman Dennis Brown.

Meanwhile, Bank of America spent $1.5 million on the University of Southern California campus to sell 659 new accounts.

“If you look at how much is being paid per account, the numbers vary wildly,” says Josh Frank, senior researcher at the Center for Responsible Lending.

In pre-CARD Act year, Frank estimates that 200,000 to 600,000 new accounts were opened on college campuses and through alumni and other organizations.

“But even in a normal year,” he said, “this seems like a lot of money to pay per account. But it’s possible that they just value those accounts more highly and that they’re more profitable for them.”

One major change from the CARD Act is that students under 21 can no longer obtain a credit card without a co-signer — something that could severely limit new accounts. Credit card companies also can’t entice new borrowers through T-shirts and other giveaways — unless they are 1,000 feet (about three football fields) away from the campus.

“Anecdotally, it does seem to be a different environment on college campuses,” Frank said. “Banks are still on campus, but their presence is lower.

Chase paid the University of Notre Dame $1.8 million for the right to market credit cards on the Indiana campus.

Original article on CNN.com

Originally posted 2010-11-08 02:00:40.

Stuck in the toilet…

If the economy stays stuck in the toilet, I have a shot at beating Obama...
by Mike Luckovich

Originally posted 2011-07-06 02:00:52.

Mr President, now is the time to be a president.

There is a good article on CNN.com by Donna Brazile on what President Obama could (and should) do to get the economy back on track.

I think she’s got the right idea, but I think she really stops short of just outright saying that the problem isn’t necessarily Obama’s failed programs, it’s his failed leadership.

Now is not the time to sit on the fence Mr President; you’ve tried to build a consensus with congress (you failed to do that when your party had control of both houses, and you’ve continued to fail to do that now that your party doesn’t)… it’s time for you to lead — or to step aside and let someone else do so.

The problems this country has are solvable; but every day we wait to start moving down a path that is likely to put us on the road to get American’s working and to pay down the enormous debt that Republicans and Democrats alike have saddle the current (and future) generation(s) with we simply make the problem harder — and at some point there will not be a solution, the US will simply drift into the fray of third world countries never likely to regain it’s position as a real world leader again.

So, Mr President — be the president; make the hard choices; and move this country forward… it’s not the time to be a politician or a two term hopeful, it’s time to be a president.

 


4 ways Obama can take control to get America back on track by Donna Brazile on CNN.com

Originally posted 2011-08-17 02:00:42.

Bait and switch rates?

Yesterday (Monday 6-Jul-2010) at 4:15pm I stopped by Gulf Winds Federal Credit Union to open up an IRA Certificate of Deposit; I’d been in the process of transferring money from one institution to another (and it took much longer than it should have — but since two institutions were involved, it’s hard to know which was responsible for the delay).

Anyway, I ended up having to wait 45 minutes to be helped; that gave me plenty of time to look over the posted rate board — and I’d decided that the 2.09% for a 24-month IRA-CD looked reasonable (I’d have preferred 18 months or less, but I wanted a reasonable return rate, and I don’t really expect the economy to start to rebound for several years).

The customer service representative that helped me (the “Financial Services Representative”) ask me which CD I was interested in and I told him — the 24-month 2.09% APR; he immediately said, that the 24-month IRA-CD was 1.97%, not 2.09% — that it had changed on Friday 2-Jul-2010 and they simply hadn’t gotten around to posting it on their rate board.

WTF?

I’ve long been under the impression that financial institutions understand the importance of posting accurate rate information — and I thought most any ethical institution understands the legal (even if they don’t understand the moral) implications of posting fraudulent information.

When I got home I filed complaints with the State of Florida Attorney General’s office (in Tallahassee, FL) and the National Credit Union Administration, Region III office (in Atlanta, GA) requesting that they investigate the business practices of Gulf Winds Federal Credit Union.



Post Note: The VP of Operations contacted me this morning (7-Jul-2010) and Gulf Winds Federal Credit Union will honor the rate as posted yesterday (for me at least).

Originally posted 2010-07-07 02:00:32.

Chase Freedom Rewards Bonus

From July 1, 2008 until September 30, 2008 Chase is offering 5% cash back on eligible travel and entertainment purchases.

So beyond the 3% cash back on certain categories they always offer; and 1% on all other purchases you can now get 5% cash back for a limited time on airline, hotels, rental cars, and fine dining when you spend more than $300 per month (that should be easy to do with any of those in the mix, particularly if it’s business expenses).

You do need to opt into this program, and if you haven’t gotten a letter from Chase inviting you, I’d say just go ahead and call 800-603-2265.

If you don’t have a Chase Freedom MasterCard or VISA, then maybe you should consider taking advantage of their services and rewards.

NOTES:

  • If you want cash back, you maximize your reward by waiting until you have $200 because you get a check for $250! Other than that some of their travel and give cards are pretty good deals if they would save you money that you would have spent otherwise.
  • Discover is apparently running a promotion as well. I’m not a Discover card holder so I don’t know the specifics of it.
  • My picks for cards are: Citi Rewards Dividend (Citibank); Chase Freedom Rewards (Chase); and Citi Cash Returns (Citibank). There are also a few other cards that give good rewards provided you do a great deal of business with particular vendors.
  • I would stay away from Wells Fargo, Bank of America, Capital One — their cards generally don’t pay bonuses or use some lame bonus programs.  And while you might want a credit card from your credit union, it’s unlikely they will have a decent reward program.
  • Beyond rewards, many credit cards also provide rental car insurance, warranty extensions, lost/damage protection on items you buy, etc.  It’s always advisable to read the benefits that come with your credit card; many financial institutions off great benefits just because very few people ever bother to read the literature that comes with their cards and take advantage of the programs, so it really just makes them look good in all the comparisons and doesn’t end up costing them much at all.

As always, remember you can use credit cards to your advantage as long as you use them wisely.

Originally posted 2008-07-18 21:14:23.