Uncommon Money News (Vol. 61)

By: Roshawn Watson

In preparing to write my posts, I often come across noteworthy and sometimes bizarre financial and business news. Below are links to some of these sites. Enjoy!

I am especially appreciative to ALL SIX BLOGS CARRYING OUR POST: Good Old Middle Class or Wealthy You Decide. This post has been garnering a lot of traffic (it also it the front page of Reddit and TIPD) , and I thank everyone who helped make it possible. It was featured at Passive Family Income, hosted the Money Hacks Carnival. It was also featured this week on The Surburban Dollar by Kyle who hosted the Festival of Frugality. Additionally, it was featured at the Carnival of Cashflow Consciousness (hosted by Get Money Energy) Carnival of Twenty Something Finances (hosted by How I Save Money), Carnival of Wealth, Money and Life (hosted by Dividends Value) and finally at the Carnival of Financial Planning ( hosted by The Skilled Investor). Lastly, I owe Baker from a great site Man vs. Debt an apology for not backlinking to the previous edition of the Carnival of Twenty Something Finances. Our Hobby Lobby Raises Their Minimum Wage was included, and somehow I really couldn't find my post initially. Thanks so much guys for the referrals of your readers to my posts. I appreciate the referrals a lot and am happy to for this opportunity.

To my readers: I am so honored by your support. Thank you for reading, subscribing, and for voting for articles from this site on social bookmarketing sites such as stumbleupon, reddit, delicious, digg, propeller, and yahoo buzz. Together, we are telling thousands of the importance of financial literacy. I absolutely could not do it without you. You are vital this this site, and I appreciate your help so much! Thanks

Posts of the Week

The worst is over with the economy

The High Cost of Poverty: Why The Poor Still Pay More

Humorous Money News (Illustration)

Should this easy to understand chart be supplied with every credit card

Business News

Time Warner to spin off AOL by the end of 2009

Should bloggers disclose sponsored posts?

Economy

China warns Federal Reserve over "printing money"

What the credit card holders Bill Of Rights means to you

The worst is over with the economy

Consumer confidence soars in May

Entertainment Money News

Terminator no match for Night at the Museum 2

The world's richest college dropouts

Money Editorial
The High Cost of Poverty: Why The Poor Still Pay More

New study shows poor give greater percentage of income to charity

How to spend like a frugal millionaire

Is A Credit Card Safer Than A Check Card?

By: Roshawn Watson

I was recently participating in a forum about credit card deadbeats and was amazed by some of the debt myths being perpetuated by experts (I use this term loosely). Moreover, one was so brazen as to attack me likely because his (or her) differences in opinion about debt and his misinformation. Of course, I simply responded to the attacks with the truth, and at the time of writing this I have yet to be challenged again. However, this got me thinking,

"if the disseminators of personal finance wisdom have this issue wrong, could some of my readers also believe the same debt myths?"

I hope not to offend you with the last question. I have the utmost respect for you; after all, you're clearly reading a personal finance site to improve your financial literacy or to interact with other like-minded individuals. Nonetheless, debt myths have been so ingrained into our society that people cling to them religiously and will attack anyone who challenges their paradigm.

Let me be clear. I am debt free (excluding the house) and NEVER intend to carry consumer debt again. To date, getting out of debt was one of the most painful experiences I have undergone. I simply don't care enough about what other people think of me to go into debt to prove I am doing well. Instead, I will simply do well.

My "controversial" statement and the obnoxious reply
Now, I made a comment on the forum stating since I primarily use my check card as a credit card,

according to (the) Visa-Mastercard websites, I am afforded the exact same legal protection as anyone using their credit cards. Thus, it is my understanding that it is no safer to use a credit card over a debt card.

Now of course, the Visa or Mastercard's legal protection on their check cards is simply a verifiable fact, yet instead of going to their website BEFORE trying to discredit me, one zealous credit card enthusiast decided to attack first. Here is his or her rant...

Check your facts... There is no federal law that protects debit cards from fraudulent activity (though at least one state--MA--has state law mandating it). For everyone else, it is up to the bank to create its own policies, and it's strictly voluntary. Contrast that to credit cards, which have strict federal laws regarding liability with fraud...

There is a federal law regarding consumer liability with ATM cards, but depending on your bank they may not apply it to debit cards. And either way, the law protecting credit card is better.
i) $50 if you notify the bank within 2 days of finding out your card is lost or stolen;

ii) up to $500 if you notify your bank after 2 days of learning of the loss or theft;

iii) potentially, unlimited liability for all unauthorized transactions that occur after 60 days from when you receive your statement containing the unauthorized transactions if you fail to notify your bank within 60 days of receiving your bank statement.

Notice that I never said that there was a federal law that gave the same protection. I have been aware of legislation he quoted for years, and yet I said according to Visa-Mastercard's website, I am afforded the exact same legal protection as anyone using their credit cards. Well because I value the truth more than peace I responded as such.

Look, I know my facts fine. Here is a statement straight from VISA site...

Q: Does my Visa Debit card have security protections?
A: Yes, when you sign for your purchases, Visa Debit card’s security protections help prevent, detect and resolve fraud in various ways:

Visa's Zero Liability Policy, which protects you from unauthorized charges. Any funds taken from your account due to fraudulent use will be returned to you.

Did you get that? When you use the check card as a credit card (sign for purchases), you have ZERO LIABILITY. This is the condition that Visa mandates from banks issuing check cards with their logo...period.

If you want to read more, check it out for yourself

Convenience and Protection are NOT the same thing
Now, another forum member (this one I personally like a lot and sometimes read his site) commented on my response stating...

This is very different than what happens with a credit card. If there is a fraudulent charge on my credit card, I am never out a penny, even for a moment. There is nothing that needs to be returned.

If, however, there is fraudulent activity on a debit card, that money is gone from your account until they investigate and eventually refund it to you. In the meantime, you don't have those funds, which could cause other payments to bounce and result in a slew of late charges and other issues that you need to spend time cleaning up once you get the money back.

Now, this is a good point albeit a different point from the one that I was making. He is speaking about the convenience of using a credit card compared to a check card and I was speaking of the protection of using a check card compared to credit card. These are two very different things indeed. Although I care immensely about protection, some conveniences I can do without. Here is my response.

I never said that fraudulent charges were never taken out of your account. Just as if your credit card account was fraudulently charged, your account will initially reflect the (fraud). If you have check card fraud, your bank account would be drafted. However, my point is that you are afforded the same protection: zero liability for fraudulent charges once you inform them. For me that's enough.

Additionally, this is why I also carry ID theft insurance (they will spend the time cleaning up the bad charges) and overdraft protection (no late fees). The money will be returned and fees reversed in the event of theft.

Additionally, according to a report by Dunn and Bradstreet, people generally spend 12-18% more on purchases when they used credit vs. using cash/check card. There is a phenomenon called the "

pain of paying cash." Thus, one generally spends less if it comes directly out of their account. This is why I choose to use my check card.

It's a preference mostly. I definitely choose the inconvenience of having my ID theft protection service clean up the mess (if fraudulent charges are made) than paying a credit card bill each month, especially if that means that statistically I'm likely to spend (12-18%) more.

Obviously, my point in highlighting this discussion is not simply to say that I'm right and they're wrong. That's beyond childish. To me, the more important issue is that sometimes we tout our debt myths so long that we're completely oblivious to easily verifiable facts pointing to the contrary and will even attack others rather than face our own deception. Don't be a tool for the credit card industry to manipulate. Know that you will likely spend more when you pay using a credit card compared to paying cash, and know that statistically, most people (two-thirds) do NOT pay their bills off every month. I know you're different, but make sure you know your facts well. Otherwise, you'll be ill-equipped to defend the very belief system that you're fighting so hard to protect.

Lastly, if you like this post, please subscribe (upper right-hand corner); You will RECEIVE FREE GIFTS; also, support this post and Propel it, Stumble it, and tag it on Delicious.

Related Posts
Pain Of Paying Cash

7 Disastrous Debt Habits

How Much Money do American Idols Make?

By: Roshawn Watson

Sure they win a highly coveted music contract and instant fame, but do the American Idol winners actually get the paycheck to go with it? As reported yesterday on E News and Forbes, the top 10 American Idol earners (excluding the judges and people behind the scenes) are featured in the video below. Enjoy!







Forbes' Top 10 "Idol" Earners of 2009:

1. Carrie Underwood - $14 million
2. Jennifer Hudson - $5 million
3. Kelly Clarkson- $4.2 million
4. Jordin Sparks - $3.1 million
5. Kellie Pickler- $2.3 million
6. Clay Aiken- $2.2 million
7. Chris Daughtry - $2 million
8. David Cook- $2 million
9. David Archuleta- $1.3 million
10. Taylor Hicks - $300,000

According to Forbes Celebrity 100 for 2010 (only measures entertainment income)

1. Ryan Seacrest earned a total of $50 million
2. Simon Cowell earned a total of $80 million; income reportedly the same according to Enews (2011)
3. Randy Jackson earns approximately $5 million (per Enews)
4. Jennifer Lopez will earn approximately $12 million (per TMZ) in 2010; raise to $25 million (2011)

Related Posts

Jessica Simpson and Britney Spears Money Round Up

How Much Money Does Kim Kardashian Make?

How Much Does DWTS Pay Celebrities

Tori Spelling - Unsung Financial Hero?

Image Credits: Maria Sansone, netmen! leeeeeeleeeeee Flickr

Uncommon Money News (Vol. 60)

By: Roshawn Watson

In preparing to write my posts, I often come across noteworthy and sometimes bizarre financial and business news. Below are links to some of these sites. Enjoy!

I am especially appreciative to the Intelligent Speculator for hosting the Carnival of Financial Planning. I am happy that our Hobby Lobby Raising Minimum Wage to $10 per Hourly was accepted into this carnival. The same post was also featured this week on One Family Blog's Road to Financial Independence Carnival. Additionally, last week's Rich But Financially Inept was featured at Finance UR Life's Follow Friday edition. Thanks so much guys for the referrals. I appreciate the referrals a lot and love to find out about other PF blogs.

To my readers: I am so honored by your support. Thank you for reading, subscribing, and for voting for articles from this site on social bookmarketing sites such as stumbleupon, reddit, delicious, digg, propeller, and yahoo buzz. Together, we are telling thousands of the importance of financial literacy. I absolutely could not do it without you. You are vital this this site, and I appreciate your help so much! Thanks.

Posts of Week
Could the recession already be over?

Are we permanent penny pinchers?

Humorous Money News

Having fun at the office (see illustration)

Having fun with money at work (pics)

Business
GM bankruptcy plan eyes quick sale to gov't

Senate decides not to cap credit card interest

Sony suffers first annual loss in 14 years

GM to eliminate 1,100 dealerships

Economy

Could the recession already be over?

Are we permanent penny pinchers?


Entertainment Money News

Angels and Demons tops the box office

Britney Spears Bills Hefty as Ever

Editorial

The High Cost of Poverty: Why the poor pay more?

The Sad State of American Finances

By: Roshawn Watson

Harris Interactive recently released the 2009 Consumer Financial Literacy Survey. This survey sampled 1000 Americans over 18 years old between March 13-16. Their results demonstrate that most Americans have considerable financial deficiencies. Here are their revealing findings...

Financial Literacy

• 41% of U.S. adults gave themselves a grade of C, D, or F on their knowledge of personal finance.

Budgeting

• Less than half of adults keep close track of their spending, and several had no idea of food, housing, entertainment, and do not monitor their overall spending.
• I would argue that much fewer people rigorously budget than this study indicates.

Spending

• 57% of adults spend less than they were a year ago although 45% of those now spending less admit that if their financial situation were to improve, they would resume their previous spending habits.

Savings

• one-third of adults report having no savings, and only 23% save more than they did a year ago.
• 48% Generation Y adults have no savings.
• Not surprisingly, 55% say that they would borrow in the case of emergency.

Debt and Credit Card

• 26% admit to not paying all bills on time, and this rises to 51% of African Americans.
• 6% carry debt load of 10,000 or more and the same percentage have debts in collection and are now considering bankruptcy.
• I definitely believe this is underestimated as well.

Credit Score

• 64% have not ordered a copy of their credit report despite it being free, and this rises to 72% for Hispanics.
• 37% do not know what their credit score is.

Housing

• 42% of adults have a mortgage, and a little over one-fourth (28%) say that their mortgage terms turned out differently from their expectation.

Retirement

• One-third of adults put no part of their annual household income towards retirement.

Insurance

• 13% of adults have no medical insurance, and 65% of elderly adults have no long-term care insurance.
  

These findings definitely indicate that most Americans don't know very much about their finances, don't have a good handle on their budgets and spending, and have little idea of what their recent credit history looks likes. Additionally, many of us are signing contracts that we don't understand, not investing for retirement, and falling behind on our debts.

We have to do better, regardless of our income. Even a household making $40,000 per year will bring in over $2 million over the typical life-time, and to be financially inept is just irresponsible, especially now that we're in the midst of a global financial mess. If anything, this survey is probably underestimating our financial dysfunction, since it relies on participants to self-report somewhat embarrassing (or at least non-flattering) details of their finances. However, these results will hopefully serve as our wake-up call. Otherwise, we have not learned the lessons that got us in this financial mess in the first place, which would be the true tragedy.

Lastly, if you like this post, please subscribe (see upper right-hand corner), Mixx it, Propel it, Stumble it, and tag it on Delicious. Also, click here to get my eBook FREE.

Image Credit: Mario

Uncommon Money News (Vol 59)

By: Roshawn Watson

In preparing to write my posts, I often come across noteworthy and sometimes bizarre financial and business news. Below are links to some of these sites. Enjoy!

To my readers: I am so honored by your support. Thank you for reading, subscribing, and for voting for articles from this site on social bookmarketing sites such as stumbleupon, reddit, delicious, digg, propeller, and yahoo buzz. Together, we are telling thousands of the importance of financial literacy. I absolutely could not do it without you. You are vital this this site, and I appreciate your help so much! Thanks.

Posts of Week
USPS loses 5 new Lenova laptops insured for thousands and finally pays claim of just $74

Intel fined record $1.45 billion in antitrust case

Business

Big US banks: Will the government break them up?

Intel fined record $1.45 billion in antitrust case (POW)

Are multinationals paying their fair share of taxes

USPS loses 5 new Lenova laptops insured for thousands and finally pays claim of just $74 (POW)

Entertainment Money News

Star Trek has over $76 million opening

Rich But Financially Inept

By: Roshawn Watson

Fast money doesn't generally equate to long-term wealth. NBA stars are the perfect example. They make more money in a few years than most can hope to earn in a lifetime, yet over 60% of them go broke within 5 years after retiring. Such are the perils of many professional athletes: rich but financially inept.

Great Athletes With Greater Financial Problems
There are plenty of examples of athletes who allowed their finances to go into disarray. Two very prominent ones are Mike Tyson and Evander Holyfield.

Mike Tyson
During the course of his meteoric rise to the Heavyweight Champion of the World, Mike Tyson earned hundreds of millions. His earnings were about $400 million, yet he still managed to squander so much money that he ended up bankrupt. Sure he had jewelry, mansions, cars, limousines, parties, expensive clothing, motorcycles and Siberian tigers, but he also had tens of millions in debt and bills that he couldn't pay. Ultimately, he ended up filing bankruptcy in 2003, stating simply, "I am unable to pay my bills."

Evander Holyfield
Another sad example is Evander Holyfield. At 46, he is still fighting, which is impressive. Honestly, I am a fan of his. Not only is he a champion, but he is pretty generous. A few years ago, he personally donated several thousands to my church. However, he presently has some real financial trouble. His $10 million, 54,000 square foot Atlanta home is reportedly in foreclosure, and he is being sued for half a million for landscaping.

Rule-Defying Athletes
Of course not all athletes follow this path. Some do retire and remain very wealthy. Herschel Walker, for example, was able to translate the discipline he exercised on the field to build a successful food service enterprise. A mega-success story is Magic Johnson, whose business empire is worth over $700 million. In fact, Johnson's brand of social entrepreneurship has changed some communities from destitute to thriving. Clearly, there's something that separates those who can make the transition from sports to business (or even normalcy) and those who suffer huge financial setbacks once they retire.

Why do athletes go broke?

1. Poor spending habits. One reason some athletes go broke is poor spending habits. You can only out-earn stupidity for so long. If you have poor spending habits, even a 7 to 9 figure income won't sustain you because you will literally spend whatever you take in. Your wealth will be easily spent on cars, jewelry, partying, and your entourage. All too often, people go broke trying to look more prosperous than they really are.
   
2. Moochers. There are several "friends" and family members who take advantage of these high-income earning athletes. Unfortunately, one of the biggest mistakes is the mistake of trust. Many of those who are a part of these athletes' lives expect to be taken care of. The sad truth is people really do treat you differently when they perceive that you have money. I recall one friend saying how shopping attendants and store owners bend over backwards to supply his every whim because they know he may drop $30-40K in just one visit.
3. Bad Advice. Everyone likely has a broke relative who tries to give them financial advice. However, what do you do when advisers with all the appropriate financial credentials are telling you that you can become even more wealthy by following them or will be financially lost without them. Many athletes are deceived into thinking that these advisers have their best interests at heart, yet some of these advisers are terrible. Marie Osmond recently credited bad financial advice as the cause of her family losing $100 million. Oprah Winfrey has been quoted saying one of the best financial lessons she learned was to sign every check. Remember, they call these guys "brokers" for a reason... they make you broker.
   
4. Lacking Adaptation. The biggest problem I perceive is the lack of ability to adapt one's lifestyle when one is not earning those huge paycheck. Although some lavish spending may be deemed as wasteful by some, if you are making 8 figure, you can afford lavish. However, once you retire and are making substantially less, you have to adjust your expenses accordingly. This is where many miss it: not realizing that the ride is over.
5. Keeping Up With The Joneses. Additionally, professional sport figures often associate with other very high income individuals. It is easy to get drawn into overspending because everyone around you is. I is also difficult to admit you are a financial fake because you are borrowing to have a lifestyle that you cannot afford.

Should We Care?

We should care about athletes going broke because financial difficulty after rapid prosperity is definitely not isolated to professional athletes. Consider countless celebrities, lotto winners, and even people in your own life who might have come into a little money at one point. The truth is money merely magnifies what's already there, so if we're poor financial managers with our present income, then it will be hard to make smart money decisions once we have a lot more. He that is faithful in little will be ruler over much.

Now, it is true that most athletes and entertainers have added stresses (i.e. fame and public disclosure of salaries) not experienced by most of us. However, that does not negate the fact that we can still fall victim to the same traps that keep many of them broke after retirement.

At some point in our lives, we all may come into a lump sum or two, and hopefully, we will be able avoid making some of the same mistakes that causes athletes to squander their fortunes.

Related Posts

Forget Looking Rich...Be Rich

Celebrity Apprentice 2 Season Finale

By: Roshawn Watson

I can't believe Joan Rivers won Celebrity Apprentice. What a great finale (albeit a 3 hr one) and surprising outcome! Who knew Trump would follow through with the final task criteria. I loved that Annie had that "I won" look on her face right as Trump said "you're FIRED!"

Uncommon Money News (Vol. 58)

By: Roshawn Watson

In preparing to write my posts, I often come across noteworthy and sometimes bizarre financial and business news. Below are links to some of these sites. Enjoy!

To my readers: I am so honored by your support. Thank you for reading, subscribing, and for voting for articles from this site on social bookmarketing sites such as stumbleupon, reddit, delicious, digg, propeller, and yahoo buzz. Together, we are telling thousands of the importance of financial literacy. I absolutely could not do it without you. You are vital this this site, and I appreciate your help so much! Thanks.

Posts of the Week

AIG: Oh... you meant all bonuses... well be more specific next time

Chrysler will not repay over $7B in bailout "loans." So the taxpayers have been shafted for more than it would have cost the government to flat out *buy* Chrysler

Obama Wants to End Tax Shelter Rules That Save Companies $190 Billion

Humorous Money News

How to make a 419 scammers disappear (funny stuff)

Business News

AIG: Oh... you meant all bonuses... well be more specific next time

Top 10 highest paid CEOs

Chrysler will not repay over $7B in bailout "loans." So the taxpayers have been shafted for more than it would have cost the government to flat out *buy* Chrysler

Obama Wants to End Tax Shelter Rules That Save Companies $190 Billion

Tax savings, anyone? One five-story office building in the Cayman Islands serves as the official address for 18,857 corporations, with half those companies having U.S. billing addresses.

Disney buys 30% share in Hulu (I love Hulu...)

Economy

Two top Federal Officials see Recession Ending by the end of 2009

Getting By On $400,000

New jobless claims plunge to 601,000

Entertainment Money News

The sensational trail over Brooke Astor's fortune

Wolvlerine slashes rivals with $87 million domestically

ls Recession-Induced Frugality Sustainable?

By: Roshawn Watson

The party is over

For the last 25 years, our destructive habits of financial excess and self-indulgence have characterized the nation. We've been guilty of overleveraging, overspending, having no sense of delayed gratification, and a negative savings rates. Nonetheless, our awareness of our atrocities was lessened by rising home values, ballooning 401Ks, and access to easy money. It was a bit naive anyway to believe that consumers would indefinitely be able to or willing to fund the economic prosperity by staying ridiculously financially overextended. Thus, the boom was unsustainable.

For years, enthusiasts for unfettered capitalism have insisted that the withering away of enterprises and entire industries is a healthy and necessary part of a vibrant, self-correcting economic system; ...we must endure the shocking and awesome pain of that metamorphosis. After decades of talking the talk, now we're all obliged to walk the walk. (Kurt Anderson, host of Studio 360)

Culture redefining recession
Well, the reset button has been pushed, and the America about to emerge may be decidedly more frugal.

Indeed, the knee-jerk reaction of abrupt cessation of spending, lending, and borrowing precipitated this recession and wave of unemployment. Although I hope that the downturn is temporal as some recent indicators suggest, I hope that the paradigm shift pertaining to money remains. For example, we rediscovered the art of savings. Goldman Sachs predicted 2009 savings rates to be between 6-10%. We even went from record high debt-to-income ratios in 2007 to the American debt load shrinking in 2008, which is a first time American debt has shrunk since 1952.

Of course, it is inevitable that we will start spending again. Just like a food addict, total abstinence is not a viable option. This still doesn't mean that we wont retain the lessons of frugality, just as some of the survivors of the Great Depression. In other words, resisting expensive cars, McMansions, Jimmy Choo's, jewelery, 60 inch plasma TVs, fine dining, etc. may just come more natural. Perhaps financial temperance will be the new norm.

...we surely will have to adjust the ways we think of ourselves. Still an exceptional country, absolutely, but not a magical one exempt from the laws of economic and geopolitical gravity. (Kurt Anderson, host of Studio 360)

Isn't Frugality Bad?
No. No. No, frugality is definitely not bad. Some people sneer at the mention of frugality. Mentally, they get images of miserly individuals who hoard out of fear. We all know a few who are just really tight with money. Their primary motivation in any purchase is costs, not quality, because they fear running out. I would argue they are cheap not frugal.

Interestingly, many frugal people are purchasing a lot during these times. For example, my spending has increased during the recession. There are bargains on everything from electronics to rental properties, and even cars. Some of the deals are just too good to pass up. Some mistakenly believe frugality to oppose capitalism, but there is no direct conflict between frugality and capitalism per se. Frugality isn't the absence of spending but rather choosing to spend wisely. For example, you may choose a more expensive dishwasher because of its superior quality and decreased likelihood of needing a quick replacement.

One friend recently wrote in...

I think frugality in the sense of spending wisely is ultimately better (than being cheap or spending frivolously). When people reserve their funds for purchase of quality goods and services that have results and products with staying power, manufacturers are pressed to produce quality goods to be able to compete in the market. When an economy is based on large scale production of quality goods and services, it drives innovation and results in a more stable long-term economic model.

In other words, not only is frugality not bad, it may lead to economic stability.

Defining product of the recession

Now that the age of self-enchantment has ended, each of us has to come to grips with what the "good life" really means to us. If a more honest and responsible relationship with money, better quality products and services, and improved innovation are the defining products of this recession, we will surely emerge stronger than ever.

What are your thoughts???

Lastly, if you like this post, please subscribe (upper left-hand corner), click here to get my eBook FREE, and Propel it, Stumble it, and tag it on Delicious.

Image Credit: crizlai

Related Posts

Is Extreme Frugality For You?

Too Frugal For Your Own Good

Thrift Paradox - Is Frugality Hurting The Economy

For The First Time, American Debt Shrinks

Uncommon Money News (Vol 57)

By: Roshawn Watson

In preparing to write my posts, I often come across noteworthy and sometimes bizarre financial and business news. Below are links to some of these sites. Enjoy!

To my readers: I am so honored by your support. Thank you for reading, subscribing, and for voting for articles from this site on social bookmarketing sites such as stumbleupon, reddit, delicious, digg, propeller, and yahoo buzz. Together, we are telling thousands of the importance of financial literacy. I absolutely could not do it without you. You are vital this this site, and I appreciate your help so much! Thanks.

Posts Of The Week



Money for Nothing -- there’s no longer any reason to believe that the wizards of Wall Street actually contribute anything positive to society, let alone enough to justify those humongous paychecks.

GM "likely" to build factories in China while closing U.S. factories. If so, bailout money from U.S taxpayers will be used for construction

Moviegoers are Obsessed with Beyonce

Business News
GM Offers US a Majority stake, sheds over 20K employees and axes Pontiac

UAW to get 55% stake in Chyrsler

Money for Nothing -- there’s no longer any reason to believe that the wizards of Wall Street actually contribute anything positive to society, let alone enough to justify those humongous paychecks.

Liquidate General Motors

Chrysler Succombs to Bankruptcy

Economy
GM "likely" to build factories in China while closing U.S. factories. If so, bailout money from U.S taxpayers will be used for construction

11% of housing units vacant
Entertainment Money News

Moviegoers are Obsessed with Beyonce

Simon Cowell Lives large as Musicians Lose tens of million in downturn

Rihanna wants her $1.4 Million in Jewelery back from cops

Offbeat Money News

This is what $400,000 looks like

Brothels cut prices to beat recession