Wal-Mart To Introduce New Logo

It is being reported this morning, that Wal-Mart plans to change their logo. The design, which is already appearing in advertising will show up on signage later this fall.

The old signage, appeared as Wal-Mart, with a star in the place of the hyphen. The new logo, will seemingly copy the Kmart logo, by pushing the wal and mart together. It will then place an orange star burst at the end. Take a look at the two logos on the right, to compare the differences.
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Free Credit Report and Score Monitoring?

Did you know beginning later this month(June 16, 2008), you will be able to get free unlimited access to your credit report and score? It's true! After confirming it with multiple sources, I am bringing you the information, so that you can take part in this limited time offer.

I first heard about it on Saturday mornings Today Show. After which, I began looking on the news sites. Where, I found several more articles on the deal.

It seems that there was a class action lawsuit against TransUnion. TransUnion denied any wrongdoing, but agreed to settle the case to avoid lengthy litigation expenses, according to the settlement.

Millions of consumers will soon be able to get their credit score and up to nine months of credit-monitoring service for free from TransUnion, which reached a preliminary settlement of a class-action lawsuit this week.
- SeattlePI.com

Giving millions of Americans a great opportunity, to check their 3-digit credit score, which determines the interest rate you'll get on mortgages, car loans and other credit accounts. However, the expert interviewed on the Today Show warned that the credit score that TransUnion gives you will be only a TransUnion score and will not be the FICO score that banks, financial institutions and other lenders use. Still though, it does give you a good idea of that number that Dave Ramsey calls "the I love debt score."

I strongly recommend taking advantage of this offer, if you qualify. So how do you qualify?

If you had a credit card, loan or credit account between January 1987 and May 28, 2008 (this will include millions of consumers), you'll be able to elect one of two options:
- SeattlePI.com

Finally, if you do qualify, there are two options that you have.

(1) Basic relief. Free credit monitoring for six months, which gives you daily access to your credit report and credit score and 24-hour credit-monitoring service. This normally costs $59.75. Those who elect this option may get a cash payment if there's money left from the $75 million settlement fund.

(2) Enhanced relief. An alternative enhanced set of services" in exchange for a full release of claims. This options includes nine months credit monitoring, a suite of insurance scores and TransUnion's mortgage simulator service. This option normally would cost $115.50. You won't be entitled to any cash payment under this option.
- SeattlePI.com

If it were up to me, I would take the 6 month option, in hopes to getting that check also. However, if you don't want the cash payment, then go ahead and take the 9 months option. No matter, which option you choose, remember to cancel at the end of that period of time.


So how do you get benefits? Starting June 16, you'll be able to register online at www.listclassaction.com or call 1-866-416-3470.
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Is Busch About To Be Sold To A Foreign Investor

According to the Kansas City Star, this afternoon, there are rumors that Belgian brewer, InBev NV is considering making an offer of $65 a share, or $45 billion, for Anheuser-Busch.

Deutsche Bank AG responded to the news by downgrading Anheuser to “hold” from “buy” at, saying the stock price has been driven by press reports of the possible deal.

“We have concerns that such a high price requires aggressive cost reduction and risks harming brands, distribution and execution,” analysts Marc Greenberg and Andrew Kieley wrote in a research note dated May 26. “These are not positive changes, but simply what’s necessary to feed an ever-hungry global deal machine.”

The Wall Street Journal reported today that InBev was considering the deal and that while CEO August A. Busch IV and his father August A. Busch III were opposed to the deal, others in the family thought it was worth considering. While the Busch family has guided the company for 150 years, it now controls less than 4 percent of its shares.
- Kansas City Star

We know according to the article where Busch III and Busch IV stand, but who if any, are the other family members that agree with them? Disagree? More importantly, where do the majority share holders stand?
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Gas Prices Around The World in U.S. Dollars/Gallons

Think you are paying to much for gas? NBC News, last night, compared the U.S. average gas prices per gallon to those around the world.

Russia $3.06

United Kingdom $8.28

Netherlands $9.52
- and in -

Saudi Arabia 45 cents

I still think, as soon as I can afford it, I am going to purchase a scooter (like I had in the early 90's, attending Washburn University). Be perfect for my commute to work and for getting around town.

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KC-based dairy co-op under investigation

The Kansas City Star broke a story this afternoon, that could possibly bring milk prices down in the near future. At least that is my hope, after reading the story, that I have posted in it's entirety below.

The Kansas City-based Dairy Farmers of America farmer-owned cooperative, which controls a third of the nation’s milk supply, is under investigation for price fixing, according to a published report.

The report, in the Monday edition of The Wall Street Journal, also says that the Justice Department will investigate a recently disclosed $1 million transfer approved in 2001 by Kansas City-area resident Gary Hanman, then-chief executive of the cooperative, to the then-chairman, Herman Brubaker. There was no answer Monday morning at Hanman’s home telephone number.

The cooperative, which is based near Kansas City Internationl Airport, collects raw milk from its more than 18,000 farmer members throughout the U.S. The co-op processes and sells it for bottling or for making other products, including cheese or butter, at its own plants or at ones owned by others. The price-fixing allegations are being reviewed by the Commodity Futures Trading Commission, which is looking at whether the co-op sought to drive up prices of milk through trading of cheese contracts at the Chicago Mercantile Exchange.

by Jennifer Mann

One-third of the nations milk supply, is a significant amount of the nations milk we drank. If the Justice department finds that price-fixing did in fact happen, we could see a reduction in milk prices across the board. Something, I would welcome highly. I mean with milk prices near $4/gallon, it would be welcome to see prices drop, even it was only by $1/gallon.

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VISA IPO

Do you like to loan money to people or organizations that have been sued, so they can pay for that litigation? Well, according to the blog ChrisPerruna.com that is exactly what you will be doing if you buy the forthcoming Visa IPO.

Visa is hoping to break records and raise up to $19 billion from its initial public offering. The only question is whether they can pull it off in this jittery market.

In a filing on Monday with the Securities and Exchange Commission, the San Francisco-based credit-card company said it was planning to offer 406 million shares between $37 and $42 each. Underwriters can offer an extra 40.6 million shares if demand warrants.
- Forbes

When I first heard about this new IPO, this afternoon, the commentators on the radio were surprised that they weren't already publicly traded. The same talk show with Raubin Pierce and Megan Mosaic even jokingly mused if they could buy the Visa stock with their MasterCard (nyse: MA) or Discover.

While American Express (nyse: AXP) has been publicly traded for years, MasterCard only has been traded since 2006.

The filing showed Visa was the biggest of the credit-card companies, however, with MasterCard and American Express trailing it in transactions in 2006.

In 2006 MasterCard, its closest competitor, had 23.4 billion transactions while Visa had 44.0 billion. Based on MasterCard's current market capitalization of $26.0 billion, Visa's market cap would be $48.9 billion.

Monday's announcement comes only months after Bank of America (nyse: BAC) announced it was resurrecting the BankAmericard brand. BankAmericard, launched in 1958, was the precursor of Visa.
- Forbes

Once this IPO actually occurs Discover, will be the only major credit card that is not publicly traded. If you remember Discover's history, they like H & R Block started out as a division of Sears. Unlike Block (which was spun off), Discover was sold to Morgan Stanley, which spun the card issuer off in July 2007.

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*** Image source ChrisPerruna.com

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Website Flaunts Potential Illegal Activity

I have learned of an online tool that benefits the identity thieves. Yet our nations law enforcement don't seem to be doing anything about it. Since 9/11, we think that security is tighter, and that online tools as this, would be shut down quickly. Since I have spoken out on consumer advocacy issues before, I can't continue to be quite about this website any longer.

The website is called Fake Name Generator. The owner (Jacob Allred) of the site has registered both the .com (registered since July 1, 2006) and .org (registered since Dec. 31, 2007) versions of this name. According to the Who is records, if he used his real contact, he lives in Suffolk, Virginia. Another person has registered the .NET version, but has not developed the site. That person, according to the records lives in the Bahamas (registered since Aug 16, 2007).

The website blatantly promotes on the website, "Your Randomly Generated Identity." Then easily and for free the user can get a fake name, address, credit card number and social security number generated. Not only that it will give you a fake email address and website, both of which you would have to register, before they could actually be used.

With the website so blatant, I don't understand why it even still exists after nearly 2-years. I myself first learned of this site a few months ago, when another blogger discussed it. Figuring that it would be gone pretty quickly, I ignored it, However, in recent weeks I have returned to the site and found it was still active. I even played around with the tool and found it to work pretty well. However, my big concern is that identity thieves will and probably do use this site to commit fraud. Whenever, you use a fake social security number to obtain credit or job, you are committing fraud.

Some of my fellow bloggers think the website is OK, because you can use it to generate a fake online name or names for a book. However, my concern, if that was the case the site would not need to generate fake credit card or social security numbers. I really don't see any reason to generate those 2 numbers, except for fraud.

I called the Kansas Bureau of Investigation (KBI) and asked them the question, figuring that ways the place to start. If my concern warranted the attention, that I thought it did, they would certainly bring in the FBI. Amanda with the KBI, didn't feel that any crime was actually committed, because they have free speech. When asked about the social security numbers being on the site, she said that as much as we might not like it, there is no crime unless it can be proved that someone identity was actually stolen.

The website does say, in the FAQ's section:

We do not condone, support, or encourage illegal activity of any kind. We will cooperate with law enforcement organizations to assist in the prosecution of anyone that misuses the information we provide or that asks us to provide illegal materials, such as forged documents or genuine credit card numbers.

That being said, we really don't see how it could be. If you make up a random name and address off the top of your head, do you really think its illegal?

As for the fake credit card, the website claims:

We use Graham King's PHP credit card generator. This script creates a fake, but syntax valid, credit card number. The expiration date is randomly generated to be a date in the near future. We use inactive prefixes to ensure that these cards are not used for fraud. These credit card numbers do not reflect anyone's real credit card number.

While it makes the following claim on the Social Security number it generates:

Social security numbers are generated using the pattern outlined by the Social Security Administration. Social insurance numbers are generated using the pattern outlined on Wikipedia. These numbers are completely random, and are extremely unlikely to match the generated name.

So they admit that they could in fact be real numbers. There lies the problem. It doesn't matter, if they match the name or not. Someone committing fraud whether they be an illegal alien, just trying to get a fake social security number to get a job, or someone that is more malicious trying to get credit without using their own number could easily misuse the number. This site, should be shut down or at least severely modified so that it does not include the fake numbers. Let me clarify my point, I have no problems with the fake name, address, phone, email, website or mothers maiden number. I do have a problem with the so called fake credit card and social security numbers and believe you should to.

I called Allred and asked him about my concerns and he claimed that his biggest clients were government agencies, like Australia. These organizations run computer software that needs national identity numbers to test basic computer software without risking disclosure of real information.

Um, OK, if you say so. He says the same thing about the credit card numbers. He did say that he understood my concern, but he really didn't see how it could be a problem.

His website does provide this response on the FAQ page:

We do not condone, support, or encourage illegal activity of any kind. We will cooperate with law enforcement organizations to assist in the prosecution of anyone that misuses the information we provide or that asks us to provide illegal materials, such as forged documents or genuine credit card numbers.

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Another Look At The Rebate Checks

Now that both houses of Congress has approved the stimulus package and the President has signed it, the checks are in the mail. Well not quite. The Treasury Department says that it will be early May of this year before they actually get in the mail. If you get one at all.

Will you get a check if you owe the IRS? How Much will you get? Will you get a check at all? These are all questions, I will answer in today's post.

Tax rebate checks will be mailed to about 130 million people, according to the Internal Revenue Service. Because of amendments made to the bill in the Senate, some 20 million retirees living on Social Security and 250,000 veterans receiving disability benefits also will get checks.

Single tax filers with adjusted gross incomes of less than $75,000 and couples filing jointly with adjusted gross incomes of less than $150,000 will qualify for full rebates.

How much is the rebate?

Most taxpayers will receive a check of up to $600 for individuals and $1,200 for couples, with an additional $300 for each child. Children are defined as younger than 17.
- Topeka Capital-Journal

OK, but there are people who owe the IRS, what about them? I might point out, that I am not talking about tax dodgers here. I am talking about people who for one reason or another came into a windfall of money. Spent it all. And now can't afford to pay the taxes. These people are guilty of poor planning, not of tax invasion.

If you owe taxes, the IRS will withhold your rebate and apply it to what you owe, according to a Treasury Department spokesman.
- MSNBC

So you are going to get a rebate check. What should you do with it?

Dave Ramsey actually made some suggestions recently that I thought would be perfect to share with you my readers.

1. Pay off debt.
Dave Ramsey says, that this may be a no-brainer, but he expects few people will actually do it. As he points out, if you actually do this, then you will be one step closer to being able to buy that I-Pod, TV or whatever it is you have your eye on (for cash).


2. Invest it.
This is the idea I like best and if I wasn't payig down debt with mine would be exactly what I would do with my $600. Think about it, the way Ramsey put it. If you invest in a good "mutual fund averaging 12%. In 2018, that one-time investment will grow to approximately $2,000! If left in for 20 years, it will be worth about $6,500! For the married folks, this free money can grow up to $13,000 over 20 years." Now that's what I call a good investment.

- and finally -

3. Have some fun
Ramsey says that there is nothing wrong with having some fun with your rebate check. A nice dinner out, a couple pair of jeans, a movie are all fun things you could spend some of this money on. However, Ramsey reminds us, no warns us, to know our boundaries. "The quicker you get out of debt," Ramsey says, "the more fun things you can do and the more money you can give away to bless others."

So there you have it. What more can I say? Well there is one more thing. Something that even I believed was fact, for which it isn't. Take a look at this quote, also from the Capital-Journal article.



I have heard this is just an advance on next year's refund. Is that true?

No. This is actually a tax credit for 2008 that normally would reduce the tax you pay when you file next year. Instead, to stimulate the economy, Congress ordered a prepayment of the tax savings.
- Topeka Capital-Journal




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How will you spend your tax rebate?

I have been leery about writing this post, because, I am not sure i know enough to talk about it. However, after hearing a couple of local talk shows tackle the topic, I believe I am better informed at least enough to write this post in a certain style and format, that won't get me in trouble.

First, individuals who pay income taxes would get up to $600, working couples $1,200 and those with children an additional $300 per child under the agreement. Workers who earn at least $3,000 but don't pay taxes would get $300 rebates. Personally, I am not sure how that is a rebate. If you didn't pay taxes, then it's not a rebate, instead it's redistribution of wealth.

Pelosi, D-Calif., agreed to drop increases in food stamp and unemployment benefits during a Wednesday meeting in exchange for gaining the rebates of at least $300 for almost everyone earning a paycheck, including those who make too little to pay income taxes.

"I can't say that I'm totally pleased with the package, but I do know that it will help stimulate the economy. But if it does not, then there will be more to come," Pelosi said.
- The Associated Press

OK, now, that we know some of the important details, I would like to ask the same thing that one of those local talk shows did. How will you spend your "tax rebate"?

For me, if I even get a rebate, because of my IRS debt, I will use it to pay down my debt. If I don't, I assume that it will be a credit to my IRS debt (anyone know?). I would love to say that I was going to put it in savings, but fact is I must get these debts paid down.

Now, I know that it's not what President Bush wants, since I am not spending the money on a new TV or some other item, but I don't care. You can say I don't care about the economy, but as a personal finance blogger and a follower of Dave Ramsey, if we really want to help the economy, we will stop spending more then we make (more on that later).

So I ask again, what are you going to spend your tax rebate on?

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Motto of the future: In Wal-Mart We Trust

Think it's a joke, when you hear someone refer to Wal-Mart as the Antichrist? Well, not so fast. The "joke" or "tongue-in-cheek," comment is based on the facts of Wal-Mart killing small business' in the communities it moves to. Basically, it is believed that Wal-Mart wants to be the one world marketplace that the Bible talks about in the book of Revelations. Now the Kansas City Star reports that Wal-Mart CEO, Lee Scott, seems to confirm that is their desire.

Wal-Mart Stores Inc. vows to be a “company of the future” through cost-saving initiatives ranging from electronic prescriptions to perhaps a place in the hybrid car market one day.

“We live in a time when people are losing confidence in the ability of government to solve problems,” said Lee Scott, president and chief executive officer of Wal-Mart. “But at Wal-Mart, we don’t see the sidelines that politicians see. And we do not wait for someone else to solve problems that might hurt our business or affect our customers in a negative way.”

When U. S. regulators denied Wal-Mart's request to open a bank, Wal-Mart went to Mexico and opened one there instead.

I don't think this leaves much question as to how they want to be the World's one business. They are a company that has proven if they don't get their way, they will either sue to try to force a local municipality to do what they want. Or in the case of the bank issue (from a couple years ago) move go out of the country to do what they want.

Scott said he also has talked to the heads of major auto manufacturers to see if there is a place for Wal-Mart in the hybrid electric or plug-in electric car market. He also plans to work more closely with suppliers to make sure they meet specific environmental, social and quality standards, and to address concerns on product sources.
- KC Star

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Bank of America and Countrywide Marriage

Recently Bank of America announced they were going to buy the troubled home-loan company, Countrywide. Even with Countrywide on the verge of bankruptcy, B.o.A. thought the purchase would be a perfect fit for the mammoth banking institution, according to the Los Angles Times.

As Countrywide Financial Corp.'s stock price cratered and bankruptcy rumors swirled, Bank of America Corp. remained convinced that the largest U.S. home-loan company had a valuable franchise despite years of aggressive lending that left it buried in losses.

Kenneth D. Lewis, chairman of the nation's largest consumer bank, had been well-disposed toward Countrywide since the summer, when teams of his employees first examined the operations and books of the Calabasas-based mortgage colossus.

According Lewis, his staff kept coming back and reporting that Countrywide, was a "well-run mortgage company," at the grass-roots level. . "Its systems are good and its people are good."

Countrywide agreed last week to a $4-billion takeover by Bank of America. Countrywide would become a Bank of America unit and could retain its name depending on a review of how the public perceives the brand, bank officials said.

Talking optimistically about his troubled takeover target, Lewis said Countrywide was successfully reshaping itself as a more prudent lender, one poised to benefit from refinancings as interest rates fall.

The deal, expected to close in the third quarter, marks a reversal for Lewis, who had often expressed distaste for the mortgage industry's potential for questionable lending and unwieldy accounting. He had vowed repeatedly not to buy a home lender.

When Lewis became Bank of America's boss in 2001, the company quit making sub-prime mortgages to shaky borrowers (although its investment banking arm recently lost billions of dollars on sub-prime-related securities).

The bank also recently stopped making mortgages, even prime ones, through brokers, and instead became No. 1 in retail, or direct-to-consumer, mortgages by pushing no-fee loans through its vast branch system.
- Los Angles Times

According to bank officials B.o.A could retain the home-loan company's name depending on a review of how the public perceives the Countrywide brand.


Image courtesy of ABC News
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Kansas To Look At Payday Loans

On this blog, I have on several times railed against the PayDay loan businesses. Last year a Democratic member of the Kansas Legislature introduced two bills that went no where. I even attended a rally in support of such legislation. Well, this year, it is the Republicans leading the charge.


TOPEKA - The rapid growth in the number of payday lending businesses in Kansas has caught the attention of Rep. Clark Shultz, R-Lindsborg. Shultz is the chairman of the House Financial Institutions Committee. His new bill to be introduced next week, will be aimed at limiting such business transactions to better protect area consumers.

Shultz said he's concerned about consecutive loans people are obtaining at several lending businesses.
- Hutchinson News

Currently Kansas law allows no more then two (2) payday loans of $500 or less during a 30-day period. The Payday loan stores charge customers $15 for each $100 borrowed. Making that two-week loan of $500 cost the borrower $75. Put another way, that figures out to be an annual percentage rate of 391%.

Shultz said he wants to prevent people from getting into a debt cycle of principal and interest fees that they can never pay off. This idea is based upon the fact that many customers of these places end up borrowing again and again to pay off the previous loan. In the process digging their selves deeper and deeper into debt as the fees ("interest") charges continue to mount and with in a few weeks are as much as the loan itself.

"I'm not saying it's all bad and I'm not in support of useless regulation. If there's an emergency and someone's car breaks down, I can see the need," he said. "I just don't want people taken advantage of. It's easy in today's society to find yourself in trouble."
- Hutchinson News

Last year Rep. Melody McCray-Miller, D-Wichita, tried unsuccessfully to get legislation passed to help better regulate this industry. Perhaps this year will be different with Republicans in the heavily controlled Republican legislature leading the charge on this. I will certainly be following this as the legislative session (Jan-April) moves forward.

Rep. Shultz, said that this new version would be a committee bill and would not have any sponsors or co-sponsors. When asked what he thought the chances of the bills passage, considering the failure last year, he gave the bill a 50/50 chance.

Attempts to contact Rep. McCray-Miller for comments on this article were unsuccessful.


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0% Capital Gains

I have been reading of late about how Congress is changing the rules for capital gains. However, it may not be for everyone and will only be in affect during the tax years of 2008, 2009 and 2010. According to Kiplingers and USA Today certain lower income stock holders will have 0% capital gains on the sale of their stocks.

To be eligible for the 0% capital gains, the taxpayer can't make more then $32,550 if you are single or $65,100 if you are married filing jointly. This includes the sale of your stock. So, in other words if you are single and make $20,000 and sale $13,000 in stock you will have to pay capital gains on the $500 over the cut off. In addition, you cannot get the incredible tax rate if you have not held the stock for at least a year.

The law did have a loophole, and tax advisor's were quick to advise their clients to give stock to their kids, who traditionally are taxed at a lower rate. Upon learning of this Congress acted just as quickly to close, what the USA Today referred to as a "Hummer size loophole."

But lawmakers weren't happy to hear that parents were planning to exploit the zero-percent capital gains rate, says Ed Slott, an accountant and IRA expert in Rockville Centre, N.Y. "Their intent," he says, "was for retired people to pay a lower rate, not for rich people to shift money to younger kids."

So Congress broadened the "kiddie tax," which taxes a child's investment income at the parents' top marginal rate. The kiddie tax kicks in once a child's unearned income — such as from interest and capital gains — exceeds a certain level. For 2007, that level is $1,700.
- USA Today

So it sounds like this new year may be the year to unload some stock that you may have been thinking of selling.

CIGNA Insurance Refuses Life Preserving Surgery

Did you hear about the greedy insurance company that refused to pay for a liver transplant? Seems CIGNA Insurance Company initially refused to cover the cost of the transplant for 17-year-old Natalee Sarkisian, saying the surgery was too experimental. A liver transplant Experimental in 2007? Despite doctors urging the insurance company to reconsider CIGNA wouldn't budge. So yesterday (Thursday 12/20/07) protesters gathered outside the company's Glendale, CA office to protest. During which the company called to tell the mother that they had changed their minds. However, the decision was to late. Her condition worsened and she was taken off life support within hours of the decision reversal.

I am glad that I don't have this insurance company. If I did, I would strongly consider dumping them. It appears that they don't really care about their customers, despite the claim that their hearts are with the family. Sounds to me their hearts are with their wallets.

Simply put they suck!

http://www.freerepublic.com/focus/f-news/1942702/posts

http://www.myfoxla.com/myfox/pages/News/Detail?contentId=5278599&version=1&locale=EN-US&layoutCode=TSTY&pageId=3.2.1

http://cbs2.com/local/nataline.sarkisyan.CIGNA.2.615167.html

Kroger Profit's Up

This afternoon the Kansas City Star reported that the Kroger Co., the nation’s largest grocery chain, profits rose 18 percent on strong sales.

It boosted its earnings forecast slightly for the full year, but the new forecast was still below Wall Street’s expectations. It also said margins on fuel sales were lower. Its shares tumbled more than 6 percent in morning trading.

Profit for the quarter ended Nov. 10 rose to $253.8 million, or 37 cents a share, from $214.7 million, or 30 cents, last year. Results include a benefit of undisclosed magnitude from resolving some tax issues, offset by lower margins from retail fuel operations.

Revenue jumped 10 percent to $16.14 billion from $14.7 billion.

Kroger a competitor of the regional company, I work for is the only grocery company in my portfolio and one of my largest holdings.

Kroger, which reported $66.1 billion in sales in 2006, operates 2,487 supermarkets and multi-department stores in 31 states under two dozen local banners, including Dillons, Ralphs, Fred Meyer, Food 4 Less, King Soopers, Smith’s, Fry’s, QFC and City Market.

City of Tightwad

Perhaps you have heard of it. Perhaps not, but there is a small town in Missouri called Tightwad. It had a bank, until earlier this year, that was owned by UMB (United Missouri Bank). The bank though carried the Tightwad name, and people from California to Massachusetts opened checking accounts there just to have "Tightwad Bank" printed on their checks.

Well good news may be on the horizon.

A new Tightwad Bank would be the Missouri branch of the $13 million Reading State Bank in Reading, Kan., should regulators approve its application. The bank is headed by former UMB banker Don Higdon, who is Reading’s chairman.

Higdon acknowledged the application for a Tightwad branch but deferred public discussion of his plans until the approval process is complete.
- Kansas City Star

I have never been to Tightwad, even though I have family that lives near there. An Uncle of mine lives in another small town near Clinton and worked in Montrose, but that is as close as I have have been. Someday, I would love to actually visit the town myself.

Christmas Time & Impending Storm Thoughts

I have been busy the last couple of weeks addressing Christmas cards to family and friends. So far, I have mailed about 50 of them. I still have a stack of 100 sitting on my desk awaiting postage, so that I can mail them out. If you were lucky enough to be among those on my card list, you will soon have your Christmas card, if you haven't already received it.

Christmas time is my favorite time of the year. It's not just a time to send Christmas cards, but there is also parties (although tonights has been canceled, due to the weather forecast). However, it is more then that too. The most important thing that makes this "the most wonderful season," of the year, is the good will and cheer that Christmas brings. It is my hope that everyone remembers the true reason for the season.

One thing I do hate about this time of the year is the weather. Today there is a 20%-30% chance of ice before midnight. After midnight that becomes 100%. The storm has already broken limbs and downed power lines as it moves towards Topeka. My hope is that it lessens by the time it arrives here. However, I must be prepared, as I could lose power also. Then again, maybe it could be good and I could get rid of some of the trees (or at least upper limbs) that I have been wanting to get rid of for the last nine years that I have been here.

Cost of Living Figures

The Topeka Capital Journal recently had an article that discussed the costs of living in Topeka (Kansas) versus other cities in Kansas and the country.

According to the article a person making $30,000 in Topeka would need these amounts to live in the corresponding cities (ranked cheapest to most expensive).

Omaha, NE: $29,454

Oklahoma City,OK: $30,453

Lawrence, KS: $30,926 (Kansas University)

Manhattan, KS: $31,881 (Kansas State U.)

Denver, CO: $33,955

Los Angeles, CA: $50,694

New York, NY: $68,551

So looking at cities the size of Topeka or larger, it is actually cheaper to live in Omaha. Maybe I should take a drive straight up US-75 to the city up north to look at relocating. Of course, that won't happen. At least not just for that reason. There is one city that came in cheaper then Omaha (at least for the comparison of the article). That city, Salina, KS, is smaller then Topeka.

It's also important to point out that Manhattan, KS is not only a college town, but also is very close to Fort Riley in Junction City, KS. Topeka is larger then of the Kansas cities listed above, but smaller then any of the out of state cities.

Credit Card's Walk All Over Consumers - Congress Steps In

As I listened to the radio this morning, I am once again hearing that Congress is taking on credit card companies. Credit Card companies have routinely raised interest rates without warning on their victims customers. I know, it has happened to me, as readers of this blog has read. Apparently, the credit card companies are involved in a practice of looking to see if you are late on any other of your debts. If so silently and automatically they raise your interest rates. Even if it is totally unrelated to their credit card.

Congress is renewing its scrutiny of the credit card industry, as some lawmakers denounce the practice of raising customers' interest rates when their credit scores decline, even if they make their card payments on time.

Industry critics say it's another example of abusive, confusing credit card practices that can push consumers deeper into debt.
- Associated Press

While Congress is considering legislation, they are hopeful the industry will do the right thing (LOL) and regulate itself.

Carl Levin, D-Mich., chairman of a Senate Homeland Security and Governmental Affairs subcommittee, is holding out the club of possible legislation to spur voluntary changes by the industry.

"Working people are being squeezed," Levin told reporters Monday. In a call for "good, strong legislation" to be enacted next year, Levin said that "these abuses need to be remedied. ... We have some real momentum for reform."

With Americans weighed down by some $900 billion in credit card debt — an average $2,200 per household — practices of the very profitable industry have been ripe for scrutiny by the Democrat-controlled Congress. They have also grabbed the attention of the Federal Reserve, which plans to require credit-card issuers to give customers at least 45 days' notice before raising interest rates and to provide clearer information on fees.

At a hearing Tuesday, Levin's subcommittee, which has been investigating the industry, planned to look at how credit-card issuers raise consumers' rates, to as high as 30 percent, when their so-called FICO credit scores decline — even if they've paid credit card bills regularly and promptly. In many cases, consumers have little notice of the increased rate, which are automatically triggered by declines in FICO scores for reasons left unexplained, the subcommittee found.

In some cases, just opening another account, such as a department store credit card, could trigger the downgrade in credit score.
- Associated Press

A look at Pier 1

Regular readers of my blog have known that i owned less then 1 share of Pier 1 (PIR). An investment I made through Sharebuilder.com sometime back, when the company was trading at better then $26 a share. Now the company is trading between $3-$4/share. Something that doesn't look good. Even a great value investor, Warren Buffett has dumped part of his investments in the company. I on the other with such a small investment, am hoping to see my stock value increase. So I began watching the company more closely.

At a point when I am not putting any new money into my investments (as I dig my way out of debt), I took the $21 sitting in my Sharebuilder account and invested another $15 into Pier 1. This simple act, increased my holdings to just over 3 shares as of yesterday (Tuesday). Today (Nov. 28, 2007) the stock closed at $4.12 (up 26 cents). This is good news for me, but what about the company's financial stability.

A quick glance at their financial statement, shows that as of September 2007, they had $184 million in long-term debt. This does not include $295 million in liabilities.

As a personal finance blogger, these are two things that I see that the company must cut right away. Over all their total liabilities are $576.33 million. The good news is that they have $838.48 million in total assets. Still, when you look at their cash flow they lost $30.15 million in the second quarter of their fiscal year. This loss is worse then the 2 previous quarters, which also were money losers. In fact they have not been profitable since the quarter ending Nov. 25, 2006. That quarter they reported a profit of $22 million.

According to the Fool.com, they are 2 years from returning to profitability.

It's hard to like Pier 1 these days. The home decor specialist is roughly two years away from returning to profitability. You can pin the blame on everything from the subprime flap to chain-specific flubs, but don't throw in its towel just yet.

One thing I do like is that the new CEO has pulled television advertising. While advertising helps brings in customers, it is very costly. Cutting this expense helps them to become profitable again faster, especially when the customer base tends to be loyal to Pier 1 already. Moving advertising dollars to direct mail pieces as they have done allows their loyal base know of the sales and at a cheaper rate.

I am eagerly awaiting the 3rd quarter financials to see if their cash flow has improved since the September reports.

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my ShareBuilder Holdings

(BRK B) BERKSHIRE HATHAWAY $4,575.00/share 0.0087 shares = $39.80

(KO) COCA COLA CO $62.99/share 1.9547 shares = $123.13

(KR) KROGER CO $28.54/share 5.1353 shares = $146.56

(PIR) PIER 1 IMPORTS $4.12/share 3.1441 shares = $12.95

(WR) WESTAR ENERGY INC $26.25/share 0.7563 shares = $19.85