May
16
2010

personal finance programs

I don’t know. This is one of my pet peeves - concentrating on the discretionary budget of the federal government as if this is actually representative of government spending. I hear people say things like “63% of the budget is spent on defense!” all the time and it’s just not true. Defense is big, but Social Security and Medicare are far bigger and, if you include state and local government spending which spends trivial amounts of money on defense, but large amounts of money on education, Medicaid, and other social programs, you get a much better idea of exactly where government dollars go.

I’m not trying to make a political point here. It’s certainly reasonable to argue that we spend too much money on defense, but posters like this one are designed to push a particular political agenda and are lying to accomplish it. (And, yes, I read their reasons why they didn’t include Social Security and Medicare and I am unconvinced.)

If the Democrats want to pass anything in the Senate with 50 votes over the course of the next year, they have to decide now what they want to use reconciliation for and include that in next year’s budget resolution.

What kind of progressive changes can you accomplish using reconciliation? Well, anything done through reconciliation must effect the federal budget because of the Byrd rule. But that still includes a huge set of great potential issues.

A reconciliation bill gives Democrats the opportunity to pass the bills they want without compromise. It can serve as the perfect vehicle to prove to the American voters how they plan to improve the country and why they should be allowed to hold their majorities.

Below are ten areas Democrats should think about addressing using reconciliation:

1. End Tax Loopholes

Arguably the entire purpose of the reconciliation process was to end things like completely unjustifiable tax loopholes. The special loophole that allows hedge fund managers to pay only a 15% tax rate on their income is a great example of a loophole that should be on the reconciliation chopping block.

2. Job Creation

There is whole range of job creation/job protection actions that could be addressed as part of a reconciliation bill. Something like the Local Jobs For America Act is a good starting point. Tom Harkin’s plan to provide schools with sufficient funds to stop the massive teacher layoffs occurring around the country would a smart job protection idea. And Kent Conrad, Chairman of the budget committee, seems to be envisioning jobs legislation as the main purpose for any reconciliation measure this year.

3. Fixing The New Health Care Law

There are literally dozens of critical changes you could make to the new health care law using reconciliation:

adding a public option or Medicare buy-in
strengthening the risk adjustment mechanism
earlier start date than 2014
all-payer
direct Medicare drug price negotiation
taxing direct-to-consumer drug advertising to discourage the practice

4. Climate Change Legislation

A simple straightforward tax on greenhouse gas production would be economically and environmentally the right thing to do. Putting a tax on CO2 production would help deal with global warming, and the money it generated could be used for many other functions, including deficit reduction, pay for new social services, or proportional reductions in payroll taxes.

Moving to a system that taxes pollution instead of work is not a bad idea. Unfortunately, Kent Conrad is determined to make sure reconciliation will not be used for climate legislation.

5. Energy Efficiency Improvements

Most of our homes, offices, and public buildings are not as energy efficient as they could be. This is bad for the environment and an unneeded added cost to personal and public budgets. Obama’s “cash for caulkers” program is one idea making its way through Congress. Similar legislation could probably be moved using reconciliation with additional funds directed to local governments to add energy efficiency improvements to schools, libraries, police departments, etc.

6. End Corporate Welfare Programs

Our system is so riddled with corporate welfare programs that it is hard to even know where to start. A good place would probably be cutting the insane agricultural subsidies, which appeals to both supporters of sustainable agriculture and anti-subsidy libertarians.

7. Taxing Wall Street and CDOs

A Wall Street tax could be designed to make it unprofitable to get “too big to fail.” Another tax could be create to at least rein the insane volume of CDOs that the finance system is engaged in. The goal would be to have the new taxes on Wall Street that would reduce leverage and risk, to prevent them from bring down the whole economy during a collapse. At the very least, such taxes would allow us to get back some of the billions they have stole from the taxpayers over the years.

8. Dealing With Citizens United Ruling

The Citizens United ruling will unleash an even bigger flood of corporate spending within the political system. While reconciliation might not be the best vehicle to deal with that, there are some solutions that probably could survive the Byrd rule. A bill requiring that all corporate spending on elections be treated as profit and taxed at the top corporate tax rate, for instance. The money raised could be used to create a small donor matching fund program, or a public financing program for those seeking federal office.

9. Increase Infrastructure Investments

Many of our water and sewer systems are incredibly old. We are falling behind in broadband access, and we need to begin a serious investment program in public transportation because gas prices will eventually start to rise as world wide demand picks up. We need to direct more money toward upgrading our infrastructure, and reconciliation could be used as a vehicle to do much of that.

10. Extend Unemployment and COBRA

Republicans have been continuously holding up the temporary extension of unemployment benefits and COBRA coverage. While I think it would be a bit of a waste of reconciliation to use it for this purpose, there are a lot of people hurting in this economic downturn who need help and this is something that would easily fit within the rules of reconciliation.

You Don’t Need To Choose Just One

The great thing is that many of the possible uses for reconciliation are not mutually exclusives, so several of them could be included in one reconciliation bill. For example, jobs creation legislation could be paid for by ending tax loopholes and the billions that would be saved by a public option. A carbon tax could pay for energy efficiency investments and improving mass transit systems.

Reconciliation is the best tool the Democrats have for getting around Republican obstructionism in the Senate.

Please share your thoughts on reforms (need to effect the budgets) that you would like to see passed using reconciliation.

vylbsz online stock trading http://jonturkmusic.com online stock trading, hhruao

Apr
21
2010

Buying Investments Online

startups, investing, Government

Dodd Bill Could Render Startups Too Small to Succeed

James Geshwiler 3/23/10

Senator Christopher Dodd (D-Conn) recently introduced sweeping legislation that aims to rein in the excesses that led large financial institutions to become “too big to fail.” Somewhat ironically, it also has the potential, as one commentator put it, to make startups “too small to succeed.” In the rush to prevent future problems, we risk taking resources away from our entrepreneurs who are the economic engines that create jobs and help grow GDP.

Two Problems for Entrepreneurs

There are two small and seemingly innocuous provisions buried in the over 1,300 pages of this bill that almost certainly will hurt startups, particularly those at the earliest stages. Both have been opposed by the Angel Capital Association and the National Venture Capital Association. The first (sections 412 and 413) would change the definition of “accredited investor.” The second (section 926) would delegate at least part of the oversight for private placement filings—known as Regulation D—from the federal level to states.

These may be small provisions, but they will have no small effect. According to a study last year by the Kauffman Foundation, so-called “gazelle” firms (ages three to five years) comprise less than 1 percent of all companies, yet generate roughly 10 percent of new jobs in any given year. Even more to the point, remove startups from the job creation totals, and only six years from 1977-2005 saw net positive job creation. In the other 28 years of this span, without startups there would have been net job losses. The jobs attributed to startups reflect both the innovation entrepreneurs bring and the net growth to GDP that’s been heavily documented by both the Kauffman Foundation and NVCA.

“Accredited Investors:” Does the SEC Really Need to Protect Millionaires? Dodd’s bill recommends changing the definition of “accredited investor,”which was set roughly 30 years ago at $1 million in net worth or $200,000 per year in salary for individuals. The idea then was that people who were millionaires had sufficient resources to evaluate investment opportunities and did not need the Securities and Exchange Commission to look out for them. While wealth is not necessarily a proxy for sophistication, at least those prospective investors had the resources to hire lawyers, accountants, and other service providers to help them in their assessment.

The argument behind changing the definition is that, thanks to inflation, $1 million is no longer what it used to be. The mistake in that argument is that the world is not what it used to be, either. Back in the 1980s, there were no on-line resources for investors, few entrepreneurial events, and most people, including myself, didn’t know how to spell “VC.” Today, anyone with a computer can learn more than they can imagine about term sheets, growing entrepreneurial businesses, and venture capital. Checking references: use LinkedIn. Need details on an esoteric technology: you’ll likely find a blog, Wikipedia articles, and links to experts across the globe. In most major cities of the United States, there are a variety of entrepreneurial organizations, and the majority of states have at least one angel group that is a member of the Angel Capital Association. So, $1 million might not be what it used to be for buying a house, but it sure goes a lot farther in making sophisticated investments. The question should be: At what income or net worth level should we as taxpayers be paying regulators to look out for those with fewer resources? It’s probably not millionaires at any level. But while what we have now is not a great solution, if it ain’t broke, don’t fix it.

Adjusting for inflation, the new level would be $2.3M. The legislation would leave the exact figure to the SEC to determine, and worse, allow it to change periodically. A moving target could create legal confusion and make the lawyers guiding these companies even more cautious. What happens if the level increases two years after a financing? Could the company be in trouble because prior investors are no longer “accredited?” Even if they were grandfathered, would they be excluded from participating in new rounds of financing, which often are critical for protecting an investment and generating a return?

The net effect would be to eliminate vast pools of capital from being available to invest in startups. While the exact amount of this reduction is unclear, various studies over the past decade, including the Kauffman Foundation’s Global Entrepreneurship Monitor and a study commissioned by the Small Business Administration, have suggested that a significant amount, and perhaps the majority of “angel” or “informal” investment in startup companies, comes from lower-net-worth individuals who might well fall under the new threshold. Worse, areas other than Silicon Valley, Boston, and New York are most likely to be hit hardest because they have a lower proportion of higher net worth individuals.

Passing the Buck to State Regulators. The second section noted above would delegate regulation of smaller private placements to the states. Imagine the resulting diverse regulatory landscape, with some states being more “friendly” and others more “onerous” to investors. Since regulators rarely see a regulation they don’t like, it is almost a guarantee that not only will the costs of compliance increase, the cost of any financing that crosses state lines will become even more expensive. This might not be a big issue when a company is raising millions of dollars, but it would be particularly expensive and painful for small rounds. There needs to be legal clarity about who is really in charge, and the SEC cannot just pass the buck when it does not want to be involved.

Companies raise money from many locales all the time. Angel groups in New England-including ours-and across the country actively syndicate deals across state lines. Rhode Island, New Hampshire, Vermont, and Maine are within a two-hour drive of my office and our portfolio companies, and many of them have investors from around New England, the country, and even the globe. Investment, simply put, is a matter of interstate commerce and is the jurisdiction of the Federal Government even more so than it ever has been.

Moving Ahead

Given the economic crisis of the past two years, we clearly need changes to our financial regulations to expose unknown risks and avoid undue ones in the public markets. We also need to be careful that those changes don’t have unintended consequences that cause more harm than good. Dodd’s bill has some bright ideas, but needs revisions to remove these sections and protect the entrepreneurs who will help create the jobs and fuel the growth that will get us out of today’s economic mess.

James Geshwiler is managing director of CommonAngels, one of the first formal venture capital investing networks and the largest angel group in the Northeast. CommonAngels is the lead investor in Xconomy.

The major movie studios may have lost their first battle over box-office futures trading, but they unveiled a powerful new weapon in response.

Financial reform legislation unveiled Friday by Sen. Blanche Lincoln, D-Ark., contains a provision that would ban futures trading based on box-office receipts.

Lincoln is chairman of the Senate Agriculture Committee, which has jurisdiction over futures markets.

The Motion Picture Assn. of America, joined by the National Association of Theatre Owners, the Directors Guild of America and the Independent Film and Television Alliance, issued a press release today trumpeting the provision and their support of the legislation. It was sent less than two hours after the Commodity Futures Trading Commission approved the creation of a market, from a company called Media Derivatives, intended for entertainment-related futures.

“As Congress moves forward with financial regulatory reform, we are very grateful to Chairman Lincoln for seeking to put a stop to plans to allow wagering on box-office futures, which are based on a faulty understanding of the film business and could cause real financial harm to both the film industry and other Americans drawn in by an online gaming platform that could be easily manipulated,” the groups said in a statement.

Robert Swagger, chief executive of Media Derivatives, said that instead of attempting to ban the markets, companies opposed to them should simply not participate and allow others to reduce the risk of investments in motion pictures by buying and selling futures contracts.

“This legislation is just to protect six large studios while smaller independents aren’t allowed to have this economic opportunity,” he said. “How can an exchange that helps to create liquidity be criticized when it is bringing in new money so entertainment can be created?”

In addition to the proposed legislation, the House Agriculture Committee will hold a hearing on box office futures next Thursday at which MPAA Chief Executive Bob Pisano and others from Hollywood are expected to testify, along with representatives for Media Derivatives and Cantor Fitzgerald, the company behind the other proposed box office market.

Cantor's market will be approved or denied by the CFTC by Tuesday.

– Ben Fritz

RELATED:

Box-office futures market gets key approval from government

Decision
on box-office futures markets delayed until next week

Hollywood
wants movie bets off the table

Investors
can soon make bets on movie box office

The Health Care Blog: Reputation versus quality: U.S. News …

Each year, US News and World Report publishes its list of the top 50 hospitals in various specialties (example here). Now, an article has been published suggesting that one aspect of the methodology used by the magazine is flawed. …

Bookninja » Blog Archive » News catchup

After two solid days spent in a fog-bound car on a moose-laden highway, I am finally back to a place from which I can blog. I am simultaneously relieved and disappointed. Here's some news I missed Monday and Tuesday: …

Your latest NFL Draft news, including Detroit Lions, Michigan …

NFL draft prospect, Tim Tebow speaks during a news conference at an event to promote the upcoming NFL football draft on Tuesday, April 20, 2010 in New York. AP photo. Quarterbacks Aaron Rodgers and Brady Quinn had some company while …

Apr
09
2010

slr reviews

We doubt you need too much reminding about Samsung's “hybrid DSLR” shooter — it's not every day you hear of a 14.6 megapixel APS-C sensor strapped inside a mirrorless body. Aiming to best Olympus and Panasonic at the game of tempting compact camera users up in price class and SLR image quality obsessives down in weight category, the NX10 is certainly an ambitious project. But does it succeed? According to dpreview, the control layout, user interface, ergonomics, and (crucially) image quality were all praiseworthy, though the sensor exhibited more noise than they would have liked and higher ISO images lost detail due to noise reducing algorithms. Photography Blog agreed that this camera is “an excellent first entry” into a developing market, and could only point out the proprietary NX lens mounting system and slightly bulkier dimensions than on Micro Four Thirds shooters as significant disadvantages. Check out the full reviews for some truly exhaustive analysis.

We've seen plenty of the headline 1080p / 30fps video mode on the Rebel T2i, but what's been missing till now are the equally comprehensive reviews of this new 18 megapixel shooter's other talents. Starting off with image quality — still the bread and butter of any DSLR — Camera Labs informs us that “the EOS 550D / T2i delivered images which were essentially the same as those from the EOS 7D,” describing them as highly detailed and exhibiting no greater noise than can be found on Nikon's 12 megapixel competitors. An impressive feat, you will agree. Further appreciation is meted out for the newly improved LCD screen on the back, whose 3:2 ratio matches the sensor's dimensions, but there's also warning that the 7D retains a significant advantage in terms of ergonomics, weatherproofing, continuous burst mode, and autofocus. Even so, both reviews were happy to pin their “highly recommended” badges on the T2i, and you can discover the more nuanced reasons for doing so at the source links below.

As each aspiring photographer knows, there are many types of equipment that exist that you need to wade through before you find the perfect camera and accessories. We are going to cover the basic list of items that you need this is not all-inclusive; some can be omitted depending upon what you want your camera for.

Item #1. Camera -This can range from the tiny point and shoot digital camera, up to the advanced semi-professional SLR models. The power and ability of your camera is only limited by your budget and willingness to pay for a great camera. If you are only interested in snapshots, you can easily purchase a great digital camera that is capable of taking 6MP or much higher for a reasonable price. By carefully selecting your camera to fit your needs you will enjoy your purchase for many years. One important thing to remember, there is a massive difference between optical zoom, and digital zoom. Some low-end digital cameras do not have optical zoom, however for far distances optical zoom will provide you with a much clearer photograph. Digital zoom, will take your “still” picture and enhance it digitally, instead of using lenses as optical zoom does. This can results in blur, and fuzzy pictures depending upon the mega pixel size of the camera, as well as how far away the item is.

Item #2. Camera Bag -There are few things are essential in photography as a good camera bag. This along with your camera is not somewhere you want to scrimp and save a few bucks on cheap materials. Your camera bag will be your lifeline for your camera. The bag should be big enough to comfortably hold your camera, film, batteries, and extra lenses if it has additional lenses and any other accessories that need to stay close to the camera. You want to make sure the bag you purchase closes securely so nothing accidentally falls out. In addition, a very thick layer of cushion and padding is needed to cradle the camera and protect it from shock. Some camera bags are also large enough to hold a tripod; however, these are typically much larger. While a good-sized camera bag is essential, you do not want the bag to be so big that you avoid taking it with you when you use the camera.

Item #3. Additional Batteries -This is something more for the photographer who cannot stop taking pictures. Whether it is a rechargeable battery, or normal disposable batteries having extra batteries along is always helpful. You never know when the opportunity to take dozens or even hundreds of great pictures will present itself. Having extra batteries will ensure you can continue taking the great shots you want. If the battery is rechargeable, search about for a quality backup, it is not always necessary to purchase the spare from the camera manufacture, however the quality will typically be higher from the camera manufacture, as well as a much higher price.

Item #4. Lens Hood -If you are using a high-powered camera or even a small point and shoot and you have the ability to get a lens hood they can be wonderful accessories. They are small, lightweight and help remove the glare from the camera lens that bright light creates. The use of a lens hood can often salvage a picture that would have otherwise been destroyed due to the amount of light hitting the lens.

Item #5. Film/Media -Depending upon whether you have purchased a film camera, or a digital camera will determine whether you need a memory card, or a roll of film. In today's emerging technology, digital cameras are in high demand delivering great pictures that rival professional photographs. If your camera is digital you need to make sure, your memory card fits the camera you have purchased, each manufacture has a different media format they use, many photo printers also have the ability to hold these memory cards and transfer the pictures to your computer which gives you greater flexibility. If you are using film, you need to search for the best film speed for your particular situation depending upon the subject you are photographing, as well as the conditions of the area you are photographing.

As you can see the list of items for a camera purchase is not massive, however with some basic supplies you will be quite happy with your purchases. Due to the expense and variations on the market always take the time to thoroughly do reviews of your desired item to find the best match for your budget, as well as ensure that the component will do what you want it to do.

bgrnillm bobby ferguson detroit
bgrnillm bobby ferguson detroit
dynrhgni bobby ferguson detroit
eyfrtvcz bobby ferguson detroit
jfrwdrur bobby ferguson detroit
eyfrtvcz bobby ferguson detroit
drqsvhha bobby ferguson detroit
hydngaix bobby ferguson detroit
azbzvrar bobby ferguson detroit
bcvssvee bobby ferguson detroit
ckcjjnum bobby ferguson detroit
hydngaix bobby ferguson detroit
wgaecwqq bobby ferguson detroit
kotswjws bobby ferguson detroit
ckcjjnum bobby ferguson detroit
uukozyod bobby ferguson detroit
jolkmbfw bobby ferguson detroit
drqsvhha bobby ferguson detroit
izgconmk

Written by empfehll in: Uncategorized | Tags: online stock trading and investments

Apr
09
2010

how to manage personal finances

In an exciting but frightening transition from our desktops to a more virtualized way of handling our files and programs, Tonido seems to be the beautiful compromise between the two.

It allows you all the flexibility of having your documents and files accessible from anywhere via a URL you create, with the security of having them still stored safely in your computer or external harddrive. The Tonido website, is a cloud-based gateway where you create an account which will then allow you to access all of the files on your Windows, Mac or Linux computer from anywhere, even some phones, and use all of the features they have installed on their cloud.

This week, we will be giving away 20 WebShare Pro licenses and 4 Tonido Plugs, worth $700 in total. Find out how you can win one!

Some of the features of Tonido include:

The Tonido Workspace, which allows you to manage your calendar, contacts, tasks and files from anywhere.
One Click Webshare and Tonido Photos, which allow you to share your files (even very large ones) with family and friends or create photo albums open to the public. All of the sharing can be done with one single click, which creates the URL, allows you to choose who can see it, or if it will be public to anyone and view the history (who has seen the files).
It even allows you to set a date for the shares to expire, which means you can set the files to only be available for a certain period of time.

No more concerns about how to email that large file to your co-worker or how to send grandma the new video of Johnny taking his first steps without having to upload it to some public site.
A Jukebox, so you can stream all of your music from any computer or from your phone.

Luke Knowles is the founder of numerous money-saving websites including Coupon Sherpa, Gift Card Granny and Mr. Free Stuff. In 2008 Luke founded Free Shipping Day, now a red-letter discount date for online holiday shopping.

Despite a recession allegedly in our rear view mirror, frugality remains a hot, dare I say trendy topic. Nowhere is that more evident than in the often expensive world of consumer tech. Those of you currently debating that iPad purchase know just what I mean. But remember, a one-time splurge could pay dividends in the long run if you do your homework.

Take Steve Jobs’ previous technological wonder. The iPhoneiPhone’s price tag might seem hefty, but just a cursory review of its money-saving potential might prove tempting to even the most fiscally conservative. Here are ten of our favorite apps for the frugal-focused.

Finances

The first step to saving money is learning how to handle it. Depending on your needs, there are literally hundreds of apps to help you manage your money, track expenses and pay bills. You can use your iPhone to make late fees and overdrafts a thing of the past.

1. Quicken
Existing Quicken users as well as newbies will no doubt find this simple but handy app the ideal way to check financial accounts on the go. Track your financial goals, monitor account activity and even find an ATM.

Cost: Free
2. BillMinder
One of the most popular bill tracking apps out there, the interface is simple, sleek and easy to use. Plus, you can back up your data and export via e-mail for added peace of mind. Enable push notifications to make sure you never miss a due date.

Cost: $1.99

Shopping

Once you’ve got your accounts balanced, it might be time to start spending (wisely). But a note to the coupon clippers: Now you can leave that Sunday circular at home.

3. Coupon SherpaCoupon Sherpa
Coupon Sherpa offers both in-store coupons (just show the entry at checkout) as well as exclusive deals just for users. You can search by category or store name, locate merchants closest to you, and even e-mail coupons to your friends. (Disclosure: the author is the founder of Coupon Sherpa.)

Also check out Yowza!! Mobile Coupons and Coupon Cabin.

Cost: Free
4. Grocery Gadget Shopping List
Scribbling down grocery lists is so 2006. Meticulous shoppers can now download apps to manage their grocery needs, ensuring every discounted item is accounted for. This one allows users to upload and share lists while offering additional frugal options like price comparisons and coupons.

Cost: $4.99

Food & Drink

The recession has taught even the most sociable among us the value of eating in. These apps can make it cheap, and relatively pain-free for even the most amateur of gourmets.

5. AllRecipes.com Dinner Spinner
A godsend for foodies. Spun off from the hugely popular website, it offers quick access to thousands of recipes complete with directions, photos and user reviews. Try the “spinner” and find yourself a new favorite dish. Tips not required.

Cost: Free
6. Mixology
Instead of fighting the crowds for a $14 martini, home-based mixologists can entertain friends hassle-free. Mixology features 7900+ recipes and a fun “liquor cabinet” feature to manage your whole inventory. Charge a cover at your next shindig, and you’re back in the black!

Cost: Free

Travel

Whether you drive, fly, ride the rails or hail a cab, just getting around can cost a pretty penny. Luckily there are a number of apps to help keep prices (and aggravation) down.

7. Maps
The only native app (though based on Google MapsGoogle Maps) on our list is a no-brainer for anyone who relies on public transportation. Integrating directions, schedules, traffic and more into this mega-app, you’ll find the closest, fastest, and most importantly cheapest route with ease.

Cost: Free
8. Gas Buddy
Drivers can use this to find the cheapest filling stations nationwide. With prices varying as much as 20% (even in the same city) this could mean big savings. Get distance, directions and time estimates to each location. Just stay off that phone when you’re behind the wheel!

Cost: $2.99

Communications

Since the iPhone is, after all, a phone, we should point out some ways to offset that monthly service fee. Chatterboxes, take note.

9. TextFree Unlimited
This is an interesting option for those looking to completely eliminate a portion of their monthly phone bill. Be aware, this app must be open in order to receive a text, and certain features from the native iPhone version are unavailable. For light users, though, this could be a good alternative.

Cost: $5.99
10. SkypeSkype
Already a popular desktop application for placing worldwide voice calls over the Internet, now Skype has an iPhone app that many feel delivers an even clearer connection. Calls between Skype users are free, and peanuts to landlines or cell phones. If you have international friends and family, this could save you a bundle.

Cost: Free

For more mobile coverage, follow Mashable Mobile on TwitterTwitter or become a fan on FacebookFacebook

More iPhone resources from Mashable:

- 3 Useful iPhone Apps to Help File Your Taxes
- 10 Essential iPhone Apps for Runners
- 10 Best iPhone Apps for Dog Lovers
- 10 Fun iPhone Apps for Beer Lovers
- Mashable’s New iPhone App: Download Today!

Image courtesy of iStockphotoiStockphoto, THEPALMER

Written by empfehll in: Uncategorized | Tags: online stock trading and investments

Mar
01
2010

budgeting personal finances

If you want to take control of your life, there are certain areas that require persistent tracking. In order to track your life and make appropriate changes, you need to know what’s going on and to do that you need to track what’s going on.

Some people need to get a handle on their time (tools to track time wasted online). Others need to better control their finances (tools for tracking expenses and budgeting). There are also other resources that other people need to track. These days there are tools that help in this task of tracking life’s intricacies but many of them are too complex for the needs of the everyday person. We need something simple that we’ll actually learn and use for it to be a help.

That is why I would like to introduce you to a new start up you can use to track your life called 1DayLater. The creators of 1DayLater originally started the project to help them track their valuable time as freelancers. It turned out to be a tool simple enough that anyone can use and benefit from.

In my opinion a useful tool has two attributes : usability and benefit. Let me show you how 1DayLater fits both of those attributes when it comes to tracking life.

Signing Up & Registering Is Virtually Painless!

The easier a website makes signing up and registering the better. Obviously they should take security precautions but when they make it so complicated that you need to consult a help file or forums just to figure out how to register, they need to back off a bit. 1DayLater made the process a cinch by asking only the basics (there’s also a line for your phone number but it’s only optional).

Signing In Is A Cinch!

Once again, going with the “easier is better” philosophy, 1DayLater hits the nail on the proverbial head with the login process! Email-password, bing! You’re in!

Track Your Life With a Log!

Once logged in you are faced with the opportunity to begin logging your life! To begin with, you can start logging your time by hitting the “start timer” button. When you stop the timer, the time is automatically entered into the “value” field which can tell what kind of measurement you are trying to log. You can also manually enter measurements into this field. You can log measurements such as time, money and mileage. Then you can tag the lot with a label in the “project/client” field and add the date and a note to finish off the log. It’s all pretty straight forward.

Glance At Your Latest Activities

As you log your life, you can get a quick look at the activities you are logging. They are sorted by date and project / client tag (which you can assign your own colors to in order to have a visual to keep them separate here and in the charts in the analysis area). Here you also have the ability to edit the logs and delete them altogether. Very handy!

A Visual Analysis Of Your Life

There is also a nifty chart showing off time spent on different projects. This could be key to getting an overall idea of where your time is going. I didn’t see charts for mileage or money so I personally hope they are also incorporated too.

The Future Of 1DayLater COULD Be In Your Hands!

All I am saying is that they are a new start up and are working hard on new features! For instance, they have released the ability to export data into a spreadsheet and are working out the bugs there. They are also working on the ability to output to invoices and mileage claims as well as some apps. As a new start up, they have been smart enough to offer a feedback forum to share what you would like to see them develop and a voting system to vote on other people’s ideas using Uservoice.

Right now 1DayLater is free but in the future there may be some features that will not be.

Let us know what you think about 1DayLater as a new start up. Also, how do you track your life?

Once You Reach Your Financial Security Goals, What's Next?

Wise budgeting, spending, and saving will help you build a retirement fund and meet your other financial goals, but what happens then? Finance blog Get Rich Slowly takes a look at what to do once you've feathered your financial nest.

Photo by pfala.

At 26 years old, entrepreneur Erica Douglass found herself in the enviable position of having a surplus of cash after selling her online business. Once she established a retirement fund and paid off debt, Douglass had to figure out what to do with the income that continued to roll in from her new business venture.

Rather than blow tons of cash on impulsive purchases just because she can, Douglass limits most spending to things that allow her to live a more fulfilled life. For instance, instead of buying a new car every year, Douglass employs a personal chef to make dishes that make living with an autoimmune illness easier.

It has been more than two years since I sold my business, and I am happier than I have ever been. I made different choices than most: We rent a house instead of owning (a savings of nearly $4,000/month in our neighborhood - more than our monthly rent payment!); we only have basic cable; we don't have a landline, credit card debt, car payments, or student loans.

I chose, instead of buying more Stuff, to live a more fulfilled life. For me, even more important than holding onto my money tightly was to learn to let it go - to give it to others in exchange for work well done, and to trust that they could do tasks well. It's one of the best decisions I've ever made.

Though most of us aren't able to afford the luxuries of a personal chef or full-time housekeeper, Douglass makes an interesting point. If you have a surplus of cash left over after paying your bills and adding to your savings each month, maybe blowing it on a fancy dinner or a new electronic gadget isn't worth it in the long run. Instead, consider spending it on something that adds to your overall quality of life—like an accountant to do your taxes, or commercial productivity software that will help you more easily manage all your work tasks.

What would you do if you had a batch of extra cash to spend as you wanted? Would you hire a personal assistant to deal with all the chores you don't like, or blow it on something frivolous like good cognac or a box of truffles? Talk about it in the comments.

http://removeripoffreports.net

Written by empfehll in: Uncategorized | Tags: online stock trading and investments

Mar
01
2010

personal finance money management

Written by empfehll in: Uncategorized | Tags: online stock trading and investments

Feb
28
2010

budgeting personal finances

In my opinion a useful tool has two attributes : usability and benefit. Let me show you how 1DayLater fits both of those attributes when it comes to tracking life.

Signing Up & Registering Is Virtually Painless!

Signing In Is A Cinch!

Once again, going with the “easier is better” philosophy, 1DayLater hits the nail on the proverbial head with the login process! Email-password, bing! You’re in!

Track Your Life With a Log!

Glance At Your Latest Activities

A Visual Analysis Of Your Life

The Future Of 1DayLater COULD Be In Your Hands!

Right now 1DayLater is free but in the future there may be some features that will not be.

Let us know what you think about 1DayLater as a new start up. Also, how do you track your life?

Once You Reach Your Financial Security Goals, What's Next?

Photo by pfala.

It has been more than two years since I sold my business, and I am happier than I have ever been. I made different choices than most: We rent a house instead of owning (a savings of nearly $4,000/month in our neighborhood - more than our monthly rent payment!); we only have basic cable; we don't have a landline, credit card debt, car payments, or student loans.

I chose, instead of buying more Stuff, to live a more fulfilled life. For me, even more important than holding onto my money tightly was to learn to let it go - to give it to others in exchange for work well done, and to trust that they could do tasks well. It's one of the best decisions I've ever made.

http://removeripoffreports.net

Written by empfehll in: Uncategorized | Tags: online stock trading and investments

Feb
10
2010

personal finance programs

At the Millennium Summit in September of 2000, 189 nations adopted the Millennium Development Goals (MDGs) as drawn from the Millennium Declaration. Achievement of these goals is set to be reached in 2015 as a response to the world's main development challenges (UN Millennium Development Goals, 2000). The goals are: 1 - to eradicate extreme poverty and hunger, 2 - achieve universal primary education, 3 - promote gender equality and empower women, 4 - reduce child mortality, 5 - improve maternal health, 6 - combat HIV/AIDS, malaria and other diseases, 7 - ensure environmental sustainability, and 8 - develop global partnership for development. Achieving 100% success of these goals is no small task, with extreme poverty at the root of many of these issues. According to the United Nations statistic sheet for Goal 1, World Bank estimates the number of people living in extreme poverty at 1.4 billion people. Poverty rates have fallen though, from 52% in 1981 to 26% in 2005, with East Asia experiencing the greatest diminishment from 80% to 20%, but with sub-Saharan Africa remaining at 50% of the population around the poverty line (UN Millennium Goals Fact Sheet, 2008).

What then is the best way to reduce the number of people below the poverty line, especially in the areas of the world that continue to struggle? One solution has been to expand programs offering micro finance. Since the early 1980s, micro finance has been used to address development issues. The focus is on small scale transactions of credit and savings to assist small to medium sized businesses (Khandker, 2003, p. 1). Micro Finance Institutions (MFIs) can be run with regular banks (private or government run), or run by financial intermediaries such as non-government organizations (NGOs) with areas of expertise not directly linked to banking (Mwenda & Muuka, 2004, p. 145). With women primarily participating in these programs, they have been able to establish businesses which generate income, establish support networks for improved healthcare and improve education UN Millennium Goals Fact Sheet, 2008). This paper looks at several country-specific examples of micro finance and how the MDGs are being addressed by this tactic and also evaluating which strategies have been most successful.

India

In the case of India, the country's banking system has taken on the role of managing a micro-loan program. In this specific system, disadvantaged members of developing communities are granted access to financing aimed at lifting them from poverty. No collateral is required, but individuals must form Self-Help Groups (SHGs) which are primarily made up women (Edward & Olson, 2006, p. 32). The theory is that each member of the SHG will keep the other members on target for repayment, as only good repayment history will result in future loans. This system of member reliability reduces, for the lender, the costs of chasing bad debts and accruing losses from write-offs (Edward & Olson, 2006, p. 33).

The justification of lending primarily to women is based on two factors of gender bias. The first being that women are generally understood to be more financially reliable than men, and are also more likely to use money for the benefit of their family. Women also put a high value on their honor and therefore are less likely to default on personal loans (Edward & Olson, 2006, p. 33). Women are encouraged to participate in the financial process because they are perceived to be doubly oppressed, both by poverty and their gender. Through the collective success of the group, women can experience empowerment in the established social structure of India (Edward & Olson, 2006, p. 34). Women are further empowered by having access to their SHG savings. They no longer require lines of credit from wealthy farmers or traditional money lenders, and feel empowered to demand an increase in their wages. SHG members are able to increase their knowledge of financial matters for their own gain (Edward & Olson, 2006, p. 42-43). Through entrepreneurial activities, SGH members are able to lift themselves from poverty, find empowerment and lead their countries towards development.

Sub-Saharan Africa

As a continent, Africa's challenges are most prominent in the MDGs. Approximately 70% of Africa's population and 80% of the cotenant's poor live in rural areas. More than any other region, Africa's poor can benefit from increased incomes and purchasing power (Mwenda & Muuka, 2004, p. 143). Exacerbating the poverty problem is the debilitating influence of HIV/AIDS in the region. Those who suffer from HIV/AIDS are unable to cultivate food and bring themselves out of poverty demonstrating that agricultural growth dramatically affects poverty (Mwenda & Muuka, 2004, p. 144). It is obvious then that the most efficient way of bringing up the region development would be through improved strategies for agriculture.

In Kenneth Kaoma Mwenda and Gerry Nkombo Muuka's article, Towards best practices for micro finance institutional engagement in African rural areas (2004), the authors report on instances of micro finance in Zambia and Mali. Each case study demonstrates how micro finance enterprises are helping to alleviate poverty and address issues of hunger and women's empowerment, all areas listed in the MDGs.

In Zambia, The Cooperative League of the United States of America (CLUSA) has been managing a program on behalf of the Agency for International Development (USAID) (Mwenda & Muuka, 2004, p. 147). It is a small-scale outgrower scheme which helps small-scale farmers to access inputs and credit facilities and allows them to access a reliable market for produce. This is an important change for farmers, as they were previously unable to access credit from commercial banks for such small amounts, and the agricultural bonus for the communities is that the crops promoted for growth are approved by the CLUSA as staple foods. The farmers are offered training, conservation techniques and marketing advice throughout the farming season (Mwenda & Muuka, 2004, p. 148).

Mali's Freedom from Hunger Project changed in 1996 when it joined with two commercial micro finance credit unions in Mali, Nyesigiso and Kafo Jiginew. The Freedom from Hunger field workers help teach women's groups to create and manage their own Credit Associations. The MFI in turn gave the group a loan for which they were jointly liable. The group divided the loan between them based on need, and all were asked to repay the amount within 16 weeks (Mwenda & Muuka, 2004, p 149). Upon prompt repayment with interest, the group was eligible for another larger loan. The advantage of this is that women's entrepreneurial enterprises could prosper and savings were generally put back into each family to pay for food, medicine and schooling (Mwenda & Muuka, 2004, p 149).

In both of these cases, the micro finance systems were effective because they were simple to operate, had transparent systems, were flexible, used local available skills and utilized human capital which created local employment. (Mwenda & Muuka, 2004, p. 154). They targeted women for empowerment, and addressed issues surrounding poverty and hunger with development through agriculture.

Indonesia

After achieving independence in 1946, the Indonesian government formed five commercial banks. Bank Rakayat Indonesia (BRI) was formed in 1950 after a merger of two older banks which focused on credit and savings for the middle class (Hartungi, 2007, p. 389). In the 1970s, BRI unit desa (village units) were created to give small increments of credit to farmers who participated in the government sponsored agricultural development program called BMIS. The goal was to increase the reach of national self-sufficiency on rice production by granting subsidized credit to farmers to purchase fertilizer and pesticides (Hartungi, 2007, p. 390). As further growth and to promote viability of the program, BRI rolled out two additional programs, KUPEDES - a multi purpose rural credit program and SIMPEDES - a village savings program (Hartungi, 2007, p. 390). The growth to the bank from these programs made BRI one of the largest banks in Indonesia with 325 braches and 3,6000 BRI unit desa. Today the BRI unit desa program targets even smaller low income groups which operate small businesses in rural areas. The emphasis in on savings programs and demonstrating that all households can have access to safe liquid savings accounts (Hartungi, 2007, p.391).

BRI and BRI unit desa have won acclaim as a major success in micro-finance (Hartungi, 2007, p. 392). Rusdy Hartungi says there are several factors that have made this program so successful. BRI was given autonomy in the government to operate as a fully commercial institution, setting its own interest rates and project development. They also used a new idea in relation to collateral on loans. Staff screeners require borrowers to present some sort of physical capital in order to qualify for a loan. In order to reach the lower classes, land title, bikes, cars and similar items could be used for this purpose (Hartungi, 2007, p. 394). BRI also offered its staff training and incentives, ensuring they would stay with the bank. They were offered bonuses based on how their specific unit desa performed (Hartungi, 2007, p. 395). One of the biggest advantages to BRI and BRI unit desa was their ability to adapt to changing environments in terms of services and products offered in changing financial climates (Hartungi, 2007, p. 397).

Bangladesh

By far the most famous of all micro finance institutions in the developing world is that of the Grameen Bank in Bangladesh. Beginning in 1976 as an experimental project and reaching the status of a formal financial institution in 1983, the Grameen Bank started by providing small loans to individuals who owned no more than half and acre of land or assets exceeding the value of one acre of medium quality cultivable land. It has also provided investment advice on maximizing the profitability of the loan (Wahid, 1994, p. 1-2).

Today, the Grameen Bank operates on the idea that credit, under certain circumstances, can generate savings, stemming from the Baker-Hopkins credit model (Wahid, 1994, p. 3). According to that model, as long as the return on assets is larger than the interest on the loan, the income of the household would increase. This system was not previously an option for the very poorest in the community, as they did not have access to collateral to obtain credit from traditional banks. The solution for the Grameen Bank was the institution of a peer monitoring system. The theory was that if loans were taken out in groups, and the group members would monitor the behavior of one another, thus the recovery rate would increase even without collateral. In theory, the group would be motivated by this, because if one individual failed to make repayments on time, the rest of the group would become ineligible for future loans (Wahid, 1994, p. 3-4). Women were sought out to participate in the program, as they were perceived as being more likely to repay the loans, and it was found that credit provided to women directed helped the household, including the health of children, where providing credit to men did not have a similar effect (Pitt, Khandker & Cartwright, 2006, p. 791.). Today the Grameen Bank boasts a 98% repayment rate.

The micro credit enterprises also had spillover benefits on the members and communities beyond simply individual savings. The growth and expansion of the Grameen Bank and its micro enterprises into other communities is labor intensive requiring human capital and fostering job development. For Bangladesh, an unemployed and underemployed labor force in the rural economy was a pressing issue to the alleviation of poverty (Wahid, 1994, p. 2). A study of people who participated in the Grameen Bank noted that those who did, had more man-days of work than before they joined and also found it easier to locate available jobs (Wahid, 1994, p. 5). Another study noted that farmers who participated in the Grameen Bank programs were able to allocate more land for the cultivation of high-yielding crops. This was attributed to the Grameen Bank's providing of financing for irrigation and pesticides which would have otherwise been out of the reach of the farmers previously (Wahid, 1994, p 6). Nutrition for members was also affected. In a sample study conducted by the Institute of Food and Nutrition of Dhaka University in 1986 it was found that while non Grameen Bank members consumed 789 grams per day and a Grameen Bank member consumed and advantageous 857 grams per day (Wahid, 1994, p. 10).

For women, these benefits were even more pronounced and led to empowerment in Bangladesh. Access to the credit programs gave women greater influence over household decisions and in negotiations with their spouses. They gained access to new financial and economic resources, strengthened their social networks and found they had greater mobility within the society. Involvement in these groups has also had a positive effect on women's ability to discuss child rearing and family planning issues with their spouses (Pitt, Khandker & Cartwright, 2006, p. 817).

According to Abu N. M. Wahid, author of The Grameen Bank and Poverty Alleviation in Bangladesh: Theory, Evidence and Limitations (1994), the Grameen Bank did suffered from a few problem areas. By comparing and contrasting his mention of problem areas of that time with statistics from the Grameen Bank today, we can see why the Bank has succeeded and why its founder, Muhammad Yunus, won the Nobel Peace Prize in 2006.

In 1986, the Bank was making a modest economic profit because of its relatively small size, but as the bank grew, it began to lose. The loss was based on the door to door service provided to its borrowers by the Bank's staff (Wahid, 1994, p. 11). In 1992 the Bank changed its interest rate policy and increased the rate. This rate remains today and is still lower than the government rate, allowing the Grameen bank to remain profitable (Grameen Bank at a Glance, 2008).

Wahid also noted that the Grameen Bank received substantial donor money, demonstrating that it was not an independent and viable bank (1994, p. 12). Today, the Grameen Bank no longer depends on donor money, and has not received any since 1998. The Grameen Bank states that the growing number of deposits from members would be more than enough to expand its current programs and repay any existing loans ((Grameen Bank at a Glance, 2008).

The third problem that Wahid hypothesized would be the struggle to keep the field staff motivated. They regularly put in more hours than they were paid for and refused bribes from their clients, contrary to other government run organizations. Wahid speculated that as the bank grows, opportunities and satisfaction among the staff could decrease (1994, p. 12-13). The Bank's response was to offer a retirement program for its staff, where they may retire after 10 years of service with a cash payment. The Bank also runs a “Stars for Achievement” programs for branches and staff, setting store and personal goals for service (Grameen Bank at a Glance, 2008).

Beyond addressing past problems, the Grameen Bank has also instituted new programs to help its members, including offering a program for beggars to become members, offering housing loans, scholarships, educational loans, life insurance and pension programs for borrowers. The Bank even has a program beyond banking which encourages members to participate in their local government, including elections (Grameen Bank at a Glance, 2008).

The Future of Micro Finance and Conclusions

Grameen Bank is cited as one of the most successful micro finance enterprises and is used as a benchmark for other similar programs. The other examples mentioned above are also successful in their own ways at trying to address the issues of poverty, hunger and the empowerment of women. Studies agree that micro finance programs can be beneficial, but everyone is affected differently. Women particularly see the most benefit in the areas of employment, income generation and social interactions (Khandker, 2003, p. 3). Research undertaken by the Bangladesh Institute of Development Studies and the World Bank show that beyond those stated benefits for women, micro-finance programs promote investment in schooling, increase women's awareness of reproductive health, and the acquiring of power in household decision making (Khandker, 2003, p. 4). This shows that microfinance is a valuable tool in addressing many aspects of the Millennium Development Goals.

Even with all of this positive news, there is still much that needs to be done. Poverty levels, especially in Sub-Saharan Africa are still alarmingly high. Micro loans are not the sole answer on these issues, but they are a stepping stone in the right direction of helping address poverty, hunger and women's empowerment.

References

Edward, P., & Olsen, W. (2006). Paradigms and Reality in Micro-
Finance: The Indian Case. Perspectives on Global Development
and Technology, Vol. 5., Iss. 1-2. 31-54.

Grameen Bank. Grameen Bank at a Glance August, 2008. Retrieved
from http://www.grameen-info.org

Hartungi, R. (2007). Understanding the Success Factors of Micro-
Finance Institution in a Developing Country. International
Journal of Social Economics, Vol. 34, No. 6. 388-401.

Khandker, S. (2003). Micro-Finance and Poverty: Evidence Using
Panel Data from Bangladesh. The World Bank Development
Research Group. 1-22.

Mwenda, K., & Muuka, G. (2004). Towards Best Practices for Micro
Finance Instutiional Engagement in African Rural Areas:
Selected Cases and Agenda for Action. International Journal of
Social Economics, Vol. 31, No, 1/2. 143-158.

Pitt, M., Khander, S., & Cartwright, J. (2006). Empowering Women
with Micro Finance: Evidence from Bangladesh. Economic
Development and Cultural Change, Vol. 54, Iss. 4. 791-831.

United Nations. End Poverty 2015 Millennium Development Goals: Fact
Sheet. Retrieved from http://www.un.org/milleniumgoals.

United Nations Development Programme. Millennium Development Goals.
Retrieved from http://www.undp.prg/mdg/basics.shtml

Wahid, N. (1994). The Grameen Bank and Poverty Alleviation in
Bangladesh: Theory, Evidence and Limitations. American Journal
of Economies and Sociologiy, Vol. 53, No. 1. 1-15.

AMERICAblog News: The Hill: 'Cracks are beginning to show in …

News and opinion about US politics from a liberal perspective.

New Elecom memory card readers with support for SDXC 64 GB …

The rest of the news. 2/10 > Sanyo add 5 new colors to its CY-SPA226A Eneloop Bike. 2/10 > Panasonic unleash in Japan the World's first 1080/60p compact Camcorder, the HDC-TM700. 2/10 > O.T… I love my Job. 2/9 > New Elecom memory card …

Warner sees slower sales growth after pricing change | iLounge News

If you have a comment, news tip, advertising inquiry, or coverage request, a question about iPods/iPhones/iPad or accessories, or if you sell or market iPod/iPhone/iPad products or services, read iLounge's Comments + Questions policies …

AMERICAblog News: The Hill: 'Cracks are beginning to show in …

News and opinion about US politics from a liberal perspective.

New Elecom memory card readers with support for SDXC 64 GB …

Warner sees slower sales growth after pricing change | iLounge News

AMERICAblog News: The Hill: 'Cracks are beginning to show in …

News and opinion about US politics from a liberal perspective.

New Elecom memory card readers with support for SDXC 64 GB …

Warner sees slower sales growth after pricing change | iLounge News

Written by empfehll in: Uncategorized | Tags: online stock trading and investments

Feb
09
2010

personal finance programs

US Senator Threatens Uganda With Trade Sanctions

Jim Burroway

January 12th, 2010

Sen. Ron Wyden (D-OR), who chairs the Senate finance Committee’s subcommittee on International Trade, Customs and Global Competitiveness, has released a statement threatening Uganda with trade sanctions if that nation proceeds with passing the wide-ranging and draconian Anti-Homosexuality Bill.

In a letter to Secretary of State Hillary Clinton and US Trade Representative Ron Kirk, Sen. Wyden warns:

As you know, Uganda is a beneficiary of the African Growth and Opportunity Act (AGOA), which was signed in to law in 2000. AGOA provides duty-free treatment to imports originating from beneficiary African countries. Beneficiaries of AGOA must meet certain eligibility criteria, one of which is to not engage in “gross violations of internationally recognized human rights,” and the jurisprudence in the area of international human rights supports respect of sexual orientation and gender identity as human rights. I strongly urge you to communicate immediately to the Ugandan government, and President Yoweri Museveni directly, that Uganda’s beneficiary status under AGOA will be revoked should the proposed legislation be enacted.

Sen. Wyden promises to sponsor legislation to amend America’s trade preference programs “to make clear that failure to appropriately respect sexual orientation and gender identity as human rights shall preclude a country from benefitting from any U.S. trade preference scheme.”

Click here to see BTB’s complete coverage of the past year’s anti-gay developments in Uganda.

Whole Foods Markets (WFMI) CEO John Mackey (pictured), unsurprisingly, is passionate about health. Leading the country's largest and most respected chain of natural groceries, he's often credited with bringing natural-foods stores to the mainstream. On a personal note, he has been a vegan for many years and has adopted a diet free of vegetable oils, sugars and almost any processed food. So when he launched a plan to give his employees discounts on health insurance if they maintained lower readings for blood pressure, cholesterol and body mass index, it should have barely made a blip in the annals of corporate wellness.

But Mackey's plan is drawing fire, in part because his wellness program, some charge, comes off as heavy-handed and focuses too much on what have been called “arbitrary” measures such as body mass index (BMI) — or essentially how fat we are. Others say the plan is taking criticism simply because of Mackey's outspokenness on health.

Most famously, he wrote an op-ed blasting the U.S. health care reform effort in The Wall Street Journal in August, 2009. In the piece, he called the reform bill “Obamacare” and “a massive new health care entitlement.” He suggested the government instead adopt a series of reforms designed to encourage companies to provide health care for their employees. Among them, he suggested tax-free status for all health care premiums, fewer coverage mandates and other changes.

Finally, he said government should make it easy for taxpayers to give money to charities to cover the uninsured. In conclusion, he wrote, “We are all responsible for our own lives and our own health. We should … use our freedom to make wise lifestyle choices that will protect our health.”

Employee Biometric Screenings

Mackey's new health insurance discounts — in his words “empowering and fun for employees who enjoy a challenge” — fit right in with his corporation-knows-best attitude. Those who want to take part can undergo biometric screening, which will determine what discount level they'll receive: Bronze, silver, gold or platinum. The maximum discount is 30%, and to qualify, employees must have a BMI of less than 24, cholesterol levels below 150 mg/dL and blood pressure of 110/70.

Those with a BMI over 30 would not qualify for the program at all. They would, of course, still be eligible for health insurance — just without an extra discount. The bronze level provides a 22% discount.

For any other CEO, these initiatives might have passed with little notice. Corporate wellness programs have become a given, with discounts on gym memberships and cheery marketing for healthy options in corporate cafeterias. Many company executives have made news with far more shocking employee health tactics, including weight-loss contests and quit-smoking support groups. A few have even refused employment to smokers and told existing employees to quit, or lose a job.

The Peacock CEO

By comparison, Mackey's moves hardly seem controversial. But this is Mackey, the rare peacock of a CEO. His outsize personality, so politically at odds with the majority of his customer base, doesn't just invite, but begs, response from liberal media outlets. So they seize on the news, spinning it into the controversy they expect from a man like Mackey. The Village Voice headline proclaims, “Whole Foods' John Mackey Finds a New Way to Antagonize Customers,” pointing out, “the National Association to Advance Fat Acceptance is not amused.”

At The Big Money, Dan Mitchell doesn't like the plan, calling the choice of BMI, blood pressure and cholesterol “arbitrary,” a bad way to measure overall health. He worries that “the inevitable conclusion from this: Whole Foods theoretically would give discounts to near-death anorexics, who would be judged 'healthier' than their larger counterparts.” He suggests Whole Foods provide a discount for healthy grocery items for all employees.

Judging from the details of the Whole Foods wellness program, Mackey, it seems, knows best which lifestyle choices are good for health. What he doesn't know so well, is how to communicate his wisdom to the sort of person who's likely to work for, or shop at, Whole Foods. He once famously criticized his own company's stores for selling “junk food,” for instance, getting a lot of flak from his stakeholders.

Boycotts and “Buycotts”

Mackey was also surprised by the firestorm kicked up by his op-ed criticizing the reform effort in the Journal. In reaction, groups of liberal and conservative Whole Foods shoppers staged simultaneous boycotts and “buycotts,” which had no discernible effect on Whole Foods sales, but had a quite far-reaching effect on the talking points of conservative pundits in the first few weeks of September 2009.

Michelle Malkin, for instance, encouraged her readers to “buy a few Whole Foods items” in order to stand up for Mackey's opposition for health care, “I think it's worth it.” Malkin isn't, however, the prototypical Whole Foods shopper, nor, for that matter, the prototypical employee.

This is a company that encourages the sort of autonomous, bottom-up store organization that would seem more at home in the Socialist Party than the Republican Party. Lower-level employees help select and evaluate their bosses, even having a say on the store's product mix. Mackey pays himself a dollar a year. No executive makes more than 19 times the average employee's wage of $16.50 an hour.

“Right-Wing Hippie”

On the other hand? Mackey is as far from the left as you can get. He believes that corporations — and not governments or nonprofits — are the best way to provide for the well-being of the people. Companies should make enormous profits to put them to use for the betterment of humanity, he believes.

Says Nick Paumgarten in this New Yorker profile of Mackey: “The right-wing hippie is a rare bird.” And this right-wing hippie is simply roosting in his favorite nest with his latest plan. It's not even the first time he's offered inducements for his employees to be more healthy. His company conducts a three-month-long contest each year with prizes for the team whose members exercise and use mass transit the most.

Paumgarten concludes: “It sometimes sounds as if he believed that, if every company had him at the helm, there would be no need for unions or health care reform, and that therefore every company should have someone like him, and that therefore there should be no unions or health care reform.”

Saving Employees From Themselves?

That, in essence, seems to be the inspiration behind the latest Whole Foods wellness plan. It's myopic, paternalistic and with a generosity of intention that belies its know-it-all spirit.

Mackey thinks he's saving his employees from themselves. In reality, he's just giving a little bonus to those who are already most like himself — making employees in his own image a little tiny bit richer. It's not quite a God complex. But it's a nice, slim, start.

buy mutual funds, buy mutual funds, buy mutual funds, buy mutual funds, internet marketing, yahoo, google, Online advertising, http://www.prlog.org/10512637-franchisesforsalecom-launch-heralds-the-next-wave-in-franchisee-lead-generation.html, http://www.prlog.org/10512639-restaurant-franchise-opportunities-providing-new-job-opportunities.html, http://www.emailwire.com/release/30658-New-Lead-Site-FranchisesforsaleCom-Goes-Live.html, http://www.emailwire.com/release/31568-New-Franchise-Opportunities-for-2010-Online-Tools-and-Resources-for-Buying-a-Franchise.html, http://www.ideamarketers.com/?New_Franchise_Opportunities_for_2010_%E2%80%93_Online_Tools_and_Resources_for_Buying_a_&articleid=883071, http://www.earthtimes.org/articles/show/new-franchise-opportunities-for-2010,1100822.shtml, http://www.newsalbum.com/Read/473435-New-Franchise-Opportunities-with-Successful-Franchise-Companies-Putting-People-Back-to-Work/, http://www.transworldnews.com/NewsStory.aspx?id=164465&cat=9, http://www.zimbio.com/Housing+Bubble+News/articles/7/Dr+Robert+S+Shumake, http://mortgagefraudreportmichigan.blogspot.com/2009/12/robert-shumake-fraud-report-tax.html, http://personals.szczecin.pl/index.php?topic=2.0, http://tweetmeme.com/story/339636355/surface-encounters-in-wixom-going-green-with-marble-granite-countertop-production, http://finance.bnet.com/bnet/?GUID=11076222&Page=MediaViewer&ChannelID=6526, http://www.ideamarketers.com/?Surface_Encounters_Ohio,_LLC_Celebrates_100_Years_of_Experience_with_Columbus_S&articleid=880865, http://viralvideochart.unrulymedia.com/youtube/surface_encounters_macomb_mi__counter_tops?id=VGJx3FcNE50, http://www.veoh.com/browse/morelike/v19614992esMzfMCZ#, http://deals.yahoo.com/local-store-coupons/mer-surface-encounters–dept-home-garden, http://www.bignews.biz/?id=835928&keys=Shopping-counter-surface-Granite, http://www.businessweek.com/bios/Bill_Bartmann.htm, http://www.businessweek.com/archives/1998/b3603113.arc.htm, http://www.businessweek.com/smallbiz/content/apr2009/sb20090421_494148.htm?chan=smallbiz_smallbiz%20index%20page_top%20small%20business%20stories atlanta realtor

startups, investing, Government

Dodd Bill Could Render Startups Too Small to Succeed

James Geshwiler 3/23/10

Finances

Shopping

Food & Drink

Travel

Communications

For more mobile coverage, follow Mashable Mobile on TwitterTwitter or become a fan on FacebookFacebook

More iPhone resources from Mashable:

Signing Up & Registering Is Virtually Painless!

Signing In Is A Cinch!

Glance At Your Latest Activities

A Visual Analysis Of Your Life

The Future Of 1DayLater COULD Be In Your Hands!

Once You Reach Your Financial Security Goals, What's Next?

Signing Up & Registering Is Virtually Painless!

Signing In Is A Cinch!

Glance At Your Latest Activities

A Visual Analysis Of Your Life

The Future Of 1DayLater COULD Be In Your Hands!

Once You Reach Your Financial Security Goals, What's Next?

US Senator Threatens Uganda With Trade Sanctions

Jim Burroway

January 12th, 2010

Categories:

Archives:

Meta:

Blogroll