Author of American Hedge Fund is at it Again

I plan on follwing this guy closely to see what he is able to do. This is from a recent post By author and former hedge fund manager himself Tim Sykes:

I’m incredibly proud to announce that after reading my debut book An American Hedge Fund, YOUNG MONEY Magazine decided to make me their cover story for their November 2007 issue! The article is called Wall Street’s Bad Boy, which I love, so definitely check it out. This week, my book has also helped me get cover stories on two of my hometown papers The Connecticut Business Journal and The Waterbury Republican-American. Here’s a tip, if you ever get the chance to write a book, do it and write it honestly–it’s amazing how well people respond to honesty, whether it makes or breaks your reputation. It’s even more incredible to discover that many people have trouble understanding how finance and writing from the heart could ever go hand in hand. Well, finance is no different than any other profession or hobby where if you love what you’re doing and you’re willing to learn and adapt in the pursuit of success, you’ll succeed even if you fail because you’ll be able to understand the greatest happiness stems not from the end result, but from the process itself. (Yup, I majored in philosophy in college)



With that in mind, I’d like to tell you about a project I’ve been thinking about for a while now, but only after I closed my hedge fund on October 1st, have I been able to put all the pieces together. (which, in itself, is a sad commentary on the state of industry regulations)

What I plan to do is start all over again and repeat my original feat. I’ll begin with the same $12,415 in Bar Mitzvah Gift Money I originally received back in 1999 and trade my way back up to $1.65 million dollars for a second time. I believe that everyone should be allowed to learn about financial speculation, but people need to understand the markets better instead of being fed thousands of random stock picks. The goal is to help everyone learn by laying everything out there and breaking it down to the basics and i have a feeling I might enjoy proving all my naysayers wrong

I’m calling this challenge ‘TIM’, short for Transparent Investment Management, but I’m not taking on any investors. None. Zero investors. This is all about me teaching people through my personal stock trading. You’ll finally be able to understand strategies like short selling and scalping - I know, scary stuff, but in time, you won’t think it’s very scary any more.

I’m going to describe everything I do on TimothySykes.com. I will not give out stock picks ahead of time, instead, I’ll show everyone exactly what I’m doing so you guys can watch and interact with me while learning my strategies. The key is that I’ll hold nothing back. My every move will be open to public scrutiny. I’ll be using a regular discount online brokerage account to prove that anybody can do it. Perhaps most importantly, I’m gonna make this game fun and entertaining. So when you read this email, the challenge will have already begun–this week will be tough for me since I’m moving into my new apartment on the UES, but definitely check my website next week and after that, too–I can promise you no other financial blog will be so detailed. This is gonna get wild!

Via JohnChow.com



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Anyone Can Make Money Blogging, Even Old People

LOS ANGELES — Jerry Alonzy figured he'd be working into his 70s at least.
As an independent handyman at the mercy of weather patterns near Hartford, Conn., he'd always made a decent income that rarely grew.

Then he found Google (GOOG), and his life changed. Alonzy, 57, now makes $120,000 a year from the ads Google places on his Natural Handyman website, and he couldn't be more thrilled.

"I put in two, maybe three hours a day on the site, and the checks pour in," he says. "What's not to like?"

In return for placing its ads on websites and blogs, Google pays Web publishers every time one of its ads are clicked. Those clicks help keep Alonzy and his wife living comfortably and talking about moving to Hawaii. "All I need is a laptop and a high-speed Internet connection, and I can live anywhere."



The Internet may be a young person's medium, but the retired and those nearing retirement such as Alonzy have found that they can work the Web just as well. Sometimes, such "Gray Googlers" can live a richer, more financially rewarding life than when they were supposedly working.

"Google isn't just for kids anymore," says Google executive Kim Scott, who runs the company's AdSense program, the ad platform that provides the income for Web publishers such as Alonzy and others.

Take Jerrold Foutz. The former Boeing engineer, 75, started a website a few years ago devoted to one of his passions — switching mode power supplies, which help drive, for instance, the inside of video cameras.

He put Google ads on his smpstech.com site four years ago. After just one month, the first Google check was for $800. The second check totaled $2,000.

"I thought, 'Wow,' " he said. "This was the most amazing thing that ever happened to me. Something I thought would make $50 a year now equals my Boeing retirement check."

That comes out to around $25,000 yearly.

Foutz's experience is not an anomaly.

After Hope Pryor's four kids left home, she grew intrigued with the Internet and learned how to design a Web page. She didn't want it to focus on just her, so she posted some of her favorite recipes on the site.

Now, her Cooks Recipes site is bringing in nearly $90,000 yearly, mostly from Google ads. The holidays are the biggest-producing months of the year.

"Last December alone, I netted $30,000 from Google," she says. "There's not too many people I know who can walk into a car dealership and buy two vehicles at one time. I did just that recently."

While the upside of working with AdSense sounds exhilarating, it's not that way for everybody.

Scott says she posted an unsold novel on Google and earns about $5 a month from the AdSense ads on the site. Al Needham, 74, who runs a site about the care of bees (bees-online.com) from his home near Boston, reaps about $250 a month.

"Forget about getting rich overnight," says Alonzy. "It takes time to learn."

Jennifer Slegg, a consultant whose JenSense blog is devoted to tips for using so-called contextual advertising, says the easy part is getting AdSense up and running. Google provides computer code that must be copied and pasted onto a website. Figuring out how to do that "is very easy for new publishers."

Foutz says even if you've never cut and pasted code before (hint: On Windows PCs, highlight the text, press Control C to copy, then Control V to paste it), "Just follow what Google says. They have very easy-to-understand instructions."

Hard work, big reward

Introduced in 2003, AdSense was an outgrowth of Google's AdWords program, which put sponsored ads at the top of search results at Google's own site. Google created AdSense as a way to expand beyond search listings and onto hundreds of thousands of websites and blogs.

Google rivals Yahoo and MSN have similar programs, but they have found limited acceptance on the Web, where Google dominates both search, with more than 50% market share, and search advertising, with 90%.

Now everyone from big sites such as the New York Times and CNN.com to mom and pop operations such as Cooks Recipes and Natural Handyman have the familiar "Ads by Google" text-box somewhere on their site.

"With AdSense, we fund creativity on any topic," says Google's Scott. "If you have a subject you know something about, write about it, find a like-minded audience on the Internet and we'll take care of monetizing the content."

Or, as Joel Comm, author of the AdSense guidebook The AdSense Code, puts it: "People are amazed. They say, 'Really, all I have to do is write, Google will put ads on my site and pay me?' Yes, it's that simple."

There is a little more to it. The folks who reap the biggest rewards put in long hours setting up their site and feeding it lots of content.

"Write about what you know, write like mad and often," says Alonzy. "The more you write, the more opportunities you have to make money. If you post 500 pages on a topic, you'll have 500 pages with ads, and many more potential clicks."

Google's computers scan the content on Web pages to match it with appropriate advertisers. Articles on Alonzy's website about how to keep mice away might result in ads for pest control services, while a recipe for turkey casserole at Cooks Recipes might generate ads for diet tips and beauty makeovers.

"The beauty of our system is that we have so many advertisers," says Scott. "The content may not change, but our ads change every day. So you'll always see something different there."

Slegg says the biggest mistake new AdSense publishers make is clicking on AdSense ads — their own or others. That's a big no-no in Googleland, and can get you dumped from the program.

The computer won't break

Alonzy and other Gray Googlers say they haven't experienced any problems working in a young person's world.

"Many people my age are scared of computers; they think they're going to break them," says Needham. "The computers aren't going to break. But you won't find out unless you get in there and try."

At $250 a month, Needham's site generates revenue in line with its niche audience of folks who want to learn about bees.

"I bring in enough to fund a free vacation to Key West every year for the family," says Needham, a retired Department of Defense employee.

One stumbling block for many people is translating a great idea into a nice-looking Web page.

In the past, creating a Web page required knowledge of complicated HTML computer code, or learning off-the-shelf Web design software such as Microsoft's FrontPage or Adobe's Dreamweaver.

Now, Google and Yahoo have free tools to create Web pages or blogs. And many Internet website-hosting companies (such as GoDaddy and Brinkster) have online site creators that come as part of their monthly fees. Apple's iWeb is another such tool. With these, AdSense can be automatically added to your pages with the click of a mouse.

"When you retire, you have to have some interests," says Needham. "This is my indoor activity. I did a search online for how to create a website and found lots of good help out there for nothing."

The Internet, he says, opened up a new world for him.

"I started searching for other sites about bees and met some people from Australia with similar interests. We've since become friends, and I went to Australia last year to visit."

The same thing happened with Gail Bjork, 63, who runs the Digicamhelp site from her home base near Tampa. She designed her site but made a friend online in Ireland who has since redesigned it for a more professional sheen.

"My background was art," says Bjork. "I was an art teacher. I didn't know about code. My friend does. So now she handles the design, and I operate the site."

Bjork is a former local school board member who ran a print shop with her husband. A camera buff, she started the site because her friends were always asking for photo tips.

"This started as something to help my friends, and I've gone from a 14-page site to one with over 700 pages," she says. "I'm legally retired now — but not mentally."

Her site brings in around $1,500 a month. Bjork's advice to others: "For anyone, no matter what age they are, if they find something they truly love, write about it. You have nothing to lose but time. And it could really pay off."

Via UsaToday



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Trinity University 15 Laterals Miracle Play: Best Play

Picture the ending of the Stanford-California game in 1982, without the band and with three times as many laterals. Trinity University used 15 laterals after a completed pass on the final play of the game for an unlikely touchdown and 28-24 victory Saturday at stunned Millsaps. Call it the "Mississippi Miracle" for the Tigers, an NCAA Division III team in San Antonio.

Trinity Football 15 Laterals Miracle Play - Watch more free videos

Ive got a few buddies who graduated from Trinity, so i pretty much had to get this on the site. Even though it has nothing to do with finance. Enjoy!




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How Someone Made Half A Million Dollars ... With Ducttape

It’s sticky, and many Americans have a roll, just in case, but a number of resourceful entrepreneurs have made duct tape the focus of their businesses.

Garett Croft Stenson was broke and living with his parents in Portland, Ore., after college when he crafted a few wallets out of duct tape — a hobby he had learned in his dorm room. Mr. Stenson brought them to a local market to sell for $8 to $15.

The small, thin, brightly colored wallets were a hit, to the point where demand was outpacing supply. Soon Mr. Stenson was hearing from stores interested in selling his product and selling his wares at art shows nationwide.

“I thought, this could be a real business,” said Mr. Stenson, who was spending up to 90 hours a week making wallets. “I made the decision to take on an S.B.A. loan and hire people to help produce them. It evolved from something handmade for a street market to, ‘Let’s go big with this.’ ”

Five years later, Mr. Stenson’s business, DB Clay, is manufacturing a thicker type of duct tape in China and hoping to make at least $500,000 in sales this year. And he is not alone.

Dozens of small businesses make wallets, handbags, jewelry and other products out of duct tape.
Via uncommon business blog






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Another 2500 Starwood Points When Activating Your Starwood Amex Consumer Card

This is really simple, but it may not work for everyone.

I discovered this after activating a few family member’s cards.

When you are activating your card, push “0″ to speak to a live person.
They will run through a whole activation spiel with you.
As part of the spiel they will offer you the ability to add an additional card to your account and get 2,500 bonus starwood points for adding one cardholder, with no annual fee!

Getting an additional card should not affect your credit at all.

You do not have to give the other cardholders social security number, just a birthdate (Tell them that you don’t know their social security number).

If you are not offered the additional card or the 2,500 points, just ask for it!

Good luck, and please post your experiences!

Additionally I was not successful in one try at getting this promo for an existing card, but if anyone is successful, please post that as well!







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$100 Dollars from Bank Of America, $125 Dollars from Chase for Checking Account Sign Ups

New Promotions for checking account sign ups:

-Bank of America is offering a $100 bonus for opening a new personal checking account with them. Not available to existing checking account holders.

To receive your $100, apply online or go to your nearest banking center. Use offer code AOU2611, and open a personal checking account before January 31, 2008.

Offer does not apply to second or multiple checking accounts and/or existing checking customers. Student checking accounts are not eligible for this offer.

-Chase Bank is offering a $125 bonus for opening Chase Free Checking account at branch, and using Direct Deposit.

Offer valid 10/01/07 through 12/31/07. Chase Free CheckingSM requires a $100 minimum opening deposit of new money (money not currently held by this bank or its affiliates) to qualify for the $125 reward. Chase Free Checking has no monthly service fee when you have a monthly direct deposit. Limit one personal checking account-related reward/premium per customer, per calendar year.

Note that both banks have pulled a hard credit check on me when applying online. Not sure if they would do so if you applied in branch.






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Man Finds 3.9-Carat Diamond in Arkansas

This may be a good a reason as any to pay a visit to Arkansas. With a find like this, I would say definately worth the price of admission.

MURFREESBORO, Ark. - A man visiting a diamond park with his fiancee found a 3.92-carat white stone, but it's not going to go onto the finger of his betrothed.

That's because she already has a ring -- albeit only 1 carat -- with a setting.

Eric Blake, 32, of Appleton, Wis., spotted the stone Tuesday along a trail at Crater of Diamonds State Park when he set down a bucket of mud he was carrying to a wash basin.
"I put the bucket down to switch hands. I looked down and there it was," Blake said.

The stone is big enough to fashion into jewelry, but Blake said Tuesday that he hadn't decided whether to have it placed into a setting.

His fiancee, Susan Gabrielson -- who has "only one carat on her finger" -- accompanied Blake to the park this week.

Crater of Diamonds is the world's only diamond-producing site open to the public, and visitors can keep the stones they dig up.

The largest diamond ever found in the United States, a 40-carat white stone named Uncle Sam, was unearthed there in 1924.




type the rest of it here.



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Free Money October 2007 Update

It turns out October was not nearly as profitable a month as September was, but here are the results.
Google Checkout discount - $30 / .1 hours of signing up for new account

Buy.com Rebate for SD card - $10 / .1 fill out and send in form

October Total - $40 / .2 hours

Grand Total YTD - $2419 / 7.4 hours




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Painting Found in Trash Worth One Million Dollars

NEW YORK - A painting stolen 20 years ago was found lying in trash along a street, and now it could fetch up to $1 million at auction.
Elizabeth Gibson didn't know anything about the brightly colored abstract work she spotted on her morning walk four years ago on Manhattan's Upper West Side. Sotheby's auction house will be selling the work next month for the now-widowed original owner.
"I would say it was an appointment with destiny," Gibson said in a telephone interview Tuesday. "I just knew it meant something. ... It was extremely powerful, and even though I didn't understand it. I knew it had power."

It turned out that it was a 1970 painting titled "Tres Personajes" (Three People) by Mexican artist Rufino Tamayo, whose work has soared in value in recent years.

A Houston couple whose names were not disclosed purchased the work -- an oil on canvas with marble dust and sand worked into the paint -- in 1977 at Sotheby's. It was stolen in 1987 from a warehouse where they had placed it while moving.

The couple reported the theft to Houston and federal authorities. Information on the missing painting also was posted on the databases of the International Foundation for Art Research and the Art Loss Register. But no credible leads had turned up.

August Uribe, Sotheby's senior vice president of Impressionist and modern art, said in an interview Tuesday that the husband paid $55,000 for it as a gift for his wife. He has since died and she is putting it up for sale.

Sotheby's said it could bring up to $1 million when it is sold at its Latin American Art auction on Nov. 20. Gibson will receive the $15,000 reward the couple put up when it was stolen, plus an undisclosed percentage of the sale of the painting.

Gibson said she learned of the work's worth when her research led her to the Web site of "Antiques Roadshow FYI," a companion program to the PBS show "Antiques Roadshow."

Uribe had featured the painting on "Antiques Roadshow FYI's" Missing Materpieces segment.

Sotheby's says "Tres Personajes" is an important work that represents the artist's mature period.

Tamayo was born in 1899 in the Mexican state of Oaxaca and studied at Mexico's School of Fine Arts. His early work had similarities to that of famous Mexican muralists such as Diego Rivera. His later style is more individual, featuring the vivid colors and expressions of Oaxaca and the influence of pre-Columbian art.

By the time he died in 1991, Tamayo was famous worldwide with numerous prizes to his credit and exhibitions in the United States, South America, Europe and Russia.

A Tamayo retrospective starts Friday at the Museo Tamayo Arte Contemporaneo in Mexico City.
Via Mcall.com



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Free Money September 2007 Update

This is what i have managed to scrounge up in the month of september from mostly AOR bonuses but also some from surveys. Here is the other Free Money that i have earned in 2007.
Rampage.com survey gc - $10/ .1 hours from survey

AOR promo money- $1000 / 2.5 hours from sign ups.

Sharebuilder.com survey gc - $15/ .25 hours from survey

Total September - $1025 / 2.85 hours

Grand Total YTD - $2379 / 7.2 hours






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App-O-Rama: Step 3 Put the Money in the Bank

At 5.00% APY, and no fees, Washington Mutual was the bank i chose to place the balance transfered funds into. To earn this rate however it also requires a checking account with Wamu. I actually decided to go with this bank because in addition to the best interest rate it allows me to have free bill pay and access to atms and branches. Feel free to check out some of the other banks with best interest rates. Ive already automated the bill pay to each of the credit card accounts every month for the specified amount of 0% interest. All I do every month is transfer the total of minimum payments into the checking account, which is simple and monitor the payments once a month to ensure they go through. So this is it. I will be updating any difficulties i encounter with payments or anything noteworthy.




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If a Recession Were to Hit, Would You Be Prepared

Another Great Post that i came across from Growing Money Blog
When recession rules, cash is king.

It’s tough to figure out where the economy is headed, and some folks think today’s biggest risk is inflation, not recession. Still, in trimming the federal-funds rate last week, the Federal Reserve noted that “the tightening of credit conditions” could “restrain economic growth.”

Indeed, the signs are ominous. August’s jobs data were notably dismal, with nonfarm payrolls shrinking by 4,000, instead of the 112,000 job increase expected by Wall Street. Americans are getting squeezed by tumbling home prices, rising mortgage payments and $80-a-barrel oil, and all this could cut into consumer spending.

If the economy turns sluggish, it will be rough on those who lose their jobs, while offering buying opportunities to those still employed. But either way, there’s one thing you’ll want — and that’s access to cash.

• Taking advantage.



A mountain of cash would, of course, be a great comfort if you’re laid off. But even if you hang on to your job, a little extra money in a high-yield savings account or a money-market fund could prove mighty useful.

Maybe a recession will further pummel the housing market, and you can put your savings toward buying a vacation home or trading up to a larger house. Maybe a slowing economy will knock shares lower, and you can use your cash to buy stocks at bargain prices.

For the cash-rich, a recession can also be a good time to purchase a car, as dealers slash prices to unload inventory. Alternatively, you might seize the chance to remodel the kitchen, knowing that contractors will likely bid more aggressively for your business.

• Reclaiming savings.

With all this in mind, stockpile savings.

But where? If you think your job is in jeopardy, forget funding the kid’s college account and don’t make extra-principal payments on your mortgage. The problem: If you lose your job, it may be hard to get your hands on this money.

You might also be tempted to skip your 401(k) plan. But in fact, sticking enough in your 401(k) to get your employer’s full matching contribution should remain your top financial priority.

True, if you’re laid off and strapped for cash, you might be forced to tap your 401(k), triggering income taxes and possibly tax penalties. That double whammy, however, will likely be more than offset by today’s twin benefits, in the form of an initial tax deduction and the matching employer contribution.

After you have funded your 401(k), direct additional savings into a Roth individual retirement account. You can fully fund a Roth if you are single with income below $99,000 or married filing jointly with income under $156,000.

One of the Roth’s little-known benefits: At any time, you can withdraw your contributions — but not the account’s investment earnings — without paying taxes or penalties. That means this year’s $4,000 Roth contribution could be next year’s unemployment fund or next year’s home-improvement fund.

Got additional money to save? Stuff it in a savings account or a money fund held in a regular taxable account. If you lose your job or buy a vacation home, this is the first place you should go for cash.

• Downsizing debt.

As you prep your finances for a possible recession, also get your debts under control.

Buy yourself some financial breathing room by paying off your credit cards. If you’re worried you might get laid off, think twice before taking on new financial obligations, such as car leases and loans.

Also, set up a home-equity line of credit and check whether it’s worth refinancing your mortgage to lower your monthly payments. You will likely find the mortgage company more receptive today, while you are still employed and still creditworthy.

If the economy slips into recession, and you lose your job or undertake major home improvements, the credit line could be a godsend. What if there’s no recession? This extra borrowing power might still come in handy — and you will no doubt find some use for all that extra cash you’ve saved.

A hat tip to growing money blog



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The Best Interest Rates for High Yield Online Savings Accounts

I did some research. I googled for “high yield savings account”. Found the 4 best interest online savings interest rates and the top 4 full service savings account interest rates. All of these accounts are FDIC insured.

The top 5 interest rates from online accounts with a $1 dollar minimum deposit are:
1. FNBODirect Online Banking - 5.05% APY. Offer is a variable rate no monthly maintenance fees. FBNO Direct is a part of the First National Bank family. First National has been serving Omaha and surrounding communities for 150 years and ranks as one of the fifty largest banks in the United States.
2. Emigrant Direct -4.75% APY, no fees, can link to other bank accounts, web interface. No minimum no monthly maintenance fee, bank to bank transfers take 2-3 business days. The Bank was founded by Irish emigrants as a mutual savings bank in 1850. By the 1920’s it had grown to become the largest savings bank in the nation.
3. E*TRADE Online Banking - 4.70% APY, no monthly maintenance fees. Provides financial services including trading, investing, banking and lending for retail and institutional customers. Also offers a high interest checking account with 4.00% APY for accounts with over $5,000 dollar balance.
4. UnivestDirect Online Banking - 4.55% APY, No minimum, no maintenance fees, free two-way funds tranfer between Univest and other banks. For over 130 years, Univest has become one of the strongest locally based financial institutions in southeastern Pennsylvania.

Top 4 Best Full Service Savings Accounts:
1. Washington Mutual - 5.00% APY, no minimum deposit to earn this rate however it also requires a checking account with Wamu. Washington Mutual, established as one of the nation’s leading and fastest growing financial services companies. I actually decided to go with this bank because in addition to the best interest rate it allows me to have free bill pay and access to atms and branches. This is the perfect account for my AOR.
2. Citibank Direct Online Banking - 5.00% APY, No minimum, no monthly maintenance fees. Be sure to review their requirements which include using your account for online bill payment to receive this offer. However, if you plan on doing this see how to get $200 dollars for opening a checking account with citi. Citibank is one of then world’s largest financial services companies, with approximately 200 million customer accounts in more than 100 countries. Citigroup’s Consumer businesses comprise the financial service sector's most diverse consumer product offerings, including banking services, credit cards, loans and insurance.
3. HSBC Direct Online Banking - 4.50% APY, no monthly fees or minimum balance requirements, links to your existing accounts at any bank. HSBC - North America is one of the top 10 financial services companies in the United States with assets approaching $300 billion. HSBCdirect is HSBC Bank USA, N.A.'s online-only banking channel
4. E*Trade Online Banking - 4.70% APY, No minimum, no maintenance fees. There is a QuickTransfer feature at E*Trade and it seems great. It would be convenient to have one interface to manage all my accounts at all my financial institutions. Is anyone currently using this?


Which one is the best in your opinion?








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Is Now the Right Time to Buy Into the Real Estate Market? Buyers at a Minnesota Auction Did

MINNEAPOLIS, Oct. 21 — In a down real estate market, they came to buy. They came early, they came in numbers and they came with bank checks for $5,000.

By 10 a.m. Saturday, more than 700 people filled a hall in the convention center here for what real estate agents say is the largest auction of foreclosed properties ever in Minnesota, with more than 300 houses or apartments for sale in two days. Opening bids ranged from $1,000 — for a three-bedroom house — to $729,000, for a five-bedroom house on 11.9 acres. The crowd was standing-room only, with more waiting to enter. Some were looking for homes, others for investments.

“It’s a symptom of the foreclosure crisis,” said Jim Davnie, a Democratic state representative in Minnesota. Mr. Davnie said he had concern that areas already hit by the foreclosure crisis would now be hit by investors buying properties to rent them out, “which makes neighborhoods less stable than owner-occupied housing.”

But in the loud, overcrowded hall, the misery of subprime loans, exploding adjustable rate mortgages and slumping sales meant one thing: opportunity.

“Who’s got $150,000?” said the auctioneer, Mark Buleziuk, motor-mouthing the sale of a four-bedroom house that he said was worth $234,000. “It’s a buyer’s market,” Mr. Buleziuk urged.



The auction, like others that have proliferated around the country this year, tapped the contradictory forces of the current real estate market, in which mass foreclosures and sinking home values, along with predictions of more pain to come, still stoke the urgency to buy right now, before it is too late.

“The market’s really low right now, so you can get a good price,” said Lori Crook, a food server at Keys Cafe who said she was looking for a place she could fix up and sell. “Even if you can’t sell it right away, if you just sit on it and sit on it, it will go up.”

The auction involved a tiny fraction of foreclosures in the state. Julie Gugin, executive director of the nonprofit Minnesota Homeownership Center, projected statewide foreclosures at 20,000 this year, up from 11,000 last year, based on data from sheriffs’ sales.

Representatives from two big lenders that have been hit hard by the collapse of the subprime mortgage market, Countrywide Financial and Bear Stearns, were on hand to provide mortgages — fixed, adjustable, jumbo or interest-only. Both have been criticized for giving loans too freely, leading to a wave of delinquencies and a rush to sell debt securities backed by those loans.

Countrywide and an affiliate of Bear Stearns were also among the lenders selling properties at the auction. Both have been hurt by defaults on mortgages.

“This is such a stark and dramatic illustration of how serious the problem is,” said Ron Elwood, a lawyer at the Legal Services Advocacy Project, which lobbies in the interest of low-income residents. “The reality is, half the reason 300 homes are being auctioned off is that speculators tried to make a killing and failed to do so.” In Minneapolis, 55 percent of foreclosures this year involved houses not occupied by their owners, according to county records.

But instead of alarming buyers about the risks, the auction of so many foreclosures at once was an invitation to speculators, small and large. Some, including Bryan Kihle and Jim Casha, who bought a four-bedroom house for $145,000, bid without seeing the properties. “I just looked at the picture and thought if we got it cheap enough, we could rent it for a year, then sell it when the market goes back up,” said Mr. Kihle, a building contractor. One public interest housing group bought eight properties to restore for low-cost housing.

Others just saw a chance to enter the housing market. “It won’t always be low,” said Pearl Dobbins, who said she was willing to spend up to $50,000. “This is our chance to buy a home and start our financial future.”

What they all found was a mad scene. As men in tuxedos raced around, waving their hands at bidders and goading them to bid higher, Mr. Buleziuk delivered a nearly indecipherable sales pitch, amplified to exhausting levels.

Jeff Groskreutz, shouting to be heard, said it all felt familiar. “It’s just like any other farm auction I’ve been to,” Mr. Groskreutz, a former farmer, said.

For Mr. Groskreutz, 39, the object of his desire was a five-bedroom, three-and-a-half-bath ranch house in Forest Lake, about 25 miles northeast of Minneapolis, which had a starting bid of $169,000. According to the auction program, the house was “previously valued” to $457,000. But when the bidding reached $250,000, Mr. Groskreutz dropped out. “That was my top,” he said.

The boom in foreclosures has also meant opportunity for companies like the Real Estate Disposition Corporation, based in Irvine, Calif., one of several across the country that hold auctions for lenders that need to unload the record number of properties they have repossessed this year. The corporation, which ran the auction here, started in the 1990s but was dormant from 1998 until this year, said Michael Schack, a senior vice president. When the market was hot, banks sold foreclosed properties without auctions. But since holding its first auction in May, the company now has at least one scheduled every weekend this year except Thanksgiving.

If the winning bid does not exceed an unpublished minimum set by the lender, the seller can decline the sale.

Paul Schoenecker, owner of a local franchise of HomeVestors, the people who post the “We Buy Ugly Houses” billboards, said a minority of the sales were true bargains.

Even so, Mr. Schoenecker bid on some properties. Buyers were required to provide a $5,000 bank check, along with a personal check to bring their contribution up to 5 percent of the purchase price. Upon placing a winning bid, they proceeded to financing tables in the back — with no opportunity to further inspect the property or negotiate repairs.

The bidding for most houses took less than three minutes. Over two days, 85 percent of 340 properties were sold.

Nathan Harris, 23, bought lot 8A, a four-bedroom house near the University of Minnesota, for $80,000. He had been willing to bid as high as $150,000.

Since he is still a part-time student, Mr. Harris chose an interest-only mortgage, which will convert to a 25-year adjustable rate mortgage after five years, the type of exotic mortgage many critics and lawmakers blame for the foreclosure crisis. But he said he was not worried: in five years, when his mortgage adjusts, it will still be on a principal of only $80,000.

For Tina Sunda, though, the day was not to be. Miss Sunda, who is single and works as a facilitator for a special education program, has never owned a property, and paid repeated visits to inspect a duplex house she thought was worth $175,000 to $200,000. She brought a friend who is a real estate agent to advise her.

“It’s over-stimulating, but it gives people a chance to buy low,” Miss Sunda said of the auction environment. “They’re trying to whip everybody up.”

When Mr. Buleziuk called for the opening bid of $99,000, she shot her arm up, and again seconds later, and again after that. But at $150,000 she dropped out, watching the house go to another bidder for $165,000, less than she thought it was worth but more than she was prepared to pay.

The next day, Miss Sunda was philosophical. “I’m proud that I took a risk, and that I didn’t let the excitement push me over my limit,” she said. “I’d do it again, but I was pretty exhausted by the time I left.”
Via NYtimes.com



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Great Article on Relationship Between Depression and Occupation

I enjoyed this post from Suns Financial Diary Blog :

A personal care provider is twice as likely to develop depression than a software programmer, according to the latest National Survey on Drug Use and Health (NSDUH) report released last week by the Office of Applied Studies.

The study focused on the relationship between depression and occupation among adults (age 18 or older) who work full-time. Data from 2002 to 2004 was used in the study, which found that overall nearly 7% of all full-time workers experienced major depressive episode (MDE) in 2006. The report ranked Personal Care and Service as the occupational category with the highest rate of depression, at nearly 11%, followed by Food Preparation and Service at a little over 10%. The study also found that females are in general more likely to feel depressed than their male counterparts across all job categories.

Which job has the lowest depression rate? The answer is in the following chart:

Past Year Major Depressive Episode (MDE) among Full-Time Workers Aged 18 to 64, by Occupational Categories**: 2004-2006 Combined



A Hat tip to Suns financial Diary







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Microsoft Wants a Piece of the Ad Conversions From Google

Google undeservedly receives credit for many clicks on the online ads it delivers via its search engine, but Microsoft wants to put a stop to that.

Google Inc. has gotten undeservedly all the credit for many clicks on the online ads it delivers via its search engine, but Microsoft Corp. wants to put a stop to that.

So said Brian McAndrews, senior vice president of Microsoft's Advertiser Publisher Solutions Group during a panel discussion at the Web 2.0 Summit in San Francisco Thursday.

Currently, systems for tracking ad conversions and analyzing online marketing campaigns focus on the last ad a user viewed or clicked on, he said. This gives all credit to that last publisher and not to others the user may have been at before and influenced the user to seek more information about the advertiser, McAndrews said.

In particular, this situation has unfairly benefitted Google because many times someone will see a display ad on a site and go to Google, search for the vendor's name, and then click on the vendor's text ad served by Google, he said.

But Microsoft is developing a technology called "conversion attribution" that will track the trail of ads seen by a user, so that advertisers get a more complete understanding of how effective their marketing campaigns, he said.

Along the way, advertisers will get a more balanced view of the value of their ads across a wider trail of Web sites and via a variety of ad formats, not just the last ad displayed by the last publisher, which is often Google, he said.

"We'll introduce conversion attribution to give [more publishers] credit and it will devalue search [advertising]," McAndrews said.

Search advertising is the largest online ad format, accounting for about 40 percent of total ad spend. Google has built its empire on these pay-per-click ads, which the company matches to the content of queries on its search engine and to the content of third-party Web sites on its ad network.

While search has been the main driver of the blistering growth of online advertising in the past five years, that won't be the case in the coming five years, McAndrews said.

In addition to the "conversion attribution" technology, the shift away from search ads will be fueled by the increased spending in online ads from large companies which prefer display and rich media advertising designed to boost their brands, and for which pay-per-click text ads are less effective, he said.

Google didn't have any representatives participating in the panel. The company didn't immediately respond to a request for comment.

Microsoft didn't immediately respond to a request for clarification on the availability of the "conversion attribution" technology.

McAndrews, who came to Microsoft recently via its US$6 billion of aQuantive Inc., of which he was the CEO, shared the stage with other ad executives in a panel titled "Edge: The Advertising Model" moderated by conference chair John Battelle.
Via Pcworld.com



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Kingston 2GB Secure Digital Memory Card: Only $4.95 at Buy.com

Here is a Decent deal for a Kingston 2GB SD card. No speed info on Buy.com but found this on Amazon that shows 2mb/s average speed. The card is $14.95 with free Shipping and tax free. However, you get $10 dollars off any new purchase with Google Checkout to bring the price down to $4.95 shipped (new users only - means new registration with new email address). In addition, you can also receive a $10.00 magazine refusal rebate here, its really simple to fill out. (just decline the magazine offer for orders over $10.00 and send in the receipt and form) Then you actually end up making $5.05. I bought one yesterday for my digital camera because I am shooting alot of video lately which eats up my memory. If anything, would make a great stocking stuffer for the holidays. Enjoy!!



Here is the Link To Purchase the Card.




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A Comprehensive Synopsis of "The Automatic Millionaire" by David Bach

I found this on FWF, its a review of the book"The Automatic Millionaire" by David Bach. He has written some other personal finance books such as "Smart Couples Finish Rich". For those who have given some thought to reading the book but do not have the time nor energy, you should definately take a gander. A special thanks to user kamalktk for the great hard work.

Chapter 1, in which we meet our prototypical automatic millionaire.

The young author meets a millionaire next door type who give the secrets of their $2 million net worth in their early 50's on a combined salary maxing out at $55k. All personal finance books seem to start with an example story that lays out the basic points that form later chapters and serves as motivation, there's nothing new here. It's a good example of laying out what you're going to be talking about later. The idea of this book is to simplify saving for retirement, automating as much as possible so you don't have to think about it. Inevitably, this is going to lead to a less than FWF optimal strategy.

Chapter 2, "The Latte Factor"

The basic idea here is that small unnecessary expenses add up. Start the process by keeping track of what you spend (including credit purchases) for one day (or even better, one week), and then sort the list into essential and non-essential. The goal is to identify where you can cut back. Replace the morning Starbucks with the office coffee pot, etc. "The Latte Factor" shows up in all Bach's books, I wouldn't be surprised if he's trademarked the phrase, and here he also calls it the Cigarette Factor (those little nicotine delivery devices are expensive). You want to identify places you can cut back or substitute to find the money to save, this is to fight the "I spend my whole paycheck" argument against saving.

The potential weakness here is because you are self rating what's essential, you might mark that latte or those smokes as "essential" in a fit of self justification. Perhaps someone else could mark your essentials list. With long discussions on FWF about packing lunches and living economically, there are no great FWF sins here in this chapter.


Chapter 3. Pay Yourself First

First off don't keep a budget, it doesn't work, it's not realistic as it fights human nature. Paying yourself first actually reduces the need for discipline in spending because you set aside untouchable money. With the rest of the money you make, do what you want.

You want to know who "Pays themselves first"? The government, that's who. Your taxes are automatically deducted, your savings should be too. So how much to pay yourself? Bach provides these estimates, 5-10% of your gross income and you'll have a middle class retirement, 10-15% nets you upper middle, 15-20% and you'll retire rich, 20+ and you'll retire not only rich but early. These numbers seems to be clearly aimed towards people who have middle class to begin with, which, given this is a financial self help book, is reasonable.

Chapter 4, Automate, Automate, Automate

The key here is you want to remove the need for discipline. Set things up so they happen automatically, and then you can forget about them. Since they're forgotten about, there is no need for discipline in saving. If you can't bear to start with even 10% of gross savings, start anywhere, even 1%, but make sure you save percentages, not absolute amounts, that way your savings grow as your earnings do, automatically. Once you're comfortable with what you're saving, increase the percentages until you reach your goal percent.

Bach is a fan of 401k's over Roth, both for the company match, and because it's easy to automate in his opinion and requires less discipline (his concept). He does acknowledge future tax uncertainty and tax rate hedging. We also get some charts on the wonders of compound interest. It's not he FWF optimal strategy of maxing out company contributions in 401k, then funding Roth, then maxing the 401k.

So what to invest in? Bach provides some charts and espouses diversification. He says treat stock in the company you work for as if it is aggressive growth whether or not the company would fall into that area. That way you minimize having all your eggs in one basket if something happens to the company. Want to make things even simpler? Go for target date funds. If you have more questions about retirement planning, he refers people to try IRS pub 590 (IRA's/401k) or pub 560 (small business owners)

Automate bill paying as well. This removes the desire to spend the money on something else. Automation/simplification is the overriding theme of the book.

Chapter 5, Automate your Emergency Fund

According to Bach, you want at least 3 months of emergency cash, more if you feel that's not enough, maybe you're afraid of UFO's like one example couple. Bach states a good place to stash that cash is in MMA accounts, and make sure you shop around for rates. Don't try to build up the fund as quickly as possible, try to automate deposits into your emergency fund of 5% of gross until you reach your emergency goal. Since buildng up he emergency fund is one of the first steps to
take, he wants it to be psychologically doable, thus the 5% until full funded target. Bach has never been one to encourage a ramen noodle diet in pursuit of financial wealth.

But what if you have credit card debt? Then go for one month of emergency funds and focus the rest on paying down your cc debt. CC debt gets it's own chapter later.

Chapter 6. Automatic Debt Free Home Ownership

"You can't get rich renting". Home ownership has a number of financial and emotional benefits: it's forced savings (as you pay principal), it uses leverage, it uses Other People's Money (he lists this separately, but I couldn't figure out how this differs from leverage), there are tax breaks to ownership, home ownership is a proven investment, and it provides pride of ownership. Given the current housing situation, this would seem to be bad advice as rent/mortgage payment ratios have gotten out of what across many parts of the country. So for the general population it's good advice over the longer term, for us FWF'ers there are other things to consider, like what you think housing will do.

He does go into how much people can afford, which is where things are out of whack right now in many places, and recommends spending between 29-41% of gross income on mortgage. A faithful reader will catch on to the affordability issue and not focus on owning at all costs, but the emphasis is definitely on owning being preferable.

Bach is a fan of the 30 year fixed mortgage plus making additional payments to shorten the term of the mortgage. He advocates either biweekly, or pay an extra 10%, in order to make an extra mortgage payment a year. He doesn't say why he doesn't advocate just getting a 20 or 15 year mortgage since that would do the same thing. I can only assume it's to give more financial flexibility in case of emergency. This isn't exactly the FWF financially optimum thing to do, since he
does advocate investing in the stock market to gain "typically 10%" returns, he is aware you can do better than investing at the mortgage interest rate.

Chapter 7, Automate a debt free lifestyle

Here's Bach's plan for dealing with cc debt:
1. stop spending so much/don't buy stuff you can't afford (this goes back to his "Latte Factor");
2. negotiate lower rates if possible, and consolidate to simplify repayments;
3. Split your Pay Yourself First money 50/50 towards savings / cc debt elimination. He acknowledges this is not financially optimal, but necessary for psychological reasons, people want to be able to see savings progress, not just debt elimination progress;
4. Pay off cc debt via a "DOLP" method. DOLP stands for Dead on Last Payment, and is a score determined by dividing total amount for the card by the minimum payment. Thus a $500 debt with a $50 min. payment has a DOLP of 10, with a $100 min payment it's DOLP score is 5. You want to identify the card with the lowest DOLP number, and pay minimum towards the rest of the cards while sending anything extra towards the low DOLP number card. Sound anything like the "Debt Snowball"? It should....
5. Automate this process as much as possible, and once paid off, cards should be closed, leaving only one or two cards.

He doesn't seem to advocate going all cash, as there is a sentence or two in there about using cc's only when you can pay it off immediately.

Chapter 8, Make a Difference via Automated Tithing
Here, tithing refers not necessarily to giving 10%, and not necessarily to giving it to your religious institution of choice, but giving to a charity of your choice. This is something Bach has promoted in other books. Sure, it's not financially optimal, after all you are your own best charity, but the psychological/spiritual rewards of giving raise your quality of life, karmic circle and all that. His other books have also talked about spending money on your values to promote personal happiness and quality of life, so he's being consistent.

Overall, a good book for the general population. He doesn't say you're going to get rich quick, in fact he says it'll take years/decades (that alone is pretty much guarantee that he's not a scammer). He's encouraging people to be realistic, and not adopt a ramen noodle diet to achieve goals. He thinks the ramen noodle diet is bound to fail because people in general just can't stick with something so stringent.

Are his ideas FWF mathematically optimal? No they are not. Do they include techniques like AOR? No. Is it a good starting point for beginners? Yes. Something easy enough to implement for a loved one without a current financial plan? Yes (it is focused on automating as much as possible
after all, in order to reduce your need to supervise the money).

I've read several books by Bach, he has an easy to read style that makes his books a quick breeze (I finished the 228 page book in about 3 hours). This is not my favorite book by the author, I prefer "Smart Couples Finish Rich" for it's focus on identifying your personal values and using them to guide your spending to increase your personal well being. I appreciated him asking the question of what to do with your money once you have it.
A hat tip to kamalktk on FWF




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U.S. in Iraq: Promoting Western Democracy and Now Credit Cards?

Credit cards have arrived in Iraq, four years after the U.S. invasion, reports National Public Radio.

While credit cards were unheard of under the regime of Saddam Hussein, at least one bank in the country now offers customers the chance to have their very own plastic.

The Trade Bank of Iraq has so far issued Iraqis 15,000 credit cards.But unlike in some other countries, getting a regular credit card in Iraq is a tougher prospect. According to the trade Bank of Iraq, a credit card is given only is cases where the applicant is known to the bank.

For Iraqi consumers with no history, the bank starts them off with a prepaid credit card, instead.

The bank explained that unlike in the west, where an applicant's Social Security number is sufficient to check their credit history, lenders in Iraq do not yet have that ability.

Cash is still king in Iraq, with consumers even acknowledging that credit cards are most useful for transactions made outside the country. Still, some Iraqi cardholders are using their plastic to set up online businesses and make online purchases from vendors abroad.
Via CCinfo



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Update App-O-Rama: Step 2 Apply For the Cards Final Update

One Month has passed since i performed my App-O-Rama and i have received the final verdict on all of my applications. The official stat count for all of the applications show that out of the 24 credit card apps i filled out, 15 were approved and 9 were declined. My first ever AOR is definately a success thus far because i have managed to secure about $118,500 in credit limits combined. It breaks down to be $51.5k in credit lines that remain 0% for 6months and $67K in credit limits that remain 0% for more than 9 months. It was a goal of mine to obtain over 50% in CL from long term balance transfer offers.

My strategy ended up having a huge upside. There were many promotional offers involved in my AOR. I received:
-12,500 Starwood points ~$125 Dollars
-30,000 Amex Gold points~$300 Dollars
-$25 Dollar Espn Gift Card
-30,000 Thank You points~$300 Dollars
-16 A+ points ~ $250 Dollars

Total - $1000 Dollars in Promotional Offer Money

The only downside is that from all of the inquiries, my credit score dropped by 20 points. That is perfectly fine for me, however. I have plenty of time for that score to increase before my next planned AOR! Stay tuned for step 3 as i research a bank for which to place the arbitrage money.

Business Cards I plan to apply for (sorted alphabetically):
advanta small business visa(0%/16mo/$50btfee)
instant results: deferred
deferred results: DENIED - too many inquries

AMEX Business Gold Rewards Card - 25,000 Bonus points with 1st purchase - 1st year waived instant results: approved amt. deffered
Deferred results: approved

Bank Atlantic Rewards Business MasterCard - 0% BT 15mo ($75)
Instant Results: deferred
Deferred Results: Approved $15k CL

BofA Business Power Rewards Visa (0%/9mo/$0BTfee)
instant results: deferred
deferred Results: Approved $5k CL


Chase Business Cash Rewards - 0% BT 12mo ($75)
instant results: deferred
deferred results: Denied business not verified



Chase Business United MP (25k miles, FYF)
instant results: deferred
deferred results: Denied business not verified

Citi Business Card with TYP - 0% BT 12mo ($0) - 15,000 TYP
instant results: deferred with accessorize page
deferred results: Approved $12k CL

Citi Business PremierPass Mastercard - 0% BT 12mo ($0) - 15,000 TYP 1st yr annual fee waived
instant results: Deferred with accessorize page
Deferred Results: Approved $6k CL

Discover business 0% for 12 months 75BTfee) applied 9-19-07
instant results: deferred 30 days
deferred results: Denied too many inquiries

M&T Bank - Business Card (0%/6mo/$0BTfee)
instant results: deferred
deferred results: Approved $7.5k CL

National City Visa Business (0%/6mo/$0BTfee)
instant results: Approved $10k CL
Deferred results: Approved
-----------------------------------------------------------------------------------------------
Personal Cards I applied for (sorted alphabetically):
AM.EX Starwood Preferred (10k pts, FYF)
instant results: deferred
deferred results: Approved

Baylor US BANK platinum Visa (0%/6mo/0BTfee)
instant results: deferred
deferred result: Approved $12k CL

capital one no hassle cash (0%/june08/0fee)
instant results: DENIED
deferred results: too many inquiries

chase platinum mastercard 12mo 0BTfee
instant results: Deferred 30 days in writing
defered results: Approved $9.5k CL

Citi Prof 0% 12mo NFBT +$15KTY
instant results: deferred for 30 day processing. probably declined
deferred results: Denied too many inquiries

ESPN WaMu/Providian (0%/06mo/$0BTfee+ 25GC 1-800-497-2835
instant result: approved $7k CL
deferred result: approved

Juniper Bank Atlantic (0%/15mo/$75BTfee) -with 8 A+ points with first purchase and 1 A+ points for each $1k BT - 16 A+ points
instant results: Approved $15k CL
Deferred results: approved

hsbc platinum fly visa 12mo 75btfee
instant results: 10-15days defferred
Deferred results: Approved $4.5k CL

LaSalle Bank (0%/12mo/$75BTfee)
instant results: deferred
deferred results: Approved $15k CL

Principal 12mo 0% max 75 applied 9-19-07 877-875-8096
instant results: additional processing required 7-10 days
deferred results: Declined Too many inquiries

statefarm good neighbor 9months 0btfee
instant results: 7-10 days
Deferred Results: Declined Too many inquiries

wachovia visa card (0%/6mo/0fee)
instant results: deferred
deferred results: Approved $5k CL

Wells Fargo Platinum Cash.Back (0%/6mo/$0BTfee)
instant Results: deferred
deferred results: Declined can only have 1 WF card




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Free Roundtrip Airline Ticket Plus $100 Dollar Gift Card From Amex Business Gold

American Express Business Gold Card just made their promotional bonus even sweeter. As i listed in $800 dollar business credit card bonuses, Amex Gold increased the offer to include a $100 dollar gift card in addition to the roundtrip domestic airline ticket worth $250 dollars or 25,000 membership points. Offer posts to your account after your first purchase. Your giftcard emailed to the address used to apply for the promotion within 4 to 6 weeks after you are approved.
Link to the Amex Offer




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Earn 40,000 Points From Starwood Amex After Spending $15k in 6 Months

Starwood Preferred Guest American Express Card - 1 point per $1 spent. 20,000 Starwood points = 25,000 airline miles (free ticket). You can get 10,000 points or $100 gift certificate. (to stores like Amazon.com) just for signing up and making a purchase. Right now, you can also get an additional 15,000 points by spending $15,000 on the card within the first 6 months. This card is great for people who like to travel and make the most of their existing frequent flier miles, and can be very useful for getting miles for many different airlines like Delta, American, and more. If you redeem for hotel rooms, you can get a cashback return of 6% or more. Annual fee is waived for the first year, and is $45 the second year if you keep it. Check my $800 Dollars in credit card sign up bonuses post.





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How to Make a Million Dollars Online: Part 1

Byron Reese Started his company, SantaMail.org, which sells fully personalized letters from Santa Claus all across North America (they're even postmarked from North Pole, Alaska, to give them an authentic feeling). Reese sold 10,000 letters in 2001, his first year in business. Though holiday sales have increased every subsequent year, he still looked for ways to expand his offering. Now, parents can order birthday cards for their children from Santa as well. The strategy pushed 2005 sales to $1 million.


Still, the key to Reese's success is organization. After realizing he and his staff didn't want to pull the marathon 36-hour shifts they did the first year, he looked to outside vendors to help with the yearly rush. He also deals with any problems as soon as the rush is over, and then starts planning for the next year. By February, he's up and running. "The temptation is to not start working until you get close to that season, and we've made that mistake in the past," says Reese, 37. "Things always take a lot longer than you think they're going to take. We find it much better to work steadily."

"When I was a child, my parents would give us letters from Santa. My mom died three and a half years ago, and I wanted to do this to honor her," says Byron. "I entered it with low expectations, but we sold 10,000 the first year." The magic of Christmas is a serious trust to Byron, so he implemented a rigorous quality-control program that has multiple people (his elves) checking each letter, ensuring complete accuracy on each one, as well as on a birthday card from Santa and the post-Christmas 'Greetings from Hawaii' postcard from a tanned, beach-bound Santa.

Byron's childhood Christmas memories include installing 200 strings of Christmas lights and decorating dozens of Christmas cookies each year. He loves the look on the postman's face when he goes to buy 40,000 Santa stamps at the post office each Christmas. What's next on this Christmas devotee's agenda?
"Someday I hope to deliver coolers of snow to people in hot climates."

www.santamail.org



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What's It Like to Be a Crazy Rich American Inventor

Scott Jones thinks up more ideas in a month than most folks do in a lifetime. Find out how he makes them pay.

(FSB Magazine) Indianapolis -- You probably don't know the name Scott Jones, but chances are his life has touched yours. Checked your voicemail lately? You've got Jones to thank. Pop a CD in your computer, and iTunes brings up the track names. That feature comes from another of Jones's companies, Gracenote. When Indiana last year adopted daylight savings time, it was Jones who pushed hardest for the change. The roller coaster at the Indianapolis Zoo? Jones. Dinosaur skeletons at the Children's Museum of Indianapolis? Made possible in part by the Scott A. Jones Foundation.

Most folks in the Indianapolis suburb of Carmel (pronounced like the candy) know their wealthy, energetic neighbor as "the guy who invented voicemail." In the early '90s Jones made about $50 million on his company, which created the predominate form of voicemail, and he "retired" at age 31. But he found he wasn't the kind of entrepreneur who could just fly off into the sunset in his helicopter. Over the past two decades this driven inventor has been generating ideas for new products and companies - some were successful, others hit the scrap heap - at a pace that would make Thomas Edison's head spin.

Jones's latest company, ChaCha (chacha.com), is developing a potential rival to Google - a search engine assisted by human experts who will help you find your answer. And here's what Jones claims to have on deck: self-propelled robotic lawn mowers, a method to sequence your entire DNA in one minute, a way to make humans fly.

From anyone else these might seem the ravings of a madman. But Jones backs up his ideas with a fortune he estimates to be worth $150 million, a brain that lets him keep pace with the geekiest of scientists, and a knack for managing startups. His ambition is to change the way people live, and he figures that any one of his half a dozen or so new startups could do just that.

We were intrigued by his latest ideas, but even more so by how he conjures them, culls them, and inspires a team to nurture them. Just what, we wondered, goes on inside the head of this quintessential American inventor?
Via CNNmoney.com



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Don't Write $100,000 Dollar Checks You Don't Want Cashed, Especially to Your Future Ex-Girlfriend

September 30, 2007 -- A hard-partying Wall Street trader and his ex-girlfriend are in court over an allegedly broken $100,000 promise to keep on the straight and narrow.
In recently filed court papers, Elisa Kwon accuses her former beau Greg Calvino, 45, of reneg ing on a pledge he had made to not "use drugs, stay out late, frequent strippers or prosti tutes." The 30-something Kwon insists Calvino had vowed that if he ever did any of those things again, she could cash a $100,000 check he had made out to her.

After Calvino's allegedly debauched boys' night out at a strip club in March 2005, that's just what Kwon did.

But a fuming Calvino filed suit in Manhattan Supreme Court in late July to get his money back - plus interest, legal fees and damages - claiming the whole thing is an extortion attempt.



Calvino claims Kwon had threatened to go to his bosses at RBC Capital Markets, where he was a stock trader at the time of the intemperate night out, and make up tales of drug use "with strippers and whores." He claims he wrote the $100,000 check to protect his career and reputation, and that she cashed it for no apparent reason.

But Kwon, in a motion to dismiss filed on Sept. 20, said Calvino's drug use and wild ways with women entitled her to the money. She said she cashed the check in November 2005, after he went out with fellow RBC traders to ogle the girls at Flashdancers and do cocaine that March.

What's more, he failed a store-bought drug test of his urine, she claims.

In an affidavit, Kwon attached what she claims is the text of a long instant-message conversation she had with Calvino in which he appears to cop to doing drugs and visiting strip clubs and tells her to keep the cash.

After initially writing that he was "sorry I was irresponsible last night - but I didn't do the bad stuff," and that he was not "stupid enough to jeopardize our future," Calvino explains he was only "drunk/bombed [on] Jack [Daniels]," according to the text transcript.

Kwon reminds him of the "$25 Rite-Aid" test - "it's POSITIVE."

Calvino then appears to blame one of his trading buddies: "He put it in my face."

Later in the instant-message exchange, Calvino confesses to going to Flashdancers after a charity event with four colleagues, the text shows

An RBC spokesman did not immediately comment.

An apparently contrite Calvino later writes to Kwon, "A promise is a promise," according to the text.

He also allegedly writes, "I didn't hold up my end of the bargain," and "If you want to keep my money it's yours to start anew."

Calvino, who has since moved to Thomas Weisel Partners, did not reply to calls or e-mail requesting comment. His lawyer also didn't return calls.

Kwon did not reply to an e-mail seeking comment. Her lawyer, Zachary Margulis-Ohnuma, declined to comment.

Calvino and Kwon, who dated for two years, broke up in April 2006
Via NY Post



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Clarity for a Gold Digger: What Happens if You View Marriage Like a Business Proposal

Found This Post in a Forum and i just thought it was so absolutely golden that i had to share it. Someone posted a copy of an ad via New York Craigslist. What's even more entertaining is the reply to the ad at the bottom:

MORE advice for woman seeking $500k+ earning man
What am I doing wrong?

Okay, I’m tired of beating around the bush. I’m a beautiful (spectacularly beautiful) 25 year old girl. I’m articulate and classy.
I’m not from New York . I’m looking to get married to a guy who makes at least half a million a year. I know how that sounds, but keep in mind that a million a year is middle class in New York City, so I don’t think I’m overreaching at all.

Are there any guys who make 500K or more on this board? Any wives? Could you send me some tips? I dated a business man who makes average around 200 - 250. But that’s where I seem to hit a roadblock. 250,000 won’t get me to central park west. I know a woman in my yoga class who was married to an investment banker and lives in Tribeca, and she’s not as pretty as I am, nor is she a great genius. So what is she doing right? How do I get to her level?

Here are my questions specifically:

- Where do you single rich men hang out? Give me specifics- bars, restaurants, gyms

-What are you looking for in a mate? Be honest guys, you won’t hurt my feelings

-Is there an age range I should be targeting (I’m 25)?

- Why are some of the women living lavish lifestyles on the upper east side so plain? I’ve seen really ‘plain jane’ boring types who have nothing to offer married to incredibly wealthy guys. I’ve seen drop dead gorgeous girls in singles bars in the east village. What’s the story there?

- Jobs I should look out for? Everyone knows - lawyer, investment banker, doctor. How much do those guys really make? And where do they hang out? Where do the hedge fund guys hang out?

- How you decide marriage vs. just a girlfriend? I am looking for MARRIAGE ONLY

Please hold your insults - I’m putting myself out there in an honest way. Most beautiful women are superficial; at least I’m being up front about it. I wouldn’t be searching for these kind of guys if I wasn’t able to match them - in looks, culture, sophistication, and keeping a nice home and hearth.

it’s NOT ok to contact this poster with services or other commercial interests
PostingID: 432279810

THE ANSWER
Dear Pers-431649184:

I read your posting with great interest and have thought meaningfully about your dilemma. I offer the following analysis of your predicament.
Firstly, I’m not wasting your time, I qualify as a guy who fits your bill; that is I make more than $500K per year. That said here’s how I see it.

Your offer, from the prospective of a guy like me, is plain and simple a crappy business deal. Here’s why. Cutting through all the B.S., what you suggest is a simple trade: you bring your looks to the party and I bring my money. Fine, simple. But here’s the rub, your looks will fade and my money will likely continue into perpetuity…in fact, it is very likely that my income increases but it is an absolute certainty that you won’t be getting any more beautiful!

So, in economic terms you are a depreciating asset and I am an earning asset. Not only are you a depreciating asset, your depreciation accelerates! Let me explain, you’re 25 now and will likely stay pretty hot for the next 5 years, but less so each year. Then the fade begins in earnest. By 35 stick a fork in you!

So in Wall Street terms, we would call you a trading position, not a buy and hold…hence the rub…marriage. It doesn’t make good business sense to “buy you” (which is what you’re asking) so I’d rather lease. In case you think I’m being cruel, I would say the following. If my money were to go away, so would you, so when your beauty fades I need an out. It’s as simple as that. So a deal that makes sense is dating, not marriage.

Separately, I was taught early in my career about efficient markets. So, I wonder why a girl as “articulate, classy and spectacularly beautiful”
as you has been unable to find your sugar daddy. I find it hard to believe that if you are as gorgeous as you say you are that the $500K hasn’t found you, if not only for a tryout.

By the way, you could always find a way to make your own money and then we wouldn’t need to have this difficult conversation.

With all that said, I must say you’re going about it the right way.
Classic “pump and dump.”
I hope this is helpful, and if you want to enter into some sort of lease, let me know.
Via bogleheads forum



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Free Nintendo Wii Remote Jackets **Requires Serial #**

Nintendo is now including the Wii Remote Jacket for the Wii Remotes in all new hardware being shipped. For Wii owners who purchased their systems prior to this addition, we are offering to send free Wii Remote Jackets for their existing Wii Remotes. If you would like to request a Wii Remote Jacket, please start by completing the information form below.
They will begin shipping Wii Remote Jackets on October 15th, 2007. Once your Wii Remote Jacket has shipped, you will receive a confirmation email from Nintendo. After that point, it may still take another 5 to 10 days for delivery depending on your location. Please do not contact Nintendo regarding your Wii Remote Jacket order until after that time period has passed.

Here is the website http://www.nintendo.com/consumer/jacket/jacketrequest.jsp

Click here if you have already submitted and want to check the status of your order.






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Free Medium 1 Topping Pizza at Dominos.com With Code

Apparently there is such thing as free lunch. Right now, for an indefinate period of time Dominos.com is offering a free 1 topping medium pizza for delivery or take out. I ordered one last night and i just ordered my second free pizza for dinner tonight. All you do is Enter promo code "click" for a free medium 1 topping pizza when you order online www.dominos.com . If you pick "Extra" in the amount of toppings, they charge extra. Otherwise it should be totally free, plus tax based on the regular price. My pizza came out to $1.52 delivered to my doorstep both times. However the code doesnt work for all the stores. Read below for the comprehensive list of all the stores that have been confirmed to not accept/accept the code:

NOT WORKING

Albuquerque, NM 87108, 87114
Alexandria, VA 22302 Not working
Alexandria, VA 22314 #4363 Not working
Algonquin, IL NO
Alpharetta, GA 30005 Not Working
Amherst, MA 01003 Not Working
Ann Arbor, MI 48104 Not Working
Ashburn, VA 20147 Not Working
Athens, GA 30606 (3 stores) Not working
Atlanta, GA 30319 (Buford Highway) Not working
Atlantic Highlands, NJ
Austin, TX 78727 Not working
Arlington, TX 76018 Not Working
Arlington, VA 22204 Not working
Arlington, VA 22206 Not working
Arlington, VA 22207 Not working
Baton Rouge, LA 70820 Not working
Bellevue WA 98007 Not Working
Bensalem,PA 19020 offer not available
Blacksburg, VA Not Wroking
Boston, MA 02114, 02215
Boulder, CO 80302
Bowie, MD 20716
Burbank CA 91505
Buffalo NY 14226 - Not working
Burlington, WI 53185 - Not working
Camarillo,CA -93010/12 - Not working
Cape Girardeau, MO 63701 Not Working
Carrollton, TX 75006 - NO GO
Carlsbad, CA 92008 - Not working
Cary, NC 27511, 27513, 27519 - Not working
Casselberry, FL 32707
Centreville, VA 20120 (Store #4385)
Charleston, IL 61920 Not Working
Charlotte, NC Not Working
Charlottesville, VA 22903 Not Working
Cheyenne, WY 82001 Not Working
Chula Vista, CA 91910
Chicago, IL 60656 Not Working
Chico, CA Not Working
Clemson, SC Not working
Coatesville, PA - No go
Columbus, Ohio 43229- Not Working
College Station, TX 77840 - Not Working
Corona, CA 92881 - Not Working
Crown Point, IN 46307 Not Working
Cumberland, RI 02864
Dallas, TX 75230 - 75 & Walnut Hill - Not working
Dallas, TX 75246 Not working
Denver, CO 80205 - Not working
Des Moines, IA 50315
Duluth, GA 30097 Not Working
El Monte, CA 91732 (# 8110)
Evanston, IL 60202 Not working
Fair Lawn, NJ 07410 (Store #4566)
Fairfax, VA 22031 Not working
Fargo, ND 58102
Fayetteville, AR 72701 (Store #5300)
Fort Worth, TX 76134
Framingham, MA
Gainesville, FL 32603 - Not Working
Gardena,CA 90249 Not Working
Hammond, IN 46323 Not Working
Hendersonville, NC 28790 - Not Working
Hillsboro, OR 97124 Not Working
Highland Village, TX 75077 (Store #6978) - Not Working
Houston, TX 77096 - Not working
Houston, TX 77004 - (Rice @ Kirby)
Houston, TX 77004 - (Elgin @ Scott)
Jacksonville, FL 32207
Indianapolis, IN 46204 - No workie
Irmo, SC 29063 - Not working
Irvine, CA 92714 (Store #8403) - Not Working
Isla Vista, CA 93117
Kansas City, KS 66062 - No Go
Keansburg, NJ
Lafayette, IN - Not Working
Lansing, MI Not Working
Ledgewood, NJ - No go
Lexington, KY 40509 - Not Working
Liberty, SC not working
Little Rock Metro Area 72201 - Not Working
Los Angeles, CA 90065 and 90045 Not Working
Madison, WI 53703 Not Working
Marietta, GA 30066 Not Working
Marlboro, NJ 07751 Not Working
Matawan, NJ 07747 Not Working
Mattoon, IL Not Working
McAllen, TX - Not Working.
Medford, MA 02155 and surrounding Not Working
Melbourne, FL not working
Midland, MI not working
Milwaukee, WI 53202 Not Working
Missouri City, TX - 77459 (hwy 6 @ glenns lake)
Mountain Home, AR 72653
Morganton, NC 28655 not working
Murrieta CA 92563 Not Working
Myrtle Beach, SC Not Working
Naperville, IL 60563
Needham, MA
Newark, NJ 07107
New Brighton, MN 55112
New York, NY 10027
New York, NY 10011
Norristown, PA 19403
North Bergen, NJ
Nuuanu, HI 96817
Oakland ,CA 94607
Olathe,KS 66062 Not Working
Orlando, FL 32817 Not Working
Overland Park, KS 66213 NOT WORKING
Paterson, NJ 07505
Pawtucket, RI 02860
Philadelphia, PA 19104
Portland, OR 97220, 97203, 97217, 97219, 97225, 97239 Not Working
Portsmouth, Va 23703 Not Working
Prescott Valley, AZ 86314 Not Working
Raleigh, NC 27604 (#5500) Not working
Richmond, TX 77469
Red Bank, NJ - Not Working
Red Bluff, CA - Not Working
Redding, CA - Not Working
Reston, VA 20194 Not Working
Rochester, NY area (no ROC stores accept orders online)
Rockville, MD 20850
Roseville, CA 95678 Not Working
Round Rock, TX 78681 Not Working
Royal Palm Beach, FL 33411 Not Working
Saint Charles, MO 63303 Not Working
San Antonio, TX 78212 Not Working
Santa Cruz, CA 95060
San Jose, CA 95112 Not Working
San Diego, CA (Clairemont Mesa store) and 92109, 92101, 92104, 92126, 92128, 92009 Not Working
San Francisco, CA 94116 Not Working
San Francisco, CA 94131
Schaumburg, IL 60193
Scranton, PA 18510 Not working
Sherman Oaks CA 91403
Sherwood, OR 97140 Not Working
South Windsor, CT 06074
Statesboro Ga 30458
Sugar Land, TX 77479 (Highway 6 on Lexington Blvd)
St. Louis, MO 63105 - Not working.
St. Petersburg, FL
Stillwater, OK - Not Working
Suffolk, VA 23434 Not working
Sulphur Springs, TX 75482 Not Working
Sun Prairie, WI 53590 Not Working
Suwanee, GA 30024 Not Working
Toluca Lake CA 91505
Toledo,OH
Traverse City, MI 49684 Not Working
Tucson, AZ 85712 Not Working
Tulsa, OK 74104 Not Working
Tumwater, WA 98512 Not Working
Union City, NJ 07086 not working
Vancouver, WA 98661 not working
Voorhees, NJ 08043 Not Working
White Plains NY 10603 Not Working
Warwick, RI 02888 Not Working
Washingotn, DC 20007 Not Working
Waukegan IL 60085 Not working
Wheeling, IL 60090 Not Working
Williamsburg, VA 23185 Not Working
Winston-Salem, NC Not Working
Woodstock, GA Not Working
Worcester, MA Not Working
New Britain, CT Not Working


WORKING

11421
91776
92835
Arcadia, CA
Athens, GA
Auburn, Alabama (36830)
Baltimore, MD 21211
Baltimore, MD 21221
Boynton Beach, FL (Store #3803)
Boynton Beach, FL (Store #3803)
Bronx, NY
Brooklyn Heights 11201
Brooklyn, NY 11215 (Store #3650)
Brooklyn, NY 11218 (Store #3647)
Chandler, AZ (85249)
Chesapeake, VA (Store #4209)
Chicago, IL (Store #?? 2455 W FULLERTON AVE.)
Columbia, MD
Columbus GA
Costa Mesa, CA (#8477)
Deer Park, TX (Store #6000)
downtown Atlanta (Store #5708).
Ellicott City, MD (Store #4620)
Flushing, NY 11354
Fountain valley, CA
Griffin, GA
Henderson, NV
Homestead, FL 33032 (#3128)
Houston, TX 77064 Jones and West Rd
Houston,TX 77010 (#6273)
Houston, TX 77089 #6691
Houston, TX 77055 (Wirt Rd)
Houston, TX 77057 (westheimer)
Houston, TX (Store #6659)
Houston, TX 77058 #6677 (el dorado blvd.); others for pickup only
Houston, TX 77019 W.Grey @ Waugh
Houston, TX (Store #6791) 77095
Houston, TX (Store #6556) Spring - 77388
Huntington Beach, CA (Beach Blvd)
Inver Grove Heights, MN 55076
jacksonville, nc
Kent, WA
LaPorte, TX 77571 (Spencer Hwy)
Las Vegas, NV
Las Vegas, NV (Store #7459)
Layton, Utah
Lehi, UT, 84043
Mesa, AZ
Miami Florida
Murray, UT
Newnan, GA
Newport News, VA (Store #4305)
Ogden, UT
Orange, CA
Orem Utah 84058
Parma Heights, OH 44130
Parsippany,NJ(07054)Store (#4571)
Pasadena, CA 91107
Pasadena, CA Store (#8141)
Pembroke Pines Florida
Phoenix, AZ (85044, 85048, 85213, 85281, 85287, 85015)
Provo, UT (84601)
Richmond, VA
Riverton, UT
Riverton, UT (Store #7532)
Rochester, MN 55901
Rosemead, CA 91770
Roy Utah 84067
Saint Paul, MN 55104
Scottsdale, AZ - Hayden & Indian Bend. In Albertson's Shopping Center
Seattle, WA (98121)
South El Monte, CA
South Ogden, UT
Staten Island, NY 10312 & 10305
Tacoma, WA 98433 <-- Fort Lewis!
Tempe, AZ (All locations)
Temple City, CA
Tustin, CA (Store #7893)
Tustin, CA (Store #7893)
westminster, ca
Marietta, GA, 30339
Phoenix, AZ (All locations)
Minneapolis, MN (#1947)
Smyrna, GA (S. Cobb Dr.)
Weston, FL




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