Targeted Shopping

Google’s New Phone

Stay tuned for Google’s announcement today of their highly anticipated competitor to the iPhone!

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Learn a Useful Language

Although many of us do not want to admit it, the U.S. has become a weak link in the global economy due to governmental mismanagement by obvious players. The 5 largest American investment banks don’t even exist anymore! Why? Whose fault is it? Does BUSH ring a bell? How ’bout the American government? Anyway, while the U.S. is withering away in power on various levels (and has practically become a “Banana Republic” no thanks to Dubya), China has suddenly gained an enormous financial and social level, never before experienced in history. Their power sort of crept up on us, didn’t it? Pretty amazing, huh?

I find it very unpleasant that this has happened and I am fairly bitter that China produces practically everything on earth and the quality is crap, and sometimes they decide to put toxic chemicals in foods and baby toys, furniture etc., but whatever. The world allowed this and so must assume its actions. What’s to do now?

Adjust to it, whether reluctant or not. China is here to stay and if we can’t accept that, we’ll have to move to another planet. For businesses, I’d think something like language learning would be in order. Billions of people on earth speak Chinese, and to grow your business internationally, you would be remiss to avoid China. That being said, they have a reputation of working unethically and dishonestly. That happens everywhere, so if you do your homework, you should be able to locate the best people to work with you and your company. While English is a language of business, many Chinese people do not speak it and so if you’d like to do business with them, you will have to take the initiative and learn Chinese. A few courses can do wonders.

Who has time to learn a language? I know, it takes time but if you get excellent language learning DVDs, you can work with your own schedule and Learn Chinese at your own pace.

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10 Important Things Your Bank Will Not Tell You…But Should

From smartmoney:

“1. “Our branches are there to sell you, not serve you.”
In the late 1990s bank branches were considered outmoded relics soon to be replaced by ATMs and Internet banking. But just the opposite happened: In 1998 there were 89,000 bank branches in the U.S.; by 2007 there were 97,000. Why? The industry realized consumer banking was profitable and that despite the predictions of Silicon Valley wonks, the main criterion consumers use in choosing a bank is proximity, says SNL Financial analyst Jennifer Payne.

But branches aren’t just about convenience; they’re a bank’s primary sales floor. Brochures for services as varied as retirement accounts and home loans are on display, and everyone from the teller on up is trained to make a sale. That’s because in the current low-interest-rate climate, it’s harder to generate revenue from interest alone. Many players in the industry have been trying to boost fee- and service-based income, so if a teller sees you have a mortgage, he might suggest you meet with a loan officer to discuss a home-equity loan. Says Greg McBride, a senior financial analyst at Bankrate.com, “The more products a customer has with a bank, the more likely he is to stay with that bank.”

2. “Our fees will only go up.”
With the economy slowing and big losses looming in the mortgage market, banks are looking for reliable revenue streams. Hence punitive fees — for overdrawing your account, say, or using a competitor’s ATM — are increasing. The average ATM service charge doubled between 1998 and 2007, and overdraft fees brought in $17.5 billion in revenue in 2006, up from $10.3 billion in 2004, according to the Center for Responsible Lending. Rubecca Hegarty, a married mother of three in Woodridge, Ill., says she often pays upwards of $100 a month in overdraft fees to Chase, since, like most banks, it changes the order of purchases so that large debts get paid first — increasing the likelihood of incurring fees on smaller purchases. JPMorgan Chase says it does this because big payments like a mortgage are more important to consumers, so they get priority.

Revenue from penalties can be addictive for banks, says Harvard Business School Professor Gail McGovern, but “they’re going to face problems from angry customers, which leads to big call-center bills, employee dissatisfaction and turnover.”

3. “We change our interest rates all the time.”
Regardless of what your credit card agreement says, you can never be sure how much interest banks will charge you. For example, nearly all cards have a default rate — as high as 30 percent — which banks apply when you’ve done something wrong, usually after two late payments in 12 months. But some banks have cut that to one, says Curtis Arnold, founder of CardRatings.com.
Banks can also change the terms of your agreement, raising rates when they like (though you can opt out and pay off the balance at the old rate as long as you never use the card again). Bank of America did that recently, upping many cardholders’ rates from 10 or 12 percent to 27 percent or more, even though they’d done nothing wrong. “There’s no clarity on what criteria can lead a bank to raise interest rates,” says Robert Manning, director of the Center for Consumer Financial Services at the Rochester Institute of Technology. “It’s a black box.” A Bank of America spokesperson says the company periodically reviews the credit risk of its accounts and adjusts rates accordingly, adding that in the past year 94 percent have had no increase.

4. “College campuses are a gold mine for us.”
Students are the customers of the future, and banks are increasingly courting them, sometimes right on campus. More than 120 universities have cut deals with banks to issue student-ID cards that are also ATM and check cards. Schools can make millions from these deals, sometimes even taking a small cut of individual purchases.

tudents are also a hot market for credit card issuers; banks will make private deals with alumni associations to get contact info for students, parents and even ticket buyers to university athletic events. Card companies cut deals to set up booths on campus, and Chase even inked a deal with Facebook to display ads and set up a Chase group on its Web site.

The problem? Mounting credit card debt among college kids, for one. “Universities don’t negotiate on behalf of students,” says Manning. “They’re negotiating the best deal for the university.” A spokesperson for the National Association of Independent Colleges and Universities says don’t blame schools — banks would market to students anyway, and universities at least try to get the best rates they can for students.

5. “In debt? The courts won’t help.”
Since the late 1990s banks have been including mandatory arbitration agreements in their contracts for many of their products, including auto loans, checking accounts, home-equity loans and credit cards. Such agreements prohibit you from suing and instead require you to use an arbitrator — someone picked by the arbitration firm named in your credit card contract to hear the dispute and decide the outcome.

While these clauses were originally designed to thwart class-action suits, the banks have also been using them for debt collection, says Paul Bland, anattorney with consumer-advocacy group Public Justice. There are even times when consumers, often victims of identity theft and unaware of the debt, aren’t present when awards are handed down against them.

A recent suit against an arbitration firm brought by the San Francisco city attorney noted that arbitrators ruled in favor of banks in 100 percent of the 18,045 California cases brought against consumers from January 2003 through March 2007. “From the consumer perspective, it’s a nightmare,” says Bland. If a bank brings arbitration against you, hire a lawyer and request a hearing — in person…..” Read the rest

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Smart Marketing Gets Customers to Buy your Products

Leave marketing strategies to professionals because experts know best how to help you get your company’s brand noticed. Specialists like Avrett Free Ginsberg in New York helmed by Frank Ginsberg, can take an ad campaign by the horns, and get people to focus on your image, your brand and your products. What takes place afterward is obvious: your product becomes stamped on the minds of consumers creating a brand recognition effect, which will lead to more interest in your products, which ultimately leads to an increase in sales. It takes great marketers with great ideas to create a campaign that will sell your product, no matter which industry you take part in. As time goes by and competition becomes fierce, the world presents itself in a way where differentiating your company is necessary. Modern times call for innovative and evolving advertising and marketing strategies, and with the help of ad agencies, your company will quickly follow the road to success.

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