The people want an empire, apparently, with that unassuming little black VW bug at the head of it.
The U.K.’s Guardian explains, "Volkswagen-Porsche has overtaken Toyota to become the world's largest car manufacturer as the German group benefits from state-backed stimulus packages around the globe." VW has "produced 4.4 million vehicles so far this year, outstripping its Japanese rival which has seen four million cars roll off production lines since January."
Ironically, VW reached the milestone in part by taking over Porsche – which it was forced to do after Porsche failed in an attempt to take over VW earlier this year.
"Of course," Autoblog notes, there is "some number play involved" in the Guardian’s numbers. "We're talking about the combined entity VW-Porsche, which has built 4.4 million cars to date, which is roughly 400,000 beyond Toyota's mark. However, Toyota halved its production earlier this year and shut down all its plants in February." VW also "benefited much more than Toyota from the European cash-for-clunkers programs," though Toyota saw more sales than VW spurred by the U.S. version of the car-swap program.
The news doesn’t just push Toyota down a notch. Jalopnik notes that VW has "passed Toyota and GM at the top of the heap." America’s largest automaker – the world’s largest just three years ago – now sits in third globally.
The change may not be permanent. The Guardian notes that Toyota "has the capacity to make 10 million vehicles a year but it expects to make seven million vehicles in 2009" as production picks back up. VW, however, may see its production increase long-term enough to stay ahead, or at least to take the title again even if it loses it later this year.
After all, Autoblog notes, "VW's also got the edge on Toyota" in the huge Chinese market, "where it has spent years introducing models."
Wednesday, November 11, 2009
Saturday, November 7, 2009
Fight stress and depression with five nutrient-buffed snacks
Sorry, ice cream isn't on the list! But the following foods do have nutrients that can help fight stress and depression, says Elizabeth Somer, RD, author of Eat Your Way to Happiness.
Food: Oranges, lemons and other citrus fruits
Mood-Boosting Ingredient: Vitamin C
This vitamin helps you cope better in stressful times by lowering your levels of stress hormones. If you get a lot regularly, you'll feel calmer during tough situations.
Food: Nuts
Mood-Boosting Ingredients: Vitamin E, arginine (an amino acid) and magnesium
A handful of nuts will keep you full and satisfied because they have a low glycemic index-which means they don't jack up your blood sugar levels and cause mood swings. It also makes you feel good to eat something that seems decadent (they're considered a little bit naughty because they're high in fat) but actually has health benefits.
Food: Leafy greens
Mood-Boosting Ingredient: Folic Acid
Research has shown that the folic acid in leafy greens such as kale and spinach can reduce depression and even improve blood flow to the brain. If you're not eating at least one serving per day you're more than likely low in folic acid, so try getting more or consider taking a multivitamin that contains it.
Food: Salmon
Mood-Boosting Ingredient: DHA (an omega-3 fatty acid)
The omega-3s in fatty fish such as salmon, mackerel and sardines have been found to improve your mood while lowering the risk of depression and age-related memory loss. The depression link is so strong that American Psychiatric Association suggests that anyone taking antidepressants and/or going through therapy also boost her intake of omega 3s.
Food: Dried cherries
Mood-Boosting Ingredients: Potassium, magnesium and vitamin C
These nutrients all work to curb your body's stress response. Dried cherries also keep your brain healthy because they're packed with antioxidants (including vitamin C), which prevent damage to your brain cells that can lead to memory problems.
Food: Oranges, lemons and other citrus fruits
Mood-Boosting Ingredient: Vitamin C
This vitamin helps you cope better in stressful times by lowering your levels of stress hormones. If you get a lot regularly, you'll feel calmer during tough situations.
Food: Nuts
Mood-Boosting Ingredients: Vitamin E, arginine (an amino acid) and magnesium
A handful of nuts will keep you full and satisfied because they have a low glycemic index-which means they don't jack up your blood sugar levels and cause mood swings. It also makes you feel good to eat something that seems decadent (they're considered a little bit naughty because they're high in fat) but actually has health benefits.
Food: Leafy greens
Mood-Boosting Ingredient: Folic Acid
Research has shown that the folic acid in leafy greens such as kale and spinach can reduce depression and even improve blood flow to the brain. If you're not eating at least one serving per day you're more than likely low in folic acid, so try getting more or consider taking a multivitamin that contains it.
Food: Salmon
Mood-Boosting Ingredient: DHA (an omega-3 fatty acid)
The omega-3s in fatty fish such as salmon, mackerel and sardines have been found to improve your mood while lowering the risk of depression and age-related memory loss. The depression link is so strong that American Psychiatric Association suggests that anyone taking antidepressants and/or going through therapy also boost her intake of omega 3s.
Food: Dried cherries
Mood-Boosting Ingredients: Potassium, magnesium and vitamin C
These nutrients all work to curb your body's stress response. Dried cherries also keep your brain healthy because they're packed with antioxidants (including vitamin C), which prevent damage to your brain cells that can lead to memory problems.
Friday, November 6, 2009
The Top 6 Reasons Kids Have Tantrums
The best way to prevent tantrums is to know what triggers them. Lots of kids get irritable when they're hungry or tired, but those aren't the only situations that will spark meltdowns. Psychologist Jed Baker, the author of No More Meltdowns, offers a guided tour of the six most-common triggers, with tips on avoiding each tearjerker:
1. Biological issues
Some kids become especially irritable when they're hungry or tired. That's why it’s always a good idea to take favorite snacks along on outings; you can even pull them out when waiting for meals at restaurants. To keep children from becoming too tired, build some rest time into your plans and don’t overschedule their days. Last, consider what kind of stimulation your kids can tolerate — some like loud amusement parks, while others need quieter activities to keep them happy.
2. Lack of structure
Having nothing to do for too long a period of time is a recipe for trouble. Kids will create their own structure if you don’t, and this sometimes means arguing with each other or otherwise acting out. Create a "Things To Do" box with puzzles, games, art projects, books, videos and other calming activities for the downtime between scheduled activities. Take smaller versions along on long car rides or for destinations with long waiting lines.
3. Demands
Many kids find it stressful to be told to do homework or chores, or to try a new activity. So when it's time for them to do their chores or homework, make a game of it, with rewards for completing each part of the task. If kids are afraid to try something new, don’t force them — instead help them gradually overcome reluctance by letting them watch the activity first, then asking them to participate for a very short period of time.
4. Waiting
Some kids melt down when they don't get what they want, or have to stop doing something fun. It is easier for kids to wait for what they want if they know exactly when they'll get it, so keep a timer or clock on hand. If you know you are going someplace where they will want something they cannot have, tell them ahead of time; suggest that if they get through the outing without complaint, they can get something else. When kids resist stopping a fun activity, try to make the transition easier. For example, as a reward for leaving the playground and going home without incident, stop for a small ice-cream treat.
5. Threats to self-esteem
Some kids are perfectionists and cannot stand making a mistake on their homework or losing a board game. Remind such kids before an activity that you are more interested in their efforts or their sportsmanship than whether they do things perfectly. Promise rewards if they don't get upset when they lose a game.
6. Unmet wishes for attention
Some children fall apart when adults ignore them to attend to siblings or other adults. Children can wait for your attention more successfully when they know exactly when they will get it — again, a timer or clock can be helpful. If you are occupied with something important, ask them to stay near you while they wait; often, that closeness is enough to satisfy them for a while. Also, teach kids the correct ways to ask for attention, and to sit patiently rather than getting mad or acting out. If the kids ask nicely to play, then give them the attention they crave. After all, this is the most valuable gift you can offer them
1. Biological issues
Some kids become especially irritable when they're hungry or tired. That's why it’s always a good idea to take favorite snacks along on outings; you can even pull them out when waiting for meals at restaurants. To keep children from becoming too tired, build some rest time into your plans and don’t overschedule their days. Last, consider what kind of stimulation your kids can tolerate — some like loud amusement parks, while others need quieter activities to keep them happy.
2. Lack of structure
Having nothing to do for too long a period of time is a recipe for trouble. Kids will create their own structure if you don’t, and this sometimes means arguing with each other or otherwise acting out. Create a "Things To Do" box with puzzles, games, art projects, books, videos and other calming activities for the downtime between scheduled activities. Take smaller versions along on long car rides or for destinations with long waiting lines.
3. Demands
Many kids find it stressful to be told to do homework or chores, or to try a new activity. So when it's time for them to do their chores or homework, make a game of it, with rewards for completing each part of the task. If kids are afraid to try something new, don’t force them — instead help them gradually overcome reluctance by letting them watch the activity first, then asking them to participate for a very short period of time.
4. Waiting
Some kids melt down when they don't get what they want, or have to stop doing something fun. It is easier for kids to wait for what they want if they know exactly when they'll get it, so keep a timer or clock on hand. If you know you are going someplace where they will want something they cannot have, tell them ahead of time; suggest that if they get through the outing without complaint, they can get something else. When kids resist stopping a fun activity, try to make the transition easier. For example, as a reward for leaving the playground and going home without incident, stop for a small ice-cream treat.
5. Threats to self-esteem
Some kids are perfectionists and cannot stand making a mistake on their homework or losing a board game. Remind such kids before an activity that you are more interested in their efforts or their sportsmanship than whether they do things perfectly. Promise rewards if they don't get upset when they lose a game.
6. Unmet wishes for attention
Some children fall apart when adults ignore them to attend to siblings or other adults. Children can wait for your attention more successfully when they know exactly when they will get it — again, a timer or clock can be helpful. If you are occupied with something important, ask them to stay near you while they wait; often, that closeness is enough to satisfy them for a while. Also, teach kids the correct ways to ask for attention, and to sit patiently rather than getting mad or acting out. If the kids ask nicely to play, then give them the attention they crave. After all, this is the most valuable gift you can offer them
Thursday, November 5, 2009
Despite millions of job seekers, many positions sit open
Despite millions of unemployed job seekers desperate for work, many open positions are languishing unfilled. The reason? Not enough candidates.
With job openings largely concentrated in specialized industries like health care, green technology and energy, some employers say the problem is finding qualified workers, which are in short supply. Meanwhile, they are inundated with eager candidates from other industries who lack the skills and experience that the job requires.
According to a recent survey by Human Capital Institute and TheLadders, more than half of employers said "quality of candidates" or "availability of candidates" are their greatest challenges -- despite the recession.
Mary Willoughby, the director of human resources at the Center for Disability Rights in Rochester, New York, has been trying to hire registered nurses, home health aides and service coordinators for several of the agencies that she oversees.
Many of the positions, which require specific skills and offer salaries in the range of $30,000 to $45,000, have been vacant for six months or longer.
The job postings, which appear on CareerBuilder, Craigslist and some regional sites, garner a lot of attention, she says. "We get tons of résumés from people. We are just not getting highly qualified candidates."
The problem, according to Willoughby, is that they are bombarded by résumés from job seekers without the two years or more of health care experience necessary. "We're seeing a lot of people trying to break into the health care arena," she said.
As a result, human resources spends too much time sifting through résumés for people who aren't remotely qualified, and can't find many that are. "We've gotten close to 300 résumés for a service coordinator position. Out of that we brought in four people," she said.
Those that didn't make the cut included someone with previous experience as an office clerk and a job applicant with a bachelor's in mathematics, currently employed at a café.
Willoughby recently instituted a hiring incentive program to encourage existing employees to refer viable candidates. Those responsible for bringing in new hires are eligible to receive $2,500 to $5,000, depending on the position. She has also added in a signing bonus for the new employees.
Things are even worse on the higher end of the pay scale. At wireless leasing firm, Unison Site, a position for director of lead generation, which pays $90,000-$140,000, has been open for three months, with no candidates in sight.
"With the job market the way it is, we should be able to recruit really good people and it hasn't worked quite as well as we wanted," said Joe Songer, co-founder and chief financial officer. "My problem is when I put an ad out I just get bombarded with people that aren't qualified."
Typically, the jobs that are the hardest to fill are those that require unique or extensive work experience, according to management professor Peter Cappelli of the University of Pennsylvania's Wharton School of Business.
For job seekers, applying to those types of positions may be worth the off chance that one responds with a request for an interview. "They think, I've got nothing to lose," Cappelli said.
Recruiters recommend that job seekers create a targeted list of companies with a clear match to their background and tailor their experience to the job they are applying for, rather than blanketing all available job openings with the same résumé.
"Eighty percent of jobs are being obtained on personal referrals so candidates that are spending the bulk of their time sending their resume out blindly are not being the most fruitful," said Carolyn Thompson, president of CMCS, a boutique staffing firm near Washington, D.C.
Thompson advises job seekers to network within those target companies, whether in person or through social networking sites.
Without a contact at the company, résumés should highlight and emphasize any relevant experience specific to the job opening, added Jennifer Becker, market director for Ajilon Professional Staffing. "You really want your résumé to very quickly and easily reflect your relevant skills and the value you can bring to the position."
"If the client has to look for it, you are probably going to get passed over."
With job openings largely concentrated in specialized industries like health care, green technology and energy, some employers say the problem is finding qualified workers, which are in short supply. Meanwhile, they are inundated with eager candidates from other industries who lack the skills and experience that the job requires.
According to a recent survey by Human Capital Institute and TheLadders, more than half of employers said "quality of candidates" or "availability of candidates" are their greatest challenges -- despite the recession.
Mary Willoughby, the director of human resources at the Center for Disability Rights in Rochester, New York, has been trying to hire registered nurses, home health aides and service coordinators for several of the agencies that she oversees.
Many of the positions, which require specific skills and offer salaries in the range of $30,000 to $45,000, have been vacant for six months or longer.
The job postings, which appear on CareerBuilder, Craigslist and some regional sites, garner a lot of attention, she says. "We get tons of résumés from people. We are just not getting highly qualified candidates."
The problem, according to Willoughby, is that they are bombarded by résumés from job seekers without the two years or more of health care experience necessary. "We're seeing a lot of people trying to break into the health care arena," she said.
As a result, human resources spends too much time sifting through résumés for people who aren't remotely qualified, and can't find many that are. "We've gotten close to 300 résumés for a service coordinator position. Out of that we brought in four people," she said.
Those that didn't make the cut included someone with previous experience as an office clerk and a job applicant with a bachelor's in mathematics, currently employed at a café.
Willoughby recently instituted a hiring incentive program to encourage existing employees to refer viable candidates. Those responsible for bringing in new hires are eligible to receive $2,500 to $5,000, depending on the position. She has also added in a signing bonus for the new employees.
Things are even worse on the higher end of the pay scale. At wireless leasing firm, Unison Site, a position for director of lead generation, which pays $90,000-$140,000, has been open for three months, with no candidates in sight.
"With the job market the way it is, we should be able to recruit really good people and it hasn't worked quite as well as we wanted," said Joe Songer, co-founder and chief financial officer. "My problem is when I put an ad out I just get bombarded with people that aren't qualified."
Typically, the jobs that are the hardest to fill are those that require unique or extensive work experience, according to management professor Peter Cappelli of the University of Pennsylvania's Wharton School of Business.
For job seekers, applying to those types of positions may be worth the off chance that one responds with a request for an interview. "They think, I've got nothing to lose," Cappelli said.
Recruiters recommend that job seekers create a targeted list of companies with a clear match to their background and tailor their experience to the job they are applying for, rather than blanketing all available job openings with the same résumé.
"Eighty percent of jobs are being obtained on personal referrals so candidates that are spending the bulk of their time sending their resume out blindly are not being the most fruitful," said Carolyn Thompson, president of CMCS, a boutique staffing firm near Washington, D.C.
Thompson advises job seekers to network within those target companies, whether in person or through social networking sites.
Without a contact at the company, résumés should highlight and emphasize any relevant experience specific to the job opening, added Jennifer Becker, market director for Ajilon Professional Staffing. "You really want your résumé to very quickly and easily reflect your relevant skills and the value you can bring to the position."
"If the client has to look for it, you are probably going to get passed over."
Monday, November 2, 2009
5 Evil Things Credit Card Companies Can (Still) Do
The credit card reform bill tries to help cash-strapped customers, but companies are coming up with new ways to boost profits.
The Bill
Credit card companies are socking it to consumers left and right.
They're hiking interest rates to as much as 36% and doubling minimum monthly payments, frustrating customers who are already cash-strapped and credit-crunched.
In an effort to curb these abusive practices, President Obama signed into law a credit card reform act in May that's rolling out in three parts over 12 months.
At the same time, credit card companies have been hard at work coming up with new ways to boost profits while sidestepping the reforms.
"Card issuers are making sure they can make up the lost money in new ways," said Bill Hardekopf of Lowcards.com, a research company funded by a commercial debt collector.
The first part of the law, which took effect in August, requires banks to give customers more notice ahead of major changes to their accounts, like rate hikes. Starting in February, limits will be imposed on when issuers can raise rates on existing card balances, and on new cards. In August 2010 some credit card penalty fees will be will reined in.
But no legislation can fully shield consumers from the credit card industry's ongoing efforts to boost the bottom line.
The worst part? "All of these hikes are taking place simply because they can," Hardekopf said
1. Rate Hikes
Interest rates are out of this world.
"They've increased steadily over the past 5 years, and in general are higher than they've ever been," said Josh Frank, senior researcher at the Center for Responsible Lending (CRL), who says he's seen annual percentage rates as high as 36%.
No current laws cap credit card interest rates, according to Pamela Banks of Consumers Union, the nonprofit publisher of Consumer Reports, so technically the sky's the limit.
But the CARD act will help curb abusive practices. As of February, issuers won't be able to arbitrarily raise rates on existing balances. But cardholders will still be subject to interest hikes for late payments and various other infractions.
And card companies will be able to raise their rates as high as they want, whenever they want, on future purchases even after the reform bill kicks in completely.
The act will bring protections for new customers; issuers will no longer be able to hike rates on new accounts in the first 12 months, unless the borrower is delinquent by more than 60 days or the increase is stated in the contract.
Keven Vallance recently saw the rate on his Sears card increase from 9.99% to 13.99% for no apparent reason. When Vallance called Sears Credit, which is owned by Citibank, a rep told him every cardholder's rate is increasing by 4%.
Citi spokesman Samuel Wang said in an email that the company has "adjusted pricing and card terms for some customers as part of our regular account reviews."
Consumer outrage is boiling over. Last month, a disgruntled Bank of America customer posted a YouTube video complaining her bank "jacked up my interest rate to a whopping 30% APR." Her rant went viral, and BofA dropped her rate back to its original 12.99%.
Courtesy: House.gov
Rep. Barney Frank hopes a new consumer protection agency can curb credit card fees.
2. New Fees
Fees aren't just rising -- they're multiplying. Cardholders are getting slapped with fees they've never seen before.
The hitch: New laws can address only existing fees and business practices; they can't predict what credit card companies will do in the future.
"Theoretically, they could create a fee for names that begin with 'J,'" said Lowcards.com's Hardekopf.
In reality, customers are seeing new annual fees, inactivity charges and more. Not of these charges are unheard of, but many fees that were unusual are becoming commonplace.
Earlier this month, for instance, some Bank of America customers were shocked to learn that their no-fee credit cards would be subject to a new annual fee.
BofA spokeswoman Betty Riess said the fees are part of a company test that affects 0.5% of all consumer accounts, and that the fees range from $29-$99.
The charges will be levied in February, and Riess said customers were chosen "based on risk and profitability" but have the option to reject the fees by canceling their accounts.
Fifth Third Bank recently introduced a $19 inactivity fee for customers who don't charge anything for 12 months, and Citibank is hitting some consumers with a fee if they put less than $2,400 on their card annually.
To address this problem, House Financial Services Committee Barney Frank (D-Mass.) has proposed a new regulatory body, the Consumer Financial Protection Agency, which would approve new credit card fees. While the House Financial Service Committee approved the agency, it remains to be seen whether legislation will pass; lawmakers are battling over this and other reform proposals floating around Washington.
Photo: Jupiterimages
3. Higher Minimum Monthly Payments
Banks are also demanding bigger and bigger minimum payments. Chase has bumped up the minimum payment for some consumers to 5% of the monthly balance from 2%.
For someone who carries a $5,000 balance, that means the monthly payment of $100 skyrockets to $250 -- a whopping 150% increase.
Consumer Union's Pamela Banks says her organization has compiled a wealth of anecdotal evidence that indicates such increases in minimum monthly payments are widespread.
"This is making payments virtually impossible for some people," she said. "It's throwing people off when they were living on a tight budget anyway."
Some good news is on the way, however. After February, card companies won't be able to increase monthly minimum payments by more than 100%. For example, a bank cannot increase a 2% minimum payment to any higher than 4%. And this so-called "doubling" will be allowed only once during the life of the card.
Photo: Photodisc / Jupiterimages
4. Fewer Rewards
Say goodbye to beach vacations and new iPods just for swiping your card.
Rewards programs have been enticing shoppers to charge a purchase rather than paying cash -- but card issuers are cutting back those perks.
"This is happening with a significant amount of cards," Hardekopf said, adding that many consumers are now receiving 1% cash back instead of the 2% or 3% they once enjoyed.
American Express recently cut its Blue Card's cash back policy from 1.5% to 1.25%. And all AmEx customers who make a late payment will no longer accrue points on their purchases -- however, those points can be reinstated with a $29 fee.
5. Slashed Credit Limits and Canceled Accounts
Without so much as a call from the bank, some customers are learning their credit limits have been slashed by as much as 75%, or that their accounts have been closed altogether, according to the Center for Responsible Lending's Josh Frank.
Citibank recently closed what a spokesman called a "limited number" of MasterCard gas cards co-branded with Citgo, ExxonMobil, ConocoPhillips and Shell.
"People go to make a purchase, and they find out about these huge changes only when they're denied," Frank said. "It's a shock, and it's been happening a lot."
Even cardholders who don't charge anything might find their accounts abruptly closed, Frank said. With credit losses at a record high, companies see inactive cards as a red flag and close the accounts to avoid the worry of future writedowns.
"Usually cardholders have this credit line available for an emergency, for this kind of current economic situation," Frank said. "But now they're turning to it when they need it, and it's gone."
What's a Cardholder to Do?
Consumers must pay close attention to the terms of their contracts, staying alert to any changes.
"It's boring reading, and it can be hard to understand, but that's where everything is spelled out," said Lowcards.com's Hardekopf.
Of course, while there are laws aimed at helping consumers, legislation can't do it all.
"As we close the loopholes on some things, they open up elsewhere," said Consumer Union's Banks. "Reform acts don't cover everything, and cardholders have to watch out for their own accounts."
And if you don't like your credit card's new terms? "Shop around -- you are not married to your card," Hardekopf said. "It's a partnership, not a lifelong contract."
The Bill
Credit card companies are socking it to consumers left and right.
They're hiking interest rates to as much as 36% and doubling minimum monthly payments, frustrating customers who are already cash-strapped and credit-crunched.
In an effort to curb these abusive practices, President Obama signed into law a credit card reform act in May that's rolling out in three parts over 12 months.
At the same time, credit card companies have been hard at work coming up with new ways to boost profits while sidestepping the reforms.
"Card issuers are making sure they can make up the lost money in new ways," said Bill Hardekopf of Lowcards.com, a research company funded by a commercial debt collector.
The first part of the law, which took effect in August, requires banks to give customers more notice ahead of major changes to their accounts, like rate hikes. Starting in February, limits will be imposed on when issuers can raise rates on existing card balances, and on new cards. In August 2010 some credit card penalty fees will be will reined in.
But no legislation can fully shield consumers from the credit card industry's ongoing efforts to boost the bottom line.
The worst part? "All of these hikes are taking place simply because they can," Hardekopf said
1. Rate Hikes
Interest rates are out of this world.
"They've increased steadily over the past 5 years, and in general are higher than they've ever been," said Josh Frank, senior researcher at the Center for Responsible Lending (CRL), who says he's seen annual percentage rates as high as 36%.
No current laws cap credit card interest rates, according to Pamela Banks of Consumers Union, the nonprofit publisher of Consumer Reports, so technically the sky's the limit.
But the CARD act will help curb abusive practices. As of February, issuers won't be able to arbitrarily raise rates on existing balances. But cardholders will still be subject to interest hikes for late payments and various other infractions.
And card companies will be able to raise their rates as high as they want, whenever they want, on future purchases even after the reform bill kicks in completely.
The act will bring protections for new customers; issuers will no longer be able to hike rates on new accounts in the first 12 months, unless the borrower is delinquent by more than 60 days or the increase is stated in the contract.
Keven Vallance recently saw the rate on his Sears card increase from 9.99% to 13.99% for no apparent reason. When Vallance called Sears Credit, which is owned by Citibank, a rep told him every cardholder's rate is increasing by 4%.
Citi spokesman Samuel Wang said in an email that the company has "adjusted pricing and card terms for some customers as part of our regular account reviews."
Consumer outrage is boiling over. Last month, a disgruntled Bank of America customer posted a YouTube video complaining her bank "jacked up my interest rate to a whopping 30% APR." Her rant went viral, and BofA dropped her rate back to its original 12.99%.
Courtesy: House.gov
Rep. Barney Frank hopes a new consumer protection agency can curb credit card fees.
2. New Fees
Fees aren't just rising -- they're multiplying. Cardholders are getting slapped with fees they've never seen before.
The hitch: New laws can address only existing fees and business practices; they can't predict what credit card companies will do in the future.
"Theoretically, they could create a fee for names that begin with 'J,'" said Lowcards.com's Hardekopf.
In reality, customers are seeing new annual fees, inactivity charges and more. Not of these charges are unheard of, but many fees that were unusual are becoming commonplace.
Earlier this month, for instance, some Bank of America customers were shocked to learn that their no-fee credit cards would be subject to a new annual fee.
BofA spokeswoman Betty Riess said the fees are part of a company test that affects 0.5% of all consumer accounts, and that the fees range from $29-$99.
The charges will be levied in February, and Riess said customers were chosen "based on risk and profitability" but have the option to reject the fees by canceling their accounts.
Fifth Third Bank recently introduced a $19 inactivity fee for customers who don't charge anything for 12 months, and Citibank is hitting some consumers with a fee if they put less than $2,400 on their card annually.
To address this problem, House Financial Services Committee Barney Frank (D-Mass.) has proposed a new regulatory body, the Consumer Financial Protection Agency, which would approve new credit card fees. While the House Financial Service Committee approved the agency, it remains to be seen whether legislation will pass; lawmakers are battling over this and other reform proposals floating around Washington.
Photo: Jupiterimages
3. Higher Minimum Monthly Payments
Banks are also demanding bigger and bigger minimum payments. Chase has bumped up the minimum payment for some consumers to 5% of the monthly balance from 2%.
For someone who carries a $5,000 balance, that means the monthly payment of $100 skyrockets to $250 -- a whopping 150% increase.
Consumer Union's Pamela Banks says her organization has compiled a wealth of anecdotal evidence that indicates such increases in minimum monthly payments are widespread.
"This is making payments virtually impossible for some people," she said. "It's throwing people off when they were living on a tight budget anyway."
Some good news is on the way, however. After February, card companies won't be able to increase monthly minimum payments by more than 100%. For example, a bank cannot increase a 2% minimum payment to any higher than 4%. And this so-called "doubling" will be allowed only once during the life of the card.
Photo: Photodisc / Jupiterimages
4. Fewer Rewards
Say goodbye to beach vacations and new iPods just for swiping your card.
Rewards programs have been enticing shoppers to charge a purchase rather than paying cash -- but card issuers are cutting back those perks.
"This is happening with a significant amount of cards," Hardekopf said, adding that many consumers are now receiving 1% cash back instead of the 2% or 3% they once enjoyed.
American Express recently cut its Blue Card's cash back policy from 1.5% to 1.25%. And all AmEx customers who make a late payment will no longer accrue points on their purchases -- however, those points can be reinstated with a $29 fee.
5. Slashed Credit Limits and Canceled Accounts
Without so much as a call from the bank, some customers are learning their credit limits have been slashed by as much as 75%, or that their accounts have been closed altogether, according to the Center for Responsible Lending's Josh Frank.
Citibank recently closed what a spokesman called a "limited number" of MasterCard gas cards co-branded with Citgo, ExxonMobil, ConocoPhillips and Shell.
"People go to make a purchase, and they find out about these huge changes only when they're denied," Frank said. "It's a shock, and it's been happening a lot."
Even cardholders who don't charge anything might find their accounts abruptly closed, Frank said. With credit losses at a record high, companies see inactive cards as a red flag and close the accounts to avoid the worry of future writedowns.
"Usually cardholders have this credit line available for an emergency, for this kind of current economic situation," Frank said. "But now they're turning to it when they need it, and it's gone."
What's a Cardholder to Do?
Consumers must pay close attention to the terms of their contracts, staying alert to any changes.
"It's boring reading, and it can be hard to understand, but that's where everything is spelled out," said Lowcards.com's Hardekopf.
Of course, while there are laws aimed at helping consumers, legislation can't do it all.
"As we close the loopholes on some things, they open up elsewhere," said Consumer Union's Banks. "Reform acts don't cover everything, and cardholders have to watch out for their own accounts."
And if you don't like your credit card's new terms? "Shop around -- you are not married to your card," Hardekopf said. "It's a partnership, not a lifelong contract."
Sunday, November 1, 2009
5 Habits to Break Before It's Too Late
You want to live a long, full life -- to be young and lean forever. But you could be doing yourself more harm than good.
"Someday," you say, "I'm going to get my health back on track, after this next project," or "when I get back from my cruise," or "when the kids get a little older" ... C'mon, you know your list of reasons -- or what I call EXCUSES -- better than I.
Look, if you're waiting for some magical day to appear, you just may be waiting forever. These days do not "show up"; you show up for THEM. I have identified five critical areas, bad habits that many people mindlessly follow. Do you realize that each and every day of your life that you do not reverse these dangerous trends, you get farther and farther from your ultimate goal of living a fulfilling life?
Take a look at each area, determine how you stack up, and then make the fix today:
1) Stealing from sleep: Studies show that a minimum of seven to nine hours of uninterrupted sleep (at night) are essential for health. Sleep is the time when your body repairs and recovers from all of the metabolic processes that your body performs every second. Sleep supports healthy weight management, raises growth hormone, and heals the adrenals. If you are watching TV, working on your PC, or otherwise stimulating yourself so that you are unable to go to sleep by 11 PM, then establish the Power Down Hour and turn to more relaxing activities like baths, light novels, or cuddling with a loved one (or pet!) at least an hour or two before bedtime. Then ... retrain yourself to sleep through the night.
2) Skipping breakfast: How many times do you find yourself dashing out the door to start your day, only to discover that you forgot to eat? Listen, your body has just "fasted" overnight, and in order to fuel yourself for the day (and lower stress hormones), you must eat a balanced meal that includes proteins, fats, and carbohydrates. Otherwise, your body will turn on itself for fuel, and it isn't fat but muscle that it's going to target ... which will cascade into a very nasty sequence of health consequences that will make you fat, old, and tired before your time.
3) Blowing off exercise: If you think you can manage your health and weight through dietary means alone, it won't work. Period. Exercise is crucial for stimulating proper physical and hormonal response necessary for building muscle and bone, burning fat, letting you sleep, keeping you young, giving you energy -- the list is endless. More important is the CORRECT type of exercise, which involves high-intensity interval training, along with resistance workouts. If you can't find 20-30 minutes a day to incorporate these exercises into your life (oh yeah, that is ALL you need, by the way), then you can kiss your health goodbye.
4) Noshing at night: Strapping on the feedbag in the evenings basically signals your body to hold off on burning existing fat stores, raises stress hormones before bedtime, and screws up your body's natural digestive processes at a time when it should be ready to shut down and repair. If you are eating in a hormonally-balanced way during your evening meal, there is absolutely no need to munch afterward.
5) Not counting your beverages: One of the craziest things I encounter in my work is the lack of consideration of high-calorie, high-sugar drinks in the diet. Yes, those healthy "Jumbo Juices," designer coffee slurpees (hey, they may as well be, given all the sugar in them), and those harmless little cocktails every night, especially those fruit-flavored martini and tequila drinks, can really pack on the pounds in a hurry. Make the switch to healthier options like iced green tea -- or, my favorite, Emergen-C -- for some sparkling mineral replacements that not only satisfy, but also fuel and nourish!
JJ Virgin, PhD, CNS is a celebrity health and nutrition expert, author, public speaker and media personality. She is internationally recognized as the creator of the Weight Loss Resistance Revolution™ and trains other health care professionals in her program. JJ is the President of the National Association of Nutrition Professionals,
"Someday," you say, "I'm going to get my health back on track, after this next project," or "when I get back from my cruise," or "when the kids get a little older" ... C'mon, you know your list of reasons -- or what I call EXCUSES -- better than I.
Look, if you're waiting for some magical day to appear, you just may be waiting forever. These days do not "show up"; you show up for THEM. I have identified five critical areas, bad habits that many people mindlessly follow. Do you realize that each and every day of your life that you do not reverse these dangerous trends, you get farther and farther from your ultimate goal of living a fulfilling life?
Take a look at each area, determine how you stack up, and then make the fix today:
1) Stealing from sleep: Studies show that a minimum of seven to nine hours of uninterrupted sleep (at night) are essential for health. Sleep is the time when your body repairs and recovers from all of the metabolic processes that your body performs every second. Sleep supports healthy weight management, raises growth hormone, and heals the adrenals. If you are watching TV, working on your PC, or otherwise stimulating yourself so that you are unable to go to sleep by 11 PM, then establish the Power Down Hour and turn to more relaxing activities like baths, light novels, or cuddling with a loved one (or pet!) at least an hour or two before bedtime. Then ... retrain yourself to sleep through the night.
2) Skipping breakfast: How many times do you find yourself dashing out the door to start your day, only to discover that you forgot to eat? Listen, your body has just "fasted" overnight, and in order to fuel yourself for the day (and lower stress hormones), you must eat a balanced meal that includes proteins, fats, and carbohydrates. Otherwise, your body will turn on itself for fuel, and it isn't fat but muscle that it's going to target ... which will cascade into a very nasty sequence of health consequences that will make you fat, old, and tired before your time.
3) Blowing off exercise: If you think you can manage your health and weight through dietary means alone, it won't work. Period. Exercise is crucial for stimulating proper physical and hormonal response necessary for building muscle and bone, burning fat, letting you sleep, keeping you young, giving you energy -- the list is endless. More important is the CORRECT type of exercise, which involves high-intensity interval training, along with resistance workouts. If you can't find 20-30 minutes a day to incorporate these exercises into your life (oh yeah, that is ALL you need, by the way), then you can kiss your health goodbye.
4) Noshing at night: Strapping on the feedbag in the evenings basically signals your body to hold off on burning existing fat stores, raises stress hormones before bedtime, and screws up your body's natural digestive processes at a time when it should be ready to shut down and repair. If you are eating in a hormonally-balanced way during your evening meal, there is absolutely no need to munch afterward.
5) Not counting your beverages: One of the craziest things I encounter in my work is the lack of consideration of high-calorie, high-sugar drinks in the diet. Yes, those healthy "Jumbo Juices," designer coffee slurpees (hey, they may as well be, given all the sugar in them), and those harmless little cocktails every night, especially those fruit-flavored martini and tequila drinks, can really pack on the pounds in a hurry. Make the switch to healthier options like iced green tea -- or, my favorite, Emergen-C -- for some sparkling mineral replacements that not only satisfy, but also fuel and nourish!
JJ Virgin, PhD, CNS is a celebrity health and nutrition expert, author, public speaker and media personality. She is internationally recognized as the creator of the Weight Loss Resistance Revolution™ and trains other health care professionals in her program. JJ is the President of the National Association of Nutrition Professionals,
Thursday, October 29, 2009
What is happening in AMERICA ??? Getting enough sleep? They aren't in West Virginia
ATLANTA – Sleepless in Seattle? Hardly. West Virginia is where people are really staying awake, according to the first government study to monitor state-by-state differences in sleeplessness.
West Virginians' lack of sleep was about double the national rate, perhaps a side effect of health problems such as obesity, experts said.
Nearly 1 in 5 West Virginians said they did not get a single good night's sleep in the previous month. The national average was about 1 in 10, according to a federal health survey conducted last year and released Thursday.
Tennessee, Kentucky and Oklahoma also were notably above average in their reported lack of sleep. In contrast, North Dakota had fewer problems sleeping, with only 1 in 13 reporting that degree of sleeplessness.
Health officials do not know the exact reasons for the differences.
"We didn't ask 'Why didn't you get enough rest or sleep?'" said Lela McKnight-Eily, an epidemiologist for the Centers for Disease Control and Prevention who led the study.
But experts noted several possible explanations: West Virginia ranks at or near the bottom of the nation in several important measurements of health, including obesity, smoking, heart disease and the proportion of adults with disabilities. Studies have increasingly found sleeping problems in people with certain health problems, including obesity.
"You would expect to see poorer sleep within a chronically diseased population," noted Darrel Drobnich of the National Sleep Foundation, a nonprofit advocacy and research organization.
Some experts believe sleep-deprived people are more inclined to eat fatty foods during the day.
"There's growing evidence sleep deprivation promotes obesity," said Dr. Ronald Chervin, a University of Michigan sleep disorders expert.
Financial stress and odd-hour work shifts can play roles in sleeplessness, too, Chervin added. He suggested those may be contributing factors in West Virginia, an economically depressed state with tens of thousands of people working in coal mining.
Thursday's report was based on results of an annual telephone survey of more than 400,000 Americans, including at least 3,900 in each state. The survey did not include people who use only cell phones.
The results mirrored earlier studies that found women are more likely to have sleeping problems than men, and blacks are more likely than white or Hispanics to get less sleep.
The survey did not ask people how many hours of sleep they got, and different respondents may have had different views of what counted for a good night's sleep. Sleep experts recommend seven to nine hours of sleep each night.
If you're wondering about Seattle — scene of the Tom Hanks-Meg Ryan film "Sleepless in Seattle" — the report did not provide information on cities. But the state of Washington had slightly fewer sleep-deprived people than the average state as reflected by the percent of residents reporting a solid month of sleeplessness.
New York and California — two states with large, stressed-out cities — were also a little better than average.
The survey also asked people the opposite question: Did you get enough sleep every single night for the last month? Hawaii racked up the most zzz's, with nearly 36 percent saying they were fully rested every day. The national average was about 31 percent.
In every state, most people reported a mix of nights when they got enough sleep and nights they did not.
___
West Virginians' lack of sleep was about double the national rate, perhaps a side effect of health problems such as obesity, experts said.
Nearly 1 in 5 West Virginians said they did not get a single good night's sleep in the previous month. The national average was about 1 in 10, according to a federal health survey conducted last year and released Thursday.
Tennessee, Kentucky and Oklahoma also were notably above average in their reported lack of sleep. In contrast, North Dakota had fewer problems sleeping, with only 1 in 13 reporting that degree of sleeplessness.
Health officials do not know the exact reasons for the differences.
"We didn't ask 'Why didn't you get enough rest or sleep?'" said Lela McKnight-Eily, an epidemiologist for the Centers for Disease Control and Prevention who led the study.
But experts noted several possible explanations: West Virginia ranks at or near the bottom of the nation in several important measurements of health, including obesity, smoking, heart disease and the proportion of adults with disabilities. Studies have increasingly found sleeping problems in people with certain health problems, including obesity.
"You would expect to see poorer sleep within a chronically diseased population," noted Darrel Drobnich of the National Sleep Foundation, a nonprofit advocacy and research organization.
Some experts believe sleep-deprived people are more inclined to eat fatty foods during the day.
"There's growing evidence sleep deprivation promotes obesity," said Dr. Ronald Chervin, a University of Michigan sleep disorders expert.
Financial stress and odd-hour work shifts can play roles in sleeplessness, too, Chervin added. He suggested those may be contributing factors in West Virginia, an economically depressed state with tens of thousands of people working in coal mining.
Thursday's report was based on results of an annual telephone survey of more than 400,000 Americans, including at least 3,900 in each state. The survey did not include people who use only cell phones.
The results mirrored earlier studies that found women are more likely to have sleeping problems than men, and blacks are more likely than white or Hispanics to get less sleep.
The survey did not ask people how many hours of sleep they got, and different respondents may have had different views of what counted for a good night's sleep. Sleep experts recommend seven to nine hours of sleep each night.
If you're wondering about Seattle — scene of the Tom Hanks-Meg Ryan film "Sleepless in Seattle" — the report did not provide information on cities. But the state of Washington had slightly fewer sleep-deprived people than the average state as reflected by the percent of residents reporting a solid month of sleeplessness.
New York and California — two states with large, stressed-out cities — were also a little better than average.
The survey also asked people the opposite question: Did you get enough sleep every single night for the last month? Hawaii racked up the most zzz's, with nearly 36 percent saying they were fully rested every day. The national average was about 31 percent.
In every state, most people reported a mix of nights when they got enough sleep and nights they did not.
___
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