Category: Money

Society by Joe WilcoxJan 29, 20179:49 pm

Amazon Books San Diego

My wife and I drove to Westfield UTC to walk around on this bright sunny day, and to reminisce. Soon after we moved to San Diego in late 2007, my daughter started skating at Ice Town (since renamed UTC Ice), which is inside the mall’s food court. There, Firefighters gave her a Santa’s hat on Christmas Eve, 2008. We hadn’t visited the La Jolla retail complex for at least six months, and I suspect much longer. Hehe, we missed out. In September 2016, the second Amazon Books store opened there. The first is in Seattle, and there is another in Portland, Oregon.

Eleven months ago, when Wall Street Journal broke Amazon’s plan to open the shops, I offered some good reasons why the strategy makes sense, even if it might seem nonsensical when bookstores are shutting around the nation— the online retailer’s Kindle ebook business being a major reason. I had no idea then, or until today, that San Diego was among the locations. UTC is a good choice. Amazon Books is diagonally across from Apple Store, in a mall that is very outdoor shopping/walking friendly and courts a clientele that would shop for titles they can hold and read; no device or screen required.

Living by Joe WilcoxJan 20, 20176:20 pm

This is Me Then and Now V

My past personal photo comparisons focused on a decade’s separation. Two years can make a difference, too, in terms of weight, health, and appearance. Both pics are self-portraits—the left from Jan. 11, 2015 and the other Jan. 7, 2017, shot using iPhone 6 and iPhone 7 Plus, respectively. In the older photo, I weighed 63.4 kilos (139.8 pounds). The newer: 15 kilos (10 pounds) less, or about the same as 40 years ago, during my senior year of high school.

Occasionally, someone locally who hasn’t seen me for awhile will with concern ask if I’m ill, for being so skinny. Not at all. I tightened up my diet, cutting carb consumption by 80 percent-plus—and sugar by even more, when aware of its presence. The sweetener is in everything, and it is not so easy to expunge from the diet. Before changing my eating habits, and weight-loss was a byproduct not the purpose, I tipped the scale to 82.6 kilos (182 pounds).

Apple by Joe WilcoxDec 21, 20166:30 pm

Apple Store, Bah Humbug

Apple sure knows how to keep its store stocked for the holidays. Ho, ho, ho, bah humbug. The shelves are bare, and you can get your must-have pretty thing some time next year. If you’re lucky. Let’s start with the delayed AirPods, which went on sale online last week. They arrived in stores on Monday, and whoosh were gone before the waiting line ended. My local shop had about 30 pairs. If you want them, first available retail pickup date is—cough, cough—February 8th. That is 2017. I had to confirm not 2018, because you never know with these dumbfounding delays. Straight-to-ship orders move your way in six weeks. Donald Trump will be president sooner!

Perhaps you’re pining for one of those pricey MacBook Pros—you know, the ones with Touch Bar that no sane person knows what to do with. Apple will miss Christmas, but you can still beat Martin Luther King’s birthday, with orders made today delivering sometime between January 4-10 or available for in-store pickup on the tenth. God Bless America and Made in China!

News Media by Joe WilcoxDec 2, 201612:50 pm

Outrageous! Digital Wall Street Journal Costs 708% More Today Than Did My First Subscription!

As a journalist, I appreciate the importance of paying for quality journalism—but my budget only can absorb so many paywall subscriptions. I am disappointed to, once again, abandon the digital Wall Street Journal. Cost is too high. I resubscribed this year for a 6-month, election special promotional rate of $87—and received great value. The Journal became my newspaper of record during the brutal, belabored, blood-sucking Presidential campaign.

My sub would have auto-renewed on December 9th. But for how much? Nowhere (that I can find) does the account page disclose this vital information. So yesterday afternoon, I called customer service and received a shock that required the guy to repeat the renewal amount four times. Surely I misunderstood him: $98.97 for three months. That’s $395.88 per year! I pleaded for a deal and got one that isn’t low enough: $130.44 for six months. The WSJ rep compared the monthly costs for the incredible savings: $21.74, rather than $32.99 monthly. But as I told him, the meaningful comparison is to my other paid papers (digitally).

Money by Joe WilcoxOct 10, 20169:36 pm

You Don’t Need Overdraft Protection

I knew it! Today’s Wall Street Journal story “Wells Fargo Managers Pushed Overdraft Services” exactly recounts my experience as the bank’s customer. Few years back, during a routine phone call, a banker offered to add overdraft protection to my account. She pitched it as an important benefit. I paused and replied that the account never overdraws. But she pressed, encouraging me to take the service—and did so four more times.

See, we had an exchange, where I pushed back hard. “If I overdraw the account, you don’t pay, right?”—being well aware of the 2010 Federal Reserve regulation regarding overdrafts. If customers don’t opt in, the bank doesn’t pay the bill and there is no fee. “You can charge only for overdrafts if I sign up, right?” She sidestepped, at first, avoiding the answer and touting the benefits to me.

News Media by Joe WilcoxMay 26, 20163:45 pm

Be Careful What You Wish For, Mr. Thiel

A report available today from Pew Research Center finds that 62 percent of American adults “get news on social media, and 18 percent do so often”. Those statistics should frighten new and old media, but more so critics like billionaire Peter Thiel, who bankrolled wrestler Hulk Hogan’s lawsuit against Gawker; the blog and news site lost. Depending on the outcome of a court hearing, Gawker could be shuttered or sold, if forced to put $50 million in escrow during the appeals process. The amount exceeds yearly advertising revenues.

Thiel admittedly put up about $10 million, if not more, to support Hogan’s lawsuit and unnamed others. Destroying Gawker might seem like an enviable outcome for one of Silicon Valley’s tech elite—he is a PayPal cofounder and early Facebook investor—but, as they say, nature abhors a vacuum, which replacement isn’t waiting around. Social media increasingly fills the niche that Gawker vacates.

Society by Joe WilcoxMay 3, 20167:11 pm

The Man on the Street

This afternoon, while walking along Adams Ave. in Normal Heights, I passed what appeared to be a homeless man sitting on a cement step inside an abandoned storefront doorway. He was grizzled but neat, with the leathery-brown skin hue common among people overexposed to the Southwestern Sun. His hair and beard bled gray all over what might have one time been black.

As I passed, he stopped over, arms resting on knees, alongside a small, black luggage bag with wheels and pulled-out handle. About 5 meters beyond him, my pace slowed. I rarely carry cash but today had a 10 dollar bill, which is more money than I usually give—and he had asked for none. I turned around and walked back, finding him up and moving. We passed. I hesitated once more then spun back and spoke.

Apple by Joe WilcoxApr 27, 20169:37 pm

A Few Bad Apples Shouldn’t Spoil the Whole Bunch, Mr. Cook

Listening to Apple’s fiscal second quarter 2016 earnings conference call yesterday was like attending a funeral—where the eulogy is for someone whom you know has gone to Hell. There’s no way to sugarcoat that the good days are over and an eternity of burning flesh awaits. I kid you not. Haul over to iTunes and download the replay. You’ll feel the grim reaper looking over your shoulder while CEO Tim Cook talks as joyfully about Apple’s performance as a man granted last words before the gallows.

And I wonder why? So what that Apple reported its first revenue decline in 13 years, or that iPhone sales fell for the first time ever, or that Q3 guidance is a few billion short of Wall Street consensus? This friggin’ company still mints money, and that ain’t changing anytime soon. Revenue reached $50.6 billion—more than Alphabet, Facebook, Microsoft, and PayPal combined. Apple’s $10.5 billion net income exceeds that of Alphabet and Microsoft together. Oh, and iPhone generated more revenue ($32.86 billion) than either competitor’s total sales. Apple ended the quarter with a $232 billion cash horde. And we get a wake, not a celebration?

Apple by Joe WilcoxApr 26, 20168:27 pm

The End of the iPhone Empire Begins

The spotlight shines on the world’s most-valuable company this fine Tuesday, as Apple revealed results for fiscal second quarter 2016. Wall Street expected the first revenue growth decline in more than a decade and iPhone’s first-ever sales retraction . Is the sky finally falling? Eh, not yet. But the sun slowly sets over the vast smartphone empire.

Ahead of today’s earnings announcement, Wall Street consensus put revenue down 10.4 percent year over year to $51.97 billion, with earnings per share down 14.2 percent to $2. Apple actual: $50.557 billion sales, $10.5 billion net income, and $1.90 EPS. Three months ago, the company told the Street to expect between $50 billion and $53 billion in sales. You read the numbers correctly: Apple uncharacteristically missed the Street’s targets and came in on the low end of its own guidance.

Mobility by Joe WilcoxApr 21, 20169:44 pm

European Trustbusters fight the Android Army’s Advances

Once again, as it has done in the past, Google makes the classic monopolist defense for its competitive—or anticompetitive, depending on perspective—behavior with respect to Android. Yesterday, the European Union’s Competition Commission formerly charged Alphabet and its major subsidiary, which has 12 weeks to provide satisfactory legal response before the Commission issues corrective sanctions.

Simply stated, the EC finds that the company abused its dominant position, in part by contracts compelling Android licensees to preload Google apps and related services, including search. Microsoft ran into similar bundling headaches starting in the late 1990s with respect to Windows. Responding, Kent Walker, Google general counsel, claims that licensees and consumers can choose to install third-party apps. Microsoft made like-claims during its antitrust defense here and in Europe; they fell flat.

Photo by Joe WilcoxNov 15, 20157:18 am

Flickr a Day 319: The Standoff

Do you remember Occupy Wall Street—or care about the protest? Four years ago today, police dispersed the crowd camped out in New York City’s Zuccotti Park for nearly two months. David Shankbone captured the moment in […]

Living by Joe WilcoxOct 26, 20158:04 pm

#OptOutside is Brilliant Marketing

Well, Hell, I just spotted an email sent by REI three hours ago, and I am having a “Miracle on 34th Street” moment. It’s like Macy’s Santa sending customers to Gimbels. The outdoor clothier and gear retailer will close for the biggest shopping day of the year. While other sellers countdown to sales, REI ticks time until doors closed.

Marketing tagline: #OptOutside. And there is a website, to socially share and join the community going outdoors rather than inside the concrete jungle of rabid, frothing sales seekers. You know the breed. They’ll attack anyone and anything—no prey is too large—to save two bits on a dollar. They roam in vast herds of destruction across the retail prairies the day after Thanksgiving. They are vicious, vindictive creatures. REI is right to free employees from serving them, or customers encountering these beasts drawn to discounts like they were pheromones of heat.