Category: Money

Gear by Joe WilcoxJun 16, 20065:58 pm

Oh, Joe of Little Faith

This evening, I stopped into Penn Camera to pick up that spare Nikon D200 battery ordered about a week earlier. I waited behind a guy spending big on a digital camera, although it was uncertain if he understood what he was buying.

Thomas Hawk might appreciate this: A Canon EOS 5D, Canon EF 24-70mm f/2.8L USM lens, Canon Speedlite 430EX flash, memory card, and some other stuff I couldn’t quite make out. The buyer seemed somewhat perplexed by the $5,500 total. I thought, “It’s what you pay for a full-frame sensor”. Turns out, Canon rebates would put more than 500 bucks back in his pocket—$300 off the 5D. The camera is practically a steal at $2,699 after rebate.

Money by Joe WilcoxApr 2, 20063:50 pm

Ah, the Internet

It’s disruptive now as ever. New York Times has two great stories on this disruptive quality: One, “Death by Smiley Face: When Rivals Disdain Profit“, about companies giving away stuff and hurting established profit mongers; […]

Living by Joe WilcoxMar 24, 20066:59 pm

Housing Prices Decline

After warm weather temporarily boosted home sales in January, reality has returned. According to a CNN Money article, today, home sales dipped in February. More importantly, home prices receded—to an average $230,400, or decline of $6,900 (3 percent)—compared to February 2005.

I am no economist, but I expect an acceleration of the trend. Many U.S. consumers had been using home equity like bank accounts, greatly contributing to overall spending and GDP growth. Trouble signs are everywhere—and well beyond the housing sector. With the exception of some very profitable oil companies, last quarter’s earnings announcements hinted of troubles with consumer spending. When companies like Intel, even Wal-Mart, lower earnings estimate (as they did for first quarter), something’s amiss. And it is.

News Media by Joe WilcoxMar 15, 20064:19 pm

Numbers

On the plane from Washington (DC) to Washington (State) today, I got to thinking about numbers, and the shenanigans businesses–and even journalists—get away with because of them.

Lady seated in front of me had a newspaper open with headline about some company paying $1 billion for something. What struck me was the $1, not the billion. People tend to associate with the familiar, and the numbers zero to nine are pretty familiar. The obvious association is everyday usage, which is $1 as $1, whether there is a million or billion that follows. The impact of the number’s real value is insignificant.

Money by Joe WilcoxJan 29, 20067:42 pm

Online Buying for Dumb People

I an in a foul mood because of Amazon affiliates. On January 17, my wife ordered textbook Japanese for Young People I: Student Book through one of Amazon’s affiliates. Twelve days later, we still don’t have the book, and another ordered with it.

I take the blame for the mistake. My wife asked my assistance when ordering the book, and being work rushed that day I failed to demonstrate diligence. I should have done what my daughter did: Check Amazon reviews of the seller. Many, many of the reviewers complained about long delivery times, no books received, or damaged items. I would have canceled right then, but I quickly learned that the seller provides no easy cancelation mechanism. So we gambled on the order, for which we received shipment notification on January 18, and lost.

Society by Joe WilcoxJan 16, 200610:08 am

The Buck Stops Sales Here

Today may be a holiday, but my daughter has her first Japanese class. We’ve opened our home to other homeschoolers and the wonderful Japanese teacher.

This morning I followed a haircut at the local barber shop with a trip to the local CVS for some last-minute munchies for the Japanese students. One of my pet peeves: People using credit cards to buy stuff at stores like CVS or Rite Aid. Oh, how I just love to stand behind three or four people, each one buying a few dollars in items using a credit card. C`mon, who doesn’t or shouldn’t have five bucks in the wallet or purse—more purse, as most of the credit card purchasers do appear to be women. Is there some cultural or gender factor at work?

Living by Joe WilcoxDec 26, 20055:35 pm

Global Village

As a Cusper, I share some Baby Boomer values, although I shun most of them. However, I am drawn to some of the Boomer idealism, granted with pragmatic bent. And I’m still pretty idealistic, even in my, uh hum, forties.

The World Wide Web appealed to me because of my idealism, and the belief that the vast communications network would empower the masses.

Money by Joe WilcoxDec 11, 200510:29 am

Steve Makes a Good Case

In today’s Washington Post, AOL founder Steve Case eloquently argues that Time Warner should split into four companies. He writes that in early 2002: “I proposed to the company’s board that it was time to ‘liberate’ and split the conglomerate into four freestanding companies—Time Warner Cable, Time Warner Entertainment, Time Inc. and AOL—each with its own strategy, stock, balance sheet, management team, and board.”

He contends that the four units would “benefit from the separation” and “that other parts of Time Warner would achieve similar results if set free from the conglomerate. Time Warner has proven to be too big, too complex, too conflicted and too slow-moving—in other words, too much like a classic conglomerate—to seize new opportunities”. He sees big potential from separation, and I can’t disagree.

Money by Joe WilcoxDec 10, 20058:17 pm

Pop!

The Dec. 19, 2005, Business Week piles on more worrisome indications that the housing bubble is deflating. The story focuses on Loudon County, Va., once one of the hottest real estate markets in the country that is now cooling off. As sales slow, sellers are cutting prices. According to Business Week, “From August to October, the median sales price for houses dropped from $506,100 to $480,000”. I expect falling selling prices and rising days on the market to be the norm in most housing markets, if not now within a short time.

I first blogged on the housing bubble in August, a year after I started warning people trouble was coming. Coincidentally, not a week following the post, a good friend asked me about real estate as an investment. She had come into inheritance money and looked to help another friend, who had been successfully speculating on houses in Pennsylvania. I strongly recommended against real estate as an investment. I hope she took the advice.

Money by Joe WilcoxOct 15, 20057:55 pm

It's Just Too Easy

Yesterday, I received a postal mail offer from one of the local car dealers for a pre-approved auto loan. The paper had a toll-free number to call with a code to get the loan amount. Being in a curious mood, I rang and discovered that (supposedly) I was pre-approved for $22,500. Walk in and walk out with a car, no money down.

We drive a clunker 1989 Volvo 740 that my wife curses almost everyday. So the idea of a new car is appealing, and $22,500 is lots of spending power. It’s a helluva lot of debt, too. As momentarily tempted as I was, no car loan. We’ll drive the clunker and get by.

Culture by Joe WilcoxOct 14, 200510:11 pm

The Corporate Cycle of Life

Yesterday, I had an engaging IM conversation with Nate Mook of Betanews fame about companies and how they operate. The topic had been Microsoft and its position with respect to younger companies. The IM exchange below picks up where Nate speaks of a book he is reading.

Apple by Joe WilcoxOct 4, 20053:45 pm

The Bronchitis Post

I have been sick with bronchitis, which has screwed up my day job work schedule and affected posting here. But I got some prescription drugs from the doctor today and expect recovery in a few days. I take an eclectic approach today.