Your money: May 2008 Archives

Happy almost end of the work week. Here's what you need to know before you head out for the weekend:

People aren't cutting back even though gas is almost $4 per gallon.

Finding a summer job could be tough this year.

York Water investors to get a dividend payment.

The government is investigating the oil speculators.

The government has been investigating oil speculators for the past six month, it revealed today. Not many details were released, but the focus of the investigation is possible price manipulation.

Oil prices are up 42 percent since December. See article here.

The next time your trash bill comes, think about how angry you would be if someone started stealing it before the garbage man came in the morning.

Angry? You'd be delighted, right? No more having to pay the bill if someone hauls it away on a regular basis free of charge. But who would want to steal your trash, right?

Because spam is so cheap and last seemingly forever, its sales are up and maker Hormel sale profits increase 14 percent in the second quarter.

You can check the full story here.

Are you buying more spam? Or what other measures are you taking to deal with rising food prices?

Worst way to start the morning ever:

Check out this cool map to scope out where the area's cheapest gas is. How far are you willing to go to save a few bucks at the pump?

This paragraph in a recent Consumer Reports article caught my eye:

"Lots of you have been fooled by fruit juice you've plucked off store shelves, if reader letters are any indication. A Maryland reader found that an Ocean Spray juice (recently discontinued) labeled "blueberry, pomegranate, and cranberry" listed grape and apple juice first on the label. An Arizona reader saw "orange fused pineapple" on a Sunny D package but discovered the contents were mostly water and high-fructose corn syrup with 5 percent juice, none of it pineapple. Then there's the surprise a New York reader got a while back from a bottle of Veryfine Fruit2O Plus Citrus Energy Boost, no longer made. The contents: artificially flavored water, vitamins, and caffeine."

Weis grocery stores have started a new gas incentives program that runs until the beginning of July.

Customers who spend $50 in one purchase save 10 cents per gallon. Spend $100 in one purchase and save 20 cents. Etc. Etc. Basically for every $50 you spend in one purchase at the store, you save 10 cents at the pump.

This differs from the store's last incentive where customers earned 10 cents per gallon for every $50 they accumulated in a given time period. Customers could spend $5 one day and $10 another and those amounts were totaled. For every cumulative $50 spent, customers saved 10 cents.

Which program do you prefer?

I hope you all enjoyed your day off and celebrated outdoors in style. We certainly had the weather for it. But now it's back to reality and time to chug our way through a short work week.

Here's a look at what's coming up.

You may remember last week I posted about the free gas contest that started yesterday at Rutter's. You can find more info here.

Dress for Success is holding a fundraising event on Sunday June 1. The Afternoon Tea is from 2 to 4 p.m. at the Holiday Inn East on Lindle Road in Harrisburg. For more information about the event, check out the organization's Web site.

If you're interested in networking opportunities, check Sunday's Money and More for a list of the groups meeting this week.

Another week's just about over and we have a long, holiday weekend to look forward to. I'm excited and I'm sure you are too.

But before we part ways until Tuesday, here's a quick look at the top business news.

For hundreds of years we have been discriminating against the blind.

No one is buying high-priced clothes because the economy stinks.

Hate to beat a dead horse here: Oil prices are up.

Let's add another fee to air travel.

Nothing like high gas prices to make me want to get away this weekend.

If that news all depresses you, just think in a few hours you can be sipping one of these in one of these.

Hybrids may have been hip, trendy cars a few years ago, but now for some people they are becoming a necessity as gas prices continue to rise.

Because they are in such high demand, car dealerships are seeing them fly off the lots.

One dealer quoted in this story said, "I'm selling every one I can get my hands on. The day the car comes in is the day the car goes out,."

He has a 30-day wait list for the Prius and only one Camry hybrid left on his lot.

Have you considered buying a hybrid to help with the gas costs?

As a runner, I need to replace my sneakers once every few months or else they get really worn out. I never really thought too much about it. The shoes are expensive, but a necessary expenditure that I budget for.

This morning, another blogger tipped me off to a great study that found people who buy more than three pairs of sneakers per year are more likely to have leadership personalities. I think it's a great study that makes me feel better about forking over $90 bucks for a pair of sneakers.

One of my co-workers told me she usually doubles that amount in a year. Wonder if that means she has even more leadership-type qualities?

What about you? How many pairs of sneakers do you buy each year? And do you feel better about it now?

I hope this post catches you before you've gone out and stocked up on sunscreen for the summer. I came across the most interesting article this morning on the benefits of mineral sunscreens over chemical sunscreens.

Some of the information was pretty eye-opening. Chemical sunscreens use different chemicals to absorb the UV rays, but those chemicals can cause health problems. According to the article, "In a 2004 Environmental Health Perspective study, another sunscreen chemical, Padimate O, was found to cause breast cancer cells to multiply in test tubes."

Apparently it's not worth it anymore to let your engine run when you are stopped instead of idling it. Modern fuel injection takes care of those problems, so just turn your engine off when you're going to be stopped for more than a few moments.

That was just one of the good fuel-savings tips in an article I saw on CNN this morning.

The list was one big duh (don't tailgate or drag race away from traffic lights and stuff like that) until I got to No. 5. That one was a paragraph filled with a bunch of old wives' tails about idling your engine that were contradicted. No. 6 wasn't bad either.

To see the list, click here.

This morning, my phone rang, and on the other end was John Shelley, owner of John Shelley's Garden Center and Nursery, a southern York County landscaping business that caters to those who want new landscaping designs for their homes using higher-end plants.

And after two minutes on the phone, I wish I would have gotten him into a story that was already in today's paper.

What he told me was this: He got out of the vegetable gardening business years ago, but starting recently, his ornamental landscaping customers began requesting something a bit odd. They wanted raised garden plots - patches framed with timbers for growing vegetables -incorporated into their designs.

"People want to grow a Victory Garden in their backyard," Shelley told me, referencing a government initiative during World War II.

No, it wasn't in the middle grade or premium column. It was for regular. Saw it on my way in to the office this morning on Carlisle Road.

Last night, I was relaxing in my living room watching a not-so-cool Arnold Schwarzenegger movie when my door bell rang. Standing on my porch was my next door neighbor tying to explain that a man was in her home vacuuming her mattress.

Ok, you have my attention. I'm listening.

It seems that a door-to-door vacuum cleaner salesman has talked himself in to her home and, at the moment, was demonstrating for her husband the magical powers of said super sucker. Like her husband, I too was impressed with the cleaning ability of this space-aged vacuum cleaner.

Comcast's customer service ratings dropped to an all-time low and the cable provider sits at the bottom of the list of cable and satellite providers, according to the University of Michigan's American Customer Satisfaction Survey.

The survey comes out right after Comcast introduced three more high definition channels in the York market -- ABC Family, Disney Channel and Science Channel.

Spokesman Gabe Weissman has said Comcast is dedicated to bringing more high definition services to its customers.

The satisfaction survey gave Comcast a score of 54 out of 100 and said the company's rapid growth could have played into its customer service problems.

Technically the free gas giveaway at Rutter's doesn't start until next Monday, but I still wanted to fill you in because right now I love the thought of free gas.

Basically if you stop by a Rutter's from May 26 to Aug. 24 and buy select convenience store specials you receive an entry form. The more entry forms you collect the better chance you have of winning.

There will be four drawings to select the four winners.

You can check here for all the details on how you could possible win a gas card worth more than $8,000.

Just before you leave work, here's the big biz stories of the week.

Oil prices keep climbing.

Who's surprised the Saudis aren't going to produce more oil?

We're not going to put oil in reserves anymore.

Pamper the cows and they'll produce more milk.

Craigslist is throwing punches.

The big story on Money & More this morning (Tightening up on tips) is about how people who earn tips are suffering as people who give tips tighten their purse strings. It's a story my mother could have seen coming in this economy.

Mom worked a lot of part-time jobs when we were growing up. Most involved long hours on her feet, smiling at unsmiling people. They usually relied on tips. And when you really rely on those tips, you learn how to get blood from a stone.

One of the most valuable lessons she ever taught me came on the night of Nov. 6, 1979; the night Ronald Reagan defeated Jimmy Carter in the presidential election. Mom knew that would be a prime night to earn tips.

When our religion reporter was at the gas station this morning, she heard one customer saying he put more than $73 worth of gas into his tank. Ouch.

We've been writing a lot about the increasing cost of food and gas. Now we want your opinion.

Food prices made the biggest jump they've made since 1990 in April increasing 1 percent, but while that number may be troubling for some, the Bureau of Labor Statistics is taking a more positive look.

According to the number released yesterday, core inflation, which doesn't include gas and food prices, rose only 0.1 percent.

The story of my colleague Sean and I fixing his lawnmower on our own began to circulate in the office the other day. It started with a murmur on the other side of the room, and before I knew it, two of our editors were next to my desk.

I don't want to think about the hours of time in classes they spent (and that I have spent for that matter) to learn a specialization, only to have something so basic to everyday life as getting the lawn mowed be a blind spot of knowledge.

This is Steve. It's also how April is spending her stimulus check. Read on for more details.

I have to give major props to the Consuming Interests blog at the Baltimore Sun for introducing me to the best link ever.

Seriously, I'm not exaggerating, How I Spent My Stimulus is hilarious.

People from all over the country send in pictures and little blurbs of what they are doing with the money from Uncle Sam.

Here's a sampling of what people said:

Don't think that you're the only one using your tax rebate check to pay for gas and food while your friends are out buying big-screen TVs and clothes. A National Retail Federation survey has found that more people are spending the bulk of their checks on necessities like gas and food than discretionary purchases. Check out the survey. How have you spent your check?

Consumer sales dropped 0.2 percent in April, according to the Commerce Department.

The biggest drop was seen in the auto industry, where sales dropped 2.8 percent reflecting the problems the auto industry is having because of high gas prices.

If you remove the auto industry from the equation, consumer spending actually rose 0.5 percent in April.

Economists say this increase shows a resilient American consumer even though times are tough.

Growth in 401(k) plans has slowed in recent years, in contrast to the expansions they saw in previous years, but those who had plans were accumulating considerable wealth, said Craig Copeland, the author of the the Employee Benefit Research Institute study today.

Here's a quick rundown of what the study found according to the news release.

Last month Dunkin' Donuts gave out free donuts with the purchase of a coffee to celebrate tax season ending. This Thursday it's giving free iced coffee because it's the annual Free Iced Coffee Day.

According to the news release Dunkin Donuts plans to give out close to 4 million cups of free iced coffee Thursday.

Here's some fun stats from the release about what other things you could do with all that coffee:

As we're about to close out another week, it's time for the weekly round up of top biz stories this week.

Speed networking is all the rage.

The Business and Tech expo was on Tuesday.

First quarter homes sales weren't so good.

Even fairly well off people are turning to discounters.

Flying just keeps getting more expensive.

And because I hate to leave you with depressing news on a Friday afternoon, check out this video shot by photographer Paul Kuehnel.

Right now, my home is a pile of clutter three times what the quarter-house apartment can hold. It's my wife's belongings (we just got married), my belongings from my previous apartment, and all the stuff we got for wedding presents so we could start our lives together.

Too much stuff. I just want to purge. But I just can't. It's possibly stuff someone could use. Or maybe not. How did it get this bad?

Do you feel like clutter is imposing on your life? What do you do about it?

Guest posting is a new feature I'd like to start on the business blog. But in order for it to work I need your help. If you'd like to be featured in one of our guest posts, e-mail me your submission about something in the business world that you observe. It could be anything from business tips to the latest news on gas prices or just something interesting you observe while you're out and about.

This week's guest post comes from Greg Royer. Royer is president of the Pennsylvania Floral Industry Association and president of family-owned Royer’s Flowers & Gifts and Stephenson’s Flowers & Gifts, which operate 18 stores in central Pennsylvania.

Royer shares some tips for ordering your Mother's Day flowers.

When money gets tight, you'd be surprised what you can do yourself. My colleague here on the business staff broke his lawn mower the other day, and it sounded like a simple fix, so I decided to help him out with it last night.

It was either that, or he would have to pay a few hundred dollars for a new lawn mower, or get put on a two-week waiting list at the local repair shop.

No offense to my father and mother, my sister, and my new cousin-in-law. But I don't want to drive an average of 400 miles per weekend to see them for the rest of this month.

But these people are close to me. They are family. I want to cut out the driving, not seeing them.

So really, what are my options here?

If you can't make it to the expo today but are still interested in finding out what's new and interesting, you'll want to check back with Mind Your Own Business throughout the day.

I will be spending most of the day at the Toyota Arena and will post updates as I see the various exhibits and talk with different presenters.

If you have a specific question about a booth or a presentation e-mail me or leave a comment and I will do my best to get it answered.

The York County Chamber of Commerce Business and Technology Expo is tomorrow at the Toyota Arena.

According to the news release, here's a few things you can expect to see if you check it out:

* Integrity Bank will focus on their Express Banker remote banking product. The bank provides a desktop scanner that allows a customer to make all of their business deposits of checks from the convenience of their desk.

* Dallastown Area School District is demonstrating a “smart” classroom highlighting the use of laptop computers, LCD projectors, a smart board—an electronic whiteboard—and student response systems, as well as using software to show the educational uses of these tools.

I'm trying to get as much mileage as I can out of my trip to Europe last month. The way the economy is going, it's the last time I'll be there until after I'm dead. And that's only if I get cremated and my ashes get blown all the way across the Atlantic.

Anyway, they have a lot of these Smart cars over there, and I think the coolest thing at first glance is that you can back into a parallel parking spot, with your bumper to the curb and the hood toward traffic. And you still don't stick out any farther than a normal sized car.

I wanted one.

Then I got back to the states, and realized why no one has one here: SUVs.

I recently opted for a non-HMO health care plan and will reap the benefits of it this weekend. I was able to get an appointment with a podiatrist tomorrow, less than 24 hours after I realized I needed to go see one. I will spare you the details.

Suffice it to say, it took much longer to get an appointment the last time, when I had an HMO. First, I had to go to my primary care provider - a very good doctor, but one who was only able to look at my foot and say, "Yup, you need a referral." That I'm sure cost my health provider a pretty penny, though, for the visit.

Then I went to the doctor who could help. But this time around, I cut out the middleman. And isn't that the easiest way to save money? Also, the lag time from appointment to appointment is saving me several days of pain. And isn't that the goal of medicine?

So then why are HMOs the way so many companies go? For many, they are the only option in our employer-based health care system. Is there something I'm missing here?

While the weekend forecast might not be looking so sunny, I think we can all agree that Friday afternoons are a bright spot in the week because the weekend is thisclose.

To help you make the final push through the last few hours of the week, check out the hot business stories of the week.

You probably shouldn't be resting your eyes at work.

Have you gotten your rebate check yet?

Everyone's trying to figure out what the falling gas prices mean.

Rice is in short supply.

Things look good for Comcast.

Did anyone notice that regular gas prices have dropped? Local regular gas prices dropped 0.3 percent today from a Wednesday high of $3.644 to $3.633 per gallon, according to AAA’s Daily Fuel Gauge Report. Do you think gas prices will continue to drop or is this just a minor speed bump on our way to $4 a gallon?

Are you getting ulcers from layoff worries and want to find something with a little more job security, but don't know where to start?

Perhaps it's time to get back to basics, and ask yourself this question: If you were a customer, how bad would things get before you would stop buying the product you are selling or making, or service you are providing?

I have a laptop that blew up on me going on two years ago. I haven't fixed it. My wife and I have a desktop that serves our needs OK. I can spend that money elsewhere, like on food.

I did a story the other day about Glatfelter's push into making coffee and tea filter papers. No one will give up a morning cup of coffee or tea until well after they've started sewing their own clothes and supplementing their grocery shopping with the backyard garden, or so the logic goes.

It's an example of a company looking to make their business as recession-proof as they can.

Are you plotting a move to a "safer" career? If so, let us know where you are now and where you want to go.