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What Do You Do When Your Computer Starts To Die?

Monday, May 4th, 2009

How spending habits and the way we view appliances are affected by the changing economy…

Many people are trying to save money and are getting appliances repaired instead of automatically purchasing a replacement.
Both car and computer repair shops have seen a huge spike in demand for their services.
Consumers are taking better care of their cars and other household items in order to save money.

Facts & Figures

Computer repair business’ revenue is 30% higher than a year ago.
Consumers are extending the lives of their vehicles to nearly 10 years on average, from eight just two years ago.

Best Quote

“I had a lot of customers who had an imaginary threshold. They’d say, ‘I won’t fix it, I’ll unload it.’ Those customers are rethinking that threshold and saying, ‘Maybe I’d better take better care of my car.’” – John McWilliams, Service Manager at Autobahn Motor Works of Bethesda, MD

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Your Music’s Gone Digital. Your Photos Went Digital. Ready For Your Books?

Monday, May 4th, 2009

New technology could really affect the way you learn, get your news, and relax.

In late 2007, Amazon’s Kindle redefined electronic books. Not only did it have an E-ink screen (which doesn’t strain your eyes like LCD screens), but it also included high-speed wireless connection so you could download new books directly from anywhere in the U.S., at no extra cost.
Now, Amazon has released the Kindle 2. There’s no major redesign, but it is faster and a bit more polished than the original.
If you’re already a Kindle owner, no dire need to upgrade just yet. But if you’re buying your first ebook, this is a good place to start.

Facts & Figures

The Kindle’s Eink screen uses small shape-shifting ink-like capsules to form print-quality text that doesn’t strain your eyes at all.
The Kindle 2 features accident-proof buttons, a thinner body (.36 inch), more built-in memory (2 gigabytes), a joystick navigation button, 4x higher screen quality, better battery life, and a robotic voice for the option to listen as an audiobook.
The Sony Reader is Kindle’s only real competition, though it’s $30 more and doesn’t have Kindle’s favorite feature, wireless connection.

Best Quote

“The new Kindle 2 is less of a revolution, and more of a refinement.” – Seth Porges, bloomberg.com

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Is The Recession Really Almost Over?

Friday, May 1st, 2009

Looks like some aren’t buying into doom and gloom predictions for the future of our economy…

Analysts at JPMorgan Chase and Barclays are optimistic about the U.S. economy rebounding in late 2009.
Causes for optimism include increased consumer confidence, an improved credit environment, and government stimulus funding – all of which should increase spending and bolster the housing market.
Others aren’t so sure – Deutsche Bank predicts the economy will continue to get worse through the end of 2009. And according to Credit Suisse, rising unemployment and lower salaries will mean that any short-term improvements will soon give way to another contraction in consumer spending.

Facts & Figures

The U.S. economy shrank at a rate of 6.1% in the beginning of 2009 – the worst contraction since the recession of 1957-58.
Consumer spending represents 70% of the U.S. economy.
JP Morgan and Barclays predictions for the rest of 2009: Continued contraction of 2% in the 2nd quarter, growth at 1% rate in 3rd quarter, and an increase to 2% growth rate in 4th quarter.

Best Quote

“We’re probably hitting the bottom around now.” – Larry Kantor, Head of Research at Barclays

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Economic Downturn Leads To Unexpected Career Choices

Thursday, April 30th, 2009

One man’s career turn-around in the face of economic decline shows us how finance and philanthropy intersect and how a trying situation might lead down a fulfilling path.

After a successful career at Bear Stearns, Kip Schaefer left the private sector and now works for the National Philanthropic Trust.
His masters degree from NYU’s fundraising program, combined with his finance background and outgoing personality, made him the top candidate for the National Philanthropic Trust’s opening for director of institutional business development.
He relied on passion and gut feelings to guide his decision-making when he ended up with two promising job offers.

Facts & Figures

In the last decade, the number of nonprofit groups has increased nearly 40%, to 1.4 million organizations.
$306 billion was raised in 2007 by nonprofit organizations.
Thirty programs around the country offer master’s degrees in nonprofit study.

Best Quote

“Align your intuitive spirit with your career goals.” – Kip Schaefer

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Your Grandparents Had War Bonds. You’ll Have Climate Bonds.

Thursday, April 30th, 2009

Not your Grandma’s socially responsible investment, climate bonds address one of the most pressing issues of our generation: climate change.

James Cameron of Climate Change Capital has proposed environment bonds (also called climate bonds) as a way for governments to raise money to develop clean technology.
Bonds offer secure returns, which should appeal to investors in the current economic climate, as well as contribute to the sense of renewed idealism among investors who seek to use their finances for good causes.
Environment bonds would be directed to the new technologies and infrastructure needed to lower and trap carbon emissions.

Facts & Figures

Bonds were created in the 20th century to fund World War II fighting efforts.
From 2000-2030, carbon dioxide emissions are predicted to increase by 40-110%.
It takes carbon dioxide 100 years to filter out of the atmosphere.

Best Quote

“I sense that there is now will for people to put their money to productive use. There is something powerful in the idea that, ‘My money built that and it works and I use it.’ Building things for a purpose that binds investor, worker, user – and society – is a noble cause.” – James Cameron, Executive Director of Climate Change Capital

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Facebook A Fundraising Flop For Non-Profits

Tuesday, April 28th, 2009

It was a good idea, but it hasn’t quite worked out on popular social-networking site Facebook. Have you joined a Cause? Have you given money to that Cause?

The “Causes” Facebook application has become popular among nonprofits hoping to raise money through the vast circles of people connected through social networks.
While many organizations have no difficulty getting users to become supporters (no financial commitment is required to become a supporter), very few have had success raising money from those supporters.
Although Causes is free for organizations to join, it often uses a significant amount of staff time for nonprofits to develop and maintain their presence on Facebook.

Facts & Figures

Fewer than 1% of people who join a Facebook Cause actually donate money to that Cause.
More than 25 million Facebook members (of 200 worldwide) have signed on as a supporter of at least one Cause, but only 185,000 members have actually given money through the site.
Only two organizations (out of 179,000), the Nature Conservancy and Students for a Free Tibet, have raised more than $100,000.

Best Quote

“I definitely think it’s first and foremost a tool for brand and reputation. It definitely does more for influence than for fundraising.” – Sue Citro, Digital Membership Director at The Nature Conservancy

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Philanthropists Tightening Belts To Get Most Bang For Their Buck

Saturday, April 25th, 2009

The changing economy can affect which ways of giving are best for you…

Increasingly donors are closing private/family foundations and choosing to take advantage of the many benefits of donor-advised funds.
Advantages include an immediate and bigger tax deduction, lower administrative costs, more diversified giving options (including cash, stocks, and art), no annually required distribution amounts (foundations are required to give away at least 5% of their assets), and increased efficiency and privacy for the donor.
Donor advised funds can be found both in large investment firms such as Fidelity and Schwab, as well as religious, university, and community foundations.

Facts & Figures

There are more than 64,000 private foundations in the U.S.
Americans give more than $300 billion annually to charity.
In 2007 there were $27.7 billion in donor-advised funds – up from $7.5 billion eight years earlier.

Best Quote

“We all agreed that it was impractical to continue it.” – Charles Buchanan, heir to the stewardship of a corporate foundation

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Gas Is Going To Cost You No Matter What The Rest Of The Economy Is Doing

Saturday, April 25th, 2009

This story explores how, thanks to a small group of powerful individuals, oil prices will remain high despite changes in demand.

Though oil prices initially dropped when the global economy began to falter, they have recovered and stayed more or less stable – even as demand for oil continues to drop.
This doesn’t really make sense economically – according to the law of supply and demand, prices should be plummeting as unemployment around the world grows and oil consumption slows.
But as other markets remain volatile, investors are seeking the relative safety of oil. Oil production is tightly controlled by OPEC, which can keep prices stable by limiting supply when demand decreases, and vice versa.

Facts & Figures

In July of 2008, the price of oil rose as high as $140 per barrel. By December, the price had dropped to $33 a barrel. Today, the price fluctuates somewhere between $40 and $50 a barrel.
Demand for oil is expected to drop 2.8% this year – to 83.4 million barrels per day.
Oil inventories are at their highest level since 1990, but members of OPEC have cut production of new oil by approximately 3.5 million barrels a day.

Best Quote

“This is a measure of just how abruptly the world economy has fallen in recent months, and how dire and uncertain its future prospects have become. De-globalization may already have begun.” – from a report published this month by PFC Energy, a consulting firm

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What’s The Worst-Case Scenario For The Financial Crisis?

Saturday, April 25th, 2009

It could just start with “Sale” signs at your favorite stores. Unfortunately, Spain is getting a glimpse…

Several European nations – most notably Spain – are facing deflation in the wake of the global financial crisis.
As consumer demand continues to drop, Spanish merchants are cutting prices, salaries, and employees just to keep afloat.
Because Spain’s currency (the Euro) is now governed by the European Union, there is very little the Spanish government can do to control potential deflation (such as slash interest rates or devalue the national currency).

Facts & Figures

Spain’s unemployment rate is currently 15.5% and could reach 20% in the near future. Among workers under 25, the rate rises to 31.8%. In comparison, the unemployment rate in the US is under 9%.
La Casa de la Caridad (Valencia’s main soup kitchen) expects to serve 12,000 meals to needy residents in April – three times as many as last year.
Since last year, wholesale prices in Japan dropped 2.2% and 8% in Germany; in the U.S., the Consumer Price Index dropped for the first time since 1955.

Best Quote

“Alarm bells are going off. Economies can recover from deceleration, but it’s harder to recover from a deflationary situation. This could be a catastrophe for the Spanish economy.” – Lorenzo Amor, President of the Association of Autonomous Workers

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Designers Refuse To Bargain

Monday, April 20th, 2009

How far are designers willing to go to make sure you pay full price?

Clothing designers and department stores are facing a growing conflict as the economy continues to suffer: Who controls pricing?
Luxury brands are unhappy that department stores have the power to slash prices on their products, undercutting their luxury images and raising questions about how much a $1200 Piazza Sempione dress is really worth.
Some designers are following the strategy adopted by major airlines when low-cost websites began buying tickets in bulk and slashing their prices – limiting inventory.

Facts & Figures

More than 40 designers requested that their products be left out of a recent Saks “Friends & Family” sale.
In a step away from department store control of her product, Eileen Fisher is building 6 new stand-alone stores this year.
LVMH, which maintains tight control of its brand and pricing by renting boutique space inside department stores, posted a 10% profit in the fourth quarter of 2008.

Best Quote

“Even wealthy people don’t want to be ripped off.” – Eileen Fisher, Designer

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