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Recent Veterans Get Fresh Start With High-Tech Training

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NS2 Serves second class of graduating veterans assemble for a class photo
John Harrington/Harrington+Richardson Photographic ServicesNS2 Serves' second graduating class.

Veterans from the second era of the Gulf War continue to face higher levels of unemployment than their civilian counterparts, and one new program is focused on making a difference in their careers --and their lives.

NS2 Serves says its signature program is training "recent veterans of U.S. national security missions ... in world-class software solutions that support U.S. national security."

According to the Bureau of Labor Statistics, from January of 2014 through January of this year, the unemployment rate stayed at 7.9 percent. However, the number of such unemployed veterans grew to 219,000, up from 189,000 in that span. The national unemployment average is at 5.7 percent -- holding below 6 percent since September.

President Obama took a portion of his State of the Union address to call on businesses to hire more returning service members. "So to every CEO in America, let me repeat," he said. "If you want somebody who's going to get the job done and done right, hire a veteran."

Multiple organizations, training centers and groups help returning veterans, with the independent nonprofit NS2 Serves focusing on helping post-9/11 veterans to get high-tech careers.

NS2 Serves

For NS2 Serves, ideal applicants are zero to three years out of military service, and they have an interest or background in information technology. It received close to 450 applications for its first two free programs, which includes 12 weeks of certification training, a monthly stipend, room and board -- and a bonus for passing certification.

NS2 Serves President Mark Testoni had a clear vision for what the program should do. "Let's really do something," said Kristen Sanchez, the nonprofit's director of marketing. "Let's train these veterans and make sure when they come out that they are trained in a skill where we can place them in a job and kick-start their careers."

NS2 Serves boasts a 100 percent hiring rate for its 37 graduates, with jobs at Walmart (WMT), Computer Sciences Corp. (CSC) and other prominent companies. It is seeking more corporate donors to increase the program's offerings as its third class begins this March.

Teaching the Veterans

Jennifer Canady, a 16-year veteran of the Army, accepted early retirement from a position as a military chief foreign officer that took her around the world. With two months out of the service, Canady knew if she wanted to change careers from her specialties, NS2 Serves would be the place to start. "If I didn't cut the umbilical cord now, I never would."

NS2 Serves graduate Mark Brummitt, a retired Army Sergeant First Class, spent 13 years in various military police and intelligence positions. He was equipped to transition to the civilian workforce with relative ease, except for injuries that made continuing impossible. Nevertheless, the husband and father of two spent his first year out of the service working and saving as much of his retirement pay he could. At the same time, he served in his Missouri church and built his own veterans assistance program, Who's Saving Who.

Like many veterans returning with long-lasting wounds, Brummitt found himself feeling like "half of a man" who didn't want to appear "broke" to his young son. "As a person coming out of the military, there's a lot of depression and struggles going along with losing everything you worked for," he said. "I struggled with that for a long time."

"NS2 [Serves] didn't provide a handout. They provided me the resources and ability to do it myself," he said, sharing a similar sentiment of many program graduates.

Ready to Work

Canady believes veterans are well-equipped to work in the civilian workforce right away, with just a few tweaks. "I think it's a culture change more than anything. In the military, everything is set out for you." She notes that the work ethic and discipline is already instilled in the veterans, and they just need to adapt to the work culture and ease up on military lingo. She notes that NS2 Serves helped bridge those gaps for students and recruiters alike. "Though we still talk military talk," she joked.

She advised veterans transitioning to civilian life to start early. She emphasized the importance of attending even non-required military transitioning classes to learn more about their impending change.

"What NS2 Serves is providing is unlike anything I've seen," Brummitt said of the proverbial IT boot camp. "They gave me an opportunity. I couldn't thank them enough."

 

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Last Week's Biggest Stock Movers: Aeropostale, MagnaChip

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2014 Holiday Shopping Windows - New Orleans, Louisiana
Josh Brasted/Getty Images
Plenty of stocks go up and down in any given week. The gainers inspire us to keep investing. The decliners keep greed in check while reminding us about the risks of the equity markets.

Let's go over some of last week's best and worst performers.

Aeropostale (ARO) -- Up 45 percent last week

Investors in the struggling mall retailer caught a break after the chain updated its guidance for the recently concluded holiday quarter. Aeropostale's net sales for the fiscal fourth quarter ending two weeks ago fell 11 percent from the prior year to $594.5 million. Comparable-store sales slipped 9 percent.

This may not seem very encouraging, but it's better than expected. Match that up with better-than-expected margins and expense management through January, and Aeropostale now sees its quarterly deficit clocking in at no more than 6 cents a share. Its earlier forecast called for a net loss of at least 25 cents a share.

CafePress (PRSS) -- Up 35 percent last week

Sometimes an asset sale resets the perceived value of an entire company. CafePress shot higher after agreeing to sell its art business in a $31.5 million cash deal. This is important because the seller of one-off creations generates just 20 percent of its revenue from the art business that it's selling to Circle Graphics. CafePress was commanding a market cap of just a little more than the price of the transaction before the deal was announced.

Shareholders may be relieved, but longtime investors are still far away from being made whole. The stock continues to trade at nearly 85 percent of its IPO price of $19 just three years ago.

FireEye (FEYE) -- Up 17 percent last week

Internet safety is getting more important, and that's great news for cybersecurity firms like FireEye. It posted blowout quarterly results on Wednesday. FireEye came through with a smaller-than-expected adjusted deficit, but the real head turner is that revenue more than doubled by soaring from $57.3 million a year earlier to $143 million this time around.

MagnaChip Semiconductor (MX) -- Down 50 percent last week

The New York Stock Exchange's biggest loser last week was MagnaChip. The South Korean designer and maker of analog and mixed-signal semiconductor products shed half of its value on Friday after restating the past few years of financials.

MagnaChip updated its 2011, 2012, and 2013 fiscal years along with restating the first three quarters of 2014. Some periods that were initially expected to be profitable wound up being marred with red ink. Wall Street wasn't impressed. Topeka Capital Markets slashed its price target on the stock from $14 to $9.

Zulily (ZU) -- Down 24 percent last week

The market also didn't warm up to zulily's latest quarterly report. The online apparel retailer may have seen sales climb 52 percent over the prior year's holiday quarter, but earnings and free cash flow declined. It also didn't help that zulily offered up weak guidance for the current quarter. Several analysts -- including RBC Capital Markets, Robert W. Baird and Canaccord Genuity -- downgraded the stock following the report.

Zynga (ZNGA) -- Down 18 percent last week

Former social gaming darling Zynga continues to struggle. The stock took a hit after posting uninspiring financials. Revenue and bookings may have inched higher, but Zynga posted another quarterly loss as active users and unique payers slipped from a year earlier. The stock hit a new 52-week low, and its ample cash reserves now make up nearly half of its market cap.

Motley Fool contributor Rick Munarriz has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. Check out our free report on one great stock to buy for 2015 and beyond.

 

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Video Game or Investment Tool? New Apps Are Both

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http://getbux.com
By Sudip Kar-Gupta

LONDON -- Twenty-something consumers raised on video games such as "Grand Theft Auto" and "Angry Birds" are being wooed by financial trading apps, keen to build bridges with a post-crisis generation uninterested in financial services or plain mistrustful.

Bright colors, cartoon graphics and the ability to trade risk-free with virtual credits are features of apps such as Bux and Kapitall, which eschew financial lingo and complex charts in favor of competitive head-to-head battles and motivational messages like "OMG!" after placing a trade.

While financial trading is a niche slice of the $15 billion mobile gaming industry, two-thirds of U.K. retail traders already use their smartphone or computer to buy or sell and app makers are sensing an opportunity. "Developers are realizing that games are played by all kinds of people with different desires and motivations, and the same kind of person who is hooked on a computer video game may seek a similar thrill from the stock market," said Kam Star, founder of games development studio PlayGen.

Nick Bortot, a former executive at online broker Binckbank, set up Bux last year in Amsterdam and London. Bux's launch followed that of similar firms Kapitall and invstr. Both Bux and Kapitall offer players the chance to play games such as challenging each other on how stocks might perform, but they also offer players the opportunity to go from playing for points to betting actual money.

"I got hooked on Bux instantly, playing for fun, and trying to understand how shares and markets work. Since mid-December, I have been trading with real money," said Nathaniel Brooks, a 28-year-old manager and Playstation aficionado.

A Matter of Trust

All three companies hope their bright graphics and games can lure a younger audience to the sometimes-arcane world of finance, the least-trusted industry in the world, according to a 2014 survey by communications company Edelman. By contrast, technology is the most trusted.

For now, invstr is only focusing on games that allow people to predict where markets may go for virtual points, and on building up a community of users, but the company may also let people bet real money at a later stage.

Bortot said only 5 percent of Bux users converted from virtual play to real money, but there were still ways for Bux to make money from mere players. He said the company would charge add-on fees of around $1 to top up a "funBux" virtual account, or to follow top traders on the Internet. For those converting from play money to real, Buxwould then charge commissions of around 45 cents per transaction, far cheaper than online brokerage costs at bigger, more mainstream firms.

Some were skeptical over the prospects of such firms, while others expressed concerns over the possible trivialization of trading on financial markets. "We are aware that the two markets are converging, but we are keeping our financial trading and gambling parts quite separate," said Shai Heffetz, managing director at InterTrader, which is owned by gambling company BWin.Party.

Nevertheless, technology analyst Susan Anthony at brokerage Mirabaud Securities said the business could be worth exploring. "Whether or not these things become killer apps is hard to predict, but I can certainly see how they might become quite addictive for some."

 

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How Hackers Took as Much as $1 Billion From Banks

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Consumer Borrowing
Gene J. Puskar/AP
By JOSH BOAK

WASHINGTON -- The hacker gang that looted as much as $1 billion worldwide from banks was unusual: It stole directly from the banks, instead of ripping off their customers.

But this was hardly a bit of Robin Hood banditry that spared innocent account holders. Security experts say consumers still need to keep a close eye on their checking and savings, as epic computer breaches such as this theft -- documented in a report issued Monday -- are becoming all too common.

"Customers are still at risk," said Sergey Golovanov, a researcher at the Russian cybersecurity firm Kaspersky Lab that released the report. "Criminals had access to all banking infrastructure, so they were able to get any data about customers."

Doug Johnson, senior vice president at the American Bankers Association, said there's no evidence that any U.S. bank has been a victim of this particular breach. Still, the report found that some of the proceeds were deposited with banks in China and the United States.

The hacks detailed in the report, which was presented at a security conference in Cancun, Mexico, are the latest twist on data breaches that have struck not just banks but the health insurer Anthem (WLP) and major retailers such as Target (TGT) and Home Depot (HD). And just like those thefts, experts say there are simple protections that consumers can take.

What You Need to Do

For starters, most American bank customers are insured against theft by the Federal Deposit Insurance Corp. The insurance applies to any sum up to $250,000 in checking, a savings account or a certificate of deposit at a U.S. bank. Still, more people have become vigilant about monitoring their transactions and responding to alerts from their banks if a charge or withdrawal appears to be suspicious.

"We all look at our bank statements a hell of a lot more carefully than 20 years ago," said John Gunn, vice president of communications at VASCO Data Security, which provides authentication software for financial institutions. There are other simple moves that individuals can do to guard their financial data, said Stu Sjouwerman, founder of the data security firm KnowBe4.

Even if it appears to be from their bank, people should never open email attachments that they didn't request. Nor should they click on links inside emails, but instead type the name of their bank into the Web browser address bar. And they should only provide a Social Security number or account information over the phone on calls that they initiated. "Those are the normal things you would recommend consumers to use," Sjouwerman said.

Friendly but Fake Emails

It appears as though the hacker gang accessed computers by having bank employees click on email attachments. The hackers relied on a technique known as "spear phishing," in which they sent emails from a fake account that looked familiar to the bank workers. Those emails infected the computer with a form of malware called Carbanak and gave the gang entry into the internal network, allowing them to mimic the actions of workers responsible for the cash transfer systems.

In a plan that smacked of a Hollywood thriller, the hackers then lurked unseen in the systems of more than 100 banks in 30 countries, according to the Kaspersky Lab report. Working in stealth for months, the group would learn how each bank operated and used that knowledge to steal up to about $10 million in each raid, a sum just small enough to go nearly undetected in the daily shuffle of money.

Their intended targets were primarily in Russia, followed by the United States, Germany, China and Ukraine, Kaspersky says. One bank lost $7.3 million when its ATMs were programmed to spew cash at certain times that henchmen would then collect, while a separate firm had $10 million taken via its online platform. The attacks remain active after about two years of thefts.

Investigations Continue

The report did not identify the banks involved and Kaspersky is partnering with law enforcement agencies to investigate the hacking that allegedly came out of Russia, Ukraine and other parts of Europe and China.

Just as the hacking has grown more persistent, banks say their defenses have improved. Johnson of the American Bankers Association said that $10 worth of fraud is stopped for every $1 that succeeds, compared to a ratio of one-to-one roughly a decade ago. The banks also insure against their computer networks being compromised and set aside capital to withstand any losses from fraud.

Yet the hacking attempts continue to evolve in ways that indicate the battle may never end. "These exploits are going to continue," Johnson said.

 

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How to Reduce Taxes on Your Social Security Payments

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Is Social Security Taxed? TurboTax Tax Tips Video

By Emily Brandon

Your Social Security payments in retirement might be taxable, depending on how much you earn and the sources the money comes from. About 40 percent of Social Security beneficiaries pay taxes on their benefits. Here's how to minimize the taxes you pay on your Social Security income.

Keep Your Income Below the Threshold

If your only source of retirement income is Social Security, you probably won't have to pay tax on your payments. "Most people do not have enough income to hit the threshold and have any of their Social Security income be taxable," says Nancy Altman, co-chair of the Strengthen Social Security coalition and co-author of "Social Security Works! Why Social Security Isn't Going Broke and How Expanding It Will Help Us All."

However, once the sum of your adjusted gross income, nontaxable interest and half of your Social Security benefit tops $25,000 for individuals and $32,000 for couples, you may have to pay income tax on up to 50 percent of your Social Security benefit. And if these retirement income sources top $34,000 for individuals and $44,000 for couples, up to 85 percent of your Social Security payments may be taxable.

But no workers pay income tax on 100 percent of their Social Security retirement benefit under current law. "Increasingly, more people will be paying because the thresholds that are being used are not adjusted for inflation or changes in average wages," says Eric Kingson, a professor of social work at Syracuse University. "It will extend down over time to more of the middle class." Workers collectively paid $20.7 billion in taxes on their old-age and survivors insurance benefits in 2013.

Know Which Income Sources Will Make Your Benefit Taxable

If you continue to work after signing up for Social Security and receive wages or self-employment income, that could push your income over the threshold and make your benefit taxable. Interest, dividends, taxable pension payments, traditional 401(k) and individual retirement account withdrawals and other taxable income could also lead to part of your Social Security benefit being taxable. Tax-exempt interest income, such as interest earned on municipal bonds or U.S. savings bonds, must also be included in the calculation that determines whether your Social Security benefit will be taxable.

However, money withdrawn from Roth accounts in retirement, which is typically not a taxable event, will not contribute to making your Social Security benefit taxable. "If you covert your regular IRA or 401(k) to a Roth, when you take the money out, there are not tax implications for Social Security," says Laurence Kotlikoff, an economics professor at Boston University and co-author of "Get What's Yours: The Secrets to Maxing Out Your Social Security." "The Roth money is not going to affect your Social Security taxes."

Another strategy to minimize Social Security taxes is to draw down your pretax 401(k) and IRA balances before signing up for Social Security, which will get you higher Social Security payments due to delayed claiming and lower or no taxes on the benefit. "You've got to get the money out of your 401(k) at some point, and you might want to do that before you start taking your Social Security benefit," Kotlikoff says. "You could take your 401(k) money out first and then start taking Social Security."

Have Your Income Tax Withheld

If you have to pay taxes on your Social Security benefit, you can make quarterly estimated tax payments or have the federal tax withheld from your benefit. To have the taxes deducted from your payments, you will need to fill out IRS form W-4V. Social Security beneficiaries can elect to have 7, 10, 15 or 25 percent of their Social Security payments withheld for taxes. Withholding the money can be easier than having to come up with the cash to pay your tax bill every quarter.

Watch Out for State Taxes

Social Security income might also be taxed at the state level. An analysis of state taxation of retirement benefits by the tax and accounting firm Wolters Kluwer found that 14 states tax Social Security payments for some retirees in 2014, including Colorado, Connecticut, Iowa, Kansas, Minnesota, Missouri, Montana, Nebraska, New Mexico, New Jersey, North Dakota, Rhode Island, Vermont and West Virginia.

 

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10 Genius Storage Solutions for Your Home Office

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Man working in home office by bikes and books piled by doorway
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By Christa Avampato

The holidays hit my home office like a tornado, but one of my New Year's resolutions was to get my office space spic and span and keep it that way. And with a genius storage system, a change in behavior and a few simple items that are inexpensive and widely available, I plan to do just that.

Sure, you could blow all your holiday gift money at the Container Store, but you don't have to do that. Here are the steps I took and items I'm utilizing to keep myself and my work, organized:

1. End clean, start clean. Throughout the day, my work unpacks itself: books, papers, post-its, pens and pencils, push pins, newspapers and magazines. So I end every day by tidying up my space and bringing order to the widespread disorder known as my desk. I write out a list of my tasks for the next day and place that list in the center of my desk so that I can start tomorrow with clarity and focus.

2. Wrangle papers. While the good ol' filing cabinet works for some people, it's a blackhole for me. Papers go in there and never see the light of day again. Instead, I bought a simple set of three stacked trays marked "urgent," "current" and "to scan." All of my papers make their way down the ladder in that order. When they hit the "to scan" tray, I use my desktop scanner and file them away in folders on my laptop hard drive. Neat is another wonderful option for receipt tracking and document scanning. With the push of a button and the accompanying Neat mobile app, you'll banish papers and keep your space clear from rampant paper clutter.

3. Get wireless everything. A few years ago I had a storage box marked "cords." In it I stored a tangle of cords for my many electronic devices. Even when they were wrapped and labeled, I couldn't stand that box and I hate the mess that wires cause in my home office. In that moment, I decided to go wireless as much as I could. The plethora of brands that now make wireless and Bluetooth-enabled devices have greatly reduced their prices and increased the available selection.

Some of my favorite wireless pieces are my wireless printer/scanner, wireless device charging pad and wireless mouse. I couldn't believe the peace and harmony I found in my office once I cleared the jungle of wires. I still have to charge some of my devices overnight but now I have a designated space for that charging and all the cords are neatly tucked away in a drawer under the table where everything charges after a long day of work.

4. Use just enough space. I move a lot. Last year alone I moved to three different apartments. When you move a lot, your items tend to follow you and they may not always be best for your space. To counter this, I keep everything as small as possible no matter how big my space is. My desk is only as big as I need it to be to fit the essentials of my trade as a writer: a laptop, a pad of paper, a jar of pens and a small desktop printer/scanner. The bigger the desk, the bigger the mess. I fill my space so I keep my work space, and furniture, small.

5. Find storage everywhere. Everything I have serves a double or triple purpose. I learned early on that all furniture needs to pull its weight in my space. There's hidden storage in everything. For example, the seat of my desk chair lifts up for storage and the desktop itself sits atop a hidden storage tray.

6. Use the walls. Because I keep my desk small, I make full use of my walls. I have hooks, cork boards, magnetic strips, and right-sized sturdy shelves woven in with art that inspires me on my walls. Walls resist clutter in a way that horizontal surfaces can't, so I use my walls as much as possible.

7. Choose a bright and simple color palette. My office space has a simple color palette -- white, brown, seafoam green and a dusty blue. That's it. It's a beautiful combination of brightness and soothing comfort because it reminds me of the sea, the sand and the sky. And because it's beautiful, I'm motivated to keep it neat so that it remains a place where I enjoy spending my time.

I also have just the right combination of light: natural light, desktop light, and an overhead light when I need to spread out a bigger project. I use the right light for the right time of day for the right project. By keeping it bright, clutter isn't able to hide from my view so I'm more likely to take care of it quickly and restore order.

8. No junk drawers allowed. Forget giving yourself an allowance of a junk drawer. It has a natural ability to grow without your permission. In 2015, I'm subscribing to the old philosophy of "a place for everything and everything in its place." I picked up mason jars of various sizes and a large set of small plastic boxes at my local dollar store to keep all those tiny desk items like paper clips, rubber bands and writing instruments organized.

9. Keep It Clear. This is a new idea I got when I was shopping around for organizing materials. If we keep them clear, we can easily see what's inside of them and the light that filters through them gives an airy feeling to the space. They also make a small space seem bigger. You can even get a clear desk, chair, storage furniture and shelving if you really want to make everything in your space clear.

10. Digital Wins. I read a lot of books, magazines and newspapers not only because I love to read, but because I also edit and review books for publishing companies and write on a wide variety of topics that require me to read massive amounts of content every day. I have a handful of books and periodicals in paper form -- these are ones that really resemble workbooks of some kind that are easier to use in paper form. Everything else is digital on my Kindle and through a set of mobile apps on my iPad. After a few days, my eyes were feeling the fatigue of that bright screen so I adjusted the settings on iPad to have my screen be black with white type. This helped tremendously and now my eyes aren't any more fatigued than when I read in paper form.

And all those books? I donated them to my local library so that they could be enjoyed by my community.

How do you keep your space tidy and organized? Add your thoughts in the comments section below.

 

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Every Type of Check Fraud You Have to Worry About

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Writing a check to pay the bills with calculator and pen on desktop
Alamy
By Ashley Eneriz

About a decade ago, the most common money transactions were done with cash or checks from a checking account. In fact, checkbooks were so common that fashion trends actually involved them, from designer checks to checkbook covers. Now, checkbooks are the VHS to Blu-Rays. They are still used, but not as frequently. And because of check fraud, that is a very good thing.

Types of Check Fraud

The danger of personal checks is that one single check can contain your whole financial story: name, address, bank name, checking account routing number and account number. With this information, anyone can take over your account or purchase items with your money.

As Frank Abagnale, the infamous check forger who inspired the film "Catch Me If You Can," explained to U.S. News: "If I write a check at Walgreens (WBA) or CVS (CVS), I'm leaving that check behind with the clerk. And on that check is my name, address, phone number, my bank's name and address, my bank account number, routing number, and my signature. And if that store clerk writes down my driver's license on the front of the check, in nine states -- including the one I live in -- that's my Social Security number, too. Then, next to it he writes my date of birth. ... Anyone who sees the front of that check has more than enough information to draft on my bank account." Here's how frauds could materialize:
  • Online spending. Many websites allow for the purchasing of items with your bank's name, routing number, account number and billing address. Many sites do not verify the true identity behind these accounts.
  • Account takeover. Account takeover happens when a thief gets hold of your financial information, changes the mailing address and wipes your bank account clean before you even realize a cent is missing.
  • Check washing. Check washing means referring to removing the ink from the checks, allowing the thief to write in her own amount. If you do not have the means to prove that you never wrote the stolen check, then you could be out of luck and out of money.
Checks Can Make You a Danger to Yourself

Carrying checks also poses a danger to your own finances. Since checks can be used to pay for items at the time they're written, you do not necessarily need to have the money in your account at that time.
Known as "paperhanging," writing a check when you know you don't have the money -- and hoping to have a bigger balance by the time the check finally clears -- is also a type of fraud and can lead to bounced checks, bank overdraft fees and other charges.

How to Protect Yourself From Check Fraud

The best way to protect yourself from the dangers personal checks pose is to stop using. Learn how to pay bills online through your bank account, which is more safe and secure than sending a check, a lot less time consuming and saves on postage costs. I even pay my tithing to my church online; I just enter in my church's information and address, and my bank sends them a check every time I pay.

If you insist on writing a check, do so to only secure and trustworthy individuals and companies. Mail them in a secure manner or hand-deliver them. Also, be sure to use a gel pen or to have your check printed to avoid possible check washing practices. Uni-Ball pens are designed to bleed into paper so that the ink cannot be washed away by chemicals.

 

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Why Won't This Man Retire?

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­
Lorne Chasenz
My father, Fred Kaplan, flunked retirement in five days.

After working for 60 years as a diamond dealer in Manhattan's jewelry district, my then-84-year-old father packed up his loupe and 20-years-younger wife and reluctantly retired to Florida.

"It's time," Dad said about leaving the business he started after mustering out from the Army at the end of World War II. "I can't work forever."

Dad, who never lived more than 30 miles from his childhood home in Brooklyn, called Florida retirees "the living dead." But after surviving a triple bypass 10 years earlier, the New York winters were finally getting to him, and trudging through snow to his 47th Street store was becoming "tricky." So Dad reluctantly called it quits and moved to a country club development in Palm Beach Gardens.

After Tennis, Then What?

A week later, I called to see how he was loving leisure.

"Well, I'll tell ya," he said. "I got up this morning and had a lovely breakfast, read the paper, played an hour of tennis, and took a nice, long shower. Then it was 10:15."

Dad, who had worked nine hours a day, six days a week for most of his adult life, was "bored to death."

"There's nothing to fill the days," he said. "I'm flunking retirement."

Back in Business

Dad lives for the deal, the thrill of buying a three-carat something, maybe re-cutting it to remove black spots and yielding a handsome profit. But hawking diamonds on 47th Street is more about psychology than geology. Dad understood his customers, who, like himself, were mostly the newly rich from suburban Long Island or Westchester County. I once watched him sell $62,000 worth of jewels to a Great Neck father-of-the-bride by appealing to the poor schnook's desire to impress 400 guests.

Lorne Chasenz
So after two weeks avoiding the Florida sun, Dad was starved for action. He rented an office on Palm Beach's tony Worth Avenue, took out a "We buy diamonds!" newspaper ad and charged back into the game. Turns out, he knows more about diamonds than anyone on the billionaires' block. So when jewelers can't fathom the true worth of a stone, they call him.

Dad now calls himself "semi-retired." At 88, he works about five hours a day, longer if some Palm Beach doyen has a lifetime of jewels to sell. In January, he manned a booth at a Miami jewelry show.

"I overdid it," he said sheepishly from bed, where he was sidelined exhausted for two days after the show. "But, hey. I can't die young."

 

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10 Surprising Ways Social Media Can Help You Save Money

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CPHMD0 Man scanning bottle in supermarket via his cell phone  Man|scanning|bottle|supermarket|via|cell|phone; store|supermarket|
Alamy
You can do a lot with social media. You can connect with friends and family, stay on top of the news, share information -- and you can save a decent chunk of change, if you know where to look.

That's right -- your Facebook (FB) and Twitter (TWTR) accounts are more than just fun distractions. Here are 10 ways to use social media to save money -- without wasting a ton of time.

1. Follow Companies You Like

You may think you've got the inside scoop on your favorite companies' discounts and promos because you're signed up for their email list, but you could be missing out. Be sure to also "like" them on Facebook and follow them on Twitter to learn about flash deals, special coupons and giveaways they won't announce anywhere else.

2. Streamline Your Stream

Following every grocery store, retail chain and clothing store you like can clog up your social media stream, making you feel like your social media accounts are cluttered and overwhelming. Keep your social streams organized by signing up for a social media management dashboard like HootSuite. It will allow you to view all of your platforms at once in separate tabs, rather than logging in and out of multiple sites each day. This is also a huge time-saver, and as we know, time is money.

3. Use Twitter Lists

You can also consolidate your Twitter stream by creating separate lists for different companies you follow (i.e., one list for department stores, one for travel sites, etc.). This way, you can keep these updates out of your general stream and only check them out when you need something in that particular category. If you're about to book a flight, for example, you can check your list of travel websites. The rest of the time, you can safely ignore these updates.

4. Follow Hashtags

Create additional Twitter lists for hashtags like #coupon, #frugal and #giveaway to discover new deals you wouldn't have found on your current lists. There's no need to laboriously read every tweet that comes up; just do a quick glance-through while you're online and see if anything particularly interesting pops out at you.

5. Let Others Do the Work for You

If you'd rather not spend the time scanning your own feeds, look for companies and bloggers that do the work for you. Twitter accounts like @Coupons and @DealsPlus and bloggers like @KrazyCouponLady and @MoneySavingMom curate and aggregate deals from around the Web so you don't have to track numerous sites yourself.

6. Get Frugal Ideas From Pinterest ...

Pinterest is a great way to get new ideas on ways to save money. From cheap and easy ways to keep kids entertained to DIY home decorating projects, if there's a way to save on something in your life, you'll likely find it (with pictorial instructions) on Pinterest.

7. ... But Don't Fall Down the Rabbit Hole

To use Pinterest effectively, however, you need to be strategic. You can waste hours on the site if you're not careful, so make sure to follow only a handful of respected and recognized Pinners who regularly update their boards -- and only follow the specific boards you're interested in. You may love @FabFrugal's freezer meal recipes and shopping tips, for instance, but you don't need to get a notification every time they update one of their 108 other boards.

8. Follow Daily Deals Sites

Follow daily deal sites like Groupon (GRPN) and Amazon (AMZN) Deals on Twitter or Facebook, or through their apps, rather than letting their daily (and sometimes more-than-daily) emails clutter up your inbox. You'll be able to see all their offerings at a glance in that handy dashboard you set up earlier, instead of having to slog through a dozen email messages each day.

9. Find Freebies

Just like daily deal sites and coupon aggregators, there are plenty of freebie database sites with an active social media presence. Check out @HeyItsFree, @freestuffcom, and @Freebies4Mom to get started for the latest lowdown on fun freebies you can snag.

10. Connect With Customer Service

Hate waiting on hold with customer service forever, only to be transferred to a dozen different departments and never really have your problem solved? Then take your issue directly to Twitter; companies are often eager to respond to public complaints on that platform and tweeting at the company's handle could wind up getting you quicker-and better service.

Paula Pant traveled to 32 countries, runs a popular finance blog and is a successful real estate investor. Her blog, Afford Anything, shows you how to live your boldest, brashest dreams -- whether that's travel, adventure, launching a business, or enjoying a debt-free life.

 

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Drugmaker Reboots Bid to Market 'Female Viagra'

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Female Sex Pill FDA
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By MATTHEW PERRONE

WASHINGTON -- The makers of a twice-rejected pill designed to boost female libido are resubmitting their drug to federal health regulators, following a recent lobbying blitz by politicians, women's groups and consumer advocates aimed at pushing it onto the market.

Sprout Pharmaceuticals said Tuesday it is refiling its application for the drug, flibanserin, adding new information requested by the Food and Drug Administration about how the pill affects driving ability. FDA scientists requested that data after their most recent rejection of the drug, in part, due to results showing nearly 10 percent of women in company trials reported sleepiness as a side effect. The company studied women's driving ability the morning after taking flibanserin compared with women taking placebo and a common sleeping pill.

If approved, Sprout's daily pill would be the first drug for women who report a lack of sexual desire, a market that drugmakers have been trying to tap since the blockbuster success of Viagra for men in the late 1990s. But the drug has already faced a long, winding review at the FDA because of lackluster effectiveness and side effects including fatigue, dizziness and nausea.

In an effort to break the regulatory logjam, groups sponsored by Sprout and other drugmakers have begun publicizing the lack of a "female Viagra" as a women's rights issue.

"Women deserve equal treatment when it comes to sex," states an online petition to the FDA organized by one such group, Even the Score, which garnered almost 25,000 supporters. The group's corporate backers include Sprout Pharmaceuticals, Palatin Technologies (PTN) and Trimel Pharmaceuticals -- all companies developing drugs to treat female sexual disorders. A spokeswoman for Blue Engine Media, the public relations group for Even the Score, declined to disclose how much of the group's funding comes from companies. The group's nonprofit supporters include the Women's Health Foundation, the Institute for Sexual Medicines and other organizations.

The FDA first rejected flibanserin in 2010 after a panel of expert advisers unanimously voted against the drug, saying its benefits did not outweigh its risks. The drug's initial developer, Boehringer Ingelheim, abandoned work on the drug in 2011 and sold it to Sprout, a startup headed by a husband-and-wife team from Raleigh, North Carolina.

Sprout resubmitted the drug with additional effectiveness and safety data, but the FDA again rejected the drug in October 2013. After Sprout filed a formal dispute over the decision, FDA regulators requested the driving study and other details on the drug's interactions with other medications.

There are 24 approved medical treatments for male sexual dysfunction and not one single treatment yet approved for the most common form of female sexual dysfunction.

As Sprout gathered that data, the company also enlisted support from influential allies in Washington and beyond. Last January four members of Congress, including Rep. Debbie Wasserman Schultz, D-Florida, sent a letter to the FDA, urging a careful reassessment of the drug and lamenting the lack of drug options for low female libido.

"There are 24 approved medical treatments for male sexual dysfunction and not one single treatment yet approved for the most common form of female sexual dysfunction," states the letter, which was also signed by Rep. Louise Slaughter, D-New York, and two other Democratic congresswomen.

The talking point about the imbalance of drugs for men versus women was picked up by a coalition of seven women's and consumer health groups who met with the FDA early last year.

"We see this not only as an important unmet women's health issue, but an inflection point for the agency to ensure that similar standards are applied for drug approvals in conditions uniquely affecting women," states a follow-up letter to the agency from leaders of the National Organization for Women, the National Consumers League and four other groups.

Then last October the FDA held a two-day meeting at its headquarters to get public input on the problem of female sexual dysfunction and the challenge of developing treatments.

If approved, flibanserin would be labeled for premenopausal women with hypoactive sexual desire disorder, described as a lack of sexual appetite that causes emotional distress. Because so many factors affect female sexual appetite, there are a number of other possible causes doctors must rule out before diagnosing the condition, including relationship problems, hormone disorders, depression and mood issues caused by other drugs like sleeping aids and pain medications.

Sprout and other drugmakers frequently cite a 1999 survey in the Journal of the American Medical Association that found 43 percent of U.S. women had some type of sexual dysfunction.

While earlier female libido drugs worked on hormone levels, flibanserin is the first attempt to increase sexual desire by acting on brain chemicals linked to appetite and mood.

 

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Why the Next Social Security Crisis Could Be Just a Year Away

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Most Americans know that the Social Security system faces some long-term financial troubles, as a rising population of retirees relies on ever-fewer workers paying the taxes that finance their benefits. Yet most people focus on the retirement portion of Social Security, which has enough money remaining in its trust fund to cover shortfalls between tax revenue received and monthly benefits paid until 2033.

But there's an aspect of Social Security that many people rarely think about, and it faces much more immediate problems. Social Security also makes payments to disabled workers and their families, who together make up about 11 million recipients. The bad news is that the trust fund that finances disability benefits could run out of money by the end of 2016, according to the most recent Social Security Trustees' Report -- giving lawmakers a lot less time to come up with a solution to the problem.

What's In Store for Social Security Disability

Recently, the Senior Citizens League looked at the problem of Social Security disability and what the current financial difficulties would mean for recipients. Because the portion of payroll taxes that goes toward funding disability payments only covers about four-fifths of what Social Security disability pays out, the program has had to use the trust fund set aside for covering disability shortfalls. Analysts estimate that when that trust fund runs out of money late next year, disability recipients will face a 19 percent cut in their monthly benefits.

The impact on disabled Americans could be catastrophic. Currently, the average disability benefit of $1,146 per month is enough to keep disabled Americans above the poverty line, according to a research report from the Heritage Foundation. But with a 19 percent reduction, the average benefit would fall more than $200, taking it below the poverty line.

Raising the stakes is the fact that Congress has taken steps to avoid what would otherwise be an easy way to put off dealing with the problem. With the trust fund that provides money for retirement benefits still having plenty of money, the simple fix is to authorize a transfer of available funds from the retirement fund to the disability fund. Because the disability fund's spending needs are smaller than the retirement fund's, allowing such a transfer would give disability recipients full benefits for 15 to 20 years while costing the retirement fund only a few years' worth of solvency.

In an effort to require lawmakers to consider a longer-term solution to the bigger problem of Social Security generally, though, the House of Representatives passed a procedural rule that requires trust-fund transfers to be part of a larger Social Security reform plan that makes changes either to the taxes Social Security collects or the benefits it pays. Groups like the Senior Citizens League are skeptical that lawmakers will be able to come up with a broad-ranging reform package, especially given the fact that they have known about the coming crisis for years but haven't taken much action to date.

Are Social Security's Problems Solvable?

The debate over Social Security stems from disagreements about the true purpose of the program. Some believe that Social Security should remain a safety net only for a limited number of Americans, noting the fact that when the government first created the program, fewer people had a long enough life expectancy to collect benefits, and those who did generally collected them for a shorter period of time.

Meanwhile, others note that Social Security has had to assume a role that corporate pensions used to fill, as employers have generally moved to 401(k) plans and other defined-contribution retirement plans that put the onus on workers to figure out how to invest their money well enough to provide needed income in retirement. Those who favor expansion of Social Security point to dramatic moves like lifting the current wage cap on Social Security taxes, which would dramatically boost the amount of tax that high-income earners pay into the system. On the other side of the coin, measures like means-testing Social Security could take benefits away from those who don't absolutely need them. Yet as you'd expect, all of these proposals are controversial.

For now, though, lawmakers have less than two years to figure out how they want to handle the immediate problem of Social Security's disability crisis. Without action, Americans will get to see firsthand what happens when a trust fund runs out of money, potentially giving everyone a look at what could happen within the next 20 years to retirement benefits for tens of millions of Americans.

Motley Fool contributor Dan Caplinger hopes he gets Social Security but is making contingency plans just in case. You can follow him on Twitter @DanCaplinger or on Google+. To read about our favorite high-yielding dividend stocks for any investor, check out our free report.​

 

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Sales of SUVs, Light Trucks Soar on Low Gas Prices

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Marc-Andre Gauthier/Autoblog Quebec
As gas prices have plummeted over the past six months, sales of SUVs and light trucks have soared. That's certainly not a coincidence, but does it mean that buyers of these vehicles are making a mistake because prices at the pump are likely to rise again? Not really, according to auto industry experts.

"Most of the newer SUVs are not the gas guzzlers that people used to think of," said Jessica Caldwell, senior analyst at the car shopping website Edmunds.com. "In fact, some are quite fuel efficient."

Still, it's not a surprise that there is a correlation between the price of gasoline and the rise in SUV sales. Over the last four months, Edmunds says SUVs and light trucks have captured 54 percent to 55 percent of the new car market. That's up from about 51 percent in the first four months of 2014, when gas prices were more than a dollar a gallon higher than they are right now.

Caldwell says that many buyers of crossover SUVs may have bought midsize sedans in the past, so the move into the SUV market is not a big step up in price. Many popular crossover models sell for $25,000 to $30,000 -- about the same as those midsize sedans they have been driving, and their mileage per gallon ratings are not that much worse.

Lower Interest Rates, Longer Loans

Edmunds also notes that economic conditions benefit shoppers. The average interest rate on loans for new cars was a relatively low 4.5 percent last month, and the average loan was for a record high 67.2 months. Edmunds says that combination means buyers are able to "get more car" for about the same monthly payment as they had made in the past.

"I would say most folks are making rational decisions," said Alec Gutierrez, senior analyst for Kelley Blue Book's KBB.com. "Purchases are not solely being made on where gas prices are today. When gas prices do jump back up, I don't think it will impact these buyers in a serious way." He says there are some people making decisions based on the "wrong math," but that's not the major factor driving sales. In fact, KBB.com says the average SUV sold today is 26 percent more fuel efficient than a comparable one sold back in 2007.

"Some people may be lured to something larger because they are saving on gas right now," said Caldwell, "but buyers should make their decision based on affordability," whether than can afford to drive that new vehicle at $2 a gallon or $5 a gallon. She says you're likely to drive a new car for the next 5-to-10 years, and we're likely to see a fluctuation in the price of gas over that time.

Hot Crossovers

Among the hot selling SUV crossovers are the Honda (HMC) CR-V, Toyota (TM) Highlander, Toyota RAV4, Ford (F) Escape, Buick (GM) Encore, Subaru Outback, Subaru Forester, Mazda CX-5, Jeep Cherokee (FCAU) and Hyundai Santa Fe.

"In general, the quality is pretty good," according to Caldwell. "It's a good compromise. Fuel efficiency is good, the seat is higher. It check off a lot of boxes for consumers."

Gutierrez notes that midsize and larger SUVs have also rebounded as gas prices declined, with some models posting double digit sales gains from a year ago. He points out that two market leaders, the Chevy Tahoe and the Chevy Suburban, also benefited from redesigns last year.

"While gas prices are certainly an influence," says Gutierrez, "there are also new models, great incentives, and the new home market is doing very well, which gives a boost to truck sales." He expects the SUV/light truck market to grow at nearly double the overall rate for new vehicles this year, even if gas prices go back up a little bit.

Prices for used SUVs and light trucks are are pretty high because demand exceeds supply right now. That's partly because sales of SUVs plummeted during the recession years of 2008 through 2010, so there are not enough 5- and 6-year-old models being traded in right now.

 

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6 Easy Steps to Get Started With Investing

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Investing can be intimidating to start, but it something that many of us hear we "need" to do. There are a lot of fears and reservations about putting our money to work for us, but ultimately it comes down to having an education around the process and how to get started. Here's where to begin:

1. Automate Contributions

Automating contributions creates the habit of saving and investing, at least on a monthly basis, which will allow you to build your wealth at a much faster rate.

If you're contributing to an employer-sponsored retirement plan, you should be able to specify how much you want taken out of your paycheck to put toward retirement.

If you opened a retirement account on your own or have a brokerage account, then you can set up recurring transfers from your bank account to your retirement or brokerage account.

2. Start Small

Stop letting "not having enough money" hold you back from investing. Even if you have $5 left over at the end of the month, invest it. Again, it's all about building that habit.

Additionally, compound growth is powerful, and even contributing $20 a week will get you closer to your goals. Something, however small, is always better than nothing.

3. Go for Dollar Cost Averaging

If your No. 1 concern is how volatile the stock market is, then dollar cost averaging might help. This is the practice of investing the same, pre-set amount of money each month or quarter and buying into mutual funds, exchange-traded funds, stocks, etc. over time.

For example: one month, shares of an ETF could be $25. The next, they could be $30, and the following month, they could be $20. By investing say, $100 each month, you'd purchase four 3.33 and five shares of the fund. This allows you to roll with market fluctuations and not have to worry about "market timing."

This also lessens your risk in the market by allowing you to spread out your investments instead of investing a lump sum into one security and having it tank shortly after.

4. Make Investing a Priority

Saving up to invest becomes easier once you consciously make it a priority. If you're working toward financial independence or wanting a cushy retirement at 60, it's not going to happen on its own. You need to commit.

How can you make investing a priority? Realize that whenever you spend your money on something else, you're technically robbing your future self of those funds.

So if you decide that spending $10,000 on a car is absolutely necessary (and it could be), then know that you're sacrificing that $10,000 in the future, plus any growth your funds might have experienced.

5. Take Action

One of the best things you can do is figure out what your plan of attack is going to be. How are you going to invest?

Don't worry -- this isn't a particularly hard question to answer, and it shouldn't stop you from investing.

You just need to figure out what options you have available to you, and if they align with your goals.

If you have access to a workplace retirement plan such as a 401(k) or 403b, then start there. It's even better if your employer offers to match your contributions. Try to contribute up to that match.

If you don't have access to an employer-sponsored plan or if you max your contributions out, then look into opening a Roth individual retirement account. You can contribute up to $5,500 in this account annually.

If you've exhausted both of those options, you can open a regular brokerage account consisting of mutual funds and ETFs.

And remember, if you're investing for the long term, a buy and hold mentality will help.

6. Continue Educating Yourself

One of the most important things you can do is to keep learning about what you're doing. By investing in your financial education, you're investing in yourself, and that will pay off for you in the future.

You could end up being more motivated to invest than ever after realizing how easy the process is. Reading books and blogs on investment strategies will give you a better chance at success when building wealth.

Seek to understand exactly what you're investing in and why, even if you have someone else managing your accounts. That knowledge is invaluable.

Mary Beth Storjohann is a certified financial planner and money coach. She created Nine Steps to Workable Wealth to help you make smart choices with your money.

 

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Fine Fashion That's Designed and Made in America

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Dress form in the office of fashion designer Rachel Roy on Sep. 1, 2011 in New York. (Bobby Doherty, AOL)
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The 2015 Mercedes-Benz Fashion Week, now under way in New York, brings attention to the best in American fashion -- and some it designed and made in the U.S.

That the United States imported $80 billion of clothing in the 12 months leading up to February 2014, the Office of Textiles and Apparel reports, and it exported $5.8 billion in clothing at the same time. But there are signs of more production in America.

Manhattan's famous Fashion District just released news that New York City is tripling its investment into Made in New York fashion. Across the country, the movement for locally hand-manufactured fashion -- or "slow fashion" -- has caught on since its inception in 2007. These designers and brands are just a few notable names growing American production and manufacturing.

Joseph Abboud

New Bedford, Massachusetts, is the starting point for all of Abboud's suits. He was born in Massachusetts to a blue collar Catholic Lebanese family that inspired him to work since he was 16. In 1986, his namesake brand launched, and he has since partnered with major chains like J.C. Penney (JCP), Macy's (M) and Lord & Taylor. Since then, the brand has evolved to champion the slow fashion movement.

Abboud takes pride in being "the only remaining American designer with a significant U.S. manufacturing operation whose heritage is genuinely made in America." In 2013, his line was named as the official wardrobe supplier to the National Basketball Coaches Association -- a huge deal for rabid sports fan Abboud.

Nanette Lepore

A champion of American manufacturing, Nanette Lepore says 85 percent of its young, feminine inspired designs come from American production. The brand cites the lack of U.S. knitting mills and heavy costs to embellish and bead certain clothing as the reason it is not entirely manufactured stateside. Though the line has grown since its founding in 1992, the brand is proud to maintain relationships with its earliest East Village partners.

Lepore credits her desire to manufacture locally to the early years when she and husband Bob Savage started working in New York. "After weeks of shuttling [fabric] back and forth, we realized how vital it was for our work space to be close to our factories." Soon after, they had an office space in the Fashion District with a small team of employees. Since then, the brand has expanded to eight floors of the building, while employing many more.

Oscar de la Renta

Oscar de la Renta's namesake line has been an influential figure in women's fashion since its founding in 1966. Although some of the apparel is made in Italy, the line has held on to American manufacturing as well -- including a lengthy reign for de la Renta himself as the president of the Council of Fashion Designers of America. Most of the line's products have a clear "Made in USA" for shoppers looking to shop domestically. An intersection in the Bronx will be named in honor of the designer, who died last year. He "brought such joy in all he did," New York Mayor Bill de Blasio said. "He will be forever ingrained in the fabric of this city."

Nicole Miller

Nicole Miller has been a sign of the American waning and reemerging fashion industry. In the 1970s, the then-P.J. Walsh brand became one of the first lines to move production to Hong Kong. In 1982, the brand had a change of heart to maintain a better quality control. "It wasn't patriotism," explains CEO Bud Konheim, who was with the company during production moves. "It was just good business sense. Production became very efficient here, and we ended up with a better net profit." Today, 80 percent of Nicole Miller's line comes from New York City. As with Oscar de la Renta, the high-end women's line also clearly states the origins of each product.

Jason Wu

First Lady Michelle Obama helped propel Jason Wu, as she has done for fellow emerging designers, when she chose Wu's gowns for both inaugural balls. Wu, 32, now sells his creations in more than 170 retailers. Wu has created items since 2007, with 90 percent of manufactured in New York's fashion district. His handbags and shoes are crafted in Italy.

 

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1-800-Flowers and the Valentine's Day Social Media Massacre

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1-800-Flowers Botches Valentine's Day Deliveries

Every couple knows the story: One of them screws up big time and now owes an apology -- often punctuated by candy or flowers. Good thing for 1-800-Flowers that it's in the business of sending such products. Between reports of missed deliveries, wilted flowers and melted chocolates on Valentine's Day, the company is in the dog house for the foreseeable future.

1-800-Flowers (FLWS) apparently had a lot of problems getting deliveries right on Valentine's Day, according to BuzzFeed. Between deliveries that allegedly showed up late or not at all, wilted and otherwise damaged flowers, melted chocolates, and wrong orders, people were voicing their displeasure on Twitter and Facebook, keeping customer service people busy and competitors delighted. Here are just some of the examples: Not that any of this should be a complete surprise. According to CNN Money, the company had problems last Valentine's Day as well, both in deliveries and in handling the problems after the fact.

There were happy customers out there as well.
And 1-800-Flowers did try to answer complaints online and, as CNN Money reported, some customers were promised a refund and a discount coupon for the future. But even in making good the company did badly in some cases. However, some people were delighted with all the problems:

 

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Repair It or Replace It: Appliances -- Savings Experiment

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Repair It or Replace It: Appliances
When a major appliance breaks down, we're all faced with the same dilemma: Do you pay to have it repaired, or do you just buy a new one and replace it? Here are a few guidelines to help you make the right choice for your budget.

To start, always check the manufacturer's warranty before you do anything. This may seem obvious, but it's commonly overlooked. Read through the terms and conditions of your warranty in the owner's manual. If you don't have one, you can usually find the document online by searching under the make and model of your product. Most appliances should be covered between one and two years, but some of the more critical parts can sometimes be covered much longer, so it's definitely worth a look.

The next thing to do is make a call to the manufacturer's service department. Sometimes, the technician can help you troubleshoot the problem for free over the phone. If an in-home service call is needed, always remember to focus on how much the total appliance repair is going to cost you, not the service call price.

Some companies try to entice you with a low service call rate, only to overcharge when it comes to repair costs. Whenever possible, try to go with a business that will waive the service call cost if you choose to have them repair your item.

Still unsure of whether you should repair or replace? One last thing to consider is The 50 Percent Rule. If the cost of your repairs are going to be over 50 percent of the cost of buying a new product, don't do the repairs, especially if your item is more than 50 percent through its lifespan.

Dishwashers, microwaves, washers and air conditioners should last you about 9-10 years. Gas and electric ranges, refrigerators and dryers can last up to 13-15 years. So, if your appliance is already past the halfway point, replacing it might be the best way to save.

A broken appliance can be frustrating, but it doesn't always have to cost you an arm and a leg. Follow these guidelines to keep your household running without short-circuiting your budget!

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Pull Over, Ferrari: Lego's Passing You on the Left

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Warner Bros./AP"The Lego Movie" boosted the value of the toymaker's brand.
Legos have apparently assembled themselves into a vehicle and just whipped by Italian car company Ferrari, according to an annual report by consultancy BrandFinance on the world's most powerful and valuable brands.

According to BrandFinance, only a dozen brands got into its top ratings category. Some of the others include accounting firm PwC, Red Bull, Unilever (UN), management consulting firm McKinsey, clothing name Burberry (BURBY), Rolex watches, L'Oreal, Coca-Cola (KO), Nike (NKE) and Walt Disney (DIS).

Brand strength or power is based on goodwill of customers, staff, investors and others; investment in marketing; and the impact those factors have on business performance. Structured similar to a credit rating, AAA+ is the highest rank available.

Hit Movie Helped

Lego had a hot year in 2014. Not only does it appeal to adults as well as to both boys and girls, but "The Lego Movie" helped cement international attention. Amateurs make their own stop-action movies using the building blocks. The company passed on renewing an arrangement with Shell (RDS-A) after the arrangement brought substantial and biting criticism. Add partnerships with the likes of "Star Wars" and expansion of the brand into video games, and you have a name with power.

Ferrari, while still maintaining top brand value, slipped in the rankings from its No. 1 position last year. According to the report, a number of factors caused the change. The company's racing team has "struggled to mount a challenge" in Formula 1 racing.

Another view of brands is their estimated financial value. In that ranking, Apple (AAPL) continues its No. 1 spot at $128 billion, up 23 percent from its previous $105 billion. The power of Apple's name dwarfs that of the $82 billion that No. 2 Samsung, enjoys. Tech has a strong hold in this category, representing nine of the top 10 companies, including Google (GOOG), Microsoft (MSFT), Verizon (VZ), AT&T (T), Amazon (AMZN), General Electric (GE) and China Mobile. The only company not primarily in the tech space is Walmart (WMT), which could conceivably drop out of the top 10 next year, after being at the top in the past.

BrandFinance also considered up-and-comers, whose brand value grew the most. Twitter (TWTR) led that group at 185 percent growth. Following it were the likes of Baidu (BIDU) (161 percent), Facebook (FB) (146 percent), Chipotle Mexican Grill (CMG) (124 percent), Humana (HUM) (99 percent), Priceline.com (PCLN) (97 percent) and Alibaba (BABA) (90 percent).

 

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Market Wrap: S&P 500 Ends at Record High on Greece Hopes

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Seth Wenig/AP
By Caroline Valetkevitch

NEW YORK -- The S&P 500 ended above 2,100 at another record high Tuesday as optimism grew that a debt deal would be reached with Greece and as bond prices sold off.

In a possible sign of progress for Greece, a source told Reuters the country intends to ask for an extension of a loan agreement Wednesday. The report follows a collapse of deal negotiations on Monday, which led to European Union finance ministers pressuring the country to remain in an international financial rescue program.

Late in the session, though, broadcaster ZDF reported the German finance minister said an extension was not up for debate.

Because bonds are so low globally, it creates an interest in equities that perhaps the risk is worth taking to get the higher return.

U.S. Treasury debt prices sold off, pushing benchmark 10-year note yields to seven-week peaks, on expectations the Federal Reserve could bump up rates as early as June. Minutes from the last Fed meeting are due Wednesday.

"We've seen more of a risk-on trade," said Bucky Hellwig, senior vice president at BB&T Wealth Management in Birmingham, Alabama. "Because bonds are so low globally, it creates an interest in equities that perhaps the risk is worth taking to get the higher return."

Among the S&P 500's biggest positives, shares of Medical device maker Medtronic Plc, which last month completed the $49.9 billion purchase of Ireland-based Covidien Plc, rose 3.7 percent at $78.07. Medtronic reported a better-than-expected third-quarter profit, driven by solid growth in its cardiac and vascular business.

The Dow Jones industrial average (^DJI) rose 28.23 points, or 0.16 percent, to 18,047.58, the Standard & Poor's 500 index (^GSPC) gained 3.35 points, or 0.16 percent, to 2,100.34, a record high. The Nasdaq composite (^IXIC) added 5.43 points, or 0.11 percent, to 4,899.27.

Market Movers

U.S.-listed shares of the National Bank of Greece ended up 1.2 percent at $1.63 after falling more than 13 percent earlier in the session.

Shares of Transocean (RIG) recovered to close flat $19.05 a day after the company slashed its dividend and said its chief executive stepped down.

Among decliners, Celsus Therapeutics plummeted 81.4 percent to $1.15 after the company's lead drug failed a mid-stage study. VBL Therapeutics dropped 65.5 percent to $4.87 after it said it would stop developing its experimental inflammatory drug to fight ulcerative colitis and psoriasis.

A fragile Ukraine truce added uncertainty to the market. In eastern Ukraine, Pro-Russian rebels fought their way into an encircled government bastion and were battling street-to-street, all but dashing hopes that a European-brokered peace deal would end months of conflict.

About 6.2 billion shares changed hands on U.S. exchanges, below the 6.7 billion average for the last five sessions, according to BATS Global Markets.

NYSE decliners outnumbered advancers 1,776 to 1,337, for a 1.33-to-1 ratio; on the Nasdaq, 1,533 issues rose and 1,199 fell, a 1.28-to-1 ratio favoring advancers.

The S&P 500 posted 64 new 52-week highs and 2 new lows; the Nasdaq composite recorded 115 new highs and 22 new lows.

What to watch Wednesday:
  • At 8:30 a.m. Eastern time, the Labor Department releases the Producer Price Index for January, and the Commerce Department releases housing starts for January.
  • The Federal Reserve releases industrial production for January at 9:15 a.m.
  • The Federal Reserve releases minutes from January interest-rate meeting at 2 p.m.
Earnings Calendar
These selected companies are due to release quarterly financial results:
  • Actavis (ACT)
  • Avis Budget Group (CAR)
  • Cinemark Holdings (CNK)
  • Duke Energy (DUK)
  • Fidelity National Financial (FNF)
  • Garmin (GRMN)
  • Hilton Worldwide (HLT)
  • Hyatt Hotels (H)
  • Marathon Oil Corporation (MRO)
  • Marriott International (MAR)
  • Questar (STR)
  • Sabre (SABR)
  • SolarCity (SCTY)
  • Williams Cos. (WMB)

 

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10 Budget Purchases That Look Expensive

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IKEA To Raise Minimum Wage At US Stores By An Average Of 17 Percent
Justin Sullivan/Getty Images
By Paul Michael

I've written about expensive purchases that looked cheap, but what about the opposite -- cheap purchases that look much more expensive than they actually are?

This is what the essence of Wise Bread (and frugality) is all about: making smart purchases that are good for your wallet, image and reputation. Whether it's a purchase for a special occasion, such as a birthday or anniversary, or simply sprucing up your home or wardrobe, these 10 products will shine -- without eating a hole in your savings account.

1. Pearl jewelry. Unlike diamonds, which are controlled by a cartel, pearls are relatively affordable. The ability to grow real pearls on oyster farms gives the jewelry business a resource for inexpensive, but genuine, cultured pearls. It's no longer a game of hit and miss for divers, who once trawled the oceans in the hopes of finding an oyster with a pearl. You can find beautiful cultured pearl necklaces and earrings for as little as $10. They will have the luster and weight of natural pearl jewelry that costs thousands -- and only a real expert can tell the difference.

2. Most products from Ikea. Let's face it, Ikea is insanely popular for a reason. One look through the Ikea catalog and you'll see an awful lot of great design at a price that even Walmart (WMT) would find hard to beat. Designers from around the world have put forward stunning products and furniture for a fraction of the price they would usually charge, including Matali Crasset and Scholten & Baijings.

3. Invicta watches. The name Invicta conjures up images of expensive timepieces and wads of cash, but that's not actually the case. While you can find Invicta watches that cost over $1,400, you can also buy models for around $50 to $100. They're heavy, well-made (usually in the USA), and water resistant to hundreds of feet. You get a fantastic presentation case, too. This Invicta watch at Amazon.com (AMZN) looks like it could set you back a grand, but it's only $70. Invicta watches make great gifts, and can often be found on discount sites at massively reduced prices.

4. H&M clothing and accessories. When you look at what H&M has on offer, you might think it's high fashion. But the great thing about H&M is that you get incredible style for a steal. It's not unusual to walk into H&M with $100 and come out with five or six items of clothing, including shirts, jeans, sweaters, and even jackets. Take a look at the current H&M sale and give yourself a little test. Put the things you really find stylish and attractive in your cart without looking at the prices. Then, guess how much you've spent. The chances are, you'll be way over -- probably by three to four times more the actual cost.

5. Leather goods. There's something about leather -- maybe it's the smell, or the fact that so many shoes and jackets are made from faux leather. However, real leather can be as affordable as the fake stuff, and on occasion, even cheaper. What you have to do is shop selectively, and shop when the sales are at their peak. Right now, retailers such as Wilsons Leather are dumping their winter stock, and you can find leather jackets for 75 percent off. Stroll into work wearing a $500 jacket -- no one has to know it only cost you $125.

6. Muji products. When products get really expensive, you have to search high and low for the brand name. It's one of those "people who know, will know" deals. Now imagine products that have that sense of style and simplicity, but don't come with the ludicrous price tags. That's what it's like to shop at Muji. From clothing, clocks, and furniture, to bags, storage items, and electronics, Muji is sophisticated style on a modest budget. Not everything at Muji is really cheap either, which means it's really hard to know what your Muji item cost. Maybe it was a few bucks, maybe a few hundred.

7. Scratch-and-dent appliances. We live in a society obsessed with getting everything brand spanking new and absolutely perfect. The very idea that someone would sell you a stainless steel fridge with a scratch or dent in it appalls some people. If you're smart, you'll take advantage of that. Scratch-and-dent (aka "dent and ding") appliances are perfectly functional, and have just a few superficial flaws. Perhaps it was on a showroom floor and got a tiny scratch, or a dent in the bottom of the door from a careless delivery. These tiny flaws, however, come with massive savings. If you don't mind a few dings, you can take hundreds, or even thousands, of dollars off the price of a brand new, name brand appliance.

8. Used high-end cars. If someone asks you what you drive and you reply "a BMW," they don't usually say "oh yeah, is that one of those high-mileage used ones?" A BMW is a BMW, and a Mercedes is a Mercedes. You would be astonished at the prices some of these cars are going for, right now. A quick look in my area of Colorado brought back results for BMWs with less than 60,000 miles for under $7,000. And these aren't old junkers, they're 2002 -- 2007 models. You can get financing, and for less than $150 a month, you can be driving around a top-of-the-range BMW. A word of warning though ... get it thoroughly checked out first and make sure you know a garage that services BMWs for affordable prices.

9. Custom, handmade gifts. With the rise of stores like Etsy and eBay (EBAY), homemade gifts are becoming much more prominent. Not made by you, but someone skilled and willing to charge a lot less than retail stores. You can find people on Etsy ready to make a personalized hat or scarf for next to nothing. They often do this as a hobby to earn extra cash, and the hourly investment is less than minimum wage on their part. But for some reason, they enjoy selling their wares. Just check out some of these ideas on Pinterest.

10. Personalized Photobooks. In the past, getting a custom made, hardbound book of photos, poetry, or stories would have been an expensive proposition. But now, on demand printing means you can have a site assemble a book of photos for as little as $13. Of course, you can put in all the bells and whistles and make something really extravagant, but even then the cost is going to be much less than you think. When you hand over a book, you are also showing people how much effort you have put into the gift. And if you really want to go all out, visit a store like Lulu. Here you can have someone's novel (perhaps a friend's or family member's?) printed, published and ready to purchase.

What budget purchases that look really expensive have you made? Tell us in the comments section below.

 

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12 Staples All Frugal Cooks Should Have in Their Pantry

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You don't have to spend a fortune to feed yourself and your family well. In fact, having just these 12 inexpensive staples in your pantry will enable you to make a ton of healthy, filling meals, whether you're working off a recipe or just combining elements on the fly.


Paula Pant traveled to 32 countries, runs a popular finance blog and is a successful real estate investor. Her blog, Afford Anything, shows you how to live your boldest, brashest dreams -- whether that's travel, adventure, launching a business, or enjoying a debt-free life.

 

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