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Save Time Selling Items Online -- Savings Experiment

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Save Time Selling Online
There's an easy way to make extra cash selling items online, while having someone else do all the work. Here's how.

You've heard of eBay, but now the site has a new service called eBay Valet. It's a simple way to earn money without all the hassle of setting up listings. To get started, simply package up an item you want to sell, ship it to eBay using a free pre-paid label and then sit back and let eBay Valet handle the rest.

The service will photograph your item, create a professional looking posting and even deal with customer inquiries. Once your item sells, they'll ship the product to the buyer and send you up to 80 percent of the sale price via PayPal.

Before you sign up, it helps to know what you can and can't sell on the site. Electronics, sporting goods, instruments, kitchen appliances and designer shoes are just a few things eBay Valet will advertise for you. However, heavy items, clothing, fragile items and things worth less than $40 are generally not accepted. To play it safe, always check the eBay Valet site first to see if your item will be approved.

Cleaning out your closet this spring? Why not make a few bucks while you're at it. Check out eBay Valet and enjoy the profits of selling online without the extra work.

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How to Get the Most From Your Airline Miles

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Passengers traveling in airplane
Hero Images Inc./Alamy
Racking up thousands of airline reward points is like a video game: it can seem like fun while you're doing it, but then you find out there's no reward at the end of the rainbow.

According to the June issue of Consumer Reports, roughly 100 million consumers belong to airline frequent flyer programs. However, as many of us have found out, it's increasingly difficult to cash in those points for a seat on flight you want to take.

The magazine has analyzed ticket data on 70-million passenger trips over the past two years and come up with recommendations to make the system work in your favor. It has calculated the value of a reward seat for each of the major airlines so that consumers can figure out if they're really getting a "free trip."

Limited Seats Available

"If you're going last-minute, it will cost you a lot more points for the same flight than if you planned ahead," said Jeff Blyskal, senior editor at Consumer Reports. He says the sweet spot is to book a flight three to seven months in advance. That gives you a much greater chance of finding the limited number of seats available to reward point customers.

Consumer Reports notes that most major airlines base the number of seats available to rewards customers on each flight on the destination, time of day day of the week and other factors. United Airlines (UAL) has the most restrictions, while Southwest Airlines (LUV) does not put any of its seats off limits. Blyskal says it's a game of "Russian roulette" for customers trying to work their way around these limits.

"If you can't find a round-trip seat, you might consider trying an award ticket for one way of your trip, because the other leg of your journey may not be available to awards," said Blyskal, "and then pay for the return trip to get the most out of your miles."

The report also says it's important for consumers to get the best bang for their buck when they use reward points. It calculates the value of many routes you might want to fly, based on the price offered by the lowest fare airline on that route -- usually Southwest or JetBlue (JBLU) for domestic travel. The idea is to compare the cash price you would have to pay for that flight against the value of reward points you would need to use. To do that calculation, divide the cash price by the number of miles you would use. For example, if the flight cost $500, divide that by the miles/points you would need to use -- say 30,000. "If that comes out to less than 1 cent per mile, you're wasting your miles," said Blyskal. "You're not getting the full value."

Best Value from Southwest, JetBlue

The magazine found that Southwest and JetBlue often offer the best value in cashing in your miles, but that JetBlue booked the lowest percentage of award seats of the five biggest carriers. For many of the most in-demand routes, United flew 12 percent of its passengers on award tickets, Delta (DAL) 14.5 percent, American (AAL) 21 percent and Southwest 23 percent.

In effect, you're paying about 1 cent to earn each reward point, whether you use them or not. And the airlines make millions of dollars in profit each year because so many customers pay for but never use miles.

While many airlines allow you to cash in those reward points for things other than flights -- everything from hotel rooms to magazine subscriptions -- Blyskal says flying is probably the best use of your points. Other tips from Consumer Reports:
  • If you can't find the right freebie flight online, pick up the phone. Agents are more skilled at working the airline reservation system. There may be a fee to use an agent, but it might be worth the cost if it allows you to take the trip you want to go on.
  • Never buy points to reach your goal. The airlines generally charge about 3 cents a mile, and you'll never get that much back.
  • It may be better to use a general rewards credit card that lets you earn miles than to use a card from a specific airline. It recommends Capital One (COF) Venture, BankAmericard (BAC) Travel Rewards and Discover (DFS) It Miles. They allow you to cash in your reward on any carrier and there are no blackout dates.
  • Even though booking months in advance offers you the best chance of using your points effectively, it's worth checking out last-minute opportunities. Because of cancellations, some award seats become available in the week before a flight.
Finally, Consumer Reports advises that you should not let the lure of using "freebie" tickets dictate your travel plans. Your priorities have to be getting where you want to go when you want to get there, and flying an airline that offers the best service.

 

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SEC Pushes for Display of Link Between Pay, Performance

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Businessman Holding a Document Listening to a CEO in a Conference Room
Digital Vision
By MARCY GORDON

WASHINGTON -- Federal regulators have taken a step toward requiring public companies to show the relationship between the compensation of their top executives and the company's financial performance.

The 3-2 vote Wednesday by the Securities and Exchange Commission on the so-called "pay for performance" rules follows a 2013 proposal that would require companies to disclose the pay gap between CEOs and ordinary employees. The hot-button issue of executive compensation took on greater prominence during the 2008 financial crisis. Outsize pay packages were blamed for encouraging disastrous risk-taking and short-term gain at companies at the expense of long-term performance.

The new rules would require companies to report compensation, including stock options and other benefits, for their top executives for the last five years in most cases. That would be compared in a table with the company's annual return to shareholders during the same period, defined as the percentage change in the stock price. In addition, the company's annual return to shareholders would be compared with those of other companies of similar size and type, called a "peer group."

Interactive Data

For smaller companies, the information would have to be reported for the last three years rather than five. The new table would be provided in the company material that goes out to shareholders each year ahead of their votes at annual meetings. The information would be provided in an interactive data format.

The rules were mandated by the 2010 law overhauling the system of financial regulation, enacted in response to the crisis. They are designed to make shareholders better informed when they vote to elect company directors or in a vote on executives' compensation, SEC officials said. The agency in 2011 gave shareholders at public companies the right to register their opinions on executives' pay at least once every three years, in a non-binding vote.

"Shareholders benefit when good performance is rewarded, and poor performance is not," Commissioner Luis Aguilar said before the vote. The new information should dissuade shareholders from "simply rubber-stamping" executives' pay packages, he said.

The SEC sent out the proposal for public comment for 60 days. It could be finally adopted sometime after that, possibly with revisions to its current form.

Both GOP Commissioners Vote No

As they did with the 2013 proposed requirement on the CEO-employee pay ratio, the two Republican SEC commissioners, Daniel Gallagher and Michael Piwowar, opposed the action Wednesday. They said it was the latest example of federal government intrusion into how companies govern themselves, imposing a "one-size-fits-all" standard of calculating a company's performance.

The agency has yet to formally adopt the rule on the CEO-employee pay ratio, proposed by a divided SEC in September 2013 and touching off fierce controversy. That rule would require companies to disclose the ratio between their chief executive's annual compensation and the median, or midpoint, pay of employees. Business groups like the U.S. Chamber of Commerce have vocally opposed the requirement, saying it would be costly and time consuming for companies to gather the pay information on their employees. The mandate also could put U.S. companies at a disadvantage relative to their foreign competitors, business interests say. Big pay packages must be offered to attract talented men and women who can run multibillion-dollar businesses, they maintain.

The issue of executive compensation strikes a populist chord among the public and critics of corporate America, especially in the wake of the excesses and risk-taking that fueled the financial crisis. Investor advocates, shareholder groups and union pension funds have pushed for reporting of the CEO-employee pay gap.

Critics say the pay gap between CEOs and workers has widened sharply in recent decades. CEOs still are getting much fatter raises than the average U.S. worker. The average 8.8 percent increase in total pay that CEOs got in 2013 dwarfed the average raise that U.S. workers received. The federal Bureau of Labor Statistics has reported that average weekly wages for U.S. workers rose 1.3 percent in 2013. At that rate, an employee would have to work 257 years to make what a typical S&P 500 CEO makes in a year.

 

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Bond Fund Giant Pimco Hires Bernanke as Adviser

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AIG Lawsuit
Carolyn Kaster/AP
By KEN SWEET

NEW YORK -- Pimco has hired former Federal Reserve Chairman Ben Bernanke as a senior adviser, the bond fund manager said Wednesday.

It's the latest private venture for Bernanke, who since his departure from the nation's central bank last year has been on the speaking circuit and was recently hired by a major hedge fund as an adviser as well. Bernanke will provide economic advice to Pimco's fund managers and will occasionally interact with the firm's clients, the Newport Beach, California, company said.

It is routine for former Fed officials to take their economic skills -- and Rolodex of contacts -- to Wall Street after their tenure ends at the bank. Pimco hired Alan Greenspan, the Fed chairman before Bernanke, in 2007 to provide economic advice. Paul Volcker, who led the Fed in the late 1970s and most of the 1980s, went to work for an investment firm after he left the Fed as well.

Active Since Leaving the Fed

Bernanke served two terms as chairman of the Federal Reserve, from 2006 through 2014, spending most of his term dealing with the 2008 financial crisis and the economic aftermath left in its wake. Under his term, the Fed cut interest rates to zero to help bring the U.S. economy out of recession. When zero interest rates were not enough to spur economic growth, the Fed went into uncharted territory for the U.S. economy by implementing several massive bond-buying programs to push interest rates down even further.

Eight years after the financial crisis, the U.S. economy has nearly recovered. The vast majority of economists credit Bernanke's Fed with being largely responsible for that recovery. Unemployment has fallen from a recession high of 10 percent in 2009 to 5.5 percent. The stock market recovered all of the losses from 2007 and 2008 and is setting record highs.

But Bernanke's actions were not without controversy. In 2008, the Fed effectively nationalized American International Group when it appeared the insurance company would collapse. It was the start of what has become known as "too big to fail," where government regulators acknowledged that certain financial institutions were simply too intertwined into the global economy. The Fed's bond-buying programs nearly quadrupled the central bank's balance sheet.

Bernanke has been especially busy in his post-Fed career. He has given several paid speeches, even with his speaking fee reportedly as high as $250,000, and was hired shortly after leaving the Fed by the Brookings Institution, a Washington, D.C. think tank, to provide economic commentary. In March, Bernanke started also blogging with Brookings as well. Earlier this month, Bernanke was hired by Citadel, the $25 billion hedge fund run by billionaire Ken Griffin.

 

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Noting Slower Growth, Fed Keeps Interest Rates on Hold

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Federal Reserve
J. Scott Applewhite/AP
By MARTIN CRUTSINGER

WASHINGTON -- The Federal Reserve has downgraded its assessment of the economy after a winter in which growth nearly stopped. The Fed offered no sign that a rate increase might be coming soon.

On a day when the government said the economy barely grew in the January-March quarter, the Fed appeared no closer to raising its benchmark rate from a record low near zero. The Fed noted in a statement that growth slowed, business investment softened and exports declined. It repeated previous language that it needs to be "reasonably confident" that low inflation will move back to its 2 percent target.

Earlier Wednesday, the government estimated that the economy grew at a barely discernible annual rate of 0.2 percent in the January-March quarter, battered by harsh weather, plunging exports and scaled-back energy drilling. It was the poorest economic showing in a year and was down sharply from a 2.2 percent annual growth rate in the fourth quarter.

Jobs, Oil Prices, Exchange Rates

In addition, U.S. employers added just 126,000 workers last month, the fewest since December 2013, breaking a 12-month streak of gains above 200,000. Gauges of manufacturing, housing and consumer spending of late have been weak to modest.

A sharp drop in oil and gasoline prices had been expected to help boost consumer spending. So far, it hasn't. The economic impact has been mainly negative -- layoffs by oil-industry states and cutbacks in investments by energy companies.

Perhaps the biggest drag on the economy has been a sustained rise in the dollar's value. The stronger dollar has hurt American manufacturers by making their goods costlier overseas. It's also made cheaper foreign imports more competitive in the United States, thereby squeezing sales of U.S. companies and depressing profits. Lower import prices have helped hold U.S. inflation below the Fed's long-run target of 2 percent rate.

Still, economists expect the benefits of lower energy prices to boost consumer spending -- and lift economic growth -- the rest of the year. Economists say that many people who are now pocketing their savings from cheaper gas will likely step up their spending in the coming months.

Once the Fed does start raising rates, it's expected to do so very gradually. And the timetable for a rate hike could be delayed if growth doesn't pick up or if some crisis should erupt. One such threat could be a Greek debt default that spooks financial markets. Whenever it decides to boost rates, the Fed is expected to signal the action well in advance.

 

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Microsoft to Put Android Apps on Windows Phones

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Microsoft Big Show
Jeff Chiu/APA Microsoft executive on Wednesday demonstrates features for its phones.
By Bill Rigby

SAN FRANCISCO -- Microsoft will allow apps from rival Google's Android system onto its own Windows phones later this year to attract users to its unpopular mobile devices, the company's operating systems chief said on Wednesday.

The move marks a radical shift in strategy for the world's biggest software company, which still dominates the personal computer market but has failed to get any real traction on tablets and phones, partly because of a lack of apps.

Microsoft has found itself in a circular trap, as many developers will not build apps for Windows phoneswhich have few users, and few people want the phones which have fewer apps than Android or Apple Inc phones.

There's an App for That

Allowing Android apps onto its phones and tablets could be a shortcut to breaking out of that trap. But the strategy runs the risk of making Windows phones less attractive if they are merely seen as emulations of Android devices. "The only approach to succeed today is to recognize the multiple developer ecosystems out there," said Al Hilwa, an analyst at tech research firm IDC.

Microsoft executive Terry Myerson made the announcement at the company's developer conference in San Francisco on Wednesday. He said Windows phones will run a subsystem which would enable them to run apps written in Androidcode, although the phones would still use extensions provided by Windows.

For example, an Android restaurant-finding app would automatically use Microsoft's Bing maps for directions rather than Google's maps, as it would on an Android phone. That is a crucial distinction because Google gets revenue from ads on services rather than from the Android system itself.

Myerson also said Microsoft's developer software will be compatible with Objective C, the main programming language used by Apple, meaning that it should be easy for developers to bring their iOS apps to Windows phones.

Google declined to comment. Apple did not immediately respond to requests for comment.

Microsoft, which bought Nokia's handset business last year, has only 3 percent of the global smartphone market. By contrast, Android phones, led by Samsung, control 81 percent of the market and Apple 15 percent, according to Strategy Analytics. Microsoft is scheduled to release its new Windows 10 operating system this summer, which for the first time will run across PCs, tablets and phones.

 

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Market Wrap: Weak Economy Sends Stocks Down

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Financial Markets Wall Street Federal Reserve
Richard Drew/AP


By Caroline Valetkevitch

NEW YORK -- U.S. stocks ended lower on Wednesday as the Federal Reserve cited weakness in the U.S. economy and data showed U.S. growth slowed more sharply than expected in the first quarter.

But the Fed's acknowledgement of weakness in some sectors of the economy makes it more likely it will not be ready to raise until at least September, which kept stocks from falling further. "We all know the Fed would love to start normalizing rates, but the simple fact is, the data does not warrant that action right now," said Wayne Kaufman, chief market analyst at Phoenix Financial Services in New York.

While concerned about lingering economic weakness, U.S. investors also are worried about the possibility of the Fed raising interest rates too soon.

Seven of the 10 S&P 500 sectors ended lower, with just energy, financials and materials in positive territory.

Insurance, Health Care Stocks Fall

Insurer Humana's (HUM) shares fell 7.2 percent to $168.05, the second-biggest loser on the S&P 500, after results missed forecasts. Shares of rivals also fell, including UnitedHealth (UNH), which was down 3.4 percent at $113.61. The S&P health care index was down 0.8 percent, the biggest drag on the S&P 500 (^GSPC).

Twitter (TWTR) fell 8.9 percent to $38.49, a day after the company cut its full-year forecast due to weak demand for its new direct response advertising. Other decliners included Wynn Resorts (WYNN), which fell 16.6 percent to $108.77 after the casino operator reported weaker-than-expected first-quarter profit.

Salesforce.com (CRM) jumped 11.6 percent to $74.65 after a Bloomberg report that it is working with financial advisers to help field takeover offers after being approached by a potential acquirer.

By the Numbers

The Dow Jones industrial average(^DJI) fell 74.61 points, or 0.41 percent, to 18,035.53, the S&P 500 lost 7.91 points, or 0.37 percent, to 2,106.85 and the Nasdaq composite (^IXIC) dropped 31.78 points, or 0.63 percent, to 5,023.64.

The central bank's policy statement put in place a meeting-by-meeting approach toward the timing of its first rate hike since June 2006, making such a decision solely dependent on incoming economic data. Earlier in the day, data showed gross domestic product expanded at an only 0.2 percent annual rate as harsh weather put off shoppers and energy companies cut spending.

Declining issues outnumbered advancing ones on the NYSE by 2,023 to 1,008, for a 2.01-to-1 ratio on the downside; on the Nasdaq, 1,853 issues fell and 867 advanced for a 2.14-to-1 ratio favoring decliners. The benchmark S&P 500 posted 11 new 52-week highs and 1 new low; the Nasdaq composite recorded 54 new highs and 51 new lows. About 7.2 billion shares changed hands on U.S. exchanges, above the 6.3 billion daily average for the month to date, according to BATS Global Markets.

What to watch Thursday:
  • At 8:30 a.m. Eastern time, the Labor Department releases weekly jobless claims, 8:30 a.m., and the first-quarter employment cost index; the Commerce Department releases personal income and spending for March.
  • Freddie Mac releases weekly mortgage rates at 10 a.m.
Earnings Season
These selected companies are scheduled to release quarterly financial results:
  • Alliant Energy (LNT)
  • American International Group (AIG)
  • Automatic Data Processing (ADP)
  • Avon Products (AVP)
  • Ball (BLL)
  • BorgWarner (BWA)
  • Bunge (BG)
  • Cardinal Health (CAH)
  • Celgene (CELG)
  • Cigna (CI)
  • Coca-Cola Enterprises (CCE)
  • Colgate-Palmolive Co. (CL)
  • Columbia Sportswear Co. (COLM)
  • ConocoPhillips (COP)
  • Delphi Automotive (DLPH)
  • Diebold (DBD)
  • DineEquity (DIN)
  • Dreamworks Animation SKG (DWA)
  • Eastman Chemical Co. (EMN)
  • Expedia (EXPE)
  • Extended Stay America (STAY)
  • Exxon Mobil (XOM)
  • FireEye (FEYE)
  • First Solar (FSLR)
  • Gilead Sciences (GILD)
  • GNC Holdings (GNC)
  • HealthSouth (HLS)
  • Home Properties (HME)
  • Imax (IMAX)
  • Invesco (IVZ)
  • L-3 Communications (LLL)
  • LinkedIn (LNKD)
  • Marathon Petroleum (MPC)
  • Martin Marietta Materials (MLM)
  • New York Times Co. (NYT)
  • Nokia (NOK)
  • Novo Nordisk (NVO)
  • Phillips 66 (PSX)
  • Phillips 66 Partners (PSXP)
  • Pinnacle Foods (PF)
  • Pitney Bowes (PBI)
  • Regal Entertainment Group (RGC)
  • Royal Bank Scotland (RBS)
  • Ryland Group (RYL)
  • Sanofi (SNY)
  • Sealed Air (SEE)
  • Shire (SHPG)
  • Sony Corp Ord (SNE)
  • Teva Pharmaceutical Industries (TEVA)
  • Time Warner Cable (TWC)
  • Valley National Bancorp (VLY)
  • Viacom (VIAB)
  • Visa (V)
  • Western Union Co. (WU)
  • Xcel Energy (XEL)

 

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Black & Decker to Pay $1.6M for Lawnmower Defects

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Stanley Works Black and Decker
Danny Johnston/AP
BALTIMORE -- Black & Decker has agreed to pay almost $1.6 million to settle allegations that it failed to report safety problems with cordless electric lawnmowers.

The Department of Justice and Consumer Product Safety Commission claimed that the company violated reporting requirements of the Consumer Product Safety Act. Officials said Wednesday that the problems involved lawnmowers that either started spontaneously or that continued to operate after users released the handles and removed the safety keys. The lawnmowers were manufactured and sold by Black & Decker from 1995 to 2006.

Black & Decker did not admit any wrongdoing in agreeing to the settlement, which requires court approval. But authorities noted that the company has previously paid four civil penalties relating to untimely reporting of defects and risks involving other Black & Decker products.

 

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Score a Designer Kitchen for Pennies on the Dollar

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By Marilyn Lewis

Thrifty home-design mavens have been rescuing and re-using vintage home materials for some time. And now the trend is taking a decidedly upscale turn. "The re-use movement is increasingly harvesting newer, more high-end material," reports Seattle's KOMO TV.

Case in point: Savvy shoppers are buying whole kitchens second-hand as wealthy homeowners tear out their upscale kitchens and replace them with newer, fancier versions. The savings for thrifty buyers can be so great that in some cases it pays to buy and move the purchases across the country.

The Bargains

Kurt Petrauska, owner of Earthwise Architectural Salvage in Seattle, talked with KOMO after receiving "granite counters, full pantry and built-in stainless appliances that included a bread warmer" from a homeowner who was remodeling. Petrauska said: "I would venture to say something like that new would be around $20,000. I think it sold for $3,300."

Debbie and Steve Zografos, told KOMO that they spent $20,000, including packing and shipping it from Connecticut, on a used custom kitchen that they estimate was worth $80,000 to $100,000 new. The package included "Dacor double ovens and six-burner range, a Sub-Zero refrigerator-freezer, stainless steel sinks and faucets, a huge island, thousands of dollars' worth of drawer pulls and walls of custom cabinetry designed by well-known Canadian cabinet manufacturer Andre Julien."

Many Advantages

There are numerous advantages to using salvaged and vintage home materials:
  • You can stretch a slender budget further.
  • Remodeling projects have a unique look.
  • You can use beautiful old materials that you might not be able to afford to buy new, even if you can find them.
  • The burden on landfills is lightened a bit and fewer raw materials are consumed by manufacturers.
  • Homeowners restoring period homes may locate hard-to-find cabinets and furnishings.
Green Demolitions, the source of the Zografoses' reclaimed kitchen, calls itself "North America's premier luxury recycler for kitchens, high-end renovation items, showroom displays, and new-in-box overstocks." It has a 43,000-square-foot showroom in Fairfield, New Jersey. CEO Steve Feldman founded Green Demolitions in 2005. In a video on the company's website, he says: "It's a black or white scenario. It's either getting thrown out and wasted, or it's being recycled, repurposed and turned into cash."

How It Works

The Green Demolitions video also features actress Edie Falco ("The Sopranos"), who donated her kitchen through an affiliated nonprofit company, Renovation Angel. Donors can claim tax deductions and direct proceeds from the sale of their gifts to a favorite charity. Falco selected The Sanctuary for Animals, a New York nonprofit, to benefit from the sale of her kitchen. Renovation Angel devotes a page of its site to its success stories.

KOMO describes Green Demolitions kitchen deals: "The typical midrange luxury kitchen they take in runs about $100,000 new. The kitchens are priced based on condition and style and will sell second-hand for anywhere from $40,000 down to $10,000."

Baristanet, a news site covering several New Jersey suburbs, visited the big showroom and found a kitchen selling for $21,000. Valued originally around $75,000, it had blue pearl granite countertops, "a Thermador stainless steel double oven, a 48-inch Viking range with hood, a 48-inch Sub-Zero refrigerator, and cherry cabinets and island."

Make Way for Luxury

Tempting as these bargains are, fitting a recycled kitchen into your existing home isn't necessarily a piece of cake. In its FAQ, Green Demolitions says: "In most kitchens the cabinets are modular and can be rearranged to fit into a different space. As long as you have roughly enough cabinets and enough ceiling height, a kitchen from one home can be retrofitted into numerous different homes." Nevertheless, there are issues to consider. Some guidance:
  • Measure precisely. Buyers must understand exactly what they are buying, including the dimensions of the purchase "because once you get it, it's yours," Debbie Zografos tells KOMO. Measure your kitchen space and draw a detailed layout to plan where you'll place the new components.
  • Be prepared for cleanup. Recycled kitchens and individual components typically are removed and sold as-is. You may not know exactly what you've bought until you receive it. The Zografoses had to clean their ovens and some cabinets.
  • Keep your emotions in check. Don't buy impetuously, advises Baristanet, which writes about a Green Demolitions client "who fell in love with a salvaged Clive Christian kitchen, had it shipped to his home (in) Michigan -- and had two contractors try, and fail, to make it fit in his kitchen. That customer is now consigning that kitchen at Green Demolitions."
Sources and Inspiration

As the desire to recycle grows among affluent homeowners, so do the number of sources for higher-end salvaged goods. Here are some sources and ideas:
  • Ask around. Inquire and search online for builders and architects in your town who might sell cast-offs from remodeling jobs.
  • Period Homes magazine's online directory lists sources for architectural antiques and salvaged building materials.
  • Search online for "architectural salvage" and your city's name. Be on the lookout for all manner of reclaimed home furnishings and construction materials, from doors to cabinets to marble, says online magazine Digital Trends. It won't necessarily be luxe or in great shape, but DIYers often score rock bottom prices.
  • Find inspiration and ideas online at Seattle's Earthwise Architectural Salvage.
  • Eco-officiency lists sources for recycled building materials and home furnishings.
  • Don't forget Habitat for Humanity stores. Use the store locator to find a nonprofit home improvement store and donation center in your city selling used building materials, furniture and appliances. Proceeds benefit Habitat for Humanity programs.
  • Search online for local sources of used luxury appliances. Just for example, an online search turned up a link to Highend Appliance, in the Austin, Texas, area. It specializes in "new-distressed and used versions of the sought-after, higher-grade appliances."
Do you have tips on salvaged materials for renovation? Share in the comments section below or on our Facebook page. Like this article? Share it with your network! Like this article? Sign up for our newsletter and we'll send you a regular digest of our newest stories, full of money saving tips and advice, free! We'll also email you a PDF of Stacy Johnson's "205 Ways to Save Money" as soon as you've subscribed. It's full of great tips that'll help you save a ton of extra cash.

 

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Contemporary Fashion Brands With the Best Resale Value

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TRESemme At Rebecca Minkoff - Runway - Mercedes-Benz Fashion Week Fall 2015
Victor Virgile/Gamma-Rapho via Getty ImagesAt thredUp, Rebecca Minkoff fashions generate the highest return for consigners.

By Krystina Gustafson

Which designers command the best return when their fashions are sold online? Online consignment store thredUp has compiled the answer.

The list of high-end brands is full of the usual suspects: Gucci, Burberry and Chanel are some of the names that can earn resellers about $90 to $100 an item. But James Reinhart, co-founder and CEO of thredUp, said that mainstream brands are also leaving their mark, pointing to Zara, J.Crew and Lilly Pulitzer as some of the most-searched labels on the site. Mainstream retail brands typically bring in about $8 to $10 for resellers, according to thredUp's data. Brands such as Zara, which have a lower original price tag, typically sell for about $5.

ThredUp scanned its database of nearly 19,000 labels sold on its site in 2014, and pulled together a list of the contemporary brands -- those that target a younger shopper and are less pricey than true luxury items -- to see which give sellers the most bang for their buck. Determining factors include its original selling price and how in-demand it is among shoppers.

10. Michael Kors

  • Average percent you'll earn of original spend: 12 percent.
  • Average amount you'll earn: $30.
  • Michael Kors is still riding the wave of its namesake designer serving as a judge on "Project Runway." But Reinhart said it's not just the brand's popularity that scored it a place on the top 10 list. "It's their ability to kind of stretch the brand," he said, pointing to its lower-priced Michael by Michael Kors line as well as its reach across handbags and apparel.

9. Diane von Furstenberg

  • Average percent you'll earn of original spend: 13 percent.
  • Average amount you'll earn: $40.
  • Forty years after inventing the iconic wrap dress, designer Diane von Furstenberg's label is still a shopper favorite. While members selling von Furstenberg's styles on thredUp earn an average $40, buyers are also reaping the benefits. The average resale price on the site is $73 -- a fraction of the average retail price of $359.

8. Frye

  • Average percent you'll earn of original spend: 13 percent.
  • Average amount you'll earn: $30.
  • Some Frye boots retail upward of $1,000.

7. Alice + Olivia

  • Average percent you'll earn of original spend: 13 percent.
  • Average amount you'll earn: $35.
  • Synonymous with feminine dresses that are perfect for special occasions, Alice + Olivia is perfect for partygoers who wouldn't be caught dead in the same frock twice.

6. Rag & Bone

  • Average percent you'll earn of original spend: 14 percent.
  • Average amount you'll earn: $40.
  • Rag & Bone makes designer fashion look effortless but often at a steep price -- upward of $200 on a tank top.

5. Marc Jacobs

  • Average percent you'll earn of original spend: 15 percent.
  • Average amount you'll earn: $70.
  • The an average retail price is $900 for a Marc Jacobs handbag.

4. Dooney & Bourke

  • Average percent you'll earn of original spend: 16 percent
  • Average amount you'll earn: $30
  • Handbag maker Dooney & Bourke is one of the fastest-selling labels on thredUp, ranking behind only Lululemon and Toms.

3. Tory Burch

  • Average percent you'll earn of original spend: 17 percent.
  • Average amount you'll earn: $45.
  • Tory Burch fanatics are notorious for wearing the designer's branded ballet flats. One pair listed on thredUP was sold within five minutes.

2. Kate Spade

  • Average percent you'll earn of original spend: 18 percent.
  • Average amount you'll earn: $45.
  • The brand is best known for handbags, the fastest-selling category on thredUp last year.

1. Rebecca Minkoff

  • Average percent you'll earn of original spend: 22 percent.
  • Average amount you'll earn: $55.
  • Rebecca Minkoff built a reputation as a leader in technology among high-end brands. These innovations include connected stores, which feature touch-screen mirrors that allow shoppers to request another size without leaving the dressing room.

 

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10 Easy, Convenient Garden Hacks for Under $20

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By Abby Hayes

Gardening, when it's done right, can be a great way to save money. Just imagine if you could grow all your own tomatoes for the summer without spending a fortune. With these 10 tips, you just might.

1. Choose the Right Plants

An unsuccessful garden often stems from choosing the wrong plants. If you don't want to dump loads of money into your garden, choose the right fruits and veggies for your area. Hardy varieties suited to your soil and climate will make the rest of the process a breeze.

Cost: Free! You're going to buy plants anyway, so you might as well buy the right ones to start.

2. Start Vegetables From Seed

Starting seeds indoors is difficult. However, plenty of vegetables and fruits are easy to direct sow. Just prepare your soil, put the seeds in at the right time and watch them go. Some easy options to direct-sow include corn, carrots, zucchini, turnips, beets, radishes and leafy greens.

Cost: 50 cents to $1 per seed packet.

3. Try Containers

If you're new to gardening or don't have a lot of space or time to invest, consider a container garden. You can use old containers, or pick them up for a couple bucks at your local dollar store. Add in a 1:1:1 blend of compost, vermiculite and peat moss for a rich DIY potting soil, and go to town.

Cost: Less than $5 for a container. Small bags of vermiculite, compost and peat moss can be found for under $10 each and should fill a few containers.

4. Make Your Own Compost Bin

Compost is one of the best ways to boost your garden's fertility. It's a great fertilizer for any garden, it's easy to make and you don't even need a fancy compost bin. If you have a large backyard, you can make a compost pile for free. Just pile up roughly equal volumes of acceptable food scraps (read: no meats, bones or dairy) with yard waste (leaves, weeds, lawn clippings). Turn it over once in a while, and it will become compost. In a smaller space, you can make a simple trash can compost bin.

Cost: Free to $20.

5. Use Cattle Fencing for Vining Produce

You can buy a 2-by-6-foot piece of cattle fencing -- a raw steel wire grid -- for about $20. You can turn it into an arch, or clip the piece in half and zip-tie the top to create a narrow V. Either option is great for trying tomatoes, beans, melons and other vining produce. The fence is sturdier than traditional tomato cages, and it lets you use your garden space more efficiently.

Cost: $20 or less.

6. Build a Cheap Rain Barrel

You can make your own affordable rain barrel to collect water. All you need is a big 55-gallon drum and a spigot head. You could even link two together with an overflow pipe for longer-lasting rainwater collection.

Cost: $15 to $20.

7. Try Companion Planting

Companion planting is an excellent way to increase the overall health of your garden -- for free. Just take your plants and position them so they benefits from their neighbors. For instance, marigolds repel pests, so plant them next to your tomatoes.

Cost: Free.

8. Attract Beneficial Insects

Want to have a more beautiful and bountiful garden? Plant flowers that attract beneficial insects to your garden. Some herbs and flowers even do double-duty by attracting pollinating and pest-eating insects while repelling those that do damage. Bachelor's buttons and sweet alyssum are two grow-from-seed options that work well.

Cost: $1-$20 (depending on how you buy your flowers).

9. Use Last Year's Leaves for Mulch

If you're not already composting last year's leaves, they make great mulch. Simply mow over the leaves with a mower that collects clippings in a bag. Then, dump them up to 3 inches thick on your vegetable garden. They'll naturally decompose and hold in water while they do.

Cost: Free.

10. Plan

The No. 1 thing you can do to save money on gardening is to plan. The last thing you want is to wind up with loads of fussy fruit and vegetable varieties that require soil amendments and babying all summer long. Figure out what zone you're in and your area's native vegetation. Then learn the best time to plant, how to repel the most common pests and how to head off common problems before they start. This simple step can turn a disastrous gardening experience into a fruitful, deliciously fun hobby.

Cost: Free.

Abby Hayes is a freelance blogger and journalist who writes for the personal finance blog The Dough Roller, which covers topics ranging from credit scores and banking to how much money you should be saving.

 

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Get Paid Cash to Transfer Your Retirement Accounts

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By Kathy Kristof

If you want a great return on your money, forget about the interest rate and look for accounts that offer cash bonuses. In an effort to poach customers from their competitors at a time when interest rates are excruciatingly low, banks and brokers are offering cash giveaways. Although these bonus payments won't make you rich, they offer a certain return in an environment where a risk-free yield is otherwise elusive.

Fidelity, TD Ameritrade, E-Trade, Motif Investing

Among those that have gotten into the act is Fidelity Investments, which recently launched an Individual Retirement Account matching program. If you transfer assets in a traditional, Roth or rollover IRA invested with another company to Fidelity, the Boston-based mutual fund giant will match a portion of your subsequent contributions for three consecutive years.

How much can you get? That depends on how much you deposit and add to the account. Fidelity's match is only on new contributions-after your initial transfer-and the match ranges from 1 percent to 10 percent of the new contribution, depending on the amount of the initial deposit. If you transfer the minimum amount of $10,000, your match is 1 percent. To get the top 10 percent match, you must transfer at least $500,000 to Fidelity. The government limits annual IRA contributions to $5,500 ($6,500 for those over age 50), so Fidelity's match would range from $55 to $650 a year.

Both TD Ameritrade and E-Trade offer deals that are based on the amount of money you shift into new accounts. If you transfer $250,000 or more, both E-Trade and TD Ameritrade will pay $600 and provide a number of commission-free trades.

Motif Investing, an online brokerage, is offering a similar deal. Those who transfer at least $5,000 to a Motif IRA before the end of 2015 can get a one-time bonus of $150. However, neither Motif nor Fidelity pay cash if you're transferring assets from a company-sponsored retirement plan. You need to bring in money from a competitor. TD Ameritrade and E-Trade make no such demand.

Banks Want Your Money, Too

And brokers are not the only ones trying to poach IRAs. Ally Bank is paying bounties of $100 to $500 for IRAs transferred from other institutions, depending on the size of the deposit. Ally's program is set to expire at the end of May.

Don't need another IRA? You can get a bonus just for moving your checking account. Chase Bank, for instance, has been offering promotions in select regions that promise bonus payments of as much as $300 to people who open checking accounts funded with direct deposits from an employer or another account that's not your own. You don't have to maintain a minimum balance to get the bonus, but if you want the checking account to remain fee-free, you need to either direct-deposit at least $500 a month or maintain a daily minimum balance of $1,500. Assuming you leave just the $1,500 minimum in the account, the $300 bonus is the equivalent of earning a whopping 20 percent on your money. The bad news? To take advantage of the Chase promotion, you have to get a postcard in the mail and take the coupon to a Chase office.

Chase's deal is far from unique. Open an "extra20" checking account at Santander Bank and follow the program rules and you'll get $20 a month indefinitely.

Sticky Accounts

What are all the bonuses about? They're a way to get customers to open "sticky" accounts -- financial industry jargon for business that is impractical or hard to move to another firm. That gives the financial institution time to hook you on its service and win over more of your business, says Mark Schwanhausser, research analyst at Javelin Strategy & Research, a consulting firm in Pleasanton, California. "They want a chance to impress you. It's not a bet on an immediate profit. It's a bet on a long-term relationship."

A Fidelity executive agrees but adds that what's good for the institution is also great for the customer. "Our program gives people a reason to come to Fidelity," says Lauren Brouhard, senior vice president of retirement. "It rewards them for doing so but also rewards them for doing what is good for them."

 

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Why Google Plus Failed, According to Google Insiders

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By Lisa Eadiciccio

Google is changing its strategy with Google Plus. In a sense, it's giving up on pitching Google Plus as a social network aimed at competing with Facebook. Instead, Google Plus will become two separate pieces: Photos and Streams.

This didn't come as a surprise -- Google Plus never really caught on the same way social networks like Facebook (FB), Twitter (TWTR), or LinkedIn (LNKD) did.

Technically, tons of people use Google Plus, since logging into it gives you access to Gmail, Google Drive and all of Google's other apps. But people aren't actively using the social network aspect of it.

What Larry Page Wanted

Rumors have been swirling for months that Google would change its direction with Google Plus. Business Insider spoke with a few insiders about what happened to the network that Google believed in 2011 would change the way people share their lives online. Google Plus was really important to Larry Page, too -- one person said he was personally involved and wanted to get the whole company behind it.

The main problem with Google Plus, one former Googler says, is the company tried to make it too much like Facebook. Another former Googler agrees, saying the company was "late to market" and motivated from "a competitive standpoint." Google declined to provide comment for this story.

There may have been some paranoia -- Facebook was actively poaching Googlers at a certain point, one source said. Google Plus employees within Google were sectioned off, this person said, possibly to prevent gossip about the product from spreading. Google Plus employees had their own secret cafeteria called "Cloud," for example, and others on the Mountain View campus weren't permitted. "There was definitely an aura of fear for a time," this person said.

Anatomy of What Happened (and Didn't)

Another former Googler, however, said the secret cafeteria was just a standard security measure; there are multiple places on Google's campus where only particular employees' security cards can be swiped. This person also said he or she didn't experience any paranoia about Googlers being actively poached by Facebook. Here are some other things we heard from former Google employees:
  • Google Plus was designed to solve the company's own problems, rather than making a product that made it easy for its users to connect with others. Google doesn't have to manage a ton of user profiles for its various apps and services. Logging into Google Plus connects you to all of Google's products, which is useful. But it didn't yield a social experience that was as simple as those like Facebook or LinkedIn. People had to think about who they wanted to add to circles rather than simply adding someone as a friend on Facebook or adding someone to their network on LinkedIn.
  • One person also said Google didn't move into mobile fast enough with Google Plus. Facebook, however, realized it was slow to move into mobile and made up for lost time -- now most of Facebook's revenue comes from mobile and it owns a bunch of apps. Instead, Google Plus focused on high-resolution photos, which were great for desktop experiences and the Chromebook but took a while to load on mobile.
  • When Vic Gundotra, who led Google Plus and played a big role in creating it, left the company about a year ago, it came as a complete surprise. There was no succession plan, one former Googler said. It was like "here one day and gone the next."
Although Google Plus didn't boom into a massively successful social network, that doesn't mean it completely failed. Google (GOOGL) made a solid platform that makes it easy for the millions of people that use its products to seamlessly log in to all of the company's apps. It made a really useful tool for organizing your photos online. But it's not a mainstream social network, and it never caught up to giants Facebook and Twitter in that regard.

 

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6 Crucial, Overlooked Factors in Renting or Buying a Home

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Are you overlooking crucial factors in your search for a home? Both renters and homebuyers consider factors like the bedrooms, bathrooms, square footage and rent or mortgage payment. But these aren't the only qualities that will determine whether a home is the right fit.

These six often-ignored factors can make a massive difference in how happy you'll feel with a property.

1. Sunlight

Sunlight has been scientifically proven to affect your mood, productivity and energy levels. If every room in a house has high, narrow windows (or few windows at all), you could find yourself living in a pretty gloomy atmosphere.

In addition, if your windows are north-facing, you'll get less sunlight than those with south-facing window exposures (assuming you live in the northern hemisphere).

You can supplement lack of natural light to some extent with lamps and overhead lighting, but it's not the same. There's no substitute for natural light.

2. East- and West-Facing Rooms

Speaking of natural light, you also want to bear in mind which direction your home is facing, as this will affect the amount of sunlight certain rooms get throughout the day.

If the kitchen is on western side of the house, for instance, your kitchen will heat from the afternoon sun, meaning the kitchen will be hottest right before you return home from work. That's unpleasant, especially since the heat from the oven and stove will also cause kitchen temperatures to rise. In the summer, this one-two punch of heat might tempt you to dine out more, which can affect both your health and your finances.

Likewise, bedrooms that have eastern-facing exposures may get direct sunlight early in the morning - which can be either a positive or negative feature, depending on whether you're a morning bird or a night owl.

3. Walkability to Local Amenities

The more you can walk to local attractions like stores, restaurants and schools, the less dependent you'll be on owning a vehicle. This can mean lower gas bills (and other auto savings) for you, as well as an overall healthier lifestyle. It can also make you feel more connected to your community.

4. Commute Time

Is buying your "dream home" worth spending an hour fighting traffic to reach work everyday? We spend enough of our lives at work as it is; cutting into your personal time even further with a hefty commute can make you miserable, even if you live in the nicest of houses.

If the home you're considering is close to your current workplace, how long do you plan on staying at that job? What are the most likely neighborhoods where your next job might be held?

5. Neighborhood Noise and Activity

Visit any property you're considering at different times of day to get a feel for when the neighborhood gets busy. You might find it's hectic and noisy during rush hour, or that the streets fill up on the weekends because you're located close to shopping and dining attractions. You might notice that the sidewalks are bustling with people during the daytimes but not late at night, or vice versa.

Make sure the ebb and flow of the neighborhood's energy levels match your own, or you could find yourself resenting your location.

6. Layout

If you work from home, is the office right next to the family room, where your kids will be roughhousing and shouting?

Will guests have to walk through your bedroom to access the upstairs balcony?

Is the bathroom directly off the kitchen, and will any resulting wafts or aroma cause you or your guests to feel grossed out?

It's not just the number of rooms in a house that matters; it's also the layout of those rooms. Make sure the flow makes sense for your needs and won't cause awkward or annoying situations.

Remember, when you're searching for a home, obvious criteria like the number of bedrooms, bathrooms, square footage and price will remain at the forefront. But non-obvious factors, such as natural light and neighborhood noise, will make a massive impact in your day-to-day experience. Weigh these with the importance they deserve.

 

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Which of These 5 Money Personality Types Are You?

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Personality types don't stop at "shy" vs. "outgoing" or "laid-back" vs. "worrier." People's money-management habits tend to fit into five financial personality categories, according to "The 5 Money Personalities: Speaking the Same Love and Money Language" by Bethany and Scott Palmer.

According to this book, there are five major personality types. If halves of a couple have opposing personality types, they might argue about money -- but handled the right way, these divergent types can also help them balance each other out and lead to a successful financial life together.

The key lies in knowing which major money personality type you and your mate fall under, and learning how can you live in harmony. Let's take a look.

The 5 Financial Personality Types
  1. Spenders believe money is meant for spending and have no trouble parting with their dollars. Sometimes they spend more money than they should or live above their means because they get caught up in the moment or see something they "have" to have. They usually spend first, think later. On the plus side, though, spenders tend to be generous with their friends and support charitable causes with ease.
  2. Savers love to get a good deal. These fervent bargain-hunters clip coupons, compare prices and hate to pay full price for anything. As easy as it is to get Spenders to part with their money, it's equally hard to get Savers to part with theirs. At their worst, Savers can be viewed as cheapskates who don't tip servers well or skip out on their portion of a shared bill. They can sometimes undervalue their time, as well. At best, however, Savers can be resourceful and creative, and they role-model a lifestyle that's not focused on material possessions.
  3. Risk-Averse personalities place security and planning as their No. 1 concerns. They prefer proven, safe investments and like to plan and research before making any big purchases. They view money as a tool that generates security. Their hesitation to part with money or seek out investment opportunities comes from their high priority on feeling financially stable. At best, Risk-Averse personalities can help a family maintain solid financial footing. At worst, they may forgo opportunities for growth due to risk concerns.
  4. Gamblers think money is all about the thrill of the chase. They'll take big risks if it means a potentially big payoff, and they're driven more by optimism and gut feeling than by details and analysis. At best, Gamblers may dramatically increase their wealth with a winning investment. At worst, however, Gamblers may lose it all.
  5. Flyers are best described as the "doesn't pay attention" personality type. These people simply don't think about money at all. They don't view money as a tool that creates security, status symbols or anything else. They'd be equally happy with a tiny or massive bank balance, and they believe that people who think too hard about money (like Savers and the Risk-Averse) are a bit obsessive.
Most people have a dominant and secondary personality type. If you felt drawn toward two categories, this could be the case for you.

How to Get Along With a Different Personality Type

Let's say that you and your mate have identified your personality types, and they're wildly different. Don't worry; you can leverage this into strength in your relationship, rather than a trigger for fights. Here are some ways to find common ground.
  • Understand. Talk to each other about your personalities and your short- and long-term goals. Don't judge each other; simply listen and try to understand where your partner is coming from.
  • Communicate and compromise. Whenever your financial personalities clash, talk out what underlying concerns a financial decision is raising. If you're Risk-Averse and worried about a huge upcoming expense, perhaps you could build a stronger emergency fund first. If you're trying to put together a joint budget but one of you is a Saver and the other is a Spender, maybe you could compromise that you'll save X dollars a month but also allow for X dollars a month in guilt-free spending money.
  • Work as a team. Your differences can actually complement and keep each other in check, making you stronger in the long run as a couple, but only if you work together. Learn to approach money decisions as a united front, not as a "me vs. you" argument, and you can find that sweet spot where you make the perfect team.

 

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Got a Tattoo? The Apple Watch Isn't Working Right for You

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Reuters journalist Matt Siegel inputs his passcode onto his Apple Watch as his tattoos prevent the device's sensors from correctly detecting his skin, in Sydney, Australia, April 30, 2015.  REUTERS/Jason Reed
Jason Reed/ReutersReuters journalist Matt Siegel knows firsthand about Apple Watch glitches with tattoos.
By Matt Siegel

SYDNEY -- Early adopters of the Apple Watch -- Apple's first new product in five years -- are complaining that a number of its key functions are disrupted by their tattoos.

Owners of Apple Watch -- including this reporter, who bought a 42mm version with stainless steel case and black classic buckle for A$1,029 ($822) -- have found that their inked skin confuses the sensors on the underside of the device. Users of the watch, which went on sale last week, took to social media on Thursday under the hashtag #tattoogate to air their frustration with the flaw from Apple's renowned design house.

One anonymous user on Reddit, an entertainment, social networking, and user-generated news website, said the device's locking mechanism, which should disengage when the watch detects it is being worn, failed to work on decorated skin. "My hand isn't tattooed and the Watch stayed unlocked. Once I put it back on the area that is tattooed with black ink, the watch would automatically lock again," the user wrote.

Apple Acknowledges Issues With Heart Rate Monitor

This Reuters reporter, who has a black tattoo on his left arm, also found that the watch locks on tattooed skin and does not deliver the soft pings that alert a user to incoming messages. The heart rate readings were also significantly different on the tattooed and untattooed wrists.

An Apple support article says the watch uses green LED lights paired with light-sensitive photodiodes to detect the amount of blood flowing through the wrist and calculate the frequency of heartbeats.

A website support page from the company says tattoos can interfere with readings from the heart rate monitor, but does not mention interference with other functions.

"Permanent or temporary changes to your skin, such as some tattoos, can also impact heart rate sensor performance. The ink, pattern, and saturation of some tattoos can block light from the sensor, making it difficult to get reliable readings," it said.

A spokesman for Apple in Sydney declined to comment on Thursday, but three Apple employees at its flagship Sydney store, including a senior advisor from its tech support line, said they were unaware of any issue. "To be honest, you're my first caller about the Apple Watch at all," the senior advisor told Reuters.

Taptic Engines Breaking Down

The tattoo issue follows a report in the Wall Street Journal on Wednesday that some taptic engines, which produce the sensation of being tapped on the wrist, started to break down over time, a flaw that was slowing the rollout of the item.

The report said the problem had been detected in some of the parts supplied by AAC Technologies Holdings, based in Shenzhen, China. Shares in AAC Technologies dropped 8 percent on Thursday morning after the report. The company did not respond to requests for comment.

A Taipei-based technology analyst, who is in regular contact with AAC, said he was not aware of the tattoo problem, but did not expect it would have a significant impact on production.

"We have been hearing suppliers encountering some bottleneck issues for Apple Watch's production such as problems with its displays, haptics or assembly," he told Reuters, adding that those issues were quite common for new products.

 

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Data Suggest Economy Picking Up Steam After Weak 1Q

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Charlie Riedel/APA worker inspects a new 2015 Ford F-150 truck at the company's Kansas City Assembly Plant.
By Lucia Mutikani

WASHINGTON -- The number of Americans filing new claims for jobless benefits tumbled to a 15-year low last week and consumer spending rose in March, signs the economy was regaining momentum after stumbling badly in the first quarter.

The economic outlook was brightened further by another report Thursday showing a solid increase in wages in the first quarter, which should keep the Federal Reserve on track to raise interest rates this year.

This morning's reports all point to an economy that is doing a lot better than the near-stagnation in first-quarter GDP suggests.

"This morning's reports all point to an economy that is doing a lot better than the near-stagnation in first-quarter GDP suggests," said Paul Ashworth, chief U.S. economist at Capital Economics in Toronto.

Initial claims for state unemployment benefits fell 34,000 to a seasonally adjusted 262,000 for the week ended April 25, the lowest reading since April 2000, the Labor Department said.

Though the decline, which far exceeded Wall Street's expectations for a drop to 290,000, likely exaggerates the labor market's health, it bolstered views that March's sharp moderation in job growth was probably an aberration.

Separately, the Commerce Department said consumer spending, which accounts for more than two-thirds of U.S. economic activity, rose 0.4 percent last month as households stepped up purchases of big-ticket items like automobiles.

The increase followed a 0.2 percent gain in February and indicated that consumer spending picked up momentum at the end of the first quarter, which bodes well for consumption in the April-June period.

While that should boost growth in the second quarter, the rebound in economic activity could be crimped by an inventory overhang, a strong dollar and ongoing spending cuts in the energy sector, which has been hit by lower oil prices.

Another report showed that factory activity in the Midwest accelerated in April, pushing further away from a 5½-year low hit in February.

The Institute for Supply Management-Chicago's business barometer rose to 52.3 from a March reading of 46.3. A reading above 50 indicates an expansion in the region's factory sector.

Stocks on Wall Street fell despite the fairly upbeat economic data, as Colgate-Palmolive cut its full-year profit forecast for the second time because of the buoyant dollar.

Sentiment was also hurt as ConocoPhillips (COP), the largest independent U.S. energy company, reported that its first-quarter profit fell to $272 million from $2.1 billion a year earlier due to lower crude prices.

Prices for U.S. government debt fell, with the yield on benchmark 10-year Treasury notes touching near a seven-week high. The dollar slipped against a basket of currencies.

Wages Accelerating

When adjusted for inflation, consumer spending rose 0.3 percent in March after being flat in the prior month.

The economy slowed to a crawl in the first quarter as it struggled with severe winter weather, a now-settled labor dispute at normally busy West Coast ports, the strong dollar and lower energy prices, which have cut into domestic oil production.

The Fed acknowledged Wednesday the first quarter's sharp growth moderation, but dismissed it as partly the result of transitory factors.

Spending last month picked up despite personal income being flat. But the income weakness will likely prove temporary as the labor market gradually tightens.

In a fourth report, the Labor Department said the Employment Cost Index, the broadest measure of labor costs, advanced 0.7 percent after a 0.5 percent rise in the fourth quarter.

The ECI is widely viewed by policymakers and economists as one of the better measures of labor market slack.

In the 12 months through March, labor costs jumped 2.6 percent, the largest rise since the fourth quarter of 2008. They are approaching the 3 percent threshold that economists say is needed to bring inflation closer to the Fed's 2 percent target.

Private sector wages and salaries increased 0.7 percent after gaining 0.5 percent in the prior quarter. They rose 2.8 percent in the 12 months through March, the biggest gain since the third quarter of 2008.

"The conditions seem to be in place for labor costs to start breaking out on the upside, and that would be enough to provide the Fed with the confidence that the inflation target will be reached," said Joel Naroff, chief economist at Naroff Economic Advisors in Holland, Pennsylvania.

 

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Savings Big Cell Carriers Don't Want You to Know About

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Secret Cell Plans Offer Big Savings

By Hiram Reisner

Ever been somewhere with the kids and wanted to pretend they weren't yours? That's apparently how the big four cellphone providers feel about their offspring. They don't mind them being both seen and heard, but they'd prefer you not know they're associated with them.

They're called subbrands or discount carriers, and AT&T (T), Verizon (VZ), Sprint (S) and T-Mobile (TMUS) all have them. So it's time to shed some light on these family members, because they hold the key to substantial savings on your cellphone bill.

Here's a list of discount brands offering service with the big four carriers:

Major Brand Discount Brand
AT&T Cricket
Sprint Boost Mobile
T-Mobile GoSmartMobile
Verizon Total Wireless

Why a subbrand?

The subbrands use the same towers and systems as the major brands, but at a lower price and with no contract. Although you should check first, the parent network phone should be compatible with the subbrand service. If not, buy a good used phone or a new one that's unlocked and compatible.

As we explained in 4 Steps to Cut Your Cellphone Bill in Half, phone prices are dropping, so there's no longer any reason to be locked in a contract for an extended period of time simply to get a subsidized phone. Discounters typically offer phones for less than $100.

SaveOnPhone.com says these "secret cellphone plans" can save consumers 60 to 75 percent off their monthly bills.

Example: As I'm writing this, this page of Verizon's site says that a single-line plan that includes unlimited talk, text and 2 GB of data is $75 a month on a two-year contract. But go to Total Wireless, which uses Verizon's network, and you'll find a contract-free plan that includes 2.5 GB of data for just $35 a month.

Same system, same service, half the price.

There can be subtle differences: For example, according to consumer advocate Bob Sullivan, Total Wireless customers get 3G service while Verizon customers get much faster 4G. In addition, the $75 Verizon plan includes a phone.

But if you're with Verizon now, wouldn't you want to switch to the discount carrier when your contract is up and your phone is paid off?

Click here to compare dozens of cell plans in seconds with our free comparison tool

Total Wireless also offers a two-line family plan with unlimited voice and texting and 5 GB of shared data for $60 monthly, as well as a four-line family plan with unlimited voice and texting and 12 GB of shared data for $110 monthly.

As another example, we hear from a cellphone dealer who carries T-Mobile and GoSmartMobile and outlines the differences on a site called HowardForums, a discussion board dedicated to mobile phones with more than 1 million members:

GoSmart ... will work with any T-Mobile or unlocked phone. If you are not concerned with data, they have unlimited talk and text for $25 a month. Unlimited talk, text and data with 1 GB of 3G for $35. ... Unlimited talk, text and data with 6 GB of 3G for $40. On the data plans, once you use up your 3G, it slows to 2G. There is no 4G on GoSmart. If you want 4G you have to stick with T-Mobile.

He recommends finding an independent local phone store with a reputation for good customer service. "Most of them will sell GoSmart and they will be able to help you with anything you need," he says.

So, if you have a contract with one of the Big 4, you might want to compare prices with a discounter and see if changing makes sense.

Better yet, check out the latest addition to our Solutions Center: a comparison tool for cellphone plans. You describe your needs, it searches dozens of plans to show you the best deals.

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GM to Spend $5.4 Billion on U.S. Factories, Add 650 Jobs

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GM Plant Anniversary Texas
LM Otero/AP
By TOM KRISHER

DETROIT -- General Motors (GM) plans to spend $5.4 billion to improve its U.S. factories during the next three years, creating about 650 new jobs.

The company gave details of $783.5 million of the investments Thursday and says the rest will be announced in the coming months.

The investments come as Detroit automakers prepare for contract talks with the United Auto Workers union that will start this summer, and as many automakers including GM are announcing plans to build or expand factories in lower-cost Mexico. GM, like the others, is walking a line between moving more production south of the border and of keeping the union happy with additional investments in the U.S.

GM says it will spend $520 million on equipment for future models at its Delta Township plant near Lansing, Michigan. The company's pre-production center in Warren, Michigan, near Detroit will get $139.5 million for a new body shop and metal stamping equipment. And the metal stamping plant in Pontiac, Michigan, will get $124 million.

Spokesman Bill Grotz wouldn't say if any of the remaining $4.6 million would go to expand GM's Arlington, Texas, plant that makes large SUVs. The plant is running flat-out to meet demand for vehicles such as the Chevrolet Tahoe, which has seen sales rise 33 percent so far this year. Low gas prices have added to a shift in the U.S. market from cars to SUVs.

The investment in the Delta Township, Michigan, factory, which now make GM's large crossover SUVs such as the Buick Enclave, Chevrolet Traverse and GMC Acadia, will go for equipment for unspecified new vehicles to be built there. Grotz wouldn't identify the vehicles or say if they are likely to be SUVs.

The money for GM's pre-production facility at its Warren, Michigan, technical center will help the company build higher-quality vehicles, Grotz said. The facility, which already combines production workers and product engineers to build early versions of new vehicles, will be able to do even more to spot problems early and fix them, Grotz said.

The Pontiac Metal Center investment will allow it to test dies that make body panels under regular production conditions, GM said in a statement. That will allow the company to make quality parts in a shorter amount of time.

"The common thread among our investments is the focus on product improvements that benefit customers," said Cathy Clegg, the company's vice president of manufacturing.

GM says it has spent $16.8 billion on its U.S. facilities since emerging from bankruptcy in June of 2009, creating more than 3,650 new jobs and preserving 20,700 others.

But in December, the company announced plans to invest $5 billion to modernize and expand its four factories in Mexico. In March, the company said it would spend $350 million on its Ramos Arzipe assembly plant so it can build the compact Chevrolet Cruze, which also is made at GM's factory in Lordstown, Ohio, east of Cleveland.

A worker in Mexico costs car companies an average of $8 an hour, including wages and benefits. That compares with $58 in the U.S. for General Motors in the U.S., according to the Center for Automotive Research, an industry think tank in Ann Arbor, Mich.

 

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Buffalo Wild Wings Wants to Be Your Quick Lunch Destination

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Buffalo Wild Wings Grill & Bar Sign
JHP Signs/Alamy
Buffalo Wild Wings (BWLD) isn't having a problem keeping its restaurants busy, but the chain of family-friendly sports bars knows that it could do a better job of drawing in customers earlier in the day. Hoping to appeal to potential patrons on lunch breaks or other hurried customers, Buffalo Wild Wings is introducing the B-Dubs Fast Break lunch program.

Guests arriving between 11 a.m. and 2 p.m. weekdays will be able to order from a limited menu of items that can be prepared quickly. The easy pick is the chain's signature hand-spun chicken wings, but another feature of the Fast Break menu is a "Pick 2" option, where the hungry can combine one of seven entrees with one of seven sides or appetizers.

The whole "Pick 2" option seems to be taking a page out of Panera Bread's (PNRA) playbook, where half sandwiches are paired up with soups and salads. Then again, given Panera's success over the years serving customers during their lunch breaks, it's not a bad page to steal.

Redefining the Sports Bar

Buffalo Wild Wings obviously isn't the first table-service restaurant to introduce a lunch program that emphasizes speed. Most of the leading casual-dining establishments offer or have offered weekday lunch menus with expedited service.

The situation at Buffalo Wild Wings is unique, however, because getting customers in and out quickly is the antithesis of the sports bar model. A sports bar wants customers to stick around to catch most if not all of an entire game. The most popular television marketing campaign for Buffalo Wild Wings was a series of ads in which bartenders were able to extend games to keep the in-house revelry going.

The typical sports bar patrons will keep topping off their beverages, and that's where the real money is to be made. Beer and wine pack high margins and aren't as susceptible to wild price swings as food is. The cost for a pound of chicken wings, for example, has soared roughly 40 percent over the past year.

Then again, Buffalo Wild Wings isn't your typical sports bar. Customers are surrounded by plenty of screens covering live events, sporting news, and rebroadcasts, but it has more in common with a bistro than a watering hole. It's a family-friendly place, for starters, complete with its own menu for children. It also doesn't rely as much on beer and wine sales as its smaller peers.

Alcoholic beverages accounted for just 21 percent of Buffalo Wild Wings' sales last year. That's surprisingly low. In fact, Buffalo Wild Wings sold as much of its traditional and boneless chicken wings last year as it rang up in alcohol.

Drumming Up Business

Buffalo Wild Wings can use the boost in traffic that the new quick-service lunch menu might generate. The stock was slammed Wednesday after the company posted disappointing quarterly results. Sales growth was reasonable, but escalating costs ate into margins, leading Buffalo Wild Wings to fall short on the bottom line for the second quarter in a row. Getting folks in and out in 30 to 40 minutes for lunch may not solve the margin crunch on its own, but good things tend to happen when you drum up incremental business.

Buffalo Wild Wings is ready to speed up the lunch game for those who are in a hurry, which looks like a win-win for both B-Wild and its customers.

Motley Fool contributor Rick Munarriz has no position in any stocks mentioned. The Motley Fool recommends and owns shares of Buffalo Wild Wings and Panera Bread. 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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