Clark has defended Wal-Mart for years, despite the fact that many people don't like the massive company it has become. He’s always believed that by making things more affordable for everyone, Wal-Mart has kept inflation from increasing more and has helped the economy. But Clark is not very happy with Wal-Mart today. The company wants to build a new distribution center in Florida, according to the Orlando Sentinel. That wouldn’t be such a bad thing, but the company is trying to get families to sell off their land so the state can build roads leading to the center. The Sentinel reports that Wal-Mart has been out threatening people to sell their land for the money they are offering or suffer the consequences. If people refuse, Wal-Mart plans to use its government power to make move them anyway and give them a tiny fraction of what they would have gotten. If the story is true, there is no reason for one of the largest companies to behave like a bully. Clark is appalled at this and hopes Wal-Mart realizes it is in the wrong.
For the first time in years, summer jobs are easier to find this year. That’s great news for young people in high school or college. So, why is it happening? Well, first of all, the job market is stronger. Secondly, although it doesn’t feel like it, the economy is stronger. And these jobs are paying higher than minimum wage. In addition, companies are offering more paid internships for young people in various years of school. Now the job may not be that interesting. But that doesn’t matter; getting your foot in the door is key. You can look around for jobs you want later. Statistics show that about 40 percent of people who worked as an intern at a company go to work for that company after graduation.
Bill collectors come in all shapes and sizes. Some play it straight up and follow the law. Others don’t follow the law at all and the number of rogue collectors is growing out of control. The Federal Trade Commission reports that its No. 1 complaint is about scavenger bill collectors, also known as “zombie collectors.” The tactics they use are shocking, according to the Fort Lauderdale Sun Sentinel. For instance, you get a letter or call out of nowhere for a bill that was never yours. The person may have the same or a similar name, but it’s a different person. These collectors try to browbeat the money out of the wrong people by filing suit against them. If those people don’t respond to the court and defend themselves, a judgment is entered and the debt is passed on to them. Yes, even though the debt was never yours, it legally becomes yours. That’s why you have to protect yourself. The only way to preserve your rights under the Fair Debt Collection Practices Act is to mail a certified letter with proof that it’s not yours. You want to keep a copy of the letter in case they come back later and try to pin it on you. If you don’t, the debt will sit there and it could prevent you from closing on a home in the future. If you don’t act, a lie becomes the truth.
Clark has been a big fan of high-speed wireless Internet in cities because it’s a way of breaking up the monopoly companies that offer high-speed Internet. Typically, it’s been only cable and phone companies offering this service. But now there is a third option. One company, Clearwire, is about $20 a month and it requires no installation. It works via satellite signal and it’s cheap. Clearwire has been operating quietly and hasn’t been making big waves. But Motorola and Intel are putting about $1 billion into Clearwire to increase the number of markets in which it’s offered. This is great news! Capitalism responds to fear, and fear is a great motivator. So, now that there is a third competitor, it’s going to shake things up. (Editor's note: Some users have reported negative experiences with Clearwire.)
Clark admits that he’s willing to accept lower quality for a cheaper price. As a result, people often tell him that he’ll “get what he pays for.” But isn’t it great when you pay a lower price AND you get a better product or service. It happens right now in the airline industry. Several studies from academic institutions and private firms show that people get better service from the discount airlines. According to J.D. Power & Associates, JetBlue was head and shoulders above any other airline. Close behind were Southwest, AirTran and Frontier. Then, the gap behind Frontier and the full-fare airlines was huge. Continental was the only one anywhere close to the discount airlines. What were the airlines evaluated on? Scheduling, check-in and in-flight amenities were a few of the categories. Airline fares was not one of the categories. So, despite the low rates, the discount airlines were better overall. Employees at Southwest make more money than those at the full fare airlines, which speaks to the management. When there is good profit and good morale, it’s usually because of small, efficient management. Clearly, the full-fare airlines need to catch a clue on how to run a business.
Clark often gets calls from people who have never established credit and need to know how to do it. It’s changed over the years, starting with secured credit cards and transition periods. Now, there is another way to establish credit through General Electric. That’s right. In addition to making appliances and jet engines, GE is also a huge lender. The company does a lot of store credit programs and plans, including Wal-Mart, J.C. Penney and Circuit City. GE has factored in the risk of default on these cards, and even calls people who apply to offer a little consumer education before they start using the cards. The program is called, “The Road to Credit,” and it’s available at seven different retailers. Clark wasn’t able to find the list of all seven, but ask about it when you’re in one of the stores we mentioned. It’s a great way to get started and establish credit.
