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Clark has great news for you on the cell phone front. For years, Clark has talked about how he despises cell phone contracts. Companies basically handcuff people into paying them for years, even if those people are getting lousy service. Sometimes cancellation fees are upwards of $400, so there isn’t anything close to fair in these deals. Clark thinks companies force people into contracts because they’re cowards. They don’t have enough confidence in the product they offer to let consumers decide whether they want to remain customers. Well, one company is finally taking a chance with customers. After Labor Day, Verizon Wireless is going to pro-rate its termination penalty fee. So, if you want to switch companies after a year with Verizon, you’ll pay about half of the termination fee. Verizon is such a powerful company in the cell phone industry that it can get away with this and will most likely cause other companies to do the same. In addition, existing customers and new customers will be treated the same. Typically, phone companies mistreat current customers by clobbering them with fees once you’ve signed a contract. On the other hand, new customers are given the royal treatment. But Verizon says it is going to stop that. In actuality, the only companies that play it straight with people completely are Cricket Communications and Metro PCS. Those companies have no contract at all. Clark would like to see more companies take after these two. But for now, at least Verizon is attempting to do something.

Mercedes is going to bring the Smart Car to the States! Clark has been waiting for this day for years and it’s finally happening. He’s had a longtime fascination with the Smart Car because of its size and efficiency. It’s half the size of a normal compact car but it averages 60 miles per gallon. Also, you might think because of its size the Smart Car would be a death trap on wheels. But they are built on a steel cage and made as safe as possible. As a country, we have a challenge in terms of what we drive and how much fuel we use. Americans make up about 4 percent of the world’s population, but we use a quarter of the world’s energy. We need to start driving smarter cars to reduce that energy use and, in turn, our dependence on fuel from countries that want to harm us. People can get Smart Cars right now from Zap Cars. But they’ll probably be available at dealerships in late 2006. Look for them then.

Clark remembers talking about all of the complaint sites that had come out on the market several years ago. No one site was thought of as the best, but they all have helped improve customer service. Now, there is a new way to literally show people poor customer service. It’s called “YouTube,” and it allows consumers to post any kind of video they want on the Web. One man recently videotaped the Comcast cable representative who fell asleep in his house while on a service call. The site is youtube.com, and it’s made it possible to truly expose poor customer service. Anytime a company fails to treat people fairly, those consumers can really hurt the company. Another example involves AOL and the difficulty people have canceling the service. One man recorded his conversation with a customer service representative who browbeat and verbally attacked him for trying to cancel. It’s no longer possible for companies to hide how they treat people.

Clark often talks about investment companies and when he passes on their contact information, he often gives their Web sites only. Here are phone numbers for the three main companies he refers to:
• Vanguard - 1-800-VANGUARD or 1-800-826-4827
• Fidelity - 1-800-FIDELITY or 1-800-343-3548
• T. Rowe Price - 1-800-225-5132

You’ve probably heard about the Capital One lawsuits going on. Clark has talked about the system Capital One has to damage your credit. Well, now Capital One has stubbornly refused to modify its position. What happens is Capital One does not report the credit limit on your card. Why? It lowers your credit score and therefore destroys your credit image with other potential credit card companies. So, you’re more likely not to get approved for another card and will continue to use the Capital One card. By not reporting your limit, the credit bureaus guess your limit and that makes you very risky. Now a new lawsuit has been filed against the credit bureaus for reporting erroneous information on our reports. TransUnion, Equifax and Experian have some responsibility here, for sure. But it would be simple if Capital One just behaved itself. Clark has given Capital One the chance to come on air and talk about this, but they haven’t responded. So, you have to decide if you want to be their customer. If you’re currently a customer and you want to stay with them, you should charge a bunch of stuff to the card and pay it off. Then, moving forward, the credit bureaus will see and use that credit limit, sending your score back up. Clark will keep trying to come up with ways to manipulate the system, but for now that’s the only way you can turn the situation around.

What rights do you have when you buy a car? Many people make the wrong assumption that they have three days to return a car. It’s not true. In California, there is a new “Car Buyer’s Bill of Rights,” but it’s pretty watered down after the car dealerships got involved. So what does it allow you to do? You can buy a “grace period” when you purchase the car, if you decide you want to return the car for some reason. Another tenet is that a “certified” car has to meet certain criteria. People pay a lot more money for “certified” cars, even though they may not be in any better condition. Except in California, it’s still buyer beware around the country. Thirdly, if you finance a car at a dealership, the dealer marks up the loan a bit more. That’s standard procedure. But if you go to a credit union, you will get much lower rates than banks and especially at the dealership. If the California law does anything for people across the country, it is to remember “Buyer Beware.” In most states, once you sign the paperwork on a car, you own it. There is one exception and that is CarMax, which offers a right to return for a set number of days. If you take these steps and thoroughly price shop, you will avoid a lot of hassle and trouble.

Clark likes to keep you up to date about deals and offers out there to save you money. He wants to you be cautious when using them, but it’s his job to let you know. The latest invention is called Jellyfish.com. It’s a comparison shopping site like the others, but Jellyfish also gives you a direct discount off your purchase. Usually it’s about two percent. But what you need to remember is that no site will always have the best deal. You always want to shop around. It’s just one more tool Clark wants you to know about.

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In more retail news, how do you like filing rebates? No one does. But some companies are making it easier for you. Costco and Staples are two of the leaders in the rebate industry because they make it so easy to do. Best Buy has also started giving instant rebates instead of making people fill out paperwork after the sale. Well, now Office Max is going to do the same. So, it’s a step in the right direction and Clark hopes more companies follow suit.