• No boss
• No fixed hours.
• No driving to work if you work from home.
• Wide variety of assignments.
• Possibility of establishing a good network of clients.

• No fixed salary.
• No regular cash flow.
• You have to deal with the income tax department.
• You will  have to organize your own health insurance
• You can only earn as much as you can work.
• No bonuses, holiday pay or other perks.
• The loneliness of the freelance worker.
• I find myself in front of the computer at 3am.

1. You cannot legislate the poor into prosperity, by legislating the wealth out of prosperity.

2. What one person receives without working for, another person must work for without receiving.

3. The government cannot give to anybody, anything that the government does not first take from somebody else.

4. You cannot multiply wealth by dividing it!

5. When half of the people get the idea that they do not have to work because the other half is going to take care of them, and when the other half gets the idea that it does no good to work, because somebody else is going to get what they work for, that is the beginning of the end of any nation.

Your huge earnings won’t go on forever

It seems almost impossible that an athlete making $5 million, $10 million, or, in the case of Derrick Coleman, $90 million over a career could lose all of his money. Of course, many a now-bankrupt athlete also thought it impossible.

Their salaries

"They see their salaries as never ending, like they can’t spend it all," says accountant Scott Bercu, who handles the finances of professional baseball and basketball players. "But, if you make $5 million a year, by the time you get done paying your agent and taxes, you have $2 million left to spend. That goes very quickly."

Kenny Anderson

Among Bercu’s clients is Kenny Anderson, the former point guard who earned more than $60 million during his 14 years playing in the NBA, yet declared bankruptcy the year his career ended. Anderson once joked to The New York Times that an NBA labor dispute would force him to part with one of his eight cars. In truth, says Bercu, Anderson knew his spending couldn’t be sustained. The player and his accountant were planning for bankruptcy years before it became official.

Can’t stop spending

Most very wealthy people, be they CEOs, entrepreneurs or financial professionals, deal with finances as a major component of their jobs. But athletes and other entertainers can acquire great wealth without having a clue about money. Athletes are often unschooled, and have never had to strategize how to pay for an education because they were on scholarship. The leagues are aware of the financial illiteracy among many players, and therefore conduct financial seminars for all rookies.

‘Don’t Understand’ Money

Ed Butowsky, the managing partner of Chapwood Capital Investment Management, applauds the major sports leagues for good intentions, but says that in the minds of many pro-athletes, finances remain "an issue they don’t understand, and it’s not communicated right." Butowsky advises NBA all-star Kevin Durant, 15-year baseball veteran Torii Hunter and scores of other guys who score for a living. His words are a bit different from most everything these players will hear. Everyone tells the athletes, "Be smart, don’t overspend, invest." But Butowsky says the stars of the sporting world model their behavior on stars of the business world. "What these athletes do," Butowsky says, "is look at the front row and want to be the front-row guys."

Front-row guys

The problem with "front-row guys" is that they’ve often made their money through concentration in a single field. Butowsky advises that illiquid private assets should make up no more than 5 percent of an athlete’s portfolio, once $3 million is already in the bank. In fact, Butowsky says Magic Johnson, with his business empire of movie theaters, restaurants and coffeehouses, is actually an example of how not to build a portfolio, despite Johnson’s great success.

Educating athletes

In order to educate athletes, Butowsky conducts boot camps for any player who wants to attend, where he gives out special calculators that demonstrate when a free-spending athlete will run out of money. Butowsky’s cause happens to be a group of the most envied wealthy people on the planet. But Butowsky’s point is that too often they aren’t wealthy for long.

I’m sure I have an Old Master hanging on my wall.

Will they come and look at it?
How do I get hold of Sotheby’s and Christies? Will they come out and inspect the painting or do I have to take it to them?

It would be a dream
This could be as good as a Lotto win. Can you imagine living with a piece of art that you never even glance at as you pass it a thousand times a day and it suddenly turns out to be something of great value? Is it possible that the old painting that’s been hanging on my study wall since grandpa died in 1957 could really be worth great globs of money? The lovable old guy knew exactly what he was doing. He probably bought it from the artist himself back in the early 1900’s when grandpa started making his first money and wanted to help the starving artist.

We all do it
I’m not the only one taking a new look at the things I live with. We all go through life picking up pieces we fancy, or that we think will go well with the curtains, or some of us with an eye to the future. We live with them and most of us probably leave without doing anything about them. The more I look at the picture the more I am convinced I should call in an art expert. Of course, the painting may turn out to be someone’s third lesson at art school, but who knows?

So why not me?
My financial situation is not good and I am taking second looks at anything that may mean money. I wouldn’t have the nerve to try and put up some of my own paintings, I means the ones I painted, as collateral against the loan. But I am not hesitating about walking from room to room peering at everything that’s hanging on the walls and the pieces on the coffee tables. I read that an increasing number of art owners are realizing that an Old Master or a prime photograph, when used as collateral, can bring in much-needed cash.

After all these years
Imagine what a nice surprise this would be if my suspicions about the artist are right – a windfall that’s been hanging on the wall for over 50 years!

I take a Payday Loan to raise the money for his birthday gift

My son is thrilled
“Thanks, Mom and Dad! What a great gift. I’m off to the Apple shop downtown right now!” Then we received more messages: Hundreds of customers lined up outside Apple stores in Australia and New Zealand on Friday for the international launch of the iPad 2, which has flown off the shelves in the U.S. leaving the company struggling to meet demand. “But managed to see the iPad 2, a thinner and faster version that features two cameras for video chat,” said my son, after his first visit to the Apple store.

The kick-off
The next message read: “Sales kicked off at 08:00. Apple staff were dressed in the company’s blue branded shirts and handed out trays of sandwiches to those in the queue, some of whom had bedded down on blankets overnight before being awoken by bright sunshine. The retail price in Australia starts at $568, against $499 in the United States.

Huge numbers
The first iPad, which went on sale a year ago, sold 500,000 units in the first week and crossed the 1 million unit mark in 28 days. Nearly 15 million iPads were sold in nine months of 2010, two or three times as many as analysts had predicted. Apple Chief Executive Steve Jobs said on Tuesday the company was “working hard to build enough iPads for everyone.” Fiona Martin, a spokeswoman for Apple in Australia, declined to comment on whether there was enough stock to meet demand. “We don’t comment on speculation, we’ve got plenty down there for all those folk that are in the queue.”

He got one
After a chaotic morning, my son returned home with his new toy. I will buy one for myself next month using another Payday Loan and we will be able to use them to connect with each other no matter where we are. We will even be able to see each other and the grandchildren.

One small problem
Several key components in the new version of Apple’s popular iPad come from Japan, including the battery and the flash memory used to store music and video on the device, according to IT research house iSuppli. Analysts say it’s too early to gauge the extent of component supply shortages, while the wait time on delivery of online orders has shortened to 3-4 weeks in recent days from as high as 6-7 weeks, suggesting component shortages have not reached critical levels.

I can wait
If there is a supply problem because of the shortage of parts from Japan, that’s okay by me. I’ll wait. A Payday Loan from AdvanceLoan.net is always available and they will be there for me whenever I decide to buy my iPad 2.
Payday Loan, AdvanceLoan.net, iPad 2, Birthday

Sure, just fill out this form

On and on
And so it went, or rather, it still goes, on and on. The doctor, the lab and the hospital have infinite patience while I fume at this unwanted interruption of my daily life. One day in the doctor’s office, the nurse hands me a rough estimate of the bill that I am running up. I look at it and gasp. The bill does not include the parking and the spiraling cost of the gas that I’m consuming between doctor’s office, hospital and test labs. I seem to find myself in front of the ATM every second day.

The doctor’s bill
The doctor’s bill itself is a shock. I don’t have the ready cash to pay an amount like that. So at my next appointment which is to review the latest test results, I try and turn the matter into a joke: “Hey, Doc, about your account. Can I get a loan from you?” To my utter amazement I don’t get some acid reply and he simply says, “Maybe. Speak to my nurse on the way out.” She doesn’t flinch when I ask her and hands me a form to fill out.

Bank partnerships
It seems that many doctors are now partnering with banks and other finance companies to offer loans to their patients to help them pay their medical bills. The thing is, while taking a loan from the doctor may be convenient, it’s often not a very good choice from an economic standpoint.

Other options
If you are among those who find themselves facing a huge amount of debt from the doctor’s office or from a hospital, you may want to consider other options instead of a medical loan from the doctor’s office. If your credit is good for example, you may be able to get a personal loan from the bank at a lower interest rate. Paying on your credit card if you happen to have a good credit card rate is also a possibility.

Try to Get a Payment Plan
Consider trying to get a payment plan instead of taking out a medical loan. Most doctors and hospitals will be happy to work out an interest free payment plan for you as long as you can pay off the money within a reasonable period of time. You may have to be a bit pushy about it though, especially if the doctor’s office has a deal to offer a medical loan with a company that underwrites them. Standing your ground however will ensure that you’ll get the deal you need rather than the one the doctor’s office wants.

Now Skype is on the money warpath

The iPad
The thing with the iPad is the enormous potential it has. Not only does it do a whole slew of computer things that we now expect from every electronic gadget that can connect to the internet, the iPad has the ability to convert itself to many other uses, mostly specialized fields. I even went so far as to offer to purchase a cooking recipe add-on and let my wife take it into the kitchen.

No limit
There is no limit to the add-ons, in fact I would say the limit is that of the human brain. I am sure that there are already medical add-ons that will aid a surgeon in an operating theater, or chemical add-ons that will assist in lab work. Apple , of course, understood the that the toy they were developing had thousands of other applications so they developed “Apps”, the add-ons which they are now marketing. Many are free but most one has to pay for, from nominal small amounts to larger sums if you purchase a serious program to add to your iPad.

Using it
I am not a computer freak and at the slightest sign of a glitch in my desktop computer which I use for writing, I call Bernie, my PC Doctor who comes immediately and puts things right. In the shop where I bought the iPad I asked the young salesman if there was a manual in the box and he simply smiled. In fact there were 3 pieces of small paper and nothing else. It took me a few hours to figure out how to switch it on and after 2 days I can zoom around like my grandson does on his iPod. I am still a trifle slower…

Skype
Today’s announcement says: FaceTime software, which comes with iPhones, works only with Wi-Fi. The app, which is being released Thursday through Apple Inc.’s iTunes Store, will let iPhone 4 and iPhone 3GS users make free video calls to other Skype users who are using the app or have access to the feature using Skype on their computer or other video phone. Those with the latest iPod Touch will be able to make video calls over Wi-Fi. The app allows the iPad and previous-generation iPod Touch to receive video calls, too, Skype said.

Me
I will install it today. Bet you my wife will be happy….

Too many people are spending too much money

Tips
There are constant tips on how to curb spending, in the papers, on the TV and in countless articles. Schwartz declined to add his own ideas to the ‘tips’ file. “Newspapers publish the same tips year in and year out. It’s not tips that will change the situation; it’s self-control.”

The plan
Here’s a simple plan to get you out of debt:
Phase one, get out of debt.
Phase two, build wealth.
It’s too easy, right? The problem is there’s a big difference between knowing what you have to do and pulling it off when you get to the mall.

No one to blame
Ultimately, personal debt is the responsibility of each individual. Governments can encourage us to save for retirement through various plans and tax free savings accounts, but these tax-driven programs put the cart before the horse. Building wealth for retirement can’t really begin until you get out of debt: first by eliminating high-interest credit card debt, and ultimately by reducing mortgage debt.

The tower of wealth
“You can’t ascend the tower of wealth while you are knee-deep in debt in the basement,” is how one character put it in a book about financial independence: “Findependence Day”. What we need is “guerrilla frugality” to combat the powerful advertising messages urging us to spend and consume. You must view all personal economic decisions as a form of guerrilla warfare.

Frugality
Frugality has become trendy since the Crash of 2008 and subsequent economic downturn: On Twitter, I see hundreds of feeds and financial blogs devoted to frugality and penny-pinching, most of them created since the founding of the micro-blogging service four years ago.

Need or want?
One has to learn to differentiate between things you want and things you need. And of course, homeowners should pay off their credit cards in full at the end of each month. One of the biggest debt lures is the temptation to pay only the “minimum monthly payment” on credit cards. That is where madness or insolvency lies.

Interest
The power of compound interest can be either your enemy or your friend, depending if you’re in debt or have savings. Either way, the compounding effect is magnified as rates rise. As anyone who owes on their credit cards or back taxes knows, compounding debt is a bad thing that only gets worse. The good news, if you’re a saver or investor, is that once in the black instead of the red, compound interest works in your favor instead of against you. Just think about receiving interest instead of paying it out…

Lottery News: The Good and the Bad

The good: $183 million won in Euromillions jackpot. The Bad: Lottery winners who lost their millions

What would you do if you won the lottery? Leave the dream for a moment and focus on the reality. Let’s say your win is of the order of $100 million. New house, new car, gifts to your children, a few nice investments, tell your boss to go jump in the lake. Good. Now what? Huge amounts of cash can compound problems for some people.

The bad stories: Foolishness, Hit men, Greedy relatives and Dashed dreams.

“Winning the lottery isn’t always what it’s cracked up to be,” says Evelyn Adams, who won the New Jersey lottery twice (1985, 1986), to the tune of $5.4 million. Today the money is gone and Adams lives in a trailer. Another winner, of $16.2 million in the Pennsylvania lottery in 1988, lost the money in a business venture and fell out with his siblings, and today lives on his Social Security. Suzanne Mullins won $4.2 million in the Virginia lottery in 1993. Now she’s deeply in debt to a company that lent her money using the winnings as collateral. She borrowed $197,746.15, which she agreed to pay back with her yearly checks from the Virginia lottery through 2006. When the rules changed allowing her to collect her winnings in a lump sum, she cashed in the remaining amount, but stopped making payments on the loan.

This week’s good story

The news is that an unknown British player hit the Euromillions lottery jackpot on Friday night for the biggest single lottery win in UK history at $183 million. A spokeswoman for the Camelot Group, which operates the UK National Lottery, said the winner or winners have not yet come forward to claim the prize. The odds of winning the money were just over 76 million to one.

Not the biggest

This is not the largest ever Euromillions win; a young Spanish woman holds that record from a hit in May this year. And in the United States, in 2007 two tickets split a $390 million payout from Mega Millions, although unlike the UK, lottery prize money is taxable in America. The previous record for Britain’s biggest lottery win was $130 million.

How to win

There are websites on the internet which offer advice on how to win the Lotto. Read on.

Cash in on the luck of others

When you form a Lotto pool, your group is also pooling its aggregate luck. A jackpot could happen because of the luck just one member brings to your pool. Select your partners carefully. Share your luck with winners, not losers. Avoid negative people. Not only are they unlucky, but they dampen enthusiasm and drain energy via others. You want to enhance your own luck, not dilute its strength. One quick way to tell winners between losers is simply to ask them: “Do you think you are a lucky person?” Many people quickly admit, “I’m unlucky. I never win anything.” They won’t bring good luck to your group either.

Good luck!

What is old age asks the tax department

I’ll go myself
“Go,” he said. “You need to see Mr. Johnson on the third floor.” Johnson was busy on his cell phone when I found his office. He was advising his daughter about the color of the new car she was about to receive from her employer. I stood tapping my fingers on the door frame as he wavered between silver and metallic blue. Finally he closed his phone, looked up and said rudely, “Yes? What do you want?”

I lose it
I lost it. I stormed into his office and hit his table with my open hand and shouted, “Why am I paying so much tax?” He shouted back, “What do you mean?”
“I’m 74 years old and look at my tax bill! Do I have to work like this to the end?” He thought for moment and said, “I don’t know if you have to work like that to the end.” He shook a fat finger at me and added, “but you’ll pay tax to the end.” We both laughed and relaxed and I have to say that he did all he could to help me, but the law is the law and age apparently does not count with taxes.

I place an ad and get a writing job
The client demanded an invoice. I did all the tax necessities, opened the tax file and VAT file and ordered invoice books from a printer. I received a call from my previous employer asking me to do some odd work for him. Then an even more previous employer called up and offered me work. One day someone called and asked if I would inspect a house he was considering buying. The trickle of minor engineering work and writing work settled down into a steady flow. I found that the busier I was the more I did; not only work related tasks, but many personal and family matters that I had neglected were now being attended to.

Clients
I have added other clients to my small writing business and now there is something to do on most days. There are few deadlines, the work is not overly demanding and I am not computer-bound 8 hours a day. There is still time for grandchildren and other delights. And most importantly, I devote a great deal of time to being a senior and being retired. As for the taxman, my wise grandfather used to say that paying tax is a good sign. I agree; but Grandpa, forty percent?

You are about to spend major money

Make a shopping list
What you need to do is to draw up “shopping lists” of those features that are important to you and which you would like to have in the home. Price will most certainly be the biggest determining factor in buying a home, but a list of ‘wants and needs’ will help to narrow down the choice of properties and give buyers a solid idea of their search parameters.

Preferences
Start by listing your main preferences such as location, access to schools, if relevant, amenities and security. There are a few additional aspects to take into consideration. The size of the plot is a good place to start. Children need a fair amount of space to run around and play. Whether freestanding or part of a secure estate, a home with adequate garden space would be best for a family as opposed to an apartment complex.

The house itself
When it comes to the house itself, aside from enough bedrooms, buyers should also ensure that other aspects such as living areas, storage space and bathroom facilities will meet their needs. Another aspect to consider when buying a family home is how the potential property caters to your lifestyle. Does it have an ideal outdoor entertainment area? Does the design of the kitchen or the presence of a dining room encourage eating together at meal times? Is there a large enough indoor play area for your children where their toys can be stored? Is there a separate lounge area where adult members of the family can relax?

The house hunting process
The house-hunting process may take a little longer if you are specific about your requirements, but considering that buying a home is the biggest investment of your lifetime, it is worth making sure you buy a home that closely matches your wants and needs.

Check everything
Once you have found the house of your dreams it’s time to call in an engineer or surveyor to have the house inspected for structural defects. This will cost but it is worth every penny. Make sure you get a written report which covers all the aspects of the building and the services as well.

The mortgage
Then it’s off to the mortgage bank to tie up the money side. This will be a long involved process where you will have to bare yourself to the mortgage man. He will ask a thousand questions about you, your job and your lifestyle. Get through this stage successfully and all that’s left is moving in!

The price of laptops keeps dropping

My laptop
I have an oldish laptop – actually a date pops up every time I boot up saying “2005”. I guess 5 years puts it into the obsolete throw-away class of laptop. Around me I see the most amazing selection of laptops ranging from old steam-driven matt-black computers to small modern color laptops finished in a variety of wild colors. And they are small and easy to carry, unlike mine which hangs off my shoulder like a millstone.

It’s time to upgrade
The more of these new up-to-date laptops I see, they more I am convinced that I should change mine for the latest model. After all, I am a professional writer and I often go out on writing jobs taking my laptop with me so that I can send in my article direct from the site of the action. The new laptop will be lighter to carry, easier to operate and as fast as lighting. Unfortunately I will still only be able to type at a speed of about 15 miles per hour. After inspecting the selection of laptops in the hotel lobby, I am more convinced than ever that it’s time to upgrade.

A tour of the computer shops
Now the question of money comes into the equation. My accountant laughs at me and says I wrote your old laptop off over 3 years, in other words it has no value any more. Go ahead and buy a new one! I head for Office Depot. They are waiting for me with a huge selection of the latest and the smallest. I stroll down the aisles looking and trying to get a feel of things. Will my thick fingers be able to operate the tiny keys on that keyboard? Will my old eyes be able to read the 12 point font on that small screen? Will I be able to operate that convoluted looking laptop at all?

Difficult decision
This is a much more complicated decision than I had expected. Perhaps I should leave it for another year and then see what’s available.

The dilemma
Now I am in the midst if a real-life dilemma. I would like to save the cost of the TV, especially the hundreds of channels I never look at but which I have to pay for because the TV supplier is clever at packaging what he sells. I could quite easily upgrade my computer to a larger screen at minimal cost and watch whatever I like in front of the computer. Problem is, I have to sit in this uncomfortable office chair which I suspect has already ruined my back.

Experimenting
With the increasing selection of high-quality TV fare coming online, more people are experimenting with ditching their cable and satellite TV subscriptions for online options such as Hulu, Netflix, broadcaster Websites, or Apple’s iTunes. The numbers are still small, but last year an estimated 800,000 U.S. households cut the cable cord altogether, according to a new report by the Convergence Consulting Group. By the end of next year, that number is forecast to double to 1.6 million.

Online help?
As more and more viewing options become available online, more people will add Web viewing as part of their mix. For instance, in my home we don’t have a TV in the kitchen, but we keep a laptop there. Last night, my wife watched a full episode of Jamie Oliver’s Food Revolution on Hulu while she was cooking (dinner was great with Jamie’s online coaching). The online viewership for the Masters on CBSSports doubled this year to 1.3 million people who watched a total of about an hour each of golf online. When any screen can be a TV, people will watch the one that is closest. And the easier it becomes to connect your computer to your flat screen TV, the more the online video sites and services will become just another set of channels.

The Web is cheaper
Clearly the Web will always be cheaper. It is a question of convenience versus cost. Are we headed for another showdown between the different suppliers? The web is not a serious threat to the $84 billion cable/satellite/telco TV access industry, which counts an estimated 101 million subscribers, but a major shift to the web could cause problems.

Apple TV?
Although Apple (AAPL) is making noises about making Apple TV more than just a hobby and doubled the number of TV shows available for download last year, Convergence estimates only 100 million episodes were downloaded last year, up from 90 million in 2008.

We spent the evening at Susan’s 70th birthday party on Saturday evening. It was a modest affair in the local church hall with 60 or 70 guests – and lots of good finger-food. Had we known about the food part we wouldn’t have eaten dinner; I can snack on smoked salmon for hours… Susan looked well and spent the evening chatting to her guests. She also gave a very emotional speech of thanks to everyone.

The economics of a Recession Party

Susan doesn’t have a bean to her name and I’m sure she took a Cash Advance to pay for the bash. The hall was probably free and there were no other expenses. The drinks were Coke and Sprite and the single bottle of scotch remained unopened. Plates were plastic in colors selected to match the paper table-cloths and napkins and the flatware was chromed plastic. Despite the obvious strict budget arrangements, the tables looked great. They were decorated with little vases of wild flowers and grasses picked from a nearby field and sprinkled with little silver plastic sea shells, candies and chocolates.

It must have been a challenge

When Susan decided to celebrate she must have thought everything out very carefully and built herself a tight budget. In circumstances like hers, a budget is a major part of her life. What’s more, she understands the strict discipline that’s necessary to stick to every cent of her budget. Extras and deviations don’t exist!

Susan

Susan is a widow – twice. Her first husband collapsed and died in his forties and left her with two teenaged children. The second husband, an older man, died when Susan was in her mid-fifties. Neither left her much and she has worked all her life. A few years ago she was laid off her job as a secretary and she ran around frantically seeking work. These days she works part-time at a school who hire her as a temp without any social welfare benefits.

The birthday gifts

One of Susan’s friends asked her if there was anything particular she preferred for a birthday present and Susan said she would prefer money as she had some expenses that she has to pay. The word was passed around, I was asked to do a small painting for a communal birthday card and the guests were asked to sign the card and drop their gifts in an envelope which was handed to Susan. I was pleasantly surprised at how smoothly the act of handing over a cash gift was handled – there was no embarrassment on either side and the guests seemed delighted to be able to help Susan. Susan thanked everyone for coming to help her celebrate this important milestone in her life and we went back to the food.

Good party

My wife and I rated this as a good party, truly modest and enjoyed by all. Happy birthday, Susan!

But no one thought the building would fall down

Hisham’s palace
Outside Jericho an ancient king called Hisham built himself a grand palace way back in the 740’s. The complex covered an area of 150 acres, a palace of grand proportions. By all accounts there was great excitement over the new building and the king and his entourage prepared to move in when the area was hit by an earthquake. The palace was flattened and the ruins can be visited today. You have to buy a ticket to look at them.

Our hi-tech world
Why do I have the feeling that we are at risk today as we were back then? With all the knowledge and technical ability that man has at his fingertips, he still has little or no control over nature. When nature throws us a fast ball, all we can do is duck or run. There is no way we can divert the coming tragedy. We have no control over the weather and natural disasters such as hurricanes, we have no control over floods and we have no control over earthquakes, volcanoes and their deadly offspring, the tsunamis.

Contractors
We do have control over building contractors and we should go to great lengths to make sure that we get what we pay for. There is no point in selecting a great engineer to design a structure that will stand for 100 years and then handing the plans to a contractor and leaving him to do the work. We need to check that the steel goes into the concrete, that the right amount of cement goes into the concrete and that the structural steel is the correct type.

Engineering
Traditionally a structure had only two main purposes: a) to support itself and b) not to blow over in the wind. Earthquake forces are sideways so if the columns and other vertical elements of a building are not built as they were designed by the engineer, they will snap when hit from the side.

Death and injury
The amount of death, injury and destruction in an earthquake is staggering. To make things worse, the last few major earthquakes have occurred in poor areas and often in cold weather to add to the human misery. We have to learn better to protect ourselves…

Cash Advance Loans Payday Advance

This one is the sponsored by AOL and other Intern

The online price war
The prize in this fight is the price war that is spreading through the enormous shopping areas of books, movies, toys and electronics.

‘Tis the coming Christmas season
The shopping competition began last month as a highly public back-and-forth over which company had the lowest prices on the most-anticipated new books and DVDs this autumn. By last week, it had spread to select video game consoles, mobile phones, even to the humble Easy-Bake Oven, a 45-year-old toy from Hasbro. A week ago, Wal-Mart dropped the price of the oven to $17, from $28. Later the same day, Amazon cut its price, which had also been $28, to $18 in response.

The Walmart strategy
According to Fiona Dias of GSI Commerce, which manages Web sites of large retailers, there is a bigger battle being fought. “The price-sniping by Wal-Mart is part of a greater strategic plan. They are just not going to cede their business to Amazon.” Wal-Mart and Amazon are very different companies. Wal-Mart, with $405 billion in sales last year, dominates by offering affordable prices in its 4,000 stores. Amazon has a puny $20 billion in sales, mostly from affluent urbanites. The fight is about the future. Rapid expansion by both companies, as well as major shifts in the high-tech landscape now makes direct confrontation inevitable.

Online shopping
With all the fuss going on, online shopping accounts for only around 4 percent of retail sales, but volumes are growing quickly. E-commerce did not suffer as deeply as regular retailing during the economic malaise, and it is recovering faster than in-store shopping. Amazon, based in Seattle, has harnessed all of these trends and is also behaving more like a traditional retailer. This autumn it expanded its white-labeling program, putting the Amazon brand on audio and video cables and other products, and introduced same-day shipping in seven cities.

The turn around
Amazon is expanding its slice of the retailing pie at an alarming rate. In the third quarter of this year, regular retail sales dipped by about 4 percent and e-commerce was flat. But Amazon’s sales shot up 24 percent, sending its shares soaring. More important, sales in Amazon’s electronics and general merchandise business, which competes directly with much of the selection in Wal-Mart stores, were up 44 percent. Wal-Mart does not break out Web sales, but it has been reported that its online business has revenue of several billion dollars.

The customer wins
The battle began with the companies cutting prices on books to below $9. The companies then began jousting over the prices of DVDs. Wal-Mart offered a $15 gift card with a purchase of the new video game Call of Duty: Modern Warfare 2, and Amazon matched. The customer will win in this fight.