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Bad News On Credit Card Payments

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Right at the end of January, USA Today published an article that talked about how consumers were paying less money each month towards their credit card balances. This is bad news. On the one hand it’s good to know that consumers are making their monthly payments, but on the other hand it’s horrible to hear that people are sticking closer to the monthly minimums than has historically been true.

Credit cards are great tools to help build a credit history, but they have to be used properly or they can demolish a person’s financial status. Anyone who knows how to use money to their advantage can tell you that not all debt is bad debt. Sometimes a person can use debt to their advantage (for example, the right types of student loans and home mortgages). Consumer debt, though, is a different story.

The right types of student loans and home mortgages are investments in the long-term future of you and/or your family. Consumer debt, though, is more of an investment in the here and now – this is why it should be used sparingly. Sure, everyone falls victim to the use of consumer debt to meet their immediate wants. Hey, I spent a great deal of money buying a television last month just because I wanted it! Well, the old television was broken, too, but that’s a different story. That said, though, I do not believe that people should avoid credit cards. I think each person should have one or possibly two credit cards, but no more. I keep one to both maintain a good credit history and just in case I need access to a large dollar amount quickly (since I don’t keep much cash in my checking accounts – the money stays socked away in the savings and investment accounts).

In any event, I thought the USA Today article was pretty good and wanted to share. Enjoy!

More Information on Long Branch’s Redevelopment

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This week’s Atlanticville ran a story talking about one of the remaining holdouts in the Long Branch Broadway Arts redevelopment project. What I found upsetting about the article (and thus my impetus to write this post) is what the Atlanticville either forgot or chose not to add in this article. From the article:

A city minister will have until July to find a new place to call home and a new building where he can practice his ministry.

State Superior Court Judge Lawrence M. Lawson denied Broadway resident Kevin Brown a stay of the city’s use of eminent domain to take the building where he lives to make way for the Broadway redevelopment project.

Brown has also been trying to establish a place of worship in the building at 162 Broadway for more than a decade. The building is owned by The Lighthouse Mission and is located in the Broadway Corridor redevelopment zone.

This little blurb provides a decent background on the situation in Long Branch. And what an outrage it seems, right? Here is a Pastor who is trying to establish a place of worship for his congregation and attem — wait. There IS a congregation that is being displaced, right? Back to the article…

Brown has been battling the city for more than 10 years to open the Lighthouse Mission Church at the Broadway location.

So there isn’t an actual mission located at this location? There isn’t an actual place of worship that is waiting to open its doors? Hmmm… When I mix that up with other information that the Asbury Park Press has run on this story and you’re talking about a different story entirely.

Instead of a Pastor, his congregation, and his mission being ousted from their only home we have a Pastor with no congregation and no mission being removed from this building. And what of this building? A recent Asbury Park Press article talked about how this building was vacant on the first floor (the proposed location of the mission) and how the Pastor lived upstairs.

Folks, there are a conglomeration of financial institutions who WANT to infuse this area of Long Branch with money, economic advancement opportunities for residents (i.e. jobs), affordable housing options, and artistic/entertainment space. And this plan has not been able to go through because of a non-existent mission and a liquor store?! This is why it takes decades for any real change to happen in our communities.

I’m as much against eminent domain as the next guy. I think it’s vulgar that in the great American political experiment we’ve allowed a pro forma increase in tax revenues to replace existing taxpayers and homeowners. We’re not supposed to operate that way in this country. Yet, this is also a country where we try to work in the best interests of each other. When an entire area is asking for redevelopment, asking for an infusion of private, non-taxpayer money, and asking for their community to get a face-lift, then we should be for that change. In other words, just as strongly as we defend our rights to own our property without eminent domain, we should be fighting just as strongly against lone holdouts in these projects who have questionable ideas on the possibility for their future development.

The Broadway Arts Center project needs to get moving and it needs to get moving immediately. I wish Godspeed to Pastor Brown in finding a place to live in this crazy market (though $450,000 will find you a great place in a nice area of Long Branch) and I admire Pastor Brown’s use of the legal system to plead his case at any and all levels of the judiciary, but now is the time to move forward.

Enough with the Commercials, Stern!

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A few weeks ago I read an article that decried the satellite radio business as not living up to its promise. No, not the promise of commercial-free content because that’s not what they are promising (except with music – Sirius XM promises commercial-free music and boy do they deliver). What I am referring to is the theoretical promise of satellite radio.

That promise is a marketplace where YOU can pay for services that are to your liking and receive them on a limited interruption basis. For the purposes of this entry, I absolutely believe that Howard Stern is delivering on the promise of specific content tailored to a certain demographic. His channels are not only the most listened to on all of satellite radio (including the higher subscribed to XM), but they actually have a variety of topics and personalities that appeal to a broad audience (you’d be surprised). I’ve personally become a big fan of Bubba the Love Sponge since I first heard him on Howard 101, but that’s a different story.

However, Howard Stern and his crew are NOT delivering on the promise of limited interruptions for this PAY service. I understand that the talk channels do have some degree of commercial interruption and that’s fine by me. Gotta pay the bills, right? But the commercial breaks on Howard 100 and Howard 101 are – at this point – out of control. And I stress “at this point” because this was not always the way it was on these channels. When Howard started on Sirius XM, he had such limited interruptions that they amounted to some 20 minutes or so on his first show and even that was just a musical break or two.

But today, not only are we (the paying subscribers) subjected to 10 minutes or more of straight non-original, commercial content, but we are subjected to this crap on an increasing basis. I should take this opportunity, though, to point out that my definition of commercial and their definition of commercial is almost certainly different. I define anything that is not original, live content as a commercial. And please, don’t try to use 3rd grade logic with me about how by my limited definition then all of the replays are commercials. That’s BS and anyone with an education higher than grade school should understand that concept.

When Howard goes to commercial and you hear some lead out garbage phone call or sound clip, that doesn’t count as original, live content for me. When it flips to Howard 100 news for 5 or 6 minutes, that is also part of my definition of “commercial” – as is the downright insulting “lead-in” when they are back from commercial break. Why is the lead-in insulting? Well, they generally play some song during the lead-in. That’s what I want from the talk channel…a song. A fucking song?!?! Are you kidding me? I have dozens and dozens of commercial-free channels and one of the few talk channels that I listen to is going to play a fucking song? What bullshit.

On a related note, I can’t tell you how amazingly arrogant and aggravating it is to hear him say with such concern that he and the gang, “have GOT to take a commercial break!” Alright, we understand that Stern has contracts with advertisers and he must live up to his end of the contract. But we’re not dipshits! We’re not stupid! He has these contracts in place NOT because management is forcing him to have a ton of advertisers; rather he has those contracts in place because he’s trying to maximize his profit potential. Any business student understands that and they, like me, are probably fine with it. The problem is that Stern is not living up to the theoretical promise of satellite radio.

In any event, the next time you are on a long trip in the car take out your watch and time how long it takes from Howard to say, “We’ll be right back,” to him actually talking on the air again. It’ll be ten minutes at least (if you can stick with it that long). This is not the promise of satellite radio. In some respects, all Howard has managed to do on satellite radio is re-create the terrestrial radio template. It’s sad. Is it enough to have me cancel my Sirius subscription? Well, I don’t think so – unless, of course, they don’t bring back Bubba the Love Sponge after his contract expires!