Archive for January, 2011

More Prosperity, Less Government. This week on Your Financial Editor.

Wednesday, January 26th, 2011

Join Chris and his guest, Michelle Caruso-Cabrera, CNBC anchor and author of You Know I’m Right: More Prosperity, Less Government, as they tackle what’s right and what’s wrong with America.  They’ll be talking about issues like the deficit, unemployment, health care, education, housing and immigration.

Join us this this Saturday morning at 8am on AM 930 WFMD, or listen from anywhere on�your pc by logging onto www.wfmd.com and clicking the listen live button.

About this week’s guest:

Michelle Caruso-Cabrera is an anchor and reporter for the network’s Business Day programming and is currently part of the “Power Lunch” (1-2PM ET) ensemble with Sue Herera and Tyler Mathisen.

Previously, Caruso-Cabrera was co-anchor of “Worldwide Exchange” (M-F, 4 a.m. – 6 a.m. ET), CNBC’s first global daily business news program utilizing the resources of CNBC, CNBC Europe and CNBC Asia. She was also the co-anchor of the second hour of CNBC’s “Morning Call” (M-F, 11am – 12 pm ET) and anchored CNBC’s “Wake Up Call” (M-F, 5 a.m. – 6 a.m. ET).

Caruso-Cabrera reported for NBC News from Baghdad, covering the elections and its impact on Iraq’s post-war economy and has also traveled to Cuba, Brazil and Venezuela to report on and produce groundbreaking stories about the economies of those countries.

Caruso-Cabrera joined CNBC in 1998 from WTSP-TV in St. Petersburg, Fl., where she spent four years as a general assignment reporter. Prior to joining WTSP-TV, she was a special projects producer for Univision, where she won an Emmy Award for a five-part series on children with AIDS, as well as an Emmy nomination for a report on sexual abuse by clergymen. At Univision, she gained extensive experience covering Latin America. She began her career in 1991 as a stringer for The New York Times, reporting on education issues.

Caruso-Cabrera writes a personal finance column for Shape en Espanol focusing on issues of particular importance to Latinas. Previously, she was a monthly contributor to People en Espanol.

Caruso-Cabrera has also been awarded Broadcaster of the Year from the National Association of Hispanic Journalists and was named one of the “100 Most Influential Hispanics” in the country by Hispanic Business Magazine. She earned a bachelor’s degree in economics from Wellesley College.

College Kids and Money 101

Monday, January 24th, 2011

No matter how distinguished the university, many students come out as naive about money and spending as when they went in.  Because of recieving allowances, credit cards, gift cards, etc from their parents, they never seem to master the responsibility of managing their finances.  There was a great piece on www.foxbusiness.com this week lisitng the 8 misconceptions college kids have about money.  If you have kids or grandkids in school, you may want to check it out.  When you finished reading it, send it to the college kid with the next batch of homemade cookies you send out!

No Porn Equals Lower Profit…

Monday, January 24th, 2011

Ahh, what a refreshing piece of information I stumbled over today.  It seems that one provider of pornography is seeing a substantial change in its bottom line.  Have you ever stayed at a hotel?  If you answered yes, there is a good chance that a company called LodgeNet provided the television and internet services.  Well, LodgeNet got a big surprise when one of its largest hotel customers implemented a policy that prohibits pornographic movies in its new hotels and bans the offerings at existing properties after its contracts with LodgeNet expire.  The company estimates that 50% of revenues from these hotels comes from adult movies.  The annual dollar amount that LodgeNet will lose?  $25 million…per year.

I have tried, but can’t seem to crack the secrecy as to who the hotel chain is.  I wish I could because then I could make sure I support them for their confident choice.  Check out the full story at www.hospitalitybusinessnews.com

An obscure route to becoming a billionaire? The mysterious world of hedge funds – this week on Your Financial Editor.

Thursday, January 20th, 2011

 Wealthy, powerful, and potentially dangerous, hedgefund moguls have become the IT boys of twenty-first century capitalism.  Chris’ guest this week is Sebastian Mallaby, who wrote, More Money Than God.  Mr. Mallaby’s book is more than just a history of hedge funds, it is a window to tomorrow’s financial systems.

Join us this this Saturday morning at 8am on AM 930 WFMD, or listen from anywhere on�your pc by logging onto www.wfmd.com and clicking the listen live button.

About this weeks guest:

Sebastian Mallaby is the Paul A. Volcker Senior Fellow for International Economics at the Council on Foreign Relations and a Washington Post columnist.  He spent thirteen years at the Economist Magazine, covering international finance in London and serving as the bureau chief in southern Africa, Japan, and Washington.  He spent eight years on the editorial board of the Washington Post, focusing on globalization and political economy.  His previous books are The World’s Banker (2004), which was named as an Editor’s Choice by the New York Times, and After Apartheid (1992), which was a New York Times Notable Book.

Is there a particular strategy that works best when teaching kids about money?

Tuesday, January 11th, 2011

This is a question that I am often asked.  In today’s society many people are very dedicated to spending time with their children and grandchildren.  Good parents and grandparents teach these children vital things like morals, values, honesty, integrity, charity, to help others, etc.

Even better, many, if not most, lead by example so the youngsters can not only hear the words, but also see the action and results.

Money and money issues are no different.  The sooner involve children with financial responsibilities, the better chance they will have of making prudent decisions and protecting themselves.

Let’s face it; this last recession in particular had a lot to do with people getting in over their heads.  Who, in a normal state of mind, wouldn’t question not only getting a mortgage for more than they could afford, but also getting an extra $25,000, $50,000, or $100,000+ at the settlement table for walking around money?  Come on!  I guarantee anybody that lived through or around the depression era didn’t succumb to those temptations.  Why?  Because they either learned the lesson of living within their means because they didn’t have anything or they saw what was going on around them to other people in their neighborhood and across the county back then.

So, talk about money just like you would any other subject.  Start with a piggy bank and progress to an allowance, then a prepaid card (which will require restraint), then a checking account and finally a credit card or some other line of credit.

The more they learn, hopefully, the more control they’ll have over their finances as they get older.  I know I didn’t pave any new roads here, but I think the basics are all that is needed. 

Thanks for the question and have a great New Year!

This week on Your Financial Editor – The Young Professional’s guide to spending, investing and giving back.

Friday, January 7th, 2011

Young professionals often have questions about their finances.� What should I be doing with my savings? Should I buy a house or keep renting? Where should I invest my money?� Join Chris this week with his guest, Kimberly Palmer, author of Generation Earn, and they will answer these and other pressing questions for the young professional.

Join us this this Saturday morning at 8am on AM 930 WFMD, or listen from anywhere on�your pc by logging onto www.wfmd.com and clicking the listen live button.

About the Author:

Kimberly Palmer, senior editor and personal finance columnist for US News & World Report, writes the magazine column and daily blog, Alpha Consumer.  She has appeard on NBC’s Today Show, CNBC, and CNN, and written for the Washington Post and the Wall Street Journal.  Kimberly holds an MA in public policy from the University of Chicago and a BA from Amherst College.� She and her husband just welcomed their first baby and bought a townhouse in Washington, DC area.