Do you want organization with business contacts

Now is the time to test out this new software from 37signals:




Check it out and send me some input.

DELAWARE HAS SPORTS BETTING! GO DELAWARE & MORE

GO DELAWARE.
SPORTS BETTING IN DELAWARE WOW!

I like the idea that Delaware is moving forward with Sports Betting.
It's also nice to see that Pennsylvania is debating bringing Table games to there Slots Parlors, preparing for full gaming and sending a severe blow to the gaming industry of New Jersey.

While New Jersey continues to be the Highest Property Taxed State in the Nation with both legislative houses controlled by Democrats and a Democrat who calls himself a Governor, WOW AGAIN!.

IT seems New Jersey politicians are sleeping on the job, and Casino executives aren't working to improve their situation either. IT's clear the "LOSER" in all the gaming/gambling news and events has gotten New Jersey surrounded like George Custer at Little Big Horn. Poor Government leadership, a lazy inept legislature and poor gaming manaagement by the Casino Owners has led to the "DEMISE OF THE NEW JERSEY CASINO INDUSTRY." IT's not just the economy that has done New Jersey gaming in, its their change in marketing tactics, their increase in the cost of playing table games, and their reduction in player comps, its the look and feel of Atlantic City itself that has changed, but not changed enough for the visitor to stay longer and other factors that have caused Atlantic City's gaming industry into bankruptcy of five casino properties and the caution by investors to build additional properties in Atlantic City, NJ

New Jersey needs to move away from Atlantic City, it needs to allow gaming at all its race tracks (racino's), it needs to allow full gaming operations in Camden County and other Counties throughout the State, it needs to use these funds to lower or eliminate the cost of taxpayers funding the schools. I pay $2,716.00 a year in School taxes in Deptford Township and I don't have any children in the school system, that is 56% of my taxes of $5,700.00 a year for a home with an resale value of under $250,000, and its a town-home with a Gestapo like Home Owners Association.

GO DELAWARE
GO PHILLIES


The NFL has grown accustomed to getting their way. They hold their players to a high standard, and they have become a juggernaut of a lobbying force. That did not help the league, however, in court on Wednesday when they had a request turned away by Judge Gregory Sleet.

The judge ruled against a request of a temporary injunction that would have stopped Delaware from offering sports betting until a trial that sports leagues have filed against the state was complete. The judge's ruling will allow Delaware to move along with their sports gambling plans.

Today's ruling was particularly pleasing for Delaware because state lawmakers are hoping that the sports betting will be in place before the start of the NFL season. Today's ruling clears the way for NFL gambling to begin in September.

"The state is moving forward with its plans to offer a full compliment of sports lottery options by the start of the NFL season September 10th," said Joe Rogalsky, Spokesman for Governor Jack Markell, "We look forward to a vindication of our position at trial in December.

The trial date has been set for December 7th. The NFL has joined forces with the NHL, NBA, and NCAA to file the lawsuit claiming that Delaware should not have the legal right to offer sports betting. The state is one of four that were exempt from the Professional Amateur Sports protection Act of 1992.

Other sports have stayed out of the legal battle. NASCAR, the only major sport that actually has events in Delaware, has not joined the other leagues in their fight against legalized gambling. NASCAR already runs races in Las Vegas, where sports books are legal, and the sport has had minimal problems with betting in Nevada.

August 6, 2009
Posted By Vincent Tapoglia III
Staff Editor, CasinoGamblingWeb.com
Submit News!

KEEP THE CREDIT CARDS IN YOUR DRAWER

Keep your credit cards home when you decide to shop. Use cash and where you can use your debit cards or personal checks. Every person who decides not to use there Credit Card is putting a big gash into the wallets of the Credit Card issuers, they only make money when you use the CC. So don't use it, if you can avoid it.

Capital One is hurting big time, from less usage and from people who are defaulting on the rip-off interest rates of 25% to 30%. Their is a backlash from many people who paid on-time and viewed their interest rates rise from 5% to 20%+.

The less you use your card, the more hurt you put the the CC companies.
Continue to Twitter and write Congress to place a CAP of 10% interest on all credit cards. Twits growing in volumes globally to CUT THE CARD.

Joe
Go Phillies

It's time for Electric Vehicles that are affordable!

Today is Friday June 12,2009. While the wizards in Government are now Owners of General(Government) Motors and they are making FIAT "An offer they cannot refuse" for Loser Chrysler. Ask yourself this question, Is Chrysler an American Company or a European Company, or is it a Union Company? How will the Union bosses tell their Union Brothers and Sisters they need to take a pay cut and possibly another layoff!
Has the Union leadership taken any paycuts from their Ginormous salaries and expense accounts, after all, Isn't a UNION a business?

Their are innovative small electric car companies who are bringing to the market exciting Eco-POSITIVE products.

LOOK BELOW AT A COMPANY CALL ZAP STOCK SYMBOL (ZAAP). Someday I hope to own a small electric vehicle by ZAP, as soon as my business picks up at: www.lumberkings.biz



* ZAP Parts
* Electric Vehicles
o Electric Cars
+ Alias Reservation
+ Xebra Sedan
+ Xebra Solar Panel
+ Xebra Truck
+ ZAPTRUCK XL
+ ZAPVAN SHUTTLE
o Electric Scooters
+ Zapino
+ Zappy 3 Pro
+ ZAPPY 3 Standard
+ Zappy 3 EZ
o Electric ATV's
+ ZAP Dude



ZAPVAN SHUTTLE

* Electric Cars
* ZAP

List Price: $14,700.00
SKU: Product currently not available





Click Here For Specifications

Performance Specifications:

* RANGE: Up to 30 miles
* TOP SPEED: 25 mph

Technical Specifications:

* STEERING MECHANISM: Rack and Pinion steering
* BRAKING MECHANISM: Dual-circut front disk / Rear drum
* FRONT AND REAR SUSPENSION: Leaf spring
* WHEELBASE: 79 inches
* TURNING RADIUS: 15.25 feet
* CURB WEIGHT: 2088 lbs
* PASSENGER CAPACITY: Five passenger (People mover configuration) , Two passenger (Cargo configuration)
* BATTERY TYPE: Absorbed Glass Mat (AGM) Lead-acid
* MOTOR: 72 Volt AC
* RATED CURRENT: 85A
* BATTERY CHARGING SYSTEM: 90-260 Volt imput / 12V imput / 12A output
* CHARGING TIME: 12 hour max charging
* OPTIONS:
o Air Conditioning
o Solar panel
o Rapid Charge

Reserve your ZAPVAN SHUTTLE now for only $99

And you will be credited $199 towards the purchase of your
ZAP from your closest dealer*

*Sold only through ZAP Authorized Dealers





* Company
* Dealers
* Owners
* Investors
* Careers
* Portable Energy
* Our Fleets

Copyright ©2008 ZAP. All Rights Reserved. - Terms of Use | Privacy Policy

ARE YOU SUFFERING FROM PSORIASIS

I found this article written by Jane Mundy online. If you suffer from psoriasis, please read it and if you continue to suffer from psoriasis, contact me at: frontier22@aol.com.

I started suffering from psoriasis at age 27, I am 51y.o. currently. In 2006, I began experimenting with natural products, the power of a tanning booth and the use of a prescription psoriasis drug called "Soriatane." My psoriasis is 99% gone.

I have developed and product with three treatment procedures.
(1) My psoriasis oil (Joe's Psoriasis soothing Skin Oil)
with the use of a stand-up tanning booth (Hollywood tans HT54)
along with taking of Soriatane.

(2) My psoriasis Oil, the tanning booth and taking Vitamin "A"

(3) My psoriasis Oil, and the use of the tanning booth without taking either Soriatane or Vitamin "A". Each treatment has with it a detailed treatment format to follow.

My product doesn't contain any harmful chemicals or any steroids, no mineral oil
My product is chemical free, all natural, 100% bio-eco friendly.

I am currently working hard to bring my product-treatment to the attention of the Dermatology community, where I would like my product-treatment monitored by professionals or at least initial treatment by the patient be monitored by a Dermatologist.

I recommend to all sufferers of psoriasis, get an ALLERGY examination, and if found that you are allergic to various foods, pollens, etc, begin weekly treatments, the allergy treatments will calm the psoriasis itching and discomfort and my psoriasis oil product will moisten and hydrate your dry skin patches.

It is my theory that its not all the immune system going out of whack, its a combination of the immune system and the nervous system,along with a possible vitamin A & D deficiency, and your diet may play a role in the irritating and embarrassing condition of psoriasis.

Their are many claims of cures and treatments (Over-the-Counter products), but none really work,most have foul odors and ruin clothing, some make the condition worse,as does some of the prescription topicals with steroids as part of there formula, make the psoriasis condition worse.

My Start-Up company is: Frontier DermaSciences, LLC, It is my guess those who decide to try my product-treatment will spend between $750.00 to $1,700.00 per year for uninsured treatment, because the insurance companies don't know of my product, compared to $10,000 to $25,000 to treat with products from AMGEN, ROCHE/GENENTECH, ABBOTT LABS, and CENTOCOR(J&J).

My product, I don't claim to cure you, however the results based upon my own personal treatment is truly unbelievable and I want to offer my product-treatment to those who cannot afford the expensive treatments and to all who are tired of the topical,smelly,chemicals.

My product will offer you relief, I am confident.Please talk to your Dermatologist to send for information about Joe's Psoriasis Soothing Skin Oil and Treatment.
Please email me at: frontier22@aol.com

Joe Simiriglio Jr
Frontier DermaSciences,LLC
856-848-7300
www.psoriasiscare.biz




Why Raptiva was Withdrawn News
June 8, 2009. By Jane Mundy

Daly City, CA: After getting FDA approval in 2003, Raptiva was used to treat about 46,000 patients worldwide. In April, Genentech's immunosuppressant for psoriasis was withdrawn from the market after it was associated with progressive multifocal leukoencephalitis (PML)—a rare brain disease. So far only three cases have been associated with the drug, but PML is often undiagnosed or misdiagnosed. And given the amount of patients prescribed Raptiva, the drug may be withdrawn but we likely haven't heard the last of it…

Drug WarningTo make matters worse, Tysabri, a similar drug that is sold by Biogen and Elan Corp., has been linked to 10 PML cases going back to 2005. It was withdrawn from the market but is available again.

And another similar drug called Rituxan--co-marketed by biotechnology companies Genentech Inc. and Biogen Idec Inc. and used to treat lymphoma, a cancer of immune-system cells--is also suspected to be linked to PML. In one study called RADAR, researchers said they found 22 previously unreported cases of PML by contacting cancer treatment centers. In March 2009 the medical journal Blood released a study that linked Rituxan to 57 cases of PML, between 1997 and 2008.

Doctors say Rituxan is also used "off label" for conditions not approved by the FDA, including lupus and psoriasis. FDA officials say they are aware of some off-label uses and they are legal, so long as the drug maker does not promote them.

So why has Raptiva been withdrawn yet Rituxan and Tysabri stay on the market?

"It might have been OK for efalizumab [Raptiva] to be around — with a giant warning label and clear-cut informed consent for use in very specific situations," said Craig L. Leonardi, M.D., clinical professor of dermatology, Saint Louis University. "But [Genentech] has the right to stop the distribution and manufacture of the drug at any time." He adds that such decisions depend on the disease being treated and the doctors prescribing the medication.

"Dermatology was not very motivated to keep efalizumab around for their tough-to-treat patients who needed it. Even though psoriasis can be horrific, it's not the same as MS or cancer," said Leonardi. "So dermatology made that risk-and-benefit assessment and voted with its feet." As well, alternative medications are available to treat psoriasis. Clearly the Raptiva risk outweighs the benefit—although psoriasis can be a serious illness, it is not life-threatening. Tysabri, for example, is used to treat patients with MS and patients who have failed other therapies.

Eric Le Berrigaud, pharmaceutical equity analyst with Raymond James Euro Equities in Paris, said that Roche, which now controls Genentech, decided not to pursue Raptiva rights outside the United States. "Roche does not believe in the product, and, whatever happens, will not reintroduce the drug in the United States," said Le Berrigaud.

Raptiva's withdrawal is no comfort to psoriasis patient Luis G. His dermatologist prescribed the drug and Luis took it for about two years. "I didn't feel good, it was too intense and I wanted to get off it," says Luis. "My feet were swollen, I was aching all over and really exhausted.

"My joints hurt so much I was in agonizing pain; my dermatologist told me to stop Raptiva and he put me on an alternative psoriasis medication which is also used for arthritis. I went through two months of hell. It was driving me crazy.

The symptoms started to calm down but I was really upset when I realized this Raptiva was still in my system. This is not right, especially for something cosmetic. You get on this med and all of a sudden you can get a life-threatening disease? I was also misinformed.

When I found out that Raptiva was recalled, I just knew it in my gut that something was wrong, as soon as I started to have these adverse effects. What will happen to me down the line? I have a two-year-old girl and I am concerned; it should never have been on the market in the first place."

LETS GET SERIOUS ABOUT SOLAR ENERGY

The White House Talks, The State House Leaders Talk, Local Government Talks, But are they walking the walk on Renewable energy? Lets begin with my Home State New Jersey, Here is What I propose: All Utilities in the State and any private Solar Energy Company approved by the State can offer to mount Solar Panels and related accessories onto the roofs of complete neighborhoods and businesses, operate the Solar Panels as an "Array" or run the power parallel from one home to the other, in order to allow uninterrupted usage by each homeowner and business.
Each homeowner and business who chooses to have solar power placed on their roof agrees to free energy and all excess energy goes back to the utility company who installed the panels,even when the sunlight is down and power is at a minimum, the utility kicks in and supplies the power at their expense.

New Jersey would eventually become an almost Fossil Free Energy State. In addition to the Solar Panels. In addition to the Solar Panels, the utilities will contract to remove all current standard water tanks and replace with Tankless (instant)Hot Water heaters, and the payment for the new tankless heaters will come from the Solar Sun Credits a home and business is returning monthly to the utility company.

The Utility company would also be responsible for the roof structure of the home and any insurance needed to protect the roof will be the responsibility of the utility company.

New Jersey can lead the way to alternative energy usage on a Grand Scale, if they would only hire someone to provide the vision, guidance and leadership in alternative energy usage and implementation, now ,not then years from now.

The Obama administration is willing to give billions of dollars for alternative energy usage, give me the position and I will have NJ the global leader in Energy conservation and innovation.

Go Phillies

DEMAND A CAP ON INTEREST RATES AT 10%

President Obama may have signed the New Credit Card "control" legislation, but it doesn't go far enough. I won't break all down on this Memorial Weekend. But while your elected officials are home for the Holidays. Send them a message to present another law to the Credit Card legislation that will cap Credit Card Interest Rates to 10%.

My other suggestion is USE CASH.DON'T USE ANY CREDIT CARDS, ESPECIALLY CAPITAL ONE.

Joe

Go Phillies!

ARE YOU SUFFERING FROM PSORIASIS? OR KNOW ANYONE WHO IS SUFFERING FROM PSORIASIS???

Read this article concerning RAPTIVA.

Raptiva Cause for Concern News
May 18, 2009. By Jane Mundy

Memphis, TN: Gloria was prescribed Raptiva for severe psoriasis and she says it worked "like a charm". She stayed on it for about 4 years, until she developed troubling side effects. Gloria has been a registered nurse for over 30 years—right away she thought these symptoms were associated with Raptiva.

Psoriasis She started having muscle aches and back pains and injections site pains. "Usually the injection burns but it should go away," says Gloria. "It was more than a tad uncomfortable—sometimes the burn stayed for days…

"Then I started having some neurological issues and I even had to use a walker for a while. I didn't know anything adverse about this drug until a few weeks ago. I received a call from a dermatologist telling me I should be taken off Raptiva; he went to a conference and they mentioned this severe neurological defect—a brain damage disease [progressive multifocal leukoencephalopathy (PML)]—associated with Raptiva, and once you get this you won’t go anywhere with it but down.

I got sick to my stomach, especially because I have been taking it for so long. When my doctor first told me, I was in shock, strictly because I am in the medical profession. What if my brain has some of this disease process going on and they aren't catching it? Then a few days later I got mad. I can’t be mad at my doctor because every drug has side effects and you never know when a side effect will crop up and grab you. I got angry at the drug company because they knew this was happening. I am a research person and if I take a medication, I need to know what it is going to do and if it has any adverse affects.

From what I have read and from what the pharmacist in my company told me, the drug company knew about this side effect from clinical trials overseas and those trials did not have good results. This made me really angry. Apparently the drug company knew of the negative trials but never imparted the information here in the US.

I researched this drug thoroughly when I was first prescribed it and there was nothing in the literature that jumped out at me and said 'Don't take this'.

I didn't know if the neurological problems I was having were due to Raptiva or not because nobody could give me a definitive answer to my question—where were these problems coming from? I have never had issues like this in all my life. I was even hospitalized for 5 days. I just came home this week but I am still having residual affects from the disease process that put me in the hospital. I had a severe rash, fatigue, joint and muscle pain—all the classic symptoms.

The doctors couldn't say that Raptiva was the direct cause, but they didn't rule it out either.

I've been off the drug for about 4 weeks, but it takes a long time to flush Raptiva from your body to feel any changes. Right now I feel tired; I am worried about any residual affect and I am scared to take anything else for psoriasis ( I have been through the whole gamut—creams and oils—but nothing works.) My doctor prescribed another injection medication and I was very leery of taking it--he understood that I was gun-shy about this stuff.

My life has been turned upside down because of this. I was able to take any medication before Raptiva and not worry about it but now I am skittish about anything, even my old medications. I am mainly concerned about which pharmaceutical company makes them—if it is made by the same company that makes Raptiva, I won't take it.

I'm also a very strong and analytical person but this has me acting like a 2-year-old, being scared of any medication. I want to be confident like I was before, and not sit here waiting for something bad to happen. And the amount of money I have spent – Rapitva doesn't come cheap—has me angry.

Even without a lawsuit, I would like the drug company to make available the research done in other countries so people can make an informed decision. And I don’t like being blindsided by this incident—it has affected my whole family. They are nervous; they have seen me sick and don't think it is right. I just hope my testimony can help others."


I am owner of a start-up company called : Frontier DermaSciences,LLC. www.psoriasiscare.biz or www.lumberkings.biz

My psoriasis started at the age of 27. I am now 51. In 2007 I embarked on a personal project to treat my psoriasis without nasty chemicals and steroid topical products. I felt embarrassed when I went to the beach, went out on a date and at times on job interviews, I could not hide my condition.
In 2006/07
I experimented for a few months and came upon five oils that I successfully blended together. I was taking a prescription drug called Soriatane, it stopped the progress of my psoriasis, but did not lessen the lesions on my body. I used a tanning salon foe a couple of months each year and it worked temporarily for a month or two before the psoriasis came back again.

I took my idea and my blended oils, set-up an experiment that would initially run for four months, using my blended oil, the tanning salon, and the Soriatane by increasing the dosage temporarily, and documenting the events daily. In this experiment I failed to take photographs of myself, because at the time I never considered taking my product/invention public until family and friends recommended I move forward with my invention.
After the first test results, my body was 75% clear and I stopped treating, except for applying my oil, everyday after an evening shower. It took 10-months for the psoriasis to return, but only 25% of the original lesions/plaques returned.

I started a second round of experiments in January of 2009, and on March 26th, completed the second round or phase. I am currently 99% clear. I haven't taken a Soriatane since March 26th. I only apply my oil after an evening shower.

I have no side effects, my skin is hydrated and smooth and my skin is free from psoriasis at this time. It will be a super summer on the beach again.

I have attempted to raise funding for my start-up via Angel Investors, it did not work. I plan to market my product directly and to the Dermatology community beginning June 1st. Many Dermatologist don't support the use of the Tanning Salon, I do, it worked for me. My major competitors as far as I am concerned are: Genentech, Amgen/Roche, Abbott Labs, J & J Centocor.

For those who suffer from psoriasis. Visit with an allergist, find out if you are allergic to foods, grass, pollen, etc, if so, begin treatment, it will reduce any itching you may have. Drink less sodas and more water, it doesn't have to be bottled, your faucet city water is good enough. Excercise daily that will reduce stress.

If you are interested I have a plan using my product to assist in your psoriasis skin condition. Contact me for the information and if you have a dermatologist send me his/her name so that I may forward my treatment data to them for evaluation.

I don't have a cure, My product doesn't contain any chemicals, and no heavy oils, my product is safe and is clear in how to use it. My product doesn't require Rocket Science, it's smart science and bio/eco friendly.

The Tanning salon is a safe place to treat, the treatment plan is designed for the whitest of skin pigmentation and you can start your treatment with or without the use of prescription Soriatane, and monitor your own progress, although working with your dermatologist is my recommendation.

You have a friend in me all those who suffer from Psoriasis.
Contact me at: frontier22@aol.com

TAKE A LOOK AT THIS SUPER T-SHIRT WEBSITE

http://www.tshirthell.com/store/clicks.php?partner=jotronics

Hello Everyone: Take a look at this website. www.tshirthell.com
Its off-beat, funny and for 18+ only. The quality of the goods" Outstanding!

I own a small business: www.lumberkings.biz
Part of my business is Custom Apparel, so I appreciate great product when I view it.

For anyone who is interested. You can advertise on my blog for $1.00 a day or $365.00 for a year. Economy is tough for my small business. We need to help one-another.

For those of you who follow me currently you can purchase:
500+ t-shirts white with one color printing, 100% cotton t's Small to XL for $3.00 each, plus shipping. Includes Custom 11" x 11" LOGO DESIGN ON T-SHIRT.
contact me and we can discuss your marketing needs: frontier22@aol.com

We can do custom embroidered Golf Shirts too starting at $15.00 each no minimum order required on embroidered product or check our T-shirt POLO for $10.00 each (White POLO) or a color T-shirt POLO for $13.00 each sizes to XL.

IS THE SENATE GOING TO BE "PRO-CONSUMER?????"

COPIED FROM CNN (DOW JONES)
Will the Senate become "Pro Consumer" Do they have the Balls to CAP interest rates to 10%? I doubt it, Please read this article. At this time Tweets all over our small,blue marble are tweeting away at telling all to stop using "CREDIT CARDS" and to use CASH. CASH IS KING, ITS CHEAPER THAN CREDIT CARD USE. A CREDIT CRAD MAKES YOU A SLAVE TO THE BANKS, THE CREDIT CARD ISSUERS AND ITS DIFFICULT TO DIG OUT ONCE YOU GET INTO A SITUATION WHERE YOU CANNOT DIG YOURSELF OUT.

I urge all tweets, and all other concerned global citizens to 'PUT YOUR CREDIT CARDS AWAY IN THE DEEPEST DRAWER YOU HAVE' Request from your local shops to accept Paypal, accept layaways,they all accept cash.

Don't use the Department store credit cards. Only purchase what you need at the moment. You will find you really don't need the Doritos at $3.00 a bag, Use a couple more dollars and purchase a good Delmonico Steak or 1lb of Tilapia for $3.00.

Look for deals, Don't buy that Cereal at $4.19 a box, when you can purchase healthier foods for your children and make them a Pancake or Waffle breakfast less expensively.

Keep the SODA in the store, Make homemade ICED TEA & Homemade lemonade, remember when your parents did it. Keep the soda in the store.

Go online and find homemade recipes for "FREEEEEEEE!"

Shop Smart. We do. This economy has taught us to be wiser in our purchases.
Canned tuna used to be 6.5 oz now most brands are at 4.5oz to 5 oz and they cut the Olive Oil for Soybean Oil, tell them to keep it.

Cooking Oils has risen: NO real reason for it to rise. Just brands and supermarkets attempting to rip you off. Keep it on the shelf, bake leave the oil on the shelf.

Do more Barbecuing, it doesn't use household gas, stick it to the Utility company, tell them to lower the cost or you will cook less, or simply do it on the barby, Ahe.

Lets stick it to BIG OIL. TODAY I STARTED ONLY GETTING ONE GALLON OF GAS AT $2.19 A GALLON, If 3 to 6 cars in a line do it, it will send the gas attendants crazy, by slowing the line with only 1-gallon fill-ups, they may get the message. "Time is money." Most gas stations are owned by ARABCO, an Arab oil shiek, most are from the middle east or from south america, most are not citizens.

PASS THE WORD. DON'T USE YOUR CREDIT CARDS, BUY WITH CASH, BE SMART, WRITE YOUR CONGRESSMAN AND DEMAND 10% CAP ON CC INTEREST RATES, TELL THEM YOU ARE VOTING FOR A NON-INCUMBENT, HOLD BACK YOUR CAMPAIGN DONATIONS. MAKE HOMEMADE DRINKS, LIVE FREE AND PROSPER.

ADVERTISE ON WWW.LUMBERKINGS.BIZ FOR ONLY $1.00 A DAY OR $365.00 A YEAR.
SEND YOUR CODE TO: FRONTIER22@AOL.COM AND MAKE PAYMENT VIA PAYPAL TO: FRONTIER22@AOL.COM.

Senate Credit-Card Legislation Could Crimp Issuers' Growth
Dow Jones
May 13, 2009: 04:58 PM ET

BOSTON -(Dow Jones)- Proposed credit-card legislation would put the brakes on the ability of issuers to raise interest rates and impose late fees - the very tools used by card companies to offset rising losses in the current economic slump.

The rules being debated in the Senate would not only deprive card issuers of crucial ammunition but also would threaten to crimp industry growth. One way companies may respond - raise costs for financially sound consumers. The legislation would also probably make card companies cut back on lending to less- creditworthy borrowers.

The new legislation comes at a time when card issuers - such as Capital One Financial Corp. (COF), Bank of America Corp. (BAC), Citigroup Inc. (C), Discover Financial Services (DFS) and American Express Co. (AXP) - are reeling from losses on souring credit-card debt amid rising unemployment and a slumping economy.

The proposed legislation makes "their business model less resilient," says Sanjay Sakhrani, an analyst at Keefe, Bruyette & Woods. "One of the best parts of this business was the ability to re-price rates based on risk, and that lever will no longer be available to card issuers a year from now."

The proposed legislation includes a bill that caps interest rates banks can charge credit-card users. Another would ban card issuers from raising rates on existing balances unless the consumer is 60 days late on payment.

An amendment also being debated would make it easier for retailers to give discounts to consumers who use cash, checks or debit cards rather than credit cards, depriving banks of lucrative fees associated with credit-card transactions.

The bill is tougher than legislation the House passed and goes well beyond new Federal Reserve rules curbing credit-card practices that will take effect July 2010. The amendments being pushed in the Senate would add even more restrictions on banks.

Senators so far haven't reached a final agreement on which amendments will be offered or a plan to move forward on the bill.

Peter Garuccio, a spokesman at the American Bankers Association, a trade group, said the legislation "represents a fundamental change in the way card companies conduct business."

Restrictions on raising rates take away the issuers' ability to manage risk related to borrowers with patchy credit.

Moreover, in an effort to make up for lost revenue, card issuers could begin charging annual fees and raising rates on foreign exchange transactions, which would affect even the most sound borrowers. Card companies might also scale back lending to those with shaky credit, as the risk of defaults would outweigh gains if the card issuer can no longer raise rates to compensate for the additional risk.

"People who have good credit may have to compensate for people with bad credit," says KBW's Sakhrani. "People may also find credit cards not economically viable."

To be sure, card issuers have moved quickly to hike rates ahead of July next year, when the Federal Reserve's new rules on credit cards kick in.

Top card companies, including JPMorgan Chase & Co. (JPM), Citigroup, Bank of America, Capital One and American Express, are already "raising interest rates on a larger portion of customers than usual and increasing the number of fees they impose," Joshua Frank, a senior researcher at the Center For Responsible Lending, said in a research note Monday. Many cardholders have seen increases of as much as 10 percentage points or more over their existing rate, notes Frank.

But there is concern that card issuers acting hastily in an effort to lessen the impact of the regulation could cause damage.

"If they re-price too fast or too hard," KBW's Sakhrani says, "card issuers could tip over struggling borrowers."

-By Aparajita Saha-Bubna, Dow Jones Newswires; 617-654-6729; aparajita.saha- bubna@dowjones.com

(Jessica Holzer contributed to this report.)

(END) Dow Jones Newswires
05-13-09 1658ET
Copyright (c) 2009 Dow Jones & Company, Inc.

INTERNET GAMing TO BE LEGAL SOON! It's about time!!!

Internet gaming to be legal soon. I am not a fan of Congressman Barney Frank, but sometimes he is amazing to me. Gambling one of the Worlds oldest hobbies and no government entity should be in the way of an individuals right to lose his/her shirt, pants, home and family. No government agency should be responsible for a gamblers loss of house, job, family,etc.

Companies within certain industries should take it upon themselves to keep government regulators off their backs to "SELF-REGULATEFrank unveils Internet gambling legislation

May 8, 2009

As posted on the Web site of the House Committee on Financial Services, Committee Chairman Barney Frank (D-MA) unveiled legislation that would enable Americans to bet online and put an end to an “inappropriate interference with their personal freedom.”

H.R. 2267, the Internet Gambling Regulation, Consumer Protection, and Enforcement Act of 2009 would establish a federal regulatory and enforcement framework under which Internet gambling operators could obtain licenses authorizing them to accept bets and wagers from individuals in the United States. The legislation comes in response to the enactment of Unlawful Internet Gambling Enforcement Act (UIGEA), which restricted the use of the payments system for Americans who gamble online.

In addition, Chairman Frank announced he is introducing separate legislation to delay the implementation of regulations pursuant to the 2006-passed UIGEA, which are set to go into effect December 1, 2009. The regulations were completed by the Bush Administration at the last minute, and the legislation will stop Federal regulators from enforcing the UIGEA until Congress has had a chance to decide national policy.

Click here to see the text of H.R. 2267, the Internet Gambling Regulation, Consumer Protection, and Enforcement Act (PDF)

SUMMARY
The Internet Gambling Regulation Consumer Protection & Enforcement Act would establish a federal regulatory and enforcement framework under which Internet gambling operators could obtain licenses authorizing them to accept bets and wagers from individuals in the U.S., on the condition that they maintain effective protections against underage gambling, compulsive gambling, money laundering and fraud, and enforce prohibitions or restrictions on types of gambling prohibited by states, and Indian Tribes.

LICENSING
This bill would provide the Department of the Treasury with the exclusive authority to establish regulations and license Internet gambling operators. License applicants would be:

* Subject to review of their financial condition and corporate structure, business experience, suitability, and criminal background checks, and agree to be subject to U.S. jurisdiction
* Prohibited from accepting any type of bet or wager that is initiated or terminated in a state or tribal land that prohibits that type of Internet gambling, or any sports gambling or wager prohibited under the Professional and Amateur Sports Protection Act.


ENFORCEMENT
This bill would provide Treasury the authority to revoke or terminate the license of any operator who fails to comply with the bill’s provisions. Violators could be fined or imprisoned for up to five years, or both.

SAFEGUARDS AND PROTECTIONS

* Any Internet gambling operator receiving a license would be required to have the appropriate safeguards in place to:
* Ensure an individual placing a bet or wager is of legal age as defined by the law of the State or tribal area in which the individual is located at the time the bet or wager is placed
* Ensure an individual placing a bet or wager is physically located in a jurisdiction that permits Internet gambling at the time a bet or wager is placed.
* Protect the privacy and security of individuals engaged in internet gambling
* Combat fraud and money laundering as prescribed by regulations issued by the Secretary of the Treasury or designee
* Combat Compulsive Internet Gambling

" for the good of society and for their employees who are the key to their personal wealth and success.

Above you have just read an article copied from the "CASINO JOURNAL" and "IGWB" both magazines are specific to the gambling industry.

"KEEP YOUR CREDIT CARDS AT HOME"

The Credit card companies are lobbying the White House to "NOT" impose new rules and regulations and "NOT" to cap interest rates. Send your congressman, Senator and the President a message. Go further and send them a copy of your credit card statement and ask your elected officials for some of the "TARP MONEY" to pay it off and state to your congress-person that you will pay the TARP money back at "0%" interest over a 7 to 10 year period.

You see, I don't believe all,if any of the TARP MONEY TO BANKS,will ever be repaid,let alone with interest. 500+ billion just vanished into thin air. If the TARP money is sent to credit card holders or if you send your statements to the Chief of TARP Distribution, (GEITNER), maybe he will pay your bill and in return, All us U.S. Citizens who are lending the banks with our tax money(tarp dollars, can over time repay our small Tarp loans at ZERO% interest.

I see a balance in my idea. Does anyone agree or disagree.

I truly believe, Congress should authorize that every American citizen who paid taxes in 2008, should receive a government issued credit card with $6,000.00 on it, as long as you the tax-payer didn't gross more than $120,000 in 2008.

The money in the consumers hand will go to necessities, medical care, vacations and cars, and most of all food and paying down high interest credit cards.

The politicians think the American People are stupid, they continue to pass IDIOT LAWS. I can tell you this in New Jersey, I will not vote for any candidate that is a lawyer, Democrat or Republican. The elected lawyers in Washington have screwed up this nation with their legalise.

All new legislation and contracts should be written in common English and be clear and understandable to someone who has not read beyond an 8th grade education.

GAS-O-LINE IS RISING AGAIN"RIPOFF REPORT"

Has anyone noticed the price of a gallon of gas in (New Jersey) has risen to $1.98 a gallon. The excuse is low supplies. No the real reason is BIG OIL AND THE MIDDLE-EAST ROBBER BARONS (The Oil Sheiks), want Crude to settle at $50.00 to $60.00 a barrel so they can continue to keep women out of politics, out of careers and home making babies, keep abusing their women and foreign workers.

BIG USA OIL COMPANIES are again making BIG BUCKS, but I ask you, Why is the Office of the President so quiet and why isn't Congress making any noise. I'll tell you why, they need greenbacks to finance their campaigns.

I request that all voters, "NOT VOTE" for any INCUMBENTS this time around, lets all vote for the New guys, regardless of Party, In NOVEMBER, SPLIT YOUR TICKET, SEND A CLEAR MESSAGE TO THE MEN AND WOMEN, WE PUT IN CHARGE OF OUR TAX DOLLARS, that we want action, we want a new fair tax system. We want the same medical care package each elected official has and we want the same pension package each elected official has.

It's time to remove the perks of the Washington Politicians and its time for term limits, It's time that Campaign funding laws should not allow any candidate or currently elected official from raising and accepting any campaign donations from out of State individuals and entities. All fund raising should be raised within the States with a minimum of 10% coming from the district itself.

I work hard, my business sales are down. Uncle Sam is giving me any TARP money.
I could use some business stimulus money or a lifeline until business improves.
Check out my small enterprise at: www.lumberkings.biz

And to all, I wish you success in your endeavors, remember we are the government, lets do our best regardless of political party affiliation to keep the politicians accountable. Let's make sure to end patronage and lets kick ass and vote our the corrupt and lazy.
GO PHILLIES

Sometimes being Senile isn't so bad, Politicians, taxes,The G.O.P. and the Auto Industry!

THE SENILITY PRAYER :
Grant me the senility to forget the people
I never liked anyway,
The good fortune to run into the ones I do, and
The eyesight to tell the difference.

Always Remember This:
You don't stop laughing because you grow old,
You grow old because you stop laughing!!!

Each day we wake up, get dressed for work (some of us)
We take the same bus,train, or car(fossil fuel transporter) to visit a client and park in the same garage near the office at $100 to $300 per week)
We are creatures of habit.
We find a comfort zone and we stay there, not venturing beyond the zone for fear of
"C-H-A-N-G-E."
That is the legacy many Government leaders have;nationally,in your State, and Locally at the Municipal level.
People are afraid of CHANGE, Politicians are afraid of CHANGE, after all they could lose their Cushy Pay, and the fancy benefits of the job.

WAKE UP AMERICA, THE POLITICIANS AT ALL LEVELS WORK FOR Y-O-U!, They are bleeding us dry with tax on-top-of-tax. Enough Already, Do we need another R-E-V-O-L-U-T-I-O-N.
The Boston Tea Party was a set-up for Independence.

Do you feel Free and Independent? when every time you look and turn around, their is the tax man in your face. Isn't time to eliminate the I-R-S? and make the tax system simple? I am up to the challenge and would like to be hired to re-write it, but if I write it, many wasteful government entities would be closed, Many federal agencies would shutter their doors and I would bring federal employment down by 50%,excluding military employees and recruits, within four years.
Those ex-gov employees would need to find work in the private industry. The jobs would be there for them but only the cream of the crop would be hired.

The National Republican Party is all but DEAD. The Democrat party is now in charge.
Will they continue to spend on lost causes like keeping the fossils of the Auto Industry alive for American Pride by pouring another 15 to 30 billion dollars into a losing proposition.

The UAW has now become a major stockholder/stakeholder in a shell company called "CHRYSLER" How will the UAW leadership reduce costs, How will they deal with their Union brothers and sisters, Will the UAW leadership work for free? I doubt it.

I believe it is a blunder by the Congress and the President to sink any more money into the carcasses of the American Automobile Industry, Its a money pit, a black hole.

I suggest the President and Congress Offer to every American citizen earning not more than $60,000 as an individual and not more than $120,000 as a joint taxpayer a government backed $6,000 credit card and the elimination of the federal income tax for the balance of 2009.

The US citizen will take the $6,000.00 and spend it on many consumer items, maybe even purchase an American made(union free) Honda, Hyundai, Toyota or VW. The money will be used to pay down rip-off credit cards with interest rates as high as 30%, and much more. My proposal of $6k to 12K per working family earning up to $120,000 will spark the economy because its "REAL SPENDING MONEY" not the measley $300 t0 $600 per family,which didn't do much for the economy.

The BEST AND ONLY STIMULUS PACKAGE IS WITH THE PEOPLE,(AKA CONSUMER), We the People will spend the money on necessities and personal luxuries. Money in the hands of Bankers is lost and will never be recovered, Money into the hands of the Auto Industry will never be recovered.

Economic Darwinism is being thwarted by keeping Chrysler and GM on life-support.
Out of the Ashes of the American auto industry may come 10 to 50 entrepreneurial automobile companies. I would rather have 10 t o 50 new automobile companies than the current/(past)- big three controlling America's economy.

We need move move beyond Fossil propelled vehicles and to do that, we need to bury two of the three fossils:GM and Chrysler. As for FORD motor company, they may need to merge with a European or maybe an Indian(India) Company to survive.

Be Senile, Smile and have a nice day,

Go Phillies

MAHONEY HR627/SCHUMER S.235 FALL SHORT OF CAPPING INTEREST RATES

Congress-women Carolyn Mahoney #HR627/Schumer S.235 Credit Card legislation falls short in many ways, most importantly is a CAP on the INTEREST CHARGED. I faxed the letter below to Congress women Mahoney with my thoughts:
Congress-Women Carolyn Mahoney (14th) NY
202-225-4709

Hello Ms. Mahoney:

I attempted to email you, but your website would not allow me too.

I don’t live in your district.

I have copied and pasted my message below:


YOUR BILL HR627/ S.235 SCHUMER

Your bill doesn't go far enough.
• We need a CREDIT CARD INTEREST RATE CAP OF 10% on all credit cards. A cap on late fees, surcharges to not more than $10.00 per payment period.
• We need a 14-day window to pay the bill beyond the actual due date
• We need to restrict credit card offering to those with a FICO score under 600 to not more than $300.00 to $600.00 until the individuals score rises above FICO 725.
• We need to eliminate the $15.00 to $30.00 charge when a person phones in a payment. We need to eliminate the $39.00 late fee, that is charged and much more.

YOUR BILL IS SHORT ON MANY POINTS. I NOTICED YOU COLLECT BIG BUCKS FROM THE REAL ESTATE, FINANCIAL AND INSURANCE LOBBY.
YOUR BILL APPEARS TO BE PRO CREDIT INDUSTRY BILL ALONG WITH SCHUMERS THAT WILL BE WATERED DOWN EVEN FURTHER.

I have 1-million plus Fellow Tweets spreading the word globally to stop using credit cards by Capital One, CITI, and others. They will know about your bill and S.235 in moments. 10:38 AM.

Joe

______

What is your thoughts. You can Fax Cong. Mahoney at: 202-225-4709
PASS THE WORD TO YOUR FELLOW TWEETS. STOP THE LEGISLATION ABOVE. IT IS PRO-BANKING INDUSTRY. IT ONLY SLAPS THEIR HANDS, IT DOESN'T RESULT IN REAL CHANGE.
Go Phillies

DOES ANYONE KNOW OF BILL S.392?

Senator Robert Menendez has introduced Senate Bill S.392 "The Credit Reform Act of 2009." I could not find any specifics in the outline of the Bill, when I visited govtracks.

It's time to cap interest rates on Credit Cards to 10%.
Don not issue credit cards to anyone with a FICO score below 600 and if a card holder has limited FICO score, limit credit line to $600.00 with a cap of 10% on the balance of their credit card. Limit all fees total to not more than $10.00 per statement.

End the bait and switch tactics of the credit card issuers and banks.

Pass the word for the MONTH OF MAY, BOYCOTT YOUR CREDIT CARD COMPANY. USE CASH ALL MONTH OR USE PAYPAL OR YOUR DEBIT CARD. SPREAD THE WORD THAT MAY IS BOYCOTT CREDIT CARD MONTH. LETS START THE MOVEMENT RIGHT HERE IN SOUTHERN NJ. LETS DO IT BEGINNING ON FRIDAY MAY 1,2009.

Go Phillies

Senator Chris Dodd Darling of Wall Street

I have taken excerpts from an article written by Andrew Miga of the Associated Press from his headline: "Dodd taps Wall Street for re-election."
I have added my own opinion along with the excerpts from the Associated Press story.

The Associated Press reported today by Writer Andrew Miga that "Wealthy Wall Street Executives may be outcasts to some Americans,but not to Democratic Senator Chris Dodd." ...The Senator is Chairman of the Senate Banking Committee and is begging for dollars. He is in a tight race in his home state of Connecticut.

Senator Dodd a five term Senator, has raised One-Million Dollars;$100,000 in the first three months of this year from Political Action Committees (PACS) from Financial,Insurance,and the Real Estate Organizations. Some of his donors include:
American Insurance Association, Mortgage Bankers Association, Vanguard, Oppenheimer Funds, Charles Schwab, The Real Estate Roundtable, and Ameriprise Financial and I am sure more PACS will donate. Dodd Raised $609,000 from individuals from companies Fidelity group, Citigroup, Citizens Financial,among the larger donors.

From Residents of his home State of Connecticut he raised a meager $4,250.00! WOW!,what does that say about Chris Dodd at home. He is the guy who will block any effort to limit credit card interest rates to 10% nationally, he is the Senator who will block pro-consumer efforts to eliminate costly ripoff fees and surcharges on your credit cards.

To all those who care, its time for Senator Chris Dodd to retire, even if it means a Republican will be elected in his place.
Contact the Senator and tell him you want Credit Interest Rates capped and limited to 10%. No surcharges on bills and no over the limit fees, and limit late fees to not more than $10.00 per payment period, along with a 7 to 14 day payment grace period for all credit card holders and users.

Remember CASH IS KING, USE PAYPAL, if your supplier doesn't use paypal, suggest they begin using Paypal, or buy from another supplier.

Go Phillies

LET'S VACATION ON THE BEACHES OF CUBA, YEH BABY!

It's about time we begin the process of bringing democracy and capitalism to the people of Cuba. While President Obama is literally offering the Carrot and Stick approach to opening up a dialogue with the Cuban leadership by allowing travel for only "Cuban-Americans", I look forward to the day (sooner than later) when I can travel to Cuba and vacation on the beaches.

Many who are opposed claim "Human rights violations", For those who are complaining about those violations, I want to know why we are Purchasing products and trading with China, Russia, Venezuela, Chile, Ecuador and many other nations who are violating human rights.

China on a daily basis is violating the rights of Tibetans, and Chinese brn intellectuals who are seeking 100% democracy and freedom, yet many global corporations based in the USA, have factories and many other corporations import from China.

To those who complain about opening the doors for trade and travel to Cuba, please take an inventory of the goods in your home and the apparel you wear, read the country of origin label, ask yourself how can you wear clothes or watch television or use your computer and printer, since they are all made in China.

Let's swing open the doors to CUBA, so the cigars will drop in price from $20.00 for a Cohiba to $2.00 each.

Go Phillies.

Selective Economic Darwinism (c)

Hello to Everyone who is listening to me. In the last day or so, The United States Government became the proud owner of General Motors Corporation. Well What's a few billion more paper dollars for a company that should have followed the many other businesses mostly small businesses that have failed, are on the brink of shutting their doors or are on life support without any "hand-outs" coming from the Obama administration.

Let me state that I supported Barack Obama for President, but it doesn't mean that I agree with the GM move. Last year it was apparent that GM and Chrysler were not going to make it. The UAW claims they have given back all they can give. Well the way I see it, Once all of their employees are out of work due to Americans not wanting to buy cars that are unreliable and where the quality has faltered not improved over the last few years. I.E. I own a Saturn ION II, It is my second ION II. My first ION II with 106,000 miles blew an engine, so I purchased another ION II, I paid more for the new vehicle that came with less features and is poor quality.

I will never purchase an "AMERICAN" GM,CHRYSLER,FORD brand vehicles again." The Government should have allowed GM and Chrysler to cease operations or file months ago Bankruptcy.

It seems to me the Obama plan is to be "SELECTIVE" in who fails and who succeeds, that is what I call "Selective Economic Darwinism" Selecting certain companies to succeed and allowing others to fail is a pure disruption in the ebb and flow of free enterprise, this disruption only causes more negative ripples down the line.

The suppliers who have to live with uncertainty of being paid, ordering raw materials, juggling who is laid off and who stays causes the ripple effect touch many industries and in my opinion disrupts the economy's efforts to bounce back faster, instead selective government interference hinders an economic return to near normalcy for 2009 and into 2010/2011.

In my opinion the demise of GM and Chrysler is going to happen and no government mandates and no government money is going to save either company, allow both companies to sink into the abyss, allow management to pull together the units that do show promise and through innovation and ingenuity allow both companies to rise out out of the abyss and Automotive technology companies with vehicles that are eco-smart and friendly and so innovative yet affordable for guys like me (JOE EMPTY WALLET) that we can afford to purchase a full or hybrid-electric vehicle.

Many including myself are feeling the pain of eating two cans of tuna fish and an increase in pasta consumption since the economy has turned, many are no longer eating the filet mignon, and sipping on expensive vodkas. I say open up the grill, throw on some cheap burgers,dogs and some ice cold beer and work through it.

I & YOU ARE ROCKING THE BOAT.

TAKE A LOOK AT THIS:
Today's News
Date Posted: 03/30/2009

Senator Sanders



Credit Cards Vermont’s independent Sen. Bernie Sanders is the main sponsor of the bill to limit credit card interest rates to 15 percent. Times are tough, says Sanders, and some consumers cannot get out from under their credit card debt. “While people are really finding themselves in economically desperate circumstances, one of the reasons is they’re paying 25 percent, 30 percent interest rates on their credit cards.” The bill, introduced earlier this month, has attracted five cosponsors. While some states limit borrowing rates, there’s never been any such national law, CNN Radio reported. AUDIO

Senator Bernie Sanders has picked up and listened to my cause and thanks to all your TWITTER Followers of my blog and my TWITTS. Spread the word.

WE WANT A 10% CAP ON ALL CREDIT CARD INTEREST RATES. IF THE BANKS REFUSE TO AGREE,
THEN USE CASH. CASH IS KING. CUT UP YOUR CAPITAL ONE CREDIT CARDS AND SEND THEM TO:

MR. RICHARD D. FAIRBANK
PRESIDENT
CAPITAL ONE
1680 CAPITAL ONE DRIVE
McCLEAN, VA 22102-3401

Tell him Joe Sent You. and tell him to recycle the plastic into something good.
tell him and any other credit card company that its 10%, or you will use cash or PAYPAL.
visit my blog at: jotronics.wordpress.com titled: JOE EMPTY WALLET

GO PHILS

CASH IS KING. DUMP YOUR CREDIT CARDS NOW.

Good Morning to everyone.Please read the article below. In my personal opinion Cut the Cards!

Big Credit Card Changes in 2009

CreditCards.com

posted: 15 HOURS 34 MINUTES AGO

comments: 0

PrintShare

Text SizeAAA

Skip over this content

Have you noticed anything different about your credit card account lately? Read the fine print. Really read it. Chances are your interest rate has crept or skyrocketed upward, a monthly fee has been tacked on or rewards point redemption rates diluted.

Chances are the new terms aren't good news for your wallet. Credit card users across the country -- including those who pay their bills on time and are good customers -- are being hit with a spate of changes in credit card account terms. Many of the changes have already taken effect; others kick in April 1 and still others, such as the return of routine annual fees, may be on the horizon.

Skip over this content

12 Credit Card Ch-Ch-Changes

jupiterimages

12 photos

Credit card users across the country -- including those who pay their bills on time and are good customers -- are being hit with a spate of changes in credit card account terms. Many of the changes have already taken effect; others kick in April 1 and still others, such as the return of routine annual fees, may be on the horizon. Changes have come quickly in interest rates, fees, minimum payments, credit limits and rewards -- and none of them favor consumers.

(Note: Please disable your pop-up blocker)

Changes have come quickly in interest rates, fees, minimum payments, credit limits and rewards -- and none of them favor consumers.

Interest rates
Although banks are scooping up billions in bailout money, or borrowing money from the Federal Reserve at as low as 0 percent, they aren't passing those savings on to consumers. Credit card interest rates have generally increased for all major card issuers and even doubling or tripling for consumers who pay their bills on time.

Credit cards interest rates are typically pegged to the prime rate, which has fallen from 5.25 percent a year ago to 3.25 percent now. But the national average rate for credit cards has actually risen over that period from 11.3 percent to 12.1 percent, according to the CreditCards.com weekly rate survey of large card issuers.

Fees
Card companies have become fee-addicted. According to industry consultant R.K. Hammer, card issuers raked in $19 billion in penalty fee income in 2008, up 5 percent from 2007. This year, penalty fee income is expected to rise to a record $20.5 billion.

Fees come in many forms:

In January, Chase began charging $10 a month to 400,000 customers who have large balances but little account activity.

Balance transfer fees used to be capped, so that no matter how much you transferred, you paid no more than $50 or $75. The caps have been dropped. The standard balance transfer fee has risen to 3 percent, and Bank of America increased that fee to 4 percent on certain offers.

Cash advance fees had been 3 percent, but Bank of America now has 5 percent cash advance fees for advances obtained through ATMs and at banks and 4 percent on direct deposit and check cash advances.

Analysts also predict issuers will reinstate annual fees as standard features on accounts.

Minimum payments
Chase increased the minimum payment from 2 percent to 5 percent for cardholders with large balances.

Credit limits
Many card issuers are slashing credit limits. Industry analyst Meredith Whitney predicts banks will cut credit card lines by a cumulative $2 trillion this year and $2.7 trillion by the end of 2010.

American Express has taken the most heat over slashing credit limits. Nearly half of its portfolio underwent a major overhaul that included cutting limits by a half or more. Other issuers have cut limits too, sometimes to amounts lower than the balances owed -- triggering over-the-limit fees on a few accounts.

Lowering credit limits also can cause immediate damage to the credit scores of consumers who carry a balance.

Rewards
Many rewards programs have become less rewarding. Citi's Thank You Rewards program thanked its customers by adding a $39 fee for all tickets redeemed through its CitiMiles program. AmEx's Delta Sky Miles "Always Double Miles" program on everyday purchases became "never double miles." The Hess Visa card's 10 percent introductory rebate for the first 90 days will be scaled back to only 60 days and the 5 percent gas rebate will be slashed to 3 percent effective April 1.

Here's $300. Go away
In a bold move, American Express is offering a $300 gift card to certain cardholders who agree to pay their balances in full by April 30 and close their accounts. Other issuers -- including Discover, Bank of America and Capital One -- have closed millions of inactive accounts over the past several months.

Behind the changes
Why so many changes? Why now, especially after the federal government has pumped billions into struggling banks to help bolster lending? Banking and credit industry observers say a tsunami of financial, regulatory and economic forces are driving issuers to drive up the cost of borrowing on credit cards. The recession, financial market turmoil, frozen credit card securities market, job losses and growing credit card payment defaults are fueling some of the changes.

Card issuers are also gearing up for 2010, when sweeping new changes in federal credit card regulations take effect and significantly limit how and when interest rates can be changed (called re-pricing). Congressional attempts to curb card industry practices are also looming -- with the pledge to enact consumer card protections even sooner than 2010.

"What you're seeing now is issuers basically doing some re-pricing of their accounts. They are basically readying themselves for the new world of post July 1, 2010. Certain issuers have actually announced significant re-pricing of their portfolios. That's something you're going to see over the next year," says Curt Beaudouin, vice president and senior analyst at Moody's Investors Service.

The New York credit rating agency used stress analysis to evaluate the strength of the Big Six credit card issuers -- Bank of America, Chase, Citi, American Express, Capital One and Discover -- and found a number of them will struggle to maintain profitability this year. The six issuers have 80 percent of the nation's nearly 1 trillion in outstanding credit card balances.

"I think the industry is obviously going through difficult times," Beaudouin says. "They are dealing with multiple headwinds simultaneously. 2009 is going to be a year to forget for the industry."

Pre-emptive strikes against consumers
Peter Garuccio, spokesman for the American Bankers Association trade group, acknowledges that credit card issuers are making pre-emptive strikes against that "new world" of regulation that's on the horizon. "Some of the changes that you're seeing in the credit card market are the results of changes to Fed rules."

"What banks are doing is taking prudent steps to insure safety and soundness to minimize their risk," Garuccio says. "They'll continue to take steps to minimize their risk."

"We are in a recession and the important thing to recognize is that the risks associated with all types of lending necessarily go up during an economic downturn," Garuccio says. "Those risks are amplified when it comes to credit cards because credit cards are the riskiest form of lending. There is no security backing up a credit card loan unlike a house or a car loan. The only security that a lender has is a borrower's promise to pay."

'A complex dance'
There's a real danger in what card issuers are doing. Fewer than one in 10 card users default on their payments or pay late, yet issuers in many cases are increasing rates on some of those nine good payers. While trying to shore up their balance sheets and profits in the short-term, they may be severing ties with good customers they need for long-term growth.

"There is outrage over these punitive terms being applied. Many consumers are saying 'I'm going to show you. I'm going to close this account,'" says Gail Cunningham, vice president of public relations for the National Foundation for Credit Counseling (NFCC), a national credit counseling accrediting agency.

Beaudouin, the Moody's analyst, says issuers are facing "a complex dance. It's a tricky thing."

"Those customers who can go elsewhere do," he says. "What you're left with are people who are not such good customers because nobody else wants them. Issuers are going through that now. They're trying to walk that line between revenue enhancement and not harming the franchise."

Payment industry consultant Bruce Cundiff says card issuers juggle many variables in deciding which cardholders to cut and which to keep. "They are trying to maintain the profitability of their portfolios. For different issuers that takes a different tack. They are asking 'What are the screws that I can loosen or tighten to maintain that profitability?' "

The trick is determining what factors -- job loss, credit utilization rates, spending patterns -- will make a good customer become a bad risk. "Where does the good turn bad and what are the catalysts to making a good cardholder turn into a bad cardholder? Where you set that bar is going to differ from issuer to issuer," says Cundiff, director of payments research and consulting for Javelin Strategy and Research, a Pleasanton, Calif., - based financial services consulting company.

Issuers are focusing on "keeping those good cardholders in your fold and making sure not only that those good cardholders are less risky but are also profitable cardholders," says Cundiff. He calls AmEx's $300 gift card offer to close customer accounts "shrewd" and predicts other issuers will follow suit.

He describes the bank's thinking process toward consumers this way: "It's worth more for us to pay them the $300 than to worry about whether they are a default risk."

Consumer advice
Consumer advocates warn credit card users to read and review all correspondence from their credit card issuers. It may not be easy reading, but it can have a big impact on family finances.

"They need to examine that statement to see if the credit line has been lowered, if the APR has been lowered and if their minimum monthly payments have been increased. That can be back-breaking," says Cunningham from the NFCC."If you're already living on the edge and you're scrambling to make the minimum payments, having it go from $200 to $500 is just a deal breaker."

As for those people who are closing accounts in protest of the changes, Cunnningham cautions against acting in haste. "They may win the battle but they will lose the war." Closing credit card accounts can lower consumers' credit scores, especially for older accounts demonstrating lengthy credit histories.

"Don't get mad at them and close the account," Cunningham says. "Leave it open. Only consider closing if they raise the APR or minimum payment beyond what you can afford to pay."

Actions consumers should take include:

Keep using your cards, moderately: Charge something small and pay it off at the end of the month. "Issuers are closing the cards that you're not using," says the NFCC's Cunningham. "The reason creditors are closing unused accounts is you're a risk to them. They are making zero money off of you. You represent nothing but risk to them."

Redouble efforts to make every payment on time.

Pay down debts to build a good credit score.

And then comparison shop -- good deals still do exist for those with good credit.

A new era of card use
The credit card changes also may signal what's ahead in personal lending. The days of easy credit with unsecured credit card debt are over, credit experts say. Recent jacked up terms are just shock therapy to wean Americans off of over borrowing.

Cundiff, the Javelin research consultant, says there's already evidence of a shift away from credit card spending to other forms of "pay now" payments, including checks and debit cards.

"You're already seeing the consumer begin to de-leverage, which is a good thing," says Moody's Beaudouin. "Maybe the industry will start moving back to the old way, which is to use your credit card sparingly as opposed to charging everything and running up balances."

TESA MOTORS ELECTRIC CAR GOOD IDEA... BUT?

Ok! How many out there can afford a $100,000+ sports car "all electric?" Well the company sold 1,000 cars with a backlog of over 700 vehicles. The US Department of Energy may loan Tesla motors $450-million dollars to build a factory for a $57,000+ vehicle. In my opinion, I believe an all electric vehicle should be priced for the "Joe bag "o" donuts crowd" me included, an all electric vehicle for under $20,000 retail.

In my opinion the Department of Energy should invest in All Electric Vehicle companies (AEV's), who promise by 2011-2012 to deliver a 21st century people's car, like Germany's Volkswagen created the famous Beetle. I believe the D of E, should loan money to the firms who will bring an American made 100% homegrown vehicle to the people.

Tesla motors market is targeted to the Rich, Famous and Elite, notice how they are seeking government loans for the upscale marketplace.

I suggest readers of my blog check out a pioneer in electric vehicles called ZAP.
www.Zapworld.com They have created electric vehicles in the "peoples price range."

I would like to purchase one, but the economy has hit my micro-small business too, and I cannot afford a new vehicle right now, unless President Obama, wants to borrow money from the TARP and buy me one for $12,000 to $15,000.00 What da you say, President "O?"

That's all for now folks, have a great day and remember. Keep your chins up, don't use Capital One credit cards or any credit cards, put them in a safe place for emergencies only.

Be Wise, Do as I do USE CASH ONLY or PAYPAL. Only purchase what you need.
Check out my website: www.lumberkings.biz for super prices on custom apparel for your business, your organization, etc. We only accept PAYPAL, Personal and business checks, and if you are local, CASH is fine too.

Go Phillies!
The Phils should talk to Pedro Martinez (5th starter). One-year contract

Philadelphia Mayor Mike O'Nutter Drops Bomb on tax-payers

Hizzoner Mayor Michael Nutter wants a temporary 33% hike in thePhiladelphia property taxes so he can keep all of the Patronage employees, employed! HE is using the excuse that if he didn't raise the taxes "temporarily" he would have to lay off 500+ police and a few inthe fire department.

Now it doesn't take a Rocket Scientist to look at each department and say "Why don't we begin reducing the hours of all non-essential municipal staff to 24 hours a week, and lay-off all non-municipal employees(Democrat & Republican Committee-People) from their jobs or cut them back to a two day work week, but have proof they actually do work.

City Council seems laid-back and quiet about all of this and you know why. They all want to be reelected again and again and again.

For those who vote in Philadelphia, this should be a "wake up call." for a new mayor and an all new face of city council. It's too bad Philadelphia is a one-party political machine. Real Republicans are powerless and are really only a handful of dedicated individuals, you can count them on your hands and feet. Republican party leadership is tied into the Democrat Bosses, in order to secure court patronage jobs and patronage jobs at the election bureau, so the Republicans run sham candidates year after year.

It's called survival of the few for Municipal contracts for those who have all the greenbacks.

The Republicans are extinct according to many citizens and many voters stay home because they know a vote for a Republican candidate is a wasted vote.

Will Sam Katz come back for another try? I doubt it. For a Republican to run for any position in Philadelphia, its all pain, and no gain. The only way to break through is to be a Democrat and run in the primary, have at the least 10-million dollars of your own money and you are still not guaranteed a victory, even if you are a Union Leader in a Union Town, you cannot snatch victory from the jaws of Boss Big Gentle Bear "BOB BRADY."

As the city continues its slide down the hill to Camdenization (Camden,NJ), We can only blame the elected members of City Council, some of the NO to Everything Neighborhood groups who have delayed the casinos and of course Mr.Mayor "NO" himself, Nutter for lost jobs and lost revenue the casinos would have brought to the city of "famous Crook Vincent Fumo."

As the city rolls onto deeper debt, and the taxpayer gets stabbed in the back again. I say to the taxpayer and voter, Get the lead out of those who don't vote, find a candidate and a slate of City Council candidates and run an opposition slate, but start now, not later.

Go Phillies!

DON'T USE YOUR CREDIT CARDS!!!

Hello Again:

How are things going. Do you best not to use your credit cards. (1) You save money, (2) You deny the banks dollars on high(loan-shark) interest rates (3) Cash is Golden. I stopped using my credit cards, I am using PAYPAL for online orders. Don't rent money anymore.

By not using your credit cards, the Bank Issuers will have to eventually give in and lower the interest rates and offer deals. I cut up my Capital One Card, sent it to the "recycle bin!"

BUSH-CHENEY DEPRESSION IS OFFCIALLY INTO FULL OPERATION

Has anyone heard the latest. The Depression is back courtesy of G.W.Bush and "DICK" Cheney.
Yes, Sir-Ree Bob, Circuit City closes all stores on March 8,2009. My business at: www.lumberkings.biz hasn't received any significant orders since July 7,2009.

How about all my readers, What is going on in your neighborhood?

PHILADELPHIA WHERE IS THE LEADERSHIP AT CITY HALL

Good Afternoon:

Where is the "Leadership in City Hall?" Philadelphia faces huge budget deficits and the Mayor, Hizzoner Michael Nutter hasn't responded with any real action. He wants to charge residents $5.00 a week for Trash pick-up as a fee ($260.00) a year in addition to the current high taxes on residents and businesses.

Is that all this guy can come up with, An experienced Council-person for many years and he can't figure out how to balance the city budget. HE AIN' T NO ACTION JACKSON.

I believe the Mayor fears layoffs of all of those Patronage employees, just like Governor Corzine of NJ. They both are scared to death about using their executive powers to cut municipal and state employee hours down to 24 hours a week, having them work on a mixed schedule so services aren't severely interuppted. Let me be clear, I am speaking about furloughs for non-essenial, non-emergency, and no plloice,fire or EMT/EMS being reduced.

Philadelphia has been losing money since the Mayor botched the Casino deals. I believe Mayor Nutter is afraid to make a move, he is more worried about re-election(himself) than he is abot his city.
Wow! and to think, we had problems with John Street.

Now I may not live in the city of Philadelphia anymore. But I am in the city everyday.

I TOLD ALL OF YOU ABOUT TRUMP STOCK

I have been stating since 2007, that Trump Entertainment could not survive and many continued to purchase common stock in Trump and hold onto their investments. The Stock was delisted from Nasdaq this past Friday and will now move to either the OTCBB or the pink sheets.

I have been preaching for the management to eliminate gaming at the Plaza and convert it to rooms and possibly condo's, placing their limited funds into debt reduction and the Taj Mahal in order to survive, again no one listened.

I now rest my case, soon the TRUMP name will be removed from the three building with the Marina hopefully going to Jimmy Buffet, he should lower his offer too $150-million, and Trump management should take it and use the money at the Taj Mahal and I still stand by with closing Trump Plaza to save Financial resources.

All the gaming properties should consider going back to a "LESS IS MORE" marketing mentality.
For example: Lower the table minimums on Roulette to $2.00, even a dollar minimum, lower the craps and blackjack table minimums, in order to bring players into the properties, and it will help the restaurants and lower the room rates to $25.00 a night, even during the summer months. BET LOW, WIN HIGH.

Atlantic City is battling the PA SLOTS and NY slots market. They need to respond with slots giving back a bigger win to the slot player and return to the days when "COMPS" were king for the little guy who spent only $100.00 at a slot machine,Roulette table, etc. I remember when you couldn't get near a $2.00 roulette table and a $3.00 black jack table at the Playboy,when it existed. I never missed a Tuesday night at the Roulette table at the Sands.

Atlantic City, while working hard to go upscale seeking out the "WHALES" has lost their regulars by eliminating many of the perks for the small dollar customers. The 11 casino's need to look at the marketing efforts of the past and bring those gamblers back.

Many who visit the PA slot "parlors" find the slots convenient, save gas, no uncomfortable ride on the bus ride to AC. Now it s time for the management at all properties to step up the service to the gamblers they lost with "NEW PERKS."

Any Casino property owner who would like to consult with me on bringing gamblers back to thier properties can reach me at: frontier22@aol.com.

So for now, thats the way ti is, Monday February 23,2009.

GO PHILLIES
www.lumberkings.biz