raihan.us

15Dec/100

MOIL to have great listing; people can make money: Udayan – Moneycontrol.com

MOIL, Indias largest manganese ore producer lists on the bourses today. The manganese ore major received a huge response from investors for its initial public offering and was subscribed a massive 56.43 times. The price band per share for the issue was fixed at Rs 340-375.

CNBC-TV18s managing editor Udayan Mukherjee says while it is not as big an issue as Coal India; MOIL will certainly see a big listing. He suggests to forget the Rs 375 price band and to now look at Rs 500 plus.

Rs 550 is entirely doable today and we will have a big pop. I dont know how much HNIs got allotment and how much they will make post leverage but for every owner of the share, they are in for a very nice Christmas surprise today, he says.

He finds that MOIL did the issue at a bargain basement kind of a pricing.

He says, At Rs 375, it was too attractive. One needs to forget about the issue price now because you will not see it in the foreseeable future, although never say never. Rs 500 will become a base because the fundamentals are strong and the balance sheet is very good. It is a debt free company; it has Rs 100 per share of cash on its books. The company operates at a 50% PAT margin and in the last three-four years it has been growing at 30-40% every year CAGR.

With good growth, great balance sheet, strong cash generation and good reserves, it looks like a very good story to Udayan.

The grey market is indicating Rs 550 plus, you may easily get there. If we do start at Rs 550 for MOIL, the stock would be trading at something like 11 times FY11-FY12 earnings. The PE multiple would get to 11-12 and that is not hugely expensive. On an EV to EBITDA basis, you will get to about 6 times FY12 EV EBITDA and on a price to book basis we will get to about 3.5 times at Rs 550. If you compare that with other peers both, locally, NMDC, Coal India or with some of the global players, at Rs 550 you will get to those kinds of multiples which are globally sustainable.

Can it see some profit taking there? Sure it can, but Rs 500 will probably become a base for MOIL. It will take a bad market to break it below that. If you look at the fundamentals, the fair value of that stock is somewhere in the zone of Rs 500-600. You will have a great listing with people making money.

25Nov/100

Clip, Blog, Analyze, Make Money: Curate.Us Says Every Day is Black Friday – ZDNet (blog)


Black Friday is many things to many people.

It is the official start of the gift-giving panic attacks.

It is the day we shop for things that we really hope don’t suck.

It is also when retailers either take wheelbarrows of money to the bank, or their insides explode from stress ulcers because revenues are down, thus signifying the end of ChristmaHaunaKwanzaa and the world forever.

For online affiliates, like bloggers who use Amazon Associates, it can also be a day of disappointment and stress - or quick and easy profit.

One very enterprising startup has come up with a unique teaser that engages users with the seductive offer of making affiliate profits easier to come by. Content sharing clip site Curate.Us made sweet sweet love to affiliate eyes when they blogged that as of this week, Black Friday is now every day of the year.

Let me start by explaining what Curate.Us is, and you will see a rare moment of me singing sweet glittery rainbow butterfly praise for a startup. This is worth the price of admission alone, which to you is the cost of free, so sit tight and enjoy the precious moment. Soak it up. It will not last.

Curate.Us (formerly Clip.ly) is really neat: it’s a free clipping service where anyone (an account is not needed) can make a screencap or text quote clip that embeds into a blog post. It hosts the image and does all the work for formatting and linking, in addition to providing a customizable interface where users can resize, reformat and customize the clip.

Visit a site, make a clip (there’s a bookmarklet for Firefox, Safari and Chrome, with an accelerator for Explorer), and done. Once a clip is made, one click allows sharing on Twitter, Facebook and a few others - for those who visit Curate.Us while logged in.

Then Curate.Us gets down and nerdy, and keeps a history of the site’s clips form other people (thus recording website changes; clips are never deleted), and offers open access to analytics on clips.

It’s a one-stop shop, sort of like a web curator’s Tumblr - but for your own blog, with source linking built in. There is a WordPress plugin. Everything is automatic, including keeping content within copyright laws - and if a user pulls over 100 words into a quote, they get a gentle reminder about Fair Use.

But what in the stuck-in-the-chimney hell is this Black Friday business about?

Curate.Us is new and hiring devs, but the little elves currently in the shop made it so users can clip a product page, add their own affiliate code (such as Amazon, Think Geek, or any Commission Junction affiliate), post the clip and own the commissions. A shortlink is also generated. When someone clicks “Share the Link” they also copy over your affiliate code.

For those who warm themselves with seriously spiked eggnog, data analytics, conversion point information - and affiliate sales made easier - this is a toasty tool.

Talk back in the comments and tell me what you think: will you use Curate.Us for generating affiliate revenue? Or just let us know what to put in the eggnog this year here at the Tech Broiler: readers, we depend on you.

5Nov/100

Simple Ways To Make Money – GHeadshot Review and Bonus – Draft Excellence

Simple Ways To Make Money - GHeadshot Review and Bonus

GHeadshot Review - Make Money Online

Every day there is $1.6 Billion spent on the internet. A new software program named GHeadshot exposes a new process that will allow you to receive your share of all that money.

It employs free internet traffic techniques, and after the initial set up it continues to work for you. The very best part is that it requires under 1.5 hours to build the first time, and next you just let it run on it’s own.

The software package enables you to siphon off between $203.45 – $502.38 each day. The software truly works. The makers of the product, Jani G. and Dylan Loh stand behind the system with a full money back guarantee.

They provide a video that shows all the details of the program. Because of high demand the free video will only be published for viewing for a limited time. It will be removed very soon. If you are curious about this push button system, don’t wait and watch the video clip as it will answer all the questions.

Click Here to Watch The Video!

And remember all the risk is on their side, because they offer a 100% money back guarantee and full refund if it does not work fo you.

Related Posts

14Oct/100

Can you be creative and still make money in Australia? – Sydney Morning Herald (blog)

Entrepreneur Megan Duckett.

Entrepreneur Megan Duckett.

In my line of work, I'm surrounded by creative entrepreneurs. Artists who are trying to carve out a living from their artistic pursuits. Writers and authors who would love to earn a full-time income from their words. Accomplished actors who are in between roles on stage or screen and who earn income through other activities. They need to straddle the creative side of their life with the nuts and bolts of running a business. But it doesn't always work.

It's not uncommon to find creative artists at the lower end of the income scale. In fact, in some cases it's almost a badge of honour, as if the only way to be truly creative is to starve in a garret and suffer for your art. Personally, I don't find that especially appealing. Particularly when it doesn't have to be that way.

Being creative isn't enough

Megan Duckett runs Sew What?, a business that sews theatrical draperies and fabrics for concert tours and special events. Duckett started the business 20 years ago, after landing in the US from Australia. She was 19 and wanted to work in the music industry. With a knack for sewing, she began doing it as a weekend hobby. However, in 1996 she realised that the income from her weekend hobby exceeded the income from her full-time job. It was then she decided to quit her job and focus on her business.

Surrounded by creative people herself - she has draped concert sets for the likes of Madonna, Britney Spears and Lady Gaga - she's an example of someone who has successfully turned her creative passion into a viable business. However, it was not without some harsh lessons in business along the way.

Nine years ago, Duckett pitched to a major client. Her client told her that she ticked the boxes on all counts. The price was right, the product was right, the clients liked her, and so on. She had all her ducks in a row - except for one. The client give the job to someone else and told her: "The only reason you didn't get the job was because you don't have a website."

Duckett says: "I didn't think that we needed one. I felt that people knew what we did and we did it well. But I learnt a lesson that your website gives you credibility. So I went out that weekend, purchased a program and built a basic website. I rang the client on Monday morning and told her I had a website - but it was too late. They had given the job to someone else."

Since then, Duckett has grown her business to 45 people. This week, she was announced by Dell as a face of its Take Your On Path campaign featuring Australian entrepreneurs.

Duckett says that three key factors have helped take her creative business to the next level: partnering with a technology company (Dell), implementing a firm client credit policy and overcoming that language barrier. Many of her seamstresses do not have English as their first language so Duckett created customised software that spits out pattern instructions in the language of the seamstresses. This has reduced wastage of fabric from 15 per cent to five per cent.

While smart business decisions are important, Duckett says: "It's important never to lose your creative mojo – whatever it is that really fires you up, whatever your craft may be. I would encourage others to deliver their craft in a way that their clients are expecting. Be willing to go and meet them there and allow them to get your craft from you in a way that may not feel natural."

Will "business" quell your creative genius?

Too often I hear cries like: "I just want to concentrate on being creative. I don't WANT to be bogged down with accounting." Or "I'm much better using my right brain. I love ideas. I'm just not as good using my left brain." Or "I just want do my creative work. People should judge me on that, not on whether I can fill in an invoice correctly."

It drives me bonkers to hear this. Sure, I agree that it's important to give yourself enough freedom for your creative genius to spark. But I can't stand it when I hear it being used as an excuse not to deal with sales, marketing, accounting or organisation.

Activities like sales, marketing, accounting or organisation may not be your forte. But who in the world is going to know about your creative talents unless you do some sales and marketing? And how will you optimise your tax position if you have no clue about what to do? The reality is that none of these functions are rocket science. They don't take long to figure out. It's not like studying nuclear fission.  They are core functions that any entrepreneur has to understand.

I'm not suggesting that you have to become a marketing guru or a tax expert. You just need to understand the basics that any small business owner should. Because when you have that foundation, you can embark on your creative pursuits with far more certainty of your financial position. You can also estimate your likely revenue based on the marketing that you decide to do.

I've heard creative entrepreneurs tell me that they don't understand superannuation so they don't contribute. For goodness' sake, what is there to understand? You pay money into a fund so that you can put it away for retirement. You fill in some forms to make it happen. It's not even hard. But they throw their hands up in the air and say: "I just don't have time for it."

Burying your head in the sand isn't going to make the buying public magically come along, recognise your talents and scoop up your work.

Are you abdicating responsibility?

I know some creative entrepreneurs reading this will say that they just want to outsource all the functions they don't want to do. They want someone else to do the sales and marketing, someone else to do the accounting and someone else to organise their schedule and their life.

That's a lovely fantasy. But it's an achievable fantasy if you can afford it. However, if you are struggling to pay your bills and can't afford to outsource it because you haven't yet established a strong revenue for your business, then the only person left to do it is ... you. The Accounting Fairy isn't going to creep in overnight and do your business activity statement while you sleep.

What does the creative class look like in Australia?

My colleague once said to me: "I love how, in Los Angeles, it's the creatives who have the big mansion and drive the fancy cars. Here, it's the bankers and the CEOs. I'd love it if our creative class could be recognised that way."

Okay, Cate Blanchett may well have a fancy mansion in Hunters Hill but most creative entrepreneurs don't live like Our Cate.

It got me thinking: what does it take for creative entrepreneurs to be successful in a sustainable business that also fosters their creativity? This is what I came up with.

1. They value their work
2. They are professional
3. They run their creative pursuit like a business
4. They don't shy away from understanding the non-creative areas of their business
5. They realise they can do this without compromising their creativity.

The bottom line is that creative entrepreneurs who shun the "business" side will struggle with longevity and will struggle to survive. But if you are serious about making your creative mark on the world, you'll know that "creativity" and "business" go hand in hand.

As a wise man called Jon Bon Jovi once said in a scene from the documentary When We Were Beautiful: "I'm the CEO of a major corporation who has been running a brand for 25 years."

 

 

14Oct/100

Economists Say High-Speed Rail System Won’t Make Money – Patch

California's proposed high-speed rail project is neither viable nor attractive to potential investors, according to a report released Monday night by a team of Silicon Valley researchers.

The 100-page study, "The Financial Risks of California's High-Speed Rail Project," found the CHSR business model to be deeply flawed, concluding that it relies too heavily on federal grants and does not adequately address risks posed by fluctuating ticket prices.   

Authored by Dr. Alain C. Enthoven, William C. Grindley, and William H. Warren, the study was reviewed by more than  70 peers, including executives, economists, venture capitalists, and financial and technology analysts, all of whom determined that the CSHRA's projections are not credible.

"When an investor looks at an assertion by the CHSRA that says you're going to earn an operating surplus of $370 million in the first year of operations and $1.5 billion profit by the third year, they shake their heads and smile," said William Grindley, former World Bank analyst. "It doesn't pass the smell test."

The report also found that:

  • Unmet commitments to the California Legislature diminish the project's credibility.
  • The CHSRA's ridership forecasts, upon which the system's financial outcome are determined, are too optimistic.
  • The CHRSA's Phase I capital costs--the price of building the train from San Francisco to Los Angeles--should be significantly higher than have been stated.
  • The CHSRA's operating expenses are too low.
  • CHSRA's job creation forecasts are too vague and too large to be credible.

Much of the project's business plan rests on the assumption that as population increases, so would the number of people who ride the train. But the Legislative Analyst's Office, the State Auditor, and Institute for Transportation Studies (UC Berkeley) in separate reports took issue with the business plan and the Authority's ridership projections, casting doubt upon the number of tickets that would be sold, which in turn would skew the project's profitability.  

This new study expounds upon that, calling the CHSRA's revenue estimates "unreasonably optimistic." One key lynchpin to attaining sustainability, for example, is the Authority's ability to secure billions of dollars in additional funding from the federal government.

CHSRA Director of Communications and Outreach Jeffrey Barker agreed that the project's future indeed depends on obtaining more federal funding.

"The Authority has been saying for a year that it's critical we receive $17 to 19 billion in federal funding," said Barker. "The fact that we aren't sitting on $43 billion isn't a 'report finding' but a statement of fact."

The researchers used assumptions in the HSRA business plan to create a financial model and analyzed numerous scenarios, which combined different types of financing, as well as different types of risk for investors.

The 2009 HSRA Business Plan assumes that local governments or private investors will supply the additional funds necessary to complete the project, the cost of which has bloated to $43 billion.  Some speculate that the project may eventually cost up to $100 billion.

According to this new report, the sources of funding required for the plan to become self-sustaining are:

  • Federal Grants $17-19 billion
  • State Grants (actually Prop. 1A bonds) $9.95 billion
  • Local Grants $4-5 billion
  • Private Debt or Equity Funding $10-12 billion

Palo Alto Mayor Pat Burt said the report is unique in that it is the first major, peer-reviewed economic analysis of the rail project to date.

"These are serious people with strong professional backgrounds, and many of them highly regarded in their field," said Burt. "They appear to have done a thorough analysis and it deserves to be treated seriously."

The City Council of Palo Alto, which once enthusiastically supported high-speed rail, has recently turned against it, voting to file suit over what it believes to be a flawed environmental impact report.

Monday's report, according to Mayor Burt, is another hurdle for the rail project, and expresses a lack of confidence that he, and the council, have come to posseses in light of recent events.

"Their plan is counting on this being the most successful high-speed rail system ever developed," he said. "And if it isn't, the whole thing fails."

 

For the complete report, peruse the .pdfs to the right of this article.

14Oct/100

Twitter looks @making money, ad plans unveiled – Hindustan Times




Twitter at last looks serious about making money.
In the last two weeks, the company has introduced several advertising plans, courted Madison Avenue at Advertising Week, the annual industry conference, and promoted Dick Costolo, who has led Twitter’s ad programme, to chief executive — all signs

that the microblogging site means business about business.

Another telling sign of Twitter’s newfound interest in advertising is that 20 of the company’s 300 employees work on advertising — against only one person just three months ago.

Many say there are questions to be answered and experiments to be done before Twitter becomes a must-buy.

“Agencies are uneducated, brands are uneducated and to a certain extent, Twitter is uneducated,” said Ian Schafer, chief of Deep Focus, an interactive marketing agency.

Advertising Week was a debut for Twitter, as Costolo shared the stage with executives from Google and Facebook and wooed ad executives in the audience with a clear message.

“We’re definitely beyond the experimentation stage. It’s working,” he said.

Twitter started with six advertisers and now has about 40, including Starbucks, Ford and Microsoft. Costolo said it would have more than 100 by the end of the year.

14Oct/100

How to make money in today’s world – WLOX

BILOXI, MS (WLOX) - In an American economy still beset with uncertainty, an economic symposium later this morning hopes to offer clear-cut information by giving South Mississippians information for making the right decisions for economic success.

The Hancock Bank Gulf Coast Economic Symposium begins this morning and will spotlight three critical issues: tax legislation; health care reform; and coastal real estate values. This year's line-up of speakers includes American economist and best-selling author, Todd G. Buchholz.

"We at Hancock Bank know how crucial it is for all of us to understand the economic factors and governmental actions that affect Gulf Coast residents and businesses. We are honored to present this look at national and regional influences to help sustain our area as one of the country's most resilient, influential corridors for commerce and opportunity," said Hancock Bank President and Chief Executive Officer Carl J. Chaney.

The symposium begins at seven this morning at the Mississippi Coast Coliseum Convention Center. WLOX News will be there and later on WLOX.com and WLOX News we'll share some of what the experts say you need to do to succeed in today's economy.

Copyright 2010 WLOX. All rights reserved.

14Oct/100

Unemployment And Economy: Feds Making Money as Usual – US Money Talk News


By
Jeffrey Paulsen
on October 11, 2010, 7:06 am

Posted in

Finance News

The Federal Reserve doesn’t really manufacture money in the literal sense. It is mainly an issuance of money via technology. The Federal Reserved takes the U.S. Treasury Bills and transfers money to government accounts. There is now more money in circulation once it is spent. Ordinarily this would cause inflation because there is now more money in circulation. In the future it will. But for now it just pumps money into government bank accounts or any entity the Fed is bailing out.

Good Investments

The money that was created by the Fed for the Treasury is used for expenditures such as, payments for union stimulus jobs and for many other wasteful activities. Included in this are legitimate appropriations like Social Security payouts and defense. The banks too get money from the Fed at near zero rates that they are not lending out.

Why should they? A home or business loan can default. But investing the free money in low interest guaranteed Fed Bills returns a lot of money when huge amounts of debt is purchased. The banks might also invest in other instruments that assure them of easy earnings.

Federal Reserve Bank

The original intent of the Federal Reserve Bank was currency control so inflation would not get out of hand. In addition, they were the lender of last resort. Their job was never to bailout banks and other businesses. These are new times.

The creation of money sounds better when it is called Quantitative Easing. This is the aforementioned process of creating money out of thin air to purchase government or business debt. Eventually inflation catches up with it all. The money invested in government or bank debt crowds out private enterprise money and any creation of jobs is illusory.

Related posts:

  1. Congresman Ron Paul (R-TX) And The Gold Standard
  2. How Soon Will It Be Before Inflation And Higher Interest Rates Hit America?
  3. Unemployment And Economy: China and US Go head To Head On Currency
  4. What Is The Job Of The Federal Reserve?
  5. Complaints On Banks: Better Business Bureau May Be Of Some Help

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14Oct/100

How will Google make money with self-driving cars? – Computerworld (blog)

Google this weekend revealed an amazing technological breakthrough: A car that can drive itself. The revenue possibilities of the invention illustrate the new business realities of the Internet age, where simply selling things seems old-fashioned and quaint.

Google unveiled its work on automated cars Saturday on the official company blog. The cars drove from Google's Mountain View campus to its Santa Monica office -- a distance of about 350 miles, according to Google Maps. The cars drove San Francisco's winding Lombard Street, crossed the Golden Gate Bridge, the twisty Pacific Coast Highway, and around Lake Tahoe. The cars have logged 140,000 miles.

"Our automated cars use video cameras, radar sensors and a laser range finder to 'see' other traffic, as well as detailed maps (which we collect using manually driven vehicles) to navigate the road ahead. This is all made possible by Google’s data centers, which can process the enormous amounts of information gathered by our cars when mapping their terrain," Google says.

Google used a team of researchers with previous experience in the DARPA Challenges, autonomous vehicle races organized by the U.S. government.

"Safety has been our first priority in this project. Our cars are never unmanned. We always have a trained safety driver behind the wheel who can take over as easily as one disengages cruise control. And we also have a trained software operator in the passenger seat to monitor the software. Any test begins by sending out a driver in a conventionally driven car to map the route and road conditions. By mapping features like lane markers and traffic signs, the software in the car becomes familiar with the environment and its characteristics in advance. And we’ve briefed local police on our work," Google says.

Stakes are huge

The stakes for the human race are huge. More than 1.2 million people die in road traffic accidents every year, according to the World Health Organization; Google thinks it can cut that number by up to half, as self-driving cars become more reliable than autos with flesh-and-blood people at the wheel. Google says self-driving cars will "transform car sharing, significantly reducing car usage" (I'm not sure how that would work. If cars are easier, more convenient, and safer to use, wouldn't that make people drive more?).

"In terms of time efficiency, the U.S. Department of Transportation estimates that people spend on average 52 minutes each working day commuting. Imagine being able to spend that time more productively," Google says.

TechCrunch's MG Siegler acknowledges the robo-car is "world-changing awesome." But then he wonders how the technology might make money.

At first, this seems like a dumb question. You'd make money off a robo-car the same way that inventors have made money off ideas for the last 500 years: Build them and sell them. Or, more likely, license the technology to carmakers, who would build the tools into their vehicles.

However, that's not the Internet way of doing things. It's not the Google way. The Internet way is that you don't sell the thing itself, you give the thing away, while making money off of secondary revenue sources and aftermarkets, usually ads. You don't charge people for search, or email, or mapping services, or web-based office suites like Google Docs, or computer operating systems like Chrome. All of these tools are products that other companies have made billions of dollars selling. But Google mainly doesn't sell those, it gives them away, and makes money selling ads to people who use the services. Google and other Internet companies don't work that way out of altruism, they do it because it's better business.

Where's the money?

Siegler points to secondary revenue opportunities for a self-driving car. What if the 52 minutes per day that Americans spend commuting could be spent searching Google, watching Google TV, and using Gmail, all provided with Google advertising. That would be a pretty penny, and it's making money the Internet way.

Indeed, I saw the face of this future just last week, when I took Amtrak from San Diego to Los Angeles. It's a 2-1/2-hour train ride, and many people do it quite frequently, but they seem quite content to sit in the comfortable Amtrak chairs, working away on their wireless-connected laptops and taking meetings on their mobile phones. The train ride isn't dead commuting time, it's a busy part of their days. What if you could have the same kind of productive, pleasant experience in your car? That's part of the promise of self-driving cars, and part of the revenue opportunity for Google.

What other secondary markets and aftermarkets might there be for self-driving cars?

For more on the breakthrough, the New York Times has an overview on Google's self-driving cars, and a report on the technology Google used for its achievement, as well as a demo video.

Mitch Wagner Follow me on TwitterVisit my LinkedIn pageFriend me on Facebook is a freelance technology journalist and social media strategist.

14Oct/100

Banks look to profit from their customers – Tulsa World


Banks are in the business of making money, and even though bank employees seem friendly and eager to help, the bank is still looking to make profits from its customers, says the Money-Rates.com website. Helping them with their finances is probably not very high on banks' priority lists, it says.



Here are some things to remember when doing business with banks, according to Money-Rates.com.



Entire deposit not available immediately: Banks usually allow customers access only to the first $50 or $100 of deposits. With a $500 deposit, $400 of it might not be available until the next business day, or even later. Consequently, customers can still bounce checks or overdraw accounts and be charged overdraft fees - even though they made these deposits thinking they would cover checks written on them.



Post-dated checks mean nothing: Customers writing post-dated checks trust their recipients not to cash them ahead of schedule, but banks are likely to run them through without looking at their dates. Even if tellers do look, banks have no legal obligation to honor their dates. They process all checks and collect overdraft fees when they bounce.



Online account balances not always accurate: Customers checking their accounts online for balances soon learn that information is not always up to date. Account information can be inaccurate or not reflect the way transactions were actually processed. Though online accounts can be good guides, they are not always accurate, and customers playing


close to the edge often find themselves overdrawn - and paying overdraft fees.



Bankers are sellers: Bankers tell customers they are offering great products or services, but they still are salespeople who want to sell more products so their employers can make more money. Banks now offer insurance, retirement accounts and more services beyond the standard checking and savings accounts and home loans of yesteryear. Banks pitching products or services are concerned more about their revenue than customers' finances.



Shop for financial products and services: Many bank customers go to their banks for loans and other products for the convenience of keeping all financial accounts at one institution. Many assume, as they've been loyal customers, they will get good deals. This is not always the case. Banks might not have the best interest rates on home equity loans or the lowest management fees on retirement plans. It is best to shop around for the best deals and notify bankers when they find better deals. Banks should compete for business and not just assume they will have it, as usual.



National banks trump branches: Many bank customers assume they're getting a personal decision when talking with their bankers in person - that bankers can make decisions locally. But many local banks are branches of national banks, and it is likely decisions will be made at the national level. Only smaller, community banks with local owners have the option to make local decisions.



Overdrafts help banks



The article "Banks make $38 billion from overdraft fees," published in The Huffington Post on Aug. 9, 2009, says the interest banks earn on loans and credit cards "pales in comparison to the fees they charge" for account overdrafts.



Big money makers: Bankers don't tell you that fees are their biggest money maker, says the Money-Rates.com website. The $38 billion figure is larger when considering other fees: charges for out-of-system ATM use, paper statements, not maintaining minimum balances, etc. Fees are more valuable to banks than anything else they do.



Get them waived: Some banks will waive one or two fees per year just when customers ask. Though such policies exist, bankers aren't forthcoming about them, Money-Rate says. Banks make more if you just pay the fees, fuming in silence. Ask about the fee-waiving policy.



Overdraft protection opt out: This doesn't apply to checks, but the Federal Reserve changed the rules on debit cards and ATM transactions giving consumers the right to "opt out" of the automatic "overdraft protection" plans banks push on customers. See the Fed's fact sheet "New overdraft rules for debit and ATM cards" at tulsaworld.com/fedoverdrafts



Opt out: New Fed rules on standard overdraft practices went into effect Aug. 15 for debit and ATM cards. Now, before banks can approve overdrawing transactions, consumers must "opt in" for them to do so – banks can't just automatically charge $35 for debit and ATM overdrafts anymore. See tulsaworld.com/moneyrateschecking



Consumers choosing not to opt in will find their overdrawing debit card and ATM uses denied – but won't be charged a fee. However, personal checks and automatic bill payments consumers schedule are not included in the new rules.



Banks can still approve overdrawing checks and automatic bill payments for mortgages, rent and utilities - and charge overdraft fees.



Original Print Headline: Electronic money has its price


Tulsa World consumer writer Phil Mulkins wants to know which topics interest you most. Call 699-8888, e-mail your interest to phil.mulkins@tulsaworld.com, or mail it to Tulsa World Consumer, PO Box 1770, Tulsa, OK 74102-1770.

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