IT'S TIME TO DO AWAY WITH PROPERTY TAXES

Yes, it's time to do away with property taxes and government should replace property taxes with another system to raise money.  Actually, this is not a new idea.  In fact, in the early 1970s I was appointed chairman of a Citizens Advisory Committee to the Rockland County legislature in New York to study the idea.  I got the job because I prepared an editorial on the problems and unfairness of the property tax and broadcast that editorial on WRKL Radio in New City, New York.  My editorial got the attention of the Rockland County legislature.

Property taxes have no bearing on one's ability to pay and for that reason someone earning little money but lives in a home that has appreciated in value can be forced to pay a larger percentage of their income as tax than a wealthy person who lives in a less pricey home or rents.  Property taxes, for this reason, can be regressive.  In a recession, when incomes are down and families have a hard time making their mortgage payments, they still face property taxes with no relief despite their drop in income.

Renters generally pay no property tax, except for the portion of their rent that might go to pay the landlord's property tax bill.  But again, the tax has no bearing on the tenant's ability to pay, and some wealthy people who choose to rent can pay a very, very tiny percentage of their income as a property tax.

My idea back in 1972 was to replace the county's property tax with an income tax.  The income tax could be a surcharge on the state income tax or the federal income tax.  I think that would be the fairest way to tax all citizens -- and not just property owners.  My idea was for the county to determine how much money it needed to operate (its budget) and then determine how much in income tax was paid by county residents and businesses, and then add a surcharge onto the income tax bill to cover the county budget.

Would it work, or a better question, would it be popular?  Well, that's pretty easy to determine.  All the county treasurer had to do was determine what the average property tax bill was, and then determine what the average income tax surcharge would be under a new income tax system for the county.  Then we could see if the average property tax bill was larger or smaller than the average income tax bill.  The next test would be to determine the number of residents who would see their tax outlay go up with an income tax surcharge as opposed to the traditional property tax.  My guess was with more people paying an income tax surcharge (because not everyone owns property) the bill for property owners would go down and the county's tax burden would be shared more equally.

To be honest, the best part of the income tax idea is that rich people who live in modest homes or who rent would finally pay their fair share for county government, and property owners with low income or were struggling to keep their homes would be relieved of a tax burden that their lower income could not afford to pay.

The income tax system might even allow landlords to pay less in tax and that might even help lower rents for tenants.

Property taxes came into being in Europe when the main source of revenue and commerce was farming, and kings would tax their subjects based on their crops and harvests.  But we are not a farming economy anymore, and our homes do not produce income -- they are a shelter.  Taxing homes belongs in the days of knights and kings and castles.  In our economy and in our society, taxing should be based solely on the ability to pay.

If I were running for office, replacing the property tax with an income tax would be tops on my list.  It's only fair.

That's my opinion.  What do you think?  Send me an email with your thoughts.  Use our "contact" page in the index. 

EL POLLO LOCO MADE ME CRAZY.  IN 'N OUT SHOULD WATCH OUT, TOO.

I like El Pollo Loco.  I think the food is good, the service is good, the prices are right.  But at my local El Pollo restaurant, one of the counter workers who packs up to-go orders does something that irritates me-- and frankly I haven't had this happen to me before.  What this counter worker does is open up the styrofoam containers for the customers to look over their order.  He says he does it to make sure the orders are correctly filled.  I told him not to open my styrofoam containers because I trust that the order is correct and I don't want the heat to escape. 

I'm going to give you another reason why I don't want my containers opened to expose the food.  The "inspection" is performed at the public counter, with others standing around, sometimes sneezing and coughting, and I don't need my food container opened up in that environment.

I'd be much happier if my to-go order was packed into a closed container by the "grillmaster" and his assistants by the grill and not having the closed container opened amid public sneezes and coughs.

Come to think of it, In 'N Out my favorite hamburger chain, does the same thing with eat-in orders.  The burgers and fries and loaded onto a tray and kept on a counter with public access where those burgers and fries can be eaten up by all kinds of bacteria and viruses that come from nearby coughs and sneezes.  At the In 'N Outs I go to, there is usually a crowd waiting for their food at this very same counter so the chances of germ exposure are very high.  Honestly, I feel healthier having my food delivered to me through the drive-thru window at In 'N Out.

Of course I could just rave about how delicious In 'N Out burgers are-- but I think their fries are not as good as those that come from the Golden Arches.  What I want to say-- and I think this is more important-- is that In 'N Out does a very smart thing in its bathrooms (at least the men's rooms I've been in).  In 'N Out has a trash can right next to the bathroom door, so that when you open the door with a towel after washing your hands you can simply drop the paper towel into the conveniently located trash can.  I hate restaurant bathrooms, in fact I hate any public bathroom, that makes it impossible to wash your hands and then use a paper towel to open the door and then dispose of the towel properly. 

Below, on this page, I wrote about my complaints with restroom attendants.  So if you agree with what I wrote abover there is a "stuff" below.

OMG, WHAT THE 99-CENTS ONLY STORES ARE SELLING NOW

I am pleased to tell you that the 99-Cents Only Stores are now being featured on our Best Buys TV Show and here on our website.  We will be regularly updating you on their special deals as they come into the stores, and of course we will tell you about special seasonal selections.  For example, we have a report about their fruits and vegetables with exceptional values.

But I have to be honest with you-- when I went into the 99-Cents Only Store in Burbank to check out their Valentine's Day specials I was a bit surprised to see that they sell edible body paint in chocolate and with strawberry flavoring with stencils that are, let's say, appropriate for Valentine's Day lovers.  Perhaps I didn't know about this stuff because for most of my life I was diabetic and couldn't eat much chocolate, including painted-on chocolate.  Well, you learn something new everyday, and I learned that this romantic product is available at the 99-Cents Only Stores for Valentine's Day 2010 and at the price of 99.99 cents.  So yes, you can have your romance for less than a dollar in this recession. 

Be sure to check out the new page for the 99-Cents Only Stores called "Discounters / 99-Cents Only Stores" where we will also have videos of their deals.  And Happy Valentine's Day too!

HAPPY NEW YEAR 2010: THE APOPHIS ASTEROID IS COMING

Here's a happy thought for the new year 2010-- Russian scientists are talking about sending a spacecraft to intercept the Apophis asteroid and deflect it so it won't collide with the Earth.  Well, our scientists including those at JPL have known about the Apophis asteroid for several years now, and they say it won't wipe us out like that meteor did in the movie "Deep Impact," and it isn't headed our way like in the other Hollywood movie "Armageddon."  Both were good movies, but I liked "Deep Impact" better.

The closest that Apophis is supposed to get is about 18,000 miles from us.  Yikes, the Moon is 240,000 miles away.  And we have satellites in orbit around the earth that are 24,000 miles up there -- so 18,000 sounds awfully close.  But the scientists say "don't worry about this one."  What they are really worried about is other asteroids that might be on their way for a hit that aren't known about yet.

Several years ago when those asteroid-meets-earth movies came out, I did some "business news investigating" on the subject and I found out some reassuring information.  If an asteroid does smash down on your house, your house is insured under the "falling objects" section of your homeowners insurance.  And if an asteroid does smash down on your car, your car is insured under the "comprehensive" section of your auto policy.  That's good news.  But remember, if one of those big asteroids wipes out earth-- there won't be anyone around to process or pay your claim.  Happy new year.

THE CITY OF AZUSA GETS A NEW TARGET

I was pleased to be the master of ceremonies in early December, 2009 as Azusa City Officials and officials of Target broke ground for a new Target department store in the main commercial district of Azusa.  This new department store will mean several hundred new jobs once the Target is opened, and there will be hundreds of construction jobs while the store is built over the next year or so.  Next, there will be a new supermarket and train station and new offices and shopping in what will be the new central business district of Azusa.  It was a great afternoon as City and Target officials spoke to the Azusa residents about the new project and the new growth.  I congratulated Target for taking an initiative to help end the recession because the new store and spending and employment will have a big impact.  it takes spending to end this recession.  Watch the video of the event below.

WILL IT ROLL?  A NEW PASSENGER TRAIN BETWEEN VEGAS AND LOS ANGELES IS BEING DEVELOPED.

You can read more on our "Vegas Gaming News" page and click on the link below for a website about the project.

GET A $400,000 HOUSE FOR ONLY $60.

Of course there's a catch -- the $60 buys you a raffle ticket and the grand prize in the raffle is a house valued at $400,000.  The raffle benefits The Harbor Village Boys and Girls Clubs.  The house is in a private, gated community in Harbor Village which is near the 110 Freeway around West Carson and Lomita. 

Watch a video report about the house below.  This is a spacious four bedroom, three bath home, with a two-car garage, a private backyard, with hardwood floors, kitchen appliances included and granite countertops.  Just in case you don't need the house, the alternate first prize is $300,000 cash and there are 200 other prizes in the raffle. 

Raffle tickets are now on sale for the drawing that will be held June 15, 2010.  You can call the sponsoring organization at (310) 325-1200 or go to the website www.WinHarborVillageHouse.com for more information.

WHEN YOU HAVE YOUR OWN BLOG OR WEBSITE...

Many thousands of us, perhaps millions of us, know that when you have your own blog or website or Facebook account or other "social media website" you can write just about whatever you want for the world to see.  On this website I've taken the time to write about my kidney and pancreas transplant surgery and I hope you'll read that article.  You'll find it listed in the index on the left.

I was very encouraged to watch the news report about Steve Jobs returning to work at Apple and Jobs telling the assembled workers at Apple that he was so very grateful to be there, to be alive, and that the organs of a young man were made available through donation.  I also wrote about that, and I hope many of you will consider being a donor not only if you die, but a donor of certain organs such as a kidney which can be transplanted while you are still alive.

So having a blog or a website or a Facebook page allows someone like me to express thoughts for the greater good.  Steve Jobs doesn't need a blog for that -- because when he says something the media is immediately there to hear it, record it, and spread the word.

Then, when you have your own blog or website, you can say some things that are incidental to life that perhaps have been on your mind for a few days, or a few weeks, or a few years.

Now I'd like to share a thought with you that has been on my mind for a long, long time -- and I don't mean years, I mean decades:  What  happened to Jill Lillian Owen?

You must be asking: "Who is Jill Lillian Owen?"  Well, Jill Lillian Owen was the penpal I was given by the computer at the Parker Pen exhibit at the New York World's Fair in 1964.  Yep, that Jill Lillian Owen.

Let me tell you about Jill Lillian Owen and perhaps she might read this herself through the wonders and far reach of the Internet, or you might be able to tell me where she is today.  Jill Lillian Owen was selected as my penpal after I filled out a form at the Parker Pen exhibit.  The form asked for my interests and at the time they included collecting coins and stamps.  It turns out that Jill also collected coins and stamps.  At the time I was a nerd living in the suburbs of New York City, and she was a rocker living in London.  As she explained it to me, there were two major social groups among youngsters in London at the time -- there were Mods and there were Rockers and she was a Rocker.  But being a coin collector at the age of 12 in Rockland County, New York, I was a nerd.

Jill Lillian Owen lived at 25 Dyers Hall Road in a section of London called Leytonstone.  Yep I remember the address after all these years -- that's 45 years since the 1964 New York World's Fair.  We exchanged many letters over the next couple of years, and we even traded coins and stamps through the mail.  I remember sending her some John F. Kennedy half dollars from 1964 -- the first year of issue -- which were immediately hoarded and were very hard to come by.  And in turn she sent me some Churchill Crowns from England which honored Sir Winston who died about the same time as JFK.  We exchanged some stamps too.

And then, Jill Lillian Owen and I lost touch.  I don't remember when but it had to be sometime during junior high school or perhaps maybe as late as senior high school.  But I never forgot her name and that Jill Lillian Owen lived at 25 Dyers Hall Road, Leytonstone, London, England.

I even remembered that in 1978 when I had some free time on the Assignment Desk at CBS News in New York.  That's when I picked up the phone at the assignment desk and called information in London to see if there was a listing for the Owens at 25 Dyers Hall Road, Leytonstone.  There wasn't.  And there was no listing for a Jill Lillian Owen either, but by that time she might have been married and had a different last name.

So that's why I wrote this article -- to find out where Jill Lillian Owen is today?  And perhaps one day Jill Lillian Owen or a descendant of her or a relative of her will do a Google Search of her and might find this article.  They say the Internet is bringing the world together.  I wonder if it can help me track down Jill Lillian Owen.  Yes, I even looked at Google Maps and found out exactly were 25 Dyers Hall Road is, and I even got to see a picture of the neighborhood.   But my web search could not help me find Jill Lillian Owen.   I wonder if she still has those Kennedy Half Dollars from 1964 and if she remembered me all these years?

MY "PROBLEM" WITH RESTROOM ATTENDANTS

Sometimes I use a public restroom where there is an enthusiastic attendant.  He is so enthusiastic that as I am washing my hands he will place several paper towels on the counter next to me for me to use to dry my hands.  But, after washing my hands with soap and water (and using a hands-free or touch-free sink) why would I want to pick up paper towels from the dirty counter to dry my hands?

To be frank about this, after washing my hands with soap and water, I want to take paper towels from a hands-free or touch-free dispenser, like those dispensers with an "electric eye."  I definitely don't want to pick up towels that the attendant has touched and placed on the bathroom sink counter.

And since hygiene is so important these days, and handwashing is so vital to prevent the spread of diseases, I think all public restrooms should be required to have touch-free or hands-free urinals, toilets, sinks and towel dispensers.  Some of the casinos in Las Vegas and here in California have these and I thank them for that.  And I think all public restrooms should be equipped that way.

Now it may be hardship for existing restrooms to have their facilities and equipment changed, but I think all future construction should require hands-free devices.

And I have one more gripe: after washing my hands, I'm supposed to grab hold of a door handle to open the restroom door?  You gotta be kidding me!  So what I do, and maybe you do this too, is take a clean paper towel and use that to open the door.  So please have a trash can near the door so that I can throw my paper towel into the trash can after using it to open the door.  Thank you.

Am I a little nuts about this?  Send me an email and let me know your thoughts.  (Go to our "Contact Us" page for the email address.)

I PUSHED THE EMERGENCY STOP BUTTON ON AN ESCALATOR

It happened Sunday afternoon (August 9, 2009) at the shopping mall in Century City.  The young lady in front of me on a down escalator was wearing a long, blue dress and -- you guessed it -- the bottom on her dress got caught between the steps of the moving escalator at the bottom landing.  She was stuck -- the escalator would not "let go" and she couldn't pull her dress out of the mechanism.  

I saw she was "stuck" and I stepped around her so I wouldn't hit her, and while standing on the bottom landing I tried to help pull her dress out of the moving escalator -- but I couldn't.  That's when my wife said "watch out," and I looked up to see the escalator was now crowded with passengers and we were about to have the first wave of passengers hit us as we stood on the bottom landing, tugging at the caught dress.  That's when I stood up, found the "emergency stop button," lifted the shield over the button and pushed it.

The escalator stopped just in time -- and none of the riders hit the young lady who was trapped at the bottom, though some of the passengers on the escalator lost their balance but did not fall.

Security was called, and the young lady and her friend were safe and waited patiently for the dress to be cut or the mechanism to be opened to get the dress "unstuck."

On the ride home from the Century City mall, Shelley and I talked about the incident.  First, Shelley says she is always careful to lift a long dress several inches when riding on escalators and she said other gals wearing long dresses should remember to do the same.  Secondly, she said there should be a warning sign to watch loose clothing on escalators.  What came to mind for me is that riders on escalators should definitely hold onto the handrail in case there is an emergency stop -- and I know a lot of us don't like to touch the handrail because we are generally "germ phobic" and those handrails are not the cleanest.

In fact, about a year ago I was in a Las Vegas casino on a crowded escalator when the emergency stop button was pushed.  I don't know why it was pushed but when it was pushed a half dozen or so escalator riders lost their balance and fell.

Also, when you have completed your trip down an escalator, quickly walk away from the landing so that you make room for others getting off the escalator and you don't cause a pileup at the landing.

And one more safety point and this might be the most important, and it applied to this incident at the Century City shopping mall:  That emergency shut off button should be easier to see, and more clearly marked.  While the button was right where it was supposed to be -- at the bottom of the escalator and within easy reach of the bottom landing-- the shield over the button had faded so that the words indicating it was an emergency stop button were not easy to read.

From time to time we hear of horrible accidents that happen on escalators because clothing can get stuck.  Thankfully, no one was hurt this time.

IT'S TIME TO OPT OUT OF PHONE BOOKS

I'm writing this in the middle of June, and do you know what that means?  It means it's time for new phone books.  Today a Yellow Pages directory was dropped off.  The next phone book could be the white pages of company X, and then might come the white pages of company Y, and then the yellow pages of company B, and....  Well, you get the idea.  And you know exactly what I'm talking about.  Ever since the break-up of Ma Bell into the Baby Bells back in the early 1980's we've been swamped with competing telephone books and directories from all sorts of companies.  The publishing of phone books has become an American excess.

How many phone books does a family need?  And these days, with everyone going on line for movie times, and banking services and to make appointments at the Department of Motor Vehicles, who really uses a phone book anymore?  Gosh, I'm going to say it's been years since I looked at a phone book.  I use the Internet to get phone numbers or I call one of the free telephone information services.  By the way, the free information service I use is (800) 373-3411.

Now, let's get back to the phone books that I don't use and others don't use.  How do I know others don't use them?  Well, right now there is a pile of untouched phone books -- white and yellow -- on the front steps of several condo buildings and apartment buildings on my street.  I am sure many of these are going to end up in the trash, though some will be recycled.

Some folks are lazy, and they won't recycle their unused phone books -- or their old phone books either -- and they'll end up in landfills.  What a waste.

So maybe it's time that we impose a bit of regulation in this era of deregulation on the phone book business.  How about requiring that the phone book companies make a phone call or send a postcard to every business and home in their "coverage area" asking if the business or family wants the phone book that will be delivered in the next few weeks?  This would give families and businesses the chance to opt out of receiving a new phone book.  By giving businesses and families the chance to opt out there may be fewer wasted phone books, less waste in landfills, and a tree or two or two thousand might be saved.  And you know what?  The phone book companies might be able to save on printing and distribution costs, and when the phone book companies talk to advertisers about the circulation their books get, for once they'll be able to report their true circulation and true numbers of users.

Next, I'd like to have a way that we can opt out of junk mail, the same way we can now opt out of certain marketing mail and phone calls.

GET USED BOXES CHEAP

Do you need boxes for shipping, storing, moving, or just boxes to keep stuff in?  Well, Market West in Chatsworth is loaded with used boxes that it got from stores that liquidated paper supplies and office supplies and equipment.  And now Market West will sell you these boxes -- many in excellent condition -- for a fraction of what boxes might cost you at a box store.  And these boxes are already flattened out to make it easy to get them home in your car.  The large box which is about 18 inches by 14 inches by 16 inches sells for only one dollar.  Small boxes sell for about fifty cents each.  Call Market West at (818) 700-1650 or head over to the store, Monday through Friday, from 9 to 5, at 9839 Independence Avenue, Chatsworth.

By the way, it's almost impossible to get used boxes anymore because of regulations that require businesses to recycle their boxes.  So gone are the days of going behind a big store and getting their used boxes before they go into the trash.  Fact is, they don't go into the trash.  And since businesses have to recylcle their boxes, this is a great way to help in the recycling and to save money at the same time.

Now, I know it's a recession...

Generally, in a recession prices drop.  And yes, prices have been dropping.  Gasoline pump prices are lower, new car prices are lower, real estate is obviously lower, even jewelry prices and electronics prices are lower.  But with the exception of gasoline, I haven't been shopping for a new car, or a house, or jewelry or even a new TV.

But now I know it really is a recession -- because my hair dresser has cut the price of my haircut.  Yep, instead of paying $17 for a haircut, now I pay $15 for a haircut.  That's a price cut of 12% and I'll take it.  More importantly, this means that the price has been cut on something I purchase all the time -- and I get my hair cut about every three to four weeks.

Falling prices for houses, apartment buildings, jumbo jets, corporate jets -- heck, that means nothing to me.  But cut the price of my haircut and you've got something meaningful to discuss.

RUSH HOUR MADNESS IN WEST LOS ANGELES

It was 3:30 in the afternoon and already busy Wilshire Boulevard in West L.A. was busier than normal.  I was going eastbound on Wilshire approaching the intersection with Barrington -- one of the busiest intersections in the city.  That's when I saw the Metro bus stopped at a bus stop, with a long line of cars waiting behind it.

And the cars waited and waited and waited for the bus to finish loading and unloading passengers.  And the cars kept waiting-- because there were no passengers getting on or off the bus.

So here was a Metro bus parked at one of the busiest intersections in the city and taking up a lane that other cars could have used to relieve the building rush hour traffic.  What was going on?

To find out what was going on, I drove my car to a side street, parked, and walked back to the intersection of Wilshire and Barrington -- where the bus was still stopped.  I knocked on the bus doors and the driver opened the doors.  "Why are you stopped here?"  I asked the driver.

The driver told me that she was taking her "layover" there.  It was a bus stop, she told me, and she was assigned to take her "layover" there before picking up school kids.

"But you are taking up a lane of traffic at a busy intersection,"  I said to her.  "Couldn't you take your 'layover' somewhere else?"  No, she said, this was her assigned spot.

Well, that just didn't make sense to me.  If a bus driver has to take a layover, or a coffee break, couldn't the bus be parked somewhere else -- somewhere besides a very busy city intersection and somewhere out of a lane of traffic on one of the busiest streets in the city?

I called Metro's complaint line and they said they would investigate.  But I was told that it might just be Metro's policy to have the bus driver take the coffee break, I mean "layover" at that exact spot.  In which case, I would call that a bad policy.

What do you think?  Email your thoughts to me.

A DISABLED PERSON LICENSE PLATE ON.... A MOTORCYLE.

Look, I don't want to discriminate against anyone-- especially someone who needs special parking and a disabled person's license plate.  But the other day on Santa Monica Boulevard in West Los Angeles, the vehicle in front of my car was a motorcycle with a disabled person license plate.  Yep, what you might call a handicapped license plate.  Honestly, I found that a little surprising and puzzling.  Can a person who requires a handicapped or disabled person license plate handle a motorcycle?  Someone will have to explain this to me.  I am open to your comments.  My address and email link is near the top of this page.  I would like to write about some of your comments here.

Yes, it's me.  The photo comes from the 2005 Movie "Cocaine Cowboys" which documented the cocaine wars and the cocaine economy of Miami and South Florida during the late 1970's and early 1980's.  This was the real Miami Vice.  During the 1980's I was the business reporter for WTVJ the CBS affiliate and excerpts of my news reports are used throughout "Cocaine Cowboys" along with excerpts of some of my colleagues' reports. 

It was a well made documentary of what went on in South Florida when it was not out of ordinary to have bodies of cocaine murder victims dumped on street corners.  Yes, driving to Sunday morning brunch one day, we passed a crime scene just a few doors down from our house where Deputies were standing over two body bags.  I lived in Kendall at the time, and a lot was happening in my neighborhood.  One of my neighbors bought a house that belonged to a drug dealer who went to prison.  And one day, when the husband was at work, a gang of cocaine cowboys raided the house, took the wife hostage and ripped the walls of the house apart looking for hidden cocaine.  They didn't find any.  They didn't kill the woman for only one reason-- she told them she was pregnant, and for that reason alone they let her live.

If you get a chance, rent or buy the movie.  We found it for $15 on DVD.  In this particular clip I am reporting about a major bank in South Florida and I just interviewed a top executive at the bank and asked him if the bank was a "cocaine bank."

ZERO PERCENT CREDIT CARD OFFERS ARE BACK

They're back-- or maybe they never went away-- those offers from credit card companies to let you transfer balances or get a direct deposit into your checking account with a zero percent interest rate.

Yes, there are "catches" to this deal including the commonly known 3% fee tha the credit card companies charge for making the transfer or deposit that has 0%.  But there are differences among the offers.

For example, some card companies have a cap on the fee amount while some companies will charge the fee on the entire amount of the transaction.  Let's say you are getting a balance transfer of $15,000.  With credit card company "A" their 3% fee has a cap of $150.  But with credit card company "B" there is no cap on the 3% fee and on a $15,000 balance transfer the total transfer fee is $450.

How long is the 0% interest rate good for?  This will also vary.  Some credit cards might offer six months at 0% interest, while some might offer 9 months or a year at 0% interest.  What will also vary is how much you will have to pay each month while that 0% interest rate is in effect.  Yes, even with a 0% interest rate, the credit card companies will still want some kind of monthly payment and if you are late with that payment or miss it for two months your 0% interest rate deal could be snatched away from you and immediately replaced with a 28% interest rate, or a rate that is even higher.

Other questions to ask include, what happens to my payments after the 0% interest period ends?  Is there a pre-payment penalty?  What if I pay off most of the transfer balance but there is a small balance left at the end of the 0% interest period -- what happens then to any of the deferred or 0% interest payments?

And what will you do with the money?  If you spend it you are not using it wisely.  If you use it to pay down other credit cards with much higher interest rates you are making the correct move. 

Is it a good move if you take the 0% interest money and deposit it into a short term certificate of deposit?  Well, that will depend on the interest rate paid on the CD or money market fund, and if it covers the original balance transfer fee (remember, that 3% fee) and the monthly fees while the money is outstanding.

I heard of one credit card customer who took his 0% interest money -- some $80,000 worth -- and used it to buy stock, because the 0% rate was lower than the margin (loan) rate charged by his stockbroker.  Well, buying stocks with borrowed money is another set of problems, isn't it?

BE CAREFUL SELLING YOUR GOLD

We are constantly bombarded with advertisements from companies wanting to buy our "scrap gold" and old gold jewelry.  There are ads on TV and radio and the Internet -- and we even have ads like that here on this web site (check our "Gold Dealer" page).  But before you sell, be sure you have a good idea about what you are selling.

If you are selling U.S. gold coins minted before 1934 there is a good chance your gold coins are worth more than their gold content and that they have numismatic value over and above their bullion value.  If you are selling gold jewelry, make sure your gold jewelry is worth only its bullion or metallic value -- you don;t want to sell a valuable antique just for its gold content.

So, how do you check?  In the case of gold coins, go online to web sites such as www.pcgs.com or buy a handbook or price guide sold in coin stores or at magazine racks.  Don't forget the public library.  Then shop your coin around several dealers.

With jewelry, go to several jewelers, or even go to an auction house that has public appraisal days where you can get a free appraisal.

The worst thing you could do is to show up at some hotel where a company has set up shop for a couple of days buying gold coins and gold jewelry without first knowing what your items are worth.  And don't get caught up in the hoopla or excitement of a friend who is having a gold selling party which might resemble a Tupperware party.  If you don't know what your items are worth, you will never know if you got a fair price.

And in the case of jewelry be sure you know if you have 14 karat gold or 18 karat gold.  Fourteen karat gold is 58.5% gold while eighteen karat gold is 75% gold.  And your jewelry should be priced accordingly.

BUYING A CAR AT AN AUCTION

I got an interesting question that was emailed to me at AlanMendelsonTV@aol.com and the question concerned buying a car at an auction.  Here is the question:

"I understand that because the state of the economy, many people are getting their cars repossessed. My question is, are there any Car Auctions open to the public in Southern California where I may be able to purchase one of these cars? I live in the Inland Empire."

Here is how I responded:

"Good question.  Yes, there are car auctions... but let me ask you this:  Do you really want to buy a repossessed car that may not have had proper maintenance, may have undetected engine damage or extreme wear?  My experience has been the good cars get snapped up the by dealers... all the rest go to auction.  Heck, I doubt a repo'd car was well cared for and had its oil changes and tune-ups.  It's tough enough buying a used car... and to think about the added problems of getting one at an auction?  Yikes."

When buying a used car, you should always have it checked out first by a qualified mechanic.  Can you do that at a car auction?  I've covered car auctions for the TV news, and rarely to they let consumers even start up the engine.  You might also find that there are no keys for the car.  Look, if you can have the car checked out, then maybe buying a repo'd car at an auction might give you good deal.