Picking a Medicare plan Terry Savage: Here we go again. Starting today, seniors have six weeks to sign up for another year of Medicare Part D -- the prescription drug benefit -- that goes along with Medicare Part A (hospitalization), Part B (outpatient and doctor costs) and Medigap (the supplement that covers other costs including co-payments and deductibles). It's a must-do project, even if you're among the few seniors who don't currently take prescription drugs.
Cost of downtown parking 'skyrocketing'
In Chicago, $30 can buy you about eight hot dogs, with fries. Or a large stuffed pizza and a bottle of wine. Or three first-run movie tickets. Or you can park -- for one day -- in a downtown garage. Thirty dollars is the median price for daily parking in downtown Chicago -- up 20 percent, from $25, since 2005, according to the authoritative Colliers International parking-rate survey.
Dear Fixer: In April 2006, I ordered DirecTV. My main concern was whether my picture-in-picture would work, and I was assured it would. I was told I had to pay immediately with a credit card, so I did and was charged $126.68.
Dear Fixer: In May, I attempted to switch our Internet provider to AT&T. They sent me a standard modem, and upon receipt of the modem, I called AT&T to get help with hooking it up.
Peoples Gas and North Shore Gas are encouraging low-income customers having trouble paying their gas bills to apply for the companies' Share the Warmth grants.
Market madness continues Terry Savage: If you only saw the closing numbers on Thursday -- the Dow Jones industrial average registering a gain of 552 points -- you missed all the drama. Shortly after the opening bell the market headed lower, plummeting toward a 5½ year low at midday. Then suddenly the market reversed course.
Average gasoline prices in the Chicago metropolitan area fell to $2.45 a gallon Tuesday, falling below the average $3.63 a month earlier and $3.21 a year ago, according to AAA-Chicago Motor Club.
A survey of college students shows three-fourths are planning a spring break vacation next year, but about half are budgeting $500 or less for their trip, according to STA Travel, a student travel organization.
Monday, November 10, 2008
Why the Wall Street nose-dive? Terry Savage: The stock market is always right. Nonetheless, I must admit to being more than a little annoyed that the stock market greeted the election results with a two-day nose-dive of more than 929 points, the worst two-day performance since 1987. On Friday, the market staged a small rebound of 250 points. Still, the markets made their point.
The stock market is always right. Nonetheless, I must admit to being more than a little annoyed that the stock market greeted the election results with a two-day nose-dive of more than 929 points, the worst two-day performance since 1987.
Consumers get creative to pinch pennies
Hilary Ford is less concerned with pleasing her palate than with keeping cash in her pockets these days. She's quick to do leftovers for dinner. "I will eat whatever I have in the fridge," the Chicago graphic design student said. "Even if I'm not really in the mood for something, I'll eat it anyway."
Dear Readers: You probably already know by now that The Fixer hates "Christmas creep," the strange retail phenomenon that gives us aisles of Santa ornaments right next to the Halloween displays.
This week's Costly Lesson is one we fear we'll be seeing more of, now that the economy really stinks. Maybe the rest of you can avoid what happened here.
Saturday, November 8, 2008
Don't be too hasty when seeking new job
Laid off workers, don't sabotage your job search by being too hasty. That advice comes from Chicago-based human resources consulting company Right Management. Some key mistakes people make are right away messaging to their internal and external networks for help, said Mark Schmitz, Right's market vice president Midwest.
240,000 more jobs lost in October
The economy lost 240,000 jobs in October, shoving the unemployment rate to a 14-year high of 6.5 percent from 6.1 percent in September, the Labor Department said Friday. In releasing the dismal numbers, the government also said 179,000 more jobs were lost in August and September than were previously reported.
Friday, November 7, 2008
Vanishing jobs feed downturn
Ford Motor announced plans Friday for more layoffs, the latest in a vicious cycle of vanishing jobs and stresses on American consumers that is spelling deeper trouble for the already sinking U.S. economy. In reporting that it lost $129 million in the third quarter and went through $7.7 billion in cash, the automaker also said it will cut another 10 percent of its North American salaried work force costs as it tries to weather the worst economic downturn in decades.
Low- and middle-income consumers have been cutting back on expenses for the past several months. These days, even shoppers with household incomes of $100,000 or more are cutting back, according to a study from market-data company Information Resources Inc.
Oil prices dipped Wednesday as investor sentiment once again seemed to shift to the growing global economic malaise and its potential impact on energy demand. Light, sweet crude for December delivery fell $5.23 to settle at $65.30 a barrel on the New York Mercantile Exchange, while gasoline prices continued to tumble. A day after oil staged an Election Day rally, even indications that OPEC was acting on an earlier pledge to pull 1.5 million barrels of crude a day from the market failed to support prices.
Chicagoans still eating out despite economy
They don't call it comfort food for nothing. Many Americans still have an appetite for eating out, despite the shaky economy and rising costs, a new Zagat survey of the nation's top restaurants found. In fact, 83 percent of diners surveyed said they're eating out as often -- if not more -- than they were two years ago.
Grads find fewer firms hiring
Matt Barra was excited. He was about to head to Ohio for a final interview for a job at a financial services firm that would start after he graduates from the University of Notre Dame next May. Barra, a 21-year-old finance major, had done well in two initial interviews. But last week, he got a call: The interview was canceled.
Tuesday, November 4, 2008
Jobs that survive a recession Sandra Guy: Illinoisans who want to stay employed during the worst financial crisis since the Great Depression should look to health care, technology or teaching. The 50 fastest-growing job-growth categories in Illinois include 17 in the medical field, six in information technology and six in education, said Greg Rivara, spokesman for the Illinois Department of Employment Security.
Peoples Gas and North Shore Gas are encouraging customers who need help with their gas bills to apply for help through the Low Income Home Energy Assistance Program.
ShoreBank wants to help more troubled homeowners through its Rescue Loan program. The program offers fixed-rate loans to homeowners at risk of losing their homes. It targets homeowners with credit scores of 520 or better who are not more than 90 days behind and who have their mortgages with another lender.
Monday, November 3, 2008
Recession: Are you ready? Terry Savage: Americans will soon face a recession that few are prepared to endure. In fact, if you're under age 45, you haven't seen a severe recession in your entire working life. While there was a moderate recession in 1990-'91, the last truly deep and lasting recession occurred in 1981-'82, when most of today's workers were still in school. As a reminder, back then we had double-digit unemployment in the industrial heartland of America.
Nationwide, almost one out of every five homeowners with a mortgage owes more to their lender than their properties are worth. That’s according to a report released Friday by First American CoreLogic.
'Scrapped' car gets 200 tickets
Call it the case of the ghost car. A 1992 Chevrolet Lumina was towed to a Chicago Police auto pound in May 2007, and when the owner didn't retrieve it, the vehicle was reported as crushed for scrap. Except, it wasn't. Instead, over the next 12 months, someone was behind the wheel, blowing through Illinois tollbooths and open-road tolling lanes without dropping a dime.
Dear Fixer: Monarchy Collection is a high-end clothing company that specializes in men's T-shirts. I've been a big fan of their clothes and have spent more than $1,000 to $2,000 on their clothing line. Their T-shirts are generally close to $100 each.
On Friday, the City Council’s Finance Committee agreed to return $6.9 million in ambulance fees collected from Medicare during the five-year period ending in September 2005.
Dear Fixer: My problem started back in November 2007, when my father purchased a Hewlett-Packard laptop for me for my birthday.
Thursday, October 30, 2008
Demand for bullion soars Terry Savage: Grab your wallet and stare closely at the money. What's it worth? It's worth whatever it will buy. But can you imagine a time when someone looks at your cash and really doesn't want it, because it "isn't worth the paper it's printed on?" That's what happens when a country "prints" or creates too much money. It loses value. The official name for that process is inflation. What's the alternative to paper? Gold.
Wednesday, October 29, 2008
$1 trillion Dow payday Terry Savage: The stock market gained 889.35, to 9,065.12. on Tuesday. It was a nearly 11 percent gain for the Dow Jones industrial average, its second-best day ever after the 936 point one-day rally two weeks ago, and the sixth-largest percentage gain for the Dow. Almost every market sector participated in the rally. The Nasdaq rose 9.5 percent, gaining 143 points to 1,649.47, after setting a new low days ago at 1,533. The Standard & Poor's 500 index rose 91.59, or 10.8 percent, to 940.51.
ROSEMONT, Ill.---- Emilie Wilson's menagerie includes 15 ferrets, two dogs and four cats, including a hefty gray feline named Tonie Stewart who rides in style inside a pet stroller during family outings.
Fed cuts key interest rate half-point to 1 percent
The Federal Reserve slashed a key interest rate by half a percentage point, driving it to a level seen only once before in the last half-century, and the government finally began distributing funds from the billions in the financial rescue package.
Monday, October 27, 2008
The challenge: Feed family of four for under $10
USA TODAY asked dietitians who blog at Dietchallenge.usatoday.com to come up with creative ways to feed a family of four for under $10 -- as healthful alternatives to the meal advertised on a new KFC commercial. KFC is selling seven pieces of fried chicken, four biscuits and a large side, such as mashed potatoes, for $9.99 and is challenging people to make this meal without going over that amount.
The Dollar Menu stays. But its makeup likely will be different because of the high cost of ingredients, McDonald's Corp. management said Wednesday. A decision is imminent.
Gas prices drop below $3
Gas prices, which have been dropping for weeks, have many consumers happily wondering how low can they go. Prices have fallen as oil prices take a dive. The price of a barrel of oil tumbled below $67 Wednesday after the government reported big increases in U.S. fuel supplies.
Ten CVS drugstores in the Loop are offering free delivery of prescriptions and up to 10 non-pharmacy items. The CVS program is targeted at businesses and residents in the Loop who fill prescriptions at CVS, said a spokesman for the Woonsocket, R.I.-based drugstore chain. Walgreens has no delivery program.
Euro feel, no jet lag
Sitting at an outdoor cafe in the shadow of a 16th century church, I could have been in any number of European cities. Pigeons hopscotched on uneven cobblestones. Old folks and young kids loitered near a gurgling fountain. Red tile roofs capped colonial buildings with elegant wrought iron balconies.
Employer perks have gone on the chopping block as companies have focused on reducing costs, according to a survey by Chicago-based outplacement firm Challenger, Gray & Christmas: 20 percent of companies that responded to the survey have had to eliminate perks, and another 10 percent are considering dropping them. But 57 percent of companies have been able to retain their existing perks, and 50 percent still plan to award year-end bonuses.
Old instruments could raise funds for new ones
Some ancient bassoons were recently found in a forgotten corner of a basement in Waukegan Public School's district office. They were so old, nobody in the district remembers the last time they were played. Now they may be restored and used to buy new instruments for the district.
Nancy Kelly-Ristau is the face of the American nightmare. She's 55, divorced, and facing the fact that she can no longer afford her home in west suburban River Forest, where she lives with her two daughters.
Nancy Kelly-Ristau is the face of the American nightmare. She's 55, divorced, and facing the fact that she can no longer afford her home in west suburban River Forest, where she lives with her two daughters.
