By Mark Albright, Times Staff Writer
Tuesday, November 23, 2010

Americans invest lots of time in the holidays, a good chunk of us never cash in gift cards, and we collectively do a lot of shopping on company time. So say market researchers, who have once again sliced and diced the numbers behind retailers' holiday sales season. Here are some retail nuggets from all that number crunching.

The average American expects to invest 42 hours in the holidays. Here's how:

m 15 hours shopping (20 for women, 10 for men)

15 hours celebrating with friends and family

7 hours traveling and 3 hours waiting in line

1 hour wrapping gifts and 1 hour returning gifts

Weekend shopping

The number those older than 16 expected to shop over the four-day Thanksgiving weekend: 138 million, about half the population and 4 million more than in 2009. About 79 million will be out Black Friday, a third of them before 5 a.m.

Gift card stats

Shoppers who plan to buy gift cards: 53 percent

Gift card recipients use to buy presents for others or for regifting: 12 percent

Gift carts never cashed in: 13 percent, or $7 billion in 2009

How we're paying

Shoppers planning to use a debit card as the primary means of payment: 43 percent, a 20 percent increase over 2005

Shoppers using credit cards as primary means of payment: 28 percent, an 8-year low

Sales numbers

The National Retail Federation forecast a 2.3 percent gain in sales of general merchandise, apparel, furnishing and accessories in stores in November and December. Here's recent history if that pans out.

2006: $445 billion

2007: $453 billion

2008: $435 billion

2009: $437 billion

2010: $447 billion *

* An additional $52 billion in holiday sales is forecast to be spent online this year.

Where we're shopping

Rise in merchandise sales in stores in most recent quarter: 3 percent

Rise in online sales in most recent quarter: 9 percent

Predicted increase in holiday sales online: 15 percent

Workers who plan to shop online at lunch or on company time from their workplace: 70 million

SOURCES: BIG Research, American Express, Consumer Reports, National Retail Federation, U.S. Commerce Department, International Council of Shopping Centers, comScore, Forrester Research

Associated Press
Tuesday, November 23, 2010

NEW YORK — The aggressive push federal prosecutors are making against potential insider trading is sending investigators into a legal gray area that may redefine insider trading itself.

Mutual fund company Janus Capital Group said Tuesday it was cooperating with an inquiry on insider trading. A day earlier, the FBI searched the offices of three hedge funds in New York, Connecticut and Massachusetts as part of what outside experts say could turn out to be one of the largest investigations in Wall Street history.

Investigators are thought to be pursuing suspicions of trading by hedge funds and mutual funds that might have profited illegally using inside information not available to ordinary investors.

But the behavior being targeted by investigations appears more elusive and complex than the common understanding of insider trading — high-powered executives picking up the phone, whispering secret tips about big deals, and trading stock at an unfair advantage. These were the types of cases that ensnared executives such as Ivan Boesky in the 1980s and Enron's Jeffrey Skilling more recently.

How the alleged scheme may have worked is unclear. Federal prosecutors declined to comment Tuesday. But what is clear is that the way information is shuttled around the world of finance today is faster, more complex and more shadowy. It involves an increasingly digitized financial world in which networks of insiders can share bits of information with blinding speed.

It can also tap into so-called expert networks of industry analysts, experts and consultants who squirrel details between corporate America and Wall Street about what companies are up to — potentially giving some investors an unfair edge.

Investors can use the expert networks to glean details of what's occurring within certain industries or particular companies. The expert networks connect the investor and the source, getting a fee from the investor and then paying the source, who could make $400 to $500 an hour, says Sanford Bragg, CEO of the consulting firm Integrity Research Associates, which connects investors with these research firms.

The federal crackdown on insider trading that burst into view this week is being led by Preet Bharara, the top United States prosecutor in Manhattan. Bharara has called insider trading "rampant" and suggested it is growing.

In a strikingly revealing speech last month to the New York City Bar Association, Bharara said the detection of insider trading has "perhaps never been more difficult to attack through traditional investigative means."

Bharara also spoke of the need to target insider trading by using a tool more typically deployed in racketeering cases: wiretaps.

"The question of why we use wiretaps to investigate illegal insider trading is, to my ear, like my asking a defense lawyer, why do you cross-examine the government's witnesses at trial?" he said.

Monday's raids targeted three hedge funds: Level Global Investors in New York, Diamondback Capital Management in Stamford, Conn., and an address that matched Loch Capital Management in Boston.

Hedge funds have been paying people to dig for hard-to-find numbers on companies for years.

Tammer Kamel, president of Iluka Consulting Group Ltd. in Toronto, recalls visiting a Hong Kong fund 10 years ago that wanted to better gauge future sales by a company with factories in China. Its solution: Pay Chinese farmers near a company warehouse to count trucks leaving the site.

Stephen A. Miller, a longtime federal prosecutor before becoming a criminal defense lawyer in Philadelphia, said Bharara seemed to be packaging insider trading cases for "dramatic effect" to send a message of deterrence to the industry.

Miller said Monday's raids might have been a reaction to the leak of the investigation in published reports over the weekend. He said it would be difficult to pinpoint when arrests might result, though he said he thought hundreds of people could be potentially subject to charges given the size of the net that has been cast.

Miller added: "I think it's wrong when you think of these arrests to demonize the entire hedge fund industry. There are a lot of really honorable people working at hedge funds making good, smart investment decisions and not doing anything wrong."

By Richard Danielson, Times Staff Writer
Tuesday, November 23, 2010

A traveler gets a pat-down at TIA on Tuesday. Meanwhile, TSA agents say they’re just doing their jobs. Story, 2A

Today is one of the heaviest days of the year at Tampa International Airport, with 52,000 passengers expected to fly in or out. To make the trip through security easier:

Think ahead

A lot of people get stressed at having to remove belts, cell phones and heavy jewelry at security, Transportation Security Administration officials say. So put those items in your carry-on bag. Once you get through security, you can put them on. Items that could set off an alarm include keys, coins and metal barrettes. And have all your liquid carry-ons in 3.4-ounce bottles in a quart-sized clear plastic bag.

Wardrobe no-nos

Clothes with metal buttons, studs or snaps. Underwire bras. You'll have to take off your shoes, so consider slip-ons. If you get a pat-down, you might be more comfortable in slacks than a skirt. Any baggy clothing could bring extra scrutiny. Tell screeners if you have a hidden medical device.

About that pat-down

Fewer than 3 percent of fliers will get one. Expect one if you set off an alarm in a metal detector or scanner — or if you opt out of a scan. A pat-down takes a minute or two, compared with 20 to 25 seconds for a body scan. Pat-downs are done by officers of the same gender as the passenger. You can ask that they be done in private and that a companion or a supervisor be present. Kids 12 and younger who require extra screening will get a "modified" pat-down. No word on what that means.

Gravy? No. Pie? Yes.

Some people want to fly with favorite Thanksgiving foods, TSA officials say. But some foods, especially liquids, cannot be carried onto planes. So no gravy, syrup, soup, dip, jam or cranberry sauce in your carry-on. Put those in a checked bag, ship them ahead or leave them home. You can, however, take a pie through security. It will be X-rayed and possibly tested, but not tasted.

Opt-out protest

There's buzz about a National Opt-Out Day today to protest the scanners by refusing to go through them. The idea is getting mixed reviews. "We do find it somewhat irresponsible that people would be asking others to opt out of the very technology that is in place to keep us safe," TSA spokeswoman Sari Koshetz said.

Associated Press
Tuesday, November 23, 2010

KOKOMO, Ind. — President Barack Obama promoted the revival of the U.S. auto industry Tuesday, taking his pitch to the heart of the Rust Belt, where a bruising economy has taken its toll on Democrats.

Obama and Vice President Joe Biden toured a rebounding Chrysler transmission plant in this hard-hit industrial city, holding it up as a symbol of the "hope and confidence" of a better economy, even while millions are still unemployed and hurting.

"We're coming back," Obama said. "We're on the move."

Kokomo got a big boost from Chrysler on Tuesday when the automaker announced it plans to pump $843 million more into three factories to build a new front-wheel-drive transmission.

Chrysler said the investment will pay for equipment to modernize the two Kokomo transmission factories and a casting plant. It will extend the life of the plants and help retain nearly 2,250 jobs, equipping the plants to build a new front-wheel-drive transmission for unspecified future vehicles, the company said.

General Motors, meanwhile, will bring back nearly 200 laid-off workers at an engine plant in Flint, Mich., according to a person familiar with GM's plans.

Declared one of "America's fastest-dying towns" by Forbes magazine in 2008, Kokomo hit bottom in June 2009 when unemployment in the medium-sized city in north-central Indiana reached 20.4 percent. The city's unemployment rate is still higher than the national average, but it had dropped by nearly 8 percentage points to 12.7 percent in September.

The visit represented the White House's new focus on showcasing the results behind the Obama administration's politically contentious economic stimulus and the bailouts of the two U.S. automakers.

"We made the decision to stand with you because we had confidence in the American workers, and today we know that was the right decision," the president said in Kokomo.

For Obama, the visit was also a chance to promote the $800 billion economic stimulus he pushed through Congress in the early days of his presidency.

Obama went out of his way Tuesday to connect with the public, at one point stopping at a small bakery to order pumpkin rolls, apple fritters, cinnamon rolls and doughnuts.

In his speech at the Chrysler plant, Obama said that in his "obsessive focus on policy, I neglected some things that matter a lot to people."

Among them, he said, "was getting out of Washington and spending more time shaping public opinion and being in a conversation with the American people about why I was making the choices I was making."

Despite signs of recovery, the economy is growing too slowly to reduce the nation's unemployment rate, which stands stubbornly at 9.6 percent, and Obama and his fellow Democrats felt the repercussions in this month's midterm elections.

In Indiana, Democrats lost a Senate seat and two House seats and were driven into the minority in the state Legislature.

Democrats also suffered major losses in Ohio, Michigan and Illinois — all states that Obama carried in his 2008 presidential run.

By Liz Reyer, Star Tribune (Minneapolis)
Tuesday, November 23, 2010

Sometimes a mere attitude adjustment will counter negative thoughts as you enter a new job. Substituting positive thoughts actually helps.

QI'm starting a new job soon, and don't have a good track record with making smooth transitions. What would you suggest to help me avoid the bumps?

A: Change can be hard, but I wonder how much of the bumpiness has to do with your perception vs. what others would report. Learn from the past and also make specific plans to move into your new role.

What do you think about when you face a change like a new job? If you're anxious and apprehensive, you'll create some realities in your mind that may not exist externally. Your clues will be the thoughts you have: "I won't fit in," "I won't understand what to do," or "This job won't be any better than the last one" will doom you to a rough start. Notice if these are the types of tapes you're playing so that you can consciously counter them.

Take the next step outward to review past behavior. List the things you'd have done differently with respect to learning your job, understanding the culture, creating relationships with the people, or any other aspect that has tripped you up in the past. You might not remember clearly now that time has passed, so ask others who were around, particularly family or friends. They may well have clearer memories, having lived through past changes with you.

It's one thing to say that you want to avoid the past, and another to know what you want instead. Prepare yourself by thinking through how a successful transition would look and feel. How will you feel at the end of the first day? What would you like to reflect on after your first week? After your first six months?

Now it's time to get your "start a new job" toolkit in order.

Item one: your attitude. As your first day approaches, notice and reverse any negative thinking. It may sound a bit artificial, but substituting positive thoughts for repetitive negative thoughts does have an effect. Often just noticing and stopping the negative ones makes a difference. After all, they are just an old habit, which probably doesn't serve you well anymore.

Item two: your plan. Make concrete steps to know how you'll achieve your ideal first day, first week and first month. Focus in particular on areas that have been hard in the past. For example, if the bumps have come from feeling too isolated from people and being perceived as unfriendly, have a plan that includes lunches with co-workers and enough time chatting. If they have come because you feel that your good ideas have been ignored, plan when and how to introduce them in order to be successful.

Item three: your support. Know who you'll turn to for reality checks and encouragement through the inevitable challenges that come with starting a new job. Be sure that you and your boss are on the same page with expected accomplishments so that you aren't surprised to find that you're underperforming.

You can take control of the transition, and, by managing your thoughts and behavior, get off to a good start.

Liz Reyer is a credentialed coach with more than 20 years of business experience. Her company, Reyer Coaching & Consulting, offers services for organizations of all sizes.

By Kenneth R. Harney, Special to the Times
Wednesday, November 24, 2010

New FTC rules designed to stop mortgage modification scammers

WASHINGTON — You've probably seen the pitches on TV and the Internet or found them stuffed in your mail: official-looking communications complete with logos and letterheads that look vaguely like those used by the Treasury, IRS and other federal agencies.

The promoters have names that resemble federal foreclosure-intervention programs such as Making Home Affordable or Home Affordable Modification. Some even flash photos of President Barack Obama or the great seal of the United States.

They are instead criminal enterprises posing as do-gooders who promise to get you out of the mortgage jam you're in, whether you're severely delinquent or deeply underwater. They claim they can persuade your lender to cut your monthly payments, forgive all penalties, slash your interest rate and even get your loan balance reduced. If your lender won't cooperate, they say they'll perform "forensic audits" on your mortgage and persuade a court to cancel your entire loan transaction because of technical mistakes in the paperwork.

Bogus firms always insist on getting your money up front — often thousands of dollars — and then do little or nothing. But now the Federal Trade Commission is cutting off the main fuel supply for mortgage modification scammers: Under new rules outlined Nov. 19, the agency plans to ban virtually all up-front payments, institute mandatory disclosure rules and clamp new federal restrictions on lawyers who participate in mortgage modification schemes.

Under these rules, companies offering mortgage relief will have to contact your lender or servicer and present you a written proposal describing the key changes to your mortgage terms that the note holder is willing to make before any money can be collected in advance.

Modification companies also will be required to make clear that they have no connection with any government agencies or program, and that you're free to reject any offer from the lender, with no requirement to pay a fee. The rule also prohibits modification firms from using one of their most commonplace and destructive ploys: They can no longer instruct clients to stop communicating with their lender or servicer. Many scammers not only urge unwary consumers to let them handle all negotiations but also direct them to stop sending in payments — or worse, to send all payments to the modification company. Typically that has the effect of rendering any ultimate modification with the lender or servicer even less likely.

The FTC estimates that bogus modification companies have stolen millions from unwary homeowners in the past two years; ironically, there has been a huge increase in the number of abusive schemes in the wake of the federal government's efforts to create legitimate foreclosure relief programs. The FTC has brought more than 30 cases against these operations, but until now the agency has had no way to control the pervasive advance-fee requirements that are so costly to consumers.

When that portion of the new rule takes effect Jan. 31, the FTC will be able to proceed against any firm that collects up-front fees without obtaining the required written proposals at no charge from lenders. It will be a litmus test: If a firm seeks to charge you anything or collects money up front, it will be in violation of federal law and subject to harsh civil penalties.

The only exception will be for lawyers, who typically require retainers before they begin negotiating on a client's behalf. They will be permitted to collect retainer fees for modification efforts but only if they deposit the money into "client trust accounts" under state bar regulations. Lawyers who charge advance fees also must be licensed by state authorities and be in compliance with state laws and regulations governing professional conduct.

Joel Winston, the FTC's associate director of financial practices and a lawyer himself, said in an interview that "a disappointingly high percentage of fraudsters (in FTC loan modification cases) have been lawyers — they're just fraudsters with law degrees." Nonetheless, Winston said, the agency recognizes that "legitimate practitioners" can play a valuable role in negotiating modifications for consumers, and the FTC doesn't want to cut this off by banning up-front retainer payments outright.

Some states, such as California, have aggressively moved against lawyers running loan-mod scams, he said, but once the new FTC rule takes effect nationwide every state will get "federal teeth" behind their own efforts to crack down on law firms who abuse homeowners in mortgage trouble.

"You won't be able to fly under the radar anymore hoping that state disciplinary boards won't spot you," Winston said. "Now (fraudster lawyers) are going to have the federal government to contend with — and we will be looking for them."

Kenneth R. Harney can be reached at kenharney@earthlink.net.

By Jeff Harrington, Times Staff Writer
Wednesday, November 24, 2010

Despite a housing crash and depression-level downturn in Florida construction, asphalt-shingle manufacturer GAF Materials never laid off any workers from its Tampa plant.

Until now.

This week, GAF let go 50 employees, just over half its Tampa operation, blaming slack demand.

"We can definitely say that the market for roofing products has softened over the last several months," said Ted Marcopolus, company vice president of marketing services.

Florida's economy may still be slowly improving, but here's one barometer hinting that any jobs recovery will come in fits and starts: a rash of preholiday layoffs like the one at GAF.

Over the past seven weeks, 17 companies have filed mass layoff notices with the state affecting a total of 2,867 employees. That's roughly twice the 1,449 jobs lost in mass layoffs for all of October and November last year.

"I'm not looking for it to get a lot better in terms of layoffs," said David Denslow of the University of Florida's Bureau of Economic and Business Research. "I think it's going to be hard, and I had been one of the most optimistic about unemployment. I turned out to be wrong on that."

Denslow said he still doubts the state is facing a double-dip recession, but he believes that recovery is likely to be slower and more raggedy than many expected.

Companies are required to file Worker Adjustment and Retraining Notification, or WARN, notices with the state when they impose large-scale layoffs. The notices represent only a small portion of the state's overall job cuts.

The largest among recent WARN filings: Orlando time-share resort operator Tempus Resorts laid off 550 workers last week in tandem with filing for bankruptcy reorganization and selling assets of the troubled company to Diamond Resorts Corp. Tempus president and CEO Roger Farwell said he hopes Diamond rehires most of the displaced workers, but he offered no guarantees.

In addition to GAF, job cuts closest to home over the past week include:

• Capital One laid off 42 workers (on top of 24 layoffs last month) bringing its Henderson Road complex in Tampa down to 350 employees. Spokeswoman Julie Rakes said the cuts were tied to transitioning the site from supporting one line of business (auto finance) to another line (credit cards).

• Mail-order firm Thompson & Co., best-known for marketing a large inventory of cigars, laid off 77 workers in its linens and apparel divisions. The two units had been sold to two separate Boston-area companies and only a handful of workers are relocating, said David Gebhart, the company's vice president of human resources.

Even some industries that benefit from tough times have run into speed bumps.

David J. Stern's troubled foreclosure law firm in Broward County said it has laid off more than 700 workers since mortgage giants Fannie Mae and Freddie Mac opted to pull cases, according to an SEC filing earlier this month. (Only 416 of the job cuts have been reflected in WARN filings so far.)

Chris Lafakis, an economist at Moody's Analytics who tracks Florida, said a spike in layoffs could be a concern, but he prefers to see three months worth of data before declaring any trends. Moreover, he said, the surge runs counter to some more encouraging numbers: Mass layoffs had been trending down throughout the year; hiring in the private sector is up slightly in recent months; and initial claims for unemployment insurance have fallen to their lowest level since the financial meltdown in late 2008.

Lafakis' conclusion: "The cloud of uncertainty looming over Florida's fragile recovery has begun to dissipate as a handful of indicators suggest that the rate of recovery is no longer decelerating."

Among other hopeful signs: tourism is picking up, the medical sector continues to grow and consumers continue to cut down their credit card debt. Ironically, that last economic improvement has a direct correlation to recent job cuts. Capital One said it needs fewer auto finance staffers in Tampa in part because of customers' improved financial condition.

Short-term, holiday hiring helped knock Tampa Bay's jobless rate from 12.4 percent to 11.8 percent over the past month.

Earlier this week, a group of state economists forecast Florida's unemployment rate will stay around 11.8 percent in the first quarter of 2011 before dropping to 11.6 percent. They don't envision a return to single-digit unemployment until late 2012.

By Mark Albright, Times Staff Writer
Wednesday, November 24, 2010

A Mississippi franchise operator has closed 11 of his Sonic Drive-Ins on Florida's gulf coast including three in Manatee County and single stores in Apollo Beach, Crystal River and Largo. The chain of '50s throw-back burger restaurants served by roller skating car hops says employees are being paid for work done before last week's closings, and some were transferred to other stores. That leaves Sonic operating 13 stores in the Tampa Bay area, but executives have been trying to get the restaurant system back on track since the recession. With 3,572 stores, most of them franchised locations, overall revenues of Oklahoma City-based Sonic Corp. plunged 22 percent in the fiscal year ended Aug. 31. Sales in stores open more than a year, a sign of repeat customer traffic, dropped 8 percent.

By David Lazarus, Los Angeles Times
Wednesday, November 24, 2010

It's called the "emergency scam" because its victims are typically asked to wire money to assist some friend or family member in trouble.

Sometimes the scam takes the shape of a phone call from someone claiming to be a relative who needs bail money to get out of jail. The calls, needless to say, are bogus.

But more likely, the emergency scam is perpetrated online, usually after someone's e-mail or Facebook account has been hacked. Urgent (and fraudulent) messages are sent to that person's contacts pleading for some fast cash.

I received just such an e-mail the other day. It was from my 67-year-old stepmom, Judy, who had apparently run into trouble while on a trip to London.

The message said she "got mugged on my way to the hotel and my money, credit cards, phone and other valuable things were taken off me at gun point."

All she needed was $1,800 to pay her hotel bill and return home.

The e-mail, of course, was a sham, even though it had been sent from Judy's actual MSN account and included her actual Florida address and phone number.

She told me she hasn't been to London recently and isn't facing any financial distress. But I was lucky enough to be able to reach her and find this out for myself.

Another recipient of the e-mail, West Los Angeles property manager Fred Droesch, wasn't as fortunate.

"Because the e-mail seemed urgent, I dropped everything," he told me.

Droesch, 76, said he tried to reach Judy but couldn't find her at any of her numbers. So he didn't hesitate. He said he went immediately to a Western Union office and wired $1,800 to London.

Droesch finally reached Judy later that day. When he learned he'd been tricked, he immediately called Western Union and canceled his transaction, and got his money back the next day.

How do things like this happen? Tech experts say the proliferation of Web-based e-mail accounts and social-network sites like Facebook offer easy pickings to hackers keen on passing themselves off as someone else.

In Judy's case, the hacker took control of her MSN account and changed the password so Judy wouldn't be able to send any e-mails debunking the scam. Then he sent his pleas for help to the more than 500 people in her online address book.

The Federal Trade Commission says the number of complaints received about the emergency scam is rising. It's a particularly effective ploy, the agency says, because an appeal from a close friend or loved one can cause people to ignore their natural suspicions. If you receive such a call or e-mail, here's what you should do:

First, try to verify the caller's or sender's identity by asking a personal question that a stranger wouldn't be able to answer. Don't act rashly. Try to call the person back on a known number. If you can't reach him or her, try to connect with another family member.

If you still can't confirm the authenticity of the call or e-mail, contact the police. They'll know if there's a scam going around in a particular area.

Most important, don't wire any money until you're certain the call for help is legit.

And if you do get hustled into sending cash, act fast and try to get your money back before the scammer gets his hands on it.

By Joyce E.A. Russell, special to the Washington Post
Wednesday, November 24, 2010

Fox

Recently, I attended a business-related workshop where the dress code was listed as "nice business casual." I saw everything from formal business attire (suits) to jeans, cutoffs and T-shirts. I heard several people commenting about how confusing today's dress code has gotten. I had to agree with this; it seems we are seeing all kinds of dress (or undress) at work these days. • Even if the standards have gotten more relaxed over the years, people still think a person's clothes send a signal about his or her professionalism, which impacts the reputation of the company. • In general, clothes should be clean, unwrinkled and look professional. Your clothes should have a good fit and anything too revealing is definitely inappropriate. Err on the side of being more conservative. Joyce E.A. Russell, special to the Washington Post

Hats: Usually hats and ball caps are seen as inappropriate in the office. This doesn't include head covers worn for religious purposes.

Footwear: Dress heels, deck-type shoes, loafers, flats, dress boots and walking shoes are usually considered appropriate. What are often inappropriate are flip-flops, slippers, hiking boots, sneakers and overly flashy athletic shoes. Key to remember: Shoes should be clean and polished (not scuffed).

Slacks, pants and suit pants: Generally those slacks that are wool, flannel, corduroy, linen, cotton (such as khakis) or nice-looking capris (for women) are acceptable. Inappropriate: jeans, sweat pants, leather pants, cargo pants, short shorts, leggings, biking shorts, exercise pants and overalls.

Skirts, dresses and skirted suits: Casual dresses and skirts of a length that let you sit comfortably in public are fine (usually skirts should fall to the knee). Short, tight skirts, miniskirts, beach or sun dresses and spaghetti-strap dresses are inappropriate for the office.

Shirts, tops, jackets and blouses: Usually casual button-down oxford shirts, dress shirts, sweaters or golf shirts are seen as acceptable at work. Inappropriate tops: tank tops, midriff tops, halter tops or shirts with offensive graphics (logos, pictures, slogans) or sweat shirts. Basic white and chambray are good colors. For women, sweater sets are also fine.

Accessories (jewelry, makeup, perfume or cologne, scarves, belts): Accessories should be conservative and in good taste. Wear perfume and cologne sparingly since some people are allergic.

Joyce E.A. Russell is the director of the Executive Coaching and Leadership Development Program at the University of Maryland's Robert H. Smith School of Business. She is a licensed industrial and organizational psychologist and has more than 25 years of experience coaching executives and consulting on leadership, negotiations and career management.

Peter Couture, Times Staff Writer
Wednesday, November 24, 2010

The Tesla Roadster 2.5 includes a few design changes and upgrades to the interior and entertainment systems. A small fabric top snaps in place when needed.

Green means go, and in the case of the Tesla Roadster, green means go! That's because the little sports car has the advantage of instant torque that all-electric power provides: It rockets from 0 to 60 in 3.7 seconds. How quick is that? It's the equal of a 505-horsepower Corvette Z06 and faster than many performance cars — all without the tailpipe emissions.

"It's guilt-free fun," said Tesla sales adviser Neil Joseph, who, on a recent weekday, parked the little sports car in front of the Museum of Fine Arts in downtown St. Petersburg. It was there that its eye-catching appearance — imagine the progeny of a Lotus and a Ferrari — had pedestrians reaching for their cameras and even stopped a few motorists.

"There's always a sports-car market, even during a down economy," Joseph said of the Roadster's appeal. "It sends a different message than a classic sports car — you're happy to support the future of energy consumption."

The Roadster, which has a carbon-fiber body, is both a production vehicle and technology showcase for Tesla Motors, a California company founded in 2003 with the goal of demonstrating that electric cars need not be pedestrian in design or performance. (On the horizon: a luxury sedan in 2012.) The Roadster is powered by a lithium-ion battery pack that gives it a range of 245 miles on a full charge, Joseph said. The car can be plugged into conventional 110- and 220-volt outlets and it comes with a power connector. (Tesla recommends buying one of two more powerful connectors — $1,500 to $1,950 — to cut charging times to as little as four hours.)

Tesla's other goal: be a producer of powertrains. It already has forged alliances with Toyota (for an electric RAV4) and Daimler (for a Smart electric car).

But all that technology doesn't come cheaply: The Roadster's price starts at $109,000.

"It's really gone from early adopters to people who say, 'I'm looking at the Porsche, Audi and the Tesla,' " Joseph said of potential buyers.

One of the early adopters was Greg Sembler, a fan of electric cars who owns a Toyota Prius that he has converted to a plug-in hybrid.

"I love it," the St. Petersburg developer says of his first-generation Roadster. "I frustrate a lot of Porsches and Vettes out there (from 0 to 60 mph).

"I really think electric cars are the future."

Joseph said Tampa Bay may be an important part of that future. The company owns its retail and service network and has 13 "Tesla Stores" worldwide; Joseph said the company eventually would like to have one here. For now, the closest store is in Miami. For service, the company will send a "Tesla Ranger" mobile service technician to owners.

Joseph will be based in Tampa for the next several months doing sales and market development. The first Roadsters were delivered in 2008, and according to Tesla, there are more than 1,300 on the road worldwide; about 15 are in the bay area.

Ultimately, Tesla's goal is bigger than being a niche automaker.

"Overall," Joseph said, "we want to be a luxury brand like BMW, Mercedes, Porsche, with a similar range of cars."

For more information, call Neil Joseph at (941) 681-0198 or go to teslamotors.com.

Wednesday, November 24, 2010

'04 Ford Mustang

This red convertible — with leather seats, tonneau cover and roll bar — was a Christmas present from my husband. He modified it to look this beautiful. I've wanted a Mustang convertible ever since my high school days. And he surprised me with this! We take it to car shows and just love driving it around. I've gotten the nickname Mustang Susie, so now my friends call me that.

By Dolly Brosan, Times Staff Writer
Wednesday, November 24, 2010

Rip Roup

Real estate

Rip Roup has been named a sales associate for Ashton Woods Homes at MiraBay in Apollo Beach. Roup has more than 20 years of experience in the real estate industry and was a new-home sales counselor at Pulte Homes Tampa Division for the past 12 years.

By Peter Couture and Lyra Solochek, Times Staff Writers
Wednesday, November 24, 2010

The LS 460 is Lexus' flagship sedan. As such, it embodies the Lexus character: comfortable and stately. It won't wow you with its performance like some of its European competitors, but it could lull you to sleep — in a good way. The LS 460's list of features is long. And for a large luxury sedan, the entry price also is comfortable.

Appearance: No boundaries were pushed in the design of this vehicle. With Lexus, it's all about understatement. The LS 460 has elegant lines and curves, with only some minor chrome trim for a splash of bling. The lone extravagance is the distinctive look of the trapezoidal grille.

Performance: Allow us a bit of hyperbole: The LS 460 rides smoothly, like on a cloud. That said, we didn't find it to be great on slick roads, even with its stability and traction controls. In the rain, Lyra got the car loose on a turn. The 4.6-liter, 380-horsepower V-8, with three drive modes, pulls the car from 0-60 in 5.4 seconds — not bad for a 4,244-pound sedan. The automatic transmission has eight speeds, and all of them shift flawlessly; we could hardly detect the transitions. The braking — ABS with electronic brake distribution and brake assist — is solid. Notable: The Advanced Parking Guidance helps you parallel park. The steering is light, but we wouldn't call the car's handling nimble. The headlights are adaptive, swiveling to illuminate your path on curves.

Interior: The luxurious four-tone cabin is quiet, with hardly any road noise, and well-appointed. As we've come to expect from Lexus, the backlit gauges on the dash are crisp and easy to read. Details such as the matte finish for the wood trim give it a refined look that even many luxury cars lack. The perforated leather front seats — heated and cooled — are comfortable, but maybe not as plush as some other luxury cars we've driven. Still, the driver's side seat has a 16-way adjustment and the passenger gets 12. Elsewhere, the cabin is filled with thoughtful amenities: The seat belt height can be adjusted with a button on the door, so there's no need to reach back to lower it. The headrests adjust their height depending on the seat position: The farther back, the higher the headrest. Some padding fills the gap between the seat and the console so you don't lose your change or keys. (The one detail we would like to see: a blind-spot warning system.) Some of the AC controls are by touch-screen, like mode and fan speed. (We would prefer buttons.) There are four vents and heated seats for the rear passengers. The trunk is family-vacation large with a button to close it. The impressive, 10-speaker premium sound system has auto-sound leveling.

Our 3 favorites

Peter Couture

Transmission: Eight speeds that shift smoothly and probably helps out a bit with the highway mpg.

Cabin: Just like Lyra, I was impressed with the trim and details.

Suspension: It absorbs the bumps so you don't have to.

Lyra Solochek

Ride: One of the smoothest, quietest rides we've tested.

Trim: The matte wood trim proves it doesn't have to be glossy to be upscale.

Driver's seat: 16-way adjustment for a very comfortable ride.

The bottom line: There are no surprises with the Lexus LS 460 other than the level of detail. If comfort and ride are your top priorities, then the LS460 delivers.

By Robert Powell, MarketWatch
Wednesday, November 24, 2010

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BOSTON — There are seven keys to a lot of things in life. There are seven steps to heaven, seven types of intelligence, seven habits of effective leaders. Now we have seven steps to retirement planning, courtesy of the Society of Actuaries, which just released a 64-page report with the not-so-consumer-friendly title "Segmenting the Middle Market: Retirement Risks and Solutions Phase II Report." • "Retirement financial planning requires a methodical approach that identifies and quantifies each important component that affects the asset accumulation, income management and product selection/investment decision processes," according to the report, which was written by Noel Abkemeier of Milliman. • Not surprisingly, Abkemeier says this approach is especially important for middle-income Americans who likely have less than $100,000 set aside for retirement. So what are those steps?

Quantify assets and net worth.

The first order of business is taking a tally of all that you own — your financial and nonfinancial assets, including your home and a self-owned business, and all that you owe. Your home, given that it might be your largest asset, could play an especially important part in your retirement, according to Abkemeier.

And at minimum, you should evaluate the ways you can create income from your home, such as selling and renting; selling and moving in with family; taking out a home-equity loan; renting out a room; taking a reverse mortgage; and paying off your mortgage.

Quantify risk coverage.

Take stock of all the insurance that you might already have or need — health, disability, life, auto and homeowners. In addition, consider whether you might need long-term-care insurance, especially in light of the cost associated with long-term care and the very real possibility that you might need some assistance at some point.

Compare expenditure needs against anticipated income.

The thing about retirement is that it's filled with expenses, which according to the SOA report "can be thought of as the minimum needed to sustain a standard of living, plus extra for nonrecurring needs and amounts to help meet dreams." What's more, those expenses are likely to change over time.

Compare amounts needed in retirement against total assets.

So here's where your math skills (or your Google search skills) might come into play. Besides calculating your income and expenses at the point of retirement, you need to figure out whether your funds will last throughout retirement. In other words, you need to calculate the net present value of your expenses throughout retirement.

Categorize assets.

The SOA also recommends that assets be grouped to fund early, middle and late phases of retirement. Thus, assets for early retirement should be liquid, while mid-retirement assets should include intermediate-term investments such as laddered five- to 10-year Treasury bonds, Treasury Inflation-Protected Securities, laddered fixed-interest deferred annuities, balanced investment portfolios, income-oriented equities, variable annuities and the like. Late retirement assets include longevity insurance, TIPS, balanced portfolios, growth and income portfolios, laddered income annuities, deferred variable annuities and life insurance.

Relate investments to investing capabilities and portfolio size.

This should come as no surprise. The SOA recommends that you invest only in things that are suitable, relative to your risk tolerance, investment knowledge and the capacity of the portfolio to accommodate volatility.

"In short, a retiree should not invest beyond his investment skills, including those of his adviser," the SOA report stated.

Keep the plan current.

This too might be a bit obvious, but retirement-income plans must not be built and set on a shelf. The plan is a point-in-time analysis that must be reviewed on a regular basis.

Said Abkemeier: "You want to keep your plan current. You need to tie everything together and go back to the start of the process each year. You want to enjoy retirement, but you don't want to be at rest."

By Laura Casey, Contra Costa (Calif.) Times
Wednesday, November 24, 2010

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WALNUT CREEK, Calif. — Kim is being stalked in the halls by her supervisor. Her every move is scrutinized, judged. Every day, she is berated with personal insults suggesting that she's just not good enough to work anywhere. • The yelling and unfair accusations do not simply make her hate coming to work. It has led to more serious health issues. • Kim, a 29-year-old medical office worker, who didn't want her last name used, has fallen into a depression. She's losing weight, having panic attacks and, two months ago, had to take a leave of absence from work. The Berkeley, Calif., resident is hoping to transfer to another office, but in the meantime, she's going to counseling to heal. She dreads returning to her workplace and her bully.

Bullying is a growing concern across the country, yet workplace bullying is a life-altering threat that rarely gathers the attention that schoolyard bullying does. Still, workplace bullying can prompt feelings of stress, depression and anxiety, and some say it can cause heart attacks and even lead to suicide.

There are no laws on the books in any state against workplace bullying and no easy legal recourse to embark on when bullying ruins lives.

Psychologists and spouses Gary and Ruth Namie have heard thousands of stories as heartbreaking as Kim's since 1997, when they developed an antiworkplace bullying organization in Benicia, Calif. Now called the Workplace Bullying Institute and headquartered in Bellingham, Wash., the center offers support and counseling to people who are victims of what the Namies call verbal violence in the workplace. They also commission studies to find out who is being bullied at work and how bullying affects the workplace.

The Namies got into this business after Ruth Namie became a target for a bully at a mental health center. Soon after reporting to her job, she says she was screamed at in the halls, picked on by her boss and isolated from her co-workers.

"I felt I had done something wrong," she says. "I did so well in my other jobs and never had a problem. I had a very good career. I just wanted to work. But I kept feeling like I was doing something wrong. I was ashamed, and I didn't want to tell anybody."

She was eventually put on administrative leave, and she and her husband made it their mission to fight workplace bullying.

"I am so worried about this," says Gary Namie, visibly shaken during a recent seminar in San Francisco where a young woman in tears shared that she had been bullied two years before. "You don't typically read about the suicides that are related to this, the health problems. Yet we tell (victims of bullying) that if you don't take care of your health, it will harm you in innumerable ways, and it could cost you your life."

Bullying can happen in any workplace, Namie says, and the targets are usually people who simply want to do their work undisturbed. The bully can be a boss, co-worker or supervisor. According to 2010 research by Zogby International, 35 percent of workers have experienced bullying firsthand, what amounts to 53 million people. The study says that 62 percent of bullies are men, while 58 percent of targets are women. Women target women 80 percent of time. Workplace bullies are usually jealous of the target's accomplishments and drive, the Namies say.

Math professor William Lepowsky had been teaching at Laney College in Oakland, Calif., for 32 years when bullies started targeting him in the early 2000s.

"It was something I was absolutely ignorant of until I experienced it," he says. The bullying started after Lepowsky wrote and self-published a statistics textbook used at Laney. He was accused by an administrator of acting improperly and, even after being cleared of any wrongdoing, Lepowsky says he was threatened with the loss of his job.

"A good analogy to (workplace bullying) is that it's like a mugging. You go to the theater and you're walking home, and they steal your purse or something," he says.

"It's obviously a huge violation, something no one is looking for. It comes out of the blue and prevents you from enjoying going out to the movie or whatever you were going to enjoy."

Lepowsky fought back by gathering support from co-workers and won, eventually receiving a written apology from the then-chancellor of the district for the "stress and strain" caused by actions of other administrators. A change in leadership at the college and district made him feel comfortable at work again.

Lepowsky talks openly about his experience because he wants to help others. He never sued the district nor got a settlement.

But if he had chosen to sue because of the bullying, he would have faced a daunting problem: The practice is not illegal in the workplace if it's not based on discrimination and doesn't fit the legal definition of harassment. Therefore, if targets choose to take legal action they rarely win cases against their employers.

"They have no legal recourse because it's not against the law," says Michelle Smith, a Sacramento, Calif., workplace advocate trying to gather support for the Healthy Workplace Bill. The bill, which has been introduced in several states and has died in committee in California, would define an "abusive work environment" and hold both the bully and the employer accountable for the harm workplace bullying causes.

By Irv Dupre, Special to the Times
Wednesday, November 24, 2010

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Being prepared for the start of a new job is important for your success and in making a great first impression. But if you have some flaws in your records, it might negatively affect your employability. Don't let your history derail your new job. Here are some potential problems — and some ideas on how to deal with the skeletons in your closet now to eliminate unpleasant surprises and allow you to focus on the job.

Your resume isn't exactly about what you did.

Stretching the truth about your work experience, education or skills is common, and a company with a good HR department confirms key elements of every resume. Claiming awards or credit for work you did not earn may be discovered when the company calls your previous employers.

Prevent this potential embarrassment by calling your business references and reviewing your work history with them of when you were hired, your overall record, if you were laid-off or fired and the real reason you left that job. Call your personal references to confirm how long they have known you. Tell them you are interviewing and they may be called by your future employer.

Hint: Some companies ask your references for others who might know you or worked with you. Tell all your friends you are in job-search mode so there are no surprises. You could provide your references with the names and phone numbers of other individuals who would give positive information about you.

You burned bridges with a prior employer.

If you were "terminated for cause" such as poor job performance, attendance issues, workplace disruption or other actions, identify that issue during your interview and what you learned from it. If it was your fault, acknowledge it. Avoid blaming anyone else for your failure to perform. If you discuss the problem honestly during the interview, the hiring official may dismiss this skeleton as a one-time event.

Hint: Many companies provide only the hire and termination dates and your job title to avoid possible legal hassles with former employees. A good HR representative will ask your former employer if they would hire you again. Their simple reply of "Yes" or "No" provides a strong indication of how you performed with that company and may make or break you with the hiring company. Be prepared to address any issues that might result from calling prior employers.

Find someone who worked with you and can provide positive comments about you as a professional referral. You might also call that supervisor who fired you. They may be persuaded to give neutral comments rather than negative. A little humility may go a long way.

You didn't answer all the relevant questions on your application.

An application is a miniresume on your background with several personal questions. One important question not answered or answered incorrectly is whether the applicant was convicted of a felony such as theft, assault or possession of illicit drugs. Many companies conduct a standard criminal background check, and a wrong answer will be an instant end to any job offer.

There is controversy in the HR community on asking applicants whether they were ever arrested or convicted of a crime and, in some states, it is not permissible to ask one or both of those questions or use them to disqualify a candidate. Some companies do hire applicants with criminal records and believe in giving a second chance. An applicant who demonstrates a good work ethic and positive attitude might be able to overcome a criminal conviction. It's better to identify a conviction than to have your employer discover it.

The company is a drug-free workplace, but you smoked a little weed last week.

Even though the company's application form states the company does not tolerate drug use and that a drug test is a "condition of employment," many job applicants still complete the forms and go through the interview just to be disqualified by the drug test before they start work.

The drug test is usually conducted by a local walk-in clinic, and they will identify whether someone used another person's specimen or tries to mask drug use through home elixirs. The test results are seldom challenged but may allow a retest, usually at cost to the applicant. In most cases, that does not mean the applicant can submit a new sample several days later. The lab usually will split the specimen and retest the unused sample.

It's important that you identify for the walk-in clinic any prescription medications you currently are taking. You don't have to tell that to the hiring company, but the physician who runs the tests may get a "false positive" from a prescription drug and that may disqualify you. Ensure that you provide a phone number where you can be reached by the clinic's physician as they will call you first with questions. If you don't return their call, they will then notify the company of a "positive result."

Hint: Most tests can uncover illicit drug use up to two weeks after use. Also, don't try the excuse that you were at a party where someone else was smoking marijuana.

Your credit score is just below your weight.

More companies now use credit reports to identify applicants who are struggling with finances as a potentially risky employee. If you are interviewing for a position requiring any handling of money such as sales or bookkeeping, or would have access to inventory or equipment, the company wants to know that you are trustworthy and honest.

If you are having financial problems, do not volunteer any information unless it's asked, and only if it is relevant to the job. A company in compliance with federal law will need your written permission to perform a credit check. Remember that your credit rating refers to your credit worthiness at a point in time. Your credit history will show a variety of historical information on credit extended to you, vendors you have used and paid over time, when a company requested information on your credit (usually credit card companies and lending institutions), where you lived, and other relevant data about you.

Hint: Get your free annual credit report online and ensure that the data is correct. Contact the credit agency in writing if you find errors and get them corrected.

You always use Uncle Bob's Social Security card.

The company needs your valid identification to hire you as an employee, and that includes identification that shows you are eligible to work in the United States and a photo identification. The company must see and record data on the federal I-9 form from your documents such as a Social Security card (yours), birth certificate, military ID, passport or driver's license. Without those documents, the company can be fined by the federal government if they allow you to work.

Hint: You can contact the city hall of your birthplace to request copies of your birth certificate. The Social Security Administration will issue you a replacement card at no cost and may provide a temporary application card you can use.

You have 11 points on your driving record, all for speeding.

If the job requires you to drive a company vehicle or your own vehicle as part of your employment, there's a good chance you won't be hired after the company or its auto insurance carrier runs a motor vehicle records check. However, if the job does not require you to operate a vehicle, your driving record should not matter to the company.

Hint: Take an approved driver-training and defensive-driving course if you can knock off some points. Many of the courses are now offered online and may result in points not being assessed against you. If you're that poor of a driver, it probably is worthwhile for your health and job security.

Your academic record shows you majored in partying.

If you are newly out of school, it may be worthwhile to work on improving your skills through self-study, online courses or even auditing a course. Your work inexperience is obvious, but community work and part-time jobs show energy and commitment. Improve yourself in any way possible and be a self-starter. That admirable trait may get you a job despite the toga parties.

Your skills are rusty and you hope they'll retrain you.

Don't wait to be hired to renew your skills. Get current via the Internet or library, or practice your skills if you've been out of work. Be at the top of your game, and if your skills are that exceptional, don't let them diminish through lack of use.

Retired Col. Irv Dupre is the COO of Davron Staffing Inc., a Tampa recruitment firm specializing in the placement of engineers, geologists, architects, IT managers and programmers, and finance/accounting managers. He can be reached idupre@davron.net. Or go to davron.net for more information.

Associated Press
Wednesday, November 24, 2010

Don Ching Trang Chu, left, leaves court Wednesday in New York with his lawyer, James DeVita. Chu faces multiple charges.

NEW YORK — The first strike in a new federal offensive to root out insider trading on Wall Street came Wednesday with the arrest of a consulting firm executive who prosecutors said tipped off a hedge fund manager about corporate earnings before they became public.

The arrest of Don Ching Trang Chu of Somerset, N.J., came when investigators realized he was heading to Taiwan on Sunday. He made the trip frequently, but authorities were apparently concerned that he was traveling ahead of what are expected to be multiple arrests in the inquiry and after he had been interviewed by FBI agents Sunday.

Three hedge funds with offices in New York, Connecticut and Massachusetts were raided Monday in the investigation, and on Tuesday, prominent mutual fund company Janus Capital Group said it had been subpoenaed. There was no indication Chu had dealt with those companies.

According to prosecutors, Chu told the FBI agents that employees of public companies sometimes meet in Taiwan with hedge funds and disclose contracts and revenue figures, weeks before the companies announce their earnings.

The complaint said some of the evidence against Chu resulted from conversations he had with Richard Choo-Beng Lee, a former hedge fund co-manager who has pleaded guilty and is cooperating with the government.

It said that in June 2009, Chu appeared to provide secrets about the second-quarter earnings of California chipmaker Atheros Communications to Lee before the public earnings announcement.

The charges against Chu grew from what prosecutors described as the largest hedge fund insider trading bust in history. Fourteen people have already pleaded guilty. Last year, Raj Rajaratnam, a onetime billionaire and founder of Galleon Group funds, was arrested. He is now free on $100 million bail and claims he only traded legally and on public knowledge.

Investigators for Preet Bharara, the top federal prosecutor in Manhattan, have used wiretaps to capture executives bragging to clients and co-workers about how to get an inside advantage in securities markets. A federal judge on Wednesday declared the wiretaps legal over the objections of defense lawyers who said they are not authorized by law for insider trading cases.

Chu, 56, who was born in Taiwan and became a U.S. citizen in 1997, worked for Primary Global Research, which prosecutors said advertised itself as an independent financial research firm with consultants experienced an array of industries.

The company promoted him on its website as a veteran in data communications and a "bridge to Asia experts and data sources."

"Don intimately understands the wireless broadband communications industry, and has deep connections and relationships in the technology industry," according to the website.

A telephone message left with Primary Global Research was not immediately returned.

Chu was charged with one count of conspiracy to commit securities fraud and one count of conspiracy to commit wire fraud and fraud in connection with securities. The charges carry up to 30 years in prison.

Miami Herald
Wednesday, November 24, 2010

Follow Sawgrass Mills on Twitter and Ms. More will tell you about the outlet mall's best deals during the holiday season.

At Toys "R'' Us, you can forget the old-fashioned, paper and pencil holiday wish list — go high-tech with the toy retailer's app designed for the iPad.

Spot a good deal on Black Friday and use the Black Flyday app on an Android phone to send it out immediately to all your Facebook friends.

This year's holiday season is when technology and social media join the mainstream, aiming to make the shopping experience more interactive and, hopefully, more productive. For bargain hunters, it's a way to become a more savvy shopper.

Any variety of downloadable apps can help you find the best bargains. Use FastMall to pull up maps of almost all Tampa Bay area malls stretching from Crystal River Mall to Southgate in Sarasota. Stay on top of the best deals by signing up for text message alerts from retailers like Kmart, Victoria's Secret and Bath & Body Works.

"More people are wanting to use their phone to enhance their in-store shopping experience," said Jeffrey Grau, principal analyst with eMarketer, a digital marketing research firm.

Retailers have definitely taken notice, and there's hardly a major national chain that you won't find on Facebook or Twitter. JCPenney has nearly 1.3 million Facebook fans and Toys "R'' Us is pushing the 1 million mark. Those fans get everything from special discounts to sneak peeks on merchandise.

At Macy's, social media and mobile marketing have been growing by double digits, making it just as important — or maybe more so — than traditional marketing.

"It's a more effective tool because you're engaging in a dialogue with the consumer," said Martine Reardon, executive vice president of marketing for Macy's. "Now she feels better about who she is doing business with and it creates a more fulfilling, emotional connection. That ultimately leads to more frequency of visits and higher sales."

Four out of 10 retailers will use Facebook to promote deals this holiday season, according to the National Retail Federation. More than one-fourth of Americans who have a smart phone will use their mobile device to shop for gifts, compare prices and research products, according to an NRF survey by BIGresearch. That number reaches 45 percent among 18- to 24-year-olds and 43.5 percent of 25- to 34-year-olds.

These are shoppers like Ashley Labrie, who doesn't buy a thing without first checking her iPhone. When the 26-year-old deal-hunting maven finds a great pair of pants, she fires up her phone's browser in the dressing room to see if that size and style number comes cheaper on eBay. Her phone is armed with coupon apps like Yowza!! and Coupon Sherpa, which let her know what stores near her have the best bargains.

It's all about creating a more interactive experience. That's also the focus behind apps like CheckPoints and Shopkick, which last month launched in Miami.

Shopkick has partnerships nationally with Target, Best Buy, Macy's, Sports Authority, Wet Seal, American Eagle and Simon Property Group's South Florida malls like Dadeland Mall. But Simon malls in the bay area including Gulf View Square, Tyrone Square and Ellenton Premium Outlets are not linked to Shopkick yet. Customers score kickbucks by simply walking into a mall or store and checking in on their iPhone or Android phone. They also get more kickbucks by scanning barcodes on select items.

Rack up a total of 875 kickbucks and shoppers can earn a $25 restaurant gift certificate. Reach higher totals and you can earn free movie tickets or a Coach gift card.

"The idea is to give you a reason for walking in," said Cyriac Roeding, co-founder and chief executive of Shopkick. "Once you're inside the store, it's likely that you're going to find something you might want to buy."

Associated Press
Wednesday, November 24, 2010

A broker watches a display Wednesday at the stock exchange in Madrid. Spain is wrestling with a nearly 20 percent unemployment rate, and Portugal is expected to cut public employees’ pay and boost rates for income and sales taxes.

LISBON, Portugal — Portuguese and Spanish borrowing costs rose to near record highs Wednesday as investors worried that the governments' debt loads will prove unsustainable, putting them next in line for a European bailout.

The interest rate on Portugal's 10-year bonds reached 7 percent, equaling a euro-era record. The equivalent Spanish bond yield rose to 5 percent at midmorning from 4.91 percent at the start of trading. By contrast, 10-year yields for Germany — considered the benchmark — were only 2.7 percent.

The bond yields have been moving higher since Ireland accepted an EU-IMF bailout this week because investors demand a higher return for lending to countries with shaky finances.

Neither Iberian country is at immediate risk of bankruptcy, as Portugal has no major bond sale before January and the borrowing rate for Spain, which has two auctions before the new year, is still manageable. But the rates make already heavy debt loads more expensive to finance.

The higher cost to roll over even short-term debt has been eating away at any progress the governments make in their public finances through austerity measures. That was illustrated in Portugal's latest public spending figures, in which higher loan interest costs more than offset a rise in public revenues.

Portugal and Spain are viewed as the 16-nation eurozone's next weakest links now that Ireland has followed Greece and accepted a rescue.

Portugal accounts for less than 2 percent of the eurozone's total economy, but a potential bailout for Lisbon would add to the pressure on Spain, the European Union's fourth-largest economy, and entail possibly dramatic repercussions for the entire bloc.

The euro dropped to a two-month low against the U.S. dollar on Wednesday on concerns about the bloc's financial health.

Though they insist their banking systems are in good order, the Iberian neighbors face similar challenges in reducing debt amid meager growth.

Spain's unemployment is at a eurozone high of 19.8 percent.

Portugal has borrowed huge amounts to finance welfare entitlements and consumption. Portugal's austerity package, due Jan. 1, cuts the pay of public employees by an average of 5 percent, trims welfare benefits and hikes income tax and sales tax. The measures are forecast to stifle already weak economic growth after a recession last year.