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Most Americans Should not Use Credit Cards.
For some, credit cards are a convenient and safe substitute for cash. It is particularly helpful, for example when making distance purchases, such as ordering something by mail or over the Internet. However, for the majority of Americans, credit cards have become debt traps that are fast resulting in a financial crisis not only for these individuals, but also for the country as a whole. According to Chu (2008), for example, an increasing number of Americans are using their credit cards to survive today's harsh economic climate. This trend is simply driving the crisis to further extremes. However, credit cards are not only used to stay afloat. Many Americans are driven by greed and consumerism to buy as much as they can with what they perceived to be their "wealth." This trend makes it almost impossible to resist buying a non-essential…… [Read More]
Consumer debt is a major problem In America, with credit card debt being the most prevalent type of consumer dent. A great deal of credit card debt is acquired while consumers are in college. This debt often follows them for many years after college is over and accounts for a great deal of the lifelong consumer debt. For this reason the marketing of credit cards to students has been a hotly debated issue. The research indicates that the marketing of credit cards to college students is indeed detrimental to their future financial stability and as such laws have been developed in the attempt to change the practice of marketing credit cards to students on college campuses.
Marketing credit cards to college students has been an issue on college campuses for many years. Pirog & Roberts (2007) reports that nearly 93% of all college students are in possession of…… [Read More]
Credit Card Marketing on College Campus
College students are the perfect target for credit card companies looking to hook people into the world of revolving credit. They are the perfect candidate for such an ordeal since college students are at an age where they are transitioning from being teenagers living and depending on their parents, to becoming young adults who are going to live on their own, and most likely on the same campus where they attend school. Marketing in this environment, especially when freebies and great superficial incentives are given to a population that is looking at getting an immediate purchase without any immediate money down, makes it easier on these companies to get the right type of person wrapped into their world pretty quickly (Chu, 2008). But is this always the best option? Should credit card companies be marketing at a population that does not necessarily have the…… [Read More]
In fifty years, the heavy spending that credit cards facilitate will be viewed negatively, but credit cards themselves will still exist and most likely without stigma. The use of credit cards will be even more widespread, as fewer purchases will be done on site. Credit cards may be scorned by individuals who have acquired too much debt, but on the whole their benefits to society will not be overlooked.
The dramatic increase in consumerism in the United States over the past century received some contribution from credit cards. However, there are a number of other contributing factors as well. The impacts of credit cards have been both positive and negative. They hurt the country economically, facilitating low savings rates and wealth transfer out of the country. They do, however, offer unique convenience and security in today's mobile, electronic world, the same benefits that drove their invention in the face of…… [Read More]
As with many diseases, affluenza is contagious. Cultural conditioning through media and advertising promote an image of "the good life" that is associated with possessions. Instead of hard work and frugality, possessions such as fancy cars, McMansions and designer clothes were now the symbols of success.
It was therefore not enough to be wealthy, one had to flaunt it as well.
Meanwhile, those who did not have wealth could pretend that they did, by using their credit cards and falling deeper into debt.
Cultural critics therefore decry how such a materialism fueled by credit cards makes it impossible to live a life that is autonomous from such society-driven false concerns.
In summary, the availability of credit therefore social materialism, and object to how the American concept of "the good life" has come to be associated with consumer goods. The combination of easy credit and cultural taste therefore drives many Americans…… [Read More]
Other credit card issuers are proceeding more cautiously. MBNA, for example, the second-biggest card lender in the United States, after Citibank, said in April that it had set up an office in Shanghai to study the market (Kingson, 2004)."
Many credit card providers are waiting until the restrictions are lifted in China before determining whether or not to open. It is important to study the impact that the lifting of those restrictions will have on the Chinese credit card market.
With the impending events in Beijing, and the fact that foreign companies are soon going to be able to come into China and offer credit cards the potential is there according to the literature to grow a credit card market that is strong and safe, however being sure how consumers will react is an important factor in determining whether to keep working on the credit card market.
There are…… [Read More]
Multiple Counts of Identity Fraud
There is little doubt as to whether or not a person is subject to multiple violations of a state statute that makes it a crime to "knowingly obtain, possess, use, or transfer a means of identification of financial information of another" (Wash. 2006) if a person attempts to use a credit card that is not his or hers more than once. Such a person certainly is liable for multiple criminal counts. The logic that reinforces this assertion is quite clear. In most instances, states consider it a crime to attempt to utilize the financial information or some other means of identification of another -- when a person does so knowingly. Each time a person makes such an attempt, he or she is committing a crime. Moreover, there was a case that helped to establish this precedent in the early part of the last decade. In…… [Read More]
39). Credit card fraud, though, is not playground for banks for numerous reasons, including: (a) online payment fraud erodes consumer confidence and trust in their brands; for many consumers, a breach of security prompts a knee-jerk reaction of closing accounts and moving to another financial institution; and - the liability for fraudulent transactions shifts to the issuing financial institution with costs ranging between $20 and $30 to process each chargeback. The author also provides a critical review of what initiatives are being taken to prevent credit card fraud citing the pros and cons of each, but also notes that the problem is complex and the situation remains dynamic.
Scott, . (2007). Credit card use and abuse: A Veblenian analysis. Journal of Economic Issues, 41(2), 567-569. In this study, Scott provides a comprehensive history of the credit card and how its use exploded over the last 20 years and notes that…… [Read More]
History of Credit Cards
The first issuers of credit cards were post-World-War I-era merchants whose customers began arriving from more distant locales by the first automobiles that were widely available to ordinary Americans (Stephy, 2009). Originally, they were intended to allow customers to make payments on unplanned purchases without having to return to their homes to retrieve their cash or their checkbooks (Stephy, 2009). In issuing credit cards, department stores and hotels were actually following the practice first introduced in modern times by gasoline service stations; they began issuing credit cards precisely because their products and services were most in demand by consumers who were too far from home to expect them to go back home for their money (Woolsey & Starbuck-Gerson, 2009). Initially, those credit cards were issued by individual gasoline companies and they were only good for those specific chains (Woolsey & Starbuck-Gerson, 2009). Even that practice had…… [Read More]
It is important to remember that the credit card's promotional strategies must work within the context of the overall brand strategy for Virgin.
Overall, the strategy thus far has been highly successful. The company's strategy going forward should build on the work that has already been done, but recognize the shift in dynamic both in the industry and in terms of Virgin's own position within the industry. These three recommendations facilitate that, while enhancing the perception of value that the customers have with respect to Virgin.
Q2. Loyalty schemes in general are fading from prominence in the industry, and few of them offer much value to the customer. At present, it is difficult to determine the effectiveness of the loyalty scheme at Virgin Money simply because the credit cards have barely left the launch phase. Certainly people are attracted to the cards, but the next couple of years will see…… [Read More]
redit Analysis Smehra
redit Analysis for Neal Harris
Neal Harris recently submitted his credit application for our consideration. Mr. Harris is 45 years old, married and has 2 children. He currently works at Franklin Industries where he has been employed as office manager for 2 years. Prior to that, he was in sales at Providencial Insurance for 3 years. Neal has resided at his current residence in Tennessee for 1 year.
His credit application has been filed in joint with his wife, Helen Harris, 43 years old. Helen has recently returned to the workforce from being a housewife. She is also employed by Franklin Industries where she has been marketing director for 4 months. Both individuals have a checking and savings account with AmSouth. The purpose of their loan is for a 2003 hevrolet Tahoe. Following is a review of the 5 's of redit for Mr. And Mrs. Harris…… [Read More]
Therefore, its important that every individual takes step to maintain a good credit history.
How to build a good credit history
Once the importance of credit is understood, the next step is to take measures to build or maintain a good credit score and history. It is not rocket science to have a good credit history. Some amount of restraint and basic financial discipline is all that is required to get a clean credit history.
For starters, one should learn to live within his or her means. Impulse shopping should be avoided at any cost. A better way to buy products is to plan and save for them. This can get the buyer out of credit troubles because the real pinch of money will be realized only when the dues have to be paid. It is also equally important to have good financial planning and disciplined living. All bills have…… [Read More]
The consumer can learn about the various ways credit reports may -- and may not -- be used by reading credible source data online or in print publications.
One of the ways consumers can empower themselves is to gain access to their own credit reports. Access to one's own credit report is easily obtained online, by paying a fee to one of the credit bureaus or consumer reporting agencies. Gaining access to one's personal data is a proactive step towards the protection of one's privacy. As the Privacy ights Clearinghouse (n.d.) puts it, "Ordering your credit report once a year and knowing your credit reporting rights are among the most important steps you can take to safeguard your privacy." Once a year is only a guideline; some individuals might need to order their credit reports often if they have been conducting numerous transactions. Some consumers rarely use credit cards, let…… [Read More]
Other than the branch expansion there has been no significant change in their financial structuring. The future does not hold much along these lines as shown in the future projections. Other than conservatively adding lease financing as an option their growth is limited. Past figures from Federal Financial Institutions Examination Council (FFIEC).
However with the possible income gain from selling either their branch of a line of loans they may be able to further expand their existing loan base into larger corporate agribusiness financing. Out of any pool of assets a bank has the option of lending or investing the money. Lending does has a number of advantages both economically a socially: The act of lending usually increases the economic strength of the community, promoting the growth of the community and the bank. Lending also typically creates more deposits at the originating institution because the borrower usually receives an account…… [Read More]
Belonging to Alliant Credit Union Mean to Me?
I am on track to graduate from a Nuclear Medicine program in September of 2015. his is an important step for me because the nuclear medicine program holds out great hope for more efficient strategies for diagnosing and treating disease -- and healing people who are suffering.
After graduation I will pursue a career at Kaiser Permanente. I will pay off my credit card debt and begin a savings and retirement program at Alliant Credit Union, to assure my own financial security but also to ensure that my parents have the resources to be comfortable and happy in their retirement years.
Going back to 2009, when I bought my first automobile -- which is a huge step for a young person in terms of the need for independence, for transportation and the need to learn how to manage one's finances -- I…… [Read More]
Electronic Cash and Smart Cards
Forms of electronic cash came about in the 1990s with the rise of the Internet and a new way to do business. Smart cards were among the new forms. When purchasing products over the Internet, consumers have concerns about the privacy of their information with electronic payments. Some studies were conducted to evaluate the pros and cons of smart cards, how the security is designed in the payment systems, and if the use of smart cards can change the addictive behavior of gamblers.
What it is
It is claimed the Mondex smart card can be used the same as cash and have the advantage of not having to carry cash at the same time. It was conceived as a technological solution to the handling of money and undermining the traditional role of the circuit of money. (Knights, 2007) The aim was to replace the…… [Read More]
Smart Card Health Role in Rational Use of Medicines
The objective of this study is to examine the role of smart cared in health and their role in the rational use of medicines. Smart cards are very small and very secure and serve to protect patient privacy. Smart cards contain digital logs with location, date, time, and the individual's stamp to record every transaction. Smart cards also may contain digital prescriptions therefore mistakes made with prescriptions that are handwritten are eliminated and specifically as to the "quantity or quality of medications." (HealthOne, 2011)
How the Smart Card Works
The smart card uses technology that stores a patient's personal health information on a microprocessor chip embedded in the card that is the size of a credit card but that has a "small metal contact plate on the front which is how the reader accesses the medical information stored on the chip"…… [Read More]
The Depression of 1893
Following hard on the heels of the depression that had taken place just two decades previously, the precise causes for this economic downturn remain unclear. In this regard, Steeples and Whitten (1998) advise, "There is no adequate account of the causes of the depression of 1893 -- 1897 or, by implication, of the crisis itself" (p. 6). These authors, though, cite fundamental shifts in demographics in the U.S., as well as innovations in technology and manufacturing that caused a reevaluation of traditional institutions and the role that the U.S. was going to play in the economic affairs of the world in the 20th century as contributing to this depression (Steeples & Whitten, 1998).
The "Great Depression" of 1929-1939
The stock market crash in 1929 is frequently cited as the precipitating factor for the Great Depression, but othermund (1996) emphasizes that there were other economic forces…… [Read More]
Closing the loan is also known as firm commitment, and involves the completion of all key paperwork within a designated time. A closing date is set, and the closing costs are established. hen the client pays the costs and completes the paperwork, the loan is closed.
The next step is to service the loan. Servicing refers to the management of the payments. The loan creates an obligation on the part of the borrower to make payments as specified in the agreement. The role of the bank is to ensure that those payments are received. Servicing may be contracted out to a secondary party. In the U.S. that might be Fannie Mae or Freddie Mac, who provide a secondary market for mortgages. In a servicing arrangement, the bank would collect the payments and remit most of this money to the secondary market investor. The bank would keep a portion of the…… [Read More]
Cell Phone as an Electronic Wallet
apid advances in technology in recent decades have brought about a dramatic change in the way people work, transact and communicate. Yet, it is widely believed that there is still ample scope for technology to make life even more convenient and efficient. For instance, the cell phone is already showing the promise of functioning as an electronic wallet. It is the purpose of this paper to demonstrate that using the cell phone, as an electronic wallet, will in fact add a great deal to convenience and safety, especially in the area of replacing plastic credit, debit and smart cards.
paid card; convenience; efficiency; safety; security; electronic; identification; business; bank; credit card company; consumer; transaction; identity theft; fraud; charge back; commissions.
Advances in Information Technology and Communication in recent decades have brought about a dramatic change in the way people live, work and play.…… [Read More]
When the Employer Sanctions provision of the Immigration Reform and Control ct of 1985 was passed by Congress, there followed widespread discrimination against foreign-looking merican workers, especially sians and Hispanics. Failure to carry a national I.D. card would likely come to be viewed as cause for search, detention or arrest of minorities. The stigma and humiliation of constantly having to prove that they are mericans or legal immigrants would weigh heavily on such groups.
On the other hand Bolton (2010) reports Senate Democratic Whip Dick Durbin (Ill.), calculates mericans have become more comfortable with the idea of a national identification card. "The biometric identification card is a critical element here," Durbin said. "For a long time it was resisted by many groups, but now we live in a world where we take off our shoes at the airport and pull out our identification. People understand that in this vulnerable world,…… [Read More]
Demonstrations may be effective, but are best used to target illiterate customers with no TVs, which is not the BeamCard target market. Direct mail is a potential option, but the costs relative to SMS are high, plus it is essential that potential customers have cell phones, so SMS more directly hits the target market. Likewise, cinemas can reach a huge market in India, but the high production costs and considerable spillover into non-target markets makes this option relativley inefficient. Television will hit the target market more directly, as fewer Indians can afford televisions than can afford a trip to the movies.
Merchants will not be marketed to directly. In the highly competitive Indian market, merchants will respond quickly to consumer demand. If demand is generated among SEC a and SEC B. consumers, merchants will move quickly to stock BeamCards. This means that the distribution channels are the most important part…… [Read More]
Iceland's Economic Crisis
The purpose of banking in Iceland: speculation and hedging
The central issue: too much too soon
eplicating Wall Street
Taking on foreign "assets" at a ratio to GDP of 10:1
Is debt an asset?
Easy credit and the role of the Housing Financing Fund
Low interest rates
g. The end of short-term financing in the wake of Lehman's collapse
h. The bubble bursts
The plight of the average citizen
j. Aliber's speech
k. Left holding the bag
The effects of financial deregulation
A prime opportunity for shorting
Iceland and Nationalization
Not Bailing out the Banks
Introduction: Statement of Purpose
The bankruptcy of Iceland in 2008 can be explained in one line from Michael Lewis's Boomerang: Travels in the New Third World. The line is stated by a representative of the International Monetary Fund (IMF) who is tasked with assessing whether…… [Read More]
House of Cards David Faber, 2012) is a documentary that depicts the origin, process and results of an economic crisis that was initiated by the lenders targeting real estate and exploiting the housing shortage while taking advantage of the lowered interest rates by the Federal Reserve. he documentary highlights how the program which at the advent seemed wise and the best solution to the housing shortage and needs of the Americans, turned out to be a tale of deception and greed by the main money industry players like the banks to a magnitude that was unprecedented in the history of America.
he documentary uses a balanced approach to portray how the unsustainable trend in the supply of mortgage and the rising interest rates led to the vast foreclosures as never seen before within U.S.. he correspondent of the documentary gathered information from personal stories narrated by key participants, home buyers,…… [Read More]
Finally, if the user wants a receipt, this bar changes to red, with an arrow pointing down towards where the receipt will be dispersed.
To the right of the black square containing the touchscreen there is a green portion featuring a coin and bill slot along with text listing all of the denominations accepted by the machine. To the lower-right of that is a small yellow area where MetroCards are dispersed (and where old MetroCard may be traded in). elow the screen a blue area features a slot for credit and debit cards alongside a keypad and icons listing all of the accepted cards. The lower portion of the blue credit area and the yellow fare card area slant forward, so that their lower edges once again meet the foremost plane of the machine. Immediately below this, centered in the middle of the machine, is a red area where change…… [Read More]
Automated Teller Machine Servicing
The use of ATM in a retail banking system has become a revolutionized technology that assists banks to facilitate banking transactions and free customers from a lengthy queue. Moreover, the ATM technology has facilitated the global integration for fund transfer, withdraw and deposit because it assists bank customers to travel to any part of the world to complete the banking transactions using their ATM cards (Alexander, & Maiden, 2004). Despite the benefits associated with the ATM technology, nevertheless, the ATM system requires developing a use case to support for the ATM system.
The use case is a technique to identify functional requirements of a software system to assist in effective functioning of ATM services. Typically, use case is an important concept representing user objectives, which can either be a graphical form or textual form. The benefit of use case is that it assists in describing a…… [Read More]
While Citibank may be committed to such a rollout, it needs to consider staggering the rollout over the course of years. This will help regional management become more involved in the rollout in each country, which will reduce the risk of each individual rollout. In addition, lessons learned from the initial rollouts can be applied to the subsequent ones, increasing the odds of success with the later rollouts. The rollouts can also be undertaken on the basis of back office concerns (rolling out Singapore, Malaysia and Indonesia as one group given linguistic similarity; Taiwan as another for example). This can only be accomplished by understanding the differences between the markets and how best each market may be served.
It is also recommended that Citibank consider the spinoff marketing impacts of credit cards in its calculations. Credit cards can serve two important functions for Citibank in Asia. The first is that…… [Read More]
aid Mr. Harris: "We are always looking at new ways to reach our customers through innovative digital platforms." Mobile works well since "There is rapid growth in mobile devices supporting more and more of the everyday tasks that people want to perform."
Another highly successful mobile application has been that of American Express' Android version of its free mobile app, which has had more than 1 million views since 2011. The mobile apps are free as are the apps that AE has implemented via social media (ibid.)
The American Express (AE) Credit Card Company markets itself in various ways. avvy with its promotional and publicity performance, it has put together a variety of tools -- some of them innovative -- that it uses for its own promotional ends. These include extensive featuring of celebrities, innovative media campaigns, cause activity promotional ends, innovative use of social media, as well as…… [Read More]
Lys Fashion Business Plan
DayLys primary earnings
The company's start up
DayLys proposed start up expenses
Strategy and implementation summary
Sales revenue for the first and second year
Graph depicting the sales revenue
Five-year financial plan
Pro Forma Profit and Loss
Pro Forma Cash Flow
Pro Forma Balance Sheet
Percent of Total Assets
Percent of Sales
The focus of this project is to draw up the business plan for DayLys Fashion and the start up funding will be $45,000. The paper also provides the pro-forma profit and loss, and the marketing strategies. The financial plan reveals that the company will record profits in the first year and continuing making profits within the next five-year.
DayLys Primary Earnings
DayLys primary earnings will be $62,715 in year 1, $135,771 in year 2,
and $243,806 in year…… [Read More]
companies such as credit card systems have their backend offices (databases) in India. What are the benefits and risks?
The databasing industry in India is a growing and thriving IT market with credit care companies including Diners Club and Citibank storing their client and potential client information in Indian databases (Vandrevala 15). Clearly, there are extensive benefits from databasing this information offshore. The costs in India are much cheaper, to both develop and maintain complex databases, saving the company finances and labor. In addition, the copyright laws in India have been modified to protect the data, and maintaining ownership of the parent company, rather than the IT company providing services in India. This was a major hurdle to widespread databasing in India, and when the laws were changed, more companies such as credit card companies took advantage of the lower costs in India, and moved their databases offshore. Moreover, the…… [Read More]
Integrating Fingerprint Verification into the Smart Card-Based Healthcare Information System and it was published in 2009. This research article was a result of the efforts put in by Daesung Moon, Yongwha Chung, Sung Bum Pan and Jin-Won Park.
Due to the increase in very large scale integration technology, smart cards, which are credit card sized plastic cards embedded with memory inside a chip were introduced. These smart cards are able to store all information which is personal and is not shared with others. This research paper describes where the use of a smart card is applied in healthcare information systems and how integrating the use of smart cards is different from the usual ways in which patient information is gathered. In order to obtain relevant patient data, connection to the hospital database is necessary. This, however, is not possible in cases where connections are not available for example in ambulances…… [Read More]
Criminals don't always need to have shotguns and masks to threat and rob money; it only takes a social security number, or a pre-approved credit card application from trash to make things according to their wicked way (ID Theft, 2004).
Some consumers have had credit card numbers and Social Security numbers stolen and used fraudulently or identity theft. By taking reasonable steps to protect your personal information, this can mitigate the chance that it may be stolen (What you should know about internet banking, 2007) by identity thieves.
Identity theft is a term used for serious crimes associated with someone uses your name, address, Social Security number, bank or credit card account number or other identifying information without your knowledge to commit fraud. This fraud may only take setting up accounts in your name and make online transactions without you knowing (Get the Upper Hand on Credit Crime, 2004).
Identity…… [Read More]
Despite of these advantages that were mentioned, which creates the power to convince consumers and business owners to use and accept legacy payment methods in a networked environment, there are also a number of disadvantages why some people are hesitant to use such mode of payment. They are especially true when they are used in a networked environment particularly in the Internet.
Issues, Disadvantages, and Solutions in Legacy Payment Methods in a Networked Environment
One of the most critical issues that exist in the use of legacy payment methods in a networked environment, such as the credit card, is how secured are the financial and personal information of the credit card users. Especially when used online, where information is oftentimes vulnerable to threats and unauthorized access, there is a high possibility that credit card information may not be secured. This thus is causing great concerns for consumers.
One of the…… [Read More]
The biggest challenge however over the long-tern is the lack of acceptance of foreign cards by Chinese merchants. There are an estimated 20 million businesses in China, and of these, 414,000 accept credit cards, and of those, 150,000 accept foreign credit cards (Worthington, 2003). At the infrastructure level this fact illustrates how pervasive the sociological factors that limit debt continue to influence the Chinese culture specifically and the Asian culture overall. As with every Asian culture, there is tremendous pride in not losing "face" or stature in ones' community. As a result, cash is king in the more conservative cities and regions of the country. The generation of 25 to 40-year-olds will change this, however it may take a generation or more to significantly increase American Express credit card use in Asia and China as a result.
Bayot, J (2004, March 30). American Express to Issue Cards in China.…… [Read More]
Competitive Intelligence eport: Barclaycard
Today, Barclaycard has grown from its relatively humble beginnings in 1966 to become one of the leading credit card companies in the United Kingdom with more than 10,000,000 cardholders as well as almost nine million cardholders abroad. Although the company has enjoyed a steady increase in the number of cardholders and Barclaycard has been a first mover in introducing new technologies into its business plan in recent years, this growth has not been without some problems and many of its customers are loudly complaining about poor or nonexistent customer service, exorbitant fees and faulty security measures. Taken together, it is clear that Barclaycard has done a few things right while managing to stumble over its success at others. To identify what the company has done right and wrong, this study provides a review of the relevant peer-reviewed and scholarly literature as well as various online sources…… [Read More]
As per IC Sec. 1033(h), the tax rules for the replacement of those properties destroyed or converted in such cases are eased and the overall replacement period extended as well. "Some rules were also revised like the 'ev. ule 95-22' which considers the funds received for the primary residence as well as scheduled property such as jewelry, pieces of art, coins, etc. which had been insured, as funds for a single item of property." (IS, Tax Law Changes elated to Hurricanes Katrina, ita and Wilma) These funds were to be considered as a "common pool" of proceeds from which the gains realized by the taxpayer could be to the extent of the amount exceeding the expenses after meeting a suitable replacement property. This revised rule also clarifies that the replacement property could refer to the residence being replaced or any scheduled private property "in any proportion." (Kess, Hurricane Katrina tax…… [Read More]
I want you to put yourself in their shoes and then tell me how you would feel if someone--anyone -- got a hold of your personal information, your private information, your identity, and used that information to buy stuff online. To commit Grand Theft.
Now, the defense is going to try to steer your minds away from the crime that was committed and will tell you that the police were not entitled to use canines in their search for drugs at - school. Of course, we as the state believe 100% in the protection of your rights and freedoms as Americans. We hold strong to the 4th Amendment of the constitution.
But in this case, these children were attending school. A key phrase in this trial is the "reasonable expectation of privacy." You and I have a reasonable expectation of privacy when we are in our own homes, don't we?…… [Read More]
Risks for Children
Credit Card Usage
Using the Internet Safely
The Internet is a wonderful place and can create many positive experiences for people of all ages. A vast amount of information is available with a simple click of a mouse. Great deals, convenience and choices are found all over the Internet. However, when exploring what the Internet has to offer, users must be smart to make the most of the online experience. The Internet is a very real place and there is good reason to be exercise caution when using it. The same dangers that exist on the street exist on the Internet.
Risks for Children
Children are often more advanced than their parents on the Internet (Coalition for Children, 2000). Young people are more comfortable with computer technologies, schools are going online rapidly and the Internet is growing in many…… [Read More]
Boss I think someone stole our customers
Flayton Electronics Case Study
Brett Flayton, CEO of Flayton Electronics, is facing the most critical crisis of his career when it is discovered that 1,500 of 10,000 transactions have been compromised through an unprotected wireless link in the real-time inventory management system. Brett has to evaluate his obligation to let customers know of the massive leak of private data, define a communication strategy that would notify customers across all states of the potential security breach, and also evaluate the extent to which the Flayton Electronics' brand has been damaged in the security breach. In addition, steps that the company can take in the future to avert such a massive loss of customer data also needs to be defined and implemented.
Assessing the Obligations to Customers vs. Keeping It Quiet
Ethically, Brett Flayton has a responsibility to tell the customers immediately of the security…… [Read More]
A third factor in consumer's reluctance to put their credit card information online is the lack of trust in the retailer themselves overcharging them or being unethical in their use of the financial information. The level of trust for online retailers varies widely, with Amazon.com and Southwest.com (Southwest Airlines) being the most trusted. The vast majority of sites however are not trusted, not matter how many logos or certifications they put on their sites. There is a large industry that concentrates just on the certification of websites as being capable of supporting secured transactions through a verification seal. MacAfee, Symantec and others offer this seal and a service to ensure a website can securely manage transactions. The validations these seals provide are only somewhat effective in driving additional sales online however.
The fact remains that it is the continual experiences of customers with a retailer, both on and off-line determine…… [Read More]
In contrast, Harley-Davidson is selling more of an experience and also a lifestyle change. For Harley, the open road and freedom is the catalyst of their unique value proposition. For Dunkin' Donuts, the trust they have created and sustain makes them a perfect choice for millions of consumers rushing to work in the morning who may have skipped breakfast at home. Harley-Davidson is all about a lifestyle change and freedom while Dunkin' Donuts has become a trusted source of excellent coffee, bakery items and excellent service.
American Express Video
After viewing the American Express video, can you identify a card that might fit your needs?
The Optima card which allows a card holder to carry a balance would be best, as the work I do has unequal payment dates. Freelance work pays irregularly so the Optima card would work best.
Also describe a credit card that you have. Is the…… [Read More]
Since the generation with the highest birth-rate is reaching the retirement age, they are prone to travel more and lead to an increase demand for hotel rooms. (15%) j. Fast food outlets in emerging markets
The fast food industry is expected to register an increase during the following years, especially within emerging markets. Here are some factors that would generate the increase in demand for fast food products:
Increased interest from foreign investors which enter the emerging markets and strongly promote the products (45%)
Growing economies and wages, implying an increased focus on jobs, in the detriment of home cooking (35%)
Changing consumers needs (20%) k. Credit cards issued by financial institutions
Credit cards encompass products offered by banks or other financial institutions which allow their clients to use the bank's money and then pay them back at a previously specified interest rate. Credit cards have always had great success…… [Read More]
exchange of currency have proliferated the Internet marketing world. Customers have faster and easier access to methods of exchange, deposits and payments, than ever before and the changes have come rapidly as more and more Internet commerce demands more and more ease of exchange. A global economy requires global economic infrastructure solutions to exchange of funds and to a large degree the Internet market has answered the call for change and availability of services. Yet, the substantial growth of Internet sales has also, arguably caused the growth of subsystems and infrastructural shifts that might not have been implemented with full knowledge of the implications of such actions. With security at risk and issues of currency exchange rates, not to mention global monetary regulations consumers must be aware of the type of services they are using and the way it might affect the efficacy of their transaction.
Internet Marketing not only…… [Read More]
electronic money, and a description into the various types of electronic money.
Computers and telecommunications devices may come in place of paper currency and checks - during a course of time. Also, electronic ways of transaction of money have turned out widely prevalent. Anyhow, in the recent past debate about "electronic money" has witnessed a dramatic change, narrowing down to the level to which new ways of electronic money will in course of time turn central banks out of date, making them fragile that they cannot manipulate inflation. (Stevens, 72) Electronic money can be considered in terms of electronic substitute for coins and banknotes, which is saved on an electronic gadget such as a chip card or computer memory and which overall is meant for the reason of influencing electronic payments of restricted loans. (Directive 2000/46/Ec of the European Parliament and of the Council, 2)
Electronic money is not…… [Read More]
My student loan payments of $609.07 are scheduled to begin May 1, 2009. I do not have the resources to make these payments and Chapter 7 Bankruptcy does not affect student loans.
Since I have been stretched beyond my financial capacity, I am now consistently behind in my mortgage payments and am not in a situation to rectify this problem. I am paid on the 15th and 30th of each month and because I am so overextended, I can only make my payment on the 30th of each month. Due to my now chronically late payments, I am now subject to $136.44 in late fees every month, which I can ill afford. I am facing eminent foreclosure if I am unable to change the terms of my mortgage.
I believe my circumstances make me an excellent candidate for the Hope for Homeowners Act. The Affordabilty vs. Value portion of this…… [Read More]
Carrabine, Lee and South 193)
As has been said before, the UK no longer makes anything, builds anything or sells anything tangible. The decline in industrial production has resulted in an overall decline in employment of industrial workers, who have not been aided by a failing system to transition to other work.
Some would say that the changes occurring in the UK, at this time with the increased importance of service industry work and intelligence rather than physical labor employment is a natural byproduct of globalization and an evolutionary product of the next phase as a "developed" nation.
They evidence this by observing that all developed nations are leaning in this direction. Yet, the transition has not and will not be easy, whether it is normal or not, a point which remains to be proven.
ith the education system in the UK in serious need of reform…… [Read More]
Georg Simmel's The Philosophy of Money centers on the subject of money and its social meaning to the individual and the society. In his discourse, Simmel discusses how money becomes the symbol of a rational society, which is highly impersonal, rational, and calculable. This argument is due to the characteristically lesser interaction between or among people interacting on strictly impersonal situations, i.e., business transactions where there is an exchange of money (from the buyer) and good or service (from the producer/seller). Furthermore, societal relations among people may decrease, but individual empowerment, because it "increase personal freedom and fosters social differentiation" (Coser, 1977:193-4). In effect, through Simmel's discourse on the social meaning of money, society shift from being a close-knit to a mass society.
If Simmel's arguments about the social meaning of money will be applied in the context of the credit card industry, most of the viewpoints he expressed…… [Read More]
Unethical Business esearch Practices
What unethical research behavior was involved?
The antitrust case brought by Wal-Mart and other retailers against Visa and MasterCard in the U.S. Eastern District court, was settled in 2003 for $3 billion and primarily involved a dispute concerning the efficient pricing of access to payment information, including security data that confirmed or refuted the transactional identities of cardholders (oberds & Schreft, 2009). In their pleadings, Wal-Mart and other class action litigants argued that third-party providers such as Visa and MasterCard required them to accept both debit and credit cards issued by MasterCard but the interchange fees were higher for debit cards (Ulzheimer, 2012). In sum, the suit filed by Wal-Mart and other large retailers claimed that Visa and MasterCard "required all merchants who accept their credit cards to also accept their signature debit cards [which] constitutes an illegal tie-in in violation of antitrust law" (Peterson, 2002,…… [Read More]
Satellite Television service
Many people like Mary Cox, are trapped in situations they cannot understand due to their inability to peruse through their service contract terms and conditions. People find it difficult to read contracts in full, and instead focus on headline elements such as the price. It is also expected that those who have a good read of contracts before engaging in them experience slightly fewer problems. It is most unlikely that the satellite provider deducted the $400 from Mary without making mention of it in the terms and conditions of the service contract. Service contracts are legally binding agreements that are meant to govern delivery of services as well as their payments. They take various forms, they can be made by spoken word in instant transactions such as when buying a loaf of bread from the grocery or they can be made when the consumer and the supplier…… [Read More]
marketing plan for a new software application. The software works by gathering purchase information from consumers via their credit and debit card purchases, and then generating a list of anticipated future purchases. This will then be used by our company to sell targeted ads to these consumers. The software works in a manner that is actually quite similar to the way that websites like Amazon, Booking.com, Facebook and Trip Advisor track search queries and deliver an output of purchase "suggestions." The difference in this case is that instead of cookies online, the software tracks credit and debit card purchases, through agreements with banks and credit card companies. However, it shares with adware a similar function, with similar ethical dilemma and low level of desirability for the consumer (Spiegel, 2013).
Senior management is interested in the product, but wants to get a better sense of the market for it, and how…… [Read More]
Assumption Use in the Financial Plan
Additional Assumption in Sensitivity Analysis
FIRST TWELVE MONTH CASHFLOW RESULT
HOW MUCH SHOULD NORMAN PAY FOR THE EXCLUSIVE RIGHT?
FORECASTED CASHFLOW FOR THE NEXT FIVE-Year
CASH FLOW WITH A LOAN AT 8% PER ANNUM
THE SALES PRICE AND kg SALES GRADUALLY INCREASE AT 5%
THE SALES PRICE PER kg INCREASE AT 10% UT THE UNIT SALES REMAIN AT 5%.
Investment Value Using At Discounted Rate 5%
est Financial Plan and Option
Assumption Use In The Financial Plan
Additional Assumption in Sensitivity Analysis
It is further assumed that price will increase gradually at the rate of 8% per annum and sales will increase at 7% per annum.
For the purpose of analysis, both the sales price and Kg sales will gradually increase at 5%.
Another scenario will be that the sales price per Kg increase at 10% but the unit sales…… [Read More]
NFC is going to revolutionize the smartphone as an e-commerce platform.
The proliferation of smartphones continues to lead to exceptional growth of application development across all platforms, with Android being the clear leader in the last six months of development. The decision to make the platform and source code both open have contributed to Google quickly overtaking Apple and their iPhone OS operating system in terms of market share. It has also need to more phones and devices supporting Android than any other operating system today. The growing competitive threat to the Apple iPad is also attributable to the Android operating system gaining critical mass in this segment of the market as well. Finally, the collaboration applications on smartphones continue to redefine how businesses use these from an enterprise standpoint. Sales force automation, CM, and customer service have all been made more efficient due to smartphone applications. The dominance…… [Read More]
Some of the violations of civil and human rights that have resulted for the PA include "aggressive deportations, crackdowns at borders, surveillance of mosques and homes...destroyed livelihoods, splintered families and the loss of a sense of belonging and citizenship," the group asserts on their eb site. Moreover, many peace activists, demonstrators at anti-war rallies, animal-rights groups, student organizations, and critics of the U.S. policy towards Cuba, have been monitored and added to FBI and CIA databases as potential "enemies of America."
ID CHIPS: An article in ABA Journal (Tebo, 2006) points out that employees of some companies are being asked to have ID chips implanted in their arms so their employers "can monitor their movements," Tebo writes. And while the company that is using these ID chips, (www.Cityatcher.com) can rightly say absolute security is pivotal to their customers, many experts, the article continues, "worry that the law is not…… [Read More]
Dear Jet Express Airlines:
This letter is to inform you of my complete dissatisfaction with your customer service, which resulted from my recent experience of booking a trip through your company. Jet Express Airlines came highly recommended to me by a trusted colleague, and so I turned to your company when booking a recent trip. The trip was to be both business and personal in nature, and involved several different flights to different locations on different days. I made the reservations over the telephone, as I thought this would be the quickest and easiest way to book a complicated trip, since I would have the advantage of talking with a real human being. I also hoped that booking a trip directly through your company would be more cost effective than booking it through a travel agent.
Upon my initial call, things seemed to go well. I spoke with a…… [Read More]
e. no standardization) b) Diamonds: good medium of exchange
Peaches: perishable, differences in quality (i.e. no standardization) d) Grade a Honey: differences in quality (i.e. no standardization), difficult to transport e) Ice in a warm climate: perishable, difficult to store a. Over the long run, what is the primary determinant of the price level? Supply and demand, with price acting as an equilibrator b. Over the long run, what is the primary determinant of inflation?
The supply of money as compared to changes in productivity.
c. How is inflation related to the nominal interest rate?
Expectations of future inflation are one of the key factors in determining the nominal interest rate, the other being the 'core' interest rate, or the inflation-free level at which one is willing to lend money (which differs according to the issuer and associated risk premium).
4. Describe each of the following financial institutions. If it…… [Read More]
Consumer Borrowing -- Spending an Economy Out of a Recession
The 'answer' provided by consumer borrowing and spending during recessions and even depressions revolves around the classical, microeconomics 'answer' to what seems like an economics paradox. Namely, how does one stimulate the economy into a state of recovery, when one is faced with consumers who have less money to spend on basic goods? Consumers who may be unemployed are understandably cautions about their economic future, so how does one 'give' them money to spend and encourage producers to produce.
Neo-classical or naturalistic theories of economics have tended to stress the need for the Federal Reserve Bank to lower the interest rate. This makes it cheaper for consumers to borrow money from banks, less punitive for consumers to use their credit cards to make purchases with money they do not have at the moment, and it also gives consumers an incentive…… [Read More]
Intrusion Detection Systems: etail-Based Cybercrime and the Importance of Security Point of Sales Endpoints Systems
etail-based cybercrime and the importance of security Point of Sales Endpoints Systems
The recent technological advances have resulted in increased dependability of network-based technology for everyday usage. Points of sales systems have also evolved, and they are now linked to the company's network, which makes them vulnerable to attacks. The number of attacks leveled against POS endpoints has increased steadily in recent times . This is because they are mostly stand-alone and they are used to capture credit card information. The attackers are mostly interested in customer information for fraud or identity theft purposes. In order for POS systems to verify customer information and process credit cards, they need network connection. The network connection provided is dependent on the store. Large stores connect their POS systems to the internal network in order to simplify administration…… [Read More]
Make SWFT Compliance Your Competitive Advantage for 2014
All government contractors have until December 31, 2013 to be in compliance with the new secure Web Fingerprint Transmission (SWFT) requirement defined by the Defense Security Service (DSS) in January, 2013.
Now Is The Time To Add A Trusted Compliance Advisor To Your Team
Security First Associates can save you the time, costs and hassle of attempting to attain SWFT compliance quickly. Choosing Security First Associates as your trusted advisor for SWFT compliance and filing of Electronic Fingerprint Transmission Specification (EFTS) with the Office of Personnel Management (OPM) saves you:
Valuable Time By Having Security First Manage SWFT Compliance. Valuable selling and customer-face time can be saved and invested back in relationships, invested in new proposals, and not rushing through a LifeScan machine purchase and all the training that goes with it.
Having to learn how to work with the Office…… [Read More]
This once more impedes with our goals of gaining professional formation.
Also in terms of financial considerations, the economic agents often engage in processes of downsizing. These are understandable from an organizational standpoint, but they negatively impact the employees -- my generation more than the older generations. In this order of ideas, most of the companies which downsize their staff members apply the rule of LIFO -- last in, first out. This basically means that we, as the latest and youngest additions to organizations, will be the first to be fired. The actual act of being downsized or the simple threat of it also impacts our generation more than the older generations. To better explain, most representatives of my generation do not yet have a house of their own and continue to leave in rented facilities. The economic crisis -- with its lack of promotional opportunities and salary raises, alongside…… [Read More]
Business Manager 0668
Tools for customers
E-commerce payment solutions
Search Engine Optimization
Strategies for improvement
Search Engine Optimization and webpage rankings
Global business diversity
Customer elationship Management
Website integration of tools
Discuss how you will facilitate customer payment using e-commerce solutions (e.g., how the transaction will take place, including the tools customers will use).
The customer transactions and payments are one of the important elements of e-commerce strategy. The businesses are required to offer a secure and trust worthy system for their client to manage the financial transactions. There are different transactions handling methods used by the e-commerce-based organizations. These payment methods should be aligned with the overall business transaction handling process as well as appropriate selection of tools and e-payment solutions.
The transactions of products produced under the label of Sunny Day salon are mainly related…… [Read More]