Synonyms for “Receive”: “Charge,” “Levy,” “Assess,” “Subtract,” “Deduct,” “Reduce” “TFLIC receives an asset charge of 1.18% from the assets of the separate account.” –Prospectus On the list of really annoying things about a great many mutual funds and how they disclose their (too-high) fees, add this one: a bond fund sponsored by Transamerica Financial Life Insurance (“TFLIC”)...Read More
Sale Math I’ve previously posted on the (increasing) practice of retailers heralding something as “sale-priced” when in fact it’s marked down from $20 to $19.49 (at the grocery store, make that $2.89 instead of $2.99). See, “Micro-Coupons and Micro-Sales.” So, I feel obliged to note (brag about) the terrific savings I scored at JC Penney’s...Read More
Brand Confusion Since Manager Josh Kaplan’s switch to another office (actually, two) last Spring — see, “Edina Realty Shake-Up!” — I’ve been the sole “Kaplan” in Edina Realty’s City Lakes Office. Which has meant a dramatic drop in errant email’s, voice mails, etc. But not to zero. I received a forwarding message the other day...Read More
Getting Busted for the Cover-Up — Not the Crime I have no idea — based on the handful of stories I’ve read — if MF Global broke any laws, and if so, whether it will face prosecution. But if so, here’s my guess what the company and/or its principals will ultimately be charged with: not engaging in the ruinous, numbingly...Read More
“White,” “Green,” “Fall Colors” — & “Brown” Non-residents may think Minnesota only has one season: winter. Locals sometimes joke that there are actually two: winter and road construction (the same people suggest that Minnesota’s state bird is the mosquito). However, in addition to marking the seasonal ebb and flow by the calendar and thermometer, I keep track...Read More
Wall Street’s Machiavellian Sharks Perhaps it’s uncharitable to complain about the piddling $12 million severance Jon Corzine was poised to gain if he had managed to sell his current firm, MF Global Holdings, over the weekend. But I’m going to complain anyway. The idea that Corzine, who single-handedly destroyed MF Global Holdings, was in a position to...Read More
