Ever Had a $16 Burger…From Wendy’s?

Posted January 11th, 2012 in News by Jeremy Waller

I love hamburgers. I’m not exaggerating when I say that I could probably eat one for breakfast everyday and die a happy man.

I’m even fine with splurging every now and then on a gourmet burger from a nice restaurant.

But this is something else entirely.

Wendy’s has just launched the Foie Gras Rossini burger in Japan. This stylish square patty topped with goose-liver pate and truffle butter will set you back a cool $16. Continue Reading »

Bank Of America Is Eating Crow

Posted November 2nd, 2011 in News by Jeremy Waller

Less than a month after announcing it’s plans to start charging a fee on its debit cards, Bank of America has announced that it will not be implementing a debit usage fee.

BoA’s COO David Darnell says:

We have listened to our customers very closely over the last few weeks and recognize their concern with our proposed debit usage fee. Our customers’ voices are most important to us. As a result, we are not currently charging the fee and will not be moving forward with any additional plans to do so.

Well bravo Bank of America! It looks like at least one of the executives there has a few brain cells left.

Did they seriously not expect an uprising when this fee was announced? Look at the protests on Wall Street. Most people aren’t exactly happy with the mega-banks right now.

Bank of America’s original announcement was like throwing gas on a fire. And BoA got burned. (Oh man, that’s cheesy.)

I think the New York Times says it well:

Consumers have little sympathy for the banks’ loss of revenue. In fact, consumer groups have called for Saturday to be “Bank Transfer Day,” where customers of big banks move their accounts to community banks and credit unions.

“Bank of America’s new debit card fee was the last straw for many consumers who are tired of banks that got bailed out that are now turning around and hiking fees,” Norma Garcia, manager of Consumer Union’s financial services program, said in a statement.

With this plan out the window I wonder what other plans Bank of America has cooking to replace the revenue lost on swipe fees…

Why The Occupy Wall Street Protesters Are Fuming

Posted October 19th, 2011 in News by Jeremy Waller

The Occupy Wall Street protests are growing. Major media outlets are beginning to carry the story. Videos of alleged police brutality are all over Youtube.

But what in the world is this movement about?

No one seems to really know.

When the protesters are asked, you hear everything from the unemployment rate to the Federal deficit to big banker bonuses and on and on. But none of these get to the root of the problem. Continue Reading »

Everyone Is Wrong About Bank Of America’s Debit Card Fee

Posted October 3rd, 2011 in News by Jeremy Waller

Bank of America confiscating homes we don't own.

Everyone is up in arms right now because of Bank of America’s announcement that it is going to start charging $5 per month to use a debit card. People are outraged and saying things like – We bailed you out and this is the thanks we get? (BoA received $45 billion in TARP money.)

This whole mess was started by the Durbin Amendment that was signed into law in July 2010. This law placed a cap on the swipe fees that banks charge every time you make a purchase with your debit card. Right now, these fees average $0.44 per transaction. When the new law went into effect on October 1st, the fee was capped at $0.21 per transaction. Continue Reading »

I Have Joined the Yakezie Challenge!

Posted September 27th, 2011 in News by Jeremy Waller

Proud Member of the Yakezie Challenge

What the heck is the Yakezie Challenge?

I didn’t know what it was myself until a few days ago.

Just starting out on this blog, one of my immediate goals is to connect with other finance bloggers.

I don’t want to just ramble on for myself. I want others to see my ramblings!

I know one of the best ways to grow an audience is to build relationships with other bloggers.

I also think that having strong relationships with other bloggers will allow me to provide better information to anyone who end up following my journey. No man is an island? Right? Continue Reading »