Gold Farming Causes Virtual Inflation

Previously, in a post entitled Video Game Sweatshops, I wrote about how Chinese companies were employing people to "mine for gold" online for games like World of Warcraft. This virtual gold would then be sold to players who were willing to pay real money to advance their characters in the game.

Recently, I read an interesting post in ZachStocks about how this gold farming is causing "virtual inflation".

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CNET Top 10 Tech Lists - the aftermath of the dot-com boom

The top 10 dot-com flops.

Top 10 tech of 1995.

Top 10 tech we miss.






Praveen's book and blogs:

Stock Trading Riches

Unix Simplicity

My Simple Trading System

Math and Logic Play

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Opening A Scottrade Account

In my book, I recommend trading with Scottrade, because I have been trading online with them for years.

The service is reliable, and they only charge $7 / trade.

If you want to open an account with them, you can use referral code ZNTJ5666 and get three free trades.



Praveen's book and blogs:

Stock Trading Riches

Unix Simplicity

My Simple Trading System

Math and Logic Play

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Great Ron Paul Site

I watched some of the videos.  Ron Paul makes a lot of sense and would make a great president.

http://whoisronpaul.name/



Praveen's book and blogs:

Stock Trading Riches

Unix Simplicity

My Simple Trading System

Math and Logic Play

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My Book Cracked the top 100,000

My book reached 81,012 on the Amazon.com best seller list!


Praveen's book and blogs:

Stock Trading Riches

Unix Simplicity

My Simple Trading System

Math and Logic Play

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Free USPS Boxes and Pickup for Ebay Sellers

If you sell things on ebay, it looks like you can get the USPS to deliver empty boxes free to you, print labels and postage online, and have the package picked up from your house.

http://pages.ebay.com/usps/shippingitems/carrierpickup.html


Praveen's book and blogs:

Stock Trading Riches

Unix Simplicity

My Simple Trading System

Math and Logic Play

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Power of Press Releases

I spent $80 with PRWeb to send out the press release about my book "Stock Trading Riches".

Already, the release is on yahoo news, and yesterday I saw that my post got picked up by this blog on minimalism.

This is the advantage of publicity.  I got on the blog without paying for an ad, and the post has more credibility than advertising.


Praveen's book and blogs:

Stock Trading Riches

Unix Simplicity

My Simple Trading System

Math and Logic Play

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101 Dumbest Moments in Business for 2007

From Fortune and CNN Money, here are the 101 Dumb Business Moments of 2007.


Praveen's book and blogs:

Stock Trading Riches

Unix Simplicity

My Simple Trading System

Math and Logic Play

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My Book on Yahoo Business News

I put out a press release, and it got picked up by yahoo business news:

http://news.yahoo.com/s/prweb/20071219/bs_prweb/prweb582801_1



Praveen's book and blogs:

Stock Trading Riches

Unix Simplicity

My Simple Trading System

Math and Logic Play

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A Big Business Opportunity

Previously, I mentioned about a recent Andrew Leckey article about Carlos Slim Helu's failed investment in CompUSA.

At the end of that post, I mentioned how Leckey's post indirectly provides a tip that can be very lucrative for business people.

In the article, Leckey mentions his own experiences at CompUSA stores - long waits, unhelpful advice from employees, always having to seek a manager for complex issues, etc.

But, he does not blame this for the chain's collapse. He said that their service is no worse than other places where he shops.

Remarkably (at least to me), he says that "Milling about to garner (employee help and) attention is an accepted part of modern shopping."

He goes on to say that the only time consumers get good, timely help is in high-end boutiques, or when shopping for big-ticket items like plasma screens (where the sales people are commissioned).

He says that poor service in stores (especially consumer electronics) is because of competition and low margins.

But, to me, it seems like Leckey has just provided a way for a smart business person to differentiate himself from the competition.

How about: Good Service in stores can counter competition and low margins?

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Sorry Slim - CompUSA Closing It's Stores

Financial columnist Andrew Leckey noted this week that CompUSA is closing all it's stores after the holidays.

CompUSA is a rare failed investment for Carlos Slim Helu - the Mexican billionaire who is catching up with Bill Gates for the title of "Richest Person in the World".

He poured $2 billion into CompUSA after buying a minority stake in 1999. Later, he paid an additional $800 million to take it private.

Indirectly, Leckey's article also provides a tip for business success.

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But Would Rudolph and Yukon Cornelius Wear Speedos?

CBS broadcast the annual Victoria's Secret Fashion Show a couple of weeks ago.

While the show got 7.5 million viewers (700,000 more than last year), this fact will put it in perspective:

CBS's same-night broadcast of the 1964 Rankin/Bass "Rudolph the Red-Nosed Reindeer" pulled in 14.6 million viewers.

According to columnist Phil Rosenthal of the Chicago Tribune, "Rudolph, Clarice, Hermey the Misfit Elf, Yukon Cornelius, and the Abominable Snowman attracted 7.1 million more people than the super models."

He blamed the low ratings on the fact that people are now tired and immune to hard sales jobs.

The TV and advertising people are desparate for alternatives to commericals which kept skipped - but, according to Rosenthal:

" The bottom line is plugs...won't bring in bucks if the programming around them isn't interesting enough to hold viewer's attention through the sales spiel."

It is almost as if Phil read the Attention Age Doctrine from Rich Schefren. This document observes the fact that people's attention spans are decreasing, due to hyperstimulation, and too much information.

People no longer want to be bombarded with hard sales messages. They would rather be engaged, and provided with quality information.

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U.S. Now Allows Pilots to Fly 'til 65

Bush just signed the bill allowing U.S. pilots to now work until they turn 65, as opposed to mandatory retirement at 60.

The new retirement age is on par with the rest of the world.

Now, the best and most experienced U.S. pilots will no longer have to fly for foreign carriers.

Unfortunately, pilots between 60-65 who have already retired, will be allowed to fly for U.S. airlines again - but they will not regain their seniority.

This makes it doubtful that they will leave the foreign carriers they currently work for.

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Will U.S. Shoe Tax Be Repealed?

I read an article in this past Thursday's Chicago Tribune business section, about the movement to abolish the U.S. shoe tax. It again provides the lesson that taxes are relatively easy to pass, but hard to repeal - even when the industry it was designed to protect feels that it has outlived its usefulness.

The federal shoe tax dates back to the Depression-era. It was passed in the 1930's to protect domestic manufacturing from cheap imports.

It runs as high as 67.5% per pair of shoes - making it among the highest shoe tariffs in the world. By comparison, the European Union is 17%, Japan is 10%, and Chile is 6%.

The shoe industry feels that it is an anachronism. The entire U.S. shoe industry is rallying behind the Affordable Footwear Act of 2007 - even the last-standing domestic shoemakers support the bill.

Their web site is EndTheShoeTax.com.

Unfortunately, passage of the bill by congress is uncertain, because it's low priority and relatively obscure.

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Chinese Irony

I saw an article in today's Chicago Tribune business section that Chinese parents (at least those who can afford it) willingly spend more money to buy toys NOT made from Chinese companies.

They cite safety and quality issues.

I wonder if some of these well-off Chinese parents work at companies that make Chinese toys for export to the U.S.?

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Trump's Scottish Golf Resort

I read in last Thursday's Chicago Tribune that Donald Trump is trying to build the "World's Greatest Golf Resort" in Balmedie, Scotland.

But the local planning commission wants to protect a scientifically important sand dune, and a scrappy farmer named Michael Forbes is refusing to sell his 23 acre property.

The commission voted to turn down the proposal because Trump wants to stabilize the sand dune by planting grass on it.

They say that Trump is the problem, because he won't negotiate.  He is just telling them to take it or leave it.

Forbes' property is right in the center of Trump's proposed 1400 acre site.  Trump has offered Forbes $750,000 for his property, which does not sound like much considering that houses on the golf course will start at $1 million each.

The article compares this scenario to the 1983 movie "Local Hero", which had Burt Lancaster playing a Texas oil tycoon trying to buy up a Scottish fishing village and turn it into a North Sea oil terminal.

Balmedie, however, is no fishing village - it is a suburb of prosperous Aberdeen.

One of the guys who is organizing the protest is Mickey Foote.  He runs a local waste management company, but is famous as the producer of "The Clash".  He thinks that the locals are in awe of Trump and think they will get to "rub elbows with Tiger Woods".

In reality, he said that these will be gated, private residences that will be off-limits to the regular Scots, who like to roam where they please.

Businesses are in favor of the deal, and it looks like the Scottish government may step in and overrule the local council.


Praveen's book and blogs:

Stock Trading Riches

Unix Simplicity

My Simple Trading System

Math and Logic Play

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5 year Freeze on Teaser Rate Mortgages

In an effort to contain sub-prime mortgage defaults, the Bush Administration and financial institutions have agreed to a 5-year rate freeze on adjustable mortgages.

If you have an adjustable rate mortgage and qualify, your low initial rate will apply for 5 more years.

It looks like the lenders resisted the freeze and negotiated a lot of conditions.

To qualify for the freeze, you meet all these conditions:

1. It must be an adjustable rate mortgage that was originated between Jan. 1, 2005 and July 31,2007. 

2. It must be scheduled to reset between Jan. 1, 2008 and and July 31, 2010.

3. It must be your principal residence.

4. You must have less than 3% in equity.

5. You can't afford the new interest rate.

6. You are current with your payments, and are not in default.




Praveen's book and blogs:

Stock Trading Riches

Unix Simplicity

My Simple Trading System

Math and Logic Play

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Lacy Underall and the Golf Lawsuit

Do you remember the 1980's comedy classic "Caddyshack" that starred Chevy Chase and Bill Murray?

In June 2006, Chicago native and actress Cindy Morgan (who famously played Chase's love interest Lacy Underall) hosted a "Caddyshack" charity golf tournament in the posh Chicago suburb of Oak Brook.

The tournament was corporate-sponsored and the Illinois Lt. Governor kicked it off with a news conference. It was held over 3 days, and was supposed to give fans a chance to play golf with Caddyshack cast members and sports celebrities like Jim McMahon.

The event was supposed to raise $250,000 for the Illinois Military Relief Fund, which benefits the families of National Guard troops deployed in Iraq and Afghanistan.

However, the Tribune recently had an article on the aftermath of the tournament.

After the golf, dinner, and drinks, the bills came in. The tournament ended up raising no money for the charity - but did raise several lawsuits and broke up friendships.

The article basically analyzed the situation, and concluded that Morgan got in over her head. She was just supposed to be the figure-head and spokesperson, but she ended up doing all the work.

She had set up a non-profit corporation, and says that her co-chair, who is an officer at a local bank, won't turn over the records to her. She thinks that there may be only $4,000 in the account.

The country club/hotel where the tournament was held is suing the non-profit for almost $100,000 in unpaid bills and a penalty, because they failed to book at least 100 rooms.

Morgan said she was naive, but takes responsibility because her name was on the event. She said the hotel forced them to the terms, and they tried to get enough people.

But the turn-out was low because they could not get Chase, Murray, or a lot of major celebrities.

They ended up with Murray's brothers, Tim Meadows, George Wendt, the actor who played Spaulding Smails, and some of the caddies.

What I found funny and bizarre is that Morgan personally got sued in California court by her one-time friend Hamilton Mitchell, who played the caddy Motormouth in the film. 25 years after playing a bit part, he wanted an appearance fee.

According to Morgan, he wanted $5,000 and a plane ticket. They ended up settling the suit for $3,000.

Considering that this was a charity for military veterans, I think the hotel and the caddy were being greedy.

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Pay Per Play NetAudio Ads

I just signed up with NetAudio to add Pay Per Play advertising to my blogs, as an additional revenue source.

I think it's interesting. These are quick, 5-second audio ads - and each visitor will only have to hear one ad.  There is nothing visual that takes up space on the page. 

Some advantages:

 1. Visitors will not have to read or click anything.  This means that 100% of your traffic converts!  Every time someone comes to one of your pages, an ad will play, and you will get paid.

2. The payout is currently 3 tier, because they want to build up their publisher base.  For ads on your websites or blogs, you get 25% of what the advertiser pays.  You get 5% for each ad on sites belonging to people that you refer, and 5% on sites they refer.

The service will start up in February 2008, but they are signing up publishers now, so they can have estimates to give to potential advertisers.

On their intro page, they offer a sample javascript snippet that you can temporarily add to your website or blog, so that you can see what the ads will be like.



Praveen's book and blogs:

Stock Trading Riches

Unix Simplicity

My Simple Trading System

Math and Logic Play

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Execution is the Key to Success

The late Tampa Bay football coach John McKay once said: "You don't beat people with surprises, but with execution."

According to self-help expert Robert Ringer, execution consists of 3 things:

1.                  A sense of urgency.

2.                  Attention to detail.

3.                  Follow-through.

These things may not sound sexy and exciting, but they are the keys to success.


Praveen's book and blogs:

Stock Trading Riches

Unix Simplicity

My Simple Trading System

Math and Logic Play

Read More