Ridiculous Factoid of the Moment #1 (orig. posted 03/11/07)
I peruse several magazines every month since I have a hard time reading books. I guess I need the “quick fix” that magazines offer – a few paragraphs or pages and then off to the next topic. I won’t go into the list but I think there are around 8 or 9, including Time.
Time, Newsweek, and US News and World Report (you’d think they could have picked a shorter name) all seem to report on the same items, but I’ve mostly only read Time for the last few years. So I’m reading this week’s issue and I come across an interesting blurb about the RED Campaign. The RED Campaign was started last year “to benefit the Global Fund to Fight Aids, Tuberculosis and Malaria” – very noble.
Something NOT so noble in my opinion ? The fact that Gap, Apple and Motorola have spent an estimated $100 Million on marketing and advertising. Sounds OK, right ? Except so far the charity has raised only $18 Million worldwide ! In these corporate giant’s attempts to “attach” themselves to a cause, they have spent much more to get noticed than to actually help the cause – terribly misguided.
The Unites States is probably the most charitable nation the world has ever known, and we are blessed to live here. From children collecting money for UNICEF to big business to the Buffets & Gates’ – there are some things this country does right ! I feel that when all is said and done we will be judged on how we treated our fellow man while we were here – I’m very serious about that. Certainly not the only thing, but a big percentage of the compulsories.
I commend these companies for trying, and in the long run maybe the monies raised will greatly surpass the amount spent. Instead of trying to “cash in” on the cause, maybe they should just give the money straight to the existing charities trying to fight these dreaded diseases. I guess you have to “spend money to make money” as the adage goes…
Update : Interesting article on MSN today – http://articles.moneycentral.msn.com/Investing/Extra/FightingAidsWithARedTShirt.aspx?GT1=9215
The View From Here 
hmmm… I just read a book on the airplane ride over here, and the primary point that they wanted to make was that you don’t have to spend money to make money. It’s a little more technical than that, but it was a pretty good read. It’s my new effort to get financially smarter and get a financial plan going. I’m sick of paying off debt (as this last move really hit home) and just want to hurry up and get out of it.
Snakeye
Sunday, 11 March, 2007 @ 12:11 at 12:11
I was just using the cliche. What’s the book ? Author ? Best of luck with the Krauts…
johntheirishman
Sunday, 11 March, 2007 @ 20:55 at 20:55
You don’t necessarily have to spend money to make money if you are talking about personal investing. You just have to know what to do with the money you have. And you are right Snake, paying down your debt is KEY. However, you really do have to spend money to make money in most business propositions, whether it is a new building, taking on a new line, new computers or data circuits, hiring a new employee, etc.
dfm
Monday, 12 March, 2007 @ 7:40 at 7:40
yeah… with my current plan, we should be CC debt free by June. Then it’s a 2-fold front to pay off Pam’s grad school loan and get some good money into investments. The book was one of the Rich Dad Poor Dad series. It’s sound, but their method of madness is to basically start up a business to invest. I guess the way it works is your business income is taxable after all the business expenses have been factored out (which also includes investing)… the way most people invest is with income, which is taxed before you even get the paycheck.
Snakeye
Monday, 12 March, 2007 @ 13:04 at 13:04
I lived that dream of paying off my wife’s collej debt as well. Nice when you get that last paper that says it is done.
I see now the theory of starting a business to invest. Be careful, things vary state to state. If you are just going to invest, I don’t understand why you just wouldn’t do it yourself though. The income on the business will be taxed, and any income you take out of the business will also be taxed at your personal tax rate. Typically the taxes for a business are WAY higher than an individual rate, which is why we distribute profit sharing as part of our employees retirement package (better for them to get it than the govt) and buy capital items (trucks, forklifts, etc.) at the end of the year to clear profits. An email to Hot Carl would definitely be appropriate for better tax advice – he is the tax god.
Looking at it this way I don’t see a real advantage of opening up a business to invest unless you are trying to insulate yourself from liability or something like that. It is common when buying buildings to form an LLC. LLC profits are taxed on the individuals tax level (pass through) and allows you to insulate yourself from liability.
dfm
Monday, 12 March, 2007 @ 14:01 at 14:01
Yeah, we’re as in debt as some small third world countries. You can make donations at http://www.snakeye.us
BH
Monday, 12 March, 2007 @ 17:24 at 17:24