Archive for June, 2009

Special Agent Anthony DiNozzo is part of the team of investigators that make up Jethro Gibbs‘ crack squad on “NCIS.” DiNozzo is promiscuous, smart, a huge movie fan, and utterly obsessed with the finer things in life including nice clothes and nice cars. In fact, he has been known to say that his car is part of who he is. Disinherited by his wealthy father, partially orphaned by the death of his mother, and resistant to the very concept of long-term relationships, DiNozzo has created a family that consists only of his fellow NCIS agents. The question that haunts “NCIS” fans is whether being a resident of this “copland” means being economically sound enough to afford all of those Italian suits and shoes and expensive high-performance cars that define him.

Dressed to Kill

A cursory view of any of the Rat Pack’s movies reveals a definite similarity to the style with which agent DiNozzo presents himself to the world of murderers, not to mention every single attractive female he meets. DiNozzo prefers form-fitting suits from Prada and Hugo Boss, shirts from Zara and Bloomingdale’s, shoes from Rockport and jeans from Marc Ecko. Those Hugo Boss suits can easily run over $1,000 and Bloomingdale’s shirts can run in excess of $300. It is easy to assume that his claims of disinheritance may be overstated since the salary at NCIS probably does not allow him to pay for these things with cash.

The Color of Money

The money that arrives in DiNozzo’s weekly pay packet is clearly not enough to allow him to afford the stylish European tailored suits that he wears while he drives his ‘90 ZR1 Corvette. According to the Department of Defense National Security Personnel System Worldwide Pay Table, the salary for an NCIS agent maxes out at just over $130,000. Considering that DiNozzo has been on the payroll for less than 10 years, it seems unlikely that he is near the top end of the pay scale.

A Place in the Sun

Since DiNozzo is famous for clinging to sophomoric behavior, it is entirely within reason to suspect that his claims of being disinherited by his wealthy family may not be entirely authentic. However, he often expresses a very real grief over not having access to his ancestral wealth. So, if his disinheritance is authentic, it is reasonable to assume that he has piled up a rather substantial amount of credit card debt.

In a very real way, DiNozzo personifies the central paradox of the modern American dream. He is probably using credit to live beyond his means while simultaneously living far below the economic status to which he was born. The story goes that DiNozzo’s father abandoned him in a hotel room and forgot all about it until the incoming credit card bills reminded him of his son’s predicament. How fitting.

Timothy Sexton

Before Rebecca Bloomwood hit the big screen and startled audiences with frivolous spending in Confessions of a Shopaholic, she was the main character in the Shopaholic book series by author Sophie Kinsella. With out-of-control spending and an inability to stay on top of her credit card debt and finances, Rebecca is a financier’s worst nightmare.

Who is Rebecca Bloomwood?

Rebecca Bloomwood is the main character in Sophie Kinsella’s Confessions of a Shopaholic series and recent film. The Successful Saving magazine writer lets a flat in London, and can’t seem to stay on top of her shopping habit. The deeper in debt Bloomwood falls and the more trouble she finds herself in financially, the more she appears to spend, unable to curb her frivolous spending habits. Both the books and the movie focus on how Rebecca can handle her creditors — while still shopping and falling in love, of course.

How did Rebecca’s spending get so out of control?

In both the books and the movie, you quickly see that Rebecca has an obsession with shopping—name brands, especially when they’re on sale, popular and trendy stores, and staying fresh and in style. Even with a reasonable salary writing at Successful Saving (a typical London magazine writer’s salary would be approximately $20,000 to $26,000 British pounds; a writer in New York City would earn between $40,000 and $60,000, depending on the publication), Rebecca would have been in a tight spot simply paying for rent, food and utilities, even without the excess spending.

Dealing with Addiction
With out-of-control spending and only a moderate salary, Rebecca’s precarious financial situation is all too common in today’s economy. Once she get’s control of her spending, Rebecca would benefit from consolidating credit card debt to balance transfer credit cards. And if there’s no happy ending, a debt snowball is her best bet.

Is Rebecca’s financial chaos in Confessions of a Shopaholic realistic?

Kinsella does a good job of interjecting bits of seriousness into her account of Rebecca’s antics, with letters from creditors and banks regularly filling Rebecca’s mailbox. While Rebecca’s fall into debt is very realistic, one has to wonder how long she’d be able to keep up her spending before a collection agency became involved. The movie notes that Rebecca has maxed out 14 credit cards at one point—add to that her regular bills and rent, and a credit consolidation agency or collection agency’s involvement is almost a certainty in the real world.

If you call yourself a shopaholic, it’s an almost certainty that you could take lessons from Confessions of a Shopaholic’s Rebecca Bloomwood.

Kelly Herdrich

Having the life of a skilled plastic surgeon is amazing. It ensures fast cars, fame, money and women. This is true if you’re the dashing Dr. Christian Troy from the dark satire “Nip/Tuck.” He is one half of McNamara/Troy, the plastic surgery practice he owns with best friend Sean McNamara. They are two successful plastic surgeons from Miami who live a glamorous lifestyle and have recently relocated to Los Angeles to enhance their careers.

About Dr. Troy

Christian Troy is vain, wealthy, and loves to splash his money around. He drives a $200,000 Ferrari 360 Spider, owns a speedboat, wears $1,000 Gucci suits, and has a pretty nice Beverly Hills bachelor pad. He spends money frivolously on women, dining and drinking out on the town with McNamara. The cost of partying in Los Angeles can easily cost $200 a night at some of the top restaurants and bars, if not more.

The Practice

The median annual salary for a plastic surgeon is about $250,000, according to PayScale.com. That is almost his whole salary just to pay for his Ferrari. While Troy and McNamara do run their own company, the cost of rent for their business in Beverly Hills can start around $1,500 a month, and they would still have to pay their employees. The median medical secretary salary is $30,000 a year, and Liz, their head anesthesiologist, would cost them at least $183,000 per year.

The real Dr. Troy
If Troy’s salary was the median for his work, he would definitely have to use his credit cards to make ends meet. Working in LA however, with the higher cost of living and the endless clientel, he probably does fairly well. Since image is important, his wallet would be full of excellent credit credit cards—probably even a Platinum Amex waiting to be upgraded to a Black Centurian Card.

This doesn’t take the cost of their medical supplies and legal fees into consideration. McNamara and Troy have made plenty of mistakes over the years, and probably would have been sued for malpractice in reality.

While the number of cosmetic surgery procedures have increased over the years, both surgeons would have to clock in long hours to pay for their fast paced lifestyles. Troy must have a great credit score to finance his car and be able to lease his office building and apartment.

While McNamara feels a bit of financial pressure on the show, Troy is carefree and often charges dinner, his bar tab and his designer addiction to his credit card. In short, Troy’s finances are about as real as the surgery he performs.

Stephanie Armstrong

People seem to be customizing everything these days. There are skins for cell phones, iPods, laptops, and so much more. Why not credit cards, too? For many, their credit card may be the most-used possession they have. Some may feel that if it’s going to be used often, it might as well reflect who they are.

Custom credit cards

Credit card companies understand that consumers like the idea, so many offer custom credit cards and credit card designs. Discover’s More card has multiple custom image options, for both consumer and student credit cards:

• The Wildlife credit card features images such as an eagle, wolf, horse and more
• The Sealife credit card’s options include a shark, dolfin, turtle, clown fish and others
• The Monogram credit card displays the cardholder’s initials (or any three letters) and a choice of several stylishly colored backgrounds: girly pink, lime green, elegant black and many more

Capital One’s Card Lab also allows consumers to choose custom credit card images and designs. In fact, just about any photo that you’ve taken — everything from that of a pet to one of your children — can grace the front of your Capital One card.

Credit card designs

If your credit card company doesn’t offer custom credit cards or credit card designs, there still are ways to customize your credit card. CreditCovers.com provides credit card slipcovers, or “skins.” The skins come in a wide variety of credit card designs. Custom skins also can be created based on individual or business wants and needs. These custom credit card designs are easy to apply and easy to remove. The company promises that they are durable and won’t interfere with credit card usage. The only card it doesn’t seem to work with is a smart card — those credit cards that store credit information on a tiny computer chip.

Is it legal to customize credit cards?

Depending on the credit card company, there will be different guidelines to follow. Always remember to read the terms and conditions associated with your credit cards. As long as the credit card designs are not in violation of those terms, customizing credit cards should be perfectly fine.

Lyn Lomasi

With five children, a house in Queens, a car of his very own and a job working for the New York Police Department, Detective Elliot Stabler of “Law & Order: Special Victims Unit” lives an often-stressful life. He is a senior detective who spends his days investigating sex crimes, as well as crimes against the young and the elderly. It may be a living, but does it pay the bills?

Feeding the Family

Stabler’s five children are definitely a lot to handle, though one has left the house and another is only an infant. His wife, Kathy, does not work, but she has her hands full taking care of the kids.

We learn in the first season that Stabler married his wife because she was pregnant with their first daughter. They wed shortly after he left the military. He landed a job on the force because he needed a way to support his already growing family.

Today, Stabler and his family live in a nice two-story home in Queens, which is probably worth between $400,000 and $500,000, according to Trulia.com. On a cop’s salary, that probably means a hefty mortgage each month. Additionally, his wife recently gave birth to child number five, which means medical bills and plenty of diapers to buy. Stabler is fully covered under the NYPD benefits plan, but he certainly has a number of financial responsibilities.

Stabler has gotten himself into trouble numerous times, usually because of his quick temper and his desire to put sex offenders behind bars. Suspensions and several periods of forced time off for psychological evaluation have meant interrupted income, putting him and his family further behind the eight ball.

Stable Stabler

When a stressful financial situation arises, it’s rarely about debt. Stabler is likely to benefit from rewards credit cards that feature discounts for everyday purchases. Charge cards, such as American Express cards, also include rewards for purchases made a grocery stores and gas stations.

Stabler’s Credit Situation

With a mortgage, car payment and lots of bills related to family life, Stabler has probably used credit from time to time, if not on a frequent basis. Although he often defies authority and likes to live life on his own terms, he is also devoted to his family and loathe to cause them pain.

The average salary for a New York City detective is around $48,000, according to Indeed.com, though his experience in the military and his loyalty to the NYPD might increase his salary somewhat. Living in New York, where the cost of living is quite high, Stabler would have difficulty meeting his financial obligations without relying on credit of some kind.

Steve Thompson

Good Careers in a Bad Economy, Part 5

As teens and young adults pursue good careers in a bad economy, they will be told that their quests will be difficult.

Some analysts will inform them that they can’t really get anywhere without a college degree. They will be told that the world has gone from making things and doing things to a high-tech global information society. In short, things have completely changed.

After all, this is the worst economy, with the worst career prospects, since the Great Depression. The U.S. Bureau of Labor Statistics reported an unemployment rate of 8.1 percent at the end of February 2009, up from 4.8 percent a year ago, and could be heading toward 12 percent or more.

What’s a young person to do?

Career counselors Bob Rosner and Sherrie Campbell on Payscale.com encourage a back-to-basics approach. They assert first that while the economy is changing, there still is demand for traditional jobs, and that not all of them require four-year college degrees. They add that no matter what, you must “Stay positive during a recession.”

Make a Plan and Stick With it

The process of planning for a good career — both in a bad economy or a good one — starts with the basics of taking pen and paper and mapping a step-by-step plan. Or nowadays, a computer screen will work just fine.

Good Careers in a Bad Economy
Part 1: Graduating in a Recession
Part 2: According to the March 2009 Bureau of Labor Statistics
Part 3: Potential Careers Arising from the Stimulus Bill
Part 4: Career Forecast: Look for Overlapping Opportunities
Part 5: Career Planning: The More Things Change, the More they Stay the Same

First, make a list of careers that are of interest to you. Don’t concern yourself with the bad economy. You can whittle down your list later. And, as outlined in the first report of this series, you can pursue a dream career and a more realistic recession-proof career at the same time.

Dare to dream. Have your eye on star athlete or entertainer, corporate chief executive, “green” energy entrepreneur, heart surgeon, even president of the United States.

Explore more down-to-Earth careers. Think school teacher, carpenter, nurse, mechanic, insurance representative, police officer. Most jobs, in spite of all the global economy talk, are still old-school jobs. Society still needs food and shelter, public schools and public safety, health care and transportation.

Think of overlaps to broaden your prospects. For school teacher, write “educator” because who knows, you may become the superintendent of schools. For carpenter, put “contractor” because you just might start your own company.

Think of career cousins. Career counselors Rosner and Campbell describe “career cousins” as careers that are similar. If you have dreamed of being a teacher, for example, you might also find an interest in social work.

Once you have made your big list, pick two or three options for careers. Explore the book studies and/or training programs that are required. You’re not alone, because virtually all schools and training programs have career counselors. Find a good one and keep in regular contact.

Cope With the Cost of Education and Training

The pursuit of a good career in a bad economy, or any economy, requires more than good intentions. A young person also needs resources.

Members of today’s up-and-coming generation face a challenge. According to the National Center for Public Policy and Higher Education, 47 percent of households say their children can’t afford to go to college.

Policymakers are aiming for reforms. Some state governments are rewarding publicly-funded universities that hold tuition in check. The new American Recovery and Reinvestment Act, otherwise known as the $787 billion economic stimulus package, includes $2,500 college-cost tax credits for this year and next year.

Community colleges are a lower-cost option for getting started. Many professions, ranging from building trades to nursing, do not require four-year degrees. Furthermore, most students who achieve those so-called four-year degrees actually invest more than four years; six years is the average, with breaks taken to save money for the next round of tuition.

Students this year will receive a combined $143 billion in grants and loans, according to the College Board. Some 38 percent of full-time students will pay less than $6,000 a year, but super-elite schools drive up the overall average. The College Board is among many scholarship search sites.

Pursuit of a good career requires hard work. Pursuit of tuition for college or training is the same.

Remember that at some point in society’s chain, there is a link to fill that is essential. Try to find a career link that you will enjoy.

Michael Thompson

Good Careers in a Bad Economy, Part 4

Much is said of the “green” environmental movement providing good jobs in a bad economy. Therefore, a young person might perceive that working in the energy field is an either-or proposition. Either you ride the wave of the future by studying solar or wind power or fuel cells, or you concentrate in the traditional fields of oil and gas.

Not necessarily. A great deal of overlap exists. Besides, alternative energy will take years to develop. Even the most optimistic plans call for utilities to generate only 20 percent or 25 percent of their energy from alternative sources, often with a target year of 2015 or 2020. There still will be plenty of oil, natural gas and coal to burn until at least the middle of the century.

More Career Overlap Potential

Consider small business, which is regarded with gloom and doom in many circles because of the bad economy. What if an entrepreneur were to overlap a small business into an international business? According to the U.S. Department of Commerce, small companies provide 96 percent of export volume. As noted on www.myownbusiness.org, America offers 300 million potential customers; the planet, 6.5 billion.

Or how about law enforcement? In the age of terrorism, law enforcement no longer stops at America’s shorelines. There is so much international overlap, creating so many job opportunities, that even the FBI and the CIA have taken the unusual steps of recruiting applicants with ad campaigns. The CIA pitch states, “Consider the global employment opportunities at the CIA. We’re looking for a diversity of people for the important job of keeping America safe. This includes Clandestine Service Officers to be on the front line of human intelligence. Plus, individuals skilled in science, engineering, technology, analysis, foreign languages and administration for positions in the United States and overseas.”

In science and technology, analysts often assert that America must gear up for global competition. This is true, but again there is a career overlap because America also is part of a move toward international cooperation. Just one prominent example is the International Space Station.

As young adults focus both on dream careers and recession-proof careers, they should look for these types of overlaps as paths toward opportunity.

Energy Careers Show Overlap Potential

Good Careers in a Bad Economy
Part 1: Graduating in a Recession
Part 2: According to the March 2009 Bureau of Labor Statistics
Part 3: Potential Careers Arising from the Stimulus Bill
Part 4: Career Forecast: Look for Overlapping Opportunities
Part 5: Career Planning: The More Things Change, the More they Stay the Same

A report for the Mother Nature Network Web site demonstrates how careers in the energy field need not be typecast into the traditional or alternative fields.

“Today’s most sought after solar positions are in installation, engineering system design, and sales and maintenance,” it states. “Lucky for you, lots of skills that are useful in the solar industry don’t require a background in solar power, or even renewable energy.”

On the labor level, individuals with blue-collar experience installing gas-fed furnaces might don green collars to install solar panels.

For professional positions, consider a major corporation’s recent job posting for “director of solar engineering.” The listed educational requirement is a bachelor of science degree in electrical engineering “or other relevant engineering degree.” In other words, the corporation was not looking for somebody with a specific degree in solar power.

Still, today’s young adults will find greater opportunities to tailor their education and training toward specific fields of energy industry employment. This is where a college student should establish a strong relationship with a trusted guidance counselor.

As MyGreenScene.com puts it, “University degree programs focused on renewable energy are starting to see the same growth that computer science programs did in the early eighties, and that means the new Energy Age is here.”

But the old Energy Age will still be here for a long time, too.

Michael Thompson