THIS WEBSITE---Clean, crisp, straight-talk, no jargon or gobble-de-gook, easy to navigate, valuable information and advice.

BOB ROSEFSKY is one of the nation’s most distinguished authorities on personal finance. A multi-award winning author, broadcaster and educator, he has published 12 books, including his long-running college textbook, “Personal Finance.” (See right column for more details.) His Emmy Award winning college-credit TV series, based on the textbook, was nationally distributed by PBS for over 25 years. He has also won the prestigious national John Hancock Award for Excellence in Financial Journalism.

THE UNIVERSITY OF BOB is an admittedly light-hearted title for a serious subject, but it was chosen because it illustrates Bob’s sense of humor and his light touch on weighty matters, as well as his educational skills. Web technology now allows him to offer his expertise to a much wider audience in a much more efficient way.

THE COURSES

SPEAKING DOLLAR-WISE--These postings will keep you up-to-date and give you valuable action insights into the world of money. Bob has no sponsors and is not beholden to anyone. He tells it like it is, often to the dismay of those who are selling something.

LIFE'S A TRIP is designed to help get you the best values for your travel dollars, and your (ever-increasing) leisure expenses. Bob owes no favors. His opinions are based on real-life experiences, for better or for worse.

ENRICH YOUR RETIREMENT--(Baby Boomers take note!) This course will help you mind your money and nourish your mind. It includes a unique program that can be very personally fulfilling: A SPA FOR YOUR BRAIN.

"WHAT WERE THEY THINKING?"--Whimsical observations of America's foibles, taken from a unique book written by retrospective speculative historian Hubert Hindsight and published in the year 2020.

COMMENTS?
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There is no fee and no registration required to make use of the University of Bob website. You will be completely anonymous.

If you want to go beyond the website you can access Bob Rosefsky’s broader source of expertise--his college textbook, “Personal Finance.” As originally published by John Wiley & Sons, one of the nation’s major textbook publishers, it was sold in hardcover for close to $140--a fearsome price. It was used by by colleges across the country for eight editions and 25 years.

The complete 700 page Eighth Edition is available here for a limited time AT NO CHARGE. The book is written in "plain talk" language and covers virtually all personal financial concerns. Of particular importance are the extra end-of-chapter features which explain how the economy impacts on our lives, plus how to anticipate and solve real-life financial problems, and much more. PLEASE NOTE: Give the pages a few moments to load. Some of the first few pages are blank, owing to the way the book was originally published. The "Quick Click" links and the Update Link (www.wiley...etc.)are no longer operative; they will be replaced in the website's articles. Scroll to the textbook's Table of Contents for a complete look at the subject matter.

Click below to access the book, which is viewable on your monitor but not currently downloadable. The contents of the Eighth Edition, plus the postings on this website, will constitute the Ninth Edition of Personal Finance.



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This website was constructed by Mike Gerber (www.mikegerber.com.)

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©2008 Robert S. Rosefsky. All rights reserved.

Saturday, February 9, 2008

WHAT'S WRONG WITH THIS AIRLINE INDUSTRY?


You've built up a supply of frequent flyer mileage, and now that you want to use them, the airline has no seats available for when you want to fly. You're flying across the U.S.A. and you get hungry. Peanuts! Deal with it. Or, on some flights you can pay five dollars or so for a pre-packaged "meal," provided they don't run out of selections before the cart gets to you. Want to check your bags curbside to avoid the line at the check-in desk? Be prepared to pay for the privilege. Costs ago up. Service goes down. And the public keeps their lips zipped. What lies ahead?

I fly a lot, domestically and internationally, and one thing I'm seeing more and more---sadly---is that the travelling public puts up with more and more abuse, suffering in silence, discomfort and security-angst. As long as the customers don't complain loudly and clearly, the abuses will only get worse.

Cheap Tickets in Lap Class?

When will the airlines offer Cargo Class flights, where they wrap you in insulation and stack you in the hold? Then comes Lap Class---cheap tickets if you're willing to sit on someone else's lap. And cheaper still if you let someone sit on your lap. Eventually there'll be O.H.C. Class---Overhead Compartment Class, where you get to lie flat and motionless in the dark space where carry-on luggage used to go. It may be claustrophobic, but boy is it cheap.

I kid, of course, but with a frown, not a smile. Air travel on domestic airlines wouldn't be so bad if they kept pace with many foreign airlines. I flew recently from Mexico City to Quito, Ecuador via Panama City, and return, on an airline known as Copa. Never heard of it? Neither had I. But Copa did a fine job---hot meals and free booze on all four segments, and service with a smile. (Stay tuned for an article later this month on the Galapagos Islands, which is where I was headed from Quito.)

My Copa experience compares with a recent flight on American Airlines from Los Angeles to New York, departing LAX at noon (commonly known as the start of lunch time) and was served nothing more than a bag of peanuts. I would have bought a box lunch, but they had run out long before the cart go to my row. (Of course, I should have bought a lunch-to-go at the airport, but the long wait at security didn't allow me time for such a luxury.)

Want to use frequent flyer miles? Fuggedaboudit. Airlines are allowing fewer freebie seats per flight, and encouraging more customers by giving miles for credit card purchases. Screeching frustration is the result for loyal mileage customers.

Meanwhile, the inane security procedures, which reportedly are of no value whatsoever, get even more ridiculous. I've been on a number of flights, and heard of more from other travellers, where passengers have to go through a security check after they disembark from a flight! As if you acquired some forbidden hair gel at 30,000 feet.

Better to Drive?

Given all the time wasted---getting to the airport up to two hours in advance, suffering ever
more frequently delayed flights, waiting for baggage to arrive from another planet---I have crunched the numbers and find that for any journey of upwards of 300 to 400 miles, it's better to drive. My crunching takes into account weather, costs, urgency of the trip, number of people travelling with me, amount and type of baggage, need for a vehicle at the destination and time of day for outbound and return trips. The wear and tear of driving is about equal to the frustration and jostling of flying. Bottom line: I'll pick driving over flying.

"Open Skies" Agreement Offers Hope

Naturally, overseas trips aren't conducive to driving. If you are planning a trip abroad, there is some hope for better times ahead. Starting on March 30, the "Open Skies" agreement goes into effect, That's a pact between the U.S. and the European Union which will allow any airline from either side of the Atlantic to fly to any member-nation destination on the other side. Until now, for example, European-based airlines flying out of the U.S. could fly only to their home country. Air France could fly from the U.S. only to French destinations. British to British. And so on.

Open Skies will allow Air France, for example, to fly from Los Angeles to Rome. Or British Airways from New York to Amsterdam. And vice versa. The European airlines are now plotting out which routes they think will be profitable, and the competition by this summer could be ferocious. That could mean cheaper airfares, as the airlines scramble to create revenue.

Keep your eyes wide open for good deals via the Open Skies agreement. Shop around like you've never done before, both on the Internet and by phoning the airlines directly. Travel agents should be on top of all the good deals (but be prepared to possibly have to pay the agents for their ticketing services.) If you see heavy duty advertising for specific international routes, that could mean a lot of empty seats are available on those routes, which could in turn mean lower prices.


Most all transatlantic flights do offer meals and free booze, but those amenities might end if prices are forced down by competition. Check with each airline to learn what will be served, and prepare accordingly. (As a courtesy to your seat-mates, skip the onions on your Whopper.)
And please, for the benefit of anyone who will be flying in the future, if you are treated poorly complain long and loud, in writing. If you don't, the abuse will only get worse.