| Show Ir fold' Cards 11 4 7 I Are No Deal i States Report z 04 it-- 4 ! w WASHINGTON (UPI) — Millions of Americans are signing up for "gold" credit cards that offer services most consumers don't need and at higher fees they could often avoid the nation's largest bank-car- d consumer group said Thursday "179r many the cards will mean lit tie more than higher rates and fees t and snore plastic profits for the :bank that issue them" said a statementi issued by the Virginia-base- d Holders of America 1 Bankrard 1 The 75000-membconsumer grout issued a guidq to the premium or gold credit cards whose primary message is "con4umers will pay much higher annual fees for most gold cards than I for standard cards" "Cnnsumers are being inundated ' with gold card offers from virtually every major issuer of gold credit cards" explained BHA executive director Elgie Holstein noting that Americans are currently holding 228 million gold Visas and Master-Card- s alone "What we advise people is to consider carefully whether they really need St gold card considering annual fees tor the privilege of carrying 1 trlyt I j“ f1 In! IT er uu t non-prof- it 16-pa- ttt I - I? vqb a Iuic tc11 one': Holstein said one of the most common reasons people apply for gold card a is to obtain a higher line of credit "but they can often get it from their regular credit card just by nom LAtr'Al asking" The difference is that annual fees for Old cards are often higher The annual fees for standard cards Holstein :said range from free to $55 !"!Z1 TiP1 1111e t234 and average 617 while gold card annual tees range from free to $100 and average 836 The BHA guide notes that many benefits called "enhancements" in the industry are poor buys because they are either offered by lower-cos- t standard cards are little used by most 'consumers or duplicate coverage cardholders may already have Many homeowners' insurance policies for instance include the kind of purchase coverage offered by gold cards "Fewer than 5 percent of cardholders actually make use of the enhancements that come with gold cards" Holstein said "This means that unless you really think you may someday need one of the benefits save your money and stick with a igurl ti4 :ft rim 1?nin n111!') 1 t!4il 1r191 0' AiSq (11! )1119P frICL tntj10 standard card" The consumer group's director added the "prestige factor" that prompts many people to buy gold cards is fading "There's so many different colors and designs of (all cards now that impressing the waiter is harder than It used to be" Holstein said While BHA recommends shopping around for any credit card "a gold card is a good choice in particular if someone needs a particular benefit" Holstein said "For example if someone needs the extended guaran– tee program" LL ltt Itriti 1Jn !q:711 R11 1 VI DM" wle)11 vist0t I etli By William Neikirk Chicago Tribune Writer CHICAGO —This is the era of miscalculation Saddam Hussein did it when he sent troops into Kuwait causing the rest of the world to throw version of a up the modern-da- y siege But Saddam only caught the fever of the times Kuwait miscalculated by steadfastly refusing to protect itself and acting like the snobs of the Middle East The United States miscalculated by treating Saddam like a saint right up to the point when he sent troops across the border The Soviet Union miscalculated by believing that a medieval economy could support a modern army forever Then it proceeded to botch up the economic reforms by setting up competing economic republics and now there is the strong likelihood it could be split asunder within a decade Wall Street miscalculated by be- lieving the takeover movement would go on forever sucking into its greedy vortex precious capital and precious minds in the task of smashing up American companies only to pay the price with massive layoffs and a virtual recession in the nation's financial center Robert Campeau and Frank kkrenzo miscalculated thinking there was no end to the geavy train and now the retail and airline industries are in turmoil partly because they simply overextended themselves But there is no end to the miscalcula- tors in the takeover business who are now stuck with junk bonds or junk companies that won't survive in a severe economic downturn The US banking system made up of that horde of lemmings who once thought that Third World loans were a fount of unbelievable profits miscalculated by turning to real estate and junk bonds and now they — and we — are paying the penalty in the form of a credit crunch Money Market Yields Highest raw Highest yields reported by federally4ruured banks and thrills as of Sept 26 based on staled rotes and method al compoundOg tor lowest MMUM deposit avoibble Rgures in parentheses ore average annual effective yields offered by 100 large banks ids for Mits Individuci and thrifts k the top 10 CDs show both the annual eriecand five yield and the average annual yield the annual effecttve yield is the return tor the ftrst year or the Ca The overage annucd yield shows the Overoge return pet yea over the life or the CD assuming all interest remains on deposit ANA Armed Ellective Yield Nall Avg 605 817 Metropolitan Bonk tot Svgs Artington VA 803 Key Bar USA AlicallY NY 803 Va Beach Fed Svgs Bonk Va Beach VA 800 Rat Dep Nall Bk WIWI NH 800 New England Fed Svgs Wellesley MA 64deniti CD Annualized raid Nail Avg 769 kinualized yields are tor 12 months and ore based upon fate in effect at time account Is opened 860 Columbia Stil IMne CA 857 Capitol Bonk A bust Boston MA VA 856 Perpetual Svgs Bonk Alexandria MD 856 Chevy Chase Svgs Chevy Chase CA 851 Son Fed Diego Svgs Imperial 'field Noll Avg CD Annual &kWh 713 877 Heritage Svgs Bank Richmond VA Virginia Beach Fed Svgs Bank Virginia Beach VA 866 Sectsli SAL Scottsdale AZ ' 860 Colombia SR Irvine CA MA 857 Haymarket Bank Boston Is d The the annual effective yield column The d return CD first the on yield the year column shows the average annual yield That is adculated try dividing the total interest earned over the life at the CD by the number at years of the CD The restd Is expressed In percentage terms 25low CD AIWA IttectiveAmovo Attett01 Yields liart Avg& 794114842 878 936 Maine Svgs Bank Portland ME The Bank Man Trumbull CT 845 925 Rost Dep Nati Bic idol NH 866922 862 918 Home Svgs Bank Norfolk VA 861 918 CitibankSD &ma Falls SD Moor CD Annual IffectitoAvorogo Annual Thicis Nafl Amo 900 1077 Eastern Svgs Bank Hurd Valley MD 884 1055 The Bank Mad Trumbull CT 8 80 1049 Rot Consittuhon Bank New Haven CT AL 877 1046 New South Fed Svgs Birmingham VA kw 877 1046 Svgs Adington Metropotitan Bank 8400000 CDs Rote - 806047 Amerind Fed Svgs Bank Longmont CO Herbage Svgs Bonk Richmond VA Columbia SAL kvine CA Rtili 135 825 820 341enth Arnerica Fed Sorgs Bank Longmont CO Heritage Svgii Bonk Richmond VA Rrst 1145 835 Colombia Stil IMne 644onth 830 CA MONEY 10 MEG Compound Yields tor Period Industrial partners miscalculated when they adopted the notion that they could maintain a relatively steady value for their currencies such as the dollar and yen in highly unstable times Their policies have been an abject failure making it difficult for companies worldwide to plan their investments The Federal Reserve Board racked up perhaps the biggest mis- calculation of all by believing these last twt years that it could fine-tun- e the economy into a "soft landing" and kill inflation in the process Now we're going into a recession and inflation is soaring not subsiding I still fear the consequences of the old miscalculations but mostly I fear the prospect of new miscalculations that can only be imagined With the US and Iraq lined up in 1 Government-Only Money Puna Average Fidelity Spartan US Go vt MMF k 2 Benham Govt Agency Fund k 3 Transamerica US Govt Cash Res k 4 More r US Treasury k 5 Dreyfus US Guar MM Acct IP It 6 Kemper Money Market Gavt Pod 7 Rdelity US Treasury NNE k 5 Woodward GcM Fund 9 Vanguard MMR Federal 10 Government Sec Cash Fund vgpvIP Aid"0 a Ts-- I 845 818 816 807 806 802 795 798 796 794 (knout Purim Noisy Funds Ammo 775 860 Dreyfus Worichvide Dokar EANG k 2 Alger Money Markel Podfolo k hfinityPegasus Prime Poet k 4 INVESCO Treasurees MM Res h 5 Vista Premier Global MM k h 1151 851 831 820 815 815 813 813 6RdeltlyspartanMMFk 7 Evergreen MM Trust k 8 Vanguard MMR Prime 9 Woodward MME Manager's Gabelli-O'Conn- PM 811 Tax Frso Money Funds Avecogit 565 Dteyfus MI Municipal MMF k 2 Dreyfus PA KiniCipal MMF k 3 Templeton T4 Mory4 Fund k 4 Spartan NJ Municipal MMP k MME 5 USAA 6 Spartan PA Municipal MMP k MME k 7 Evergreen 8 INVESCO Treasurer's T4 Res h 9 Dreyks NJ Tax4xempt MME k 10 Calvert T4 Reserve CA Port k 647 644 630 628 67 627 64 624 60 619 Yield column represents compounded OffeaNa rate c4 return to shareholders for the pad seven days Post returns are not necessarily Indicative of future yieid& kwestment quality and maturity may vary among funds k- - manager absorbing a portion ot itmd expenset h requires MininIUM initial investment of $50000 or more c yield includes any capitol gains realized during the seven days ended Sept 25 1990 Reprinted in condensed form writ petridssion from 1BCDonoghue's MONEY FUND REPORT of H01110011 the cards however he added While some other fast food restaurants in Utah which are owned and operated by franchisees or franchisors permit Continued from 2 food industry She said at the National Restaurant Association's convention in Chicago in May IBM introduced a computerized ordering system 'which received "a great deal of interest from consumers and the trade Judging from that interest and the speed of service — which for restaurant operators is paramount — all indicators point to the fact that we will be seeing more of these systems in fast-foo- d D-1- v4 k Irt Arby's Inc: also recently announced it is planning to accept Mas- terCard and Visa credit cards at all its restaurants across the country The program will be implemented in two phases the first to be completed by the end of 1990 and the second to be completed by the fall of 1991 restaurants in Utah which will be included in the first phase will accept MasterCard and d Arby's-owne- Visa credit cards beginning Nov 1 a company spokesman in Atlanta said It may take as long as three or four days after Nov 1 for all of those Utah restaurants to begin accepting INNOmm" Portable Telephone Pit t 11 0 IN 11 t1 YOU)1)-)AIELY-- 6 t If you 1 can ros I t 14 th ! to 0 0 0 of ra e It ( aitgalt gakt Zribunt a c: r I: Lr sz711 e'71J ft --- -- -- I - — - i service 9‘' - 00 y 4 kt a 1 - 1 I do61 J ' i 0 ' : -- i'1- : - 4: lir ‘ 1 I '''"i't Mobile t Telephone 4 A Phone 5334111 II3Z1 1 adm --- i 4! it 1111131 ---- 1 4 r44!a4cu 544047d - I i)r Li Li 1 and BC! COMPUTER SYSTEM clr 0 Ell ci r - II I BACK BY I C -- U LA n 101 Keyboard I- Dtrildkti' --0 a a 386 SX : 0 00 4 S r-N- ( C- a tilIL Color VGA 40 Meg HD 286AT $1 - -- tIlnl iti1111 L o 0 o 0 499oo 4 a a a $ SALT LAKE'S AUTHORIZED PRODIGY DEALER (Any purchase of $100000 or more Not valid with any other discount program) o a s is is I i 12111 1 DESERET ri I 1- 1- ' W's":' r1 '1 r!' ' t i 2' i i -- liTT4 ilLs0 Vrvr f - 0crimil L co-I- 114r 1::!Xill 111 LINE :lit cf : t 4111F:) P W la 1 1 1 i p4-- polu 4411 -44 L i i''2 0' r 1 "- -- -1 0-- 1 e qprio Co l'' ' L ' Zif la' - !MESE i: 'It L'ilit ilFEtil 'll'kfa ?41Cjr:111!---i-!!:- ' 4 ''' taByt'o - 'coo - i :'i-rr t - -- j -- t i 1 -- -- 5 II K 1 f r i 1 - WI'''''ILIIIL L tc WATTS 0 I 1st CLASS ACCOMMODATIONS FOR TWO are Yours Newspaper Agency Corporation NEWS lo 1 ITIoN Te: ' Purchase a COMPLETE your HUNTER'S BONANZA CALL TODAY! 11 9 Presents COMPUTERS with ACCOMMODATIONS need to buy or sell any kind of hunting equipment you 1 1 1 t - - Air Time No Extra charge d The Hunters' Bonanza is your hunters' shopping headquarters Each day you can sight in on a herd of bargains TO HELP YOU BAG YOUR GAME! Retailers if you want to bag a hunter place your buy sell rent lease or service advertisements In the classified Hunters' Bonanza SEPTEMBER 30th THROUGH OCTOBER 31st In the Salt Lake Tribune and the Salt Lake Deseret News classifieds h 9 I -- 11 Unlimited ft It's just a quick hunt through classification 601 "EiLltITERS' BONIANIZA" 6 6 1 1 --- b I 1171 So West Temple f 0 0 0 I I classificbtion I ) I - i (1 -- 9 I sio: Answrini qfGeneral I V a - - ( II : FIND IT BUY IT OR SELL IT In 1 d oak 0--- tt-:- 4) Z-- 1 CLASSME 3) S! 1 1 11 a (a AG YOUR GAME! 11S P I )11 ' avaRrEllollENGA fire mago you 1 ' ot d MEOSIMEMOMRAMMKOMEM commuNammoN own t tit t I I d payment with a bank card the practice is not widespread Thus Arby's Inc claims it is the first fast food chain in the country to announce it will accept cards at all of its restaurants Arby's franchisees are invited to participate in the credit card acceptance program But since they are independent business people that is an option not requirement MasterCard was instrumental in helping Arby's set up the program The two companies have created a $1 million Joint marketing campaign signs and print featuring and broadcast advertising When the second phase of the program is completed there will be restauabout 250 company-owne- d rants participating in the credit card acceptance program Arby's spokeswoman Ellen Hartman said her company also claimed 1118 1 i the distinction in 1987 of becoming inthe first in the nation's fast-foodustry to accept credit cards by testing them first in Phoenix She said the company expanded the testing to restaurants in the Pittsburgh Cleveland and Youngstown Ohio areas Arby's also claims the distinction of this year becoming the first in the nation's fast-fooindustry to use a satellite broadcasting system known as Instapprove to obtain instant credit-carauthorization significantly reducing fraud and telephone charges Ms Hartman said "That's the key to the whole thing It takes 2 or 3 minutes at most grocery stores and retail establishments to check your credit card But with Instapprove it only takes 1 to 3 seconds" There are approximately 2300 Arby's restaurants throughout the United States Canada Asia the Middle East and the Caribbean In 1989 Arby's added a record 239 new restaurants and surpassed the $13 sales billion mark in system-wid- e d nationally-affiliate- restaurants" Mass 01746 Source: 100 HIGHEST YIELDS N Pcdm Beach Flo 33408 MONEYLETTER Holliston —Source: DONOGHUE'S Mass 01746 CONSUMER FINANCIAL NEWS SERVICE INC ffMTM Si 044 0'6 t Utah Arby's Joining Age of High Tech In Ordering by Touch of Computer 759 1 V gft'W :tx1 I End- 25 1990 1 10 ing public guaranteeing every penny they took in without bothering to check how they lent the money Ronald Reagan and his team of economists miscalculatsupply-sid- e ed when they told the world that cut ting taxes and raising military spending would magically bring in a treasure-trov- e of revenue balancing the budget Now we must live with the consequences of huge budget deficits for the next generation The Democrats miscalculated by believing that the public would buy higher taxes and distributing money from rich to poor Now they're seen as the party of the ineffectual lacking a real leader with a unifying economic theme for the country The US automobile industry miscalculated when during the first energy crisis it had nothing to offer the monsters public but Now it has scored anew in the miscalculation game entering the latest crisis with an array of vehicles that fall well below maximum fuel economy possibilities - YIELD Highest ed September 850 850 845 CO Americo Fed Svgs Bonk Longmont Brookside S&L Los Angeles CA Doltmouth Bonk Hooksett NH First warlike stances the danger of severe damage to the world's oil supply is high A miscalculation by either side could touch it off and a miscalcula- tion by the warriors could wipe out our prosperity Any time any group of US semi- ters and representatives gets into a smoke-fille- d room to try to work out a budget deal for the country I quake at the thought of the damage that could result This one has miscalculation written all over it The same goes for Alan Greenspan and the Federal Reserve Board Now that they've succeeded in winning the prize for miscalculation they're proceeding with a policy of throwing the country into a recession while they vainly try to halt inflation in such services as hospital and doctor bills They'll put millions of people out of work attempting the impossible These miscalculations cause everyone else to miscalculate so that the process feeds on itself Everyone miscalculates from time to time It's part of life The only problem is that in an interconnected technological world miscalculation grows more costly each time it is committed The American public miscalculated when oil prices plunged in 1986 and it started behaving as if there would never be another energy crisis despite all the warnings from experts Now it will pay for this because it must go back to practicing conservation it had abandoned The United States and its major The US government miscalculated when it deregulated savings and loan associations an industry filled with buccaneers and pirates and turned them loose on an unsuspect- (14 4'44 D13 Era of Miscalculations Adds Up to Costly Consequences t fA 4 The Salt Lake Tribune Sunday September 30 1990 —0 I I II ' IONVIdWOMEnik 1 I I u r j A 04 -- -- 4--4 4--44 44 4404 4 4 4 4 4 4 4 4 4 4 4 4 4 40-P14- e Obe 4 4 4 4 41 J44144444-444- 44 4 4 44 44 44 4 4 44 44444444445441414 '4 4- - 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