AAII - nonprofit investing organization

I have been an investor for over 15 years now. During that time I have subscribed to various publications, especially magazines, like Money, SmartMoney, and Kiplinger's.

At least once a year I would receive a letter from AAII - American Association of Individual Investors. Years ago, I noticed that at the end of the letter the yearly membership fee was slashed with the wording of something like "this is a one time offer" or "the dues has never been reduced before, act now."

Well, that was an outright lie, because I would get that same letter at least once a year. AAII has been praised by many publications as being a trustworthy valuable newsletter. To me, if they lie on their marketing material what do they do in their newsletter!

So several years ago, I wrote the CEO a letter, placed it in the postage paid envelope, and mailed it to AAII. Of course, I have never heard from them regarding the matter, but the new marketing letters I now receive just slash the yearly fee without any comments.

Since AAII is a nonprofit organization they need to submit an IRS Form 990 which lists their revenue, expenses, and salaries of the top people. The best website I have found that posts this information is the NCCS.

Upon looking at the 990 for 2009 we find their revenue was about $6 million and expenses were about $7.5 million. Of the $7.5 million in expenses about $3 million was for the salaries of the 28 people that work there. Of those 28 people, 9 make more than $100,000 per year. The chairman and the president/ceo each make almost $500,000 a year with their salary and benefits.

My point? For being a nonprofit it sure does sound like the chairman and the president/ceo make a nice profit for themselves! But these are just my thoughts.

Oh, and their investment income last year: $-264,774. Thanks, but I think I'll stick with my own investing plan and program.

Book Review

An Anchor for the Soul by Ray Pritchard


This is a book for those people that know very little about God and are interested in learning about Him. It is like an introduction to the Christian life. The book is less than 200 pages, but is a quick easy read.

The author has a writing style that would interest a seeker or someone curious about God, yet it presents the facts of Christianity in a simple, clear and correct way. This isn't an easy believism, make you feel good kind of book. The book presents Christ in a real, living manner.

I think the subtitle of the book really says it all, "Help for the present, Hope for the future."

I recommend this book for anyone wanting to know more about God yet aren't prepared to jump into His Word.

Book Review

Basic Elements of the Christian Life by Witness Lee and Watchman Nee

This is more like a booklet. It contains 5 small chapters about the basics of a Christian according to Lee and Nee. The five chapters each introduce an element of Christian living.

The chapters are:

• The Mystery of Human Life


• The Assurance, Security, and Joy of Salvation


• The Precious Blood of Christ


• Calling on the Name of the Lord


• The Key to Experiencing Christ - the Human Spirit

The authors are right on with the first two chapters but then start to proclaim some things about the blood of Christ that seem a little off to me. In particular apply the blood of Christ to your life and sins. According to the authors, once the blood has been applied to cover your sins, if Satan still bothers you, then you need to talk to Satan and tell him that Christ has covered your sins.

Here is a sample conversation with Satan from page 28. "Satan, I have confessed my sin to God. He has forgiven my sin, and the blood of Jesus Christ has cleansed me from it. This uneasiness that I sense right now is not from God; it is from you, and I reject it! Satan, now you must look at the blood of Christ. That blood answers every one of your accusations." I am not so sure striking up a conversation with Satan is a good idea. He is pretty clever and crafty.

In the next chapter, the authors stress the practice of calling on the name of the Lord. This must be done out loud. It is not just merely a prayer, but a shout out to God. Again according to the authors it helps us be saved in a more richer thorough way. I am not sure what they mean by more thorough. You are either saved or you are not.

Therefore after reading through this booklet, I cannot recommend it. The Living Stream Ministry gives out a lot of free books and pamphlets based upon the teachings of Witness Lee and Watchman Nee. I would be very suspect of any of their writings. While I believe some of what they say is biblical, other concepts appear to have been twisted from Scripture.

BIC Hybrid Advanced

After two months of use I am giving my review of the BIC Hybrid Advanced razor. As previously noted in my letter to BIC, these razors are bad.

This is a three blade disposable razor cartridge system. Each package contains a handle and 6 cartridges.

The razor costs about $6 for the handle and 6 cartridges. The cartridge connection to the handle is very cheap and I believe could easily break. I actually paid $3.99 for the razor, so my cost is about $0.66 per razor.

The vitamin E lubricating strip is junk as well. It didn't seem to do anything at all. The back of the cartridge head is tight and gets clogged easily. I found the shave to be very bad. It wasn't close at all, yet it somehow managed to cut me frequently.

In other words, even at $0.66 a razor, it isn't worth it. My rating is a 40%.

The next razor up for review in two months is the BIC Flex 4. This is the razor I bought with my free coupon from BIC. We'll see if it works any better.


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Revenue Problem or Expenditure Problem

I have heard multiple people (all belonging to the Democratic party) say that we don't have a spending problem, we have a revenue problem. This means the government is spending the right amount of money, it's the taxpayers who aren't giving the government enough.

We'll I'm not going to argue with them anymore. I will simply refer them to the Financial Management Service division of the Treasury website.

Here is what it says in case you don't feel like clicking on the link.

Gifts to the United States Government

How do I make a contribution to the U.S. government?

Citizens who wish to make a general donation to the U.S. government may send contributions to a specific account called "Gifts to the United States." This account was established in 1843 to accept gifts, such as bequests, from individuals wishing to express their patriotism to the United States. Money deposited into this account is for general use by the federal government and can be available for budget needs. These contributions are considered an unconditional gift to the government. Financial gifts can be made by check or money order payable to the United States Treasury and mailed to the address below.

Gifts to the United States
U.S. Department of the Treasury
Credit Accounting Branch
3700 East-West Highway, Room 622D
Hyattsville, MD 20782

There you have it. Anybody that thinks the government has a revenue problem can make a contribution to the government to help alleviate the situation!

Just my thoughts for today!

Response from Bic

As mentioned in the previous post I contacted Bic about their Hybrid Advanced razor.

On their website it states that BIC does not give cash refunds or free samples or coupons. So I wasn't exactly sure what BIC was going to do to uphold their Performance Policy.

Here is the email that I received from BIC regarding the razor.

*****
Dear Mr. Matthews:

Thank you for your comments regarding the performance of the BIC Hybrid
Advance Shaver.

We care a great deal about the quality of all of our products and were
sorry to learn that you were disappointed with the way our shavers
performed for you. This information will be helpful to us in our
continuous effort to provide BIC products of the highest possible
quality.

We will send you a BIC Shaver replacement coupon, which can be used
toward the purchase of any of our shavers. We appreciate your patronage
and hope you will continue to be a BIC customer.

Sincerely,

BIC Consumer Affairs Team
*****

I received the coupon in the mail and purchased a BIC Flex 4. I will start using that razor next month.

Letter to Bic

The other day I found some new BIC Hybrid Advanced razors on sale at Giant Eagle so I decided to buy it and test it out. This is a three blade disposable cartridge type razor. After the first shave I realized these razors are garbage. All it did was cut me up and didn't even give me a close shave. After 3 shaves I decided to contact BIC. Below is my email to them. We'll see what they say about their product. ******** I purchased the BIC Hybrid Advanced razor the other day and I have found it to be the worst razor I have ever used, which is strange because I like the regular BIC Advanced razor. The razor doesn't seem to give me a close shave. It seems to just cut me without cutting the hair if that is somehow possible. Also the lubrication strip does not seem to work at all. I am thinking I got a bad batch or something. Was there any recalls or problems with these razors recently? Can you tell me the process to receive either a refund or replacement? Thanks

Book Review

The Glory of Heaven by John MacArthur This is a good book about what the bible says about Heaven. There are only 6 chapters by MacArthur. The rest of the book contains four sermons or messages from other people (Richard Baxter, Thomas Boston, Charles Spurgeon, and J.C. Ryle). The first two chapters look at the modern culture's (incorrect) view of heaven. The other four chapters describe what the bible actually says about heaven. Overall, I thought MacArthur did an excellent job with the biblical description of heaven. In particular he did a great job describing not only what heaven will be like, but what we will be like in heaven. While I am sure the four sermons at the end of the book were excellent, I didn't get much from them simply due to the wordiness of the writing (these writings go back several hundred years). If you are interested in the biblical description of heaven I would recommend getting this book and at least read chapters 3-6. .

Kenmore Electric Dryer Bearing Replacement

This weekend I decided to replace the bearing in my Kenmore Electric Dryer, model #417.80042990.

The dryer started squeaking sometime last fall. I purchased the part in October to repair the dryer over Thanksgiving or Christmas, but the dry stopped making the noise. Of course, right after the new year it started squeaking again.

The process was pretty easy and only took about 2 hours. It can be accomplished by one person, but it helps to have a second person available to help.

Here is a list of tools you will need:
Several sizes of Phillips head screwdrivers
Flat head screwdriver or other prying tool
Shop-Vac
Wire Cutters
Socket-Set

Turn the the circuit breaker off for the dryer!

Remove the top cover of the dryer. This is done by prying up the front near the tabs. This takes some force. Once the front is off the tabs, the top will lift off the tabs in the back. Remove the ground clip from the dryer.

Remove the front cover of the dryer. There are two screws about 6 inches down from the top on each side. Remove these screws and the front cover will fall forward. Disconnect the control wires on the right side. You may need the wire cutters to cut any plastic ties that hold the wires into place. Lift the cover out of the bottom tabs. This too takes a little force.

Get behind the dryer and remove the access panel/vent in the lower corner. Remove the spring to release the tension on the drive belt. Slide the belt off the drum to the back of the dryer. Lift the drum up out of the plastic cup, about 2-3 inches. This will take some effort, you will know when it is out.

You may need to remove a yellow plastic stopper on the front of the dryer to slide the drum forward. Remove the plastic piece on the back of the dryer. Install the new plastic piece with the ball bearing on the back of the dryer. The jagged corners of the back plate face the back of the dryer.

Remove the three screws holding the metal plate onto the back of the drum. Install the new metal plate.

Vacuum all areas of dust and lint. Lubricate the ball bearing and the metal ball on the plate attached to the drum.

Reinstall the drum into the dryer. Reinstall the belt and spring. Reinstall the front cover by placing the bottom in the tabs then screwing the top into place. Reconnect the wires (they are keyed to only connect one way) and use a cable tie to keep them out of the way of the drum. Reinstall the access panel/vent on the rear of the dryer. Reinstall the top cover by inserting the back tabs into the slots. Also reconnect the ground wire near the back. Then press the front of the top down to secure it.

Turn the circuit breaker back on and test.

Panera Bread

It seems like any time I go to Panera Bread I am over charged, of course I never question or complain about it because I don’t want to seem like a cheapskate.

Back in January, my wife and I ordered a U Pick 2 with 1 signature dish.
The order was for ½ turkey sandwich, 1 cup soup and the signature dish was to be mac n cheese. The order should have been $7.19 plus the drink for a total of $8.78.

Instead I was charged $4.99 for the mac n cheese for a total of $13.17. Even though I specified with the cashier that the mac n cheese was to be part of the U Pick 2 with signature dish it was still charged incorrectly.

Maybe I am wrong with my assumption that the mac n cheese could be an add on to the U Pick 2. It is just frustrating when you are over charged or at least you think you are over charged because the menu/cashier isn’t clear about the choices and pricing scheme.

I even contacted Panera through them website but have yet to get a response from them.