Where can I see your show? It is a question I get a lot. Mary Talks Money is my newest television show. It is produced by ABC and WPVI-TV for the local owned and operated stations. It can be seen weekends on ABC stations in NY, LA, Chicago, Philadelphia, San Francisco, Houston, Raleigh, Fresno, Flint and Toledo. Check local listings for the ABC station in those markets for our show times.  You can also find the show on the new TV network LiveWell TV. It airs nightly at 8:30pm.  To find LiveWell TV in your area click here:  http://livewellhd.com/feature?id=6775183

We archive all of our shows on the LiveWell website: http://livewellhd.com/marytalksmoney/channel?id=7190015

Most importantly, I want you to be a part of the show. Email me by hitting the contact button on the navigation bar above or follow me on Twitter: http://twitter.com/marytalksmoney

What money topics do I cover? Nothing is off limits. Let me know what interests you. Here is a sample of some of the topics we have covered recently:

• Loaning Money and Career Success
• Addicted to Shopping
• Branding Yourself
• What’s the Price of Privilege?
• The Benefits of Bartering!
• What To Do After You Lose Your Job
• Living off the Grid!
• Is a Man Your Financial Plan?
• Are You Teaching Your Kids to Be Financial Failures?
• Oh, Baby!
• Get Dressed for Less
• When Money and Marriage Don’t Mix
• Do You Have a Million Dollar Idea?
• Say “I Do!” to Saving Money on Your Wedding!
• We’re Going to the Dogs!
• Spend Smart to Look Sharp
• It’s a Gold Rush
• The Road to Car Buying
• Saving for College
• Upgrade Your Home Without Spending Big Bucks
• Retirement Planning
• So Young and So In Debt!
• How to Slash Your Spending Without Sacrificing!
• Start Your Own Business
• Inside the Minds of Financial Planners

This was sent to me from my pal Jeannie Fallon from Edmunds.com
SANTA MONICA, Calif. — August 25, 2010 — Edmunds.com, the premier online resource for automotive information, today announced that according to its latest update of True Market Value® (TMV®) Predicted Price Trends at http://www.edmunds.com/tmv/alerts.html, more than 90 percent of new cars are expected become less expensive (or to sell at their current relatively low prices) in the next 30 days.

“The next 30 days will be the best time of this year to get a great deal on a car, as there is still sufficient selection of old model year bargains and prices are generally trending downward,” stated Edmunds.com Senior Analyst Jessica Caldwell.

Edmunds.com estimates that just under 80 percent of new cars and trucks sold today are 2010 model year vehicles, but that dated inventory is declining quickly as dealerships are seeing more traffic from bargain-hunters who have been anxiously waiting for year-end sales. Today’s shopper are finding particularly low prices on the 2010 Chevrolet Silverado, Ford F-series and other models that have been updated for 2011.

Based on seasonal trends, Edmunds.com analysts anticipate that within the next 30 days, automakers may boost incentives for:

· Large SUVs such as the Chevrolet Suburban, the Ford Expedition, and the Nissan Armada

· Large vans including Chevrolet’s Express line and Ford E-Series wagon line.

· Premium luxury cars such as the 2010 BMW 7 Series, 2010 Audi A8, 2010 Mercedes Benz S-Class and 2010 Volvo S80.

“No dealer wants 2010 model year inventory on their lots in 2011, but that is especially true for the premium luxury segment whose shoppers tend to be among the most image-conscious. These vehicles are largely languishing on dealers’ lots right now, and as we get closer to year-end it will become easier to make a deal on one,” noted Analyst Richard Arca. “We also expect dealers to be increasingly flexible when negotiating prices for last year’s hybrid vehicles like the 2010 Ford Fusion Hybrid, 2010 Honda Insight, 2010 Mercury Milan Hybrid and 2010 Toyota Camry Hybrid. Gas prices aren’t high enough to motivate shoppers to consider them, especially when incentives are fairly generous on some of their non-hybrid counterparts. Dealers are ready to clear out the old inventory and may make some compelling deals, especially as some new competitors are entering the market.”

On the flip side, consumers will pay a premium to buy newly redesigned models such as the 2011 BMW 5-Series, 2011 Ford Fiesta, 2011 Infiniti QX56 and 2011 Jeep Grand Cherokee. However, given the economy, a few months after they become available, it is likely their prices will fall too.

About Edmunds.com, Inc. (http://www.edmunds.com/help/about/index.html)

I love the US Open. It is an end of summer tradition for my family. It is an event I have both worked and attended for more than a decade. It is now part of my DNA. There is something about the electricity of New York City, combined with the final slam of the year that creates magic on the court. It is where aging heroes have their last stand and newbie’s hope to make a name for themselves. Walking into the Billie Jean King National Tennis Center, there is always promise in the air.

This year we get to see if Andy Murray can pose a threat to the mens game dominated by Federer and Nadal. In the men’s draw, Rafael Nadal will have to defeat No. 4 Murray in the semifinals. The two met in the 2008 semifinals, a match Murray won over two days. Nadal is 8-4 overall against Murray but has lost four of their last five meetings on hardcourts. Nadal is looking for his first US Open title, which would give him his third Grand Slam tournament title this year and the career Grand Slam. On the other side of the draw it could be a Roger Federer/ Andy Roddick semi-final. Who can forget their 2009 final at Wimbledon? I will miss Serena Williams, who is not playing because of a foot. She will, no doubt, be cheering on her sister Venus. Two-time US Open champion Venus Williams looks to have a favorable section until the semifinals, when she could face defending champion Kim Clijsters. The two met in the fourth round of the 2009 US Open, with Clijsters advancing in three sets. BTW If you get a chance, check out Venus’ new book ‘Come To Win.’

As much learning as there is to be gained at the Wharton Leadership Conferences (see my blog post of June 17th below), not all of it is one way — dispensed from the podium outward.

A few conferences ago, I was sitting nearby a fellow participant. We may have exchanged a few pleasantries at some point — program leader Mike Useem favors having all the attendees get up from their seats and do a 360 turn of hellos right at the beginning of the day. But any exchange was inconsequential. Until, that is, late in the afternoon session. Here is what transpired.

Sitting in the same row of seats, we listened to a CEO of a venture-backed company give a presentation on his leadership of the firm. Conditions in his industry were tough at that time — tough as in fairly dire. His leadership mostly had to do with keeping the firm afloat.

In the CEO’s telling, there came a point when there was no way to avoid it — he was going to have to suck it up and ask his venture backers for more funding. He didn’t want to do it. He really did not want to do it. He sweated and fretted about it for days on end. If he could have found any way out of having to make that request, he would have jumped at it with alacrity. Alas, a cash call was the only option for salvation. With fear and trembling, he reached out to the moneymen.

And guess what? They said okay. They didn’t say,”No problem,” but they didn’t carve a pound of flesh off the CEO’s hide. He got his needed extra funding, and all was well with the world and, eventually, the business. He lived to tell the tale at Wharton.
Here is where the real learning from that CEO’s story came for me. This fellow near me looked over at me and said, “It just goes to show — you have to give someone the opportunity to say ‘Yes.’ ”

What a lesson in leadership. For anyone. At any level of the organization. And in life itself. Give someone the opportunity to say “Yes.”

For the record, I came to learn that this wise commentator was Alan Berson, an executive and leadership coach with his firm Pulse Point Coaching.

James Kristie is the editor and associate publisher of Directors & Boards, a quarterly journal and a monthly online newsletter (the e-Briefing) of high-level leadership, governance, finance, legal, and strategic issues. He has been editor since 1981, and associate publisher since 1991. Directors & Boards has as its primary readership public-company directors, chairmen, CEOs, and other senior management and board advisers.

More of James Kristie’s wonderful writing can be found at http://jameskristie.blogspot.com/

It used to be the only folks who had to master the 30 second elevator pitch were in Hollywood. Now we all need it. Not just because the job market is so awful-  that is part of it. But even after the unemployment rate falls there will still be a need to have a great pitch because the pace of doing business has changed – it is so much faster and will remain so.

Have you tried you elevator pitch out on someone who will give you honest feedback? If you haven’t then you need to.  If there reason you haven’t is because you don’t have a pitch ready then I have a few good tools for you to get started.

One I love and have recommended time and time again Peggy Klaus’ book BRAG! The Art of Tooting Your Own Horn Without Blowing It. This book should be on every job seeker’s bookshelf. I have interviewed Peggy several times and each time I walk away feel more confidant talking about myself. This is saying a lot because that is the one subject I HATE to discuss. Growing up one of nine kids means bragging got you alienated not celebrated. Peggy shows you the difference between obnoxious bragging and positively sharing how you may be of service to someone else. It is a mind shift.

Here is a link to Peggy’s site http://www.peggyklaus.com

I also came across another fabulous example of the difference between sounding like a jerk and sounding like a pro in the 30 second pitch. Marc Cenedella is the Founder & CEO of  TheLadders.com. In his weekly newsletter he crafts two versions of his own elevator pitch. The first is what NOT to do, the second he hits it out of the park. Here is an exerpt:

You’re not going to enjoy reading it, and I’m certainly not enjoying writing it, but in the interests of science, I need to take you through that experience of awkwardness and embarrassment in order to explain how and why to do it right.
Our first effort, which is similar to what most of us try when we make our elevator pitch, is this:

“I’m a serial entrepreneur that started a company exporting US-made pet food to Japan after college. I graduated in the top 5% of my class at Harvard Business School, and was then the lead corporate development guy on the sale of HotJobs to Yahoo in 2002 for $436 million. I founded TheLadders.com seven years ago to focus on bringing high-level talent together with $100K+ jobs, and the company has grown to be an international success with over 300 employees.”

Ugh.
Frankly, you’re probably wondering: “Why is he telling me this? What his purpose for bragging like that? What a creep!”
And I can tell you that, sitting here on a Saturday afternoon writing this, it makes me feel like a boasting, shilling, pompous stuffed shirt.
And I know that’s how a lot of you feel about crafting your elevator pitch, too, so let’s understand why this is not an effective pitch.

It focuses on accomplishments and achievements.
In our culture here in the US, when you say something about yourself, particularly something positive, people look askance. When somebody tells us how wonderful they are, we instinctively worry about their reasons for doing so, and question their character, truthfulness, and personality.
Sure, they might have a lot of nice accomplishments, but what if they’re as much of a braggart when they actually take the job?
Ick, that’s not going to be somebody fun to work with.

And it’s crafted in a “professional voice.”
This is not how people talk to each other, so of course, if I were to say this out loud to somebody, it will sound awkward.
When you speak in a professional, or announcer-like, or “official correspondence” voice, it dehumanizes you and puts a distance between you and the listener. They feel they have to put up their guard and be on the “watch out” for you because you must be trying to sell them something.
Well now, of course we want the elevator pitch to help us get a job, so why don’t we take another crack at it? And this time, instead of trying to sound like a stuffed shirt, we’re going to be human and real:

“My passion in life is jobs. I love everything about them. It combines the soft stuff — people’s dreams and hopes and ambitions — with the hard stuff — where the jobs are in the economy, the numbers and algorithms and technology that make it possible. I’ve been doing this for over a decade and I find that I’m learning something new about making job hunts successful every day. Helping people through what is one of the most stressful experiences in their lives is tremendously rewarding and fulfilling, and I love doing it.”

OK, which dude do you want to work with? The professional accomplishment elevator pitch or the conversational motivations pitch? Which guy would you invite to an interview?
I think you’ll agree with me that the second one is far more effective. Why?

I’m speaking about my motivations.
As opposed to crowing about accomplishments, I’m telling you why I like doing what I’m doing.
And in our culture, we tend to trust people and believe them when they tell us what their motivations. It feels like they’re being open and honest, and that they are sharing with us something about themselves. And from a tactical standpoint, it helps the recruiter, HR person, or hiring manager know a little bit more about what makes you tick, and how and why you want this particular job.

It looks to the future.
If you were hiring a Chief Job Officer, the second pitch lets you know that this is somebody who is engaged and passionate and excited about doing more job-related work in the future. The first pitch doesn’t.

It sounds like a human conversation.
I call this “The Bud Test.” If you can’t say your elevator pitch to friends and acquaintances over a Bud, or a tasty Arnold Palmer, at the backyard barbeque, it is not an effective elevator pitch.
Speaking like a regular human being makes you more approachable, believable, and likable. It feels less like a shill and more like an open-hearted conversation. And people want to help people that they believe and that they like.
So if you agree that the second elevator pitch is better, how do you craft your own?
Try this.
Answer these questions in a “real” voice. Like you’re speaking to your mother, or your college buddies, or a couple of friends on the golf course. (You know, I might even recommend that you speak into a voice recorder, or just go ahead and call your own voicemail, and answer these questions out loud. That’s the best way to get a conversational tone….)

• Say, TV, why do you like your work?
• Why have you been doing this for 10, 15, 20 years?
• What is it that you find interesting about it?
• No, seriously, TV, don’t talk to me like I’m your boss, what do you really find interesting about it?
• Why do you want to stay in this field?
• What do you like about this industry?
• When you’re in the shower in the morning, what types of challenges at work make you excited to get the heck to the office as soon as possible?
• When are you having the most fun?

And then take those bits and make a conversational elevator pitch that focuses on your motivations, not your accomplishments.

Here is a link to Marc’s newsletters: http://finance.theladders.com/career-newsletters

Marc and Peggy are two great resources, there are others too. But to really nail your pitch- you must practice it over and over and get honest feedback from someone who is rooting for you, but also isn’t afraid to tell you your butt looks big in those pants! Make sure you are open to the feedback too. When I craft a clever line in a story I tend to fall in love with it, when in reality if it really is that clever, it is probably a distraction to the reader and should be yanked. So stay open to tweaks and make sure the voice of the pitch really is authentically yours.  Good luck crafting and practicing your pitch and feel free to send it to me– I will be happy to post your thoughtful effort. -Mary

By SAMANTHA BOMKAMP/ AP Airlines Writer

NEW YORK (AP) – A rogue JetBlue flight attendant’s explanation

that an uncooperative passenger caused him to melt down and slide

down a parked plane’s emergency chute may not hold water, the

airline says in an internal memo.

And even if it’s true, a bad day at work is no excuse for flight

attendant Steven Slater’s behavior, JetBlue says in the memo

obtained Friday by The Associated Press.

Slater went onto the public address system Monday on a plane at

New York’s Kennedy Airport after a JetBlue flight from Pittsburgh,

cursed out a passenger he said had treated him rudely, and then

slid off the plane.

He was arrested, charged with criminal mischief, reckless

endangerment and trespassing, and released on bail. Slater’s

attorney says a passenger’s “lack of civility” prompted his

behavior.

JetBlue Chief Operating Officer Rob Maruster says in the memo

that the airline is still investigating, but that no one has yet

corroborated Slater’s version of events. In fact, JetBlue notes,

several passengers “have given interviews that tell a different

story.”

“If Mr. Slater’s story proves to be accurate, and even if there

was a precipitating event that motivated his behavior, that still

doesn’t excuse his actions,” Maruster wrote.

Slater has been hailed as a working-class hero on social

networking sites for the ultimate take-this-job-and-shove-it

moment.

The airline said “the most distressing aspect” of news

coverage is that the danger of deploying an emergency slide hasn’t

been taken seriously enough.

“Slides deploy extremely quickly, with enough force to kill a

person,” the letter to employees read. “Slides can be as

dangerous as a gun.”

Maruster added that the “episode does not reflect the

professional and sincere service you deliver to our customers every

day.”

(Copyright 2010 by The Associated Press. All Rights Reserved.)

By JEANNINE AVERSA
AP Economics Writer
WASHINGTON (AP) – The Federal Reserve has little power left to
lift the economy out of its rut. Congress, with an election
looming, has no appetite for more stimulus. Shoppers are reluctant
to spend, and businesses are slow to hire.
Let’s face it: There is no easy or imminent fix for the flagging
recovery.
The sluggish economic summer wore on Friday with news that
Americans spent less at most retail stores in July. Earlier this
month came word that the trade deficit is ballooning and companies
are not adding jobs fast enough to bring down unemployment.
Typically, the Fed can lower interest rates to encourage
Americans to borrow money and spend it, invigorating the economy.
But the benchmark interest rate controlled by the Fed has been
almost zero for more than a year now.
The Fed this week took a new step by announcing it would use the
proceeds from its huge portfolio of mortgage securities to buy
government debt. The idea is to make cheap credit a little cheaper,
particularly for things like mortgages.
The problem there: Americans who are worried about their jobs,
not to mention volatility in the stock market, don’t want to
borrow. They saved 6.2 percent of their disposable income this
spring. Before the recession, it was more like 1.2 percent.
“You can’t force people to take out a loan or spend money that
they don’t want to spend,” says Alice Rivlin, who served as the
Fed’s No. 2 official in the late 1990s.
Sure, the Fed still has options. It could launch another
trillion-plus-dollar program to buy government debt or mortgage
securities like it did when it was battling the recession and
financial crisis.
Or the Fed could cut to zero the rate it pays banks to keep
money parked there, a move aimed at getting banks to lend more. But
banks are not exactly feeling free with their cash, either.
“It’s a pervasive level of uncertainty that people and
businesses feel about their economic futures,” says Ken Mayland,
president of ClearView Economics. “It’s frozen them into
inactivity.”
Congress has the power to regulate the economy by adjusting tax
rates and passing stimulus programs – the side of the equation
known as fiscal policy, as opposed to the Fed’s monetary policy.
But there is little interest on Capitol Hill to undertake a
major new stimulus effort. The midterm elections are less than
three months away, and Republicans and Democrats alike fear voters
are worried about the federal budget’s $1.4 trillion – and rising -
deficit.
A scholar of the Great Depression, Fed chief Ben Bernanke has
warned Washington policymakers not to repeat mistakes made during
the Great Depression by pulling in government stimulus too quickly.
Bernanke also suggested recently that extending the Bush tax
cuts, at least for a while, would be “one way” to “maintain a
reasonable degree of fiscal support – stimulus – for the economy.”
But Democrats and Republicans are divided on what to do. Most
Republicans want to make permanent the tax cuts enacted under
President George W. Bush in 2001 and 2003. That would amount to
nearly $3 trillion over the next decade. Democratic leaders want
the cuts for the wealthiest Americans to expire.
That leaves the work of jump-starting the economy for the time
being to everyday Americans and businesses, who can spend money and
accelerate the cycle of growth. But both are in a frugal mood.
Mortgage rates have sunk to record lows: Rates on 15-year
mortgages dropped to 3.92 percent this week, 30-year mortgages to
4.44 percent. Still, people aren’t scrambling to buy homes or
refinance the ones they already have.
Businesses, meanwhile, are sitting on a record $1.84 trillion
pile of cash, according to the Fed. They aren’t using the money to
expand operations or hire new workers because they, too, have
doubts about the strength of the economic recovery.
The economy grew at a 2.4 percent pace in the second quarter,
about half as fast as it was growing late last year. And it may
turn out, as the manufacturing sector is hurt by declining exports,
that growth right now is even slower than we think.
And the stock market, which had managed a significant rally in
July, is now absorbing the blow of the economic pessimism. The Dow
Jones industrial average fell this week from about 10,700 to about
10,300.
The key, says former Fed governor Randall Kroszner, is making
people feel more comfortable and confident that their jobs are
secure, and that the values of their homes and 401(k) accounts will
stabilize.
It’s just that no one is sure where that confidence will come
from.
“There is certainly no magic bullet to immediately turn thing
around,” he says.

(Copyright 2010 by The Associated Press. All Rights Reserved.)