Online retailers are cheaper option for electronics

It may be wise to say "no" to brick-and-mortar stores when buying electronics.

The prices at retail stores can be pricey, even when looking to buy a simple electronic item like a basic USB cable. Based on several reports, the more complex the electronic item, the more expensive.

For example, a reporter at the Boston Globe refused to pay $30 for a piece of insulated copper with little connectors on each end. Rightfully so. When you're on the prowl for electronics, it may be smart to kick brick-and-mortar shops to the curb and head to the world wide web for great discounts and amazing steals.

For example, eBay offers simple electronics for a bargain. The same USB cable that sells for $30 in retail stores costs $10 including postage on eBay. Although still an auction house, eBay offers many products sold by small retailers for a set price. eBay comes in especially handy when looking for simple electronics. USB cables, headphones, cell phone chargers, iPod accessories probably won't malfunction. When searching for electronics such as televisions or cameras however, eBay can be a gamble.

eBay isn't the lone wolf of cut-rate digital accessories. Amazon.com has recently opened AmazonBasics, selling digital accessories priced extremely competitive. The selection is sparce, but what is there is gold. a Boston Globe article speaks of a 6-foot HDMI cable for high definition tv. At Best Buy the price is $13. Amazon Basics offers the cable for $5.54, with a total of $11.12 after shipping. Yes, shipping is a downside, although it is free when spending $25 or more.

When looking for electronics online, there are many sites offering great deals, so make sure to shop around. Many sites including Nextag.com and OnSale.com, offer discounted electronics.

OnSale.com offers savings on big electronics as well as accessories. There's even a current promotion being offered for laptops--up to 80 percent off. The New iPod Nano with digital recording is only $133.98.

Landline customers are cutting the cord

When it comes to your landline, You may want to ... cut it out.

In 2007, cellular phones accounted for 55% of all telephone expenses, where landlines only accounted for 43%, according to a recent report from the Bureau of Labor Statistics. And the younger the consumer, the more money is spent on cellular expenses. Children don't even think about forking over cash a landline. Not when one can easily talk for free on Skype, or be reached via cellphone with ease.

Landlines still trump cellular phones in terms of quality in some areas of the U.S. Features, such as speed dialing are better on landlines. However, cellular phones may soon be up to speed, leaving limited reasons for consumers not to go cellular.

In developing regions in China, India and Africa, the landline is being skipped over completely. Everyone who can afford line in India can afford a cellphone, because call plans are the lower than the norm. Low calling charges and cheap phones which is resulting in meteoric growth.

Forrester Research, a Cambridge based firm finds that saving money is the primary motivation for cutting the landline cord.

There are many services that optimize the savings. Skype offers a worldwide calling subscription from $9.95 a month. C-NET reports that T-Mobile is trying out an unlimited calling $50 a month plan, initially to customers in San Francisco. For family savings, AT&T offers add-a-line service for only $9.99 a month.

MetroPCS offers a very reasonable plan- at $40 a month, local, long distance, text messaging and voice mail are included. There is no limit on the amount of minutes that may be used per month. The disadvantage is that MetroPCS has very limited service, although over 300 cities have coverage.

Mass. consumers search for higher power

In more and more communities across Massachusetts, local officials and community activists are looking into money-saving wind turbines to accommodate their power needs.

Large wind turbines can generate hundreds of kilowatts of electricity and provide substantial savings on utility costs. However, some communities such as those along Nantucket Sound, have objected to the turbines because of their size and effect on local views of the water.

The cost of the turbines is another factor that has kept them from catching on. A single turbine can be more than $1 million, but the state does award credits to some property owners who construct the turbines.

"The time for talking about this issue is over. We need action. We need hands-on learning," Medford's mayor, Michael J. McGlynn tells The Boston Globe. "But, obviously, the money is significant, too. Any time you're saving $25,000 or $30,000 a year, you're saving somebody's job."

In addition, if a particular turbine’s electrical production exceeds its demand, the owner can sell that power back to a local utility company. As a result, one turbine can provide cleaner energy to surrounding community. By harnessing the green electricity generated by the turbine, a utility company such as NSTAR could sell more kilowatts of wind power to its customers.

Since wind power could be the direction the electricity industry is moving, developers and entrepreneurs are sprouting up around Massachusetts. Kevin Schulte, for example, founded Sustainable Energy Developments Inc in New York to expand wind power throughout the region.

"It seems to be peppered all over society right now: green, green, green. Well, this is green. This is clean energy,” he said to The Globe. “This is 20 years of energy with no emissions. Twenty years of energy with no pollution you have to bury in the ground. I think that's all right."

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--Bridget O'Sullivan

Holiday travel plans stall amid financial slump

With the average price of airfare higher than it has been in years, many people who would otherwise go home for the holidays are opting to skip the plane ticket or avoid traveling altogether.

This means that some families will be missing relatives, and others, especially in college towns like Boston, will host new guests at Thanksgiving dinner. New England-area parents are not the only ones who may have to do a little extra cooking this year.

Restaurants may be getting more diners who otherwise would have traveled over Thanksgiving. The Boston Globe reports that at Temple Bar in Cambridge, for example, Chef Tom Berry plans to order up to 20 turkeys in anticipation of the additional business.

Airline traffic into Boston is expected to be down as much as 10 percent over last year. "With absolute certainty, there will be alesser number of flyers," David Castelveter, vice president of communications for the Air Transport Association, tells the Boston Globe.

Gas prices, however, have been steadily declining since the summer,so that could impact holiday travel. Some families that typically fly may decide to drive rather than opt out of making a trip altogether.The downside, of course is that driving requires much more time and the roads are often busy on the day before and day of Thanksgiving.

With all of the stress that can accompany planning a big meal andhosting lots of relatives, avoiding the hassle of flying on thebusiest travel time of the year may be a welcome relief to some.

--Bridget O'Sullivan

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Drivers worry less about fuel costs as prices drop

So far nothing has made Americans want to cut down on their driving more than $4 a gallon gas. Now that gas prices are back to hovering around $2.50, drivers have returned to the road. Crude oil prices have also dropped more than 50 percent from the highs they reached over the summer.

While the effects of gas prices are immediate for drivers filling up their tanks, consumers may deal with the aftermath of higher prices through the winter. In some industries, pricing decisions are made based on estimates of future costs.

The airlines, for example, sell tickets based on how much they expect to pay for fuel, services andother factors. Even though fuel prices are comparatively low now, consumers may still be paying for the impact of the summer's high prices. Home heating oil is another fluctuating expense that may end up costing some consumers if they made the decision to purchase in July, for example, when it cost more than $4.50 per gallon.

Now, however, the price of a gallon is just under $3.

The Boston Globe suggests that these newly-lower prices may do more harm than merely erase the gains that were made when consumers tried to conserve energy to save money in the warmer months.

Tom Drennen, a professor of economics at Hobart and William Smith Colleges, explains the situation to the Globe. "We're being hit with a double whammy. Credit is so bad and the lots are overflowing with SUVs that people sold when prices went up, so now is a really good time to get a deal on an SUV."

As a result, not only may more drivers be back on the road, more people may be driving gas-guzzlers. In addition, if consumers are not demanding cheaper fuel alternatives, companies have less incentive to develop them. In the end, that may cost much more than $5 gas.

--Bridget O'Sullivan

Local banker Arthur Connelly transitions to DC

Over the course of the next few months, the banking industry is likely to undergo more changes than it has seen in decades. The next chair of the American Bankers Association, a leading Washington trade group, will likely be part of many important financial policy considerations in the coming year.

Though his term officially commences in November, Arthur Connelly, chairman of South Shore Savings Bank, has already begun the transformation from small-town banker to national financial figure.

The change comes at a difficult time because some of Connelly’s responsibilities include working with groups critical of some banking industry practices. As the general public worries about the overall economic health of the nation, some of the banking industry’s past actions are facing increased scrutiny.

Connelly told the Boston Globe, however, that the median average of the holdings of an ABA member bank are just $125 million, characteristic of a community bank. For small-town banks, economic health and growth in their communities are vital, and so are positive relationships with their customers.

Representative Stephen Lynch, Democrat from South Boston, speaks highly of Connelly’s qualifications to the Globe. "He's a guy who has a good moral compass in terms of taking the industry where it needs to go and getting back to basics.” Already a familiar figure around Weymouth, Quincy, Braintree, and other towns with South Shore Savings Bank customers, Connelly is making a name for himself in Washington, as well.

Click here to read more.

--Bridget O'Sullivan

Gas prices drop faster than drivers can fill 'er up

Gas prices are falling rapidly. Can Massachusetts drivers keep up?

Mass. gas prices are falling so fast, drivers may be confused about what a "good deal" is these days. In Jamaica Plain, Hatoff's station is currently selling gas for $2.69. Whoa! That's nothing compared to July's $4.09.

Eric Esteves, a gasoline bargain hunter, tells the Boston Globe: "The last time I got gas, it was like $3.39 and that came down from $3.47." Even a bargain hunter like Esteves is unaware of the current price.

The Boston Globe reports the waning demand tied to recession fears has caused the value of crude oil to significantly decrease. Today, crude oil has dropped to a 14-month low of $69.85 a barrel on the New York Mercantile Exchange. This is due to worries about decreased demand and increased U.S. Inventory.

Click here for the complete article.

Cost cutting at the Brookline Police Department

As wallets are snapping shut in the face of more bad news about the economy, even the Brookline Police Department is not immune to analysis of its expenditures.

An article by Andreae Downs in the Boston Globe explains that Brookline's Chief of Police Daniel O'Leary met with the Efficiency Initiative Committee to give details on some of the department’s programs and cost-saving measures.

The report focuses on an important turning point back in 2002 when the Brookline Police Department moved into a space with a dispatch center shared by police, fire and emergency medical personnel. As a result, civilians assumed the task of dispatching and more officers could cover the field.

The additional officers – six in total—were divided between providing more traffic coverage and developing new safety programs. Brookline added more protection and services for its residents without hiring more officers.

Turning to the issue of efficient spending, the Globe reports that at the meeting, Chief O’Leary addressed the department’s policy of sending a police car to the scene of medical emergencies. He acknowledged that many officers do not have a background in emergency medical response, but that a police presence on the scene is useful.

"When the Fire Department or the EMTs arrive, we relinquish the situation," he tells the Globe. The role of the police is to secure and stabilize the scene, and officers have the ability to redirect traffic, if necessary. In addition, Chief O’Leary indicated that there are some positions he would like to see staffed by civilians, but there are no plans to do so.

Click here for the complete article.

--Bridget O'Sullivan

Poll reveals pessimistic outlook in Mass.

The Boston Globe reports that residents of Massachusetts don't have a positive outlook on the economy. Recent fluctuations in the stock market, rising inflation and unemployment, and the collapse of several major financial institutions are the likely factors contributing to the pessimism.

Suffolk University and The Boston Globe collaborated to conduct a poll on the attitudes of Massachusetts residents responding to the current economic conditions. The results were tallied before the House or the Senate voted on the bailout plan and before the subsequent days of extreme volatility in the stock market.

Even before any decisions on the rescue plan presented by Henry Paulson had been made by congress, a full 41 percent of those polled said they believed the economy would get worse in the coming year. Only 21 percent were optimistic that the economy would improve.

One particular response recorded by the poll seems to illustrate the challenging economic conditions facing Massachusetts residents. A large number of people responding indicated that although they are trying to cut back on their purchases, they have spent more this year than last year.

Such information suggests that although Massachusetts residents are making fewer discretionary purchases, the cost of necessary items such as food, clothing, and gas has risen considerably since last year. As a result, it becomes harder for households to get ahead because cutting back on unnecessary items will not always translate into savings, and savings are important for a feeling of overall economic health.

To read the Globe article, click here.

--Bridget O'Sullivan

Life after the US economic meltdown

As several of Wall Street's most storied firms have been forced to close up shop over the course of the past few weeks, many investors are now left wondering what to do next.

However, a truly savvy individual could find some bright spots amid all of the turmoil.

Boston.com spoke with several successful investors and got their perspectives on how to weather the storm.

Mohamed El-Erian, co-chief executive of Pacific Investment Management Company, cited funds that own government-guaranteed mortgages but offer a higher return than the government does.

Peter Lynch, the former manager of Fidelity's flagship Magellan mutual fund, tells the Globe that the average investor should not focus on trying to choose individual stocks without extensive market knowledge and research.

"The term 'play the market' has done so much damage," he says.

The better strategy, he suggests, is to get to know a few companies very well. That more specialized knowledge would allow the investor to understand the movement of the prices of those stocks.

Even though some stocks may seem as though they are on sale right now, it can be very difficult for a person who has not done a lot of research to determine which ones will bounce back and which ones are headed for more long-term decline.

Click here to read more.

--Bridget O'Sullivan

It's a hard-knock life for schools nationwide

Hard times are following kids back to school this year.

High gas prices and economic anxiety is impacting school districts nationwide. Students will be walking farther to catch the school bus, paying more for lunch and using old textbooks.

Last year's clothes will be worn on the first day of school. And field trips? Probably not.

This year, schools have to cut down on all fronts due to rising costs. The high gas prices are affecting transportation. School Buses are making less stops, and car-pooling will increase. Cafeteria food, heating and air conditioning costs are on the rise causing school districts frustration and extreme budgeting.

In rural Minnesota, one school district has decided to cease classes on Mondays. Classes Tuesday through Friday will be 10 minutes longer, saving a lot of fuel.

Candice Jaenisch, whose two sons and daughter will be making the switch, says: "You're cutting expenses that really don't affect school." Some may say having Mondays off will increase other costs such as daycare. Luckily, in this small town, most parents are farmers or work out of their homes. "I really don't know that there are that many people with set hours Monday through Friday," Jaenisch adds.

Parents are cutting back on spending for back to school items. For back-to-school clothes, Heidi McLean shopped at outlets and the Marshalls discount chain for her son and daughter, high school students in Eureka, Calif. Others are hitting secondhand stores, and some are foregoing shopping all together.

Click here to read the Boston Globe article.