McNay on Money

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Money, Medicine and the Magic Pill

Posted: 08/13/2010 - I was talking to a person in the medical profession who said, "It seems like some patients are looking for a magic pill that will solve all their problems." I said "welcome to my business." The same analogy holds true in finance.

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Bank of America and the Whopper

Posted: 08/13/2010 - A Bank of America call center "tantalized" its employees. Management offered Burger King Whoppers to call center workers as a reward for hitting a quota set for peddling Bank of America products.

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The Debt Relief Rip-off

Posted: 06/30/2010 - Desperate people want to believe it's true. They want to believe that there are companies that can easily get rid of their credit card debt.

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A New York Times View of Kentucky

Posted: 06/23/2010 - The headline on the Rural Blog, for the Institute for Rural Journalism and Community Issues,based at the University of Kentucky, said "NY Times misses point in story on Main Street versus Wall Street in regulatory battle."

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Is Kentucky Sentencing Kids to "Life or Meth?"

Posted: 06/16/2010 - I walked by a car in a parking lot that had a sticker on it that read, "Drug Courts Work." They don't work in Kentucky, anymore. At least, not for juveniles. The state has shut down the juvenile drug court program.

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Harry Moberly: Lawmaker Making a Difference

Posted: 06/10/2010 - I met Harry Moberly in 1979, the day before my 20th birthday. It was the first meeting I had in my new capacity as president of the Eastern Kentucky University Young Democrats. Harry was a 29 year-old lawyer, running against an establishment incumbent for a seat as state representative.

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When to take a Severance Package

Posted: 06/07/2010 - In 1991, the IBM plant in Lexington, Ky. became Lexmark. IBM offered employee severance packages. People could take the package or take a chance that Lexmark would keep them on.

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Wall Street and Legalized Loan Sharks

Posted: 06/07/2010 - In my childhood, Northern Kentucky was a hot spot for organized crime. In a town full of hustlers, prostitutes and gamblers, the profession they looked down on was loan sharking.

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Congress and the Ghost of Sam Ervin

Posted: 05/13/2010 - After a recent Congressional hearing concerning Goldman Sachs, Congress did something I thought was impossible. They almost made me feel sorry for the gang at Goldman Sachs.

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Money, Sex and Hot (Broke) Messes

Posted: 04/30/2010 - Throw open the shade that covers my mind I'm going to touch I've got to believe The bell tolls for me I, I want to testify -Melissa Etheridge Maybe mistakes are what make our fate... without them what would shape our lives? -Carrie Bradshaw (Sarah Jessica Parker) in Sex and the City

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Goldman Sachs: Too Big For Jail?

Updated: 04/21/2010 - The Securities and Exchange Commission is receiving media kudos after filing a lawsuit that accuses Goldman Sachs of fraud. A Los Angeles Times headline trumpeted, "Goldman Sachs case could help Obama shift voter anger." A McClatchy news service headline blares, "Message to Wall Street: SEC is back on the job."

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Children Getting Too Much Money, Too Soon

Updated: 04/15/2010 - I see people make the same mistakes over and over, particularly when handling money for children. A number of children inherit money or receive money from an injury or other legal settlement.

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The "Double Down" Business Strategy

Updated: 04/15/2010 - Seth Godin, who has helped thousands of entrepreneurs be productive, says that business people never realize that with a little bit of push, they can move past a seeming dead end and reach business success.

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What are we going to do about gambling addicts?

Updated: 04/15/2010 - I grew up at a time when you couldn't buy alcohol on Sunday and it wasn't advertised on television at all. Other than horse racing, gambling was illegal.

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"Can't Lose" Business Investments

Posted: 04/09/2010 - I've been making the final edits on my upcoming book, Big Money and Why People Blow It, and came across a fascinating statistic.

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Leaving a Good Tip

Posted: 02/25/2010 - Take a good look around And if you're looking down Put a little love in your heart -Jackie DeShannon

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Tearing Up the Lotto Ticket

Posted: 02/11/2010 - Seems like a lot of lottery winners want to tear up the ticket. Some don't verbalize the thought. They just run through the money as fast as they can.

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Happiness Without Spending Sprees

Posted: 01/06/2010 - A New York Times/CBS News poll said that over the past year, half of Americans were spending less money and spent less time shopping than they did in the previous year.

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Christmas and Gamblers

Posted: 12/23/2009 - And the Christmas carols sounds like blues, But the choir is not to blame. - Jim Croce

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