Article Abstract:
In the United States there are 2.3 million farms: 1.5 million with sales under $50,000, 679,000 with sales between $50,000-$500,000, and 26,000 with sales in excess of $500,000. Although there has been a two percent annual decrease in the number of farms for several decades, the decrease today is significant due to the acceleration in the number of farms leaving production, the age of the farmers who are in financial trouble, and the number of good farmers leaving the business. In general, the reasons behind the current export crisis began in the 1970s when there were low interest rates, high inflation, a good export market, and farmers who were purchasing land, not for income, but for appreciation potential. In the 1980s, the situation changed and interest rates went up, inflation down, competition increased, and land values plummeted. The financialcrisis affects everyone in rural America and, as a society, we need to determine the importance of a steady, cheap supply of food and preserving the family farm.
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Article Abstract:
Telecredit Inc and Payment Systems for Credit Unions (PSCU) have joined forces to provide credit cards to PSCU members. PSCU consists of more than 700 credit unions, based in Tampa, FL. Telecredit Inc is an electronic payment and authentication service in Los Angeles, CA. This group approach eliminates start-up costs, high monthly usage fees, and the necessity of technical resources. Member credit unions can function as independent card processing institutions instead of agents of a card-issuing bank. The group program generates large revenues based on annual fees, finance charges, interchanges, late charges, and overlimit fees that might otherwise have been paid to a card-issuing institution. The joint effort claims 1.6 million accounts and two million credit cards. An efficiently operated credit union can make a profit at an interest rate of 15% or higher.
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Article Abstract:
A nationwide survey by Elrick and Lavidge Inc of 2080 retail customers reveals that private credit card holders claim to spend more per purchase and more per year than customers without store cards. Store card holders also shop more frequently and perceive the store more favorably than customers without cards. Some 28% of those responding to the survey carry department store cards, while 72% do not.
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