How Youths or Immigrants Can Build A Credit History

Back in our grandparent's day business was conducted in cash and a handshake was all the credit you needed but today you have got to have a good credit history if you want to obtain the best interest rates or credit in the amounts you might need for an emergency. If you have no reported credit history lenders are likely to consider you "high risk". This is because there is no past record for them to look back on. It's kind of like applying for a job. If you apply for a position higher up in the company but have no previous on-the-job experience, they aren't likely to hire you but if you apply for an entry-level job and work your way up. You get the point. You need credit history.

Certain types of people have more problems in this area than others. Generally, young people just starting their careers, older people who've always paid cash, and divorced or widowed women and immigrants to the United States tend to have more problems than others. There often is no credit history for them.

The first thing to do is to find out what's in your credit file and credit history. Sometimes errors can be reported in your credit history or there can be some reports that you didn't realize would show up or that you had forgotten were there. Make sure, if you've had a different name or lived in a different location, that those past records were merged with your current record. Also, if you shared accounts with a former spouse, ask the credit bureau to list these accounts under your name as well. Many will perform these services for a small fee.

Remember that creditors are not required to report any account history information to the credit bureaus. However, if you have a joint account and the creditor does report it - it must be reported under both your names under the Equal Credit Opportunity Act. The best way to make sure this is done is to contact your creditor in writing (make sure to include account numbers and keep a copy).

If you do not have a credit history (or have a sparse one), you should start to work on one immediately. First, you must have a steady income and should live in the same area for at least a year. Then you can try applying for credit with a local department store or applying for a small loan amount from your bank. Often a local department store or bank will approve credit applications when larger ones will reject them due to a lack of credit history. Most importantly, before you apply, ask if they report credit history information to credit bureaus. If at all possible, you should strive to obtain credit that will be reported, as this will build your credit history.

If you are rejected ask for the reason why. There are often other reasons for a denial than lack of a credit history. For instance, your income may not meet the minimum or you may not have worked at your current job long enough. You can usually solve these problems with time or by simply applying with another creditor. In almost all cases, it is best to wait at least 6 months before making each new application because credit bureaus record every inquiry about you and inquiries can damage your credit by making it look like you are trying to obtain too much credit too quickly.

If you still are having problems developing credit, you may want to ask a person who has an established credit history to act as your cosigner. A cosigner guarantees that you'll pay and that if you don't - they will. This makes you look like a better risk for creditors. Once you have paid off this debt, try again to get credit on your own.

Specific Ways to Build Credit

It is actually pretty easy to build credit. Try one of the following ideas:

* Ask your bank or credit union about a secured credit card. You can make a deposit to your account and have a credit limit in the amount of your deposit. The bank takes little risk and you build credit slowly.
* Use a co-signer on your first few credit accounts. Lenders will consider the co-signer’s existing credit. The co-signer essentially ‘vouches’ for you while you build credit. Note that this is a big responsibility – you can cause major headaches for the co-signer if you don’t pay as agreed (see our page on How Co-Signing Works for details).
* Use retailer programs for modestly large purchases like furniture. For example, you may buy a television on the “$40/Month Payment Plan”. Gas station cards may work as well. These programs can be easier to qualify for and they certainly help you build credit. Be sure that the retailer will report your loan to the major credit reporting companies.
* Get a credit card with any reputable institution that will give you one. Again, you have to make sure they’ll report your timely payments to the credit reporting companies. Of course, you have to always pay at least the minimum before the due date.

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Saving $1000 In One Year Without Stress

Margarette Burnette

Do you wish you could save an extra $1,000 this year without downgrading your lifestyle?the course of a year, they really add up.

Here are some tips to give yourself a $1,000 raise:

1. Look for discounted dinner entrees
Saving money doesn't mean you can't enjoy meals at your favorite restaurants. Discount deals can be found in the mail, newspaper or online.

"Before you head out to eat, check out your restaurant online," says Fatima Mehdikarimi, founder of the coupon Web site TheShoppingQueen.com. "Or, after you arrive, simply ask the manager if they have any special promotions. Don't forget to ask about promotions that are offered on other days or times."

She notes that one restaurant near her home has a relationship with a local movie theater, so diners can get a discount on an entrée if they present a ticket stub.

"Your restaurant might not advertise these types of specials, so definitely ask about them," she says.

If you receive a "half off your entree" special or similar promotion a couple of times a month, and each discount is worth $5, the savings will top $120 after a year.

2. Return unopened, unused items
Many times, extra money may be even closer at hand than you might think.

"If you're looking for extra money, your closets or drawers are a good place to start," says John Mruz, president of Juggling Duck Organizers in Morristown, N.J.

Nearly everyone has a recently purchased product they will never use: the too-large blouse that still has the tag on it, or an unopened set of salt and pepper shakers that didn't fit the kitchen decor.

Try to return the item to get your money back, or it will likely make its way into an overstuffed closet or drawer, Mruz says.

Even if you can't find your receipt, the retailer may accept the return for a store credit.

"I bought $90 worth of new energy-efficient light bulbs for my kitchen a few months ago -- for the purpose of saving money -- only to find that I had the wrong size," says Mruz.

He meant to return the bulbs and exchange them for the correct size, but didn't get around to it right away. Eventually, he forgot about them.

"I put the bulbs in the basement, and they soon got covered over by random junk," Mruz says.

He recently discovered them when he was clearing out his basement.

"Fortunately, my home center retailer had a generous return policy," he says.

For Mruz, clearing some clutter from his basement meant an increase of $90.

3. Look for extra grocery savings
There are several opportunities to save at the local grocery store, even if you don't like to clip coupons.

"When you enter a store, check to see if there are sales ads located near the front," says Mehdikarimi.

You might find a coupon for a purchase you were planning to make. Just make sure the sales don't entice you to buy items that were not already on your shopping list.

If you don't find any deals at the store's entrance, there's still a chance to save money at the checkout line.

"Ask the cashier if there are any coupons or specials going on that would apply to any of your purchases," says Mehdikarimi.

By getting in the habit of asking about sales each time you pay for your groceries, you could regularly discover discounts for items that you were already planning to purchase. The clerk might have extra coupons on hand, or a manager who's ringing up your groceries might let you know about a special offered on one of your brands.

Even a customer may help you if she hears your question and mentions a "buy one, get one free" deal that you missed.

Another way to save is to sign up for store coupon clubs.

"Grocery stores have many programs that allow you to get discounts for purchases," says Mehdikarimi.

If your grocer has a baby club, for example, signing up for the program could save you hundreds of dollars in diapers, infant food and other baby products over the course of a year.

If you're able to save just $4 off of your bill during each weekly shopping trip, total savings would be more than $200 a year.

4. Check out materials from the library
The next time you plan to buy or rent a favorite movie classic, head over to your local library instead and borrow the video for free. Many libraries stock DVDs -- movie classics and newer titles -- and CDs with generous borrowing periods.

If you need children's videos, visit the juvenile area for new cartoons and educational selections.

Adding up the savings

Type How often? Savings each time Yearly savings Dinner discounts Twice monthly $5.00 $120.00 Returning unused items Varies Varies Varies ($90 in this example) Finding grocery deals Weekly $4.00 $208.00 Check out library materials Monthly $10 $240.00 Bundling utilities Monthly $20.00 $240.00 Negotiating savings on services Monthly $10.00 $120.00 TOTAL: $1,018.00

While you are at the library, see if they have the latest book releases. Many libraries post best-seller lists for your convenience, and they probably have several copies of many titles. Remember to return everything on time, because libraries charge late fees just like rental stores do.

If you want reading material but you don't want to leave your home, call your local library and ask if they offer e-books that can be downloaded to your computer.

If you borrow just two books or movies a month that you would otherwise buy or rent, you could save between $120 and $240 per year.

5. Bundle cable, phone and Internet services
If you can't live without your cable, telephone and Internet access, but the monthly bills are getting uncomfortably high, consider bundling all of your services under one company.

"With the competition for cable and Internet being so high, there's a good chance that you can negotiate a promotional rate," says Mehdikarimi.

Just be aware that unexpected fees could be added to that low quoted rate.

"Because of taxes and other state-imposed fees, the overall savings for a bundle might not be as great as you may have been led to believe," says Mruz.

However, your bill could still be much less than if you paid for the services separately.

Even if you don't opt for a bundled package, ask your providers for a price break.

"If your rates are too high, call some other companies to find their rates. Then call your current provider and ask them to match the price," says Mehdikarimi. "My philosophy is that it never hurts to ask."

If you're able to reduce your total fees by $20 a month, that adds up to $240 for the year.

6. Negotiate with monthly service providers
Once you get off the phone with your cable, Internet and telephone provider, call your alarm company, lawn care person and any of your other monthly service providers to negotiate prices. Depending on where you live, you might even be able to negotiate natural gas rates.

"Obviously, you're not going to get very far with monopoly utilities, but for the companies that have competition, you can definitely negotiate your price," says Mehdikarimi.

She suggests that in each case, find what out what the competitors are charging. Then ask your provider to match the price.

Don't get discouraged if the first person you speak with can't approve a rate decrease.

"You might need to ask for a supervisor," says Mehdikarimi.

One tip is to call during normal business hours to increase the chances of reaching a supervisor who can authorize a rate change.

If the idea of negotiating for a better price sounds intimidating, remember that the conversation can be pleasant, even if you have to ask the customer service representative to put the boss on the phone.

"The call doesn't have to be confrontational," says Mehdikarimi. "Remember that you'll be in a telephone situation where you're not looking at someone face to face. Tell yourself that they're a random person, and after this call, you'll never have to see them again."

If you save a total of just $10 a month negotiating all your monthly services, you'll save an extra $120 a year.

7. Stash money for easier savings next year
By making these barely noticeable changes to your lifestyle, you could save as much as $1,000 over the next year. But how do you increase your savings in future years?

Bill Billimoria, personal finance expert and author of "On Golden Pond … Or Up the Creek?" suggests letting your cash work for you.

"Take the money you saved so far and put it into a high-interest savings account or mutual fund," he says. "Then let compounding interest do the magic."

If you place $1,000 in an account that pays a 7 percent annual return on investment, the original amount will nearly double after 10 years. That means twice the money for no extra work.

Saving money by doing "nothing" can be a very lucrative habit.

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5 Signs That Shows It Is Time To Quit Your Job

Michelle Goodman

We've all been there. Sunday night rolls around and suddenly we're covered with hives. Or we find ourselves frantically searching WebMD for some exotic new disease to call in sick with the next morning.

Such suffering doesn't necessarily mean you should dust off your resume and start looking for greener pastures. Some workplace woes are fixable. The trick is knowing which ones are changeable -- and how to mend them.

The Magic is Gone

So you've been at your job a couple years and now you're bored. Or frustrated. Or disgruntled. Sound familiar? It's possible you've just fallen into the age-old workplace habit of griping for griping's sake, says Cynthia Shapiro, author of "Corporate Confidential: 50 Secrets Your Company Doesn't Want You to Know -- And What to Do About Them."

Instead of complaining, Shapiro advises, try to tap into what you originally appreciated about your gig and company. If you come up empty, take a long, hard look at your job: Has it changed for the worse since you started? Has the company? Have you changed, perhaps outgrowing the work? If the answer's yes to any of these, it's indeed time fly like the wind.

"I Hate My Boss" Syndrome

Sure, a lot of bosses are crummy managers, but many are manageable. "If your boss looks like he's terrible, it's probably just that you're terrible at managing up," says Penelope Trunk, author of "Brazen Careerist: The New Rules for Success."

The solution, says Trunk, is to tell your boss what you need to succeed in your job -- be it more lead time on deadlines or more backup when the workload is piled sky high. But remember, it's not all about you. It's about supporting your boss and doing a bang-up job so that she impresses her superiors. Keep your boss happy, and you hold the keys to the kingdom.

"I Think My Boss Hates Me" Syndrome

But what if you are doing a heckuva job, only to be snubbed when your boss hands out the plum projects, pay raises, and promotions? Maybe you're constantly getting the difficult clients dumped in your lap. Or you just received a poor performance review, seemingly out of the blue.

If no matter how hard you shine, you're ignored or sidelined by management, it's time to wake up and smell the pink slip. "That is not just job ennui," says Shapiro. "That is danger -- you're in the exit lane." And while it may be tempting to sulk, your focus should be on looking for a new employer. Pronto.

The Titanic Is Sinking

When the company's in trouble, your job is, too. If you haven't been paid in three weeks or the CEO is starting to blog about how the company is willing to do anything to boost profitability (translation: layoffs ahead), make like the Lutz family in "The Amityville Horror" and get out now.

Your Health Is Failing

"If you tell someone you're in an abusive relationship with a guy and he's making you physically ill, they're like, 'Get out, get out,'" says Trunk. "But, if you tell them your job's making you sick, they say, 'I know, I hate my job, too.'"

As Trunk implies, we're freakishly loyal to jobs that beat us down. Either that, or we're utterly complacent. But it's a safe bet that there's no rule in your employee handbook saying you have to put up with work-related migraines, insomnia, and ulcers. If Sunday night dread is costing you a small fortune in doctor's visits and prescription drugs, it's high time you got out of Dodge.

Quick Tips for Jumping Ship

1. Look into a department transfer. Sometimes a change of scenery or job duties within a company is all you need to feel the love again.

2. Before you quit, line up a new gig. When it comes to negotiating salary, employed people have more bargaining power, says Shapiro. A candidate in search of his next paycheck is likelier to accept a lower wage, and hiring managers know this.

3. If you think your job is on the line, start interviewing ASAP. You can't lose here. Either you get a new gig, your boss wishes you well, and you part ways (proof your job was in jeopardy, says Shapiro). Or you resign, and your boss offers you a raise and promotion so that you'll stick around.

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Five Career Huddles To Jump Over In 2008

Caroline Levchuck

Despite the fact that no one can truly foretell the future, there are some events visible on the horizon of 2008 that will impact your professional life.

John Challenger, CEO of Challenger, Gray & Christmas, a global outplacement consulting organization, shared his thoughts on the five factors that will positively or negatively affect your job and/or job search during the next year.

1. The Housing Crisis

You can't pick up a newspaper these days without seeing a headline about the sub-prime mortgage crisis and the downturn in real estate -- and that's with good reason.

"The ongoing housing crisis affects not just subprime lenders, but banks, realtors, home retailers, construction and renovation contractors, building materials companies, and others," Challenger says. And, unlike problems in the automotive industry, for example, "This crisis is so geographically dispersed, so very far-reaching. Every region of the country is going to face difficulties."

Even if you don't work in one of the aforementioned fields, the housing crisis will still impact consumer spending. Challenger says, "Because of the fact that consumers can no longer use their homes as piggy banks, they're losing the ability to spend. And consumer spending constitutes two-thirds of our economic growth."

2. The High Price of Fuel

The cost of getting to and from work keeps getting higher as fuel costs skyrocket. Single car commuters aren't the only ones affected, as major metropolitan areas will see public transportation costs increase.

Challenger says, "The cost of getting to a job that's far from home has jumped considerably. People might be spending double what they did just three or four years ago."

The trend is alarming. "A lack of mobility on such a vital part of the workforce is a real drag on the economy, but no one seems to be able to resolve the issue."

3. The U.S. Presidential Election

Much will change with the outcome of the 2008 presidential election -- but not all of it depends on the winner's party affiliation.

"Stem cell research has been on hold for the last several years, but it looks like both parties have an interest in that. Biotech and genome work will also be hot areas, post-election," predicts Challenger.

"If the Democrats win and they do move the country out of Iraq more quickly, defense spending will be affected. That's been a growth area in the economy." But, he counters, "A national health-care plan might be a job creator. If you expand coverage to more people, you'll need more providers. Health care is one of the strongest areas for job creation in the economy."

He also foresees more growth in "green" jobs if a Democrat wins the election.

4. Generation Y

Born between 1977 and 1995, Generation Y is 79.8 million strong. In 2008, millions of these echo boomers, as they're also called, will be looking for work. Challenger predicts that competition for jobs for new graduates will be stiffer than in recent years.

He notes, "Generation Y workers are flooding into the job market, but they might not be flooded with job offers."

He says the class of 2008 shouldn't expect the same robust job market their counterparts enjoyed in previous years. "Since the summer of 2003, the market was very strong for graduates, but job creation has slowed in the second half of 2007. The economy is slowing down, and business owners may be more cautious about adding new staff."

5. The Global Economy

Challenger doesn't believe the nation is headed for a recession. "The housing market is slowing down the U.S. economy, but the positive affects of the global growth engine will offset what is happening domestically."

He also believes that the weak U.S. dollar isn't necessarily bad for business. In fact, the opposite may be true. "It means that U.S. businesses can compete around the world, especially vis-a-vis Europe, because our goods will be cheaper due to the weaker dollar. When businesses in other countries repatriate the dollar across the seas, they'll get even more for their money."

He admits, "The falling dollar is a mixed bag for the economy, but it's good for global business hiring and job growth."

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Where Is Nigerian Stock Market Heading?

Chinedu Dike
Activities in the stock market are still up beat and the indicators are consistently tending upwards. This has been a good development as profit taking investors harness huge returns through capital gains. But there seem to be serious concerns among some investors on the sustainability of the bubbling market.

The questions agitating their minds border on the sustainability of the soaring tempo, and for how long this can be sustained?

A review of movement of market indices shows that aggregate turnover at the Nigerian Stock Exchange (NSE) closed at N1.0 trillion on Monday July 23, 2007. This is historic, more so given the fact that this volume of trading was recorded in just seven months beginning from January 2007. This shows a leap of 99.7 percent compared to a turnover of N470 billion recorded in the full trading year of 2006.

The growth in turnover value has also rubbed off on the market capitalisation and the NSE all-shares index, which have exceeded N8.0 trillion and 51,000 mark respectively. This is as against a market capitalization of N5.12 trillion and index of 33, 189.30 basis points recorded at the beginning of the year.

Similarly, market liquidity or tradability of stocks as measured by turnover ratio, has shown appreciable growth in the seven months period standing at 15.6 percent as against 6.72 percent in 2006 and 6.59 percent in 2005.

By August 30, 2007, the market capitalisation plunged to N7.7 trillion just as the index depreciated to 49, 761.65 basis points. It however resumed an upward movement the following day and closed at N8.155 trillion for market capitalisation and 52, 452.85 points for the index on as at September 5. The market grew to a high of N8.336 trillion while the index closed at 52, 452. 49.

But some market observers believe that the growth is fictitious and simply has the character of a bubble that is waiting to bust any moment.

Their contention is that there are no tangible fundamentals that should drive the kind of growth we see in the market.

Brown Edobor, a stock broker Equity Capital Research Limited, said "Expectation, performance, and market awareness are some of the factors that have fuelled the growth in the market. These according to him are issues of market sentiments that may give a direction when related to issues of fundamental analysis."

To this he noted that the market for now is no more than "a river fed by heavy flood and will eventually find its actual level when the flood subsides."

Sunny Nwosu, of Independent Shareholders Solidarity Association of Nigeria (ISSAN) said the price movement in the Nigerian stock market is somewhat a mystery. "The price of the stocks move in a manner you cannot understand. They go up when you probably expect a downward movement and vice versa. And this increases the uncertainty you have as an investor about what happens to the market. So the best you do under the circumstance is to trade cautiously."

The consensus held by some others is that the stock market seems to have ignored major fundamentals after hitting several highs since the beginning of the year. The only moderation was witnessed about two weeks ago even as the market has continued to exhibit a measure of resilience in the past two weeks.

However, analysts are still saying that the market has not really moved in line with the fundamentals of some of the quoted companies.

They observed that fundamentally strong companies in fundamentally strong sectors should continue to do well compared to the rest of the market. These stocks would not be entirely immune to volatility. But they will hurt less in market downturns and be the first ones to bounce back.

Nelson Ine, stockbroker with Nigerian Stockbrokers Limited says the market has followed a particular trend and not ‘fundamentals’ because some of the stocks whose prices have been going up may not be able to sustain such prices in terms of performance. He noted that a lot of investors may have had their fingers burnt in the market because they used the fundamentals of the companies to make investment decisions.

Some analysts have been shocked at the rate the share price of Dangote Sugar refinery plc has been going down after an impressive performance in the half year and the company’s commitment to paying interim dividends (40kobo per share) twice this year. The stock which reached a high of N56.00 this year closed at N39.99 on Monday. First bank is also seen in this equation especially with its track record in terms of dividends and bonus issues.

According to Ine, some investors have taken to buying shares mainly on market hear-say and in the process create liquidity for such shares since other investors were bound to move in as soon as they notice the volume of transactions in that sector.

Indeed, the growth in demand for insurance stocks is said to have been prompted by expectations that the insurers would replicate what some of the banks have been able to do post-consolidation. On Tuesday, a total of 205 million shares worth N614 million were traded at the NSE.

Now let’s look at the analyst ratings and how they work. If there are 20 analysts following a stock and all 20 rate the stock as a "buy," what can they do from here? Can they upgrade it? Not really. If all 20 rate it a "buy," the odds of an upgrade are very small. On the other hand, the odds of a downgrade are much greater since the whole group ranks the stock as a "buy."

When you combine the sentiment with technical analysis, what you are looking for is an uptrending stock that has a lot of pessimism or a declining stock that has a lot of optimism. If the stock is moving higher, but the pessimists continue to doubt the stock, the trend is likely to continue as the bears shift to the bullish camp. The same goes for the downward trending stock that everyone loves. The trend is likely to continue as long as the bulls switch to the bearish camp. They will drive the price lower until there isn’t any optimism left.

Once everyone has joined the bullish camp, it is hard for the upward trend to continue. Likewise, if everyone is in the bearish camp, it is tough for the stock to keep going down.

This is how some people use sentiment to determine whether or not to enter a trade.

The other is the stock market, which until recently was being plumped up with easy credit and a wave of IPOs.

At least there’s a bit of realism to the expectation that these companies (and assets) can pull in the earnings to justify their inflated prices.

The believe among other observers is that even when the market seem to be over bloated, we are not going to experience a drastic crash situation as witnessed in the classical case of Enron or any other of such.

Okwor Emordi, a Stock broker said, "with the way the market is going, it is not unlikely that there may be a down turn, but certainly do not expect the kind of dip that happens in the more advanced markets."

He note that "what we may have is an isolated case of one or two stocks, blue chips possibly, but not a whole market. It may be in the manner of what we saw in the case of Cadbury." But even at that, the stocks in the market have shownS strong tendency for a rebound in the shortest time, he added.

But Aliyu Momoh, a senior official at the Strategy and Derivatives unit of the Nigerian Stock Exchange (NSE) said most of the companies have shown good performance that will sustain their performance in the stock market. This he added to a large extent rules out any fear of a down turn based on the results they the companies turn in.

Safiu Abubakar, an Abuja based investment analyst said "the bullish trend in the market is a function of strong buy orders generated by increased awareness towards the stock market.

"People are putting their funds in the market, and most of them do so not because of the immediate returns but because they have found that to be a better investment option than just having your money in the bank. So this increased awareness has become a peer-pressure kind of development. A situation like that comes without consideration to fundamental issues in the market."

He therefore believe that there may not be a crash as the stock market is still largely under invested and as more people push to go in, an upward trend will be triggered, based on the principle of demand and supply and not necessarily on considerations of market fundamentals.

Whatever situation that plays out at the end of the day, there is a need for the regulatory authorities to closely monitor the market to guard against any situation that will jeopardise the interest of investors and the market in general.

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10 Steps To Landing A Job On The Internet

Caroline Levchuck

While newspapers and networking still play an important role in looking for work, the Internet is now a vital component in any job search.

According to a Gad Levanon, economist at the Conference Board, "The Internet has become the most popular method of job searching." A recent survey by the Conference Board, the world's leading business membership and research organization, revealed that the Internet isn't only being used by more job seekers -- it's being used for a variety of job search functions.

Read on for some ideas as to how you can make the most of the Web's potential in your next job search.

1. Post your resume online at Yahoo! HotJobs so recruiters can find you -- even when you're not actively searching for work.

2. Join an online networking community, such as the new Yahoo! Kickstart or LinkedIn, and connect with fellow alumni, colleagues, and recruiters.

3. Search the names of old friends and coworkers to reach out and expand your network.

4. Research major employers, using news outlets or sites like Yahoo! Finance.

5. Tap the power of industry blogs to find folks who are doing what you'd like to do for a living and ask for advice. You'd be surprised at how many people are willing to share their wisdom with an up and comer.

6. Streamline your efforts by saving job searches and signing up for email job alerts so you'll know about new postings on Yahoo! HotJobs immediately.

7. Start an online job-search support group, perhaps using Yahoo! Groups or a social networking site. Open it up to members of your network who are looking for work and share encouragement and insights as you seek out new opportunities.

8. Visit company websites for additional job postings and to learn about each organization's corporate culture. This will help you determine if you'd be a good fit and provide you with insights for any interviews.

9. Browse trade associations and professional groups online for insights and new connections.

10. Patrol message boards and discussion groups to connect with like-minded and in-the-know professionals. Many times job openings are not posted immediately and these people may have hot inside leads on new opportunities.

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Five Keys To A Productive Unemployment

Katherine Tom
Hate your job? Unemployment might not seem like an attractive alternative, but it comes with one major upside: more time. With the right game plan, you can take advantage of a temporary pause between jobs to reevaluate and rejuvenate your entire career.

Dean LaTourette, co-author of "Time Off! The Upside to Downtime," observes, "While it can be a scary time, most people who allow themselves a break find that getting laid off or quitting their job ends up being one of the best career moves they ever made."

1. Work Your Network

Sure, you're browsing the job listings every day and applying to positions as they come up. But imagine if you could multiply your efforts a hundredfold. Today's online networking sites not only make it a breeze to let your friends know you're looking for work, they also give you access to your friends' networks. That's an exponential increase in potential employment connections.

Make sure all of your online info is up-to-date and typo-free, re-activate resumes that you may have hidden when you found your last job, and let your friends and colleagues know that you're actively seeking employment.

2. Get an Internship or Volunteer

If you're considering a complete career change, working for free may be your best bet for gaining experience in your desired field. Well-established volunteer and internship programs often include formal training, which is basically like a free education in your new vocation. If you have technical skills or a consulting background, doing pro bono work can be a great way to build your portfolio while contributing to a good cause.

3. Go Back to School

In addition to traditional graduate schools, there are dozens of options for getting job-relevant training year-round. Most major universities offer extension courses for a variety of professional fields including marketing, graphic design, and computer programming. Media Bistro, another valuable resource, offers writing and media courses both online and in six cities across the U.S.

4. Explore Your Hobbies

Ever spent a spare moment at work wishing you could spend more time fishing, painting, cooking, or whatever your passion is? Well consider your wish granted. Unemployment can be a perfect time to explore your personal passions. At worst, you'll get to enjoy yourself, and at best you may find a way to make money doing what you love.

Michelle Goodman, author of the "Anti 9 to 5 Guide," points out that "even if you're not going for investment money, it's helpful to write down the basics of your business plan: how much it will take to break even, the cost of supplies, analysis of your competitors. Putting it on paper makes it hard to be in denial about finances."

5. Travel

Recently the Center for Economic and Policy Research released a report entitled "No Vacation Nation" which revealed that 1 in 4 American workers receive no paid vacation or holidays. Even those lucky employees who get paid time off receive up to 30 days fewer than their European counterparts. So take advantage of your time off and take a well-deserved vacation. If you sublet your apartment or home and choose a cheap destination, you could even end up saving money while you're away.

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How to Successfully Move From One Career To Another

Not all career changers move fluidly from job to job. Many seasoned professionals take a respite, perhaps to travel, write a book, or just contemplate what they really want to do next.

But even though you're between jobs and treading into unfamiliar territory, you still want to make sure you're never really out of the market. Whatever you do to occupy yourself can become a selling point on your next resume if you manage your time wisely.

Vance W. LaVelle, now 49, took a number of unexpected turns on her path toward switching from a career in banking to satellite radio. She chose to leave her job as chief marketing officer at PNC Bank in Pittsburgh after five years of commuting from her New York home. "I was feeling a pull, ready to do something new and different," she says.

LaVelle tried a number of different things in her 10 months of searching for a new gig. In the end, her pursuits during the transition "made her more attractive to employers than if she had just passed her resume around," says Hope Dlugozima, author of "Six Months Off: How to Plan, Negotiate, and Take the Break You Need Without Burning Bridges or Going Broke."

Using LaVelle's experience as a model, here's a playbook for how you might structure your own professional interregnum:

1. Imagine what you'd like to do if you had no constraints.

LaVelle started her transition period with a long to-do list of what she wanted to accomplish. But first, there were practical concerns. LaVelle launched her own marketing consulting firm to provide income and help her stay connected in her field while giving her the flexibility to branch out. Then she turned her attention to new opportunities she wanted to explore: As a dog lover, she thought it would be fun to try dog training. She was also interested in pursuing some board directorships and taking some classes. "It's O.K. to have that sophomore-in-college mindset," says Dlugozima, now vice-president of community and membership at WebMD.

2. Create an elevator pitch

What is this? It's a 30-second answer to the inevitable question, "What do you do?" It's how you describe your transition time to the world, and it gives potential business associates an easy way to remember you.

LaVelle didn't know whether she wanted to build a big consulting business, become a consultant with a larger firm, or go back into a corporate position. By telling people she was a marketing consultant, she had the elevator pitch she needed to network into new business situations. It's important to be honest. "If you intend to take some time off to do some exploration, don't be shy about telling people that," Dlugozima says.

3. Hit the phone and the email list.

An old boss of LaVelle's said to her: "Build relationships before you need them, and keep them strong because they are more important to you than what you know how to do." Such relationships launched LaVelle's consulting business. "With three phone calls to my professional network, I had more consulting work than I wanted," she recalls.

LaVelle also plugged into the conference circuit. After learning of a chief marketing officer summit taking place at Harvard University, she made a cold call to the sponsor and talked her way into a key speaking slot on the program. "Such visibility is invaluable," says Janice Reals Ellig, co-CEO of Chadick Ellig, a New York executive-search firm, and co-author of "Driving the Career Highway."

4. Just do it.

In between consulting assignments, LaVelle started checking things off her list. She attended OnBoard Bootcamp in New York, a program to help director candidates master the board selection process, took cooking and home-repair classes, and hosted a business-development event with the government of New Zealand for the America's Cup trials in Spain. "I tried to do all the things I couldn't do because I worked full-time," she says. One of her biggest fears was that she would lag behind on the technical side of her business. So she enrolled in a course to become proficient in new media trends, such as RSS feeds and blogging.

What intrigued her most was the chance to become a dog breeder and trainer. "Dogs are my passion," says LaVelle, who has room for one goldendoodle in her apartment. Through a contact she landed an informal apprenticeship with the chief of the canine unit of the Port Authority of New York/New Jersey, who allowed her to shadow him for the day. "He told me I'd fall in love with the dogs, and I'd never be able to let them go," says LaVelle. Realizing she would have serious separation issues convinced her she wasn't cut out for dog training.

LaVelle also pursued opportunities she didn't anticipate. In the fall of 2005 a fund-raising event she organized for her University of Alabama sorority along the Gulf Coast of Florida had to be evacuated when Hurricane Katrina hit. While the disaster unfolded, she had an idea. She knew the inner workings of filing insurance claims from her experience on an insurance company advisory board. Why not help homeowners navigate the insurance claim process, coordinate contractors, and negotiate with the local governments to get services? Within days, she had several homeowners willing to hire her. The only problem was that she was supposed to be living in New York with her husband, so she decided not to take the business. "It's O.K. to try new things, and then move in a different direction if things don't work out," advises Dlugozima.

5. Make a decision.

At some point, professionals in transition are apt to have all the information they need to move forward. Although she enjoyed consulting, LaVelle realized in the summer of 2006 that she wanted to go back to a corporate job. "I'm an operator," she says. "I like to get my hands dirty and do the work, vs. telling others how to do it," says LaVelle, who still might return to consulting some day.

Her robust network led her to two promising marketing positions based in New York. One, with General Electric, would have required a lot of travel. The other is the one she took, as senior vice-president for customer sales, service, and marketing at Sirius Satellite Radio. "I never thought I'd end up in the entertainment industry after nearly 20 years in financial services," says LaVelle. Coincidentally, Sirius is another name for the Dog Star. So on a psychic level, she says, her new job married her divergent interests.

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The Secret To Successful Non-Traditional Job Interviews

Doug White

The employment interview isn't what it used to be. While the vast majority of interviews are the standard face-to-face variety, technological advancements have made it possible for employers and applicants to connect quickly in other ways.

Some hiring managers conduct phone interviews during the early phases of candidate searches; others may request you meet via videoconference if you live far away. And, yes, certain companies even hold virtual job fairs.

Following are tips for success when participating in non-traditional job interviews.

The Phone Interview

Minimize distractions. Conduct the call from a quiet, private setting. You won't impress hiring managers if they hear loud pets, honking horns, or your clicking keyboard in the background. If possible, use a landline (which is often more reliable than cellular phones), and disable the call-waiting function.

Speak up. Because the interviewer can't read your facial reactions or body language, verbalize your thoughts. After the hiring manager completes a thought, say something like, "Yes, that aspect of the job sounds appealing" to keep the discussion moving. Speak with confidence and enthusiasm.

Have supplies handy. Keep your resume and cover letter at arm's length, as well as any company research you've collected. You also might prepare a bulleted list of speaking points or questions. Make sure a pen and pad are nearby for taking notes.

The Videoconference Interview

Mock it up. It's intimidating to be interviewed on camera. Calm jittery nerves by doing a trial run with a friend or family member. Record the mock interview and study areas where you can improve. Did you look at the camera, or did your eyes dart nervously around the room? Did you exhibit good posture or slouch? Rehearsing will help ensure you're polished at showtime.

Beware of busy backgrounds. Most video interviews are conducted at a videoconference site, your recruiter's workplace or an employer's satellite office. Wherever you are, remain the focal point by clearing the table of clutter. If you do the interview from home, choose a professional-looking, well-lit setting. In addition, make sure your computer's webcam and microphone are working properly a day in advance.

Dress to impress. Dress as nicely as you would for an on-site visit. And don't assume you'll only be visible from the shoulders up. More than a few jacket-clad candidates have unexpectedly been seated at see-through glass tables or stood up to reveal fashion faux pas such as jeans or shorts.

The Virtual Interview

Wear appropriate avatar apparel. An avatar is a computer-generated icon you create to represent yourself online. If you attend a virtual job fair on Second Life, a popular online community, for instance, your avatar should look professional. You don't necessarily need to don a virtual suit for an "in-world" corporate recruiting event, but don't show up as a flashy nightclub-goer, space alien, or vampire.

Message with care. When communicating via instant message on Second Life, focus on accuracy, not speed. Hiring managers will likely forgive a typo or two, but making a series of grammatical goofs will cause them to question your writing skills and attention to detail. Take a moment to proofread your message and steer clear of emoticons and cyber slang.

No matter what the meeting format, always send a thank-you note to those with whom you interview. Even when communicating with a hiring manager using high-tech tools, a traditional handwritten letter of appreciation will be well received.

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The Central Bank of Nigeria Issues New Global Depository Receipts' Guidelines

Moses Obajemu

The Central Bank of Nigeria (CBN) has issued new guidelines to regulate the issuance of Global Depository Receipts (GDRs) by banks selling their shares to international investors.

The new regulatory framework mandates banks selling GDRs to furnish the apex bank with the details of the beneficial investors on a copy of the Certificate of Capital Importation issued in favour of such banks. This is contained in a December 3, 2007 CBN circular sent to banks entitled: "Global Depository Receipts (GDRs) and Certificate of Capital Importation (CCI) Issuance", signed by the Director of Trade and Exchange, Mrs Omolara Akanji.

A Global Depository Receipt is typically a dollar-denominated instrument issued in international financial markets through a registered depository bank. They are negotiable bank certificates, issued by the depository bank which represent ownership of certain equity securities (the underlying shares) that are issued and tradeable in the local market. The GDRs are exchanged with the underlying shares at a pre-determined ratio (for example, 50 shares to 1 GDR), and are mostly used for capital raising by companies from emerging markets to access investors in international markets.

The banking watchdog explained that the release of the guidelines became necessary in view of the resort of banks to GDRs with the principal aim of raising capital and selling shares, and the need to align the new development with the requirements of CCI issuance to foreign investors as well as build their confidence in the GDRs. "Certificate of capital importation shall continue to be issued in respect of foreign exchange inflow for loans, investment purposes and or capital, subject to existing guidelines as specified in the Foreign Exchange Manual.

"Where the foreign exchange inflow is in respect of GDR, a master CCI should be issued in favour of the Depository Bank (DB) to the tune of the foreign exchange inflow," the CBN directed. Upon issuance of the master CCI, the CBN said the receiving bank/Authorised Dealer should furnish it with a copy with the details of the beneficial investors to the GDR endorsed at the back of the master CCI. The apex bank directed that where any portion of the GDR is cancelled offshore by the investor, the depository bank shall inform the custodian/sub-custodian of the cancellation and provide the latter with the necessary documentary evidence of same.

"The depository's nominee custodian shall have valid CCI covering the number of shares withdrawn from the GDR and also effect a "markdown" of the CCI from the master CCI. "With the valid CCI covering the number of shares withdrawn from the GDR, the direct non-resident equity investor can trade with the underlying shares in the local market. The investor shall also be entitled to repatriate funds outside Nigeria," the circular said.

The CBN directed all authorised dealers to ensure compliance with the provisions of the circular, while those with subsisting approvals should also be guided accordingly. On the repatriation of funds outside Nigeria by the foreign investors, the circular on the guidelines on utilisation of CCI in the Forex Manual and/or relevant circulars on same shall apply. In addition, a duly completed form A, letter or evidence of conversion from GDRs to shares and confirmed by the depository and the nominee custodian; documentary evidence of cancellation of the GDR from the depository; letter from the direct non-resident equity investor, stating relevant details to the Authorised Dealer via his broker, requesting for repatriation of sales proceeds, shall also apply.

The CBN also directed that photocopy of the original CCI, and sale contract note or evidence of sale of shares from a Nigerian broker, be included for repatriation of funds processing.

Among Nigerian banks that have successfully raised dollar denominated capital via GDR issue ate Guaranty Trust Bank Plc, Access Bank Plc, and FCMB Plc. Those currently exploring the method include Fidelity Bank Plc, and Afribank Plc.

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Gaitame.Com Co Opts For Imperva's SecureSphere® Web Application Firewall

Imperva, the leader in application data security and compliance, today announced that Gaitame.Com Co., Ltd., a leading Japanese online foreign exchange (FX) trading company has deployed the SecureSphere® Web Application Firewall (WAF) to protect its web-based service delivery platform from application attacks including cross-site scripting and SQL injection. Gaitame.Com selected SecureSphere over competing products based on its 10X performance advantage, ability to be deployed with zero network changes, and Dynamic Profiling which automates policy management and enforcement.

Gaitame.Com specializes in on-line services for individual investors. Its online trading platform deals with twelve currency pairs and provides users with real-time information on the world's exchange markets as well as transaction services. Most web services offered at Gaitame.Com require data input by users and communicate directly with databases, which make them a potential target for cross-site scripting and SQL injection attacks.

Although Gaitame.Com regularly conducts third-party vulnerability assessments of its web applications, correcting problems is a time consuming process that requires code-level rewrites. SecureSphere provides continuous protection and maintains business continuity for Gaitame.Com applications, until any discovered vulnerabilities can be eliminated.

“In Foreign Exchange transactions, slow application response times translate into financial losses for users. As a result, performance was a key selection criteria for choosing a Web Application Firewall,” said Kazuyoshi Hirose, IT infrastructure manager for Gaitame.Com Co., Ltd. “SecureSphere met our performance requirements, was easy to deploy, and did not impose any changes to our existing network configuration. We are very impressed with its Dynamic Profiling capability, which operates without human intervention and eliminates management and maintenance burdens associated with competing products we evaluated.”

“Foreign Exchange trading is one of the most demanding application environments for any technology, and especially for an in-line attack protection device like a Web Application Firewall,” said Michael Lyu, vice president of Asia Pacific sales for Imperva. “Gaitame.Com’s selection of Imperva reinforces what over 350 leading global organizations have found – that SecureSphere delivers unmatched scalability, performance and ease of use required to support the most demanding business applications on the Internet.”

About SecureSphere

The award-winning Imperva SecureSphere® products deliver practical solutions to protect sensitive data in the databases, Web applications, and Web services that support business critical systems. SecureSphere assesses, monitors, and audits all access to an organization’s databases, and tracks and controls user activity through Web applications and Web services. With SecureSphere, organizations have an automated, proven means to achieve and document regulatory compliance. SecureSphere uniquely saves time and IT resources by operating transparently with no changes to existing infrastructure and dynamically, requiring no manual tuning.

About Gaitame.Com

Established in 2002, Gaitame.Com Co. LTD is the leading retail online foreign exchange marginal trading company in Japan. The Company specializes in on-line services for individual investors. Gaitame.Com deals with twelve currency pairs and provides users with real-time information on the world's exchange markets as well as transaction services. For more information, visit: http://www.gaitame.com/

About Imperva

Imperva is the leader in application data security and compliance. Leading enterprise and government organizations worldwide rely on Imperva to prevent data theft and abuse, and ensure data integrity. The company’s SecureSphere products provide data governance and protection solutions that monitor, audit and secure business applications and databases. For more information, visit www.imperva.com.

Imperva and SecureSphere are trademarks of Imperva, Inc. All other brand or product names are trademarks or registered trademarks of their respective holders.

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Top 10 Tips For A Successful Online Job Search

Caroline Levchuck,

While newspapers and networking still play an important role in looking for work, the Internet is now a vital component in any job search.

According to a Gad Levanon, economist at the Conference Board, "The Internet has become the most popular method of job searching." A recent survey by the Conference Board, the world's leading business membership and research organization, revealed that the Internet isn't only being used by more job seekers -- it's being used for a variety of job search functions.

Read on for some ideas as to how you can make the most of the Web's potential in your next job search.

1. Post your resume online at Yahoo! HotJobs so recruiters can find you -- even when you're not actively searching for work.

2. Join an online networking community, such as the new Yahoo! Kickstart or LinkedIn, and connect with fellow alumni, colleagues, and recruiters.

3. Search the names of old friends and coworkers to reach out and expand your network.

4. Research major employers, using news outlets or sites like Yahoo! Finance.

5. Tap the power of industry blogs to find folks who are doing what you'd like to do for a living and ask for advice. You'd be surprised at how many people are willing to share their wisdom with an up and comer.

6. Streamline your efforts by saving job searches and signing up for email job alerts so you'll know about new postings on Yahoo! HotJobs immediately.

7. Start an online job-search support group, perhaps using Yahoo! Groups or a social networking site. Open it up to members of your network who are looking for work and share encouragement and insights as you seek out new opportunities.

8. Visit company websites for additional job postings and to learn about each organization's corporate culture. This will help you determine if you'd be a good fit and provide you with insights for any interviews.

9. Browse trade associations and professional groups online for insights and new connections.

10. Patrol message boards and discussion groups to connect with like-minded and in-the-know professionals. Many times job openings are not posted immediately and these people may have hot inside leads on new opportunities.

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What To Say When Negotiating A Pay Rise

Margaret Steen,

Whether you're asking a potential employer for more money or your current boss for a raise, talking about money is awkward, especially when you are searching for the best way to phrase your request.

"Money is very tightly tied to our self-esteem," says Meryl Runion, author of "PowerPhrases." Asking for more money means saying you think you're worth more -- and risking hearing that someone else disagrees. "If somebody tells you, 'No, I don't think you are worth that much,' it's almost like saying you're not that valuable as a person."

A little practice can help you find the right words to make these requests -- and respond to the answer you get. Runion and other experts offer the following tips for two common scenarios.

Scenario 1: Getting a Raise

* Asking your current boss for a raise: The key is to ask in a way that shows you've done your research. Try saying, "I've been evaluating my own performance and what you've told me about my performance, and I would like to talk with you about increasing my salary," suggests Marcia Stein, a human resources consultant who recently published a book about recruiting.

This approach alerts your boss that you have analyzed your contributions and are not simply asking for a raise because you want more money. And by asking for a time to talk, rather than simply stating the raise you want, you give your boss time to prepare.

* If the boss says no: Despite your preparation, it may turn out that your boss isn't able or willing to pay you more. Try to find out the reason -- is there a companywide freeze on raises, or does your boss not agree that you deserve more? Stein suggests showing your interest in improving your performance by saying, "What would you recommend that I do so I can be one of the top performers on your team?"

Scenario 2: Negotiating a Higher Salary

* Negotiating a higher salary with a new employer: If you're offered a job but were hoping for more money, the key is to make the request in a positive way, says Lori Itani, an independent staffing consultant who focuses on high-tech companies and hears candidates' responses to offers. "If they're telling me that they really like the company, they really like the position, the manager and the team, and they'd really like to have this work, that's a good thing to say."

Itani suggests a way to phrase the request: "I'd really like to come on board, but I need some more help with relocation." If your goal is a higher starting salary, finish the sentence with, "but I need a little more in salary to justify the move from my current company to yours."

* If the employer says no: Even when you ask politely, it may turn out that the employer isn't willing to increase the offer. In that case, assuming you still want the job, your goal is to find out the possibilities for future raises -- while emphasizing that you intend to work hard. Runion suggests saying, "If I can prove my value, what are the possibilities for future raises?"

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Dont Let The Holidays Daze You

Roberta Chinsky Matuson,

On the third Thursday of every November, many employees unofficially begin their holiday hiatus, and it's hard for many of us to resist workday dashes to the mall. However, year-end holiday bonuses are right around the corner, and they are based on a full year of company earnings. Why risk a year's worth of performance and bonus pay for a few days of holiday mania?

Follow the five tips below for keeping your focus on the job during the holidays.

Plan for Down Time

You know it's going to happen, so why not plan for it? It's not uncommon for companies to restrict the number of employees eligible to take vacation at the same time. If you are one of those people who celebrate the holidays in a big way, then sign up for time off during the holidays as soon as the vacation schedule hits your desk.

Suggest a New Employee Benefit

Employers are constantly looking for ways to improve their benefit packages without spending a lot of money. Suggest to your employer that they offer all employees one two-hour lunch during the holiday season. If you need to, remind them most employees are taking the time anyway. This new benefit will be well received by employees and will allow the company to cut down on unexpected absences or tardiness.

Resist Taking on New Projects

By the time the end of the year rolls around, most people are giving all they have just to finish what's already on their plate. Adding a new project to an already full plate can easily send you over the edge. Hold off on starting new initiatives until after the first of the year. You will return from your hiatus refreshed and ready to go.

Don't Skip the Gym

Seasonal stress comes with the territory. Customers expect deadlines to be met, even when they are out of the office preparing for the holidays. You can kick back a bit, but this is not the time to go into slow motion. Maintaining your regular workout routine can help keep your energy level up and your weight gain down.

Shift Outside Commitments

Is your December calendar filled with social events while your January calendar remains empty? Are you spending hours in traffic trying to keep all of your social commitments? How about a new tradition? Shift a few gatherings to January and February so you can avoid constantly leaving work early during the end-of-year crunch.

Now that you know how to stay on task during the holidays you can relax knowing that you've done all you can to preserve your performance and year-end bonus!

Roberta Chinsky Matuson is the president of Human Resource Solutions (yourhrexperts.com) and has been helping companies align their people assets with their business goals. She is considered an expert in generational workforce issues. You can reach her at Roberta@yourhrexperts.com.

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Wal-Mart Set To Finally Buy-Up Seiyu

David Dolan and Nathan Layne

In an effort to consolidate its ownership, Wal-Mart Stores Inc will spend up to 100 billion yen ($878 million) to buy out minority shareholders in Japanese supermarket unit Seiyu Ltd in an effort to turn around the money-losing chain.

The world's largest retailer has invested more than $1 billion in Seiyu since 2002, but has yet to see anything more than temporary upswings in sales amid tough competition with rivals such as Aeon Co.

Seiyu is headed for its sixth straight annual loss in 2007, which had led to speculation that Wal-Mart would either need to invest more in the unit or that it would pull out of Japan, as it did from South Korea and Germany last year.

"We have not necessarily provided as strong a value as our customers would like," Ed Kolodzieski, Seiyu's chief executive, told a news conference.

The buyout will put an end to rumors Wal-Mart may abandon Japan, making it easier to do business with local suppliers and lenders, Kolodzieski said.

"From a business partner and supplier standpoint, they too should also see this as very positive news, for Seiyu now has the full-backing of Wal-Mart," he said.

Wal-Mart, which currently owns 50.9 percent of Seiyu, said it would offer 140 yen per Seiyu common share in a tender offer from Tuesday through December 4. The offer price marks a 61 percent premium to Friday's closing share price of 87 yen.

Trade of Seiyu's shares was suspended by the Tokyo Stock Exchange on Monday, following reports of the buyout.

"It really does give (Wal-Mart) the opportunity to do whatever they want to do with Seiyu," said Roy Larke, editor of Japan Consuming, an industry newsletter.

"They still don't have a major share of the market but they do own the number three retailer in the country. They have a much solider base than they ever had in Korea and therefore something to build on," Larke said.

SIGNS OF PROGRESS

For the year to December 31 2007, the company has forecast a net loss of 10.4 billion yen.

However, there may be signs of progress: same-store sales showed their first annual rise in 15 years in 2006, although they still fell short of the company's target.

Seiyu's Kolodzieski said there were no plans to shut down any of the supermarket's nearly 400 outlets in Japan and that it was looking to accelerate its renovation of existing stores.

Last month, Seiyu said it would offer early retirement to 450 of its employees, or about 7 percent of its work force. In 2004 the company eliminated about 1,600 jobs.

Cracking Japan's retail market, the world's second-largest, has proved a challenge for foreign companies, due to fickle shoppers and tough competition.

In recent years France's Carrefour and Britain's Alliance Boots have both pulled out of the market.

Shares of Seiyu have lost three-quarters of their value since the end of 2002, the year when Wal-Mart first bought into the supermarket.

During the same period, the Tokyo stock exchange index of retail stocks has gained about 25 percent.

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War On Amazon.com's 1-Click Online Shopping Patent

Stephen Hutcheon

Amazon.com, one of the world's largest online retailers, is on the brink of losing one of its most coveted patents. And it knows who to blame: a New Zealander called Peter Calveley.

The 36-year-old from Auckland has waged a solo campaign against Amazon and its army of lawyers since 2004 over the retailer's claim to its famous 1-Click patent, a process that enables online shoppers to buy goods with the single click of a mouse button.

In response to Calveley's request to re-examine the intellectual property, the US Patents and Trademarks Office (USPTO) has just handed down a decision rejecting all but five of Amazon's 26 claims to the patent.

The Patent Office agreed with Calveley's claim that processes similar to the 1-Click solution had been documented before the Amazon patent was lodged in 1997.

Eight of Amazon's 26 intellectual property claims were dismissed because of a Newsweek magazine article entitled The End of Money?. It was published in 1995 - two years before the 1-Click patent was lodged.

The article described a process where someone could click a button to pay for "an annotated bibliography of every article ever written about Sandra Bullock" and download the file.

The decision came after a 17 month-long investigation by the USPTO into US Patent number 5,960,411, described as a "method and system for placing a purchase order via a communications network". Jeff Bezos, Amazon's founder and its current CEO, is listed as one of the four inventors.

Calveley has not been officially informed about the adjudication because the letter from the USPTO has yet to reach his post office box. But the decision has been posted on the USPTO site and the actor and choreographer was tipped off when he noticed a surge in traffic to his blog.

"They [Amazon] deserved to get slapped a bit around the head," Calveley said in a telephone interview after learning about the decision.

He said that challenging patent holders could become a "new and fun sport", indicating he had several other targets in the crosshairs.

Amazon has two months to lodge an appeal with the USPTO and can opt to take its fight to the civil courts.

An Amazon spokesperson told the CNET technology news website that the company expected to file a response to the USPTO decision by the deadline of December 9.

The process works for subsequent purchases after a shopper has already input their credit card details.By expediting the process, the shopper is less to bail out of a transaction.

Critics argued that Amazon used its monopoly over what some claimed was a simple process unworthy of being patented to stifle competition.

In 1999, less than a month after the patent was approved, Amazon sued one of its major competitors, barnesandnoble.com, for using a similar process on its website. The company was forced to stop using it after losing the court case. Amazon now licences the process to many websites.

Calveley, who has no formal legal training, launched his crusade against Amazon after he used the site to order a book called Presenting Digital Cash in September 2004. He paid the extra few dollars to have the delivery fast-tracked by a courier company.

When the book failed to turn up, a frustrated Calveley vented his frustration in a post on his blog. "GRRRR!!!," he wrote on October 4, 2004.

Assuming the book had been lost in transit, he ordered another copy of the book. And while he was waiting for that to arrive, the first one turned up.

Ironically, the books were ordered not directly from Amazon but through one of the retailer's affiliate booksellers. And Calveley, who says he was only "mildly annoyed" by the stuff up, accepts that the delay was probably more the fault of the courier company than of Amazon.

Nevertheless, he decided to target Amazon. "OK, time for some UTU for the annoyingly slow book delivery," he wrote in his blog in November 2004, using the Maori word for revenge.

After trawling the US records, Calveley found another patent describing an "online secure financial transaction system" which had been lodged in 1996 - a year before Amazon's.

He also found references to a so-called DigiCash payment method in which a click on a website payment link would trigger a server to send a payment request to the customer. That also pre-dated the Amazon patent.

With the help of donations from readers of his blog, Calveley was able to cobble together the $US2520 fee the Patent Office office charges to re-open patent examinations.

In May 2006, the USPTO informed Calveley that his request for a re-examination had been granted after an initial investigation raised "substantial new question of patentability of claims".

Over the course of the past year, Calveley says Amazon was obliged to send him copies of documents presented to the USPTO to support its case. He now has some 65kg of paperwork stored at his home.

This is not the first time Calveley has made headlines. In 2003 he launched a one-man campaign to get his name included on the credits of Peter Jackson's Lord of Rings movies for his work as a motion capture artist.

Jackson's digital effects operation Weta Studios filmed Calveley and about a dozen other actors, using their movements as the basis for the computer-generated orcs and elves.

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How To Move Forward When Job Promotion Is Denied

Caroline Levchuck

There are few things worse than pursuing a promotion only to be passed over for it. Whatever the reason, it could take you a while to get over the shock or humiliation you're feeling and to adjust to having a new supervisor, if that's the case.

Follow these three steps to help you move on after you didn't get to move up.

1. Be gracious.

New York career coach Deborah Brown-Volkman advises, "Be great! You have to be great and professional when this happens." Even if a much-loathed coworker receives a promotion you'd coveted, extend congratulations to her. Also, offer sincere assurances that you're going to be the same team player you've always been.

Doing your best to support all of your colleagues will only help your professional reputation. A stalwart attitude will deflect any passing pity people may be tempted to feel for you.

2. Get answers.

Brown-Volkman counsels her clients, "When you're trying to find out what happened, first look inward. Many times people know why they didn't get a promotion."

After your emotions have settled, set up a meeting with the powers that be to discover why you didn't win the promotion. Brown-Volkman, author of numerous books including "Coach Yourself to a New Career," says, "People don't like to tell other people the cold hard truth, so you have to give them permission to tell the truth." She suggests assuring your supervisor and colleagues that there won't be any consequences for being honest. "Tell them, 'This is just for me.'"

Bring questions to your meeting so you can learn how to overcome any professional shortcomings or lack of specific skills. Ask for suggestions as to how you can better improve your performance. Request specific situations that made your superiors doubt your ability to handle the new position. Try to get your employers to help subsidize some professional development courses that might improve your performance on the job.

And then, says Brown-Volkman, "Start making changes."

3. Make your move.

After you learn why you didn't get a promotion, you may come to understand that you're not perceived as management material and even the best in-office public relations campaign would be futile. To climb to the next notch, you may need to move on to a new employer.

"If you've given it your best shot and it's going nowhere, it may be that you're just not a fit for that organization," says Brown-Volkman. "Find a place where you do fit."

Employees who have worked for only one company often face a similar predicament. Diversifying your employment experience is a plus, and Brown-Volkman firmly believes that other companies will value your talents.

"People get stuck in failure," she states. "But you didn't fail. It was a learning experience."

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How To Be Clever And Cautious During Job Interview

Tom Musbach

Well-meaning job seekers sometimes get too creative when making their cases to potential employers, such as the candidate who said he was "allergic to unemployment."

The contrived allergy and other wacky pitches were revealed by hiring executives in a recent survey by Accountemps, a large staffing service for financial professionals.

Creativity Can Backfire

The group of 150 senior executives offered several other examples of candidates going too far in their attempts to stand out:

* "One candidate said that we should hire him because he would be a great addition to our softball team."
* "A candidate sang all her responses to interview questions."
* "One individual said we had nice benefits, which was good because he going to need to take a lot of leave in the next year."
* "An applicant once told me she wanted the position because she wanted to get away from dealing with people."

The statements above reflect poor approaches to an interview question that is very common: "Why should I hire you?" Career experts offer several alternatives that can help job candidates respond more successfully.

Break It Down

Richard Phillips, founder of Advantage Career Solutions in Palo Alto, California, suggests a three-step approach that flows from the job description:

1. Begin your answer by listing the top three to five requirements of the job as you understand them, based on your research and what you've learned in the interview
2. Summarize how your skills and experience will enable you to make a significant impact in those areas.
3. Finish by stating your interest in the organization. Keep it short and sweet.

Tailor Your Story

Joe Turner, who wrote "Job Secrets Unlocked!" and runs jobchangesecrets.com, suggests that you prepare your best "story" to answer the question by showing how you will go the "extra mile."

"Here is where you recant that story of exactly how you worked 60-hour weeks, acquired new skills, or whatever it took to distinguish yourself and meet the challenge head-on to successfully make the sale, save the project, rescue a client, or whatever it was," he says.

"If you can monetize (put a dollar value on) the end result, your story will only be that much more dramatic. Since no other candidate can duplicate your own personal story here, you'll make a memorable impression."

Run With Your Ideas

During the process of researching the employer and preparing for the interview, think of what you might do if you had the position, advises Carla-Krystin Andrade, author of "Kick Start Your Job Search."

"Perhaps you have an idea for a new feature for their product or a new process that is relevant to the position," she says. "This is the perfect time to tell them about this idea and show them how you would bring value to the position if they hired you."

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Working For A Funny Boss

Tom Musbach,

When you think of the ideal boss, actress Carol Burnett and late-night TV host David Letterman probably don't come to mind. But those two celebrities have a quality that most workers say is essential to being a good boss: a sense of humor.

When asked in a recent poll how important it is for a manager to have a sense of humor, 65% of workers answered "very important," while 32% answered "somewhat important." The survey, conducted by staffing firm Robert Half International, also revealed that most of the workers (87%) rated their managers as having good senses of humor.

Max Messmer, chairman and chief executive of RHI, said the survey underscores that humor can make a boss seem more approachable, but it's not a license to be a clown.

"To be taken seriously, supervisors must balance their desire to keep the mood light with the need to accomplish business objectives, inspire great performance, and maintain professionalism," Messmer said.

Is Your Boss Funny?

You may not know whether your boss has a good sense of humor. "In this case, it's best to let your manager set the tone for humor," says Liz Bywater, president of Bywater Consulting Group, a Philadelphia-area firm focused on organization performance.

"It's OK to 'test drive' using some humor to see how it's received," she adds. "Just do so cautiously at the beginning. Take a mental note of your manager's response and let that be your guide."

"Definitely stay away from sarcasm or any statements that might be offensive or potentially viewed as criticism," advises Debra Mandel, a psychologist and author of "Your Boss Is Not Your Mother." She continues, "Some managers take the workplace too seriously, but it's not an employee's job to loosen them up -- unless of course the employee doesn't mind the view from the unemployment line."

Humoring the Boss

What if you don't think your boss is very funny?

"Humoring a not-so-funny boss is OK," says Bywater. "Think of it as being kind and sensitive to the feelings of another human being. Don't, however, humor a boss who has gone over the line from funny to offensive."

Manage the Punch Lines

For bosses who want to flex their humor muscles more, Bywater suggests the following guidelines:

* Do not make jokes about anyone's physical appearance.
* Do not attempt humor that could be construed as sexist or racist, even if it's not intended as such.
* If you've got a direct report who is particularly sensitive or has no sense of humor, it's best to play it straight.

Having a good sense of humor at work helps everyone, Mandel concludes.

"Both bosses and employees need to stay on track and be productive, but everything doesn't have to be heavyweight," she says. "Sometimes it's good to just have a big belly laugh, especially when things go wrong, and look forward to the next day to get back on track."

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How To Handle Workplace Gossips

Heather Boerner

Getting ahead at work may hinge on resisting the urge to spread the latest news about your coworkers.

"You may think gossip is harmless, but you might just be shooting yourself in the foot as far as your credibility goes," said Rachel Weingarten, author of "Career and Corporate Cool: How to Look, Dress and Act the Part at Every Stage of Your Career." She continues, "Let your work speak for itself. You don't need to be the one making yourself look better by talking down someone else."

Consider the Damage

Sure, gossip can be almost too enticing to keep to ignore -- but consider these consequences:

* You lose your reputation. "My reputation is my business," said Weingarten. "If someone says something bad about me, or I become known as a gossip, that could affect my entire career."
* Coworkers avoid you. "If people view you as a gossip, they may stop sharing information with you," said April Callis, president of Gossip Stoppers, a program designed to create positive workplaces. "Then instead of being the one with all the power and information, you're out of the loop because no one trusts you."
* Your work suffers. The negativity spread by gossip makes people hate their jobs. "They miss work, they get less done while they're there, and they feel unappreciated," says Callis. Suddenly, you're not giving your best, and your boss may notice.

There's a better way to deal with water cooler talk. First, and perhaps most obvious: Keep the information to yourself.

It's one thing to learn the office scoop -- it's another to share it. Even asking someone else at work to verify what you've just heard counts as gossip, said Callis. If it's something criminal, tell your boss. If not, let it drop.

Resist the Urge

Next, teach your coworkers not to gossip with you. Use these techniques:

* Replace gossip. Sometimes gossip is the only thing you have in common with coworkers, said Weingarten. So find something to replace it. Do you both knit? Are you both sports fans? If you must gossip, do it about movie stars or soap operas, she said. Just leave the office out of it.
* Set a timer. If a coworker or employee comes to you determined to gossip, set a timer for five minutes, and let the person spew. When the time's up, so is the gossip. You don't have to respond, said Callis. You can just listen.
* Write it down. When a coworker runs to your desk with the latest juicy gossip, get out a pad and pen. Writing down the facts serves two purposes: It shows the gossip that everything she says is being documented. And it helps you focus on facts instead of feelings.

What you may find is that you and those around you feel happier as they gossip less, says Callis.

"When I walk into a positive workplace, people are engaged and they feel valued," she says. "They stay."

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