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Subject: persfin-digest V4 #41
Date: Thu, 29 May 1997 21:01:14 -0400 (EDT)
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persfin-digest Thursday, May 29 1997 Volume 04 : Number 041
IN THIS ISSUE:
ADVERTISEMENT: LAN ACCESS TO MCI MAIL [Oppenheimer Software <Connect-Sal]
Small claims action against a small corporation? ["alkon" <alkon@hal-pc.o]
Co-Mingling IRA's <--Help!! ["Mark Smith" <msmith@cygnacom.com>]
Investing for a friend? [David Hodges <dhodges@recol.com>]
Re: Spare Computer for Bulgarian University Student ["Barry H. Rodin" <b]
Books for Food Bank? ["Charles R. Atkison" <cratkison@ctlnet.com>]
Re: Old Computers For Charity [David Martin <dmartin@seabreeze.hc.ti.com]
Re: Kev's "Rules of Thumb" for Financial Security [David Martin <dmartin@]
Re: Cheap Prescription Drugs In Mexico ["Lester M. Levy, MD" <llevy@hofli]
Re: Stock in CUST To My Mother? ["Lester M. Levy, MD" <llevy@hoflink.com>]
RE: Family Finances ["Jackson, Anthony D." <JacksAD1@central.ssd.jhuapl.]
Re: Anonymous - Feedback on Financial Situation ["Louis J. Schwarz, CFP, ]
Looking For A Real Rent vs. Buy Housing Formula [antique@castle.net]
RE: Kev's "Rules of Thumb" for Financial Security [Jeff Morgan <Morgajs@p]
Mail Order Pharmacies - Response from a Pharmacy Professor ["Phillip Jenn]
Re: Cheap prescription drugs in Mexico [P Keehn <pakeehn@ucdavis.edu>]
What is the marketability of a monetary load down of financial ["Mr. Fred]
Re: Mexican Prescriptions/Emergency Care/ CUST Stock/Windows 95 [kmeinken]
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Date: Thu, 29 May 1997 20:27:48 -0400 (EDT)
From: Oppenheimer Software <Connect-Sales@mcimail.com>
Subject: ADVERTISEMENT: LAN ACCESS TO MCI MAIL
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------------------------------
Date: Thu, 29 May 1997 20:29:16 -0400 (EDT)
From: "alkon" <alkon@hal-pc.org>
Subject: Small claims action against a small corporation?
I have had a problem with the director of an incorporated child care
center not paying her bill for services my small company rendered.
After many calls and 3 letters to her, I have finally decided to
start action through a small claims court. However, I have just
found out that her child care center is incorporated. I assume that
I am now taking action against the corporation. What are the
complications in doing this?? I live in the state of Texas.
------------------------------
Date: Thu, 29 May 1997 20:30:10 -0400 (EDT)
From: "Mark Smith" <msmith@cygnacom.com>
Subject: Co-Mingling IRA's <--Help!!
I hope there is someone out there with expertise in tax laws that can
help me shed some light on a dilema I have. Over the course of the
years I have, due to various jobs and employers, acquired a
burgeoning collection of IRA's. To date, I have the following types
of IRA's:
1) Regular IRA; includes deductible contributions and
employer-sponsored contributions, all money in 1 fund; not
adding to this IRA.
2) SEP-IRA; set up while self-employed; not currently adding to
this IRA; the money is divided over 4 funds.
3) SAR-SEP IRA; managed by my current employer who makes
employer contributions on my behalf; currently adding to this
account; in 1 fund.
I have so far, except for #1 above, kept things separate because I
wasn't sure about comingling. What I am trying to do is consolidate
some of them because a few of the individual funds are not large. In
addition to what I have, my wife has her IRA and 401k. So, am I
wrong to want to try to simplify my accounts?
What problems might I create by combining different types of IRA's,
such as qualified status and creating accounting nightmares when I
get around to withdrawing funds from these accounts?
Since some of the money is in a Fidelity account, I called them and
asked them this same question. To their benefit, they recommended
that I keep different types of IRA's separate because they said it
would give me the greatest number of options down the road. If all
money is comingled, then I can't move it to an employer plan later.
I called some of the other funds companies the money is with and for
the most part they said no problem in comingling...didn't identify
any limitations or restrictions in combining. So now I'm confused.
Who's right?? Does anyone have some advice or guidelines I can use
to guide me in my decisions??
Thanks!
Mark Smith
------------------------------
Date: Thu, 29 May 1997 20:32:10 -0400 (EDT)
From: David Hodges <dhodges@recol.com>
Subject: Investing for a friend?
I was telling a friend about the moderately good success I've had investing
in mutual funds and she asked if I could invest some money for her. At
first I said yes but as I thought more about the legal and tax situation, I
became more doubtful. If I just throw her money in with mine, then legally
I become responsible for the capital gains and/or losses, PLUS the money
she gives me is income to me (right?).
I suggested that she open a brokerage account that I could trade from using
her id and password, but she doesn't want to because the minimums are too
high for her(e-schwab, which I use, has a minimum of $5000).
I have thought of the investment club type of arrangement but don't know
too much about it and am leery of having to set up an LLC or something.
Therefore I am wondering if there are any angles I haven't thought of that
could make this work, or if I should just tell her to forget the idea.
Thanks,
David Hodges
(Editor's Comment: Sounds like an excellent way to sour a friendship.
- -IK)
------------------------------
Date: Thu, 29 May 1997 20:34:20 -0400 (EDT)
From: "Barry H. Rodin" <brodin@pica.army.mil>
Subject: Re: Spare Computer for Bulgarian University Student
Comments:
1. How much would it cost to ship a computer to Bulgaria?
2. What shipping methods would be necessary to insure that the
computer would not be damaged in shipment?
3. Are there any duties that need to be paid in order to clear customs?
4. Remember that certain software may not be exported due to restrictions
on encryption, etc.
Barry
P.S. Since my best computer at home (in NJ) is a 286, if you know of any
386 or 486 PCs that are ready for the dumpster, perhaps we can make a deal?!
------------------------------
Date: Thu, 29 May 1997 20:35:32 -0400 (EDT)
From: "Charles R. Atkison" <cratkison@ctlnet.com>
Subject: Books for Food Bank?
Do you ever supply books or booklets to food bank families? Perhaps some
you are even ready to throw out? I am in charge of Community Care Food
Bank in Garrett,IN. We are trying to contact various businesses and
associations for recipes for common foods, fixed a different way in
order to vary the diets of those who come to us. Approximately 220
different families visit us each year. If you can help us in any way, I
would truly appreciate it. Thanks for considering this request.
Sue Atkison
215 W. 5th Ave.
Garrett, IN 46738-1936
satkison@ctlnet.com
(Editor's Comment - Perhaps another way to help others and take a tax
deduction at the same time? -IK)
------------------------------
Date: Thu, 29 May 1997 20:36:32 -0400 (EDT)
From: David Martin <dmartin@seabreeze.hc.ti.com>
Subject: Re: Old Computers For Charity
>(Editor's Comment - I've seen a lot of useless (to us) computers thrown in
>the dumpster. These 286, 386, and 486 computers can be recycled to
>Bulgaria and other less fortunate countries. There's even a tax deduction
>here. Comments? -IK)
Three problems are shipping costs, possible differences in the
power supply, and fraud. These problem are not insurmountable, but
they are much more easily dealt with by some sort of organized charity
than by mailing the computer off yourself. Or you could just donate it
to a local charity.
And don't forget to make sure you REALLY have deleted any
personal data from your hard drive.
-David Martin
------------------------------
Date: Thu, 29 May 1997 20:39:04 -0400 (EDT)
From: David Martin <dmartin@seabreeze.hc.ti.com>
Subject: Re: Kev's "Rules of Thumb" for Financial Security
>7. Always buy a used car (Used is three or more years old). Cars
>depreciate at the maximum rate during the first three years. Car leases
>are to be avoided by most individuals.
There is a reason why cars depreciate quickly during the first
3 years. That is the length of most standard warranties. I would
suggest buying a one or two year old car that still has some time left
on the warranty. That way, if there are any big mechanical problems,
you can get them fixed under warranty.
And the number one rule is: Start early by getting a good
education so that you can get a good job that both pays enough to allow
you to live the way you want and is also reasonably fun.
-David Martin
------------------------------
Date: Thu, 29 May 1997 20:40:20 -0400 (EDT)
From: "Lester M. Levy, MD" <llevy@hoflink.com>
Subject: Re: Cheap Prescription Drugs In Mexico
"Joseph Brouillette" <Broutek@worldnet.att.net> wrote: (some snips)
<<<I am blessed with having a cousin Maria that lives in Laredo Texas
near the Mexican border. I send her my extended families prescriptions
once every three months, and she goes across the border to Nueve Laredo
Mexico and has hers and mine filled. Sometimes making several trips.
Then she mails the drugs to me.
This saves us in some instances, as much as 70% on a subscription.
Supposedly you can bring 3 months supply of prescription drugs across
the
border legally. You can also get drugs without a prescription by having
the Mexican pharmacy write the prescription for you, which is legal.
Here in the New Orleans area, there are special buses that make trips to
Laredo Mexico, to especially buy prescription drugs. Maria really
believes that the border guards sympathize with the individual
prescription Mexican drug buyers, and instead concentrate all their
efforts on the illegal drug trade
I welcome all comments / information regarding my post.>>>>
I was in Mexico City, and Cancun a couple of years ago, and found that
for some prescription drugs there was a substantiation reduction in
prices compared to the US, while for others the price difference was
negligible or even higher than the US. Also many items available in US
only by prescription were freely available in Mexico by merely
requesting them.
As everyone knows there are two type of prescription drugs.. those that
are made and sold under the brand name of the original patent holder,
and generic equivalents, sometimes made by larger, well known
pharmaceutical houses, and others made by lesser known purely generic
houses. Often there is a 50 percent reduction in cost of generic
equivalents. While nothing works perfectly 100 percent of time,
generally brand-name drugs have very consistent dosage and
solubility/bioavailability formulations, while generic drugs are
generally IN THE US very good, but with some recent very notorious
problems such failure of proper testing, and less consistent
dosages/bioavailability.
For some purposes, cardiac, diabetic, thyroid hormone replacement,etc.
it is important that dosage and bioavailability be very consistent. For
other applications, such consistency is perhaps less important. Certain
formulations such as sustained or slow release (oen or two doses per day
rather four or more per day), and enteric coating (to protect intestinal
lining) are especially apt to be very sensitive to manufacturing
problems. Deviations may result in either too rapid release, or even
failure to dissolve and lack of delivery to the body.
I would feel more comfortable buying brand name or well known generics
in Mexico, but would not feel safe buying local generic drugs made
there. But if you compare the cost of a brand name drug in Mexico with a
good generic in the US, there may be less price differential.
As to why brand name drugs may be a great deal cheaper in Mexico, it's
probably multiple factors:
1) lower labor and productions costs if the brand name drugs are made
in Mexico
2) competitive pressures to get market share in Mexico.. clearly with
lower disposable incomes in Mexico, to sell into that market, it is
necessary to have prices the locals can afford.
3) just as the Japanese often have lower prices for their exports to
the US, than they charge their Japanese customers, so US pharmaceutical
houses can charge lower prices in their exports.
To research, develop, pass FDA tests, and bring to market a drug often
involves an investment of half a billion dollars. Many drugs never make
it to market, and others never have enough use to defray the development
costs because the number of patients with that disease is fairly small.
Those costs also have to be amortized into the prices of the successful
drugs. The amortization can take place in the home country, and the
incremental costs for making and distibuting the export drugs can be
then be much less. The Japanese and the US pharmaceutical houses
amortize most of their overhead costs in the home country, and can
undersell in the export countries. The quality of American made drugs is
superior to those made in Mexico.
The decision to buy the cheaper exported items (Japanese autos, cameras,
TV's and VCR, or US drugs in Mexico) is a matter of balancing your
personal self-interest against the need to preserve higher paying jobs
in the home country. For many years I bought American autos in support
of my fellow country men.
But eventually, I grew tired of the poor workmanship and design of the
American auto (I remember driving a brand-new Dodge out of the sales
make-ready area only to see the oil pressure gauge drop to zero because
not all the bolts were installed in the crank case pan)(Another
occasion, the first time I put the night headlights on in a brand new
Pontiac, the light switch came apart as I pulled it on.. requiring us to
wait for an emergency tow)(a third time, the first time I had to remove
a wheel because the tire was flat, I found I could not because the sales
make-ready forgot to remove the locking nuts which protected the wheels
from theft on the show place lot.), and my family have bought what we
felt were superior Japanese cars. I am not happy that it turned out that
way, but part of the blame is the poor attitude of American workers and
company officials in Detroit, and in local sales outlets of American
autos.
- --
-Lester M. Levy, MD llevy@hoflink.com
------------------------------
Date: Thu, 29 May 1997 20:41:32 -0400 (EDT)
From: "Lester M. Levy, MD" <llevy@hoflink.com>
Subject: Re: Stock in CUST To My Mother?
Fred Schiff <f.schiff@ieee.org> wrote:
<<I have a bunch of stocks which my grandfather purchased for me when I
one or so. They are still in "Cust" to my mother. How do I get them
out of that?>>
To get the exact method, you should call the customer relations office
at the company issuing the stock. They will probably refer you to the
trust company handling stock transfers. Typically, you get a certified
copy of your birth certificate showing you are older than 21 (or 18
depnding on state), and write a letter of instructions saying you are
enclosing stock certificate(s) under the uniform gift to minors act, and
that you wish to convert them to your name. You will send the stock
certificate, birth certificate, and letter to the transfer agent,
registered mail insured for about 2 percent of the current value of the
stock (to cover any bond required if the certificates are lost..ask the
transfer company for their recommendation). Do not sign the back of the
stock certificate (unless so instructed). (Not a pro.)
- --
-Lester M. Levy, MD llevy@hoflink.com
------------------------------
Date: Thu, 29 May 1997 20:42:52 -0400 (EDT)
From: "Jackson, Anthony D." <JacksAD1@central.ssd.jhuapl.edu>
Subject: RE: Family Finances
The family had concerns listed below. I know this will generate plenty
replies. Here's my 2 cents worth.
You need to priortize each item. I would suggest:
* Be more aggressive, especially with retirement, you still have a least
20 years. 30% fixed is probably too much at this point. Move some of
that money to equities.
* Get some level premium term insurance. You can get 20 yr/$500K for
about $400.00 per year. Check the web for Quickquote, Bestquote,
QuoteSmith etc.
* See if you can get disability insurance through one of your
professional organizations. You didn't mention your profession but each
of you need about 70% if you can't work.
* Pay off that insurance load. What's the purpose?
* Take advantage of the IRA both you and spouse even if its
non-deductible.
* Great start on the kids college funds. Suggest you do semi-annual
payments. It just gives you less transactions to calculate down the
road.
* Do the Big Picture on all your investments. Use excel spreadsheet and
make a pie chart which shows the precentage of each type of investment
(ie. fixed, balanced, Growth, Aggressive Growth, etc). Compare this
with where you want to be at your age. You can get one of those
questionairs from any of the mutual fund companies that will show you
what your distribution should be.
I think that's more than 2 cents.
"TJ"
- ------------------------------------------------------------------------
- -------------------------------------
Here are the specific problems I'm aware of:
1. I know we don't have enough put away for emergencies.
2. I know we don't have enough put away for retirement.
3. We're both underinsured, each having about $30,000 term
life through our employers. Disability insurance is
minimal, limited to that provided by the state and our
employers.
4. I'm paying $30 a month PMI on the mortgage, but should
be able to do an appraisal next year and have it dropped.
Here are my specific concerns:
1. Are we assuming too much risk in our retirement and
college funds? Too little?
2. Are we saving enough for college for our two kids?
3. Should we suspend our contributions to the aggressive
growth mutual funds for a few months and bolster our
emergency cash reserve?
4. Should we suspend our contributions to the aggressive
growth mutual funds for a few months to pay down the
second mortgage? If so, should this come after we have
the recommended three to six months expenses saved?
5. Is there ANY way at all to shift money from those funds
that are not meeting my expectations to funds that may do
better, without incurring gains taxes? (Funds other than
401k and IRA, I know I can churn those as much as I want.)
6. Any major mistakes I'm making here?
Thanks!
------------------------------
Date: Thu, 29 May 1997 20:45:38 -0400 (EDT)
From: "Louis J. Schwarz, CFP, RFC" <sfc@clark.net>
Subject: Re: Anonymous - Feedback on Financial Situation
1. Are we assuming too much risk in our retirement and
college funds? Too little?
What retirement income would you like to have if you retire today? Also,
what inflation rate would you like your retirement income be based at?
Also, same thing with college funds? What amount would you like to
reach for each kid? and how long before each kid attends the college?
2. Are we saving enough for college for our two kids?
See the answer above.
3. Should we suspend our contributions to the aggressive
growth mutual funds for a few months and bolster our
emergency cash reserve?
How much would you like your emergency fund to be?
4. Should we suspend our contributions to the aggressive
growth mutual funds for a few months to pay down the
second mortgage? If so, should this come after we have
the recommended three to six months expenses saved?
Cannot comment without looking at your previous and projected tax
returns.
5. Is there ANY way at all to shift money from those funds
that are not meeting my expectations to funds that may do
better, without incurring gains taxes? (Funds other than
401k and IRA, I know I can churn those as much as I want.)
Other than retirement or deferred plans, there is NO way to shift from
one fund or investment to another without selling and buying (same thing
with transfer or exchange).
6. Any major mistakes I'm making here?
Yes, too much in fixed or non-equity income securities - however, cannot
comment without knowing your goals, your expected cost of living rate,
and time frames, etc. Also, very underinsured - not enough to provide
income gap for kids - must purchase life insurance as soon as tomorrow
because you never know what happens to your life tomorrow and what could
your kids face without you! You have not mentioned about estate
documentation (will, power of attorney, guardianship for kids, etc.)
- --
$ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $
Louis J. Schwarz, CFP, RFC TTY 301-587-5996
Schwarz Financial Concepts FAX 301-587-5997
814 Thayer Avenue, Suite 301 Voice Relay 800-735-2258
Silver Spring, Maryland 20910-4500 Mailto:sfc@deafcfp.com
------------------------------
Date: Thu, 29 May 1997 20:46:16 -0400 (EDT)
From: antique@castle.net
Subject: Looking For A Real Rent vs. Buy Housing Formula
Dear Persfin-ers,
By coincidence a couple of people have asked me
lately about a rent vs. buy formula I have touted that
was posted some years ago here on the digest. I'm
wondering if someone could repost that formula.
It took into account all the expenses and financial
benefits to buying a residence and arrived at a
monthly figure that in effect would describe how much
you were "losing" each month to own your home. One
would compare this to how much one would "lose" each
month in rent for a home of similar specs, and make
the decision accordingly.
I did a web search for "rent vs. buy" and was
astonished to find so many sites maintained by
mortgage companies or financial institutions that so
obviously showed a bias for buying. Their "rent vs.
buy calculators" often failed to take into consideration
huge factors such as maintenance and closing costs.
To be fair, there were also some that failed to take
into consideration the tax benefits of owning.
In any case, I am not looking for a "calculator" per
se, but an actual formula. Does anyone have it handy?
Thanks,
Robert C Whitmore, Jr
antique@castle.net
------------------------------
Date: Thu, 29 May 1997 20:46:54 -0400 (EDT)
From: Jeff Morgan <Morgajs@parsec.com>
Subject: RE: Kev's "Rules of Thumb" for Financial Security
>
> 1. Deposit the maximum of your Pre-Tax dollars from your weekly (or
> bi-weekly) paychecks into your employee retirement plan ( hopefully
> this
> is a diversified stock plan). Saving Pre-Tax dollars makes you an
> immediate 10% or much more, in addition to what you will make every
> year
> through interest..
>
I'd add one thing: make it clear that if one has earned income,
they can always contribute to an IRA too, even if covered by
a plan at work. The *deductibility* of the contribution may
be affected, but the *limit* of the contribution is not.
I've seen this question 6,842 times in the three years
I've been reading the digest. :-)
> 4. Mortgages should be no more than twice your yearly salary. Again,
> you might be debt poor with anything more. Save money so that you can
> ensure your mortgage will be only this size. Buy a condo or a small
> house if that is all you can afford. Many people do this for the tax
> advantages.
>
On this one, I'd add that if possible, it's a good idea to try to
put at least 20% down so that one can avoid paying PMI.
Good ideas, Kevin, please keep us posted!
- --
Jeff Morgan - mailto:morgajs@parsec.com
------------------------------
Date: Thu, 29 May 1997 20:50:02 -0400 (EDT)
From: "Phillip Jennings" <pjennings@deans.pharm.utah.edu>
Subject: Mail Order Pharmacies - Response from a Pharmacy Professor
I would like to respond to the postings regarding getting your
prescription medications filled by mail order pharmacies. I am a
pharmacist and a faculty member at the Utah College of Pharmacy.
Yes, prescription (Rx) drugs are very costly and difficult for many
people to pay for, but the benefits of filling your prescriptions at your
neighborhood pharmacy may outweigh these costs.
A 1995 study reported in the Archives of Internal Medicine estimates
that in 1992 our country spent $75 billion on Rx drugs BUT the costs
of adverse effects and noncompliance with prescribed therapy
exceeded $76 billion. In other words we spend as much treating the
problems caused by medications as we do taking the medications!!
While this study is an estimate only, many other researchers
(including Medicare / Medicaid and the US Gov't) back up these
findings.
While large scale data are lacking, many small studies have shown
that regular contact with your local pharmacist improves the outcome
of medication use and decreases the risk of adverse effects. I don't
just mean getting a prescription bottle handed to you, but to have
you and the pharmacist openly discuss the optimal use of your
medicines, how best to take them, the importance of compliance with
your doctors orders, etc. You CANNOT get this type of personalized
service at a mail order pharmacy. Also who is going to review your
medications for dangerous drug interactions or assist you in
selecting the best over-the-counter product at a mail-order pharmacy?
If your local pharmacist doesn't offer to counsel you on your
medications, demand it. It is their job. If more pharmacists
regularly counseled patients on their medicines, then the "costs" of
medical care will be reduced, possibly into the billions of dollars.
This is good for everyone. Also even though you are stable on a
chronic medication, a mail order pharmacy may still not be your best
bet. Who doesn't get the occasional antibiotic prescription or
select a nonprescription medication? The mail order pharmacy will
certainly not check for drug interactions.
Sorry for the long posting, but consumers need to demand more from
their community pharmacist and realize that the pharmacist's job is not
to count pills and fill prescription bottles. Our job is to ensure
that you receive the best possible result when you use medications.
You cannot get that service form a mail order pharmacy.
Phillip Jennings, Pharm.D.
Assistant Professor
Department of Pharmacy Practice
University of Utah College of Pharmacy
(Editor's Question - What is the ethical obligation of the pharmacist if
he/she disagrees with the doctor's prescription - the dosage, route, or
the medication itself? -IK)
------------------------------
Date: Thu, 29 May 1997 20:51:54 -0400 (EDT)
From: P Keehn <pakeehn@ucdavis.edu>
Subject: Re: Cheap prescription drugs in Mexico
This is not to alarm you, but you should be aware that the Mexican police
are selectively enforcing their laws concerning buying of prescription
drugs from prescriptions written in the U.S. and filled in Mexico for the
reasons you mentioned.
Just about a week ago I read a long sad story about an American man who
went south of the border to purchase several months supply of prescription
drugs and he was arrested. I believe he is still in a Mexican prison
awaiting trial. Sorry I can't give you more details but I read so much
and don't remember anymore. If the purchaser is a Mexican may be
the safer way to do it.
Good luck.
Pauline
(Editor's Question - Does this mean the Mexicans are only enforcing laws
relating to legal drugs and looking the other way regarding illegal drugs?
- -IK)
------------------------------
Date: Thu, 29 May 1997 20:52:15 -0400 (EDT)
From: "Mr. Fred Fed" <fred@fed.fbi.cia.epa.usda.org>
Subject: What is the marketability of a monetary load down of financial
What is the parameter of the monetary skewness in the Jolson's model of
economic financial regularity of the quality system of the fiducuary
market of global planning?
------------------------------
Date: Thu, 29 May 1997 20:55:33 -0400 (EDT)
From: kmeinken@one.net
Subject: Re: Mexican Prescriptions/Emergency Care/ CUST Stock/Windows 95
>From: "Joseph Brouillette" <Broutek@worldnet.att.net>
>Subject: Cheap Prescription Drugs In Mexico
>Some of you may frown on these practices, but the drug industry in
>this country is so powerful, and the prices so high, that something
>needs to be done. The drug lobbyist in Washington are so deep in the
>politicians pockets, it's like a hopeless case for reform.
Yes, the drug industry has a powerful lobby and the industry is
generally profitable...thank goodness! If it were not for those
profits, we would not have the useful drugs that we have! With profit
comes the incentive to create. Without profit there is a lack of
innovation.
You lambast the industry for wanting to extend patents, etc. Well,
often after many years of development and many years of submitting
tests to the government and being told to do more tests, a company
finally gets to put a drug on the market....for a few years if they
are lucky. If they aren't lucky, many millions of dollars go down the
drain. Most companies are lucky to succeed with one of ten drugs.
Many companies have given up on developing drugs because the cost is
too high and the rewards too uncertain. (I'm talking major, well
financed companies with strong research capabilities.)
Yes, drugs are cheaper in Mexico...partially because of a lower cost
of gov't regulation, and a lot because they couldn't afford to pay the
full cost of development. Say it costs a company $0.10 to
manufacturer a pill and $1.00 to develop it. Well, if they can sell
it for $1.25 in the U.S. and $0.20 in Mexico, they can stay in
business and develop new drugs. But if they can only sell it for 20
cents anywhere, there won't be any company left to develop new drugs.
Would you be happy never to see another drug developed? If not, they
you have to pay your fair share.
If you think the drug industry is bringing in obscene amounts of
money, then why don't you invest in some drug companies and share in
all of these extreme profits?
Ken
- --------------------
>From: BOB FORD <BOB_FORD@compuserve.com>
>Subject: Re: Emergency Care (Fred Decker)
>protests and the protests of the people in her bed room. She was
>barely alive when we got her to the hospital and she died in the
>emergency room. The doctors told me that if they had seen her only 1
>hour sooner they could have saved her.
>That happened 38 years ago and I can still remember it as if it was
>yesterday. That was my last day on the job as an emergency medical
>technician. I knew I had to find another way to make money to go to
>college.
Bob,
I'm glad that was your last day as an EMT. You had no right to force
YOUR desires on someone else. You violated her rights so that you
could be satisfied. This was in the U.S, I presume? Who are you to
determine that YOUR beliefs superceeded hers? Respect for the
individual should come first.
Anyone who is rational has a right to determine how they should be
treated. Who are you to violate her faith? If you forceably took her,
you could have been arrested for kidnapping.
(for background, I've had 10 yrs experience as an EMT.)
Ken
- -----------------
>From: Fred Schiff <f.schiff@ieee.org>
>Subject: Stock in CUST To My Mother?
>I have a bunch of stocks which my grandfather purchased for me when I
>one or so. They are still in "Cust" to my mother. How do I get them
>out of that?
Fred,
contact the stock transer agent for the company, or their investor
relations depart. With proper paperwork, you can probably have the
certificates transferred at no charge.
Ken
- --------------------------
>From: "Barry H. Rodin" <brodin@pica.army.mil>
>Subject: Sell Your Copy of Windows 95
>You might try to sell your copy of Windows 95 to someone else
>(who has an older computer that they want to update).
Barry,
most machines manufactured before Win95 aren't worth running Win95 on
them. You need too much memory and disk space than most older
machines have. At work, we are replacing ANY 486 machine when we move
up to Win95. Our minimum memory configuration is 32 meg. My Compaq
486-100 with 16MB is being retired.
>(Editor's Comment - I'm not sure if this is legal or possible.
>Microsoft installs a different version of Windows 95 in each computer
>brand. -IK)
Ira,
the Win95 CD that is included with each machine is Microsoft standard,
all of them are the same. Some machines might need special drivers,
but they aren't on the CD.
Ken
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End of persfin-digest V4 #41
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