Slash Cost Of Debts...For Now

Would a 1.9% interest rate on your overdraft or personal loan be a better rate than you’re paying now? It almost certainly would, in which case you should take a look at the new platinum credit card launched by MBNA. It allows you to switch non-card-debt on to the card at an introductory rate of 1.9% for the first 12 months. This seems like an excellent opportunity to reduce high cost personal loans and overdrafts. – or even get rid of them altogether.

Needless to say, this isn’t a miracle ‘cure’ though. After a year the rate reverts back to 16.9%. So to really benefit, you need to be in a position to pay off the balance at the end of the promotional period. But for many people, it may offer a short term breathing space to get their finances back on track.

A Million On Ebay

Following on from yesterdays story about the huge potential of selling on line, comes news of Anthony Ponsford, a former city lawyer who quit his job and expects to turnover £1 Million on eBay this year. After turning over just £39,000 in 2007, sales rose to £820,000 last year for his business Piranha Trading, which sells everything from memory cards to cat scratching posts. He business has actually boomed during the recession as canny online shoppers seek out big bargains.

Ebay is a business where the barriers to entry are practically zero. If you’re not giving it a go at least on a part time basis – why the heck not?

Clarity Commerce Solutions On The Up?

Clarity Commerce Solutions’ shares were originally tipped by Tom Winnifrith in February when they were at 31p. With the shares now at 35.5p, members who invested are now standing on gains of 14 per cent in just six months. But, with an impressive set of full year results published in June, Tom believes this stock is still undervalued and is a buy at up to 42p.

“AIM-listed Clarity Commerce Solutions was a loss-making basket case as recently as 2007. However, a top-notch management team has moved in and turned the company around. It is now cash generative and growing earnings fast. And a dividend may not be too far away.”

“Boosted by the recent acquisition of IT service desk, Cyntergy, Clarity's house broker reckons it will be making £4.1 million of pre-tax profit by 2013 - representing a more than doubling of earnings in just three years. I believe that this is achievable given the company's strong cash backing, recent evidence of the ability to win multi-million pound deals and the capable management team. With the shares now at 35.5p, capitalising the company at £14.4 million, they continue to look cheap. At up to 42p, my stance remains ‘buy’.”

I'm The Boss

The boss was complaining in our staff meeting the other day that he wasn't getting any respect. The next day, he brought a small sign that read:

"I'm the Boss!"

He then taped it to his office door.

Later that day when he returned from lunch, he found that someone had taped a

note to the sign that said:

"Your wife called, she wants her sign back!"