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The Consumer Memo, 11/3: Amazon extends Internet price war on books

Book buyers love itBook buyers love itThe book price wars are no longer just for pre-orders.

Amazon.com was offering hardcovers of John Grisham’s “Ford County” and Barbara Kingsolver’s “The Lacuna” for just $9 on Tuesday, the official release date for both books. Hardcovers generally have a list price of $24 or higher.

In mid-October, Walmart.com announced dramatic discounts for pre-orders of “Ford County,” Sarah Palin’s “Going Rogue” and other popular November publications. Wal-Mart.com initially charged $9 for the books, a price quickly matched by Amazon.com, then dropped to $8.98 by Wal-Mart.com.

Authors, publishers and rival booksellers worry that cutting the price so low will harm competition and force down the cost of books overall, leading to a reduction in author advances.

On Tuesday, Walmart.com was selling “Ford County” for $12 and “The Lacuna” for $13.50. Another price cutter, Target.com, was selling “Ford County” for $15 and “The Lacuna” for $18.89.

Honda adds Crosstour Wagon

Honda Motor Co., whose U.S. sales fell 25 percent in the first nine months, is introducing the 2010 Accord Crosstour wagon as U.S. consumers opt for smaller, more fuel efficient vehicles.

The five-door vehicle may generate 40,000 added sales for Honda in its first 12 months, said Lee DaSilva, senior U.S. product planner The Crosstour, built at Honda’s East Liberty, Ohio, plant, goes on sale Nov. 20.

Honda plans to add three wagons as U.S. consumers shun large sport-utility vehicles and trucks on job concerns and rising oil prices. Automakers are also adding new vehicles in anticipation of a rebound in demand next year as the economy improves.

Crosstour prices range from $29,670 for a base EX model to $36,220 for the four-wheel-drive EX-L version, he said.

Best Buy to open movie store

Best Buy Co. will start an online store for movies and television shows that will compete with Apple Inc.’s iTunes.

The service will use technology licensed from Sonic Solutions Inc., according to a statement today from both companies. Sonic’s Roxio CinemaNow system will be installed on televisions, computers, Blu-ray players, set-top boxes and mobile phones sold by Best Buy.

Savings Bond rates
Still a safe betStill a safe betThe Treasury announced that inflation-protected Savings Bonds bought from November through April 2010 will earn a rate of 3.36 percent. The rate is made up of a fixed rate of 0.3 percent, which stays unchanged through the life of the bond, and the annualized inflation rate from March through September. Series EE Bonds, bought from November through April, will have a fixed rate of 1.2 percent.

Pump prices
The average U.S. pump price for regular gasoline rose 2 cents to $2.694 a gallon in the week ended Monday, a government report showed.

Microsoft cuts business e-mail price
Microsoft willcut the price it charges customers to store and run their e-mail systemss, a bid to keep Google from making inroads in this market. Microsoft will now charge $10 a month per user for its Business Productivity Online Suite, down from $15.

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Submitted by Steve Rosen on November 3, 2009 - 12:44pm.
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4/9/09

Question:

BRB asks

Who do I talk to for financial advice that does not involve them trying to sell me something? We are 60 and 59, have a 200,000 annuity, are 60-70,000 credit card debt, have a house that is half paid for,own a condo in fl that is not paying for itself, have a good credit rating, not behind on anything, not facing foreclosure, wife on disability, husband still working, Want to pay off credit cards, but don't know how. Should we use part of annuity? I just want to know who to ask for help. Thanks

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It looks like you would be well served by a comprehensive financial plan which would address your concerns and give you a clear picture of where you are at financially. Financial advisors are paid in two different ways. Some receive commissions for the products they sell you. There are also fee only financial planners who work for you for a set fee and sell no products. In their case you know exactly how much it will cost you up front. It would also be preferable to use a financial planner who is a Certified Financial Planner.

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