April 27, 2024

Archives for September 2016

Your Money: A Quest to Gather All My Medical Records in 72 Hours

This is an exercise that most people could benefit from. So here are the steps I took and the obstacles I encountered along the way.

PEDIATRICIAN This was an excuse to catch up with Dr. Frederick M. Cahan, “Uncle Fred” to me as I was growing up. He’s a family friend and still plying his trade.

He’s also a self-described hoarder, but he did not have my records. Within minutes, however, he put his hands on those of my twin siblings, who were born in 1976. So if you’re 40 and under, you might call the medical professional who gave you your first talk about “funny” cigarettes.

INSURANCE The biggest mystery I hoped to solve was that of occasional (and still unexplained) elevated liver enzymes. The result showed up in a 2006 life insurance medical screening. At some point after that, I saw a specialist and had an ultrasound, which didn’t show anything alarming.

But who was the doctor? There was nothing in my filing cabinet at home, and my primary care physician had no record of referring me. I was pretty sure that Aetna was my insurance provider at the time. Could it send me copies of every explanation of benefit it had ever produced for me?

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The phone representative was encouraging, but first I had to sign a release. I had the choice of faxing it back or dropping it in the mail, and I chose fax. The reply would take weeks.

As soon as I started in with the various fax machines in my office, however, I knew I’d made a mistake. The first didn’t work. The second, a combination copier-fax-scanner, screeched a bit, at which point I remembered the stories I’d read about how they store images and leave users vulnerable to identity theft. That one didn’t seem to work either, so I moved to Machine 3.

The next day, a colleague approached my desk. She handed me 53 copies of the Aetna form, each of which had my Social Security number and date of birth on it. Machine 2 had belched them out, one by one, at some indeterminate point.

DATABASES I also hoped to figure out what drug I took in 2009 that did not agree with me. What was it again? At first, I couldn’t remember the name of the doctor who had prescribed it, so I checked in with two companies that provide reports on people’s prescription records. They sell access to life and other insurance companies, which ask applicants to grant them permission to do a sort of medical background check.

“Wouldn’t it be great if you could gather deeper insights into your applicant’s potential mortality risk?” the website of one of the services, ScriptCheck, cheerily asks insurance companies. It would also be great if consumers could see what ScriptCheck has on them, but the website doesn’t offer any information on how to do so. So here’s the phone number to request a free report: 844-225-8047.

I wasn’t able to get this one right away, but it turns out that I’m destined for disappointment. A spokeswoman for ScriptCheck’s owner, Quest Diagnostics, told me that the outgoing message on the above phone number’s voice mail asks for your insurance company’s name for a reason: ScriptCheck will give you only the prescription data that it gave the insurance company, going back seven years. So a request next week based on a 2013 insurance application will yield information from the application date and before. And my hunt for 2009 data based on my last life insurance application, which was in 2006, would yield nothing.

A ScriptCheck competitor, IntelliScript, moves more quickly and offers information for consumers on its website. Within 24 hours, I got an email response letting me know that the company had no information on me in its files.

According to the FAQ page on its website, no report exists until an insurance company asks for one. IntelliScript would not comment on why it had no information about me. It and ScriptCheck get their information from pharmacy benefit managers, who are legally allowed to pass it on.

I also requested my file from MIB, an organization of insurers, which may contain other data on my medical and insurance history. It, too, takes some time to arrive.

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MENTAL HEALTH Intensely curious about what, if anything, your therapist is scribbling down about you? Alas, the federal law that grants you the right to request your medical records specifically gives mental health practitioners permission to withhold their psychotherapy notes.

According to the American Psychological Association, some state regulations may make it easier to get these notes. If you don’t believe that any observations in the file could lead to a psychological setback, ask for the notes and see what happens, keeping in mind that some notes may have been early musings about diagnoses that did not turn out to be accurate.

DOCTORS My encounters with various physicians yielded mixed results, and it didn’t always depend on the age of the records. My primary care doctor was an early adopter of electronic medical records, and I was able to confirm via his website that my last liver test several years ago was normal.

For another physician, who I’ve seen intermittently for back trouble over the years and visited once in the last year, I had to make my records request via fax. The person answering the phone at his office would not let me make my request by email.

This year, I broke a bone in my arm, so I wanted a scan of the initial X-ray. I thought I could show up at the office and scan the image with my phone, but the rules there prevented it. Instead, I have to wait for a full copy of the X-ray, which I don’t actually want.

But at least it was available. No one gave me a hard time for merely making these requests, which is a good thing, since federal law generally requires health practitioners to hand over your records, though they are allowed to charge reasonable copying and mailing fees. Only one of my doctors charged me anything, but it can be costly for people with more extensive records.

My best luck came in the place where I had the lowest expectations. I knew I’d had a round of travel vaccinations in 2005, but I wasn’t sure where, and my filing cabinet turned up nothing but an incomplete vaccination record with no doctor’s name on it. I had a vague sense that the office was in Greenwich Village, so I made a list of travel medicine specialists near there and started dropping in on them.

One looked familiar, and after talking to three people in the office and waiting around for 10 minutes, one of them ushered me to her workstation. My name didn’t turn up in her initial search, but when I told her the approximate dates of the possible visits, she started pulling thumb drives out of the top of her desk drawer. Within a few minutes, she found my file and hit the print button.

Thanks to my hounding and her doggedness, I won’t repeat the hepatitis A vaccine for at least another decade. She was pleased, too. Had the office sent all the records away to a scanning service, I asked? No, she said, she had done it all herself.

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How long did that take? “Years,” she said. “Boxes and boxes and boxes.”

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Article source: http://www.nytimes.com/2016/10/01/your-money/a-quest-to-gather-all-my-medical-records-in-72-hours.html?partner=rss&emc=rss

Wealth Matters: How Rich Couples Who Aren’t Pitt and Jolie Manage Their Divorces

The difficult divorces, Ms. Chemtob said, are less straightforward. “When someone has $12 million but $6 million is in real estate and they have three kids in private school and one spouse isn’t working, that’s a headache,” she said.

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Before the divorce progresses into financial negotiations, advisers say the parties need to step back and consider what kind of divorce they want.

“They need to decide what’s important,” said Katherine Miller, a matrimonial lawyer in New York and New Rochelle who practices collaborative divorce, which is a heightened form of mediation. “Are they going to comport themselves with dignity? Do they want to co-parent their children? Is the concern with preserving your assets?”

The simplest divorces are the ones where money is involved but no children. Ms. Chemtob said she was working on one now where both people work at investment houses and earn plenty of money. It’s just a division of assets.

The degrees of messy divorces, at least when it comes to dividing up money, seem infinite.

Dana Katz is going through a divorce now. She said she helped her husband build his insurance business by making connections for him in their community on Long Island, N.Y. But now, she regrets not asking him to put her name on the business during their 17-year marriage.

While she is receiving money each month for her basic needs, she said it was not enough to preserve the lifestyle she had. “For the time being, my financial situation is precarious,” said Ms. Katz, who has two sons. “Our joint assets are joint and you can’t touch them. And our cash flow came from this business, so I don’t get that.”

For the most part, the idea of lifelong support — what used to be called alimony and is now called maintenance — is a thing of the past. And like many things with divorce, the family courts have instituted formulas to simplify and standardize the process.

The spouse with less typically receives support for a period of time equal to half the length of the marriage. The amount itself will be determined by looking at spending over some period of time and pulling out nonrecurring expenses, like remodeling a kitchen.

Where there is money from trusts, there could be an issue of calculating how much money the spouse benefiting from a trust was spending each year.

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“I tell people to go back and look at all the records,” Ms. Chemtob said. “How much were you spending? How much could you have been spending?”

One thing that cannot be counted on is the continued support of someone’s in-laws in divorce. They could, for instance, decide to stop paying for a grandchild’s private school.

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Michelle Smith, chief executive of Source Financial Advisors, says she tells couples: “I can’t do financial planning for you during your divorce that you never did during your marriage.” Credit Joshua Bright for The New York Times

But these discussions assume that there is money to negotiate over. Michelle Smith, a certified divorce financial analyst and the chief executive of Source Financial Advisors, said she had seen situations where a spouse recalls seeing a brokerage statement for $15 million. But it turns out there is $11 million of loans against that account and the house they live in is mortgaged to the hilt.

“It’s this onion that needs to be peeled back slowly,” she said. “I say to these people, ‘I can’t do financial planning for you during your divorce that you never did during your marriage.’”

When it comes to child support, states generally have formulas, too. In New York, for example, one child receives 17 percent of the salary of the parent who doesn’t have custody, two get 25 percent, three 29 percent — though wealthier couples can opt out and negotiate separately.

The trickier part is when it comes to private school. No judge is going to say private school is a requirement for a child, though there can be exceptions, for example, if the children have been in a school most of their lives and are close to finishing.

Even with the standardization of some aspects of divorce, the right strategy matters. Ms. Chemtob said she regularly looks for the most desirable place to file a divorce suit, a process known as forum shopping.

“Whether I have the in-the-money or the out-of-the-money spouse, I’ll decide which county to file in,” she said. “The Hamptons are horrible for the nonmoney spouse, so I’d file in New York City. If you’re seeking distributions of assets or distributions of a business, you want to be in New York City. You don’t want to be in Westchester.”

There are four options in a state like New York for the style of divorce: do-it-yourself, mediation (where the couple is alone with a mediator), collaboration (where a group of neutral parties help the process along) and traditional litigation that may end in court.

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Ms. Smith pointed to situations that may require a lawyer with particular expertise. If, for example, a wife helped her husband build the family business but did not go into office each day, she needs a lawyer who can get her the largest share of that business.

On the other hand, if a husband benefited throughout his marriage from a trust set up by his family, he will want a lawyer who can try to keep that money outside the divorce negotiations, while the wife will want one who can get that money considered.

“It’s a fact pattern,” Ms. Smith said. “You need to find the right strategists. You don’t want to spend $1 million on litigation and you don’t have the right strategy for your fact pattern.”

Ms. Katz said the worst part of her divorce, which has been going on for nine months, is the delays of a month or more between court dates. “You want to get on with your life,” she said. “You want to salvage something from the relationship.”

This type of uncertainty, Ms. Miller said, can make a collaborative divorce a better option for some people. It is like mediation, but instead of the two parties speaking with a mediator, there is a whole support system — like lawyers, financial advisers and child specialists — working toward a settlement.

She said the process works well for complicated assets because the assembled team can take the time to understand and value them. “We’re much more flexible in the collaborative process than the litigation process,” she said.

This process can be expensive, though less than going to court. A collaborative lawyer can cost $30,000 to $40,000 a person, as opposed to more than $100,000 for a divorce lawyer dealing with a similarly complicated case, Ms. Miller said.

Above all, advisers counsel people to remember that the process takes time and that it is unlike any other negotiation.

“Unlike other lawsuits, there is no clear bright line test of winning and losing,” Ms. Smith said. “You can’t handle your divorce like any other contract or movie negotiation. You can’t walk away from the mother or father of your children and say they’re not listening to me and leave the table.”

Correction: September 30, 2016

An earlier version of this article misspelled part of the name of a law firm. It is Chemtob Moss Forman, not Chemtob Moss and Forum.

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Article source: http://www.nytimes.com/2016/10/01/your-money/how-rich-couples-who-arent-pitt-and-jolie-manage-their-divorces.html?partner=rss&emc=rss

Feature: How Donald Trump Set Off a Civil War Within the Right-Wing Media

The hourlong conversation struck Erickson as pleasant but unmemorable. What did stick with him was their exchange as he was leaving Trump Tower. “Trump asked me if I played golf,” Erickson told me recently. “And I said, ‘Yeah, I’m terrible.’ ” Then, he said, Trump asked if he would be interested in coming to Trump’s golf-club in West Palm Beach, Fla., to play. “I’m very flattered — I’ve never been to West Palm Beach before,” Erickson recalled. “Several times, his office reached out. So finally I asked my wife, ‘What do you think this is about?’ She said, ‘He wants to own your soul.’ So I never went.”

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Erickson did not see much of a political future for Trump, but he imagined that he might be good for ticket sales, if nothing else, at the RedState Gathering. He informed Nunberg that Trump could have a slot on the convention’s second day.

The evening before he was to speak in Atlanta, Trump went on CNN and denounced the Fox News host Megyn Kelly for her sharp questioning of him during a recent debate, speculating that Kelly had “blood coming out of her wherever.” When Erickson saw the footage that evening, he called Trump’s campaign manager, Corey Lewandowski, and rescinded Trump’s invitation on the grounds that he would be too much of a distraction. “And that was that,” Erickson would later recall with a sheepish grin. “Until the next day, when he’s blowing me up.”

On Twitter, Trump called Erickson “a major sleaze and buffoon” and said that the “small crowds” at the gathering were due to his absence. Trump’s supporters soon piled on. This was to be expected, but what surprised Erickson were the attacks from people he regarded as his fellow bomb-throwers in the conservative revolution. On Twitter, the talk-radio host and Fox News commentator Laura Ingraham mocked “JebState.” The author and right-wing provocateur Ann Coulter brought up some of Erickson’s own crass utterances, like his characterization of the former Supreme Court justice David Souter in 2009 as a “goat-[expletive] child molester.” The next week, 30,000 readers of Erickson’s email newsletter canceled their subscriptions.

Erickson dug in, writing that Trump was “out of his depth” and lacking in “common decency.” But he was drowned out by Trump sympathizers with even bigger audiences than his own, like The Drudge Report and the online outlet Breitbart. It was one of the first salvos in what would open up in the year that followed into a civil war within the conservative media, dividing some of the loudest voices on the right. Days earlier, Erickson had unimpeachable credentials in the conservative movement. But by crossing Trump, he was now, in the eyes of his former allies, “a tool of the establishment.”

The conservative media has always been a playground for outsize personalities with even more outsize political ambitions. The National Review founder William F. Buckley fashioned much of the intellectual genetic code of the Reagan Revolution, while also writing fringe groups like the John Birch Society out of the conservative movement and, for good measure, running for mayor of New York against the liberal Republican John Lindsay. In 1996, the former Nixon media consultant Roger Ailes brought his attack-dog ethos to Rupert Murdoch’s Fox News channel and built the network into a transformational power in Republican politics before his fall this year amid accusations of sexual harassment.

But alongside the institution-builders like Buckley and Ailes, the conservative-media landscape has also produced a class of rowdy entrepreneurs who wield their influence in more personal, protean ways. The godfathers mostly came to power in the 1990s: Clinton-administration antagonists like Rush Limbaugh, who began broadcasting nationally in 1988 and became talk radio’s hegemonic power in the Clinton years, and Matt Drudge, who started his pioneering Drudge Report online in 1996.

If these figures defied the stuffy ceremony of the East Coast think tanks, opinion journals and bow-tied columnists who traditionally defined the conservative intelligentsia, they rarely challenged the ideological principles of conservatism as they had existed since the Reagan era: small government, low taxes, hawkish foreign policy and traditional social values. What they mostly did was provide the Republican Party with a set of exceptionally loud megaphones, which liberals have often envied and tried unsuccessfully to emulate. Conservative talk radio and Fox News now collectively reach an audience of as many as 50 million — most of them elderly white Republicans with a high likelihood of turning out in election years. And this isn’t even counting the like-minded online outlets that have flourished during the Obama years, thanks to a growing internet-media economy and a presidency, particularly in the case of the Affordable Care Act, that gave conservatives common cause.

Then came Trump. In a sense, the divide that he has opened up among conservative media figures is simply a function of the heartburn his ascent has caused among Republicans more generally, pitting voter against voter, congressman against congressman, Bob Dole against the Bushes. Some conservative media outlets threw themselves behind Trump from the beginning, explaining away his more radioactive statements and his uneven-at-best record as a conservative. Breitbart, whose former chairman, Steve Bannon, is now Trump’s chief strategist, was an ardent early supporter, breathlessly covering Trump’s ascent in the polls and his smackdowns of “low energy” Jeb Bush and “little Marco” Rubio. But as Trump expanded into more sacrosanct targets — Fox News’s Kelly, George W. Bush’s performance in the war on terror and Cruz — the dissenting chorus among conservatism’s dons grew louder. The Washington Post columnist Charles Krauthammer warned in December that Trump “has managed to steer the entire G.O.P. campaign into absurdities.” His Post colleague George Will predicted that a Trump nomination would mean the loss of conservatism “as a constant presence in U.S. politics.” The Weekly Standard editor William Kristol floated the idea of a new “non-Trump non-Clinton party.” And on the eve of the Iowa caucus, National Review devoted an entire issue to a single topic: “Against Trump.”

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Since Trump clinched the nomination, the dividing lines have become starker, the individual dilemmas more agonizing. Mark Levin, an influential talk-radio host, complains that among conservative commentators, Trump’s message is endlessly repeated by what he derisively refers to as “the Rockettes.” But Levin, too, recently announced to his listeners that he intends to vote for Trump, if only to prevent another Clinton presidency. As he put it to me, “I’m not going to be throwing confetti in the air if Trump wins,” adding that he viewed the candidate as “a liberal with some conservative viewpoints that he’s not terribly reliable at sticking to.”

Others — Sean Hannity, Ingraham, the former Reagan official and “The Book of Virtues” author William Bennett — have thrown in for Trump with a brio that strikes some in the business as unseemly. “Look, we’re in the opinion business, but there’s a distinction between that and being a Sean Hannity fanboy,” the Milwaukee-based talk-radio host Charlie Sykes told me. “It’s been genuinely stunning to watch how they’ve become tools of his campaign and rationalizing everything he’s done.”

“For 20 years I’ve been saying how it’s not true that talk radio is all about ratings and we don’t believe what we say,” he went on. “Then you watch how the media types rolled over for him. Obviously Donald Trump is very good for ratings, and at some point it’s hard not to conclude they decided the Trump train was the gravy train. I’ve been thoroughly disillusioned, and I’m not alone in that. It’s like watching ‘Invasion of the Body Snatchers’: Oh, my God, they got another one!”

When Trump declared his candidacy in June 2015, the part of his announcement speech that most clearly foreshadowed the campaign to come had to do with immigration. “When Mexico sends its people, they’re not sending their best,” he told the crowd at Trump Tower. “They’re sending people that have lots of problems, and they’re bringing those problems with us. They’re bringing drugs. They’re bringing crime. They’re rapists.”

The line struck Sykes as awfully familiar when he heard it. A month before, he had run a segment with Ann Coulter, who had just published her 11th book, an anti-immigration screed titled “¡Adios, America!” Sykes was well aware of Coulter’s views, but he was taken aback when she began a riff on Mexican rapists surging into the United States (a subject that takes up an entire chapter of “¡Adios, America!”). “I remember looking at my producer and going, ‘Wow, this is rather extraordinary,’ ” he told me. “When Trump used that line, I instantly recognized it as Ann Coulter’s.”

In fact, Corey Lewandowski had reached out to Coulter for advice in the run-up to Trump’s announcement speech. The address Trump delivered on June 16 bore no resemblance to his prepared text, which contained a mere two sentences about immigration. Instead, he ad-libbed what Coulter today calls “the Mexican rapist speech that won my heart.” When Trump’s remarks provoked fury, Lewandowski called Coulter for backup. Three days later, she went on HBO’s “Real Time With Bill Maher” and, amid shrieks of laughter from the audience, predicted that Trump was the Republican candidate most likely to win the presidency.

One evening this past March, Trump received Coulter at Mar-a-Lago, his estate-turned-club in Palm Beach. Though in recent years the two had developed a rapport on Twitter, she had met him face to face only once before he declared his candidacy, a lunch date at Trump Tower in 2011. Over lunch, Trump gave Coulter the impression that he had read her books. He also gave her a few items from his wife’s line of costume jewelry and told Coulter, who keeps a house in Palm Beach, that she was welcome to use the pool at Mar-a-Lago anytime.

The golf resort was the chief staging ground for Trump’s charm offensives against the conservative media. Many of its members have visited at Trump’s invitation in recent years, joining the resident Gatsby for steak and lobster on the patio, where Trump squints and appears to listen intently while his guests dispense political wisdom — though it is never clear whether he is actually interested in it, simply flattering his guests or sizing them up. When I dined with him on the patio this spring, Trump asked me eagerly about how I liked his odds in the election. Later, on the campaign trail, I watched him solicit the same counsel from random stragglers on the rope line.

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Coulter, at any rate, appeared immune to the whole routine. A week earlier, Trump bragged during a Republican presidential debate in Detroit that “there’s no problem” with the size of his penis. On the patio, Coulter told the candidate that no one wanted to hear about his endowment. She told Lewandowski that he should buy a dozen teleprompters and put them in every room of Trump’s house until he learned how to use them. Reminding Trump that she had been his earliest and most dedicated advocate, she told him: “I’m the only one losing money trying to put you in the White House. You’re going to listen to me.”

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Ann Coulter at the Metropolitan Republican Club in New York. Credit Gillian Laub for The New York Times

This appeal to the bottom line seemed to tweak Trump’s conscience. He gave Coulter an open invitation to Mar-a-Lago, waiving the $100,000 membership fee. The following evening at the next Republican debate, he exhibited considerably more restraint, for which Coulter, with characteristic modesty, claims credit. “Coulter delivers!” she told me.

Some of Trump’s supporters within the conservative media are attracted to his actual positions on issues. One is his trade policy, on which many media personalities on the right are considerably more populist and protectionist than Republican Party leaders and Chamber of Commerce boosters. Throughout Obama’s presidency, Laura Ingraham has warned of China’s predations: “The trade war is on, and we’re losing it,” she has often said. For others, Trump’s assurance that he will appoint Antonin Scalia-like conservatives to the Supreme Court is reason enough for their support.

But Trump also simply fulfills the ineffable urge many have to, as Michael Needham, the chief executive of the conservative policy group Heritage Action for America, puts it, “punch Washington in the face.” This is true for Coulter, who, in her newly published paean to the candidate, “In Trump We Trust,” writes that Trump is fit for the presidency not in spite of his crudeness but because of it: “Only someone who brags about his airline’s seatbelt buckles being made of solid gold would have the balls to do what Trump is doing.”

But what really sold Coulter on Trump, she told me, was his hard line on immigration. Coulter told me that she had never given the issue much thought during her childhood in New Canaan, Conn., and her student days at Cornell. Then in 1992, the British-American journalist Peter Brimelow wrote a 14,000-word essay for National Review titled “Time to Rethink Immigration?” which would later become a sort of ur-text for today’s alt-right, the ascendant white-nationalist movement that has found its champion in Trump. Brimelow cast the current wave of American immigrants in dismal terms: less skilled, less European, less assimilated, less law-abiding and less Republican than the previous newcomers. Coulter, who was 31 and a law clerk at the time, remembers reading it and thinking, “Oh, my gosh, I’ve been completely lied to!”

Twenty-four years later, Coulter helped formulate Trump’s immigration-policy position, which she hailed on Twitter as “the greatest political document since the Magna Carta.” (Her additional tweet on the subject — “I don’t care if @realDonaldTrump wants to perform abortions in the White House after this immigration policy paper” — prompted Mark Levin to tweet back, “These have to be among the most pathetic comments of anyone in a long time.”)

Coulter has not always gotten her way with the candidate. At Mar-a-Lago that evening in March, she lobbied unsuccessfully for him to pick as his running mate Kris Kobach, the secretary of state of Kansas, who is credited with selling Mitt Romney on “self-deportation.” And her book tour for “In Trump We Trust” hit a momentary snag when Trump told Sean Hannity that he would be open to “softening” his immigration stance, though Coulter chose to believe that, as she told me, “it was Hannity badgering him.”

Still, she has become the Trump campaign’s most unrepentant brawler. When Khzir Khan, the Pakistani-American father of a U.S. Army captain who was killed in combat in Iraq, spoke critically of Trump at the Democratic National Convention, Coulter wrote on Twitter: “You know what this convention really needed: An angry Muslim with a thick accent like Fareed Zacaria[sic].”

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That tweet provoked disgust from fellow conservatives, among them Erick Erickson, who tweeted: “What a terrible thing to say about a man whose son died for this country.” When I reminded Coulter of Erickson’s scolding, she let out a hearty laugh. “I always hated him,” she said. “This is one of the fantastic things. In any political movement, there are many people you think are losers and dorks, but your friends talk you into liking them, because they’re on our side. Now all of those people are out.”

Sighing, she said, “Trump has made my life better in so many ways.”

You will not find copies of “¡Adios, America!” or “In Trump We Trust” on any of the many bookshelves in the home of the Washington Post columnist George Will. A week after Ted Cruz dropped out of the Republican presidential race in early May, Will and his wife, Mari, a Republican political consultant, gave a catered dinner party for Cruz and his wife, Heidi. The other guests were conservative donors, activists and journalists, along with their spouses. The Wills have been hosting these off-the-record encounters with political celebrities at their Maryland home for decades. In early 2009, Will’s fellow conservative columnists gathered there to meet Obama a week before his inauguration.

Among the guests that evening in May was Laura Ingraham. Ingraham is of proudly working-class heritage — her mother was a waitress for almost 30 years and her father owned and operated a Coin-a-Matic carwash — and does not share Will’s reverence for decorum. She was an early defender of Trump’s willingness to say things “no one else is saying.” While interviewing Cruz on her radio show six weeks before the Wills’ party, she interrupted him to mock his Harvard Law degree. Still, Cruz knew that his political future relied on conservative opinion-makers like Ingraham, and it was at his request that the Wills included her in the party.

Over cocktails, the Cruzes spoke fondly of their experiences on the campaign trail, and the other guests listened politely, mindful of Cruz’s recent humiliating defeat. Then midway through dinner, at a table set with glasses once used by Abraham Lincoln, Ingraham insisted that Cruz needed to throw his weight behind the man who had branded him “Lyin’ Ted.” “If you don’t endorse him, where does that leave you?” she said. “You don’t have the public and you don’t have the establishment. How can you be a leader of the conservative movement?”

Cruz amiably replied that such a decision did not have to be made right away. Others at the table joined in to defend him, but Ingraham would hear nothing of it. “You can’t want Hillary Clinton elected,” she goaded him.

Will sat fuming silently. “She was quite animated,” he would later recall. Cruz refused to offer his support to Trump that night or in the weeks to follow. Speaking at the Republican convention on July 20 moments before Cruz was to do the same, Ingraham taunted him: “We should all, even all you boys with wounded feelings and bruised egos — and we love you, we love you — but you must honor the pledge to support Donald Trump now, tonight!” The following morning on her radio show, Ingraham declared that Cruz’s refusal to endorse had “effectively ended his political career.”

Will was no more persuaded by Ingraham than Cruz was. The first and only time Will met Trump was in March 1995, when, at Trump’s invitation, he gave a speech at Mar-a-Lago. Years later on Twitter, Trump would ascribe Will’s harsh view of him to Will’s having “totally bombed” with his performance that night. Will told me: “He started telling this story: ‘The reason Will doesn’t like me is I invited him to give a speech at Mar-a-Lago, and I knew it was going to be boring, so I waited out on the patio.’ Which raises two questions. First, if he knew it was going to be that boring, why did he invite me? And second, who would be the guy with the orange hair sitting in the front row?”

Will said on ABC’s “This Week” in 2012 that Trump was “a bloviating ignoramus” and he has spent much of the past year predicting the candidate’s imminent political demise. “I thought even an entertaining bore could be a bore after a while,” he told me. By late December of last year, however, his contempt had given way to alarm. “Conservatives’ highest priority,” he wrote in a Post column, “must be to prevent Trump from winning the Republican nomination” — even if it meant Hillary Clinton’s election.

Then on June 2, three weeks after his dinner party for Cruz, Will learned that his friend and fellow Republican Paul Ryan, the House speaker, had endorsed the nominee. Will considered the matter over martinis at home that evening. The next morning, he walked into his office and told his assistant: “Go change my registration. This is not my party anymore.”

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Recently I visited Will at his office, a three-story Georgetown brick rowhouse erected in 1811. Its walls are covered with framed photographs, several of them depicting the writer in his youth alongside Reagan and other titans of his former party. The dean of conservative pundits, now 75, wore a crisp pinstripe shirt and gray slacks, his customary owlish Mona Lisa expression a bit tighter than usual, owing to the subject matter. Will told me that he cast his first vote in 1964, for Barry Goldwater. He voted for the Republican candidate in every succeeding presidential election, until now.

“I don’t use the word ‘frightening’ often,” he told me. “But it’s frightening to know this person” — Trump — “would have the nuclear-launch codes. The world is getting really dangerous. His friend Mr. Putin is dismantling a nation in the center of Europe. Some trigger-happy captain of a Chinese boat with ship-to-ship missiles might make a mistake in the next three years near the Spratly Islands. All kinds of things can go wrong. And the idea that this guy will be asked to respond in a sober, firm way? My goodness.”

He seemed genuinely despondent. “Given that, could you see yourself urging your readers to vote for Hillary Clinton?” I asked.

Will’s lips pursed slightly. “Well,” he said, “it’s clear from everything I’ve written that I think she’d be a better president. That said, I’m not going to vote for her. First of all, I’m a Maryland voter. She couldn’t lose Maryland if she tried.”

“Then. …”

“I haven’t decided,” he said. “You can imagine — I get tons of emails: ‘I, too, have left the Republican Party. What should I do?’ Well, there are a number of legitimate options. Not voting is a legitimate expression of opinion.”

Ingraham and other conservative media personalities hailed Trump for having “tapped into” a shared and seething disquiet among predominantly white, non-college-educated voters. “What I don’t understand on the part of those being tapped into,” Will told me, “is: What exactly do they want? I can think of nothing the American people have wanted intensely and protractedly that they didn’t get. Took a while, but they got it.”

With a resigned half-smirk, he looked at the ground and intoned, in the manner of a hostage-video monologue: “It’s gonna be yuge. And it’s all gonna get fixed. And we’re all gonna be winners.”

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Erick Erickson in a studio at WSB in Atlanta. Credit Gillian Laub for The New York Times

“If he doesn’t build that wall, I’m pissed,” Sean Hannity told me, reflecting on the prospects of a Trump presidency in the office of his radio show in Midtown Manhattan. “If he doesn’t repeal Obamacare, I’m gonna be pissed. If he appoints a liberal jurist to the Supreme Court, I’m gonna lose my mind. And by the way: I’ll be screaming. Not talking — screaming about it. But in fairness, if Trump doesn’t keep his promises, you can also blame me, because I believed him.”

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Although Coulter was Trump’s earliest cheerleader among prominent conservative-media personalities, Hannity’s stake in the election perhaps runs deepest of all, if only because of the size of his audience. He hosts the second-highest-rated show (after Limbaugh) on talk radio and the third-highest-rated program (after Bill O’Reilly and Megyn Kelly) on cable news. More than 2.4 million weekly viewers and 13 million listeners have witnessed Hannity sticking his neck out on behalf of a first-time politician and sometime Republican who has voiced support for Planned Parenthood while vowing to limit America’s military footprint and shred trade deals that the G.O.P. has backed for decades.

Hannity’s critics on the right have accused him of essentially running hourlong daily Trump infomercials. When I asked him about this, Hannity responded with a well-rehearsed litany of sins perpetrated by the Republican establishment in concert with Obama: perilously low labor participation and homeownership rates, soaring national debt, Obamacare and so on. A Clinton presidency, he warned, would be “Obama on steroids.” These were his motivations. “My conscience is clear. And I feel like Donald Trump would be a great president.”

Hannity told me that he had in fact never stayed at a Trump hotel property, played on a Trump golf course or visited Mar-a-Lago. “I have my own place — on the other Florida coast, in Naples,” he said. “I don’t need his place. I always got the sense people were asking him for something. I don’t believe in asking for free stuff.”

Nonetheless, the two men have a mutual affinity that has spanned at least two decades. The MSNBC “Morning Joe” host and former Republican congressman Joe Scarborough theorized to me that their relationship has a psychological underpinning: “Donald Trump, Sean Hannity, Bill O’Reilly all share the same resentment that they will never be accepted into Manhattan’s polite society no matter what they do.” (Trump is from Queens; Hannity and O’Reilly are from Long Island.) Trump, in a recent phone conversation, offered me a somewhat simpler explanation: “Sean likes having me on his show, and that has to do with ratings more than anything else.”

No presidential candidate in history, Hannity told me, understands television better than Trump — “not even close.” On this score, I couldn’t disagree. One evening this past spring, on his plane after a campaign event in Buffalo, Trump told me that at rallies, he always made a point of finding the TV cameras at the back of the media pen and noticing whether a red light was flickering. “That means they’re airing it live,” he explained. “So I make sure to say something new” — by which he meant newsworthy, the better to own the next news cycle.

Trump was a TV star for more than a decade before he became a politician; he watches TV news incessantly and understands the medium intimately. He knows the optimal time slots on the morning shows. He stage-manages the on-set lighting. He is not only on speaking terms with every network chief executive but also knows their booking agents. He monitors the opinions of hosts and regular guests more avidly than most media critics do and works them obsessively, often directly.

Scarborough told me that Trump’s family — particularly Ivanka Trump’s husband, Jared Kushner — sometimes asked him for advice, and more than once “called me and asked me to get him off the ledge. I’ve said, ‘I can do that, but six hours later he’s going to revert to form.’ I told Jared at one point: ‘Jared, your father-in-law listens to me more when I’m attacking him on television than when I’m trying to convince him to be rational for the sake of the party.’ I think he’s a creature of TV.”

TV networks, in the mainstream as well as conservative media, have profited handsomely from Trump’s election-season theatrics, but some of their on-air personalities like Hannity are drawn to him for reasons apart from ratings. The prospect of getting in on the ground floor of a Trump administration that is short on policy ideas and disdainful of old Washington hands amounts to a once-in-a-lifetime opportunity. By employing the Breitbart publisher Steve Bannon, and by including both Ingraham and Roger Ailes in his debate preparations, Trump has implicitly encouraged the conservative media to consider itself part of the campaign team.

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I asked Hannity if it was true that, as a Trump confidant had told me, he wished to be considered as a potential Trump White House chief of staff. “That’s news to me,” he insisted, adding a politician’s practiced nondenial denial: “I have radio and TV contracts that I will honor through December 2020.” Nonetheless, Hannity’s service to the Trump campaign well exceeds that of ritually bashing Clinton and giving Trump free airtime. He has offered private strategic advice to the campaign. The same Trump confidant told me of at least one instance in which Hannity drafted an unsolicited memo outlining the message Trump should offer after the Orlando nightclub shooting in June. In public, Hannity has made it his mission to warn fellow conservatives — naming names, like the columnist Jonah Goldberg and the National Review editor in chief Rich Lowry — that if they do not soon climb aboard the Trump train they will, as the hashtag threatens, #OwnIt: Clinton’s picks for the Supreme Court, her response to the Islamic State, her trade deals, all of it.

Hannity maintains that his scolding of Trump’s conservative dissenters derives from his fear of a Clinton presidency. “It’d be pretty much over,” he said. Taken alone, George Will or even National Review might have little impact on Trump’s standing in the race, Hannity argued, but “cumulatively they do. I can look at the poll numbers. If you go back to a month ago, he was garnering 73 percent of the Republican vote. The most recent, I think he had 88 percent. He needs to get to 93.” And the key to the last 5 percent might very well lie with the noisy holdouts, like Erick Erickson.

On Sept. 16, Erickson showed up at the National Press Club in Washington to participate in a debate sponsored by the National Religious Broadcasters. Erickson left RedState at the end of last year to concentrate on his radio show and his online opinion journal, The Resurgent, but he has remained influential among conservatives who do not support Trump. In July, when he learned that Ted Cruz was about to have a private meeting with the nominee on the eve of the convention, Erickson texted the senator: “Don’t endorse! Don’t endorse!” Later that evening, Erickson says, Cruz texted back: “Didn’t endorse! Didn’t endorse!” (Cruz finally announced that he would vote for Trump on Sept. 23.)

The subject of the debate, inevitably, was Trump: specifically, whether evangelical Christians should support him. Being a lifelong evangelical himself, Erickson had some thoughts on the matter. Over the years, he had been condemned for his own offensive words, like the time he called the Texas gubernatorial candidate Wendy Davis “Abortion Barbie.” But he had recently apologized for many (though not all) of these statements and had called upon Trump to affect a similar posture of Christian humility. “1 Corinthians is very explicit,” he told me. “If someone holds one’s self out to be a Christian and doesn’t behave that way, Christians are supposed to judge him. This is a guy who’s bragged about his affairs.”

This was Erickson’s principal argument during the debate. Trump was not merely a sinner, he said, but a gleefully unrepentant one. Erickson’s debate opponent, the Christian talk-show host and fervent Trump supporter Janet Parshall, responded by reciting a litany of sinners in chief — from Thomas Jefferson with the out-of-wedlock child he fathered with a slave, to Warren G. Harding with his multiple liaisons, to Richard Nixon with his foul language memorialized on the White House tapes. “We are not electing a messiah,” Parshall said. “Last time I checked, he was appointed to office and he is not term-limited.”

Erickson’s debating partner, the conservative activist Bill Wichterman, argued that Trump appealed to the worst in America: His bullying, his lying and his bigotry were “corrosive to our national character.” Erickson could testify to this. At one point, he was receiving as many as 300 emails a day from Trump supporters. Some of them referred to him as a “cuck” or “cuck-servative.” The word — a masculinity-insulting derivative of “cuckold” — was new to Erickson, as were its originators in the white-nationalist alt-right.

More than one of the emails predicted that Erickson would be shot to death. At the local grocery store, a man walked up to Erickson’s two young children “and told them they needed to know their father was destroying this country by supporting Hillary Clinton,” Erickson told me. And one evening, two people showed up on the Ericksons’ doorstep to deliver a threat — Erickson would not tell me what it was — explicit enough that he later hired security guards. “I’ve never had Obama or Romney or McCain or Clinton supporters come to my home or send me nasty letters,” he said.

Did Trump beget all of this? If so, what begot Trump? Erickson argued that the fault lay with Beltway Republicans. “They’ve broken so many promises,” he said. “They promised to defund the president’s immigration plan. They promised to defund Obamacare. They promised to fight the president on raising the debt limit. At some point, the base of the party just wants to burn the house down and start over.”

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But even Erickson did not seem convinced that this alone explained what he saw as a nihilistic turn among Republican voters. “I do think there are a lot of people that have just concluded that this is it — that if we don’t get the election right, the country’s over,” he said. As to where they might have gotten that idea, Erickson knew the answer. It was the apocalyptic hymn sung by talk-radio hosts like his friend and mentor Rush Limbaugh, whose show Erickson once guest-hosted, though in the time of Trump, it seemed unlikely he would receive another invitation.

This February, Limbaugh, who has applauded Trump without endorsing him outright, posed to Erickson the question of whether a commentator should try to act as “the guardian of what it means to be a conservative.” In effect, the legend of talk radio was laying down an unwritten commandment of the trade, which applies as well to cable TV: Do not attempt to lead your following.

This was simple enough for an avowed Trump supporter like Ingraham. “Laura’s never missed an opportunity to build her career on the backs of others,” Erickson told me. He counted Hannity as another mentor and admired his entrepreneurial cunning, saying: “Sean reflects his audience. He’s not going to leave his audience.” On his own radio show, Erickson found that the more he denounced Trump, the more female listeners he picked up. But most of the 300,000 people who tuned in weekly during rush hour were men. While Erickson refused to abandon his principles, he did not wish to go broke, either.

On Sept. 20, Erickson wrote a long post for The Resurgent titled “Reconsidering My Opposition to Donald Trump.” He made no effort to disguise his moroseness. “I see the election of Hillary Clinton as the antithesis of all my values and ideas on what fosters sound civil society in this country,” he wrote, and described his manifold objections to her at great length. But, he went on, “I have to admit that while I may view Hillary Clinton’s campaign as anti-American, I view Donald Trump’s campaign as un-American. … While I see Clinton as having no virtue, I see Donald Trump corrupting the virtuous and fostering hatred, racism and dangerous strains of nationalism.” The election left him adrift. “I am without a candidate. I just cannot vote for either one.”

And so Erickson’s conscience led him back to where he was 13 months ago. Nowadays, he told me, he was doing all he could to avoid discussing Trump and the election altogether — a tall order for a talk-radio host. Responding to my look of bewilderment, he said, “Why dwell on the train wreck?”

Erickson believed he was not alone. “People know where we’re headed, don’t like where we’re headed and would rather talk about something else,” he said. Erickson had won many fights. This one was the biggest yet, and he had lost. There was nothing left to do but step back from his megaphone, dwell on happier matters and wait for the next righteous cause.

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Article source: http://www.nytimes.com/2016/10/02/magazine/how-donald-trump-set-off-a-civil-war-within-the-right-wing-media.html?partner=rss&emc=rss

Retiring: Honoring a Loved One With a Charitable Fund

“A general manager from the Met said, ‘You’ve got to do something to help other American opera singers,’” Mr. Tucker said.

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Spurred by that suggestion, he and his family started a foundation in his father’s honor, the Richard Tucker Music Foundation. Just weeks later, on Feb. 6, 1975, a concert was held at Carnegie Hall, with proceeds going to the Metropolitan Opera Fund.

While some people erect plaques, statues or buildings to remember a loved one who has died, others start foundations, scholarships or memorial funds.

While there is no minimum financial requirement to start a foundation, the process can be laborious. There are many costs and responsibilities associated with doing so. A board must be set up, regular filings are required and meetings must be held and minutes kept.

“It takes a great deal of time, effort, and thought to work through all the areas of law, finance, and management that need to be considered,” said Elizabeth Krempley, a spokeswoman for the Council on Foundations, a nonprofit association of grant-making foundations and corporations that also provides resources to help people set up charities.

There are other options that can make the process more cost-effective and easier to manage.

COLLECTING ONLINE Some families raise money on internet crowdfunding platforms like Deposit a Gift, CrowdRise or GoFundMe, which deduct a small fee from each campaign.

A day after Alice Flaherty retired in November 2012 from her nursing job at what was then Lakewood Hospital, in Ohio, she was told she had lung cancer. She died a little over a year later, at age 63.

“My wife made a request to our son and daughter: ‘Make sure the kids, the grandkids don’t forget about me,’” said her husband, Dan Flaherty, 68, a retired teacher.

In September 2014, he and his family enlisted local and corporate sponsors and established the Love a Nurse Run to honor Ms. Flaherty, an avid runner. The inaugural event, a five-kilometer run and a one-mile walk, attracted nearly 800 participants.

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Her family created the Alice Flaherty Excellence in Nursing Scholarship Fund with the help of an accountant but went to YouCaring to solicit donations. The site charges a 3 percent credit card processing fee and asks for a separate voluntary amount from donors after they contribute to a campaign.

The fund has awarded 84 scholarships worth over $76,000, and the third annual Love a Nurse Run is scheduled for Sunday.

OUTSOURCING MANAGEMENT Others want to collect money in memory of a loved one, but they eschew the management of the funds.

Scholarship America, a nonprofit group based in Minneapolis, will design and manage scholarship programs and memorial funds. Fees for managing the scholarships start at a couple of thousand dollars, depending on the level of complexity and customization of each program, said Mimi Daly Larson, the group’s senior vice president.

Another possibility is CharitySmith National Society of Memorial Funds. It charges a $700 start-up fee the first year, and a $516 annual maintenance fee. If the fund raises more than $12,000, there is a one-time fee of 4.3 percent of the amount raised.

Through CharitySmith, Veronica Wennekamp, a business analyst in Memphis, started Hallelujah Helen Memorial Fund, which provides summer camp scholarships to children ages 5 to 12 in the United States, in memory of her mother-in-law, Helen Wennekamp.

Meghan Fink and her three siblings did something similar, founding the Stephen E. Fink Memorial Fund in honor of their father, who died of amyloidosis in January 2010.

In addition to participating in blood drives and a bone marrow registry, they hold an event called the Thanksgiving Share a Meal, open to anyone in the Pasadena, Calif., area, at the restaurant their father started 21 years ago.

“To give back when you’ve lost so much is really the only way forward,” said Ashley Galleher, 28, the executive director of CharitySmith, which oversees more than 120 active funds. “The grieving process is way more of a burden to bear when you’re not giving back to other people.”

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Then there are those, like Katie Nicholson, who eventually feel confident enough to fly solo. Ms. Nicholson, 31, started the Zio Nick Memorial Fund on CharitySmith in memory of her father, Michael, who died of amyotrophic lateral sclerosis in October 2014. She is now obtaining her own nonprofit status, to ensure her organization is not subject to federal taxes. “Creating a nonprofit gives me the ability to fully align and set my own mission,” she said.

OUTSOURCING PAPERWORK Those who want to manage and collect money on their own can opt for a donor-advised fund, a charitable giving vehicle in which organizations like The Jewish Communal Fund or The New York Community Trust will file paperwork, direct the money to a chosen charity and simplify the process, for a fee.

“You can take a tax deduction right away,” said David Samuels, a New York lawyer who specializes in setting up and advising charitable organizations. “Then you can make requests to that charity as to where the money should go.”

KEEPING IT GOING In the years since its founding, Mr. Tucker’s foundation, which awards financial prizes to rising American opera stars, has raised millions of dollars, and its annual concert is scheduled for Oct. 30 at Carnegie Hall. It will feature artists including Anna Netrebko and Renée Fleming.

“You try to honor people when they’re alive, but sometimes it’s too late,” Mr. Tucker said. “But 41 years after my father died, I’ll sell out Carnegie Hall. These people never saw or heard my father live, but still, they’ll sing for us in his honor.”

His big worry is succession — he has no idea who will take over the foundation after he dies.

His brothers, children and grandchildren are all music lovers, but he has been the one most involved in the organization.

“I have the relationship with all the singers,” he said. “No singer in the world has ever said no to me, and they all sing for free.”

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Article source: http://www.nytimes.com/2016/10/01/your-money/retiring-foundation-family-money-charity.html?partner=rss&emc=rss

Dining In: Homemade Chili Gains Ground on Chili’s

“If I’m not mistaken, it’s the biggest gap we’ve seen in the last 10 years,” Mike Andres, the departing president of McDonald’s American business, told reporters in July. “This is clearly impacting the whole eating-out industry.”

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The gap between grocery and restaurant prices adds to a variety of other factors putting pressure on the restaurant business, especially the fast-food segment. Americans now have a greater interest in healthy foods. They also have more and better choices of prepared food in grocery stores, and many options for meal kit and grocery delivery services, all of which make eating at home easier.

It is unclear whether these changes add up to a temporary change or the start of a major reversal in where people eat. For the last couple of decades, the general direction of food spending in the United States has been toward restaurants, and in 2014, dining out eclipsed home cooking for the first time, according to the United States Agriculture Department.

“The reasons people are eating more away from home aren’t going away,” said Howard Elitzak, an agricultural economist at the U.S.D.A. “Women continue to enter the work force. People continue to work longer hours. Families have higher disposable income. Everyone wants convenience — these are very long-term trends.”

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John Reynolds says he has been cooking at home more and eating at restaurants less in the last year. Credit Caitlin Ochs for The New York Times

Yet the Agriculture Department statistics, and individual restaurant sales figures, strongly suggest that Americans are revisiting the kitchen table. In January, for instance, people spent more in supermarkets than in restaurants, an aberration that was repeated in June. (The department’s data from the Census Bureau is somewhat imprecise. For example, the supermarket numbers don’t include food bought at Walmart, America’s largest grocery chain.)

The National Restaurant Association estimates that restaurant sales will increase 5 percent this year, to $783 billion. But B. Hudson Riehle, a senior vice president of the trade group, noted that the growth rate of those sales has slowed since 2007, partly because of the recession that started around that time.

“It is still over all an environment where consumers continue to use restaurants, but for the industry, it’s a more moderate growth rate than in the past,” Mr. Riehle said.

To help compensate for sagging profits, many restaurants have been raising prices, even as the cost of food has declined. For instance, Zoe’s Kitchen, a Mediterranean-inspired chain of more than 150 stores, said its sales in restaurants open at least one year had grown 4 percent. But more than 3 percent of that gain came from price increases. Slightly less than 1 percent of its sales growth came from what the industry calls “traffic” — or more customers.

Diners have noticed. “I definitely feel like prices at restaurants have increased,” said Kathryn Shannon, who works at a financial services company in New York.

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Ms. Shannon, 28, began cooking at home with deliveries from Blue Apron, a meal kit service, but now she just goes to the grocery store. If she does go out for dinner, it is to a restaurant where she can get something she wouldn’t make at home.

“I’m not going to buy a really nice cut of steak because I’ll probably screw it up,” Ms. Shannon said. “But I can make basic Chinese food that’s just as good as what I get on the corner and at a quarter of the price.”

Some high-end restaurants, where people like Ms. Shannon might go for a steak, don’t appear to be having the same problem as their far bigger fast-food cousins. Sabato Sagaria, the chief restaurant officer at the Union Square Hospitality Group, said he had noticed more tourists dining this summer in the company’s restaurants, which include Gramercy Tavern and Blue Smoke in Manhattan.

He expected that mix to change in the fall, when the regulars return. Nonetheless, he said, competition for customers has never been greater.

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Mr. Reynolds with some turkey chili he made at his apartment in Queens. Credit Caitlin Ochs for The New York Times

“Restaurants are competing with delivery services, meal kit companies, prepared foods in the grocery store, salad bars,” he said.

Jack Bishop, chief creative officer at America’s Test Kitchen, a media company that publishes Cook’s Illustrated and produces TV shows and events, said he had also noticed a difference among generations. Younger people, in his experience, seem to be more suspicious of food prepared by big corporations. And the rise of diet trends like Paleo, vegetarian and gluten-free also is spurring more home cooking, he said, because adherents have difficulty finding something they can eat on many menus.

“There’s also just an overall shift in the American diet to a healthier place,” he said. “After all, most of the worst trends in that diet over the last 20 years coincided with people eating less at home.”

One big question, of course, is whether America’s new cooks will stay in the kitchen once food prices at the grocery store rise again.

Inara Kalnins, a retired retail executive, said she had no plans to return to restaurants. She began cooking for herself about a year ago, after finding a deal for Blue Apron meal kits on Groupon, the online commerce site.

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Before that, her stove was used to heat up leftovers from restaurants or a roast chicken from the grocery store. Now she’s in her kitchen three times a week, preparing meals from Blue Apron that she often shares with friends and neighbors.

“I’m chopping and zesting and eating foods I’ve never tried before,” she said, “with ingredients I would have never thought of buying, like Meyer lemons and watermelon radishes.”

When she vacationed with a friend on a remote island off the Maine coast this summer, the mail boat delivered Blue Apron meal kits.

“I’ve ordered so many times that I’m able to gift meal kits to friends,” Ms. Kalnins said. “I’ve given one to a friend whose wife passed away, and to my brother, who was used to eating out of a can.”

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Article source: http://www.nytimes.com/2016/10/01/business/dining-in-homemade-chili-gains-ground-on-chilis.html?partner=rss&emc=rss

How to Pick the Best Credit Card, Based on Rewards


Cash Back

Cash isn’t as exciting as a fantasy vacation, but for most people, it is the most lucrative choice.

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NerdWallet crunched the numbers on a variety of cards and found a break-even point: $8,600. That is how much the average cardholder would have to spend annually on travel to earn more with a rewards card than a cash-back card. There is one big exception: People who go overseas at least once a year generally fare better with cards that waive foreign transaction fees, a common feature of rewards cards oriented toward travelers.

A 2 percent return has become the gold standard for cash-back cards, but most cards with a rate that high come with a few caveats.

The Fidelity Rewards Visa Signature card requires the rebate to be deposited into a Fidelity account. Citi’s Double Cash card gives you 1 percent up front as you make purchases and the other 1 percent when you pay them off. Offerings from American Express, Chase and Discover have high cash-back rates limited to specific spending categories, like gas and groceries.

A new online comparison tool from Consumer Reports aims to help shoppers cut through the clutter. Plug in your monthly spending and it will cull through 55 cards to make a personalized recommendation.

“We haven’t worked through all the details yet,” said Michael Saccucci, the director of statistics for Consumer Reports, who tinkered for several years with an internal tool before releasing it to the public in June. “We’re trying to make it more consistent, and one of my goals for future versions is to add a two-card optimization.”

Sean McQuay, NerdWallet’s in-house credit card expert, wrote a column in December about his decision to ditch his rewards cards and shift his spending to cash-back options. With two young daughters, he travels less than he once did and spends more on household staples like groceries. He settled on two cards for everyday use: the Citi Double Cash and the Discover It card, which offers 5 percent cash back on a rotating set of bonus categories.

So, 10 months in, has he stuck with his cash card resolution?

“No,” he admitted, a bit sheepishly. He was wooed by the 100,000-point sign-up bonus dangled by the Chase Sapphire Reserve, the “it” card of the moment. His wife applied, and they are now using her card for many purchases.

“That bonus was too big to ignore,” Mr. McQuay said. “I don’t think it fits my long-term spending, but I think I’ll spend enough to justify the card for the first year.”

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Rewards Cards

There is a reason so many cards focus their rewards structure on travel. It’s aspirational — who doesn’t like to daydream about jetting off to the tropics? — and it’s cost-effective. Airline miles and similar benefits can be bought in bulk by card issuers for a fraction of their cash value.

But delving into the fine print of actually redeeming all those miles and points is a quick buzz-kill, which means that many accumulate and languish, unused.

Cards like Capital One’s Venture and Barclays’ Arrival Plus cater to those who hate complexity. They are travel cards that operate more like cash-back cards, letting customers use their points as a rebate against any travel expense.

The way to stretch the dollar value of your points and miles the farthest, though, is by jumping through the hoops and redeeming them for airline travel and hotel stays. For customers with a preferred airline or hotel chain, that brand’s credit card is still typically the best deal, but travelers who bounce around are fueling a growing market for flexible cards with transferable perks.

Most of those cards carry annual fees, but like the sticker price of a new car, the listed rates rarely reflect what customers actually pay. Chase’s new Sapphire Reserve nominally costs $450 a year, but it includes a $300 rebate on travel purchases, automatically applied on the card’s monthly statement. For most customers, that effectively reduces the annual fee to $150. Its direct rivals, the American Express Platinum and Citi Prestige cards, also rebate some charges.

Dedicated points ninjas tend to juggle multiple cards to squeeze out the maximum bonus on each. Mr. Saccucci of Consumer Reports said his analysis found that average card holders could increase the yield of their rewards programs by about 30 percent by strategically using two different cards.

Unless you walk around with Excel spreadsheets in your head, you will need help deciding which card to whip out at the cash register. Wallaby is an app that tracks your various cards and makes recommendations about the best one to use for a given purchase.

Once you have amassed a stash of points or miles, figuring out how to use them is the next puzzle. RewardStock, a start-up in Raleigh, N.C., recently released a Web app designed to find the optimal route, using miles, to the places you want to go. Tell it you want to fly from New York to Honolulu, and it will estimate your options: 40,000 mileage points round-trip on American Airlines, 45,000 on United or 55,000 on Delta.

The app is still a beta version, with some flaws, but Jonathan Hayes, the company’s founder, sees a big future in helping customers treat rewards points like the currency they have become.

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“When you buy stocks, you have a broker,” Mr. Hayes said. “People have a lot of points stored up in various programs, but they don’t know how to get real value out of them. There’s no system set up for this sector of personal finance. That’s the role we hope to fill.”

Low-Interest Cards

About 40 percent of American households carry credit card debt, according to the Federal Reserve’s latest consumer finances study. For those working to pay down their bills, low interest rates matter more than rewards.

Many cards offer zero-percent financing for a limited time. The Citi Simplicity card has one of the longest grace periods, 21 months, for purchases and balance transfers, but like most cards, it levies a fee on transfers. Switching over a $2,300 balance — the median amount owed by a household carrying a credit card balance, according to the Fed study — would cost $69.

Another option, the Chase Slate card, has no balance transfer fee for the first 60 days and a 15-month window for its zero-percent rate.

Pro Tips on Switching

Opening new credit card accounts does not, as many people fear, automatically sink your credit score. The credit check that lenders conduct does knock your score down a few points, but a bigger factor in your score is the percentage of available credit you are actually using. If you keep your spending steady, opening new cards — or raising the credit limit on your existing cards — lowers your utilization rate and generally lifts your score over time.

But if you decide to stop using an older card, it often pays off to keep it open. The age of your accounts factors into your credit score and closing older accounts takes a toll, especially if it reduces the total amount of untapped credit you have available.

If you want to drop a card with an annual fee without closing the account, ask if you can downgrade your card. Most fee-carrying cards have little-advertised sibling cards with fewer frills. Chase’s Sapphire cards can be traded in for a fee-free Chase Freedom card, and Capital One’s Venture Rewards, which costs $59 a year, can be swapped for a VentureOne card with a lower rewards rate and no fee.

And if you are trying to decide between similar cards — a common problem, since card issuers often clone their rivals’ most popular features — it’s worth digging into the fine print. Companies are increasingly offering extras like extended product warranties, travel insurance and enhanced rental car coverage.

“I don’t think they’ve figured out yet how to help people understand all of those options and benefits,” said Mr. Goldman of Bankrate. “It’s a more nuanced thing to market, but we’re going to keep seeing more of them, because there’s an upper limit on rewards and cash.”

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Article source: http://www.nytimes.com/2016/10/01/your-money/how-to-pick-the-best-credit-card-based-on-rewards.html?partner=rss&emc=rss

Your Money Adviser: Fannie Mae Is Now Getting More Detailed Information on Borrowers

BORROWERS seeking home loans should know that as of this week, many mortgage lenders will be scrutinizing more detailed credit data.

Fannie Mae, the government-controlled mortgage financing giant, has revised its risk-assessment software to include an expanded version of a borrower’s credit report. The reports now include more details about how the borrower has paid credit card bills over the previous two years.

Mindy Armstrong, Desktop Underwriter product manager in Fannie Mae’s single-family homes division, said the new information would give lenders a more nuanced understanding of how a borrower handles debt and whether they are likely to repay their mortgage. “It will help us better predict the risk of default on a loan,” she said.

Fannie Mae says its Desktop Underwriter software is used by about 2,000 lenders and more than 10,000 mortgage brokers. Fannie Mae currently backs more than a quarter of new home loans, said Guy Cecala, publisher of Inside Mortgage Finance.

Historically, credit reports used in mortgage lending included a borrower’s balance, how much of their available credit they use and whether monthly payments are made on time, Ms. Armstrong said.

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The new reports, however, include the actual amount paid each month, over a 24-month period. The lender can see if the borrower paid off a card balance in full each month, if they made just the minimum required payment and, if they paid more than the minimum, how much more.

“Essentially,” she said, “it will benefit those who make more than the minimum payment or pay in full.” That’s because those borrowers are deemed less risky.

But, Ms. Armstrong said, the new data was just one piece of information used to evaluate borrowers, along with other criteria like the borrower’s income and overall debt burden, and the size of the loan relative to the property’s value. “This is not the only thing we’re looking at,” she said.

Susan Chana, a spokeswoman for the credit bureau Equifax, said the extra information — “trended credit data,” in industry jargon — may help more borrowers who have middling credit scores but who have managed their credit card debt responsibly, qualify for home loans. Equifax, along with TransUnion, is providing the expanded credit data to Fannie Mae, which then combines it into a merged report.

The use of expanded credit reports, along with other updates Fannie Mae has made to its software, may help bring some flexibility to mortgage underwriting criteria, which have remained quite rigid since the financial crisis, Mr. Cecala said. “It could open the market up a bit,” he said.

But the changes could potentially harm borrowers who have been less diligent about paying down their card balances, said John Ulzheimer, a consumer credit expert.

Here are some questions and answers about the new mortgage credit reports:

When did the change take effect?

Fannie Mae made the changes on Sept. 24.

Does this mean I should always pay my credit card bill in full?

Even if you can’t always pay the balance in full, it’s always a good idea to make more than the minimum payment, to pay down your balance and save on interest charges. The addition of the extra payment information in credit reports used in many mortgage applications means that paying more than the minimum, if borrowers are able, makes even more sense, Ms. Armstrong said.

Will the extra payment details affect my credit score?

No, at least for now. The dominant consumer credit scores, like FICO, don’t yet factor in these extra details, Ms. Armstrong said. So while the new data may affect whether a borrower qualifies for a loan, it won’t have a big impact on the interest rate offered, she said, because loan pricing is determined mainly by your credit score. But, she said, it’s likely that credit scores will eventually be calculated using the expanded data.

Will Freddie Mac and others adopt this expanded criteria as well?

That remains to be seen, Mr. Cecala said. Freddie Mac, the other big government-controlled mortgage financing company, currently has no plans to use the expanded reports, a spokeswoman said. (Freddie backs about 18 percent of new mortgage loans, Mr. Cecala said.)

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Article source: http://www.nytimes.com/2016/10/01/your-money/credit-scores/fannie-mae-is-now-getting-more-detailed-information-on-borrowers.html?partner=rss&emc=rss

Economic View: Debate Night Message: The Markets Are Afraid of Donald Trump

During the debate, the overnight futures markets rallied, raising the value of broad stock market gauges like the Standard Poor’s 500-stock index by two-thirds to three-quarters of a percentage point. This was a consequential move, and because it was driven by the reduced chance of a Trump presidency, it reveals that the market believes that stocks would be worth more if he were to lose the election. Four pieces of evidence support this interpretation.

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First, the rally played out in virtual lock step with Mr. Trump’s debate performance. When Mrs. Clinton pummeled him over his tax returns, stocks rose. And this pattern of stocks rising in response to Mr. Trump’s miscues continued through the evening.

Second, the rally occurred between 9 and 11 p.m. on a Monday, typically a fairly tranquil time and, in this case, a stretch in which there was no other important economic or financial news. This suggests that the rally was not driven by other factors. Lisa Brown, principal at Gorgon Capital Research, said, “The only thing going on that would move markets in this time frame would be the debate.”

Third, the rise in stock prices was unusually large for that particular time period — larger than during the same window on all but one of the 200 previous Mondays. It appears to be a statistically significant move, not one caused by mere chance.

Finally, a particularly large rise in the value of the Mexican peso paralleled the rise in S.P. 500 stock futures. The peso move, which appears to be linked to the reduced likelihood of Mr. Trump’s being able to put into effect his immigration and trade proposals, also suggests that the financial markets’ reaction was a judgment that Mr. Trump lost the debate.

All told, it appears that Mr. Trump’s apparently declining political fortunes drove stocks higher. This implies that the market expects better times if Mrs. Clinton becomes president. If Mr. Trump stages a comeback in the next debates, expect stocks to fall sharply.

The Stock Market Rose During the Debate

Prediction markets suggest that Hillary Clinton’s odds of winning the election rose during the debate. The stock market rallied at the same time, rising by two-thirds to three-quarters of a percentage point. 

How much better would the market perform under a President Clinton than a President Trump?

Consider the rise in stock futures. At first blush, an increase of less than 1 percent doesn’t sound like much. But it points to something much bigger. After all, if a relatively small decline in the likelihood of a Trump presidency led to a modest stock rally, then a larger decline in Mr. Trump’s electoral fortunes would most likely lead to a larger market reaction. A surprise win for Mr. Trump would probably set off a substantial market correction.

We can be a bit more precise. According to political prediction markets, the odds of a Trump presidency fell by nearly six percentage points during the debate. By contrast, the difference between a certain Trump loss and a certain Trump win — by definition, a 100-percentage-point change in probability — is around 16 times as large as that six-percentage-point drop. It follows that the difference in the value of stocks under a President Clinton versus a President Trump is 16 times as large as Monday night’s stock market shift.

Putting the pieces together (multiplying that 16 by the percentage point rise in the S.P. 500 value), this suggests that the market expects stock prices to be 10 to 12 percent lower if Mr. Trump wins than they will be if he loses.

This is a big difference.

What does it all mean? When economists conduct “event studies” like this, they typically do so in the hope that movements in stock prices reflect the informed bets of traders trying to assess the future profitability of the businesses they’re buying or selling. If that’s right, then Wall Street is telling us that if Mr. Trump is elected, it expects the profitability of America’s largest businesses to be about 10 to 12 percent lower on average in the future.

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This is all the more remarkable because it occurs despite Mr. Trump’s having promised an enormous profit-raising corporate tax cut. Either the markets don’t believe he’ll deliver on these tax cuts, or they believe that the rest of his economic program will do enough harm to more than offset the benefits of lower taxes.

Unfortunately, an event study is silent as to what’s behind Wall Street’s fears. This sort of adverse market reaction might reflect concerns about Mr. Trump’s unconventional approach to the Federal Reserve, worries about a possible trade war, fiscal irresponsibility, apprehension about national security or simply the cost of greater uncertainty.

Assessing what this means for the broader economy requires a bit of guesswork. It all depends on the extent to which Wall Street’s worries are also worries for Main Street.

If the Trump stock discount reflects expectations of lower earnings and if the rest of the economy performs like publicly traded companies, the math suggests that overall national income would fall substantially, perhaps by as much as 10 to 12 percent over coming decades. If only big publicly traded companies were to suffer, the decline would be less; if the rest of the economy were more vulnerable, there would be a greater decline.

Some of the market’s aversion to Mr. Trump probably reflects the assessment that the world would simply be riskier under him. Traders are so unsure of what the future would hold that they’re reluctant to invest in stocks without a huge discount.

We can put this in historical perspective. In research with the economists Erik Snowberg of the University of British Columbia and Eric Zitzewitz of Dartmouth College, I’ve studied how the stock market responded in the days surrounding each presidential election back to 1880.

Typically, we found that no candidate moved the market by more than a couple of percentage points. Moreover, it was somewhat more common for the stock market to rise slightly on the election of a Republican than of a Democrat.

The 2016 pattern is an exception. The market prefers the Democrat and believes that Mr. Trump is a unique threat to prosperity. It appears to assess the consequences of a Trump victory as a bit worse than 9/11, and roughly comparable to the onset of the Iraq War.

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Article source: http://www.nytimes.com/2016/10/02/upshot/debate-night-message-the-markets-are-afraid-of-donald-trump.html?partner=rss&emc=rss

Russia limits state purchase of foreign electronic devices

© Vladimir FedorenkoFSB urges tighter punishment for using WhatsApp in state agencies

Government-backed companies will also be limited in buying LEDs, keyboards, monitors, TV, scanners and printers, TV cameras and camcorders, e-books, speakers and many other devices in the 100 point list.

The restriction will be applied only when there are two Russian or Eurasian Economic Union (EEU) producers in the bidding. The EEU is a trade bloc established in 2015 on the basis of the Customs Union of Russia, Kazakhstan and Belarus. It currently has five members: Russia, Armenia, Belarus, Kazakhstan, Kyrgyzstan, while Tajikistan is a prospective member. If there are two Russian/EEU participants in the bidding, a request to buy foreign products should be turned down.

An electronic device can be recognized as Russian, if it is produced as part of a contract between the producer and Russia or if the production is localized in the country.

The same rules were previously applied to software. Starting from the second half of the year, all state-backed companies must switch to locally produced software. If public authorities want to buy foreign software, they must first consult with a special registry and make sure that there are no similar Russian products. If there are Russian alternatives, authorities will have to explain why Russian software doesn’t suit their needs. There are also import restrictions in the defense industry, mechanical engineering, medical devices and other areas.

In a report, the Russian Federal Anti-Monopoly Service criticized the government’s decision to limit imports, saying it leads to higher prices without improving the quality of products. According to the competition regulator, import substitution should be reduced to defense, pharmaceuticals and food.

Article source: https://www.rt.com/business/361195-russian-government-foreign-cellphones-procurement/?utm_source=rss&utm_medium=rss&utm_campaign=RSS

Xi factor: When Xi Jinping tries product, Chinese sales soar

© Wang ZhaoPutin’s gift to Xi causes Russian ice cream craze in China

The most recent evidence was shortly after the G20 summit in Hangzhou earlier this month. Sales of Russian ice cream in China soared after President Putin brought some as a gift for Xi.

“Throughout history Chinese people have looked up to their great leaders, and that’s how it is with Xi, especially among young people,” said a 63-year old Beijinger Wu Ge, as quoted by Bloomberg, stressing that the nation tended to follow the trend jumping on the bandwagon.

Last year, Xi’s visited a British pub with former Prime Minister David Cameron which sparked a flood of beer sales in China. A Beijing-based importer of British beer planned to increase imports of Greene King IPA from 6,000 bottles a month to 80,000, reported Xinhua News Agency.

The Xi effect has also had a significant impact on outbound tourism. Chinese travelers rushed to New Zealand two years ago after the president’s official visit to Auckland. Tourism from China surged over 34 percent last year to nearly 356,000, bolstered by a popular Chinese reality show featuring New Zealand.

“Both events resulted in a significant spike in online searches for keywords such as “New Zealand,” “New Zealand tourism” and “New Zealand visa” as eager Chinese rushed online to learn more,” said Zhu Shing, an analyst at Auckland-based Milford Asset Management.

Firsthand knowledge of the Xi phenomenon was tested at the Qingfeng restaurant in western Beijing shortly after the Chinese president dropped in. Xi ordered six pork buns, a dish of fried pig liver and a vegetable dish. More than three years after the visit, business there is still prospering.

Article source: https://www.rt.com/business/361193-xi-jinping-buys-sales-spike/?utm_source=rss&utm_medium=rss&utm_campaign=RSS