Word: price
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...think that one of the fundamental principles of managing money wisely would be to not pay a lot for things you could get cheaper elsewhere. But, according to Worth, you'd be wrong. The personal-finance magazine is raising its newsstand cover price in May to $20. That is, unless you're on Worth's special list of 110,000 extremely wealthy people, in which case you get the magazine for free. (How does that song go? "The rich get richer and the poor get Kiplinger...
...Worth had to do something. When founder Randy Jones sold his share of it in 2003, its circulation was 500,000. It finished last year with about 50,000. The subscription rate listed on its website is $36. (Subscribe now and save $84 on the cover price!) And only 3% of its copies were newsstand sales, so it's not like that was a big business anyway. Sandow Media Corp., which bought Worth last year, also publishes Luxe (high-end design), True Beauty (high-end cosmetics) and Watch Journal (high-end wristwear). So the company probably feels...
...course, Jones acknowledges, there will be pressure to provide a product worth the cover price. The publication is being redesigned and will have heavier paper with more photography and so forth, but it has not announced plans for an investigative team intent on ferreting out the next Madoff. It has, however, hired an information-services company, Paladin Registry, to ensure that the financial advisers who advertise in the magazine are top-notch. One story we know will be in Worth's maiden $20 issue: an excerpt of Jones' $26 book...
...would buy Sir Liam Donaldson a pint these days? Not many Brits, I expect. The chief medical officer's proposal to tackle the great British scourge of binge drinking - a minimum price of 75 cents per unit of alcohol - was shot down by almost everyone from 10 Downing Street to the bloke propping up the bar at the Slug and Lettuce...
Tomorrow, Dunkin Donuts will have "Iced Coffee Day," where you can get a 16 oz iced coffee for only $0.50. And you can feel good about your purchase because "10% of the purchase price" benefits Homes for Our Troops, an organization that builds handicap accessible homes for severely wounded veterans. Wait, that's only $0.05...okay, so don't feel too good about your generous philanthropy...