Holiday poll: To Black Friday and beyond

Three percent of consumers have finished their holiday shopping. Then there's the rest of us. For whatever reason, about two-thirds of consumers hadn't made any holiday purchases by early November. So after the turkey comes the annual trot to the mall.

Black Friday and Cyber Monday will bookend a busy shopping weekend with half of all U.S. adults planning to shop in stores or online in the four days following Thanksgiving, according to a nationally representative holiday shopping poll from the Consumer Reports National Research Center.

The day of Black Friday has traditionally marked the start of the holiday shopping season, but just as many consumers plan to shop on Saturday or Sunday. So-called Cyber Monday promises to be a bit quieter—nearly twice as many adults plan to shop in stores on Black Friday (28 percent) as shop online the following Monday (16 percent).

While most shoppers (47 percent) plan to make gift purchases over the long weekend, a third of those asked will be looking for things for themselves. So what is on their lists? The top gift items that shoppers plan to buy are clothing (56 percent), electronics (55 percent), toys (55 percent) and gift cards (46 percent). Tops on the "me" list are electronics (39 percent), clothing (33 percent) and food or wine (32 percent).

Tuning into TV sales
Flat screen TVs continue to be a hot holiday item with one in five adults saying they plan to buy a set during or after the holidays. Interestingly, more respondents plan to make their purchases after the holidays (15 percent) than during (9 percent). Some of those shoppers may be looking ahead to the Super Bowl—31 percent of those planning a TV purchase want a new set to watch major sporting events. Other reasons were better picture quality (77 percent), takes less space (71 percent) and replacing an older non-flat screen (70 percent).

Many TV shoppers also plan to take a look at financing options. A third of those planning a flat-screen purchase plan to take advantage of zero or low interest financing from retailers. Our first holiday poll should serve as a cautionary tale for those shoppers—six percent or 13.5 million consumers are still carrying debt from the last holiday season.

Deal or no deal?
As we've been noting on this blog, retailers have been offering deals both online and in the stores since well before Black Friday. And the lure of an in-store Black Friday deal may have lost a bit of its luster of late. The number of shoppers busting down the doors has declined steadily over the past three years—30 percent of respondents planned to shop on Black Friday 2006 but only 25 percent planned to do so this year.

Shoppers are growing more comfortable shopping online and 49 percent plan to do so this season—up from 44 percent last year. Not only did those consumers cite the convenience of online shopping but two-thirds said they expect to find deals just as good or better online as they do in stores. And without maneuvering for a parking space!

One downward trend that employers will like is that the percentage of full-time employees who plan to do their online shopping from work has dropped from 27 percent last year to 17 percent this year.

Here are some other things shoppers are saying:

The gift of time
Consumers plan to spend, on average, 13 hours shopping for gifts this year, that's two hours more than last year. Add to that the more than two hours that they plan to spend wrapping their gifts. (Women predict it will take them three.)

Who's shopping
Married women remain the primary gift shoppers. More than three-quarters or 78 percent did the lion's share of the gift buying for their household last year and four in 10 did it all.

Surprise!
Given the finding that many people are shopping for themselves, it seems a bit ironic that 75 percent of adults said that they preferred to be surprised by their holiday presents.

We'll continue to watch holiday shopping trends until the confetti flies in 2010. Check back for daily posts from Tightwad Tod and our other money experts.

Methodology: The Consumer Reports National Research Center conducted a telephone survey of a nationally representative probability sample of telephone households.  1,001 interviews were completed among adults aged 18+.  Interviewing took place over November 5 – 8, 2009.  The margin of error is +/- 3.2% points at a 95% confidence level.

Holiday tipping advice for 2009

In what's becoming an annual tradition around here, we've posted our holiday tipping advice for 2009, based on surveys conducted by the Consumer Reports National Research Center. 

Alas, for those on the receiving end, it looks like tips may be a bit smaller this year. 

For tip givers who feel a need to cut back, one way to sweeten your generosity is to tip a little earlier in the season. Your recipients may appreciate it — they probably have people to tip, too.

Some other no-extra-cost tips:

• Crisp new bills from the bank will seem more special than wrinkly old ones out of your wallet.
• A handwritten note is nice too.
• And if possible, try to deliver your tip in person.

If you have ideas to share, either as a tip giver or recipient, we'd welcome your comments.

A reminder of gift-card gotchas

Every year at this time, gift cards become a hot topic, and we’ve written more than our share on the subject, explaining the various tricks and traps. 

Nevertheless, gift cards remain one of the most popular gifts to give and to get, though last holiday season marked the first time in four years Americans actually reported receiving fewer cards, according to our latest Consumer Reports holiday shopping poll. Moreover, one of four gift-card recipients have yet to redeem a card they received in 2008.

Bankrate.com, a personal finance Web site, just released a new study comparing the terms and fees associated with 29 different gift-card issuers. Bankrate’s findings are a clear reminder that all cards aren’t created equal. You can read the entire report by clicking here. In short:

• If you don’t spend the card after the first 12 months, you could be hit with unexpected fees. In September, American Express announced it would no longer charge a $2 monthly service fee after 12 months -- and that change is retroactive to old cards, too. However, Bankrate’s study found that Discover, MasterCard, and Visa still tack on a $2.50 monthly maintenance fee after 12 consecutive months of inactivity.

• Store gift cards are free, others aren’t. There’s typically no charge to purchase a gift card from your favorite merchant. But if you choose to buy the gift card online instead of at the store, you could be hit with a handling fee. At Starbucks, for example, the fee is $1.50. Credit-card issuers, by contrast, always charge a purchase fee, typically $3.95, though it can vary depending on the card’s value.

• Pay attention to the "valid-thru" date. It’s something you’ll find on cards issued by credit card companies. While technically not an expiration date, it reflects the estimated lifespan of the card’s magnetic stripe. Shelf life for the stripe is about five years, and if you have a card with a past-due valid-thru date, contact the company for a replacement card.

• When buying a gift card from an individual merchant, be sure to ask if the card is valid for online use. While it’s not an issue for most retailers, some companies such as CVS, T.J. Maxx, and Marshall's do not allow their gift cards to be used online, Bankrate says.

• The federal Credit CARD Act pertaining to gift cards takes effect on Feb. 22, and the regulations require that the cards remain valid for at least 5 years, unless that information is clearly disclosed on the card. Dormancy, or inactivity, fees will still be allowed after 12 consecutive months of inactivity.

 Postscript: Don’t throw away those old gift cards

Speaking of gift cards, here’s a lesson in how persistence can pay off handsomely. On a recent shopping trip to a Bloomingdale’s in New Jersey, my colleague Donna Tapellini presented the cashier with three $50 store gift cards, two of which had expired, according to the saleswoman. Tapellini was annoyed and prepared to walk away, but her partner, Corey Glaser, who’s doesn’t easily take no for an answer, wasn’t about to give up.

“Isn’t there something we could do?” Glaser asked the clerk, emphasizing the fact that the couple had just given the store plenty of business.

The clerk, clearly peeved and dismissive, suggested Glaser and Tapellini call the phone number on the back of the cards, though she didn’t hold out much hope. They called anyway.

After entering the serial number for the first card, the automated robot voice on the other end confirmed the fact the card was expired, but then instructed them to “press one.”  Upon doing so, the voice said, “Your card has been activated.” The same thing happened with the second card. By investing a couple of minutes, they found $100. Not bad.

Walmart's return policy goes underground?

When we recently blogged about Target’s decision to expand its return policy, we chided the retailer for not providing complete details, either online or in its stores. (Customers now can make up to $70 in non-receipt returns in a 12-month period, and the retailer allows for even exchanges without a receipt).

We suggested that Target compare its disclosure with Walmart, which we said is much more open about its policy, which is friendlier than Target’s

One reader responded by saying that the Walmart disclosure we pointed to online was nowhere to be found. So we went back and looked again.

It turns out that the Web page describing  Walmart's consumer-friendly in-store return policy still is available . The problem is that, unless you know the exact URL, there no longer seems to be any way to find the page. Now when we click on the “Returns Policy” link, we find no mention of Walmart’s policy for non-receipt returns for purchases either online or in its stores.

A representative in Walmart’s communications department told us that the returns policy page had been rewritten to make the policy less confusing.

Well, we weren’t confused before. But we are now.

The representative promised to check into whether Walmart could restore the link to the page that fully describes its liberal returns policy, which she assured us is still in effect. After weeks of not hearing back, we called again last week and were assured by yet another communications representative that the retailer would get back to us. So far, no word. So we’ve decided to give up on waiting for the Walmart’s non-communications staff to get back to us.

All we can say is it looks like Target isn’t the only store keeping a secret. (If we do ever hear back from Walmart, we’ll post its response.)—Anthony Giorgianni 

Volunteer for AARP's Tax-Aide to help others and yourself

If you'd like to learn more about preparing your own taxes while also helping someone else, consider volunteering for AARP's Tax-Aide program, which begins training sessions soon. Tax-Aide employs volunteers to help prepare returns for low- and moderate-income individuals, with a focus on those 60 and older. You don't have to have a financial background, but you must attend a  3- to 5-day course, and to devote at least four hours a week between February 1 and April 15 to helping people face-to-face with their taxes. The jobs vary, from technology coordinators to "greeters" who direct taxpayers to the proper preparer, among other duties. AARP provides training in tax law procedures, preparing tax forms, and using tax preparation software. 

The application deadline for 2010 volunteers is December 11, 2009. Here are some details from AARP, including an application form. For more on doing your taxes yourself, consult Consumer Reports Money Adviser, and check back on this blog in early February, when tax season begins.–Tobie Stanger

A short list of weekend shopping deals

As we’ve been reporting, retailers aren’t withholding all of their best deals for Black Friday. We scoured various store flyers to check out the latest round of sales on tap for this weekend, and there’s no shortage of bargains. Here’s a smattering of the sales at some big chains:

Sears – Doorbusters 7 a.m. to noon today. Twenty-percent off all Kenmore appliances, 10 percent off all other brands.

Kmart – This weekend’s Better-Than-Black-Friday Sale features a 40 percent discount on outerwear for women and children, as well as sales on electronics like GPS navigators. We found a Garmin Nuvi 205 for $120, a solid buy. Click here to see our latest GPS Ratings.

Bloomingdale’s – Twenty-percent off almost all regular- and sale-priced merchandise for women, men, kids, and home, and 10 percent off of small appliances and men’s electronics.

JR.com – The electronics retailer/e-tailer is featuring special pricing on select digital picture frames, notebook computers, camcorders, digital cameras, and the like this weekend. The deals were pretty good from this well-regarded chain. (For our recent Ratings of electronics chains, click here.) Pricing for the Casio EX-H10 Exilim 12-megapixel digital camera, was $230, well below the prices we found when we tested it.

Kohls – From midnight today (EST) through 4 p.m., online shoppers can save 50 to 60 percent on selected shoes and boots and 50 percent off of the chain’s Apt 9 sportswear line for women. The same deals are available in stores at 6 a.m. to 1 p.m. (local time). Shoppers will also get $10 worth of “Kohl’s cash” for every $50 spent through Sunday.

CompUSA – This weekend’s Early Black Friday deals include a Garmin Nuvi 255W for $150 (we found similar prices from other online merchants), Toshiba 32-in. 720p LCD HD television for $329 (a good price), and the CR-tested Samsung 40-in. LED 120HZ HDTV. At $1,500 the price is at the high end of the range, but drops by to an impressive $1,199 thanks to a special e-mail promo code included in the ad.

Land’s End – Through Nov. 16, the chain is running a family-and-friends event offering 25 percent off regular-priced merchandise along with free shipping.

Toys “R” Us – On Saturday, take an additional 25 percent off any bicycle purchase with online coupon.

Medicare Part D participants: For 2010, you better shop around

Medicare has announced its Part D drug plan costs for 2010. More seniors than ever will be combing through that data to try and find a better deal. Sixteen percent say they are likely to, or are considering, switching plans in 2010, according to a recent survey of seniors by Allsup, a provider of Social Security disability, Medicare and workers' compensation services. That’s a big jump; only five percent have switched since they’ve been eligible for the program.

However, figuring out which program is best for you can be a pain. You may have dozens of private plans to choose from, with different levels of coverage.

But staying put can cost you plenty, in terms of both access to the medicines you take and the amount of money you will spend. Consumers Union has been monitoring the total cost of buying five common drugs in five states since the Part D program began in 2006. Next year Illinois residents, for example, may be able to save more than $2,200 year if they switch to a better plan. Stay stuck in the wrong one, however, and your costs may rise by more than $1,500.

Open enrollment starts November 15 and runs through the end of the year. You can find out how to switch plans (or enroll) by going to the Centers for Medicare and Medicaid Services Web site.–Mandy Walker

How to avoid debit-card overdraft fees ahead of Fed's new rules

Under new rules announced Thursday by the Federal Reserve, banks will no longer be allowed to automatically enroll their customers in expensive overdraft loan programs. Banks will be required to get their customers’ permission first before they can charge expensive fees when debit and ATM card transactions trigger an overdraft.
 
The rules don’t kick in for new cards until July 1 and for existing accounts, Aug. 15.  And, the rules don’t cover checks or recurring debit transactions—like those for utility, phone, or rent payments.
 
Most large banks automatically enroll their customers in overdraft programs, which are really high-cost loans that generate billions of dollars in excessive fees every year. Banks are expected to collect more than $38 billion in fees from overdrafts this year.
 
Debit card overdrafts could be prevented with a warning that there are not enough funds in the account, or by declining the transaction. Instead, most banks let these transactions go through and charge consumers a fee for each overdraft; the average fee is $35, according to Consumer Federation of America.  If you don’t pay back the overdraft within a few days—or sometimes a single day—you’ll be hit with additional overdraft charges.
 
Here’s an example: According to Consumer Federation of America, a Bank of America customer who overdraws on four transactions that total more than $10 would be charged $35 each for a total of $140. If the overdraft isn’t repaid in five days, the customer would get hit for another $35 sustained overdraft for each unpaid overdraft. Total: $280 in fees in under a week.
 
Until the new rules kick in there are a few things you can do:
 
• Link your checking account to a savings account and set up overdraft transfer protection. With this method, the cost for overdrawing the checking account is generally lower, say $10 each time.
• Opt out. Bank of America already allows customers to opt out of its overdraft program by calling 888-717-3999. Chase and Wells Fargo have announced that they will soon implement an opt-out provision, and like B of A are limiting when and how many overdrafts they charge.
• Budget better. Balance your check book and sign up for e-mail or text message alerts from your bank or from a personal finance Web site to tell you when you’re account has fallen to a certain level.  
• See the Consumer Federation of America's study of the major banks, so you can choose a bank that works for you. Don’t forget to check out your local bank, which might have more consumer-friendly terms.—Chris Fichera 

It's wise to look a gift card in the mouth

Nearly half of American polled in our recent Consumer Reports Holiday Shopping Poll said they expected to purchase gift cards for families and friends. It's no wonder: They're a nice proxy for cash, and perfect if you don't know what else to give. They're also a useful as a tip for folks who provide service to you year-round.

Gift cards have their drawbacks. American Express recently rescinded monthly fees on its gift cards in time for the holidays, but retained other fees. Other issuers still may require fees and expiration dates. The Credit CARD Act of 2009, scheduled to become fully effective in February 2010, would prohibit gift-card fees for at least one year after purchase, and prohibit expiration dates earlier than 5 years. (The Senate has yet to approve legislation passed last week in the House that would speed up most aspects of that law to December 1 of this year.)

Fees and expiration dates notwithstanding, gift cards have additional drawbacks, in terms of how they're used. Listen here to Tightwad Tod and be forewarned!

Cash for unwanted electronics

Looking to get rid of an old computer, digital camera, or MP3 player? Sears just launched a new trade-in and recycling program that allows customers to exchange unwanted electronics for gift cards redeemable online or in stores.

Here’s how the program works:

Log onto sears.gazelle.com, where you’ll be prompted to enter brand and model information, indicate whether the device works or is damaged, and answer questions about condition and the presence of various accessories. In the case of personal products like MP3 players, you’ll also need to reveal whether the gadget has been monogrammed (which decreases the value).

Once you’ve provided the information, click ‘calculate,’ and up pops the trade-in value. A Nintendo Wii gaming console, for example, in perfect condition with all of its accessories, is worth $102. In poor shape, it’s worth just $20.

Other products eligible for trade-in include cell phones, PDAs, video games, movies on DVD, camcorders, GPS systems, Blu-Ray players, satellite radios, camera lenses, calculators, and home-audio gear.

In partnership with Gazelle, a dedicated gadget buy-buyback company, Sears offers free live chat support and pledges to wipe all items clean of personal data as part of its inspection process.

If you’re satisfied with the offer, the company will provide free shipping and packaging to return the equipment. You’ll get your Sears gift card in a week or so. Sears will also accept for recycling electronics items that no longer work. Recycled items, however, have no trade-in value.

As a special holiday promotion, Sears says participants will receive a 5 percent bonus over the actual trade-in value through Dec. 31.

Black Friday comes early at big chains

With analysts predicting aggressive holiday sales this season, many retailers have gotten a head start on Black Friday by dangling generous discounts well in advance of Nov. 27. 

Walmart, Kmart, Sears, Toys “R” Us, Best Buy, CVS, Target, Staples, HH Gregg, Kohl’s, Lowe’s, and Ace Hardware are some of the big names hoping to cash in by enticing early birds with bargains prior to the day after Thanksgiving, traditionally one of the busiest and bargain-laden shopping days of the year.

You can scope out many of the deals – and rumors of deals – ahead of time at a variety of Web sites such as Black Friday Ads, The Black Friday, TGI Black Friday, Black Friday Info,  Deal News, Deal Taker, and Black Friday FM.

The most efficient way to discover what’s on sale at your favorite stores or online is to sign up for e-mail alerts. By doing so, you’ll also be privy to special offers like free shipping, announcements of upcoming promotions, exclusive savings for store credit-card holders, deals of the day, and periodic markdowns like special 3-hour sales. One note of caution, however. Many of the doorbuster ads on retailer Web sites often lack a model numbers for big-ticket items like computers and TV sets. That can hinder comparison shopping.

This year, Walmart ushered in Christmas on Halloween with Black Friday pricing on a variety of “secret” in-store specials. They’ve also cut prices weekly on thousands of items from bananas to board games throughout the holidays. More recently, the company announced additional price rollbacks of an additional 20 to 30 percent on 100 popular toys, which comes of the heels of the chain’s season-long holiday promo of 100 toys at $10. Perhaps of even more note, the chain said on Wednesday that it will keep all of its stores open round-the-clock on Thanksgiving weekend and implement new crowd-control measures in the aftermath of last’s years fatal trampling of an employee during a frenetic Black Friday sale. The chain has also devised another strategy to deter mayhem. Instead of lining up outside the doors for the 5 a.m. sales to commence, people will be dispersed in gathering areas throughout each store.

Over at Sears, the chain began offering “Black Friday Now” deals on Oct. 31, and they’re slated to continue every Saturday from 7 a.m. until noon through Thanksgiving.  Some of the early bargains included a Craftsman 302-piece mechanic's tool set at half off; a ProForma XP elliptical exerciser for $400 (regularly $700), and a 42-in. Zenith Plasma TV for $499, a $250 savings.

Kmart kicked off its “Better than Black Friday” campaign last week, which features 15 new doorbusters on Fridays. Some of the recent deals have included Protégé basketball shoes at $15 a pair, General Electric artificial Christmas trees at 25 to 33 percent off, Basic Editions jeans at $7, and a Little Letters Learning Laptop at half price.

Earlier this week, Target took aim at Walmart by taking pre-orders of some highly anticipated DVDs at $10, the same price point they sell for at the nation’s largest retailer. The $10 price applies to pre-orders on Target.com of 10 select DVDs: “Star Trek XI,” “Night at the Museum: Battle of the Smithsonian,” “Harry Potter and the Half-Blood Prince,” “Angels & Demons,” “Four Christmases,” “G-Force,” “My Sister’s Keeper,” “Santa Buddies,” “Terminator Salvation,” and “Julie & Julia.” At the same time, Target implemented price cuts on hundreds of hot new toys from Fisher Price, Ni Hao Kai Lan, Barbie, LIV, Furreal, Star Wars, Ben 10, and Air Hogs.  For guests hoping to get a head start on the gifting season, November deals include over 400 price cuts, which began rolling out November 1. Many toys will be on sale for 50 percent off through Nov. 25.

Best Buy is making a pitch to draw in value-conscious consumers by offering a $250 computer, the cheapest laptop the chain’s ever sold. The Acer laptop, with a Intel Celeron 900 processor, 2 GB memory, and a 160 GB hard drive, went on sale in stores and online earlier this week.

Another electronics chain, HH Gregg, is rolling out its pre-Thanksgiving blockbusters tomorrow and Saturday from 10 a.m. to 9 p.m. Highlights include several Panasonic flat screen HDTVs, notably a  58-inch 1080p model with three HDMI inputs for $1,500, several hundred dollars less than we’ve seen elsewhere. If you’d prefer alternative to the models on sale, the retailer is applying extra discounts of $20 to $200.

New survey bites back at 'free lunch' seminar scams

I don’t know about you, but whenever I get one of those “free” lunch or dinner invites in the mail from some financial services outfit, I can’t throw it away fast enough. Sometimes I want to use tongs.

But lots of people apparently take up the offer. Some 6 million Americans have attended one of these cringe-worthy events in the past three years, according to AARP and the North American Securities Administrators Association (NASAA). 

Typically billed as educational seminars, the lunches and dinners often tend to be little more than sales pitches for inappropriate, high-commission products—or worse.  A joint survey released today by AARP and NASAA reports that 40 percent of respondents who attended one (all Americans 55 and older) said the presenter tried to sell them something during or after the seminar. And it doesn’t end with dessert: 46 percent said the presenter tried to make a follow-up appointment at their home.

If you or anybody you know are ever tempted to take up a free-meal offer, here's some food for thought: 

• The AARP/NASAA survey referenced above.
• Some related news from the Securities and Exchange Commission (SEC).
• Advice from Consumer Reports on avoiding investment scams, including those that involve a supposedly free meal.  — Greg Daugherty

Greg writes the “Retirement Guy” column each month in the Consumer Reports Money Adviser newsletter.

New on Top 10 Complaint list: Sleazy credit-card & lending practices

The National Association of Attorneys General recently released a list of the 10 complaints consumers filed most frequently with state AGs in 2008. It includes two gripes of particular interest:

•Greedy banks that coaxed people into mortgages they knew couldn’t be paid back are evicting folks from their homes (no. 6)

•Greedy banks are raising interest rates, cutting credit limits, tacking on new fees, and otherwise overcharging for credit and debit cards (no. 4, a tie).

I certainly wasn’t shocked that a lot of people voiced those complaints, especially given the dastardly role the banking industry played in the near-collapse of the U.S. economy. But I was surprised to learn that this is the first time predatory lending and unfair credit-card practices were among the top 10 complaints since NAAG began compiling its yearly list.

Maybe it took the Great Recession for people to stand up for their rights on those two critical issues. But in many financial disputes, consumers may not know their rights under the law. In the November issue of Consumer Reports Money Adviser we explain consumers' legal rights in 11 typical clashes with retailers and service providers.

Consumer protection laws vary from state to state. Here's contact information on your state’s AG office.–Jean Pietrobono

Holiday tip: Friday's the deadline for parcel post to overseas military

November 13

This Friday is the U.S. Postal Service's recommended deadline to send holiday packages via Parcel Post to military personnel overseas. 

You've got a few weeks more–generally 'til December 4 or December 11–to send packages to civilians overseas using the less-costly Parcel Post. And if you're willing to spend the money for Express Mail, you can wait 'til up to a week before Christmas, even later to certain destinations like Mexico and the Caribbean.

FTC uses kid gloves on ChoicePoint's 2nd data breach

At least 340 million personal records held by corporations, government agencies, and other entities have been compromised by security breaches since January 2005, according to the Privacy Rights Clearinghouse, a non-profit consumer organization that keeps a running tally that isn’t even a complete listing.

Why are corporations so reckless in handling other people’s personal and financial data, when you rarely hear that a corporation accidentally gave away records revealing its own secret financial information?
 
My theory is that, because the authorities are very polite and socially graceful with corporations that lose your data, and because offenders can pass the cost of penalties on to their customers or insurers, this leads the data-losers to believe they’ve really done nothing wrong. A recent settlement between ChoicePoint and the Federal Trade Commission makes the point.
 
After ChoicePoint, one of the largest U.S. data brokers, got caught carelessly handling the personal information of 163,000 consumers in 2005—resulting in 800 cases of identity theft—the Reed Elsevier subsidiary got sloppy again three years later, at least allegedly, according to an October FTC press release. 

The 2005 data breach was serious enough for ChoicePoint to get tagged by the FTC, which filed a 2006 complaint that resulted in a settlement and a court order.

Following the standard etiquette of government settlements, the FTC agreed to resolve the matter, “without Defendant admitting the truth of, or liability for, any of the matters alleged in the Complaint.”

I don’t know about you, but when I got caught doing something wrong as a kid, earning back my parents' trust required an admission of guilt. ChoicePoint had to do no such thing, which allowed it to assure its stockholders in a subsequent annual report, that the company “does not admit to the truth of, or liability for, any of the matters alleged by the FTC.”