Usury

(yū'zhə-rē) I seldom use my Macy's credit card--must have pulled it out by mistake when I shopped there on December 19. Today I got a "red star rewards" statement for the period ending December 21. I charged about $60 (2 presents for my husband and 2 for me!) and the minimum payment is due on Jan. 15. So that's 25 days for a 30 day billing account. If I choose to pay less than the full balance, $1 will be added to my revolving account balance, which inexplicably is recorded as $22.41 even though I had zero balance on Dec. 19. It says in upper right corner of page one that the average daily balance is $5.98, the daily periodic rate 0.05918%, which corresponds to an annual percentage rate of 21.60%. On the second page is the note "A finance charge in the amount of $1.00 will be added to your Revolving account balance if you choose to pay less than the full balance by your due date. If that happens, the actual ANNUAL PERCENTAGE RATE charge on that account is 200.64%.

Anyone with better math and English skills want to explain this, without using the words usury, obfuscation, exorbitant or onerous?

It's EMS Week

It used to be (in the old days of the 1970s or 1980s) that if you did a good job, you got something called a paycheck. If not, a pink slip. Then came the merit raises, and the occasional departmental party hosted by the boss or pot-luck which were supposed to cover it. But today's gen-x and gen-y workers need so many hugs and warm fuzzies, that entire businesses have grown up to create appreciation gifts and events. I noticed this item in the OSU Medical College newsletter.

"May 18-24 is National Emergency Medical Services (EMS) Week. OSUMC will provide refreshments and information to EMS crews at both emergency departments, deliver gifts to fire departments and provide educational seminars throughout the week. Look for our "Thank you, EMS" billboards around town and join us in thanking EMS for the lifesaving work they provide."

When I retired in 2000, I had FIVE retirement parties, one in the vet library, one in the main library, two in restaurants and one at the faculty club. The university must have either been very happy to see me go, or very sad.