C P M C P M G Oct 07 2011 09:05:43:596PM Post-Gazette G A-7 Y K Y K Business Page SATURDAY, OCTOBER 8, 2011 A-7 YOUR BUSINESS Fees alter many free checking accounts By Patricia Sabatini the five largest banks and five a fee to carry the card or it’s more accounts were offering Pittsburgh Post-Gazette largest thrifts in 25 of the nation’s a transaction-based fee,” Mr. waivers to avoid monthly fees, biggest markets in August, McBride said. Bankrate said. The most com- Can German youth Free checking accounts — including Pittsburgh. For now, only 4 percent of mon waiver was a requirement once as easy to get as sniffles in a “The decline in free checking accounts charged a debit card for direct deposit, although con- kindergarten class — are drying is in full swing,” Bankrate senior fee at the register, and less than sumers should keep in mind employment model up. financial analyst Greg McBride 2 percent charged a monthly or that money deposited into these The percentage of banks said. annual fee for carrying a debit accounts won’t be earning inter- nationwide offering checking At the same time free check- card, Bankrate found. est. accounts that don’t require a ing was on the decline, fees and But the situation could change On interest-bearing check- be applied in the U.S.? minimum balance fell dramati- penalties were rising, the survey following the announcement last ing accounts, monthly balance cally this year to 45 percent, found. week that Bank of America, the requirements were up while n the United States, it is according to an annual survey by Overdraft fees hit a new high nation’s largest bank, planned to annual yields have plummeted. usually a given in working business forum Bankrate.com. That’s down from for the 13th straight year — ris- charge customers $5 a month to Banks increased the minimum Ilife that the road to success KLAUS F. ZIMMERMANN 65 percent last year and a peak of ing to an average of $30.83, up use their debit cards beginning balance to avoid a service charge leads through a four-year col- 76 percent in 2009. from $30.47 last year, Bankrate next year. on interest checking accounts to lege. Given the profound cost Free checking offers are likely said. A spokesman for PNC, Pitts- an average of $5,587, up steeply of attending a university these demands of the contemporary to fall further as banks try to The average fee banks charged burgh’s biggest bank, has from $3,883 last year. Meanwhile, days, some parents begin sav- economy. I beg to differ. make up for major chunks of noncustomers to use their ATMs, declined to comment on whether annual yields skidded for the ing for a child’s tuition while What has happened in the revenue lost due to new federal known as a surcharge, rose to the bank might impose a debit fifth straight year to an all-time he or she is still in diapers. The intervening years really speaks regulations. About a year ago, $2.40, up from $2.33 last year. The card fee. low of 0.08 percent. impulse is understandable. for itself. Unlike the United banks were barred from charg- most common surcharge was Consumers who don’t want to With the fee environment in Doing better than one’s parents States, Germany has not de- ing overdraft fees for debit card $3. The fee banks charged their pay a debit card fee should shop flux, consumers should be vigi- has long been a way of defining industrialized. Manufacturing and ATM transactions unless a own customers for using another around for another bank or credit lant about reviewing their state- the American dream. remains a backbone of the customer expressly signs up for bank’s ATM, often called a for- union, or switch to using credit ments and any notices from their But is this really the best economy. And apprenticeships overdraft protection. And on Oct. eign fee, was flat at $1.41. cards, as long as they faithfully bank for changes in account path to success for the most often involve a fairly complex 1, caps took effect limiting debit For debit card users, new fees pay off their balance each month, terms, Mr. McBride said. people? Recent data paint a course of training, both in trade card swipe fees that banks collect could be on the way. Mr. McBride said. questionable picture. While schools as well as at the com- from merchants. “I think we will see an increase On the plus side, while free Patricia Sabatini: psabatini@ about 70 percent of U.S. high pany level. Bankrate.com’s survey polled in debit card fees, whether it’s checking was on the decline, post-gazette.com or 412-263-3066. school graduates go on to study Along the way, apprentices at a four-year college, the sad learn key concepts of technol- reality is that only about 60 per- ogy, business management, cent of them actually complete a applied analysis and an ever bachelor’s degree (or its equiva- higher degree of analytical business lent) in any field even within six reasoning. Apprenticeships are Hiring the ‘Moneyball’ way briefs years of enrollment. therefore far more than on-the- That means a surprisingly job training and a transition to high percentage of America’s a young person’s first job. They By Jane M. Von Bergen Heinz: French ketchup young people is entering the also provide a solid basis for the Philadelphia Inquirer cuts don’t affect sales labor force armed with only lifelong updating of one’s profes- The H.J. Heinz Co., which a high school diploma — and sional skills. In “Moneyball,” the well- is based in Pittsburgh but little or no work experience. Not At a time when public received baseball film, Oakland sells ketchup around the surprisingly, America’s youth and private budgets are very Athletics general manager Billy world, is taking calmly the unemployment is more than stretched, a determined focus Beane walks into the locker room, news that French officials are double the rate for the overall on providing real, future-ori- sits next to a player strapping limiting ketchup in schools population. ented job training can pay huge braces on his legs and delivers the to once a week and not on Meanwhile, in European dividends. It is not expensive news: traditional French foods. “The countries like Germany, Aus- and does not require young “You can’t have 26 players in the decision has virtually no im- tria and Sweden, youth unem- people and their families to take clubhouse,” Mr. Beane, played by ployment is about half the U.S. on a lot of debt. Brad Pitt, says. pact on our sales in France,” rate. That is surprising since However, one thing is true: All emotions fly across the play- said company spokesman these countries, like the United Whichever way one turns, exe- er’s face: a sliver of hope that the Michael Mullen. “Heinz is States, were hit hard by the cuting any job training strategy visit is merely social, then panic, proud to serve the world’s fa- global financial crisis. will take time for it to bear real sadness, fear and, finally, resigned vorite ketchup to all consum- fruit in the workplace and in stoicism — he hasn’t made the ers in France who love the the broader national economy. 25-man roster that Major League great thick, rich taste of our It could well be a decade or two teams are limited to for the bulk of ketchup. Heinz ketchup adds A surprisingly high before the real impact is felt. the season. a splash of fun and flavor to percentage of With such long timelines, “I’m sorry,” Mr. Beane says. any food, and it’s a classic three things are deadly: The Richard Gardner knows all Philip Seymour Hoffman, who plays the manager in “Moneyball,” condiment in any culture.” America’s young first is to hope for miracles; the about sorry. often butts heads with Billy Beane on personnel decisions. people is entering the second, to refuse to decide on “I know how it hurts,” said Mr. Pa. small businesses any strategy; and the third is Gardner, of Marlton, a man in report weak sales labor force armed with to change the chosen strategy his early 60s who heard a similar said. “I thought I was immortal, players and stretch the club’s lim- Owners of small and impatiently, often onto its very speech in May 2009, when he lost that I was going to survive until I ited budget. In 2002, the A’s payroll midsize businesses in Penn- only a high school head, because the hoped-for his main job. He is still unem- retired.” totaled $41 million; the New York sylvania report weak sales diploma — and little results haven’t yet materialized. ployed — one of 14 million Ameri- Mr. Gardner is different from Yankees’ totaled $125 million. as their top challenge, but At least for now, the record cans without a job. many people who have be laid off, After a rough start that nearly more plan to raise prices to or no work experience. would indicate that the German “It is a hurt,” said Mr. Gardner, because he, like Mr. Beane, has caused Mr. Beane to lose faith in preserve profit margins in the strategy, which mixes academic who supervised more than 100 peo- also laid people off. his approach, the A’s started to face of higher wholesale and excellence with plenty of well- ple as a plant manager at Helvoet Michael Lewis’ book “Money- win.