#spending

My father had a lot of career advice for me growing up, all of which I cheerfully ignored as I planned a future as a bike-shop owner or folk guitarist. He thought I should go to work for Proctor&Gamble. Sell soap to the masses. Climb the corporate hierarchy to the C-suite. Own a tasteful but extravagant home in Cincinnati’s most exclusive neighborhood. This was bad advice. I learned a long time ago that I don’t have the bow-and-scrape mentality required for success in a corporation.

You know what Dad should have told me instead? He should have told me to be a doctor. I have all the required characteristics: arrogance, blind confidence, a lack of empathy, and a willingness to forget about people as soon as I walk out of a room. By and large, doctors are terrible people. I should know. I’ve spent more time in the hospital than your average late-stage cancer patient.

Robert Ringer once called medical school “a place where people are trained to think they are infallible” — or something like that. He was right. Doctors are notorious for being poor stewards of their money due to simple overconfidence in their own instincts and innate superiority. Thirty years ago, when long-term open-ended leasing was a veritable art form of forcible financial sodomy, the most sadistic practitioner of that art in my area was a storefront that called itself “Physicians Leasing.” They put our local doctors in loaded W126 Benzes for $400/month. Every two years they’d swap the docs out into new Benzes. Further and further underwater our local physicians went, until the final mid-five-figure bill came due. Luckily, it was an era of skyrocketing home equity.

Doctors love their fancy cars, that’s for sure. But I recently found a website that argues an extreme but interesting case: the most money a physician should spend on a car is five grand, period, point blank.

Though the United Auto Worker’s fight for organization of the transplants in the Southeastern United States rages on, the union will not be taking as much from its war chest to fund the fight than in previous years.

Under the leadership of outgoing president Bob King, the United Auto Workers have seen their rolls increase to 9,000 members in 2013, marking the fourth consecutive year of increases for the union.

This year’s sales race in the mid-size segment is one of the most competitive in recent memory. 5 of the top 10 best-selling cars in America are mid-sizers, and automakers are pulling out all the stops in an effort to unseat the Toyota Camry from its standing as America’s best-selling car. But Toyota isn’t going down without a fight.