Tampa Bay Times from St. Petersburg, Florida • 45

SUNDAY SECTION EY THE TIMES SUNDAY, AUGUST 1, 2004 PERSONAL FINANCE WALL STREET STOCKS MUTUAL FUNDS MARKETS THE BUSH ECONOMIC TEAM ))' On catchy ad claims, check the fine print 1 ft i id- in miiiA i niMiinni mm i nij lummmmmmm nmhiim HELEN HUNTLEY ON MONEY Steve Friedman, Don Evans, Greg Mankiw, President Bush Elaine Chao, Labor John Snow, Treasury assistant to the Commerce secretary. Council on Economic appears with his secretary. secretary and the president for Economic Advancement economics advisers at president's chief Policy and director of chairman. his ranch in Crawford, spokesman on the the National Economic Texas. economy.

Council. HEAVY-HITTERS LEAD ECONOMIC TEAMS John Kerry is surrounding himself with some of the top names in business to tout his message and drive home the shortcomings of President Bush's policies. i i- Formidable politicians, they are. Big business executives, they are not Backed with the money of rich family friends, George W. Bush once started and ran Texas oil exploration businesses with little success and plenty of losses for his investors.

John Kerry briefly operated a two-man law firm in Boston specializing in wrong Bush has the easier path. He also enjoys the advantage of making his case with the high-profile members of his Cabinet from his treasury secretary to his labor secretary who were recruited from corporate America's top echelons. Fresh from the Democratic National Convention, Kerry faces a tougher sale. More than a few executives recall Kerry early this year labeling them ROBERT TRIGAUX POLITICS 2 004 BIZ BITS DESPITE AN improved economy, employers are granting workers limited pay raises this year and plan only slightly larger increases in 2005. Companies are budgeting pay increases of 3.3 to 3.5 percent this year and plan raises of 3.5 percent next year, according to a pair of surveys.

The modest increases will keep 1 workers' pay increasing faster than the rate of inflation. But analysts say higher worker contributions for health care could eat up much of the pay gains. IF YOU'RE NOT putting much money aside for retirement, here's a point to ponder: Nearly a third of your life could be spent as a retiree. As a result, experts say "working retirements," in which we spend a day qr two each week at a small job, are likely to become common as many retirees need to make ends meet MARRYING COUPLES should have a heart-to-haart talk about money. First, disclose your complete financial situations to each other, a family law expert says.

Next, discuss attitudes about money for understanding, not necessarily agreement. Joyce Franklin of JLFranklin Wealth Planning says the best way to minimize spending fights is to set goals. "It may be to retire or buy new cars every five years. Then we work backward to determine what kind of spending patterns happen now so they can achieve these goals," Franklin says. WHEN ITS TIME to buy new appliances, check their energy efficiency by looking for the government's Energy Star designation.

Energy-efficient appliances generally cost less to operate, and the Energy Star designation certifies the product exceeds federal guidelines for energy efficiency. An air conditioner with an Energy Star rating, for example, should be 20 percent more efficient than its standard counterpart LOOKING TO BUY a treadmill? Expect to find prices ranging from about $300 to $4,000. The American College of Sports Medicine recommends spending at least $2,000 on a treadmill if you're a runner and about $1,000 if you're a walker. You may find a more economical model that works for you, particularly a used one. Compiled from Timet wires and Web sites The mortgage broker's radio ad caught my attention with its grandiose promise: I could pay off a 30-year in seven years without increasing my monthly payment I decided to check it out First I went to the broker's Web site, which made no mention of this deaL Instead, it touted a plan to reduce monthly payments by taking out a 40-year mortgage, quite the opposite of what I had in mind.

A couple of phone calls later, I finally found out the details of the seven-year repayment plan. Unfortunately, they were more complicated than I had hoped: First, I would have to refinance my existing mortgage with a larger, interest-only loan, cashing out the equity in my house. Then I would have to use this equity to make down payments on two or three rental properties. Then I would sit back and collect rent, which would cover all the rental properties' costs, no problem. Seven stress-free years later, I would sell the properties and thanks to continuing fast appreciation in housing prices, I would net enough to pay off the mortgage on my house.

Nothing could possibly go wrong with that plan, could it? Sadly, there is no free lunch. You can't get rich stuffing envelopes at home, you can't lose weight while you shower and you can't pay off your mortgage 20 years early without increasing your monthly payment or taking a whole lot of extra risk. Yes, some version of the plan might work, but I wouldn't want to risk the equity in my home to find out Deals that sound too good to be true almost always are and you might as well develop the internal radar to detect them. Some are merely misleading, but others are outright fraud. Unfortunately, you can't count on someone doing the screening for you.

Although many media outlets turn down ads they suspect are fraudulent, the mere fact that advertising has been allowed on the air or in the newspaper does not mean that someone has checked out its legitimacy. That up to you. There are laws against consumer fraud, but enforcement rarely comes until there are victims, which you want to Please see HUNTLEY 8D Benedict Arnold CLOs for outsourcing U.S. jobs overseas. Kerry says that was said in the heat of the competitive primaries and was meant to reach workers, the core Democratic voters.

Kerry argues he is probusiness, or at least proeconomy and antideficit That's the message Kerry's inner circle of economic advisers wants to convey to the U.S. business community. That team consists mostiy of former Clinton administration experts. One adviser, former Treasury Secretary Robert Rubin, who is now a Citigroup executive, sat next to Teresa Heinz Kerry as her husband accepted the party's nomination last week at the Democratic National Convention. The most elusive commodity for Kerry prominent CEOs are starting to emerge as advisers and active supporters.

Among the prominent Berkshire Hathaway chief and billionaire ful death cases and what Kerry has called "a string of relatively notorious hair implantation cases." He even started a cookie shop called Kilvert Forbes (named after the maiden names of the co-founders' mothers). Kerry sold his interest, but not before the founder of the David's Cookies chain claimed Kerry stole the idea from him. As tepid business entrepreneurs in the 1970s and 1980s, Bush and Kerry got a taste of the hard-knock ways of commerce before moving on to the world of politics. Now locked in a tight race for the White House, the two presidential candidates also learned some sound political lessons along the way. First To win big elections, smart economic policies count a lot Second: Winning the support of at least some of the business community helps in fundraising, but it is critical for a candidate's economic credibility.

Third: Achieving the goals of the first two lessons requires a crack team of economic advisers. With U.S. businesses a traditional Republican ally, President Please see TRIGAUX 8D THE KERRY ECONOMIC TEAM PERSONAL FINANCE Lee lacocca, former Chrysler chief and author (long retired). Warren Buffett, billionaire investor and founder of Berkshire Hathaway. John Kerry recruited heavily from Clinton's experts on the economy.

Laura Tyson, former chairwoman of the Council of Economic Advisers in the administration. Roger Altaian, chairman of Evercore Partners and former deputy Treasury secretary under Clinton. Gene Sperling, served in the Clinton administration as national economic adviser and director of the National Economic Council. God at work: Business embracing faith More companies nationwide find benefits in promoting a religious context in the workplace. ON THE WEB www.snopes.comlnboxer The Snopes Web site gets to the bottom of the Nigerian scam and other inventive e-mail tricks to separate you from your money.

By ABBIE VANSICKLE Tlnwt Staff Writw INSIDE: The cost of seemingly routine repairs to cars has increased so rapidly that more cars than ever are being declared total losses. 3D of faith in the business. "Ultimately, everything we do has some kind of Christian base," Hayes said. Although the owners are quick to emphasize their employees dont have to be Christian, their faith is a vital part of their business practices. Digital Lightbridge volunteers its services to ministries that cannot afford pricy marketing firms, including the Tampa Port Ministries, a nonprofit group that ministers to seafarers.

It also shells out several hundred dollars each month so Hayes can attend sessions with other Christian company presidents through a national group called the Christian 12 Group, or C12. Digital Lightbridge is not an anomaly. The joining of companies and faith is a growing trend throughout the Tampa Bay area and the country. Prework prayer meetings, corporate retreats to discuss faith-based business strategies, chaplains Please see FAITH 8D Digital Lightbridge started with a few scribbles on a Denny's restaurant napkin. Richard Hayes and Jeffrey Damm had been friends for 13 years.

They worked in marketing. They went to the same church. About three years ago, they sat down at the diner to sketch out a business plan that would merge their careers with their Christian faith. Today, the company has about 50 clients, including J.R Morgan Chase, the University of South Florida and Simdag Investments. If a private, for-profit company with five employees who work out of an office building at 102 Whiting St in downtown Tampa.

Hayes is vocal about the role Times photo CHRIS ZUPPA The presence of faith is no secret at Digital Lightbridge, a Tampa marketing firm that blends religious expression and business. It is part of a growing trend. TO CONTACT US: By phone: (727) 893-8160 or (8Q0) 333-7505, 8160 By toe (727) 892-2327 Mon-fti: 9 i.m. to 5 p.m. By Mini: tnnevvssptim8s.corn.