Well, Martha Stewart will soon be off to prison [Read More: Stewart to Begin Serving Prison Sentence Oct. 8]
What a shame. I actually feel sorry for the woman. All that time away from her beloved animals. (I notice she didn't mention that she would miss her only child) and the drab colors she must endure during her jail sentence. The horror!
Let me ask you this? Would you trade on insider information if you were presented with the opportunity?
Let's say a friend knew that a particular company would release information soon that would definitely make the stock go up. Would you rush out and buy the stock of the company in question? Send me an e-mail at [EMAIL PROTECTED] if you would trade on the information or even be tempted to do so. I promise not to rat you out.
A poll released earlier this year by Money Magazine and International Communications Research found that nearly one-third of American investors (32 percent) said they would immediately buy or sell a company's shares if they learned, for example, that a company was about to announce major changes in management or earnings forecasts before that news became publicly available. [Read More: The SEC on Insider Trading]
Just so you know, the Securities and Exchange Commission, armed with new rules, has become a lot more aggressive in going after people pass on illegal tips as well as those who trade upon insider knowledge. [Read More: Regulators Attacking Insider Trading]
I was pleased to learn that the majority of investors (59 percent) have morals and would not buy or sell immediately if they received an illegal insider stock tip.
Nine percent of the people polled didn't know what they would do, which I don't believe. They know. They just didn't have the guts to admit they were cheaters deep down.
Let's Chat
Please join me next week, Wed. Sept. 29 at 1 p.m. for my regular online discussion. I'll be chatting with Wanda Urbanska and Frank Levering, authors of September's Color of Money Book Club selection: "Nothing's Too Small to Make a Difference."
Penny Pinchers
I've received a number of e-mails from concerned readers about a penny pincher tip I passed on saving money on bottle water by refilling the plastic containers. [Read More: Dedicated Penny Pinchers Often Take the Heat For Their Thrifty Ways.]
For example, one reader said: "People need to exercise caution when refilling plastic drinking bottles. Some bottles, when reused, can leach chemicals into the contents. They are specifically designed as single-use containers and decompose after they are exposed to light and air."
I wondered about this claim, since I frequently reuse my plastic water bottles. Who better to ask than the International Bottled Water Association?
Bridget B. Wells, manager of communications for the IBWA, agreed with the cautionary readers.
"IBWA does not recommend that these containers be reused by consumers," she said.
The packaging used for the bottles is made up of polyethylene terephtalate or PET.
In this case, although safe, the bottles are only intended for single-use and easy recycling.
Wells said the bottles are not designed to withstand high wash temperatures, abrasion or scrubbing.
If you have any questions about this you can go to www.bottledwater.org or call the IBWA's consumer information hotline at 1-800-928-3711.
Honestly, I'm not sure I'm going to give up reusing the bottles at least a few times -- at least until I notice my hair turning green.
* Read Past Penny Pinching Tips
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