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Top 10 Failed Products: Our Roundup of Classic Flops

Andrea Chalupa — Tue, 27 Apr 2010 08:00:00 EST

Sometimes good companies make very bad decisions. Twenty-five years ago, Coke unleashed what would become a classic lesson in business schools for what not to do: the launch of New Coke. In 1985, the company tried to replace its century-old cola formula by marketing this newer version in order to compete with Pepsi. Consumers protested, lighting up the switchboards at Coca-Cola. That was the end of New Coke, and the tried and true formula returned to the shelves.

Companies continue to make bad products they think people will buy. In recent years, there's been Bud Light Lime, with its citrus taste that overpowers any beer flavor. Consumer Reports dubbed it one of the worst products of 2009. And it also earned the Facebook page: Bud Light Lime Sucks. Then another company thought Spinlash Mascara--a mechanical, spinning mascara brush--was a good idea. Consumers found it to be messy, causing clumps when it claimed to get rid of them. Consumer Reports agreed, ranking it a worst product of 2009.

Only time will tell if these products go down in history with the classic flops. If they do, they would be in good company. In 1957, Ford only sold 64,000 Edsels, a car with a front grill folks compared to "an oldsmobile sucking a lemon." Sony's Betamax video recorder hit stores in 1975, and within a year, major competitors jumped aboard the VHS bandwagon, a rival format to Betamax, which ultimately lost the technology war. McDonald's Arch Deluxe was going to put the "gold" into golden arches by being a high-end hamburger. Debuted in 1996, consumers weren't lovin' it, preferring price and convenience over fancy marketing.

WalletPop rounded-up the top 10 failed products of all time, (a list that unfortunately will always have to be updated). Some of these product concepts may work in the movies or in an alternative reality, but in our world, they just didn't make the grade. If there's a product out there on the shelves now that you can't stand, please let WalletPop know in the comments section. From Bottled Water for Pets to Ben-Gay aspirin, there's no shortage of products that we bet these companies wish never happened.

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Best places to retire: with so many lists, here's how to decide

Andrea Chalupa — Wed, 21 Apr 2010 14:00:00 EST

Filed under: Retirement

Checking out "best places to retire" lists is like taking a cross country road trip to obscure American towns: Lubbock, Tex. Manhattan, Kansas. State College, Penn. Why would anyone want to live out their golden years in a seemingly random town? And in the first place, why are there so many lists?

"First off, everybody knows that lists and ratings are popular. People just love that stuff," says Mike Alfred, the CEO of BrightScope, a 401k rankings and research company. "There are so many people in this country who won't be able to retire where they spent their working career. A lot of people have to consider if they can ever retire if they continue to live in Manhattan or San Diego."

These best-of retirement lists -- as random an assortment of towns and cities as they may appear -- actually focus on places that provide job opportunity for senior citizens, usually in the government, education, and health care sectors. And then, of course, there's the weather, cost of living, and social activities. (AARP has a complete list of what it looks for in determining top retirement destinations).

Alfred's favorite best-of-retirement lists are the ones that focus on places abroad, where the dollar can go farther, like this one from WalletPop. He says Americans should consider saving money and ensuring quality-of-life by looking in countries off the beaten path, like Nicaragua, for instance.

Saving money is a major factor in determining top retirement town rankings. With 43% of Americans reporting they have less than $10,000 saved for retirement, according to a recent survey by the Employee Benefit Research Institute, they need the lists to locate the most affordable options. As WalletPop found out in this man-on-the-street video, some people have no idea how much they should even be saving for retirement. "At a high level, a lot of people just won't have a lot of money to retire," says Alfred.

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Acai still a scam, not a miracle fruit, but that's not stopping marketers

Andrea Chalupa — Wed, 21 Apr 2010 10:00:00 EST

Filed under: Health Care, Food, Consumer Ally

Scam warnings about the acai berry have been coming fast and furious for years now, yet every day new products appear, and existing products already on watch lists keep on rolling out in mail order packages, claiming to be touted by Oprah and charging unwitting buyers' credit cards. Why are people still falling for the "super food" claims made about this little berry from the Amazon?

Pronounced "ah-sigh-EEE," the acai berry has about the same antioxidant perks as blueberries, blackberries, and red grapes, which is nice, but not super. In addition to antioxidants, acai berries also have fiber and heart-healthy fats, Katherine Zeratsky, a nutritionist with the Mayo Clinic, wrote for the medical research group's website. Zeratsky is quick to point out that though manufacturers claim the berry can help you lose weight, lower your cholesterol and boost your energy, these claims have never been proven.

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Who can offer job interview tips to boost your confidence? Drag queens!

Andrea Chalupa — Thu, 15 Apr 2010 10:00:00 EST

Filed under: Careers, Job Search

In this job market, it's hard to keep confidence up when available jobs are few. Enter some experts: Sahara Davenport, a star of "RuPaul's Drag Race" (Monday at 9/8c on Logo) and Brini Maxwell from the Style Network's "The Brini Maxwell Show." Together they coach New York comedian Julian McCullough on how to awaken one's inner diva and ace the dreaded corporate job interview.

Watch the first episode of WalletPop's new off-the-cuff video series with Asylum, Aol.'s men's lifestyle site, that is not for the faint of heart. Presenting "HOW NOW! With Julian McCullough" -- showing you how to take care of business:

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Personal loans, home loans and others starting to thaw

Andrea Chalupa — Wed, 14 Apr 2010 14:30:00 EST

Filed under: Credit, Banking, Debt, Business Loans, Home Loans, Credit Unions

The money is not rolling in, but at least there are signs that capital is defrosting, at small banks and credit unions, anyway. If you're in need of a loan, here is a loan primer to help you get started:

Personal loan
Personal loans are those typically under $5,000 and are meant for, as the name implies, personal use, meaning the home, family, or an emergency. They typically have a short approval period and a flexible repayment system. Options for personal loans include bank loans, peer-to-peer, and payday cash loans, which can be a controversial option.

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Want to win the lottery? You're better off with blackjack

Andrea Chalupa — Mon, 12 Apr 2010 17:30:00 EST

Filed under: Family Money, How to Save Money, Investing

In these hard times, gambling and lottery revenues are up, with people putting their faith and a little bit of money toward these get-rich-quick schemes. While WalletPop in no way endorses gambling or playing the lottery, we were curious to find out what are the odds when putting some cash toward making money fast.

Anthony Curtis, the president of LasVegasAdvisor.com, the go-to site on the latest happenings and deals in Sin City, used to make a living as a card-counting genius, like the one dramatized in the movie 21. Curtis came to Las Vegas in 1979. He says that the competition today is immense, and he doesn't recommend being a professional poker player as a career path. "Where my serious money got made was in publishing," he says, citing the Las Vegas and gambling-interest books he regularly puts out.

So what odds does Curtis give for some of the world's favorite get-rich-quick pastimes?

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Health care reform: Those against the bill now forced to live with it

Andrea Chalupa — Thu, 08 Apr 2010 12:30:00 EST

Filed under: Health Care, Health Insurance

While half the country welcomes the historic passage of President Obama's health care reform, the other half feels it is being forced to live with it. How are those who were against health care reform bracing for the changes?

Some of the reform is already active -- tax credits of up to 35% of premiums for small businesses, for instance, are available now. Most significant changes take effect in 2014. WalletpPop polled a handful of anti-health-care-reform folks to find out what impact the legislation will have on their lives.

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Which iPad apps are worth having? What Apple's staff thinks

Andrea Chalupa — Tue, 06 Apr 2010 16:15:00 EST

Four days after the iPad made its debut, the Fifth Avenue Apple store is still flooded with shoppers looking to buy or test out the new gadget-of-the-moment, or rather, year. But now that the iPad has finally made its debut, can you expect to find your favorite apps on it? With more than 1,000 iPad apps currently available -- and most of them being sold at a premium to their iPhone cousins -- it may be tough to decide which apps are truly worth it. (To really save money, see WalletPop's picks for 10 best free apps).

To help you decide, Apple features 'Staff Picks" on its iTunes store and highlights certain apps in its stores.

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Tax Day Tea Party plans nationwide protests April 15

Andrea Chalupa — Tue, 06 Apr 2010 09:00:00 EST

Filed under: Taxes, Family Money, Investing

The Tea Party movement, with its passion for fiscal conservatism that has rallied a predominantly Libertarian and Republican base around events that symbolize government spending, has its chants and anti-government protest signs set for a day that symbolizes what it hates most: taxes. While last year's April 15 gathering, which saw 300 protests across 50 states, was a "coming out" for the movement, this year, organizers believe, will be a force that government leaders on both sides will have to reckon with. From strategy meetings, presentations to representatives on Capitol Hill, and protests on the National Mall, tens of thousands of Tea Party activists are expected to descend on the nation's capital for tax day.

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What happens to all of those clothes retailers can't sell?

Andrea Chalupa — Fri, 02 Apr 2010 10:00:00 EST

Thanks to stores like H&M, Old Navy and Forever 21 that offer mass-produced clothing at dirt-cheap prices, we are living in an age of disposable fashion. And with the constant turnover of goods at these stores, there are plenty of items that never even make it to the cash register. So what happens to all of those unwanted jeans and dresses after their last chance expires on the clearance rack?

Major retailers have a couple options when it comes to getting rid of unsellable clothes: They can either destroy them in industrial-sized shredders and/or dump them in a landfill, hire recyclers to re-purpose the clothes (which can require shredding), sell them to outlets and discount stores like T.J. Maxx, Ross and Daffy's or discount web sites like Overstock.com or Yoox.com or donate them to charities like Goodwill or the Salvation Army.

Much to the dismay of environmentalists and charities, letting unsold clothes end up in a landfill is the method of choice. By doing so, retailers and fashion designers believe they will keep unwanted merchandise from flooding the market and protect their brand by preventing their clothes from ending up on, say, a homeless person, says Luis Jimenez, the executive director of the New York Clothing Bank, an organization founded by Mayor Koch 25 years ago to encourage retailers to donate unsold merchandise instead of trashing it.

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How to Unclutter a Closet for $50 -- Savings Experiment

Andrea Chalupa — Tue, 30 Mar 2010 10:00:00 EST

Filed under: Savings Experiment, Home & Garden

An indelible episode of Oprah showed the mega-host getting her closet organized by an interior decorator who basically turned it into a small boutique, for easy and fun wardrobe access. That should get rid of the classic rant "I have nothing to wear!" Now, most of us don't have the budget nor the closet space to recreate this transformation. In this Savings Experiment, we'll find out the best way to optimize a bedroom closet while saving money on the make-over.

You can purchase a closet system, but they will cost you. I've searched online chat forums and reviews for the best ones. The highly favored Elfa closet organizing systems and accessories at the Container Store can cost anywhere from around $600 to $4,000. Customers report that the systems are easy to put together and last. The PAX systems at Ikea are also highly rated but can set you back a couple thousand too. ClosetMaid is much more affordable -- for around $200 you can pick up a system through Amazon.com to fit your closet, but reviewers have complained that they're difficult to assemble and missing parts in the packaging. Let's see if you can create your dream closet for under $50 by shopping for a few key pieces.

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The $50 Closet Makeover -- Savings Experiment

Andrea Chalupa — Tue, 30 Mar 2010 09:55:00 EST

Filed under: Savings Experiment

Most of us don't have the budget for a complete closet renovation. In this Savings Experiment, we'll find out the best way to optimize a bedroom closet while saving money on the make-over.

Here's how to renovate your closet for less!

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Michael Steele, RNC Chairman, submits expenses that include L.A. bondage club

Andrea Chalupa — Mon, 29 Mar 2010 16:30:00 EST

Oh, the expenses employees try to write-off! According to Tucker Carlson's news site the Daily Caller, Republican National Committee, chaired by Michael Steele, submitted expenses that included nearly $2,000 from a visit to Voyeur West Hollywood, a bondage-and-lesbian-act nightclub.

According to federal disclosure filings dug-through by Jonathan Strong, a reporter for The Daily Caller, expenses for Steele's February trip to California included $9,099 at the Beverly Hills Hotel, $6,596 at the Four Seasons, and $1,946 at the bondage club.

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Using Student Services -- Savings Experiment

Andrea Chalupa — Thu, 18 Mar 2010 15:23:00 EST

Filed under: Savings Experiment, Food & Beverage, Beauty

Would you trust a student driver to get you to the airport fast? Probably not, but you certainly wouldn't mind getting a free massage from a student at a top-notch massage institute. With students training to be tomorrow's masters, there's money to be saved using their services.

Dental

Getting a cavity filled without dental insurance? Ouch! That can easily cost you a couple hundred dollars. Luckily, dental schools need students. Columbia University and New York University both have dental schools that offer deeply discounted services. The work is thorough and supervised by professors. At NYU's dental school, you can save 50% to 75% off the price of regular services paid for without insurance. Though these schools can take on whatever tooth trouble you're facing, the work takes longer -- a lot longer -- than popping in to see your usual dentist.

Beauty

New York City is the fashion capital of the world and also one of the most expensive when it comes to keeping your hair in step with the high fashion. Luckily, a lot of these world-famous and celeb-adored salons have student training programs. Antonio Prieto Salon in Chelsea, for instance, has different training levels with haircut prices that range from $45 to $60 -- that's a savings of 70%. My personal favorite, Paul LaBrecque on the Upper East Side, gives out haircuts for $20, color for $30, and highlights $40 on Mondays only. There is also the Aveda Academy on West Broadway (and other school locations across the country) -- has haircuts starting at $45 and color and partial highlights begin at $50. Though apprentice stylists aren't available Sunday through Tuesday. Check with your local swanky salon to see if they have an apprentice program or are in need of hair models. Though the trip to the beauty salon will take more time, especially when the instructor needs to supervise, the savings are worth it. And if the students mess up? It's hair -- it will grow back eventually. For most of us, anyway.

Eating Out

Ah, the culinary school. What a better way to get a deal at a five-star restaurant than being the guinea pig for future Michelin chefs. If you have a culinary school near you, check to see if they have a restaurant. Chances are you'll find a discounted, multicourse gourmet meal for lunch or dinner. New York boasts the French Culinary Institute (FCI) and the Institute of Culinary Education (I.C.E.). The Culinary Institute of America is a lovely train trip to the Hudson Valley, with institutes in St. Helena, CA and San Antonio, TX, too. We tested L'Ecole, the restaurant of the French Culinary Institute. A four-course dinner costs $42 while a three-course lunch is $28. For your average five star restaurant in Manhattan, that's a savings of $15 to $30. The food is just as exquisite and the bread is as good as the bread they're used to in Paris, as verified by my French date. This experience was a treat for the both the senses and the wallet.

Massage

While living in Portland, Oregon for a year, I was spoiled by the East West College, a professional school of massage and spa training. On select days and times during the week, the students provide 45-minute massages for $25, but you have to make an appointment and be prepared to fill out some paperwork. (And you have to be 18 or over. Previous injuries require a doctor's permission). An average one hour massage can cost $65, these massages provide a relaxing discount of $40.

Do you have a holistic school in your neck of the woods? Inquire about an apprentice program, like the clinic available at the Swedish Massage Institute, which does acupuncture as well. Six one-hour sessions can be purchased for $210 for the stress-releasing massage program, and if you have a specific condition, a 12-session therapy massage clinic package can be purchased for $360. Again, make sure you have the patience and appreciation that this is a learning opportunity for a student, not just a cheap way to get a massage.

Law

If you're not lucky enough to have a lawyer in the family -- one who actually practices -- then check with your local law school to see if they offer free law clinics. Seeing a lawyer can cost around $300 an hour when working with a reputable firm and those hours rack up -- being lawyers, they make sure they do. Albany Law School upstate has an award-winning free clinic that helps out hundreds of people each year. Check out a list of some of these New York City-based law schools to see how to find out whether your case qualifies for pro bono treatment.

Our Verdict

Student services are an excellent way to save money. These schools have veteran professionals guiding the students, so even if you're worried about subpar work, the right expertise is always on hand. The only major drawback is that some of these services, especially the dental school, where meticulousness counts, suck up significantly more of your time than if you paid a professional. I embrace the student services where it comes to beauty, massage, and five-star dining. I would consider taking advantage of the law clinics as well but I would be careful about getting a second opinion. Overall, being a guinea pig for students practicing on entering the working world of their industry is a great help for education ... and your wallet.

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Are Student Services Cheaper and Better? -- Savings Experiment

Andrea Chalupa — Tue, 09 Mar 2010 10:00:00 EST

Filed under: Savings Experiment, Beauty

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Roger Ross Williams: a case study in choosing your collaborators wisely

Andrea Chalupa — Mon, 08 Mar 2010 18:30:00 EST

Filed under: Investing

Roger Ross Williams hated his job as a television producer. Desperate for something different, he went to the Catskills, N.Y. home of his neighbor, Elinor Burkett, an author and journalist who also has a home in Zimbabwe. "'Save me,'" Burkett jokingly recalls Williams said to her, to an audience in the Catskills in early 2009.

Williams laughs and explains, "I was working in television and I was sick of it. And I couldn't deal with it anymore and I wanted to make an independent feature. And I knew I wanted to do something in Africa. So I said to [Burkett] find me a story in Africa. She found me this amazing story."

The story Williams and Burkett worked on together followed Liyana, a band of disabled musicians in Zimbabwe, featuring a limbless lead singer named Prudence. The documentary, Music by Prudence, won an Academy Award last night for best documentary short. Unfortunately, the film will also be remembered for Burkett, a brash redhead, "Kanye-ing" Williams' acceptance speech. "Let the woman talk. Isn't that the classic thing?" she said, as she commandeered the mic. How did a seemingly natural collaboration go so wrong?

Watching their acceptance speech debacle was an awkward, -- where did this redhead woman come from? Is she drunk?-- and entertaining blemish on an otherwise classic Oscars night. The next day, Alison Bulman, the Senior Editorial Coordinator of the American Journal of Nursing, emailed me that she had met the embattled producers and the inspirational musicians of their documentary. (You can find her coverage here).

How did these two neighbors and media professionals become the biggest drama of the night?

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Crate and Barrel Ultimate Wedding comes with some serious strings

Andrea Chalupa — Mon, 08 Mar 2010 12:00:00 EST

Filed under: Family Money, How to Save Money

It sounds like a dream come true for the recently engaged: a $100,000 wedding designed by an event planner to the stars. That's the grand prize of the Crate and Barrel Ultimate Wedding contest. Couples simply have to upload a photo, tell their love story, describe their dream wedding, and their "everyday dream day" -- world peace? -- in 100 words or less. And the rest of us can vote. It sounds like a cool opportunity if you can forward your entry page to an army of family, friends, Facebook friends and Twitter followers.

There is no such thing as a free wedding, though: some of the restrictions that come with the Grand Prize are startling. Not only are you obligated to do all the press that comes with winning -- you're promoting Crate and Barrel, after all -- but the company and event designer get the final say on your "dream wedding." From the official rules page:

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Hate groups on the rise - it's only the economy, stupids

Andrea Chalupa — Fri, 05 Mar 2010 09:00:00 EST

Filed under: Recession, Barack Obama, Economy

The economy is driving people crazy, literally, when it comes to the growing number of hate groups in this country. The Southern Poverty Law Center (SPLC), a civil rights organization that monitors the activities of such groups, reports that the worsening recession, soaring public debt, bailouts for bankers, and misinformation -- death panels, really? -- over President Obama's attempts at health care reform are fueling the radicalism. Good thing South Carolina charges only $5 for these subversive groups to register!

"Already there are signs of ... violence emanating from the radical right. Since the installation of Barack Obama, rightwing extremists have murdered six law enforcement officers," says the report, according to the leftish English newspaper, the Guardian. "Racist skinheads and others have been arrested in alleged plots to assassinate the nation's first black president. One man from Brockton, Massachusetts - who told police he had learned on white supremacist websites that a genocide was under way against whites - is charged with murdering two black people and planning to kill as many Jews as possible on the day after Obama's inauguration. Most recently, a rash of individuals with anti-government, survivalist or racist views have been arrested in a series of bomb cases."

The SPLC says it hasn't seen this level of activity since the 1990s, when the Oklahoma City bombing in 1995 left 168 dead, including 19 children.

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Wedding dresses for cheap in New York City

Andrea Chalupa — Thu, 04 Mar 2010 18:00:00 EST

Filed under: Economizer, Family Money, How to Save Money

Even if I wasn't engaged, I would still be a fanatic of the TLC show "Say Yes to the Dress." It's one of the most soothing reality shows out there -- it doesn't make you feel depressed about humanity, like "Jersey Shore." And the setting -- a 69-year old bridal boutique in downtown New York -- is a beautiful white showroom that makes you want to sing the Rodgers and Hammerstein show tune "I Enjoy Being a Girl."

I first learned about "Say Yes to the Dress" from the New York Times magazine feature on starlet Megan Fox. She said of the show, which helps brides find their perfect dress at Kleinfeld, "I don't know why I love it, but I do ... It's really confusing to me, so I study it. They all cry when they find the dress. I don't understand why they all cry."

I grew to love the show too, just as I was in the market for a wedding dress. Here is my Kleinfeld experience along with other options for finding the perfect, affordable wedding dress in New York.

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Astrology for 2010: Susan Miller on your year for career and money

Andrea Chalupa — Mon, 08 Feb 2010 13:30:00 EST

Filed under: Family Money

I was recently having dinner with an old friend, discussing astrology over steamed dumplings. While my friend was skeptical, I insisted I believe in it.

I suggested she check out the only published horoscopes I swear by -- in Elle magazine. They have proved, in my experience, uncannily accurate. The next day I received an e-mail from Susan Miller, the famous astrologist who writes the horoscopes for Elle!

Miller invited me to cover her event, "Susan's Year Ahead 2010," an all-day program raising money for the Red Cross efforts in Haiti. Susan contacted me after running into a mutual friend at a coffee shop who suggested I might want to attend.

The very next morning, I cleared my schedule and I was there, sitting front row with editors and marketers of Elle, there to support their colleague and hang on Susan's every cheery word. (It's impossible to convey in print just how upbeat she is).

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