Talk Back

Readers respond to Work & Money and Business section coverage

'Small' covers large range of businesses

I read your article "Anxious about election" in today's N&O. You seem to have made the same mistaken assumption that almost everyone has, and that is, what is a small business.

There are official definitions, and I think they will surprise you. The Code of Federal Regulations Web site gives you the official definition, based on the type of company. You will find that, if the number of employees is used as a measure, then most "small" businesses can be as large as "smaller than 500 employees" but can be as large as "smaller than 1,500 employees." If income is used, then the cap varies between $750,000 and $35 million.

If I remember my training accurately, 95 percent of companies in the United States are classified as "small business."

Pete Smullen

Raleigh

(The writer is the former director of information technology at Connecticut State Technology Extension Program.)

Don't risk retirement on stock market

Regarding "Don't hide from 401(k)" (Work&Money, Nov. 2): Thousands of people who have invested in retirement using the 401(k) vehicle have lost up to maybe half of their investment. It is not their fault. They assumed a 401(k) was a safe vehicle, but it is not. No one should depend upon the stock market as a vehicle for future retirement. Based upon what has happened at Wall Street, I am writing everyone I know and I'm sending every member of Congress a letter recommending that a bill be passed into law "prohibiting and making it illegal for 401(k) plan managers to invest in the stock market."

A.L. Payne

Raleigh

Give us some real help toward energy efficiency

By being environmentally friendly and installing a residential geothermal DX heat pump, I am adding $20,000 to the cost of a conventional system for my 100-year-old home.

First, thank you, N.C. Legislature, for providing tax credits for many energy sources, some highly experimental, but nothing for residential geothermal.

Both EPA and DOE cite geothermal heat pumps as the most energy-efficient, environmentally clean, and cost-effective systems for temperature control. I guess we know whose pocket the N.C. Legislature is in!

Second, Geothermal heat pumps are included [in the Energy Star appliance sales tax savings holiday]. ("A tax-free weekend for appliance stars," Triangle&Co., Nov. 4.) Or are they?

To qualify, heat pumps must be purchased at retail, not from an installer. This is not a project for your average DIY Warrior, and the local home improvement stores don't stock the equipment. Take that, Geothermal!

Third, Progress Energy offers low-interest energy-efficiency loans through ViewTech Financial Services, whose vice president Tim McFarland made me a great offer, 12.49 percent interest, if I qualified! What an insult!

It is time for N.C. officials and Progress Energy to find out what other legislatures and energy companies are providing. (Think out-of-the-box!) Give us something we can use.

Duane Putnam

Warrenton

Slamming preys on elderly, college students

Re: Trilegiant, it's nice to see that someone is covering this tawdry story (Cents & Sensibility column, Nov. 3). In the past three weeks, I've received two "offers" from HSBC, and one from Chase, which apparently hasn't learned its lesson from a few years ago.

Their latest ploy is to send cardmembers a check which, when cashed, enrolls them in one of these useless programs.

These dubious practices prey on the elderly and, as you mentioned, college students. The list of complaints is growing by leaps and bounds.

Hoping you keep up your excellent, and necessary, work.

Bob Dierker

Hicksville, N.Y.