Logic.
So the Federal Communications Commission is willing to modify the C-block payment plan to allow license holders to make one annual payment rather than four quarterly payments. That makes a lot of sense!
If they don’t have some of the money now then surely they will have all of it later.
Didn’t the higher ups at these companies learn about debt in college with credit cards like the rest of us?
There you are living in the dorm with your pals, free from parental control for the first time, drinking beer, staying out late, eating junky food, learning about the opposite sex and of course nourishing and enriching your brain.
Life seems as if it couldn’t get any better. But it does.
Credit card applications start arriving by the week. Visa gives you a $500 limit, Discover offers a $1,000 limit and American Express dishes up $1,200. Now you have freedom, beer, knowledge and buying power.
Now you have new clothes and ski lift tickets and CDs and a stereo and you only have to pay for all of these things a little bit at a time.
You work in the school cafeteria 12 hours a week making $5 an hour. That surely will be enough to cover the minimum payments each month.
Sure it will on the Visa and the Discover cards but it doesn’t work that way with American Express. You charged the $800 stereo system you bought to those guys and guess what … they want all of that money back at the end of the month.
Okay, so let’s pretend they make a deal with you. You have one year to save the $800 and then pay up. You make approximately $200 a month including overtime and after taxes. You pay $50 a month to each of the other two credit cards. You put gas in your car every other week to the tune of $40 per month. You spend about $30 a month on fast food and beer. You are disciplined!
That leaves $30 a month for 12 months … at the end of the year you have $360! Not even half of the money. Maybe Grandma will give you $100 for Christmas … but you are still in trouble.
And you even have an advantage over the C-blockers-income.
If the C-blockers business plans are falling apart now, and they are based on quarterly payments, what shape will the companies be in a year?
I guess maybe things will be okay if they can just convince some rich Daddy to help out.
