"It is alarming the President Advisory Council on Financial Capability (PACFC) recently issued Tool titled "Money As You Grow" (http://www.moneyasyougrow.org) has disclosure notices at all when other Tools like those developed by the Jumpstart Coalition, NEFE and mymoney.gov do not," said Sam X Renick, a nationally recognized expert in the field of financial education for youth, creator of children's character Sammy Rabbit, and founder of the It's a Habit Company (http://www.facebook.com/itsahabit). "It is also hard to understand why the website has an information notice explaining the President and PACFC's role in this Tool, as well as a disclosure notice regarding the general nature of the information being provided by the Tool, yet the Poster when printed has neither."
"As stated in a prior press release (see reference 1 below), Sammy Rabbit and the It's a Habit Team have numerous questions regarding the Tool."
"Another issue that lacks clarity relates to the Council "developing," promoting and asking others to promote its Tool. That appears unusual since Councils typically advise and do not enact. It appears from the Tool's website and Executive Order 13530 the Council is authorized to advise on ways to promote financial capability versus actually developing tools to promote it."
"Development is generally the type of work contractors of all sizes compete for, normally subject to Federal Procurement Regulations, under Full and Open Competition, to a specific set of standards or requirements. The Federal Procurement process and Regulations are highly structured and disciplined. And, they rightfully distinguish between research and testing. Testing is also an issue with the Tool's development. It is unclear what testing the Tool in its present adapted form has undergone. I suspect the U.S Military would not promote planes nor would parents promote baby aspirin that had been drawn from research but had not been tested in its current adapted form. This specific issue could easily be resolved by identifying on the Tool's website the testing, language and sentence trade off studies and outcomes the Tool has undergone and produced. The process that permitted this Tool to be issued appears not only poor from a development perspective but it is extremely unfair and disadvantageous toward entrepreneurs and small businesses because Full and Open Competition was not solicited."
"Being a good consumer requires one to compare, contrast and ask lots of questions before buying, embracing or promoting anything. Yet, the Council and members of the media are asking consumers, users, and potential users to embrace and promote the Tool before comparing, contrasting and asking lots of questions."
"Although others may not agree, which surprisingly include U.S. News and World Report's "Alpha Consumer" (see reference 2 below), Sammy Rabbit and the It's a Habit team are advising users, potential users, and consumers of the Tool to compare, contrast, and ask questions before they use and promote the PACFC Tool."
"What the Tool and reporting both need, are more clarity, transparency, testing, etc."
Contact Person: Sam X Renick
Company Name: It's a Habit Company (IAHC)
Telephone Number: 323.223.1522
Email Address: savingsammy(at)gmail(dot)com
About the It's a Habit Company (IAHC)
IAHC is an award winning small business, comprised of American entrepreneurs, who are dedicated to teaching and promoting great habits to children and families on a variety of topics including money, reading, and writing as well as other important life skills through live appearances, stories and songs from one of the world's largest and growing audio collections on financial education.
Sammy Rabbit and The It's a Habit team are proud to share:
A power point report of the research project as briefed at Children, Youth, and Families Education and Research Network (CYFER) can be found online at: http://cyfernet.ces.ncsu.edu/cyfdb_abstracts/abstracts/11831.php
Information on the project may also be found in the Journal of Family and Consumer Sciences - Spring 2010, Volume 102, Issue 2."
1.Sammy Rabbit and the It's a Habit Company, Inc. press release titled: Sammy Rabbit Has Serious Questions Regarding President Advisory Council Tool and Development. The press release can be found at: http://www.prweb.com/releases/financial/advisory/prweb9516075.htm
2.The U.S. News and World Report online column titled: Behind Obama's Financial Literacy Message. The story was written by the "Alpha Consumer" and can be found at: http://money.usnews.com/money/blogs/alpha-consumer/2012/05/21/behind-obamas-financial-literacy-message (Note: President Obama has a Council on Financial Capability)
# # #
Read the full story at http://www.prweb.com/releases/2012/5/prweb9548868.htm