Known for squelching past employee unionization efforts, Wal-Mart is striking back against organizations that back current strike and picketing actions at its stores. Wal-Mart Stores Inc. filed an unfair labor practice charge against the United Food and Commercial Workers … [Read more...]
Obama, Congressional Leaders Meet for Tax Talks
President Obama stressed urgency Friday morning when meeting with congressional leaders in the White House Roosevelt Room to discuss strategy to avoid the looming “fiscal cliff” of spending cuts and tax hikes set to occur Jan. 1 without legislative action. … [Read more...]
Bernanke: Banks Tough Credit Standards Hurt Economic Recovery
Federal Reserve Chairman Ben Bernanke said “overly tight” mortgage standards are “slowing the revival in housing and impeding the economic recovery,” in a Nov. 15 speech in Atlanta. Bernanke acknowledged the tightening of credit standards was appropriate following the lax lending … [Read more...]
Supreme Court Says Plaintiff Can’t ‘Mix and Match’ Laws to Sue Government
In its first opinion of the new term, the Supreme Court said two laws cannot be combined in order to sue the federal government for monetary damages. The unanimous decision may have sunk lawyer James Bormes’ efforts to seek financial damages from the United States for failing to … [Read more...]
Walmart Goodies Launches
WalMart Stores announced its official launch of a new subscription service called Goodies. The new service allows consumers to try new foods through sample packages mailed to their homes. The new service costs $7 per month, but that includes taxes and shipping charges, so it is a very … [Read more...]
Card Issuers Spending Less Time, Money Marketing on College Campuses
There was a time, not long ago, when college students were bombarded with offers of credit. Students walking to class might be offered free T-shirts, coupons for free meals, school logo items such as stickers, magnets, balls and binders, or even entry into drawings for free spring … [Read more...]
Facebook Stockholders Expected to Dump Stock
Facebook (FB) stock is expected to take a big hit Wednesday when existing stockholders sell off a huge quantity of shares, but the message the stock market sends to onlookers may be the wrong one. The share dump everyone expects to happen tomorrow has nothing to do with Facebook's … [Read more...]
Preliminary Approval Granted for $7.2 Billion Credit Card Fee Settlement
In spite of dozens of objectors, representing literally thousands of retailers nationwide, U.S. District Court Judge John Gleeson of Brooklyn, New York granted preliminary approval of what will become a landmark settlement agreement between retailers, payment networks and nine major … [Read more...]
Mobile Ticket Buying Saves Commuters Time and Money
Massachusetts Bay Transportation Authority (MBTA) recently rolled out a mobile phone application that allows commuters to purchase tickets for the commuter rail lines in the MBTA system. MBTA officials cited not only time savings and convenience for commuters as benefits, but the new … [Read more...]
Online Card Comparisons Accept Kickbacks for Recommending Credit
New studies provide evidence that credit card comparison Web sites may not be completely legitimate. The sites allow consumers to describe their financial situation and credit needs, then—supposedly—a personalized list of cards that best suit the customer’s needs is provided—usually … [Read more...]
Obama Invites Lawmakers to White House Tax Talks
Has an olive branch been extended in Washington? In a Nov. 9 press conference President Obama told Republican lawmakers he was “open to compromise” in order to solve the nation’s approaching fiscal cliff debacle—when massive spending cuts and expiring tax cuts will simultaneously … [Read more...]
Is ESPN worth $40 Billion?
When a company announces earnings that meet analysts' expectations and still get penalized by having their stock price tank, something doesn't seem right. That is exactly what just happened to the company that has what is considered to be the 13th most powerful brand in the world, … [Read more...]
Texas Philanthropist Alleged to Launder $600 Million for Mexican Drug Cartel
A former Carnegie Mellon University trustee pled not guilty Nov. 8 to charges of laundering more than $600 million on behalf of a Mexican drug cartel. Marco Antonio Delgado, who has most recently served as a Texas attorney, allegedly conspired with the Milenio cartel out of … [Read more...]
President Obama and Speaker Boehner Speak Out on Avoiding the Fiscal Cliff
This week's announcements from President Obama and Republican Speaker of the House John Boehner, regarding how to tackle tax increases were aimed at positioning their stance on the issue, while leaving room for compromise. While there seems to be some of the same old points of … [Read more...]
MasterCard Launches LCD Credit Card
MasterCard, in conjunction with Standard Chartered Bank’s Singapore division, is launching a new type of credit card technology, guaranteed add an extra level of security. The card features a built-in LCD display and touch screen functionality that allow the cardholder to key in a … [Read more...]
JC Penny Sales Tumble Amid Identity Crisis
Once considered a pioneer in large scale retailing, JC Penney has been on the ropes in recent times, with sagging sales, a new CEO at the helm and a major corporate overhaul underway. … [Read more...]
Walmart Announces Black Friday Sales to Start Earlier on Thanksgiving
Wal-Mart Stores Inc. announced it will not only move its 2012 Black Friday sales earlier into Thanksgiving evening, but guarantee some sale products to any customers waiting in line at a certain time. The first round of bargains will start for Wal-Mart shoppers who are brave enough to … [Read more...]
Tech Trending Toward Mobile, Away from PCs
An article in today's Infoworld was quite bearish on Microsoft in light of recent trends, and they dumped a lot of the blame on Microsoft CEO Steve Balmer. Citing the flagging results turned in for the first fiscal quarter of 2013, the article rightly points out that while the overall … [Read more...]
Dollar Weakens, Futures Drop on Eve of Obama Re-election
The U.S. dollar weakened Tuesday night when President Barack Obama’s re-election was called victorious by several television news networks. Under continued Obama leadership, economists speculate U.S. currency will continue to weaken as monetary stimulus policies continue. The … [Read more...]
Fuel Black Market Emerges in Sandy Aftermath
The immediate reports of goodwill following Hurricane Sandy have given way to a more sinister sort of post-disaster phenomena: Opportunism. Residents of the Northeast—particularly New York and New Jersey—must scramble to find fuel, the most sought-after commodity in the superstorm’s … [Read more...]
