The nation’s largest private employer is seeing troubling times: Wal-Mart’s core shoppers are running out of money much faster than a year ago due to rising gasoline prices, and the retail giant is worried, CEO Mike Duke said Wednesday. “We’re seeing core consumers under a lot of pressure,” Duke said at an event in New […]
Following the explosive news yesterday of Apple mobile devices recording their users every move (for background see here and here), Senator Al Franken is upset and demanding answers from Apple CEO Steve Jobs: Franken expressed special concern for iPhone and iPad users who are minors, writing that an “estimated 13% of the 108 million iPhones […]
Whenever we hear about the government trying to regulate internet providers, the right gets in a frenzy. They start screaming about “government takeover” and “interfering in private business”. Perfect examples of this can be seen in Rand Paul speeches. Now a new report shows that internet providers routinely lie about the speeds you get from […]
Elizabeth Warren has been one of the most sound voices during this financial crisis. Republicans and Democrats have both looked up to her analysis of the problems plaguing our economy and have touted her as one of the brightest minds when it comes to economics. Tim Geithner – not so much. So this story should […]
With the recession, it’s no secret more and more people are flocking to the movie theaters for their entertainment. It looks like that trend could translate into a record year for Hollywood: Movie studios began the year with January crossing the $1 billion mark for the first time ever, and box offices this month are […]
Stories like this just really give you a warm and fuzzy feeling about the insurance industry: Health insurance giant Aetna is planning to force up to 650,000 clients to drop their coverage next year as it seeks to raise additional revenue to meet profit expectations. In a third-quarter earnings conference call in late October, officials […]
According to a new study just released, 80% of consumers would not be willing to pay for access to online content: A similar study was done by the Boston Consulting Group and found only 48% of the respondents would pay for online access to news, and the average monthly price they would be willing to […]
The FTC is now going after credit reporting companies like freecreditreport.com and starting a campaign to inform people that the only authorized source under federal law to get a free credit report is annualcreditreport.com. Also they are wanting to gather any spam you may receive offering free credit reports: The FTC also wants you to […]
This is why we also need banking reform: US banks stand to collect a record $38.5bn in fees for customer overdrafts this year, with the bulk of the revenue coming from the most financially stretched consumers amid the deepest recession since the 1930s, according to research. The fees are nearly double those reported in 2000. […]
This is a real sign of the times: A small but growing number of cash-strapped communities are printing their own money. Borrowing from a Depression-era idea, they are aiming to help consumers make ends meet and support struggling local businesses. The systems generally work like this: Businesses and individuals form a network to print currency. […]