Read a little. Learn a lot. • Tightly-written news, views and stuff • Follow us on Twitter • Be a Facebook Fan • Tumble us!

09 Feb 2012 11:12

tags

Biz: Federal government, states agree to settle with mortgage industry

  • $26 billion "historic" settlement with the mortgage industry
  • $17B of that settlement is expected to help out more than 1 million homeowners — breaking that dow, that's an average of $17,000 each
  • 50 states could sign on as part of the settlement, making it the largest multistate settlement since the big tobacco deal in 1998
  • $2,000 the amount some homeowners who already lost their homes to foreclosure could get as part of the long-planned settlement source
  • » But is all this enough? While some will say the settlement doesn’t go far enough in addressing the concerns homeowners have dealt with in the years since the housing bubble burst, officials suggest it could provide $40 billion in mortgage relief by reducing loan principals, which would make the dollars go further. Problem is, it’s estimated that homeowners collectively owe $700 billion more on their homes than they’re actually worth. So while the dollar number sounds high, it may only be a drop in the bucket comparatively.
Posted by Ernie Smith • 0 Comments • Permalink


07 Feb 2012 08:20

tags

Biz: Empire buys Luna: Carpet companies with memorable jingles merge

  • Even if you have wood flooring, you know this song for carpet maker Empire Today — ESPECIALLY if you live in Chicago. “588‑2300 EMPIRE today.” You may also be aware of their competitor, Luna, which has a jingle of its own involving its phone number. Now, Empire has acquired Luna, ensuring that a mega corporation with multiple jingles at its disposal will be able to shake some money out of you in exchange for carpet. The brands will continue to advertise separately. Might as well — they have two distinct phone numbers! source
Posted by Ernie Smith • 0 Comments • Permalink


03 Feb 2012 17:04

tags

Biz: Mark Zuckerberg won’t enjoy his tax bill after Facebook goes public

  • $1.5 billion in taxes for the Zuck after Facebook's IPO source
  • » Why? Zuck plans to sell some of his shares: Back in 2005, Facebook founder Mark Zuckerberg received a set of new stock options for his company. With said company looking to  go public, Zuckerberg will exercise those shares before the IPO, effectively buying them at the price they were worth back then, and sell them after the IPO, effectively setting himself up for a windfall of nearly $5 billion … and one of the largest tax bills in history. It’s not like he’s gonna be broke, though — in fact, he’ll still be worth $24 billion by the end of it, much of that invested in his company. So hard for him, gotta tell you guys.
Posted by Ernie Smith • 0 Comments • Permalink


03 Feb 2012 08:43

tags

Biz: Jobs report: Economy knocks down unemployment expectations big time

  • 243,000 number of jobs added in January, according to the Bureau of Labor Statistics' monthly report
  • 8.3% the current unemployment rate, which is like, way lower than it's been in a long time source
  • » Beating expectations handily: Many experts were expecting an increase in jobs, but not one this high. This is not to say we don’t have a long way to go, just that this is a very good number, especially for the time of year, when the assumption is that seasonal jobs are ending. Even better: The economy added 200,000 more jobs last year than first thought. Sounds to us like things are starting to look up. Read the full report here.
Posted by Ernie Smith • 0 Comments • Permalink


01 Feb 2012 21:29

tags

Biz: Facebook’s SEC filing reveals the things they worry about most

  • one Facebook Mobile, unlike the normal web layout, doesn’t have ads built into the interface. Meaning as Mobile grows, ad revenue will suffer.
  • twoGame developer Zynga accounts for a whopping 12% of Facebook’s total revenue. Therefore, any trouble for Zynga is trouble for Facebook as well.
  • threeFacebook’s revenue grew by 88% last year, which they deem unsustainable. In short, that level of growth will slow down someday.
  • fourThey could be sued for copyright infringement due to content uploaded by their users; quite likely the reason they opposed SOPA. source
Posted by Chris Tognotti • 0 Comments • Permalink


01 Feb 2012 15:43

tags

Biz: New J.C. Penney CEO Ron Johnson on remaking the brand

  • I chose J.C. Penney because I think it’s the single biggest opportunity in American retailing. Inherently, department stores have significant advantages compared to all other retailers. Yet, our productivity is at the low end, and that just doesn’t make sense.
  • J.C. Penney CEO Ron Johnson • Remarks in an interview with the AP’s Anne D’Innocenzio. Johnson made news in the world of department store retail when he first took over, announcing a reduction in unique sales events coupled with a 40% across the board price cut. In this interview, he expands a bit on his plan for J.C. Penney’s future; he mentions his time with Apple frequently in the interview, as a reference point for the sort of modern imaginings that may be to come. It’s worth remembering that Johnson was the brain behind the Apple Store, the “Genius Bar” in particular, which we think says a lot about his insight on balancing design, efficiency and customer service in a retail setting. Apple just found their replacement for Johnson, John Brownett, but with the legacy he left there, we wonder how long it will be until they wish they had him back on board. source
Posted by Chris Tognotti • 0 Comments • Permalink


01 Feb 2012 10:08

tags

Biz: Pfizer recalls one million birth control packets over packaging error

  • An investigation by Pfizer found that some blister packs may contain an inexact count of inert or active ingredient tablets and that the tablets may be out of sequence. As a result of this packaging error, the daily regimen for these oral contraceptives may be incorrect and could leave women without adequate contraception, and at risk for unintended pregnancy.
  • A statement from Pfizer • Discussing their recall of one million packets of birth control medication. Phrases you don’t want to see in a story about a recall of birth-control medication: “At risk for unintended pregnancy.” The problem, described by the company as a “mechanical and operator visual inspection systems failure on the packaging line,” has reportedly been corrected already. But yeah, that’s kind of a big mistake. source
Posted by Ernie Smith • 0 Comments • Permalink


 

31 Jan 2012 15:39

tags

Biz: Petition demands humane work practices in production of Apple products

  • 35,000 sign petition for an "ethical" iPhone source
  • » And that’s just the first 24 hours: Apple’s production chain in China has gotten a ton of ink lately, exposing the dire workplace conditions and inhumane treatment that are present in the production of the iPhone (author’s note: in the interests of full disclosure, I’m an iPhone user, and am thus as guilty of neglecting these implications as anyone). In response, a petition has been circulating urging Apple to install hard and fast regulations for how their manufacturing workers are treated in advance of the release of the iPhone 5. Says the petition: “Can Apple do this? Absolutely. According to an anonymous Apple executive quoted in The New York Times, all Apple has to do is demand it, and it’ll happen.”
Posted by Chris Tognotti • 0 Comments • Permalink


29 Jan 2012 21:05

tags

Biz: Why does the FDA keep seizing imported orange juice?

  • 14% of all foreign orange juice is apparently tainted source
  • » The seized OJ contained a banned fungicide: The Food and Drug Administration has had to step up its orange juice-seizing lately, because a common fungicide called carbendazim, which, mind you, is safe in small amounts, is showing up in some of the imported orange juice. (Initially, this was reported to be a blanket ban, though the FDA says they’re only testing orange juice.) Here’s the kicker, though, from FDA spokeswoman Siobhan DeLancey: “We don’t feel that this is a safety problem. This is more of a regulatory issue.” So basically, they’re seizing a crapload of OJ because it’s got a chemical that is apparently being poorly regulated. You would assume it’s dangerous to consumers, but it’s not. Wait … we’re not following this.
Posted by Ernie Smith • 0 Comments • Permalink


28 Jan 2012 20:53

tags

Biz: Greedy investment bankers won’t carve Facebook’s IPO too heavily

  • what Investment banks looking to get in on the upcoming Facebook IPO, expected to be filed for next week, may only take a 1 percent underwriting fee on the stock offering. How abnormal is that? Usually, the investment banking underwriters take 5 to 7 percent.
  • why Simply put, Facebook is such a big deal that the competition is extremely high for it; underwriting it is seen as a prestige move. “The Facebook IPO will be iconic,” notes one investment banker who says that Facebook gets to set the rules on this one. source
Posted by Ernie Smith • 0 Comments • Permalink


 
 
top tags
older >> 
 
 

Tell these jerks what you think:

Popular Threads

Top Commenters