Business

Business
3:19 am
Fri June 14, 2013

Why More People Are Renting Tires

Originally published on Fri June 21, 2013 1:44 pm

"Oh, I checked every place in town, and they were outrageous," says Shannon Kelly. "It would be anywhere from $4[00] to $500, and I just don't have that right now."

Kelly had just walked into Rent N Roll, a rent-to-own tire store in Ocala, Fla. She was looking to rent a set of tires for her truck. Tire rental stores like this one have been around for a while, but until recently, most of their customers rented fancy rims. These days, it's becoming more common for the stores to rent simple tires to people who don't have the cash to buy tires outright.

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Business
11:51 am
Thu June 13, 2013

Old McDonald Might Be A Lady: More Women Take Up Farming

Lisa Steketee restocks strawberries during the Laramie Farmers Market in Wyoming, in 2009.
Ben Woloszyn AP

Originally published on Thu June 13, 2013 12:18 pm

More women are getting into farming, according to a recent analysis from the U.S Department of Agriculture.

The agency crunched numbers from the Agriculture Census and found that the number of U.S. farms operated by women nearly tripled over the past three decades, from 5 percent in 1978 to 14 percent by 2007.

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Business
11:49 am
Tue June 11, 2013

Report: Overdraft Protection Puts Customers 'At Greater Risk'

Richard Cordray, the director of the Consumer Financial Protection Bureau.
T.J. Kirkpatrick Getty Images

Originally published on Tue June 11, 2013 1:44 pm

The Consumer Financial Protection Bureau is looking at how overdraft fees affect consumers in a detailed report released Tuesday.

One of the stunning finds: "Overdraft and non-sufficient funds fees accounted for 61 percent of total consumer deposit account service charges in 2011 among the banks in the CFPB report."

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June 2013
12:23 pm
Mon June 10, 2013

What's Hot In Financial Markets Today

As a result of Joe Chornyak's recent meetings with portfolio managers, he uncovered some surprising insights as to what is HOT in financial markets today. Don't miss this video in which he shares with us his thoughts on creating the greatest opportunity over the long haul.

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Business
5:53 pm
Sun June 9, 2013

Golden Years Tainted As Retirement Savings Dwindle

Michael and Katharine Powers don't expect to be able to retire. Here, they are with two of their daughters and Michael's grandfather.
Courtesy of the Powers family

Originally published on Mon June 10, 2013 8:58 am

"I'm a carpenter/cabinet-maker/woodworker, and I think I'll be retiring the day I die."

Michael Powers, 47, is not alone in his retirement insecurity. According to a Pew study published in May, members of Generation X — aged 38 to 47 — are on track to be the first generation to do worse in retirement than their parents. Assuming they retire at all.

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Business
8:14 am
Fri June 7, 2013

What Will Jobs Report Say? Slow Growth Is Best Bet

Spencer Platt Getty Images

Originally published on Fri June 7, 2013 10:41 am

There was modest job growth once again in May even as the nation's unemployment rate ticked up, the Bureau of Labor Statistics reported Friday.

According to BLS:

-- 175,000 jobs were added to public and private payrolls last month, slightly more than economists had expected.

-- The jobless rate rose to 7.6 percent from April's 7.5 percent. That rate can rise even as more jobs are added because the size of the labor force has also gone up.

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Business
10:31 am
Thu June 6, 2013

Microsoft, FBI Say They've Disrupted $500 Million Botnet

Buttons with the Microsoft logo are seen at a Comp USA store in 2007.
Justin Sullivan Getty Images

Originally published on Thu June 6, 2013 12:11 pm

Working jointly with the FBI, Microsoft says it has disrupted a botnet responsible for stealing more than $500 million from bank accounts worldwide.

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Business
9:54 am
Wed June 5, 2013

Jobs Outlook Is Brighter For Class Of 2013

Graduates of Bowie State University wave to friends and family at the school's graduation ceremony in College Park, Md., on May 17. This year's graduates are finding better job prospects than at any time since 2008.
Chip Somodevilla Getty Images

For the last five years, graduation day has been as much a time for apprehension as for celebration.

Even now, with the Great Recession over, many recent graduates are still struggling to turn their high school and college diplomas into tickets for a better life. The unemployment rate for Americans under age 25 remains more than double the overall rate of 7.5 percent.

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Business
7:33 am
Mon June 3, 2013

Book News: Apple Vs. DOJ As Ebook Price-Fixing Trial Begins

An Apple store in Beijing, China opens.
Feng Li Getty Images

The daily lowdown on books, publishing, and the occasional author behaving badly.

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FINANCIAL NEWS
12:28 pm
Fri May 31, 2013

Preparing for Medicare Enrollment

With all the options available to you, the Medicare enrollment process can seem overwhelming, especially if you leave important decisions to the last minute. Commonwealth Financial Network provides the following advice to ease any potential discomfort about making the correct choices.

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April 2013
12:19 pm
Fri May 31, 2013

Financial News From Chornyak & Associates

Where should we place our emphasis in savings and investment?  It's a question that we at Chornyak & Associates face frequently. The website Consumerism Commentary looks at both sides of the issue and comes up with some sound thoughts.  The answer?  It's a "moveable goal." 

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Business
9:04 am
Thu May 30, 2013

New Data Confirm The Economy Isn't Growing As Fast As Hoped

Originally published on Thu May 30, 2013 10:57 am

The U.S. economy grew at a 2.4 percent annual rate in the first quarter, the Bureau of Economic Analysis reported Thursday morning.

That basically confirms what the agency said a month ago, when it released its initial estimate for gross domestic product growth in the quarter. Then, it reported the economy had expanded at a 2.5 percent pace.

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Business
3:02 am
Thu May 30, 2013

How A Trip To Costco Can Work As An Investment Strategy

A recent trip to Costco cost NPR's Uri Berliner $303.53. The haul included razor blades, cans of soup and tuna fish, laundry detergent, heartburn relief medicine and dog treats. As an investment, it will pay off if he uses what he bought — and if the price tag for the same items is higher if he returns in a year.
Mary-Elizabeth Berliner

Originally published on Thu May 30, 2013 8:19 am

NPR's Uri Berliner is taking $5,000 of his own savings and putting it to work. Though he's no financial whiz or guru, he's exploring different types of investments — alternatives that may fare better than staying in a savings account that's not keeping up with inflation.

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Business
10:49 am
Wed May 29, 2013

Personalized Coca-Colas, But Not If Your Name Is Mohammed Or Maria

Originally published on Thu May 30, 2013 11:53 am

Remember the disappointment you felt as a kid at the souvenir shop when that personalized key chain wasn't available in your name? For me, it was never finding "Allison" with two L's. My colleague Maria says she was always stuck with "Mary" as her only option.

Facebook fans of Coca-Cola's new "Share a Coke" campaign are having similar frustrations. As part of its new campaign, which recently launched in Europe, the soda giant is printing popular first names on labels of Coke, Diet Coke and Coke Zero.

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Business
2:54 am
Wed May 29, 2013

Natural Gas Export Plan Unites Oregon Landowners Against It

Rancher Bill Gow doesn't want the proposed Pacific Connector Gas Pipeline to travel across his Douglas County, Ore., ranch. While he has refused to negotiate with the pipeline company, ultimately a court may force him and other landowners to allow the project on their land.
Jeff Brady NPR

Originally published on Wed May 29, 2013 10:47 am

A radical shift in the world energy picture is raising environmental concerns in the United States.

Until recently, the U.S. had been expected to import more natural gas. But now, because of controversial technologies like "fracking," drillers are producing a lot more domestic natural gas; so much that prices are down, along with industry profits. And drillers are looking overseas for new customers.

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Business
2:54 am
Wed May 29, 2013

Once A Boon For Investors, House Flipping Is Back

This home in the Glassell Park neighborhood of Los Angeles was bought by Dossier Capital for $390,000, records show. It's now listed for more than $720,000.
Courtesy of Dossier Capital

Originally published on Wed May 29, 2013 10:47 am

House flipping is back.

A popular phenomenon during the housing boom, flipping is when a house is bought and sold within a six-month period. Flippers are real estate investors who buy houses, fix them up quickly and then resell them, making money off the renovation. In parts of California, it's happening at some of the fastest rates in a decade.

At a recent open house in Glassell Park, a neighborhood in northeast Los Angeles, curious buyers and neighbors streamed into a green stucco house that had just come onto the market.

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Business
11:13 am
Thu May 23, 2013

Bernanke Hints That The Economy Still Needs Help

Federal Reserve Chairman Ben Bernanke during his Capitol Hill testimony Wednesday before the Joint Economic Committee.
Alex Wong Getty Images

Originally published on Wed May 22, 2013 11:37 am

In the nearly impenetrable language that comes with his job, Federal Reserve Chairman Ben Bernanke told Congress on Wednesday that even though the economy is doing better, the central bank needs to keep giving it a boost.

The key passage from his prepared testimony:

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Business
11:11 am
Thu May 23, 2013

Judge: Unredeemed Borders Gift Cards Are Worthless

Customers walk out of Borders on July 22, 2011, in San Francisco, Calif., as the chain began liquidating.
Justin Sullivan Getty Images

Originally published on Thu May 23, 2013 8:34 am

If you were hoping to cash in that Borders gift card for the latest Dan Brown novel — or at least hoping to get some cash for it — you're too late.

A Manhattan federal judge on Wednesday ruled that the bankrupt and defunct book chain owes nothing to the roughly 17.7 million people who hold $210.5 million in unredeemed gift cards.

U.S. District Judge Andrew Carter says it would be unfair to Borders Group's other creditors to let gift-card holders pursue recoveries, Reuters reports:

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Business
3:07 am
Wed May 22, 2013

Why Apple (And Lots Of Other Companies) Wound Up In Ireland

Andy Wong AP

Originally published on Wed May 22, 2013 9:35 am

Apple was criticized in a Senate committee hearing Tuesday for using complex accounting to minimize the corporate taxes it pays. One key piece of the company's tax strategy: It funnels lots of its profits through subsidiaries in Ireland.

Offering low corporate tax rates has been a fundamental part of Ireland's economic strategy for decades — a way to get foreign companies to set up operations in the country.

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Business
4:24 am
Tue May 21, 2013

CEO Cook To Defend Apple Before Senate Committee Hearing

Apple CEO Tim Cook speaks during an introduction of the iPhone 5 in San Francisco on Sept. 12. The Senate Permanent Subcommittee on Investigations says Apple is paying billions of dollars less than it should in taxes each year, taking advantage of technicalities in U.S. and Irish tax laws.
Eric Risberg AP

Originally published on Tue May 21, 2013 11:13 am

Giant technology firm Apple is paying billions of dollars less than it should in U.S. taxes each year, according to a report by the Senate Permanent Subcommittee on Investigations. In a hearing Tuesday in Washington, D.C., Apple CEO Tim Cook will defend the company.

The subcommittee's report says Apple avoids the tax payments mainly by shifting profits to three subsidiary companies in Ireland. The investigation found Apple is taking advantage of technicalities in U.S. and Irish tax laws to avoid paying any tax on a huge portion of its profits.

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