A.I.G. is suing the government to recover over $300 million in tax breaks that the insurance company says were improperly denied. What sort of tax breaks? The sort otherwise known as illegal Cayman Island tax shelters.
Government Policy
FTC To Require Advertisers Using Testimonials To Show Typical Results
By 3.22.09
Subway spokesman and occasional thin guy Jared Fogle may soon be out of work thanks to a new FTC rule banning commercial testimonials that warn “results not typical” or “individual results may vary.” Under the new rule, marketers using, say, body builders to advertise weight loss pills are also going to have to show an average lardass whose results might be more typical. You can guess how advertisers are reacting to the change…
iPod Mechanic Stole Over 9,000 iPods From Apple, Feds Say
By 3.21.09
An iPod repair shop, that we ripping Apple off for 9,000+ iPod shuffles. The feds charged Nicholas Woodman with jacking iPod shuffles from Apple by guessing shuffle serial numbers from a shuffle replacement site without actually ever buying the original shuffles himself.
New Jersey Sues Verizon Over "Free LCD TV" Disaster
By 3.20.09
The State of New Jersey has filed a lawsuit against Verizon, alleging that its marketing, sales, billing and customer service practices for its FiOS television, telephone and internet services are deceptive and misleading. The lawsuit is partly in response to the now-infamous “Free LCD” disaster.
Zencore Plus Recalled Because You Might Die
By 3.20.09
Activate descending slide whistle: Bodee LLC is recalling boner pill Zencore Plus because if you use it and take organic nitrates you might die. The interaction between the benzamidenafil and the organic nitrates can cause a “life-threatening” risk of a sudden and large drop in blood pressure, the FDA said in a press release, while noting that the probability of such an interaction occurring is unknown.
Battle Of The Most Hated Companies: Countrywide Sues AIG
By 3.20.09
Last year’s Worst Company in America winner, Countrywide Home Loans, has sued AIG for not paying their claim on losses from failed real estate loans that they had insured with the company.
Congress Considering Sending The IRS After AIG
By 3.19.09
The Washington Post says that the House will vote this afternoon on a bill that would seek to impose a 90% tax on the AIG bonuses. The Senate Finance Committee is also working on similar legislation, but have not yet scheduled a vote.
By 3.18.09
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Sprightly old people rock. This 78-year-old woman pursued and helped catch an armed robber in the parking lot of a mall on Long Island, NY. You can’t hide from old ladies in a PC Richard, purse snatchers of the world. [Newsday]
End Pre-Emption, Support The Medical Device Safety Act
By 3.18.09
Two recent Supreme Court cases on federal pre-emption have made a mess of tort law, confusing and endangering consumers by holding that a patient who is injured by a dangerous drug can sue the manufacturer, but a patient injured by a dangerous medical device cannot. How this happened, and what to do about it, inside.
Office Depot Employee Claims He Photoshops Price Tags
By 3.17.09
Who needs to lie about inventory when you can inflate the price directly? LAPTOP has uncovered more dirty secrets of Office Depot employees being dishonest to customers, this time by altering price tags on clearance items to incorporate the cost of an extended service plan.
Country Of Origin Labeling Officially Begins Today
By 3.16.09
The long-awaited country of origin labeling or COOL will be enforced beginning today — so you can expect to see a “COOL” on “muscle cuts and ground beef (including veal), pork, lamb, goat and chicken; wild and farm-raised fish and shellfish; fresh and frozen fruits and vegetables; peanuts, pecans, macadamia nuts and ginseng.”
Give Robocallers A Silent Ringtone And A Funny Name
By 3.16.09
You know those car warranty robocallers calling your cellphone? Of course you do, you hate them. This how reader Eyebrow McGee deals with them, and gets to have a little laugh at the same time:
Obama Announces Plans To Make Food Safe For Human Consumption
By 3.15.09
President Obama this week declared war on the Chinese Poison Train, announcing that the FDA will receive $1 billion in new funds for modern testing labs and additional food safety inspectors. Inspecting less than 5% of our food processing plants is apparently a “hazard to public health, and “it is unacceptable.” So what’s really behind the new policy shift? No, it’s not those melamine murders or salmonella outbreaks. It’s seven-year-old first daughter Sasha Obama!
Next Saturday, Let IRS Agents Fill Out Your Taxes
By 3.15.09
Next Saturday, 250 IRS Taxpayer Assistance Centers staffed with IRS agents will open their doors to anyone making $42,000 or less. With money tight for everyone this year, if you qualify, take the government up on its generous offer and let the IRS agents fill out your tax forms.
Judge To Madoff: Hope You Like The Look Of Cinder Blocks, Douchebag
By 3.13.09
No more $7 million penthouse. Today was Madoff’s first full day at the Metropolitan Correction Center, where he’ll be spending some quality time while awaiting sentencing. ABCNews has some insights about the facility and its amenities.
Sprint Lies To FCC About Ripping Off Consumer Reporter
By 3.13.09
Dan Hesse should be ashamed. Ripping off a consumer reporter and then lying to the FCC about it? Bad idea. Here’s what Sprint did to The Red Tape Chronicles reporter Bob Sullivan…
