Hybrids are all the rage right now but fuel costs aren’t the only thing you should be thinking about. After taking into account repairs, maintenance, and financing, these 10 cars offer great deals.
economy
4 Ways To Cope With Frustrating Airline Cutbacks
By 8.25.08
What should you do when your airline calls to let you know that they’ve decided to randomly cancel your flight? Travel guru Christopher Elliott gives us the following nightmare scenario:
Expect Fewer Deals At Home Depot, Lowe's
By 8.25.08
Home Depot and Lowe’s are starting to realize that the surging housing market — which had fueled their own sales for the last few years — is really and truly over and it may not be coming back for a good long while. What does this mean for their customers? An emphasis on lower prices every day — and fewer promotions.
United's Pilots Would Like You To Help Them Fire Their CEO
By 8.12.08
United Airlines’ pilots have had enough of Glenn Tilton, the CEO of United, and have started a website that calls for his resignation. In addition to listing Mr. Tilton’s various faults, the website asks you, the consumer, to help them by submitting your United Airlines horror stories. (CC: The Consumerist, naturally…)
'99 Cents Only' Store Chain Considers Raising Prices, Changing Sign To '99 Cents, Orly?'
By 8.8.08
[It is] definitely on the table. That is something we’re looking at . . . in the future for us. We’re looking at doing some experiments. Obviously one way [is that] you can start selling things for $1.05, $1.09, $1.15 and other ways. You could have more of a break between your 99 cents price point and the next price point.”
Not Good: Fannie Mae Loses $2.3 Billion
By 8.8.08
Fannie Mae is the nation’s largest mortgage finance company and it’s just not doing too well, says the AP. Increasing losses from foreclosures are wiping out Fannie’s revenue.
Homeowners In Denial: Everyone's House Is Worth Less Except Yours
By 8.7.08
According to a new survey from Zillow.com, Americans are totally out of touch with reality when it comes to their homes. 62% of homeowners surveyed said they thought their homes had appreciated in value over the past year. In fact, only 19% of homes in the US increased in value, and 77% actually decreased in value. (5% stayed the same.)
The Subprime Meltdown Will Be Nothing Compared To The Prime Meltdown
By 8.4.08
James Dimon, the chairman and chief executive of JPMorgan Chase, is not optimistic about the mortgage market. He told investors that he expects the losses mortgages given to people with good or excellent credit to be “terrible.” According to the New York Times, “The first wave of Americans to default on their home mortgages appears to be cresting, but a second, far larger one is quickly building.” How can this be?
So, How Much Money Are Banks Borrowing Thanks To The Mortgage Meltdown?
By 8.1.08
Here’s a graph from the Federal Reserve Bank of St. Louis that shows, historically, how much money banks have borrowed from the Federal Reserve.
Unemployment Seeps To 5.7%
By 8.1.08
The light in the American economy grew murkier in July. Real wages remain stuck in a fetid mire, up only 2.8% from a year ago, while methanous pockets of inflation bubble floated above to 5%. Rubbing up against declining consumer spending, the economy shed 51,000 jobs in July. The unemployment rate slinked up to 5.7%, a four-year high. However, that was 24,000 fewer jobs slithering away than economists, licking their lips and blinking their eyes, expected.
Bush Signs Massive Mortgage Relief Bill
By 7.30.08
President Bush signed a massive mortgage relief bill that will help hundreds of thousands of homeowners refinance their unaffordable mortgages into fixed rate government backed loans rather than lose their homes to foreclosure. The bill also put tighter reigns on Freddie and Fannie, says the Associated Press.
By 7.30.08
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Finishing second in the Worst Company In America contest hasn’t slowed down Comcast’s money making machine. Their profits rose 7% thanks to telephone and high-speed Internet services. They’re adding customers and making more money per customer, thanks to bundling, says Bloomberg. “…Average revenue per customer rose 8.6 percent to $109.66 as it sold packages combining its services.” [Bloomburg]
Bennigan's Files For Chapter 7 Bankruptcy, Closes Restaurants Nationwide
By 7.29.08
Bennigan’s all around the nation have abruptly closed today, after the chain’s parent company filed for bankruptcy. The Chicago Tribune
Sorry Telcos, Landlines Are Now A Luxury Expense
By 7.28.08
But in this first real slowdown of the wireless age, consumers seem to be saying that home-based telephones are expendable luxuries, like Starbucks lattes or Coach handbags. And it makes sense. Confronted with high inflation, soaring energy costs, and stagnant wages, millions of households are facing choices about which monthly bills to pay and which commitments to maintain. And if it comes down to one or the other, the mobile or the home-based land line, it’s clear which is a necessity and which is an option.
U.S. Foreclosures Double: 1 in Every 171 Households Affected
By 7.25.08
Hmm, wasn’t this housing bubble crap supposed to be slowing down? Guess not. The foreclosure numbers for last quarter are twice as bad as last year according to the new numbers from RealtyTrac (a firm that tracks foreclosure filings.) 1 in every 171 households nationwide was foreclosed on, received a default notice or was warned of a pending auction in the second quarter of 2008. Bloomberg says this is an increase of 14% from last quarter and an increase of 121% from this time last year.
By 7.24.08
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Bad News: Sales of existing homes slide to a 10-year low, despite a drop in prices and a glut of available homes. [Reuters]
By 7.24.08
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Tragic: A woman facing foreclosure commits suicide, faxes note to her mortgage company that said “by the time they foreclosed on the house today she’d be dead.” [Boston]
By 7.23.08
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100 billion dollar bills from Zimbabwe will get you a loaf of bread in that country, or $80 from a collector on eBay. “Official inflation is quoted at 2.2 million percent but independent finance houses say it’s closer to 12.5 million percent.”[AOL]
