Giving employees incentives to do a good job can go a long way in getting results, but as we learned with Wells Fargo’s recent fake account fiasco, it can also cause serious issues: hefty fines, loss of customers, and fired executives. One top banking official says the issue needs to change this culture now, and learn to balance incentives with the interests of the customers. [More]
incentives
NY Fed President: Banks Must Change Culture That Led To Wells Fargo’s Fake Accounts
By 3.21.17 — Updated: 3.25.17
Nissan Has Great Sales, Pays Out Big Incentives And Rebates To Dealers To Get There
By 10.31.16
Nissan is one of the top auto brands in the country, which is nice and all, but the owner of the country’s largest chain of auto dealers gave us a peek under the hood to explain why he doesn’t like the practices that help get it there. Namely, the company gives huge rebates and incentives to dealerships that make their sales goals. [More]
Sports Authority Bankruptcy Judge Approves Bonus Plan After All
By 9.1.16
You may remember the news from earlier this month when the bankruptcy court judge handling the case of defunct retailer Sports Authority denied the company’s request to pay a total of $2.85 million in bonuses to remaining executives. The company proposed a much smaller package for fewer executives, and apparently explained the purpose better this time, since the judge approved the package this time. [More]
Phoenix Suns Trying To Lure Fans By Offering Free Verizon Data With Each Game Ticket
By 2.22.16
When you’ve got seats to fill at a professional sports game and the team isn’t doing so hot, any bit of extra incentive to get fans to buy tickets can help. In an effort to lure tech-focused fans, the Phoenix Suns have partnered with Verizon Wireless to offer free mobile data with every game ticket purchase. [More]
AT&T Offers Switchers [Up To] $650, Two-For-One Phone Deal
By 2.15.16
Now that mobile carriers have switched from subsidizing handsets to making us buy them our own darn selves, their inducement for customers to switch is now offering to pay off what you owe to our old carrier. That could be early termination fees, or your balance from buying a device on installments: doesn’t matter. T-Mobile started the trend, and now AT&T is increasing their incentive. [More]
Anheuser-Busch Distributor Incentive Program Raises More Concerns Of A Stifled Craft Beer Market
By 12.10.15
With its $107 billion merger with SABMiller making waves and federal regulators investigating its purchase of several small distributors, one might think that Anheuser-Busch InBev would lay low when it comes to rocking the distribution boat. But that’s apparently not the case, as the company recently unveiled an incentive program that would provide distributors with a sliding scale of bonuses if most of the beer they sell comes from the brewer. [More]
Uber Passengers Can Now Earn Starwood Hotels Points With Each Trip
By 2.25.15
Uber and Starwood Hotels are teaming up in an effort to get more passengers to choose Uber over regular taxis, with a new partnership that gives riders Starwood rewards points every time they take a ride using the car-hailing mobile app. [More]
Red Cross Offers Prizes In Attempt To Spark Blood Donations
By 7.13.11
Want to donate some blood to the Red Cross to help sick, possibly dying, patients? No? How about for the chance to win a trip to Disney World? Facing the lowest donor levels in more than a decade, the Red Cross is hoping drawings get people into more of a blood-giving mood. [More]
Seattle Bar Owner Will Buy You A Steak Dinner If You Quit Chase
By 7.15.10
Don’t like Chase? You’re not alone. If you haven’t already dropped the bank but are willing to let them go, you might be on your way to a free steak dinner. [More]
J.C. Penney and Home Depot Discover Strange New Concept Called "Customer Service"
By 4.20.10
Whaaaaa? The Wall Street Journal says J.C. Penney and Home Depot have been investing in better customer service training, because apparently some egghead thinks it might increase sales. Penney started it back over the holiday shopping season, by giving cash bonuses to employees who improved their customer service scores. Home Depot should be rolling out some new improved customer interaction this month, where cashiers will ask if you found everything you needed and will call up the right department on your behalf if you didn’t. [More]
By 7.23.09
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Today, Chrysler rolled out a new incentive plan that offers rebates of up to $4,500 on most new 2009 models, targeted at drivers contemplating trading in an older model under the government’s “cash for clunkers” program. So, how do Chrysler’s “Double Cash for Your Old Car” incentives add up? Well, basically… Deals = good. Cars = Bad. [Consumer Reports]
By 5.6.09
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Chrysler is offering up to $4,000 in cash rebates for new car purchasers. The world says, “meh.” [CNN]
The New Car Deals Are Piling Up — But Do You Care?
By 4.1.09
BusinessWeek did a little math and discovered that if you lined up all the new financing deals, tax incentives and discounts — a new car might actually be cheaper than a late model used one. But do you care?
By 1.19.09
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Shaken by a huge drop in sales last month, Toyota has announced cash incentives to help move inventory, including (for the first time) the Prius. [Jalopnik]
By 10.4.07
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Don’t buy grades from your kids, cautions Kiplinger—it’s a slippery slope, and confuses the issue, which should be about achievement and investing in the future rather than turning eduction into a Rewards Program that will eventually run dry or lose its appeal. [Kiplinger]
Automakers Offer Unadvertised Incentives To Recent Graduates
By 6.23.07
Recent graduates shopping for a new car may be eligible for incentives offered by several automakers. The incentives are rarely advertised, unknown even to most dealers.
Critics Hate Pizza Hut's Book It! Reading Program
By 3.7.07
We’re generally pretty damn cynical about, well, everything, but we have warm memories of Pizza Hut’s Book It! program…and we don’t even like Pizza Hut.
Dealerships Fake/Alter Customer Satisfaction Surveys To Get Marketing Money From Toyota
By 3.7.07
We recently posted about a couple who went into a Toyota dealership, got a little ticked off, and were refused a car. Not because she had poor credit or was acting a fool in the store, but because she and her husband were “in a bad mood.”
