Banks just aren’t making the same profits they used to says the Federal Deposit Insurance Commission.
Sears Holding Company, a conjoining of two defective retail companies, Sears and Kmart, expects to lose 60% this quarter. “Come see the poorer side of Sears.” Lack of price competition, Abysmal customer service, warranty repair services contracted out to incompetent skeezebags, oh, and let’s not forget two bollixed attempts at getting jiggy with the internets only to violate customer’s privacy (exhibit A, exhibit B)… what’s there to like? That shiner looks good on you, baby, you deserve it.
High fuel prices won’t help gas station owners retire anytime soon. According to the National Association of Convenience Stores, station owners make less than one penny for every gallon pumped. [YumaSun]
Maybe not you, but someone’s been doing a lot of shopping at Best Buy this year, because they just posted higher 3rd quarter earnings than they had predicted, based on “strong sales.” Sales were $238 million versus $150 million a year ago. [Reuters]
Massachusetts Attorney General Martha Coakley last week unveiled aggressive regulations designed to curb the orgy of irresponsible lending that led to the subprime meltdown. The measures, among the strictest in the nation, enjoin lenders from profiteering or ignoring a prospective borrower’s financial situation.
According to the Chicago Sun-Times, Macy’s has cut their yearly outlook after their second quarter profits dropped 77%. What’s the big problem?
After losing the first round of Worst Company In America, Monsanto suffered from low self-esteem and decreased motivation.
Rising fuel costs for customers and Walmart itself, among other factors, led to Walmart’s first quarterly profit loss in a decade. (Thanks to Graham!)
• This guy was way ahead on the milk is especially fantastic bandwagon. [Bunnyspatial]
Amidst a looming lawsuit over its lack of service to newly incorporated AT&T customers, as well as our revelation that Cingular will no longer try to retain its most unprofitable consumers: