We received a tip today that Bank of America supposedly plans to close nearly all of its customers’ credit cards on October 1st, but the only source we can find for this rumor is a single post at iReport.com, CNN’s public journalism free-for-all. Everything else online that mentions this is traced back to that one short post. So, until we find out more, we’re going to say this one is bunk—and a great example of how wild rumors can pop up during desperate times. (Thanks to Joseph!)
There’s a heated debate going on over at a blog called “Cake Wrecks” about whether or not this cake can possibly be “real.” We’re feeling extremely skeptical ourselves, but the blog’s author swears up and down that the pictures came from a real (outraged) bride who really hired a member of the family who was supposed to be a “professional with tons of experience” to make her wedding cake.
At the risk of inviting another pointless “this pizza is better than that pizza” debate in the comments, we feel it is necessary to inform you that Uno has run into some nasty looking debt problems and some people are speculating that they may be the next restaurant chain to go under.
The Wall Street Journal would have you believe that devastated Starbucks-lovers all over this nation are launching campaigns to try to save their “beloved” Starbucks. We’re not entirely sure that we believe this based on the single example given in the article, but we’ll play along…
Behold! A map of the Starbucks locations that are rumored to be closing. If you know of a location that’s getting the ax, you can submit your information to the Seattle Times. [Seattle Times via Starbucks Gossip]
MarketWatch says that Wal-Mart is “very interested in expanding into installation and repair services in its fast-growing electronics segment.”
What does the XM-Sirius satellite radio merger mean for XM customers? Well, according to one customer service rep, it means mean prices are going to roughly double in May. Here’s what she said to one of our tipsters:
This is strictly confidential, but all the paperwork is signed and ready to go, and XM has fully acquired Sirius Radio. Come May, there will be a substantial price increase for XM Radio, as it will, in June or so, host all the Sirius channels. It would be best to simply extend your XM plan as we will honor your current contract price per month before we begin hosting the Sirius stations.
The tipster said he believed she said the price was going to double. Perhaps the customer service rep just wanted to score a renewal, but if true, it would certainly at least be ironic considering when the DOJ approved the deal was they said, “the evidence did not show that the merger would enable the parties to profitably increase prices to satellite radio customers.” However, reader comments on this post and this post over at Orbitcast say this customer service rep is full of pure baloney.
Rumors on the Internets: T-Mobile may be consider buying Sprint in order to keep the company from lowering its prices and triggering a price war, says Merrill Lynch. “In such a price war scenario, we think T-Mobile would face the most pressure, and Deutsche Telekom would see the increased urgency to drive market repair,” the firm’s analysts said.
An anonymous AT&T employee who says to call him “Vernon” wrote in to tell us that starting next Tuesday, March 11th, some customers in the Southeast who call in to make a payment will be charged $5, with the fee going nationwide by May. He writes, “I feel this is taking advantage of our customers’ trust, because even when we put it on all of their bills, and let people know, there will be tons of reps that won’t let the customer know they’re being charged for taking their payment.”
Marketwatch says that Bank of America is in “advanced” talks to acquire Countrywide. No word on if said talks took place on Vader’s Star Destoyer or on Captain Hook’s pirate ship. Bank of America already bailed out Countrywide last year, chucking $2 billion into the troubled mortgage lender in exchange for preferred securities that could be converted into stock at $18. Countrywide is currently trading at around $7.75.
Anyone else get a call from Chase about their credit cards?
I thought I would pass along a problem I ran into today. I received a couple phone calls from Chase Bank fraud department concerning 2 credit cards I have with them (Amazon Visa and Chase Freedom Card). They reported (in a separate call for each card) that both cards are suspected of being compromised and that they are being closed.
Rumor has it that CompUSA could be closing down for good immediately following the holidays. UPDATE: This has come true: CompUSA Will Close All Stores After Holidays
Rumors are flying that Stanley O’Neal is being forced to step down after a disastrous third quarter— making him the most prominent casualty of the subprime meltdown.
The Wall Street Journal has it in their pretty little heads that AT&T is in the market for either EchoStar or DirecTV. And hey, why not? AT&T owns everything else.
Comcast’s download limit is 200 gigabytes, but the limit isn’t everywhere, a former Comcast employee told The Consumerist. Places where the network isn’t optimal, due to old hardware or too much traffic, like the Bay Area, will run into the limit. Places like Philadelphia will never run into the problem.
A tipster tells us FedEx’s website has been malfunctioning for the last two days, resulting in hellish lines at the stores. It might be a good time to visit the FedEx Kinkos store that is furthest from other forms of intelligent life.
AT&T experiencing coast-to-coast data service outages, reader Michael writes, with users unable to connect to EDGE via iPhone or use data via Blackberries. Reportedly, it should be fixed within 1-2 hours. (P)
Best Buy is on the offense, launching an internal witch hunt to unmask the “rogue employees” responsible for exposing Geek Squad’s pervasive culture of porn pilfering. Their first victim is the Geek Squad supervisor of the Santa Clarita store, one of the only Best Buy locations whose former employees were quoted in recent articles, print as being a center for porn pilfering.