The kids over at Consumer Reports are working on their August kitchen-remodeling story and are finding that there is less emphasis on remodeling homes with ROI in mind.
Vanity Fair’s April cover story is on Iceland’s banking massacre — detailing how the the tiny, well-to-do country committed “one of the single greatest acts of madness in financial history.”
Yesterday’s post about Borders closing down its unprofitable CD and DVD sections prompted a tip from the owner of a small music label. He says his distributor has already cut off shipments to Borders once for nonpayment (in November 2008), and on Monday the distributor warned labels that they’ll have to agree not to hold him “liable on any future shipments to Borders in case they file for bankruptcy.” Borders’ CFO left in January, which is rarely a good sign for a troubled company. And this morning, the Detroit Free Press notes that the bookseller is facing being delisted from the New York Stock Exchange. We may not have to wait long to find out; CEO Ron Marshall is hosting a conference call with analysts and investors next week.
The Minneapolis Star-Tribune has a fascinating article about real estate speculation in Minnesota. The article focuses on Bradley and Sarah Collin, a couple with three children who were living in a trailer park when they were suckered by a local “property management company” that (illegally) paid the couple $20,000 cash to buy 4 houses in a new subdivision.
On Tuesday we speculated that the surge in credit card fraud and forcible card reissues our readers have been reporting to us were the result of a recently discovered breach at a “major retailer,” and now GE Money Bank reported that the data of over 650,000 customers of JC Penney and hundreds of other retail stores is missing. Are these two events related? The official line is no. GE Money Bank says the data, which was stored on magnetic tapes, “was created in such a manner to make unauthorized access extremely unlikely and difficult, even for experts with specialized knowledge and technology.” But guess what?
Silicon Era has posted a great expose of Game Quest Direct, a once-retail video game chain that hit it big by acting as a bulk republisher of particularly sought-after games. Inspired by the absolutely mad eBay prices on games like Disagaea or Resident Evil 3 for the Gamecube, these guys decided to strike up deals with the publishers to get these games back in circulation at a reasonable price. The problem? The very same gaggle of eBay speculators who inspired GCD’s business are now calling foul: