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A bipartisan group of senators recently proposed a plan for a decrease in spending and increase in taxes, subsequently endorsed publicly by President Obama. The plan calls for $3.7 trillion in debt cuts.
Though Republicans initially refused to budge on their insistence for tax cuts, the newest proposal has elements that appeal to both sides. Most importantly, it appears as though Congress will be flexible enough to get a deal done at some point, despite resistence by House Republicans.
It is important to keep an eye on this issue and how it affects the financial markets in the meantime, especially because the new plan has the potential to impact certain industries.
With the United States government having only until August 2nd to raise the nations borrowing limit or risk defaulting on its debt, Obamas immediate support is crucial to our nations economy.
According to a report over the weekend, recently displaced NHL franchise the Atlanta Thrashers have yet to refund their season ticket holders. The fans bought the tickets with the assumption that the Thrashers would be playing the upcoming season in Atlanta. They have since moved to Winnipeg, the financial success of which is another business story for another day.
The report, coming from WSBTV in Atlanta, claims that numerous fans have yet to receive their refunds, despite promises that they should have gotten their checks in the mail already. Needless to say, the fans, which already lost a beloved team, were not happy about how the divorce has transpired.
Its unfortunate that sports franchises do not appreciate their fans as much as they should. The fact is, sports teams make money off of so much more than selling tickets. There are revenue streams merchandising, marketing, and TV deals just to name a few. Many industries are solely reliant on a core customer base, which often leaves sports fans out in the dust.
Apparently, Google isnt satisfied with being the biggest web-search company in the world. Googles extraordinary growth since its inception has led the company to incorporate much more than just a search engine to its repertoire, and now it is tackling the social networking front.
The Facebook competitor, named Google , will attempt to incorporate its social networking service from a new angle. Google is unique in the sense that it allows users to post information for specific groups that they think the information works best for. It also has a feature called Hangouts with which users can hold video conferences and group chat rooms.
Google released their new social networking service yesterday, so we will have to wait and see if it propels them further towards industry dominance.
Tim Pawlenty, the ex-governor of Minnesota and Republican presidential candidate for 2012, has made headlines recently for his proposed tax cuts.
Left-wing democrats were never exactly pleased with the Bush tax cuts to begin with, and the Pawlenty proposal is even more extreme. According to a Bloomberg article by Richard Rubin, the top 0.1 percent of the American tax bracket would save an average of $1.4 million under Pawlenty's plan
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Groupon, one of the most innovative deal-of-the-day websites, officially announced its intent to go public yesterday. Groupon filed with plans to raise up to $750 million in their initial public offering.
Groupon has seen extraordinary growth in the past two years, but unfortunately for them, so has the industry they are in, which has few, if any, barriers for entry. Therefore, Groupon now has numerous competitors all trying to fight for the same market, not to mention even newer companies like Yipit, who go one step further by collecting data from different deal sites and finding the best, personalized deals
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Its been a slow news weekend around the United States, especially on the business front, but Memorial Day can have that effect on the country. Going instead with a rather unconventional business story, some news was released today that The Hangover Part II had a record-breaking weekend.
The blockbuster Warner Bros. hit has already earned well over $100 million domestically to break the previous record for a live-action comedy. Reviews for the movie have been far from fantastic, as the film currently holds an unenviable 35% rating on Rotten Tomatoes
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Take a look at this article if you haven't seen it already. It does a great job explaining the basic principles of finance while putting them in terms that both financial experts and the financially ignorant can understand.
One thing about credit cards though: be aware if you sign up for a points rewards program. For example, if you're signing up for a rewards program that awards points towards gas or airplane miles, then make sure you are going to be using the points
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A lot has happened in the business world over the past two weeks, but today some intriguing news broke regarding a highly-publicized lawsuit against Mark Zuckerberg and Facebook.
Anyone who saw the blockbuster film The Social Network knows all about the controversy surrounding the creation of Facebook.com, even though the movie reportedly took a lot of liberty in telling the accounts of the story
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Though lawsuits on banks are hardly a rarity in todays post-recession economy, JPMorgan can not be satisfied with what collectors are currently looking to gain off of them in court.
The latest lawsuit comes from Thornburg Mortgage, Inc. who claims that JPMorgan, as well as Citigroup and others, pushed them into bankruptcy. The lawsuit asks for $2 billion in damages
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According to numerous media outlets, second quarter profits for Starbucks Corporation increased 20% compared to a year ago. Starbucks (SBUX) saw its profit rise to $261.6 million, up to 34 cents a share, 6 cents above last year.
Interestingly enough, expenses for coffee companies have increased greatly in the past year, but Starbucks combatted that by raising prices without affecting demand
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Comment by Biggnights
on 3/2011 Team Scope: Cleveland Cavaliers
Biggnights