To hybrid or not to hybrid. As a car buyer, you look at the sticker prices and gas mileage stats for two similar cars. One (the hybrid) is more expensive but gets better mileage. The other is cheaper to buy, but you’ll have to fill ‘er up more often. So you’re left wondering: Is it worth it to pay more upfront for the hybrid?
Wall Street’s not so-secret profit engine (the Fed)
Henny Sender has a story in the FT about the fact that Wall Street firms have been making lots of money trading with the Federal Reserve. I can think of two valid reactions to this:
1) No duh! Ensuring the health (a.k.a. profitability) of the financial system is a major responsibility of the Fed. The financial system was near collapse …
Recession Ride Taxi Service: “Pay What You Want”
Eric Hagen may be the nicest cab driver ever. Perhaps he’s the smartest too. A full-time employee at the American Red Cross in Burlington, Vermont, Hagen recently started a new business: Recession Ride Taxi. He printed some business cards, and put the words “Pay What You Want!” on the back of the SUV that doubles as his taxi.
Cash for Clunkers: Cash In While You Can
The Cash for Clunkers program has worked all too well, burning quickly through the initial $1 billion allotted to consumers trading in old cars for more fuel-efficient models. Another $2 billion appears to have been approved for the program. But is this is a success for the economy? Or just for some car buyers who are basically getting a …
What Will a Cheapskate Spend Good Money On? Part VIII
When a cheapskate drops cash on something, you know it’s worthwhile. After a brief hiatus in the series of posts that explore what seriously frugal folks will spend good money on—and when cheap is the way to go—here’s another entry, from Gary Foreman, editor of The Dollar Stretcher.com.
The Nap: Another Great (and Free!) Recession Stress Reliever
A Times story cites a report that one in three people admit to napping on a typical day. “Admit.” As if napping is a bad thing.
Larry Summers, fruit fly
Holey moley. I missed this when economist Willem Buiter posted it on his FT.com blog a few days ago. He says the front-runners for the Fed chairmanship when it comes open next year are incumbent Ben Bernanke, SF Fed President Janet Yellen and Larry Summers, then writes:
Both Bernanke and Yellen are qualified for the job. Summers is
…
How Desperate Are Retailers? They’re Already Wishing Shoppers a Merry Christmas
It’s the retail equivalent of jumping the shark: Stores such as Sears, Kmart, and Toys “R” Us are already trying to merry up their sales with Christmas displays, online Christmas specials, and “Christmas in July” sales.
Career Thrown Off Track? Ten Ways to Reinvent Yourself (Some of Them Serious)
The recession has lasted longer than any in history—certainly long enough for the unemployed millions to realize that their old jobs are gone for good, and that it may be time to make some dramatic career shifts.
New column: The pay crackdown
My new column, on Washington’s campaign to regulate executive and Wall Street pay, is online. It’s got a lot of Lucian Bebchuk in it, and this morning Bebchuk is at it again, with a WSJ.com op-ed (co-authored with his Harvard Law School colleague Alma Cohen) making the case that it appears banks have actually gotten more generous in …
What the Success of a $5 Slice of Pizza Means
People will pay for quality. Even during an economic crisis. Even when the people involved are self-described cheapskates.
It’s a Deal: Free Mars Bar on Fridays
Candy manufacturer Mars is hosting a “Real Chocolate Relief Act.” When you register at its site, you can print out a coupon for a free candy bar every Friday through the end of the summer (max four coupons per household). More details here.