Perhaps the single biggest headwind the American economy faces, rivaled only by unemployment, is the dismal housing market. American’s biggest source of wealth has been decimated over the past six years, so it was no surprise …
How Obama Plans to Stop Big College Tuition Hikes
President Obama said in his state of the union speech that it’s time to cut federal aid to any college that does not keep tuition increases in check. The hope is that they will then find ways to cut costs and make college more …
In Major Shakeup, J.C. Penney Promises No More ‘Fake Prices’
Less than 1% of J.C. Penney’s revenues come from items bought at full price. By contrast, nearly three-quarters of merchandise sold by the department store chain is discounted by at least 50% off. What this tells shoppers is that …
Should Americans Care About Apple’s iPhone-Factory Conditions?
The New York Times is out with the second installment of its iEconomy series, which explores high-tech manufacturing in an era of globalization. Not surprisingly, Apple, America’s top technology company, is a central focus of the …
Bidding for Joe Paterno Memorial Service Tickets on eBay
Would you buy scalped tickets — to a funeral? Fans who want to bid final respects to legendary Penn State football coach Joe Paterno, who died on January 22, will have a chance to do so this afternoon at his public memorial …
Why (Bill) Size Really Does Matter
In some Big Apple circles there’s a concept referred to as “The New York City Street Tax.” This isn’t anything official. Rather, the idea is that the simple act of walking through the city—walking through any bustling city, …
Give Romney a Break! His Charitable Giving Offsets His Low Tax Rate
Mitt Romney may not be paying as much federal income tax as you’d like. But his charitable giving is extraordinary. Add the two together—taxes and voluntary giving—and you get something close to an overall rate that many …
Is the Fed Undermining the Recovery?
Ben Bernanke is playing chicken with the real economy.
By most measures, the U.S. economy in the past few months seems to be improving. The unemployment rate has been falling. Manufacturing appears to be perking up. U.S. car companies are back in business. And home sales even rose in December.
Curious CapitalistDavos
Huffington: Financial Crisis or Empathy Crisis?
Last night at a cocktail party I attended in Davos, the queen of new media, Arianna Huffington, did a surprising thing. She asked people to unplug from their Blackberries and—gasp—slow down. Multi-tasking is ubiquitous at …
Guess What — I Met an Optimist at Davos!
In a world economy gripped by fear and smothered in uncertainty, I managed to meet someone here able to shine a bright light through the gloom – Steve Ellis, worldwide managing director of consulting firm Bain & Co. Sure, we …
$100 Billion Question: What Should Apple Do With Its Cash?
When Apple reported its blowout financial results this week, it disclosed an amazing fact: The company is now sitting on $97.6 billion in cash. So what will the tech juggernaut do with all of that money? Company executives were …
Is That a Ford? Fiat? U.S. Consumers See Fewer Differences Between Car Brands
I’ve never been a car guy. I can’t tell you the difference between Honda and Hyundai. I don’t see a classic speedster (that’s the term, right?) on the road and say, “There goes the ’69 Camaro SS 396 4-Speed. Boy, listen …