You can practically set your watch by it. As petroleum prices soar—and with them, oil company profits and pain at the gas pump—sooner or later members of Congress will haul Big Oil executives into a hearing and Demand That Something Be Done. It happened in 2008, the last time oil prices breached the $100 a barrel mark, and on …
Alligator Trapping Just Doesn’t Pay Like It Used To
In another quirky sign of the times, it’s probably smart to now scratch “alligator trapper” off your list of possible careers. Here’s a job that would never be described as easy. And because of rising gas prices, a falloff in the market for alligator meat and hides, and strapped government budgets that refuse to pay more for trappers to …
Raj Gets Nailed. The Ratings Agencies Beat the Rap
So the Feds got their big fish. The takedown of Raj Rajaratnam for insider trading is going to give U.S. Attorney Preet Bharara plenty of momentum in using an old prosecutorial weapon to go after a new set of miscreants. Rajaratnam was fried by his own words, obtained by the kind of wiretap that the prosecutors use to go after Mafiosi, …
It’s a Deal: 20% Off Everything at Converse.com
Through May 12, Converse has a site-wide sale with 20% off all merchandise, with a few exceptions (no gift cards or design-your-own products). No promotional code required.
A Brief List of Goods and Services at All-Time High Prices
It’s not your imagination. You really are being asked to pay like never before for everyday expenses.
Nowadays, the Rich Actually Pause Before Spending, Care About Value
Research shows that in the post-recession era, wealthy Americans are more inclined to wait for items to go on sale before making purchases. Brand names mean less to them, marketing has less influence as well, and the number of well-off shoppers who say they trust salespeople has plummeted. In other words, the rich today are more likely …
Do Americans hold “simple” ideas about China’s economy?
Wang Qishan, China’s vice-premier, caused a bit of a stir this week when he accused Americans of having “simple” ideas about his nation during an interview on “The Charlie Rose Show.” According to a transcript, Wang said:
It is not easy to really know China because China is an ancient civilization and we are of the oriental
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Are High Oil Prices Good for U.S.-China Trade?
The U.S. trade deficit climbed 6% in March, according to numbers out from the Commerce Department. But the widening trade gap, the highest since June 2010, may not be as worrisome as it seems. Much of the jump has to do with the recent uptick in oil prices, which makes the U.S. bill for oil imports more expensive. But if you take oil …
Gilt Groupe: Will the Lux-for-Less Obsession Last?
In the words of fashion designer Zac Posen: “The media is constantly redefining what luxury is. Luxury can be a dirty sock if dressed up in the right way.” Such is the secret behind Gilt Groupe, the discount luxury flash-sales site that hasn’t yet turned a profit but just convinced investors to throw another $138 million into its chic …
It’s Peak Dumpster-Diving Season
In springtime, the tulips bloom, the grass turns a vibrant green, animals are born—and dumpsters in college towns are at their ripest for picking.
It’s a Deal: Second Pair of Shoes Half Off at Payless
Through May 16, Payless is hosting a buy one, get one half off sale. For online orders, shipping adds a flat $5.95, or a free ship-to-store service is available.
Don’t Count on Job Growth. Bring Back the WPA!
The monthly jobs report released last week by the Bureau of Labor Statistics proved to be a pleasant surprise. Nearly 250,000 more people were employed, for a total of more than 750,000 more jobs between February and April. While these numbers are the product of complicated formulas that are never quite accurate and will eventually be …