How This Kid Made $170 Million in Two Years
inc.com — Aaron Patzer launched Mint.com as a user-friendly alternative to Quicken and other personal-finance software out there. Little did he know that just two years later, Intuit, which makes Quicken, would fork over $170 million for his website. (Submitted by TalSiach) More…
The End of Credit Card Rip-offs?
mint.com — For many years, the credit card industry has resembled a modern day Wild Wild West. Unrestrained by regulatory discipline, American credit card companies have made life confusing (to say the least) for millions – often with no serious repercussions whatsoever. (Submitted by redsfaithful) More…
Ecommerce Scams: Hundreds Of Well-Known Sites Scam Customers
huffingtonpost.com — The report reveals that numerous well-known e-commerce companies have earned millions of dollars through post-transaction marketing "scams", including sellers such as 1800Flowers.com, Fandango, FTD, Orbitz, Priceline, Shutterfly, Buy.com, Barnes & Noble, Expedia, as well as many, many more. (Submitted by BuzzEdition) More…
Obama: Too much debt could fuel double-dip recession!
reuters.com — BEIJING, Nov 18 (Reuters) - President Barack Obama gave his sternest warning yet about the need to contain rising U.S.deficits, saying on Wednesday that if government debt were to pile up too much, it could lead to a double-dip recession. (Ya think?) Boy, it's a good thing our Chinese leaders are looking out for us and can explain these things.. (Submitted by Madrigalian) More…
Newsweek: Fighting for Survival but Drifting to Irrelevance
dailyfinance.com — Newsweek's current strategy is to court a smaller, more demographically elite audience by offering a product less like the newsweekly of yore and more like The Economist: heavy on opinion and analysis, light on reporting. It's also to harness the power of the blogosphere and the 24-hour cable news cycle by stirring the pot. (Submitted by archivedigger) More…
Did NYFed lose taxpayers billions of dollars on AIG bailout?
dailyfinance.com — There are two sides to every story, and sometimes three, four or five. An audit by the Special Inspector General for the Troubled Asset Relief Program claims that the Federal Reserve Bank of New York allowed banks to get 100% of the value of complicated financial instruments that they had insured with AIG (AIG). (Submitted by dainix) More…
Ponzi Schemes Go Green
greeninc.blogs.nytimes.com — Federal regulators have accused four people and two companies of using bogus claims about “green initiatives” to entice more than 300 investors into what was really a $30 million Ponzi scheme. “The only green these promoters seemed interested in was investors’ money,” said Don Hoerl, director of the commission’s Denver office. (Submitted by hbyrne) More…
GE Makes a Bet on Backyard Wind Turbines
greenbiz.com — When it comes to energy, General Electric is all about big: big coal plants, big nuclear plants, big wind towers. So why would the $183-billion a year industrial conglomerate bother to invest in a small company that makes wind turbines so small they can be erected in your backyard? (Submitted by absolutelytrue) More…
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