Business

U.S. Automakers Are On A Roll, But Hiring Is Slow And Steady

Sonari Glinton — Wed, 19 Jun 2013 07:21:00 +0000

There is one basic question that keeps being asked about the U.S. auto industry: Is it on the rebound?

"People ask a lot, is the auto industry back?" says Kristin Dziczek, a director at the Center for Automotive Research. "And it depends on what scale you want to look at."

So if we're looking at scales, let's start with productivity. In this case, how many work hours it takes to build a car. Productivity in U.S. plants is 39 percent higher than it was in 2000.

Why Buy A House When You Can Buy A Mountain?

Elise Hu — Tue, 18 Jun 2013 07:05:00 +0000

It's not your everyday real estate deal. A team of young entrepreneurs persuaded about 50 deep-pocketed investors to help them purchase a mountain. The deal just closed in April, and development on Utah's nearly 10,000-acre Powder Mountain is now underway.

"When we made those first phone calls, everybody's like, what?

FTC Can Sue Firms In 'Pay For Delay' Drug Deals, Court Rules

Bill Chappell — Mon, 17 Jun 2013 19:59:00 +0000

When the maker of a brand-name drug pays a maker of generic drugs to not produce a lower-priced version of their product, the Federal Trade Commission can challenge the arrangement on antitrust grounds, the Supreme Court ruled Monday. The ruling may end the era of what regulators call "pay-for-delay" deals.

The justices voted 5-3 to allow a case to go forward in which the FTC is challenging one of many such deals.

Why More People Are Renting Tires

editor — Fri, 14 Jun 2013 07:19:00 +0000

"Oh, I checked every place in town, and they were outrageous," says Shannon Kelly. "It would be anywhere from $4[00] to $500, and I just don't have that right now."

Kelly had just walked into Rent N Roll, a rent-to-own tire store in Ocala, Fla. She was looking to rent a set of tires for her truck. Tire rental stores like this one have been around for a while, but until recently, most of their customers rented fancy rims.

Old McDonald Might Be A Lady: More Women Take Up Farming

editor — Thu, 13 Jun 2013 15:51:00 +0000

More women are getting into farming, according to a recent analysis from the U.S Department of Agriculture.

The agency crunched numbers from the Agriculture Census and found that the number of U.S. farms operated by women nearly tripled over the past three decades, from 5 percent in 1978 to 14 percent by 2007.

Women are running farms of all sizes, but the majority have had annual sales of less than $10,000, USDA says.

Report: Overdraft Protection Puts Customers 'At Greater Risk'

editor — Tue, 11 Jun 2013 15:49:00 +0000

The Consumer Financial Protection Bureau is looking at how overdraft fees affect consumers in a detailed report released Tuesday.

One of the stunning finds: "Overdraft and non-sufficient funds fees accounted for 61 percent of total consumer deposit account service charges in 2011 among the banks in the CFPB report."

If you remember, the Federal Reserve passed a regulation in 2010 that required consumers to opt-in to these kinds of services.

What's Hot In Financial Markets Today

Chornyak & Associates — Mon, 10 Jun 2013 16:23:41 +0000

As a result of Joe Chornyak's recent meetings with portfolio managers, he uncovered some surprising insights as to what is HOT in financial markets today. Don't miss this video in which he shares with us his thoughts on creating the greatest opportunity over the long haul.

Golden Years Tainted As Retirement Savings Dwindle

editor — Sun, 09 Jun 2013 21:53:00 +0000

"I'm a carpenter/cabinet-maker/woodworker, and I think I'll be retiring the day I die."

Michael Powers, 47, is not alone in his retirement insecurity. According to a Pew study published in May, members of Generation X — aged 38 to 47 — are on track to be the first generation to do worse in retirement than their parents. Assuming they retire at all.

For almost a century, it's been a tenet of the American dream: Work hard enough, and you'll get to rest and relax in your golden years.

What Will Jobs Report Say? Slow Growth Is Best Bet

Mark Memmott — Fri, 07 Jun 2013 12:14:00 +0000

There was modest job growth once again in May even as the nation's unemployment rate ticked up, the Bureau of Labor Statistics reported Friday.

According to BLS:

-- 175,000 jobs were added to public and private payrolls last month, slightly more than economists had expected.

-- The jobless rate rose to 7.6 percent from April's 7.5 percent. That rate can rise even as more jobs are added because the size of the labor force has also gone up.

We'll have more from the report, which was released at 8:30 a.m.

Microsoft, FBI Say They've Disrupted $500 Million Botnet

editor — Thu, 06 Jun 2013 14:31:00 +0000

Working jointly with the FBI, Microsoft says it has disrupted a botnet responsible for stealing more than $500 million from bank accounts worldwide.

In a blog post published late last night, Microsoft said this was its "most agressive botnet operation to date" and the "first time that law enforcement and the private sector have worked together" to "execute a civil seizure warrant as par

Jobs Outlook Is Brighter For Class Of 2013

Marilyn Geewax and Andrew Schneider — Wed, 05 Jun 2013 13:54:00 +0000

For the last five years, graduation day has been as much a time for apprehension as for celebration.

Even now, with the Great Recession over, many recent graduates are still struggling to turn their high school and college diplomas into tickets for a better life. The unemployment rate for Americans under age 25 remains more than double the overall rate of 7.5 percent.

But experts are predicting this year's graduates — whether from high school, community college or a four-year college — should have better career launches than at any time since 2008.

Book News: Apple Vs. DOJ As Ebook Price-Fixing Trial Begins

Annalisa Quinn — Mon, 03 Jun 2013 11:33:00 +0000

The daily lowdown on books, publishing, and the occasional author behaving badly.

All eyes are on Apple as it heads to court Monday for the start of its ebook price-fixing trial. Last year, the Justice Department accused Apple of conspiring with five major publishing companies to set prices on digital books. The publishers — HarperCollins, Simon & Schuster, Penguin, Hachette and Macmillan — have all settled.

Preparing for Medicare Enrollment

Chornyak & Associates — Fri, 31 May 2013 16:28:55 +0000

With all the options available to you, the Medicare enrollment process can seem overwhelming, especially if you leave important decisions to the last minute. Commonwealth Financial Network provides the following advice to ease any potential discomfort about making the correct choices.

Financial News From Chornyak & Associates

Chornyak & Associates — Fri, 31 May 2013 16:19:12 +0000

Where should we place our emphasis in savings and investment? It's a question that we at Chornyak & Associates face frequently. The website Consumerism Commentary looks at both sides of the issue and comes up with some sound thoughts. The answer? It's a "moveable goal."

New Data Confirm That Economy Isn't Growing As Fast As Hoped

Mark Memmott — Thu, 30 May 2013 13:04:00 +0000

The U.S. economy grew at a 2.4 percent annual rate in the first quarter, the Bureau of Economic Analysis reported Thursday morning.

That basically confirms what the agency said a month ago, when it released its initial estimate for gross domestic product growth in the quarter.

How A Trip To Costco Can Work As An Investment Strategy

Uri Berliner — Thu, 30 May 2013 07:02:00 +0000

NPR's Uri Berliner is taking $5,000 of his own savings and putting it to work. Though he's no financial whiz or guru, he's exploring different types of investments — alternatives that may fare better than staying in a savings account that's not keeping up with inflation.

Mark Cuban is a billionaire, so it may be a surprise that the owner of NBA's Dallas Mavericks purchases everyday items like razor blades and toothpaste in bulk batches.

Personalized Coca-Colas, But Not If Your Name Is Mohammed Or Maria

editor — Wed, 29 May 2013 14:49:00 +0000

Remember the disappointment you felt as a kid at the souvenir shop when that personalized key chain wasn't available in your name? For me, it was never finding "Allison" with two L's. My colleague Maria says she was always stuck with "Mary" as her only option.

Facebook fans of Coca-Cola's new "Share a Coke" campaign are having similar frustrations.

Natural Gas Export Plan Unites Oregon Landowners Against It

Jeff Brady — Wed, 29 May 2013 06:54:00 +0000

A radical shift in the world energy picture is raising environmental concerns in the United States.

Until recently, the U.S. had been expected to import more natural gas. But now, because of controversial technologies like "fracking," drillers are producing a lot more domestic natural gas; so much that prices are down, along with industry profits. And drillers are looking overseas for new customers.

Whether the United States should export some of its newly abundant supplies of natural gas is a controversial issue before the Department of Energy.

Once A Boon For Investors, House Flipping Is Back

Nina Gregory — Wed, 29 May 2013 06:54:00 +0000

House flipping is back.

A popular phenomenon during the housing boom, flipping is when a house is bought and sold within a six-month period. Flippers are real estate investors who buy houses, fix them up quickly and then resell them, making money off the renovation.

Bernanke Hints That The Economy Still Needs Help

Mark Memmott — Thu, 23 May 2013 15:13:45 +0000

In the nearly impenetrable language that comes with his job, Federal Reserve Chairman Ben Bernanke told Congress on Wednesday that even though the economy is doing better, the central bank needs to keep giving it a boost.

The key passage from his prepared testimony:

"Recognizing the drawbacks of persistently low rates, the FOMC actively seeks economic conditions consistent with sustainably higher interest rates.