Archive for November, 2009
Chegg.com rakes in $57 million for textbook rental site
Recession? Slouching economy? I bet Chegg.com would tell you differently.
“Chegg.com, an online textbook-rental company, said it has raised $57 million in venture capital, in a sign that venture investing may be reviving.
The amount of funding that the Santa Clara, Calif., company raised is unusual given the slowdown in venture-capital investments that has taken place this [...]
Troubled GMAC: Out goes Molina in comes Carpenter
GMAC Financial Services, the struggling company that provides loans to GM customers and dealers, has named a current board member, Michael Carpenter, their new CEO. Carpenter stepped in for Alvaro de Molina, who was ousted after less than a year and a half at the position. Carpenter has publicly vowed to turn the company around and catapult [...]
GE CEO and BofA execs predict second stimulus
Whether the end result proves to be positive or not, should this come to fruition, expect right wing radio hosts and Senators alike to have a field day. Oh, excuse me, and expect BofA execs to have a vacation.
“General Electric Co. Chief Executive Jeffrey Immelt and several Bank of America Merrill Lynch executives said Monday they [...]
Federal Reserve pushing for new stricter regulations on gift cards
The Federal Reserve is taking more and more steps to protect consumers; it’s latest dealing with retail gift cards.
Today the Federal Reserve put forward a plan to limit fees and extend the expiration date for many different gift cards across the country.
“The rules would protect consumers from certain unexpected costs and would require that gift card [...]
Dutch introduces driving tax
The Dutch are planning on introducing a new tax that will monitor tax-payers’ miles driven and tax accordingly. The U.S. has been toying with this idea for some time. Actually, Oregan ran a similar, small pilot program which was considered pretty successful. With the U.S. trying to find a way to keep people out of [...]
MGM loooking for a buyer
In a statement Friday, Metro-Goldwyn-Mayer Inc. announced that it is “exploring strategic options”, including a possible sale.
The debt riddled company said it is also interested in strategic partnerships and that its lenders have agreed to look for outside investors for a new partnership.
The lenders have agreed to grant MGM another respite until Jan. 31 from interest payments on [...]
Retail sales increase for October
From September to October, retail sales increased 1.4%. Excluding auto parts and sales, retail rose a mere 0.2%. Our economy saw a slight decline in September, so the rebound was definitley good news.
Real retail sales declined by 1.7% on a YoY basis. The year-over-year comparisons are much easier now since retail sales collapsed in October 2008. Retail [...]
