http://www.savvysugar.com/ It Makes Sense. en http://www.savvysugar.com/2501019 <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl1/10/104165/46_2008/a1199a5a7480aa2d_brain.jpg" alt="" title="" class="image right xlarge" height="212" width="300"></span>The idea that some people are right-brained or left-brained makes it possible to rationalize why someone isn't particularly smart in a certain subject, and new research shows this type of reasoning isn't limited to math problems and literature. A Cambridge University study found that <a href="http://www.ft.com/cms/s/0/0114516c-b101-11dd-8915-0000779fd18c.html" target="_blank">entrepreneurs' brains have more activity</a> in the region of the brain responsible for making "risky or hot" decisions. </p> <p>The study is the first to assess entrepreneurs through neuroscience. Researchers gathered 16 successful entrepreneurs and 17 managers, and a series of tests showed entrepreneurs to be more impulsive and mentally more flexible than the managers. Because risk-taking is an essential part of the entrepreneurial process, the study hopes to identify ways to teach brains that don't have enhanced activity in the medial and orbital sectors of the prefrontal cortex to turn up that part of the brain. </p> <p>Do you think the part of your brain responsible for taking risks is active enough to be an entrepreneur?</p> <p><a href="http://www.gettyimages.com/" target="_blank">Source</a></p> http://www.savvysugar.com/2501019#comment entrepreneur news Sat, 15 Nov 2008 11:00:53 -0800 SavvySugar http://www.savvysugar.com/2501019 http://www.savvysugar.com/2490517 <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl1/10/104165/46_2008/5c9818b4983b8aa3_dictionary.jpg" alt="" title="" class="image right xlarge" height="300" width="300"></span>2008 is not yet over, yet the final votes have been cast for the word of the year. When I think of the past year, I think foreclosure, but the New Oxford American Dictionary only crowns a word that is unique and was populated in the past year. For example, these four words were <a href="http://money.cnn.com/2008/11/11/news/economy/wordof_year/index.htm/" target="_blank">runners-up to the word of the year winner</a>. </p> <ul> <li><b>Frugalista</b>: Person who leads a frugal lifestyle but stays fashionable and healthy by swapping clothes, buying second-hand, growing own produce, etc.</li> <li><b>Moofer</b>: A mobile out-of-office worker, as in someone who works away from a fixed workplace, via BlackBerry, a laptop, or Wi-Fi. Also can be used as a verbal noun, as in moofing.</li> <li><b>Topless meeting</b>: A meeting in which the participants are barred from using their laptops, BlackBerries, or cellphones.</li> <li><b>Toxic debt</b>: Mainly sub-prime debts that are now proving so disastrous to banks. They were parceled up and sent around the global financial system like toxic waste, hence the allusion.</li> </ul> <p>To see the word of the year, </p> <p><a href="http://www.savvysugar.com/2490517">read more</a></p> http://www.savvysugar.com/2490517#comment economy news Wed, 12 Nov 2008 13:30:15 -0800 SavvySugar http://www.savvysugar.com/2490517 http://www.savvysugar.com/2464282 <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl1/10/104165/45_2008/fa10e756c9194c14_diamond-card.jpg" alt="" title="" class="image right xlarge" height="208" width="288"></span>While most of the world is chest deep in a credit crunch, MasterCard has teamed up with Kazakhstan's Kazkommertsbank in <a href="http://www.guardian.co.uk/money/2008/nov/02/recession-super-rich-billionaires-kazakhstan/" target="_blank">launching the Diamond credit card</a>. The diamond-encrusted, gold-laced card will be released in two weeks to an elite population of millionaires who can afford the $1,000 annual fee and won't blink at the $50,000 credit limit. </p> <p>The growing millionaire population of Kazakhstan is currently at 12,000, and the bank needs only about eight percent of these people to sign up for a card: A total of 1,000 cards will be released and only 30 each month to ensure the card will not be taken for granted as a status symbol. The his version features a winged horse and the hers version boasts a peacock, and there is a 0.02 carat diamond embedded in every card's center. MasterCard launched a similar card for its most VIP customers in Dubai last year. </p> http://www.savvysugar.com/2464282#comment credit card news wealth Tue, 04 Nov 2008 03:30:18 -0800 SavvySugar http://www.savvysugar.com/2464282 http://www.savvysugar.com/2444799 <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl1/10/104165/44_2008/8c74270510461b81_college.jpg" alt="" title="" class="image right xlarge" height="203" width="305"></span>Now that the 2008-2009 school year is in full swing, the College Board has released the official numbers for <a href="http://www.savvysugar.com/2442028/" >the average cost of attending college</a> this year, and <a href="http://money.cnn.com/galleries/2008/news/0810/gallery.expensive_colleges/index.html/" target="_blank">CNN Money has developed a list</a> of the 10 most expensive schools in the US. Is your alma mater on the list? </p> <p><br></p> <h3>10 Most Expensive Colleges</h3> <ol> <li value=”10”>Wesleyan University: $38,934</li> <li value=”9”>St. John's College: $39,154</li> <li value=”8”>Columbia University: $39,326</li> <li value=”7”>Colgate University: $39,545</li> <li value=”6”>Carnegie Mellon University: $39,564</li> </ol> <p>See the five priciest colleges when you </p> <p><a href="http://www.savvysugar.com/2444799">read more</a></p> http://www.savvysugar.com/2444799#comment education news tuition Mon, 03 Nov 2008 12:45:29 -0800 SavvySugar http://www.savvysugar.com/2444799 http://www.savvysugar.com/2448464 <p><a href="http://www.teenvogue.com/" target="_blank">Teen Vogue</a> is well aware that retail is in big trouble as reflected by its new concept for the 2008 holiday season. Retailers are thirsty for teenage girls to spend like they used to, so <b>Teen Vogue</b> is taking advertising for the demographic to the next level. This is one campaign that doesn't involve the magazine's go-to heartthrob Zac Efron and actually leaves out boys altogether — the magazine has tried to develop the ultimate girls spot in hopes of loosening up wallets. </p> <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl1/10/104165/44_2008/b7b2a45bfc19d9f3_teen-vogue.jpg" alt="" title="" class="image center outline preview" height="99" width="550"></span></p> <p>The magazine is forming a presence in malls with temporary pop-up stores, <a href="http://www.nytimes.com/2008/10/30/business/media/30adco.html/" target="_blank">formally called the Teen Vogue Haute Spot</a>. The store won't sell anything but hopes to inspire the urge to splurge by providing makeup and perfume stations, racks of clothing for trying on, informal modeling, and snacks. The stores will be staffed with stylists who are there to give advice and ultimately escort the girls to stores in the mall where they can buy the products they've fallen in love with. </p> <p>Aside from the holiday season stores open from November 28 through December 26, <b>Teen Vogue</b> plans on opening pop-up stores for prom season and back-to-school shopping. Do you think <b>Teen Vogue</b> is on to something, or is their hands-on marketing scheme a dead end in this economy? </p> http://www.savvysugar.com/2448464#comment advertising consumerism holiday news shopping Sun, 02 Nov 2008 07:00:15 -0800 SavvySugar http://www.savvysugar.com/2448464 http://www.savvysugar.com/2442127 <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl1/10/104165/44_2008/9a715a0ed76a84b4_saving.larger.jpg" alt="" title="" class="image left larger" height="240" width="240"></span>It really says something about American consumer culture when it's news that people are actually saving their money. I suppose it's better late than never, and a new study from First Command Financial Services <a href="http://money.cnn.com/2008/10/28/pf/money_habits/index.htm/" target="_blank">shows that people are starting to save more</a> and pay off their debt loads. In September, Americans put an average $901 more into short-term savings than in August — an increase of nearly 20 percent! Even more impressive, retirement savings deposits rose more than 50 percent month over month. </p> <p>Have you increased the amount of money you put in to savings? </p> <p><a href="http://www.gettyimages.com/"<Source</a></p> http://www.savvysugar.com/2442127#comment economy news saving Thu, 30 Oct 2008 04:30:14 -0700 SavvySugar http://www.savvysugar.com/2442127 http://www.savvysugar.com/2433848 <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl1/10/104165/44_2008/9bef17e3a8004abf_bank-auction.jpg" alt="" title="" class="image left xlarge" height="202" width="305"></span>Many people are reluctant to give anything to strangers that isn't unwanted clothes or out of fashion furniture, but Marilyn Mock has gone above and beyond in dishing out Good Samaritan deeds. When Marilyn <a href="http://www.cnn.com/2008/LIVING/wayoflife/10/28/foreclosed.home/index.html" target="_blank">purchased a foreclosed home for the stranger</a> who was watching her home being auctioned by the bank, she surprised everyone but her husband, who is used to hearing about his wife's giving tendencies. His response to the news? "Whatever."</p> <p>Tracy Orr, the owner whose home was being foreclosed, is hardly saying whatever to the stranger who paid $30,000 to save her house. The two women met just minutes before the auction began, when Marilyn struck up small talk with Tracy and asked her, "Are you here to buy a house?" Tracy was unable to contain her tears as she told Marilyn that her house was being auctioned off. After that simple exchange, Marilyn decided to bid on the home so Tracy could continue living there. She can't afford to just give the home to Tracy but said, "We'll just figure out however much she can pay on it. That way, she can have her house back."</p> <p><a href="http://www.gettyimages.com/" target="_blank">Source</a></p> http://www.savvysugar.com/2433848#comment foreclosure housing news real estate Wed, 29 Oct 2008 06:30:25 -0700 SavvySugar http://www.savvysugar.com/2433848 http://www.savvysugar.com/2435913 <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl1/10/104165/44_2008/d1cdcc2dd96c8350_gender-gap.jpg" alt="" title="" class="image right xlarge" height="300" width="300"></span>Human Resources departments are dominated by women 70 percent of the time, yet men in the field <a href="http://online.wsj.com/article/SB122462820367156127.html" target="_blank">dominate when it comes to salary</a>. The pay gap between male and female HR executives trickles down to every level of the department: In 2007, the median salary for male HR managers was 47 percent more than female paychecks, while male rank-and-file employees took home 28 percent more than their female counterparts. </p> <p>One HR consultant assumes the gap could be blamed at least partially on the fact that many men in HR were executives at other firms who were recruited to their roles and enticed with the hefty compensation they were already earning. It is interesting that the people in charge of our payroll and employment issues have their own very visible gender wage-gap. </p> <p><a href="http://www.gettyimages.com/" target="_blank">Source</a></p> http://www.savvysugar.com/2435913#comment gender gap income news salary The Grind women Wed, 29 Oct 2008 04:00:40 -0700 SavvySugar http://www.savvysugar.com/2435913 http://www.savvysugar.com/2428689 <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl1/10/104165/44_2008/47b84fb81682a68e_atm.jpg" alt="" title="" class="image left xlarge" height="200" width="300"></span>A newly released Bankrate <a href="http://money.cnn.com/2008/10/27/pf/bankrate/index.htm/" target="_blank">study about checking account fees</a> found that the associated fees have reached an all-time high. ATM surcharges increased 11 percent from just last year, going from $1.78 to $1.97, fees for bounced checks rose 2.5 percent to $28.95, and monthly service fees on interest bearing accounts increased from $11.72 to $11.97. According to Greg McBride from Bankrate.com, "Fees have been going up for years. Some of those fees have outpaced the rate of inflation."</p> <p>The fees may keep going up, but we can sit on the sidelines unaffected by the hikes if we're smart. If your bank doesn't absorb ATM surcharges, stick to your own bank's ATM by planning ahead, or just get cash back at the store. Ideally your checkbook is balanced so that you don't bounce checks, but getting overdraft protection connected to a savings account can prevent expensive bounced check fees. Most interest bearing checking accounts pay very minimal interest anyway, so you're probably better off forgoing the interest to avoid maintenance fees that usually come with these accounts.</p> http://www.savvysugar.com/2428689#comment ATM checking account fees news Tue, 28 Oct 2008 04:00:01 -0700 SavvySugar http://www.savvysugar.com/2428689 http://www.savvysugar.com/2419216 <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl1/10/104165/43_2008/1f6f3c2b301ddea7_student.jpg" alt="" title="" class="image left xlarge" height="260" width="305"></span>Student loans are increasingly necessary <a href="http://www.savvysugar.com/2381502/" >for many students to pay for college</a>, but these massive debts are causing some graduates to flee the country. It may seem dramatic, but <a href="http://money.cnn.com/2008/10/23/pf/college/student_loan_fugitives/index.htm/" target="_blank">leaving the country sometimes seems</a> like the only option for grads that have defaulted on their student loans and can't find another way to escape the debt collectors. </p> <p>CNN Money profiled a student loan fugitive named Chris who got a foreign address to escape his $160,000 student debt from getting a master's degree in music. He anticipated his monthly payments to be around $600, but they turned out to be a completely unmanageable $2,400. Chris says, "I am upset at myself. I could have gone to a cheaper school. But I'm most angry at the fact that for anyone who has debt that's not student loan debt, there's relief." </p> <p>In some cases, student loans are discharged or partially discharged because of hardship. Chris and other graduates who feel helpless should explore these options before fleeing the country. </p> <p><a href="http://www.gettyimages.com/" target="_blank">Source</a></p> http://www.savvysugar.com/2419216#comment debt loan news student Sat, 25 Oct 2008 11:00:57 -0700 SavvySugar http://www.savvysugar.com/2419216 http://www.savvysugar.com/2398783 <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl1/10/104165/43_2008/253ad985fc5e68b2_cash.jpg" alt="" title="" class="image right xlarge" height="202" width="305"></span>It's bad news for retailers, but good for financial health. Cash is making a comeback as <a href="http://money.cnn.com/2008/10/22/news/economy/retail_cash/index.htm/" target="_blank">the preferred method of payment</a>. Online retailers are particularly troubled by consumers shying away from their credit cards, and according to the founder of Consolidated Credit Counseling Services Howard Dvorkin, "With credit cards, consumers spend 30 percent more (on purchases) than with cash." </p> <p>Americans have usually gone back to ol' reliable cash when the economy is troubled, like after the Sept. 11 attacks. Dvorkin thinks consumers will return to their credit-spending ways when the economy gets on its feet, saying, "It's hard to to teach an old dog new tricks. Consumers have short memories. When the economy turns around, they'll return to the same old ways." </p> <p>Do you think consumers will learn their lesson this time around, or will most resume reliance on credit cards when the economy turns around? </p> <p><a href="http://www.gettyimages.com/" target="_blank">Source</a></p> http://www.savvysugar.com/2398783#comment cash consumerism news shopping Thu, 23 Oct 2008 15:00:51 -0700 SavvySugar http://www.savvysugar.com/2398783 http://www.savvysugar.com/2399241 <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl1/10/104165/43_2008/f02ff632e48986cd_target.jpg" alt="" title="" class="image right xlarge" height="202" width="305"></span>Weights and measures inspectors from Northern California discovered that Target repeatedly charged customers with higher prices than the listed prices, and as punishment <a href="http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/10/21/BAS413LU7F.DTL&amp;type=business" target="_blank">Target must pay a $1.7 million civil penalty</a>. Sonoma County District Attorney Stephan Passalacqua remarked, "Customers should not have to worry about being charged the correct price. We believe the settlement sends a message."</p> <p>The investigation was limited to Northern California, but there's more than a good chance electronic scanners in Targets all over the country have been over-charging customers. Target is a fan-favorite around here, but spending money unnecessarily is not OK. Next time you are shopping at Target, or anywhere for that matter, make sure you're paying attention to what you're being charged — those mistakes add up. </p> <p><a href="http://www.gettyimages.com/" target="_blank">Source</a></p> http://www.savvysugar.com/2399241#comment news Receipts Target Thu, 23 Oct 2008 04:30:59 -0700 SavvySugar http://www.savvysugar.com/2399241 http://www.savvysugar.com/2394506 <p>As Wall Street tumbles, Hollywood stumbles to rewrite scripts that feature <a href="http://www.savvysugar.com/2060558/" >Wall Street as it used to be</a>. That's not to say that every film or made-for-TV-movie will be a depressing commentary on current events, but investment bankers may need career changes and relocation from Wall Street. While <b>Gossip Girl</b> won't change a thing about its Upper East Siders, <a href="http://www.nytimes.com/2008/10/21/business/21hollywood.html/" target="_blank">other shows are tweaking some details</a>.</p> <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl1/10/104165/43_2008/ad249bfdbf348ba0_movie.jpg" alt="" title="" class="image center preview" height="152" width="550"></span></p> <p>Some story lines are appealing to the public with Average Joe type characters and producers are coming up with series geared toward a budget-minded audience. Others are choosing to create stories that offer viewers a sense of escape and we can expect to see new attempts at fantasy world settings on the big screen.<br /> In the past, troubled financial times have given way to feel good entertainment like smiley Shirley Temple, lavish film musicals ("The Wizard of Oz") and comedies where we see the upper class as "lovable fools."<br /> Nicole Clemens of International Creative Management explains, “In bad times especially, people do not want to see on the screen what they’re living through." </p> <p><a href="http://www.gettyimages.com/" target="_blank">Source</a></p> http://www.savvysugar.com/2394506#comment economy Hollywood news Wed, 22 Oct 2008 04:00:15 -0700 SavvySugar http://www.savvysugar.com/2394506 http://www.savvysugar.com/2377264 <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl1/10/104165/42_2008/6c436f052a9f846a_cuomo.jpg" alt="" title="" class="image right xlarge" height="201" width="305"></span>Insurance giant AIG is having a hard time overcoming its greedy image, but it's hard to change public perception when the company keeps making self-indulgent mistakes. People were infuriated by news that AIG sent its top sales executives <a href="http://www.savvysugar.com/2306115/" >on a posh $442,000 retreat</a> just one week after the government approved an $80 billion bailout for the company. Old habits, they die hard. </p> <p>As AIG asked for another $37.8 billion from the Fed, it made the thoughtless decision to send executives on a <a href="http://ap.google.com/article/ALeqM5g3InVeHoYnmXZnM2ACXSgjG0-nIQD93R69002" target="_blank">taxpayer-supported $86,000 hunting trip</a>. New York Attorney General Andrew Cuomo isn't taking AIG's spendaholic ways lightly, and said these expenditures violated state law. The company responded to attacks regarding the hunting trip with a shoulder-shrugging sorry: a spokesperson said, "We regret that this event was not canceled."</p> <p><a href="http://www.gettyimages.com/" target="_blank">Source</a></p> http://www.savvysugar.com/2377264#comment business news Thu, 16 Oct 2008 15:30:00 -0700 SavvySugar http://www.savvysugar.com/2377264 http://www.savvysugar.com/2368104 <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl1/10/104165/42_2008/hand.jpg" alt="" title="" class="image left xlarge" height="223" width="300"></span>Unemployment has been <a href="http://www.savvysugar.com/1835212/" >an unfortunate effect</a> of the credit crisis, and even those of us who haven't lost our jobs may see the state of the economy reflected in our paychecks. It's estimated that median household income <a href="http://www.nytimes.com/2008/10/15/business/economy/15leonhardt.html/" target="_blank">may be more than 5 percent lower</a> in 2010 than it was ten years earlier, giving way to an income slump that the US hasn't seen in a very long time. </p> <p>According to the Census Bureau, today's $50,600 median pay is already a little lower than it was in 2000 when the pay was $50,400. An expanding pay slump would cut in consumer spending even more than it already has been and would make it more difficult to pay off outstanding loans.</p> <p><a href="http://www.gettyimages.com/" target="_blank">Source</a></p> http://www.savvysugar.com/2368104#comment economy income news salary The Grind Wed, 15 Oct 2008 04:00:33 -0700 SavvySugar http://www.savvysugar.com/2368104 http://www.savvysugar.com/2357341 <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl1/2/22911/42_2008/stocks_0.xlarge.jpg" alt="" title="" class="image right xlarge" height="320" width="211"></span>Stocks moved back up today as investors made moves with the hope that the worst of the credit crisis has passed. The Dow Jones Industrial Average ended 936 points higher, after having risen as much as 976 points during the session, according to <a href="http://money.cnn.com/2008/10/13/markets/markets_newyork/?postversion=2008101315" target="_blank">CNN Money</a>. The advance was apparently the largest ever during a session on a point basis. </p> <blockquote><p>"We had some good news this morning from the Fed and the other central banks, but we were also oversold on an historic level and due for a big bounce," said Ryan Detrick, senior technical strategist at Schaeffer's Investment Research. "We basically saw a crash, and so you're going to see a big bounce off that."</p></blockquote> <p>Last week was the Dow's worst ever. Today's jump follows an <a href="http://ap.google.com/article/ALeqM5gHs5OM3gFG_DytQQZFbWfgPT08MAD93PQ9N00" target="_blank">announcement from the government that it will support</a> the global banking system and the US Treasury's plan to buy stocks of some banks. </p> <p><a href="http://gettyimages.com" target="_blank">Source</a></p> http://www.savvysugar.com/2357341#comment Dow economy news Mon, 13 Oct 2008 14:20:22 -0700 SavvySugar http://www.savvysugar.com/2357341 http://www.savvysugar.com/2338511 <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl1/10/104165/41_2008/dry-cleaning.jpg" alt="" title="" class="image right xlarge" height="242" width="300"></span>The economic turmoil has produced some unexpected bedfellows, and the newest of these partnerships is between freshly scented laundry detergent and a well-known retail brand. <a href="http://www.nytimes.com/2008/10/10/business/media/10adco.html/" target="_blank">Procter &amp; Gamble has partnered with Ann Taylor Loft</a> to launch its Tide Total Care and Downy Total Care detergents. Upon purchase of machine washable clothes, the stores will dispense samples and coupons for the detergents, which claim to help clothes looking new for up to 30 washes.</p> <p>Proctor &amp; Gamble is confident its two detergents will help cut down on dry cleaning costs, which can become pricey over the course of one year. Kash Shaikh of Proctor &amp; Gamble explained, “Women spend $1,500 a year on dry cleaning, and 65 percent of those clothes are actually machine washable.” A partnership between a consumer packaged goods company and a fashion retailer is atypical, but these are not typical times. Robert Luzzi, Chief marketing officer for Ann Taylor states, “The economy is fairly tough right now, and we want to deliver value for our clients."</p> <p>How much do you usually spend on dry cleaning? </p> <p><a href="http://www.gettyimages.com/" target="_blank">Source</a></p> http://www.savvysugar.com/2338511#comment advertising consumerism economy news shopping Sun, 12 Oct 2008 07:00:09 -0700 SavvySugar http://www.savvysugar.com/2338511 http://www.savvysugar.com/2324449 <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl1/10/104165/41_2008/greed.jpg" alt="" title="" class="image left xlarge" height="300" width="300"></span>As much as we utilize logical <a href="http://www.savvysugar.com/2298890/" >ways to cope with the economy</a>, our brains are wired to work a certain way. I'm no scientist, so I'll let MIT Professor Andrew W. Lo do the explaining. According to Lo, the amygdala controls fear and responds more quickly than parts of the brain that handle cognitive functions. Because of this, he suggests that fear may be <a href="http://www.nytimes.com/2008/10/08/business/08fear.html/" target="_blank">a more powerful force than greed</a>. </p> <p>Simply put, Lo says, "The loss of $1,000 has a much bigger impact than the gain of a $1,000.” People are more willing to take risks when it prevents them from losing money rather than take risks to earn more. A 1970s experiment asked students if they'd choose a sure bet and win $3,000 or an 80 percent chance of winning $4,000. Then, the same group was asked the same question worded differently; would they rather lose $3,000 or accept an 80 percent chance of losing $4,000? In the first scenario, most chose the $3,000 sure bet, and in the second scenario, most went with the riskier option. </p> <p><a href="http://www.gettyimages.com/" target="_blank">Source</a></p> http://www.savvysugar.com/2324449#comment economy investing news Fri, 10 Oct 2008 15:30:26 -0700 SavvySugar http://www.savvysugar.com/2324449 http://www.savvysugar.com/2337551 <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl1/10/104165/41_2008/wachovia_0.jpg" alt="" title="" class="image left xlarge" height="227" width="315"></span>Citigroup waved a white flag late Thursday as it <a href="http://dealbook.blogs.nytimes.com/2008/10/09/citi-withdraws-from-wells-fargo-talks/index.html/" target="_blank">bowed out of the battle with Wells Fargo</a> over which bank would buy ailing Wachovia. Early last week, Wells Fargo had backed out of talks as the federal government brokered a deal that <a href="http://www.savvysugar.com/2246638/" >arranged for Citigroup to pay $2.2 billion</a> for Wachovia’s banking operations and $12 billion in stock to the FDIC. Later in the week, after the deal with Citi had been agreed upon, Wells Fargo came back and offered $15 billion in stock to buy all of Wachovia. </p> <p>With Citi now out of the picture it seems likely Wachovia and Wells Fargo will join forces, though the drama isn't over. Citigroup has sued Wells Fargo for $60 billion in "compensatory and punitive damages." According to <b>The New York Times</b>, both banks were attracted to Wachovia for its retail banking operations "widely regarded as among the best in the business." </p> <p>Wachovia customers, are you worried that the quality in service will deteriorate with a Wells Fargo merger?</p> <p><a href="http://www.gettyimages.com/" target="_blank">Source</a></p> http://www.savvysugar.com/2337551#comment Banking news Fri, 10 Oct 2008 04:00:40 -0700 SavvySugar http://www.savvysugar.com/2337551 http://www.savvysugar.com/2329768 <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl1/10/104165/41_2008/recycle.jpg" alt="" title="" class="image left xlarger" height="375" width="250"></span>Remember when I told you about the couple that paid for their Fiji honeymoon <a href="http://www.savvysugar.com/1817281/" >by collecting cans</a> and exchanging them for cash? A couple from Petersfield, in Hampshire did the same thing, except in a quarter of the time it took the other couple! John and Ann Till collected <a href="http://news.bbc.co.uk/2/hi/uk_news/7654254.stm" target="_blank">recyclable items for only three months</a>, and instead of waiting for their own collection of recyclables to build up they went out and collected litter from the streets of their town. </p> <p>They used an automated recycling machine at their gas station that gave one point on a card for every four items put in to the machine. For every 250 points they got 600 British Airways miles, and after three rigorous months of collecting discarded recyclables they had enough miles for $5,200 business class flights. John said, "At the very beginning, we were concerned it would not be achievable, but then we saw the amount of rubbish out there. There was enough rubbish out there to fly us to the moon and back." </p> <p>If you found a similar points for recyclables program, would you partake in it? </p> <p><a href="http://www.gettyimages.com/" target="_blank">Source</a></p> http://www.savvysugar.com/2329768#comment honeymoon news saving Thu, 09 Oct 2008 08:00:11 -0700 SavvySugar http://www.savvysugar.com/2329768 http://www.savvysugar.com/2325304 <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl1/10/104165/41_2008/car.jpg" alt="" title="" class="image right xlarger" height="399" width="300"></span>TeamSugar member <a href="http://teamsugar.com/user/RosaDilia/" >RosaDilia</a> just financed a new ride and put 20 percent down to secure her loan, and her <a href="http://www.savvysugar.com/2302777/" >comment about it not being easy</a> (despite having a good credit score) coincided with a <a href="http://www.nytimes.com/2008/10/08/business/08auto.html/" target="_blank">New York Times piece</a> about the issue. </p> <p>Since July, the average down payment has gone up by about $1,000 for non-luxury vehicles, from $4,946 in the first seven months of the year to $5,915 by the end of September. With credit scarce, many car buyers are foregoing a down payment altogether and simply paying cash for their vehicles. </p> <p>Typically more than 90 percent of buyers use financing, but at the end of September, 31 percent of all non-luxury car sales were cash deals. The all but dried up credit market is debilitating to already struggling dealerships who are having trouble even getting financing for buyers with the best credit. </p> <p><a href="http://www.gettyimages.com/" target="_blank">Source</a></p> http://www.savvysugar.com/2325304#comment auto economy loan news Thu, 09 Oct 2008 04:00:31 -0700 SavvySugar http://www.savvysugar.com/2325304 http://www.savvysugar.com/2304815 <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl1/10/104165/41_2008/extreme.xxlarge.jpg" alt="" title="" class="image center xxlarge" height="333" width="500"></span></p> <p>Anyone would be beyond thrilled to call a six-bedroom Mediterranean style home their own, and former drug addict turned community charity founder Sadie Holmes was especially grateful the <a href="http://www.buzzsugar.com/tags/Extreme+Makeover+Home+Edition" >Extreme Makeover: Home Edition</a> team built her a home fitting that description. While they were at it, the team built an office for Sadie's charity adjacent to her home. </p> <p>Sadie was all <a href="http://www.orlandosentinel.com/orl-locsadie04100408oct04,0,596436.story" target="_blank">moved into her Florida home</a> by February 2006, and a month later she was cleared to run a volunteer organization from her home office. The permit came with the caveat that prohibited "outside storage of any materials" unless they were hidden from view, and within months she incurred costly infractions for things like portable restrooms and abandoned vehicles.</p> <p>A $29,000 lien was place on Sadie's house when she failed to show up on at least one occasion to plead her case to the code-enforcement board, and she risks losing her home if she can't come up with the money. The $29,000 is difficult for her to come up with because of her other expenses, like $3,000 for her charity's storage and $6,600 annual property taxes. Sadie plans on appealing her case. </p> <p><a href="http://www.wireimage.com/" target="_blank">Source</a></p> http://www.savvysugar.com/2304815#comment Extreme Makeover: Home Edition housing news real estate Wed, 08 Oct 2008 15:30:57 -0700 SavvySugar http://www.savvysugar.com/2304815 http://www.savvysugar.com/2305235 <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl1/10/104165/41_2008/crisis.jpg" alt="" title="" class="image right xlarge" height="266" width="320"></span>These days, numbers are making headlines almost as much as the names of our presidential nominees, and I'm not referring to poll numbers. Recent economic events have made the American financial system a roller coaster complete with upside-down turns. Have you been able to keep the headlining numbers straight? Take the quiz! </p> <p><br clear=all><br /> <a href="http://www.gettyimages.com/" target="_blank">Source</a></p> <p><a href="http://www.savvysugar.com/2305235">read more</a></p> http://www.savvysugar.com/2305235#comment economy How Money Are You news quiz Savvy quiz Wed, 08 Oct 2008 12:30:25 -0700 SavvySugar http://www.savvysugar.com/2305235 http://www.savvysugar.com/2302777 <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl1/10/104165/41_2008/cc.xlarger.jpg" alt="" title="" class="image left xlarger" height="400" width="297"></span>For what seems like ages financial gurus have been lamenting that consumers rely too much on credit cards, and finally people have begun to listen — all it took was a failing economy! The Federal Reserve announced on Tuesday that <a href="http://www.nytimes.com/2008/10/08/business/economy/08econ.html/" target="_blank">consumer borrowing fell in August</a> for the first time since 1998 and that was before the crisis worsened in September. Consumer borrowing is defined as loans not secured by real estate, and auto loans and credit cards were the two areas that led to a decline in consumer credit. </p> <p>Consumer spending, not to be confused with consumer borrowing, makes up two-thirds of total economic activity. Economists are worried this number will fall in the third quarter, something that hasn't happened since 1991. It's a confusing scenario with mixed messages — consumers need to save more in a tough economy, yet when we don't spend and stimulate the economy we risk damaging it further. Once we see improvements that make people more confident in the economy and feel more secure in their jobs, spending will naturally increase, but hopefully consumers have learned that living on credit cards is no longer a viable option. </p> <p><a href="http://www.gettyimages.com/" target="_blank">Source</a></p> http://www.savvysugar.com/2302777#comment credit card debt loan news Wed, 08 Oct 2008 06:30:01 -0700 SavvySugar http://www.savvysugar.com/2302777 http://www.savvysugar.com/2306115 <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl1/10/104165/41_2008/aig.jpg" alt="" title="" class="image right xlarge" height="210" width="310"></span>One of the visible side effects of the financial crisis has been greater attention on executive greed. A Congressional hearing on the credit crisis is taking a deeper look at the issues, and some digging into insurance giant AIG's habits <a href="http://www.nytimes.com/2008/10/08/business/economy/08insure.html/" target="_blank">has divulged some disturbing details</a>. </p> <p>Just one week after AIG was bailed out by the federal government, its life insurance subsidiary AIG General spent $442,000 on a week long retreat for top sales executives. The retreat took place at St. Regis Resort in Monarch Beach, CA, where the group rested (they spent $200,000 on hotel rooms), wined and dined ($150,000 was spent on food), and relaxed (there were $23,000 in spa charges). Are you wondering what the retreats were like before the bailout? Me, too. </p> <p><a href="http://www.gettyimages.com/" target="_blank">Source</a></p> http://www.savvysugar.com/2306115#comment CEO economy news Wed, 08 Oct 2008 04:00:33 -0700 SavvySugar http://www.savvysugar.com/2306115 http://www.savvysugar.com/2276335 <!-- no strip poll --><div id="epoll-view-2276335"></div><script type="text/javascript">new Ajax.Request('/epoll/view/2276335',{method:'get',onSuccess:function(transport){var epoll=$('epoll-view-2276335');epoll.update(transport.responseText);}});</script><noscript><p><p>If you're searching for flights next year and end up with a seat on American Airlines, you may notice something is different when you check out. Starting in 2009, the carrier is <a href="http://abcnews.go.com/Travel/WireStory?id=5958921&amp;page=1/" target="_blank">adopting an a la carte pricing structure</a>. If you're someone who gets frustrated when you have to order side dishes separately from your entree, you might not be a fan of the new system. </p> <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl1/10/104165/41_2008/high.jpg" alt="" title="" class="image center preview" height="285" width="550"></span></p> <p>An unbundled fee structure means there would be lower base fares and the option to add on extras for, you guessed it, a fee. Air Canada has been using the structure for some time, and while some customers like it because they know where they could be saving money, others feel nickel-and-dimed by having to pay extra for things like headsets. George Hobica, founder of airfarewatchdog.com, says, "The fees are here to stay and there will be more of them. Honestly, I think it's better for consumers. If I pack light, why should I pay for the guy that packs heavy?" </p> <p><a href="http://www.gettyimages.com/" target="_blank">Source</a></p> </p><!-- no strip poll --><form action="/2276335" method="post" id="epoll_view_voting"> <div><div class="poll"> <div class="vote-form"> <div class="choices"><div class="form-item"> <label>A La Carte Airline Fees: Good or Bad For the Customer? </label> <div class="form-item"> <label class="option"><input type="radio" name="edit[choice]" value="0" class="form-radio" /> Good for the consumer — unbundling gives more visibility.</label> </div> <div class="form-item"> <label class="option"><input type="radio" name="edit[choice]" value="1" class="form-radio" /> Bad for the customer — airlines make more by charging more fees.</label> </div> <div class="form-item"> <label class="option"><input type="radio" name="edit[choice]" value="2" class="form-radio" /> Undecided. </label> </div> </div> </div><input type="hidden" name="edit[nid]" id="edit-nid" value="2276335" /> <input type="submit" name="op" value="Vote" class="form-submit" /> </div><input type="hidden" name="edit[form_id]" id="edit-form_id" value="epoll_view_voting" /> </div> </div></form> <!-- no strip poll --></noscript><!-- no strip poll --> http://www.savvysugar.com/2276335#comment airline fees news poll Savvy poll Your Two Cents Tue, 07 Oct 2008 14:00:30 -0700 SavvySugar http://www.savvysugar.com/2276335 http://www.savvysugar.com/2227211 <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl1/10/104165/40_2008/zero-dollar.jpg" alt="" title="" class="image right outline preview" height="362" width="315"></span>When most people get angry about the economy they express themselves with choice words, and artist Laura Belkin responded <a href="http://www.nytimes.com/2008/10/05/business/05suits.html/" target="_blank">on a whole other creative level</a>. The Manhattan artist is protesting by using her art as a statement about the US financial crisis. </p> <p>Tomorrow, Laura will be on Wall Street distributing the 10,000 zero dollar bills she made. The bills are slightly smaller than the one-dollar bill and each one is original, signed and numbered by the artist. Laura created the zero-dollar print because she views the dollar bill "as symbolic of America’s stature in the world," and stripping it of its value is a criticism of the current American economy. What do you think of the print she created? </p> <p><a href="http://www.gilbertgallery.org" target="_blank">Source</a></p> http://www.savvysugar.com/2227211#comment currency dollar economy news Mon, 06 Oct 2008 06:30:55 -0700 SavvySugar http://www.savvysugar.com/2227211 http://www.savvysugar.com/2246638 <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl1/10/104165/40_2008/tug.jpg" alt="" title="" class="image left preview" height="411" width="300"></span>Scooping up troubled banks is the new thing to do for financial institutions that have managed to keep themselves above water, and things are getting competitive out there. Failing Wachovia was the apple of Citigroup's eye until Wells Fargo tried to swoop on its courting efforts. The game of tug-of-war is an important one, as banks compete to see who will survive the economic crisis and come out in a stronger position than when it started. </p> <p>Early last week, <a href="http://www.nytimes.com/2008/10/06/business/06bank.html/" target="_blank">Citigroup agreed to pay $2.2 billion</a> for Wachovia's banking operations in a deal brokered by the FDIC and then Wells Fargo agreed to pay $14.8 billion on Friday. Citi's deal tumbled with Wells Fargo's trumping offer, so Citi took the issue to a New York court and over the weekend a judge temporarily blocked the Wells Fargo deal from going through. A hearing is scheduled for later this week. </p> <p><a href="http://www.gettyimages.com/" target="_blank">Source</a></p> http://www.savvysugar.com/2246638#comment Banking news Mon, 06 Oct 2008 04:00:41 -0700 SavvySugar http://www.savvysugar.com/2246638 http://www.savvysugar.com/2155637 <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl1/10/104165/40_2008/wamu.jpg" alt="" title="" class="image right preview" height="278" width="300"></span>Washington Mutual's CEO Alan Fishman was hired on Sept. 7, less than three weeks before the bank failed and was purchased by JP Morgan Chase. JP Morgan hasn't decided the fate of the newbie CEO, but we can bet if he gets the boot he'll walk with much more than the $60,000 he was paid during those three weeks. Can you guess how much Fishman could receive for his severance package? </p> <p><a href="http://www.gettyimages.com/" target="_blank">Source</a></p> <p><a href="http://www.savvysugar.com/2155637">read more</a></p> http://www.savvysugar.com/2155637#comment Banking CEO guess how much news Thu, 02 Oct 2008 15:30:36 -0700 SavvySugar http://www.savvysugar.com/2155637 http://www.savvysugar.com/2154114 <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl1/10/104165/40_2008/foreclosure.jpg" alt="" title="" class="image left preview" height="207" width="310"></span>Much of the banking drama from the last few weeks can be traced back to bad mortgage bets, making us wish that homeowners were never approved for loans they never could have afforded. Yesterday, a government drafted <a href="http://money.cnn.com/2008/10/01/real_estate/mortgage_aid.ap/index.htm/" target="_blank">mortgage aid program launched</a> into action that aims to contain the mortgage crisis from causing more trouble. The $300 billion, three-year initiative aims to allow about 400,000 homeowners to exchange their existing mortgages for more affordable ones, therefore staving off potential foreclosures.</p> <p>Lenders must first decide if they want to participate in the program as they'd be taking losses on the existing loans, and it's not clear if the so-called "Hope for Homeowners" program will go over well in the industry. A report by the State Foreclosure Prevention Working Group is critical of the initiative and found that in the past year, about one in five loans that were adjusted to give more favorable lending terms became delinquent again. What do you think of the mortgage aid program? Are you hopeful that it will prevent more foreclosures? </p> <p><a href="http://www.gettyimages.com/" target="_blank">Source</a></p> http://www.savvysugar.com/2154114#comment economy housing mortgage news news flash Thu, 02 Oct 2008 04:00:13 -0700 SavvySugar http://www.savvysugar.com/2154114 http://www.savvysugar.com/2134118 <p>ABC News tried to come up with the simplest explanation for the credit crunch and why the government <a href="http://www.citizensugar.com/2119940/" >has been debating a potential bailout</a>, and its efforts resulted in a quick cartoon. Treasury Secretary Paulson and <a href="http://www.nytimes.com/2008/10/01/us/politics/01campaign.html/" target="_blank">both Presidential candidates</a> say that without a bailout package, there will be a credit crunch where businesses won't be able to meet payroll and consumers won't be able to get loans for college and homes. Check out the animated explanation of the credit crunch below. </p> <p><center> <div style='width:455px' id="spi_tabs_container"> <div id="spi_tabs_top"> <div id="spi_tabs_topL"></div> <div id="spi_tabs_topR"></div> </div> <div class="panel chatter_chatter fbceleb " > <center> <script type="text/javascript" src="http://images.teamsugar.com/static/js/swfobject.js"></script> <p style=margin:0px;padding:0px id="player_2134105"><a href="http://www.macromedia.com/go/getflashplayer">Get Flash</a> to see this player.</p> <script type="text/javascript"> var so2134105 = new SWFObject('/static/flash/mediaplayer.swf','mpl','400','300','7'); so2134105.addParam('allowfullscreen','true'); so2134105.addVariable("file",'2134105.flv'); so2134105.addVariable('height', 328); so2134105.addVariable('image','/media/cooked/thumbs/2134105.jpg'); so2134105.addVariable('width','400'); so2134105.addVariable('logo','/static/imgs/watermark/savvysugar.png'); so2134105.write('player_2134105'); </script> </center> </div> <div id="spi_tabs_bot"> <div id="spi_tabs_botL"></div> <div id="spi_tabs_botR"></div> </div> </div></center></p> http://www.savvysugar.com/2134118#comment economy news Wed, 01 Oct 2008 15:30:28 -0700 SavvySugar http://www.savvysugar.com/2134118 http://www.savvysugar.com/2120461 <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl1/10/104165/40_2008/cc.jpg" alt="" title="" class="image right preview" height="209" width="315"></span>Back in June, I mentioned that lenders were beginning <a href="http://www.savvysugar.com/1730296/" >to reduce credit card limits</a>, especially for customers living in areas suffering from the housing crisis, those who are self-employed with businesses in troubled industries, and customers that have large debts. The effects of loose credit became even more evident over the turbulent Summer, and now consumers with good credit are also <a href="http://online.wsj.com/article/SB122256964219083075.html" target="_blank">seeing their credit card limits cut</a>. </p> <p>According to Carol Kaplan, spokeswoman for the American Bankers Association, "Most banks are cutting their credit limits. They're doing it to everyone." <b>The Wall Street Journal</b> suggests five tips for protecting yourself as this new lower-limit trend spreads. See what they are when you </p> <p><a href="http://www.savvysugar.com/2120461">read more</a></p> http://www.savvysugar.com/2120461#comment credit card credit score economy news Wed, 01 Oct 2008 09:30:59 -0700 SavvySugar http://www.savvysugar.com/2120461 http://www.savvysugar.com/2136770 <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl1/10/104165/40_2008/maria.jpg" alt="" title="" class="image center preview" height="338" width="493"></span></p> <ul> <li>"Money Honey" Maria Bartiromo and "Street Sweetie" Erin Burnett are profiled in a compelling piece describing their impact on business news and the journey to the top of their field. — <a href="http://www.vanityfair.com/politics/features/2008/11/moneyhoney200811" target="_blank">Vanity Fair</a></li> <li>The FDIC has asked Congress for permission to raise the limit on the amount of money it insures for individual bank accounts from $100,000. They believe an increase could hold off customers from running bank deposits. — <a href="http://money.cnn.com/2008/09/30/news/economy/fdic_limits/index.htm/" target="_blank">CNN Money</a></li> <li>New research suggests high levels of testosterone are correlated with riskier financial behavior. Could it have played a role in causing the financial crisis? — <a href="http://www.sciam.com/blog/60-second-science/post.cfm?id=is-testosterone-to-blame-for-the-fi-2008-09-30" target="_blank">Scientific American</a></li> </ul> <p><a href="http://www.gettyimages.com/" target="_blank">Source</a></p> http://www.savvysugar.com/2136770#comment economy news news flash Wed, 01 Oct 2008 04:00:40 -0700 SavvySugar http://www.savvysugar.com/2136770 http://www.savvysugar.com/2131491 <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl1/10/104165/40_2008/market.jpg" alt="" title="" class="image center preview" height="340" width="510"></span></p> <p>When the market closed yesterday, the confusion and exhaustion caused by the recent events on Wall Street were escalated even more. The market suffered its biggest single-day loss in about 20 years after <a href="http://www.citizensugar.com/2119940/" >the House rejected the $700 billion</a> bailout bill and stumbled back to the drawing board. <a href="http://www.nytimes.com/2008/09/30/business/yourmoney/30money.html/" target="_blank">The New York Times reacted</a> to the news by providing a Q&amp;A for the average saver and investor, and I've selected what I consider the four most relevant topics they covered. </p> <ol> <li><b>Why did the stock market fall so far so fast on Monday?</b> Fear is likely the biggest factor. It could be a while before businesses have access to the short-term loans they need to operate a profit-making venture.</li> <li><b>My retirement portfolio has been wrecked by this. How should I respond?</b> Keep saving and contributing enough to your 401(k) to get your company's match if it offers one. Because your savings have taken a beating they will need more time to cycle back to a place where you can retire comfortably.</li> </ol> <p>See two more sets of questions and answers when you </p> <p><a href="http://www.savvysugar.com/2131491">read more</a></p> http://www.savvysugar.com/2131491#comment economy news Savvy ATM Tue, 30 Sep 2008 11:00:29 -0700 SavvySugar http://www.savvysugar.com/2131491 http://www.savvysugar.com/2117710 <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl1/10/104165/40_2008/target.jpg" alt="" title="" class="image left preview" height="388" width="260"></span>The years of consumer excess have finally begun to take their toll on retailers — they constantly asked people to sign up for credit cards in exchange for discounts, and now that strategy is backfiring as consumers struggle to pay back their debt. Hopefully those of you that are <a href="http://www.savvysugar.com/1848162/" >carrying store credit cards</a> in your wallets are not part of the growing population that are falling <a href="http://www.nypost.com/seven/09282008/business/the_next_shoe_drops_131140.htm/" target="_blank">behind on their store credit card</a> bills. </p> <p>Stores like Target, Home Depot, and Macy's are caught in a bad place going into the holiday season. More and more customers are defaulting on their store cards, which can erode the stores' margins, and the higher delinquency frequency comes at a time when retailers are already anticipating the worst holiday sales in years. Customers with pattern defaults may discover their cards canceled without any say, as the banks that own the store credit portfolios are proactively trying to protect themselves. </p> <p><a href="http://www.gettyimages.com/" target="_blank">Source</a></p> http://www.savvysugar.com/2117710#comment consumerism credit card credit card debt debt news Tue, 30 Sep 2008 04:00:40 -0700 SavvySugar http://www.savvysugar.com/2117710 http://www.savvysugar.com/2104180 <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl1/10/104165/39_2008/got-milk.jpg" alt="" title="" class="image right preview" height="418" width="270"></span>The concept of asking consumers to develop advertising campaigns for certain products hasn't been addressed by the marketing minds on <a href="http://www.buzzsugar.com/tag/Mad+Men/" >Mad Men</a>, but today's advertising agencies are increasingly seeking consumer-driven marketing ideas. The Got Milk campaign has recently <a href="http://www.nytimes.com/2008/09/26/business/media/26adco.html/" target="_blank">recruited California high school students</a> to develop ideas for ads that could run next year and are meant to inspire teenagers to drink more milk. </p> <p>The California Milk Processor Board is hardly alone in challenging consumers to be creative; it's a trend that's becoming more common in marketing today. Jeff Goodby, co-chairman at Goodby, Silverstein, explains: "The idea is that it’s fine to involve people in the solution of problems. And people love to see if they can do as good a job as the professionals." The kids are getting a peek into what it's like to work in advertising while the Got Milk campaign is getting fresh ideas from the consumer group they're trying to win over — sounds like it could be a winning combination. </p> <p><a href="http://www.gettyimages.com/" target="_blank">Source</a></p> http://www.savvysugar.com/2104180#comment advertising business consumerism news Mon, 29 Sep 2008 15:30:09 -0700 SavvySugar http://www.savvysugar.com/2104180 http://www.savvysugar.com/2105982 <p>Recent months have brought many changes in the banking industry, some that have included the disappearance of names that we thought would carry on for as long as we needed banks. The government has been a pivotal hand in orchestrating deals involving one bank buying a suffering bank at bargain prices; do you know which busted banks are now under the umbrella of other institutions? Take the quiz! </p> <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl1/10/104165/39_2008/bank.jpg" alt="" title="" class="image center preview" height="323" width="510"></span></p> <p><a href="http://www.gettyimages.com/" target="_blank">Source</a></p> <p><a href="http://www.savvysugar.com/2105982">read more</a></p> http://www.savvysugar.com/2105982#comment Banking How Money Are You news quiz Savvy quiz Mon, 29 Sep 2008 06:00:28 -0700 SavvySugar http://www.savvysugar.com/2105982 http://www.savvysugar.com/2086806 <p>Sorting through the news lately has been an emotional, stressful experience that has everyone worked up. While it's important to understand how things came to be and the who's who of what's happening now, it's just as worthwhile (and maybe more so) to know how the Wall Street mess affects you and me. Here are some points to consider when trying to make sense of the various moving pieces. </p> <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl1/10/104165/39_2008/wall-st_0.jpg" alt="" title="" class="image center preview" height="337" width="506"></span></p> <ol> <li><b>Employment</b>: Hiring has slowed and employers are cutting back — employers that are hiring <a href="http://money.cnn.com/2008/09/23/pf/job_impact/index.htm/" target="_blank">are holding more rounds of interviews</a> and being more selective. Layoffs lead to a decrease in consumer spending, which can cause businesses to cut back even more, and so on. If you have a job, it may be more difficult to get a raise because your employer feels the pinch of a weakened economy.</li> </ol> <p>Discover how borrowing and cash are affected when you </p> <p><a href="http://www.savvysugar.com/2086806">read more</a></p> http://www.savvysugar.com/2086806#comment credit score economy loan news Savvy ATM Fri, 26 Sep 2008 09:30:38 -0700 SavvySugar http://www.savvysugar.com/2086806 http://www.savvysugar.com/2079523 <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl1/10/104165/39_2008/bonus.jpg" alt="" title="" class="image left preview" height="280" width="280"></span>Wall Streeters used to the unfathomably generous bonuses of years past will likely be facing lighter stockings (OK, direct deposits) this year. Goldman Sachs and Morgan Stanley employees are now employed <a href="http://www.savvysugar.com/2060558/" >by bank holding companies</a> with payment structures closer to traditional commercial banks rather than investment banks, meaning Goldman's 2007 <a href="http://www.savvysugar.com/902872/" >$12.1 billion bonus pool</a> will be shallower in 2008. </p> <p>The bonuses may be scaled down from past years, but employees will still receive bonuses bigger than what most of us outside the financial world will ever see. Goldman's bonus payouts last year averaged about $400,000 per person, while Citigroup paid its investment banking employees <a href="http://www.nypost.com/seven/09242008/business/bye_bye_bonuses_130519.htm/" target="_blank">bonuses of about $100,000 per person</a>. If Goldman employees are rewarded with a fraction of what they were accustomed to, it's not a bad chunk of change. Still, there's concern that New York's economy will suffer because of reduced spending on everything from housing to entertainment. </p> <p><a href="http://www.gettyimages.com/" target="_blank">Source</a></p> http://www.savvysugar.com/2079523#comment Banking bonus economy income news Thu, 25 Sep 2008 14:00:11 -0700 SavvySugar http://www.savvysugar.com/2079523 http://www.savvysugar.com/2078292 <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl1/10/104165/39_2008/penny.jpg" alt="" title="" class="image center preview" height="359" width="520"></span></p> <p>Earlier this year the five dollar bill featuring Abraham Lincoln's face was given <a href="http://www.savvysugar.com/1530742/" >a purple makeover</a>, and now the US Mint is introducing not one but <a href="http://ap.google.com/article/ALeqM5het_daiqpVlw58pVg2L59NWah4eAD93CCT680" target="_blank">four new penny designs</a>! Abe would be turning 200 next year and the occasion is being honored with the release of the new pennies, and it's the first time the penny has been altered in 50 years.</p> <p>Lincoln's profile will remain as we've known it on one side of the penny and the other side will feature new images. The first of the four designs will be released into circulation starting on Feb. 12 (Abe's birthday) and a different penny will be introduced every three months. The different images depict a log cabin, a young Lincoln reading a book, Lincoln as a young lawyer in Springfield, IL, and a half-completed Capitol dome. </p> <p><a href="http://www.gettyimages.com/" target="_blank">Source</a></p> http://www.savvysugar.com/2078292#comment currency money news Thu, 25 Sep 2008 11:00:23 -0700 SavvySugar http://www.savvysugar.com/2078292 http://www.savvysugar.com/2078532 <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl1/10/104165/39_2008/tax.jpg" alt="" title="" class="image left preview" height="227" width="300"></span>Almost 60 percent of you said that <a href="http://www.savvysugar.com/1073533/" >you used Turbotax's tax prep software</a> to file your taxes, so I know the most recent announcement regarding the product will come as good news. Intuit, the company that owns Turbotax, has changed their policy and will <a href="http://www.businesswire.com/portal/site/home/permalink/?ndmViewId=news_view&amp;newsId=20080923006633&amp;newsLang=en" target="_blank">no longer charge separate fees</a> for filing individual federal tax returns. </p> <p>This does not mean that the tax prep software is free, just the e-filing part of the equation. Kiran Patel, senior vice president and general manager of Intuit's Consumer Tax Division said, "Eliminating separate fees for filing individual federal tax returns is the right thing for American taxpayers. This will encourage more e-filed returns and help the IRS achieve its e-file goals." According to the Turbotax website, <a href="http://turbotax.intuit.com/tax-tools/electronic_tax_filing_efile_faq/article#cost/" target="_blank">e-filing can cost up to $25</a>. Will the fact that it's now free encourage you to e-file your taxes next season? </p> <p><a href="http://www.gettyimages.com/" target="_blank">Source</a></p> http://www.savvysugar.com/2078532#comment news tax return taxes Thu, 25 Sep 2008 04:00:12 -0700 SavvySugar http://www.savvysugar.com/2078532 http://www.savvysugar.com/2069971 <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl1/10/104165/39_2008/money.jpg" alt="" title="" class="image left preview" height="207" width="310"></span>The CEOs of Fannie Mae and Freddie Mac were refused the <a href="http://www.savvysugar.com/2021489/" >generous golden parachutes</a> they'd been counting on when their respective enterprises were taken over by federal regulators, and most recently the replaced CEO of American International Group (AIG) <a href="http://abcnews.go.com/Business/MarketTalk/story?id=5861458&amp;page=1" target="_blank">voluntarily abandoned his $22 million</a> severance package. </p> <p>Robert Willumstad served as CEO to insurance giant AIG and could have taken his $22 million into a slightly early retirement at the age of 63, but he stated, "I prefer not to receive severance payments while shareholders and employees have lost considerable value in their AIG shares." What would you do in his position — would you walk away from this kind of package or take the money and move on? </p> <p><a href="http://www.gettyimages.com/" target="_blank">Source</a></p> http://www.savvysugar.com/2069971#comment business CEO golden parachute news Wed, 24 Sep 2008 12:30:15 -0700 SavvySugar http://www.savvysugar.com/2069971 http://www.savvysugar.com/2071723 <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl1/10/104165/39_2008/card_0.jpg" alt="" title="" class="image right preview" height="346" width="230"></span> <ul> <li>The House passed a bill that would limit surprise interest-rate increases and fees for credit-card users, but it still faces Senate approval and won't be reviewed until the bailout plan has been finalized. — <a href="http://www.reuters.com/article/domesticNews/idUSTRE48MA2P20080923/" target="_blank">Reuters</a></li> <li>Is your head spinning from all of the recent economic news? Here are 15 things you should know about what's gone down. — <a href="http://www.kiplinger.com/features/archives/2008/09/how_the_financial_crisis_started.html" target="_blank">Kiplinger</a></li> <li>How the really wealthy cut back: postponed plastic surgery, cheaper help, and less pretentious parties. — <a href="http://online.wsj.com/article/SB122187131490959185.html" target="_blank">The Wall Street Journal</a></li> </ul> <p><br clear=all><br /> <a href="http://www.gettyimages.com/" target="_blank">Source</a></p> http://www.savvysugar.com/2071723#comment credit cards economy news news flash Wed, 24 Sep 2008 04:00:53 -0700 SavvySugar http://www.savvysugar.com/2071723 http://www.savvysugar.com/2064079 <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl1/10/104165/39_2008/wamu.jpg" alt="" title="" class="image right preview" height="404" width="300"></span> Because so many of you bank with Washington Mutual, I wanted to give you a heads up about its most recent promotion. Today the bank raised its online <a href="http://www.wamufreechecking.com/Free_Checking/index.html" target="_blank">savings rate to four percent</a>, which is higher than most interest rates I've seen lately. Most of you who use WaMu <a href="http://www.savvysugar.com/2039550/" >are sticking with the bank</a> despite its troubles, so why not take this opportunity to start that savings account you've been putting off? As long as your account is less than $100,000, your funds are insured by the FDIC. </p> <p><br clear=all></p> <p><a href="http://www.gettyimages.com/" target="_blank">Source</a></p> http://www.savvysugar.com/2064079#comment Banking high-yield savings news Washington Mutual Tue, 23 Sep 2008 15:30:18 -0700 SavvySugar http://www.savvysugar.com/2064079 http://www.savvysugar.com/2060558 <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl1/10/104165/39_2008/wall-st.jpg" alt="" title="" class="image center preview" height="340" width="510"></span></p> <p>While most of us were logging in couch time and watching the <a href="http://buzzsugar.com/tag/2008+primetime+emmy+awards/" >Emmys</a> on Sunday night, the Federal Reserve was hard at work creating a new measure that converted investment banks Morgan Stanley and Goldman Sachs <a href="http://online.wsj.com/article/SB122202739111460721.html" target="_blank">into traditional bank holding companies</a>. The two firms were the last standing <a href="http://www.savvysugar.com/2019855/" >independent investment banks</a> on Wall Street, and the conversion to bank holding companies truly marks the end of an era. </p> <p>As bank holding companies, the two companies will be regulated by the Fed and held to much stricter capital requirements than in their previous independent lives. In order to preserve and increase liquidity, the banks will now rely on deposits for capital instead of short-term funding, and the reclassification will allow the banks to <a href="http://money.cnn.com/2008/09/21/news/companies/goldman_morgan/index.htm/" target="_blank">build up banking activities</a> on top of the existing investment focus. </p> <p><a href="http://www.gettyimages.com/" target="_blank">Source</a></p> http://www.savvysugar.com/2060558#comment Banking economy Fed Federal Reserve news Mon, 22 Sep 2008 15:30:54 -0700 SavvySugar http://www.savvysugar.com/2060558 http://www.savvysugar.com/2040431 <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl1/10/104165/38_2008/can.jpg" alt="" title="" class="image right preview" height="300" width="300"></span>US Airways may be the only carrier to charge for nonalcoholic drinks, but after reports of <a href="http://www.latimes.com/business/la-fi-usair19-2008sep19,0,5186413.story" target="_blank">how beneficial the change has been</a>, I wouldn't be surprised if other airlines pick up the policy. Flight attendants <a href="http://www.savvysugar.com/1840020/" >were initially resistant</a> to the pay-for-drinks policy, and now it seems many of them are changing their tune about the $2 rule. </p> <p>In-flight bathroom lines are shorter because fewer passengers are guzzling beverages, trash collection is less of a hassle, and aisles spend less time being blocked by the beverage cart. It seems like what is meant to simply raise revenue for a struggling airline has also become a lesson in consumption: people will consume something if it's free, even if they don't really need it. I wonder which airline will be next to nix their complementary drinks? It's just a matter of time. </p> <p><a href="http://www.gettyimages.com/" target="_blank">Source</a></p> http://www.savvysugar.com/2040431#comment airline fees news travel Sat, 20 Sep 2008 11:00:23 -0700 SavvySugar http://www.savvysugar.com/2040431 http://www.savvysugar.com/2039550 <!-- no strip poll --><div id="epoll-view-2039550"></div><script type="text/javascript">new Ajax.Request('/epoll/view/2039550',{method:'get',onSuccess:function(transport){var epoll=$('epoll-view-2039550');epoll.update(transport.responseText);}});</script><noscript><p><p><span class="inline left"><img src="http://images.teamsugar.com/files/upl1/10/104165/38_2008/wamu_0.jpg" alt="" title="" class="image left preview" height="417" width="280"></span>Whoo hoo is probably not the best way to express the present sentiments of Washington Mutual's customers and employees. The troubled bank has been looking for a buyer all week and there's a <a href="http://www.businessweek.com/bwdaily/dnflash/content/sep2008/db20080916_498821.htm" target="_blank">possibility that WaMu could go under</a>. </p> <p>If your accounts with WaMu are worth less than $100,000 than the FDIC will insure that you don't lose a cent, so transferring your money to another bank wouldn't do much to protect your cash further. Do you bank with Washington Mutual? </p> <p><br clear=all></p> <p><a href="http://www.gettyimages.com/" target="_blank">Source</a></p> </p><!-- no strip poll --><form action="/2039550" method="post" id="epoll_view_voting"> <div><div class="poll"> <div class="vote-form"> <div class="choices"><div class="form-item"> <label>Do You Bank With Washington Mutual? </label> <div class="form-item"> <label class="option"><input type="radio" name="edit[choice]" value="0" class="form-radio" /> Yes, and I don't plan on transferring my account to another bank.</label> </div> <div class="form-item"> <label class="option"><input type="radio" name="edit[choice]" value="1" class="form-radio" /> Yes, but I'm transferring my money in case WaMu goes under.</label> </div> <div class="form-item"> <label class="option"><input type="radio" name="edit[choice]" value="2" class="form-radio" /> No, I don't bank with Washington Mutual.</label> </div> </div> </div><input type="hidden" name="edit[nid]" id="edit-nid" value="2039550" /> <input type="submit" name="op" value="Vote" class="form-submit" /> </div><input type="hidden" name="edit[form_id]" id="edit-form_id" value="epoll_view_voting" /> </div> </div></form> <!-- no strip poll --></noscript><!-- no strip poll --> http://www.savvysugar.com/2039550#comment Banking news poll Savvy poll Washington Mutual Your Two Cents Fri, 19 Sep 2008 14:00:41 -0700 SavvySugar http://www.savvysugar.com/2039550 http://www.savvysugar.com/2037299 <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl1/10/104165/38_2008/mug.jpg" alt="" title="" class="image center preview" height="375" width="500"></span>Down-and-out Lehman Brothers ex-employees know that <a href="http://www.savvysugar.com/2030189/" >selling stuff online</a> is a quick way to raise cash, and wasted no time in posting <a href="http://shop.ebay.com/items/__Lehman-Brothers_W0QQ_nkwZLehmanQ20BrothersQQQ5ftrkparmsZ72Q253A570Q257C39Q253A1Q257C66Q253A4Q257C65Q253A12QQQ5ftrksidZp3286Q2ec0Q2em14QQ_ipgZ200QQ_scZ1QQ_sopZ3/" target="_blank">company memorabilia on eBay</a>. And people are bidding! Take this up-for-grabs company mug, which is already going for more than $80! </p> <p>After <a href="http://www.savvysugar.com/2019855/" >the way things turned out</a>, I wouldn't want nostalgic company swag laying around to conjure maddening memories, either. Lehman Brothers goods aren't going for cheap! Everything from paperweights to leather mousepads (really, leather?) are the subject of surprisingly high bidding wars. Check out some of the for sale items in the gallery below. </p> <p><p><div style="float:left;line-height:8px;margin-bottom:0px;font-size:9px"><div id=mask-80253 class=mask style=';width:100px;height:100px;overflow:hidden;background:#FFF;margin:0px 8px 8px 0px;border:0px solid #111;padding:0px;' onmouseover={style.borderColor='#1A3664'} onmouseout={style.borderColor='#111'}><div style='margin-left:0px;margin-top:0px;padding:0px;'><a target="gallery4" class="thumb2 active" href="http://www.savvysugar.com/gallery/view/2037699?page=0,0,0"><img src="http://images.teamsugar.com/files/upl1/10/104165/38_2008/4b32_35_5.mediumsquare.JPG" alt="" title="" class="image mediumsquare" /></a></div></div></div><div style="float:left;line-height:8px;margin-bottom:0px;font-size:9px"><div id=mask-53776 class=mask style=';width:100px;height:100px;overflow:hidden;background:#FFF;margin:0px 8px 8px 0px;border:0px solid #111;padding:0px;' onmouseover={style.borderColor='#1A3664'} onmouseout={style.borderColor='#111'}><div style='margin-left:0px;margin-top:0px;padding:0px;'><a target="gallery4" class="thumb2 " href="http://www.savvysugar.com/gallery/view/2037699?page=0,1,0"><img src="http://images.teamsugar.com/files/upl1/10/104165/38_2008/5bb5_35_4.mediumsquare.JPG" alt="" title="" class="image mediumsquare" /></a></div></div></div><div style="float:left;line-height:8px;margin-bottom:0px;font-size:9px"><div id=mask-91090 class=mask style=';width:100px;height:100px;overflow:hidden;background:#FFF;margin:0px 8px 8px 0px;border:0px solid #111;padding:0px;' onmouseover={style.borderColor='#1A3664'} onmouseout={style.borderColor='#111'}><div style='margin-left:0px;margin-top:0px;padding:0px;'><a target="gallery4" class="thumb2 " href="http://www.savvysugar.com/gallery/view/2037699?page=0,2,0"><img src="http://images.teamsugar.com/files/upl1/10/104165/38_2008/7a10_35_4.mediumsquare.JPG" alt="" title="" class="image mediumsquare" /></a></div></div></div><div style="float:left;line-height:8px;margin-bottom:0px;font-size:9px"><div id=mask-68018 class=mask style=';width:100px;height:100px;overflow:hidden;background:#FFF;margin:0px 8px 8px 0px;border:0px solid #111;padding:0px;' onmouseover={style.borderColor='#1A3664'} onmouseout={style.borderColor='#111'}><div style='margin-left:0px;margin-top:0px;padding:0px;'><a target="gallery4" class="thumb2 " href="http://www.savvysugar.com/gallery/view/2037699?page=0,3,0"><img src="http://images.teamsugar.com/files/upl1/10/104165/38_2008/55a8_35_4.mediumsquare.JPG" alt="" title="" class="image mediumsquare" /></a></div></div></div><div style="float:left;line-height:8px;margin-bottom:0px;font-size:9px"><div id=mask-47811 class=mask style=';width:100px;height:100px;overflow:hidden;background:#FFF;margin:0px 8px 8px 0px;border:0px solid #111;padding:0px;' onmouseover={style.borderColor='#1A3664'} onmouseout={style.borderColor='#111'}><div style='margin-left:0px;margin-top:0px;padding:0px;'><a target="gallery4" class="thumb2 " href="http://www.savvysugar.com/gallery/view/2037699?page=0,4,0"><img src="http://images.teamsugar.com/files/upl1/10/104165/38_2008/b623_35_4.mediumsquare.JPG" alt="" title="" class="image mediumsquare" /></a></div></div></div><div style="float:left;line-height:8px;margin-bottom:0px;font-size:9px"><div id=mask-96828 class=mask style=';width:100px;height:100px;overflow:hidden;background:#FFF;margin:0px 8px 8px 0px;border:0px solid #111;padding:0px;' onmouseover={style.borderColor='#1A3664'} onmouseout={style.borderColor='#111'}><div style='margin-left:0px;margin-top:0px;padding:0px;'><a target="gallery4" class="thumb2 " href="http://www.savvysugar.com/gallery/view/2037699?page=0,5,0"><img src="http://images.teamsugar.com/files/upl1/10/104165/38_2008/cac4_35_4.mediumsquare.JPG" alt="" title="" class="image mediumsquare" /></a></div></div></div><div style="float:left;line-height:8px;margin-bottom:0px;font-size:9px"><div id=mask-16840 class=mask style=';width:100px;height:100px;overflow:hidden;background:#FFF;margin:0px 8px 8px 0px;border:0px solid #111;padding:0px;' onmouseover={style.borderColor='#1A3664'} onmouseout={style.borderColor='#111'}><div style='margin-left:0px;margin-top:0px;padding:0px;'><a target="gallery4" class="thumb2 " href="http://www.savvysugar.com/gallery/view/2037699?page=0,6,0"><img src="http://images.teamsugar.com/files/upl1/10/104165/38_2008/cc16_4.mediumsquare.jpg" alt="" title="" class="image mediumsquare" /></a></div></div></div><div style="float:left;line-height:8px;margin-bottom:0px;font-size:9px"><div id=mask-27592 class=mask style=';width:100px;height:100px;overflow:hidden;background:#FFF;margin:0px 8px 8px 0px;border:0px solid #111;padding:0px;' onmouseover={style.borderColor='#1A3664'} onmouseout={style.borderColor='#111'}><div style='margin-left:0px;margin-top:0px;padding:0px;'><a target="gallery4" class="thumb2 " href="http://www.savvysugar.com/gallery/view/2037699?page=0,7,0"><img src="http://images.teamsugar.com/files/upl1/10/104165/38_2008/d5e6_2_4.mediumsquare.JPG" alt="" title="" class="image mediumsquare" /></a></div></div></div><div style="float:left;line-height:8px;margin-bottom:0px;font-size:9px"><div id=mask-15597 class=mask style=';width:100px;height:100px;overflow:hidden;background:#FFF;margin:0px 8px 8px 0px;border:0px solid #111;padding:0px;' onmouseover={style.borderColor='#1A3664'} onmouseout={style.borderColor='#111'}><div style='margin-left:0px;margin-top:0px;padding:0px;'><a target="gallery4" class="thumb2 " href="http://www.savvysugar.com/gallery/view/2037699?page=0,8,0"><img src="http://images.teamsugar.com/files/upl1/10/104165/38_2008/78e3_35.mediumsquare.JPG" alt="" title="" class="image mediumsquare" /></a></div></div></div></p><br clear="all"></p> http://www.savvysugar.com/2037299#comment eBay job loss news Fri, 19 Sep 2008 12:30:10 -0700 SavvySugar http://www.savvysugar.com/2037299 http://www.savvysugar.com/2037967 <p><span class="inline left"><img src="http://images.teamsugar.com/files/upl1/10/104165/38_2008/market.jpg" alt="" title="" class="image right preview" height="365" width="300"></span>Most of you aren't fans of the <a href="http://www.citizensugar.com/2032290/" >government bailing out private banks</a>, but <a href="http://www.cbsnews.com/stories/2008/09/18/business/main4456953.shtml/" target="_blank">the market reacted more than kindly</a> to the government's announcement that it may create an agency to buy bad debt from banks. Bad debt refers to the mortgage-related assets that were the Achilles heel to once Wall Street giants Lehman Brothers and Bear Stearns. </p> <p>The market showed its largest percentage point gain in six years but is still down for the week. What's with the fluctuation? Markets are always sensitive to news, but a week of unexpected headlines has created an even more volatile market. For the moment, investors feel reassured that the government is planning a large scale bailout that is aimed at containing the credit crisis. </p> <p><a href="http://www.gettyimages.com/" target="_blank">Source</a></p> http://www.savvysugar.com/2037967#comment investing market news Fri, 19 Sep 2008 04:00:34 -0700 SavvySugar http://www.savvysugar.com/2037967 http://www.savvysugar.com/slideshow/2032025 <a href="/slideshow/2032025?page=0"><img src="http://images.teamsugar.com/files/upl1/10/104165/38_2008/germany_0.xlarge.jpg" alt="More Than Words: The Week In Pictures" title="More Than Words: The Week In Pictures" class="image xlarge inline left" /></a>The universal symbols for stress and disbelief are hand-over-mouth or hand-on-head — just take one look at the expressions and body language on these international faces after this week's developments. The week is not yet over, but so much has occurred in the financial world: The <a href="http://www.savvysugar.com/2019855/">collapse of Lehman Brothers</a> and the purchase of Merrill Lynch by Bank of America, not to mention the <a href="http://www.nytimes.com/2008/09/18/business/18insure.html/">surprising government takeover</a> of insurance giant AIG, has created a whirlwind of history-making events. See genuine reactions to it all — hit 'start slideshow' to begin. <div id='pager' style='margin:25px auto;text-align:center;margin:8px; '><a href="/slideshow/2032025?page=0">Start Slideshow</a></div> http://www.savvysugar.com/slideshow/2032025#comment economy news slideshow Thu, 18 Sep 2008 09:30:12 -0700 SavvySugar http://www.savvysugar.com/2032025