Category Archives: News

Student loans next big bailout

The job market is anemic and college graduates cannot find work. To make matters worse, according to Fox News, there are currently $1.11 trillion in student loans outstanding and $121 billion of them are 90-plus days delinquent or in default. Experts now suggest what many of us have known for years, we should expect the government to push for a taxpayer bailout of the government-subsidized student loans program.

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Big savings on everyday purchases

CNN reports we may be in for a bumpy ride. Despite what the administration keeps peddling, according to the Bureau of Economic Analysis, the economy is down for the first quarter of 2014. In fact, “the gross domestic product, the broadest measure of economic growth, fell at a 1% annual pace.” Economists remain optimistic, however, claiming it’s likely to bounce back this spring and summer, but for those of us that feel like the country never really came out of the recession we may need a few more practical steps to increase our savings.

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Higher wages could lead to automated jobs

Restaurant workers have been protesting low wages across the country, but restaurant industry backers are saying be careful what you wish for. What happens when workers demand higher wages companies cannot afford? Companies will begin to try to find ways to offset the costs of higher wages. In fact, some companies have already begun researching new technologies to eliminate restaurant workers altogether.

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JPMorgan Chase offer $100 million to Detroit

Who doesn’t love it when a plan starts to come together? Detroit’s economic recovery may not be a wish upon a star anymore, especially if private businesses and charity groups continue to come together to support the ailing city. Reuters reports there is a new player in the game- JPMorgan Chase and Co. According to recent reports issued yesterday, the mega bank has agreed to provide the city with $100 million over five years to stimulate economic growth and development.

JPMorgan Chase Tower (Dallas)

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Target earnings could be less than expected

Target will release their earnings report this Wednesday, but CNN reports the clothing retailer may be a bit nervous given negative publicity following their data issues from earlier this year and the surprise resignation of former CEO Gregg Steinhafel who resigned on May 5, 2014. Experts claim the retail giant may not have done enough over the past four months to assure their shoppers that their data is safe. Target’s shares have dropped about 6% since the CEO Gregg Steinhafel’s resignation.

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San Bernardino judge frustrated with slow bankruptcy process

While other larger bankruptcy cases in Detroit and Stockton seem to be moving along, Reuters reports the bankruptcy judge in the San Bernardino bankruptcy case has complained about the inability of the city and their largest creditor California Public Employees’ Retirement System (Calpers) to come to an agreement.

Bankruptcy

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