Person swiping debit card (© Getty Images)
Illegal debit card fees won't die

Despite a January lawsuit settlement, many merchants are still dinging users. Insisting on minimum purchase amounts is also a no-no. 

 

LATEST POSTS

A former Wall Street hotshot writes a moving essay about how her constant focus on work led her to sacrifice everything else.

By Kim Peterson Mar 13, 2013 3:19PM
Image: Businesswoman using laptop and telephone -- Terry Vine, Blend Images, Getty ImagesErin Callan climbed to the highest echelons of Wall Street, serving as chief financial officer of Lehman Brothers at just 41 years of age. She smashed through the glass ceiling as her brains, her personality and her good looks fueled a superstar career.

But that life came crashing down in 2008, when she resigned weeks before Lehman declared bankruptcy. She spent a few months working at Credit Suisse (CS), Fortune reports, but then just seemed to vanish.

But this month, Callan published a moving essay in The New York Times explaining just what happened to her, and how her intense focus on work ruined so much of her personal life.

She didn't start out as a slave to work, she writes.  

It seems most folks do, at least according to some 'research' candy-maker Just Born has done as the treat celebrates its 60th anniversary.

By Jonathan Berr Mar 13, 2013 3:04PM

For the last 60 springs, the Easter Bunny and his human assistants (moms and dads) have made sure that the baskets he delivers to the world's children are stocked with Peeps.


The colorful marshmallow candy, which this month celebrates that milestone 60th anniversary, continues to be a favorite with the public. Candy-maker Just Born says it has been the top non-chocolate Easter brand for more than 20 years. The company expects to make more than 1 billion Peeps this year, up from more than 800 million made during recent Easters. The closely held company makes enough Peeps every year to circle the earth twice, according to its website.

 

The Los Angeles chapter, accused of accepting money for good ratings, gets kicked out of the organization, which is already struggling for relevance.

By Aimee Picchi Mar 13, 2013 2:27PM

Downtown Los Angeles Disney Hall (© Ed Freeman/The Image Bank/Getty Images)Updated 6:40 p.m. ET


The Better Business Bureau was where your grandmother turned when she had a concern about a business' reputation. But the century-old group is no longer the only watchdog in town, and a recent scandal is threatening to ding its own reputation. 


After a series of troubling allegations, the BBB has kicked out its Los Angeles chapter. Among the claims are that the local group demanded payments from local businesses in exchange for good ratings and that it even accepted fake businesses as long as they paid up, reports The Los Angeles Times


The scandal comes at a delicate time for the watchdog, as its influence has waned with the growing popularity of Internet review sites such as Yelp (YELP) and Angie's List (ANGI). 

 

Some people fear a purchase by the billionaire brothers could transform the newspaper into a pulpit for their political views.

By Aimee Picchi Mar 13, 2013 2:00PM

Image: Printing press (© James Hardy/Getty Images)The Koch brothers -- called "the 1% at its very worst" -- aren't exactly popular with liberals, but apparently the billionaires are willing to spend a big chunk of change to take control of what many consider the liberal press.


Charles and David Koch, who are ranked as the world's sixth- and seventh-wealthiest people by the Bloomberg Billionaire index, are interested in Tribune's (TRBAA) newspapers, which include the Los Angeles Times and the Chicago Tribune, reports Reuters.


It's unlikely that the Koch brothers would keep the newspaper untouched, based on the track record of others who've made vanity purchases. With the value of newspapers falling precipitously, it makes them more affordable for businesses and wealthy people with an agenda to buy them for use as a bully pulpit.

 

The husband of former US Rep. Gabrielle Giffords shows how easy it is to buy a military-style rifle. But walking out the store with that rifle isn't easy at all.

By Kim Peterson Mar 13, 2013 1:41PM
Mark Kelly in a Tuscon, Ariz., gun store (Captain Mark Kelly/Facebook)The photo itself is fairly mundane. Mark Kelly, the husband of former U.S. Rep. Gabrielle Giffords, posted a picture Friday on Facebook (FB) of himself signing paperwork to buy a military-style rifle.

But that photo (pictured) has started a firestorm of debate, attracting more than 5,000 comments about gun control, the government, and politics. Many commenters called Kelly a hypocrite, while others cheered him on. The discussion comes as Congress pushes forward with legislation mandating stricter background checks for gun purchases.

In his posting, Kelly said he went to a gun store in Tucson, Ariz., to buy a 45.-caliber handgun. As he was leaving, he noticed a used AR-15 rifle and bought it as well. He noted how easy it was to buy the rifle. 
Tags: DramaGuns

A joint bid by Pabst owner Metropolous & Co. and Apollo Management Group gets OK'd, and the snacks could be selling by summer.

By Jason Notte Mar 13, 2013 12:53PM
Twin pack of Hostess Twinkies (© PAUL J. RICHARDS/AFP/Getty Images)Dry your tears, Twinkies fans. Your long, preservative-deprived nightmare is ending.


Thanks to the same benevolent folks who gave America back its Pabst Blue Ribbon beer and their private equity friends, the filling-stuffed snack cakes could be back on shelves by summer. According to CNNMoney, a bankruptcy court accepted the $410 million bid from Pabst owners Metropolous & Co. and private equity firm Apollo Global Management (APO) on Monday.


It helps just a little that the joint bid was the only one in the running for the iconic cake treat and its Hostess stablemates. As of Thursday, the court was ready to set up an auction among qualified bidders to determine who would get these goodies. But Hostess came back to the court on Monday and told it that no other bid came close, giving Metropolous and Apollo a win by default.

 

The competitive pressures are mounting on the iPad and iPhone. The next direct hit could come from Samsung's new Galaxy S4 smartphone.

By Jonathan Berr Mar 13, 2013 12:25PM
Image: Apple iPadApple (AAPL), once adored on Wall Street, can't catch a break these days as rivals continue to target its iPad and iPhone with gusto.

The iPad's reign as the top tablet computer may be coming to an end. According to IDC, devices running Google's (GOOG) Android mobile operating system will take 48.8% of the market in 2013, higher than an earlier forecast of 41.5%.  Apple's share, by contrast, should drop to 46% this year from 51% last year. 

Microsoft (MSFT) is a long-term threat to both companies. (Microsoft owns and publishes moneyNOW, an MSN Money site.) Windows-based tablets had 1% of the market in 2012, and IDC forecasts a 7.4% share by 2017. The overall outlook for tablets is bullish, thanks to the surging popularity of small, lower-cost devices, according to IDC. 

It says customers have cashed $1.3 billion less in refunds than a year ago. Who's to blame? The IRS and H&R Block.

By Aimee Picchi Mar 13, 2013 11:45AM

Image: Tax refund (© Rubberball/Jupiterimages)For Wal-Mart (WMT), tax season is big business. The retailer not only prepares its customers' taxes but also relies on the refunds to fuel retail purchases. It offers tax refund specials on things like flat-screen TVs and new mattresses.


But that reliance is growing into a headache. The problem is that customers are getting their refund checks later than usual, which the retailer blamed for the slow start to its current quarter. 


Wal-Mart has now put some numbers behind its claim. Chief Financial Officer Charles Holley said Tuesday that only $2.7 billion in tax refund checks have been cashed so far in its U.S. stores. Sounds good? Well, that's down from $4 billion a year ago, according to Reuters. As my colleague Charley Blaine wrote in February, Wal-Mart had its worst start to that month in at least seven years, partly because of the delayed returns. 

 

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MARKET UPDATE

[BRIEFING.COM] The S&P 500 ended this week with a bang, roaring to a new all-time high on the back of stronger-than-expected economic data, influential leadership, and an ongoing appreciation for the Fed's monetary policy support.

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