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Amazon's Pay to Quit Program – Warehouse Employees Face Interesting Yearly Challenge
Posted on July 17, 2014

If you are an employee of an Amazon fulfillment center and you’re not particularly happy with your job, a new program they’ve implemented might just be the solution to your problems – and theirs. It’s called the “Pay to Quit” program, and it’s just what it sounds like. If you don’t like your job, you[...]

Despite Personal Income Consistently Going Up, Spending is Down
Posted on July 8, 2014

During May of this year, the average American's personal income rose by 0.4%. Your first inclination might be to say, "Big deal." However, May marks the fifth month in a row in which there was an increase in personal income. In addition, personal incomes are now rising faster than the rate of inflation. Further hammering[...]

April Surplus Was Great, but What About the Rest of the Year?
Posted on July 2, 2014

The US Treasury department reported some very good news for the month of April. Specifically, they booked a $114 billion surplus for the month, the best May the Treasury Department has had since 2008. This sounds great, right? It is, but April is also the month in which there is an abnormally large influx[...]

Foreign Account Tax Compliance Act Starts July 1
Posted on May 21, 2014

The Foreign Account Tax Compliance Act (FATCA) that was passed in 2010 will begin taking effect on July 1, 2014. Its intention is to make it mandatory for banks across the world to share depositor information with the United States government when it [...]

Bitcoin to be Taxed as Property, not Currency
Posted on May 3, 2014

Just in case you missed this in the news this week, the Internal Revenue Service made a ruling that will have an effect on the future of Bitcoin (and all virtual currency). They ruled Bitcoin to be “property, not currency,” which thereby makes it subject to regulation in the United States. In case you’re not [...]

Zero Interest Credit: Too good to be true?
Posted on April 28, 2014

The old adage is that if it sounds too good to be true, it probably is. Browsing through your mail, you’ve likely come across no interest credit solicitations from various institutions and wondered how they can do that. In the case of zero interest credit, the adage actually doesn’t apply. To understand how they can [...]

PNC Survey: Brighter Days Ahead for Business Owners
Posted on April 23, 2014

The PNC Financial Services Group, Inc. conducts a semi-annual survey of businesses. Since the studies began in 2003, they have gauged the thinking among business owners pertaining to their overall expectations and the way they intend to conduct their business over the next half-year. The April 2014 survey paints a somewhat rosier picture than ones [...]

Is the Asian Infrastructure Investment Bank an Anti-US Dollar Alliance?
Posted on April 14, 2014

What is common between the U.K., France, Germany, Italy and now South Korea? Can't think of an answer? Well, they are all U.S. allies who are accepting China's invitation to become members of the Asian Infrastructure Investment Bank (AIIB). And they are doing this against the advice of the United States. Initiated last October by [...]

Big Bank Stress Tests Provide Positive Results
Posted on April 14, 2014

Each year, the Federal Reserve conducts “stress tests” on banks to gauge their overall health. They want to see if a bank would be able to endure a lengthy, adverse economic scenario while still being able to lend to individuals and businesses. These tests were brought about by the Dodd-Frank Wall Street Reform and Consumer [...]

How do credit bureaus make money?
Posted on April 8, 2014

How do credit bureaus make money? Numerous theories exist. I decided it might be a good idea to take a closer look at some of these theories. One such idea is that the credit bureaus get paid by banks to return data as negative as possible, so banks can have the upper hand with their borrowers. [...]