OOD DAY FOR: Learning from AIG, after Amsterdam-based financial giant ING, the recipient of a Dutch bailout, asked 1,200 employees to return their bonuses from last year. Other European banks, including UBS and Societe Generale, are also asking executives to return some of last year’s compensation. (Bloomberg)
BAD DAY FOR: Conspicuous consumption, after a new study from consultants Retail Forward and PricewaterhouseCoopers suggests that U.S. consumers will continue with their newfound frugality even after the economy picks up. “The habits learned during this economic crisis have the potential to permanently alter the mind-set of consumers,” the report said. (Reuters) Separately, luxury jeweler Tiffany reported a 75 percent drop in quarterly profit, to $31.1 million. (AP in Yahoo! Finance)
THE WEEK'S AUDIOPHILE PODCASTS: LISTEN SMARTER
- Colorado’s new ‘drive high, get a DUI’ commercials are actually pretty clever
- Here's proof that Justin Bieber is just as spoiled as you always thought
- Why is American internet so slow?
- 7 ways to be the most interesting person in any room
- Ukraine's fraught relationship with Russia: A brief history
- What the collapse of the Ming Dynasty can tell us about American decline
- The GOP must try to win over African-Americans
- 10 things you need to know today: March 10, 2014
- What would a U.S.-Russia war look like?
- Sandy Hook shooter Adam Lanza's dad: 'I wish he'd never been born'
Subscribe to the Week