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
- How my boyfriend and I learned to live on one income
- He said he was leaving. She ignored him.
- Affirmative action is doomed. Here's what progressives should do about it.
- Why the poor's investment of choice is so alarming
- 31 TV shows to watch in 2014
- Why conservatives see rural America as the 'real' America
- Why atheism doesn't have the upper hand over religion
- Why China's Communist Party is headed for collapse
- Why Texas Republicans may want to cool the anti-Obama land-grab talk
- How to make perfect fried rice in 6 easy steps
Subscribe to the Week