GOOD 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
- Why you should stop believing in evolution
- 4 things NASA can teach you about a good night's sleep
- Why isn't 'Arkansas' pronounced like 'Kansas'?
- Internet piracy isn't killing Hollywood
- It's time for the police to rethink 'shoot-to-kill'
- Is the Christian music industry liberalizing on gay marriage?
- Congress' craven approach toward the war on ISIS
- This 1,600-year-old Viking war game is still awesome
- The secret to handling pressure like astronauts, Navy SEALs, and samurai
- How Israel's hawks intimidated and silenced the last remnants of the anti-war left
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