The net worth of Congress
In 2010, members of Congress had a collective net worth of at least $2 billion, a 25 percent hike over 2008, and that does not even include home values. The 50 richest lawmakers account for 80 percent of the wealth, and the median net worth is about $513,000.
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Companies resume 401(k) payments
The 401(k) match is making a comeback. A survey of 260 companies that stopped matching 401(k) contributions during the economic downturn found that three quarters have since resumed payments. But 23 percent of them are matching contributions at a lower rate.
Associated Press
Losing money to ‘typosquatter’ websites
The 250 most-trafficked websites miss an estimated $285 million each year in lost sales and other expenses to ‘typosquatter’ sites like Goggle.com and Faecbook.com. Goggle.com alone received nearly 835,000 unique U.S. visitors in September—more than many popular blogs.
Bloomberg Businessweek
Customers flee from new bank fees
Americans opened around 650,000 credit union accounts between Sept. 29—the day Bank of America announced its now-canceled $5 debit fee—and early November, according to the Credit Union National Association. Credit unions took on about 600,000 new customers in all of last year.
Time.com
Among the G-20, U.S. stocks perform well
U.S. stocks have delivered the best performance among G-20 member countries this year, with total returns up 8.1 percent, compared with the United Kingdom (2.2 percent), Canada (0.98 percent) and China (-15.7 percent). But over the past five years, the emerging markets have boomed, with Indonesia (18.8 percent), Brazil (14.8 percent), and China (10.6 percent) leading the pack.
Financial Times
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Israel Defense Forces' manpower problemThe Explainer Israeli military's shortage of up to 12,000 troops results in call-up for tens of thousands of reservists
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Quiz of The Week: 16 – 22 AugustQuiz Have you been paying attention to The Week's news?
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Can Soho House get its edge back?Talking Point The private members' club has lost its exclusive appeal – but a £2 billion buy-out could offer a fresh start
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The bottom linefeature Sedentary habits keep rising; A new home for Twinkies; Taco Bell's new hit; Companies stretch the workweek; Women's wages still fall short
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The bottom line
feature Where to stash your cash; Facebook's tax refund; The value of old phones; The wealth of America's megabanks; Grateful alumni
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The bottom line
feature High cellphone taxes; Companies shore up pension funds; The bite of high gas prices; More dads stay home; Americans' scarce savings; Clorox sales hit a peak
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The bottom line
feature Taxi drivers with college degrees; Morgan Stanley's revealing nicknames; Sleep deprivation and lost productivity; A retreat for Barnes & Noble; Signs of a stabilizing economy
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The bottom line
feature Companies cut spending because of fiscal cliff; Administrative bloat and tuition costs; Market for new and existing homes improves; Annual federal deficit as share of GDP decreases; Federal rules for contracts get flouted
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The bottom line
feature No-growth small businesses; Swift sales for Taylor's new album; Predicting doctors' costs; Airlines face shortfall in qualified pilots; Will Japan slip into recession?
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The bottom line
feature Apple's corporate tax rate; A housing market still in the tank; Boeing's Dreamliner earns rave reviews; Billions owed in child support; Goldman Sachs trims its ranks
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The bottom line
feature No new jobs in August for small business; Lowest corn harvest in 17 years; Louboutin wins battle over red soles; The growing American lower class; U.S.'s competitive ranking drops; The expanding wealth gap