The cost of staying wired
The average American family will spend nearly $1,000 this year on cable television, Internet connectivity, and video games, up from about $770 in 2004. When annual cell phone charges of $1,000 or so are added in, the average family now spends as much each year to stay wired as it does on gasoline.
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Credit card use drops
America’s love affair with credit cards may be waning. Not only did credit card debt fall sharply last year, but the number of newly opened credit card accounts fell 46 percent in 2009 from the year before.
USA Today
Time Inc.'s golden goose
Sports Illustrated’s annual swimsuit issue, due out this week, has generated an estimated $1 billion for its parent, Time Inc., since the issue’s inception, in 1964. Last year, the online video version drew more than 46 million views.
Marketwatch.com
Mortgage Bankers Association takes a loss
The Mortgage Bankers Association has struck a deal to sell its Washington, D.C., headquarters for $41 million—well below the $79 million it borrowed to buy the building in 2007.
The Wall Street Journal
M.B.A.’s head for health care
Business students are deserting Wall Street for health care. Ten percent of the class of 2009 at Duke University’s Fuqua School have taken health-care-related jobs, up from 3 percent in 2007. At Indiana’s Kelley School, the percentage of M.B.A.’s taking health-care jobs doubled from 8 percent to 16 percent between 2007 and 2009.
BusinessWeek
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Dash: the UK's 'flawed' domestic violence toolThe Explainer Risk-assessment checklist relied on by police and social services deemed unfit for frontline use
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China is silently expanding its influence in American citiesUnder the Radar New York City and San Francisco, among others, have reportedly been targeted
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The bottom line
feature Ponzi scheme billionaire sentenced; Health insurance in the food industry; Foreign purchase of U.S. homes rises; Housing's slow recovery continues; The cost of raising a child
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The bottom line
feature Long-term Treasury bonds versus the S&P 500; Dodd-Frank's deadlines; Netflix loses 800,000 subscribers; The astronomical cost of health care; Turkey's credit card debt
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The bottom line
feature Traffic accidents fall during BlackBerry outage; The largest landowner in America; America's fondness for wireless devices; Price of peanut butter to soar; The midwest's healthy credit scores
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The bottom line
feature To come for Fannie and Freddie: $389 billion; Number of millionaires rises; Jets nix offer from adultery-oriented website; No taxes for heirs of billionaire; Health-care costs in 2011
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The bottom line
feature Health-care industry lobbies Congress over reform; Tonight Show sheds older viewers; Manhattan housing prices fall nearly 20 percent; 52 banks have failed since January; Wall Street to trade California IOUs