Skype Gets New Owner

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Microsoft plans to buy Skype for $8.5 billion, making it the largest deal they have ever made.  Microsoft plans on adding Skype to their Windows phones and Xbox systems.  This new purchase will allow people to communicate more easily.  Some are wondering if this purchase was a good idea or a big mistake.  Apparently $8.5 billion is way too much to pay. 

I'm not really sure whether this was a good business move or not.  I think that Skype would be great if they could incorporate it in with businesses and conferencing.  Microsoft has the potential to do great things now that they own Skype.  Hopefully they make a smart move.

Priceline on the Rise

Priceline.com recently reported that its income for the first quarter has nearly doubled.  Priceline specializes in not only hotels, but flights and rental cars as well.  This booking business attributes its recent success to international bookings.  The international revenue reportedly grew by 80 percent.  Priceline is expecting profits to continue raising as more international trips are being booked.

I think this just shows us that businesses are spreading and people from other countries are using the same resources that we are.  It's a little surprising that people are taking more trips, considering the state of the economy.  But that doesn't mean the economy here is the same as the rest of the world.

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Hackers Hit Sony

Hackers broke into the PlayStation Network in early April stealing the information of 77 million users.  The system was shut down for a week on April 19 and users were recently informed that their data could have been stolen.  Credit card lenders may be forking over $300 million worth of replacements if the customers decide to replace their cards.  Customers will be less likely to use a card that their identity was taken from, which might persuade them to switch.

This comes as a shock to me that people can hack into such a big system.  It's probably not going to be good for Sony's business as well as the credit card companies'.  Hopefully everyone doesn't freak out about this and start canceling their credit cards and throwing their PlayStations away!

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Blockbuster=Bust

Blockbuster was recently auctioned off for $321 million after it went bankrupt last year.  The highest bidder was Dish Network, third largest satellite group in the U.S.  Dish plans to expand Blockbuster's internet streaming business and use some of the stores to sell satellite dishes.  They are still unsure what is to become of Blockbuster's DVD rental business.

I figured the rental business was suffering, but I didn't know it was this bad.  It seems like Redboxes are popping up everywhere lately.  I'm also not sure what Dish plans to accomplish by buying Blockbuster.  Satellite TV and DVD rentals are two totally different things in my point of view.  Hopefully we will be hearing more about it in the future.

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Amazon's Latest

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Amazon made a comeback Tuesday by launching the Amazon Cloud Drive.  This is an internet service that allows people to store their files on the company's servers and access them from their computers or smart phones.  People are also enticed to sign up by receiving 5GB of free storage.  Amazon was one step ahead Apple and Google with this new technology.  Both companies have been waiting on record companies to get on board with licensing agreements while Amazon just skipped all the legal aspects and took a chance.

I think Amazon is making a bold move.  They are risking legal trouble, but at the same time, they beat Apple and Google to the punch.  Amazon deserves some publicity and I'm sure this will be a huge advantage to the company. 

Postal Workers Lose Jobs

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The United States Postal Service is planning on cutting about 7,500 employees and 2,000 post offices within the next year.  With the recent technology wave, people are now paying their bills online and using e-mail and text messaging to communicate, which has made a huge impact on the postal service.  By cutting these jobs and closing these post offices, the USPS hopes to save about $750 million each year.  Another strategy they are considering to save money is cutting back to five-day deliveries instead of six.  People are concerned that this might be hard on those in rural areas. 

With the economy the way it is, everyone is making cut-backs.  Combining post offices and eliminating employees will help save money but may take a toll on the communities.  I'm sure they don't want to have to fire people, but you have to do what you have to do.  They have been losing money in many of their post offices.  It's definitely time for a change.

Gas Prices Rising

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Gas prices have risen $0.38 in the past 3 weeks and Iowans are refusing to let it stop them.  Most people are still carrying on with their normal routines and not letting the rising prices hinder their traveling.  College students are still going on spring break and retirees are still traveling.

The average price nation-wide is about $3.50 right now.  This is still far below 2008's record high of $4.07.  They are expecting prices to continue rising because the peak driving season is April through September. 

I agree with the man interviewed in the article that said we should drill here in the United States instead of relying on the Middle East.  Why not use the resources if we have them?  I don't know if this is true but I hear that gas prices will continue to rise because there isn't enough corn for ethanol.  It sounds like people are going to have to start cutting spending once again.  An electric car is sounding pretty good right about now!

A New Self-Esteem Boost

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A new study shows that checking your Facebook page will boost your self-esteem.  They suggest that our Facebook profile is a "positive version of ourselves."  We choose what we put on our profiles (usually positive statuses/pictures), which is why looking at them makes us feel better.  Most people think that the internet is all negative, but it looks like there is at least one benefit of Facebooking.

I can understand how looking at your profile would boost your self-esteem.  Seeing how many friends you have, who likes your status, or who wrote on your wall makes us feel important.  I also think this is borderline narcissistic.  If you need something to boost your self-esteem, go get your hair done or buy a new outfit.  Facebook stalking yourself is just weird. 

Goodbye Wallets!

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With this latest technology, there will be no need to carry wallets anymore.  With Visa PayWave, you can pay for things with your iPhone or cell phone.  How does this work?  First you'll need to go to your bank and obtain a memory card which can be put into the SD slot of your phone or inside a special plastic skin for the iPhone.  Just open up the PayWave app, hold it up to the scanner that accepts mobile payments, and you're on your way!

The biggest concern with this new method is security.  What happens if you lose your phone?  As I read further, Visa claimed that it is more secure than carrying a credit card.  Camera's can't capture your card number and PayWave monitors suspicious spending in real time, unlike banks, which don't monitor transactions 24-7.  As far as losing your phone, you need a password to open the PayWave app, which makes it harder for another person to use.

I really doubted the product when I first started reading the article.  My first thought was, 'What if someone loses their phone?'  They have a very secure network, according to the article, which would make it harder for someone to use it.  If someone takes your credit card, there's not much you can do besides cancel the account.  If the person manages to get your PayWave password, your account can still be frozen to stop them.

As far as getting rid of the wallets, I don't think that's going to happen anytime soon.  People will still want to carry cash, checks, etc.  If we do end up switching to this payment method, everyone will have to have a smart phone.  What happens when you eat at a fancy restaurant and it comes time to pay the bill?  I wouldn't want my waiter taking my phone/credit card and looking through my personal things!

Abercrombie & Fitch Looking Up

The popular clothing company, Abercrombie & Fitch, reported that their profits doubled in the 4th quarter.  Business in the U.S. as well as overseas has been booming.  They reported a net income of $92.6 million, which is a big step from last year's $47.5 million.  More stores have been popping up in Spain, Germany, UK, and many other countries, contributing to the economic status of Abercrombie & Fitch.

I was actually surprised when I saw this article.  I feel that people have moved on from Abercrombie & Fitch.  It seems like it's just one of those things that are "out".  The article stated that people in the U.S. are more reluctant to go back to their old spending habits because of the recession.  I'm guessing that Abercrombie is one of those stores that started out in the U.S. and is now making its way to other countries, making it something hip and new for them and 'out of style' for us.

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Amnesty For Tax Evaders

People with offshore accounts now have the option to come clean.  Wealthy Americans usually try to avoid paying taxes on their riches by keeping their money in offshore accounts.  U.S. authorities are offering reduced penalties if they come clean.  They would now face a 25% penalty instead of the 50% they would have to pay if they got caught.

I think this is a good method to find some of these hidden accounts.  Granted, not all are going to come clean, but they will get a good number of them.  This will make the IRS's job a little easier.  It doesn't make a lot of sense to me why someone would come forward though, offering to lower the fines of having an offshore account when the whole purpose of having the account is to avoid paying money.  They must be cracking down on their investigations recently.
http://news.yahoo.com/s/nm/20110208/bs_nm/us_usa_taxes_amnesty

Keeping it Local

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An Arizona family of four is going to shop at local businesses only for one whole year.  The Levitch family decided to make this change because mom, Julie, is an entrepreneur and dad, Randy, manages small business owners for OPEN American Express.  They want to keep their money within the area and help out the local economy.  Both Julie and Randy grew up in large cities and wondered why there weren't more small businesses.  Now they know why.

I think this is a huge step for a family to make.  They want to help out the local economy, but it is going to be very tough to only buy local.  I can't imagine not going to Sioux City when I need clothes or something that I can't get at Wal-mart.  I don't think I would be able to do it.

New Method of Investigation: Facebook

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Recently there have been U.S. court cases which have been involving the popular social networking site, Facebook.  Lawyers are now getting permission to check out private Facebook pages for photos, posts, and/or comments relating to their case.  Before now, this information was only visible to 'friends' of the person under investigation.  Now judges are allowing access to their profiles if they think it's necessary.  Some of the information found on profiles have made a huge different in these cases, mostly lawsuits where the individual is suing.

I think this is a great method of investigation.  Sure it's your private profile, but if you aren't doing anything wrong then there's nothing to hide.  The article stated that one lady was suing a chair company because the chair was defective.  After a look into her Facebook profile, they found out that she wasn't bedridden as she had claimed to be.  I think most people are totally honest with their statuses, which is why the government should have a right to look at your profile when they need more evidence.

The Secret to Zappos' Success

Zappos is a recently popular online shoe retailer that hasn't been around for much more than a decade.  The chief executive, Tony Hsieh, operates his business in a very different manner, hiring a life coach for the employees and buying them all Kindles in 2009.  Hsieh wrote a book about his success entitled Delivering Happiness: A Path to Profits, Passion, and Purpose.  The most important thing to Zappos is customer service, especially when most companies are downsizing.  Making the customer happy is what gets them to tell their friends and relatives about Zappos, says Hsieh.

I think the chief executive really knows how to run a successful business.  Customer service is the key.  A happy customer will always come back for me.  If I don't like the service at a restaurant or the employees are rude at a store, I'm less likely to go back.  I think it would be fun to work at a company like Zappos where the executives and managers treat you nicely and make your job fun.

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