follow the money
Posted by Matthew Moore on October 12, 2011 05:01 PM
While some companies are embracing the ‘Occupy’ demonstrations popping up across the United States, others like Bank of America have made the decision to ignore the impact that these demonstrations can have on consumer sentiment.
Less than two weeks after ‘Occupy Wall Street’ demonstrations began in downtown New York, executives at Bank of America thought it a good time to roll out a new $5 monthly charge to its customers making check card purchases in a given month. Two other large banks, JP Morgan and Wells Fargo, are also reported to be considering similar fees.
Bank of America is now taking heat (including being spoofed on Ellen) for its recent fee introduction from both legislators and the media. Senator Dick Durbin, D-Ill. urged customers to take their money to different banks. A Fox Business Network anchor went further and made headlines when she cut up a Bank of America debit card on air.
Consumer watchdogs will argue that the fee is not fair and that the government needs to protect consumers; however, the damage for Bank of America has already been done thanks to all of the negative press its announcement has received. Recent reports of sluggish performance on the bank’s website over the past few week have even been attributed to the bank’s fee announcement.Continue reading...
Posted by Dale Buss on September 22, 2011 09:01 AM
Apple will introduce new iPhones next month, board member Al Gore confirms.
Bank of America, Citigroup and Wells Fargo are hit by ratings downgrades by Moody's.
Bill Gates tops 2011 Forbes 400 wealth ranker.
Facebook is introducing a 'listen with your friends' music app but faces challenges in digital entertainment.
Full Tilt Poker fires back at Justice Department.
Hulu invests in content even as it's for sale.
Netflix teams with Discovery for two-year deal.
News Corp. nixes a "Simpsons" channel but has big hopes for FX.Continue reading...
Posted by Shirley Brady on September 19, 2011 06:34 PM
Apple "iPhone 5 in October" rumors heat up and cases appear, while Samsung sues to pre-emptively block the device in Korea.
Netflix's Qwikster spin-off proves a turn-off to observers, subscribers and Wall Street.
Tyson Foods releases social campaign for Feeding America, and settles 12-year legal battle with employees with $32M settlement.
AT&T faces tough battle with seven states backing DoJ suit.
Facebook and Time Warner's CNN and Cartoon Network team up on anti-bullying pledge app.
Jarritos Mexican soda appeals to non-Hispanic young men with new campaign.
Kenshoo expands relationship with Omnicom's Annalect.
Lego enhances augmented reality packaging.Continue reading...
Posted by Dale Buss on August 16, 2011 05:59 PM
Angry Birds maker and others look at Google gaming potential as Google hopes to keep growing like a startup, CFO says.
Berkshire Hathaway increases stake in Wells Fargo.
Ford wins out in new U.S. vehicle-satisfaction survey.
Honda faces difficult month as shortages persist.
HTC files trade complaint over Apple technology in iPads and iPhones.
News Corp. editors said to know of hacking in 2007.Continue reading...
Posted by Dale Buss on August 5, 2011 08:55 AM
Global markets swoon after yesterday’s disaster on Wall Street.
Borden steps out with “Friends of Elsie” campaign.
Comcast and DirecTV engage in legal battle over advertising about NFL broadcasts.
Discovery Communications continues with upbeat reports.
Dodge leverages NASCAR to tout new Durango.
Dunkin’ Brands to boost prices to cover commodity-cost increases.Continue reading...
Posted by Shirley Brady on July 20, 2011 06:00 PM
British PM David Cameron tells Parliament that he now regrets hiring former News of the World editor Andy Coulson as News Corp. faces US calls for Dow Jones inquiry over phone hacking and London police say their investigation could take years. Wendi Murdoch fever also explodes on the web as her husband's media empire attempts to restore reputation.
American Express reports record cardholder spending.
American Idol co-creator Simon Fuller is suing Simon Cowell for a cut of The X Factor on FOX.
Associated Press will link to sources starting Aug. 1st.
Coach signs Gwyneth Paltrow for UK launch campaign.
Google offers credit card to advertisers, winds down Google Labs, launches Google+ iPhone app.
Intel quarterly results beats analysts' expectations.Continue reading...
Posted by Shirley Brady on July 11, 2011 06:00 PM
Apple goes after HTC and Android phones with ITC complaint, while iTunes may test 1080p movies.
Citi, Wells Fargo and Visa are adding Groupon-like in-network deals.
EA acquires social gaming firm Ohai.
Google acquires Punchd, a digital loyalty startup.
Lady Gaga plans to intern for royal hatmaker Philip Treacy.
Microsoft is phasing out Windows XP.
NCR buys Radiant Systems for $1.2 billion.
Nortel patent sale cleared for Apple/Microsoft/RIM consortium.
Quiznos hires financial advisers for restructuring.
Posted by Barry Silverstein on May 27, 2011 01:00 PM
Banks are keeping up with technology through their use of ATMs and, increasingly, by offering online and mobile banking — even partnering with the world's search engine giant to advance mobile commerce, as Citi is doing with Google Wallet.
But when it comes to social media and digital channels in general, "retail banking has largely remained on the sidelines," according to Johannes Bussmann, Paul Hye, and Jorg Sandrock, three principals with the global consulting firm Booz & Company, authors of a new report, Banking on Social Media.
They argue that banks "need to reach out to younger, more Web-savvy customers... devising new products and services that are simpler and more transparent, and using the power of social networking and other digital platforms to improve their marketing."Continue reading...