Darroll

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Former employees: Bank of America regularly lied to homeowners | Salon.com

Six of the former employees worked for the bank, while one worked for a contractor. They range from former managers to front-line employees, and all dealt with homeowners seeking to avoid foreclosure through the government’s program.<p>When the Obama administration launched HAMP in 2009, Bank of …

12 New Companies That Will Make Going To College Unnecessary

People have started to realize that putting in four years and racking up tens or hundreds of thousands of dollars in debt only to find yourself out of a job (or working as a barista at Starbucks) is a raw deal.<p>Some entrepreneurs and academics have decided to do something about it. They're looking …

Khan Academy

Facebook Reaches Agreement With Feds to Allow Data Request Disclosures

After intense discussions and at the urging of Facebook, Google and other Silicon Valley giants, the U.S. Government will allow Facebook and other …

Surveillance

Kickstarter almost enabled a $120,000 fraud, and it’s not the first

Kickstarter<p>Kickstarter just narrowly averted what would have been the biggest definitive fraud in the crowdfunding site’s history. It shut down the Kobe Red project, which promised to deliver mouthwatering beef jerky made from Japanese cows fed on 100% organic feed and treated to beer and massages …

Crowd Funding

How a restaurant with no cash registers and no prices makes money

A Panera Cares Café looks just like any one of the other 1,600 Panera locations around the United States: the same striped awnings, the same comfortable booths, the same ridiculously tasty Cobblestone Rolls that will add 10 pounds if you so much as look at them.<p>But look closer and you’ll notice …

Customers

IMF Says Sequester Hurting U.S. Economy, Delaying Recovery

As much as half of U.S. economic growth this year has been slashed due to tax increases and indiscriminate federal spending cuts known as sequestration, according to a sobering new forecast by the International Monetary Fund, which urged lawmakers to repeal the cuts.<p>Risks to U.S. growth are …

A star-spangled recovery: Why the U.S. economy is showing signs of life

It's not quite the recovery that anyone wanted, but it's a recovery all the same.<p>The world's largest economy is still rumbling along in third gear. Unemployment remains too high for comfort; there are nearly 12 million Americans out of work. On Friday, the International Monetary Fund trimmed its …

Thanks, EU, but Iceland isn’t so keen on joining any more

Iceland is rethinking its desire to become a member of the European Union, putting talks with the European bloc on hold for the time being. Although it had completed about a third of the accession negotiations, polls indicate the Icelandic people don’t want their country to become part of the EU.<p>In …

It’s Good for Microsoft, but Are New Windows Stores a Smart Bet for Best Buy?

When Microsoft and Best Buy this week announced the forthcoming launch of 600 Windows Stores within its retail locations, much of the initial …

Best Buy

'Insolvent' Detroit to default on some of $18.5bn debt, says emergency manager

The "insolvent" city of Detroit will default on some of its $18.5bn debt and has asked creditors to accept a fraction of money owed to them, in an …

Can The World Afford Higher Interest Rates?

That’s the end of QE tapering talk then? Not quite, but it should die down somewhat, given U.S. Fed Reserve conduit Jon Hilsenrath’s latest kiss-and-tell article in <i>The</i> <i>Wall Street Journal</i>. Thankfully, it might also stop all the blather about the U.S. and global economies recovering (they’re not) and …

Like father, like son: Approaching life like an entrepreneur

<i>Tarun Wadhwa is an aspiring entrepreneur and the son of serial entrepreneur Vivek Wadhwa.</i><p>My dream was always to become a lawyer. I used to believe that law was the most direct way to impact the world around me. I thought entrepreneurs were only concerned with small issues, while lawyers worked on …

Sony PlayStation 4 Launch Edition Already Sold Out At Amazon

Gamers are speaking with their wallets following E3 2013, a show that was dominated by Sony PlayStation 4 in the next gen battle. Amazon has already sold out of the $400 PlayStation 4 launch edition of the next gen console, which will be available on day one of Sony’s launch. Sony is still selling …

The Secret Science Behind Big Data And Word Of Mouth

<b>Editor’s note:</b> <i>Jonah Berger is a marketing professor at the Wharton School and author of the New York Times bestseller Contagious: Why Things Catch On. Follow him on Twitter @j1berger.</i><p>Why do some companies, products and services get more word of mouth than others? It’s not luck. There’s a science …

Restaurants Should Charge Customers For Breaking Reservations

Why do consumers find it so easy to break their commitment to dine in a particular establishment at a particular time? According to Wharton PhD student Jaelynn Oh, it all comes down to perceived value. When someone makes a reservation, as far as the restaurant is concerned, the meal or meals have …

A Good Dad Is Worth $23,344

Insure.com crunched the numbers associated with the tasks involved in daddy-duty, and came up with a figure of $23,344 a year.<p>Bloomberg explains that the annual index uses Bureau of Labor Statistics wages to figure out how much all that barbecuing, driving, soccer coaching, and spider killing add …

Spiders

10 Ways to Avoid Making A Huge Hiring Mistake

Entrepreneur Vanessa Merit Nornberg knows the incredible importance of strong salespeople.<p>The founder of New York-based Metal Mafia, a wholesale line of body jewelry, sells over the phone 7,000 products like eyebrow and belly rings that cost just 2 cents to $2.<p>But how your employees sell--and how …

Employment

The 10 Cheapest Cities In The World

When I was in Nicaragua in 2011, I had a friend who was renting a room with her boyfriend in Managua.<p>They each paid $25 per month for rent. The bus ride to their job cost 10 American cents.<p>Point being: There are places in the world where your dollar can go a very long way.<p>This is important. If …

Black Sea

Try It Now

Rise in gasoline price expected to spur inflation hike

The temperature wasn't the only thing on the rise last month. The price of gasoline, which tumbled in April, crept back up in May, likely pulling inflation with it.<p>Statistics Canada is widely expected to report a rise in the annual inflation rate last month of 0.9 to 1 per cent when it releases …

Try It Now

Analysts Admit They Were Hopelessly Optimistic About Samsung

Samsung's huge share of the high-end smartphone market also persuaded some analysts to downplay industry data pointing to a fast-saturating segment, a reality that is already eating into sales of Apple Inc's iPhone 5.<p>Woori Investment & Securities, one of South Korea's largest securities firms, cut …

Markets

The Assets Investors Think Will Deliver Most

Sixty eight percent of respondents to the Schroders survey, released in May, said they were investing more into equities this year. Despite slower growth, and countries like Brazil seeing their GDP forecasts revised downward from 3.5% to just 2.5% recently, investors are more bullish this year than …

San Francisco, not Silicon Valley, is the hub for US venture capital

Venture capitalists are the financiers of high-tech innovation. The unique form of equity financing—which exchanges capital for shares in the enterprises they provide—has fueled the rise of revolutionary companies like Intel in semiconductors, Apple in personal computing, Genentech in biotech, …

Venture Capital

Bank Of America Allegedly Gave Cash Bonuses To Workers Pushing Homeowners Into Foreclosure

Bank of America routinely denied qualified borrowers a chance to modify their loans to more affordable terms and paid cash bonuses to bank staffers for pushing homeowners into foreclosure, according to affidavits filed last week in a Massachusetts lawsuit.<p>"We were told to lie to customers," said …

Finance