Consumer borrowing dips in February amid economists’ expectations
U.S. consumer credit fell in February by 7.48 billion dollars at an annual rate, down 3.5 percent from January, with economists forecasting a larger decline. Auto and other personal loans rose slightly by 0.23 percent at an annual pace, while credit cards and other credit lines accounted for the drop. Mortgage and real estate debt are not included in the report.
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Borar Alaea
Reuters
Fed
Wall Street pay reforms urged after crisis lessons
Goldman Sachs CEO Lloyd Blankfein calls for overhaul of Wall Street compensation and government oversight of hedge funds to curb risk. He noted compensation of nearly $43 million last year and urged time-based evaluations and cash-heavy junior pay. Apple begins selling select songs at 1.29 dollars as pricing tiers shift from 69 and 99 cents. Shares fall amid market drop.
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Storage auctions boom as economy drives bid frenzy
In Chicago on the West Side a crowd eyes units left unpaid by former renters. Bidders peer inside as auctioneers warn items are often junk or low value. The trend reflects rising storage auctions nationwide with more units sold and buyers taking blind risks.
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Schur
Cable targets addressable ads to boost TV campaigns
Cable operators led by Canoe Ventures plan nationwide addressable ads tied to viewer data. A sample interactive Mustang promo shows a remote click triggering at home information packets, aiming to surpass online ads with full screen impact and higher advertiser charges. Privacy concerns arise over tracking viewing habits.
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Daily Show
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Ohio hospitals plan cuts amid weak economy
More than a third of Ohio hospitals expect layoffs in the next six months due to the weak economy. Rural hospitals face the biggest hit with cuts likely in nursing radiology and outreach programs. The Ohio Hospital Association warns a new hospital fee could raise job losses and reduce services as Gov Strickland defends it to shore up Medicaid for 1.8 million Ohioans.
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