Why does the Penny Endure? (as reported by Geoff Williams via usnews.com)

On February 4, Canada announced that it would cease to produce Canadian pennies. While this is of little significance in the U.S., it has reinvigorated an old question related to why the penny endures. In 2012, the U.S. produced $49 million in pennies. It cost $118 million. This cost inequality aside, how often do people… Read More

Identity Theft: dangers and prevention (as reported by Sheyna Steiner via bankrate.com)

Despite its recent comedic portrayal in the media, identity theft can prove to be a very problematic and even life threatening situation. In this article, victims’ stories illustrate the multiple problems they face and the difficulties of remedying them. Learn the most common ways people put themselves at risk and the best identity theft prevention tips here. Read More

Research shows 401(k) plans may be ineffective savings tool (reported by Steven Greenhouse via nytimes.com)

While the 401(k) plan has become a prominent feature for many employees, some argue that they remain inadequate as savings vehicles. A report published by The Center for Retirement Research at BostonCollege (found here) highlights a number of these concerns, concluding that the 401(k) may not be a sufficient means to save for retirement, especially… Read More

College students’ financial aid could see 8.2% reduction (as reported by AnnaMaria Andriotis via marketwatch.com)

College-bound students are looking anxiously towards forthcoming letters from universities for the Fall 2013 class. While cost is always a factor in a student’s decision, the question may have recently been complicated by the Federal government’s ongoing budget debate. The automatic spending cuts that were scheduled to enter into effect on January 1, 2013 contained… Read More

U.S. Justice Department sues S&P (as reported by various authors via bloomberg.com)

The Government’s lawsuit against McGraw-Hill’s S&P unit hinges on the argument the banks were unknowing investors and were duped by the rating that S&P placed on their credit products. The government is seeking $5bn and an admission of wrongdoing in connection with what it alleges as deliberately understating the risk of $2.8 trillion in residential… Read More

Individual investor sentiment improving (as reported by Justin Menza via cnbc.com)

Since 2008, the confidence of many investors has been shaken dramatically. The financial crisis, investment bank closures, algorithmic trading errors that swing the market violently, political uncertainty, and a grinding economic recovery have all taken a toll. That said, according to Fred Tomczyk, CEO of TD Ameritrade, individual investors are beginning to come back to… Read More

Is outsourcing losing its appeal? (as reported via cnnmoney.com)

Journalists are beginning to chronicle the return of a number of manufacturing and service jobs to the U.S. from abroad. Companies claim that a number of factors are making it cheaper to do more work locally, as opposed to sending it abroad where advantages in wages may be overcome by other costs. One take on… Read More