Hoping For a Raise? How About a Gift Card, Instead?
Many a disgruntled employee has complained of working for peanuts. But is working for lattes any better? Unemployment rates are still high and wages stagnant, but American workers are more productive than ever. That’s good news for the economy, but means that rank-and-file employees are working longer and harder. And what are we getting for all that extra effort in lieu of more pay? In many cases, gift cards. That’s right: About two-thirds of companies give their employees gift cards, says the Incentive Research Foundation, and it’s the biggest and fastest growing category of employee rewards. In an Incentive Research Federation research report published last year, 12% of responding companies said they gave gift cards for quarterly or end-of-year bonuses, and 43% said they gave gift cards as holiday gifts or bonuses. (MORE: Free Lunches at Work? The Tax Man Wants a Bite) Collectively, American companies spent nearly $23 billion on gift cards for employee “incentive and loyalty” ...
Trader pleads guilty in $1 billion Apple stock scheme
Prosecutors say the scheme was designed so Miller would profit if stock price rose, but it fell
Found 1 month ago on channel CBS
JPMorgan CEO: ‘Work to Do’ on Controls, Compliance
NEW YORK — JPMorgan Chase, the country’s biggest bank by assets, says its first-quarter earnings soared, even as revenue fell slightly. The bank made $6.1 billion in the first quarter, after stripping out payments to preferred shareholders. That was up 34 percent from the same period a year ago, when it made $4.6 billion. On a per-share basis, that amounted to $1.59. That blew away the estimates of analysts polled by FactSet, who had been expecting $1.39. Revenue and profit fell in its retail banking business, but increased in investment banking. JPMorgan funded $53 billion in mortgages, a jump of 37 percent from a year ago. But profits in the mortgage unit fell 31 percent, and the bank said profit margins were lower. Revenue was $25.8 billion, after stripping out the effect of an accounting charge. That beat analysts’ estimates of $25.7 billion, though it was down 3 percent from the same period a year ago. In many respects, it’s been a difficult year for the New York-based bank. ...
How ‘Made in the USA’ is Making a Comeback
The U.S. economy continues to struggle, and the weak March jobs report — just 88,000 positions were added — briefly spooked the market. But step back and you’ll see a bright spot, perhaps the best economic news the U.S. has witnessed since the rise of Silicon Valley: Made in the USA is making a comeback. Climbing out of the recession, the U.S. has seen its manufacturing growth outpace that of other advanced nations, with some 500,000 jobs created in the past three years. It marks the first time in more than a decade that the number of factory jobs has gone up instead of down. From ExOne’s 3-D manufacturing plant near Pittsburgh to Dow Chemical’s expanding ethylene and propylene production in Louisiana and Texas, which could create 35,000 jobs, American workers are busy making things that customers around the world want to buy — and defying the narrative of the nation’s supposedly inevitable manufacturing decline. The past several months alone have seen some surprising reversals. ...
Fed minutes: Some officials keen to end stimulus in 2013
Federal Reserve's monthly purchases of about $85 billion in bonds are intended to encourage more borrowing and spending
Found 1 month ago on channel CBS