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Starbucks Does Not Owe Its Baristas $105 Million — For Now
More than a year after a California court ordered Starbucks to pay its baristas $105 million in back tips, the 4th District Court of Appeal has reversed the ruling. It all started when former barista Jou Chau filed a class-action lawsuit on behalf of the 100,000 current and former baristas in the state of California, arguing that Starbucks was acting unlawfully by permitting shift supervisors to share tips.
The appeals court concluded that Starbucks supervisors should receive their fair share of tips because they "essentially perform the same job as baristas."
News Flash: Questionable Charges on US Credit Cards
Have you ever heard of a NY based company called Adele Services? No? That's because it doesn't exist, but credit card holders across the country became familiar with the phantom company when it recently appeared on their statements.
Mortgage Aid Program to Bring Hope for Homeowners
Much of the banking drama from the last few weeks can be traced back to bad mortgage bets, making us wish that homeowners were never approved for loans they never could have afforded. Yesterday, a government drafted mortgage aid program launched into action that aims to contain the mortgage crisis from causing more trouble. The $300 billion, three-year initiative aims to allow about 400,000 homeowners to exchange their existing mortgages for more affordable ones, therefore staving off potential foreclosures.
News Flash: Money Honeys, Testosterone, and the FDIC
- "Money Honey" Maria Bartiromo and "Street Sweetie" Erin Burnett are profiled in a compelling piece describing their impact on business news and the journey to the top of their field. — Vanity Fair
- The FDIC has asked Congress for permission to raise the limit on the amount of money it insures for individual bank accounts from $100,000. They believe an increase could hold off customers from running bank deposits.
News Flash: Credit Card Reform Bill Gets Nod From the House
- The House passed a bill that would limit surprise interest-rate increases and fees for credit-card users, but it still faces Senate approval and won't be reviewed until the bailout plan has been finalized. — Reuters
- Is your head spinning from all of the recent economic news? Here are 15 things you should know about what's gone down.
News Flash: Money Is on Everybody's Mind
- Forbes released its 27th list of the Forbes 400 ranking the 400 richest Americans — you'll need at least $1.3 billion to join this club. Of course, Bill Gates made the list. — Forbes
- Networking in a time of need: University of Chicago's Graduate School of Business called its alumni that were Lehman employees just one day after the bank filed for bankruptcy.
News Flash: Small Companies Hiring While Big Ones Are Firing
From a hiring standpoint, small companies are exhibiting more stability compared to larger ones and you may consider pursuing positions at these less sizable businesses if you're looking for a job any time soon. In August, unemployment reached its highest point in five years and more large companies instituted hiring freezes.
Small companies aren't exactly ramping up their recruitment efforts as hiring has remained flat, but it's a more hopeful job market compared to some large companies showing signs of contraction in their workforces.
News Flash: Make a Late Payment, Get a Call From the Bank
Looking for a job? According to The Wall Street Journal, many major banks in the US are bulking up their collections departments' personnel and emphasizing their efforts to contact late payers more immediately than before. If you go on vacation and forget to pay your credit card bill on time, you may return home to not only a late fee but a message from the bank issuer.
News Flash: Workers Are Warming Up to Female Bosses
- Women were given higher scores than men in five of eight categories in a recent survey rating men and women on various leadership traits. — ABC News
- If you log in a lot of driving miles you may consider a gas rewards card to save money, but do your homework before choosing a card. — CNN
- Back-to-school shopping was kind to Wal-Mart this year.
News Flash: Southwest Airlines Is Not Invincible
Yes, it's true, America's friendliest airline is reporting it is not as financially sound as previously stated. Southwest has announced it will cut 200 flights in 2009, representing about six percent of its regular daily flight schedule. The reduced schedule won't stop the airline from flying out of the 60 airports it currently uses, but the cuts will reduce frequency of flights on most routes.
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