Monthly Archives: May 2020

Bank review, current USBR score and consumer report

J.C. Penney files for bankruptcy and plans to close a number of stores

J.C. Penney, an iconic retailer founded in 1902 in Wyoming, has filed for Chapter 11 bankruptcy protection, slammed by years of dwindling sales, a huge debt burden, and a pandemic that has closed stores for weeks. The department store chain said on Friday it had landed $900 million in debtor-in-possession financing to ensure operations continue while it wields its way…

Reddit offers cryptocurrency: Is this a game changer?

Social news site Reddit announced on Thursday it will let users earn cryptocurrency by contributing content and participating in discussions on the service. Many in the crypto world hailed the news as a major milestone, pointing to the hundreds of millions of Reddit users who could potentially embrace digital currency. The actual impact of Reddit’s move is likely to be…

Drive-in theaters are back. These are the movies you can see, and where you can see them

Close your eyes and picture a drive-in movie theater. Imagine an expansive grassy field lined with cars, each vehicle turned toward a towering screen bathed in projector light. See the couples, families, and solo adventurers munching on snacks and laughing at the antics on-screen. Hear the film’s dialogue warbling through radio sets dialed to the local station. This panorama would…

Surf’s up and so are new beach rules to prevent coronavirus spread

They arrived at the beach by car, skateboard and on bare feet. They carried Frisbees, cameras and surfboards. They wore running shorts, yoga pants and wetsuits. Many wore masks. That was the starkest difference this week apart from a moment in time in March that seems hard to conjure now — before beaches closed and face masks seemed like an…

Congress is ignoring the best solution for troubled companies: bankruptcy

During the COVID-19 pandemic, Congress has moved quickly to get trillions of dollars of emergency relief to consumers, small businesses, and large firms. These efforts aim to rescue millions of American consumers and businesses from insolvency.  It is troubling, though, that the federal government is ignoring the law that already exists for cushioning the blows associated with financial distress: the…

The NYSE trading floor will partially reopen after Memorial Day

The New York Stock Exchange will partially reopen its normally crowded trading floor later this month after closing it in late March due to the coronavirus. Stacey Cunningham, president of the NYSE, said Thursday the trading floor will reopen to a subset of brokers the day after the Memorial Day holiday. The brokers that are allowed to return will have…

COVID-19 is forcing Coach and Kate Spade to pick up the e-commerce pace

By the end of this week, Tapestry, the company that owns Coach, Kate Spade, and Stuart Weitzman, will be welcoming customers back at 300 of its U.S. and Canada stores. But in yet another example of how the coronavirus pandemic looks to permanently shift more retail online, those stores will be open primarily for in-store or curbside retrieval of orders…

‘Frozen’ musical will not come back to Broadway when theaters reopen

The big budget musical “Frozen” will not reopen when Broadway theaters restart, marking the first time an established show has been felled by the coronavirus pandemic. The Disney show opened in March 2018 and placed among the top five Broadway productions for both gross and attendance over both years it ran, often pulling in over $1 million, and even $2…

Privacy groups: TikTok is violating children’s privacy

Privacy watchdogs say that the popular TikTok video app is violating a children’s privacy law and putting kids at risk. A coalition of 20 groups, including Campaign for a Commercial-Free Childhood and the Center for Digital Democracy, filed a complaint Thursday with the Federal Trade Commission saying that TikTok is collecting personal information of kids under 13 without their parents’…

11 Things You Should Know Before You Get Your First Credit Card

A credit card may seem like just another tool to help you make purchases, but it can be much more. When used responsibly, a credit card can help you build

What Is a Balance Transfer, and Should I Consider Doing One?

In a perfect world, no one would carry a balance on their credit card. We would all pay our bills in full each month and never have to worry about

How Is Credit Card Interest Calculated?

So your bank tells you that your credit card has a 15% APR. What does that actually mean? How does your bank calculate your interest rate, and how does that translate into how much you actually pay? …

What Is a Balance Transfer, and Should I Consider Doing One?

In a perfect world, no one would carry a balance on their credit card. We would all pay our bills in full each month and never have to worry about

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