Reusing your hotel towels: sensible behavior or scam?
Jill Hunter Pellettieri writes in Slate.com about how she hates those notices you now find in all the hotels asking you to re-use your towels in order to "Save Our Planet." Like her, I find them to be disingenuous. The real beneficiaries are the hotels, not the environment, because the hotels save lots of money on laundry costs, and they don't bother to pass those cost-savings along to the customers. [
slate.com]
Posted By: Alex | Date:
Tue Apr 07, 2009 |
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Category:
Business/Finance,
Scams
Worst April Fools?
An online brokerage, Zecco, pretended to give customers multi-million trading accounts on April 1st. Funny until customers began doing actual trades with the money. Lots of blogs were linking to this story, calling it the
worst April Fool's ever. (I'm not sure about that. It's still not as bad as some on the
official list.) But now the company is saying it was an
accident, not a purposeful prank.
Posted By: Alex | Date:
Mon Apr 06, 2009 |
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Category:
April Fools Day,
Business/Finance
The AIG Bonuses
Status: Dubious corporate and political arguments
In response to the uproar over the millions of dollars in bonuses paid to the executives of AIG (you know, that company that would be bankrupt if not for the billions of dollars in loans it's taken from the US government), AIG management explains that it had no choice but to pay those bonuses because it was contractually obligated to do so. The Treasury Department, despite wagging its finger sternly at AIG, appears to accept that argument.
On salon.com Glenn Greenwald details
why AIG's argument is transparently bogus. Contracts get renegotiated all the time when companies are in financial jeopardy. So what makes these contracts untouchable?
The truth must be that it's either a) a case of blatant cronyism, or b) the executives have some leverage that would make it more painful NOT to pay them than to pay them. (The latter argument is detailed
here.)
What confuses me is the use of this word "bonus". Evidently these guys expect this money regardless of their own job performance or of how well the company does. In which case, shouldn't the payment be called "guaranteed compensation" or something similar? Calling it a bonus makes it seem analogous to the tip a waiter receives for good service.
Posted By: Alex | Date:
Mon Mar 16, 2009 |
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Comments (10)
Category:
Business/Finance
Forbes not being sold to the Russians
Status: Rumor
The business magazine Forbes
"absolutely denies" a rumor that it's being bought by a Russian private equity firm, Onexim.
The irony here is that it was Forbes, back in 1991, which
published a hoax claiming that the Russian government, desperate for foreign currency, was selling the embalmed body of Vladimir Lenin to the highest bidder.
Times and fortunes have changed. It appears now the shoe is on the other foot.
Posted By: Alex | Date:
Wed Nov 26, 2008 |
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Category:
Business/Finance
Rumormongering Traders
Status: Psychology
Britain's Financial Services Authority has found a new group to blame for the financial crisis:
naive traders spreading rumors. It cites one example of a trader who
"spread a piece of 'hot news' to 10 to 12 of his friends over a messaging system without making clear that it was a rumour. One of his contacts then did not hesitate to spread the message on to 150 of his contacts."
To counter the problem, the FSA is urging companies to adopt policies "on how to deal with rumours and monitoring chat sessions, phone calls and emails from traders."
Good thing it's tackling this problem. And once it's succeeded in making the stockmarket perfectly sane and rational, perhaps it would consider cleaning up the internet as well.
Posted By: Alex | Date:
Wed Nov 19, 2008 |
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Comments (2)
Category:
Business/Finance,
Psychology
Is Bank of America cancelling the majority of its customers’ credit cards?
Status: False
This rumor is going around:
BoA to close credit cards for approximately 60% of customers?
"I work in Credit Department at BoA (Senior Level Credit Analysist Boa Bldg 3rd fl, Char, NC). We just received memo indicating that all BoA credit cards are being closed as of 10/1. Credit score and income do not matter, all accounts are closed as of 10/1." Executive VP Bank of America
"This is true, but not as bad as he/she says. We are closing accounts, but only ones with credit scores under 750. We will reopen cards within a year as long as crisis lessens." - J.mcmanus / VP Credit Dept BOA
The news is sourced to
iReport.com. If true, it would be another sign of the deepening financial crisis on Wall Street, but Bank of America doesn't have any info about this on their
website, so my guess is that the rumor is false.
Posted By: Alex | Date:
Mon Sep 29, 2008 |
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Comments (24)
Category:
Business/Finance
Weird Fragrances
Status: Suspicious

I stumbled across this site, weirdfragrances.com (I'm not linking directly to them, so I won't boost their google rank), that promises to send you a free sample of cologne. In return you simply provide them with your email and mailing address, and promise to later answer a few questions about the fragrance. You can choose from a variety of offbeat scents such as Grease Monkey, Burning Rubber, or Ash Tray.
Is it a legit offer? I would guess not.
First, it strikes me as odd that the site is registered anonymously through domains by proxy. Why would a legitimate company be trying to hide their identity?
Second, a quick google search reveals people
posting on forums about how they submitted their info but never received anything except spam. So it appears to be a spam trap.
Posted By: Alex | Date:
Tue Sep 23, 2008 |
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Comments (2)
Category:
Business/Finance,
Websites
It’s Right-Sizing, not Down-Sizing
Status: corporate b.s.
Media Agency Carat recently decided to lay off some of its employees. PowerPoint and Word documents somehow leaked out detailing how management planned to inform employees and clients of the decision. They offer an example of corporate b.s. at its finest. Details include:
• The agency wasn't going to be down-sizing. Instead, the documents repeatedly described the moves as a "right-sizing" of the agency.
• Clients were to be informed of the "staffing change" with this script: "Mary Smith will be moving off your business. Now that we understand your business better, we are replacing her with someone whom we feel will be a better partner for you."
• The remaining "critical talent," who might understandably be "questioning if this is the right place for them to build their careers" were to be reassured with this script, "The actions we had to take, although unfortunate, were necessary to right-size the company and ... bring in the skill sets we need to effectively service our business and future client needs."
Full details at
AdAge.
Posted By: Alex | Date:
Thu Sep 11, 2008 |
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Comments (11)
Category:
Business/Finance,
Literature/Language
Thieves Steal Fake Money
Status: Weird news
Thieves used a hammer to break open a plexiglass box being used as a Drop-A-Note donation box in the Kentucky Theatre's lobby, and they stole the money inside. Unfortunately for the thieves, the money they took was fake. From
kentucky.com:
"It's sad when idiots can't tell fake money from the real thing," said Steve Brown, president of Kentucky's Mighty Wurlitzer Theatre Organ Project, a group dedicated to restoring a Wurlitzer organ and returning it to the Kentucky. Proceeds from the Drop-A-Note box, which is three wood organ pipes with a space for donations in the middle pipe, go to the restoration project. The fake bills looked similar to real ones, but they didn't have serial numbers and were black and white, Brown said. The thieves, who struck early June 2, made off with little or no money because the box had been emptied that weekend.
The thieves were probably former convenience store clerks, fired for accepting too many George Bush and Santa Claus bills.
Posted By: Alex | Date:
Sun Jun 22, 2008 |
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Comments (1)
Category:
Business/Finance,
Law/Police/Crime
Santa Claus Currency
Status: Scam
The
Daily Record reports on a stupid counterfeit scheme that almost worked:
A FORGER convinced a cashier a £20 note was real - despite Santa Claus and his reindeer being on it. Stacey Rice's self-made Santa Christmas Bank note promised to pay the bearer nothing and listed Santa as the bank's "chief operating officer" with his address as the North Pole. But Rice, 27, was still able to pass it off as genuine in an "astonishing" scam, a court heard. She duped a gullible cashier at a gym and the woman gave Rice change of the £20 in smaller denominations.
It reminds me of the
phony $200 George Bush bills that people often try to pass off. Here's a question to ponder: Is it dumber to accept a bill with George Bush on it, or Santa Claus?
Posted By: Alex | Date:
Tue Jun 17, 2008 |
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Comments (7)
Category:
Business/Finance,
Scams