by Paul Wiseman WASHINGTON (AP) — The nation’s economy grew at an unexpectedly brisk 3.3% annual pace from October through December as Americans showed a continued willingness to spend freely despite high interest rates and price levels that have frustrated many households. Thursday’s report from the Commerce Department said the gross domestic product — the economy’s totalContinue reading “US economy grew at a surprisingly strong 3.3% pace last quarter, pointing to continued resilience”
Tag Archives: #financial
Money dysmorphia’ could be keeping you from building wealth, expert says
by Ryan Ermey In the world of mental health, “dysmorphia” describes an obsessive focus on perceived defects in one’s body. People with body dysmorphic disorder may find themselves constantly comparing themselves unfavorably with the appearance of others. Ali Katz, an estate lawyer and founder of the Family Wealth Planning Institute, sees an analogous phenomenon inContinue reading “Money dysmorphia’ could be keeping you from building wealth, expert says”
6 Ways To Reduce Your Property Taxes
by John Waggoner ermites are probably the only thing homeowners dislike more than property taxes. The average home price has soared an average 11.8 percent a year over the past three years, according to the Standard & Poor’s CoreLogic Case-Shiller U.S. National Home Price NSA Index. Although that’s wonderful, your property taxes have probably risenContinue reading “6 Ways To Reduce Your Property Taxes”
17 States With Estate or Inheritance Taxes
Even if you escape the federal estate tax, these states (plus D.C.) may hit you by John Waggoner Note: Some states levy estate taxes on a person’s assets when they die. A few states tax inheritances. Maryland does both. Most people don’t have to worry about the federal estate tax, which excludes up to $12.92Continue reading “17 States With Estate or Inheritance Taxes”
Have You Heard of Visable Phone Service?
by Rachel Hartman Visible vs. Verizon Cell Phone Plans Verizon is one of the three major wireless carriers operating within the U.S., and Visible runs on its network. Verizon owns Visible, and while the two have the same towers and a similar amount of coverage, there are distinctions between them. First, they offer different cellContinue reading “Have You Heard of Visable Phone Service?”
Elizabeth Holmes, once worth $4.5 billion, says she can’t afford to pay victims $250 a month
by Irinia Ivanova Lawyers for Elizabeth Holmes are resisting the government’s bid to force the imprisoned Theranos founder to repay victims of her fraud, claiming she won’t be able to afford the payments. Holmes was convicted of defrauding investors in Theranos and ordered to repay $452 million to victims, who include backers such as News Corp. Chairman Rupert Murdoch and OracleContinue reading “Elizabeth Holmes, once worth $4.5 billion, says she can’t afford to pay victims $250 a month”
Travel Thursdays: ‘Skiplagging’ airfare hack under fire again after American Airlines nabs teen trying it.
The reason a flight with a layover is sometimes cheaper than a direct flight (even though it requires more resources and time) is based on how airlines predict (and price according to) traveler behavior.
David Gillen, director of the transportation school at the Sauder School of Business in British Columbia, explained to Vice in 2015 that airlines price routes based on how travelers are likely to connect with another flight. “The airline will charge lower fares for passengers traveling on two legs because it gets money from both legs. This is what Skiplagged is exploiting,” he said, referring to a travel booking site that had recently been sued by United Airlines, called Skiplagged.
Is skiplagging illegal?
Skiplagging is not illegal, but airlines have actively fought it and discourage customers from engaging in it. Most major airlines stipulate in their contract of carriage that they outright prohibit it.
United Airlines notes in its contract of carriage that the airline will not only invalidate a skiplagging traveler’s ticket, but also would go so far as to “permanently ban or refuse to board the Passenger and to carry the Passenger’s baggage, unless the difference between the fare paid and the fare for transportation used is collected prior to boarding.”
The Chicago-based airline is an active critic of skiplagging. In 2019, United reportedly sent a memo to its front-line airport agents urging them to be on the lookout for passengers who engage in the hack and to report suspects to the company’s security department.
Over the years, an industry promoting hidden city booking has sprouted, with the most prominent business being the aforementioned Skiplagged. The website uses a computer algorithm to offer customers airfares based on hidden city bookings and presents the fares in an interface similar to Google Flights or Expedia.
The website was founded in 2013 by a 22-year-old named Aktarer Zaman who was working as a software engineer for Amazon in New York City.
Today, the landing page for Skiplagged proudly boasts that “our flights are so cheap, United sued us… but we won,” in a callback to when the airline, along with the travel fare aggregator website Orbitz, attempted to shut down the site in 2014.
Zaman said in a 2014 forum on Reddit that the companies sued him for “making it too easy for consumers to save money.” In the lawsuit, United and Orbitz called Skiplagged “unfair competition” and alleged that it promoted “strictly prohibited” travel. The companies sought $75,000 in lost revenue from Zaman, who in turn raised over $80,000 in a GoFundMe campaign.
Ultimately, a judge in Illinois threw out the case on the technicality that the court didn’t have jurisdiction over the case since Zaman worked and lived in New York.
That decision didn’t stop Lufthansa Airlines from suing a passenger in 2019 who engaged in the money-saving practice — but the lawsuit was later dropped. In other parts of the world, the Spanish supreme court ruled that skiplagging is legal in 2018.
Inside Joe Biden’s new student loan repayment plan
by Michael Stratford Alongside his pledge to start over on a plan to cancel student debt, President Joe Biden last week unveiled the final details of his separate student loan repayment program. The program, which has been in the works for more than a year, will permanently reshape how borrowers repay their federal student loans.Continue reading “Inside Joe Biden’s new student loan repayment plan”
Ryan Reynolds-backed Mint Mobile to be acquired by T-Mobile
by Michael Roppolo The Ryan Reynolds-backed Mint Mobile will be bought by T-Mobile, the company announced Wednesday. The acquisition is part of the cellphone carrier’s plan to buy Ka’ena Corporation, which includes Ultra Mobile and Plum, for up to $1.35 billion. The “Deadpool” star appeared in a video posted to social media with T-Mobile CEO Mike Sievert, whoContinue reading “Ryan Reynolds-backed Mint Mobile to be acquired by T-Mobile”
Crypto billionaires’ back-to-back deaths spark wild theories among the community
Many blamed the deaths on the billionaires’ past, while others suspected some form of foul play and even execution. he death of four crypto billionaires within a month has caught the crypto community’s attention. The deaths occurred under suspicious circumstances, and some of these billionaires had even raised alarms about being in danger. The spiralContinue reading “Crypto billionaires’ back-to-back deaths spark wild theories among the community”
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