DISH Network announced in its quarterly earnings report that they lost 94,000 customers in the first quarter of 2009.
DISH Network Corporation (Nasdaq: DISH) today reported total revenue of $2.91 billion for the quarter ended March 31, 2009, a 2.1 percent increase compared with $2.84 billion for the corresponding period in 2008.
Net income totaled $313 million for the quarter ended March 31, 2009, compared with $259 million during the corresponding period in 2008. Basic earnings per share were $0.70 for the quarter ended March 31, 2009, compared with basic earnings per share of $0.58 during the corresponding period in 2008.
DISH Network lost approximately 94,000 net subscribers during the quarter ended March 31, 2009, giving the company approximately 13.584 million subscribers as of that date.
Meanwhile, DISH Network's rival DirecTV added 460,000 customers in the first quarter. DSLReports.com says the loss of AT&T as a resale partner has hurt DISH.
The price to mail a first class letter goes up 2 cents from 42 cents to 44 cents on Monday. One of the main reasons for the constantly increasing postage fees is the Postal Service is losing money. The reported a second fiscal quarter loss of $1.9 billion.
But the Postal Service's red ink is already deep. Postal Service officials said today that they ended the fiscal second quarter on March 31 with a net loss of $1.9 billion. The primary reason was what the service described as an "unprecedented" decline in mail volume as customers either mailed less often or switched to using the Internet.
“The economic recession has been tough on the mailing industry, and we have seen an unprecedented decline in mail volumes and revenue that continued to accelerate during the second quarter,” Postmaster General John Potter said. In the second quarter, the Postal Service said, its mail volume totaled 43.8 billion pieces, down 7.5 billion pieces, or 14.7%, compared to a year earlier.
You can learn more about the Monday 11th increase here on USPS.com.
Office Depot is offering customers free copies of resumes and free faxing from April 19 to May 30, 2009. Customers can participate in the special offer by visiting the Design, Print, & Ship Depot center in any one of Office Depot's 1,100 Office Depot retail store locations nationwide. Office Depot is providing free copies of resumes, up to 25 single-sided pages, as well as free faxing to five different domestic numbers, up to 25 pages in total.
"Times are tough, and whether you are looking to make a career move or seeking your first job out of school, Office Depot is helping our customers take care of business by providing a valuable service free of charge," said George Hill, Senior Vice President of Office Depot's Design, Print, and Ship Depot. "From paper and portfolios to custom printing and shipping, Office Depot is truly a one-stop-shop for resume products and services."
Customers can upgrade their resume paper selection to a color or premium paper from Southworth for a fee.
The Simpsons postage stamps are now on sale at U.S. Post Office locations and online. You can see more details here.
"We are excited to celebrate The Simpsons on postage stamps," said U.S. Postal Service Executive Director of Stamp Services David Failor. "Eyebrow-raising to say the least, this witty, well-written pop icon continues to irreverently satire its parody of a middle-class family as it lampoons American culture. The Simpsons stamps, which includes known philatelists Bart Simpson, will serve as a great opportunity to interest youngsters into stamp collecting."
"This is the biggest and most adhesive honor The Simpsons has ever received," said Matt Groening, creator and executive producer of The Simpsons.
Fedex Office is going to offer free resume printing on March 10th reports Reuters. Fedex Office will let customers print up to 25 free resumes on high-quality paper. Fedex Office was formerly called Fedex Kinkos. Fedex acquired Kinkos in 2004.
"We understand that the economy has affected many people in a very profound way, and we want to help," Brian Philips, president and CEO of FedEx Office, told Reuters. "In January, nearly 600,000 people found themselves out of work. I understand that in February, by the time they add up the numbers, it could be worse."
Philips, who said hard copy resumes have not fallen out of favor despite the growth of online job search sites, admitted that there is nothing to stop a job hunter from getting free resumes at more than one of its stores.
"We weren't worried so much about people going to multiple stores and gaming the system. We just want to make sure people have access to this service in a time of need."
You can find more details here on the Fedex website.
There was a lot of buzz about Roberto Cavalli's new credit card with the snakeskin print when it was announced in January. Those interested in the luxury credit card no longer have to wait. The Cavalli mastercard launches this week at Milan Fashion Week and promises VIP access to Cavalli boutiques and special online sales.
Cavalli says the cardholders will be people who wants to meet. He might even dine with some of them.
"They are all the people that want to speak with me through internet, because I will talk with them," said Cavalli yesterday afternoon at his Via Senato showroom. "They can ask me what to wear that night, they can ask me how to look fantastic with a boyfriend--and once a month, I will decide, maybe in New York, to have dinner with people."
The Moment quotes Cavalli as saying, "If you have the Cavalli card, you are part of my fashion club, like a friend on Facebook."
Reuters reports that American Express is offering $300 pre-paid American Express cards to some of its customers if they will close their accounts. American Express made the offer to a limited number of its card holders.
"We sent the offer out to a select number of card members," said Molly Faust, a company spokeswoman. "We are looking at different ways that we can manage credit risk based on the costumers overall credit profile."
The company did not say how many card holders would receive the offer and did not disclose the total of their card balances.
Card holders have until the end of February to accept the offer and must close their accounts in March or April. Each card holder will receive a $300 pre-paid American Express card.
American Express, often seen as catering to relatively wealthy customers and companies, has been expanding its credit card business in recent years by reaching out to a wider range of clients.
American Express reported last week that its credit card delinquencies climbed in January. The accounts American Express are trying to close are probably the ones they are concerned about. The Reuters article says other credit card companies are reducing the credit lines of some U.S. customers. Credit companies are also mailing less new credit card offers.
The U.S. Postal Service is going to raise prices yet again. The price for a first-class stamp is going to climb to 44 cents on May 11th, 2009.
"The Postal Service is not immune to rising costs which are affecting homes and businesses across America today," said Postmaster General John Potter. "Even with the increases, the Postal Service continues to offer some of the lowest postage prices in the world."
You can see the complete rate change list here. Forever Stamps will continue to be always accepted. Consumers can buy them now at 42 cents through May 10th. Forever Stamps can be purchased at Post Offices, commercial retail outlets such as grocery stores, and online. The U.S. Post Office recently asked Congress to consider dropping the requirement that USPS deliver mail six days a week. It's unclear whether this rate increase will eliminate the Post Office's need to cut a delivery day.
The FBI is investigating an ATM scam that involved over 130 different ATM machines in 49 cities around the world. The FBI says it is the most coordinated attack they have ever seen. An article on MyFoxNY says the ATM hackers were even able to lift the daily limits people have on ATM cards. The scheme involved using a number of low level players, called cashers, that would withdraw the money from the ATM machines. The cashers were likely recruited from a website set up the hacker mastermind. The ATM machines were hit quickly in cities like Atlanta, Hong Kong and Moscow. The whole operation took just thirty minutes.
"We've never seen one this well coordinated," the FBI said.
Then shortly after midnight Eastern Time on November 8, the FBI believes that dozens of the so-called cashers were used in a coordinated attack of ATM machines around the world.
"Over 130 different ATM machines in 49 cities worldwide were accessed in a 30-minute period on November 8," Agents Rice said. "So you can get an idea of the number of people involved in this and the scope of the operation."
Here is the amazing part: With these cashers ready to do their dirty work around the world, the hacker somehow had the ability to lift those limits we all have on our ATM cards. For example, I'm only allowed to take out $500 a day, but the cashers were able to cash once, twice, three times over and over again. When it was all over, they only used 100 cards but they ripped off $9 million.
The incident happened on November 8th but the details about it didn't come to light until recently. $9 million seems pretty small for the level of sophistication involved. There is also concern the ATM thieves were able to access sensitive information like social security numbers. RBS WorldPay was the company that was hacked and where the ATM account information was taken from by the hackers. (via Boing Boing)
The recession even has the United States Post Office considering drastic changes. One of those changes could be no more Saturday delivery of mail. Postmaster General John E. Potter has asked Congress to consider dropping the requirement that USPS deliver mail six days a week. It's also possible another day, like Tuesday, could be cut instead of Saturday.
Postmaster General John E. Potter asked lawmakers to lift the requirement that the agency deliver mail six days a week.
Faced with dwindling mail volume and rising costs, the post office was $2.8 billion in the red last year and, "if current trends continue, we could experience a net loss of $6 billion or more this fiscal year," Potter said in testimony for a Senate Homeland Security and Governmental Affairs subcommittee.
If the change is made, that doesn’t necessarily mean an end to Saturday mail delivery. Previous studies have looked at the possibility of skipping some other day, such as Tuesday.
Postmaster Potter said, "It is possible that the cost of six-day delivery may simply prove to be unaffordable. I reluctantly request that Congress remove the annual appropriation bill rider, first added in 1983, that requires the Postal Service to deliver mail six days each week."
Layoffs are also a possibility as USPS looks to cut costs.
The recession may force some unhappy couples to stay together in bad marriages. They may want a divorce but can't afford. MSN Money says there are fewer divorces in a bad economy.
The recession and economic turmoil is creating a new class of casualties: married couples who can't afford to get divorced. In these tough times, many people are finding it's cheaper to stay together, even when they can't stand each other.
"The reason that the economy has such an enormous impact on divorce is that most people in the middle-income brackets are getting by on whatever income they have. They're just getting by," said Bonnie Booden, a family-law and divorce attorney in Phoenix.
Those getting a divorce can expect them to be more complex and frustrating than usual. It's difficult to correctly price items in the recession. Divorces are also complicated by layoffs. A Bloomberg story describes several different couples divorce situations and the frustrations the economy is adding. A divorce attorney told Bloomberg that the recession makes it easier for unemployed and undermployed workers to minimize alimony.
Financial-industry downsizing makes it easier for unemployed and underemployed professionals to minimize alimony by claiming their plunge in fortunes isn't short-lived, said Cynthia Hartwell, a divorce lawyer in Greenwich, Connecticut.
"If the breadwinner or your employer has been affected by the downturn, it is a good time to get divorced," Hartwell said. "They can come to court with a compelling argument that they can no longer earn what they used to earn. The court is not going to impose an order on someone whose job situation has changed dramatically."
The turmoil and uncertainities also make it difficult to determine how much someone should pay for child support. Determining the value of real estate amidst falling home prices is also more complicated. Divorce has always been messy but it's even messier now.
A Nielsen study has found that 88% of 3,000 people surveyed do not plan to change their banking and investments relationships in the short term. 84% of those surveyed are also confident in their primary financial institution.
Of 3,000 people surveyed by Nielsen in early October, 84% reported being just as confident - or more so - in their primary financial institution as they were six months ago. Ninety-five percent of those surveyed said they consider their financial assets at their primary bank to be relatively safe.
Although they remain confident in their personal banks, a significant percentage of the respondents said they had already been adversely affected by the current financial crisis.
Twenty-five percent reported significant losses in their retirement savings. Among consumers age 55 and older, that percentage was even higher: 29%.
There was a worrying statistic - 19% told Nielsen their credit card debt had increased. The study also found some expected belt tightening by consumers with people planning to cut back on eating out, leisure travel and major purchases. The complete PDF release is available here.
One big reason for the trust in banks may be the recent bailout package and the fact that Congress temporarily increased FDIC deposit insurance from $100,000 to $250,000 per depositor through December 31, 2009. You can read more information about the coverage limits here on the FDIC.gov website. Hopefully, they will eventually make the deposit insurance increase permanent.
The U.S. Postal Service have become filmmakers with a series of webisodes on YouTube called "Mark of the Eagle." "Mark of the Eagle" was written, directed, filmed, edited and produced in-house, leveraging the time and talents of Postal Service personnel. In the video below a U.S. postal carrier visiting an office building as part of his rounds finds that some of the office machines and office equipment have come alive. He must find it in himself to overcome these forces and deliver... no matter what. Of course, it all takes place on a Monday. Below is the first webisodes from the U.S. Postal Service. You can watch them all here.
The hottest luxury item that the super rich are buying isn't a car, or jewelry or a jet. It's a personalized map
of one's genome. For a mere $350,000 you can have your genome mapped and then interpreted by scientists to let you know what your genetic future holds for you.
On a cold day in January, Dan Stoicescu, a millionaire living in Switzerland, became the second person in the world to buy the full sequence of his own genetic code.
He is also among a relatively small group of individuals who could afford the $350,000 price tag.
Mr. Stoicescu is the first customer of Knome, a Cambridge-based company that has promised to parse his genetic blueprint by spring. A Chinese executive has signed on for the same service with Knome's partner, the Beijing Genomics Institute, the company said.
Scientists have so far unraveled only a handful of complete human genomes, all financed by governments, foundations and corporations in the name of medical research. But as the cost of genome sequencing goes from stratospheric to merely very expensive, it is piquing the interest of a new clientele.
"I'd rather spend my money on my genome than a Bentley or an airplane," said Mr. Stoicescu, 56, a biotechnology entrepreneur who retired two years ago after selling his company. He says he will check discoveries about genetic disease risk against his genome sequence daily, "like a stock portfolio."
But while money may buy a full readout of the six billion chemical units in an individual's genome, biologists say the superrich will have to wait like everyone else to learn how the small variations in their sequence influence appearance, behavior, abilities, disease susceptibility and other traits.
*****
Biologists have mixed feelings about the emergence of the genome as a luxury item. Some worry that what they have dubbed "genomic elitism" could sour the public on genetic research that has long promised better, individualized health care for all. But others see the boutique genome as something like a $20 million tourist voyage to space -- a necessary rite of passage for technology that may soon be within the grasp of the rest of us.
Oh, please. In ten years, you'll be able to get a personalized genome map at your ATM machine for a $5 surcharge. Everyone will have one. The question is: what can you do with the information you get? If they come up with a cure for cancer, then it's a great thing. Otherwise, it may just become a source of stress knowing that there is a 51% chance you'll get some dread disease after you hit 40.
Forbes.com is reporting on an interesting patent application filed by Apple. The patent is for a process that would allow customers to avoid long queues at places like Starbucks by placing drink orders ahead of time using their iPhone. You would be notified on your iPhone when your mocha or latte was ready so that you wouldn't have to spend any time waiting in line.
Apple's application with the U.S. Patent and Trademark Office describes a process for placing an order and then notifying customers when an order is ready to grab at a pick-up station. One goal, the patent application notes, is to avoid an "annoying wait in a long queue if the purchaser arrives before completion of the order."
U.S. Patent Application #20070291710 describes a device that also would keep tabs on where a user shops and what he or she likes to buy. Computers at participating stores would keep track of regular customers and their favorite orders.
Customers might tap a button to order their favorite drink, say a double-shot mocha, as they stroll up to the nearest coffee shop. When the drink is ready go to, the device--such as an iPhone--would chime or blink to let the thirsty one know it's time to scoop up the order at the counter.
This sounds like a consumer friendly service - no one likes waiting in line. So far it is only a patent but it sounds like something that may happen in the future.