PODCAST: An uncertain future for Greece, Post Office keeps rural posts open
Turmoil surrounds Greece as the nation remains without a new government. Profits are up at Disney, Toyota, and Macy's. In housing news, mortgage delinquencies are down. We take a look at how banks are adopting the mortgage settlement rules. The Post Office holds back on more closures. And do you like the all-you-can-eat business model? Well, David Lazarus of the L.A. Times says those plans aren't really good for business.
Greece is without a new government after an indecisive election this past weekend. Uncertainty surrounding the nation is putting future bailout money at risk. In other European news, the Portuguese government announced plans to abolish four national holidays to help ease that country’s debt crisis.
The Post Office is dropping a plan to close down thousands of rural post offices. We speak with the postmaster general about why plans have changed and what the new proposal is.
Some company earnings to report. Walt Disney Company is reporting a 21 percent jump in profit in its latest quarter, despite the flop that was “John Carter.” Disney says theme park attendance is up and it’s making more ad money from its cable channels, including ESPN.
And it’s good news from Toyota: The carmaker reported first quarter profits quadrupled to more than $1.5 billion thanks to some of its new models and the recovering global economy.
Macy’s is singing a happy tune this morning. The department store chain reported higher than expected profits in the first quarter of the year that was mostly thanks to online sales which were up more than 33 percent.
To Wisconsin, where state authorities are fining Kraft Foods for making hot dogs that were too skinny. Inspectors found 24 packages of “short weight Oscar Meyer products.” Kraft will pay about $40,000 in penalties. A spokeswoman told the Wisconsin State Journal that corrections have been made to avoid skinny hot dogs. Or as she calls them, “unplanned and unwanted variances.”
Meanwhile, in North Carolina, voters passed an initiative that boosts the state’s ban on gay marriage. Some businesses say the ban could be bad for business.
Foursquare is getting into the coupon business. The mobile company, where users check in at different locations using their phones, has announced it’s going to start issuing personalized coupons. So when you check in at your favorite coffee shop or shoe store, Foursquare will send you a special coupon to be used on the spot. Foursquare currently has about 20 million users they have checked in two billion times.
In today’s Mid-day Extra we explore a new study in the Journal of Service Research that finds consumers are increasingly uses public spaces as extensions of their work places. And finally, we take a look at the all-you-can-eat business model. Are these unlimited types of plans really good for business?