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Posted
Jun 03 2009, 08:14 AM
by
Elizabeth Strott
Rating:
Money Blog: Top Stocks Blog - MSN Money
 What's a rapper to do?
The recession has now taking its toll on bling. The jewel-encrusted "grillz," diamond earrings, gold necklaces and even the glitzy spinners that have become part of rap stars' wardrobes and rides are being put on hold as rappers are now trying to save cash, according to The Wall Street Journal.
With gold prices soaring nearly 10% in May (gold is currently trading at about $980 an ounce) and CD sales plunging, it's no wonder rap stars are cutting back on the bling.
Buyers like cash4gold.com have been cashing in as Americans have been trading in everything from gold chains to signet rings. So it's not a huge surprise that Lil John wannabes are taking out their gold teeth and selling them. There's even a site, sellyourgoldteeth.com, that is designed solely for people who want their good old pearly whites back -- and some cash, to boot.
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Posted
May 22 2009, 10:39 AM
by
Minyanville
Rating:
Money Blog: Top Stocks Blog - MSN Money
This article was written by Minyanville Executive Editor Kevin Depew.
1. Pimco's Gross: U.S. at risk of losing AAA rating
Bill Gross, manager of the world's biggest bond fund, warned on Thursday the United States will eventually lose its top AAA credit rating, a fear that had already spooked financial markets on Thursday and could keep the dollar, stocks and bonds under heavy selling pressure, according to Reuters.
Late last week, there were about a hundred or so news stories screeching some version of the headline above. The angle is that when the manager of the "world's biggest bond fund" warns that the U.S. is in risk of losing it's triple-A credit rating, we'd better listen. It's an ominous story, but there's something a little off about it.
Ah, yes. Now I remember why it seems a little "off”; It's old.
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Posted
Mar 17 2009, 08:07 AM
by
Minyanville
Rating:
Money Blog: Top Stocks Blog - MSN Money
While American International Group (AIG) isn’t the only company eager to send executives to swanky retreats at lavish resorts, other firms have taken note of the decidedly negative press generated by the move.
As a result, they're scaling back expenditures, canceling conferences, and generally demanding their employees adopt a lower profile in the T&E (travel and entertainment) department.
Goldman Sachs (GS) recently announced its business travelers would no longer be put up at the Ritz Carlton. BB&T (BBT), a recipient of $3.1 billion in bailout money, also shunned the Ritz, canceling a March event for top sales people.
This trend bodes ill for states like Florida, a popular vacation destination for firms looking to reward star employees. According to the Wall Street Journal, in the last quarter of 2008, Florida tourism dropped more than it has at any point since the period following September 11. Hotels are receiving cancellation requests from companies wary of showering employees with expensive trips as others lay them off in droves.
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Posted
Dec 09 2008, 10:06 AM
by
Kim Peterson
Rating:
Money Blog: Top Stocks Blog - MSN Money
 My mom is always telling me to guard my stuff more carefully these days, as desperate times lead to desperate measures. Too bad no one told Harry Winston.
Shares of the jeweler fell 12% last week after its Paris boutique fell victim to one of the biggest capers in history. Thieves made off with $108 million in goods in what is being called the "heist of the century." I can see the Hollywood movie already.
These thieves were good. They knew the names of store employees. They dressed as women, since jewelers are typically more trusting of women and more likely to allow them to enter, according to the International Herald Tribune. And they hit before the holidays, when jewelry stores are especially well-stocked. Insurance should cover the losses, but Harry Winston now has the same problems as someone with too many fender-benders:
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Posted
Oct 29 2008, 03:34 AM
by
Douglas McIntyre
Rating:
Money Blog: Top Stocks Blog - MSN Money
Over the last several years, Wal-Mart turned away from its strength of providing everyday low prices on items ranging from drugs to lawn mowers. It tried to move upscale with fashion lines and fancy groceries.
The market rejected the new plan. Wal-Mart began to have to fight a two-front war. One was with shareholders that did not like its direction. The other was with local governments and merchants who did not like the big retailer putting mom and pop out of work.
Wal-Mart has done better recently. As the economy has worsened, consumers are coming back to its stores to get bargains. They can't afford Whole Foods and Tiffany now.
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Posted
Oct 29 2007, 09:45 PM
by
Kim Peterson
Rating:
Money Blog: Top Stocks Blog - MSN Money
Blue Nile's stock should be on a roll, heading into the holidays with lots of momentum. Instead, the shine is gone. Still, the online jeweler got a nice smooch from Forbes last week. According to the magazine, Blue Nile is selling more engagement rings and wedding bands than Tiffany & Co. -- $197 million in bling last year compared with Tiffany's $186 million. Says Forbes:
"The retail experience just serves to sucker and intimidate the customer, especially men who often feel as out of their depth in a jewelry store as they do inside Victoria's Secret--no wonder three quarters of Blue Nile's Internet ice-buyers are guys."
Oh come on, do men really feel that awkward in a jewelry store? Anyway, that's beside the point. I want to know what's going on with this company's stock. After crossing the $100 mark three weeks ago, the share price has dropped 20% to $80. Are investors feeling jittery before Blue Nile's Nov. 6 earnings release?
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