iPUP iPhone Case Offers Safe Storage for Magnetic Cards

The iPUP is a combination case/credit card holder case for your iPhone. It was designed by Yun Seong Kim and it’s supposed to keep your cards in place, no matter what happens. What I like is that it has some technical features to protect your cards that are housed within it.

ipup case iphone 01

Read more @ Technabob

Why You Shouldn’t Buy Tech With Credit

Many companies update their tech devices every year or so. Some of them are on rigid schedules, trickling down upgrades to consumers but actually holding back some until the next update the following year so that users will buy them no matter what. What does that mean to the tech enthusiast? How often can or should you update your tech when companies release new products?

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Anonymous Banker on the Upcoming Credit Crisis

Things are just going to get worse… (via df)

Daily Financial Crisis Recap 13.10.08

Jean-Claude Trichet, Gordon Brown, Jose-Manuel Barroso, Nicolas Sarkozy and Jean-Claude Juncker. Photo by Philippe Wojazer
Jean-Claude Trichet, Gordon Brown, Jose-Manuel Barroso, Nicolas Sarkozy and Jean-Claude Juncker. Photo by Philippe Wojazer

Shares of Morgan Stanley surged after they announced that the deal is going through with Mitsubishi. The Dow is up almost 500 pts midday, nearing 9,000. This is because US stocks have surged overseas. They are trading close to $14. MS finished the day at $18.10. Most indexes gained a few percentage points.

At the end of the trading day, the Dow surged 11% to 9,387.61. It gained 936.42 today.

European govts will act together to help their banks. Spain pledges $130 billion, Paris will go for $435 billion. Lending hasn’t resumed between banks. IMF is ready to help out Hungary. Britain effectively took control of its largest banks. Germany doesn’t plan on taking control of its banks though, unlike the UK.

(will be updated at the end of the day)

Goldman Sachs seeks a NY Bank Charter. This move sets GS apart from its closest rivals, such as Morgan Stanly, JP Morgan Chase and Citigroup. The other banks have national charters, meaning that they can open branches across states without separate applications.

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Relevant Posts (check out the finance category for more)

Daily Financial Crisis Recap 12.10.08

Government leaders from the major European Union, by Lucas Dolega EPA
Government leaders from the major European Union, by Lucas Dolega EPA

An unsurprising move, after the something similar was announced in the US and the UK. Germany will inject up to $536 billion. The initial plan calls for $50 to $100 billion. Norway is going to spend $58 billion. France will pledge less than Germany. Britain is spending $255 billion and the US $700 billion.

Analysts are predicting a bleak holiday season for retailers. Are you planning on spending a lot of money?

The Fed approves Wells Fargo’s takeover bid of Wachovia. The bid was for $12.2 billion.

Fannie Mae and Freddie Mac were ordered to buy $40 billion a month of troubled mortgages.

Mitsubishi and Morgan Stanley are renegotiating their deal. MS was supposed to get an infusion of $9 billion from the Japanese giant. MS stock has hit $9.68. It was valued at $25.38 when they announce part of the deal. Mitsubishi still wants 21% of MS, but at a far lower price than last month.

Finance students are having a hard time finding the six figure jobs they thought were waiting for them.

Continue reading “Daily Financial Crisis Recap 12.10.08”

Daily Financial Crisis Recap 10.10.08

“We can solve this crisis,” photo by Jim Lo Scalzo for NYT
“We can solve this crisis,” photo by Jim Lo Scalzo for NYT

The US govt plans on buying stakes in banks in order to free up credit. Too little too late. European markets continued to fall today, by as much as 10%. Morgan Stanley’s stock fell by 22.35% today after falling by 25.8% on Thursday. Goldman Sachs’ shares also fell by 15%. A last minute rally helped the Dow only lose 1.28% today. It closed at 8,451.19, a loss of 128.

Oil closes below $78 a barrel. Will the barrel of crude sell for less than $65? Something that didn’t seem possible just a few months ago is almost reality.

Banks from Iceland face claims from depositors abroad. This could easily make Iceland go completely bankrupt, since the krona is so totally devaluated.

The credit squeeze hits Europe. Business credit lines are starting to be frozen, chopped into smaller pieces or just plain canceled as a response to the credit crunch. Businesses needing revolving credit in order to do their daily operations are going to have to find alternative financing, which if it isn’t found, will shut them down.

Stock markets in Asia plunged as well. With exports slowing down, it was bound to happen. So many markets are tied to the US, it was inevitable. With the US economy in disarray, many believe that their salvation lies with China. India hasn’t felt the squeeze that much, but they would be stupid to ignore the upcoming recession. Fear has already gripped Japan. Russia plans on buying shares on its market as well.

A Credit Crisis Spiraled Out Of Control

Great article over at the NY Times about exactly how the crisis of the last few weeks went down.