Money in a Minute: Headlines From Around the Web
In today's news: The economy will get better despite the Fed, Greece sets a new record low, college is less affordable than ever, Nissan is shocking its Leaf customers, and Wal-Mart loses its appeal.
ECONOMY: Economists lower outlook, warn against Fed easing
Economist agree: Things will get better, but don’t rush it. “They say the Federal Reserve shouldn’t bother trying to stimulate the economy – and could actually do damage if it did,” USA Today reports. “The economists are lowering their forecasts for job creation and economic growth for the rest of this year.”
WORLD: Greece given world’s lowest credit rating
If you think the economy is bad here, don’t go to Greece. The country “became the country with the lowest credit rating in the world” this week, MSNBC reports. “A restructuring of Greece’s debt – either with a bond swap or by extending maturities on existing bonds – looks increasingly likely to be imposed by European policymakers.”
EDUCATION: Surging college costs price out middle class
Tuition is rising, but salaries are not. You don’t need a college degree to know what that means: “The numbers confirm what most middle class families already know – college is becoming so expensive, it’s starting to hold them back,” CNN reports.
CARS: Nissan aggravates Leaf electric car buyers
Nissan has inexplicably dropped potential buyers from its waiting list, then delayed deliveries further because of the Japanese earthquake. “The hitches show that the first mass-market electric car for the U.S. is a long way from being sold and delivered as smoothly as the company’s Altima sedans,” Bloomberg reports.
JOBS: Wal-Mart loses $187.6M worker break case
Wal-Mart lost its appeal in a case that accused it of violating state wage and hour laws – and it will be responsible for most of a $187.6 million verdict. “The case was brought on behalf of about 187,000 current and former Wal-Mart workers in Pennsylvania from 1998 to 2006,” MSNBC reports. “Wal-Mart’s own internal review uncovered violations regarding ‘off-the-clock’ work.”
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