Money in a Minute: Headlines for Feb. 7, 2011

In today's roundup: Protests in Egypt cost millions, electric cars could save you thousands, and the trade deficit is worsening because we're doing better.

Money in a Minute: Headlines for Feb. 7, 2011

EGYPT: Cost of protests: $3 billion and counting

What’s the price tag for two weeks of protesting? At least $310 million per day, MSNBC reports. “The unrest that began Jan. 25 led to the shuttering of businesses and companies, the closure of banks and the stock exchange, and the exodus of thousands of tourists.”

TECH: 44 percent of Verizon Android users likely to switch to iPhone on day one

Since July 2008, the iPhone was available only from AT&T. On Thursday, Verizon starts selling the iPhone 4 to the general public – and more than four in 10 Verizon’s Android users are likely to switch, CNN reports. “For Blackberry users, it’s 66 percent.”

ECONOMY: Trade deficit in U.S. probably widened as imports increased to meet demand

With the beginning of an economic recovery comes this news from Bloomberg: “The U.S. trade deficit probably widened in December for the first time in four months as the cost of imported oil climbed.” Another big reason: “Consumer spending, which accounts for 70 percent of the U.S. economy, rose at a 4.4 percent annual pace in the fourth quarter, the biggest gain since in four years.”

CARS: A $7,500 electric car discount scares dealers

President Obama wants to give tax credits to buyers of electric cars by funneling the money through car dealers. But those dealers are wary. “In an effort to put 1 million electric cars on the road by 2015, the Obama administration has proposed a plan that would put up to $7,500 directly in the hands of car buyers without having them jump through any tax hoops,” CNN reports. “Plug-in car advocates love the idea, but dealers aren’t so sure about it.”

ADVERTISING: Doritos finger sucker steals Super Bowl Ad spotlight

Fox News rated the Doritos commercial as the best of last night, and since the network aired the game, its opinion carries some weight. But The Denver Post differed, citing the Motorala Xoom ad, while The Detroit Free Press went with their homeboy, Eminem. What was your favorite?

Michael Koretzky
Michael Koretzky @koretzky
Journalism is a profession of highs and lows. I've covered the 1988 Democratic and Republican national conventions, two space shuttle launches and one landing, and a jazz festival in Istanbul. Then again, ... More

Trending Stories


699 Active Deals

More Deals