Crumbs Has Gone Stale, Rolls Royces Are Everywhere (Almost) and Banks Behaving Badly (Again)

Crumbled…

Image courtesy of YaiSirichai/FreeDigitalPhotos.net

Image courtesy of YaiSirichai/FreeDigitalPhotos.net

America just isn’t that into them anymore…cupcakes, that is. A sure sign the cupcake craze has officially arrived at a screeching halt comes with the news that Crumbs Bake Shop has shuttered all of its 65 bakes shops. All. Of. Them. The first store opened in March 2003 and  the company then went public in 2011. But a taste for the confection went south, as did the bakery’s sales. In 2013, the company choked down close to $20 million in losses. Last week Nasdaq suspended trading of the not so sweet stock after it failed to meet the minimum $2.5 million in shareholder equity. And it is with bitter and not at all sweet sorrow, that the stock has been officially de-listed.

Rolls with it…

Image courtesy of Sharron Goodyear/FreeDigitalPhotos.net

Image courtesy of Sharron Goodyear/FreeDigitalPhotos.net

If you were wondering why you keep seeing Rolls Royces wherever you go (or maybe you don’t wonder about it, or even see them all over the place), there’s a very reasonable explanantion. Lots more people are buying them. Sales for the car (but is it really just a car?) which can go for several hundred thousand dollars are up 33%. But just who are these people that are buying them, since you, unfortunately, are not one of them (or maybe you are). Well if we take peek over the pond, sales of the ultra-luxurious automobile are up in Europe over 60%. Motorists really seem to dig the Rolls in the Middle East and the Asian Pacific too. Even in the good old U.S. of A, sales climbed well into the double digits. Over 1900 Rolls Royces were sold since the beginning of the year. BMW, which owns Rolls Royce also went up about 10%.

Next up…

Image courtesy of anankkml/FreeDigitalPhotos.net

Image courtesy of anankkml/FreeDigitalPhotos.net

Move over BNP Paribas, there’s a new naughty bank in town. Actually two. Commerzbank and Deutsche Bank have become the latest European banks to face the wrath and pricey penalties from the United States Department of Justice. Both banks are accused of playing nice with countries blacklisted by the US government, including Iran and Sudan. The banks allegedly transferred money for the offending and offensively ruled countries through US operations. Deutsche Bank, which already had to pay about 500 million euros in fines swears that all its dealings with Iran were totally legit. After all, how could they not be when dealing with Iran and Sudan? Commerzbank is Germany’s second largest bank and is 17% government owned. However some are wondering and concerned that this not-so-little issue is going to put a crimp in the beautiful and somewhat harmonious relationship between the US and Germany. Let’s hope the expected $500 million settlement to forego criminal charges will assuage that.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s