Flipkart-ing Out, United Parcel Slip and You Debt-or Believe It

Prime Flipkart…

Image courtesy of Stuart Miles/FreeDigitalPhotos.com

Image courtesy of Stuart Miles/FreeDigitalPhotos.com

How do you say Amazon in India? Have you tried Flipkart? You could still say Amazon as it’s over there too and is major competition to Flipkart but that’s not why we’re here. In any case, India’s numero uno e-commerce site just raised a whopping $1 billion. Rumor has it, though, that the company’s value is probably closer to $7 billion. Several shrewd and presumably prescient investors have already raised their stakes in the company including Russian billionaire Yuri Milner’s DST Global. The company boasts 22 million registered users and sees 4 million visitors a day. Flipkart is currently developing its mobile-based business, which is probably very wise as India’s e-commerce market is expected to grow sevenfold by 2018.

Brown paper packages tied up with string…

Image courtesy of lamnee/FreeDigitalPhotos.net

Image courtesy of lamnee/FreeDigitalPhotos.net

UPS has a lot of work to do as profits of the shipping company fell a monumental 58%. Ouch. But at least the company has big plans to spend more money – $175 million – to make improvements and avoid another quarter like this one. Hey you gotta spend money to make money, right? Those improvements are geared specifically toward the holiday season which UPS flubbed the last time around when many many packages failed to make it to their intended recipients on time  – leaving many feeling very un-merry. It plans to operate on a full schedule on Black Friday and beef up its holiday season operations, as well. The company’s net income was down to $454 million from over a billion dollars a year ago. Revenue, however, was up $14.27 billion and even beat Wall Street estimates of $14.07 billion. UPS CEO Scott Davis said, “2014 is the year of investing for the customer.” Awww. So sweet. Now if they could just get those packages delivered on time.

More sucky stuff…

Image courtesy of jesadaphorn/FreeDigitalPhotos.net

Image courtesy of jesadaphorn/FreeDigitalPhotos.net

Disconcerting news out today courtesy of The Urban Institute. The institute conducted a study finding that more than a third of Americans have their own special relationship with debt collectors. I know you’re just filled with warmth and good feeling right now. Student loans, mortgages, credit card bills and so much more have contributed to the delinquency of consumers. The study was conducted on the credit files of more than 7 million Americans. Southern states for some reason had a higher percentage of delinquency than the rest of the country. However, Nevada came out the winner of the losers with a 47% share of collections, namely because that state was hit particularly hard by the recession. On average, Americans who have debt in collections owe around $5,200.

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One response to “Flipkart-ing Out, United Parcel Slip and You Debt-or Believe It

  1. I don’t know why people still camp out in the cold for black friday like eskimos… I just use dealcatcher and shopcreep. I like that shopcreep just lets you put in exactly what you want and alerts/emails you when there’s a new low price or deal cause i’m too lazy to shop around like a real person lol

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