Happy Über New Year; DOJ: You’re Up, Morgan Stanley; Labor Department Jobless Claims are New Year’s Bummer

Year end surge…

Image courtesy of renjith krishnan/FreeDigitalPhotos.net

Image courtesy of renjith krishnan/FreeDigitalPhotos.net

A heads up to all of you located in cities where Über is actually allowed to operate: Über is getting ready to ring in the New Year with some price surging. Of course, Über prefers the less obvious term, “dynamic pricing.” Just don’t expect to see any dynamic pricing for the rider, who might very well be paying as much as seven times the usual fare if the service is used between 12:30 am and 2:30 am. New Year’s is expected to be the busiest night of the year for the ride-sharing app, and many other services similar to it, due to the heightened demand on this particularly auspicious day. On its blog, the folks at Über said they are expecting to give more than 2 million rides in a 24 hour period and you’re best bet for the service is to call right when the ball drops or if riders are feeling especially adventurous, they should wait until after 2:30 am. Über also offered to graciously  – and economically – text riders to let them know when surge pricing – excuse me, I meant to say “dynamic pricing”  – ends.

Unsettled business…

Image courtesy of digitalart/FreeDigitalPhotos.net

Image courtesy of digitalart/FreeDigitalPhotos.net

It’s Morgan Stanley’s turn to tangle with the DOJ in an effort to reach a settlement for Morgan Stanley’s role in the 2008 financial crisis. Like its peers, including JPMorganChase, Bank of America, Citigroup, etc…Morgan Stanley is also staring down the wrong end of a DOJ investigation for its role in getting New Century Financial Corp to issue subpime mortgages. Apparently, the bank knew that homeowners would have a hard time paying mortgages but still issued them anyways. Well, that didn’t work out for anyone, now did it? Incidentally, New Century went bust following a bankruptcy filing back in 2007.

Wishing you an employment-filled New Year…

Image courtesy of nonicknamephoto/FreeDigitalPhotos.net

Image courtesy of nonicknamephoto/FreeDigitalPhotos.net

Leave it to the Labor Department to help ring in the new year with some disappointing news: namely that the number of people filing jobless claims rose last week by 17,000. While the total number of people still remains below the 300,000 mark (just barely), we are still left with 298,000 making a New Year’s resolution to get a job (we hope, anyways). Analysts actually only expected that number to hit 290,000, but, oh well. Can’t accurately predict ’em all. But we are supposed to be reassured by the fact that this time of year brings with it good tidings of volatile claims and all fiscal signs still point to a decent economic recovery and climate. Also, the four-week average, which tends to be more accurate, was only up by 250. So maybe it’s okay to breathe a little little sigh of relief.


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