Money News on the Web Today

Here are a few pieces I found interesting while scouring the web today and a few comments from me:

• Weak economy may be Wal-Mart’s strong suit -- "Then came a triple whammy for American consumers: an economic downturn, rising gas and food prices and a deep housing slump. While other retailers have suffered from those woes, Wal-Mart has benefited, drawing in shoppers who previously spurned the retailer and retaining the business of those who say they dislike shopping there. Wal-Mart’s share price is up and its same-store sales, a key measure of a retailer’s health, have improved. Simply put, a weak economy may turn out to be Wal-Mart’s strong suit."

Makes sense. Everything is cheaper at Walmart, right? (Or so they'd have you believe.)

• Candidates split on how to save Social Security -- "McCain's aides said he favors a bipartisan approach and is open to working with Congress on finding a solution to the long-term solvency of the New Deal-era program, indicating he could support an array of ideas such as raising the retirement age, reducing scheduled increases in benefits and allowing younger workers to put money they currently pay for Social Security taxes into personal savings accounts. President Bush floated a similar idea for private accounts in 2005, but polls found it had little public support. Obama has been even more specific. The Democrat from Illinois has proposed raising taxes on upper-income Americans to address projected shortfalls in Social Security, but his plan has been greeted with skepticism, even from some in his own party."

Long way to go. These proposals will get worked and re-worked forever and ultimately will end up looking nothing like they do now.

• 'Zero' chance lottery tickets stun some players -- "Hoover, a business professor at Washington and Lee University in Virginia, wasn't surprised when his tickets didn't bring him the $75,000 grand prize, but he was shocked to learn the top prize had been awarded before he bought the ticket."

I knew the lottery was a bad deal, but who knew it was this bad?

• Gas hits cabbies: More hours, less pay -- "As costs soar with gas prices, cities are raising fares and adding fuel surcharges. But many drivers are finding it hard to make a living."

The economic issues we're having seem to be hitting everyone.

• Indian city pays residents to use toilet -- "The remote town of Musiri in the Tamil Nadu state has hit upon a unique idea to teach its residents proper hygiene: Pay them money each time they use the toilet. Users can make up to $0.14 a month to relieve themselves in a specially constructed toilet. Not a princely sum, but it's extra cash flow that low-income residents can make just for answering nature's call."

Look at the picture in this piece. Yikes!

And this isn't really a money story, but I HAD to throw it in since some of you give me such a ribbing for posting on pets so much -- Pet owners prefer McCain over Obama:

"An AP-Yahoo! News poll found that pet owners favor McCain over Obama 42 percent to 37 percent, with dog owners particularly in McCain's corner.

'I think a person who owns a pet is a more compassionate person — caring, giving, trustworthy. I like pet owners,' said Janet Taylor of Plymouth, Mass.

From George Washington's foxhound 'Drunkard' to George W. Bush's terriers 'Barney' and 'Miss Beazley,' pets are a longtime presidential tradition for which the presumed Republican nominee seems well prepared, with more than a dozen.

The apparent Democratic nominee Barack Obama, on the other hand, doesn't have a pet at home."

Ha! ;-)

Comments

[Megan]

Obama is just being responsible and waiting until his life is more stable before adding a dog :)

http://www.petconnection.com/blog/2008/05/19/dogged-politics/

["Mo" Money]

I think the pet connection is for the "birds".

[Lord]

I would expect so simply because pet owners are more likely suburban or rural and older as well. I wonder how city dwellers cope with pets and pets with the city. Hardly fit for humans much less pets.

They need to focus more on real problems like healthcare.

[Rod Ferguson]

I think I need a drink:

http://online.wsj.com/article/SB121494953423420859.html
http://money.cnn.com/2008/07/07/pf/retirement/pension_losses/index.htm

[Chris]

I thought that AP pet poll was bizarre, but it has gotten torn apart by pollsters as awful everything.

http://www.pollster.com/blogs/a_dog_of_a_poll_story.php