A new program links payments on federal student loans to income and forgives balances after 25 years. Those working in public service could have loans forgiven after 10 years.
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Archive for July 2nd, 2009After nine months of explosive monetary and fiscal stimulus, you’d think economic recovery would be upon us. But the June jobs report tells a much different story.
Nine of 38 employees were laid off, paidContent reports, Rosanna McCollough, GM, and Lariayn Payne, VP of Marketing, were among the casualites. The online invitation service finds itself back under John Foley, who ran it from 2002-2005, but as part of his Pronto division of IAC.
Jul
02
2009
 
Washington Post Cancels Clever Plan To Make Money Off Of Expensive ReportersPosted by: siliconalleyinsider in Silicon Alley Insider
Politico reported the plans this morning after obtaining a flier inviting sponsorships. Once the news broke, the Post newsroom quickly pulled back on the offer of reporters attending the events. This afternoon, the paper announced the whole even has been cancelled.
The going rate is $87 for a 1000 followers. While Twitter itself has yet to convert its hype into revenues, here is yet another business that’s making money off the micro-blogging service.
Jul
02
2009
Bank Theft Highlights Downside Of Virtual CurrenciesPosted by: siliconalleyinsider in Silicon Alley Insider
So what happens when fraudsters wake up to the laissez-faire virtual economy? And worse, what if the one of those fraudsters happens to be the bank CEO?
Jul
02
2009
Pay-With-Your-Phone Startup Raises $8 MillionPosted by: siliconalleyinsider in Silicon Alley Insider
Bling’s RFID-based mobile payments program, Redi Pay Bling, allows users in the U.S. to pay for goods in stores with their phones. Redi Pay Bling took two years to develop. It will compete with Visa and Mastercard.
Jul
02
2009
Get Ready for a Real Jobless Recovery: Employment Woes to Last Longer Than NormalPosted by: yahootechticker in Yahoo Tech TickerStocks are falling today after employers cut 467,000 jobs in June, higher than the 363,000 expected by economists. Unemployment rose to 9.5%, a bit below forecasts but still the highest level since Ronald Reagan’s first term in office. …
Jul
02
2009
Everything You Wanted To Know About Facebook’s Revenue But Didn’t Know Who To AskPosted by: siliconalleyinsider in Silicon Alley Insider
We’ve heard from a couple reliable sources that when it was looking for its latest funding, Facebook told investors 2009 revenues would reach $550 million. If that’s true, Facebook is growing quicker than even people inside to the company thought. Only a couple months ago, a source close to the company told us 2009 revenues would be closer to $400 million. But let’s take the $550 million figure and break that one down.
Jul
02
2009
Murdoch Calls Twitter Worthless, Says CNBC Talent Not That GoodPosted by: siliconalleyinsider in Silicon Alley Insider
On buying the New York Times: “Nonsense. . . I haven’t even thought about it. I would imagine that it would be legally and politically almost impossible, so I’m not thinking about it.” On the recent MySpace shakups, he says the division “sort of grew out of control and really out of size. I blame myself and it had to be brought back in size.”
Jul
02
2009
Craigslist Sued For Trademark InfringementPosted by: siliconalleyinsider in Silicon Alley Insider
First Call began to place ads on Craigslist in March. Soon after, its rival AAA Apartment Locating began posting ads using the key words “first call,” “call first,” and “call us first.” First Call says AAA is using those phrases to confuse customers, and has sued AAA and Craigslist. It holds Craigslist responsible because it says the company failed to stop AAA’s ads despite being aware of the trademark infringement.
DES MOINES — Former prison inmates and ex-offenders who have demonstrated they can successfully obtain employment now can receive a special certificate from the state Department of Corrections. DES MOINES — Consumer advocates said Wednesday they hope a new state law giving Iowans the ability to sue unscrupulous businesses will serve as a deterrent to scams that prey on the elderly and other vulnerable Iowans.
Jul
02
2009
Independence City Council fires city managerPosted by: wcfcouriernewsfeed in Cedar Valley BusinessINDEPENDENCE — Council members on Wednesday fired City Manager Alan Johnson amid concerns about his performance over the last year.
Jul
02
2009
Virtual Currency In China Is A $2 Billion EconomyPosted by: siliconalleyinsider in Silicon Alley Insider
In fact some virtual currency, like the QQ coin, is actually affecting the market for the renmibi, China’s actual currency. Much of the $2 billion in virtual currency is used to play games, but significant chunks, David Barboza writes, are now being traded for real physical goods, like clothes, food and services.
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Evite, a unit of Barry Diller’s IAC (IACI), has undergone a restructuring and cost-cutting meant to right the struggling ad-driven business.
The Washington Post has canceled plans to host a series of “salons” that would have mixed Obama Administration officials and Post reporters with reps from companies and nonprofits paying as much as $250,000 to attend.
An Australian company uSocial is offering to get people Twitter followers for a fee, 
Virtual currency is turning into a 
Bling Nation — a real company — has raised $8 million, reports 
We get a lot of questions about how Facebook makes its money, so here are our best estimates.
News Corp (NWS) chairman Rupert Murdoch’s media tour continues, and he gives Dan Freed at 
Craigslist is being sued by a Texas real estate company First Call for trademark infringement, reports 
The Chinese government is a little worried about how much virtual cash is being traded in the country, The New York Times