A kindler, gentler Alan Greenspan?
Last week, we discussed the Fed chairman's uncharacteristically sanguine outlook on the housing bubble. Today, according to Reuters, he assured the Congressional Black Caucus that U.S. households do not appear overburdened by debt, despite a rash of recent non-business bankruptcy filings.
More Foolishly still, in reference to concerns over abusive mortgage lending practices, Greenspan emphasized the importance of "financial literacy" in today's "highly complex" financial world.
Thank you, Mr. Chairman.
In today's Motley Fool Take:
- Motorola Missteps
- Quote of Note
- Amazon Supporting Online Taxes?
- Shameless Plug: Motley Fool Income Investor
- Write for the Fool
- AOL Playhouse
- Discussion Board of the Day: Time Warner
- And Finally...
Motorola Missteps
Motorola
The country's largest wireless carrier, Verizon
A Motorola spokesperson said that anytime you design a new product with new technology, you're likely to have setbacks, but there's no excuse for a $28 billion company to miss such a crucial selling period, especially when it knew, of course, that the deadline was fast approaching. As recently as late July, Motorola expected to deliver these phones by the fourth quarter, perhaps even the third.
AT&T Wireless
This misstep at Motorola follows a string of setbacks that stretches back years now, making it no surprise that Nokia
So, not only is Motorola approaching the holidays without two key camera phone models, it lacks a leader as well. Because income has wilted, the deflated stock still trades at 50 times trailing earnings and 32 times forward estimates -- estimates that now must be called into question.
Quote of Note
"If you ever catch on fire, try to avoid seeing yourself in the mirror, because I bet that's what really throws you into a panic." -- Jack Handy, Deep Thoughts
Amazon Supporting Online Taxes?
Amazon.com
Once considered too politically risky and controversial to touch, the issue of online sales tax collections has heated up this year amid record budget deficits for states. Back in February, a group of online retailers with offline presences, including Wal-Mart
It's not entirely surprising to hear that Amazon may be willing to give its support to the online sales tax movement. Its chief financial officer said at an investment conference in May that he believes online sales tax collections are "inevitable." However, should Amazon come out solidly in favor of online sales taxes, it would be a blow to other Internet-only retailers that have been relying on their lack of a local sales tax "nexus" to defend their no-tax status.
Amazon reportedly wants the annual sales threshold for tax collection brought down from $5 million to $25,000, meaning essentially that if they're going to get taxed, they want nearly everyone to get taxed. The House sponsors didn't agree and went ahead with their version of the bill, while the Senate side considered Amazon's proposal.
There was no official word out from Amazon today about its tax opinions and support (or lack of it) for the new legislation. Still, it's an interesting story, and one to keep watching.
Shameless Plug: Motley Fool Income Investor
Did you know that dividends have accounted for 42% of the S&P 500's total returns since 1926? Is it any wonder it's been the summer of dividend love here at The Motley Fool? And to keep the love train going, we've just rolled out a brand-new newsletter focused on dividend payers. Check out Motley Fool Income Investor for free right now and also get a bonus special report, 7 Paying 7. That's right, seven investments paying 7%. That ought to top your money market funds.
Write for the Fool
The Motley Fool is currently seeking full-time and/or freelance writers to contribute to our online news and commentary. Do you read our stuff and think to yourself, "I could do better than that"? Now's your chance. Want to be a part of the Fool team? Find out what we're looking for under Editorial at jobs.fool.com.
AOL Playhouse
The next time you see your AOL Instant Messenger (AIM) window pop up, it might not be your bored nephew with time to kill or the work of a relentless spammer randomly pimping lewd sites. No, it just might mean it's your move.
As Time Warner's
It seems as if everybody is playing games these days. From Nokia
And AOL isn't some newcomer to the playing field. It's a seasoned veteran, having partnered with the likes of NTN Communications
Incorporating games into AIM won't be the elixir to cure the online giant's ails. Like Yahoo!
Discussion Board of the Day: Time Warner
Do you think that games and instant messaging software were meant to be together or will it be a case of killer app overkill? What will this move mean to the AOL brand? Will "You've Got Mail" be replaced by "You've Got Game?" All this and more -- in the Time Warner discussion board. Only on Fool.com.
Not yet a member of the Fool Community? Jump into our discussion boards free for 30 days !
And Finally...
After reading Rick Munarriz's rant on the myth that is customer service, put on some sunblock and get some small-cap exposure for your portfolio. Don't worry, there's also plenty of love to go around on Fool.com today in Freddie Mac's Summer of Love, Vans' Girl Power, and Gotta Love Bill Gates. So bask in it!
Contributors:
Bob Bobala, Robert Brokamp, Paul Elliott, Mathew Emmert, Jeff Fischer, Tom Jacobs, Jeff Hwang, LouAnn Lofton, Alyce Lomax, Bill Mann, Selena Maranjian, Dave Marino-Nachison, Rex Moore, Rick Munarriz, Matt Richey, Reggie Santiago, Dayana Yochim