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MacUpdate's Spring 2012 Bundle offers 11 Mac apps for just $49.99, an 87% discount. The bundle includes such programs as VMware Fusion 4, Drive Genius 3, PDFpen 5, Typinator 5, Phone to Mac, and Star Wars: The Force Unleashed: Ultimate Sith Edition, to list a few...
Apple's new iPad reported to have Wi-Fi problems, charging issues in addition to running warm. Is Apple's quality control slipping, or are these just aberrations easily fixed by software updates?
Cast your vote in "Today's Poll..." in the left column below or go straight to the results here.
Thursday Highlights: Peter Burrows and Jim Aley call iPad "the PC killer" and quote a designer who says the competition never learns from Apple, they just "keep doing the same old crap"; MacNewsWorld's Chris Maxcer backs up the argument highlighting the elements of tablets, namely iPad, which take people away from their PCs; are the talks over iPad trademark between Apple and Proview stalled?; Texas set to aid Apple with considerable funds to help the company grow their presence in Austin; Scott Turow believes the anti-trust suit against Apple could actually help solidify Amazon's book monopoly; Ars Technica answers your questions over data security in iCloud; Adobe takes the wraps off of Photoshop CS 6 and we've posted a number of reviews in our OS X section including takes from Macworld, Techland, Popular Photography, dpReview, and many others; an interesting survey in which 1 in 10 Apple product owners in the US and UK would bank with Apple if the company moved into the money sector; RIM facing more troubles as their stalwart BlackBerry loses top spot to Apple in Canada; Steve Jobs tried to recruit Linux guru Linus Torvalds; a very touching video of how a young man with tremendous physical disadvantages uses his Macs; PCWorld's lab tests reveal the new iPad is "slow to recharge", and "barely charges during use"; the new tablet also reported to have Wi-Fi problems and heat issues?reports in our Hardware/Software, and Op/Ed sections; Safari 5.1 on iOS vulnerable to address bar bug; the new Apple TV dinged as less reliable than rival TV devices; Apple applies for patents covering a new advanced remote for TV, haptic feedback, more glass on future iOS devices, among others.
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News
"Signs in Mountain Lion point to 'retina' display MacBooks sooner than later"?Ars Technica?4:49 PM
"Ask Ars: how safe is my data stored in iCloud?"?Ars Technica?9:32 AM
AppleCare/Troubleshooting
"Logic Pro and MainStage: Using royalty-free loops in commercial work"?Apple Support?7:19 PM
"Mac OS X Server: Software Update Certificate expiration"?Apple Support?8:54 AM
Reviews/How-To/Tips
"Photoshop CS6 Beta is dark, swift, and content aware: Beta release reveals advances under the hood for boosting speed, intelligent operations, and 3D functionality"?Macworld?8:50 AM
"Adobe's Photoshop CS6 Beta: Even a Little More Magical"?Techland?8:48 AM
"Adobe Photoshop CS6 Beta Now Available for Download, We Go Hands-On"?Popular Photography?8:51 AM
"Photoshop CS6 Review: The Best Update In Recent Memory"?Gizmodo?8:49 AM
"Photoshop CS6 improvements"?bjango?8:49 AM
"Adobe unveils Photoshop CS6 beta with redesigned UI and 65 new features, download it for free today"?Engadget?8:50 AM
"Adobe Photoshop CS6 hands-on preview"?The Verge?8:10 AM
"Adobe revs Photoshop's engine (hands on)"?CNET News?8:49 AM
"How To manage Apple color panel favorites in OS X"?MacFixIt?5:39 PM
"Final Cut Pro X 10.0.3 Review"?Mac|Life?10:55 AM
"Review: Hazel, your Mac's housekeeper"?IT.Enquirer?12:55 PM
"Akvis Magnifier review: On small images Magnifier offers a lot of control over how the final result will look"?Macworld UK?8:55 AM
"Merlin 2.8 is a top-tier project management application"?Macworld?8:43 AM
"AccessMenuBarApps lets you see hidden menu-bar icons"?Macworld?4:53 PM
"Skirting auto-login in Lion"?Macworld?9:31 AM
"Hide That Cluttered Desktop with Camouflage [OS X Tips]?Cult of Mac?8:58 AM
"How To Add Artistic Designs To Mac Fonts With Point And Click And TypeStyler"?Mac 360?7:50 AM
"Paranoid About Mac Security? Try The Easy Way To Stop Mac Apps From Phoning Home"?McSolo?7:50 AM
"How Do You Add Videos To iTunes? Try The Drag And Drop And Convert App iVI Pro"?Mac 360?7:49 AM
"Free Mac Plugin Schedules Gmail To Send Messages Later"?BohemianBoomer?7:49 AM
"9 Reasons To Try A New Mac Email App"?NoodleMac?7:50 AM
Op/Ed
Press Releases
"Updated Ebook Explains Managing Data in DEVONthink 2"?TidBITS?4:16 PM
"AirServer 4.2 released, optimized for iPad 3"?AppleTVHacks?10:10 AM
"Play It Smart, Play Monkey Tales on Mac: The World's Coolest Homework Games Now Available on the App Store"?Monkey Tales?9:50 AM
"iPackr Previews and Unzips Archives on OS X"?Lifehacker?9:44 AM
"Ambrosia seeks iToner 3 beta testers"?iLounge?9:42 AM
"Photoshop CS6 Beta Now Available on Adobe Labs"?Adobe?8:42 AM
"QUBYX Integrated Konica Minolta CA 210 In Mac-Compatible PerfectLum"?prMac?8:37 AM
"Screen Vault - A Brand New Innovative way to Lock and Unlock your Mac"?prMac?7:48 AM
"Reggie Ashworth releases AppDelete 3.2.5 - Uninstall Anything"?prMac?7:48 AM
"iBank 4 Competitive Upgrade Deal Offers Savings To Switch From Quicken"?prMac?7:48 AM
"Desktop Blurrifier 1.0 Released for Mac OS X"?prMac?7:48 AM
"Buy, build and decorate houses with Jane's Realty on Mac"?prMac?7:47 AM
"A Better Finder Attributes 5.12 features major UI refresh"?prMac?7:47 AM
"Aneesoft YouTube Converter for Mac Supports iPhone 4S, Kindle Fire etc"?prMac?7:47 AM
"Half of Apple fanbois would bank with the iPad titan: One in 10 punters polled in the US and UK admitted they would bank with Apple if the iPad maker decided to move into the money sector. Among Apple product owners, 43 per cent of those quizzed would consider dumping their current banks for the iPhone biz."?The Register?10:00 AM
"Apple and Samsung 'rule the roost' with 90% of mobile industry's profits"?AppleInsider?10:22 AM
"UBS: Half of new iPads sold will tap into 4G"?GigaOM?4:47 PM
"BlackBerry crushed: Apple iPhone beats RIM in Canada"?Computerworld?7:53 AM
"BlackBerry Loses Top Spot to Apple at Home: Corporate Canada"?Bloomberg?8:39 AM
"Ouch. iPhone Outsells BlackBerry in Canada."?AllThingsD?11:10 AM
"Why Is RIM Hiring iOS App Developers?"?AllThingsD?4:26 PM
"RIM hiring iOS developers for enterprise apps"?AppleInsider?6:41 PM
"Warehouse boss throws down gauntlet to Apple: On Wednesday, The Warehouse sold 100 units of the new iPad, throwing a spanner in Apple's carefully staged-managed plans for Friday's official release."?National Business Review, New Zealand?8:38 AM
"iPhoto for iOS hits one million users"?TUAW?8:38 AM
"iPhoto for iOS has over one million users in less than 10 days"?The Verge?9:32 AM
"Portland Commission Offers Feedback on Store Design"?ifoAppleStore?4:54 PM
"First look at huge Portland 'glass box' Apple Store"?9 to 5 Mac?5:34 PM
"An aerial view of Apple's North Carolina solar array site"?FairerPlatform?9:50 AM
"Foxconn International swings to 2011 net profit"?Reuters?10:55 AM
"Report: Nokia, Apple battle over ultra-tiny nano-SIMs"?The Register?2:14 PM
"None of us can ever complain that a piece of software is too hard to learn again"?Macenstein?9:39 AM
"New iPad Proves to be Tougher than Predecessors"?PadGadget?4:49 PM
"Android store spotted in China ... selling iPhones"?The Register?2:15 PM
"Linux creator Linus Torvalds declined job offer from Steve Jobs"?SlashGear?10:02 AM
Non-Apple News
"Sprint to offer lower prepaid service plans"?MarketWatch?2:18 PM
"AT&T Says Ice Cream Sandwich Update Available, at Least for One of Its Android Phones"?AllThingsD?2:17 PM
"Designer creating new versions of Raspberry Pi"?ZDNet?2:06 PM
"Facebook Adding High-Resolution Photos and Fullscreen Viewing Today"?Techland?1:55 PM
"Facebook's new privacy policy to come into effect on Friday evening: Facebook's comment period on the updated privacy policy ends Friday"?Techworld?1:43 PM
"Photoshop CS6 Beta Unveiled With Video, Content-Aware Tools"?PC Magazine?11:58 AM
"Clojure inventor Hickey now aims for Android: In an interview, Clojure founder Rich Hickey discusses future of the functional JVM language, including his mobile aspirations"?InfoWorld?11:37 AM
"Nvidia Unveils Ultra-Efficient Kepler GPU: With performance per watt as its new rallying cry, Nvidia puts a fresh spin on its eternal rivalry with AMD for desktop?and especially laptop?graphics supremacy."?PC Magazine?11:56 AM
"Google dumps keys, passwords; secures services with standards, certs"?ZDNet?2:05 PM
"Google mulls bribing operators to stuff its Wallet into pockets"?The Register?1:48 PM
"Google Wave Still Shutting Down April 30"?eWeek?11:23 AM
"Google patents tech to serve ads based on background noise: In theory Google could listen in on phone conversations and serve ads based on background noise"?IDG News Service?10:54 AM
"Google imagines environment-aware mobile adverts"?BBC?10:35 AM
"Acer Releases Iconia Tab A510 Android Tablet, Plans for a Windows 8 Tablet"?ABCNews?10:34 AM
"Sony colorfully reveals Android 4.0 schedule for tablets"?CNET News?10:21 AM
"Will Megaupload's 28 petabytes of data be deleted? Megaupload's hosting provider, Carpathia, wants to get rid of it, saying it costs US$9,000 a day to maintain"?IDG News Service?10:54 AM
"Mass Effect 3: Creators address ending backlash"?Washington Post [Free Registration Required]?9:59 AM
"Nokia Agrees With Unions on 1,000 Job Cuts at Finnish Plant"?Bloomberg?10:17 AM
"Tech firms clamor for space in bubbly S.F. market"?MarketWatch?9:50 AM
"Windows 8 ready for HiDPI displays"?Electronista?11:04 AM
"Dude, where's your phone? Lookout knows... and tells"?CNET News?8:37 AM
Publications/Podcasts
"Mac Geek Gab Premium Podcast: MGG 387: iOS Calendar Alerts, Network Bridging, 4G & More"?The Mac Observer?4:16 PM
"New iPad not quite running circles around iPad 2"?CNET News?4:33 PM
"Consumer Reports' iPad Battery Claims Don't Check Out with Us"?Techland?2:15 PM
"Scosche BassDock is a solid speaker, stand, and charger for iPad"?Macworld?11:06 AM
"Case-Mate's Pop! iPhone 4/4S case features a kickstand and flashy colors"?Macworld?8:48 AM
iPad/iPhone/iPod touch Apps
"Apple iPhoto: The editing tools are quite basic, but slick interface design lifts iPhoto above the photo-editing crowd."?Register Hardware?7:55 AM
"Run Windows & Microsoft Office on the iPad for Free with OnLive Desktop"?OS X Daily?4:52 PM
"This American Life for iPad Review: This American Life for iPad is a fan's dream come true, but is it for everyone else?"?148Apps?9:52 AM
"MyPix Photo Watermarking and Sharing Review: App provides simple way to create customized watermarks for your photos"?Macworld?4:53 PM
"Bluefire E-book Reader for iPad: Beautiful & Full Featured"?The Mac Observer?4:21 PM
"iOS Gems: Angry Birds Space, Draw Something, Sky Gamblers: Air Supremacy + Zuma's Revenge! HD Article"?iLounge?4:49 PM
"Rune Raiders for iPad, iPhone and iPod touch"?AppleTell?8:43 AM
"Angry Birds Space Review: Much anticipated, the new Angry Birds title doesn't disappoint. It's inventive and compelling."?148Apps?10:55 AM
"CoinKeeper Review: CoinKeeper is an interface-focused personal finance app with some game elements."?148Apps?4:46 PM
"The Thrill Electric Review: A set of wonderful, enhanced comics set in Victorian Manchester."?148Apps?4:46 PM
"Cheese Please Review: Cheese Please is a turn-based strategy puzzle game with Portal-like stat tracking to give the puzzles some replay value."?148Apps?4:46 PM
"HipGeo Review: Travel blogging functionality that's simple to use and effective."?148Apps?4:46 PM
"The Final Hours of Mass Effect 3 Review"?148Apps?11:07 AM
"Neoteria Review: Neoteria is a retro-style shoot 'em up that plays much better with real controls."?148Apps?9:41 AM
How-To/Tutorial
"How To copy, paste, and perform basic text editing on your new iPad"?iMore?8:04 PM
Tips
"Deleting numbers in Calculator for iOS Tips"?iLounge?4:49 PM
"Dear Aunt TUAW: Why can't I buy older software for my early iDevices?"?TUAW?4:47 PM
"iOS Video Tip: Quickly Enter Additional Domain Options On Your iPad"?MacTrast?8:58 AM
"The Front Row: Playing with truth/In wake of Daisey affair, our theater panelists ponder roles of fact, art"?UTSanDiego?9:26 PM
"Josh Topolsky says Mike Daisey had to lie"?The Loop?8:36 PM
"Imagining a future free of data caps: There needs to be a new way that balances the demands of customers and carriers"?Macworld?4:54 PM
"The New iPad Is Out: What Now, Everybody Else?"?Techland?4:53 PM
"Can We Finally Say Goodbye To Needing Wi-Fi For FaceTime Calls?"?App Advice?4:50 PM
"Bill Shock Coming To New iPad Owners"?BYTE?4:49 PM
"Would You Bank With Apple?"?Time?4:35 PM
"New iPad accounts for 6 percent of iPad traffic"?ZDNet?4:19 PM
"Ted Landau's User Friendly View: Are Apple Media Biased? Of Course"?The Mac Observer?4:17 PM
"Will Apple's iPad be priced out of the market"?TG Daily?2:13 PM
"iPhone 5 rumored to have a bigger screen? Unlikely"?ZDNet?4:20 PM
"A 4.6-Inch iPhone With 4G LTE? I'd Buy That"?TechCrunch?2:12 PM
"Steve Jobs One Of The 'Greatest Entrepreneurs Of Our Time"?MacNews?2:06 PM
"iPhoto vs. Photoshop Touch on the new iPad: Consume or create?"?PCWorld?10:55 AM
"4.6-Inch iPhone? Don't Believe the Hype"?PCWorld?11:04 AM
"Apple's Next iPhone: What Are The Specs?"?ValueWalk?10:24 AM
"Will the iPhone 5 Be Super-Sized? What A Bigger Screen Means for Data Usage"?Forbes?9:54 AM
"$600 a Month To Use Your New iPad: How Does That Sound?"?Forbes?9:37 AM
"Greg's Bite: Sprint, Hot IPads, Google's 1 Gig Fiber"?MacNews?8:29 AM
"New iPad Too Hot to Hold"?Rixstep?7:52 AM
"Why Selling More Phones Than Apple Sells iPhones Is A Brain Dead Exercise In Futility"?PixoBebo?7:50 AM
Non-Apple
"Pinterest design spreading like a virus, because it works: There are good reasons there are more sites every day that look like Pinterest. Some are built to mimic the site intentionally. Others ended up with the same design for different reasons... they say."?CNET News?6:41 PM
"Can you go 24 hours without any tech?"?CNET News?2:27 PM
"Huh? RIM looking to hire iOS app developer"?CNET News?2:27 PM
"Facebook alters privacy policy: Is your personal data now 'fair game'?"?ZDNet?2:07 PM
"Boot storms and how to avoid them"?ZDNet?2:07 PM
"The next frontier in liquid cooling -- laptops"?ZDNet?2:06 PM
"Galaxy Note Won't Taste Ice Cream Sandwich Until Q2, But New Apps Sweeten The Deal"?TechCrunch?1:41 PM
"The Pros and Cons of Using Virtual Desktop Infrastructure"?PCWorld?12:03 PM
"Hands On With Acer's Kepler-Powered Ultrabook"?PC Magazine?11:55 AM
"Browser usage reports: Lies, damn lies, and statistics/Chrome briefly overtook IE in the browser wars -- or did it? The devil's in the details of how StatCounter and Net Applications count users"?InfoWorld?11:37 AM
"New Dell PowerEdge: More power, deeper management/First look: 12-gen, 2U Dell PowerEdge R720xd pairs hardware heft with first-rate remote management tools"?InfoWorld?11:37 AM
"Hands On With Adobe Photoshop CS6 Beta"?PC Magazine?11:56 AM
"Why robot brains could be the killer app of cloud computing"?The Globe and Mail [Free Registration Required]?11:33 AM
"Is Pinterest the next Facebook? An exclusive look inside CEO Ben Silbermann's social media sensation."?Fortune?11:31 AM
"The year's hottest, and creepiest, apps"?CNN?10:51 AM
"5 Ways To Land A Hot Programming Job: As more and more large enterprises outsource their IT jobs, here's how you can jostle for a programming position at a killer startup."?InformationWeek?10:30 AM
"3 Reasons You Won't Give Up Your BlackBerry for Droid 3"?TheStreet?9:31 AM
"'Hacktivists' stole 58% of thieved data in 2011"?CNNMoney?9:29 AM
"Customers Not Happy With Internet Service, TV Service Experience"?MacNews?8:29 AM
Humor/Cartoons
"Viral Video: Papa's Got a Brand-New Apple iPad (And a Knife)"?AllThingsD?9:32 AM
"Please A Hipster, Turn Your iPhone Into A Rotary Phone With This Dock"?Cult of Mac?5:36 PM
"Brokers and Agence Say: 'I Want My iPad App'"?RISMedia?4:37 PM
"Netflix App Updated with Retina Images for New iPad"?PC Magazine?4:18 PM
"Julie Kuehl Dives into Tech, Draw Something on The Tech Lounge"?The Mac Observer?11:02 AM
"Connect to Fellow Dieters with Diet & Loss Buddies"?148Apps?9:52 AM
"Forex Trading On-the-Go With the iPhone Trading Platform"?PRNewswire?9:47 AM
"Nine Year Old Creates iPad iPhone App: The app, KencoJet, was created using AppToolz, the first iOS App-Creating App"?PRWeb?9:47 AM
"GMN Optimizer Brings Satellite Phone Data To iPad, Laptops via Wi-Fi"?PRWeb?9:47 AM
"Picture AAC App Helps Children with Autism Worldwide Communicate Effectively"?PRWeb?9:47 AM
"New iPad Launch Sparks 324% Uplift In March Tablet Trade-Ins"?PRWeb UK?9:46 AM
"Boy Loves Girl - Lite" [From Dev. Email: "We're giving away the first 13 levels of our IOS gem 'Boy Loves Girl' for free!"]?Grubby Hands?9:45 AM
"Targus Confirms It Will Replace Cases Incompatible With New iPad"?RazorianFly?8:58 AM
"Case Makes Your iPhone Look Like A Raw Internal HDD"?Cult of Mac?8:58 AM
"ElementCase Releases Epiphany Vapor Pro Edition"?Run Around Tech?8:55 AM
"Smule announces Beatstream music game for iOS"?AppleTell?8:43 AM
"Towers Watson Launches Latest iPad Application"?Business Wire?8:42 AM
"Netflix: HD streaming to the iPad is on the roadmap"?TUAW?8:38 AM
"Weather Wow for iOS gives you news and weather together"?TUAW?8:38 AM
"Updates to Even More iOS Apps: ArtRage, In Class, SketchMee Lite, Kindle, OSnap!, Huffington Post, Photo&Pic Collage, Flipboard and Times of India"?eXtensions?8:19 AM
"Flipboard Launches on iPhone in China, Makes Sina Weibo and Renren Available Worldwide"?Inside Flipboard?8:13 AM
"Angry Birds Space live on iTunes App Store [U]?iPodNN?8:13 AM
"Angry Birds Space Is Unleashed On The App Store"?AppleBitch?7:51 AM
"ReaddleDocs for iPhone Gets a Second Wind"?prMac?4:48 PM
"Magic Message for iOS - A New Way to Send Text Messages"?prMac?7:49 AM
"SupaSounds Launches its Partnership Program for Indie Developers"?prMac?7:49 AM
"Picflick for iPad takes social photo sharing & storage to the next level"?prMac?7:48 AM
"Ghost Type - a typing tutor that is more than a just a typing tutor"?prMac?7:48 AM
"Nyan Cat Adventure - Internet Phenomena Pop Tart Cat comes to iOS"?prMac?7:48 AM
"Dot Lock Protection Free - Major Update"?prMac?7:48 AM
"FT Apps releases 'Save the Balloon' for iPhone/iPad/iPod touch"?prMac?7:48 AM
"Birdie 4.0 for iOS - Golf scoring on the iPhone gets even better"?prMac?7:48 AM
"Jumbo Jets launches on iPad and Android devices"?prMac?7:48 AM
"Vegetable Samurai 3D PRO 1.0 for iOS - Slice Many Veggies in One Stroke"?prMac?7:48 AM
"Baglioni Hotels releases its brand new iPhone App"?prMac?7:48 AM
"Large Fruit Collider 1.0 for iOS-Fruit Accelerator Enables Core Research"?prMac?7:48 AM
"WritePDF 2.0: The most powerful PDF reader and editor updated for iPad 3"?prMac?7:48 AM
"Shake iPhones Together, Share Files to Each Other - iPhone App shake2u"?prMac?7:48 AM
"Once you swap you just can't stop"?prMac?7:48 AM
"NoodleWorks Interactive Releases Award-Winning Noodle Words for iPhone"?prMac?7:48 AM
"Gardening fun on the go gets easier with Farm Mania 2 free for iPad"?prMac?7:48 AM
"DutchRadio station streaming 1.0 for iOS Free - All Dutch Radio Stations"?prMac?7:48 AM
"Microsoft's tablet strategy could challenge Apple"?MarketWatch?9:50 AM
"Microsoft tries to lure Apple developers to Windows 8"?V3?1:57 PM
"Microsoft Agrees to Drop Set-Top Box Patent Suits Against TiVo"?Bloomberg?10:37 AM
"Microsoft And TiVo Drop Their Patent Lawsuits Against Each Other"?TechCrunch?1:39 PM
"TiVo Settles Patent Suits With Microsoft; Grants No Rights"?Forbes?10:17 AM
"All that for nothing: Microsoft, TiVo dismiss patent lawsuits"?CNET News?10:21 AM
"Windows 8 will tweak its appearance to accommodate different screens"?V3?1:56 PM
"Microsoft: Windows 8 will support retina-style displays, too"?ZDNet?2:06 PM
"Windows 8 is ready for 'Retina' display screens"?ZDNet?2:05 PM
Tax rebates boost bankruptcies and why this isn't a bad thingPublic release date: 22-Mar-2012 [ | E-mail | Share ]
Contact: Timothy S. Paul tp2111@columbia.edu 212-305-2676 Columbia University's Mailman School of Public Health
New research reveals how bankruptcy-related costs force families to delay filing until they get their tax return, and that new bankruptcies may actually help the economy
Many cash-strapped American families are waiting on their tax rebate to file for bankruptcy, and this trend has gained steam as costs related to filing for bankruptcy have gone up.
Results of the new research are published as a National Bureau of Economic Research working paper by Tal Gross, PhD, an assistant professor of Health Policy and Management at the Columbia University's Mailman School of Public Health, and colleagues at the University of Chicago Booth School of Business and the Olin Business School of Washington University in St. Louis.
The researchers looked at the relationship between tax rebates and bankruptcy filings in 2001 and 2008, two years when many Americans received rebate checks. Total bankruptcies increased by about 2% after the 2001 rebates, and by 7% after the 2008 rebates. This uptick, they say, follows the 2005 Bankruptcy Abuse Prevention and Consumer Protection Act legislation, which raised legal and administrative fees from an average of $921 to $1,477 and mandated credit counseling paid for by the filer. As a result, the number of bankruptcy filings quickly fell by more than half, although they have since rebounded to near pre-2005 levels.
The new rules have been hotly debated. Do they screen-out spurious and unneeded bankruptcies, or do they act as a barrier to those most in need? Dr. Gross says his new research supports the latter scenario. "Bankruptcy can be a Catch-22 when a substantial amount of money is needed to get out of situation defined by having little or no money. If it weren't for these rebate checks, many families would have to postpone filing for bankruptcy for months until they save enough money."
While bankruptcy is often seen in a negative light, Dr. Gross notes that it can be a boonand not just to individual families. Bankruptcy allows for renewed spending, he says, acting as an economic stimulus. For these reasons, he says, lowering barriers to bankruptcy, as long as they don't encourage excessive consumer borrowing, would be a win-win.
Past research into the motivations for bankruptcy has focused on two areasthe role of short-sighted behavior (a shopping spree) and unanticipated events (a 2010 study by Dr. Gross found that approximately 26% of bankruptcies are driven by medical costs). The new paper may be the first to look at how new filings are affected by high filing costs combined with low cash. This "liquidity constraints" approach, he says, can also be used to study other social benefits like disability and unemployment insurance.
"This research provides a valuable look at the causes and consequences of bankruptcy for families as they make decisions that affect their health and financial security," says Michael Sparer, chair of Health Policy and Management at the Mailman School.
###
About Columbia University's Mailman School of Public Health
Founded in 1922 as one of the first three public health academies in the nation, Columbia University's Mailman School of Public Health pursues an agenda of research, education, and service to address the critical and complex public health issues affecting New Yorkers, the nation and the world. The Mailman School is the third largest recipient of NIH grants among schools of public health. Its 300 multi-disciplinary faculty members work in more than 100 countries around the world, addressing such issues as infectious and chronic diseases, environmental health, maternal and child health, health policy, climate change & health, and public health preparedness. It is a leader in public health education with over 1,000 graduate students from more than 40 nations pursuing a variety of master's and doctoral degree programs. The Mailman School is also home to numerous world-renowned research centers including the International Center for AIDS Care and Treatment Programs (ICAP), the National Center for Disaster Preparedness and the Center for Infection and Immunity. For more information, please visit www.mailman.columbia.edu
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Tax rebates boost bankruptcies and why this isn't a bad thingPublic release date: 22-Mar-2012 [ | E-mail | Share ]
Contact: Timothy S. Paul tp2111@columbia.edu 212-305-2676 Columbia University's Mailman School of Public Health
New research reveals how bankruptcy-related costs force families to delay filing until they get their tax return, and that new bankruptcies may actually help the economy
Many cash-strapped American families are waiting on their tax rebate to file for bankruptcy, and this trend has gained steam as costs related to filing for bankruptcy have gone up.
Results of the new research are published as a National Bureau of Economic Research working paper by Tal Gross, PhD, an assistant professor of Health Policy and Management at the Columbia University's Mailman School of Public Health, and colleagues at the University of Chicago Booth School of Business and the Olin Business School of Washington University in St. Louis.
The researchers looked at the relationship between tax rebates and bankruptcy filings in 2001 and 2008, two years when many Americans received rebate checks. Total bankruptcies increased by about 2% after the 2001 rebates, and by 7% after the 2008 rebates. This uptick, they say, follows the 2005 Bankruptcy Abuse Prevention and Consumer Protection Act legislation, which raised legal and administrative fees from an average of $921 to $1,477 and mandated credit counseling paid for by the filer. As a result, the number of bankruptcy filings quickly fell by more than half, although they have since rebounded to near pre-2005 levels.
The new rules have been hotly debated. Do they screen-out spurious and unneeded bankruptcies, or do they act as a barrier to those most in need? Dr. Gross says his new research supports the latter scenario. "Bankruptcy can be a Catch-22 when a substantial amount of money is needed to get out of situation defined by having little or no money. If it weren't for these rebate checks, many families would have to postpone filing for bankruptcy for months until they save enough money."
While bankruptcy is often seen in a negative light, Dr. Gross notes that it can be a boonand not just to individual families. Bankruptcy allows for renewed spending, he says, acting as an economic stimulus. For these reasons, he says, lowering barriers to bankruptcy, as long as they don't encourage excessive consumer borrowing, would be a win-win.
Past research into the motivations for bankruptcy has focused on two areasthe role of short-sighted behavior (a shopping spree) and unanticipated events (a 2010 study by Dr. Gross found that approximately 26% of bankruptcies are driven by medical costs). The new paper may be the first to look at how new filings are affected by high filing costs combined with low cash. This "liquidity constraints" approach, he says, can also be used to study other social benefits like disability and unemployment insurance.
"This research provides a valuable look at the causes and consequences of bankruptcy for families as they make decisions that affect their health and financial security," says Michael Sparer, chair of Health Policy and Management at the Mailman School.
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About Columbia University's Mailman School of Public Health
Founded in 1922 as one of the first three public health academies in the nation, Columbia University's Mailman School of Public Health pursues an agenda of research, education, and service to address the critical and complex public health issues affecting New Yorkers, the nation and the world. The Mailman School is the third largest recipient of NIH grants among schools of public health. Its 300 multi-disciplinary faculty members work in more than 100 countries around the world, addressing such issues as infectious and chronic diseases, environmental health, maternal and child health, health policy, climate change & health, and public health preparedness. It is a leader in public health education with over 1,000 graduate students from more than 40 nations pursuing a variety of master's and doctoral degree programs. The Mailman School is also home to numerous world-renowned research centers including the International Center for AIDS Care and Treatment Programs (ICAP), the National Center for Disaster Preparedness and the Center for Infection and Immunity. For more information, please visit www.mailman.columbia.edu
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The Modern Media Agency Series is supported by IDG. The digital/interactive industry remains the fastest growing advertising segment. Smartphone use is exploding and social, mobile, and video marketing are heating up. With an estimated 100 different media platforms to choose from, marketers can be overwhelmed. IDG Communications CEO Bob Carrigan highlights global trends and issues to consider for 2012. Read more here
It?s no secret that the holidays are prime time for retail businesses. And with the rise in popularity of shopping holidays Black Friday and Cyber Monday, consumers are eager and motivated to snap up the best deals they can for their friends and loved ones. But this environment overlooks a key group involved in commerce: the small business.
Credit card company American Express saw that holiday shopping underserved the small business community as big-box stores and online retailers with muscle had the upper-hand in community attention during the holidays. That?s why in 2010, the company founded Small Business Saturday? a shopping holiday held on the last saturday in November that motivates customers to patronize their local mom-and-pops.
?The thought was, let?s give small businesses a day of their own during the most critical time of the year,? says Scott Krugman, spokesperson for American Express. ?It?s our way to support small businesses.?
Mashable spoke with Krugman about the marketing strategy American Express used ? with the aid of digital media companies Crispin Porter + Bogusky and Digitas ? to motivate both small business owners and potential consumers to participate in the holiday and the results of their hard work.
What do you think about the Small Business Saturday campaign? Let us know in the comments.
Strategy for Small Business and Beyond
The campaign to promote Small Business Saturday is inherently two-fold: American Express offers small business tools and DIY promotional material (through their OPEN program) and incentives for customers looking to shop local. These messages were presented in tandem on Small Business Saturday?s Facebook Page and @ShopSmall Twitter account. Small businesses were also encouraged to sign up for free Facebook advertising of their brands, paid for in full by American Express.
?This is what makes Small Business Saturday so unique. Even though it?s something that was created by American Express, it wasn?t about American Express,? Krugman explains. ?We really wanted to help small businesses in getting their brand on social media.?
But the motivation didn?t stop at online tools and message. Krugman says that the company brought the campaign into the real world by offering a $25 statement credit for anyone who registered a card and spent $25 at a local store during Small Business Saturday. Krugman adds that the perks didn?t stop with American Express customers ? those without an AmEx card could apply for a $25 gift card for the shopping holiday as well.
?We wanted consumers to recognize the real tangible benefits of having small businesses in their community,? Krugman says. ?Hundreds of thousands of consumers did that.?
Also, the company didn?t have to promote the holiday on their own. Companies like FedEx and Google chipped in their resources, offering their own gift cards and campaigns to help make Small Business Saturday a success. Krugman explains that the concept was so popular that even American politicians began promoting the holiday to their constituents in an effort to jumpstart their own local small business economies. To top it off, President Barack Obama got in on the act, posting tweets with the #smallbusinesssaturday hashtag. He adds that the campaign went beyond a simple promotional one and into a movement to motivate citizens to spend some cash on Main street.
?This is an opportunity for consumers to pledge their support to small businesses and find local small businesses and offers,? Krugman says, ?And, to promote this to other folks as well.?
Results
The marketing campaign was a resounding success for American Express. The company indicated in a press release that more than 2.7 million people ?Liked? the program?s Facebook page and nearly 195,000 tweets were sent in support of Small Business Saturday throughout the month of November. There were gains in overall awareness of the holiday as well, rocketing from 37% in 2010 (its inaugural year) to 65% in 2011.
?Small Business Saturday was able to transcend beyond American Express,? Krugman says.
But what about the holiday itself? Did the campaign get people to spend (and keep spending) on Main Street?
An estimated 103 million Americans shopped at a small business on 2011?s Small Business Saturday ? November 26 ? and American Express saw a 23% increase in transactions at small business merchants. Krugman says that the anecdotal feedback the company got from local business owners jived with these estimates ? and some even had great success.
?In reading from testimonials and hearing merchants say, ?Because of Small Business Saturday, my year-over-year sales were 40% higher,?? Krugman says, ?That?s so great.?
The Future
Krugman says that for all the success that Small Business Saturday experienced in the second year of its operation, the program itself is still in relative infancy. But, he adds that he?s looking forward to watching it grow and keep momentum all year long.
?As great as year one and year two have been,? says Krugman, ?we?re incredibly excited for where this is going to take small businesses.?
Series supported by IDG
The Modern Media Agency Series is supported by IDG. The Digital/Interactive Industry is Surging! The digital/interactive industry remains the fastest growing advertising segment. According to an IDG Research study, tech marketers expect to spend 50% on digital alone. Smartphone use is exploding and social, mobile, and video marketing are heating up. With an estimated 100 different media platforms to choose from, marketers can be overwhelmed. IDG Communications CEO Bob Carrigan highlights global trends and issues to consider for 2012. Read more here.