14 Nov

Richard Davis and Trademark Properties win Flip This House lawsuit against A&E

The 2006 lawsuit against A&E by Richard Davis and Trademark Properties of the “Flip This House” reality show has concluded with a jury verdict. After five hours of deliberation, the jury awarded Davis $4 million.

David alleged that he and A&E had a verbal agreement to split all revenue from Flip This House 50/50. After the conclusion of one season, A&E denied that they had a verbal agreement. Davis and his crew refused to film any further shows. A&E found crappy replacements, and Davis took the show to TLC, calling it “The Real Estate Pros.”

Of course, A&E is saying they’ll appeal.

10 Nov

Credit card company bailout next?

Earlier today I wrote an article on WalletPop.com about the ever-growing bailouts being handed out by the federal government. Specifically, I’m a little ticked off by the AIG bailout, which was at $85 million about a month ago, and now sits at $150 billion. (Yes, that’s almost double.)

I suggested that the insurance industry and credit card companies would soon be asking for bailouts of their own.

But news late this afternoon may mean that the credit card companies don’t have to ask for bailouts after all! All they have to do is pretend to be banks! The Wall Street Journal reports that American Express (yes, the credit card company) has gotten approval from the Federal Reserve to become a bank holding company. That means they have immediate access to the $700 billion TARP (bailout) program.

Last week AmEx reported quarterly profits were down, and they were trimming about 10% of their employees (7,000 of them). The company also reported a $1.4 billion charge for credit losses, with larger charges expected in the next two quarters.

Plan on seeing Visa, MasterCard, and Discover asking to be pretend banks too. They’d be fools not to try it and have a chance at getting their hands on some federal money.

10 Nov

ShopToEarn: Don’t talk about actual money!

ShopToEarn and ShopToEarth recently communicated the following to its members:

Talk about how many times you’ve SCORED! and not about how much you’ve earned!

Based on advice from Counsel, it is very important that we focus on how many times we’ve SCORED! as opposed to the money that thousands are earning. Please make sure those doing Overviews in a public forum are aware of this. Staying consistent with talking about the times we’ve SCORED! and the many lifestyle enhancements as opposed to the money thousands are earning. This will have a greater impact on our business as time will surely tell!. This will protect the long term viability of the Company. Read More