The justices sided with big corporations Thursday when they ruled 5-3 that companies can write contracts that force small businesses to challenge monopolistic practices on an unaffordable individual arbitration basis rather than through class-action lawsuits, effectively killing the ability of small businesses to defend themselves in court against larger predatory ones.
Consumer borrowing shot up $15.5 billion in June—three times more than projected—in the biggest increase in credit in four years, with credit card and other types of revolving debt rising by $5.21 billion—the largest jump since spring of 2008. (more)
Those credit card holders who pride themselves on paying their bills on time, and who have enjoyed rewards in the past for so doing, are in for an unpleasant surprise: They may soon be targeted by the very companies that used to ply them with perks.
The McCain-Palin campaign team might soon borrow a page from the celebrity crisis management handbook (see Chap. 11: Poke Fun at Yourself on a Late-Night Comedy Show), if the rumor that Sarah Palin is considering an appearance alongside her “Saturday Night Live” doppelgänger Tina Fey comes true before the Nov. 4 election.