Apple introduces iWork to compete against Microsoft Office
At an event meant to highlight the latest iPad tablets, Apple also introduced software for tasks like word processing and spreadsheets. The New York Times reports that Apple iWork essentially duplicates what Microsoft Office offers for free on any Apple computer or mobile device. Apple also introduced an upgraded iPad Mini and renamed its larger iPad the iPad Air due to a lighter more streamlined design.
Men’s Wearhouse to purchase shoemaker
Men’s Wearhouse is pursuing a possible purchase of dress-shore make Allen Edmonds Corp., according to the Wall Street Journal. The deal could complicate Jos. A Bank’s unsolicited and rejected bid to purchase Men’s Wearhouse. The shoemaker is closely held and anticipated to cost in the low hundreds of millions. Allen Edmonds shoes are known for being worn by multiple Presidents, including George H.W. Bush, George Bush, Ronald Reagan and Bill Clinton. Earlier this month, Jos. A Bank offered $48 per share for Men’s Wearhouse. The shares currently trade below the offer price, making the ability for Jos. A Bank’s to obtain financing for a deal unlikely.
Caterpillar earnings tumble
Caterpillar’s third quarter earnings tumbled 44 percent because of weaker mining equipment sales. According to the Associated Press, the company earned $945 million, or $1.45 per share, compared to $1.7 billion or $2.54 a year ago. Revenue fell 18 percent.
Judge halts sale of Boston Globe to Red Sox owner
A judge’s order has halted the proposed sale of the Boston Globe to Red Sox owner, John Henry. USA Today reports that the order was requested as part of a lawsuit by former adult carriers of Telegram & Gazette of Worcester, which is part of the New England Media Group being purchased by Henry from the New York Times Co. for $70 million. The lawsuit alleges that the carriers were employees of the paper in 2009, but were misclassified as independent contractors, which made them ineligible for deserved benefits.
US 2014 tax-filing season delayed…for government not taxpayers
The start of the 2014 tax-filing season will be postponed by a week or two next year, the IRS announced on Tuesday, delaying some tax refunds. CNBC reports that the 16-day government shutdown is the cause and the new tax season will begin on either January 28 or February 4, rather than January 21. The last day tax returns can be filed will remain April 15. The government shutdown allegedly occurred at a critical period for preparing the computer systems for 2014. This is the second year in a row in which the IRS delayed the tax season. An estimated 18 million taxpayers typically file tax returns in January. Usually these are low-income filers who are awaiting a refund.
Most popular car color
What is the most popular car color in the world for 2013? According to USA Today, the color is white. One in four new car buyers choose white, and that is up 3 percent from a year ago. Silver and black tied for second at 18 percent. Some Americans, however, are showing a daring streak with the popularity of red and blue, especially on sporty models, becoming more popular. In South America, silver is the most popular color. Manufacturers indicate that a variety of white colors continue to be developed.
Catherine S. McBreen is President of Millionaire Corner. McBreen plans and develops content for Millionaire Corner. Catherine balances editorial content to meet the informational needs of both new and seasoned investors. She designs special monthly surveys on topical issues affecting the economic environment.
McBreen has a B.S. in speech communications from Northwestern University and a J.D. from DePail University College of Law. She is a member of the American Bar Association, the Illinois Bar Association, and the Chicago Bar Association.
Well-known for her expertise in the affluent and retirement arenas, McBreen is a frequent speaker at industry conferences. She has been quoted widely by the financial media, including The Financial Times, The Wall Street Journal, Research, Private Asset Management, On Wall Street, Reuters, Bloomberg News, The Dow Jones Newswires and Worth. Cathy has appeared as a guest on CNBC Closing Bell, First Business Morning News, Neal Cavuto at Fox Business News, ABC and CBS radio.
McBreen is co-author with Spectrem President George H. Walper, Jr. of the book "Get Rich, Stay Rich, Pass It On: The Wealth-Accumulation Secrets of America's Richest Families" (Portfolio, January 2008)
Catherine is the mother of four and is involved in many school and community events.