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Tuesday
Jul222014

McDonald's, Coca-Cola Revenue Comes Up Short

McDonald's(NEW YORK) -- McDonald’s and Coca-Cola both missed analysts estimates this quarter, with McDonald’s posting a one-percent drop in profits while Coke saw a nearly three-percent decline in revenues.

The fast-food and soda maker stood in contrast with Chipotle, which posted a 25% bump in revenues Monday after the bell. The chain restaurant reported sales up 17 percent from last year.

Domino’s reported an 8.8 percent boost in revenue and 15.6 percent increase in net revenue.


Copyright 2014 ABC News Radio

Tuesday
Jul222014

Achieving Diversity in the Workplace Can Hurt the Achievers

Steve Hix/Somos Images/Fuse/Thinkstock(BOULDER, Colo.) -- It's obviously good to value diversity in the workplace, but there are times when it can backfire.

Specifically, a University of Colorado study says that women and minorities in executive positions who believe that things will be better with more women and minorities at their job often wind up making things worse for themselves.

For example, women who promote other women are viewed as less warm, while non-white executives seeking to hire more minority candidates are seen as less competent.

These opinions usually turn up in their performance reviews. 

On the other hand, male white executives who try to foster more diversity are often lauded for their efforts in their reviews.

David Hekman, one of the study's authors, maintains that self-interest plays a role in this disparity, concluding, "People are perceived as selfish when they advocate for someone who looks like them, unless they’re a white man."

Hekman suggests that there are a number of ways to level the playing field, such as using the term "demographic-unselfishness" rather than "diversity."


Copyright 2014 ABC News Radio

Monday
Jul212014

Five Ways to Spot a Home Flip Money Pit

iStock/Thinkstock(NEW YORK) -- Just a few weeks after Eric Mann bought a Brooklyn brownstone for $1.2 million in February -- and painted the walls, sanded the floors, and added a $300 chandelier -- he sold it for $2.1 million.

"I was extremely lucky," said Mann, who said he'd bought about 40 properties across Brooklyn over the years as a real estate investor.

That's the wild world of house flipping, which is up 16% since last year and 114% from the previous year, according to real estate data-supplier RealtyTrac.

Ericka Doolittle said thought she was getting the deal of a lifetime as well when she purchased a newly renovated home in Oakland, California.

"On the surface, it looked pretty good," she told ABC News.

Then she discovered something her inspector had cautioned her about: more than $15,000 in hidden costs, from loose wires to sewer leaks.

A year after buying, Doolittle found two feet of water under debris in the basement.

"There was a veritable lake," she said. "[And] a lot of flooding issues. There was water under the house."

"What flippers are particularly good at is to make surface repairs -- and not handling the structural repairs that are sometimes needed," said New York real estate guru Barbara Corcoran who appears on ABC's Shark Tank.

Jennifer and Steve Clark of The Home Co., a husband-and-wife team of flippers, shared the following insider secrets to spotting a potentially bad flip:

1. In the utility rooms, make sure the dryer and heater are vented out of the house.

2. Measure the height of the electrical sockets. Steve Clark said they should be about 12 inches off the floor — anything else could be a sign of old electrical wiring.

3. Switches should be on the wall, not set into the molding.

4. If the owner says the house comes with new appliances, ask to see the manuals.

5. In the bathrooms, separate hot and cold knobs in the shower may mean old fixtures were replaced but not the old plumbing.

The Clarks advised to always get a thorough inspection before buying and remember that if it sounds too good to be true, it probably is.


ABC News | ABC Sports News


Copyright 2014 ABC News Radio

Monday
Jul212014

Members of Congress Plan to Live on Minimum Wage for a Week

Architect of the Capitol(WASHINGTON) -- A trio of Democratic politicians are about to find out what it's like to be poor.

Former Ohio Gov. Ted Strickland, Rep. Jan Schkowsky, D-Ill., and Rep. Tim Ryan, D-Ohio, announced Monday that they plan to "step into the shoes of a minimum wage worker and live for one week on just $77."

It's part of the Live the Wage Challenge starting Thursday— marking the fifth anniversary since Congress last increased the nation's minimum wage.

From July 24 to July 30, the three politicians will chronicle their experiences on social media in an effort to shed light on the challenges facing minimum wage workers across the country.

A minimum wage of $10.10 pegged to cost-of-living increases would provide Americans who "work hard and play by the rules" a chance at joining the middle class, Ryan said during a call with reporters.

Strickland echoed the congressman's sentiments, saying that full-time workers should not have to "live in poverty or have to choose between food and electricity every month."

The federal minimum wage in the United States is currently set at $7.25 an hour — and has not been increased by Congress since 2009. The federal minimum wage for tipped workers has remained at $2.13 an hour since 1991.

According to a statement on its website, "the Live the Wage Challenge has called on elected officials, community leaders, advocates and anyone concerned about the growing inequality in this country to walk in the shoes of a minimum wage worker by living on a minimum wage budget for one week."


Copyright 2014 ABC News Radio

Monday
Jul212014

Netflix Shares Rise as It Gains Subscribers

iStock/Thinkstock(NEW YORK) -- Investors kicked off a new trading week with mixed results, as investors kept one eye on the tensions between Russia and the West over the downed Malasia Airlines flight in Ukraine and one eye on corporate earnings.

Netflix shares rose despite quarterly earnings that failed to meet analysts estimates. The streaming service added nearly 1.7 million subscribers globally in the second quarter.

The Dow Jones Industrial Average fell more than 48 points, closing at 17,051.73. The Nasdaq declined more than 7 points, ending the day at 4,424.70, while the S&P 500 lost more than 4 points, closing at 1,973.63.


Copyright 2014 ABC News Radio

Monday
Jul212014

Mobile Home Apartment Building Comes to NYC

iStock/Thinkstock(NEW YORK) -- New York City is getting its first mobile-home apartment building.

Called "The Stack," this new residential building has 28 apartments formed by 59 modules, creating a collection of individual mobile homes piled on top of each other. 

The seven-story apartment building is on the northern tip of Manhattan and is built out of prefabricated rooms-- between 625 and 750 square-feet each.

Like mobile homes nationwide, these came to their destination on the back of a truck and got hoisted into place.

Rents start at $1,600 per month for a studio and $3,700 per month for a three-bedroom. 


Copyright 2014 ABC News Radio

Monday
Jul212014

Casinos Closing in Atlantic City

iStock/Thinkstock(ATLANTIC CITY, N.J.) -- After 36 years of casino gambling in New Jersey, the industry is crashing.

Atlantic City, which once had a monopoly on East Coast gambling, is losing some of its 12 casinos.

The Atlantic Club, Trump Plaza, and the Showboat plan to fold this year, and the Revel could join them.

Despite the quick collapse, Atlantic City is gambling on new nightclubs, malls, concerts, and conventions as part of a five-year turn-around plan.

Analysts say Connecticut, Mississippi, and Pennsylvania may also be at risk because of increasing competition.


Copyright 2014 ABC News Radio

Monday
Jul212014

Sony's Walkman Returns with ZX1

David Becker/Getty Images(NEW YORK) -- In 1979, long before the iPod, Sony brought the world portable music in the form of the first Walkman. Now, the Walkman has returned -- and it's called the ZX1.

Compared to an iPod, it's heavy, bulky and no bargain. The new device costs $700 and is aimed at buyers who will pay the price for better sound.

The compression used by the iPod to squeeze thousands of songs on the device sacrifices sound quality.

Sony claims the ZX1 plays ultra high quality audio -- as good as listening directly to a CD. The company thinks at least some music fans will pay the price.


Copyright 2014 ABC News Radio

Monday
Jul212014

New Toyota Feature Will Help Parents Bark at Kids in Back Seats

Justin Sullivan/Getty Images(NEW YORK) -- Toyota is offering frustrated parents a helping hand in keeping their kids quiet on road trips.

A feature available on the automaker's new Sienna minivan called "Driver Easy Speak" will make it easier for parents to bark at their kids.

According to Toyota, "Driver Easy Speak utilizes the vehicle's built-in microphone to amplify the driver's voice through the rear speakers" -- thus, cutting back on the need to shout at the top of your lungs so passengers in the back can hear you.

The feature only works one way, so the voices of passengers in the back seat won't be amplified -- at least not through the microphone.


Copyright 2014 ABC News Radio

Monday
Jul212014

RJ Reynolds to Appeal Verdict to Pay $23B to Cancer Victim's Widow

iStock/Thinkstock(NEW YORK) -- R.J. Reynolds Tobacco is fighting back against an order to pay billions to a widow of a former smoker who passed away 18 years ago from lung cancer.

The country’s second-largest cigarette maker says it will appeal last Friday’s jury verdict ordering the company to pay $23.6 billion in punitive damages.

The verdict came just days after Reynolds’ parent company, Reynolds American Inc., announced it was purchasing Lorillard, the maker of Newport cigarettes, for $27.4 billion.

A lawyer for the plaintiff stated that big tobacco “cannot continue to lie to the American people” with regard to the addictiveness of cigarettes.

J. Jeffrey Raborn, an executive for Reynolds, called the verdict “grossly excessive and impermissible under state and constitutional law.”


Copyright 2014 ABC News Radio