Tickers: August 10
Meredith Corp. introduced an updated market positioning and logo today to represent its multi-platform consumer brands; its print, broadcast and digital media properties; and its marketing capabilities. “This updated positioning and logo better reflect our ability to engage consumers and marketers in meaningful and mutually beneficial dialogues across multiple platforms,” Meredith President and CEO Steve Lacy said in a news release. Meredith will refer to its publishing and related interactive properties as National Media Brands. Meredith’s broadcasting properties will be called Local Media Brands. Meredith’s cross-platform and custom marketing capabilities – including Meredith Integrated Marketing, Meredith 360 and Meredith Video Solutions – will be presented under the Marketing Solutions banner.
A new certificate in business management program at Drake University offers managers an opportunity to update and upgrade their education. The program covers topics such as effective leadership, business in the world economy and strategic decision-making. Participants will meet Friday afternoons on the Drake campus from Sept. 18 to Oct. 30. Faculty who teach in Drake’s M.B.A. program will teach all sessions. Seating is limited and registration is on a first-come, first-served basis. For more information, visit www.cbpa.drake.edu/cps or call the Drake Center for Professional Studies at 271-2592.
The worst U.S. recession since the Great Depression will probably end in the third quarter, but there is uncertainty over the speed and duration of the economic recovery, according to the most recent survey of private economists, Reuters and CNBC reported. The Blue Chip Economic Indicators survey of private economists released today showed that about 90 percent of the respondents believe the economic downturn will be declared to have ended this quarter. That assessment followed recent government data showing gross domestic product (GDP) contracted at a shallow 1 percent rate in the second quarter after sinking 6.4 percent in the January-March quarter. Recent data, including housing and key labor market indicators, have suggested a bottoming in the recession and that the economy is close to turning the corner.
U.S. banks are poised to make $38.5 billion in customer overdraft fees this year, the Financial Times said, citing research by Moebs Services. A large portion of the revenue is likely to come from the most financially stretched consumers, according to the paper. It said the research showed that many banks have increased charges on overdrafts and credit cards in order to boost profits. The median bank overdraft fee rose this year by $1 to $26, the paper said, citing the Moebs data. “Banks are returning to a fee-driven model and overdraft fees are the mother lode,” Mike Moebs, the company’s founder, was quoted by the paper as saying. Overdraft fees accounted for more than 75 percent of service fees charged on customer deposits, the paper cited Moebs as saying. The Financial Times story was carried by Reuters and reported by CNBC.