The week that was: Real price of a traffic ticket

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The real price of a traffic ticket

You know the face value of that traffic ticket you got last weekend, but the website insurance.com lets people know just how hard that ticket will land on their auto insurance premium. The site's "Uh-Oh! Calculator" for common violations shows one of the biggest hikes is for reckless driving, which on average means a 22 percent increase. That's followed by a first offense for driving under the influence, which could result in a 19 percent increase. At the lower end, you can also expect a near-3 percent increase for a seatbelt violation.

Billion-dollar blogging

Promising "not to screw it up," Yahoo CEO Marissa Mayer announced her company has bought the blogging service Tumblr for an estimated $1.1 billion in a move seen as an attempt to make the Web pioneer more appealing to younger audiences. Tumblr founder David Karp, 26, will remain CEO of the online company that features more than 108 million blogs and will continue to operate independently.

Apple avoiding tax bite

A congressional inquiry found that Apple was able to avoid an estimated $74 billion in taxes between 2009 and 2012 by setting up a network of subsidiaries around the world, some of which had no employees. Apple CEO Timothy Cook said the company pays "all the taxes we owe" and the report did not accuse Apple of acting illegally. But a University of Southern California law professor commented, "There is a technical term economists like to use for behavior like this -- unbelievable chutzpah."

Homeowners still waiting

Banks that had dealt borrowers unaffordable mortgages or assigned higher interest rates to minorities have been slow to repay the $5.7 billion owed under settlements reached with the government since 2008, the Washington Post reported. Wells Fargo, for example, in 2011 agreed to compensate up to 10,000 borrowers -- but none have received their money, the report said.

Cost of a student loan

A survey of private student loan borrowers found their median debt was between $25,000 and $35,000, and nearly all said they had federal student loan debt, too, forcing many to borrow money from family and friends while putting off big-ticket items such as buying a house. About 40 percent said they were earning less than $25,000 a year, but many are working two and three jobs to stay current on their payments. For the full story, go to www.post-gazette.com/businessnews.

Paying upfront for a chance to gamble

Nemacolin Woodlands Resort's Lady Luck Casino, due to open in July, will have a $10 cover charge for interested gamblers who are not staying overnight, attending an event at the resort or making purchases such as gift cards or a round of golf.

businessnews

Steve Twedt: stwedt@post-gazette.com or 412-263-1963.


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