Skip to primary navigation Skip to main content

Avoiding fees. Changing names. Playing ball.

  Business-related news from Page One and Business Today:

- Bank fees overdraw welcome - Jonathan D. Epstein/The Buffalo News
   The days of paying a $35 overdraft fee on a $2 cup of coffee could be over.
   Under new
federal rules, consumers who overdraw their accounts using debit cards at an ATM or merchant won't get socked with fees unless they have "opted in" for the overdraft coverage. But their transactions with insufficient funds will be rejected. ...
   About 82 percent of bank customers haven't overdrawn in the last 12 months, while the rest do it more frequently and account for most of the fees.
   "Those folks used that as a financial planning tool," said Jim Holding, marketing director for Northwest Bancshares, parent of
Northwest Savings Bank. "They use that as part of their day-to-day financial working."
   [Appropriate pop culture reference below.]

- Phaseout is set for Colgan Air name - Phil Fairbanks/The Buffalo News
   The name Colgan Air, synonymous with the crash of Continental Connection Flight 3407 in Clarence Colginair Center, is going away.
   No one will comment on when the Colgan name will be phased out, but the airline’s parent, Pinnacle Airlines, confirmed that the name will eventually disappear.
   “Over time, our intent is to phase out the Colgan name as we reorganize into two operating airlines,” Pinnacle spokesman Joe Williams said in a statement.
   Pinnacle’s confirmation that the Colgan name is being phased out came just days after it announced its $62 million purchase of Mesaba Airlines, a regional carrier owned by Delta Air Lines.
   Pinnacle did not offer a timetable on when the name change would occur. Colgan, which flies under the name Continental Connection, operated the plane that crashed in Clarence Center in February 2009, killing 50 people. Continental subcontracted the Newark-to-Buffalo route to Colgan.

- Baidu chief boosts China - John Boudreau/San Jose Mercury News/Buffalo News
   The head of China’s biggest online success story, who is a University at Buffalo graduate, has some advice for U.S. companies hoping to break into the world’s largest Internet market: You’d better hurry, and you’d better be willing to work with the government.

   In a wide-ranging interview with the Mercury News, his first with an American newspaper since Google’s clash with Chinese officials over censorship, Robin Yanhong Li, co-founder and CEO of Baidu, China’s leading search engine, talked about the challenges companies face as they try to crack China’s market.
   His message to foreign Internet companies is they’d better move quickly to get into China’s fast-changing market of 400 million users.
   Related:
- China Is Still Reviewing Google's License - The Wall Street Journal
- Google, China govt. censorship spat seen benefiting Baidu - The International Business Times
- Apple Making New Push Into China - The New York Times
- How Facebook will take over the world - Jemima Kiss/The Guardian
   Interestingly China appears a no-go area, with Google's problems and eventual withdrawal, the current block on Facebook and the dominance of domestic sites like RenRen, 51 and Kaixin001 presenting too much of a challenge at this stage.

   The Clash takes it to the bank:
 

-- George Pyle/The Buffalo News

tagged

Banks | Current Affairs | Media | The Economy | Transportation | Travel | Web/Tech
comments powered by Disqus