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Paychecks go plastic.(Up front: news / trends / advice)(payroll cards)
A growing number of wage earners--mainly teenagers, low-income, part-time, or temporary workers--are being paid with a debit or ATM card known as the payroll card. It's supposed to be a convenience for people who don't have a bank account. In reality, it is a very expensive way to collect wages.
A payroll card looks like a credit card and often carries a Visa or MasterCard logo. The employer deposits money in an account linked to the card. The employee can then use the card for ATM withdrawals or purchases.
(A similar product, the prepaid card, lets individuals load cash onto the card or transfer funds directly from their payroll to the card. One of the most visible prepaid cards, with obvious appeal to young adults, is the Rush Card promoted by hip-hop music impresario Russell Simmons.)
Introduced in the late 1990s, payroll cards are now used by more than a million people, according to Celent Communications, a Boston-based financial research group. That number is expected to grow to some 3.5 million people by 2006. McDonald's, Blockbuster, and Sears are among the companies using it. Coca-Cola announced last February that it would market a payroll card to ...
- Comptroller sees $7.5 billion of bond sales by New York, New York City,...
- Magazine article from: The Bond Buyer Gasparino, Charles April 7, 1993 700+ words
...its bonding authorities, and New York City of about $4.52 billion. The...Other large offerings planned by New York City include an $800 million general...GO bond offering in June. The New York City Water Finance Authority, meanwhile...
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- Magazine article from: The Bond Buyer Gasparino, Charles King, Sharon R. October 19, 1993 700+ words
The unemployment rate for New York City fell to a seasonally adjusted...achieved in the mid-1980s. New York City's four professional sports teams...activity generated by games played in New York City. The professional sports activities...
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New York City could lose a golden opportunity to generate...low-skilled manufacturing jobs. "New York City has already lost to New Jersey more than...be created by recycling will stay in New York City." The study says the city's Department...
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- Magazine article from: Real Estate Weekly Weiss, Lois June 9, 1993 700+ words
The New York City Council passed the J-51 measure unanimously last Wednesday in a vote of 49 to O. Two members were absent. The bill, 605A, now goes to New York City Mayor David N. Dinkins who is expected to sign it within the next two...
- New York. (New York City Comptroller, Elizabeth Holtzman's report on sludge...
- Magazine article from: The Bond Buyer Doran, John J. September 3, 1991 700+ words
In a report released last week, New York City Comptrller Elizabeth Holtzman blasted the city's proposed...192 million contract with Renewable Earth Products of New York City -- a company that plans to turn some sludge into a...
- New York. (New York City loses jobs)(Around the Nation)
- Magazine article from: The Bond Buyer Gasparino, Charles June 22, 1993 700+ words
Despite a slowly improving national economy, New York City continues to lose jobs, according to a report from...It's time to make jobs the number one issue in New York City." Holtzman said in a press release. "I urge the...
- New York. (New York City to list bonds on the New York Stock Exchange)(Around...
- Magazine article from: The Bond Buyer Gasparino, Charles June 14, 1994 700+ words
...will now list its bonds on the New York Stock Exchange. City officials say...exchange this week of their decision. New York City will join three other major issuers -- California, Connecticut, and the New York State Urban Development Corp...