Word: moneyitis
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...days when mass-market media is the sole vehicle to reach an audience are officially over. Instead of pouring millions of dollars into a Super Bowl commercial, Pepsi has started a social-media campaign to promote its "Pepsi Refresh" initiative. Pepsi plans to give away $20 million in grant money to fund projects in six categories: health, arts and culture, food and shelter, the planet, neighborhoods and education. People can go to the Pepsi website refresheverything.com - which can also be accessed through Facebook and Twitter - to both submit ideas and vote on others they find appealing. Among those...
...agency that created Pepsi's campaign. "It's seems like a contradiction to say you're going to set aside $20 million in marketing dollars for a worthy cause, then turn around and spend $12 million on two 60-second spots for the Super Bowl. Couldn't that money be put to better...
...wouldn't be the first time the German government struck such a deal. Two years ago, Germany paid an informant $6.3 million to obtain stolen bank details for several hundred members of the LGT banking group who were suspected of evading taxes by putting their money in bank accounts in Liechtenstein. That deal reportedly helped the government recover $250 million in lost revenue by the end of last year. One of the suspects, Klaus Zumwinkel, the former head of Deutsche Post, was convicted of tax evasion and received a two-year suspended prison sentence and a fine of $1.4 million...
...tremble in their designer shoes. On Tuesday, German Finance Minister Wolfgang Schaüble said the government had agreed to buy a CD from an anonymous informant that contains the stolen bank details of up to 1,500 people who are suspected of evading German taxes by stashing their money in Swiss bank accounts. The decision wasn't made easily: the deal prompted a weeklong bout of soul-searching in Germany, with critics accusing the government of playing into the hands of a common criminal. It also caused a spat with Switzerland, which has stood firmly behind its banking-secrecy...
...Switzerland was vehemently opposed to the deal. "Here we have a new form of bank robbery," Swiss lawmaker Pirmin Bischof said in an interview with Germany's Deutschlandfunk radio on Tuesday. "Before, you had to go to the bank and get hold of the money with a weapon. Today you can do it electronically by stealing data." Swiss Finance Minister Hans-Rudolf Merz went a step further, saying his country would refuse to help the German authorities on tax issues involving the stolen data. Lehner however, says this may just be bluster on Merz's part. "Under the double taxation...