Student Financial Services of Clearwater, Florida, a student lender that paid students for referring other students for loans and paid universities to use their information, has come under investigation for marketing tactics by FL attorney general Andrew M. Cuomo, reports The New York Times. “The universities sell ‘the identification with a team or a logo or a mascot,' Mr. Cuomo said Tuesday at a news conference in New York. ‘The school mascot becomes a wolf in sheep's clothing.'”
The lender must adopt the attorney general's new code of conduct on direct marketing, a change that, according to The St. Petersburg Times, bars it from "co-branding" student loans with school names and insignias. The lender also agreed to end lending-related agreements with five sports marketing firms, launch a print ad campaign on student lending practices at all 63 schools [where it operates], and disclose all loan terms in future student deals.
The extent to which Rupert Murdoch has moved into the Wall Street Journal has many fooled into thinking that his purchase from Dow Jones has been finalized. This could be one reason, according to a report by nymag.com, that the WSJ editorial staff was left to celebrate the holiday in a conference room, uninvited to the News Corp's holiday party. A WSJer countered the report's confused attitude by explaining that the old regime decided long ago to give the money that would be spent [on the party] to charity.
China has stopped granting permission for theatres to show American films, a supposed retaliation in a trade dispute with the US.
Silicon Alley Insider highlights a much needed Web strategy on part of CNBC in order for a successful Yahoo/CNBC distribution deal outcome.
In an effort to expand its online reach, Marc H. Bell, CEO of Penthouse Media Group, bought the owner of various social-networking sites, including AdultFriendFinder.com, for $500 million in cash and securities.