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Consumer Edge Research analyst David Schick asks about the use of guarantees long-term. $BID CEO Tad Smith says that guarantees are a liability that could be used as cash. When there is inflection point in the market and when there is a lot of attractive uses for cash, the combination of these two should make it conservative on guarantees.
The latest earnings report by $VZ shows how it is losing customers despite offering the unlimited data plans, a record for the company.
$BEBE is closing down all its stores by the end of May.
$WFC agreed to hike its payout in a class-action settlement over unauthorized accounts by $32 million to $142 million for its retail sales practices. The settlement will now include customers who were impacted as early as May 2002.