Money Minute: Survey Shows Americans Still Love Bargains


Despite the improving economy, Americans are still hunting for bargains.

A study by Consumer Reports finds that most of us love a good deal. In fact, more than a third of those surveyed feel guilty when they pay full price. Nearly 60 percent wait for a sale to buy what they want. And 23 percent say they buy things that are on sale, even they don't need them.

There's no bargain here, but if Donald Sterling is forced to sell the Los Angeles Clippers basketball team, all sorts of very rich people are expressing interest in buying it. Oracle (ORCL) chief executive Larry Ellison -- the third wealthiest American -- is teaming up with Oprah Winfrey and entertainment mogul David Geffen. Basketball Hall of Famer Magic Johnson is part of an ownership group that paid $2 billion for the Los Angeles Dodgers in 2012 -- and he's expressed interest in becoming a team owner in the NBA. So are boxing legends Floyd Merriweather Jr. and Oscar De La Hoya. By some estimates, the team could be worth as much as $1 billion, and the stars are coming out.

AT&T (T) is no longer your grandmother's Ma Bell. The telecom giant has reportedly held talks about buying satellite-TV provider DirecTV (DTV). A deal could be worth more than $40 billion, and it would make AT&T a close second in the pay TV business to the planned tie up of Comcast (CMCSA) and Time Warner Cable (TWC).

Here on Wall Street, the Dow Jones industrial average (^DJI) gained 45 points Wednesday, to close at its first record high this year. The Standard & Poor's 500 index (^GPSC) added 5, and the Nasdaq composite (^IXIC) rose 11 points.

After tumbling in January, the Dow has jumped 900 points over the past three months.

Finally, in one of the first fallouts from the Western sanctions against Russia, a U.S. court has temporarily blocked Boeing and Lockheed Martin from dealing with a Russian supplier of rocket engines. The company is run by one of the individuals targeted by the Obama Administration.

-Produced by Drew Trachtenberg.

Increase your money and finance knowledge from home

Introduction to Preferred Shares

Learn the difference between preferred and common shares.

View Course »

Bonds for Beginners

Learn about fixed income investments.

View Course »