Facebook's bus drivers set for raises after union vote

Anti-gentrification protesters block a bus of tech workers in December 2013.

Most of the 90 drivers who ferry workers to and from the Facebook (FB, Tech30) campus in Silicon Valley voted Saturday in favor of a contract that would boost their wages and address a major scheduling issue, according to the Teamsters.

Some would get an increase of as much as $9 per hour, though the average increase would be about $5 an hour, according to Rome Aloise, a union official who negotiated the contract with Loop Transportation, which was hired by Facebook.

The agreement must still be approved by Facebook, Aloise said.

In San Francisco, the buses used by Facebook -- and similar services used by other Silicon Valley companies -- are seen as an icon of income inequality: Well-paid tech workers boarding coaches in neighborhoods where the less well-off are struggling to keep up with skyrocketing rents.

Related: Tech workers squeezing out renters in San Francisco

The drivers, said Aloise, are currently paid on average of $17.93 an hour. Loop Transportation has previously said its typical wage is between $18 and $20.

Neither Loop Transportation nor Facebook responded to requests for comment on Sunday.

Under the new contract, base wages would increase to between $21 and $25, according to Aloise. In three years, wages would fall between $22.50 and $28.50.

The contract also addresses a scheduling concern of the drivers: split shifts.

Drivers said they work several hours for the morning commute, then return to the bus depot and sit unpaid for several hours before returning to their route for the evening commute. Some have said their schedules meant 12- or 16-hour days, though many hours were unpaid and unproductive.

In the future, drivers who work both the morning and evening commute would receive 10% shift differential pay, and those who work only mornings or evenings would be paid for at least six hours of work per day.

Related: Sex, drugs and Silicon Valley

The contract also includes health benefits, a retirement plan and workplace policies, like a grievance procedure, Aloise said.

And Facebook's drivers may not be the only ones to be covered by a union contract.

The Teamsters said drivers for Compass Transportation -- which has contracts for Apple (AAPL, Tech30), eBay (EBAY, Tech30), Yahoo (YHOO, Tech30) and games maker Zynga (ZNGA) -- will vote Friday on unionizing, the first step toward similar contract negotiations.

Cost of living: How far will my salary go in another city?

CNNMoney (New York) February 22, 2015: 3:49 PM ET

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Honda CEO steps down

Ito will be succeeded by Takahiro Hachigo, currently Honda's managing officer, the company said in a statement.

Honda (HMC) didn't say whether Ito's resignation had anything to do with the company's recent struggles -- a massive recall over faulty airbags, poor sales, and regulatory fines.

But the surprise announcement comes after Honda recalled millions of vehicles due to faulty airbags produced by another Japanese company, Takata. Other auto manufacturers, including Toyota (TM), have also had to recall vehicles due to the airbags.

Honda issued a profit warning in January, lowering its own annual net profit forecast by 5%. It was also hit last month with a $70 million fine for failing to report all the accident information required under U.S. regulatory rules.

"Going forward, changes will be coming up more and more rapidly, competition will be more severe, so I think now is a good time to change the management to a younger generation so as to revamp our whole operations," Ito said at a news conference.

Outgoing CEO Ito joined Honda in 1978, and climbed the ranks to become head of the company in June 2009. He oversaw changes to Honda's manufacturing structure around the globe, establishing new plants in developing countries such as Brazil, Indonesia and China.

Hachigo is a longtime Honda employee, first joining in 1982, as an engineer. Over the years, he has overseen Honda operations in the U.S., Europe and China.

The management changes are still subject to shareholder approval, but are expected to be effective in June after the company's annual shareholder meeting.

Honda announced Ito's resignation after markets closed in Tokyo on Monday. The shares traded down nearly 1%. The company is also listed in New York.

Related: 2014: Year of recalls

CNNMoney (Hong Kong) February 23, 2015: 10:52 AM ET

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Stocks: 4 things to know before the open

Here are the four things you need to know before the opening bell rings in New York:

1. Ready for more records? Most major European markets are jumping in early trading as investors welcome a new conditional deal that should see Greece stay in the eurozone, at least for the next four months. Germany's DAX hit a new record high.

Both the Dow Jones industrial average and S&P 500 closed at all-time highs on Friday as details of the Greek debt deal came out.

But Greece must present a list of economic reforms by the end of the day Monday for the deal to work. The list will need to be fleshed out and agreed with various institutions and creditors by April.

The euro was weaker against the dollar, and U.S. stock futures were looking soft.

2. Market movers -- HSBC, Honda: Shares in HSBC (HSBC) are dropping by about 5% in London, keeping the FTSE 100 in the red, as investors react to a sharp drop in annual profits at the global bank.

HSBC is currently under investigation by Swiss authorities as part of a new criminal inquiry into allegations of money laundering.

Watch shares in Honda (HMC) today after the Japanese automaker said its long-time CEO is being replaced in June. Shares dipped by 1% in Tokyo ahead of the announcement.

Related: Fear & Greed Index

3. Earnings and economics: Dish Network (DISH) will report earnings before the opening bell.

The National Association of Realtors will report January sales and prices of existing homes at 10 a.m. ET.

Related: America Inc warns of turbulence ahead

4. Friday market recap: The Dow Jones industrial average gained 155 points to hit a record Friday. The S&P 500 also reached a record after rising by 0.6%. The Nasdaq jumped by 0.6%.

CNNMoney (London) February 23, 2015: 7:30 AM ET

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HSBC boss hid bonuses in Swiss account

HSBC (HSBC) said CEO Stuart Gulliver opened the account in 1998, when he was based in Hong Kong. His bonuses were paid into the HSBC Suisse account -- held in the name of a company registered in Panama -- to keep the details of payments confidential.

The Guardian newspaper reported that Gulliver held around £5 million ($7.7 million) in the Geneva-based account.

Gulliver worked in Hong Kong between 1980 and 2003 and remains domiciled there.

The bank said full tax was paid in Hong Kong on the bonuses, and that Gulliver has declared his Swiss account to U.K. tax authorities for a number of years.

Related: HSBC helped conceal $100 billion in Swiss accounts

It's the latest twist in a scandal that has enveloped HSBC this month, after the International Consortium of Investigative Journalists revealed the bank helped wealthy clients evade tax via its Swiss private bank. HSBC repeated earlier apologies over the disclosures when it released its annual results on Monday.

"We deeply regret and apologize for the conduct and compliance failures highlighted which were in contravention of our own policies as well as expectations of us," HSBC said in a statement.

HSBC blamed the impact of fines, settlements and provisions for a 17% fall in net profit to $18.7 billion in 2014.

Investors were disappointed by the results, sending shares down about 6% in London trading.

The British banking giant faces a string of lawsuits and regulatory investigations into trading misconduct. HSBC is one of several firms being pursued by regulators in the U.S., U.K and Europe for rigging foreign exchange rates.

The bank took a hit of $1.2 billion related to foreign exchange investigations in 2014 after reaching settlements with U.K. and U.S. authorities.

"HSBC was badly let down by a few individuals whose actions do not reflect the vast majority of employees who uphold the values and standards expected of the bank," the bank said.

The bank's top executives took a small haircut after the disappointing year. Gulliver took home £7.6 million, down from £8 million in 2013. His bonus dropped to £3.4 million, from £5.5 million the previous year. Chairman Douglas Flint went without a bonus in 2014.

Related: HSBC offices raided over money laundering allegations

CNNMoney (London) February 23, 2015: 7:38 AM ET

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Oscar winner Patricia Arquette calls for pay equality for women

"It's our time to have wage equality once and for all, and equal rights for women in the United States of America," said Arquette, sparking enthusiastic applause and cheers from many in the audience. Television viewers saw actresses Meryl Streep and Jennifer Lopez cheering her comments.

Arquette's pay for appearing in the movie "Boyhood," for which she won the best supporting actress award, has not been revealed publicly. But some of the internal documents revealed in the recent hack of Sony (SNE) Pictures indicate that there is a page gap even in the higher ends of Hollywood.

One of the widely-reported hacked e-mails indicated that three male stars of the movie "American Hustle" -- Christian Bale, Jeremy Renner and Bradley Cooper -- were each taking home 9% of the movie's profits, while Amy Adams was only receiving 7% and Jennifer Lawrence, who had just won a best actress Oscar and was the star of the box office hit Hunger Games series, was getting only 5%.

Another report citing the hacked e-mails said that actress Charlize Theron was able to negotiate a large raise to more than $10 million after she discovered that her co-star Chris Hemsworth was to be paid significantly more than she was for the film "The Huntsman," which is due out next year.

Related: Oscars' best moments

The most recent Forbes magazine lists of best paid actors and actresses showed that only two actresses would have made the top 10 best paid actors list: Sandra Bullock, who made an estimated $51 million, and Lawrence, with $34 million.

Robert Downey Jr. was number one on the list at $75 million, while No. 2 Dwayne "The Rock" Johnson also would have topped Bullock's pay at $52 million. Lawrence would have been No. 10 if the two lists were combined, once again coming in behind Bale.

Mark Wahlberg was the 10th best paid actor earning an estimated $32 million, which tops the estimated $31 million earned by Jennifer Aniston, who was the third best paid actress.

The gender pay gap isn't something that affects only the top dollar actors and actresses in Hollywood. A report by the World Economic Forum estimated that U.S. women earn about 66% of what their male counterparts earn.

Related: The $160,000 Oscars gift bag

CNNMoney (New York) February 23, 2015: 8:16 AM ET

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Target cuts free shipping minimum to $25

Its previous free-shipping minimum was $50, which placed it in the higher end of the spectrum.

Amazon (AMZN, Tech30) offers free shipping on orders above $35, and offers free two-day delivery for customers who buy a subscription to its Amazon Prime service. Walmart (WMT) offers free shipping on orders of $50 or more.

Many retailers, including Target (TGT), temporally suspend those minimums for the holiday shopping season.

Target.com president Jason Goldberger said that the store "saw an enthusiastic response" to that offer.

The retailer already offers free shipping on most orders placed with its branded credit card.

Target also has a mobile app called Cartwheel for mobile shoppers.

Related: Target loses to Walmart in Canada

Related: Who is winning the price wars? Consumers

CNNMoney (New York) February 23, 2015: 9:16 AM ET

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Obama pushes protections for retirement accounts

It unveiled broad strokes of a proposal Monday that would hold financial advisers handling individual retirement accounts (IRAs) and 401(k)s to a higher standard than they currently are.

The change means financial advisers would be held to a so-called fiduciary standard. Translation: They would formally have to put the best interests of their clients ahead of their own interests by recommending the best product -- even if that means taking a smaller fee for their services.

The White House acknowledged that many financial advisers already do that, but it wants to extend the standard industrywide.

"[O]utdated regulations, loopholes, and fine print make it hard for working and middle class families to know who they can trust," the White House wrote.

Related: Am I investing in too many funds?

Conflicts of interest can cost investors 1 percentage point off their return each year, the White House estimated. Over time, that can add up to a lot of money.

Nationwide, the potential losses amount to $17 billion lost every year, according to President Obama's Council of Economic Advisers.

The financial industry has been wary of the proposal.

"This proposal would lead to a number of negative consequences for individual investors, including limiting investor choice, limiting investor access to education regarding retirement accounts, and increased costs for saving," said the Securities Industry and Financial Markets Association, an industry group.

Related: Will I have enough to retire?

The president is expected to speak about the proposal Monday afternoon at the Washington offices of AARP, the retirement association.

The administration said more details would be available in several weeks when the official rulemaking process begins. It first proposed expanding the fiduciary responsibility standard to a broader category of investment professionals in October 2010.

CNNMoney (New York) February 23, 2015: 9:26 AM ET

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Britain is better off in Europe, top banker says

Britain's future in the EU is a hot topic ahead of a general election in May.

Douglas Flint, chairman of HSBC (HSBC), called the possibility of the U.K. leaving the bloc "the one economic uncertainty that stands out for the bank."

Britain's future in the EU is a hot topic ahead of a general election in May. Prime Minister David Cameron has promised to hold an "In or Out" referendum on EU membership if his party wins.

Opinion polls show Brits are roughly evenly split on the question. EU membership was last tested in a popular vote in 1975, when 67% were in favor of staying in Europe.

Writing about the outlook for HSBC, Flint warned the consequences of quitting the EU could be painful.

"Working to complete the Single Market in services and reforming the EU to make it more competitive are far less risky than going it alone, given the importance of EU markets to British trade," Flint said.

Flint's remarks coincided with the release of research by the bank's U.K. economists, who concluded Britain should stay in the bloc.

"At stake is the UK's relationship with its largest trading partner, the future growth of the City as a financial hub and the ability of people to move freely between the U.K. and EU countries," they wrote.

Related: HSBC boss hid bonuses in Swiss account

Pro-Europeans say Britain risks cutting itself off from a single market of 450 million people, and jeopardizing London's position as the financial capital of Europe.

Flint is not the only high-profile financier to warn of the dangers. Goldman Sachs (GS) executive Michael Sherwood says European banks would leave London "in very short order" if Britain voted to walk away.

Even some of those who have chosen to stay out of the EU, such as Norway, say Britain would be disadvantaged.

Norway is not part of the EU, but belongs to the European single market -- meaning it follows EU rules in order to be able to trade freely with the rest of the bloc. It is often held up as a model by British anti-EU campaigners.

But Norway's minister for Europe told a newspaper on Sunday that Britain would lose influence in the world. Vidar Helgesen told the Observer that the arrangement is often frustrating as Norway doesn't have the right to vote on issues that impact it.

Related: Why 2015 could be the year Europe starts to unravel

CNNMoney (London) February 23, 2015: 10:30 AM ET

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Disney raises theme park ticket prices, again

A one-day ticket to the Walt Disney World Resort's flagship theme park, the Magic Kingdom, now costs $105, up from $99. Prices had been jacked up by $4 just last year.

The price of admission applies to anyone 10 years and older entering the Orlando-area theme park. Younger children, aged 3 to 9, pay $99.

Prices also increased for the other Disney World theme parks -- EPCOT, the Animal Kingdom Park and Hollywood Studios -- to $97 for visitors aged 10 and older, compared to $94 last year.

Related video: Five stunning stats about Disney

The price hikes seem to be working for parent company Walt Disney World Resorts, which reported a 7% increase in revenue year-over-year, largely from its parks.

Ticket prices to Walt Disney's Magic Kingdom rose again, breaking the $105 mark.

"Increased guest spending was primarily due to higher average ticket prices for admissions at our theme parks," Walt Disney Company (DIS) said in a financial report.

Many visitors tend to buy the multi-day passes, which can knock the price down to $96 per day for a two-day ticket, or $63 per day for a five-day ticket.

Related: Disney names potential successor to CEO Iger

CNNMoney (New York) February 23, 2015: 10:46 AM ET

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Bill O'Reilly has 'full support' from Fox News chief

A spokeswoman said network executives are in Bill O'Reilly's corner, in a statement to several media outlets.

"Fox News Chairman and C.E.O. Roger Ailes and all senior management are in full support of Bill O'Reilly," the spokeswoman said.

Fox News did not respond to CNNMoney's requests for comment.

O'Reilly, the top rated host in cable news, has been forced to defend himself since Thursday, when a report from Mother Jones cast doubt on claims he has made about his time covering the Falklands War for CBS News in 1982. At the time, O'Reilly and his CBS News colleagues were based in Buenos Aires -- far from the Falkland Islands, where most of the fighting took place.

O'Reilly insists he never claimed otherwise, but Mother Jones highlighted several examples of him saying he reported from a "war zone" during the Falklands conflict.

Many of O'Reilly's former CBS News colleagues are now strongly challenging his characterization of the experience, as well as his account of a riot he covered in Buenos Aires.

O'Reilly has previously said that the riot turned violent, resulting in several fatalities and a serious injury to his photographer. He once described the riot as a "combat situation."

Several CBS News staffers who were also in Buenos Aires said they do not share O'Reilly's recollection of the events.

O'Reilly, for his part, hopes to trot out his own character witnesses, telling fellow Fox News host Howard Kurtz that he is trying to get former CBS News anchor Dan Rather to appear on his talk show tonight. He also said he plans to show a video that his crew shot while covering the Falklands conflict.

Related: Mother Jones calls for Fox apology over Bill O'Reilly 'kill zone' comment

Related: CBS staffers dispute Bill O'Reilly's 'war zone' story

Bill O'Reilly rips Mother Jones again: 'Bottom rung of journalism

CNNMoney (New York) February 23, 2015: 11:03 AM ET

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China tourists rename top U.K. landmarks

Shard, Britain's tallest building, is owned by Qatar.

That's the new name suggested for The Shard, the tallest building in Western Europe.

Britain hopes the new name will attract more Chinese tourists.

Tourism agency VisitBritain has released 101 new Mandarin names for high-profile sites provided by the Chinese public following a social media campaign.

Among the other suggestions announced Monday, world renowned suit-making street Savile Row becomes Tall, rich, handsome street, while Roman ruin and top U.K. attraction Hadrian's Wall will be rebranded Wall of Eternity. Scotland's pretty Loch Lomond region becomes Mountain Lakes Get You Drunk on Dreams.

Late last year the tourism agency announced a few other Chinese monikers for famous landmarks including huge stone clusters for Stonehenge, and A white, gold and splendid palace for Buckingham Palace.

It's now up to the attractions to decide whether to use the new names. A spokesperson for VisitBritain said Stonehenge and Hadrian's Wall will use their Chinese names on welcome signs, and the response from other attractions has been positive.

Related: Driverless cars debut on U.K. roads

It's all about securing more of China's tourist dollars. Britain wants to double the value delivered by Chinese vacationers to around £1 billion ($1.6 billion) by 2020. Chinese tourists spent an average of £2,508 per visit to the U.K. in 2013, well above the average outlay of £640.

Last year was a record year for tourism in Britain: 34.8 million people visited the U.K. in 2014 -- up by nearly 2 million a year earlier.

It's one of the signs of an improving economic picture in Britain. Falling oil prices and low inflation is expected to keep supporting a recovery that saw the economy grow at its fastest rate in seven years in 2014.

Still, just three months out from a general election, many living in Britain feel they aren't seeing the benefits of recovery as wages remain depressed and cost living pressures bite.

Related: U.K. to businesses: Pay your workers more!

CNNMoney (London) February 16, 2015: 8:54 AM ET

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Is this Richard Branson's next investment?

For Polina Raygorodskaya, the founder of travel startup Wanderu, it was reality.

She was one of three finalists in the first-ever Extreme Tech Challenge, a contest for fledgling entrepreneurs that wrapped up in February.

"It's like American Idol or The Voice for entrepreneurs," said Sabine Schindlbauer, chief operating officer at MaiTai Global, the nonprofit that organized the six-month challenge.

And while it wasn't televised, its pool of 2,000 applicants similarly dwindled down over the course of several months.

"What I was really looking for was the opportunity to take a company that has product market fit and raise their visibility to allow them to scale greatly," said Bill Tai, a venture capitalist and co-founder of MaiTai Global. "I tried to stack the judges along the way with people that could help these entrepreneurs."

Billionaire entrepreneur Richard Branson's Necker Island was the final destination -- and he was the final judge.

Branson's privately owned Necker Island only sleeps 30 people. Many of those who attended the final leg of the challenge commuted to the island just for the day.

Branson has been investing in emerging technology since 2009, including early investments in Twitter (TWTR, Tech30), Square and BitPay.

"I really wanted the opportunity to pitch to him," said Raygorodskaya, 28.

Wanderu, her Boston-based startup, makes it easier to book train and bus travel in the U.S. and Canada. A simple search on Wanderu aggregates hundreds of schedules and routes from operators like Amtrak, Greyhound and Bolt Bus.

"It is a huge opportunity to have someone so knowledgeable in the space hear the story and give me feedback," she said. "Richard Branson is the king of transportation. He understands the industry inside and out."

The night before pitching, Raygorodskaya and the two other finalists were invited to a private dinner at Branson's home.

"He spent a lot of time listening, taking notes and really getting to know the people behind the idea," she said. "He was super excited about Wanderu and that we are bringing many first-time riders to the space."

Wanderu launched in August 2013 and has since served over 4 million users. Just last week, it launched an iOS app. Raygorodskaya had raised $2.45 million before applying for the challenge, and closed another $5.6 million in November.

Although Raygorodskaya scored third -- or last -- place at Necker (the other two startups Doctor on Demand and Breathometer tied for first), she did gain one potential investor: Branson.

"[He] scored us highest of all the other companies in the competition," she said. "Richard publicly announced that he wants to invest." (Conversations between her and Branson are ongoing, she said.)

The informal setting of the final pitches to judges Branson, Rasmussen and Sohn.

The contest (which cost over $500,000 for the Necker Island leg alone, according to MaiTai Global) is representative of the changing nature of VC funding.

"We wanted to turn the model upside down," said Tai, adding that investors now have to find "unproven" entrepreneurs. The contest gave them the chance to pitch to Branson, as well as people like Google Maps creator Lars Rasmussen and Samsung President Young Sohn (both of whom also judged the final round).

There were just three finalists, but roughly 100 people attended the pitch event, including other entrepreneurs like Extreme Challenge contestant Matthieu Dejardins, the founder of NextUser.

He was nominated by IBM Watson, one of the sponsors, to demo his startup's analytic capabilities before the finalists pitched.

"This opportunity opened new doors to us," said Dejardins.

None of the three finalists were guaranteed any funding (various prizes were dolled out throughout the contest; the finalists won prizes like free software and legal fees).

Tai said they're also in the midst of starting a VC fund to support the finalists.

"The most valuable part is the exposure to an amazing network of really high-end judges and people that help throughout the process," said Schindlbauer.

Related: Billionaires battle for the Internet in space

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Related: Geolocate your keys -- or your cat

CNNMoney (New York) February 16, 2015: 10:46 AM ET

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'President' Hillary Clinton: Good for stocks?

Overall, stocks perform better under Democratic presidents than Republican ones, according to S&P Capital IQ.

In the last 100 years, the S&P 500 (SPX) had about a 12% median annual gain during the tenures of Democratic presidents. Republican presidents only saw a median rise of just over 5% a year.

Of course, any analysis comes with the large disclaimer that the past is no predictor of future returns. But investors have started to take notice.

Related: Republican debates: Media winners and losers

'90s throwback? President Clinton is in a league of his own when it comes to stock market performance. The S&P 500 rose by a total of 210% during his two terms, well ahead of any recent president. To put that in context, the index has grown 160% since Obama took office.

There's hope that Hillary would bring more of the same.

"She would be very well received," by Wall Street, says Greg Valliere, chief political strategist at Potomac Research Group. "There's a certain comfort level there because of Bill."

Related: Rand Paul wants to 'Audit the Fed.' Why?

Gridlock city: Hillary -- or any Democrat in the executive branch -- would likely continue the gridlock between the White House and a Republican-led Congress. Considering the opposition Bill faced from a GOP Congress, that may not be a bad scenario for markets.

When Congress is split, the S&P 500 gains 10% a year with Democratic presidents and 3% a year with Republicans presidents, according to data from Standard & Poor Equity Research.

For better or worse, gridlock means no significant reforms to Wall Street. Investors like that, says Valliere.

"The markets, in general, can live with gridlock," Valliere says. "They pass less activist legislation."

Related: Here's what to really fear about the stock market

Bush, Clinton compete on the Street: As the election nears, all the candidates' policies will be in the spotlight.

The most formidable candidate competing for Wall Street's hearts, minds and checkbooks so far is former Florida Governor Jeb Bush. No stranger to Wall Street, Bush recently quit a stint as an adviser to investment bank Barclays.

Investors' views of any candidates could hinge on one big issue for corporate America: cybersecurity, says Kristina Hooper, U.S. investment strategist at Allianz Global Investors.

Almost 90% of CEOs say cybersecurity is their top priority this year, according to a recent survey by investment bank Piper Jaffray. TurboTax and Anthem can speak from experience.

"It is a huge issue now among corporate leaders," Hooper says. Cybersecurity "is completely under the radar now for investors in terms of the election [and that] could really come to the fore in the next 18 months."

Related: Elizabeth Warren is worth millions

How much does a president do? Of course, some point out that a president's policies don't really drive the markets much. These days, every investor is hanging on the words and actions of Federal Reserve Chair Janet Yellen, and when the Fed decides to raise interest rates.

Love it or hate it, the Fed's stimulus program undoubtedly played a major role in the U.S. economy over the past six years.

"Sometimes we ascribe more influence by administrations to the performance of the economy and the financial markets than they really deserve," says Ed Yardeni, president of Yardeni Research, an investment strategy firm.

CNNMoney (New York) February 16, 2015: 10:35 AM ET

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Alibaba's Jack Ma: 2014 was nothing special

In a recent letter to employees, the Alibaba (BABA, Tech30) co-founder said his company didn't produce an "extraordinary performance, nor any unexpected achievements" last year.

"The success of the IPO should not be a surprise, as it was the culmination of 15 years of hard work," he said. "To be honest, we could have done better in 2014 on all fronts, from e-commerce to cloud computing to logistics."

As a result, Ma said he won't be handing out a traditional Chinese New Year bonus -- or hongbao -- to employees.

That's perhaps a bit of a surprise, since gifting red envelopes stuffed with money is a long-held tradition amongst friends, family and businesses for the big holiday. Even foreign firms will engage in the practice in their Chinese branches.

An Alibaba spokeswoman said that staffers will still receive annual bonuses worth one month's pay -- but no red envelope.

Related: Who the heck is Jack Ma? Meet the man who built Alibaba

It is true that Alibaba faces a tough path following its IPO, with greater scrutiny from investors and regulators. The company posted lower-than-expected sales in its most recent quarter. And so far this year, company shares have lost 14%.

Just last month, the Chinese government released a scathing report that accused Alibaba of turning a blind eye to illegal activity, and failing to police its online marketplaces. While the paper was later removed from the government agency website, a number of lawsuits were still filed in the U.S. over its possible failure to disclose information to investors.

"Issues like these are unavoidable as we are now a publicly listed company," Ma said. But he sees it as par for the course: "Almost all multinational companies have encountered similar challenges, such as IBM, Microsoft and Wal-Mart."

The decision not to reward employees with a little extra spending money could just be Ma's way of reminding the firm that there's more hard work ahead.

"This is our most crucial moment since Alibaba started 15 years ago," Ma wrote. "We are far from being as big and strong as public opinions imagine us to be."

Read next: Alibaba is using drones to deliver tea

CNNMoney (New York) February 16, 2015: 2:08 AM ET

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Twitter CEO injured while skiing

Twitter CEO Dick Costolo was injured while skiing.

Dick Costolo tweeted that he fractured his collarbone, but his sense of humor was still clearly intact.

"Day 1 skiing. Fractured collarbone. I'll do anything to avoid leisure," he wrote, including a selfie of his right arm in a sling.

The message resulted in a huge outpouring of support from Costolo's 1.4 million followers.

Representatives from Twitter (TWTR, Tech30) were not immediately available to discuss the severity of the injury.

CNNMoney (London) February 16, 2015: 6:07 AM ET

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Amazon isn't happy with FAA's proposed drone rules

Amazon's plans for a drone-based half-hour delivery service known as Prime Air would remain grounded under the rules the Federal Aviation Administration proposed Sunday.

"The FAA's proposed rules for small (drones) could take one or two years to be adopted and, based on the proposal, even then those rules wouldn't allow Prime Air to operate in the United States," said Paul Misener, the retailer's vice president for global public policy.

Misener called on regulators to act faster: "The FAA needs to begin and expeditiously complete the formal process to address the needs of our business, and ultimately our customers. We are committed to realizing our vision for Prime Air and are prepared to deploy where we have the regulatory support we need."

Amazon (AMZN, Tech30) first unveiled the ambition of deliveries by drone more than a year ago, a move that put pressure on federal regulators to catch up with the interest from both the public and corporate America in drones, officially known as unmanned aircraft systems, or UAS.

Related: Drone pilot wanted, for a starting salary of $100,000

It expects a future where seeing a delivery drone "will be as normal as seeing mail trucks on the road." It hoped drone flights would be permitted as soon as 2015, but the rules aren't there yet.

Current FAA rules bar commercial drone flights, although about two dozen exemptions have been approved. CNN is among those pursuing news uses for drones though a partnership with the Georgia Institute of Technology.

The existing rules are more permissive of hobbyists.

Related: Alibaba is using delivery drones

The proposed rules would allow limited commercial flight by small drones weighing less than 55 pounds. The drone would be limited to heights of less than 500 feet and speeds under 100 mph, and must avoid airports, planes and restricted airspace. Operators would need to pass a basic test every two years and have a permit.

The biggest hurdles to Amazon's delivery ambitions: The operator must keep the drone within his sight at all times and must avoid people. He also must not allow "any object to be dropped from the UAS."

That would seem to preclude Amazon drones from flying into cities and leaving small packages on customers' doorsteps, all the while controlled by an operator back in the Amazon office.

Among the concerns of regulators is no doubt what Amazon CEO Jeff Bezos said in announcing the plan: "This thing can't land on somebody's head while they're walking around their neighborhood."

Related: Amazon unveils one-hour delivery

CNNMoney (New York) February 16, 2015: 8:32 AM ET

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CBS preparing '60 Minutes' tribute to Bob Simon

Scott Pelley introduced Bob Simon's last story on "60 Minutes" Sunday night.

Preparations for the program are already underway. It will be shown next Sunday and will include some of Simon's most memorable stories as well as his colleagues' remembrances of him. It may exceed the usual 60-minute running time.

It will include "some of his, and our, favorite Bob Simon stories," fellow correspondent Steve Kroft said on Sunday's broadcast.

Simon's family will hold a private funeral on Tuesday. A public memorial service organized by CBS will take place at a later date.

The correspondent's sudden death shocked colleagues on Wednesday night. Simon had just finished a story about the search for a cure for Ebola, and was leaving work when the car accident happened.

He had worked on the story with his daughter Tanya, a producer at "60 Minutes." CBS televised it on Sunday night. (The Ebola story can be viewed online here.)

"We thought the best way to pay tribute -- and what Bob would have wanted -- would be to put his story on the air in his own words, beginning right here," Scott Pelley said in an introduction to the segment.

Kroft, at the end of Sunday's broadcast, acknowledged Simon's 19 years of contributions to "60 Minutes," totaling more than 200 stories.

"We lost Bob," he said, adding, "All of us lost him -- his family, his colleagues here at '60 Minutes,' and all of you who have watched this broadcast over the years. We lost his curiosity, his unparalleled writing ability, his calm bravery under fire. And we lost his sense of justice and his sense of the absurd, both of which he brought to so much of his reporting."

"Bob has been both a model and an inspiration to many of us during the 47 years he spent at CBS News," Kroft said.

Related: Anderson Cooper calls Bob Simon a 'warrior poet'

Related: Dan Rather on Bob Simon -- a scholar correspondent

CNNMoney (New York) February 16, 2015: 9:34 AM ET

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LG's new smartwatch: more Patek Philippe, less Pebble

Meet the LG Watch Urbane, the electronics company's first all-metal luxury smartwatch.

The electronics company unveiled its brand new LG Watch Urbane on Sunday. It's a return to form -- round body in silver or gold, and the straps are made of stitched leather. And it's the first smartwatch to mimic an authentic luxury timepiece.

The LG Watch Urbane runs on Android Wear software and has a 1.3-inch OLED display. It performs all the usual tricks. The heart rate sensor and accelerometer are there for fitness tracking. As for direction, there's a gyroscope, compass and elevation-reading barometer.

The big difference here is the look. Other companies have tried to pull off a more classic style -- like the Asus ZenWatch -- but they still have a rectangle body or some other feature that makes them look incredibly modern.

The Watch Urbane is LG's response to the upcoming Apple (AAPL, Tech30) Watch, which is due out in April.

What's old is new again.

The changes seem purely aesthetic, though. As Scott Stein at CNET notes, the insides are essentially the same as LG's previous model G Watch R. And that probably means that, like most smartwatches out there, the battery life is weak.

LG won't let anyone actually try out the thing until this year's Mobile World Congress in Barcelona in two weeks. But it's meant to be a unisex device and promotional photos show some promise that the device won't be too massive to sit comfortably on women's wrists.

This could just be the beginning of a new wave -- maybe smart pocket watches are next.

Related: Hackers stole from 100 banks and rigged ATMs to spew cash

Related: Twitter CEO injured while skiing

Related: Confessions of dating app war stories

CNNMoney (New York) February 16, 2015: 9:42 AM ET

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No sign of agreement ahead of Greece bailout talks

Greek leaders are in Brussels Monday hoping to negotiate a deal that would keep the country in the eurozone without having to maintain austerity reforms.

But things are not looking great for them.

The gathering has been labeled Greece's last chance, after all previous talks failed.

The country's 240 billion euros bailout program is set to expire at the end of February. Without an extension, Greek banks could be cut off from their cash lifeline later this week, and Greece could be ultimately forced out of the eurozone.

The biggest Greek banks were in the red ahead of the meeting, with Piraeus (BPIRF) down 11% on Monday morning and Eurobank (EGFEF) 10% lower.

Greece's new government, led by anti-austerity party Syriza, wants to tear up the existing program and win six months of bridge financing to give it breathing space to negotiate a longer term solution.

But Europe is standing firm: Greece must honor the terms of the package, before it can talk about ways to ease the burden and boost growth.

Related: Will China or Russia rescue Greece? Probably not

German finance minister Wolfgang Schaeuble said he was skeptical about any agreement on Monday. Speaking to a German radio station ahead of the meeting, Schauble said Greece has been living beyond its means for a long time and cannot expect others to pay it more.

Schauble and other European leaders are trying to protect eurozone taxpayers, who have poured nearly 200 billion euros into Greek bailouts.

Several countries, such as Germany and Finland, would have to seek their parliaments' approval on any new bailout package.

The Greek government has come to Brussels with a strong mandate from its voters -- dozens of support rallies took place across the country on Sunday.

But the economic reality is biting. GDP figures published Friday showed Greece's economy shrank in the fourth quarter of 2014 after growing for the first nine months of the year. The government's tax revenues fell almost one billion euros below target in January, as Greeks held off paying taxes before the election, hoping Syriza would scrap unpopular levies.

Analysts say that even if a deal is agreed on Monday, it's likely to be a short term solution. "It is likely only to tackle Greece's near-term financing requirements and hence kick the can down the road," Jonathan Loynes from Capital Economics said.

Related: Grim economic news piles pressure on Greece

CNNMoney (London) February 16, 2015: 10:21 AM ET

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Wanted at police departments: Guns that don't kill

Instead, this brand new sci-fi type weapon incapacitates you in three different ways: it can blind you with pepper gas, zap you with a stun gun and then disorient you with a strobe light.

Welcome to the world of non-lethal weapons ... or less-lethal, to use police parlance, because there's no guarantee that they won't kill you.

After all, a common less-lethal weapon that cops use -- the Taser -- has killed people, though the extent of the death toll is disputed. Amnesty International says that more than 500 people have died in the U.S. "after being shocked with a Taser either during their arrest or while in jail." But Taser, the company, says the tally of deaths directly attributed to Taser is more like 60.

Police departments around the nation are under tremendous pressure to find weapons that don't take lives (like the Triple Defender, pictured below). That's because there's been intense scrutiny of incidents where police violence has led to deaths of unarmed people.

Concerns have especially mounted after last year's violence and riots in Ferguson, Missouri, following a white cop killing an unarmed black teenager.

The same introspection has led Ferguson police department to currently explore a device that will diminish the force of a bullet.

Called the Alternative, the device is basically a small metal ball that is clipped on the end of a gun. When the gun is discharged, the bullet embeds itself into the ball as it hurtles towards the target and helps lessen the bullet's impact.

The person probably won't get killed from the gun (pictured below). But it would still hurt like hell.

"It's going to feel like you're getting punched in the chest by Barry Bonds," said Christian Ellis, founder and CEO of Alternative Ballistics, the company that makes the device. "It's going to break some ribs."

Another company, called Security Devices International, offers a variety of less-lethal ammunition than can be fired from 40 mm grenade launchers. This includes projectiles containing pepper gas, or colored liquid to identify suspects. There's also a "malodorant round" which contains "a highly noxious payload that delivers an appalling odor" that can help disperse a crowd.

Related: Ferguson police exploring 'less lethal' weapon option

Ferguson police have also recently been adopting body cameras. The cameras are made by Taser International (TASR). But Tasers themselves have come under scrutiny.

A Taser fires electricity into people and shocks them. On its web site, Taser says its electric pulses "affect the sensory and motor functions of the peripheral nervous system and cause incapacitation." The company claims that weapons do not damage vital organs, have "been safely deployed more than 3.5 million times" and saved 125,000 people from death or injury.

But Amnesty says Tasers unnecessarily kill people.

"We recognize that there is a need for less lethal tools to minimize the risk of death and injury, which is inherent in police use of firearms," said Amnesty researcher Justin Mazzola. "But what we're always calling for is that Tasers be used as a last resort. Right now there are no national guidelines."

Taser spokesman Steve Tuttle said that Amnesty International makes Taser look worse than it is by blaming the weapons for hundreds of deaths that were actually caused by drug intoxication.

Related: Taser stock surged 30% on Ferguson protests

Even the U.S. military is looking into a futuristic weapon for controlling crowds. Developed by Raytheon (RTN), it basically functions like a giant microwave.

It repels crowds by blasting them with invisible heat rays. Raytheon describes its so-called Active Denial System as a weapon that "emits a focused beam of millimeter wave energy that penetrates the skin to 1/64th of an inch, producing an intolerable heating sensation that causes targeted individuals to flee."

Kelley Hughes, a civilian employee working with the military weapon, volunteered to get zapped by it on five occasions. She compared it to the sudden heat from an open oven door, even though she was 3,000 feet from the source of the beam.

"I felt an intolerable heating sensation," she said. "I felt its heat ramping up quickly and lasting a few brief seconds on my entire body. My immediate reflex was to move quickly away from the beam."

The Air Force says the Active Denial System is not a microwave, even if it sounds like one. The Air Force also says it's not radioactive, does not cause cancer or infertility, and can only be lethal if the energy beam is "sustained and prolonged many times."

The Air Force deployed the weapon to Afghanistan in 2010. But aside from testing, it has not been used on humans.

While using such weapons in place of guns might help to reduce casualties, they are also not that widely tested to see what kind of long lasting consequences can result. Also, in many cases, these weapons do end up killing their targets.

They're no substitute for good community policing, according to Sam Bieler, a criminologist and researcher with the Justice Police Center of the Urban Institute.

"We should really be thinking about what training we can give our police that ... makes them less reliant on force to deescalate tense incidents," he said.

Related: Will the Army keep using Beretta's 'Lethal Weapon'?

Related: Million dollar auction sells two guns a minute

CNNMoney (New York) February 16, 2015: 10:47 AM ET

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JPMorgan worker in murder-suicide: Police

A bank employee and his wife were found dead this weekend.

Michael Tabacchi, 27, was found dead Saturday at his Closter home of a self-inflicted stab wound to the chest, according to the Bergen County prosecutor John Molinelli.

It appears Tabacchi took his own life after killing his wife, Iran Pars Tabacchi, 41, who used the name Denise. She was found dead of strangulation and a single stab wound to the chest.

Tabacchi worked as an associate with JPMorgan (JPM) Global Custody in New York, according to a LinkedIn (LNKD, Tech30) profile in his name. A spokesman said JPMorgan did not have a comment on the incident early Monday.

The couple's toddler was found unharmed in the home, according to local news reports. He is being cared for by relatives.

In July, another JPMorgan employee, Julian Knott, shot his wife before taking his own life in nearby Morris County, according to the county prosecutor. Knott, 45, worked for JPMorgan as an IT manager for several years.

Early last year, two JPMorgan employees in London and Hong Kong committed suicide. Both fell to their deaths from office towers where they worked.

CNNMoney (New York) February 9, 2015: 10:38 AM ET

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Greek stocks tank as standoff intensifies

Stocks in Athens fell sharply Monday after Prime Minister Alex Tsipras outlined plans to reverse a string of economic reforms in defiance of Greece's bailout terms. He is due to meet fellow European leaders this week.

Tsipras' party was elected last month on a promise to scale back severe spending cuts that Greece imposed in exchange for about €240 billion ($271.5 billion) in international rescue loans.

Setting out his policies in parliament Sunday, Tsipras vowed to raise the minimum wage to €750 per month by 2016, rehire some public sector workers and free food and electricity for the poorest households. He promised to raise the tax threshold to €12,000 from €5,000, and halt the privatization of utilities.

Related: Greek PM vows to honor campaign pledges

Tspiras said he would not seek an extension to Greece's current bailout, which expires at the end of the month. Instead, he wants a bridging arrangement to tide Greece over until June while a new deal is hammered out.

European finance ministers are due to consider Greece's plan when they meet on Wednesday. EU leaders gather on Thursday.

Both sides are standing firm on how to deal with the country's massive debts. Greece is running out of money, and its combative stance has worried markets.

That is threatening the country's financial survival, and also its future in the eurozone.

"With very little time to spare, Tsipras let an opportunity pass to reassure Greeks, the European partners and markets that his government will do what it takes to keep Greece in the euro," said Berenberg economist Christian Schulz.

Over the weekend, former Federal Reserve chief Alan Greenspan told the BBC that Greece would have to leave the euro. He said it was "just a matter of time before everyone recognizes parting is the best strategy."

Related: How Greece could accidentally stumble out of the euro

European stocks fell on Monday. Greece's benchmark index tumbled nearly 6%, while its banks notched up double-digit losses. Major bank Piraeus (BPIRF) has shed 45% this year. The yield on Greece's 10-year government bond climbed back up to nearly 11%. A month ago it was 9.5%.

From Wednesday, the European Central Bank will no longer accept junk-rated Greek government bonds as collateral for cheap central bank cash because it can't assume "a successful conclusion of the [bailout] program review."

On Friday, Standard & Poors downgraded Greece's sovereign rating and Moody's put the country on review due to the growing uncertainty over the debt talks.

Money has been streaming out of Greek bank accounts -- Moody's estimates about €12 billion has been withdrawn since early December.

The country also has several key debt payments due, beginning with €1.5 billion owed to the International Monetary Fund in March.

- CNN's Elinda Labropoulou contributed to this report

CNNMoney (London) February 9, 2015: 8:11 AM ET

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India's growth numbers are a total mystery

The truth is that it's very difficult to say. The country's gross domestic product statistics are a veritable mystery at the moment, muddled by major changes in how economic growth is calculated in Asia's third-largest economy.

Last month, India's government statisticians changed the base year used to calculate national accounts, and made adjustments to better reflect manufacturing activity. Overnight, GDP growth in fiscal year 2014 was upgraded from 4.7% to 6.9%.

The dramatic revisions upended the prevailing narrative, which portrayed India's economy as one that was struggling to gain real traction, even if it was headed in the right direction following the election of Prime Minister Narendra Modi.

With the changes, India's economy was suddenly putting up growth numbers that put it within spitting distance of China.

The latest data using the new method, released Monday, show that GDP grew by 7.5% in the quarter ended December, and a whopping 8.2% the previous quarter -- the third of India's fiscal year.

An early forecast puts fiscal year 2015 growth at 7.4%. That would be bang in line with China's most recent annual growth rate.

Analysts say it's too early to draw major conclusions based on the new data. Many contend that the new growth numbers do not square with evidence of continued weakness.

"But the big story is that new data continue to create confusion," wrote Shilan Shah of Capital Economics. "The key point is that these numbers are inconsistent with a number of indicators that point to a slowdown in the economy for much of the past three years, and continued slack more recently."

Related: India to overtake China as world's fastest growing large economy

Even Arvind Subramanian, the chief economic adviser to the Indian government, is taking a wait and see approach.

"I am puzzled by the new GDP growth numbers," he told the Business Standard last week. "Please don't get me wrong. I am not saying these estimates are wrong in any way, only that these bear further scrutiny."

Confusion over official statistics is unlikely to dampen enthusiasm in India. Modi's new government has gone to great lengths to build a consensus around economic reforms since gaining power in May's parliamentary elections.

The prime minster has promised to end policy paralysis, reduce inflation and tackle corruption. He also pledged to establish manufacturing hubs and industrial corridors, and improve the tax code.

Many of the big ticket reforms haven't been put to the test yet. That will likely happen after the government unveils its budget at the end of this month.

Related: The world economy is worse off than the IMF thought

CNNMoney (Hong Kong) February 9, 2015: 9:00 AM ET

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We want your love: Apps compete for online daters

Hinge, JSwipe, Glimpse and The Grade are just a few that have popped up in the past year.

But with hundreds, if not thousands, out there, it's tough to get a critical mass of users. And that's key to attracting investors and eventually turning a profit.

"Do you have scale? A great idea, a clever name, but critical mass?" That's what dating industry veteran Sam Yagan -- he founded OkCupid in 2003 -- said is most important.

It took OkCupid seven years to become profitable. (The site is largely free but users can pay to upgrade their services.) In 2011, IAC (IACI) bought the company for $90 million when it had 1.5 million active users.

But for the aforementioned apps -- along with Coffee Meets Bagel, Happn, Tinder and countless others -- profitability is a long ways off. Many haven't even introduced a plan to monetize their services.

Some, like Coffee Meets Bagel, use a "freemium" model, where the basic service is free but additional features can be purchased. Tinder is exploring something similar. (Tinder Plus is expected to roll out in March, but the price structure has yet to be unveiled.)

For now, most dating startups are laser focused on growing their user base.

"I think 10 or 15 launch every week, and at the end of the year, about one or two of them will actually still be up and running," said online dating analyst David Evans. "It's so easy to throw an app out there ... The market is flooded by Tinder clones. The ideas aren't transformative."

Related: 10 alternatives to Tinder

Yagan, who heads up IAC's The Match Group (which encompasses Match.com, OKCupid and Tinder), agreed.

"It's much easier to make a cool and catchy app on mobile -- it looks slick and gets attention," he said. "But when you ask how many people logged on today..."

And though Coffee Meets Bagel says its matches have resulted in 10,000 relationships and at least 80 engagements, success in love doesn't always equal money.

The company, which launched in April 2012, has raised $2.8 million. The founders declined Mark Cuban's $30 million offer to buy the firm when they appeared on Shark Tank in January. They think the app can eventually generate around $800 million a year, like Match.com. But it isn't profitable yet.

Meanwhile, venture capitalists are leery of giving any one dating startup too much funding. While funding to dating firms was up in 2014, the size of the rounds is actually declining, according to data from PrivCo.

And relatively small amounts of funding can't support the hefty marketing budgets needed to acquire more and more users, according to Evans. Hinge, which raised $13 million in December (for a total of $20 million in funding to date) isn't monetizing its platform yet.

Related: We want your love: Apps compete for online daters

JSwipe, which launched in March 2014, has also caught investors' attention.

"[Investors] understand that our core focus is user growth," said founder David Yarus, who closed an undisclosed round of funding in December. "We're not making money."

The "Tinder for Jews" counts over 200,000 users around the globe, but Yarus, 28, said he'll never charge for the app.

"Love should be free," he said. "It makes me mad when people try to sell your love."

He has "a ton of ideas" for how to monetize the business, but that's not in the immediate future.

One firm that has successfully monetized its dating app is SNAP Interactive's AYI (AreYouInterested), targeted at singles 45 and older. Founded in 2007, it was originally an ad-based platform but introduced a subscription model in 2010.

"We were losing money the first three years," said CEO Cliff Lerner. "You really need tremendous scale and a lot of users who are very engaged."

It now has 100,000 subscribers who pay about $12 a month (this accounts for about 5% of overall users). The company generated $15 million from Facebook (FB, Tech30) users last year alone, according to PrivCo.

Marcos Sanchez, vice president of communications at App Annie, said there's a lot of opportunity for dating apps to up their price points.

The gaming industry is a major revenue generator, but the content on dating apps changes organically as people become newly single -- or taken.

"The value [dating apps] bring and the connection to the offline world allow for [premium pricing]," he added.

CNNMoney (New York) February 9, 2015: 9:04 AM ET

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Here are the 1,784 RadioShacks set to close

It released the list of 1,784 stores it says are due to close by March 31.

Alaska, Nevada and West Virginia are the only states where no closings have been announced. The state with the most closings is California, with 175, followed by New York and the company's home state of Texas. Vermont has only 2 stores slated to close.

The list shows just how much Radioshack is oversaturated in many markets. The company once bragged 90% of the U.S. population was within minutes of a store. But the network of as many as 5,000 locations became an unaffordable burden, with many stores competing against each other.

On the island of Puerto Rico, for example, there are 56 stores. Forty-five are slated to close.

See the full list

The company has not said how many jobs will be lost from the store closings, or from the company giving up about one third of the floor space in its remaining stores to cell phone provider Sprint (S). RadioShack (RSHC) had about 21,000 employees as of its bankruptcy filing.

The closings are part of RadioShack's bankruptcy filing from this past Thursday. According to what staff from across the country told CNNMoney last week, many of the stores have already had their hours and inventories severely reduced, and merely a skeleton staff is left to sell off items at deep discounts.

Related: RadioShack employees - Tales from the walking dead

CNNMoney (New York) February 9, 2015: 9:33 AM ET

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Grammy celebs demand fair pay for musicians

A new group, Creators Alliance, launched itself at the Grammys to protect artist pay against Internet impact. Taylor Swift, pictured at the Grammys with stage-stormer Kanye Swift, dumped Spotify last year over an apparent pay dispute.

A newly-formed celebrity-studded group called the Creators Alliance brought the issue of better pay for musicians to the high-profile Grammy stage on Sunday night.

The Alliance includes big names in the industry like Jennifer Hudson, Alicia Keys, Steven Tyler and Adam Levine.

It doesn't, however, include Swift, the wildly successful star who took up the issue of artist pay last year. She dumped the streaming service Spotify when debuting her new album, "1989." Accounts vary widely as to how much she was getting paid: Spotify said she was on track to make $6 million last year while the CEO of Swift's recording label said it was more like $600,000.

Celebrities aside, Neil Portnow, president of the National Academy of Recording Arts and Sciences, painted a picture where promising singer-songwriters can't afford to pursue their passions.

"What if were all watching the Grammys a few years from now and there's no Best New Artist Award because there aren't enough talented artists and songwriters who are actually able to make a living from their craft?" Portnow asked. "Could that really happen? Or more importantly, could any of us ever let that happen?"

Portnow said that as "new ways of listening to music evolve" artists must be assured "that new technology and distribution will pay them fairly."

Related: The world's 10 richest recording artists

The Creators Alliance said on its website that its core goals include advising Congress on legislation "to ensure fair pay for all creators," and reviewing copyright laws to protect royalty rates.

The coalition garnered some support but also plenty of laughs on Twitter. At the hashtag #grammyalliance, Eric Zaworski tweeted: "We still haven't figured the Internet out, please wait for us."

"That was a pretty good speech. I'm gonna rip it, bit torrent it and put it on YouTube," posted Peter Hoare. Another tweeter calling himself E.R.I.C. said, "Help our millionaire artist[s] maintain their millionaire lifestyles."

CNNMoney (New York) February 9, 2015: 9:41 AM ET

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Your Samsung TV is listening to your private conversations

Many Samsung "SmartTVs" come equipped with voice recognition, which allows you to bark commands at your TV. Since the television is always listening for your voice, Samsung has warned its SmartTV customers that every word is being captured and sent over the Internet.

"Please be aware that if your spoken words include personal or other sensitive information, that information will be among the data captured and transmitted to a third party through your use of Voice Recognition," Samsung posted in its SmartTV privacy policy.

Okay, that's pretty creepy.

Samsung says it needs to send your voice commands to a third-party, because that company converts your speech to text. But Samsung also collects your voice commands to perform research and determine whether it needs to make improvements to the feature.

Samsung noted that a microphone appears on the screen when the voice recognition feature is turned on, notifying customers that their voice is being captured. You can opt-out of the SmartTV voice recognition feature.

But even if you opt out, your voice commands will still be captured. The SmartTV has a set of pre-programmed commands that it recognizes even if you opt out of voice recognition. Samsung will collect the text of those pre-programmed voice commands (though not your voice itself) and analyze how much you're using certain commands.

"Samsung does not retain voice data or sell it to third parties," the company said in a statement. "If a consumer consents and uses the voice recognition feature ... the voice data is sent to a server, which searches for the requested content then returns the desired content to the TV."

Samsung did not immediately respond to a request for comment on the identity of the third party or whether that company records the voice data.

Related: Samsung's Galaxy S6 is coming March 1

Related: A smart necklace from Samsung? Really?

CNNMoney (New York) February 9, 2015: 9:52 AM ET

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The No. 2 most popular fund on planet is 'SPY'

The second-most popular fund on the planet is known as SPY. It invests in the U.S. stock market, specifically the entire S&P 500 index. The fund is run by State Street and the official name is SPDR S&P 500 ETF (SPY).

It's growing rapidly thanks to a terrific few years for the American stock market and lots of love from investors.

SPY expanded by about $20 billion since the start of last year and now trails only the Vanguard Total Stock Market Index Fund (VITSX) in terms of size.

So why do investors love SPY? No, it's not because of Hollywood's recent obsession with spy-themed shows like "Homeland" and "The Americans." It's because this fund is the easiest way for average Joe's and Wall Street traders alike to buy the entire U.S. stock market with just one click.

Since it's an ETF, or exchange-traded fund, SPY trades just like a stock. You can buy and sell it like Apple (AAPL, Tech30) or Facebook (FB, Tech30). But SPY actually trades about five times as frequently as Apple. That's how popular it is.

The fact that an ETF has leapfrogged mutual funds, long the giants in the investing world, shows how investors are quickly gaining comfort with this fast-growing asset class.

Related: The 5 hottest ETFs in the world

It's cheap! The other great benefit of SPY is how cheap it is. The fund charges a mere 0.11%, far lower than a typical mutual fund.

Most ETFs have significantly lower fees than mutual funds because ETFs usually mimic the stocks in an index -- in SPY's case the S&P 500. There's no need to pay someone a hefty salary to select stocks.

SPY also has a track record most stock pickers would kill for. It's outperformed 80% of active mutual funds over the past five years, according to State Street.

"You can hire the smartest people in the world working 16 hour days and a computer tracking an index can still crush them," said Hougan.

Related: Emerging market stocks may be the bargain of 2015

'Black hole of liquidity' The fact that SPY trades so often -- nearly 19 million times an hour -- means it's extremely easy to get in and out of.

"You can put $100 million to work in five seconds. That's how liquid it is," says John Guarino, co-founder of hedge fund Quad Capital.

To put it another way, SPY's average trading volume during the third quarter was higher than the volume of the top 18 stocks in the S&P 500 combined, according to State Street (STT). That includes household names like Coca-Cola (KO), General Electric (GE) and Microsoft (MSFT, Tech30).

Related: 7 stop stocks to buy in February

Easy access to US stocks: Investors also love that it tracks the S&P 500. Yes, the 30-stock Dow gets a lot of media attention (see: Dow tops 18,000), but the S&P 500 is a truer measure of American business because it contains 500 stocks that represent all major sectors of the U.S. economy.

"No real market participant looks at the Dow," said Guarino.

Of course, SPY isn't the only ETF tracking the S&P 500. There's also the iShares Core S&P 500 ETF (IVV) and the Vanguard 500 Index Fund (VOO).

Related: These All-American stocks are strong dollar winners

CNNMoney (New York) February 9, 2015: 9:53 AM ET

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Disney's earnings should scare every cable subscriber

On a diluted earnings-per-share basis the results were even better, as the company handily topped both last year's figure of $1.04 and analyst expectations of $1.07 by reporting a figure of $1.27. In all, a great report for the House of Mouse.

If there was one slight negative, it had to be the performance of its Cable Networks division. Although the division reported an 11% revenue increase, going from $3.76 billion to $4.17 billion, operating income in Cable Networks dropped 2% on a year-over-year basis as the company pointed toward higher NFL costs as the culprit.

Fortunately for investors, the decrease was offset by an increase in its Broadcasting division (The New York Times credits syndication of "Criminal Minds" and "Scandal" for the increase there).

Related: 7 Top Stocks to Buy in February

Still, for those who carefully follow the company, any decrease in the Cable Networks division should be closely followed.

For the uninitiated, that's where the crown jewel of Disney resides: ESPN. For perspective, even after this quarter's poor results, Cable Networks still commands 35.4% of Disney's total operating income, down from 42.3% in last year's prior quarter.

Simply put, Disney needs its Cable Networks revenue to outpace its costs of content to continue to reward shareholders, and it needs cable subscribers to (mostly) pay for it.

College Football Playoffs is just one example: For those not following the exploding costs of sporting-related content, the recently played College Football Championship was a great example. In 2012, ESPN paid in the area of $7.3 billion for the rights to broadcast seven games per year for the next 12 years. And while the first playoff year just passed, that didn't stop major publications from stating that the deal was a success based on -- apparently -- the success of one title game.

Related: Amazon Just Admitted It's Losing Billions

And while it's important to note that the advertising success of that game is not included in this quarter, as the game occurred after the quarter ended and Disney books television ad revenue when commercials are aired, it's prudent to mention that Cable Network advertising revenue decreased this quarter from the year-ago period.

That's important to note, because if Disney can't recoup its costs of content through increased commercial fees, it will need affiliate fees from cable providers such as Comcast and Time Warner Cable to make up the difference. And guess where those affiliate fees are coming from? You, a.k.a. Joe Q. Cable Subscriber.

Affiliate fees are doing well for Disney: When it comes to Disney's Media Networks segment (Media Networks is the term for the segment that includes both the Cable Networks and Broadcasting divisions), the star performer is affiliate fees. In fact, that figure increased 20% on a year-over-year basis, although only 8% is credited from higher contractual rates. Still, that's an 8% increase that cable providers will eventually have to pass on to subscribers to pay Disney for its content.

Related: Warren Buffett Tells You How to Turn $40 Into $10 Million

So on one hand, Disney is able to push price increases of 8%, but it still doesn't appear to be increasing at the same rate as operating expenses that increased 13%, or $453 million, during that same period. Of that increase, 68%, or $308 million, was due to an NFL content-cost increase.

At some point, cable subscribers are going to decide pay-TV just isn't worth it and cut the cord. Although Disney investors should be very happy about this earnings report overall, the sustainability of its most important division should be considered going forward.

Jamal Carnette writes about tech and sports for The Motley Fool.

(New York) February 9, 2015: 10:17 AM ET

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Matchmakers predict the future of love

In the future, that pill could be available. At least that's one prediction from Amy Laurent, a matchmaker and Bravo TV star. She's one of many who answered CNNMoney's question, "What will love look like in the future?"

Matchmaker Amy Andersen also weighed in. Though she's been connecting people for a decade, she said in the future her role could be extinct.

"I'll just be a program you can download," she said.

She imagines that 100 years from now, "people will be able to come in and basically pre-program what they're looking for. We'll be able to create this cyborg person who is half robot and half human."

Possible? Maybe. Some computer scientists have floated the idea of love with robots, and there are companies working to make sex dolls as lifelike and customizable as possible.

Jodi Forlizzi, a professor at Carnegie Mellon University's Human-Computer Interaction Institute, said it's impossible to predict whether or not people will be romancing R2-D2 in a century, but she stopped short of dismissing it altogether.

"People already talk about loving their iPhones," she said. "It seems like it could be part of the trajectory in 50 or 100 years."

Related: Money can buy you love -- or at least make you datable

Still, she said, "I hope we keep the human at the heart of the interaction." She envisions robots helping humans perform tasks (especially boring ones), driving cars and running households -- not necessarily being the objects of our affection.

Andersen's own prediction came with a warning: People, even her clients, don't always know what kind of match is best for them, and trying to program that could lead to disaster.

"They are looking for something that doesn't exist," she said.

One thing that has frustrated anyone who's ever been set up on a blind date is that it's impossible to account for chemistry.

Maybe that will change. Amber Kelleher-Andrews, CEO of matchmaking firm Kelleher International, envisions a future where people meet online and place a hand on the screen to "test whether or not you and your prospective date have chemistry."

Related: We want your love: Apps compete for online daters

Laurent agrees. She said not only could her magic pill be a reality, but blood tests could suggest biological compatibility.

That's not far off. Companies like Instant Chemistry are already working on that (though it analyzes DNA using your saliva, not your blood.)

Laurent envisions herself being part of that future. "I can see throwing a mixer for this or that blood type."

Matchmaker Amy Van Doran said making connections among small groups is key for the future. Today, she said, options for online daters come with a certain amount of fatigue, and the constant barrage of people becomes impossible to manage.

"They're trained to be looking for the next thing," she said. "What they need is not more options."

There's some scientific proof to back that up.

A 2012 study found that an abundance of online profiles to choose from makes people judgmental and reduce "three-dimensional people to two-dimensional displays of information."

Van Doran says her method, which involves curated dates for her clients, is a more effective way to find love, both now and for years to come.

"You don't know what the love of your life will look like," said Van Doran.

And even if someone thinks they do? "My printer doesn't print men," she said.

Maybe in the future, it will.

Related: 10 alternatives to Tinder

CNNMoney (New York) February 9, 2015: 11:04 AM ET

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Greece: We're not looking for a fight over debt

Greek markets took some comfort Monday from Prime Minister Alexis Tsipras' weekend remarks.

LONDON (CNNMoney)

At least that's what Prime Minister Alexis Tsipras says, despite winning power on the back of calls to have half the country's enormous debt written off.

Tsipras said his government was looking for an agreement on Greek debt that would be beneficial for all parties.

"It has never been our intention to act unilaterally on Greek debt," he said in a statement.

Yet on Friday, his own finance minister told reporters the Greek government would not cooperate with officials representing its three biggest lenders: other eurozone countries, the European Central Bank and the International Monetary Fund.

The standoff with Europe has sent Greek markets tanking as investors freaked out about the possibility of the country exiting the euro.

Britain's Chancellor of the Exchequer George Osborne called the issue "the biggest threat to the global economy" after meeting his Greek counterpart Monday.

Read more: Greek banks plunge as new government challenges bailout

Campaign promises to end austerity don't mean Greece would not meet its obligations to the ECB or IMF, Tsipras said in the statement.

Greece owes 32 billion euros to the IMF, and 20 billion euros to the ECB. Both have already rejected the idea of cutting Greek debt.

Tsipras also promised to pursue some reforms agreed by the previous government, including a crackdown on tax evasion.

His words appeared to calm markets Monday. Greek stocks were up after a week of steep losses. But Greece's 10-year bond is still yielding more than 11% -- that's up from just above 8% a week ago.

Tsipras made no mention of Greece's debt to the rest of the eurozone. Taxpayers from other eurozone countries have poured nearly 200 billion euros into Greek bailouts -- and this is where Tsipras is looking to cut.

Most eurozone leaders have already rejected writing off part of Greece's debt.

They are prepared to consider extending the bailout program, and possibly giving Greece more time to pay back the money at lower rates of interest, but only if Greece sticks to commitments to make its economy more competitive.

Read more: Is Greece Putin's new ally in Europe?

First Published: February 2, 2015: 10:38 AM ET

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Another new record for Super Bowl streaming

NEW YORK (CNNMoney)

That stat -- released by NBC shortly after the game -- can be read one of two ways.

One: streaming continues to take over by converting new fans. 1.3 million is the highest-ever number of concurrent streaming viewers for a Super Bowl.

Two: television distribution continues to reign supreme. If people can watch the game on a big screen through a cable or satellite provider, they generally will. Streaming is a back-up.

Both assessments are true.

More and more people are streaming all sorts of programming, including live sporting events. And that phenomenon is sure to continue in the years to come; if next year's Super Bowl broadcaster, CBS, decides to make the game available on the Internet, it'll probably break this year's streaming record.

Last year Fox's live stream of the game peaked at around 1.1 million viewers. Fox said that stream averaged 528,000 average viewers, meaning the number that were watching, on average, every minute of the game.

An NBC Sports spokesman said the average streaming viewership number is not yet available.

Even with a peak of 1.3 million simultaneous viewers, the online streams account for barely 1/100th of all Super Bowl viewing in the United States. Many observers expect the TV ratings for Sunday's game to surpass last year's record highs, when 112.2 million tuned in at home, according to Nielsen.

(That number is the television equivalent of Fox's 528,000 number for the live stream last year. Peak TV viewership was well above 111.2 million.)

TV ratings for Sunday will be released on Monday afternoon.

Nielsen's estimate for the TV audience actually undercounts how many people really watch, since viewing parties, bars, restaurants, and other out-of-home locations are not counted.

The point being: most people want to watch the big game on a big screen.

Amanda Morris of Oak Park, Illinois, had to stream Sunday's game because her DirecTV satellite connection was disrupted by a snowstorm.

The experience was "mostly okay," she said, aside from a couple times when the app crashed and had to be rebooted.

The biggest disappointment, she said, was that "some of the commercials were blacked out."

Other web-streamers complained about the same thing.

NBC sold Super Bowl ads for TV and for the web separately, and the web ads cost a whole lot less than the $4.5 million price tag the traditional telecast commanded, since fewer people were expected to watch online.

While some advertisers did a package deal so their ads appeared in both places, others did not, leaving some streamers fuming.

NBC said there were no major hiccups with its live stream -- no small feat, given the high stakes of a Super Bowl.

There were no widespread complaints about Verizon's app that streamed the game to its wireless customers, either. (No viewership data for Verizon is available.)

But some streamers complained about the lag time between the TV broadcast and the web stream, resulting in spoilers on Twitter and Facebook when points were scored.

If the live stream "was an elaborate trick to punish cord-cutters, I'd say it was a great success," Slate's Will Oremus wrote.

"Seriously, watching cable is just easier," Mashable's Christina Warren tweeted.

Of course, some people couldn't be home to watch the traditional way, and streaming was a handy alternative. Time of day is a crucial factor for web viewership -- some World Cup matches that took place during the workday in the United States peaked at well over 1.3 million simultaneous viewers last summer. The USA-Germany match on June 26 had 1.7 million viewers on the web.

First Published: February 2, 2015: 9:27 AM ET

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Julián Castro: Obama's housing chief wants to talk about the middle class, not politics

NEW YORK (CNNMoney)

The former San Antonio mayor moved to Washington, D.C., last year after Obama nominated him to lead the Department of Housing and Urban Development.

Joining the president's Cabinet at age 39 elevated Castro's national star power. In a recent interview with CNNMoney's Christine Romans, Castro insisted he's wholly focused on his current job -- at least for now.

"The speculation about what's next or what's in the future for me has been very flattering. You know, who wouldn't be flattered by that?" Castro said. "But I'm going to try and do a great job now so I have a decent future in the years to come."

Asked about the widespread buzz he could be in the running to be the vice presidential running mate for Hillary Clinton in 2016, Castro responded: "I think the worst thing I can do is go down that road and forget about the important work I'm trying to do right now."

As HUD secretary, Castro is tasked with ensuring that more Americans can have better access to housing -- no small challenge coming on the heels of the epic collapse of the housing market that started in 2007.

Quiz: Are you a homebuying genius?

But Castro said he is confident that 2015 can be "a year of housing opportunity."

Falling gas prices, easing home prices and low interest rates mean "more folks will have some money in their pocket to save up for that down payment," Castro said.

Castro, whose twin brother, Joaquin, is a member of the House, acknowledged there will be limits to what the Obama administration can achieve on housing policy given that Congress is now fully controlled by Republicans.

Related: Best Jobs in America

Last year, lawmakers in the House and Senate across the political aisle negotiated over a housing finance reform bill aimed at restructuring Fannie Mae and Freddie Mac. But those talks broke down, and it's unclear when and how those discussions could pick up momentum again.

Castro noted that there are certain things the administration can do without Congress's help, pointing to a recently unveiled announcement to lower the Federal Housing Administration's mortgage insurance premiums as an example.

"That's going to mean a savings of $900 annually for two million borrowers out there and it's going to spur a quarter of a million folks to be able to buy a home over the next three years," Castro said. "That's a real impact on the middle class."

First Published: February 2, 2015: 9:37 AM ET

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Las Vegas casinos are losing big in China

NEW YORK (CNNMoney)

The majority of the business for these "Las Vegas" companies now comes from Macau, the only city in China where gambling is legal.

Consider the Las Vegas Sands. Its famous Vegas properties such as the Venetian and the Palazzo now make up a mere 10% of its sales, according to the company's latest earnings report. It's a similar story for Wynn. Its Vegas operations drive less than a third of the company's entire business.

Even MGM Resorts, owner of the Bellagio, MGM Grand and Mandalay Bay, is China focused. Its Macau business now takes in more cash than those three Vegas casinos combined.

"Macau is larger than Vegas, larger than the whole U.S. gaming market," says Adam Fleck, an analyst at Morningstar Research.

Related: China's gambling mecca desperately needs to diversify

China's gambling mecca: With a population around 600,000, Macau is the fastest-growing city in the world, according to the Brookings Institution, and its casino industry is roughly seven times the size of Las Vegas'.

But China isn't a winning bet right now.

An anti-corruption campaign by the Chinese government, travel restrictions and a smoking ban on casino floors are keeping gamblers with deep pockets away from Macau for now. China also just reported its slowest year of economic growth in decades, adding to a "perfect storm," of bad events in Macau, analysts say.

The Macau slowdown is hurting Vegas veterans -- and investors in these companies. The stocks are down sharply in the past year.

"Wynn and Las Vegas Sands have been betting big on Macau so that's why the stocks have down lousy," says John Staszak, an analyst at Argus Research, who has a hold rating on Wynn.

Related: China post its worst growth in 24 years

Investor are losing: Although Las Vegas Sands' reported record profits on Wednesday, its stock is down 30% over the past year. Sands reported a double-digit drop in revenues in its Chinese branch. The boost in overall profits came from cost-cutting measures.

Wynn (WYNN) will report its latest results Tuesday, and it's not expected to be a good story. The stock is down 26% in the past year. Wynn's casinos in Macau make twice as much in revenue as its Las Vegas ones. That's why it's very bad news for investors that Wynn's Macau branch is projected to report a 25% sales drop for the fourth quarter, according to analysts estimates.

But as the saying goes, the house always wins.

Related: Reinventing Vegas: Clubs not Casinos

Analysts say that casinos in Macau will be a long-term winner. The Chinese government has only granted six gambling licenses to casino companies, which reduces the risk of future competition. Once the casinos offer more entertainment activities outside gambling, they will be become even bigger cash cows.

"There's a very long-term secular growth story here," says Fleck, who has a buy rating on Wynn. "We think that the [casino] names look attractive right now, look undervalued."

First Published: February 2, 2015: 7:42 AM ET

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He brings steam engines back to life

Scott Lindsay working on the Class J 611 steam engine in Spencer, N.C.

NEW YORK (CNNMoney)

"My dad was interested in steam trains," said Lindsay. "I was just three or four years old when he'd take me to visit train museums in New York and New Jersey."

Decades later, Lindsay, 56, is among a handful of experts in the country with deep technical knowledge about historic steam locomotives.

His Birmingham, Ala.-based Steam Operations Corporation specializes in rebuilding and preserving historic engines and other railroad equipment.

The firm's latest project involves getting the "Class J 611" steam locomotive restored and operational for the Virginia Museum of Transportation in Roanoke, Va. When it's ready, the museum plans to use the 611 for tourist excursions.

Between 1941 and 1950, railway company Norfolk and Western (which later became Norfolk Southern) built 14 J Class steam passenger engines numbered 600 to 613.

The "611" was built and weighs a massive 378,000 lbs. It was the last of J Class engines to operate, and is the only one still in existence.

"The 611 is arguably the most modern steam locomotive in existence in the U.S. today," said Lindsay. "It truly represents state of the art steam locomotive technology."

Related: Rebirth of America's dead factories

Lindsay is spearheading the yearlong project, which began last June in Spencer, N.C. The work is extensive.

"It's a full inspection. The boiler is being taken apart. All subsystems, air compressors, steam-powered generators, wheels, everything will be tested, repaired and restored," he said.

The 611 will be restored to its former glory [seen here] when it is fully restored.

Lindsay's boyhood excursions on steam locomotives eventually led to summer job offers that gave him hands-on experience with the engines.

"My career has evolved from being at the right place at the right time," he said.

Related: Women take on manufacturing

He skipped college to work for Norfolk Southern's steam program, learning how to repair, maintain and operate steam locomotives. He launched his own firm in 1993.

"When I started, there were lot of fellows who knew the ins and outs of steam trains. I benefited from working with them," said Lindsay.

It's a different story today.

"The work that I do and the technical knowledge that I have is absolutely a dying skill," he said.

Still, demand for his expertise remains robust. "It's been a surprisingly busy career," said Lindsay. He's done over 50 restoration, maintenance, inspection and consulting projects, mostly in the U.S., since 1977. All of the locomotives are from different eras.

"The oldest locomotive I've worked on was from 1896 and the 611 is the newest," he said.

"Steam locomotives represent the pinnacle of the industrial age," said Lindsay. "It's great if our schools teach courses about them. You have to study the past well to forge successfully into the future."

First Published: February 2, 2015: 7:39 AM ET

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Nationwide ad meant to be jarring

NEW YORK (CNNMoney)

The intent was to "stage an intervention," chief marketing officer Matt Jauchius said, "because you have to grab people by the scruff of the neck and say, 'Listen, this is the No. 1 killer of children, and we want to do something about it, really.' "

Necks were grabbed, for sure. Nationwide's production -- showing a dead child describing the life he will never live -- was one of the Super Bowl's most-talked-about ads on social networking sites and in surveys by research firms.

Some viewers called it a "buzzkill" that seemed too dark and depressing for the biggest television event of the year. CNN's Richard Quest, who interviewed Jauchius about it ahead of time, called the ad "downright upsetting."

But it certainly stood out, and that was partially the point.

CNN's cameras were inside a November meeting of Nationwide marketing executives as they weighed whether to move forward with the ad.

During the meeting, one of the staffers spoke of disrupting "normal Super Bowl advertising."

And Jauchius told his colleagues that the dead child ad "balances that edge of being interventionist to get attention, but it's approachable enough not to turn people off at the Super Bowl."

Ogilvy & Mather Advertising created the ad for Nationwide. "In 60 seconds, we can probably bring more attention and awareness and action around this issue than we have in 60 years," Adam Tucker, the firm's president, said in the meeting.

Related: These Super Bowl ads made this Dad cry

In the ad, the child is heard saying, "I'll never learn how to ride a bike. Or get cooties! I'll never learn to fly. Or travel the world with my best friend. And I won't ever get married."

Then he appears on camera and says, "I couldn't grow up. Because I died from an accident."

Nationwide was highlighting the fact that -- in its words -- "preventable injuries around the home are the leading cause of childhood deaths in America."

Some viewers responded positively to the ad, but many others reacted negatively; by halftime, the boy was a meme.

"The second I see a kid in one of these commercials I immediately assume they're going to die. Thanks, Nationwide!" comedian Patton Oswalt tweeted.

Nationwide issued a statement which read in part, "The sole purpose of this message was to start a conversation, not sell insurance."

Jauchius didn't say anything on Twitter on Sunday night, but he retweeted another user who wrote, "Go ahead and complain about it being a 'downer,' but that Nationwide ad will actually save some kids' lives."

Related: The tale of the missing tape from Super Bowl I

First Published: February 2, 2015: 7:53 AM ET

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