No More Blogger Freebies?

The Federal Trade Commission announced yesterday that it would modify rules about endorsements and testimonials online that could change the relationship between advertisers and many bloggers, according to the Wall Street Journal. Under the regulations, bloggers must disclose any relation to advertisers whose products they’re reviewing and include whether or not they had received them for free or were paid otherwise. In addition, celebrities must reveal connections to any companies whose products they promote on TV or online. Some critics say the guidelines limit free speech, pointing out that “while the FTC has long regulated advertising claims in traditional media, the agency generally has allowed publications to police themselves when it comes to editorial content.”

To combat unemployment, the Obama administration and congressional Democrats are considering extending “several safety net programs” and proposing hiring incentives for businesses, says the lead story in today’s New York Times. In his Saturday radio address, Obama mentioned that in he wants to “explore additional options to promote job creation.” His economic team further discussed some possible ways to do that yesterday. One option on the table is a $3,000-per-new-hire tax credit for employers. An alternative would allow more businesses to deduct their net operating losses for the past five years instead of just two—a break that Congress gave only to small businesses in the stimulus plan.

Condé Nast announced yesterday that it will shut down four of its publications—Gourmet, Cookie, Modern Bride, and Elegant Bride—and lay off about 180 people, says the Wall Street Journal. The news comes in the wake of McKinsey & Co.’s review of the publisher, in which the consultants prescribed a sharp reduction of expenses. The New York Times weighed in on the news  too, focusing on the fall of the fancy food glossy: “Advertising support for luxurious magazines like Gourmet has dwindled, while grocery store advertisers have continued to buy pages at more accessible, celebrity-driven magazines like Every Day With Rachael Ray, which specializes in 30-minute meals, and Food Network Magazine.”

Yesterday, NBC Universal “forced out” the co-chairmen of its movie studio, says the WSJ. The move comes following various box office “disappointments” and amid talk of a deal that could land NBC Universal in the hands of Comcast (CMCSA). Marc Shmuger and David Linde, who have been in their positions more than three years, will be succeeded by two "longtime marketing and production executives.” Among the studio’s movies that failed to meet expectations this year:  Duplicity, starring Julia Roberts, and State of Play, with Russell Crowe.

Apple (AAPL) is leaving the U.S. Chamber of Commerce, according to the Washington Post. The tech giant is breaking ties because of the organization's climate-change stance. In a letter, Apple Vice President Catherine Novelli wrote, "Apple supports regulating greenhouse gas emissions, and it is frustrating to find the Chamber at odds with us in this effort." As a result, she said, "we have decided to resign our membership effective immediately." Apple is the fourth major company to pull out in recent weeks, following Pacific Gas and Electric (PCG), PNM Resources (PNM), and Exelon (EXC). Citing similar reasons, Nike (NKE) resigned from the chamber’s board.

According to Bloomberg, Wal-Mart de Mexico is taking advantage of the recession by offering smaller, cheaper products to Mexicans at its Bodega Express shops. Also known as “Walmex,” the retailer is expected to report its fourth straight positive quarterly results this week. According to the article, the “Bodega Expresses” are small shops “wedged into poorer neighborhoods,” which give Walmex the opportunity to meet demand for single-use boxes of groceries like milk and tortillas from consumers purchasing meal-to-meal. The model has proved to be so profitable that nearly three-quarters of the 270 stores Walmex plans to open this year will be Bodega Express units.