Crowdfunding your home renovation: Should you do it?

NEW YORK (CNNMoney)

"It's just ugly and is the main bathroom that all our guests use," said the Pittsburgh-based mom.

She and her husband are hoping that family, friends and maybe even complete strangers can help fund the $500 renovation.

Reidy posted her appeal in July on recently launched crowdfunding website FeatherTheNest.com.

The website allows users to create campaigns, known as "nests," to request donations to help fulfill home-related needs: whether it's a down payment, closing costs or home improvement projects. The couple has been sharing the campaign with friends and family members for birthdays and holidays. So far, the family has only raised $25, but is hopeful.

"My husband has hinted to family members asking what we want for the holidays."

Lindsay Oparowski came up with the idea of Feather the Nest in 2013 when she was pregnant with her second daughter and realized while she already had all the necessary clothes, toys and supplies, what she really needed was another bedroom. "There isn't a great way to ask for money; I figured creating a third party to help make the request would remove the awkwardness."

Related: Ben Bernanke can't refinance

Anyone can create a nest as long as the goal is real-estate related, said Oparowski.

The site launched in May, and currently has 14 nests waiting to be filled, including Oparowski's own $1,000 campaign. Donors can contribute any amount to campaigns and can either make the donation public or stay anonymous. The company takes a 5% transaction fee, and donations are directly deposited into the user's bank account after two days.

At HatchMyHouse.com, users can design a dream home as part of their online gift registry to help save for a down payment, renovations or home furnishings. There is a $25 donation minimum, and the company charges a 5.9% transaction fee. According to co-founder Rieve MacEwen, more than 2,000 people have used the site since its 2009 launch, bringing in more than $2 million in donations. The biggest amount saved to date by a registry is $10,000.

Calculate how much home you can afford with or without student loan debt

Engaged couples looking to skip traditional retail registries can request contributions to toward a home at DownPaymentDreams.com. Couples can create a down payment registry on the website and also use it as personal wedding profile to share event details with guests. There's a $50 registration fee and PayPal, the site's payment processor, takes a transaction fee on donations, according to President Teresa Krebs.

On Feather the Nest, one couple on the site hopes to raise $25,000 to help buy a home, while another family wants $1,000 to furnish a new home.

Bankrate.com (RATE) senior financial analyst Greg McBride said crowdfunding to help afford a home could cause some issues in the mortgage process — especially for first-time buyers. Lenders require income documentation and money from crowdfunding could cause problems, he said.

Related: Let your employer get you a cheaper mortgage

"If you don't have a demonstrated track record to save money before you buy a house, you won't start after you buy," he said. "Anyone who has bought a house will tell you that the expenses are just starting when you buy a house. I am not sure it's a practical way to raise a down payment."

Krebs recommends her users hang on to the receipts PayPal sends when a donation is made. "Lenders are going to want to see the money isn't a loan and is a gift."

When it comes to using crowdfunding for home repairs and renovations, McBride gives the all clear. "If you can get people to help you out, the more power to you."

First Published: October 5, 2014: 9:37 AM ET

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HP to split into two companies, report says

Meg Whitman, the CEO of HP, has led a restructuring of the company.

NEW YORK (CNNMoney)

The Wall Street Journal, citing unnamed sources, reported Sunday that HP (HPQ, Tech30) plans to put the PC and printer operations under one roof and its business that provides software and services to corporate customers under another.

The Journal said the announcement could come as soon as Monday, and that the separation would take place next year.

HP spokeswoman Sarah Pompei declined to comment on the report.

The split follows a number of spinoffs and breakups this year. Most recently, eBay (EBAY, Tech30) announced on Tuesday it would spin off the online payment platform PayPal, which it bought in 2002.

Meg Whitman, the CEO of HP, took the helm in 2011 and unveiled a five-year restructuring plan. That included a major overhaul of the printer and PC business in 2012. Layoffs then and since have totaled at least 45,000, and HP projected savings of $4.5 billion per year.

Related: Big companies that are making big job cuts

Her predecessor, Leo Apotheker, considered a corporate split similar to the one the Journal reported, but he left the company after only 11 months.

Whitman would have leadership roles at both companies, the Journal said. She would be CEO of the enterprise business and chairman of the hardware company.

Some investors applauded the potential move.

The split would allow HP to be more "nimble" and let it "reshape" its business, said Brendan Connaughton, chief investment officer at ClearPath Capital Partners.

In particular, Connaughton said, the move would put renewed focus on enterprise services, "where they have incredible margins," sometimes upwards of 20%.

HP is among the top five performers in CNNMoney's Tech 30 index, which tracks significant tech companies. Its stock has climbed nearly 26% this year, bolstered by earnings that have climbed even as sales slumped.

--CNN's Paul LaMonica and Dave Goldman contributed to this report

Related: Whitman among CEOs who take $1 salary

First Published: October 5, 2014: 4:26 PM ET

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Would you move abroad for a job?

NEW YORK (CNNMoney)

Yet a new survey found 64% of people worldwide say they would be game to cross borders for their careers.

The Boston Consulting Group and The Network, an online recruiting firm, culled through more than 200,000 responses to their online survey, which sought to gauge who is willing to work abroad and why.

Respondents from less developed economies - such as Pakistan, Jamaica, Honduras and Ghana - were much more willing to uproot themselves than workers in more stable economies. But France and the Netherlands broke that mold: More than 90% of the French and Dutch respondents said they'd be willing to go abroad.

By contrast, less than half of the American, British and German respondents felt the same way. That's also true of the survey takers from Denmark, which is regularly found to be among the best for working parents and quality of life.

Location, of course, makes a difference when choosing a new place to live. Among those who said they were willing to work abroad, non-U.S. citizens said they would most like to work in the United States, while Americans looking to ex-patriate said the United Kingdom would be their top destination.

Survey takers also chose their favorite cities for jobs. Among all respondents, the top 10 cities were London, New York, Paris, Sydney, Madrid, Berlin, Barcelona, Toronto, Singapore and Rome.

Even though the global workforce has become more mobile than ever, not every type of worker is eager to pack her bags.

The BCG survey found that 70% of engineers, particularly those in information technology and telecommunications, were willing to go abroad. Far less willing were those who worked in the fields of health and social work, with only about half saying they'd take a job in another country.

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First Published: October 5, 2014: 7:01 PM ET

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CVS sanctioned for faking product size

NEW YORK (CNNMoney)

CVS Health (CVS) settled with four California counties and the state's Department of Agriculture after allegations that its packaging didn't accurately represent how much product it contained.

The $225,000 settlement, first reported by Fresno, California's ABC30, covers a few store-brand beauty products, mostly wrinkle creams but also an anti-frizz hair product. The report says the points of contention were alleged false bottoms and sides that improperly exaggerated the amount of product in the container.

Related: No more cigarettes at CVS

The money will mostly go to Fresno, Yolo, Sacramento and Shasta Counties, ABC30 reports. A CVS spokesman confirmed the settlement and said the company would do better going forward.

"While manufacturers generally choose the container size, CVS/pharmacy has agreed to redesign the packaging of certain CVS Brand items," he wrote in an email.

First Published: October 3, 2014: 6:32 PM ET

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Thomas Piketty: We don't know enough about inequality

NEW YORK (CNNMoney)

But even after penning a 700-page book, Piketty admits that he and other economists have only skimmed the top of the inequality iceberg.

"We know a little bit more than we used to know, but we still know far too little." Piketty said. "The book is trying to put together a large quantity of historical data on the evolution of income and wealth distribution."

Piketty spoke at New York University on Friday to defend the research for his tome, "Capital in the 21st Century." One of his hallmark arguments is that the United States needs a progressive tax system to stem economic inequality.

"If inequality is two dimensional, you don't want a one dimensional tax system" said Piketty, referring to how the wealthy earn a lot more income over their lifetime, but also often start out with a big boost by getting a large inheritance from their parents or grandparents.

Americas have often debated whether to tax the estates of those who die and leave money to the next generation.

Related: Blueprint for a more progressive tax code

Piketty used extensive and historical tax data on incomes and estates in his book to argue that inequality in the United States and Europe is back to pre-World War I levels -- think Downton Abbey.

He claims that the wealth held by the top 1% is outpacing the economic growth of many developed nations. It is also influencing American politics.

"I think this very large concentration of wealth also affects the political system," Piketty said Friday. Wealth offers "access to the time of people [politicians]. Access of influence. Access for the pleasure of access."

Related: Elizabeth Warren says the market is broken

The latest data on income inequality from the Federal Reserve supports Piketty's findings. While most of Americans saw declining or flat income gains over the past four years, the uber rich saw widespread increases.

It's even more pronounced when it comes to stock market gains, one of the main drivers of wealth. Less than half of Americans have any money in the stocks at all. The top 10% of U.S. families have a median value of $282,000 invested in equities. Middle class families, in contrast, have only $14,000.

Related: Who's getting rich of the stock market?

Piketty rocketed to celebrity status in March when his tome hit U.S. book stores and stunned the world by being a bestseller even though it's wonky and data heavy. During his book tour this year, Piketty met with the White House Council of Economic Advisers and U.S. Treasury Secretary Jack Lew.

The harshest criticism of Piketty's work came from the Financial Times. Its economic editor, Chris Giles, argued Piketty used flawed estate tax data in Britain to reach his conclusions on how much wealth the nation's 1% has. Giles suggested that Piketty should have used survey data instead. Piketty responded to Giles, admitting the estate tax data was not perfect, but said it was his best option to measure income inequality over time.

Although Piketty used the similar metrics to compare countries, he said no story is the same.

"Each country has a very complex relationship to inequality," he said. "All I'm trying to prove is this big reminder of a large historical perspective on inequality and taxation."

First Published: October 4, 2014: 8:36 AM ET

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GM recalls reach 30 million for year

NEW YORK (CNNMoney)

GM (GM) announced additional recalls Saturday, bringing its 2014 count to about 30 million vehicles.

An ignition problem is at the heart of the latest recall.

On certain Pontiac G8 and Chevrolet Caprice models, the vehicles "may experience unintended key rotation from the 'Run' to 'ACC' position if the driver's knee interacts with the ignition key," according to GM.

GM is under fire after disclosing a fatal ignition switch flaw in February. CEO Mary Barra testified in front of Congress this spring to explain how the problem was overlooked for a decade.

Related: 1 million GM cars with fatal defect still on road

The company has been reviewing all of its older vehicles for issues. CEO Mary Barra said last month the company is mostly done with that process.

The latest recalls announced today affect about 60,000 cars, including some Pontiac G8, Chevrolet Caprices and Cadillac models. The Caprice model is a police vehicle.

The Cadillacs have a different kind of problem that impacts the vehicle's fuel pump. Most dealers should be able to replace the faulty part, the company said.

No injuries or fatalities have been reported from these latest problems, although GM is aware of one crash.

Despite the high profile of the ignition switch recall, which has been tied to at least 23 deaths so far, many GM car owners aren't bothering to get the replacement parts. As CNNMoney reported this week, over a million cars with the fatal defect are still on the road.

The latest recalled models are:

2008-2009 Pontiac G8

2011-2013 Chevrolet Caprice PPV (police patrol vehicles)

2004-2007 Cadillac CTS-V

2006-2007 Cadillac STS-V

2014 Chevrolet Sonics

First Published: October 4, 2014: 12:10 PM ET

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The shrinking New York Times

Involuntary layoffs are likely to follow if the New York Times doesn't get the 100 job cuts it is seeking from a 1,330 person newsroom.

NEW YORK (CNNMoney)

The company announced lucrative buyout packages for its newsroom staff this week, in an effort to get its more senior, better paid journalists to agree to leave the company voluntarily.

Involuntary layoffs are likely to follow if the company doesn't get the 100 job cuts it is seeking from a 1,330 person newsroom. Buyouts are being offered in other departments as well. The cuts are expected to take place by the end of the year.

The company has reduced its headcount by more than half in the last five years. But most of that was due to shedding different parts of the overall business beyond the core New York Times.

The biggest divestiture was its $70 million sale last year of the Boston Globe -- a property it paid $1.1 billion for in 1991.

But the Times (NYT) has also cut jobs from across its business units, while trying to limit the cuts in the newsroom.

Company spokeswoman Eileen Murphy said digital hiring in the last four years lifted total newsroom staffing by about 200 jobs before the latest cuts were announced.

News of the buyouts this week gave a lift to the company's battered stock, which is still down more than 17% so far this year despite the recent bump. But many doubt whether it can really cut its way back to prosperity.

Digital revenue growth losing steam: The paper depends on a premium product for its financial success. It is able to charge top dollar for its print edition, and it's one of the few papers able to charge for its digital content.

The resulting growth in circulation revenue has helped it overcome the steady decline in advertising that has become a cancer in the print media business in recent years.

Circulation revenue jumped nearly 13% after the company instituted a "paywall" for digital readers in 2011. But in the second quarter it reported less than 2% annual growth in circulation revenue, which alarmed investors.

While investors generally liked the news of the latest staff cuts, one industry observer said it raised concerns about the paper's ability to hold onto its premium pricing.

"People who read the Times will pay anything, and they're the high-income, high-education readers advertisers want to reach," said Ed Atorino, analyst with The Benchmark Company. "But 100 less reporters means less content, by definition. Less content will eventually mean less demand. Sooner or later they will be bumping up against the laws of economics."

Industry trends hitting results: The Times company has seen its print circulation fall about a quarter between 2009 and last year, and that slide has continued. It also has cut the size of the print edition, leading to a drop in the amount of newsprint it uses.

Of course the trend of traditional media losing ground to digital is not unique to the New York Times.

Rival News Corp. (NWS) split its company into two last year, separating its papers, including the Wall Street Journal, from its movie studio, broadcast and cable networks that now make up 21st Century Fox (FOX).

Time Warner (TWX), owner of CNN and CNNMoney, spun off Time Inc. (TIME) as a separate company earlier this year and recently announced its own buyout offer for employees of Turner Broadcasting, which includes CNN.

And many newspapers nationwide have closed or cut back, and are either no longer printed every day or available for home delivery.

"They've done better than many papers because they're the Times," said Atorino.

But shares of the New York Times Co. have trailed print rivals such as News Corp. and Gannett (GCI), even with the recent lift from the staff cut announcement. Its earnings are due at the end of the month and analysts are forecasting either a loss for the quarter or, at best, break even results.

First Published: October 3, 2014: 4:01 PM ET

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Stolen Harley returned after 42 years

A stolen Harley-Davidson is returned after 42 years.

NEW YORK (CNNMoney)

"When the kids asked me if I was going to ride on that, I told them I sure am," Johnson said this week after Customs and Border Protection agents returned the motorcycle, which was stolen 42 years ago.

The 1954 FL Harley-Davidson Hydra-Glide motorcycle was intercepted last month at the Los Angeles/Long Beach seaport, where it was about to be shipped to Australia.

Investigators with the California Highway Patrol discovered that the bike had been stolen from a police officer in North Carolina in 1972.

"My dad would be tickled to get it back if he was still alive," said Johnson, whose father passed away four years ago. "I miss my dad so much. This is like a piece of him is coming back home."

Related: Harley-Davidson unveils its first electric hog

The Harley, worth an estimated $24,000, appeared to be in mint condition. It was green when stolen but was since painted bright yellow. It also has a "trumpet style horn" and a medallion on its front fender commemorating Harley-Davidson's 50th anniversary.

Finding and returning long stolen vehicles are starting to become du jour. Only recently, customs agents returned a 1967 convertible Jaguar XKE to its rightful owner 46 years after it had been stolen. The two-door convertible was discovered in a container that was going to the Netherlands.

The stolen Jaguar that was returned to owner 46 years later

First Published: October 3, 2014: 5:01 PM ET

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CVS sanctioned for faking product size

NEW YORK (CNNMoney)

CVS Health (CVS) settled with four California counties and the state's Department of Agriculture after allegations that its packaging didn't accurately represent how much product it contained.

The $225,000 settlement, first reported by Fresno, California's ABC30, covers a few store-brand beauty products, mostly wrinkle creams but also an anti-frizz hair product. The report says the points of contention were alleged false bottoms and sides that improperly exaggerated the amount of product in the container.

Related: No more cigarettes at CVS

The money will mostly go to Fresno, Yolo, Sacramento and Shasta Counties, ABC30 reports. A CVS spokesman confirmed the settlement and said the company would do better going forward.

"While manufacturers generally choose the container size, CVS/pharmacy has agreed to redesign the packaging of certain CVS Brand items," he wrote in an email.

First Published: October 3, 2014: 6:32 PM ET

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GoPro angers investors with charity gift

NEW YORK (CNNMoney)

Sounds great, but there's one catch that's angered investors, who sent shares down 7% Thursday.

JPMorgan, the IPO's underwriter, is letting Woodman's charity sidestep a rule that prohibits insiders from selling stock within the first 180 days of a company's IPO, which could potentially send shares lower.

The bank made an exception and will let the charity sell the shares starting Friday, Oct. 3. That's nearly two months before the lockup period expires late November, which is when GoPro (GPRO) managers and directors can start selling.

GoPro's head honcho just announced his new charity, called the Jill + Nicholas Woodman Foundation, on Wednesday. A press release says that details about its mission will be announced "at a later date."

Related: Is GoPro becoming a movement?

Shares of the extreme-camera maker closed Thursday at $85.40, well above its June IPO price of $24. That makes the gift from Woodman and his wife worth $450 million. GoPro didn't say whether the charity will sell its shares immediately.

JPMorgan (JPM) and GoPro declined to comment.

The gift represents a small share of Woodman's holdings; at the time of the IPO he held about 52.4 million shares, according to SEC documents.

GoPro stumbled a bit in early August when it issued its first earnings report, which failed to meet investors' lofty expectations. But the stock has gone nearly vertical since the last week in August, until Thursday.

First Published: October 2, 2014: 5:28 PM ET

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