Thursday, January 31, 2008

Consumer: The States and Gift-Cards

An interesting article from Business Week on those gift cards that never seem to get used. The Scramble for Gift-Card Cash:

"A lot of states—roughly half—claim that at least part of the unspent balances should go to them under their unclaimed-property laws. Other states let that excess dribble back onto retailers' income statements under varying conditions. Naturally, stores issuing the cards are scrambling to ensure the most advantageous accounting."
Not that this helps those buyers of cards from businesses who go under before the anyone can use the cards.