Spend Matters Afternoon Coffee

Cost cutting.
BP cost-cutting blamed for 'avoidable' Deepwater Horizon oil spill -- The oil spill in the Gulf of Mexico was an avoidable disaster caused in part by a series of cost-cutting decisions made by BP and its partners, the White House oil commission has concluded.

Southwest does something smart.
Southwest Airlines Revamps Loyalty Program -- Southwest Airlines Co. said Thursday it plans to revamp its frequent-flyer program in a bid to add revenue and boost its appeal to high-value business travelers.
The new loyalty plan will use points based on the ticket cost rather than miles flown to calculate rewards, and allow passengers to redeem them for international flights for the first time, resolving what executives said was a key weakness of the existing program.

Social networking.
Clive Thompson on How Tweets and Texts Nurture In-Depth Analysis -- We're often told that the Internet has destroyed people's patience for long, well-thought-out arguments. After all, the ascendant discussions of our day are text messages, tweets, and status updates. The popularity of this endless fire hose of teensy utterances means we've lost our appetite for consuming--and creating--slower, reasoned contemplation. Right?

Investing? Listen to a lady.
What Men Can Learn from Women to Invest More Profitably ...when it comes to investing, women outperform men. In a landmark study titled Boys Will Be Boys: Gender, Overconfidence and Common Stock Investment professors Brad Barber and Terrance Odean of the University of California, Davis, documented that men traded 45 percent more than women and ended up having their net returns reduced by almost a full percentage point compared to women. The study cited overconfidence as the root cause of the problem.

- Sheena Moore

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