Business Minute for Monday, October 14, 2013
The Electronic Benefits Transfer, better known as EBT, the system that allows recipients of government food stamps to purchase goods using a digital card with a set spending limit, went a little haywire for a few hours this weekend affecting 17 states across the country, removing those limits. In a few Louisiana Walmarts, customers ran amuck stocking up on goods once they noticed the glitch.When Walmart was notified of the problem, they told their employees to keep the registers ringing so families could still get food on the table.The problem was fixed a short time later, which was evident by the piles of inventory left abandoned in the aisles.
Officials say the shutdown was not to blame for the problem.
STOCK MARKET UP
Stocks rose Friday as investors continue to keep an eye on Congressional shutdown and debt ceiling talks. The Dow Jones jumped 111.04 points to close at 15237.11 Friday, the Nasdaq rose 31.12 points settling at 3791.87, and the S&P 500 shot up 10 points to end the week at 1703.20.