Rob Black’s Winners and Losers: Parents cash out average of $1K on prom

SAN FRANCISCO (KRON) — On today’s edition of Rob Black’s Winners and Losers, our financial expert Rob Black and KRON 4’s Mark Danon to talk about airline prices, prom season and Apple’s decline in iPhone sales.

Earlier this month, Alaska Airlines purchased Virgin America for $2.6 billion, making it America’s fifth-largest airline. The have no plans to raise airfares, saying both airlines are “known for excellent service and fares that are lower than legacy carriers…” on its website. And travel experts agree.

American parents are accustomed to being treated like human cash machines during prom season, spending close to $1,000 to guarantee that a high school dance doesn’t become an emotional catastrophe. A hundred bucks for tickets, and hundreds more for fancy clothes–even the corsage costs $20. And before any of that begins, your kid wants $300 for a proposal. Wait, a what?

Not since 2003, the year the third generation of the iPod was released along with the iTunes music store, has Apple reported a year-over-year decline in quarterly revenue. That’s 51 consecutive quarters of growth. Yet a sudden slump in iPhone sales, which account for about two-thirds of the business, is expected to push fiscal second-quarter revenue down a whopping 10 percent, when the Cupertino, the California-based company reports results on Tuesday.

Rob Black answers David’s question: Will tech sexy IPOs return?

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