A roundup of today's CNNMoney news:
Average tax refund in 2010: $3,003: The IRS doled out refunds totaling $328 billion in 2010, a nearly 3% rise from 2009. The jump was one of the biggest in years, thanks in part to several tax credits.
Spending fast: I paid off $18,000 in a year: This freelance photographer set out to cut her debt by spending ONLY on necessities. That meant no more eating out, no more movies, no more shopping. It was tough … but it worked.
The world's fastest electric car (video): Venturi Motors, in collaboration with Ohio State University, set a world record for fastest electric car.
Autoworkers get fat profit-sharing bonuses: GM, Ford and Chrysler want to tie new labor contracts to profits, vehicle quality and other performance measures, rather than straight wage increases. That could bode well for autoworkers.
California insurer bows to 59% rate hike backlash: A week after announcing that it would increase premiums by as much as 59%, Blue Shield of California has hired an outside expert to review its move, promising to make refunds to its policy holders, with interest, if the new rates are found to be excessive.