Posts by Lauren Lyster
- Daily Ticker1 day ago
On Tuesday President Obama released his 2015 budgetputting the "final piece of his inequality agenda on the table," writes Roosevelt Fellow Mike Konczal. Konczal cites health care reform, Obama's efforts to raise the minimum wage and the proposed expansion of the earned income tax credit as key parts of this "inequality" agenda.
- Daily Ticker3 days ago
Ikea, the world's largest furniture retailer, has mastered making $19.99 coffee tables and couches for less than $500. Selling this cheap furniture has amounted to billions for not only the chain's founder, but his children, too.
It was already known that the Ikea empire had made founder Ingvar Kamprad Sweden's richest man and the seventh richest person in the world, with a net worth between $47 billion to $48 billion. But now Bloomberg Billionaires has discovered that Kamprad's three sons -- Peter, Jonas and Mathias -- are also billionaires.
"Kamrad set up Ikea in this odd, foundation-like structure, where he basically said he gave it away to charity," Matt Miller, managing editor of Bloomberg Billionaires tells us in the accompanying video. "But in Europe, you typically set up foundations ... essentially to protect your assets from taxes, and it's basically estate planning."
- Daily Ticker5 days ago
Hundreds of students and youth organizers were arrested protesting the Keystone Pipeline XL outside the White House Sunday, CNN reported, acting out a human oil spill while expressing climate and environmental concerns over the proposed pipeline.
Meanwhile, billionaire investor Warren Buffett in an interview with CNBC Mondaysaid he thinks "probably that the Keystone pipeline is good for the country," even though it could take some business away from the rail subsidiary Berkshire Hathaway owns, which transports oil.
- Daily Ticker9 days ago
Call it a drug trade for investors. Todd Harrison, CEO and founder of Internet-based financial media company MInyanville, thinks cannabis "will be the single best investment idea for the next ten years."
But while the public has watched recreational marijuana take off in Colorado this year, how can they profit from it as an investment theme?
- Daily Ticker10 days ago
More Americans are ditching their spouses, their jobs and their budgets. And that could actually be a good thing, as it may signal the economy is on the up-and-up. The number of people quitting their jobs has been on the rise, with about 2.4 million people leaving their jobs in December. And in November, the percentage of people choosing to leave their positions - the so-called “quit rate” - hit 1.8%, its highest point so far in this recovery, according to the Labor Department. That's up from a September 2009 low of 1.2%.
- Daily Ticker11 days ago
Tuesday morning MtGox, the site of what was the largest bitcoin exchange at one point, was nothing more than a blank landing page. The site's contents unavailable, the exchange appeared to be on the verge of collapse -- a number of Bitcoin companies announced MtGox was planning to file for bankruptcyafter technical problems and an apparent major theft. Customers have been unable to withdraw their money since Feb. 7.
(UPDATE: Later in the day, the site posted this message to customers: "In light of recent news reports and the potential repercussions on MtGox's operations and the market, a decision was taken to close all transactions for the time being in order to protect the site and our users. We will be closely monitoring the situation and will react accordingly.")
- Daily Ticker16 days ago
With Facebook's (FB) acquisition of the text-messaging app WhatsApp for $19 billion in cash and stock, the jaw-dropping price tag is raising dot-com bubble comparisons along with nods of approval.
But one thing is not up for debate: the acquisition will make WhatsApp's founders billionaires.
For 38-year-old cofounder Jan Koum, it's a far cry from where he started in this country. As a teenager, his family relied on food stamps after emigrating to the U.S. from the Ukraine.
- Daily Ticker18 days ago
As Bitcoin ATMs head for the United States and a popular personal finance app helps users track the digital currency, the cryptocurrency faces setbacks from hacking to regulation and volatility, threatening its move mainstream.
Robocoin announced Tuesday that the first Bitcoin ATMs in the U.S. will come to Seattle and Austin later this month, according to Reuters. It's considered to be the latest move for the digital curreny toward the mainstream. The ATMs will allow users to buy and sell Bitcoin using a government-issued ID.
Late last month, the popular personal finance app Mint (from Intuit) made a deal with Bitcoin digital wallet company Coinbaseto incorporate Bitcoin transactions into Mint. It became the first app to make this move.
- Daily Ticker18 days ago
This week we'll get data on housing and inflation -- the latest economic indicators to help economists gauge how the economy is doing and to help investors navigate markets.
But if you take a cue from Zachary Karabell, author of The Leading Indicators: A Short History of the Numbers That Rule Our World,you might want to ignore them.
- Daily Ticker22 days ago
Tom Perkins is at it again. After comparing what he believes is a progressive "war" on the American wealth today to Nazi attacks on Jews ahead of the Holocaust last month, the venture capitalist and near-billionaire is now out with another big idea: T.
When asked for one big idea that would change the world at a speaking engagement in San Francisco Thursday, CNN reports he offered up the "Tom Perkins system," arguing that taxes should be "like a corporation. You pay a million dollars in taxes, you get a million votes." And "you don't get to vote unless you pay a dollar of taxes."