Posts by Nicole Goodkind
This week in weird business news…
Moving out of mom and dad’s house is tough—especially when your mother is Oklahoma Governor Mary Fallin and the property is the Governor's mansion.
Fallin told “The Oklahoman” in an interview that her 28-year old daughter, Christina Fallin, has been living in a trailer behind the mansion since April. This sparked some concerns amongst Oklahomans, with one writing to local news channel KFOR to ask, “Is it true that Mary Fallin’s daughter is living in a trailer on the Governor’s mansion property? That is state property! Who is paying her bills? Oklahoma taxpayers?”
It turns out that the trailer is in violation of state policy. According to the Capitol-Medical Center Improvement Zoning Commission, a trailer cannot be kept on state property and that includes the Governor’s mansion. Christina will vacate the property by Sunday.
The republican Governor also told KFOR that family comes first. "I love my family. My daughter's terrific… if she says, 'Hey, mom, I need some help,' I'm not going to turn her down."
“I don’t think we need a correction,” says David Joy, chief market strategist at Ameriprise. “Quite frankly I think the market is fairly valued right now.” Markets have come down a bit bringing some of the froth out of valuations, he says. Joy believes that investors are currently waiting—they want to see when the Fed will raise rates, and whether the U.S. economy can accelerate fast enough to boost earnings. He expects that there will be mini corrections in the market, but isn’t expecting a big pullback anytime soon. A correction is defined as a pullback of 10% or greater.
In the U.S., bears worry that Chinese contagion will reach U.S. markets. Joy believes there is reason to be concerned to a certain extent. “China is the world’s second largest economy,” he says. “If the Chinese economy is slowing down that will impact us.”
More from Yahoo Finance
At Ford’s (F) material sustainability lab in Dearborn, Michigan you’ll find a hodgepodge of seemingly random junk—shredded money, dandelions, tomato stems and tree pulp. All of these items would typically be headed towards a landfill, but with the help of senior technical lead Deborah Mielewski they’re being turned into car parts instead.
“My job is to replace petroleum-based plastics with plant-based materials and I’ve been at it for about 15 years now,” she explains. Mielewski is currently developing a process to turn dandelion stems into rubber, tomato parts and old money into plastic and algae into foam. She’s already created a soy-based foam that’s used in the seats of a range of Ford vehicles.
Watch the video above to see a tour of the lab.
Nicole Goodkind at Yahoo Finance 5 days ago
A secret underground laboratory evokes images of mad scientists or multibillion-dollar particle colliders to mind, not sports cars. But Ford (F) went to great lengths to keep its 2016 GT quiet and built just that. In an unassuming basement corner of Ford’s Product Development Center in Dearborn, Mich., is an unmarked door that leads into the design lab, formerly a large storage closet. During the early stages of design, only 25 employees had access to the room and often worked at night or on weekends. They weren’t even allowed to tell their families what had them keeping such odd hours. The project had a codename: Phoenix.
Only 250 models of the 2016 GT will be produced and will be priced to compete against Ferraris and Lamborghinis. While Ford won’t disclose how fast the cars will go, Callum assures that they’ll be “fast enough to lose your driver’s license many times over.” Cars at Le Mans typically go over 200 miles per hour.
Nicole Goodkind at Yahoo Finance 6 days ago
The minimum wage is going up in a lot of places, such as New York, Los Angeles, San Francisco, Seatlle and Chicago. Some workers will soon earn a starting wage of $15 per hour, more than double the federal minimum of $7.25.
But the sharp boost in the lowest legal wage is largely unprecedented, and some economist are warning of dire consequences. A new study published by the American Action Forum and Manhattan Institute finds that boosting the minimum wage nationwide to $12 or $15 would end up hurting many of the people it aims to help. Yahoo Finance has an exclusive first look at the research, which finds that a Federal minimum wage increase to $15 per hour would cost the economy 6.6 million jobs and that only 6.7% of the extra $105.4 billion in new wages would go to people in poverty.
“If you raise the minimum wage to $15 per hour, 55 million workers will see their wages affected—we looked at what happens after their wages are affected.”
Nicole Goodkind at Yahoo Finance 10 days ago
Chris Farley’s SNL character Matt Foley thought living in a van by the river was a bad thing but a Queens, NY Airbnb host is charging for the privilege.
The host who goes by the name Jonathan has at least six vans that he parks in the Long Island City neighborhood of New York and rents for $22 to $99 each night. Guests are not allowed to move the car. The listings offer sweeping views of Manhattan in a safe, quiet neighborhood. The listings also make it clear that the vans have no wifi, power, air conditioner, shower or bathroom. Guests are encouraged to use nearby public bathrooms and to leave the van during the daytime when the heat can be uncomfortable.
Still, at least 53 people have opted to stay in the vans instead of pricier hotels and apartments and the reviews are mostly positive albeit entertaining. “Not being able to shower was definitely a negative seeing as New York City isn't very clean so you get dirty easily,” writes a guest. One guest wrote that they used baby wipes to stay clean, another got creative with a sponge and a bottle of water.
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Nicole Goodkind at Yahoo Finance 10 days ago
On Monday, Hillary Clinton held a live question and answer session on Facebook. Clinton responded to users’ questions, posted gifs, exclaimed in all-caps and posted links to her campaign store during the hour-long chat. The session was the first of its kind but will likely lead the way for other candidates and secures Facebook’s place as an integral election tool.
While the 2012 presidential candidates recognized the importance of social media in campaigning, this is perhaps the first election where a decent social media strategy is now a vital part of any campaign. Many presidential hopefuls announced (or announced that they would be announcing) their candidacy on Twitter, post in "throwback Thursdays" on Instagram, pose for selfies on the trail and even participate in Snapchat’s election coverage.
Senator Lindsey Graham proved that candidates are thinking about “how to go viral” by responding to Donald Trump giving out his phone number by participating in a video Wednesday that featured him destroying his cellphone via a blender, golf club and toaster oven.
Nicole Goodkind at Yahoo Finance 13 days ago
LeiLei Secor is a 19-year old University of Virginia student. She’s spending her summer working for her local congressman near Albany, New York where she grew up. She’s also the owner of Designed by Lei, an Etsy store that has made more than $100,000 in three years. She’s using that money to pay her way through college.
Secor first opened her store in the summer of 2012 after an unsuccessful job search (Sound familiar? Check out our interview with millionaire makeup sensation Michelle Phan who began her career after being rejected by Lancome). “I liked making jewelry as a hobby and then I came across Etsy and thought it would be perfect for me,” she tells Yahoo Finance. Secor began studying how to sell online with a particular focus on what worked for some stores and didn’t work for others.
The Devil is in the detail
Persistence is key
Nicole Goodkind at Yahoo Finance 18 days ago
In the summer of 2011, about three years after the U.S. government issued a $700 billion bailout to hundreds of banks, and two years after Goldman Sachs CEO Lloyd Blankfein announced he was “doing God’s work,” John LeFevre launched @GSElevator on Twitter.
“It started as a joke in a bar,” says LeFevre. He was inspired by the Twitter account @CondeElevator which chronicled supposed conversations in the Conde Nast elevator. “I thought ‘wow if people find this entertaining they would be blown away by some of the things that [bankers] say and do.’” Though he worked for Citigroup, he chose to use Goldman because he found that “Goldman Sachs' culture is an amplified version of broader Wall Street culture.” The material came directly from things LeFavre’s friends had said and overheard over their years working at banks.
The Tweets were classist, sexist and all kinds of prejudiced—and they led to 719,000 followers and a book deal.
The book claims that the Wall Street culture encouraged bankers to give clients intentionally bad advice and collude on fees. “If our [Bloomberg terminal] chats ever came out they would ruin careers and marriages,” says LeFevre.
More from Yahoo Finance
Nicole Goodkind at Yahoo Finance 23 days ago
This week in weird business news…
Boy bands are known for their unique fashion sense (see any group photo of *NSYNC).
On Wednesday a member of the Glasgow-based group Rewind took quirky style to a whole new level. In order to avoid a 45 pound (about $70 USD) baggage fee on an EasyJet flight from Essex to Glasgow, band member James McElvar put on 12 layers of clothing. That’s right… six T-shirts, five sweaters, three pairs of jeans, two sweat pants, two jackets and two hats. Shortly after boarding the plane he passed out from heat exhaustion and was treated by an off-duty medic who happened to be on the flight.
“The woman said either one bag went in the hold or we weren’t getting on,” he explained to The Sun. “The rest of the band had gone through so I couldn’t give them any of the clothes. I was told I’d either have to pay a £45 fee to get it on the plane, get the flight the next morning, bin the clothes or wear them.” Once the plane was in motion, McElvar began to undress but not quickly enough to prevent overheating.
RyanAir, a discount European airline that rivals EasyJet has offered the band two checked bags for free on their next trip.
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