Posts by Nicole Goodkind

  • Move over Danny Meyer, here comes Marcus Samuelsson

    Nicole Goodkind at Yahoo Finance 1 day ago

    Marcus Samuelsson is a busy man. With 11 restaurants spanning four countries, six books, and a judging job on the Food Network, he’s carving out a food and lifestyle empire for himself.   He’s also following in the footsteps of other well-known restaurateurs like Danny Meyer and Bobby Flay who have dominated both high- and low-end dining experiences. Samuelsson balances restaurants like Red Rooster, with entrees hovering around the $30 mark (and a favorite of the Clintons), with his restaurant Street Bird, which sells a whole chicken for $24.   Like Meyer's Shake Shack, Samuelsson is considering taking Street Bird public. “Right now, we’re small, we’re private,” he says. “But with something like Street Bird, maybe one day.”   With restaurants spanning both wallet size and location, Samuelsson has a unique look into the minds of the consumers around the world. “We have restaurants in Scandinavia, Sweden, Norway. We’re opening in London, and we have places in Bermuda and New York,” he says. “Our consumer base is both local and global. But the one thing that does not change is value.”   The millennial-driven experience economy is impacting all businesses, and...

  • T. Boone Pickens: Hillary doesn’t know what she’s talking about

    Nicole Goodkind at Yahoo Finance 2 days ago

    When it comes to Democratic presidential candidates Hillary Clinton and Bernie Sanders, “neither one of them know what they’re talking about,” says T. Boone Pickens.

    The best candidate for the energy industry would likely be Donald Trump, according to the American oil magnate.

    Ted Cruz has stated that he’d rein in the EPA if elected and work to get rid of other regulations and oversights that he says are “endangering” the gas and oil industry, but Pickens doesn’t see him as electable. “He’s not overwhelmingly liked,” he says. “He’s not a real popular guy.”

    Some conservatives have expressed worry over Trump’s energy policy. In the past he’s attacked Cruz for taking money from “big oil,” and industry experts are concerned with his lack of specific policy on the topic. Trump's official website explains his positions on the Mexican wall, healthcare reform, and Second Amendment rights, but doesn’t touch on energy policy. Still, Trump has openly criticized New York for its fracking ban and has been endorsed by Harold Hamm, the shale pioneer.

  • Tony Robbins explains why being a businessman is bad for Trump

    Nicole Goodkind at Yahoo Finance 4 days ago

    Donald Trump is 68% of the way to receiving the Republican Party nomination for president. As of today, he has 846 delegates out of the 1,237 needed to secure the official nomination. In comparison, Ted Cruz has 559 delegates, or 45% of needed delegates. “What’s great about Donald Trump is that what you see is what you get,” says Tony Robbins, author of MONEY: Master the Game . Robbins has advised both Trump and the Clinton family in the past. But while Trump touts his business experience as proof he’ll be able to “Make America Great Again,” Robbins says that might not be the case.   “In the beginning of a business you usually only succeed by not listening to anyone, and eventually that pattern that made you successful bites you. That’s why 96% of all businesses fail within a 10-year period,” he says. “There’s a similar pattern with Donald where he’s being reinforced during the primaries for certain behaviors but the negative effect for the general population may cost him there if he doesn’t pivot.”   Politics is not business, says Robbins. It requires more nuance and compromise. However, “The one clear thing is that his rivals clearly misunderstood how far he would get...

  • AOL is cool again: Steve Case

    Nicole Goodkind at Yahoo Finance 14 days ago

    Steve Case helped usher in the age of Internet when he founded AOL in 1985. Thirty-one years later, he’s predicting a new kind of revolution: the Internet of everything.

    In his book, “The Third Wave,” Case, who now heads up venture-capital firm Revolution Growth, outlines what he believes the three phases of the Internet have been thus far. Between 1985 and 1999, the foundations of the Internet were laid, he says, by companies like AOL, Apple, IBM, and Cisco. From 2000 to 2015 we saw the app economy and mobile revolution with things like search, social media and e-commerce from companies like Amazon, Facebook, and Google. Case believes we’re in the midst of a third online revolution with universal connectivity that is transforming all major sectors of our economy. “This will revolutionize healthcare, education, financial services, food, energy, and transportation,” he tells Yahoo Finance.

    But first, an economic downturn

    AOL is cool again

    The future of work

    Lessons from Pizza Hut

  • Advice I'd give myself at 25: Danny Meyer, Max Levchin and more

    Nicole Goodkind at Yahoo Finance 23 days ago

    Hindsight is 20/20—ask any entrepreneur. We did just that. We gathered some of the best (and most successful) minds across a number of fields and asked them what advice they would give to their 25-year-old selves if they could go back in time.

    Steve Chen, founder, YouTube.com and Nom.com

    I’d tell myself to maybe hold off a little bit before selling the company YouTube to Google. I was still in my 20s at the time.

    Danny Meyer, CEO and founder, Union Square Hospitality Group

    I would say don’t get so upset about making mistakes as long as the mistakes you’re making are honest mistakes that didn’t lack integrity. I think that my 25-year-old self was always way too hard on myself for making honest mistakes. What I’ve learned through all these years is that mistakes are the greatest renewable resource for human beings. We make more of them and better mistakes than any animal on earth. As long as you’re willing to learn from it and teach from it, you can generally end up in a better position.

    Max Levchin, co-founder, PayPal and CEO of Affirm

    Andrew Zimmern, host, “Bizarre Foods"

    Pete Cashmore, CEO and founder, Mashable

  • Max Levchin wants to revolutionize the $2.6 trillion consumer credit market

    Nicole Goodkind at Yahoo Finance 23 days ago

    Max Levchin, co-founder of PayPal, wants to revolutionize the $2.6 trillion consumer credit market. It’s a lofty goal that occupies most of Levchin’s waking hours and some of his sleeping hours, too. When I met up with him in Austin recently, he was groggy-eyed from pulling an all-nighter. Still, he perks up when discussing Affirm, his online payment platform which lends money to users for online purchases.

    “It’s hard to get millennials to trust banks,” he says. “But that’s not a problem, it’s an opportunity.” Many moons ago banks were neighborhood based, people knew their bankers and had personal relationships with them, but today that’s rare. “The reality of today, especially in light of the 2008 financial collapse, is that people don’t trust their banks, and they don’t like their banks. And if you’re a young person with no pre-existing relationship, you have no reason to be excited about your bank.

    Affirm currently works in partnership with a number of online retail stores including Casper, Peloton, and TheRealReal.

    But, Levchin isn’t backing down. He sees a huge industry in need of disruption, and he’s going for it.

  • The $1 million tax deduction Americans aren't taking advantage of

    Nicole Goodkind at Yahoo Finance 25 days ago

    A mortgage interest deduction, or MID for short, allows taxpayers to deduct any mortgage interest paid on their primary or secondary home — up to $1 million each year.

    Let’s do some math: Say you buy a home and take out a 30-year mortgage worth $200,000 with an interest rate of 4.5 percent. If your combined state and federal tax rate is 31 percent, you could save an average of $1,703 each year by using a mortgage interest deduction. That brings your interest rate down to just 3.1 percent.

    Seems like a pretty good deal, right? So why, then, did two-thirds of American homeowners choose to forgo this option altogether?

    Perhaps because it meant complicating their taxes a bit. In order to receive an MID, you have to itemize your taxes instead of just filing for a standard deduction. In 2015, the standard deduction for a head of household was $9,250. If your home expenses add up to less than that, then there’s no point in taking the time to itemize your taxes: The standard deduction covers them.

  • One of NYC's swankiest restaurants recently banned tipping and it just booked its most profitable month ever

    Nicole Goodkind at Yahoo Finance 1 mth ago

    Danny Meyer, CEO of Union Square Hospitality Group and creator of Shake Shack, doesn’t want you to tip his servers. He’s debuted his “gratuity included” program, which raises the price of food but eliminates the need to pay for service, at his upscale New York eatery The Modern—and so far so good.

    Although prices for menu items have increased to account for a tip averaging 21%, The Modern just experienced its most profitable month ever. The restaurant has also seen applications for kitchen jobs increase by 270% and applications for server jobs increase by 200% since the change.

    He’s hoping the trend catches on.

    It’s a business decision

    There are obvious arguments that can be made against eliminating voluntary gratuity. While high-end urban restaurants like The Modern can afford to raise prices by 21%, chains and low-cost restaurants that use affordable food as a selling point may suffer. Some argue that without a tip to earn, waiters wouldn’t have an incentive to treat customers hospitably. Others say that a good waiter can earn far more from tips than if they were making a regular wage.

    A brief history of tipping

    Hillary Clinton jumps in

    The changing food landscape

     

  • Now I Get It: Renting vs. Buying your home

    Nicole Goodkind at Yahoo Finance 1 mth ago

    Deciding whether to buy or rent a home is one of the most difficult choices that anyone has to make. There’s a lot to consider, and the costs and benefits of renting versus buying are complicated. But don’t worry-- we’ll break it down for you and leave you saying “Now I Get It.”

    Maybe you’re ready to move but you’re not sure if you should rent another place or take the plunge and buy a house. T he first thing you should do is compare sale and rental prices in your community. And don’t just look at the sticker price. W hen you buy you’ll need to factor in your mortgage principal and interest payments, homeowners insurance, property taxes and how long you plan to stay in your home. You will also want to budget 1-3% of the cost of your home each year for repairs and updates.

    Seem overwhelming? It can be. But that’s why we have the internet. There are plenty of calculators online that will do the legwork for you and tell you what the real monthly payments on a home will be.

     

  • Bernie Sanders has more to learn about racial inequality: DeRay Mckesson

    Nicole Goodkind at Yahoo Finance 1 mth ago

    Candidates in the 2016 presidential elections need to understand the power of the black vote.

    DeRay Mckesson, well-known black rights activist and Baltimore Mayoral candidate, has been watching the Democratic race for president closely. “I’ve met with Bernie, and I’ve met with Hillary,” he tells Yahoo Finance. “I think that Bernie is growing in his understanding of race.”

    Democrats Hillary Clinton and Bernie Sanders have both been vocal on issues that impact the black community. Clinton recently spoke about systemic racism in the United States in front of a mostly black crowd in Harlem. In Chicago, she told crowds that each year the Windy City’s schools suspend, on average, 32 out of 100 black children and only five out of every 100 white children.

    In a memorable debate moment that was shared many times over, Sanders boomed, “We need to combat institutional racism from top to bottom, and we need major, major reforms in a broken criminal justice system.”

    “I think [Bernie Sanders] has a firm understanding of economic inequity [but] … with his understanding of racial inequity, he is still learning, and that statement made it clear that he has more to learn,” says Mckesson.