internet was invented by a DARPA scientist ... businesses are built on the ideas of scientists and technologists. But as an old MIT cartoon succinctly sketched: a MBA whipping a EE in the work place. Our society used to value skill workers, now they are liabilities.
Lang, The demise of unions may be the most significant factor that CEOs are making 300 times more their their rank and file. If voters do not support collective bargains, don't complain when your numbers get called to the pink carpet:
Total direct compensation for 300 CEOs at public companies increased 5.5% to a median of $11.4 million in 2013, concluded an analysis by The Wall Street Journal and Hay Group. A separate AFL-CIO study of CEO pay across a broad sample of S&P 500 firms showed the average CEO earned 331 times more than the typical U.S. worker last year. In 1980, that multiple was 42.
I still can't get over this guy walking 21 miles daily IN ALL SORTS OF WEATHER to-fro from a $10.55 hourly job.
At 3 miles and hour pace, that is 7 hours. At 4 miles an hour brisk walk, it is over 5 hours. At 5 miles an hour jog (12 minutes mile), that is 4.2 hours !!!!!!!! Unreal.
vt, Yes, consequences of much improved job market. That was why Obama had focused and talked about jobs jobs jobs all the time while obstructionists focused on ebola, same sex marriage, repeal obamacare, raise military spending, Canadian pipeline, all out abortion ban, repeal derivatives rule in dodd-frank ...
Give it rest a rest already.
Compare to your tiny outpost, California has been so warm that trees and roses are flowering weeks earlier than norm. Today, we expect to hit 70's in the shade in Bay Area and 80's in SoCal.
Near 300K initial claims number is still bullish for the job market. If you look back at the historic data, rare to have 300K IC data.
Lower oil prices will hit the energy sector but great for many other sectors. There is nothing to debate as all of us with gas-powered automobiles find more dollars left weekly after filling up.
DOW and S&P within fractions of a percent to all time highs ... thanks to lower consumer spending at gas stations and hope for rate hikes measured at a slower pace.
exactly what he has been doing, waiting and coercing the rest of the Islamic Nations to take the lead, just as he has been waiting for the EC countries to defend their own borders against Putin.
It is a trend for at least a decade. Network wants someone who can read the reads with a pretty face. Lately, the anchors all seemed to be able to gesticulate with acrobatic facial muscles, usually with a grin even when reading war crimes and tragic deaths. Worse are their pick of "news" that used to be on entertainment tonight or found in tabloids.
Even at 15% rate, less than total payroll tax rate paid by burger flippers, they don't want to pay and to repeal Dodd Frank.
According to the WSJ, BofA's U.S. banking subsidiary for years has helped finance transactions from the bank's European investment bank arm which, among other things, helped hedge funds avoid taxes on stock dividends. According to the Journal, BofA has made about $1B in revenue from "dividend arbitrage" since the financial crisis.
The practice - which drew the attention of regulators both for reputational risk as well as the need to wall off insured deposits from risky trades - has ended, says a bank spokesman
key stats from Bloomberg:
Job openings in the U.S. rose to the highest level since 2001 as employers faced improving demand for their goods and services.
The number of people hired climbed to 5.15 million in December, the most since November 2007, from 5.05 million. The hiring rate increased to 3.7 percent after 3.6 percent in November.
Some 2.72 million people quit their jobs in December, the highest in four months and up from 2.66 million the prior month. The quits rate, which shows the willingness of workers to leave their jobs, was unchanged from the prior month at 1.9 percent and compares with a 2 percent reading when the recession started more than seven years ago.
About 1.73 million were dismissed from their jobs in December, up from 1.66 million the prior month. In the 12 months ended December, the economy created a net 2.9 million jobs, representing 58.3 million hires and 55.4 million separations.
About 1.7 unemployed people were vying for every opening in December, compared with 1.8 when the recession began.
"Jimmy Swaggart and Jim Bakker, step aside!" That was how TV legend David Frost introduced TERRY SMITH on Inside Edition. The pastor of Canyon Creek Baptist Church in Richardson, Texas, Dr. Smith refuses to ask local businesses for a pastor's discount ... as he appears to prefer the five-fingered kind. The good reverend was actually convicted of shoplifting condoms from a local grocery store -- and he certainly had a need for them. According to a 1989 ruling by Texas District Court judge Catherine Crier, he was having extramarital affairs with church members who came to him for marriage counseling. It is therefore no surprise that Smith has been a long-time director of BOB LARSON'S ministry.
By Thomas C. Frohlich 2 hours ago
Planned job cuts among U.S. companies in 2014 totaled 450,531 through November, down 5.8% compared to the same period in 2013. According to global outplacement firm Challenger, Gray & Christmas, this was the lowest count of year-end job cut announcements since 1997.
No company announced more layoffs in 2014 than Hewlett Packard (HPQ), which announced a total of 21,000 job cuts. Based on data from Challenger, Gray & Christmas, 24/7 Wall St. reviewed the companies that planned the most job cuts last year.
In some cases, companies shed jobs in an effort to return to profitability or because they become insolvent. However, in an interview with 24/7 Wall St., Challenger, Gray & Christmas CEO John Challenger explained that this is not the case for most companies. Particularly in a strong economy, many companies are “doing regular strategic evaluation of their business looking for areas of redundancy, [and] looking for ways to make their organization a tighter ship.”
James Robertson's marathon commute to work will be slashed by hours, now that the hard-workin', hard-walkin' hero finally got a car.
Robertson, whose story in Sunday's Free Press about his 21-mile daily round-trip commutes made him an overnight media celebrity, registered total surprise Friday as he walked into the Suburban Ford dealership in Sterling Heights, expecting just to get some brochures. Instead, his dream car was there waiting and ready.
Unlike most people, Robertson didn't have to kick the tires or haggle over the price. Nor did he have to run any numbers to see if he could afford it. All of that was done for him.
Robertson, true to his modest roots and humble nature, will drive the model that he said he admired, a Ford Taurus: "It's simple on the outside and strong in the inside — like me."
Helping Robertson secure the car, which the dealership gave him as a gift, was Blake Pollock, a banker who befriended him during the factory worker's trek to work.
"I said, 'You really want a Taurus, right.' I was so scared that, at the last minute, he might say, 'Oh, I changed my mind to a Toyota' or something," Pollock said,
Putting any doubts to rest, Robertson broke into a grin as he sat in the 2015 car, with a sticker price of $35,215. David Fischer Jr., co-owner of the Suburban Collection, which owns the dealership that awarded the car, asked, "So, how do you like it?" "I don't like it," Robertson said, "I love it. It's just as I had envisioned.
Only the upper income folks can max out the 729 plans. Median middle class family income is less than $53K before taxes. After maxing our 401K, IRA, HSA contributions and fixed expenses (rent/mortgage, insurances, car expenses, food, medical, clothing, utilities etc), there is precious little left for 729 contribution.
No $70K is not rich and that's why many top tier private universities will waive tuition ($50K+) entirely for kids with family income less than $65K. So, it is not always a good idea to have a 729 plan which must be spent first before any financial aid. I doubt many of these middle class folks know about that. Last, these 70% might have $10K in those plans vs $370K for the one percenters.
fan, After the tax law change (which was made permanent in 2006), amounts withdrawn to pay for college were totally tax free. 529 plans thus became a kind of Roth IRA for college savings–you didn’t get any up front tax break (except maybe on your state income tax), but you could rest assured that your college nest egg’s growth would face no taxation when it came time to make tuition payments.
The Obama plan aims to turn back the clock, once again taxing earnings growth in 529 plans as ordinary income. This is a direct and clear tax increase on middle class families sacrificing to save for college, and it’s likely to result in a mass divestment from this type of savings.