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☆ Extreme heat takes toll on outdoor workers
▼ + stars: | 2024-06-21 | by ( Alicia Wallace | ) edition.cnn.com time to read: +11 min

There’s little to no escape from sweltering temperatures for construction workers like Eva Marroquin, who cleans work sites in Austin, Texas, and has worked in the industry for 17 years. Since 2010, she’s worked closely with the Workers Defense Project, an organization that advocates for protections for low-wage, immigrant workers in the Texas construction industry. Slowing down small businessesIt’s barely just now summer, and heatwaves are already slowing down small businesses, according to Homebase, which provides payroll software to more than 100,000 small businesses, covering 2 million hourly workers. “I think anything that impacts small businesses is affecting the economy as a whole,” he said, noting how small businesses account for half the jobs in the country. For herself, the high heat is more of an inconvenience; the car’s hotter and she just needs to pack some extra water.

Persons: Eva Marroquin, ” Marroquin, Christine Bolaños, she’s, Chris Lafakis, ”, Joshua, Gina Ferazzi, Gregory P, Casey, Jenny Schuetz, Brian Snyder, aren’t, “, John Waldmann, They’re, Katie Parent, Joseph Prezioso, Greer, Denise Greer Jamerson, Norman, Greer Jamerson, you’ve, ‘, “ It’s, it’s, Tamara Lovewell, café, panini, Tamara Lovewell “, Lovewell Organizations: CNN, Capitol, Workers Defense Project, Moody’s, Federal Reserve Bank of San, Williams College, Triple, Los Angeles Times, Environmental Protection Agency, Brookings Metro, Reuters, University of California, Stanford University, Getty, National Weather Service, Ruska Coffee Company Locations: Austin , Texas, Washington ,, Texas, Federal Reserve Bank of San Francisco, Massachusetts, Joshua Tree , California, Boston, Greater Boston, AFP, Princeton , Indiana, , Maine, United States, Caribou .

☆ A Massachusetts city is giving families at risk of losing their homes $750 a month, no strings attached
▼ + stars: | 2024-04-02 | by ( Allie Kelly | ) www.businessinsider.com time to read: +4 min

Read previewA Massachusetts city is giving low-income families $750 a month, no strings attached. The guaranteed basic income program will focus on residents who are in danger of losing their homes. The Somerville GBI Pilot will serve about 200 low-income families currently experiencing housing insecurity. Related stories"My life was always just a couple hundred dollars short," a participant in San Antonio's income program told BI. St. Louis, Missouri recently distributed $500 monthly payments to low-income families, and Flint, Michigan is offering funds to new mothers.

Persons: —, Boston —, Somerville, Katjana Ballantyne, Ballantyne, Joe Biden's, hasn't, John Gillette Organizations: Service, Somerville, Business, Greater Boston Area, Boston, ARPA, The University of Massachusetts, Republican Locations: Massachusetts, —, Boston, San Antonio, Austin, Minneapolis, Durham , North Carolina, Denver, Antonio's, City, Somerville, Greater Boston, Arizona , South Dakota , Iowa, Texas, Arizona, Louis , Missouri, Flint , Michigan, Atlanta

☆ How Wealthy Investors Got Rich Looting America's Needy Hospitals
▼ + stars: | 2024-03-11 | by ( Bethany Mclean | ) www.businessinsider.com time to read: +21 min

That added to the massive debt burdens already placed on the hospitals by their for-profit owners, deepening their financial woes. In January, MPT reported that its biggest tenant, a nationwide chain of 32 hospitals called Steward, could no longer pay its rent. The core idea was simple: to buy hospital real estate, pocket the lease payments, and use the money to reward investors. The more hospital real estate that MPT buys, the more money it makes in rent payments from the hospitals. But that doesn't mean that MPT's leaders didn't get rich off its hospital deals.

Persons: Leonard Green, Sherman Cahal, Rob Simone, Hedgeye, MPT, Steward —, Justin Simon, Jasper Capital, they've, Ed Aldag, Eddie Lampert's, Eileen Appelbaum, Rosemary Batt, MTP, Marc Rowan, Richard Mortell, Leonard Green couldn't, they'd, Stephen Feinberg, Ralph de la Torre, Steward, Simone, Cerberus, Chandan Khanna, That's, de la, de la Torre, la Torre, Amaral, Aldag, Apollo, Eileen O'Grady, Moody's, didn't, Sen, Chuck Grassley Organizations: Northside Regional Medical Center, Ohio Valley Medical, East Ohio Regional Hospital, Luke's Medical, Glenwood Regional Medical Center, Medical Properties Trust, Jasper, Sears, Bain Capital, Affordable, Cornell University, Business, Third Coast Real Estate Capital, Cerberus, Health Care, Boston Globe, Bloomberg, Getty, Easton Hospital, Local, de la Torre, la, MediaNews, Boston Herald, Prospect, Private, Yale New Haven Health, Yale, Apollo, MPT, SEC, Republican, Senate Finance Locations: Youngstown , Ohio, Ohio, Wheeling , West Virginia, Martins Ferry , Ohio, St, Luke's, Phoenix, Massachusetts, West Virginia, California , Pennsylvania, Texas, Pennsylvania, Louisiana, America, Alabama, MPT, Greater Boston, Steward, Easton, Lehigh, Elizabeth's, Boston, Connecticut, it's

☆ Startup funding is falling in most major cities. So why is Boston pulling ahead?
▼ + stars: | 2024-02-05 | by ( Melia Russell | Rebecca Torrence | ) www.businessinsider.com time to read: +8 min

AdvertisementThe Bay Area took the lion's share of capital raised on Carta in 2023, followed by Boston, then New York. AdvertisementAccording to Carta data, select metro areas saw the total early-stage funding raised decline by at least a third from 2022 to 2023. Yet early-stage funding was only down 24% in Boston, however, the smallest decrease of the metro areas that Carta tracks. According to Carta data, about $2.6 billion of capital raised in biotech flowed to Boston startups last year. Beyond biotechThe Carta data shows Boston also had strong showings across investment in software-as-a-service and hardware.

Persons: —, Zach Weinberg, Roche, Carta, Founders, that's, Rudina Seseri, Seseri, Peter Walker, Michael Greeley, Greeley, Mark Castleman, Castleman, Clement Cazalot, Cazalot, Walker Organizations: Service, Massachusetts Turnpike, Partners, Business, Carta, Boston, East Coast, Companies, Area, Flare Capital Partners, pharma, Intel Ignite, Glasswing Ventures, Founders, Machinery, Pritzker Group, Armory Square Ventures, Way Ventures, Klaviyo's, New York Stock Exchange Locations: Boston, New York City, East, Boston , Cambridge, Newton , Massachusetts, Newark, Jersey City , New Jersey, New York, San Francisco, Bay, France, Copley

☆ Here’s where to invest your cash to save on taxes in 2024
▼ + stars: | 2023-12-04 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

"While any additional income earned from higher yields is taxed at a progressively higher rate, IRMAA applies as a surcharge," he said. "This means that even $1 of additional income could trigger higher premiums." With terms ranging from one month to one year, most Treasury bills, known as T-bills, are currently paying well over 5%, as of Dec. 4. However, T-bills offer a tax benefit over products like high-yield savings, certificates of deposit or money market funds: no state or local taxes on earnings. T-bill interest is still subject to federal income taxes.

Persons: Eric Audras, Mullikin, Catherine Valega Organizations: PhotoAlto, Getty, Medicare, Green Bee Locations: Boston, TreasuryDirect

Courthouse in Boston, Massachusetts, U.S., November 28, 2018. The U.S. government meanwhile seized the domains for two websites tied to the prostitution ring, authorities said. Defense lawyers for the trio either did not respond to requests for comment or could not be immediately identified. Customers were charged $350 to $600, depending on the services and included politicians, pharmaceutical and technology executives, doctors, military officers, professors, lawyers, business executives, scientists and accountants, prosecutors said. Reporting by Nate Raymond in Boston, Editing by Alexia Garamfalvi; Editing by David GregorioOur Standards: The Thomson Reuters Trust Principles.

Persons: John Jospeh Moakley, Katherine Taylor, Josh Levy, Han Lee, Junmyung Lee, James Lee, Levy, We're, Nate Raymond, Alexia Garamfalvi, David Gregorio Our Organizations: Courthouse, REUTERS, Rights BOSTON, U.S, Thomson Locations: John Jospeh Moakley U.S, Boston , Massachusetts, U.S, Boston, Virginia, Massachusetts, California, Massachusetts , Virginia, Cambridge, Watertown , Massachusetts, Fairfax, Tysons , Virginia

☆ High-end brothels serviced elected officials, tech and pharma execs, military brass: Feds
▼ + stars: | 2023-11-08 | by ( Dan Mangan | ) www.cnbc.com time to read: +2 min

A network of "sophisticated" high-end brothels in greater Boston and eastern Virginia provided sex for pay to "elected officials, high tech and pharmaceutical executives, doctors, military officers, government contractors that possess security clearances, professors," and others, federal prosecutors said Wednesday. Three people were arrested in connection with operating the pricey sex shops, which required "interested sex buyers" to provide employer information and references before booking sessions with prostitutes, authorities said. "The investigation into the involvement of sex buyers is active and ongoing," the office said. In addition to politicians and military brass, business executives and government contractors, customers included "lawyers, scientists and accountants." About 20 "sex buyers" were interviewed by the investigators as part of a multi-year probe of the network, according to a criminal complaint.

Organizations: Attorney's, Massachusetts, Washington , D.C, Department of Homeland Security Locations: Boston, Virginia, Cambridge, Watertown , Massachusetts, Fairfax, Tysons , Virginia, The Virginia, Washington ,, U.S

Doctors across the country say it’s rare that migrants receive medical screenings or anything beyond care for medical emergencies when they arrive at the U.S.-Mexico border, and there’s no overarching national system to track the care, either. You have these little islands of shelter,” said Deliana Garcia, of the nonprofit Migrant Clinicians Network, which supported more than 1,000 migrants in need of medical care in the first 10 months of this year. The challenges of careMigrants face a lack of access to steady medical care in the U.S., as well as healthy food and stable housing. Some avoid asking for help entirely out of fear of a large bill or longstanding distrust of the medical system. The shelter system in Massachusetts is so full that the governor brought in the National Guard in August to assist.

Persons: Julio Figuera, he’d, Figuera, ”, Deliana Garcia, “, anyone’s, Craig Williams, Cook, we’ve, Steve Federico, they’re, Federico, ” Federico, Jon Ewing, Ewing, Doctors, they’ve, Garcia, Ted Long, Stephanie Lee, who'd, Lee, ” Lee, Fiona Danaher, Danaher, Brigham, Sophia Tareen, Jesse Bedayn, Shastri, Robert Wood Johnson Organizations: International, Network, Border Patrol, Associated Press, Denver, New York City Health, Denver Health, New York, Penn State, National Institutes of Health, National Guard, Associated Press Health, Science Department, Robert Wood Johnson Foundation, AP Locations: Cook County, Chicago, Venezuela, United States, U.S, Mexico, New York, Los Angeles, Boston, New York City, Denver, Massachusetts, Milwaukee

☆ The 52 most important VCs in Boston, according to other VCs
▼ + stars: | 2023-10-09 | by ( Melia Russell | ) www.businessinsider.com time to read: +1 min

In September, one of Boston's own homegrown companies, Klaviyo, was among the first tech startups to pry open the IPO market, which had been closed for a two-year stretch. According to research by Carta, Boston has a healthy lead on other cities for total capital raised across biotech, health-tech, medical devices, and energy companies so far this year. It's also worth mentioning that funding to Boston startups has cooled from the peak in 2021, as has funding everywhere. In celebration of this vibrant scene, Insider is recognizing the most important venture capitalists in the greater Boston area. We asked VCs from across the country about the Boston investors to know, and we also referred to our past reporting on the top seed investors to find more picks.

Persons: Andrew Bialecki, It's, VCs Organizations: Boston, Carta Locations: Boston, Austin, Seattle, Los Angeles

☆ Biden is giving colleges tips on rethinking legacy admissions after the Supreme Court struck down affirmative action
▼ + stars: | 2023-08-14 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +5 min

The Supreme Court struck down affirmative action in college admissions at the end of June. The Education and Justice Departments released new guidance for colleges in the ruling's aftermath. They said colleges can reconsider how they use legacy preference in admissions. On Monday, President Joe Biden's Education and Justice Departments released new guidance to schools in the aftermath of the Supreme Court decision at the end of July that struck down affirmative action in college admissions. Following the affirmative action decision, legacy preference in college admissions entered a harsh spotlight.

Persons: Joe Biden's, Merrick Garland, Kristen Clarke, Catherine Lhamon, Cardona Organizations: Justice, Service, Joe Biden's Education, Civil, Education Department, Harvard University, Community Economic, Greater Boston, Network, Harvard, Wesleyan, Occidental Locations: Wall, Silicon, New England

☆ How Harvard makes so much money — and why a major funding source could be at risk
▼ + stars: | 2023-07-27 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +5 min

The Education Department's inquiry into the school's legacy admissions process could shake up funding sources. Harvard fiscal year 2022 operating revenue sources. According to the school's 2022 financial report, philanthropy, which includes gifts from donors and alumni, accounted for 45% of total revenue. "In fiscal year 2022, Harvard received current use gifts from alumni, foundations, and others totaling $505 million, representing approximately 9% of operating revenues," the school said. When it comes to actually spending all that money, Harvard said it uses endowment funds to "support nearly every aspect of University operations."

Persons: Johns, Harvard Organizations: Harvard, Service, Harvard University, Ivy League, Education Department, Community Economic, Greater Boston, Network, Amherst, Research, University Locations: Wall, Silicon, New England, Johns Hopkins

☆ A group of Democrats just relaunched an effort to ban legacy admissions and strip financial aid from schools that keep the practice in place
▼ + stars: | 2023-07-26 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +5 min

A group of Democrats revived a bill to ban legacy admissions across colleges. It comes after the Supreme Court struck down affirmative action in college admissions. And it's not a form of affirmative action that serves our country well." Following the decision, legacy admissions practices entered a harsh spotlight. Some prestigious schools have already ended their legacy admissions practices.

Persons: Democratic Sens, Jeff Merkley, Chris Van Hollen, Jamaal Bowman, —, Merkley, Michael Roth, Van Hollen Organizations: Democrats, Service, Democratic, Democratic Rep, Fair College, Supreme, Black College and Universities, Education Department, Community Economic, Greater Boston, Network, Ivy League, Harvard, Johns Hopkins University, Amherst College, Wesleyan Locations: Wall, Silicon, New England

☆ Education Dept. Opens Civil Rights Inquiry Into Harvard’s Legacy Admissions
▼ + stars: | 2023-07-25 | by ( Michael D. Shear | More About Michael D. Shear | ) www.nytimes.com time to read: +1 min

The Education Department has opened a civil rights investigation into Harvard University’s preferences for the relatives of alumni and donors when making admissions decisions, according to lawyers for several groups that claim the practices are discriminatory. “The U.S. Department of Education has notified Lawyers for Civil Rights that it has formally launched the federal civil rights investigation requested,” the legal group said in a statement. The inquiry comes after a formal complaint that three groups filed after the Supreme Court’s decision last month on the use of affirmative action by colleges and universities that severely limit race-conscious admissions. Lawyers for the groups — Chica Project, ACEDONE and the Greater Boston Latino Network — argued that Harvard’s practice of extending preferences to so-called legacy admissions illegally discriminated against Black, Hispanic and Asian applicants in favor of wealthy students who were less qualified.

Persons: Network — Organizations: Department, Harvard, U.S . Department of Education, Civil Rights, Greater Boston, Network

☆ Food deserts aren't what's causing hunger in the U.S. — It's wages, inequality and inflation
▼ + stars: | 2023-07-16 | by ( Juhohn Lee | ) www.cnbc.com time to read: +2 min

About 33.8 million Americans didn't have adequate access to food, according to the latest report from the U.S. Department of Agriculture. "Food inflation, as we've seen during the pandemic, has gone up, driven in large part by supply chain disruptions and shortages of food supply during the pandemic," according to Erika Thiem, chief supply chain officer at the nonprofit Feeding America. Food deserts, where access to affordable and healthy foods is limited, have also been widely blamed as a major cause of hunger in the U.S. He continued, "it's food prices that matter, not food access." "I think part of this is how problems compound problems," according to Stacy Dean, deputy under secretary at the USDA.

Persons: we've, Erika Thiem, Catherine D'Amato, Craig Gundersen, Stacy Dean Organizations: U.S . Department of Agriculture, That's, America, Greater Boston Food Bank, U.S, Baylor University, National Bureau of Economic Research Locations: United States, Greater, U.S

☆ Harvard's legacy admission standards are facing a renewed challenge in the wake of SCOTUS gutting affirmative action
▼ + stars: | 2023-07-03 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +5 min

Activists are taking aim at Harvard's preference for legacy applicants in the wake of a landmark Supreme Court ruling. A federal civil rights complaint alleges Harvard is breaking the law with its current preferences. Internal university data illustrates that white applicants overwhelmingly benefit from the current standards. While "legacy applicants were nearly 6 times more likely to be admitted compared to nonlegacy applicants." The civil rights complaint comes after Education Secretary Miguel Cardona urged colleges to take a hard look at legacy preferences they might offer.

Persons: —, John Roberts, Rakesh Khurana, Khurana, Miguel Cardona, Cardona Organizations: Supreme, Harvard, Service, Department of Education's, Civil Rights, Ivy League, Community Economic, Greater Boston Latino Network, Civil, Harvard College, University of North, Education, Associated Press Locations: Universities, England, University of North Carolina

☆ SUV Crashes Into Massachusetts Apple Store, Killing One
▼ + stars: | 2022-11-22 | by ( Talal Ansari | ) www.wsj.com time to read: 1 min

The SUV plowed through the store’s plate glass window and struck multiple people, officials said. One person died and 16 others were injured when a vehicle drove through the glass facade of an Apple store in Massachusetts on Monday morning, local officials said. Plymouth County District Attorney Tim Cruz said multiple emergency calls were made around 10:45 a.m. about a crash in Hingham, Mass., part of the greater Boston area.

The exterior of the Marriner S. Eccles Federal Reserve Board Building is seen in Washington, D.C., U.S., June 14, 2022. Asked at a Washington Post event whether he felt U.S. investors had taken an overly optimistic view of Fed policy until a recent sharp sell-off begin, Atlanta Fed president Raphael Bostic said that was beside the point. "Until that happens we're going to see I think a lot of volatility in the marketplace in all directions." "At the moment, inflation remains too high," Collins said in her first policy remarks since becoming head of the bank. The Fed maintains a 2% inflation target, as measured by the personal consumptions expenditures price index.

☆ Lawmakers who represent Martha's Vineyard says they've gotten death threats for supporting the migrants flown there by DeSantis
▼ + stars: | 2022-09-21 | by ( Natalie Musumeci | ) www.businessinsider.com time to read: +3 min

Two lawmakers say they've gotten death threats over their support of the migrants flown to Martha's Vineyard. Last week, 50 migrants were flown to Martha's Vineyard in a move planned by Florida Gov. Cyr was quoted by Axios saying that he's taking the backlash he has gotten over his advocacy for the migrants "in stride." Last week, DeSantis sparked a firestorm of criticism after he had the migrants flown to Martha's Vineyard on two chartered planes in what attorneys for the immigrants called a "shameful political stunt." Fernandes told WGBH's Greater Boston that the threats he's gotten "is nothing compared to what these people have gone through."

☆ 2 migrants flown to Martha's Vineyard by Gov. DeSantis have already left for NYC, says Massachusetts lawmaker
▼ + stars: | 2022-09-21 | by ( Natalie Musumeci | ) www.businessinsider.com time to read: +3 min

Two of the migrants flown to Martha's Vineyard have left for NYC, a local politician told Insider. The lawmaker said he wouldn't be surprised if more of the migrants left for other parts of the US. Some of them, said Massachusetts State Sen. Julian Cyr, even want to return to Martha's Vineyard. Cyr, a Democrat, said that some of the migrants even want to return to Martha's Vineyard. "They loved Martha's Vineyard," the politician said of the migrants.

At age 2, my son is on track to have 75 times more wealth when he turns 18 than I did. Saving money is important, but generational wealth is built through investing and sustained by good habits, like communication and consistency. This article is part of "Money That Lasts," an ongoing series about generational wealth from Personal Finance Insider. Discussing those mistakes is critical because generational wealth can be obtained by avoiding the same mistakes as those who have come before you. While not an exhaustive list, these three tips are proven to help create generational wealth in just one generation.

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