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☆ The great wealth transfer has started — but millennials, Gen Z may not inherit as much as they anticipate
▼ + stars: | 2024-05-07 | by ( Jessica Dickler | ) www.cnbc.com time to read: +2 min

There's a massive wealth transfer underway. "It has started and it's only going to accelerate," said Liz Koehler, head of advisor engagement for BlackRock's wealth advisory business. And yet, some millennials and Generation Z may not be inheriting as much as they think. Recent reports show a growing disconnect between how much the next generation expects to receive in the "great wealth transfer" and how much their aging parents plan on leaving them. However, 55% of baby boomers who plan to leave behind an inheritance said they will pass on less than $250,000, Alliant found.

Persons: Liz Koehler, Gen Zers, Alliant, Isabel Barrow Organizations: Finance, Alliant Credit Union, Federal Reserve Bank of Boston, Edelman, Edelman Financial Locations: millennials

☆ US sends land-attack missile system to Philippines for exercises in apparent message to China
▼ + stars: | 2024-04-22 | by ( Brad Lendon | ) edition.cnn.com time to read: +8 min

The presence of the US Army’s Mid-Range Capability (MRC) ground-based missile system, increases the risks of “misjudgment and miscalculation” in a region already on edge over Chinese-Philippines face-offs in the South China Sea, Beijing says. It’s the first-ever deployment of the MRC missile system, also known as the Typhon system, to the Indo-Pacific theater, and it comes amid a series of US-Philippine military exercises, including the largest-ever edition of the bilateral Balikatan exercises beginning Monday. It also can fire the Tomahawk Land Attack Missile, a maneuverable cruise missile with a range of 1,600 kilometers (1,000 miles), according to the CSIS. Those are the same rules Washington and Manila accuse Beijing of ignoring with aggressive Chinese actions that have injured Filipino sailors and damaged vessels around disputed features in the South China Sea. US Army PacificChina’s missile advantageAnalysts say the deployment of the Typhon missile battery is the first signal of US plans to address what has long been an advantage for Beijing in the region.

Persons: Lin Jian, ” Lin, Stephen Koehler, “, equalizes, ”, Collin Koh, Christopher Milhal, Koh, Rupert Schulenberg, Donald Trump “, Thomas, CNN’s Steven Jiang Organizations: South Korea CNN, US, MRC, US Army, Missile Defense, Center for Strategic, International Studies, Foreign, US Pacific Fleet, Sunday, Xinhua, CNN, US Air Force, US Army Pacific, Beijing, Rajaratnam, of International Studies, People’s Liberation Army Rocket Force, ”, don’t, International Institute for Strategic Studies, South, Lewis, McChord, Nuclear Forces Treaty, Russian, Philippine News Agency, CNN Philippine Locations: Seoul, South Korea, China, United States, Philippines, South China Sea, Beijing, Philippine, South China, Taiwan Strait, Qingdao, Washington, Manila, Asia, Pacific, Japan, Taiwan, Guam, Singapore, South, Soviet Union, Palawan, Sulu, Spratly

In each case, substitute materials were used to make furniture that was less expensive but also less durable than the solid wood pieces that previous generations bought. "In the 1980s, you could buy a sofa for $399. You could probably still buy a sofa for $399," Koehler said. But choosing a more expensive piece isn't necessarily a guarantee of better quality, Koehler said. You can also check the furniture description to see whether it is made from solid wood or particle board under a veneer.

Persons: CoCo Ree Lemery, Lemery, Mark Schumacher, Koehler Organizations: Purdue University, Home, CNBC, telltale

SEATTLE (AP) — Seattle has agreed to pay $10 million to 50 demonstrators who sued over the police department’s heavy-handed response to racial justice protests in 2020, in a settlement announced by attorneys from both sides Wednesday. The police department — led by then-Chief Carmen Best — used aggressive techniques to disperse the crowds, including flash-bang grenades, foam-tipped projectiles and blast balls that explode and emit pepper gas. A federal judge at one point ordered the department to stop using them against peaceful demonstrators. And when police used them even after Best and then-Mayor Jenny Durkan promised it would stop, the City Council voted unanimously to bar the department from doing so. “This decision was the best financial decision for the City considering risk, cost, and insurance,” Davison said.

Persons: George Floyd, ”, —, Carmen Best —, Jenny Durkan, Aubreanna Inda, “, ” Karen Koehler, Ann Davison, ” Davison Organizations: SEATTLE, Minneapolis police, City Council, City, Peaceful Locations: Seattle

☆ Lula in Berlin for First Brazil-Germany Talks in Eight Years
▼ + stars: | 2023-12-03 | by ( Dec. | At A.M. | ) www.usnews.com time to read: +2 min

He is expected to have dinner on Sunday with fellow leftist, German Chancellor Olaf Scholz, before the consultations on Monday. Scholz was the first foreign leader to visit Lula in Brazil, just weeks after his inauguration. The German Chancellor has been on a quest since taking office in late 2021 to improve ties with the Global South. Scholz will be hoping to avoid a scenario like in January when his visit to Brazil was overshadowed by differences over Russia's invasion of Ukraine. Lula last month said Israel was "committing terrorism" against Palestinians "by not taking into account that children are not at war, that women are not at war".

Persons: Andreas Rinke, Sarah Marsh BERLIN, Luiz Inacio Lula da Silva, Lula, Jair Bolsonaro, Olaf Scholz, Scholz, Lukas Koehler, Israel, Sarah Marsh, Toby Chopra Organizations: Global, European Union, Mercosur, Brazil, EU, Free Democrats, U.S, Latin America, German Locations: Berlin, America, Brazil, Germany, China, South, Argentina, Scholz's, Ukraine, Israel

Persons: Luiz Inacio Lula da Silva, Ueslei Marcelino, Lula, Jair Bolsonaro, Olaf Scholz, Scholz, Lukas Koehler, Israel, Andreas Rinke, Sarah Marsh, Toby Chopra Organizations: Central Bank, REUTERS, Rights, Global, European Union, Mercosur, Brazil, EU, Free Democrats, U.S, Latin America, German, Thomson Locations: Brasilia, Brazil, Berlin, America, Germany, China, South, Argentina, Scholz's, Ukraine, Israel

☆ Say goodbye to retirement? A 'soft saving' trend is emerging among young people
▼ + stars: | 2023-10-23 | by ( Quek Jie Ann | ) www.cnbc.com time to read: +7 min

But a "soft saving" trend is emerging among younger workers, challenging the traditional way of thinking. Soft saving refers to putting less money into the future, and using more of it for the present. "Soft saving is the soft life's answer to finances," said the report. In addition, Americans are "re-focused" on post-pandemic travel, a possible reason why there is a decrease in personal saving rates, said Fidelity's Viktorin. ""Soft saving is the soft life's answer to finances."

Persons: Gen, Athima, —, Ryan Viktorin, Gen Z's —, Liz Koehler, Koehler, Viktorin, Andy Reed, X, Boomers, Z's, Z, Gen Z, Fidelity's Organizations: Intuit, Fidelity Investments, BlackRock's, Wealth Advisory, CNBC, U.S . Bureau, Trading Economics, Blackrock, Vanguard, Transamerican Center, Retirement Studies, Retirement

☆ Vincent Zhou: Wait goes on for US skater to discover color of medal after Kamila Valieva’s positive doping test
▼ + stars: | 2023-09-28 | by ( Don Riddell | ) edition.cnn.com time to read: +14 min

According to US Figure Skating, it’s the only time in the history of the modern Olympics that athletes were not awarded their medals on site. Russian Kamila Valieva competes in the women's free skate program during the figure skating competition at the 2022 Winter Olympics, Thursday, Feb. 17, 2022, in Beijing. Figure Skating will continue to stand alongside and support our athletes throughout this frustrating situation,” the organization said in a statement. “There are significant economic costs associated with not receiving an Olympic medal,” Zhou said in his statement. “These Olympic athletes fund a multi-billion dollar industry,” Koehler said, noting that the IOC brings in $2.4 billion annually.

Persons: Vincent Zhou, “ I’ve, I’ve, ”, Vincent, you’ve, ” Zhou, He’s, ” Vincent Zhou, Matthew Stockman, Kamila Valieva, Valieva, David J, Phillip, RUSADA, Zhou, they’ve, haven’t, Kamila, Alexander Nemenov, Rob Koehler, “, ” Koehler, Koehler, it’s, Jean Catuffe, They’re, they’re, they’ll, It’s, Adam Nelson, Yuriy Bilonog, ” Nelson, ’ ” Nelson, WADA, Valieva –, “ There’s, Matthieu Reeb, ” Reeb, “ WADA, ” WADA, ” RUSADA, he’ll, he’s Organizations: CNN —, Winter Games, CNN Sport, Capital, Getty, Russian Olympic Committee, Sochi Games, Doping Agency, International Olympic Committee, International Skating Union, ISU, Sport, US Olympic, Paralympic, Global, IOC, CNN, Skating, Olympic, Paralympic Museum, Olympic Movement, ”, USA, Games, Valieva, US, Doping ’ Agency, “ Locations: Beijing, China, Russia, Japan, Russian, Lausanne, Moscow, AFP, Colorado, “ U.S, U.S, American, Atlanta, Athens, Canada, …

☆ Illinois passes a law that requires parents to compensate child influencers
▼ + stars: | 2023-08-16 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +6 min

A family businessThis picture shows Illinois Senator Dave Koehler with teenager Shreya Nallamothu, who helped inspire new legislation protecting child influencers. Although children are predominantly featured in these monetized videos, parents have had no legal obligation to give them any portion of the earnings. “But we know with the explosion of social media that parents are using it to monetize kids being on videos. That California law required parents to set aside a portion of 15% of child earnings in a blocked trust account that the child actor could access after the age of 18. “Even though Illinois is the first state to pass such a law, this legislation is a long time coming,” Maddox said.

Persons: “, ”, influencers, ” Nallamothu, Dave Koehler, Pritzker, ” Koehler, Shreya Nallamothu, Jackie Coogan’s Law, Charlie Chaplin, swindled, Jessica Maddox —, —, ” Maddox, Maddox, ” Chris McCarty —, Washington State —, ” McCarty, “ I’m, it’s Organizations: CNN, Illinois Gov, Child Labor, The University of Alabama Locations: Normal , Illinois, Illinois, California, Washington, Washington State

Pentagon officials had widely expected the nomination to go to Admiral Samuel Paparo, who leads the Navy in the Pacific and who has experience grappling with the growing challenge from China. "Throughout her career, Admiral Franchetti has demonstrated extensive expertise in both the operational and policy arenas," Biden said in a statement, noting that she was the second woman ever to achieve the rank of four-star admiral in the U.S. Navy. Last year, Biden picked Admiral Linda Fagan to lead the U.S. Coast Guard, making her its first female commanding officer. Franchetti would become the first woman to lead a military service within the Defense Department and to join the Joint Chiefs of Staff, a group of eight top uniformed service members who advise the president on military issues. Biden also elevated Paparo, nominating him to become the commander of all U.S. military forces in the Pacific.

Persons: Andrew Kelly, Joe Biden, Lisa Franchetti, Biden, Samuel Paparo, Franchetti, Admiral Franchetti, Linda Fagan, Stephen, Koehler, Paparo, Tommy Tuberville, Charles " C.Q, Brown, Tuberville, Steve Holland, Phil Stewart, Jasper Ward, Rami Ayyub, Sharon Singleton, Rosalba O'Brien Organizations: U.S . Marines, U.S . Navy, U.S . Navy Wasp, Fleet, REUTERS, WASHINGTON, Navy, Joint Chiefs, Staff, Pentagon, Pacific, U.S . Naval Forces Korea, U.S . Coast Guard, Department of Defense, Department of Homeland Security, Defense Department, Joint Chiefs of Staff, U.S . Pacific Fleet, Senate, Air Force, Marine Corps, United States Armed Forces, Thomson Locations: U.S, Bataan, New York, China

☆ A new Texas law forces vendors to rate sexual content in schoolbooks. They’re not happy about it
▼ + stars: | 2023-07-04 | by ( Nadia Bidarian | ) edition.cnn.com time to read: +10 min

But a new Texas law might require her to. The law’s primary author, Republican Texas State Rep. Jared Patterson, said its aim is simple: Get sexually explicit content out of schools. Republican Texas State Rep. Jared Patterson debates HB 900, which would ban sexually explicit materials from library books in schools. Mikala Compton/Austin American-Statesman/APBut the burden of rating these books falls on book vendors. The law also applies retroactively to books sold to schools in the past, meaning that vendors must issue recalls for “sexually explicit” books still in circulation.

Persons: Charley Rejsek, they’d, “ We’re, ” Rejsek, Jared Patterson, Mikala Compton, “ We’ve, “, ” Patterson, ”, Shirley Robinson, ” Robinson, Ben Conn, Conn, Noble, ” Conn, wasn’t, Patterson, Valerie Koehler, Mary Cate Stevenson, Noah Nofz Koehler, doesn’t, she’s, ” Koehler, Noah Nofz Richard Bailey, Greg Abbott, Bailey, ” Bailey, Lewis Parry, ” Elizabeth Jordan, ’ Patterson, ” Jordan, can’t, Jordan Organizations: CNN, Republican Texas State, Austin American, Statesman, Resources, ”, Texas Library Association, Media Association, Barnes, Penguin, Library Company, Education, Willow, Interabang, Dallas County, Lewis Parry Interabang, Nowhere, Texas Education Agency Locations: Texas, Austin, ”, Houston, Houston , Texas, Dallas, Dallas , Texas, San Antonio

☆ Gen Z is re-thinking college and career plans in post-Roe America: ‘I want to leave the country’
▼ + stars: | 2022-12-19 | by ( Morgan Smith | ) www.cnbc.com time to read: +7 min

There is an endless list of factors students consider while choosing a college: size, cost, campus life, proximity to home. In post-Roe America, location has never been more important to prospective and current college students deciding where to pursue a degree or build their career. The 21-year-old, now a junior studying political science at the University of South Dakota, is the president of USD Students for Reproductive Rights. Lexi McKee-Hemenway and Kyshea Koehler at an event hosted by USD Students for Reproductive Rights. Harvard University freshmen rally in Harvard Yard on May 4, 2022 to defend abortion rights.

☆ She Put Her Own Spin on a Classic Porsche
▼ + stars: | 2022-12-10 | by ( A.J. Baime | Photographs Jj Casas For The Wall Street Journal | ) www.wsj.com time to read: 1 min

Kathryn Koehler , 49, an engineering director at Netflix living in Palo Alto, Calif., on her 1972 Porsche 911E, as told to A.J. When I was growing up in Clearwater, Fla., my uncle and my parents were involved with a local Porsche club. I had a long commute to school, so it was a foregone conclusion that I was going to need a car. The day I got my driver’s license, at 16, I came home and there in the garage was this 1972 Porsche with a “Happy Birthday” sign draped across the headlights. The garage was full of my friends, and when I stopped hyperventilating, I realized how special this car was.

☆ Trial to start for sailor accused of setting Navy warship on fire
▼ + stars: | 2022-09-19 | by ( The Associated Press | ) www.nbcnews.com time to read: +4 min

SAN DIEGO — According to prosecutors, Ryan Sawyer Mays was a young, arrogant sailor angry about being assigned to deck duty after failing to become a Navy SEAL — and he made the Navy pay in a big way. Barthel said the Navy’s case relies largely on the account of a fellow sailor who has acknowledged changing it repeatedly. Still, he said he is speaking out because the Navy case is unjust. Navy leaders disciplined more than 20 senior officers and sailors in connection with what it described as widespread leadership failures that contributed to the disaster. The Navy spread blame across a wide range of ranks and responsibilities and directly faulted the ship’s three top officers.

☆ O scrisoare timbrată din secolul al XIX-lea, vândută pentru suma de 430.000 de euro în Germania
▼ + stars: | 2020-11-22 | by ( Publika.Md - Aici Sunt Știrile | ) www.publika.md time to read: +1 min

O scrisoare timbrată din secolul al XIX-lea a fost vândută pentru suma de 430.000 de euro (510.000 de dolari) în Germania, informează dpa, citat de agerpres.ro. Scrisoarea cu primele timbre ale oraşului Lübeck din 1859 a fost scoasă la licitaţie sâmbătă în oraşul Wiesbaden. Potrivit casei de licitaţii, o aşa-numită scrisoare timbrată "Baden" de la 1856, estimată la 100.000 de euro, a fost vândută pentru suma de 320.000 euro. Scrisoarea a aparţinut cândva regelui Carol al II-lea al României, un pasionat filatelist. După moartea sa, scrisoarea a fost vândută la licitaţie în 1953, iar acum a fost achiziţionată tot de un cumpărător anonim.

Persons: Heinrich Koehler, Carol al II - lea al României, Carol al II - lea, Haub Locations: Germania, Lübeck, Wiesbaden, Tengelmann, Baden

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