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☆ 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

☆ Biden proposes expanding free community college across the U.S.
▼ + stars: | 2024-03-11 | by ( Annie Nova | ) www.cnbc.com time to read: +1 min

President Joe Biden has proposed expanding free community college across the U.S., and other initiatives to lower higher education costs. Still, the budget reflects the president's policy priorities as he seeks reelection in November. The president's budget builds on those efforts by further addressing the student loan crisis and offering more ways for people to get through their schooling without going into debt. Biden's presumptive Republican opponent, former President Donald Trump, called for slashing the U.S. Department of Education's budget during his term in the White House. In contrast, Biden is requesting additional funding for the agency — $82.4 billion for 2025, a $3.1 billion increase from 2024 — to subsidize educational costs for many Americans.

Persons: Joe Biden, Education Miguel Cardona, Biden's, Donald Trump, Biden Organizations: Education, Finance, Republican, U.S . Department Locations: U.S

☆ Searching for your Irish ancestry? Guinness’ archives could help you reconnect with your roots
▼ + stars: | 2024-03-08 | by ( Catherine E. Shoichet | ) edition.cnn.com time to read: +6 min

“It’s, unfortunately, one of the biggest barriers to Irish family history research,” says Crista Cowan, corporate genealogist for Ancestry. The 1.6 million records come from what might sound like a surprising source: the archives of Ireland’s famed Guinness brewery. The Guinness brewery has a storied pastResearchers combing through the newly released files might stumble upon some celebrity connections, too. Courtesy Guinness Archive, Diegeo IrelandArthur Guinness signed a 9,000-year lease on a Dublin brewery in 1759. Courtesy Guinness Archive, Diageo IrelandWorkers generally entered the Guinness workforce at age 14, according to a description of the records on the company’s website.

Persons: “ It’s, ”, Crista Cowan, they’ll, Patrick’s, Cowan, ” Cowan, “, who’s, John O’Brien, Liam Neeson, Graham Norton, Bono, Arthur Purcell, who's, Purcell, Arthur Guinness, “ Guinness, …, Eibhlin Colgan, ” Guinness, Guinness, ‘ Organizations: CNN, Public Records, Ireland’s, Guinness, Diegeo, Records, Brewery, Diageo, Diageo Ireland Workers Locations: Dublin, St, Ireland, Diegeo Ireland, United Kingdom, United States, Diageo Ireland, James’s, James's

☆ Britain Is Cutting Taxes Again. Why Now?
▼ + stars: | 2024-03-07 | by ( Eshe Nelson | ) www.nytimes.com time to read: +1 min

This year, Jeremy Hunt, the chancellor of the Exchequer, had to consider another priority: the upcoming general election. And so on Wednesday, Mr. Hunt announced that he would cut taxes for nearly 30 million workers. It will save the typical employee about 900 pounds ($1,145) a year, Mr. Hunt said. That’s because the tax cuts announced by the Conservative Party are smaller and, crucially, offset partly by some other tax increases. And Mr. Hunt didn’t announce much additional spending.

Persons: Jeremy Hunt, Hunt, Liz Truss, Hunt didn’t Organizations: National Insurance, Conservative Party

☆ Don't be enticed by the gold rally, expert says: Investors 'buy gold and hope it doesn't go up'
▼ + stars: | 2024-03-06 | by ( Annie Nova | ) www.cnbc.com time to read: +1 min

One helpful way to think about the recent gold rally: it's a case of schadenfreude. The yellow metal does well when other assets — and the world — are in trouble. Be prepared to root against your investment, said William Bernstein, author of "The Four Pillars of Investing." "You buy gold and hope it doesn't go up," he said. Among the other previous good times for gold: The Great Recession and the start of the Covid outbreak.

Persons: William Bernstein ,, Vladimir Putin, Donald Trump Organizations: NATO, Finance Locations: Ukraine, Gaza

☆ U.K. to Cut Taxes Again as Election Nears
▼ + stars: | 2024-03-06 | by ( Eshe Nelson | ) www.nytimes.com time to read: +1 min

Amid lackluster prospects for economic growth, the British government announced it would cut taxes for workers ahead of a general election this year. It would take the rate for about 27 million employees down to 8 percent, and follows a two percentage point cut announced less than four months ago. Together, the cuts would save the average employee about 900 pounds ($1,145) a year, Mr. Hunt said. The rate was also cut for self-employed workers. “We can now help families not just with temporary cost-of-living support but with permanent cuts in taxation,” Mr. Hunt, the chancellor of the Exchequer, said in Parliament.

Persons: Jeremy Hunt, Hunt, Mr Organizations: National Insurance Locations: British, “

☆ Why investing earlier may help younger workers avoid retirement worries that plague older generations
▼ + stars: | 2024-03-05 | by ( Lorie Konish | ) www.cnbc.com time to read: +1 min

A shift from pensions to 401(k) plans has made workers responsible for ensuring they have enough money to live on in retirement. Most Americans — 79% — now agree there is a retirement crisis, up from 67% in 2020, according to a new report from the National Institute on Retirement Security. Meanwhile, more than half of Americans — 55% — are worried they won't be able to achieve financial security in retirement. Younger investors have a unique opportunity to avoid that dilemma, according to experts who testified at a Senate hearing last week. "Starting earlier obviously makes the math work much better," Dan Doonan, executive director at the National Institute on Retirement Security, said during the Senate hearing.

Persons: Albert Einstein, Dan Doonan Organizations: National Institute on Retirement Security, Finance, Security, Investors, National Institute on Retirement

☆ '2024 will be the year of the zombie VC reckoning.' The first wave of walking-dead venture firms is here and it's already causing headaches for tech founders.
▼ + stars: | 2024-03-04 | by ( Ben Bergman | ) www.businessinsider.com time to read: +10 min

Unlike other businesses, venture firms do not suddenly go out of business. Limited partners such as pensions and endowments that fund venture firms have been choosier, cutting off capital to firms that have not generated acceptable returns. Why it is so difficult to spot a dying fundOpenView Venture Partners announced in December that it was suspending new investments and laying off staff. In a written statement, he later explained that Sinai Ventures has been rebranded to Sinai Capital Partners. Do you know of a venture firm no longer actively investing?

Persons: VCs, Anna Barber, they'll, they're, Roy Bahat, Brian Brackeen, Brackeen, they're reallocating, Beezer Clarkson, Clarkson, Jake Saper, Bahat, Jordan Fudge, Zachary White, Carlos Adame —, Fudge, We're, Paul Weinstein, Weinstein, Ryan Swager, Brandon Zeuner, Alsop Louie, Alsop Louie Partners, Gilman Louie, Stewart Alsop, Jason Preston, Tyler Peterson, Mike Morgan, Robert Patterson, DEFTA, George Hara, Martin Gedalin, Kevin Ober, Divergent's, Hone, Ben Bergman Organizations: Business, Bloomberg Beta, Lightship Capital, Sapphire Partners, BI, Venture Partners, Foundry Group, Sinai Ventures, Sinai Capital Partners, Capital, San, Alsop Louie Partners, Partners, Ventures Peninsula Ventures, LinkedIn Locations: Los Angeles, San Francisco, Alto , California, San Mateo , California, Lumia, Seattle, bbergman@insider.com

☆ Chinese leaders to hold annual 'Two Sessions' meeting as debate about bazooka-like stimulus swirls
▼ + stars: | 2024-03-04 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

Edgar Su | ReutersBEIJING — China is set this week to kick off its annual parliamentary meetings, which investors are watching closely for signals on economic stimulus. China's economic policy is typically set at an annual meeting in December by leaders within the ruling Communist Party of China. GDP and other economic targetsThe Chinese People's Political Consultative Conference, an advisory body, is set to kick off its annual meeting on Monday. "On balance, the additional fiscal impulse this year, assuming a bazooka-like fiscal package is not forthcoming, is unlikely to be particularly large." China's foreign minister and premier typically hold press conferences during the parliamentary meetings, which generally end in mid-March.

Persons: Edgar Su, Wang Jun, Wang, Zong Liang, Louise Loo, Loo, Goldman Sachs, Bank of China's Zong Organizations: of, Initiative, Reuters, Huatai Asset Management, CNBC, Communist Party of China, U.S, Political Consultative Conference, National People's, Oxford Economics, Industry, Information Technology, Science, Technology, Housing, Bank of, Communist Party's, Communist Party of Locations: Beijing, China, Reuters BEIJING, U.S . Federal, RMB3.8tn, Bank of China's

☆ '2024 will be the year of the zombie VC reckoning.' The first wave of dying venture firms is here and it's already causing headaches for tech founders.
▼ + stars: | 2024-03-04 | by ( Ben Bergman | ) www.businessinsider.com time to read: +10 min

AdvertisementUnlike other businesses, venture firms do not suddenly go out of business. Why it is so difficult to spot a dying fundOpenView Venture Partners announced in December it was suspending new investments and laying off staff. With the help of Pitchbook, BI looked through data for hundreds of venture firms. Hinge last raised a $19 million fund in 2021 but has not made an investment since November 2022, according to Pitchbook. Do you know of a venture firm no longer actively investing?

Persons: —, VCs, Anna Barber, they'll, they're, Roy Bahat, Brian Brackeen, they're reallocating, Beezer Clarkson, Clarkson, Jake Saper, Bahat, Jordan Fudge, Zachary White, Carlos Adame, Fudge, We're, Paul Weinstein, Weinstein, Cofounders Ryan Swager, Brandon Zeuner, Louie, Alsop Louie Partners, Partners Gilman Louie, Stewart Alsop, Jason Preston, Partners Tyler Peterson, Mike Morgan, Robert Patterson, DEFTA, George Hara, Martin Gedalin, Kevin Ober, Hone, Ben Bergman Organizations: Service, Business, Bloomberg Beta, Lightship, Sapphire Partners, BI, Sapphire Ventures, Venture Partners, Foundry Group, Sinai Ventures, Sinai Capital Partners, Capital, San, Louie Partners, Partners, Ventures Peninsula Ventures, LinkedIn Locations: Los Angeles, San Francisco, San Mateo , California, Seattle, Alto, bbergman@insider.com

☆ Just over half of Americans over the age of 65 are earning under $30,000 a year, and it shows how stark the retirement crisis is
▼ + stars: | 2024-03-04 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +4 min

Many older Americans are financially vulnerable, with over half living on incomes of $30,000 or less a year. And, as Sanders' report notes, about 10% of older Americans live in poverty, according to an analysis from the Center on Budget and Policy Priorities. Without Social Security income, around 38% of Americans 65 and older would be living below the poverty line. Even so, America's Social Security benefits lag behind many other wealthy countries; benefits amount to, on average, 51.8% of workers' earnings across the OECD. All of that comes as older Americans see their adult children leaning on them financially, as Gen Zers and millennials weather their own economic storms.

Persons: Bernie Sanders, —, Sanders, Zers, I'm, Jane, you'll Organizations: Service, Health, Education, Labor, Wall, Survey, Federal Reserve's Survey, Consumer Finance, Budget, Security, OECD, Social Security Locations: Japan

☆ Venture capital firm's plan to buy nonprofit hospital system has Ohio community on edge
▼ + stars: | 2024-03-02 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +17 min

In late 2022, Harrison joined venture firm General Catalyst, which has backed tech highfliers like Stripe, Snap and Airbnb . This is the first holistic transformation of a health system to a thoughtful combination of digital and in-person care." "It just makes people a little nervous, and it doesn't feel quite aligned with this concept of health care being a human right." To revolutionize how we care for patients, we in health care are doing the same." "This is not like a turnaround, this is not a distressed system," Harrison said.

Persons: Marc Harrison, who's, Astrid Stawiarz, Mark Zuckerberg, Elon Musk, He's, screeds, Harrison, Catalyst, HATCo, Fitch, Ceci Connolly, Connolly, She's, Freddy Krueger, John Bass, Bass, he's, Chris Bischoff, Bischoff, it's, Harrison isn't, Michael Greeley, Greeley, Beaumont, Cliff Deveny, hadn't, Deveny, Ben Sutton, Sutton, Shammas Malik, James Hardy, Hardy, Mayor Malik, Malik, we've, Capital's Greeley, Catalyst's Organizations: Healthy, CNBC, Intermountain Healthcare, Catalyst, Summa Health, Health Assurance Transformation Corporation, Summa Health Medina, Urban Institute, Fitch Ratings, Alliance of Community Health, General Catalyst, HCA Healthcare, University of California Davis Health, Intermountain, Flare Capital Partners, Beaumont Health, Health, Akron, Ideastream Public Media, HATCo Locations: New York City, Silicon Valley, Utah, Ohio, Harrison, PitchBook, U.S, Canada, Israel, Michigan, Beaumont, Akron, Summit County, Akron's

☆ We maintained strong commercial momentum in the U.S, says Aegon CEO
▼ + stars: | 2024-03-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe maintained strong commercial momentum in the U.S, says Aegon CEOLard Friese, CEO of insurance and pensions group Aegon, discusses full year earnings and momentum in the U.S. market with CNBC.

Organizations: Aegon, CNBC Locations: U.S

☆ Many workers believe pensions are key to achieving the American Dream. But getting those plans back isn't easy
▼ + stars: | 2024-03-01 | by ( Lorie Konish | ) www.cnbc.com time to read: +5 min

watch nowMore than three-quarters of Americans, 77%, say the unavailability of pensions is making it harder to achieve the American Dream, according to a new report from the National Institute on Retirement Security. With the shift from pensions to 401(k)s, the responsibility for saving for retirement has transferred from employers to workers. "When not managed properly, defined benefit plans can end up like Ponzi schemes," Greszler said at Wednesday's Senate hearing. Neither Social Security nor multiemployer pensions can pay benefits as promised, she noted. To shore up Social Security, the average American household would have to pay at least $3,000 per year more in taxes, money that would better be invested in personal accounts, Greszler argued.

Persons: Rebecca Cook, Sara Schambers, Schambers, Teresa Ghilarducci, Ghilarducci, Rachel Greszler, Greszler, Sen, Bill Cassidy Organizations: United Auto Workers, Sterling Heights Assembly, Reuters, Ford, Washington , D.C, UAW, National Institute on Retirement Security, Pensions, Finance, Security, Workers, The New School for Social Research, The Heritage Foundation, Senate, Social Security Locations: Sterling Heights, Sterling Heights , Michigan, Washington ,, New

☆ Private credit may offer high yields, but investors should tread carefully. What to know
▼ + stars: | 2024-02-29 | by ( Michelle Fox | ) www.cnbc.com time to read: +8 min

Private credit has become a hot investment on Wall Street as institutional investors seek out alternative investments with attractive dividends. "Investors might consider allocating a portion of their portfolio to private credit, depending on their individual risk tolerance, investment horizon and financial goals." Private credit funds have yields generally in the low-teens, although it can vary, he said. In a February report on U.S. life insurance ratings, Fitch Ratings said, "elevated private credit borrower leverage and a relative deterioration in private credit terms and conditions during more competitive lending environments are adding to pressures in the credit quality of private credit assets." The majority of the portfolio is in direct lending private credit, but a portion is also in publicly-traded securities of larger corporate issuers.

Persons: SoFi, Vivek Paul, Paul, Goldman, Greg Olafson, David Solomon, Fitch, Lisa Kwasnowski, Blackstone, Kwasnowski, Chuck Failla, it's, Failla, Oppenheimer, Mitchel Penn, Penn, Ares Capital, They've Organizations: Street, Franklin BSP Private Credit Fund, CNBC, Wall, BlackRock, Research, Management, UBS, Blackstone Private Credit Fund, Sovereign Financial Group, Securities and Exchange Commission, Owl, Golub, Ares, Sixth, SEC Locations: DBRS Morningstar's

Polls in the states she is expected to visit this week, including Colorado, Minnesota, North Carolina, Utah and Virginia, show her lagging far behind Mr. Trump. Hours before the last ballots were cast in South Carolina, Ms. Haley appeared to suggest a winding down could be in sight. The rest will be allotted at its convention on Saturday in a process likely to advantage Mr. Trump. Mr. Trump focused on the voting in Michigan in his efforts to subvert the 2020 election. Mr. Trump has since maintained a chokehold on the state’s Republican Party, as it has fallen into a political maelstrom of warring factions.

Persons: Nikki Haley, Donald J, Trump, Haley, ”, Joseph R, Biden, Richard Czuba, Haley’s, Koch, bode, “, Denise McDonald, Biden’s, “ He’s, “ We’re, Nicole Craine, Dennis Darnoi, Darnoi, Donald Trump, ” Mr Organizations: Republican, Democratic, PAC, Prosperity, Michigan Republicans, Trump, Biden, Republican National Committee, Mr, The New York Times Michigan, state’s Republican Party, Liberal, Hamas Locations: Michigan, Detroit, South Carolina, Troy, Mich, Lansing, New Hampshire, Colorado , Minnesota, North Carolina , Utah, Virginia, Kiawah, Israel

☆ Meet a boomer who unretired to help her Gen Z kids get through college and find stability: 'They're terrified'
▼ + stars: | 2024-02-23 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +5 min

Like many other parents, Jane said she sees her adult children stuck in an economic predicament that isn't of their own making. "Home prices and rent prices and automobile prices — I don't think that they're aligned with wages in a fair, or in a reasonable, way," Jane said. She wants to get her kids through college and see if they're able to find jobs that are decently paid. But that doesn't mean she's immune to the Sunday scaries: "On those Sunday nights and Monday mornings, I really, really regret it. "I'm hopeful for that, but I'm really not really expecting it," she said.

Persons: Jane, she's, — she's, we're, We're, Jane —, —, they're, it's, Gen Zers, Younger boomers, I'm Organizations: Pew Research Center, Pew Locations: Texas

☆ A fund manager beating 98% of his peers over the last 10 years breaks down why the stock market resembles the 'Nifty 50' bubble of the 1970s, when the market's biggest names got crushed as inflation s
▼ + stars: | 2024-02-22 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Disco is backOthers have also started to compare today's market and the 1970s' "Nifty Fifty." AdvertisementJPMorgan's Chief Global Strategist Marko Kolanovic also said in a note on Wednesday that fiscal spending and inflation could resemble the 1970s landscape. Similar to the 1970s, there are currently 3 active geopolitical conflict zones – eastern Europe, Middle East, and South China Sea," Kolanovic said. Kolanovic included in his note the chart below, which shows the correlation between inflation and the performance of the S&P 500.

Persons: —, Albert Edwards, Bank of America's Michael Hartnett, Jeffrey Gundlach, Cole Smead, Smead, Sears Roebuck, Alphabet's, Nvidia's, Microsoft's, Jeremy Siegel, David Rosenberg, Merrill Lynch, " Rosenberg, Marko Kolanovic, Kolanovic Organizations: Service, Societe Generale, Bank of America's, Treasury, Nasdaq, DoubleLine, Investments, Business, Morningstar, Microsoft, Nvidia, Xerox Locations: Europe, Middle East, South China

☆ Japan’s millennia-old ‘naked man festival’ ending because of population decline
▼ + stars: | 2024-02-20 | by ( Chris Lau | Himari Semans | ) edition.cnn.com time to read: +3 min

They now face a ballooning elderly population and shrinking workforce, in a challenge to fund pensions and health care as demand from the aging population surges. Participants wearing only "Fundoshi" loincloths at the Somin-sai festival at Kokusekiji Temple in Iwate prefecture, Japan, on February 17, 2024. The Asahi Shimbun/Getty ImagesThe Somin-sai festival was one of three major “naked man” or Hadaka Matsuri festivals held in the country. It took place annually on the seventh day of the Lunar New Year at the Kokusekiji Temple in the northeastern prefecture of Iwate. Participants purify themselves with cold water on Yamauchigawa river during Somin-sai festival at Kokusekiji Temple in Iwate prefecture, Japan on February 17, 2024.

Persons: Japan’s, Daigo Fujinami, Priest, “, Kikuchi Toshiaki, ” Organizations: Tokyo CNN, Asahi Shimbun, NHK Locations: Kokusekiji, Japan, Iwate prefecture, Iwate, Okayama prefecture, Kuronuma, Fukushima

☆ NATO: Higher defense spending is no magic bullet after Trump’s attack
▼ + stars: | 2024-02-15 | by ( Luke Mcgee | ) edition.cnn.com time to read: +7 min

It’s first worth noting which countries have most dramatically increased their defense spending since the invasion of Ukraine. Yves Herman/ReutersTrump’s well-documented comments about NATO and European defense spending woke them up from that slumber. The example many point to is a deal struck earlier this year between multiple European countries to buy 1,000 Patriot missiles. “Pensions for soldiers are useful, sure, but they are not going to shoot a Russian,” a European security official told CNN. But it will be worth it, if countries don’t get bored and work together.

Persons: Donald Trump, ”, don’t, Jens Stoltenberg, It’s, Yves Herman, Reuters Trump’s, Theresa May, Trump, EMMANUEL DUNAND, Malcolm Chalmers, Russia – Organizations: CNN, NATO, Reuters, Patriot, Inter, Officials, New Nato Force Model, Getty, Royal United Services Institute, Pensions, “, Diplomats Locations: Russia, NATO, Europe, Ukraine, Poland, Estonia, Lithuania, Finland, Romania, Hungary, Latvia, Slovakia, America, Germany, AFP, European, France, China

☆ Gen Z Is the Most Unsatisfied With Work; for Them, a Job Is Just a Job
▼ + stars: | 2024-02-13 | by ( Eve Upton-Clark | ) www.businessinsider.com time to read: +11 min

And it could explain why Gen Z workers are so much more unsatisfied with their jobs than their older colleagues. Age plays a role in explaining the gap, but Gen Z is also entering the workforce at a unique time. In EY's 2023 Gen Z survey, more than 50% of Gen Zers said they were "extremely worried about not having enough money." For much of Gen Z, a job is just a job. In a Deloitte study from March, only 61% of Gen Z participants said their work was important to their identity.

Persons: Kimi Kaneshina isn't, Wyatt Co, Xers, Zers, millennials, Gen Zers, Aki Ito, That's, Kaneshina, Julia Kensbock, Kensbock, haven't, Kensbrock, —, Gen Z, Corey Seemiller, Seemiller, Felizitas, Z Organizations: Pew Research, Research, Business, University of Bremen, Bain, Co, Workers, Employers, Labs, CFA, LaSalle Network, Wright State University, YouTube, LinkedIn, Deloitte Locations: Southern California, Germany, TikTok, Felizitas Lichtenberg

☆ Government jobs are hot right now. You don't make as much, but people like the stability and benefits.
▼ + stars: | 2024-02-11 | by ( Ana Altchek | ) www.businessinsider.com time to read: +7 min

Read previewBrandon Tamayo considered leaving his current job for a role in the private sector on his way to work one morning. "My friends in the private sector told me 'You could double your pay.'" AdvertisementHe could likely make six figures in the private sector — and he remains intrigued by the option. According to the US Bureau of Labor Statistics, the median years of tenure for public sector jobs in 2022 was 6.8 years, about 2.7 years higher than private sector jobs. For Tamayo, this is the largest reason he stays in the public sector.

Persons: —, Brandon Tamayo, Tomayo, Tamayo, he's, Christine Cruzvergara, Cruzvergara, Raven Blanchard, she's, Blanchard, hasn't, Joe Biden, they've, they're, Symoné Berry, Alexxus Harris, Harris, it's Organizations: Service, Indiana State University, Business, Google, US Bureau of Labor Statistics, ISC, EAP Locations: Illinois, Virginia, Germany, Asia

Closing the wealth gap is more difficult because a significantly larger number of white households traditionally have money in stocks and mutual funds. A separate Fed survey shows that as of 2022, about 65.6% of white households had investments in stocks, compared with 28.3% for Hispanic households and 39.2% for Black households. More than 50% of Black financial wealth is invested in pensions, the New York Fed found. In contrast, less than 30% of white financial wealth is invested in pensions, with about 50% invested in businesses, equities, and mutual funds. In April of 2020, more than 40% of Black business owners reported they were not working, compared with only 17% of white business owners.

Persons: ”, Janelle Jones, Jones, Walley Adeyemo, Adeyemo, ___, Charles Schwab Organizations: New York Federal Reserve Bank, Black, Washington Center for Equitable, Federal Reserve, New York Fed, Bureau of Labor Statistics, Associated Press, Charles, Charles Schwab Foundation, Inc, AP Locations: U.S, America

Abandoning the border proposal brought the price tag of the bill down to about $95.3 billion. There's nearly $14 billion to allow Ukraine to rearm itself through the purchase of weapons and munitions and another nearly $15 billion for support services such as military training and intelligence sharing. About $8 billion would go to help Ukraine's government continue basic operations with a prohibition on money going toward pensions. SPENDING RELATED TO ISRAELAbout $14.1 billion in the bill would go to support Israel and U.S. military operations in the region. There's also about $2.5 billion to support U.S. military operations in the region.

Persons: Donald Trump, Mitch McConnell, ” There's, Chris Van Hollen, he's, Van Hollen, There's Organizations: WASHINGTON, —, Republican, Hamas, West Bank Locations: Ukraine, Israel, Gaza, U.S, Mexico, rearm, CHINA, Taiwan, Australia, United Kingdom

☆ Why millennials' retirement outlook may be worse than older generations
▼ + stars: | 2024-02-09 | by ( Greg Iacurci | ) www.cnbc.com time to read: +9 min

'Deteriorating' retirement outlookAbout 38% of early millennials (those born in the 1980s) will have "inadequate" retirement income at age 70, according to projections from a 2022 Urban Institute study. watch now"We do see the retirement outlook deteriorating for future generations," including millennials, said Richard Johnson, director of Urban's retirement policy program and co-author of the report. Millennials' student loans dent their net worthA 2021 paper by the Center for Retirement Research at Boston College had similar findings. Meanwhile, the last major Social Security overhaul, in 1983, gradually raised the program's "full retirement age" to 67 years old. That will make it easier to save for retirement, according to a Brookings Institution report.

Persons: Jamie Grill, Craig Copeland, Gen X, Xers, Richard Johnson, Johnson, aren't, Millennials, Gen Xers, CRR, X, EBRI, Anqi Chen, Copeland, millennials, they're, William Gale, Hilary Gelfond, Jason Fichtner, there's, Sean Deviney, Deviney Organizations: Social Security, Research Institute, Urban, Center for Retirement Research, Boston College, Research, Transamerica Center, Retirement Studies, Finance, IRA, Pensions, Social, Center, Budget, Brookings Institution, Vanguard Group Locations: U.S, Fort Lauderdale , Florida

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