With the baby boomers starting to retire, companies are now seeing the need to compete for the best of Generation Y. This article stated that more than half of Generation Y's graduates move back to their mom and dad's house for the extra support and time to help them find the job they really want. Because Generation Y is being so picky, companies are having to be more creative as they try to woo this generation's different wants and needs. It was found that this generation cares more about work-life balance. Jobs that have good people to work with and support volunteering are important. I think it's interesting to see the difference of generations: our grandparents hated having days off because it meant less money, whereas this generation loves having the occasional day off (after expenses are paid for) because sometimes their enjoyment is more important to them than getting a few extra dollars.
This article, however, warned me that while the refinancing may be good, I'll need to take care of it fast. It is actually the bond market that determines the mortgage rate, not the Fed. Fixed mortgages are linked to the 10-year Treasury, which is actually rising right now. However, these rates are still below 6%, and Quicken Loans chief economist Robert Walters said, "We don't get many opportunities to take a 30-year fixed below 6%." Adjustable-rate mortgages are pegged to the 1-year Treasury, which is expected to continue to decrease, so refinancing would be a good idea here.
It sounds like there's plenty of demand for the iPhone, but that the problem is the low demand for the AT&T network. There are plenty of substitutes for different networks, but not as many for an iPhone. Maybe Apple could come up with a different strategy that didn't depend so heavily on one network.
In 2005, the U.S. savings rate hit it's lowest level since 1933. Personal savings dropped to negative 0.5%, which means that Americans spent more than they made and dipped into their savings to make up the difference. The only other time the savings rate has been in negative numbers (according to the article published in 2006) was in 1932 and 1933 – prime years of the Great Depression. Analysts argue that a cause for the increased spending was consumers' confidence in the value of their homes.
I wonder how confident consumers are feeling about their homes in 2008?
The lack of agreement concerning the writer's strike at NBC is costing not just the writer's their salaries, but also the network, advertisers, and actors, to name a few. According to this article, at the recent Golden Globes show, “NBC lost millions of dollars in ad revenue, and award winners were deprived of instant publicity that could provide a box-office bump.” Last year's Globes ceremony had 20 million viewers, compared to a mere 5.8 million this year. NBC normally earns over $15 million from advertisements, but they will receive much less this year. The Hollywood Foreign Press Association lost a $6 million license fee from the network.
NBC and the writers have been at a standstill since December 7, 2007. While they continue to argue, more and more dollars will be lost to many. Plus, viewers won't get to watch the shows they enjoy. It seems that everyone is losing out here, but yet, still no agreement.
- Parents asked not to bring homemade cakes to school fêtes
- Flowers banned at a hospital in attempt to stop the spread of MRSA
- Hanging baskets banned in case they fall on people
- Children banned from using egg boxes in art class in case they catch salmonella
- Children forced to ride inflatable sheep at a Welsh Donkey Derby”
Ridiculous, isn't it? This article shares some of the things people and organizations in Britain have had to do to protect themselves from lawsuits and penalties. The overly protective rules have caused numerous unnecessary costs, hurting the economy.
Britain's government has set up a national campaign to stress the importance of self-reliance and to inform the public that the government is not responsible for every random accident that may happen.
If you asked someone if they wanted the world to be safer, naturally they would say yes. But we must keep in mind the trade-offs and that there is no such thing as a free lunch. I think it's sad how out of hand some laws have become, but I'm sure those laws were made for protection from lawsuits.
Loss aversion is the tendency for people to strongly (usually two times as strong) prefer avoiding losses as opposed to achieving gains. This article demonstrates that a person would rather make $50,000 a year while those around him or her made $25,000, as opposed to making $100,000 a year while others made $250,000. Most people would rather “pay” $50,000 to be the one with the highest salary and not have the feeling of a loss. People would rather receive less money in a winning situation than to receive more money in a losing situation. Rationally, this does not make sense. However, psychological factors definitely come into play with salary, the stock market, and many other things in the business world.
This website - http://www.american.com/archive/2007/december-12-07/the-great-recession-of-2008 - believes that the economic relief package incentives that Bush has sent would stimulate the economy and prevent a recession. Many economic forecasters expect a growth, the weak US dollar would make American exports more competitive (which would increase economic growth and employment), and the recession thing would not last "several months" to call it as recession. So don't worry guys - we are going to survive - we are going to stick together!
This article announces the ban on incandescent lightbulbs which will take full effect in 2014. Wow! When I first heard this announcement I thought it had to be a joke. The government is now in control of what kind of lightbulbs we use. Before you know it they will be mandating the kind of toilet paper we use, how much, and how often.
I understand the underlying reasons for this new regulation: energy conservation. However, it seems that the approach could have been handled differently. For example, energy efficient automobiles, a.k.a. Hybrids, are on the market. There is no law requiring consumers to drive these vehicles rather people choose to drive them because of the energy-saving benefits they provide. They have increased in popularity and become more affordable since their first debut several years ago. More and more people are driving them by choice, not by government mandate.
Could the same idea be applied to the lightbulbs? Of course! The technology for a more energy-efficient bulb is already in effect: the compact fluorescent bulb. It is available on the market but apparently not being used by consumers as much as the government, power companies, and light bulb manufacturers would like.
Don't get me wrong--I am in favor of energy conservation. My issue with this new mandate is the degree of involvement the government has in our lives. It is not right for every aspect of our lives to be under government scrutiny and control. Consumers will choose compact fluorescent bulbs when the product makes sense by price as well as efficiency.
To be more accurate, what our national economy has recently suffered is merely slow growth, but "slow growth" is boring and doesn't get the same frenzied reaction as "recession". Certainly everywhere we look we see a gloomy picture with the housing, job, and stock markets dropping and oil prices, unemployment, and inflation rising, but luckily we can all take comfort in knowing that we are not, by its standard definition, in a recession.