Clayton Christensen Institute co-founder: This equation reveals how much you should borrow for college

“If you’re in that realm, you’re going to have problems in the long-run.” It’s a smart way to avoid taking on more debt than graduates will be able to handle paying back in the future. But Michael Horn, economist and co-founder of the Clayton Christensen Institute, tells CNBC Make It that there’s a simple way students can predict roughly how much they can afford to borrow for college. “If you’re taking out $80,000 in debt to go to law school for example, and you’re going to a top law school, tha


“If you’re in that realm, you’re going to have problems in the long-run.” It’s a smart way to avoid taking on more debt than graduates will be able to handle paying back in the future. But Michael Horn, economist and co-founder of the Clayton Christensen Institute, tells CNBC Make It that there’s a simple way students can predict roughly how much they can afford to borrow for college. “If you’re taking out $80,000 in debt to go to law school for example, and you’re going to a top law school, tha
Clayton Christensen Institute co-founder: This equation reveals how much you should borrow for college Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-10  Authors: abigail hess
Keywords: news, cnbc, companies, taking, institute, work, equation, students, clayton, school, student, christensen, college, borrow, youre, going, cofounder, schools, reveals, debt


Clayton Christensen Institute co-founder: This equation reveals how much you should borrow for college

“You really want to be mindful that you’re not crossing that threshold of payments that are just going to crush your income because they’re taking up, say, 20, 30% of your monthly paycheck,” he says. “If you’re in that realm, you’re going to have problems in the long-run.”

It’s a smart way to avoid taking on more debt than graduates will be able to handle paying back in the future.

“As students look at the equation for how much they should borrow when they go to college, they ought to be thinking of the total debt that they take on as not being more than 10 to 15% of what their earnings are going to be when they leave college,” says Horn.

But Michael Horn, economist and co-founder of the Clayton Christensen Institute, tells CNBC Make It that there’s a simple way students can predict roughly how much they can afford to borrow for college.

The cost of attending college today is a daunting prospect. According to the College Board’s 2018 Trends in College Pricing Report , from 1988 to 2018, sticker prices tripled at public four-year schools and doubled at public two-year and private non-profit four-year schools, and many students use some kind of student loan to finance their degrees.

Students should think about what they want to study, research how much graduates at a given school in that major make, and not take on more than 10 to 15% of that amount in debt.

For example, according to PayScale, the average salary for an individual with a Bachelor of Engineering degree from New York University is about $91,296 per year. That means a student could plan to take on up to $13,694 (roughly 15% of their projected future salary) in loans to finance this degree.

However, the average salary for a worker with a Bachelor of Social Work degree from New York University is about $50,008 per year, so based on Horn’s recommendation, students should only take on about $7,501 in loans. Additionally, many social work opportunities require students to earn additional accreditation such as a master’s degree, and students should consider these costs as well.

Of course, this math is dependent on a student having a clear understanding of what they plan to pursue after college, something that can be challenging for many young people. Other factors students need to consider include a school’s reputation for graduating successful alumni, as well as its rate of on-time graduations.

“If you’re taking out $80,000 in debt to go to law school for example, and you’re going to a top law school, that’s probably a reasonable investment,” says Horn. “If you’re going to a bottom-third law school, a question you ought to be asking yourself is, ‘Is this worth it?’

“The most crippling debt is when you don’t complete. If [students] don’t complete, it can be crippling because they’re not going to have the wage bump from getting that college credential and so you’re going to be earning roughly as much as someone with a high school diploma is, but you have taken out $10,000 in debt.”

Horn emphasizes that debt totals have a significant impact on the financial lives of borrowers.

“Paying not just the debt back but also the interest on top of it, that can be really punishing to make the books work as you’re trying to think through raising a family, owning a home maybe in the future and other life decisions.”

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Company: cnbc, Activity: cnbc, Date: 2019-07-10  Authors: abigail hess
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After years of spending, tech’s political machine turns to high gear

When Sen. Josh Hawley, R-Mo., introduced legislation last month aimed at major technology companies, a near-endless parade of groups quickly voiced disapproval. TechFreedom, a tech-focused Washington nonprofit, said the proposal would “set up a partisan bloodmatch” between big companies and regulators. The Computer & Communications Industry Association said the bill would set up “government censorship of online speech” and limit freedom. Each of those think tanks and advocacy groups is backed by


When Sen. Josh Hawley, R-Mo., introduced legislation last month aimed at major technology companies, a near-endless parade of groups quickly voiced disapproval. TechFreedom, a tech-focused Washington nonprofit, said the proposal would “set up a partisan bloodmatch” between big companies and regulators. The Computer & Communications Industry Association said the bill would set up “government censorship of online speech” and limit freedom. Each of those think tanks and advocacy groups is backed by
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Company: cnbc, Activity: cnbc, Date: 2019-07-03  Authors: allan smith, mary catherine wellons
Keywords: news, cnbc, companies, washington, political, machine, gear, high, google, groups, bill, institute, think, turns, facebook, internet, techs, companies, tech, spending


After years of spending, tech's political machine turns to high gear

Colin Stretch (L), General Counsel of Facebook, Sean Edgett (C), Acting General Counsel of Twitter, and Richard Salgado (R), Director of Law Enforcement And Information Security of Google, are sworn in prior to testifying during a US Senate Judiciary Subcommittee on Crime and Terrorism hearing on Russian influence on social networks on Capitol Hill in Washington, DC, October 31, 2017.

When Sen. Josh Hawley, R-Mo., introduced legislation last month aimed at major technology companies, a near-endless parade of groups quickly voiced disapproval.

There was plenty of pushback from tech advocacy groups.

TechFreedom, a tech-focused Washington nonprofit, said the proposal would “set up a partisan bloodmatch” between big companies and regulators. The Electronic Frontier Foundation, a tech-focused civil liberties nonprofit, said it would “let the government decide who speaks.” Engine Advocacy, an organization that advocates for policies that help startups, said the legislation, “in an effort to address a nonexistent problem” would “dismantle the sensible regulatory regime that is responsible for the development of the Internet.” The Computer & Communications Industry Association said the bill would set up “government censorship of online speech” and limit freedom.

Those concerns were echoed by a litany of conservative and libertarian-leaning think tanks. Libertarian think tank R Street said the legislation “hurts conservatives” while the Competitive Enterprise Institute, another conservative think tank, said it was “highly regulatory and should be rejected.” The Cato Institute, the American Enterprise Institute, and Americans for Prosperity lambasted the proposal too, calling it “the latest potential disaster ” that “would blow up the internet. ”

Each of those think tanks and advocacy groups is backed by Google, Facebook or both. The companies are not only two of the main targets of Hawley’s bill, but they’re also the focus of broader political scrutiny that now spans both parties and has spilled over into the Democratic presidential race.

With lawmakers ramping up debate over privacy, antitrust and, in Hawley’s case, legal protections the platforms rely on, the Silicon Valley giants are unleashing some of the Washington power they’ve spent the past few years building up, going from a low-key player into the biggest spender in D.C.

And while tech-funded think tanks and advocacy groups have fought other initiatives, the fervor over Hawley’s bill has revealed just how well powerful companies have laid the foundation in Washington to fight efforts to rein them in.

“I’ve never seen pushback in such a fashion before,” Terry Schilling, executive director of the American Principles Project, a conservative think tank, told NBC News. “Even with net neutrality, these groups were all over the place — even though Facebook and Google supported it. It’s safe to say that it’s largely due to pressure from the social media giants that hasn’t been seen before.”

In recent years — after relatively little interaction between Silicon Valley and Capitol Hill — Google and Facebook have ramped up their spending on lobbying, with both companies spending more on such services in 2018 than any year prior, data from the Center for Responsive Politics showed.

Alphabet, Google’s parent company, spent more on federal lobbying than any other company in 2018 at more than $21.7 million. Facebook spent nearly $13 million. That does not include money those companies have spent bolstering think tanks and other Washington influencers, who help shape discussion about policies that affect those companies.

Of course, that comes as the tech giants face calls to be broken up from politicians including Massachusetts Sen. Elizabeth Warren, a Democratic presidential contender, and amid a broader bipartisan push for more stringent regulations and intense scrutiny in Capitol Hill hearings.

“Corporate funded groups are always engaged in issues like this; have done so for many years,” Jeffrey Chester, executive director of the nonprofit Center for Digital Democracy, told NBC News. “But clearly the stakes are higher now, because we have never ever had a time when serious regulation (privacy, antitrust) is on the agenda. And bipartisan. So [last month’s] reaction shows there are five-alarm bells ringing in D.C. from Google and Facebook that have galvanized the groups they support.”

The connection goes as follows: Google provides, in its own terms, “substantial funding” to R Street, the Electronic Frontier Foundation, Engine Advocacy, the Computer & Communications Industry Association, TechFreedom, the Cato Institute, and AEI. Those organizations also receive funding from a variety of other corporate benefactors.

Google, in addition to Facebook, also backs the Competitive Enterprise Institute, while Facebook has provided backing for Americans for Prosperity through The State Policy Network.

Earlier this year, Wired reported on how Google specifically influences Washington, D.C., noting that experts aligned with the company’s viewpoints “frame populist fervor to regulate Big Tech as the work of unserious ‘hipster antitrust’ activists who don’t understand the law, and argue that consumers are better off with the status quo.”

“Scholars and experts may hold these positions independent of financial incentives from tech companies like Google, but both regulators and the public are sometimes left in the dark about potential conflicts of interest,” Wired added.

Google and Facebook did not respond to requests for comment from NBC News.

Hawley’s bill is hardly without opposition from non-tech sources.

A first-term senator who has made battling big tech core to his brand, Hawley proposed the Ending Support for Internet Censorship Act, which would make big tech platforms liable for content posted by their users unless they can earn immunity through FTC audits that prove they’re “politically neutral” when it comes to their algorithms and content-removal practices. The legislation would alter protections enjoyed by tech platforms under Section 230 of the 1996 Communications Decency Act.

Critics of all stripes have said that if those protections were to change, the internet “would probably be decimated overnight ” and that changes to the law could create the opposite effect, causing platforms to purge many more users.

“Senator Hawley has written a bill to deputize the federal government as the Speech Police in flagrant violation of the First Amendment,” Sen. Ron Wyden, D-Ore., and a major player in the passage of the Communications Decency Act, said in a statement.

Meanwhile, the Internet Association — a lobbying group that includes Google and Facebook as members but advocates on industry-wide issues and counts many tech companies in its fold — issued a strong rebuke of the proposal, indicating the totality of the tech objection to the proposal.

Matt Stoller, a fellow at the Open Markets Institute who focuses on monopoly power, told NBC News that last time he “saw this kind of collective temper tantrum by all their trade groups was” during the legislative battle over a pair of bills aimed at curtailing sex trafficking online, which altered Section 230 to remove liability protection for sites that “knowingly” publish any material pertaining to sex trafficking.

But, unlike Hawley’s bill — which Stoller says he does not support — much of that backlash was joined by grassroots activism from sex workers, advocates and survivors of sex trafficking.

On the Hawley bill, Schilling said: “It’s a very tough case to make that the Facebook and Google money don’t play a factor in such a strong and united pushback on this issue.”


Company: cnbc, Activity: cnbc, Date: 2019-07-03  Authors: allan smith, mary catherine wellons
Keywords: news, cnbc, companies, washington, political, machine, gear, high, google, groups, bill, institute, think, turns, facebook, internet, techs, companies, tech, spending


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Anthony Bourdain scholarship will fund students’ study of ‘international cuisines and cultures’

The Culinary Institute of America wants students to be able to follow in the footsteps and tastebuds of one of its most famous alums, Anthony Bourdain. Bourdain, who died in June 2018, graduated from CIA in 1978, and now the chef’s legacy will live in the form of a study abroad grant. The Anthony Bourdain Legacy Scholarship will be awarded annually to one or more students to help them “pursue study abroad and international cuisines and cultures experiences as part of their education at the CIA,”


The Culinary Institute of America wants students to be able to follow in the footsteps and tastebuds of one of its most famous alums, Anthony Bourdain. Bourdain, who died in June 2018, graduated from CIA in 1978, and now the chef’s legacy will live in the form of a study abroad grant. The Anthony Bourdain Legacy Scholarship will be awarded annually to one or more students to help them “pursue study abroad and international cuisines and cultures experiences as part of their education at the CIA,”
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Company: cnbc, Activity: cnbc, Date: 2019-06-25  Authors: elizabeth gravier
Keywords: news, cnbc, companies, bourdain, website, students, anthony, scholarship, fund, cultures, legacy, international, study, institute, york, cuisines, culinary


Anthony Bourdain scholarship will fund students' study of 'international cuisines and cultures'

The Culinary Institute of America wants students to be able to follow in the footsteps and tastebuds of one of its most famous alums, Anthony Bourdain. Bourdain, who died in June 2018, graduated from CIA in 1978, and now the chef’s legacy will live in the form of a study abroad grant. The Anthony Bourdain Legacy Scholarship will be awarded annually to one or more students to help them “pursue study abroad and international cuisines and cultures experiences as part of their education at the CIA,” the school’s website says.

New York Daily News | Getty Images

L. Timothy Ryan, president of The Culinary Institute, told The New York Times that since fundraising just began, the award’s monetary amount is not yet known, but the school hopes the scholarship will create a larger endowment for the future. Donations to the Anthony Bourdain Legacy Scholarship can be made on the school’s website. Bourdain would have turned 63 today. His culinary career began during his time at Vassar College with a summer job as a dishwasher on Cape Cod, but his promotion to a cooking station inspired him to enroll at The Culinary Institute of America. In December 2017, Bourdain delivered CIA’s commencement speech and received an honorary doctorate. His longtime friends and fellow chefs José Andrés and Eric Ripert want to ensure Bourdain’s legacy as someone who loved experiencing life and other cultures through food lives on. Andrés posted a video of the two enjoying beers to celebrate their late friend’s birthday, dubbed #BourdainDay in his honor.


Company: cnbc, Activity: cnbc, Date: 2019-06-25  Authors: elizabeth gravier
Keywords: news, cnbc, companies, bourdain, website, students, anthony, scholarship, fund, cultures, legacy, international, study, institute, york, cuisines, culinary


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This is a $15 trillion opportunity for farmers to fight climate change

Indigo Agriculture, the Boston-based start-up that uses natural microbiology to revolutionize the way farmers grow crops, has unveiled a first-of-a-kind program to tackle climate change worldwide. The company launched the Terraton Initiative on Wednesday to accelerate carbon sequestration from agricultural soil on a massive scale. A marketplace to capture CO2To catalyze the initiative, Indigo is creating the Indigo Carbon marketplace. Growers who join Indigo Carbon for the 2019 crop season are e


Indigo Agriculture, the Boston-based start-up that uses natural microbiology to revolutionize the way farmers grow crops, has unveiled a first-of-a-kind program to tackle climate change worldwide. The company launched the Terraton Initiative on Wednesday to accelerate carbon sequestration from agricultural soil on a massive scale. A marketplace to capture CO2To catalyze the initiative, Indigo is creating the Indigo Carbon marketplace. Growers who join Indigo Carbon for the 2019 crop season are e
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Company: cnbc, Activity: cnbc, Date: 2019-06-11  Authors: lori ioannou, joel dreyfuss
Keywords: news, cnbc, companies, study, opportunity, change, soil, farming, 15, farmers, carbon, companies, sequestration, fight, trillion, institute, climate, practices, worldwide, indigo


This is a $15 trillion opportunity for farmers to fight climate change

Indigo Agriculture, the Boston-based start-up that uses natural microbiology to revolutionize the way farmers grow crops, has unveiled a first-of-a-kind program to tackle climate change worldwide. The company launched the Terraton Initiative on Wednesday to accelerate carbon sequestration from agricultural soil on a massive scale. The goal: to capture 1 trillion metric tons (a teraton) of carbon dioxide worldwide from 3.6 billion acres of farmland through a marketplace that gives farmers incentives to implement regenerative farming practices. Capturing atmospheric carbon dioxide from agricultural soil is a way to restore soil health while returning carbon levels to those prior to the Industrial Revolution, according to the U.N.’s Intergovernmental Panel on Climate Change. Today many environmental experts say agricultural farming emits 25% to 35% of all CO 2 into the atmosphere — more than all modes of transportation combined. The trend has contributed to extreme changes in weather that are reducing crop yields and making livestock more vulnerable to disease. All this threatens the global food supply as demand from a booming global population grows. “The potential for agricultural soils to capture and store atmospheric carbon dioxide is the most hopeful solution I know of to address climate change,” said David Perry, Indigo’s CEO. “The technology and know-how for regenerative farming already exists, so we can begin to make a difference right now.” “And this can be done on a massive scale,” says the company’s co-founder and chief innovation officer, Geoffrey von Maltzahn. These practices include minimal tillage of the soil, cover cropping, crop rotations, using fewer chemicals and fertilizers, and incorporating livestock grazing. These are all ways to increase soil’s carbon content and water retention so less CO 2 is released into the atmosphere. As Maltzahn explains, soils play a key role in the carbon cycle by soaking up carbon from dead plant matter. Plants absorb CO 2 from the atmosphere through photosynthesis and pass carbon to the ground when dead roots and leaves decompose. But it can cause carbon to be released from the soil at a faster rate than it is replaced. This net release of carbon to the atmosphere contributes to global warming.

A marketplace to capture CO2

To catalyze the initiative, Indigo is creating the Indigo Carbon marketplace. Growers who join Indigo Carbon for the 2019 crop season are eligible to receive $15 per metric ton of carbon dioxide sequestered. In partnership with the Ecosystem Services Market Consortium and other organizations, such as The Rodale Institute and the Soil Health Institute, Indigo will use its digital agronomy capabilities and software imagery analysis to measure and verify soil carbon sequestration and on-farm emission levels.

At the same time, Indigo is partnering initially with the Soil Health Institute, the Rodale Institute, and a network of grower partners to launch the largest longitudinal study of soil carbon on record. The goal of the study, which will include tens of thousands of farms followed for a decade or more, is to quantify farming practices that maximize soil carbon sequestration and understand the impact of these practices on farm profitability and crop nutrition. The results of this study will form the blueprint for maximizing soil carbon sequestration. Indigo intends to make the data from this study available to other research institutions.

We are willing to put our balance sheet at risk for the first year, because we have a high degree of confidence we will have buyers and other partners to help cover the costs. David Perry Indigo Agriculture CEO

Initially, Indigo will market the initiative to its 10,000 grower customers worldwide through its account managers and agronomists. They will be testing soil samples to determine carbon and nutrient concentrations. But the exchange is open to everyone. To encourage innovation and participation in the effort, Indigo is launching several open calls to action. This includes the Carbon Cup, a nationwide sequestration competition to spark on-farm innovation. Broken down on a region-by-region basis, first-place growers competing in the Carbon Cup will receive recognition and a monetary prize for their efforts. Additionally, Indigo is launching a series of challenges, calling on innovators and entrepreneurs to develop technologies for maximizing soil carbon sequestration rates, improving soil carbon measurements and reducing the need for chemical and fertilizer inputs. Winning innovations will be awarded $1 million contracts by Indigo. Source: Mauna Loa Observatory The hope is that this effort will encourage more innovation in sustainable farming practices worldwide and encourage all parties in the food chain — from food companies and packaged goods companies to retailers — to align business practices toward this goal. Many companies are seeking ways to be carbon neutral, and many investors, insurance companies and nonprofits are eager to support such endeavors. One of the first companies on board is Anheuser-Busch. It has agreed to buy 2.2 billion of Indigo sustainable rice that is grown with specific environmental attributes. Growers contracting with Indigo to produce rice for Anheuser-Busch will reduce water and nitrogen use by 10% and achieve at least 10% savings in greenhouse-gas emissions compared to state benchmarks.

Sparking a revolution in farming


Company: cnbc, Activity: cnbc, Date: 2019-06-11  Authors: lori ioannou, joel dreyfuss
Keywords: news, cnbc, companies, study, opportunity, change, soil, farming, 15, farmers, carbon, companies, sequestration, fight, trillion, institute, climate, practices, worldwide, indigo


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Arms race fears spike over alleged Saudi Arabia ballistic missile site

Satellite imagery reportedly revealing a ballistic missile facility deep in the Saudi desert spotlights Riyadh’s increased investment in its independent warfighting capabilities, U.S. defense experts say. “There’s an arms race underway,” Michael Rubin, a former Pentagon official and Arab affairs expert at the American Enterprise Institute, told CNBC. “Whiplash policy changes in Washington have had their impact on Riyadh: Saudi authorities are no longer going to be constrained by White House whis


Satellite imagery reportedly revealing a ballistic missile facility deep in the Saudi desert spotlights Riyadh’s increased investment in its independent warfighting capabilities, U.S. defense experts say. “There’s an arms race underway,” Michael Rubin, a former Pentagon official and Arab affairs expert at the American Enterprise Institute, told CNBC. “Whiplash policy changes in Washington have had their impact on Riyadh: Saudi authorities are no longer going to be constrained by White House whis
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Company: cnbc, Activity: cnbc, Date: 2019-02-01  Authors: natasha turak, fayez nureldine, afp, getty images, planet labs inc, middlebury institute of international studies, atta kenare, -bruce riedel, former cia officer, gulf affairs expert
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Arms race fears spike over alleged Saudi Arabia ballistic missile site

Satellite imagery reportedly revealing a ballistic missile facility deep in the Saudi desert spotlights Riyadh’s increased investment in its independent warfighting capabilities, U.S. defense experts say.

This, they believe, indicates a growing desire by the longtime ally to be able to take offensive measures without the approval of its main weapons sponsors in Washington.

“There’s an arms race underway,” Michael Rubin, a former Pentagon official and Arab affairs expert at the American Enterprise Institute, told CNBC. “Whiplash policy changes in Washington have had their impact on Riyadh: Saudi authorities are no longer going to be constrained by White House whispers. The Saudis are demonstrating that they can take matters into their own hands.”

Images analyzed by missile defense experts at the Middlebury Institute of International Studies in Monterey, California, and first reported by The Washington Post, appear to show the testing and possible manufacturing of ballistic missiles. These can carry nuclear warheads to targets thousands of miles from their launch point. International powers have sanctioned Iran for its own frequent testing of the weapons.


Company: cnbc, Activity: cnbc, Date: 2019-02-01  Authors: natasha turak, fayez nureldine, afp, getty images, planet labs inc, middlebury institute of international studies, atta kenare, -bruce riedel, former cia officer, gulf affairs expert
Keywords: news, cnbc, companies, alleged, spike, testing, fears, weapons, arms, race, missile, experts, site, arabia, washington, ballistic, international, institute, defense, saudi


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As Trump touts ‘thriving’ steel industry and manufacturing, insiders disagree

Trump singled out the steel industry as a “miracle,” saying the sector was now “thriving” despite being “practically out of business when I came in to office as president.” However, recent industry data does not appear to back that claim. “Profitability has increased, but this hasn’t meant that tens of thousands of American steel workers suddenly have a job. Manufacturing is also expanding, adding 32,000 jobs in December, the bulk of which — 19,000 jobs — was in durable goods production. “With 3


Trump singled out the steel industry as a “miracle,” saying the sector was now “thriving” despite being “practically out of business when I came in to office as president.” However, recent industry data does not appear to back that claim. “Profitability has increased, but this hasn’t meant that tens of thousands of American steel workers suddenly have a job. Manufacturing is also expanding, adding 32,000 jobs in December, the bulk of which — 19,000 jobs — was in durable goods production. “With 3
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Company: cnbc, Activity: cnbc, Date: 2019-01-05  Authors: martha c white, alex edelman, afp, getty images
Keywords: news, cnbc, companies, jobs, trade, data, touts, american, workers, steel, industry, disagree, thriving, manufacturing, insiders, institute, trump


As Trump touts 'thriving' steel industry and manufacturing, insiders disagree

President Donald Trump touted the success of his trade and economic policies in remarks to reporters in the White House Rose Garden on Friday while praising the monthly jobs report numbers.

Trump singled out the steel industry as a “miracle,” saying the sector was now “thriving” despite being “practically out of business when I came in to office as president.”

However, recent industry data does not appear to back that claim. Shares in U.S. Steel have fallen by more than 60 percent since their high last year, and industry experts describe “a secular downtrend” that could eventually reach “a low in the single digits.”

“I don’t think it’s valid to say that it’s come roaring back. It hasn’t. It’s stopped falling,” said Jacob Kirkegaard, senior fellow at the Peterson Institute for International Economics. “Profitability has increased, but this hasn’t meant that tens of thousands of American steel workers suddenly have a job. Over the course of the Trump presidency, you’re looking at an increase of about 4,000 jobs. For an industry that has somewhere between 80,000 and 140,000 employees… it is positive, but at the great expense of other sectors.”

The monthly jobs report, prepared by the Bureau of Labor Statistics, did show gains in the healthcare sector, which added 50,000 jobs last month and 346,000 for the year. Manufacturing is also expanding, adding 32,000 jobs in December, the bulk of which — 19,000 jobs — was in durable goods production.

This growth, which included the addition of 7,000 jobs in the manufacturing of fabricated metal products and 4,000 jobs in computer and electronic product production, was cheered by Alliance for American Manufacturing president Scott Paul, who credited the Trump administration’s protectionist policies in a statement. “With 32,000 new jobs last month, tough action against trade cheats is helping create new jobs for American workers,” he said.

But bellwether American businesses from Apple to General Motors have blamed the Trump administration’s policies on trade for falling sales and lost jobs, and the Institute for Supply Management’s most recent manufacturing index, while still expansionary at 54.1 (figures of 50 and higher indicate expansion), fell by 5.2 points, the largest month-to-month drop since the financial crisis.

Economists warned that the manufacturing sector’s gains could be vulnerable if if the current trade negotiations with China fall apart, and tariffs on steel and aluminum are raised or trade sanctions are expanded to include a much broader array of Chinese goods — including many consumer goods.

“It may be disguised right now because we have such high employment levels,” said Nicholas Lardy, a senior fellow at Peterson Institute for International Economics, adding that workers and job-seekers could start feeling the effects of a trade war within a few quarters if input costs were to spike, or higher prices on retail goods prompted a slowdown in consumer spending.

This is critical because the currently robust level of consumer spending is key to the expansion of two other labor market sectors that expanded in December: retail and leisure and hospitality. ADP’s payroll report found that leisure and hospitality businesses added 39,000 jobs; the BLS documented an increase of 41,000 new jobs at food service establishments like restaurants and bars. And despite retailers’ well-documented challenges shifting from brick-and-mortar to omnichannel shopping, the holiday shopping season was a boon. Stores — particularly general merchandise stores and car dealerships — added a total of 24,000 jobs last month, BLS data found.

“The problem with some of these is they can become self-fulfilling. If they extend for a long period of time, they can start to hurt soft sentiment survey data and eventually that spills into hard data,” said Darrell Cronk, president of the Wells Fargo Investment Institute.


Company: cnbc, Activity: cnbc, Date: 2019-01-05  Authors: martha c white, alex edelman, afp, getty images
Keywords: news, cnbc, companies, jobs, trade, data, touts, american, workers, steel, industry, disagree, thriving, manufacturing, insiders, institute, trump


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Job loss has more risks, repercussions and pain for older workers

To be sure, the current job market is rosy. Yet 56 percent of older workers experience at least one involuntary job loss after age 50, according to a new joint analysis from nonprofit newsroom ProPublica and Urban Institute, a think tank that focuses on economic and social policy research. ProPublic and Urban Institute analyzed data from the Health and Retirement Study, a longitudinal study sponsored by the National Institute on Aging and the Social Security Administration that tracks older adul


To be sure, the current job market is rosy. Yet 56 percent of older workers experience at least one involuntary job loss after age 50, according to a new joint analysis from nonprofit newsroom ProPublica and Urban Institute, a think tank that focuses on economic and social policy research. ProPublic and Urban Institute analyzed data from the Health and Retirement Study, a longitudinal study sponsored by the National Institute on Aging and the Social Security Administration that tracks older adul
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Company: cnbc, Activity: cnbc, Date: 2019-01-04  Authors: kelli b grant, john foxx, getty images, marvin couch
Keywords: news, cnbc, companies, repercussions, health, workers, urban, loss, risks, study, older, retirement, pain, job, social, institute


Job loss has more risks, repercussions and pain for older workers

For workers in their 50s, the career trajectory to retirement can start to look less like a straight track and more like the lift hill of a roller coaster — just before a series of scream-inducing drops, twists and rolls. Are your finances ready for that ride?

To be sure, the current job market is rosy. Yet 56 percent of older workers experience at least one involuntary job loss after age 50, according to a new joint analysis from nonprofit newsroom ProPublica and Urban Institute, a think tank that focuses on economic and social policy research.

ProPublic and Urban Institute analyzed data from the Health and Retirement Study, a longitudinal study sponsored by the National Institute on Aging and the Social Security Administration that tracks older adults. Researchers focused on employer-related separations such as layoffs and business closings, among other reasons, and particularly looked at instances that were “financially consequential” with either long periods of unemployment or sustained, substantial wage loss. (Early exits due to issues including caregiving and poor health — which can also be a financial concern — weren’t included.)


Company: cnbc, Activity: cnbc, Date: 2019-01-04  Authors: kelli b grant, john foxx, getty images, marvin couch
Keywords: news, cnbc, companies, repercussions, health, workers, urban, loss, risks, study, older, retirement, pain, job, social, institute


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Key reading of the manufacturing sector falls to lowest level in more than 2 years

Activity in the U.S. manufacturing sector expanded at a much slower pace than expected last month, according to the Institute for Supply Management. The ISM manufacturing index fell to 54.1 in December, its lowest level since November 2016. “Demand softened, with the New Orders Index retreating to recent low levels, the Customers’ Inventories Index remaining too low — a positive heading into the first quarter of 2019 — and the Backlog of Orders declining to a zero-expansion level.” “The manufact


Activity in the U.S. manufacturing sector expanded at a much slower pace than expected last month, according to the Institute for Supply Management. The ISM manufacturing index fell to 54.1 in December, its lowest level since November 2016. “Demand softened, with the New Orders Index retreating to recent low levels, the Customers’ Inventories Index remaining too low — a positive heading into the first quarter of 2019 — and the Backlog of Orders declining to a zero-expansion level.” “The manufact
Key reading of the manufacturing sector falls to lowest level in more than 2 years Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-03  Authors: fred imbert, luke sharrett, bloomberg, getty images
Keywords: news, cnbc, companies, fiore, sector, reading, institute, fell, supply, lowest, manufacturing, lower, level, low, index, levels, falls, orders, key


Key reading of the manufacturing sector falls to lowest level in more than 2 years

Activity in the U.S. manufacturing sector expanded at a much slower pace than expected last month, according to the Institute for Supply Management.

The ISM manufacturing index fell to 54.1 in December, its lowest level since November 2016. Economists polled by Refinitiv expected the index to slip to 57.9 in December, down from 59.3 in November.

“Comments from the panel reflect continued expanding business strength, but at much lower levels,” said Timothy Fiore, chair of the Institute for Supply Management, in statement. “Demand softened, with the New Orders Index retreating to recent low levels, the Customers’ Inventories Index remaining too low — a positive heading into the first quarter of 2019 — and the Backlog of Orders declining to a zero-expansion level.”

“The manufacturing community continues to expand, but at much lower levels and at a sharp decline from November,” Fiore said. New orders fell to 51.1 in December from 62.1 in November.


Company: cnbc, Activity: cnbc, Date: 2019-01-03  Authors: fred imbert, luke sharrett, bloomberg, getty images
Keywords: news, cnbc, companies, fiore, sector, reading, institute, fell, supply, lowest, manufacturing, lower, level, low, index, levels, falls, orders, key


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It may sound crazy, but employees are leaving money on the table at work

Can you imagine refusing a portion of your paycheck and giving the money back to your employer instead? That’s essentially what you’re doing if you fail to use your benefits to their full extent. In fact, your workplace benefits average out to approximately 31 percent of your compensation, according to the Bureau of Labor Statistics. The institute surveyed 2,026 adults in an online poll in April. Here are the most valued workplace benefits and how to get the most out of them.


Can you imagine refusing a portion of your paycheck and giving the money back to your employer instead? That’s essentially what you’re doing if you fail to use your benefits to their full extent. In fact, your workplace benefits average out to approximately 31 percent of your compensation, according to the Bureau of Labor Statistics. The institute surveyed 2,026 adults in an online poll in April. Here are the most valued workplace benefits and how to get the most out of them.
It may sound crazy, but employees are leaving money on the table at work Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-28  Authors: darla mercado
Keywords: news, cnbc, companies, benefits, table, employees, workplace, youre, crazy, statisticsthe, institute, money, work, leaving, valued, things, workers, surveyed, thousand, sound


It may sound crazy, but employees are leaving money on the table at work

Can you imagine refusing a portion of your paycheck and giving the money back to your employer instead?

That’s essentially what you’re doing if you fail to use your benefits to their full extent.

“It’s often the little things that add up,” said Kelley Long, CPA and member of the American Institute of CPAs’ Consumer Financial Education Advocates.

“It can equal a couple thousand dollars per year, literally cash in your pocket,” she said.

In fact, your workplace benefits average out to approximately 31 percent of your compensation, according to the Bureau of Labor Statistics.

The point isn’t lost on workers: Four out of 5 individuals polled by the AICPA said they would choose a job with benefits over an identical gig that offered a 30 percent increase in salary but no benefits.

The institute surveyed 2,026 adults in an online poll in April.

Here are the most valued workplace benefits and how to get the most out of them.


Company: cnbc, Activity: cnbc, Date: 2018-11-28  Authors: darla mercado
Keywords: news, cnbc, companies, benefits, table, employees, workplace, youre, crazy, statisticsthe, institute, money, work, leaving, valued, things, workers, surveyed, thousand, sound


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German growth faces risks at home and abroad, economists say

Germany’s economy faces risks on both a domestic and international level, according to prominent German economists, and there is little the country can do about a lot of them. “For me there are two risks,” Achim Wambach, the president of Germany’s influential ZEW research institute, told CNBC on Monday. “But then we also see homemade risks, in particular, in the automobile industry,” he told CNBC’s Annette Weisbach at the German Economic Summit in Berlin. The latest ZEW Institute measure of econ


Germany’s economy faces risks on both a domestic and international level, according to prominent German economists, and there is little the country can do about a lot of them. “For me there are two risks,” Achim Wambach, the president of Germany’s influential ZEW research institute, told CNBC on Monday. “But then we also see homemade risks, in particular, in the automobile industry,” he told CNBC’s Annette Weisbach at the German Economic Summit in Berlin. The latest ZEW Institute measure of econ
German growth faces risks at home and abroad, economists say Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-13  Authors: holly ellyatt, phas, uig, getty images
Keywords: news, cnbc, companies, institute, zew, economic, faces, told, germanys, potential, abroad, economists, german, risks, economy, say, growth


German growth faces risks at home and abroad, economists say

Germany’s economy faces risks on both a domestic and international level, according to prominent German economists, and there is little the country can do about a lot of them.

“For me there are two risks,” Achim Wambach, the president of Germany’s influential ZEW research institute, told CNBC on Monday. “There are political risks – Brexit is not decided, and then we see Italy (and its populist government) which makes markets nervous — and we see protectionism in the U.S. and China which, for Germany’s export-orientated economy, would be a potential risk on the horizon.”

“But then we also see homemade risks, in particular, in the automobile industry,” he told CNBC’s Annette Weisbach at the German Economic Summit in Berlin.

The latest ZEW Institute measure of economic sentiment among financial experts in Germany showed what Wambach called a “severe” drop on that metric in October to a level of minus 24.7 points.

The indicator has thus reached the same low-point as in July of this year, being at its lowest reading since August 2012, ZEW said. The negative expectations were largely a result of the trade dispute between China and the U.S.

Germany’s economy is expected to have seen weak growth in the third quarter largely due to concerns over international trade and a dip in car manufacturing, one of its major export industries, although the Bundesbank believes growth should rebound in the final three months of the year. The German government expects 2018 growth to be 1.8 percent, down from an initial 2.3 percent previously forecast.

Christoph Schmidt, an economist and president of the RWI Essen (the RWI-Leibniz Institute for Economic Research) told CNBC that the latest growth data was a temporary blip but that Germany faced longer-term risks.

“It’s a unique quarter I think, the German economy will bounce back and we think it will grow according to potential, roughly 1.6 percent this year and 1.5 percent in 2019 so this temporary blip will be overcome but there’s not enough potential to grow stronger than potential now so it will be a one-off loss,” he said, speaking to CNBC’s Annette Weisbach on Monday.


Company: cnbc, Activity: cnbc, Date: 2018-11-13  Authors: holly ellyatt, phas, uig, getty images
Keywords: news, cnbc, companies, institute, zew, economic, faces, told, germanys, potential, abroad, economists, german, risks, economy, say, growth


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