Lenovo COO Lanci to retire

Gianfranco Lanci, COO and president for Lenovo, will retire from the PC vendor in September 2021. The company also disclosed organization and personnel changes that will become effective on April 1......»»

Category: topSource: digitimesFeb 5th, 2021

ONEOK (OKE) Sets Target to Trim Scope 1 and Scope 2 Emissions

ONEOK (OKE) targets a combined Scope 1 and Scope 2 emission reduction by 30% within 2030 from the 2019 base levels to make its operations more environmentally sustainable. ONEOK, Inc. OKE announces its plans to reduce Scope 1 and Scope 2 greenhouse gas (GHG) emissions by 30% from the 2019 levels of 7.2 million metric tons (MMT). The target will be to curb emission by 2.2 MMT within 2030. Along with setting sustainability targets, the company is exploring opportunities to expand its role in a lower-carbon economy.To meet the target, it will undertake efforts like electrification of certain natural gas compression assets and methane reductions along with identifying opportunities to collaborate with other utilities and power generators to achieve its aim. In fact, since 2014, the company has internal environmental metric to promote the reduction of emissions.Transition in the IndustryOne of the biggest challenges today is climate change due to increasing emission of GHG. With increasing awareness of trimming toxic emissions globally, companies are adopting clean energy sources to provide environmentally-friendly energy to its end users. Even the current US regime had announced plans to reach the net-zero emissions economy by 2050.The quest of the utilities to cut down on emission will assist in lowering the release of harmful GHG. UGI Corp. UGI disposed of its 5.97% ownership interest in the Conemaugh coal-fired generating station in fiscal 2020 to slash the total Scope I direct emissions by more than 30%. Also, in May 2021, it announced plans to curb Scope I GHG emissions by 55% within 2025. Another utility MDU Resources MDU retired Lewis & Clark coal facilities in March and will retire Hesket I & II coal-fired stations in early 2022.Atmos Energy ATO aims at reducing methane emissions by 10-15% in the next five years from the current levels. The company also looks to lower methane emissions by 50% within 2035 from the 2017 levels.Price PerformanceShares of the company have gained 15.6% in the past six months against the industry’s fall of 1.6%.Six Months Price PerformanceImage Source: Zacks Investment ResearchZacks RankCurrently, the stock carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Time to Invest in Legal Marijuana If you’re looking for big gains, there couldn’t be a better time to get in on a young industry primed to skyrocket from $17.7 billion back in 2019 to an expected $73.6 billion by 2027. After a clean sweep of 6 election referendums in 5 states, pot is now legal in 36 states plus D.C. Federal legalization is expected soon and that could be a still greater bonanza for investors. Even before the latest wave of legalization, Zacks Investment Research has recommended pot stocks that have shot up as high as +285.9%. You’re invited to check out Zacks’ Marijuana Moneymakers: An Investor’s Guide. It features a timely Watch List of pot stocks and ETFs with exceptional growth potential.Today, Download Marijuana Moneymakers FREE >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report ONEOK, Inc. (OKE): Free Stock Analysis Report Atmos Energy Corporation (ATO): Free Stock Analysis Report UGI Corporation (UGI): Free Stock Analysis Report MDU Resources Group, Inc. (MDU): Free Stock Analysis Report To read this article on click here. Zacks Investment Research.....»»

Category: topSource: zacksSep 24th, 2021

Zoom nabs JPM banker - Citi DEI head"s plans - BofA"s new org chart

The top finance news for Sept. 23, including the latest on Zoom poaching one of JPMorgan's tech bankers, and BofA's new org chart. Welcome to Insider Finance. If this was forwarded to you, sign up here. Plus, download Insider's app for news on the go - click here for iOS and here for Android.On the agenda today:Zoom nabbed a JPMorgan tech banker. Citi's head of diversity wants to shake up Wall Street. Bank of America revealed its new org chart after a massive leadership shakeup. Let's get started. Zoom just nabbed a JPMorgan tech banker Reuters After 16 years with JPMorgan, Sanjay Rao has joined video-conferencing company Zoom to head its M&A strategy. The tech investment banker joins following a year of record-breaking growth for Zoom. More on Rao, the latest Wall Streeter to jump to tech.Citi's new head of diversity wants to shake up Wall Street Bloomberg For Insider's first installment of The Equity Talk, we sat down with Erika Irish Brown, Citi's head of DEI. Brown discussed how she's measuring the effect of DEI at the bank - see what she told us here.Bank of America reveals its new org chart Bank of America Bank of America announced sweeping changes to its leadership team earlier this month, with more than 15 leaders seeing their roles change. We've got two charts breaking down BofA's new leadership, and who's running which business lines.BofA's CEO detailed the firm's approach to tech and ops budgeting John Lamparski/Getty Images Bank of America's Brian Moynihan explained the "constant fight" his new tech and ops leaders will face when cutting costs in their $14 billion budget. Even though the bank has cut the budget down by billions, Moynihan said it's still seeing client volumes grow. Here's what else he said.Procore just agreed to acquire Levelset Courtesy of Levelset and Procore Procore, a cloud-based construction-management software company, announced it will buy software firm Levelset for $500 million. The deal will help Procore solve one of the construction industry's biggest problems: getting paid. Here's what you need to know.A top European bank research analyst is leaving Goldman Sachs Danny Moloshok/Reuters Jernej Omahen, Goldman Sachs' head of research for its European financial institutions group, is leaving the bank. Omahen, a partner and 20-year Goldman veteran, announced his plans to retire this week, marking another partner exit from the firm. What we know so far.ExodusPoint has poached two portfolio managers Icon Sportswire ExodusPoint Capital is looking to supercharge its macro trading business - and has poached two star portfolio managers to do so. Pablo Duran Steinman, head of macro at the family office of George Soros, will join the $14 billion fund, as will Eisler Capital's Mukesh Murarka. More on that here.On our radar:When he first joined Goldman Sachs, Jernej Omahen had 42 interviews in three days, according to eFinancialCareers. More on his interview process.Page Six reports that billionaire John Paulson and wife are in the midst of what could be one of the most expensive divorces of all time.Facebook's CTO is stepping down. Here's everything we know about his departure.Read the original article on Business Insider.....»»

Category: topSource: businessinsiderSep 23rd, 2021

Surprise City Council postpones interview process for next city manager

Surprise City Council is postponing the recruitment for its next city manager in coordination with CPS HR Consulting. Mayor Skip Hall said in a statement that the current city manager, Mike Frazier, will not retire until after the new year, "so our council has some time to explore all our options." News of the postponement came months after the city announced it was looking for applicants for the position due to Frazier's January 2022 retirement. Frazier initially joined the city of Surprise in….....»»

Category: topSource: bizjournalsSep 22nd, 2021

Only half of the people who lost jobs during COVID are going back to work

Millions of Americans aren't returning to work, JPMorgan found. Some are worried about childcare, others expect more out of a job than they used to. A customer walks by a now hiring sign at a BevMo store on April 02, 2021 in Larkspur, California. Justin Sullivan/Getty Images JPMorgan found that half of the people who lost jobs during COVID aren't looking for a new one. Those 2.9 million people who dropped out of the labor force may have retired, or are still waiting to return. There's a number of reasons people aren't returning, from childcare to expecting more out of a job. See more stories on Insider's business page. The pandemic is dragging on and people aren't rushing back to work, despite anecdotes of signing bonuses, the end of federal unemployment benefits, and rising wages. Now, a note from JPMorgan's Jesse Edgerton shows just how many people haven't returned."Loosely speaking, about half of the people who lost jobs during COVID are still actively looking for work, while the other half are not," Edgerton writes. That comes from a comparison of pre-COVID employment to today. When the pandemic first hit, employment dropped by 15% - meaning that 22 million jobs were shed.Now, about 17 million more jobs have been added since pandemic employment hit its lowest, but that still leaves about 5.5 million jobs to go before reaching pre-COVID levels. According to JPMorgan, about 2.9 million of those jobs represent a "decline in the labor force" - meaning that those people have dropped out and aren't actively seeking employment.Notably, JPMorgan finds that 900,000 of those who departed the labor force are age 55 or older; they might be part of the flock of early retirees driven by the pandemic. A report from the Federal Reserve Bank of Kansas City found that retirement shot up between February 2020 to June 2021 by 1.3% - well above the usual 0.3% rise. Insider's Ben Winck reported that Americans are now planning to retire earlier than ever, with the new retirement age coming in at 62.But that means that 2 million Americans could be lured back into the labor force, and JPMorgan believes that they "will continue to drift back into employment" in the midst of a tight market. Some may return as their pandemic savings - whether from stimulus checks or other federal support - dwindle. It may seem paradoxical for unemployment to remain high as job openings continue to reach record highs and wages rise to lure back workers. But there's a number of reasons that holes remain. One of them is childcare, with schools facing potential closures as the Delta variant spreads. And, as The Washington Post's Heather Long reports, childcare is facing its own staffing crisis, as workers leave the low-paying industry - and the industry sees 126,700 fewer workers than pre-pandemic.Women over the age of 20, who already had a lower labor force participation than men, were particularly pummeled by pandemic caregiving responsibilities. In August, the labor force participation rate for those women actually dropped from the month prior, indicating yet another impact of the Delta variant.The current shortages are likely driven in part by what economists call mismatches. That means there may be a disconnect between the skills applicants have and the jobs that are available (or employers' hiring software are filtering out people who may have relevant, but not word-for-word necessary skills).Workers have also shown that they want more from work, leaving industries like leisure and hospitality en masse and quitting in record-breaking numbers for four months in a row.Read the original article on Business Insider.....»»

Category: worldSource: nytSep 22nd, 2021

Where Should I Retire?: We want to retire in the Carolinas or Virginias in a walkable town neither too large nor too small — where should we go?

A local theater or museum would be nice......»»

Category: topSource: marketwatchSep 22nd, 2021

The Ratings Game: Dave & Buster’s shares jump as new CEO signals move from defense to offense

Dave & Buster's shares rose more than 6% in Wednesday trading after the company announced its CEO would retire next week.....»»

Category: topSource: marketwatchSep 22nd, 2021

5-step beginner"s guide to investing in index funds

Index funds can help investors diversify their portfolio and lower their risk and is recommended by Warren Buffett. Learn how to invest in index funds. The key is to have a strategy that works for you, while also minimizing costs. Alyssa Powell/Insider Table of Contents: Masthead Sticky Index funds are a type of investment vehicle that strive to match the returns of a particular market index. Investing in index funds can help investors diversify their portfolio and be a low-cost way to build wealth. There are many different indexes to choose from that reach a wide variety of sectors and markets. Visit Insider's Investing Reference library for more stories. Index funds are recommended by billionaire Warren Buffett and are often touted as one of the most popular ways to reach FIRE (Financial Independence, Retire Early). Index funds are a type of investment vehicle such as a mutual fund or exchange-traded fund (ETF) that works to achieve similar results as those on specific indexes (hence, the name) such as the S&P 500.If you want to follow suit, here's how to invest in index funds. Step 1: Review your finances and goals Before investing, it's important to get clear on your personal situation and life goals. When do you want to retire and how far away are you from that milestone? And what does your risk tolerance and budget look like? Understanding all of this will help you understand the role index funds will play in your life and how to invest in them. Knowing how much to invest requires you to take inventory of just how much money you can afford to invest. Review your finances and answer these questions to help you assess how much you can afford to invest: What is your current after-tax income - in other words, your take-home pay? What are your current expenses? How much debt do you have and what are your monthly payments?What is your net worth? (This is your assets minus liabilities.)Answering these questions will give you a big picture view of your finances and give you insight into how much you can invest. Knowing your goals will help give your money a job and keep you motivated. It's important to note that risk is part of investing and can't be completely avoided. But there are ways to invest within your comfort levels, by first identifying your risk tolerance. Risk tolerance refers to your comfort level and how much you're willing to lose with your investments. You can take this risk tolerance quiz from Rutgers to see where you're at. Step 2: Choose an index Index funds are a class of ETFs or mutual funds that are designed to emulate the performance of a particular market index. "Index funds generally benefit an investor by providing diversification and relatively low fees compared to actively managed funds. Index funds are designed to track and follow a broad sector such as large caps, emerging markets, broad indexes like the S&P 500, or it can even be as specific as tracking large technology companies, for instance," explains Julian Schubach, an independent investment advisor and vice president of wealth management at ODI Financial. There are many different types of indexes, all of which serve different purposes. Because of the nature of index funds, they are inherently diversified. For example, the S&P 500 (which refers to Standard and Poor's 500) is just one of many major indexes which tracks the top 500 publicly traded companies. Some other major indexes include:Nasdaq-100 Index, which tracks the top 100 securities traded on The Nasdaq Stock MarketDow Jones Industrial Average (DJIA), which is an index that contains 30 blue chip stocks from various US companiesNYSE Composite Exchange, which tracks price fluctuations among stocks listed on the New York Stock ExchangeWilshire 5000 Total Market Index, which tracks the performance of the entire stock market with U.S.-based securitiesRussell 2000 Index, which tracks the performance of the 2,000 smallest publicly-traded companies in the USWhen thinking about what index to invest in, consider the following:Type of industry. Every dollar you spend or invest can be used as a vote to support something based on your values. For example, if you want to support the environment, you might focus on clean-energy index funds. If you're interested in tech or even supporting women-led companies, there are index funds for that. Risk tolerance. You can review past performance and assess your risk tolerance before choosing a specific index - although, as noted above, index funds can be considered less risky as they're diversified. For example, large cap indexes may have higher levels of risk, and if you want lower levels of risk, you can look at specific bond indexes. Opportunities for growth. Are there up-and-coming investment sectors where you might want to put your money? Funds that trade based on a specific location. For example, index funds that trade on the foreign exchange. The company size and market capitalization. For example, small cap, mid cap, and large cap all refer to the size of a company as well as the company's market capitalization. Types of assets the index funds track. The index fund can track certain commodities, stocks, or bonds. Taking all of this into consideration can help you identify which index can best match your goals. Quick tip: You can review other indexes and get additional information from the Federal Reserve Bank of St. Louis.Step 3: Decide which index funds to invest in Now it's time to decide which index funds you want to invest in. "Each fund and fund company may have different fees and portfolio construction, though, so it is important to research the differences between each offering within a broad index," explains Schubach. "A good way to start is to research the assets under management (AUM) of a given index fund, the fee structure, the ease of trading and access to the fund, and the background of the managers in charge of the given fund."Index funds at different companies can have similar goals but have different short- and long-term costs to consider. Review any opening account minimums or investment minimums in a certain index fund. For example, the popular Vanguard Total Stock Market Index Fund Admiral Shares (VTSAX) has an investment minimum of $3,000. Two other major costs to consider when investing in index funds are the tax-cost ratio, which refers to the amount of taxes you pay based on distributions compared to your returns, as well as the expense ratio, which includes all fees related to managing the fund. These costs and related fees can take a chunk of your wealth without you realizing it. You want to look for low expense ratios, typically below 1% as a benchmark. Step 4: Open a brokerage account and buy index fund shares If you want to learn how to invest in index funds, you'll want to choose an investing strategy and go from there. For example, do you want to DIY it or have professional help? Your answer will determine what type of investment account you'll need to purchase index fund shares. "Investors first must decide if they want to pick the index funds themselves and manage the allocations directly. If the investor feels this is the best route for them, they can establish an investment account at any of the numerous brokerage platforms such as Fidelity, TD Ameritrade, Charles Schwab, or even app-based platforms such as Robinhood," notes Schubach. "In this scenario, the investor would research the universe of index funds available and purchase the funds they'd like to own."You can do this by: Opening an online brokerage account. You could open an account with brokerages such as Fidelity or Vanguard to manually invest in funds yourself. Using a robo-advisor. You could also use a robo-advisor such as Betterment and Wealthfront which do much of the heavy lifting for you, by investing and rebalancing automatically."For those who wish to invest in index funds, but prefer some help, they can work with a financial advisor who can help guide them to the funds which best match their risk tolerance, and they would subsequently manage those funds for the investor," says Schubach.In this scenario, you can work with an investment professional who can help guide you through the process. This option may be more costly. Regardless of your investment options, here are some things you want to keep in mind when choosing a brokerage.What type of fund selection do they offer?How convenient is it to use the platform? Do they have a mobile app and is the user experience good? How much does it cost to trade? You can review the expense ratios in the prospectus and see if there are commission-free trading options. The key is to have a strategy that works for you, while also minimizing costs.Quick tip: If you have an employer-sponsored retirement plan like a 401(k), you may also be able to invest in index funds through there as well.Step 5: Continue to manage your investments Once you've started investing in index funds you want to do two things:1. Continue to invest regularly. This may mean setting up automatic monthly contributions or setting a schedule when you add more money to your portfolio. 2. Check in regularly with your investments. Consider checking in on your investments at least once a year. You can also consider checking in quarterly. Many index funds rebalance on their own, but it's a good idea to check that your funds are still in alignment with your portfolio's goals. The financial takeawayInvesting in index funds can be a great way to diversify your portfolio without taking on so much risk. It's also a way to tap various markets across different sectors and support certain industries with your investments. To get started, follow these steps to invest in index funds and be aware of your short- and long-term goals while keeping an eye on total costs.What's the difference between ETFs and index funds?Index funds vs. mutual funds: What's the difference?Understanding what financial advisors do and how they help clients better manage their moneyWhat is a broker? What to know about the intermediary that helps investors buy stocksRead the original article on Business Insider.....»»

Category: topSource: businessinsiderSep 22nd, 2021

Boomers are only making the 2021 housing crisis worse

Boomers are staying put in their houses as they age. That could be a big problem for other generations who want to build wealth through real estate. Baby boomers are staying put. Matt Henry Gunther/Getty Images Boomers have more real-estate wealth than any other generation, according to a NYT analysis of Fed data. Unlike previous generations, many of them aren't listing their houses for sale as they get older. It's exacerbating a historic housing shortage that's made it difficult for millennials to buy homes. See more stories on Insider's business page. Baby boomers hold more real-estate wealth than any other generation.The Silent Generation held that distinction until 2001, according to Michael Kolomatsky's analysis of Federal Reserve Data for The New York Times. As was typical of older generations, many had begun selling their homes to move in with their families or into assisted-living facilities or nursing homes, leaving boomers to take over as the biggest wealth holders in real estate.But boomers are now breaking tradition. They've surpassed the Silent Generation, per the Times' data analysis, holding the most real estate wealth of any generation for the past 20 years. While this peaked in 2011 at about 49%, boomers still hold 44% of real estate wealth in 2021, compared to 31% of Gen Xers, the next richest generation. By this token, Gen Xers should have held the most real estate wealth as of 2017, but they're still far behind.It's a sign that boomers are "aging in place," Kolomatsky writes, a growing concept that the pandemic has exacerbated. It's partly because some boomers are cautious of nursing homes in a Covid era, he added.But it's also because people are wary of putting their houses up for sale. Gay Cororaton, the director of housing and commercial research for the National Association of Realtors (NAR), previously told Insider that some owners haven't been listing their homes as a pandemic safety precaution. Others are wary of putting them on the market for fear of being unable to find an affordable replacement to buy, she said.Rather than engaging with a scorching real-estate market, many boomers are investing in remodeling instead. With the value of homes going up nationwide, they've became more willing to spend on remodeling than past generations, fueling a home improvement boom.Their willingness to stay put is also worsening the housing crisis of 2021, fueled by a rush for homeownership in a remote work era. A sudden crunch in the supply of lumber, combined with chronic underbuilding since the Great Recession, has coalesced into a historic housing shortage. If boomers don't move out of their homes to retire in line with their predecessors, the supply will just worsen.Read more: Millennials are getting screwed again by their 2nd housing crisis in 12 yearsHousing prices have reached record highs, sparking cutthroat competition and heated bidding wars rife with all-cash offers and higher down payments. While this has pushed many aspiring homeowners away from the housing hunt, it's been especially bad for millennials, many of whom are looking to buy a home for the first time.Housing was largely an out-of-reach dream for millennials for years. Soaring living costs, student debt, and the fallout of the Great Recession made saving for a down payment difficult. While some were able to catch up on savings and snag a home during the pandemic, largely driving 2020's housing boom, as shown by the National Association of Realtors' recent Generational Trends Report. But that has curdled into a logjam in 2021. Millennials have found themselves facing their second housing crisis in a dozen years. "Now that they have economically recovered and are looking to buy a home for the first time, we're faced with this housing shortage," Daryl Fairweather, chief economist at Redfin, previously told Insider. "They're already boxed out of the housing market."Boomers aren't helping matters. The longer they hold onto their houses, the harder it will be for other generations to build wealth through real estate.Read the original article on Business Insider.....»»

Category: topSource: businessinsiderSep 22nd, 2021

Air Force Secretary Says His Priorities Are "China, China, And China"

Air Force Secretary Says His Priorities Are "China, China, And China" Authored by Dave DeCamp via, On Monday, President Biden’s new Air Force Secretary Frank Kendall made it crystal clear that China is his main focus during a speech at the Air Force Association’s Air, Space and Cyber conference. According to an Air Force press release, Kendall mentioned China 27 times in his remarks compared to a single mention of Russia. "So what are my intentions now that I have this job? At a breakfast on Capitol Hill shortly after I was sworn in, I was asked by Sen. Jon Tester what my priorities were. My answer was that I had three: China, China, and China," Kendall said. Frank Kendall III, US Air Force image Kendall, who assumed office on August 28th, said China is a threat to Washington’s global military dominance. "While America is still the dominant military power on the planet today, we are being more effectively challenged militarily than at any other time in our history," he said. To counter China, Kendall wants to focus on military modernization. He’s previously said he wants the US to develop weapons that would "scare" China. As part of his modernization plan, Kendall wants to retire older military aircraft and focus on developing new ones. "We will not succeed against a well-resourced and strategic competitor if we insist on keeping every legacy system we have," he said. "Our one team cannot win its one fight to deter China or Russia without the resources we need and a willingness to balance risk today to avoid much greater risk in the future." Kendall served in the Obama administration from 2011 to 2017 as the Under Secretary of Defense for Acquisition and Sustainment. Before that, he worked as the Vice President of Engineering for Raytheon, a company with a keen interest in hyping up the threat of China to justify more military spending. Kendall said since 2010, he’s been "pounding the drum about how serious a threat" China is to Washington’s ability to "project power" in Asia. Kendall’s view is not unique among military leaders in Washington. During Senate confirmation hearings in July, Navy Secretary Carlos Del Toro vowed to focus "exclusively" on the so-called "China threat." The Pentagon has also identified China as the top "pacing threat" facing the US military. Tyler Durden Wed, 09/22/2021 - 00:05.....»»

Category: blogSource: zerohedgeSep 22nd, 2021

Congress could cost Americans $15 trillion and 6 million jobs if it doesn"t raise the debt ceiling, Moody"s says

If the government defaults on its debt, the resulting downturn would be similar to the 2008 financial crisis, Mark Zandi of Moody's said. House Speaker Nancy Pelosi/Senate Minority Leader Mitch McConnell J. Scott Applewhite/AP Photo ; J. Scott Applewhite/AP Photo Failing to lift the debt ceiling would spark a recession similar to the financial crisis, Moody's said Tuesday. Nearly six million jobs would be erased and tanking stocks would cost Americans $15 trillion. The fallout would be "catastrophic," especially since the US is still recovering from COVID, Moody's added. See more stories on Insider's business page. Failure to raise the limit on how much the US government can borrow could spark one of the biggest stock-market crashes in history and erase trillions of dollars in household wealth, Moody's Analytics said in a Tuesday report. Congress has mere weeks to avoid that, and progress so far has been slow.Democrats are pushing forward with their own bill to suspend the debt limit, allowing the government to keep borrowing cash and paying off its bills. But GOP lawmakers have made it clear they won't support such legislation. And Democrats' slim majority in the Senate means any dissent within their ranks could kill the effort.Treasury Secretary Janet Yellen has warned that the government will hit the ceiling in mid-October. If the limit isn't lifted by then, the country faces "cataclysmic" economic fallout, economists led by Mark Zandi said. The team's simulations show a default on US debt powering a downturn similar to that seen during the Great Recession. Gross domestic product would slide by nearly 4%. The country would lose almost 6 million jobs. The unemployment rate would surge to 9% from 5.2%.And stock prices would crash by one-third during the worst of the selloff. The market nosedive would swiftly wipe out $15 trillion in household wealth."If lawmakers are unable to increase or suspend the debt limit ... the resulting chaos in global financial markets will be difficult to bear," the Moody's economists said, adding the US and global economies "still have a long way to go to recover" from the COVID recession.A recession of Congress' own makingThe Tuesday report sheds more light on just how dangerous a government default would be. It also joins several warnings already made by the Biden administration and other economists.The White House told state and local governments on Friday that failure to lift the debt ceiling would force stark cuts to federal support. Programs ranging from free school lunches to Medicaid would face a funding freeze. Disaster relief from FEMA would be dramatically scaled back. And the country would likely slide into recession as governments are forced to balance their budgets and slash jobs.David Kelly, chief global strategist at JPMorgan, used more colorful terms to describe the fallout. Congress's last-minute negotiations over the debt ceiling are similar to kids playing with a "box of dynamite," he said in a September 13 note. Each generation of lawmakers has been "just a little more reckless and irresponsible than the last," and it may be time to retire the debt limit entirely before it forces a government default, he added.To be sure, Democrats and Republicans are both confident the government will avoid a debt-ceiling downturn. After all, this debate has happened 57 times in the last 50 years, and solutions were reached each of those times. Lawmakers are just split on how to solve the problem today.The easiest solution requires 10 Senate Republicans to join Democrats in voting to lift or suspend the limit. Yet Senate Minority Leader Mitch McConnell has been adamant that GOP members won't support such action.Democrats, however, have slammed Republicans for failing to undertake the historically bipartisan action. The GOP is pursuing a "dine-and-dash of historic proportions," as they racked up trillions of dollars in debt with their 2017 tax cuts and last year's stimulus spending, Senate Majority Leader Chuck Schumer tweeted Tuesday.Democrats will need all 50 Senate members to back the House's last-ditch fix if they're to sidestep Republicans and go it alone. With members already disagreeing over other legislation, the "political brinkmanship ... is thus painful to watch," Moody's said.Read the original article on Business Insider.....»»

Category: topSource: businessinsiderSep 21st, 2021

Jim Rogers Warns The "Worst Bear Market Of Our Lifetime" Is Fast Approaching

Jim Rogers Warns The "Worst Bear Market Of Our Lifetime" Is Fast Approaching Via, Legendary investor Jim Rogers has seen more market ups and downs than most people alive today. And he has successfully made money - a LOT of money - in the process. But given today’s macro-environment, he’s more concerned about the market’s future prospects than he’s ever been before. In fact, he confidently predicts we will experience a massive economic and financial correction that will result in the biggest bear market of our lifetime. Too much debt. Rising inflation. Currency debasement. Malinvestment. Central bank intervention. Geopolitical stress. The current macroeconomic environment has it all. Rogers predicts collapse will begin in the weaker countries/companies first, and then cascade it way towards the US, eventually plunging the entire system into deep recession, if not a downright Depression. Here in Part 1 of our interview with Jim, he explains how bad he thinks things will get and why. Using his international viewpoint, he also unpacks China’s future prospects given its current challenges (including Evergrande) and the potential for greater competition from an opening of commerce between South and North Korea. And in Part 2,  Jim offers his advice to prudent investors looking to survive the coming bear market he predicts, and provides his outlook on a number of different commodities, including oil, uranium, farmland and precious metals. “I caution all of you, it’s been 11 years since we’ve had a serious bear market... and I would suggest to you that maybe next time when we have a serious bear market it’s going to be the worst in my lifetime,” Rogers previously told an international forum hosted by Russia. Reflecting on the piling-on of more and more debt by policymakers to paper over every crack in any economy or market, Rogers previously noted that "eventually, the market is going to say: ‘We don't want this, we don’t want to play this game anymore, and we don’t want your garbage paper anymore’." And when that happens, Rogers warns that central banks will print even more and buy even more assets. “And that’s when we will have very serious problems... We all are going to pay a horrible price someday but in the meantime it’s a lot of fun for a lot of people.” *  *  * Global investor Jim Rogers co-founded the Quantum Fund, a global-investment partnership. During the next 10 years, the portfolio gained 4200%, while the S&P rose less than 50%. Rogers then decided to retire – at age 37 – and has been sharing his wisdom with investors ever since, as well as having some pretty amazing life adventures. Tyler Durden Tue, 09/21/2021 - 15:39.....»»

Category: blogSource: zerohedgeSep 21st, 2021

The Emmys weren’t wrong. Many dream of having a boss like Ted Lasso.

The Apple TV Plus comedy series "Ted Lasso" depicts the manager many people wish they had. Often employees quit — sometimes without another job — or retire early because they just can’t take the abuse from their boss......»»

Category: topSource: washpostSep 21st, 2021

The Emmys weren’t wrong. Many dream of having a boss like Ted Lasso.

The Apple TV Plus comedy series "Ted Lasso" depicts the manager many people wish they had. Often employees quit — sometimes without another job — or retire early because they just can’t take the abuse from their boss......»»

Category: topSource: washpostSep 21st, 2021

Dave & Buster"s CEO Jenkins to retire next week

Dave & Buster's Entertainment Inc. said that Chief Executive Brian A. Jenkins will retire as top executive and member of the board of directors after Sept. 30. Jenkins will then become a senior adviser to the CEO until Nov. 30. The entertainment company's board has appointed Kevin M. Sheehan, the board's chair, as interim CEO until a permanent successor is named, the company said. Shares of Dave & Buster's dropped more than 4% in the extended session after ending the regular trading day down 1.6%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit for more information on this news......»»

Category: topSource: marketwatchSep 21st, 2021

AutoNation CEO set to retire after 22 years

AutoNation CEO Mike Jackson will retire after 22 years, the company announced on Tuesday......»»

Category: topSource: foxnewsSep 21st, 2021

Kontoor Brands names replacement for retiring chief human resources officer Scott Schoener

After three decades of service to the Lee and Wrangler brands, Scott Schoener will retire from Kontoor Brands in December. He will be replaced as chief human resources officer by Tammy Heller......»»

Category: topSource: bizjournalsSep 21st, 2021

CBJ Morning Buzz: Where Michael Jordan is looking for next big win in business; North Carolina"s top spots to retire

A quick look at what you need to know to start your day, from top news headlines to upcoming events......»»

Category: topSource: bizjournalsSep 21st, 2021

AutoNation CEO Mike Jackson to retire after 22 years in the role

AutoNation Inc. said Tuesday that long-time Chief Executive Mike Jackson will retire, effective Nov. 1. The stock was indicated up 0.7% in premarket trading. The auto retailer said Mike Manley will join the company and become CEO on Nov. 1. Manley was most recently CEO of Fiat Chrysler Automobiles from July 2018 to January 2021, and currently serves as Head of Americas at Holland-based automobile company Stellantis N.V. , which was formed by the merger between Fiat Chrysler and PSA Group. "It has been a remarkable honor to serve as CEO for the past 22 years," Jackson said. "I have every confidence Mike Manley will lead AutoNation to an even brighter future." AutoNation's stock has rallied 70.3% year to date, while the S&P 500 has gained 16.0%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit for more information on this news......»»

Category: topSource: marketwatchSep 21st, 2021

: AutoNation CEO Mike Jackson to retire, effective Nov. 1

This is a Real-time headline. These are breaking news, delivered the minute it happens, delivered ticker-tape style. Visit or the quote page for more information about this breaking news......»»

Category: topSource: marketwatchSep 21st, 2021

NASA plans to spend up to $400 million on commercial space stations. It"s evaluating about a dozen proposals from companies.

NASA expects to retire the International Space Station by the end of the decade. The agency is turning to private companies to build new alternatives. The International Space Station, photographed by Expedition 56 crew members from a Soyuz spacecraft after undocking, October 4, 2018. NASA/Roscosmos NASA plans to award up to $400 million to companies that want to build private space stations. From about a dozen proposals, NASA aims to pick two to four by the end of the year, CNBC reported. NASA hopes to be one of many customers on these private stations after the International Space Station retires. See more stories on Insider's business page. NASA is preparing to award up to $400 million to companies that want to build their own space stations.The agency has relied on the International Space Station (ISS) for 20 years, but it won't last forever. NASA expects to retire the ISS by the end of the decade, eventually emptying it and pushing it into Earth's atmosphere to burn up.NASA doesn't want to build a new space station itself. Instead, it's turning to private companies, offering them contracts to build their own stations through a program called Commercial Low-Earth Orbit Destinations.That program has "received roughly about a dozen proposals," Phil McAlister, NASA's commercial-spaceflight director, told CNBC reporter Michael Sheetz. NASA plans to pick two to four of those proposals by the end of the year and distribute up to $400 million in contracts between the winners, according to CNBC. An illustration shows an Axiom Space module orbiting Earth. Axiom Space "We got an incredibly strong response from industry to our announcement for proposals for commercial, free fliers that go directly to orbit," McAlister told CNBC. "I can't remember the last time we got that many proposals [in response] to a [human spaceflight] contract announcement."Operating the ISS currently costs NASA about $4 billion per year. Buying facilities on larger stations operated by private companies could save the agency more than $1 billion per year, McAlister said.NASA declined to name the companies that submitted proposals, citing a "blackout" period while it evaluates them. But more than 50 entities expressed interest when the program was announced, including SpaceX, Blue Origin, Boeing, and Airbus, according to Sheetz. McAlister said the current proposals come from a mix of legacy spaceflight companies and startups."We are making tangible progress on developing commercial space destinations where people can work, play, and live," he told CNBC.NASA used a similar contest to encourage commercial spaceships The Boeing CST-100 Starliner spacecraft is lowered onto an Atlas V rocket in Cape Canaveral, Florida, on November 21, 2019. Cory Huston/NASA NASA took a similar approach when it sought a replacement for the Space Shuttles: It offered funding to companies to develop and build new spaceships. The agency's Commercial Crew Program chose SpaceX and Boeing out of a group of proposals and funded each to develop new human-rated spaceships. Last year, NASA estimated that program would save it $20 billion to $30 billion.SpaceX's Crew Dragon ship is the product of that program, and it's now regularly flying astronauts to and from the ISS for NASA. It also just flew its first tourists on a mission that did not involve NASA beyond the use of its launchpad in Cape Canaveral, Florida. SpaceX has another private mission lined up in January, in which it's set to fly four people to the ISS for the company Axiom Space. The Crew Dragon spaceship Endeavour approaches the International Space Station with astronauts on board, April 24, 2021. NASA Private companies have also developed the vehicles that carry cargo to the ISS for NASA. As it does with all of these spaceships, NASA hopes to be one of many customers paying for space on future space stations. That's partially why its contracts won't fully fund their development."Going forward, we do not anticipate paying for the entire commercial destinations. We don't think that's appropriate, as the companies are going to own the intellectual property and they're going to be able to sell that capability to non-NASA customers," McAlister told CNBC.There are already new space stations in the making. China launched the first piece of its own space station earlier this year, and just completed its first three-month astronaut mission there last week. NASA, meanwhile, has already awarded Axiom Space $140 million to fly modules up to the ISS that will eventually detach from it to become their own space station. Axiom aims to launch its first module in 2024.Read the original article on Business Insider.....»»

Category: worldSource: nytSep 21st, 2021