Fact-Checking a Mogul's Claims About Avocado Toast, Millennials and Home Buying
According to the Food Institute, which analyzed Bureau of Labor Statistics expenditure data from 2015, people from 25 to 34 spent, on average, $3,097 on eating out. Data for this age group through the decades was not readily available. But the bureau’s report indicated that this group spent $305 more than people from 55 to 64 — a group that encompasses some baby boomers — and $89 more than the overall average, including spending among people ages 35 to 54. The truth is, even if millennials assu..>> view originalIf You Invested in Amazon at Its IPO, You Would Be a Millionaire Today
Investment titan Warren Buffett has good reason to regret not buying Amazon when it first went public — as do most investors.Had the average Joe decided to save $5,000 and spend it on Amazon's stock when it first hit the public markets 20 years ago, they be worth at least $2.4 million today.While those returns would have made the average Joe quite happy, $2.4 million would've hardly been noticeable in Buffett's now $72 billion net worth. Moreover, the investor has typically made much larger inve..>> view originalFormer SolarCity CEO Lyndon Rive will leave Tesla
SolarCity founder Lyndon Rive, who steered the dramatic growth of the biggest U.S. residential solar company before driving its sale to Tesla , is leaving the electric vehicle maker in June, he said on Monday. In an interview, the former SolarCity chief executive said he wanted to start a new company next year and spend more time with his family. Rive had been serving as head of sales and services for Tesla's energy division since last year. Rive's responsibilities will be distributed among Tes..>> view originalCyberattack could cost billions, but so far US has been mostly spared
The online extortionists behind the global WannaCry Internet attack had raked in less than $100,000 by late Monday. But the massive digital assault they launched late last week could end up costing the global economy billions.So far, little of the damage has occurred in the United States, as cybersecurity experts said most computer networks in this country that run Windows operating systems were not vulnerable to the security flaw that made the ransomware demand so effective. Moreover, the disc..>> view originalReport: Ford to cut 10% of global workforce
This Tuesday, Jan. 17, 2017, photo shows a Ford sign at an auto dealership in Hialeah, Fla.(Photo: Alan Diaz, AP)Ford is to announce a plan to cut 10% of its global workforce later this week, the Wall Street Journal reported late Monday.The Dearborn automaker has been under pressure both from its board of directors and from shareholders in recent days to show that its strategic plan is working as U.S. industry sales begin to decline for the first time in seven years.Ford's profits sank 35% durin..>> view originalKuwait Joins Saudis, Russia to Seek Oil-Cuts Extension Into 2018
Kuwait joined Saudi Arabia and Russia in supporting an extension of oil-output cuts by OPEC and other global producers through the first quarter of 2018 to help trim global stockpiles.Extending the cuts at already agreed-upon volumes is needed to reach the goal of trimming global stockpiles to the five-year average, Kuwait’s Oil Minister Issam Almarzooq said in an emailed statement on Tuesday.“There are positive signals that have started to show, as April and May monthly reports are showing tha..>> view originalBill Gates told new grads to read this book. Now it's surging on Amazon.
Bill Gates (Andrew Harrer/Bloomberg News) Since stepping down as Microsoft's chief executive in 2000, Bill Gates has seen his reputation transform from that of a hard-nosed businessman intent on shutting out the competition — which produced comparisons to oil magnate John D. Rockefeller — to that of a wise, inspiring philanthropist seeking to solve some of the world's toughest social challenges. Now, Gates regularly dispenses the wisdom he's gained over the years in an effort to get people ..>> view originalPhiladelphia sues Wells Fargo for allegedly discriminating against minority borrowers
A 2016 photo of a Wells Fargo Bank branch in Woodbridge, Va. (Saul Loeb/AFP/Getty Images) The city of Philadelphia sued Wells Fargo on Monday for allegedly discriminating against minority home buyers. The complaint filed in a federal court in Pennsylvania alleges that Wells Fargo violated the Fair Housing Act of 1968 by “steering” minority borrowers into mortgages that were more expensive and riskier than those offered to white borrowers, according to court documents. The lawsuit says that ..>> view originalUnited flight attendant mistakenly posts cockpit security codes
A United Airlines flight attendant mistakenly posted information on a public website that included access codes to the cockpit door, the airline confirmed. The beleaguered airlines emailed a “safety alert” to its employees that its flight deck access security procedures “may have been compromised.” “Some cockpit door access information may have been made public,” United said in a statement. “The risk of a breach of the flight deck door is strongly mitigated by carefully following the flight dec..>> view originalMorgan Stanley Is Predicting Sears Will Die Soon, Making This Rival a Huge Winner
Now more than ever, there is serious doubt that Sears Holdings Corp. (SHLD) will still be operating in 2018. After Sears CEO Eddie Lampert went on yet another blog-post rant on Monday, this time aimed at one of the dying retailer's vendors, the company ...>> view original
Sunday, September 24, 2017
Fact-Checking a Mogul's Claims About Avocado Toast, Millennials and Home Buying and other top stories.
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