Hold the Brownies! Bill Could Limit Bake Sales

The Struggle of Older Workers
From a lot of the talk about raising the Retirement Age, you’d think firms were lining up to offer jobs to 61 year-olds and Labor Force participation fell off a cliff at Age 65. The reality is quite different. As Motoko Rich lays out in an excellent piece, the nexus of Recession and aging makes things extraordinarily difficult for unemployed fifty-somethings : Patricia Reid is not in her 70s, an Age when many Americans continue to work. She is not even in her 60s. She is just 57....

Unemployed, Over 50, Fear Never Working Again
Unemployed, Over 50, Fear Never Working Again New York Times : Patricia Reid is not in her 70s, an age when many Americans continue to work. She is not even in her 60s. She is just 57. But four years after losing her job she cannot, in her darkest moments, escape a nagging thought: she may never work again. College educated, with a degree in Business Administration, she is experienced, having worked for two decades as an internal auditor and analyst at Boeing before losing that job. But that...

Unemployed Staying Unemployed, Locked Out of Work Force
The Unemployment Rate has remained mostly stagnant over the past several months, despite Job gains below the Rate of the expanding population. The employment/population ratio shows far more people Out of work than the topline Unemployment Rate. That’s because of a new phenomenon in our Labor Markets, where the loss of a Job means an increasingly likely scenario of dropping Out of the work Force permanently. A new paper from Arjun Jayadev and Mike Konczal of the Roosevelt Institute...

Older Workers: Fears of Never Working Again
What does this say about plans to increase the age at which Social Security recipients can retire with full benefits (as opposed to other solutions such as raising the income cap that are progressive rather than regressive)? This is a worry in normal times as well, but what will we do when there's a Recession and large numbers of the elderly but not yet retired cannot find jobs no matter how hard they try?: For the Unemployed Over 50, Fears of Never Working Again, NY Times :...

Over 50 and Unemployed
When I read this article in the New York Times about the Problems of those who are over 50 and unemployed, several thoughts occurred to me. The first was that the article is misleading about the scope of the Problem, as you can see by examining this graph . The Rate of Unemployment as a percentage of those in the age cohort is actually significantly lower for those over fifty than it is, say, for those under 30. LIFO. However, I also noticed that the Unemployment Rate among those over 50...

Kepcher: In rough economy, multiple bosses can be a blessing
There was a time when temp work was nothing more than what College Students sought for their summer break. But the tight labor Market has pushed employers and Job-seekers to give new thought to temporary and freelance gigs. Employers like the idea, of course, because temporary and freelance workers typically get no benefits, making them less expensive. Job-seekers pursue the arrangement for several reasons: a quick paycheck, experience to list on a rsum and the ever-present possibility that...

The Class of New Unemployables
That's the underlying question in a New York Times story today about older, unemployed Americans who're finding it nearly impossible to break back into the Workforce. They're shipping out resumes and cover letters to no avail; some blame  age Discrimination , others rusty job skills. One academic called them the "class of new unemployables." As the Times ' Motoko Rich points out, 2.2 million of the 15 million unemployed Americans are over 55; half have been jobless for six...

Unemployment Rate (Age-Adjusted) Has Been Above 10 Percent For Past Year
The current Jobs crisis long ago surpassed all previous recessions in terms of Jobs lost, but the national Unemployment Rate has not risen higher than it did during the dive of the early 1980s, when Unemployment hovered above 10 percent for 10 months. Accounting for the aging of the Labor Force since then, however, reveals a modern-day Workforce weaker than the numbers suggest -- and an Unemployment Rate higher than at any point since the Great Depression, according to a new report by David...

Exempt Amounts Under the Earnings Test
The Retirement earnings test applies only to people below normal Retirement Age (NRA), which ranges from Age 65 to 67 depending on year of birth. Social Security withholds benefits if your earnings exceed a certain level, called a Retirement earnings test exempt amount, and if you are under your NRA. One of two different exempt amounts apply, depending on the year you attain your NRA. These exempt amounts generally increase annually with increases in the National average wage index .

A short-term goal may be a new car,
A short-term goal may be a new car, a vacation or a television. Copyright 2005 Debt Management Credit Counseling Corp. Here is a list of the average salaries for college graduates.Accounting - [...] So, instead of saving your money, graduates could be spending it on items they do not really need. Depending on what your entry-level job pays; it would be wise to spend accordingly with your available income. A long-term goal can be Retirement and traveling.Managing money as a young adult can...

Dodgers Manager Torre Announces Retirement
Guest host Robert Smith talks to Howard Bryant of ESPN.com and ESPN the Magazine about Joe Torre's announcement that he will retire as manager of the Los Angeles Dodgers at the end of the season.

Fidelity?s 401(K) Data Show Steady Savings Pattern By Majority
BOSTON – Fidelity Investments, the nation’s No. 1 provider of workplace Retirement Savings plans , today released its quarterly data  on the state of the 401(k) that show positive, steady Savings behavior by the majority of participants.  However, it also cited an increase in the use of loans and hardship withdrawals by participants.  “The majority of participants continue to make saving through their workplace plans a priority,” said James M. MacDonald,...

The American Dream
The American Dream.  I remember when those words and what they connote made me stand just a little taller, feel just a little bolder, speak just a little more assuredly.  To me, The American Dream (yes, with a capital "T" on "the") meant that anyone--even me--had a chance to succeed, to build a business, buy a home, save for a rainy day, plan for a decent Retirement, send kids to college, achieve whatever success one dreamed possible for oneself.  If that meant financial success,...

Schools can be a bit picky when 5,000 seek 100 slots
Teachers who formerly were content to serve as substitutes were looking for Full-Time Jobs. Older teachers were returning to the marketplace. And of course, there were recent graduates hoping to land their first Jobs. It resulted in record numbers of applicants for most districts. Wayne-Westland Community Schools had more than 2,000 applications for 40 teaching positions this fall, about double the usual number of applicants. Dearborn Public Schools had 1,000 applications for 11 positions,...

UK regulator to seek Lehman assets
The UKs Pensions Regulator has been given leave to seek up to 150m ($235m) from the assets of Lehman Brothers, which collapsed almost two years ago, to cover a shortfall in the failed banks Retirement scheme. The regulators determinations panel a legal body with powers to decide whether the Watchdog can use some of its most powerful weapons granted approval for the move last week. EDITORS CHOICE Bond strategy led to big win after Lehman

Hatton blames retirement for drug abuse
AP Former world champion boxer Ricky Hatton has blamed his struggle to cope with Retirement for his Binge Drinking and Drug use. Hatton was admitted to a rehabilitation clinic after the News of the World Tabloid published a video last weekend appearing to show him snorting Cocaine. Hatton's spokesman later confirmed the use of Drugs. "I am currently in the Priory (clinic) dealing with depression due to the fact I have not been able to cope with my Retirement from boxing," Hatton said in a video...

Harry Reid's Pay To Play? Helping Himself Get Re-Elected By Rewarding Contracts To Big Dem Donor Arcata Associates - UPDATED
Posted by Melissa Clouthier on Sep 20 2010 Filed under Featured , News & Opinion , Politics . You can follow any responses to this entry through the RSS 2.0 . You can leave a response or trackback to this entry It appears that Senate Majority Leader Harry Reid plans to reward Arcata Associates , a big Democratic Donor, a huge No-bid Contract on the heels of two separate $10,000 (maximum) donation to the Nevada Democrat party. Senator Harry Reid, along with his House cohort Nancy...

Is the U.S. Still the Land of Opportunity?
The Global Entrepreneurship and Development Index (GEDI) report by researchers at the Small Business Administration shows that the U.S. may be slipping in its ability to sustain productive entrepreneurship relative to other countries. Entrepreneurship plays a critical role in the formation of any economy; it is the critical agent in the productive creation and destruction cycle necessary for any dynamic economy. Public Policy creates an institutional environment that can encourage or...

Harley workers OK deal
With the future of Harley-Davidson Inc.'s Wisconsin factories at stake, union workers in the Milwaukee area and Tomahawk on Monday ratified a seven-year Labor contract that's likely to result in hundreds of Job Cuts the company says are needed to keep production in the State where it was born. "I am too young to retire and too old to start over," said Harley assembler Jill Huffman, summing up a pervasive feeling of uncertainty among many Harley employees who voted on the contract...

Plane from Chicago makes emergency landing in Montana
BILLINGS, Mont. -- A United Airlines flight headed from Chicago to Seattle with 188 people on board made an Emergency Landing in Montana today after having engine trouble. The Boeing 757 landed in Billings at 12:29 a.m. Central time after the right engine failed, according to Federal Aviation Administration spokesman Mike Fergus. United Airlines spokesman Mike Trevino disputed that the engine failed. He said the pilot decided to shut down the engine after making checks when an indicator light...

Atlas Air enters new contract with TNT Airways, financial terms not disclosed
PURCHASE, N.Y. — Atlas Air Worldwide Holdings Inc. said Monday its Atlas Air subsidiary will provide long-haul freight service for Belgium-based TNT Airways using Boeing 747-400 Aircraft. Financial terms were not disclosed. Atlas said the Aircraft began service for TNT last week and would be based at TNT's base in Liege, Belgium. TNT is a division of TNT N.V. Atlas shares rose $1.16, or 2.4 percent, to $49.40 in afternoon trading.

'Invade their countries, kill their leaders and convert them to Christianity'
If you are travelling to an event that bills itself as the world's first conservative Film Festival, it is prudent to do a little research in advance. The premise of the American Film Renaissance, held in Dallas recently, was that Hollywood is in the grip of a clique of anti-religious, gay-loving, gun-hating, foreigner-appeasing, Left-wing degenerates who wilfully and foolishly fail to represent mainstream American opinion. Cruising over the Atlantic on an American Airlines Boeing 777, en route...

Boeing Wins Bid to Build Vulture, the Solar Spyplane That Stays Aloft for Five Years
© Boeing SolarEagle Boeing's SolarEagle will fly continuously for five years under DARPA's Vulture II program Boeing's spyplane development wing won an $89 million contract this week to build the SolarEagle unmanned reconnaissance Aircraft , designed to fly continuously for five years at 65,000 feet. As the winner of DARPA's Vulture II program , the plane really only has to fly for one to three months by 2014, however. SolarEagle comes from Boeing's Phantom Works, the same design team...

Boeing gets $89M to build unmanned aircraft that can stay aloft for 5 years
12 mad science projects that could shake the world The SolarEagle is built under DARPA's Vulture program.  The idea is to build a single Aircraft that could support traditional intelligence, Surveillance, and reconnaissance functions over country-sized areas - while at the same time providing an unblinking eye over a critical target, monitoring that target night and day, day in and day out, month after month - providing unprecedented high-value intelligence. Vulture Aircraft will also be...

Women desert Wall Street
Chart of the day comes from Kyle Stock : This is very bad indeed: women are leaving the Financial-services industry even as men are joining it; and the trend is most pronounced among the youngest cohorts of the population, who will be running the industry in the future. The Losses are steepest for the youngest women, including those just out of college. The number of women entering finance-industry Jobs at age 20 to 24 fell 21.8% over the past decade. For Jobs across all industries, the...