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Social Security benefits will get small cost of living bump - Oct. 9, 2012 - 0 views

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social security benefits will cost living bump

shared by bparksj28 on 09 Oct 12 - No Cached
  • The Labor Department will release its September inflation reading on Oct. 16, which is the final of 12 readings used to calculate the cost of living adjustment made annually to benefits. The Social Security Administration will announce the 2013 benefit increase at that time. Benefits increased by 3.6% in 2012, when inflation was higher.
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Federal Reserve official wants low interest rates until unemployment falls to 6.5% - No... - 0 views

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shared by bparksj28 on 28 Nov 12 - No Cached
  • Charles Evans, president of the Chicago Fed, wants the central bank to keep the federal funds rate near zero until unemployment falls to 6.5% -- a jobless rate not seen since 2008.
  • in January he will rotate into a voting role on the Fed's policymaking committee. For about a year, he has been urging his colleagues to publish clear economic targets that would guide the central bank's policies.
  • . He wants to see the unemployment rate fall to at least 6.5% and inflation not exceed 2.5% a year
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  • hope behind the policy is that numerical targets will lift some of the mystery surrounding the Fed's decisions.
  • As economic data is released, the public can base their expectations for Fed policy on a clearer picture of the central bank's goals.
  • "I support this approach because it would enable the public to immediately adjust its expectations concerning the timing of liftoff in response to new information affecting the economic outloo
  • The Fed has kept interest rates near zero since late 2008 in an effort to stimulate the economy. While the unemployment rate has since fallen slightly to 7.9%, the Fed is still unsatisfied with that level and has been pursuing additional alternative policies to boost the economy further.
  • The Fed's policymaking committee is next scheduled to meet Dec. 11-12.
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8 Truths About Retirement - Business Insider - 0 views

www.businessinsider.com/ruths-about-retirement-2012-10

social secutiy statistics

shared by bparksj28 on 31 Oct 12 - No Cached
  • irement planning.
  • Retirement Week,” an educational campaign to raise public awareness about the importance of long-term re
  • National Save fo
  • ...13 more annotations...
  • encourages Americans to utilize retirement savings and investment plan strategie
  • The week also encourages individuals to reflect on their current financial situations and their potential for a secure retirement in the future.
  • 2. Half of Americans aren’t saving for retirement
  • 49 percent of Americans say they aren’t contributing to any retirement plan. Those least likely to save for retirement: individuals between ages 18 and 34.
  • planning a home remodel and planning a vacation ranked higher on the list of priorities within the past year than planning for retirement (which ranked third).
  • respondents
  • Apparently 80 is the new 65 for many middle-class Americans when it comes to retirement. One-third of survey
  • The majority of middle-class Americans aren’t confident in the stock marke
  • When survey respondents were asked what they’d do if given $5,000 to invest for retirement, only 24 percent said they’d invest in stocks – compared to 40 percent who would choose a CD or savings account and another 22 percent who would invest in gold or precious metals.
  • Women are less engaged in retirement planni
  • More than 20 percent of Americans have borrowed against their 401(k), the highest percentage since 1996, according to the Employee Benefit Research Institute. The average loan size is 14 percent of the remaining account balance.
  • About 95 percent of companies are back to matching 401(k) contributions, but only 30 percent of employees are taking advantage of this, according to a survey by the nonprofit Plan Sponsor Council of America.
  • Forty percent of Americans fear lack of retirement funds
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Investments eyed as India opens markets - Nov. 19, 2012 - 0 views

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opens india markets

shared by bparksj28 on 19 Nov 12 - No Cached
  • bparksj28 on 19 Nov 12
     
    India reforms
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Federal Reserve details new round of stress tests - Nov. 16, 2012 - 0 views

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shared by bparksj28 on 16 Nov 12 - No Cached
  • The Federal Reserve, preparing to embark on its latest round of so-called stress tests, released the details Friday of three economic scenarios it will use to judge the health of the U.S.'s largest lenders.
  • 5% decline in gross domestic product, an unemployment rate of 12% and a volatile stock market which loses half its value.
  • The stress tests are mandated by Dodd-Frank, the financial reform law written in the wake of the 2008 financial crisis that brought down Bear Stearns and Lehman Brothers.
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  • Last year, the Fed's tests showed a majority of the nation's largest banks would be able to weather another deep recession.
  • Ally Financial, Citigroup (C, Fortune 500) and SunTrust (STI, Fortune 500) -- would likely need new capital from either investors or the government in the Fed's adverse economic scenario
  • bparksj28 on 16 Nov 12
     
    Dodd-Frank Act - stress test 2012
bparksj28

Factory fire raises safety questions for big box stores like Wal-Mart, Sears - Nov. 30,... - 0 views

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shared by bparksj28 on 30 Nov 12 - No Cached
  • Ten people were injured after jumping from windows to escape the inferno at the 10-story building. Eye witnesses say that managers had locked the windows and gates to the buildings, which had no fire escapes, effectively trapping the workers in.
  • A total of 112 people were killed and at least 200 more were injured in a fire Saturday at the Tazreen Fashions Factory, located near Bangladesh's capital city Dhaka. Two days later, another apparel factory near Dhaka caught fire.
  • Photos of items sold at Wal-Mart
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  • taken in the Tazreen Fashions factory surfaced in the days following the fire. The retailer responded by saying that the factory was no longer authorized to produce merchandise for it.
  • "A supplier subcontracted work to this factory without authorization and in direct violation of our policies. Today, we have terminated the relationship with that supplier," Wal-Mart said.
  • Workers rights experts, however, claim that it's unlikely that retailers wouldn't know where their stuff is produced, as a matter of cost and production control.
  • "In order to be profitable, you have to control the supply chain, monitor quality, prices and the speed of delivery,
  • "It's strange that a company would say they had no idea who was making stuff for them."
  • The audits, completed by what it calls accredited or internationally recognized auditing firms, are carried out every six to 24 months. But the reports are not published online. Nor are they shown to factory workers, according to Nova. "There's no transparency. They never publish their findings as to whether or not there's a violation, so there's not much scrutiny about the audits," he said.
  • n order to keep production prices low, Nova said that companies rely on cheap labor, which often goes hand-in-hand with low wages, poor working conditions and safety concerns.
  • "It is such a poor country and so desperate for jobs that they ignore the most minimal labor rights standard," he said. "It's as if everything has to give way just to maintain these garment jobs. There's a fear that the labels will flee and go to another country.
  • Bangladesh's ready-made garments make up 80% of the country's $24 billion in annual exports, and the country has about 4,500 garment factories that make clothes for large global stores including
  • bparksj28 on 30 Nov 12
     
    Bangladesh Factory Fire
bparksj28

Corporate profits hit record as wages get squeezed - Dec. 3, 2012 - 0 views

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profits hit record wages dec

shared by bparksj28 on 03 Dec 12 - No Cached
  • bparksj28 on 03 Dec 12
     
    Profits and Wages
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