Category Archives: Finance
Q: How do I figure out my margins?
A: For decades, maybe even centuries, business owners were taught to shoot for a profit margin of 10 percent. I don’t know where that number came from, but I can tell you it’s meaningless. As evidence, consider that Amazon barely makes any profit, while Apple’s margins are in the 40 percent range. Both companies, as you know, are considered highly successful. Read More
Most people these days know that global wealth is unequal, and becoming more so. But the latest statistics that illustrate these trends are still mind boggling, no matter how you look at them.
There are lots of ways of comparing the inequality of wealth — which is defined as people’s assets, like their savings and property, minus their debts. One is that the world’s richest 1 percent has more wealth than the rest of the globe combined, according to data from Credit Suisse. Read More
Spending money is easy. Saving money is hard. But here’s a list of apps, sites and services that make it easier to save, easier to invest, and easier to spend smart when you’re at the beginning of your financial life. Read More
Healthcare and tech are among the fastest-growing sectors of the US economy, and several well-paying jobs in those industries are primed to expand dramatically in the next decade.
The US Bureau of Labor Statistics recently released its biennialprojections for job growth across hundreds of occupations between 2014 and 2024. Read More
Ernst & Young LLP was found liable on Friday by a Washington state jury for the losses of an investment firm from the collapse in 2008 of fraudster Bernard Madoff’s multibillion dollar Ponzi scheme.
A jury in Seattle sided with FutureSelect Portfolio Management Inc in finding the auditing firm was negligent in its work for funds that funneled money to Madoff.
Steven Thomas, FutureSelect’s lawyer, confirmed the verdict. Ernst & Young did auditing work for funds managed by Tremont Group Holdings Inc’s Rye Investment Management unit. Read More
Every great business needs effective and successful leaders–men and women who can inspire their employees to reach deep within themselves to get things done. Unfortunately, almost 60% of all businesses have a shortage of leadership talent, and this shortage has a negative impact on the ability of these organizations to perform and reach their goals. Thirty-seven percent of workers have left jobs because of bad leadership. Read More
The 1 percent didn’t become wealthy trading time for money, and neither will you. It’s tolerable for a start, but at some point, you have to intensely focus on scaling and leverage. Enter the Internet. The Internet has created a new economy that is accessible to everybody. Its explosive growth and sheer size has already changed our perception of the traditional way of doing business. Amazon, PayPal, Netflix, eBay, and numerous other tech giants have virtually cornered their respective markets and created domination in areas where just a few years ago traditional brick-and-mortar businesses reigned supreme. Read More
Extremely low mortgage rates and rising apartment rents in many cities have led some people to dive into homeownership more quickly than they’d originally planned. However, others are choosing to wait until the housing market recovers, in spite of the incentives to buy. The truth is, there’s no one right answer when it comes to determining whether to rent or buy a house. Read More
There’s a new richest man in the world.
It’s Spanish clothing magnate Amancio Ortega, who has overtaken Microsoft founder Bill Gates for the first time ever.
According to , the elusive multibillionaire founder of European clothing retailer Zara just smashed past Bill Gates to become the wealthiest person on the planet, with a fortune of $79.8 billion (€71.83 billion or £51.84 billion).
The elusive Ortega isn’t as much of a household name as Gates, but he’s quietly ascended the wealth rankings in recent years, as his company continues to perform well and expand. Read More