Hear from the financial experts about how to capitalize on the gig economy
Hear from the financial experts about how to capitalize on the gig economy
It’s the latest move in the battle for fast-food chicken customers. The Arkansas-based chain menu includes chicken tenders, chicken and waffles, and chicken wings.
The House Ways and Means Committee is slated to introduce a bill this week that would alter some important retirement provisions. See: Planning to Retire in 2021? Here's What You Need to Know Find: 10...
As the economy rebounds from the pandemic, many employers are finding that they need more talent to replace people who were laid off early on and to handle increased demand. Meanwhile, many employees...
In the course of your retirement planning, make sure your anticipated income sources won't let you down.
It's no secret that many workers are falling behind on their retirement savings. The average 401(k) balance is around $109,600, according to a 2020 report from Fidelity Investments, while the average IRA balance is slightly higher at $117,700. Retiring a millionaire may seem impossible if you're not wealthy, but it can be done -- even if you're earning an average salary.
With some Google employees returning to the company's offices voluntarily last month, CEO Sundar Pichai says the tech giant will adopt a new hybrid work week.
If you want a financially comfortable retirement with ample money available, you need to take two basic steps. In a recent article I described how to design a withdrawal strategy that will keep your portfolio healthy if you have saved enough (but only enough) to meet your needs. If you retire with a portfolio that’s at least 25 times the size of the annual withdrawal you need (in other words, with $1 million if you need $40,000 from it the first year), you will most likely succeed.
A U.S. court could order the Dakota Access Pipeline (DAPL) shut in coming weeks, disrupting deliveries of crude oil, and making nearby rail traffic more congested. WHAT IS DAPL? The 570,000-barrel-per-day (bpd) Dakota Access pipeline, or DAPL, is the largest oil pipeline out of the Bakken shale basin and has been locked in a legal battle with Native American tribes over whether the line can stay open after a judge scrapped a key environmental permit last year.
The Employee Benefit Research Institute (EBRI) Retirement Confidence Survey, the nonpartisan group’s 31 annual report, is hot off the presses. “Workers envision a transition to retirement that is misaligned with retirees’ realities,” according to the researchers. Nearly half of retirees retire earlier than they expected —most often because they felt they could afford to, because of a health problem or disability, or because of changes within their organization.
Retiring early seems to be on everyone’s minds these days. The growing popularity of the so-called FIRE movement — short for financial independence, retire early — is a testament to...
Housing a retirement plan inside a variable annuity contract offers some big advantages, but mostly if the account holder is close to retirement.
NEW YORK/CHICAGO (Reuters) -General Electric Co shareholders rejected top executives' compensation packages, including a payout of as much as $230 million to CEO Larry Culp, at the industrial conglomerate's annual shareholder meeting on Tuesday. While the shareholder vote was non-binding, the move was a rare rebuke of a major corporation's handling of its executive pay. As part of an extension of Culp's employment contract to 2024, GE last August canceled old shares given to him and granted him new shares tied to lower financial targets.
The appearance - which is procedural and is the first of three pretrial hearings this week - was her first since news broke in March that the once rising star of Silicon Valley was pregnant. At the time her lawyers and prosecutors had asked for a delay in the start of jury selection to August.Holmes and former Theranos President Ramesh "Sunny" Balwani have pleaded not guilty to charges they defrauded investors, doctors and patients by falsely claiming Theranos could revolutionize medical lab testing with technology that could enable a wide array of tests with a few drops of blood.Holmes was indicted in 2018 and her federal trial in San Jose, California, was originally scheduled for July 28, 2020 but was postponed due to the COVID-19 pandemic.
The Queen came to the Duchess of Sussex’s aid in her legal battle against the Mail on Sunday on Wednesday by dismissing claims that she owned the copyright to a letter Meghan wrote to her father. Her Majesty’s lawyers intervened in the High Court case as the two sides locked horns over one of the final bones of contention. The Duchess’s former communications secretary, Jason Knauf, also “emphatically” denied having any copyright claim to the letter, landing a final blow to the newspaper’s case. Their interventions on Wednesday paved the way for Lord Justice Warby to award a summary judgment on the outstanding copyright claim and with it, further costs. The Duchess successfully sued Associated for breach of privacy and copyright relating to the publication of five articles featuring extracts of the letter in February 2019. In February, she won a summary judgment, a legal step negating the need for witness evidence, in relation to the privacy claim and the bulk of the copyright claim. One of the final issues on which both sides disagreed was whether the Duchess was the sole owner of the copyright of the letter, having admitted that she sought guidance from others, including Mr Knauf and her husband, Prince Harry. Associated suggested that the Duchess sought professional advice because she knew the letter would be made public and that it was intended for use as part of a media strategy to enhance her image. As a co-author, Mr Knauf’s role at Kensington Palace might have rendered the letter Crown copyright. However, the court heard that Mr Knauf had confirmed in writing, via his solicitors, that despite making a “very minor suggestion” that Meghan include a reference to her father’s ill health, he did not co-write the letter. As such, he said he had no wish to become a party to ongoing legal proceedings.
Photo Illustration by The Daily Beast / Photos via GettySince mid-April, the United Metro Energy facility in Brooklyn has had a squadron of oil workers stationed outside—alternating shifts so that men are there 24 hours, seven days a week—striking for better pay and benefits from the company’s owner: grocery store billionaire, twice-failed mayoral candidate, and right-wing shock jock John Catsimatidis.The workers, a coalition of mechanics, terminal operators, and service technicians, elected to go on strike on April 19, following years of delayed negotiations on a union contract, which they voted to form back in 2018. “We are out there every single day, around the clock,” said Assaf John, who has been working as a service technician at the company for 12 years. “I’m here until 3 o’clock, then we have guys coming in at 3 p.m., and some who are there overnight until the morning.”Catsimatidis told The Daily Beast by phone that the picket line was a first for him. “All I can say is that I’m a New Yorker for 70 years, and in 51 years of doing business I’ve never had a strike before, and contrary to what you hear we have never, ever refused to sit down,” he said. “I am always available.”But the executive and frequent political donor, whose fortune hovers around $2.8 billion, according to Forbes, has been skittish about labor demands in the past. (Neither United Metro Energy nor its parent company, Red Apple Group, immediately responded to requests for comment.)In 2015, the Gristedes CEO backed out of an opportunity to buy the New York Daily News, in large part due to the paper’s pension plans. Two years before that, he was court-ordered to pay more than $8 million in legal fees and back pay to Gristedes workers who sued him for unpaid overtime, according to reports in the News. At the hearing, Catsimatidis reportedly showed up more than two hours late.The Supermarket Billionaire Who Wants To Buy ‘The Daily News’On Wednesday, union representatives from Teamsters Local 553 will meet with United Metro for another round of negotiations. Due to the pandemic, the negotiations have taken place on Zoom for the past year, and Catsimatidis has attended many of them.The local’s executive officer, Demos Demopoulos, told The Daily Beast that a quick resolution was unlikely. Late last month, United Metro filed an unfair labor practice complaint with the National Labor Relations Board. Around the same time, some 150 union members turned out for a protest rally.“They’ve been on strike for 15 days now,” Demopoulos said. “We hope we’ve been making headway, but one of the stumbling blocks is that the company is refusing to pay the industry standards.”The striking workers earn as much as 50 percent less than their peers in the union, and haven’t received a raise in three years, Demopoulos said. Andre Soleyn, a fuel terminal operator who spent five years at the company, said he made $20.50 per hour, when the industry standard for his position hovered around $36 to $38 per hour. Some of his coworkers made just above $15, the state minimum wage.Unlike employees of some other companies in the retail oil business, the United Metro workers have no pension plans. John told The Daily Beast that he could rarely find doctors that accepted their health and dental insurance. “They usually say, ‘Oh we don’t know about this insurance,’” he said. “I don’t know how we’re supposed to survive—everything is going up and we are not getting the benefits.”On the first day of the strike, Soleyn, who had figured prominently in the union organization effort, was informed by letter that he had been “permanently replaced.” Two other workers have gotten similar letters, Demopoulos said. The letter indicated that the workers can only return if their replacements leave more than a year after the strike’s end. Courtesy Teamsters Joint Council 16 Catsimatidis admits he hired replacement workers—also known as scabs—but claimed that didn’t mean the longtime employees had been fired, despite what their letters said. “The word ‘permanent replacement’ is fictitious,” he said. “When you replace people—you still have to run your business—what usually happens is, 99.9 percent of the time once the thing settles, all the old people go back to work.”Catsimatidis cuts a prominent figure in New York business circles, serving as CEO of the Manhattan-based Gristedes, alongside positions in a range of other enterprises, including United Metro’s parent company, Red Apple Group. In 2009 and 2013, he ran as a Republican candidate for New York mayor on fairly idiosyncratic platforms. One political ad attacking his 2013 primary opponent, Joe Lhota, boasts that Catsimatidis “loves Cats, Dogs, and all Animals,” while Lhota “has no heart.”In 2019, he bought the conservative radio station WABC, home to a slew of right-wing figures like Curtis Sliwa, and syndications of shows from Brian Kilmeade, Mark Levin, and Ben Shapiro. For years, Catsimatidis has had his own show on the station called The Cats Roundtable, airing interviews with guests like Rudy Giuliani, and as one press release put it, “John’s unique take on the news affecting New York.”His take on the strike was mostly confusion. “I don’t know why there’s a problem this time,” he said on the phone. “There are theories, yes, but I’m not legally able to talk about it.”Read more at The Daily Beast.Got a tip? Send it to The Daily Beast hereGet our top stories in your inbox every day. Sign up now!Daily Beast Membership: Beast Inside goes deeper on the stories that matter to you. Learn more.
Baking is actually a pretty good metaphor for growing your retirement nest egg. For a lot of people, the Roth IRA's "icing" is the sweetest of all. The biggest appeal of Roth IRAs is that they allow you to withdraw your money tax-free as long as you follow certain rules and pay taxes on your contributions the year you make them.
A court date on an early test is coming up later in May, and that's just one of several lawsuits making their way through the system.
Taiwan Semiconductor Manufacturing Co Ltd (TSMC) is planning to build several more chipmaking factories in the U.S. state of Arizona beyond the one currently planned, three people familiar with the matter told Reuters. TSMC, the world's largest contract chipmaker, announced in May 2020 it would build a $12 billion factory in Arizona, an apparent win by the Trump administration in its push to wrestle global tech supply chains back from China. TSMC is setting up a 12-inch wafer fabrication plant in Phoenix, and the facility is expected to start volume production in 2024, Taiwan's investment commission of the ministry of economic affairs, which approved the investment, said in December.
Ford and GM hit hardest, building fewer cars for consumers amid a worsening chip crisis.
Remember the lawsuit that alleged Subway’s tuna was “made from anything but tuna”? Now, an Elroy, Wisconsin, woman is taking a similar approach: she’s suing food giant Kraft Heinz, claiming that the company’s Bagel Bites Pizza Snacks packaging amounts to fraud.