These days the phrase “living paycheck to paycheck” may bring to mind low-income households right up through much of the middle class, and economists at Princeton and NYU say you can loop in a sizeable number of wealthy households, as well. As The Washington Post reports, demographically speaking, “the wealthy hand-to-mouth are older, more educated, and have substantially higher incomes than their poor counterparts.”
Harlem Children’s Zone President and CEO Geoffrey Canada ’74 and American Express CEO Ken Chenault ’73 are among Fortune magazine’s list of “The World’s 50 Greatest Leaders,” comprising those who energize their followers and make the world a better place.
Though most people might automatically assume Starbucks is the dominate coffee chain in their area, statistician Nathan Yau proves otherwise. According to Yau’s map, Dunkin’ Donuts is king in New England and along the East Coast. In San Francisco, Peet’s edges out Starbucks. “Our coffee preferences tend to be regional,” Fast Company concludes.
MarketWatch sums it up pretty succinctly with its line, “if Dick Tracy and Gordon Gekko had a love child, he’d probably wear this watch.” Check out the first ever investing app for smartwatches (yes, evidently that’s a thing) unveiled by Fidelity’s research and development lab.
Conversations about starting one’s own business tend to contain the same buzzwords, from passion to transparency. While these are important concepts, Jay Goltz, owner of five small Chicago businesses, offers that they ought not to be thrown around without thought.
In one day, Bowdoin students traveled from L.L. Bean’s manufacturing center in Brunswick (where the famous L.L. Bean boot is made) to a tech start-up in Portland. Along the way, they visited a veterinary diagnostics lab that employs 5,000 people, several technology companies, an international education agency, and a shared work space that houses many small businesses. They spoke to entrepreneurs, human resource directors, CEOs, engineers, scientists, software developers, marketers and more at every stop.
This was Bowdoin’s first-ever “Bowdoin Day in Portland,” designed to show students diverse and interesting career possibilities in and around Portland. The day is modeled after the popular “Biz Tech Trek” that Bowdoin Career Planning organizes every year for students to introduce them to companies in Boston. Read the full story.
Kroll, a security consultant, found that 70 percent of the companies it studied were affected by fraud in 2013, up from 61 percent the previous year. This increase comes at a time when companies are straining the bonds of loyalty by using more contractors and temporary workers, and outsourcing to the emerging world. The Association of Certified Fraud Examiners calculates that three times as may frauds are discovered through tips than by any other method, prompting the government to provide whistleblowers with increased legal protection and financial incentives. Read more about corporate fraudsters and what can be done about them.
Karen Gordon Mills recently took time out of her schedule as a senior fellow at Harvard Business School and the Kennedy School of Government to deliver a talk on finance to Bowdoin students. She also gave advice on how to apply a liberal arts education toward a career in business.
Mills, who is married to President Barry Mills, discussed her education and career path, describing in particular her transition from the private sector to public service. From 2009 to 2013, she served as President Obama’s administrator for the Small Business Administration. Read the full story by Erica Hummel ’16.
That risk and return go hand in hand is fundamental to investing. Michael Kitces, a partner and director of research for Pinnacle Advisory Group, and publisher of the financial planning industry blog Nerd’s Eye View, shares insight on “The Simple Truth Investors Often Ignore.”
With the recent release of the federal budget comes the Obama administration’s proposal to spend an additional $5.23 billion over the next decade to help mitigate the doctor shortage. However, based on current demographic trends, today’s scarcity of primary care practitioners, the most common use of doctors, is destined to worsen, causing big hospitals to rush to hire as many primary care doctors possible. It’s projected that this run on primary care doctors will create oligopolies in markets across the nation. Read more about the issues facing health care reform and possible solutions.