Plenty To Smile About: Weightlifter Maiya Maneza of Kazakhstan celebrates on the podium with her new 400-gram gold medal, matching the feat of her compatriot Zulfiya Chinshanlo. The Kazakh Olympians will each receive a $250,000 bonus.
Originally published on Wed August 1, 2012 1:26 pm
Weighing 400 grams, the Olympic gold medals that are being doled out at the London 2012 Summer Games are the heaviest ever, according to reports. But that doesn't mean they're the most valuable: at an estimated $620.82, they're nearly $590 short of the $1,207.86 value held by a gold medal from the Stockholm Games of 1912.
The discrepancy stems from the fact that the 2012 gold medals contain only 6 grams of gold; the rest is silver and copper. In fact, the London bling contains more copper than gold, which is only used to coat the medals with a plating layer.
Rebeca Espinal admits with a shy smile that she's a straight-A math student. She's a high school graduate who dreamed of going to college.
Instead, Espinal, 17, is working in a Charlotte, N.C., factory that makes gas turbines and generators. She is an apprentice with the German company Siemens.
"I was planning on getting a degree in international relations, but with financial aid and how difficult it is to pay for college and everything," she says. "So when Siemens came along and gave me the offer, it was too good of an opportunity to just let it go.
Originally published on Thu July 26, 2012 10:30 am
Apple reported its financial results for the quarter ended June 30, and depending how you look at it, they're either amazing or disappointing.
The company says it made $8.8 billion in profits over the course of three months. That's more than enough to buy every share of Alcoa, the global aluminum giant, which was worth just under $8.6 billion when the stock market closed this afternoon.
If there is a founding ethos in the world of high-tech startups, it's this: The idea is everything. Facebook's initial public offering might have seemed like the perfect illustration. A simple concept, conceived by a college student, became a $100 billion empire in just 8 years.
HSAs or Health Savings Accounts can provide significant tax deductions as well as help you deal with rising health care costs. However, they are not for everyone. Please read this month's lead article to learn if an HSA makes sense for your family.
In my recent travels I've spoken with portfolio managers, analysts, and researchers from a wide variety of disciplines. The consensus of opinion is that we will continue to face market volatility as we move forward. Active portfolio management emphasizes diversification, focus, and a long-term perspective.
~ Joseph Chornyak, Sr.
While it may appear as though though there's a buy-and-hold strategy behind portfolio strategies today, what's really happening is that sound investing principles, those principles that have stood the test of time, are still in play.
Wells Fargo Bank agreed to pay at least $175 million Thursday to resolve allegations it discriminated against black and Latino home buyers, in what the Justice Department called the second largest settlement over fair lending violations.
The debate is back over what to do with the Bush tax cuts, which are scheduled to expire at the end of the year.
The Obama administration wants to extend them only for families earning less than $250,000 a year. Republicans generally favor extending them for everyone. What hangs in the balance are tax breaks for wealthier Americans.
Last week, we re-aired an episode recorded in 2010 with economist Joshua Gans, author of the book Parentonomics. In the episode, Gans' 11-year old daughter, B., told us about his technique for keeping her from spending too much allowance money on candy:
The long economic downturn that began in late 2007 came to be known at the Great Recession –- the worst period since the Great Depression of the 1930s.
Even though both events were momentous enough to earn the word "great" as a modifier, they really are not comparable, according to recent research by economist Mark Vaughan, a fellow at the Weidenbaum Center on the Economy at Washington University in St. Louis.
A "For Sale" sign hangs outside mostly empty apartment blocks in the Madrid satellite town of Sesena in February. Banks are trying to sell billions of euros worth of property left by bankrupt developers. This is attracting bargain-hunting investors from abroad.
Back in the day, Madrid's Palace Hotel was Ernest Hemingway's old haunt, or at least the bar was. Now, rooms at the posh hotel just down from the famed Prado Museum go for up to $6,000 a night. And gathering in its lobby these days? An altogether different type of foreigner: the kind in expensive suits.
"Probably they are institutional investors, hedge funds, sovereign wealth funds," says Federico Steinberg, an economist at Madrid's Elcano Institute.
There's a lot of cash around the world, he says, and a lot of people looking for bargains.