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These Cities Cost Student Loan Borrowers Most

These Cities Cost Student Loan Borrowers Most

These Cities Cost Student Loan Borrowers MostStudent debt is one of our country’s most pressing problems. As of this year, the total amount of student loan debt has reached $1.44 trillion. Paying back the average $37,000-plus loan will be a challenge for millions of students for decades to come. And for some more than others. This means that loan borrowers will have to focus less on investing and more on repayment, less on contributing to the economy and more on simply balancing budgets.

To be responsible and to flourish do not always coincide. Larger cities with higher housing costs will drain more income from a person than smaller towns, while yet offering unique opportunities and venues that attract younger crowds. It’s a classic catch-22. More, perhaps higher-paying, jobs are in the cities, and so are, quite likely, friends and opportunities. Should a young person, with their whole life ahead of them, forgo the city to repay steep student debt, while in the long-term stifling their social life and career?

Credible.com has helped us answer this question in some form: by compiling a list of “Cities where student loan borrowers struggle with debt the most.” Maybe the answer isn’t to forsake the city in general, but only certain cities that have the unfortunate characteristic of demanding higher housing costs without proportionately offering higher wages.

To compile their list, the team at Credible reviewed data submitted by 8,981 applicants from America’s 23 largest cities. The city that makes it most difficult to repay a student loan is San Jose, California, seizing on average 31.47% of a person’s monthly income in housing and student loan costs. This percentage doesn’t include other expenses like food, transportation, or taxes.  What might come as a surprise to many, Dallas, Texas, ranked least expensive among the top 23 cities, nabbing 26.24% of income.

The full list may be found here. Perhaps the question isn’t whether to move to a city, but in which city one might sustainably live. As student loans are one of the few forms of debt that are essentially impossible to dissolve by bankruptcy, they are here to stay. The road that leads directly to a good life, debt free, full of friends and possibilities, isn’t clear to student loan borrowers at this point. However, thanks to the new study by Credible.com, it’s easier to discern which steps one may take to begin the journey.

FORBES SportsMoney Index: Ranking Money in Sports

FORBES SportsMoney Index: Ranking Money in Sports

FORBES SportsMoney Index: Ranking Money in SportsHave you ever wondered who the highest paid athletes in all of sports are? Or the most valuable teams? The most influential brands? To answer these pressing questions of our time, Forbes compiled a unique index to track and rank money in sports.

Forbes describes the new index: “To create the SMI, we’ve combined all of FORBES’ SportsMoney annual valuations lists (sports teams, brands, athletes, agencies) and proprietary financial data into a single ranking that reflects their monetary success and how their values affect one another. This is the first time that a cross-category ranking of sports business influence has ever been compiled.”

The main factor that makes FORBES SportsMoney Index uniquely comprehensive is its mapping of all connections between brands, agencies, athletes, and teams. This is how the aforementioned cross-category ranking is determined. As a result, the financial world may now study how wealth is truly generated and established in the domain of sports.

Admittedly, for us the benefit is a bit less academic, though nonetheless interesting. When it comes to sports, comparing statistics is one of the most satisfying activities of speculation. Below you’ll find the top 3 brands in sports and the top 3 teams and athletes in soccer, basketball, baseball, and football. And for the fans of other sports, below the top 3 we’ve included the most valuable athletes and teams of every other sport ranked in the order they appear. We have not included the number of connections to other brands each brand, team, or athlete has. For that, and more, view Forbes’ fantastic, complete list here.


Top 3 Brands:

1 (#1) Nike

SMI Connections 9 Value: 27.5 B Revenue: $30 B

2 (#4) Pepsi

SMI Connections 4 Value: 19.4B Revenue: 11.8B

3 (#13) Budweiser

SMI Connections 14 Value: 23.4B Revenue: 10.9B


Top 3 Teams:

1 (#2)Real Madrid (Soccer)

Value: 3.6 B

Revenue: 694 B

Operating Income: 162 M

2 (#3) Barcelona (Soccer)

Value: 3.5 B

Revenue: 675 M

Operating Income: 108M

3 (#6) NYY (Baseball)

Value: 3.4B

Revenue: 516M

Operating Income: 13M

 

Top Teams in Other Sports:

(#10) New York Giants (Football)

Value: 3.1B

Revenue: 444M

Operating Income: 133M

(#11) New York Knicks (Basketball)

Value: 3B

Revenue: 307M

Operating Income: 109M

(#115) Chicago Blackhawks (Hockey)

Value: 925M

Revenue: 173M

Operating Income: 34.4M

(#144) Ferrari (Auto Racing)

Value: 1.3B

Revenue: 455 M

Operating Income: 7M


Top 3 Athletes:

1 (#5) LeBron James (Basketball Cavaliers)

 

LeBron James is the only top ranked athlete in the index that doesn’t play for one of the top 3 most valuable teams. The Cavs are the 5th most valuable team in basketball and sit as the 38th most valuable team in all of sports.

Just the 3rd player in NBA history to make at least $30 million in salary (joins Jordan and Bryant) Added Intel and Verizon last year, joining Nike, Coca-Cola (Sprite), Beats By Dre, and Kia Motor.

Total Earnings: 86 M

Endorsements: 55 M

Salary: 31 M

2 (#7) Cristiano Ronaldo (Soccer Real Madrid)

Worlds most popular athlete (200 Million social media followers) Nike, Tag Heuer, Sacoor Brothers suits, and Monster Headphones endorsements. 3-time FIFA best player in the world, made at least 50 goals in over six seasons in a row for Real Madrid.

Total Earnings: 88M

Endorsements: 32M

Salary 55M

3 (#9) Lionel Messi (Soccer Barcelona)

Won FIFA’s play of the year award 5 times.

Total Earnings: 81.4M

Endorsements: 28M

Salaray: 53.4M

Top Athletes in Other Sports:

(#19) Eli Manning (Football Giants)

Total Earnings: 45M

Endorsements: 8M

Salary: 37M

(#58) Jacoby Ellsbury (Baseball NYY)

Total Earnings 21.8 M

Endorsements: 600K

Salary: 21.2 M

(#73) Jordan Spieth (Golf)

Total Earnings: 52.8M

Endorsements: 32M

Salary: 20.8M

(#87) Roger Federer (Tennis)

Total Earnings: 67.8M

Endorsements: 60M

Salary: 7.8M

(#126) Denny Hammlin (Auto Racing – Nascar)

Total Earnings: 15.2M

Endorsements: 1.8M

Salary: 13.4M

(#134) Alex Ovechkin (Hockey )

Total Earnings: 12M

Endorsements: 3M

Salary: 10M

#191 Floyd Mayweather (Boxing)

Total Earngings: 44M

Endorsements: 12M

Salary: 32M

 

How Millennials are Happy and Productive in the Workplace

How Millennials are Happy and Productive in the Workplace

How Millennials are Happy and Productive in the Workplace“67% of millennials are likely to share personal details [at work]…while only one-third of baby boomers do the same,” found a 2014 study by LinkedIn.

The work/life balance is an unspoken rule among working people. What happens at home shouldn’t be brought to work, and vice versa. This has long been the idea undergirding “professionalism.” But millennials have challenged this distinction in a very simple but powerful way.

It goes without saying: there are many reasons to keep the work/life distinction afloat. The workplace is not home. And a certain level of professionalism is required to maintain an efficient organization. This is true without qualification.

But what millennials have done, writes Sarah Landrum of Forbes, is widened their investment in the workplace. Work isn’t just an investment of time for them; it’s also an emotional investment. And this isn’t a bad thing. The attempt to roadblock the emotional aspect is not only a misunderstanding of science (the brain is interconnected in unimaginably complex ways), but a recipe for unproductive habits.

How Work + Happiness = Productivity

Many of you, like myself, may think making friends at work would impede upon productivity. But friendships at work aren’t like friendships at home. They don’t involve hanging out, but are held together and formed by self-disclosures in conversations. What does this mean? Simply put: it’s talking about how you feel about what you do, about how the weather is, about your weekend, more than about what you do, Landrum points out.

In Psych 101 you might have learned the simple difference between an acquaintance and a friend. Acquaintances talk about facts. They say to each other, “It’s sunny out. It’s a nice day. I have work to do.” But they don’t go further by disclosing any information about themselves like, “It’s sunny out, I think I’ll go to the park after work because there’s a good area to fish.”

Just to understand this from a millennial’s perspective, think about it this way: If you’re not self-disclosing sometimes to people you talk with every day, you’re basically working with acquaintances. And that means you never learn more about anyone, even after 20 years of work.

In 2014 Censuswide and LinkedIn joined to conduct a survey on 11,500 working professional that spanned 14 countries. They found that “57% of respondents indicated having friends at work made them more productive.”

Conclusion

Millennials get the most out of work by relating to those around them. This doesn’t keep them from being productive. In fact, it makes them more productive. And one reason just might be because they don’t feel like they are working in a world of acquaintances. The emotional investment is a powerful piece to the overall work experience. And it might be the key to productivity in a world where everyone is more and more alienated by technology.

And there’s another benefit. Apparently friendships at the workplace make companies more valuable to employees. As Landrum reports, “When asked whether they’d swap camaraderie for a larger paycheck at a different employer, 58% of men indicated they wouldn’t make the trade. A whopping 74% of female professionals concurred.”

The work/life distinction has a valuable place in a professional setting. But it doesn’t necessarily deny the possibility of self-disclosure. And self-disclosure just may be the key to happiness and productivity in the workplace.

labor day history

A History of Labor Day

Labor Day is here. For most of us, that means a day off work, the beginning of school, or a bid adieu to summer. But how did the first Monday of every September become a holiday? From its murky origins to its present day vacation placeholder, the history of Labor Day is a long one.

George Pullman and the Railroad Sleeping Car Company

Outside the melting pot of 1880s urban Chicago, businessman George Pullman founded a “worker’s paradise.” Visionary in its ideals, the company town of Pullman, Illinois, was the largest and earliest of its kind. Some 6,000 company employees bought from company-owned markets, lived in company-owned rentals, and learned and dined at company-owned churches, libraries, and entertainment venues.[i]

This idea of a company town was not new. It was a common practice among mining companies to establish these towns to minimize payout to employees. With upcharges for everything, a miner’s take-home check diminished to the point of nonexistence, and at times a miner could owe debts to their companies. Some executives established company towns to maximize profits.

But Pullman’s idea was radical. Outside the lure of a frenetic Chicago, a town of peace, order, and prosperity would exist on the foundation of labor rights. According to Pullman, a company-owned town could be good for workers because the company controls the value of goods. And since the company also determines paychecks, the worker, in theory, would require less compensation for a high-quality life.

The company town would provide a prosperity to its workers unattainable in other towns.

The Pullman Strike[ii]

The beginnings of Labor Day: The Pullman Strike

During the Pullman Strike of 1894, the first meat Train leaving Chicago Stock Yards was escorted by United States Cavalry, July 10, 1894.

For about 14 years the town instituted Pullman’s ideas, and they worked. Then the economic panic of 1893 befell the nation. Demand for Pullman cars plummeted. And on May 11, 1894, nearly 4,000 factory employees went on strike.[iii]

The reasons for the Pullman Strike were many: Pullman disallowed any employee from buying or renting a house outside the company town; he had a “paternalistic” governing style, forbidding any democratic initiatives from influencing governance; and, as profits and paychecks declined correspondingly with the demand for Pullman cars, rent rates remained unmoved.

As the strike gained attention, the American Railways Union (ARU) joined the cause, led by Eugene V. Debs. The ARU called for a nationwide boycott of Pullman cars. Union and non-union members eventually rioted, burning railcars and obstructing railroads.

President Glover Cleveland, under pressure by stifled mail trains and anxious railroad executives, declared the strike a federal crime. 12,000 troops deployed to Illinois to discontinue protests. A story of ensuing violence is told by the Huffington Post.[iv] The clashes between troops and protesters signified an end to the strike. It concluded on August 3, 1894, at peak involving some 250,000 rail employees in over 27 states[v]

When the Pullman Strike ends, the ARU disbands, Debs finds himself in prison for six months, and Pullman employees sign pledges vowing they’d never unionize again. The outfall stultified union growth and development across the nation until the Great Depression.

A National Holiday

1894 was an election year. And Cleveland’s tactics for ending the Pullman strike was looked upon as ignominious. Picking up on sentiment from union workers in New York City, who in September of 1892 took unpaid time off to protest for a national labor holiday, Cleveland sought to appease working voters.

Six days after troops toppled the Pullman strike, a national labor holiday bill appeared on Cleveland’s desk, after passing through Congress with unanimous favorable votes in both houses. Thus Labor Day was born.

A description of Labor Day, found in the PBS archive,[v] is given by Samuel Gompers, then head of the American Federation of Labor, describes it well:

“the day for which the toilers in past centuries looked forward when their rights and their wrongs would be discussed…that the workers of our day may not only lay down their tools of labor for a holiday but upon which they may touch shoulders in marching phalanx and feel the stronger for it.”

Labor Day Today

Though a century displaced, the spirit of the labor holiday movement can be seen in eight hour work days, overtime pay, vacation days, and many other modern labor laws.

But the intention of Labor Day seems all but lost. According to “Labor Unions in the United States,” only about 11.3% of United States workers belong to unions, down from some 35% at peak membership in 1954.[VI] Seen as vital around the turn of the 20th century, and following massive organizing efforts after WWII, reflections on labor and work seems to have dwindled with union politics.

For many people, Labor Day weekend signifies the unofficial end of summer. And for most, it is enough to spend time with family and friends, with a day off from work.

 


[i] Company town (2016). In Wikipedia. Retrieved from https://en.wikipedia.org/wiki/Company_town#Pullman_lesson

[ii] The origins of labor day. (1996). Retrieved September 1, 2016, from News Desk, http://www.pbs.org/newshour/updates/business-july-dec01-labor_day_9-2/

[iii] Pullman strike (2016). In Wikipedia. Retrieved from https://en.wikipedia.org/wiki/Pullman_Strike

[iv] Delaney, A. (2014, September 1). The bloody origin of labor day. Huffington Post. Retrieved from http://www.huffingtonpost.com/2014/09/01/labor-day-2014_n_5738262.html

[v] Ibid.

[VI] Labor unions in the United States (2016). In Wikipedia. Retrieved from https://en.wikipedia.org/wiki/Labor_unions_in_the_United_States#Post-World_War_II

4th of July

Celebrate the 4th at Your Apartment

4th of JulyWhen you think of the 4th, you think of fireworks. Firework explosions in the sky. A ridiculous amount of different colors. But you also think of the people you experience it with. Here are some ideas for having all the colors and lights, without the explosions.

Holiday Lights

Replace your sparklers and fireworks with holiday lights! This way, you’ll have all the colors without any of the noise. It also makes for a good setting to host people. And you won’t have to shout to talk.

Color-Coded Food

A fun way to bring in the red, white, and blue is to separate food offerings according to color. For instance, cut-up watermelons and strawberries are great for summer parties. And they look reddish. Marshmallows, sour cream and onion dip are white colored foods. Use blue tortilla chips and blueberries to represent blue. But there are plenty of other foods to use, at a low cost. Mix it up!

USA Clothing

That’s right. Wear the USA flag inspired T-shirt. And don’t forget the matching pants. Why not?

Invite Your Neighbors

This is a great way to get to know everyone! You don’t even have to throw the party in your apartment. Maybe there’s a grilling station, pergola, or community clubhouse your property managers might let the community use for this occasion.

Whatever you do, do it with other people. And celebrate!