money – Page 2

Giving Back Money That Doesn’t Belong To You – What Are The Ethics?

4Apr

By THEIRL1ADMIN01No Comments

Journalism, MONEY

Giving Back Money That Doesn’t Belong To You – What Are The Ethics?

In Monopoly, a player who draws the card that says “BANK ERROR IN YOUR FAVOR. COLLECT $200” gets to keep the money. But what happens when such a mistake occurs in real life? Kelyn Spadoni, a 911 dispatcher, recently received quite a bit more than the US$80 she was expecting when financial brokerage firm Charles Schwab mistakenly transferred more than $1.2 million to her account, apparently because of a software glitch. When she discovered the extra money, she promptly transferred those funds to her other accounts and bought a new car and house, among other purchases. One could ask whether it was unethical for her to keep the money instead of trying to return it. As a scholar who studies the ethics of debt and finance, I believe the answer is more complex than a simple “yes” or “no.” Y...

Could This Be A Turning Point For The Industry? States Have Never Had This Much Money For Child Care

4Apr

By THEIRL1ADMIN01No Comments

IN OTHER NEWS

Could This Be A Turning Point For The Industry? States Have Never Had This Much Money For Child Care

Biden’s American Rescue Plan allocated $39 billion for child care — a historic infusion. But states are relying on small staffs, old systems and a short timeline to get the money out equitably. Chabeli Carrazana Originally published by The 19th This story was supported by the Solutions Journalism Network, a nonprofit organization dedicated to rigorous and compelling reporting about responses to social problems. When it was passed in March, President Joe Biden’s American Rescue Plan included the single largest allocation for child care in the nation’s history: $39 billion. That’s more money than the United States has spent on child care in the past five years combined. The aid was disbursed to states and tribes in mid-April, and earlier this month, the administration released its gu...

School Finance Laws Limit How Money Is Spent But Wind Farms Bring Windfalls For Rural Schools

28Apr

By THEIRL1ADMIN01No Comments

EDUCATION

School Finance Laws Limit How Money Is Spent But Wind Farms Bring Windfalls For Rural Schools

On the website for the local school district in Blackwell – a town of just over 300 people in rural Texas – school Superintendent Abe Gott says: “We believe that no matter your dreams, you can achieve them from Blackwell, Texas.” Texas has collected and spent more money on wind energy than any other state. Daxis/flickr, CC BY-ND To back that up, the Blackwell Consolidated Independent School District provides a postsecondary scholarship of up to US$36,000 for graduates from the district’s single high school. So far 140 students have benefited from scholarships, according to Gott. The money that makes this possible came from a $35 million deal the school district brokered with a wind farm company in 2005, part of the massive growth of that sector in Nolan County and Texas. The spread of w...

For Recent Grads Student Loan Debt Is Costing Much More Than Just Money

21Apr

By THEIRL1ADMIN01No Comments

BUSINESS, IN OTHER NEWS

For Recent Grads Student Loan Debt Is Costing Much More Than Just Money

President Joe Biden promised to forgive up to US$10,000 in student loan debt during his 2020 campaign. Now, a few months into his presidency, over 415 organizations have urged him to use his executive authority to cancel all federal student loan debt. We assembled a panel of academics to talk about the effects student loans have on recent graduates. How much student loan debt is too much? Kate Padgett-Walsh, associate professor of philosophy at Iowa State University Student debt is too much when it threatens the physical and mental health of young borrowers. Today’s college graduates now finish school with almost $30,000 in student loan debt, on average, an increase of over 300% from 1970 after adjusting for inflation. Research shows that the burden of this debt causes poorer mental heal...

It’s Becoming Less Common – But Most Couples Still Make Decisions Together When They Give Money To Charity

19Mar

By THEIRL1ADMIN01No Comments

MONEY

It’s Becoming Less Common – But Most Couples Still Make Decisions Together When They Give Money To Charity

While most U.S. couples make charitable giving decisions together, the share of joint decision-makers is declining, according to a study we published March 16. About 62% of couples decide about their giving together, down from 73% in 2005, the last time anyone studied this behavior in the general population rather than in rich families. Meanwhile, we found that it became more common for one partner to make all giving decisions for their household. When that happens, women are more likely to be in charge than men – 15% and 12%, respectively. The remaining 11% of couples decide separately about what charities to support and how much money to give away, down from 16% in 2005. These findings are based on responses to a Women’s Philanthropy Institute survey we and our colleagues conducted in ...

Donors And Volunteers Can Help Nonprofits Struggling To Do More With Less Money

5Apr

By THEIRL1ADMIN01No Comments

Journalism

Donors And Volunteers Can Help Nonprofits Struggling To Do More With Less Money

Historically, nonprofits have gotten nearly a third of their charitable donations just during the month of December. In recent years, this flurry of giving has begun on #GivingTuesday, an online campaign that takes place on the first Tuesday after Thanksgiving. We asked Erica Mills Barnhart, a University of Washington nonprofits scholar, to explain how nonprofits are holding up amid the COVID-19 pandemic and the economic distress it has caused, as well as why everyone with money to spare should consider giving some of it away now. 1. How are nonprofits faring? Many are in trouble. According to a study on how the pandemic is affecting nonprofits in Washington state, my colleagues and I found that demand for services is 10.2% higher, while funding has sunk by 29.5%. In addition, nonprofits...

Despite The Coronavirus Job Losses Immigrants Are Still Sending Lots Of Money Home – For Now

23Oct

By THEIRL1ADMIN01No Comments

BUSINESS, IN OTHER NEWS

Despite The Coronavirus Job Losses Immigrants Are Still Sending Lots Of Money Home – For Now

Banks and aid agencies have been warning of a pandemic-related plunge in the amount of money sent by migrants to family back home who rely on the income. In a typical year, more than 270 million migrants living and working abroad send these cash transfers, known as remittances, to their home countries. Yet so far, despite the lockdowns that have devastated wealthier economies and caused massive unemployment, remittances have generally held up this year. In some cases they’ve even been higher than usual, based on our review of the latest available data and press releases for top remittance recipient countries. Remittances to Mexico, for example, surged 9.4% in the first eight months of the year. Pakistan is also experiencing a record increase, while cash transfers to such countries as Viet...

Why Do Businesses Want To Operate In China – The Money Is Just Too Good

19Oct

By THEIRL1ADMIN01No Comments

BUSINESS

Why Do Businesses Want To Operate In China – The Money Is Just Too Good

Doing business in China can be a difficult and contentious proposition for companies in many countries. Yet even with charges of intellectual property theft, forced partnerships and tight restrictions on doing business, China continues to attract foreign capital. Why do businesses want to invest in China when there are so many other “business-friendly” countries and financial markets that support foreign investment? The United States has accused China of stealing the intellectual property of American firms, theft that is estimated at US$600 billion annually. As a precondition for doing business in China, American and other firms may be subjected to the forced transfer of their technology. In addition, regulations can require foreign investors to partner and set up a joint venture with a C...

Top football recruits bring in big money for colleges – COVID-19 could threaten revenue

29Apr

By THEIRL1ADMIN01No Comments

COVID-19, SPORTS

Top football recruits bring in big money for colleges – COVID-19 could threaten revenue

Colleges and universities are spending more than ever to land the nation’s top football recruits, with some schools having boosted their recruiting budgets by more than 300% in the last five years. These budgets can surpass US$2 million for schools like the University of Tennessee. Is it worth it? I study economics. Research I recently did shows just how big the payoff for spending money to recruit the best players can be. Half a million dollars The schools that secure five-star recruits – the 30 or so players judged to be in the top one-hundredth of the top 1% of high school football players – can increase total revenue by over $500,000 for a university’s athletic department. Most football teams never secure a five-star recruit. Others, such as the University of Alabama and Louisiana St...

Prosecutors Seek 10-Year Jail Term Over Money Laundering in Bitcoins and Link to Silk Road

27Dec

By THEIRL1ADMIN01No Comments

LAW ENFORCEMENT

Prosecutors Seek 10-Year Jail Term Over Money Laundering in Bitcoins and Link to Silk Road

A Former CEO has run into deep trouble with the Japanese legal system. Tokyo based prosecutors are seeking to have the former CEO sentenced to over ten years in prison for the embezzlement of company’s funds, money laundering in bitcoins, and his link to the infamous dark web marketplace called the Silk Road. Mark Karpeles, the former CEO at Mt. Gox, is facing charges for abuse of power, embezzlement of the company’s funds and money laundering in virtual currencies during his term in office. According to the report by a local Tokyo-based news outlet, Mark Karpeless embezzled over $3 million (340 million yen) in digital currencies – money that belonged to the company. He is said to have transferred the loot into his several e-wallet personal accounts to minimize the chance o...