In what has been a bit of a shotgun wedding, Nike has finally agreed to sell its products directly to Amazon. With hordes of third party sellers offering up Nike footwear and apparel on the giant e-commerce site, Nike was losing control of pricing, and leaving itself open to fake goods. Laura Stevens and Sara Germano write: One reason for their capitulation is the collapse of a retail distribution network they could better control, as malls flounder and chains like Sports Authority Holdings Inc. shutter. A company’s power to dictate who could sell its products and how, penalizing … [Read more...]
A Way Forward for Trump
Trump got rolled. That's the blunt assessment from Cato Institute senior fellow, Dan Mitchell. Trump and the GOP gave Democrats a win when they were so scared of getting blamed for a government shutdown that they caved on nearly every priority in the budget for the remainder of fiscal 2017. It's hard to argue with that assessment. Mitchell suggests that Trump and the GOP, in order to avoid further embarrassment, take a look at the stunning victory Maine Governor Paul LePage was able to win recently. LePage was faced with a budget bill that raised the state's lodging tax. But the governor … [Read more...]
Long-Awaited Tesla Model 3 to Roll Off Assembly Line Friday
Current and aspiring Tesla owners and enthusiasts have long been anticipating the roll-out of the car company's "Model 3." The Model 3 will be Tesla's first mass-produced car, and prices will start at $35,000, aimed squarely at the mid-market. Tesla CEO Elon Musk hopes to ramp up production of the Model 3 to to 500,000 cars in 2018. Things will start slow though, with an anticipated 100 cars produced in August. Neal Boudette reports at The New York Times: Tesla said production of its first midpriced car, the Model 3, would begin on Friday, two weeks earlier than planned, with the first … [Read more...]
In Illinois, More of the Same, Taxes
Raising taxes hasn't worked yet in Illinois. Governor Bruce Rauner has vetoed a bill to raise income taxes in Illinois. The tax increase is an attempt of legislators to stave off a junk credit rating for the state. The state Senate has already voted to override the veto, and today the Illinois House of Representatives will try to do the same. Despite having some of the highest income taxes in the country already, Illinois politicians seem certain they'll be able to get the state's finances under control if they can steal just a little bit more of the people's hard earned money. In the video … [Read more...]
Are You Prepared for an Emergency While Travelling Abroad?
As you plan your next trip abroad make sure you know your health insurance coverage. You'll need to do some research on your health plan if you don't already know how it works. Fidelity Investments gives you a head start on what you need to know: Call your health insurance company The first step is to contact your health insurance company to verify whether your emergency medical coverage extends outside the U.S. Contact the customer service department and ask these kinds of questions: If I get sick or injured abroad, will my policy cover me? Does my insurance cover pre-existing … [Read more...]
State of Crisis: A Way Out for Illinois
The private sector has been using 401(k)s for years. Michigan has embraced the concept, and it would be a good idea for Illinois to follow. The Editors at Investor's Business Daily write: So what did Michigan do to avoid Illinois' fate? It embraced bold pension reforms that will protect taxpayers and provide a solid retirement benefit to teachers. First, it's shifting its public school teachers toward defined contribution plans. All new hires will be automatically enrolled in a 401(k)-type plan with a default 10% contribution rate. Teachers will still be able to opt for a traditional … [Read more...]
Where to Live to Save for Retirement. It’s Not Where You Think
I’ve spent some time lately discussing states with booming economies like South Carolina, and states that are near bankruptcy, like Illinois. Depending on a state’s fiscal strength, or lack thereof, your earnings could be targeted to fill the gaps. And some states have a cost of living so high, no matter what you’re making, it’s nearly impossible to save. Maximizing your savings early on is the most important thing you can do to jumpstart the power of compounding in your retirement portfolio. But many Americans aren’t making very much money until their peak earning years, from say 45 to 65. … [Read more...]
Lost 29 Years: This Japanese Comeback will Surprise You
What is old is new again in Japan. Next year Sony will begin doing something it hasn't done for 29 years. With incredible demand for vinyl records from consumers looking to recapture the excellent analog sounds of their youth, Sony will begin making its own vinyl records once again in Japan. As I wrote earlier this year, Becky and I love our vinyl record collection. And we're not the only ones. "2015 sales of $416 million were the highest since 1988. Stay tuned for 2016’s numbers." NPR's Bill Chappell writes that fans want the rich sound of vinyl, and they also love the liner notes and album … [Read more...]
Is America’s Best Air-to-Air Missile a Dud?
By now you have heard about how a US F/A-18E Super Hornet downed a Syrian Su-22 fighter jet on June 18th. The news spread around media outlets like wildfire as it was the first manned aircraft downed by the US since 1999. Once the smoke cleared we learned the Su-22 “Fitter”, a 30-year-old Cold War era jet, somehow managed to evade the US military’s most advanced short range air-to-air missile, the infrared guided AIM-9x Sidewinder missile designed to resist the allure of defensive flares. The Su-22 apparently used “dirty” flares to lure away the Sidewinder. Although the Syrian Su-22 jet … [Read more...]
This Critical Piece of the Grid is Vulnerable to Cyber Attack
Even before the the EMP Commission report, utilities have been trying to harden their infrastructure against the multitude of threats they face. EMP attacks, cyber threats, and even physical attacks like the one in Metcalf, California in 2014 are situations that power stations must prepare for. But at The National Interest, Constance Douris writes that power utilities have left a gaping hole in their defenses against cyber threats. Utilities operate the distribution part of the grid -- the final stage where electricity is delivered to customers. Currently, mandatory cybersecurity standards … [Read more...]
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