The most recent issue of Businessweek contains an article about How The Mormon Church Makes Its Billions. There has been a backlash, mostly over the cover.
"The last European monopoly, in any area, is crumbling. This recently-opened transfer window has underscored, more than anything else, that it is no longer the European football clubs’ birthright to sign the greatest players in the world." -- Leander Schaerlaeckens on the growing clout of Chinese, Brazilian, and (WTF?) Indian soccer leagues in grabbing the top talent
"During the proceedings, the prosecutor took the time to mention that no other printer in the world could do what Kuhl had done."
Hans-Jurgen Kuhl was able to create "shockingly perfect" copies of the American $100 bill by using his artistic talents to conquer the various security features present in the bill.
How Money Makes People Act Less Human: Earlier this year, [Paul] Piff, who is 30, published a paper in the Proceedings of the National Academy of Sciences that made him semi-famous. Titled “Higher Social Class Predicts Increased Unethical Behavior,” it showed through quizzes, online games, questionnaires, in-lab manipulations, and field studies that living high on the socioeconomic ladder can, colloquially speaking, dehumanize people. It can make them less ethical, more selfish, more insular, and less compassionate than other people. It can make them more likely, as Piff demonstrated in one of his experiments, to take candy from a bowl of sweets designated for children. “While having money doesn’t necessarily make anybody anything,” Piff says, “the rich are way more likely to prioritize their own self-interests above the interests of other people. It makes them more likely to exhibit characteristics that we would stereotypically associate with, say, assholes.”
What's also obvious is that this phase of Occupy, with talk of credit unions and occupying the SEC, while eminently worthy, is also kind of boring, especially when compared to the thrill of Occupy's park phase. Some, though, are ready to move on. "It's easy to go back to the park occupation and fetishize it, in a way," says Occupy Chicago's Brian Bean. "I prefer not to run a mini-society – I want to run society." - The Battle For The Soul Of Occupy Wall Street - Rolling Stone - Mark Binelli.
For the past 4 days, up to 12 million NatWest / Royal Bank of Scotland customers have been unable to pay bills, move money or get paid due to a technical problem. Customers have been unable to complete on house purchases and some are stuck because they can't pay hotel bills abroad. The new mobile banking service has also been affected. The bank has called in 7,000 staff to open all weekend as problems persist.
Just three months ago, the State-controlled bank outsourced nearly 300 back-office roles to Hyderabad in India.
Just three months ago, the State-controlled bank outsourced nearly 300 back-office roles to Hyderabad in India.
In Praise of Leisure - "Imagine a world in which most people worked only 15 hours a week. They would be paid as much as, or even more than, they now are, because the fruits of their labor would be distributed more evenly across society. Leisure would occupy far more of their waking hours than work. It was exactly this prospect that John Maynard Keynes conjured up in a little essay published in 1930 called 'Economic Possibilities for Our Grandchildren.' Its thesis was simple. As technological progress made possible an increase in the output of goods per hour worked, people would have to work less and less to satisfy their needs, until in the end they would have to work hardly at all... He thought this condition might be reached in about 100 years — that is, by 2030." (via) [more inside]
"I can say with confidence that rich people don't create jobs, nor do businesses, large or small," said über-rich venture capitalist Nick Hanauer in a March 1st TEDx talk, which TED is refusing to put on its website. [more inside]
"A Harvard MBA Pays Down $101K Of Debt." Two years after he graduated from Harvard with an MBA, Joe Mihalic, now manager of strategic alliances and business development at Dell, vowed to do “everything in my power–short of lying, cheating, and stealing–to pay down" his student loan debt, (then totaling 90K,) "in the next ten months.” After applying for a weekend delivery job, he also decided to chronicle the steps he was taking on a blog: "No More Harvard Debt." First page of posts is here. Penultimate post explains his process: "Mission Accomplished." [more inside]
Canadian Tire Company coupons, thought of by some as an alternative Canadian currency, may be on the way out. [more inside]
"It's the dirty little secret of higher education," says Mr. Williams of the New Faculty Majority. "Many administrators are not aware of the whole extent of the problem. But all it takes is for somebody to run the numbers to see that their faculty is eligible for welfare assistance." [more inside]
I'm sick of pretending. I DON'T "GET" ART. Wherein Vice's Glen Coco goes to a Tracey Emin retrospective at London's Hayward Gallery ... and gives up. [more inside]
My Faith-Based Retirement. NYT business journalist Joe Nocera discusses being financially unable to retire.
A new initiative recently proposed by the Royal Canadian Mint proposes to create the MintChip, a digital currency that’s similar (to BitCoin), but is backed by the Canadian government. Aiming to become “the digital equivalent of the coins we use every day,” in the Canadian Mint’s own words, the MintChip will target micro- and nano-transactions conducted both online and offline, whether at the physical point of sale, on mobile devices, or among peers. Via
Sure, the follies of art-speak are easy to laugh at, but often criticism of it begins and ends with a dismissive chuckle – which ignores profounder problems. Why should academic terminology be the default vehicle for discussing art? Why is there such an emphasis on newness, schism and radicality? Even when the art itself may be enjoyably throwaway, language pins it to deathlessly auratic registers of exchange. This suggests a subliminal fear that, if the subject in question is not talked up as Big and Culturally Significant, then the point of fussing over it in the first place might be called into question, bringing the whole house of cards tumbling down - Dan Fox, the associate editor of frieze magazine, discusses the contemporary art scene in detail.
Napkin finance. Each sketch links to a post about investing. From a financial planner best known for losing his house.
5 years after a think tank study (PDF) recommended its retirement, Canada says goodbye to the penny. Previous penny pinching 1 2
John Carter, previously John Carter of Mars, previously A Princess of Mars, could be the biggest movie write-off of all time.
If you'd like to know a bit about medieval life in Europe, History on the Net has some information on life in medieval times, prepared as educational summaries for students. If you'd like to know more, Medieval Life And Times has a broader scope, and the surface links often have a number of subsequent links to even more information on sub-topics. If you want even more specifics, here is a list of medieval occupations, some information on buying, selling and bartering in medieval times, and a history of horses in Europe. [more inside]
"It’s a very ancient idea that the universe runs by the principles of the gift...in fact the purpose for our existence, the reason why we’re here, is to give." Writer Charles Eisenstein speaks on his book Sacred Economics: Money, Gift, and Society in the Age of Transition.
India tells Britain: We don't want your aid According to a leaked memo, the foreign minister, Nirupama Rao, proposed “not to avail [of] any further DFID [British] assistance with effect from 1st April 2011,” because of the “negative publicity of Indian poverty promoted by DFID”. But officials at DFID, Britain’s Department for International Development, told the Indians that cancelling the programme would cause “grave political embarrassment” to Britain, according to sources in Delhi. Further embarressment ensues. Emma Boon, campaign director of the TaxPayers’ Alliance, said: “It is incredible that ministers have defended the aid we send to India, insisting it is vital, when now we learn that even the Indian government doesn’t want it.”
New York Mag presents the balance sheets of an A-List actor for our perusal.
Sometimes state quarters know you only invited them because you thought they were San Francisco. (Previously.)
On November 22, 2011, TEDxBrussels held an all day event whose theme was: "A Day in the Deep Future." Speakers were asked to try and contemplate what life will be like for mankind in 50 years. Overview. [more inside]
Want your new law school to get accredited by the American Bar Association? Be prepared to jump through some hoops.
"They were new money, without a doubt: so new it shrieked. Their clothes looked as if they’d covered themselves in glue, then rolled around in hundred-dollar bills.” ~ Margaret Atwood
Note Worthy: [guardian.co.uk] Global economic meltdown, the euro crisis and Occupy protests – this year has been dominated by financial issues. But what is money anyway? We invited writers and artists including Jonathan Franzen, Margaret Atwood and Naomi Klein to invent new currencies and banknotes for a changed world.
The United States Secret Service is warning about an old scam that's recently popped up again in New England: black money. [more inside]
People in Korea now have a new vocation available to them: snitching on other civilians for cash payouts from the government.
Glengarry Glen Ross endures mainly as a spectacular display of verbal warfare and alpha-male gamesmanship. There’s a musical quality to it, with a great composer and a great chorus hitting the complicated runs of broken dialogue and solos that weave into profane poetry and nuggets of philosophical wisdom. Perhaps the greatest sign of the movie’s success, owed equally to Mamet’s script and this cast, is that it does a great sales job in itself, convincing us that there’s nobility to men who lie for a living — a bill of goods we’re all too happy to buy. [more inside]
Blind Man vs. Paper Money - the Blind Film Critic demonstrates the problems of using (American) paper money. Unsurprisingly, just getting cash out of an ATM poses its own problem. [more inside]
Food Fight: Does Healthy Food Have to Be More Expensive? In which the blog Get Rich Slowly chronicles an argument about nutrition vs cost and then invites readers to chime in.
Dorothy Gambrell of Cat And Girl fame spends an awful lot of time talking about education, class, debt, money, and the hollow promise of aspirational media to discuss how much she hates Good Will Hunting
Byliner and The Atavist might be heralding a change in how and how much longform article authors are paid.
Chext is a site that enables the user to enter transactions and track their bank balance via SMS. People sharing a bank account can also get updates when money is spent from the account by the other person. [more inside]
Start a home business, get rich quick, win financial freedom! If you watch late-night TV, you've heard it all before. But what's the story behind these slick pitchmen and their dubious schemes? Enter The Salty Droid, your ornery metal guide to the corrupt underworld of scam-marketing scum. This charmingly acerbic bot (owned and operated by mild-mannered Chicago dog-lover Jason Michael Jones [inter-view, long talk + transcript]) is a valiant crusader against the vile con-men who bankrupt the elderly and the desperate with beautiful lies. Exposed so far: A shadowy "Syndicate" of frauduct-pushing personality cults polluting the media with blogspam and woo-woo talking points. Boiler rooms in the Utah desert where telemarketers farm credit from easy targets with cunning, probing scripts [PDF]. Powerful politicians bought wholesale. Believers left to die in fraudulent new-age vision quests. It's a soul-crushing beat, enough to make one feel like a regular catcher-bot in the digital rye. But somebody's got to do it -- preferably someone with plasma nunchucks and titanium skin.
Since their release in 1978, hit albums like Bruce Springsteen’s “Darkness on the Edge of Town,” Billy Joel’s “52nd Street,” the Doobie Brothers’ “Minute by Minute,” Kenny Rogers’s “Gambler” and Funkadelic’s “One Nation Under a Groove” have generated tens of millions of dollars for record companies. But thanks to a little-noted provision in United States copyright law, those artists — and thousands more — now have the right to reclaim ownership of their recordings, potentially leaving the labels out in the cold.
In an investment manager's view on the top 1% - referring to the richest Americans by wealth and income - we learn that one needs $1.2 million in net worth to barely slip in the door of the top 1%. But that's just a start: the real power and influence in the U.S., the author argues, resides in the top 0.1%. You can guess who you'll find there: bankers and large-cap CEOs. Relevant quotes include... [more inside]
Pop-Cultured Currency - Technically, defacing US currency is a crime – but artist James Charles doesn’t seem to be in any legal trouble for his awesome series of Pop Culture Cash. His portraits, created on real money using ink, turn dead presidents into colorfully amusing pop culture icons. Alternate site with larger pics.
John Hyduk, a middle aged blue collar worker in Cleveland, writes about his daily existence.