Cheat Sheet Q & A:
Topic: Job prospects by state
Many times you have lists for things like the best state for business or the best region for conducting business etc. These are usually calculated by accounting for things like work force, taxation, cost of living etc. This makes sense to me but what doesn't make sense is the basis for my question. Why are all the worst business environments where the action is? Take
Bottom Line: What this really gets down to is the industry you work in. Generally speaking your odds of obtaining employment in
- Current unemployment rate nationwide: 7.5%
- Unemployment rate in
: 8.5% California
- Unemployment rate in
: 8.7% New Jersey
- Unemployment rate in
: 7.1% Florida
So generally speaking you do see that the states that have higher taxation and higher cost of doing business generally do also have higher unemployment rates. So why in your industry in particular have you found
ranks 47th in the best states for business currently (according to California CNBC’s annual report). But is #2 for technology development. So in most industries it’s harder to obtain good employment but in technology your odds are among the best anywhere Cali ranks 42nd for business yet the state’s population is the most educated in the country, so if a company needs access to highly educated individuals it’s potentially the most attractive New Jersey
Hopefully that’s helpful for the purpose of explaining why many companies stay in states that aren’t as “business friendly”.
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If your kids are normal and using social networks - they're lying:
Bottom Line: We’ve known that left to their own devices kids will take liberties with social media. One of the biggest areas of concern… Age. Age can determine the “friends” they connect with. The type of content and conversation that takes place. Who and what they’re likely to be exposed to, etc. So just how prevalent is lying about ones’ age using social media? Huge with minors.
The Advertising Standards Authority completed a study that showed that 83% of teens will lie about their age when using social media, almost always saying they’re older than they are – of course…
In today’s dangerous world it’s not good enough to write it off as kids being kids. Parents need to be parents and ensure that we know what’s really taking place with our kids when they use social media.
LA turns to e-learning in a big way:
Bottom Line: I’m a huge advocate of e-learning. Specifically use of tablet and e-readers to perpetuate education in and out of the classroom… Among the many benefits:
- Connecting with children in a way they want to connect with information
- No heavy text books to carry around
- The ability for teachers to sync all tablets to the same materials for all students at all times
- Easy to assign homework with calendar reminders for due dates and exams
To date smaller and often private schools have been the early adapters to e-learning but that’s changing.
The LA Unified School District has decided to make iPads standard for all students by the end of next year. With 640,000 students that will soon be equipped with iPads it will easily be the largest district yet that will have made the conversion. Now that LA has decided to move in this direction, it could provide an example that other districts may point to as a reason to consider the switch as well. In my view it’s just a matter of time and with education outcomes continuing to suffer in the
Doctors defecting from Medicare by the thousands – literally:
Bottom Line: You’ve likely heard that many doctors have chosen not to accept Medicare. The extent of the problem likely isn’t something you’ve had to consider unless you’re on Medicare and your doctor was one of those who opted out. That’s becoming a common reality.
The rate of doctors opting out of accepting Medicare has increased by a staggering 258% since 2009! According to the Centers for Medicare and Medicaid Services, 9539 doctors had opted out of Medicare by the end of 2012. An increase of greater than 30% over 2011. This is at a time when thousands of Boomers per day are entering the Medicare program. It’s super important to evaluate your doctors and options before your parents or you enter the Medicare program. You may find that you no longer have coverage for the physicians you currently see and would like to stay with. Not surprisingly the two key reasons cited for doctors opting out of Medicare… Reimbursement rates and increased regulation.
Econ 1.1 a
Bottom Line: We’ll soon receive the 2nd quarter
The first quarter turned out to be somewhat weak with a growth rate of just 1.8%. That will likely look decent compared to what my final projection suggests for the second quarter. I project economic growth for the second quarter at 1.1% my original number of 1.7% (that I released after the 1st quarter report) was revised down along with the negative revision to 1st quarter growth. The average estimate is 1.6% and hopefully they’re right because at 1% economic growth we’re at risk of a recession if the economy has even a small hiccup. So what does this mean?
- Housing is even more important. We’d be in negative territory if housing weren’t recovering
- July’s employment numbers are likely to be weak
- Income growth will likely be negligible
The better news is that I expect a slightly better finish to the year than what occurred in the second quarter, but that’s contingent on housing continuing to lead to way. Watch housing, if it continues in a positive direction we should at least be able to stave off recession risk. If housing falls down, we’d almost certainly find ourselves with a negative economy.
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I'm in my 19th year with iHeartMedia and 11th in South Florida. With my father as inspiration, I started investing in the stock market when I was 11 and co-founded a smoothie company at 18. The highlights of my radio career have been serving as a fill-in for Sean Hannity.
I've made my share of mistakes along the way as well. I shape my perspective from success and failure to provide you with a truly objective picture of business and money in your world. Business and investing are passions of mine. Some read Dean Koontz... I read financial reports.