WASHINGTON– A new report confirms the old saw: The rich are getting richer.
According to a report titled, "Striking it Richer: The Evolution of Top Incomes in the United States" by researchers at the University of California at Berkeley, "From 2009 to 2012, average real income per family grew modestly by 6.0 percent but the gains were very uneven. Top 1 percent incomes grew by 31.4 percent while bottom 99 percent incomes grew only by 0.4 percent."
The report continued: "Hence, the top 1 percent captured 95 percent of the income gains in the first two years of the recovery."
The most impressive feature of the new iPhone 5S may be its ability to turn your finger into a password.
Touch ID is Apple's name for a new fingerprint scanner that would act as a security tool for log-ins and for making purchases from iTunes and other Apple stores.
"Your fingerprint is one of the best passwords in the world," said Dan Riccio, a senior vice president for hardware design at Apple, in a promotional video. "It's always with you and no two are exactly alike."
Even though the possible need for long-term care is not something people enjoy thinking about, an estimated 70 percent of 65-year-olds will need this type of care at some point in their lives.
The average cost of a semi-private room in a nursing home was nearly $75,000 a year in 2012, and it's been projected that the annual cost could reach nearly $165,000 in 20 years due to inflation.
Some wealthy households can afford to pay for long-term care out of pocket. Many others with substantial financial assets might not be sure whether they have saved enough to meet their future needs. Thus, it may be wise to consider whether your financial resources would be adequate for a worst-case situation.
There are multiple options when it comes to how consumers like to watch their favorite programs or other video content. In corner number one we have TV. Believe it or not, TV is still the reigning champ for advertisers who want to reach audiences, with the ability to attract viewers across multiple demographics. The average U.S. consumer watches more than 156 hours of TV a month. As African-Americans, we watch an average of more than 190 hours a month on TV, more than any other group.
In corner number two, we have social media, which continues to pick up steam, proving to be a powerful contender with multi-platform advertising, and I am specifically referencing Facebook. Did you know that Facebook has more than 1 billion members around the globe? That's almost one-seventh of the world's population. And, because we love our social media, African Americans are more likely to visit social networking sites such as Facebook than other demographic groups. Chances are, you're a member of the Facebook family. By the way, how many Facebook friends do you have?
When moving forward in various businesses, often times there is a need for additional capital. Whether it is for the purpose of purchasing equipment, operating capital, or contract financing, most business can always use additional funding.
Unfortunately, many business owners wait until their backs are up against the wall in a desperate situation, which it is usually too late to ask for assistance. Most financing institutions want to know that you are stable and can repay the debt, not at the end of the road on the brink of bankruptcy unless you obtain more capital.
Where can you turn for assistance for loans?
Sue Malone, the SBA's number one volume-based loan provider and founder of "Strategies for Small Businesses" in San Francisco, CA, will facilitate a Small Business Loan Workshop at the Renaissance Business Center located at 555 Beale Street on Sept. 9.
Malone will discuss funding availability for startup businesses or expansion options for current businesses.
"Sue really has a niche for doing small business loans, particularly those for $25,000 and under," said Rory Thomas, executive director of the Tennessee Small Business Development Center (TSBDC) at Southwest Tennessee Community College.
How many people can say they earned their first million before being old enough to drive? Jaylen Bledsoe, 15, of Gazelwood, Mo., is among the lucky few.
The high school sophomore founded his own tech company, which specializes in web design and other IT services, Bledsoe Technologies, at the ripe age of 13 years old. In just over two years the tech titan managed to expand his small business – run by two people – into a global venture worth $3.5 million, employing 150 contracted workers.
Bledsoe credits a web design class, offered as apart of his school's gifted education program, as the foundation for his business idea. When he's not busy running a global technology company, you can find Bledsoe partaking in more typical high school roles such as being president of the Student Council and the Parent Teacher Student Association.