Late last month, the governor of Puerto Rico, Alejandro García Padilla, announced that there was simply no realistic way for his country to pay off all of its $72 billion debt. “There is no other option… This is not politics, this is math,” Padilla told The New York Times. After Padilla’s announcement, Puerto Rico’s creditors immediately began looking for ways to recoup as much of the debt as possible. One of their solutions: having the country close schools and lay off teachers to save
For most employees, even the mention of a potential buyout can generate a great deal of stress and anxiety. That’s because in general, employees tend to get the short end of the stick when their company is sold off to some other corporation. Besides the possibility of losing their jobs during restructuring, employees almost never see a dime from the sale of their company, as this money is typically split between the company’s founders and equity-holders. Nevzat Aydin, founder and
When we think about what it means to be poor in America, we tend to focus on comparisons of annual household income. While this is certainly a useful benchmark to look at, it leaves out one of the most important measures of wealth: financial stability. There are roughly 48 million Americans living in poverty today, according to a recent report from the U.S. Census Bureau. Many of these people are forced to scratch together a living by working multiple part-time jobs. But the problem with part-time work is
For years, the global retail market has been dominated by the superstore powerhouse Wal-Mart. But with more and more people turning to the web for their shopping needs, Wal-Mart now has a serious competitor in the online retailer Amazon. That fact was punctuated last Thursday, when Amazon surprised investors (who were expecting a loss) by posting a 20% rise in sales for the second quarter of 2015. Amazon stock rose sharply in reaction to the positive sales report, increasing the company’s total market value to around $247 billion.