Tag Archives: money

"Black Folks Need Legacy"

I’m not sure why there is so much talk out there about African Americans and money. Maybe it’s because our economy is in the dumps right now. Maybe it’s because we ought to be focused on how we can pull ourselves out of the dumps. Anyway, here’s another article, this time about a couple of older African American brothers (literal not figurative) who run a $1 billion corporation with holdings in real estate, retail, and hotels.  The link says, “black.donald.trumps.”  I shudder in pity.

Here is a good quote:

Posted in Asian American, Strategy | Tagged , , , | 17 Comments

Starting a business when young

Ephren Taylor, in the CNN video above, talks about starting a business. He started his first business at 12, became a millionaire at 17, and is now the youngest African American CEO of a publicly traded company. He’s written a book called, “Creating Success from the Inside Out.”

I like what he says about starting a business.  He says that college is the best time to do it, when you have no kids, no mortgage, tons of friends around you, and lots of expert professors.  He says that when you’re young, everyone wants to help you.  Man, he should’ve told me this fifteen years ago (when I was eighteen, and he was 11…oh wait, that was before he started his first business!)!

Posted in Strategy | Tagged , , | 4 Comments

Families and their money

family-money-management

(pic from here)

The NY Times had a great Motherlode blog post here: When a Mother Ruins a Son’s Credit Score.  It’s about a mother who persuaded her son to open a credit card while he was in college.  She told him it was a joint account, but it was actually his application with her as an authorized user, and she charged it up and stuck him with the debt.  Read both the post and the comments–they’re very interesting.  Some of the commenters have stories about parents opening utility bills in their kids’ names.  It’s incredible what some parents will do to their kids.

Posted in Knowledge, parenting | Tagged , | 2 Comments

Chinese guy pays $2.11 million for lunch with Warren Buffett

Zhao Danyang

Zhao Danyang

Zhao Danyang, a hedge fund manager in Hong Kong, paid $2.11 million for a lunch with Warren Buffett.  For that big price tag, he got to bring seven of his close friends and family.  It’s all for a good cause–proceeds go to the Glide Foundation, which benefits homeless and poor people in San Francisco.  But $2.11 million?  I’m glad someone is doing well in this economy.  Evidently, Zhao really is: his fund has had a 600% return over six years, which is much better than what my portfolio has done in the same period.  Hell, that’s better than what Buffett’s portfolio has done.

Posted in Uncategorized | Tagged , | 4 Comments

American Idol Losing Viewers but Making More Money

 11idolgraphic_large

I never understood the appeal of American Idol, and I still don’t. Why do people like watching other people sing and get criticized for it?  It makes no sense to me. With Survivor, at least there are athletic and politicking competitions. With the Amazing Race, you get to see the world.  With Idol, you get to see people singing unoriginal songs, you get to hear them sing off-key, and you get to hear nasty people criticize them.  Where is the joy in that?

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Um…okay…that makes sense

artrandgiAccording to CNN.com, the works of Ayn Rand are experiencing a resurgence in the wake of our financial crisis.  Rand was a proponent of free markets, a believer in individualism, and someone who extolled the virtues of selfishness. People have begun to start re-examining her ideas:

“If only ‘Atlas’ were required reading for every member of Congress and political appointee in the Obama administration. I’m confident that we’d get out of the current financial mess a lot faster,” Wall Street Journal columnist Stephen Moore wrote in early January.

Posted in Politics, Uncategorized | Tagged , , | 53 Comments

They never asked me

The NY Times had a short article today about a teacher from a financially stressed school who brokered a deal with a pizza place.  The high school teacher Jeb Harrison brokered a deal that allowed a local pizza restaurant to put ads on the bottom of every page for buying 10,000 sheets of paper for $315.  Kids studying their assignments now have to see pizza ads in order to pay for their education.  

“I taught my kids a good lesson,” Mr. Harrison said. “I saved my school some money, and I helped out a local business.”

Posted in Education | Tagged | 2 Comments

Deep Pockets and Asian American Culture

bribery

(image from here)

The NY Times had a great editorial about Bernard Madoff and the allure of money: If Looks Could Steal.  In the editorial, Daphne Merkin, sister of a Madoff investor, talks about how we as a society respect money and how money seems to validate everything that a rich person says.  She brings up an example of a dinner with George Soros, and she describes it thus:

Posted in Activism, books, Writing | Tagged , , , , | 2 Comments

Tech Business News

Intel and Microsoft are cutting jobs after their financials came out worse than expected.  AMD, according to the Intel article, is planning to cut 9% of its workforce.  Apple, however, beat analysts expectations and posted a net income gain of almost 2% compared with last year.  Apple’s rise, however, may be short-lived, since Steve Jobs is having health issues.

This hits very close to home since Intel has several major plants in the Portland area, and Microsoft is only three hours away in Redmond, WA.  Portland’s unemployment rate is already over 9%, and this closure is only going to make things worse.

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Words N' Sales

We’ve got lots of writers on bigWOWO, and the big question for those who follow the publishing industry is this: where’s the money?  I’ve blogged about it here and here, and now I’m going to blog on it again. This time, we’re going to talk about the distribution methods.

Regular everyday people who sell their used books online, through Amazon and other channels, are transforming the industry, according to this new NY Times article.  Apparently their actions are wreaking havoc on publishers and writers.  Instead of buying new books, people are buying used books from other individuals.  More used books equal fewer new books which means less money for publishers and writers.

Posted in Writing | Tagged , , | 12 Comments