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Share to Twitter Share to Linkedin Billionaire Mark Cuban says President Trump is wrong to the think the economy can open up as early as May 1. And when it does open, it will take years to return to post-pandemic norms. “I wish he was right, but he’s not,” Cuban said in an interview on Sunday with Chris Wallace of FOX News Sunday. “People aren’t going to just venture outside. They're not going to go to large gatherings. They're not going to feel confident right off the bat. There’s going to be a lot of trepidation. And that concern is going to lead to people holding back on spending money,” he says. Some people are appalled by the rising stock market as unemployment explodes — over 16 million people have filed for unemployment in just 15 business days due to mandated government shutdowns of business. Retail, restaurants, travel, sports and entertainment have been particularly hard hit. “It speaks of a vast transfer of wealth orchestrated by the … [Read more...] about Mark Cuban Says Economy Will Never Be The Same Post-Pandemic

Share to Twitter Share to Linkedin Topline: As the coronavirus pandemic craters the world’s markets and disrupts the daily lives of millions, Norwegian Air said Thursday it would suspend around 4,000 flights and temporarily lay off up to 50% of its workers as businesses contend with sharp declines in revenue. 40% of Norwegian’s long haul fleet and 25% of its short haul fleet will be grounded until May, according to a press release. 50 employees from the South by Southwest music festival were let go after the 2020 event was canceled. Other layoffs include 145 drivers from the Port of Los Angeles as ships from China stopped arriving, the Washington Post reported . Travel agencies in Los Angeles as well as Atlanta, Georgia, have also laid off workers, as airlines suspend flights (and contend with President Trump’s new Europe travel ban), while a Seattle, Washington hotel chain shuttered an entire department, the Post reported. Christie … [Read more...] about Norwegian Air Axes Up To 50% Of Employees As Coronavirus Layoffs Begin

Share to Twitter Share to Linkedin TOPLINE As jobless claims surged last week to 22 million nationwide, nearly half of all states have reported double-digit percent losses to the cash reserves they use to pay unemployment claims, according to a new analysis by the Wall Street Journal , raising the possibility that states may need a federal bailout in order to help keep the unemployed afloat. KEY FACTS Nearly 50% of states including California, New York and Massachusetts have drained almost half of their total trust fund reserve in funding unemployment payments for those out-of-work due to the coronaviru pandemic, per WSJ . With unemployment rising week over week, states could run out of money and need loans from the federal government, say economists . While the federal stimulus package pays for an additional $600 per week for those who are out of work due to the crisis,, states still pay the pre-coronavirus unemployment rate to … [Read more...] about Report: States Are Rapidly Draining Their Unemployment Funds

Share to Twitter Share to Linkedin Today we look at Hunter Biden’s controversial art career and examine the Trump Organization’s recent job postings. This is the web edition of the free Checks & Imbalances newsletter, usually sent to inboxes on Fridays. You can subscribe here . Please support this work, if you can, by subscribing to Forbes . Hunter Biden’s Art Price Tag Is ‘Pretty Much Unheard Of’ Reporter Carlie Porterfield joins “Forbes Newsroom” to discuss the Hunter Biden art saga . Tip Me Any tips or suggestions? Email me at [email protected] or call/SMS/Signal 202.804.2744. Follow me on Mastodon at @[email protected] . Thanks! Senate Democrat Michael Bennet Asks Apple And Google To Ban TikTok From App Stores “Colorado Senator Michael Bennet (D) has called on Apple and Google to remove TikTok from their app stores , citing concerns that the app could share private American user data with … [Read more...] about Checks & Imbalances: Hunter Biden’s Art Price Tag Is ‘Pretty Much Unheard Of’

Share to Twitter Share to Linkedin I have been having silly arguments with Fair Tax enthusiasts. The Fair Tax Act of 2023 would be a tremendous simplification of federal taxation. It does not, however, reduce 70,000 pages to 131 and it does not entirely eliminate the Internal Revenue Code. Also it does not abolish the IRS. It renames parts of it and has $10 billion or so, currently spent by the IRS to be spent by numerous state revenue agencies instead. Over my forty year career I have not found state employees to be easier to deal with than federal employees, so I don't see what we would be gaining there. And while much simpler than the current system, there is still some complexity. That is what I would like to tell you about, because some of that complexity is worrisome. All section references are to the Internal Revenue Code of 2023 as specified by the Fair Tax Act of 2023. The Variable Rate Discussions of the sales tax proposed in the … [Read more...] about Fair Tax Act Of 2023 Has Rate That Varies

Share to Twitter Share to Linkedin If you need to replace your gas furnace or air conditioning, you now have a new opportunity to save big on your utility bills. If you can replace your old heating-cooling units with a heat pump, you can qualify for up to $8,000 on the spot in a federal credit. Although the credit is indexed to your income, it’s a major deal on something that will heat and cool your home in one unit. “These heating and cooling systems, once considered useful only in warmer climates, have in the past few years become far more sophisticated,” writes Robert Gebelhoff in The Washington Post . “They are now the best chance we have to phase out fossil fuels as a means of heating and could set the stage for a climate policy revolution.” “For every unit of electricity a heat pump uses,” Gebelhoff notes, “it can generate 2.5 to 5.5 units of heat, according to the International Renewable Energy Agency. In other words, heat pumps have an … [Read more...] about How A Heat Pump Can Deflate Your Utility Bills Big Time

Share to Twitter Share to Linkedin On Women’s Sports day, I reflected on the last 25 years where I have seen the struggle to promote gender equality in sports, seemingly to no avail. I recall representing Lisa Leslie, arguably the greatest WNBA player ever, and first women to dunk a basketball, in her footwear negotiations with Nike. Every year Nike would reduce the amount of money they were willing to pay her, despite her MVP status. The reasoning was that Nike discovered that male athletes were still driving the sales of the shoes anyway (girls looked up to the male athletes more because of the additional exposure and promotion that they received). When I asked for a “signature” shoe, Nike’s head of sports at the time, Ralph Green, told me: “girls don’t buy basketball shoes because of what WNBA players wear, they want to wear what Michael Jordan wears.” The reason is quite obvious: cultural bias. “Air” Jordan was flying through the air in Nike commercials … [Read more...] about Serena And WNBA Show Its Possible For Gender Equality In Sports

Wednesday marks the 16-year anniversary of “The Office” premiering on NBC. On March 24, 2005, the hit NBC show with Steve Carell as Michael Scott hit airwaves for the first time, and the rest is history. (REVIEW: ‘ Westworld ’ Season 3 Ends With The Possible Deaths Of Multiple Characters) The show went down as one of the greatest comedies ever made, and it withstood the test of time arguably better than any other TV show in history. It’s truly insane that “The Office” is already 16 years old. It feels like just yesterday that I was in high school and college watching episodes. After that, “The Office” was on Netflix for several years, and I’m not even kidding when I say I watched it nearly every single day. The cast of characters working at Dunder Mifflin was an ensemble unlike any we’d ever seen before and it might be better than any we ever see again. Even when Carell left the show, “The Office” still went on for a couple more seasons, and the … [Read more...] about Wednesday Is The 16-Year Anniversary Of ‘The Office’ Premiering On NBC

Climate warriors are the unsung heroes of our times, and our country is blessed with certain relentless fighters for Mother Nature, who brave all odds to keep the environment clean and green. CNN-News18, India’s No.1 English General News channel, recognizes and salutes the spirit of such climate warriors with the 12th edition of its flagship initiative CNN-News 18 Indian of the Year (IOTY) 2022. To be held on 12 October, the awards ceremony will felicitate the achievements of those Indians who, through their grit and determination, have brought pride to the country. The marquee property felicitates personalities across the categories of politics, sports, social change, entertainment, start-ups, and climate warrior. In a post-pandemic world where climate change is emerging as a major concern, the category of climate warrior is a new addition to recognise individuals who are working on impactful and sustainable change. The nominees in the climate warrior category consist of … [Read more...] about CNN-News18 Indian of the Year (IOTY) 2022 to recognize climate warriors from India determined to save our planet

Share to Twitter Share to Linkedin Key takeaways Boeing lost $1.75 per share, with analysts expecting earnings of $0.26 per share The airliner is still recovering from the pandemic and the grounding of the 787 Max The company expects short-term turbulence with its stock, but the long-term outlook is smoother Boeing is one of the largest aerospace companies in the world and a popular investment option for both retail and institutional investors. It's been in business for over a century, making it an essential part of the economy nationally and globally. However, the company has had its share of issues in the last few years, and the stock has paid the price. With the recent announcement of fourth-quarter earnings, is now the time to buy shares of Boeing? Here is what investors need to know, and how Q.ai can help investors navigate the markets amid earnings reports. Boeing in the news Boeing posted a $650 million operating loss in Q4 … [Read more...] about Boeing Stock Nosedives Then Recovers After Missing Earnings, EPS – And Their Long Road Of Struggles Isn’t Over Yet