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In the beginning of 2020, when the pandemic first hit and businesses started to realize its economic implications, guess which jobs were some of the first on the chopping block? advertisement advertisement If you guessed jobs in Diversity, Equity and Inclusion (DEI), you’re absolutely right. In the frenzy of response strategies and emergency planning, many businesses determined that these positions were expendable . That was partly due to a business rationale – Diversity positions are not exactly responsible for supply chains or sales – but it was also the product of 50+ years of corporate America diminishing and disregarding the role DEI plays. It was therefore an ugly irony when the murder of George Floyd in May 2020 prompted so many of those corporations to rethink their position. Suddenly, corporate leaders were terrified about how to respond to their employees. Movements like Black Lives Matter took center stage and encouraged us all to question … [Read more...] about This is what companies get wrong when hiring a Chief Diversity Officer

Share to Twitter Share to Linkedin Tesl TSLA a is at the center of another controversy. Its newest factories are burning through mountains of cash. Investors are worried about bankruptcy. Bloomberg reported on Thursday that Elon Musk said the Berlin and Austin factories are money furnaces. The headline amped up fear, uncertainty and doubt about the automaker. Shares slipped. Shareholders should beware. FUD works. In fairness, Musk was simply being honest. New factories blaze through capital as they scale up production. Equipment costs can be monumental, especially during an innovation cycle. New employee training, stockpiling components from suppliers, and ongoing construction costs add up too. These cash outlays are stacked up against limited production runs to work out the bugs. The factories in Berlin, Germany and Austin, Texas represent the evolution of the wildly successful “Giga” Shanghai facility, opened in 2019. That Chinese plant … [Read more...] about Tesla Factories Actually Burn Through Skepticism

Bloomberg filepix for illustration purpose only - A + A (June 29): Malaysia’s economy is cranking up after the pandemic. Land borders with Singapore have reopened, bringing in millions of visitors. Kuala Lumpur’s notorious traffic jams are back and shoppers are flocking to malls. The revival also has a rich irony: So many workers have left for better-paid jobs in the country’s wealthy southern neighbour that businesses are struggling to meet demand. From tourism to agriculture, an absence of staff is constraining the recovery. It’s also adding to deeper strains in an upper middle-income economy that was once a model for the developing world but has since suffered from a long-term slowdown in growth — one that started well before Covid-19. To graduate to the next tier of prosperous economies, Malaysia must staunch the flow of talented citizens abroad. The nation’s ambition is to escape a middle income trap, where it is less affluent than Singapore, but doing … [Read more...] about Malaysia’s top talent is fleeing to Singapore: Daniel Moss

The body of Japanese porn star Rina Arano was reportedly found in Hitachiota, Ibaraki Prefecture, in mid-June, naked and tied to a tree. The 23-year-old was reported missing by family in early June after Arano did not contact them for three days, The Sun reported . Police began searching for her June 8, and found her partly-decomposed remains on June 14, according to the outlet. Arano reportedly met with freelance nude modeling clients at their residences, charging around $1,000 per shoot. Fans of Arano’s identified her after law enforcement released a description of her body, The Sun reported. “Rina Arano was tied to a tree without clothes and has been dead for almost two weeks. We are still trying to determine the cause of death,” police said in a statement, according to The Sun. “The man she was with was already questioned.” Andy Vermaut shares:Missing 23-year-old woman’s body found in Ibaraki forest: The woman, identified as Rina Arano, a resident of Tokyo’s Bunkyo … [Read more...] about Remains Of Japanese Porn Star Discovered In Horrific Suspected Murder

The Supreme Court is expected to issue a ruling this month that could curtail the Biden administration's efforts to rein in greenhouse gases, and its impact could weaken the federal government's power to oversee wide swaths of American life well beyond climate change. The upcoming decision on the Environmental Protection Agency's (EPA) climate oversight in a case officially known as West Virginia v. The Environmental Protection Agency, could provide conservative justices on the nation's highest court an opportunity to undermine federal regulations on a number of issues, ranging from limiting greenhouse emissions, drug pricing, financial regulations and net neutrality. At the root of the case, critics of federal government oversight, including 27 Republican state Attorneys Generals and critics of the EPA, who say that it is "unlawful for federal agencies under the president's supervision to make major decisions about industry regulations without clear authorization from Congress." … [Read more...] about Sustainable Investing From The Advisor’s Perspective

Earlier this year, an Arizona woman whom we’ll call Kelly was completing the paperwork required to get facial feminization surgery. She was diagnosed with gender dysphoria in her teens, and after years of struggling with depression, she decided as a 20-something to transition. Then reality hit fast: The process is expensive, lengthy, and rarely covered by insurance. “So I did what lots of trans people do,” she tells Fast Company . “I got a job at Starbucks.” advertisement advertisement Starbucks has covered some types of gender-reassignment surgery since 2012. But in a radical move in 2018, it worked with the World Professional Association for Transgender Health to unveil a supplemental insurance plan that added coverage of procedures “previously considered cosmetic,” such as breast reduction, forehead contouring, calf implants, and hair transplants. With the requisite medical signoffs, Starbucks workers could get many of these procedures with zero … [Read more...] about Workers who joined Starbucks for transgender health benefits worry they are now at risk

Share to Twitter Share to Linkedin Hedge funds continued to show their worth in May, with those administered by Citco recording only a small drop even as the broader markets continued to plummet. Hedge fund performance improved slightly month over month, although not enough to shift the asset class into the green on a year-to-date basis. Hedge fund performance in May According to Citco's monthly report on hedge fund performance, the funds it administered recorded a total weighted average return of -1.1%, compared to the -2.9% return recorded in April . The firm said performance by strategy and size was again mixed. Unsurprisingly, commodity hedge funds continued to post robust returns due to high commodity prices, recording an average return of 1.1% for May, although they were flat on a median basis. However, global macro funds outperformed commodity funds slightly, recording a weighted average return of 1.2% and a median return of 0.7%. … [Read more...] about Hedge Funds Hold Fairly Steady Amid The May Market Turmoil

- A + A MADRID (June 29): World Bank chief economist Carmen Reinhart said she is skeptical that the U.S. and global economies can dodge a recession, given spiking inflation, sharp hikes in interest rates and slowing growth in China. Reinhart, who returns to Harvard University on July 1 after a two-year public service leave, said it was historically a tall order to reduce inflation and engineer a soft landing at the same time, and recession risks are clearly a "hot topic" at the moment. “What worries everybody is that all the risks are stacked on the downside," Reinhart told Reuters in a remote interview, citing a series of adverse shocks and moves by the Federal Reserve to raise interest rates after a decade and a half of ultra-low and negative rates. The global financial crisis of 2008-2009 affected mostly a dozen advanced economies and China at that time was a big engine of growth, but this crisis is far broader and China's growth is no longer in the double … [Read more...] about World Bank’s Reinhart ‘skeptical’ global recession can be avoided

Dana Peterson is an executive vice president and chief economist at The Conference Board. The opinions expressed in this commentary are her own. Aside from, "You're on mute," "I quit" has likely become one of the most popular sayings in the US over the last two years. But while more people are returning to in-person meetings, quitting does not appear to be letting up. Indeed, an astounding 4.4 million people quit their jobs in April, and there are 11.4 million jobs waiting to be filled, according to the Bureau of Labor Statistics (BLS) . So why are so many workers quitting? Here are four factors driving the so-called "Great Resignation" — and what businesses have been doing to stem the tide. Money Higher wages are among the many reasons that workers quit their jobs today. Just prior to the pandemic, the BLS' labor share of income — the percentage of economic output that goes to workers in the form of compensation — was just … [Read more...] about Opinion: Why so many workers are still quitting their jobs