How health care law affects lives of 7 Americans
Posted: March 19, 2012 at 9:49 am
CHICAGO (AP) A father lost his job at a medical device company that is facing a new tax. A young woman got back on her parents' insurance and was able to get surgery for an injury that could have hobbled her. A part-time sales woman stopped putting off a colonoscopy and cancer screenings and saved nearly $3,000 because health plans now must pay for preventive care without co-pays. A business owner received a tax rebate for providing health coverage to her employees.
As the U.S. Supreme Court prepares to hear arguments on President Barack Obama's health care overhaul, The Associated Press spoke with a variety of people to hear their experiences so far with the landmark legislation, whose major provisions don't take effect until 2014. Reporters asked: How has the health care law affected your life?
Here are snapshots of seven Americans:
___
Name: Michael Esch
Home: Warwick, N.Y.
Age: 48
Occupation: Former middle manager for medical device company, now working as a hospital purchasing agent.
Insurance coverage: Paying out of his own pocket for COBRA insurance through his former company.
Esch, a father of three, lost his job in November in a layoff his employer said resulted from President Barack Obama's health care law. Medical device maker Stryker Corp. announced in November it intended to lay off 1,000 workers worldwide to save money ahead of a 2.3 percent tax on medical devices that starts in 2013.
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How health care law affects lives of 7 Americans
Retirement Reactions – Video
Posted: at 9:49 am
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Retirement Reactions - Video
Retirement Planner: Staying the course can pay dividends
Posted: at 9:49 am
What you see isn't always what you get.
I designed the "Mother of All Thumbwheels" that calculates Social Security benefits and the degree to which we will under- or overshoot our retirement income need. It also illustrates how much we will have in our retirement plans in 10, 20 and 30 years given different monthly contribution levels. It shows, for instance, that $500 a month for 10 years will accumulate to $91,000 if it earns 8 percent over that period. At 12 percent, the same $500 grows to $114,000. In 20 years, the comparable numbers are $294,000 and $494,000 respectively.
But, you may ask, who has been earning 12 percent when the total stock market, over the past five years, has had a compound average return of 2.11 percent per year? The answer would be anyone who just started investing exactly five years ago. Someone who started contributing in April 2007 has had an internal rate of return equal to 20 percent per year.
No way? Yes way. The share price of Vanguard's total market index today is exactly what it was in April 2007 -- $35 per share. Over the five-year span, however, the price has ranged from a low of $22 to a high of $38.
Anyone contributing $100 per month into a total stock market index fund was often buying shares in the mid-$20 range. A share bought for $22 could be sold today for $35, and that is a 59 percent profit. Believe me, a lot of shares over the past five years were bought at prices each month
Calculating the percentage profit we made on each monthly $100 investment and adding them all up brings us to a total account value of $10,272. Over the 60 months of investing, we contributed a total of $6,000. In simple terms, we can say that we had a five-year gain of $4,262 over what we put in, which is a 71 percent return. Divided by five years, it works out to be 14 percent per year.
But that's too simplistic. Remember that not all of the $6,000 was invested for five years. It built up gradually. Only the first $100 deposit was invested for all six years. The last deposit never got invested at all.
On average, then, we had $3,000 invested for the five-year period. Calculating on a napkin, we can see that our so-called "internal rate of return" or the return based on when the dollars were invested looks more like a $4,262 profit on a $3,000 five-year investment. That's a total gain of 141 percent which, when divided by five years works out to 28 percent per year.
When I do the same math on a calculator that takes compound interest into effect for each of the five years, the number works out to be 20 percent per year, but even this doesn't include the reinvested dividends of the total stock market that, during the same period, added almost 2 full percentage points to the gain, bringing the official number to 22 percent per year.
By now, I hope you are getting the point. If we stay the course during major crashes, our new inbound money will have enjoyed a huge rate of return by the time the market "snapback" has run its course.
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Retirement Planner: Staying the course can pay dividends
Retirement planning: Stocks rebound, not confidence
Posted: at 9:49 am
Retirement planning looks as daunting as ever, according to a new survey. Although the stock market has rebounded, only 14 percent of Americans, a historic low, are very confident their savings and retirement planning will be adequate.
A ruthless job market, suffocating household debt and a shocking decline in the stock market have left millions of Americans feeling fragile and with little confidence they will ever have the money toretire.
Retirementconfidence is at a historic low: Only 14 percent of Americans are very confident that they will be able toretirewith adequate money, according to research released Tuesday by the Employee Benefit Research Institute. About 60 percent of workers say their household savings and investments total less than $25,000.
EBRI has been surveyingretirementconfidence for 22 years, and the number hasn't improved since 2009. That's when about 17 percent of workers were unemployed or underemployed, and when a 57 percent decline in the stock market left workplace 401(k)retirementsavings accounts in ruins. Confidence hasn't snapped back despite improving employment numbers and a 110 percent climb in the stock market since the devastation of the 2008-2009 crash.
"We were quite shocked," said EBRI research director Jack VanDerhei. He had assumed people would be more optimistic after "a fairly decent rebound" in the stock market and economy in 2010.
On the other hand, behavioral research shows that sharp losses can leave people feeling vulnerable for years. Even teens who watch families struggle through recessions doubt their control over their careers, said Antonio Spilimbergo and Paola Giuliano in a National Bureau of Economic Research paper.
EBRI also found that many people don't trust their jobs or investments to provide the money they will need for retirement. Fewer than 3 in 10 are very confident that they will have paid employment for as long as they need it. And 42 percent identify job uncertainty as an immediate concern. Only 16 percent are very confident that their investments will grow, and a mere 8 percent of workers are very confident the economy will grow at least 3 percent a year for the next 10 years.
Debt continues its stranglehold on households. Almost two-thirds of workers consider their current level of debt to be a problem.
Under the pressures of the past few years, many have used up savings, and fewer people are stashing anything away. In the recent EBRI survey, 58 percent said either they or a spouse was saving money for retirement. That's significantly less than 2009, when 65 percent were saving.
"Workers are falling further behind, and they know it," said Mathew Greenwald of Mathew Greenwald & Associates, who worked on the study with EBRI. About 67 percent say they are "behind schedule" with saving.
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Retirement planning: Stocks rebound, not confidence
Dangerus Diva Sings Rihanna-‘You Da One’ (Live Performance Cover) Music Video – Video
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Dangerus Diva Sings Rihanna-'You Da One' (Live Performance Cover) Music Video - Video
Is 40 Hours a Week Enough to Truly be Successful? – Video
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Is 40 Hours a Week Enough to Truly be Successful? - Video
Is Sergio Martinez lacking that key to success?
Posted: at 9:48 am
by Paul Strauss: Its a hard argument to make. First of all, most of the credible boxing people rank him number three or four on the P4P list. He is recognized as the true lineal middle weight champion. Doesnt that mean he is a success? Well, as they say, everything is relative, and in his case what has been withheld from him is the big money fights, and the chance to be part of the big show. Why? Is it something he has done or not done that has kept him just short of being a mega star? Is he flawed or somehow unworthy?
Take a moment and have a little fun creating an ideal prize fighter. Now, you shouldnt limit him to just your own likes. Expand things and create someone who you know will reflect the proper image and have wide ranging appeal. A comic book hero if you like. Remember, were talking ideal now. Try this on for size. This person should be handsome, yet rugged, someone who will appeal to female enthusiasts. He should be David like in build and athletic ability. He should have incredible boxing skills, both offensively and defensively, as well as being very tough. He should be very fast, yet graceful and fluid. He should be intelligent and well spoken. He should also conduct himself with proper deportment, and avoid any hint of scandal. He should be willing to fight all comers. He should be gracious in victory and never complain when misfortune might occur..
Do you know anybody like that? Some of our most recent mega stars of the ring include names like Manny Pacquaio, Floyd Mayweather, Jr., Oscar De La Hoya, Roy Jones, Jr., Mike Tyson, and Sugar Ray Leonard. Do their attributes match up with our ideal? Not really. Theyre all flawed, but in each case they were so strong in some areas that they overcame weaknesses in other areas. And, the key is they had help. The best example is Tyson. Everyone knows about his fall from the championship throne. But, when he was in his prime, coming up the ladder, he was one of the most exciting fighters of all time because of his tremendous knockout power. . People knew he was going to destroy his opponents, but they still wanted to see it happened. It was like a perverted attraction to see an accident.
All those named made it to the big show multiple times, and actually increased the size of the stage. But, they all had flaws, and thats okay. Sometimes we like our heros flawed. For example, consider Dempseys popularity vs that of Gene Tunney. All those named were not the ideal either, but still enjoyed having huge followings. The key is they had outside help. They were media favorites. Marvin Hagler can tell you about not having it. He banged away in relative obscurity for a long time before the then Speaker of the House Tip ONeill helped him get his title shot. Without that help, he may never have got his shot. All fighters need help.
Sergio is as close to our ideal fighter as anyone out there. Understandably, he has a desire to get one or more of the big names into the ring, but so far has been unsuccessful. So far, he hasnt had much help from outside his own circles in doing so. Why? Isnt he deserving of such a fight? Say with Julio Cesar Chavez, or Felix Sturm, or Floyd Mayweather, Jr. We can understand why a particular fighter or his manager might not want him to jump into the ring with someone who has Sergios skill sets and difficult style. But, if the fighter is one of the best P4P fighters, and the recognized lineal champion of his division, why isnt the boxing media pushing for and demanding the fight or fights be made? Sergio has handled himself in exemplary fashion both in and out of the ring. Important to some and unimportant to others, he doesnt engage in trash talking, and as far as the public knows, he has avoided any problems outside of the ring. In fact, the opposite is true. He has taken steps to get himself involved in some very worthwhile causes.
It makes you wonder if the boxing media and cable networks truly are concerned with the welfare of the sport? It cant be that theyre worried about Sergio failing to make weight, or come up lame with some questionable injury? Sergio is always in great shape. Theres no danger of him tiring in the championship rounds. Just as our ideal fighter is, Sergio too is handsome, charismatic and articulate, which compliment his superior ring skills very nicely.
How then is it he hasnt got his just desserts? You have to admit, he sounds almost too good to be true. As our demonstration suggests, you cant conjure up a better ideal to promote and publicize in the sport. Promoters, the media and the cable networks should be drooling over such a fighter, such a superior individual. But, they are not?
Certainly people in the media and specifically the cable television networks are entitled to their opinions, and obviously have their favorites under contract. But, they also have an obligation to assist in trying to make the best fights, involving the most deserving fighters. Sergio qualifies as one of those fighters. He keeps winning and knocking people out, while coming away unscathed. But, still its not good enough. The hyperbole and forgiveness given to some fighters has not been extended to Sergio, not that he needs the latter. Frankly, it would appear the time has come for that to change. The media types in control should set aside their personal prejudices and selfish interests. They need to do whats right for a deserving fighter and for the good of the sport. Gentlemen, that means being proactive!
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Success Story: Kelly Hatton
Posted: at 9:48 am
Memphis City Schools art teacher Kelly Hatton has been physically active, particularly as a softball player, since she was a little girl.
Lesley Young Special to The Commercial Appeal
Kelly Hatton, 30, who says she has been physically active all her life, found a new and challenging workout regimen in kickboxing. "It's new and different. It really feels like a personal trainer sometimes," she said.
"I still play for my husband's business league," said Hatton, 30. "I've worked out all my life, it seems like."
With a wedding looming ahead last year and feeling like she had plateaued with her workouts, she decided to try something different.
"Kickboxing has really conditioned me," Hatton said. "It feels like personal training sometimes."
Hatton has her own pair of boxing gloves -- a Christmas present from her father -- and goes to the gym to hit the bag on her own.
Hatton also attends two classes a week with instructor Mark Akin, a nationally ranked competitor, at Envision Memphis Downtown.
"There are usually only three regulars, so it's a tight-knit group with a lot of individual training," she said.
Hatton says she doesn't lose weight easily.
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Success Story: Kelly Hatton
Tribal Group PLC – Contract Awards
Posted: at 9:47 am
Tribal Group (LSE: TRB.L - news) plc
International schools inspection contract with Abu Dhabi Education Council
and
Mathematics Professional Development Contract to take forward the National Centre for the Excellence in Teaching of Mathematics in the UK
Tribal, a leading provider of technology products and services to the education, learning and training markets, is pleased to announce that it has been awarded a contract by the Abu Dhabi Education Council ("ADEC") to inspect Government funded and private schools in the Emirate. The 3 year contract is expected to be worth up to 6m, and builds on the schools inspections Tribal undertook for ADEC during 2011.
In addition, the Department of Education has awarded Tribal the Mathematics Continuing Professional Development Contract. This builds on Tribal's original contract under which it has since 2006 operated an online personal development portal for over 50,000 mathematics teachers in the UK. Tribal will now continue to provide this service until 2015, with the potential for a further three years, under a new contract initially valued at approximately 5m.
Tribal's Chief Executive, Keith Evans, commented:
"We are pleased to continue our work in Abu Dhabi. This contract complements our school, college and nursery inspections activities on behalf of Ofsted in the UK, and confirms the value of our UK expertise and solutions to international markets.
"Our service which provides continuing professional development to teachers of mathematics through the National Centre for the Excellence in Teaching of Mathematics is an example of our expertise in personal development and e-portal management, which brings together our intellectual property in software, subject knowledge and education and learning more generally. We are delighted to continue to deliver this service for the Department of Education."
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Tribal Group PLC - Contract Awards
Grotech Ventures-backed Personal Inc. Closes $3.5 Million Share Offering – cbl
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More Topics: Choose a Sector Accounting Firms Advertising/Media/Communications Capital CEO/Board General Business Health/Biotech Internet/Technology Investment Firms Law Firms Mergers & Acquisitions Money Managers People Private Companies Public Companies Venture Capital
Posted March 18, 2012
By Bill Murphy WASHINGTON -- Personal Inc. has closed a $3.50 million mixed offering, raising the amount from 17 investors, according to an SEC filing.
Principals named in the filing by the Washington-based company are the following:
President and CEO R. Shane Green; COO Doug Wheeler; Executive Vice President Edin Saracevic; Chief Technology Officer Tarik Kurspahic; Vice President for Product Development Jennifer Devereux; Chief Policy Officer and General Counsel Josh Galper; and Chief Marketing Officer Henry Gaskins.
Also named in the filing were the following directors:
Don Rainey, of Vienna, Va.-based Grotech Ventures; Tige Savage, co-founder with Steve Case of Washington-based Revolution LLC; Eric Semler, of New York-based hedge fund TCS Capital.
Personal, founded in August of 2009 by Nokia Corp. alumni Green, Wheeler, Saracevic, Kurspahic and Devereux, is developing an online mobile platform for sharing digital information.
Reg D filing: http://tinyurl.com/86tmk4p
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Grotech Ventures-backed Personal Inc. Closes $3.5 Million Share Offering - cbl