(click image to see the whole thing)
Highlights:
This may explain why every pro athlete seems to have their own foundation…
We all know by now how much the earthquake and ensuing tsunami in Japan have affected its economy and the foreign companies that depend on Japanese-made components for their products.
But something we hadn’t really thought enough about is how the disaster affects where Japanese people choose to spend their money. It seems obvious now, but Japanese tourism to Hawaii has dropped by a full 25% since March 11th. That’s a big deal for the Hawaiian tourism industry, which is now spending $3 million on “emergency marketing” to woo travelers from other nations.
See what happens when you put all your eggs in one basket? Diversity really is more than just a corporate buzzword. (Full disclosure: we hate the word “buzzword.”) In work, school, government, AND your investment portfolio, diversification can protect you from unpredictable events and their domino effects.
Fortunately, Hawaii still has plenty of appeal to pasty New Yorkers like ourselves, who are happy to contribute to the state’s critical tourism revenue stream.
Barring an unforeseen volcanic eruption, that is.
(photo credit: Evan Prodromou)
We all know that carbo-loading is essential for running a marathon (or staying up all night writing papers/ playing video games). So why expect lasting social change to run on a cookie here, a handful of peanuts there?
“45% of the population of rural India live in villages with no electricity.” So it was only a matter of time before capitalist do-gooders found an opportunity to profit from lighting up the countryside. Providing affordable clean energy solutions is potentially a $2 billion industry in India alone. And it’s not just the entrepreneurs who profit: locals suddenly have light to study and work by, cleaner air and water, and a new job market for selling and repairing solar lanterns and other green gadgets.
Sounds like a pretty neat social venture to us. What do you think?
When it comes to supporting causes you care about, are you more likely to fund emergency projects, like disease and hunger relief, or longer-term strategies for change, like electricity?
Capital is the stuff capitalism is made of. It usually refers to money, but it can be any kind of asset that’s used for economic purposes, like starting a business or investing.
Venture capital firms, for example, are in the business of providing capital (money) to start up companies to help them get going.
(AP Photo/Walt Disney Studios)
Congratulations – you’re witnessing history in the making! “Mars Needs Moms” – the 3-D animated Disney disaster that came out last weekend – has had one of the worst opening weekends… ever.
The film earned $6.8 million in its opening weekend… but it cost about $150 million to make. Most movies break even within a few weeks of release and then – ideally – start to turn a profit. Not so for this tribute to the power of moms. Though it brought in some revenue, it wasn’t enough to cover the cost of producing the flick.
Disney distribution president Chuck Viane says the problem is simple: “Not enough people came to see the movie.” (Um, duh.) One possible reason is that there were a lot of other animated movies in theaters this weekend, and Earth moms weren’t about to shell out $20 for 3D tickets to all of them.
So were the dismal box office numbers a product of poor timing or a cruel twist of fate?
Perhaps the movie’s budget directors should have taken Budgeting 101?
What’s up with 3-D movies anyway? Are you paying to see them? Tell us.
According to new research from Harvard Business School, most Americans have no idea how wealth is distributed in this country.
Here’s a handy chart from the study that pretty clearly illustrates how Americans think wealth is distributed, how they wish it was distributed, and how it’s actually distributed:
(click chart to download a pdf of the study)
Did you know that there was such a huge difference between the very top and the very bottom of the wealth scale?
There’s an interesting discussion on the New York Times about why this might be the case, why Americans underestimate income inequality, and whether we should even care.
Are you surprised? What would you have guessed?
(photo credit: Drew__)
If you’ve been in Europe recently, you’ve probably noticed all those extra digits in the price of “petrol.” In the U.S., we’re horrified at the idea of paying $4 a gallon for gas, but in Norway they’ve already blown past the equivalent of $9.
But… why? Is it harder to pump oil in to Norwegian gas stations? Is greater demand among the Norse driving prices up? Not even.
There are a few reasons, but according to Aaron Smith at CNN, it’s pretty much all about the government. Governments can either charge their citizens extra to buy gas (by taxing it) or the pay them to buy gas (by handing out subsidies, which lower the price per gallon).
Taxing gas is useful because the money pays for government programs. And handing out subsidies is useful if you want to keep your population happy. (You see this a lot in oil-producing nations like Saudi Arabia. It’s hard to be angry at the super-wealthy ruling elite when they’re basically paying for your gasoline.)
The moral of the story: Stuff is only worth what someone says it’s worth. $3 or $10, you still need it to make your Hummer go.
How much do you think you should pay to fill up your gas tank?
What do you do when your fancy degree gets you a job answering the phone and filing papers for someone else?
Amanda Pouchot and Kathryn Minshew from prettyyoungprofessional.com have some helpful advice.
(photo credit: Kei!)
When something really bad happens in the world, we all feel hurt. And helping each other out is one of the best ways to alleviate that pain. But that common sense advice about not shopping when you’re hungry and not investing when you’re anxious also applies to giving.
Saundra Schimmelpfennig at the Chronicle of Philanthropy shared some advice on how to give smart in an urgent time of need. She encourages “disaster philanthropists” to think carefully before pledging their money to an emotionally compelling cause.
Here are some of her points that we think are especially important:
Ready to make an impact? Text a friend and ask them to donate with you. With two researchers on the job, you can probably find a perfect organization – and double your donation in the process!
Japan 2011 © JIJI PRESS
Even when disasters happen in far-away places, you can still help. Donating money is a great place to start, but don’t stop there. Hosting a fundraiser is as easy as inviting some friends over for lunch or making a page on crowdrise.org.
And Alanna Shaikh says that volunteering in your hometown is a lot more valuable than you might think:
“There is a lot of work at aid agency headquarters that can be done by committed volunteers, and that work often has a huge impact. Everything that a volunteer does pushes down overhead costs and frees up money for the organization to spend on international relief.
I was an Oxfam American volunteer back in the day, and I helped transcribe field interviews for qualitative surveys, edit and format documents, and prepare press releases. It was interesting work, and it was part of what led me to the work I do now. At International Medical Corps, our volunteers drafted situation reports, answered correspondence, and did literature reviews, among other things.”
Check out DoSomething.org, idealist.org, or the website of your favorite aid organization to get some ideas.