Synergy, besides being one of those infamous “corporate buzzwords,” is the combination of at least two things (for example companies or organizations) to produce a financial benefit that’s greater than the sum of its parts.
For example, by purchasing one company, another company might be able to generate more revenue than both companies would have been able to generate if they kept operating separately. (Think Graham Crackers Inc. and Melty Marshmallows LLC being acquired by Hershey’s.)
Sexism is discrimination against a person or persons on the basis of gender. Like racism, it can occur explicitly (violence against women, demeaning comments), unconsciously (unintentionally excluding female coworkers from after-work dinners and casual meetings), or institutionally.
A minimum wage is the absolute minimum amount of money that someone can be paid for a specified job. It was created to ensure that no one is unfairly compensated for their work. As of July 2009, the federal minimum wage is $7.25 per hour.
In the U.S., the minimum wage is regulated by the federal agency called the Department of Labor, but states have the flexibility to set their own higher (or in special cases, lower) minimum wage. There are also exceptions to who must receive the minimum wage. Waiters and other workers who regularly receive tips have a much lower minimum wage ($2.13/ hour). And sometimes employers can pay workers who are under 20 only $4.25 per hour for their first 90 days on the job.
Frank Murtha from MarketPsych returns with some insight about how that annoying habit from high school follows most people into their grown-up financial lives. If you’ve been jumping off bridges after your friends up until now, maybe this will convince you to stop:
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“The lesson here is most people are fundamentally good,” [Panera founder and Chairman Ronald] Shaich said. “People step up and they do the right thing.”
The “right thing,” in this case, is choosing to pay the full retail price (or more) for a bagel at one of Panera Bread’s pay-what-you-want restaurants. These locations are nonprofit, and “prices” are actually just suggested donations. Any money left over after paying the utility bills and workers’ salaries (i.e. overhead) goes to Panera’s charitable foundation.
This is genius for two reasons:
1. Amazing PR for Panera
2. Combining hunger and peer pressure to make people donate to your charity
Seems like it’s getting easier every day to spend money. Is this the new philanthropy? Are $10 text donations just the start? Anything that gets people to donate more money to good organizations is progress in our book.
You have to wonder, though. Is this kind of giving the way you really want to spend your donation dollars? Impulse giving is kind of like impulse shopping – it will probably make you feel good about yourself at the moment (especially if you just ate a delicious sandwich), but it doesn’t usually reflect who you are or where your values lie.
And it definitely goes against the sage advice to do your homework before you give someone your money.
(photo credit: BaronBrian)
Looks like wealthy Russians (and, yes, wealthy lunatics everywhere) are spending their nest eggs on underground apocalypse-proof nests. After all, the world is scheduled to be laid to waste on December 12, 2012. Or May 21, 2011. Depending on which irrefutable evidence you’re looking at.
But this seems like as good a time as ever to point out that basing your financial strategy on the ancient Mayan calendar is probably about as smart as trying to time the market. Base human emotions – fear, anxiety, and greed, for example – don’t mix well with financial transactions. (See Frank Murtha talk about it if you don’t believe us.)
Wait. Can you time the market?
Supply and demand is an economic model that determines prices in a competitive market. Generally speaking, supply refers to how much is available for sale, and demand refers to how much consumers want it. The selling price represents where supply and demand meet.
Earnings are the amount of money that a company makes over a certain period of time, usually after taxes. So if you have a painting business for the summer, your earnings for the summer would be the amount of money that you’re left with after paying your employees, buying all the materials, and paying taxes on your profit.
A management fee is the compensation that investment fund managers get in exchange for constantly trying to make a fund profitable. The money for management fees comes from investors, who pay into the management fee pot every time they invest in a fund.
The amount of the fee is determined in different ways. Sometimes it is a fixed rate and sometimes it is a percentage based on the manager’s investing success. Sometimes it’s both!