McDonald’s Fires Its CEO Over Inappropriate Relationship

Written by adminNovember 5, 2019
Business

In what is being considered a swift move for the fast food mega-giant, McDonald’s has fired their CEO Steve Easterbrook. Easterbrook was brought on as CEO in 2015. The reason for his untimely firing was due to a consensual relationship with an employee. Still, that’s a no-no in the company. It was ultimately the board who decided it was time to go.

The change was so sudden that investors didn’t know what to do. Easterbrook had done a good job in the position otherwise. He took over in 2015 when sales and stocks were slumping. But, in a few years with him at the helm, sales improved and stocks more than doubled. As of this latest announcement, stocks were down 3%.

Not all is lost for McDonald’s. Chris Kempczinski was elected the next CEO. He was seen as the heir apparent anyway. Kempczinski has been credited for helping to make a lot of the decisions that helped turn the company around. One of those was using fresh quarter pounder meat instead of frozen. Still, leadership changes often bring a lot of uncertainty. You never know the type of leadership they’ll provide.

“Chris Kempczinski is such an unknown factor,” Hottovy said. “Any time you have an abrupt leadership change and an unknown quantity …. it is going to make investors uneasy.” He’s going to have his own vision that may be different from Easterbrook’s.

McDonald’s Aggressive Growth Strategy

Yet, one of the biggest questions regarding this change is how Kempczinski will continue to pursue the Velocity Growth Plan. This plan is very aggressive and Kempczinski has been known to be tough on the franchisees. They haven’t been as progressive on all the advancements corporate is proposing. He wants them to update store designs and the technology in their restaurants.

“There’s been some friction with Chris,” said Hottovy. “He had a reputation for being hard on the franchisees, at times.” The company has a lot of working parts. In fact, the company is seen as a three-legged stool. The legs represent employees, suppliers, and franchisees. Without all the working parts together, the stool wobbles.

“Mr. Kempczinski’s legacy will hinge on his ability to generate traffic growth in the US, which neither of his two predecessors were able to achieve,” Saleh wrote in a note on Monday.

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WWE’s Crown Jewel Event in Saudi Arabia Causes Controversy and Chaos

Written by adminNovember 5, 2019
Entertainment

If you’re a fan of the WWE (World Wrestling Entertainment), then you know they just finished up their Crown Jewel event in Saudi Arabia. The company has an 8-year deal with the country to hold two live events each year. While this deal is profitable for both sides, it’s not without regular controversy. This time around, there was plenty of chaos for everyone.

First, the controversy. Many WWE fans know the company prides itself on its women’s division. They changed the division from bra and panties matches and DIVA championships to really allowing the women to change the industry. They became just as important as the men to their shows. This might be why many of the wrestlers hate wrestling in Saudi Arabia.

The country, for the most part, has banned women wrestlers from their country. Saudi Arabia is a highly conservative country compared to U.S. standards. At this particular show, history was made and a single women’s match was allowed. Yet, that’s not where the controversy ends. The Saudi Crown Prince, Mohammed bin Salman, didn’t pay the WWE for their broadcast.

The country owed the WWE $60 million according to reports. The WWE decided to yank the show right in the middle of the broadcast. To retaliate, Salman detained 175 wrestlers set to fly home for a live Smackdown show the next night. The WWE had to scramble to find extra talent for their live event.

WWE Inks New Deal with Saudi Arabia

After the delay, WWE’s stock was hit with a 5% loss. The trouble with Saudi Arabia wasn’t a good look for investors. It wasn’t long afterward that the payment was made and the two sides came to a new agreement. The country will see new live events, effectively expanding their original agreement. This sent WWE’s stock jumping 6.3%.

It now seems as if we will see the WWE competing in Saudi Arabia for many more years to come. Hopefully they will continue to turn a corner and allow more women’s matches.

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Do You Have Too Much Debt? Here’s 5 Ways to Find Out

Written by adminNovember 5, 2019
Credit & Debt

Most Americans have one form of debt or another. Credit cards, loans, mortgages, they can all add up. We want the nice things, from brand new cars to wearing nice clothes. We even enjoy going out with friends and family. What happens if we cannot afford these things on our own? We take out debt to pay for it.

Eventually, it can become too much for us. Do you know when is the right time to stop pulling out the plastic? It can take some honesty and discipline to realize you might have gotten over your head. Take a look at these 5 ways you can realize you have too much debt.

1) You Can Only Afford the Minimum Debt Payment

If you use credit cards or a loan, you are expected to make monthly payments. These are the minimum payments. The thing is, you’re not meant to max out your credit cards every month. This is especially true if you want to build your credit. You make a few smaller purchases and pay the debt in full. That way you avoid expensive interest tacked on. Maxing out your cards and paying a little at a time will only hurt you in the long run. Why have credit cards if you’re going to pay so much more money to have them?

2) You Keep Getting Denied

Let’s face it, you’ve become a risk. At one point, you were able to get credit cards and loans. Now, no one will touch you. That’s because you’ve taken out a lot of debt and aren’t trying to pay it back. One big thing lenders look at is your credit utilization rate. This is the ratio between the debt you have to the amount of credit you can use.

3) You Worry A Lot About Your Debt

This is one big sign you’re in over your head. When you’re laying awake at night, worried about your debt, it’s become a problem. You shouldn’t be losing sleep over whether you’ll be able to make your payments. Also, are you fighting more about money with your spouse? This is another big sign that you’re in deep.

4) You’re Not Being Honest About How Much You Owe

Let’s face it, you’re ashamed of how much debt you have. That can translate into you not being honest about how much you have. Many people lie to people they’re dating, friends, family members, and more. Yes, it’s probably not their business, but consider that lie as a sign that you’re not doing as well as you’re saying you are. It might be time to fix it.

5) The Offers Stop Coming in the Mail

When you’re in good standing, the offers will come routinely in the mail. If they stop coming, then you’re not really eligible anymore. Simply put, they don’t want you to be a customer any longer. That should be a wakeup call that it’s time to get your debt and finances in order.

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Seth Meyers Asks Netflix to Allow Users to ‘Skip’ Trump Jokes in New Special

Written by adminNovember 4, 2019
Politics

Comedians making fun of the president is no new thing. We love the right to free speech and being able to make fun of any leader goes along with that territory. In some countries, it’s illegal and even punishable by death. It’s almost even a tradition. You can look at any season of SNL and you are guaranteed to find jokes at the expense of every president.

The same is true for Seth Meyers. He recently put on a show for Netflix called “Lobby Baby.” As many other comedians have, Meyers admits to a part of the show devoted to making fun of President Trump. In fact, Trump is quite often a punchline during his NBC show “Late Night.” This time around, Meyers has a different idea.

He has asked Netflix to allow users to skip the Trump jokes. It’s not that he cares much about Trump, but rather the current climate. In his mind, he feels as if we’re so burned out on politics. No comic can seem to resist the urge to bash the president for one reason or another. Many feel it’s their constitutional duty.

While that’s well within their rights, there is certainly a lot of burnout. Trump is in the news every single day. That’s all the pundits talk about. Trump this, impeachment that. He’s everywhere and people are just plum exhausted talking about him and politics in general. Many people want to be able to relax without it being brought up.

Netflix Allowing Users to Skip the Trump Jokes

If you enjoy a good punchline about the president, then you can certainly watch without interruption. But if you’re sick of the jokes, Meyers asked Netflix to do something about it. It will work a lot like the “skip intro” button that often appears. If you don’t want to watch the same, repetitive introduction to a show, you have the option to skip it. Same would be true here.

“It dawned on me that because it was on Netflix, there would be this opportunity to put in technology that would allow people to skip it,” he said. “It was a way to build in the response to anyone who would say, ‘Oh, let me guess there’s going to be jokes about the President.'”

Netflix’s direction of comedy programming, Robbie Pray, said he’s happy Meyers was able to think of this idea. It’s all about providing an experience for every fan, whether they like political jokes or not. “We’re thrilled he was able to take advantage of the Netflix experience in such a funny and innovative way,” said Pray.

In the end, Meyers says the “skip” idea is another joke in the show. He doesn’t think anyone who watches it will actually skip the jokes.

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Terminator: Dark Fate Bombs, Potentially Loses Studio $120 Million

Written by adminNovember 4, 2019
Entertainment

It hasn’t been a good few weeks for Paramount. First, Will Smith’s movie “Gemini Men” fails to draw interest. Now, the latest in the Terminator series draws a scant $28 million. Despite good ratings and a 69% Rotten Tomato score, the movie failed to draw attention to moviegoers. There may be a few reasons for this.

Perhaps, being Halloween weekend, it wasn’t a good time to go to the movies. Another reason might be that “Joker” is still fairly dominate. Terminator did take the #1 spot, but “Joker” was a close second after leading the way since its opening. This shows that if such a dismal opening can take the #1 spot, then not many people planned on going to the movies.

“Maleficent: Mistress of Evil”, “Harriet”, and “The Adams Family” rounded out the top five for the weekend. All of these movies are below average for their expectations. It just wasn’t a good week for the box office as a whole. Netflix might’ve had something to do with that. With the calendar switching over to November, there were several new shows and movies added to their catalog.

Terminator Keeps Cranking Them Out

Terminator has had several sequel releases since the original two featuring Arnold Schwarzenegger and Linda Hamilton. James Cameron also was involved in those first two. Terminator: Dark Fate was the first time they’ve reunited since 1991. Both Hamilton and Schwarzenegger reprised their roles of Sarah Connor and the T-800 Terminator.

In this day and age, it seems as if Hollywood is out of ideas. Rather than creating fresh ideas, they seem stuck in a pattern. This pattern is bringing back 80’s and 90’s icons and throwing a ton of cash at them. It cost Paramount $185 million to make this movie. If it slinks away and fails, the studio could record a $120 million loss.

There still may be hope for this movie. Again, it did get good ratings. Better than other previous sequels other than Terminator 2: Judgement Day. By reuniting all the people who made the first two movies great, this one has a shot. It was most likely just a bad weekend for going out and spending money. With no other major releases upcoming for several weeks, who knows. It can recoup at least some of the loss and might even turn a profit.

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3 Hidden Ways Your Credit Card May Be Costing You

Written by adminNovember 4, 2019
Credit & Debt

We all have a credit card (or several) for a variety of reasons. The main one usually is that it’s convenient to put something on plastic. Then, you can pay for it later or in monthly installments. It can make life easier. Yet, in a lot of ways, it can make things more difficult and expensive. It’s a ‘out of sight, out of mind’ sort of situation. This is how so many people find themselves in debt.

They can make purchases on their credit card and not spend a dollar of their own money. When the statement comes, you’ve purchased things you don’t even remember buying. You might find you ate out more often than you normally do. Or you bought things you don’t even need because it was just so easy to swipe and buy.

Having a credit card can really impact our spending habits negatively. Then, when we get the bill, we don’t want to pay for it. So, instead of paying it in full, we pay the minimum balance. What does that ultimately get us? More interest tacked on, costing you even more in the long run. It’s never an easy thing to see.

Let’s look at three ways your credit card is costing you.

1) Making Only Minimum Credit Card Payments

This is one mistake so many people make. They think it’s an easier way to pay off something, but it’s really not. In fact, it can make your credit score drop. Your credit score is usually based upon how much available debt you have. If you’ve maxed out your cards, then your score will drop big time. That also doesn’t include the additional interest that is added on.

2) Risk Making Late Payments

Just like with any other bill, you’ll have to make at least the minimum payment monthly. If you can’t or don’t make that payment, it won’t be good for you. You will most likely face a hefty late-payment fee. If you don’t pay within 60 days, you can be slapped with a 30% charge. Not to mention, your credit score will go down.

3)  Taking Out Cash Advances

Your credit card company may provide you with the option of taking out a cash advance. It can be good on the rough occasion you’re waiting to get paid. The problem is, this advance will cost you a lot. They can charge you an additional 5% or more than what you’re taking out. Plus, cash advances pay out much higher interest.

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More Young Americans Putting Off College than Ever Before

Written by adminNovember 1, 2019
Loans

Currently in the United States, 44 million Americans owe $1.56 trillion worth of student loan debt. This is a number that is set to continually rise and hit the $2 trillion mark in the next few years. Everyone knows that were at a crisis level with student debt, yet colleges don’t care. They continue raising tuition through the roof and is forcing many young millennials to think twice about going to college.

TD Ameritrade worked with The Harris Poll to take a look at the impact of the student loan crisis and how it was affecting students today. This amount of debt is doubled only in the last decade. This is the first time we’ve really seen this change to where debt is accumulating more rapidly than it ever has before. In a short amount of time.

The pull over 3000 students from the youngest two generations, Gen Z who is entering college for the first time, and younger millennials who are nearing graduation. The study was called the 2019 Young Americans & College Survey. Looked at finding out whether there’s been a major attitude shift towards going to college. Of course, the answer is yes, there’s been a massive shift.

We used to believe that when she graduated high school you went on to college. Going to college was necessary and it was expected that you do so. Not going to college equated to making much less money and being one of the poorest Americans living paycheck to paycheck. There was no understating the value of a college education.

The Massive College Shift

As the Great Recession hit the economy over the past decade, many millions of Americans found themselves without work. They thought would many people do when they graduate high school. They’re desperate to find work and felt that the only good, quality work out there required degrees. The problem is, colleges knew that people were desperate to make more money.

Many schools have been caught lying and making promises about job placement rates. They pushed ads into the American mainstream and it enticed millions of people to go back to school. When it was found that of the schools lied about their job placement rates to get more people in the door, that this meant that there are more people with outstanding student loan debt and no job to pay for it.

While this is happening, colleges are raking in billions and billions of dollars. They keep dramatically increasing the cost of tuition while siphoning off money from the government. It’s almost as if the entire education system decided to become crooked and value profit over anything else. The youngest generations are seeing this happen and are deciding not to stand for it.

Putting Off College

While college is still seen as a must after high school by most, it seems as if the shift is starting to take place. 25% of young students are deciding to put off going to college according to the survey. The main reason why this is happening? Cost. 1-in-5 don’t believe they’ll ever go to college. It’s not worth the investment for them.

Going to college is almost the equivalent of financing a brand-new car. You find yourself tens of thousands of dollars in debt and making payments, including paying attentional interest, for the next 10 to 20 years of their lives. This type of arrangement is hurting millions of lives, as many young adults are putting off making major life decisions, like getting married and having a baby. They simply cannot afford to do anything but live as cheaply as possible while paying off their student debt.

 “There are some students who are saying a four-year traditional degree may not be for me,” Dara Luber, TD Ameritrade’s Senior Manager of Retirement, told Yahoo Finance’s YFI AM on Tuesday. “There’s always going to be a need for those who go to trade schools. So, there could be a shift in how you’re approaching life after high school.”

The Study

This study found that 20% of all young millennial’s out there have over $50,000 worth of student loan debt. The students are also expected to be paying off this debt well past the age of 50. That shows that there are less people able to pay their debt and more were going into default.

“More students are seeing the need to not only go to college, but I think part of the increase in the debt is also the need or the feeling that you need to go on to go to grad school to achieve the right job,” Luber said.

“They [parents] understand what it is to have to pay back those loans, and how much it could impact not only for themselves, but for their students, future retirement savings, being able to buy their first home, get married, and have children. All those downstream impacts of having to pay back their student loans when they get out of college,” Luber said.

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Twitter Set to Block All Political Ads

Written by adminNovember 1, 2019
Politics

In what is being considered a bold move, Twitter CEO Jack Dorsey has announced that his site won’t accept money for political ads. While Facebook is facing scrutiny for allowing bought fake ads, Twitter is doing something different. Dorsey doesn’t feel as if politicians should be able to buy influence. Instead, they should earn it.

“We’ve made the decision to stop all political advertising on Twitter globally. We believe political message reach should be earned, not bought,” Dorsey tweeted. “A political message earns reach when people decide to follow an account or retweet. Paying for reach removes that decision, forcing highly optimized and targeted political messages on people. We believe this decision should not be compromised by money,” he added.

Twitter is leaving millions of dollars on the table by making this move. In 2018 alone, Twitter made around $3 million. Before the November 2020 election, politicians are expected to spend billions in ads. But to Dorsey and Twitter CFO Ned Segal, it’s not about money. They’re more focused on substance and having the candidates earn their stripes.

“This decision was based on principle, not money,” he said. This decision runs contrary to Facebook’s views on the matter. A lot of Silicon Valley’s scrutiny has come in how all these social media sites handle political ads.

Twitter and Facebook Have Different Philosophies

While Dorsey says a politician should earn their support, not buy it, Facebook feels differently. They know they have a lot of money to gain by allowing political ads. For Mark Zuckerberg, it’s all about free speech. How much should these companies interfere in what is being said? Who is to say what needs to be fact checked? And what is the bias of the people doing the checking?

“In a democracy, I don’t think it’s right for private companies to censor politicians or the news,” he said. Zuckerberg does have a great point. Even politicians should have the right to say whatever they want. It’s not up to them to fact check every point. Even on Twitter, everyone has the right to say whatever they want. But he may be doing what Twitter is doing soon.

In a speech in Washington D.C. earlier in October, Zuckerberg said, “Given the sensitivity around political ads, I’ve considered whether we should stop allowing them altogether. From a business perspective, the controversy certainly isn’t worth the small part of our business they make up. But political ads are an important part of voice — especially for local candidates, up-and-coming challengers, and advocacy groups that may not get much media attention otherwise. Banning political ads favors incumbents and whoever the media covers.”

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October Job Growth Blows Past Wall Street Expectations

Written by adminNovember 1, 2019
Real life

Wall Street didn’t have too many expectations in October. There were signs of the beginning of a recession and the GM strike had people worried. Economists estimated maybe a little growth, around 89,000. With a 42,000 job decline in the auto part manufacturing and another 20,000 being laid off, expectations weren’t too high.

As we woke up on November 1st, we were greeted with good news. The jobs report blew well past the dismal expectations. It’s a good indication that the economy is still humming along. Some of it might have to do with increased holiday hiring towards the latter part of October. This is the time of year when department and retail stores across the country bring on more help.

This comes with even better news. The average hourly earnings rose a bit as well. They’re up 3% from this time last year. This report pretty much alleviates any fears that the economy was on the brink of a recession. Earlier in the summer, there were rumors that we might be hurdling towards a recession.

“As long as consumers feel confident, the economy should stay on track,” said Tony Bedikian, managing director of Citizens Bank. And consumers do feel fairly confident going into the holiday season. More people have jobs today than we’ve seen in decades. This bodes well for the president as we enter the first phases of the impeachment inquiry.

President Trump tweeted: “Wow, a blowout JOBS number just out, adjusted for revisions and the General Motors strike, 303,000. This is far greater than expectations. USA ROCKS!”

Job Growth and Politics

If these type of job numbers continue throughout the next year, it should help the president big time. The economy is usually the number one issue for voters. If it’s humming along, then Trump should be able to keep his support. The Democrats, on the other hand, give credit to Obama only for all this growth. But Obama never saw these types of numbers.

While Obama might’ve helped get the ball rolling, it didn’t really pick up speed until Trump was elected. His election alone increased a lot of economic confidence. In fact, when many predicted the stock market would crash, it soared. Promises of lower taxes and cut regulations, both of which Trump accomplished, only helps to inspire economic growth.

Despite the good numbers so far, they could be better. The trade war with China and increased tariffs have hurt us. Farmers and agriculture in particular are struggling. Tariffs are essentially an additional tax, making things more expensive. This added expense is also why economists feared an economic and job downturn. So far, it hasn’t happened yet.

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New Survey Finds Younger Generations Having a More Difficult Time Getting a Credit Card

Written by adminOctober 31, 2019
Credit & Debt

A new survey conducted by Bankrate.com has revealed that as many as 58% of all millennials who have applied for a credit card has been denied. Credit cards can be an important tool if used correctly to help build credit. The problem is, you can’t get one if you don’t at least pass a basic minimum credit score, which is exactly the problem millennials are facing.

These numbers are compared to 53% of Generation X and 27% of all baby boomers that have also been denied. It’s astonishing to see that more millennials are being denied than Gen-Xers, but that discrepancy mostly has to do with very few of that generation out in the working market and applying for credit cards. The number might increase over the next few years.

“An unintended consequence of the CARD Act, which went into effect in 2010, is that it has become much harder for people in their early and mid-twenties to obtain credit,” Bankrate credit card industry analyst Ted Rossman said in the report. “Establishing credit is a lot like getting started in your career. Everyone wants you to have experience, but it’s hard to get that first experience,” Rossman added.

Most Credit Card Rejections

Most people with bad credit are often denied car loans and credit cards. Without a clear history of on-time payments and proper history using credit, no one will trust you. It can take several years to build up your credit to the appropriate levels needed, but if you have lots of debt, that can complicate matters. Then you’re running around trying to make a lot of payments to keep your head above water.

Any small mistakes can really hurt your credit score. This is why knowing the basics behind credit will help prevent you from making those mistakes. The best advice is to get a credit card for beginners. You might have to pre-pay to use it. The interest rates won’t be that good, but it’s a good way to get started.

One you develop a good history, your credit score will start to rise. Then you will be able to take on other credit cards to continue the process. Have a few credit cards and only using a little bit of them each month. That way you can pay them off completely is the smart way to do it. Whatever you do, refrain from maxing out your cards. Prevent yourself from being able to pay the back reliably each month.

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