The executive director of Amistad America Inc., a New Haven-based non-profit, asserts that all money it has received from the state has been used appropriately. Amistad America owns and operates the Freedom Schooner Amistad, and recently lost its non-profit status after falling behind in filing federal tax returns.
Economist Tyler Cowen believes that income inequality in America is only increasing. His new book is called <em>Average Is Over: Powering America Beyond the Age of the Great Stagnation.</em>
Credit Szasz-Fabian Ilka Erika / iStockphoto.com
Tyler Cowen is a professor of economics at George Mason University. He is also the author of <em><em>The Great Stagnation</em>, An Economist Gets Lunch, Good and Plenty</em> and <em>Create Your Own Economy. </em>He blogs at <a href="http://marginalrevolution.com/">Marginal Revolution</a>.<em></em>
Economist Tyler Cowen has some advice for what to do about America's income inequality: Get used to it. In his latest book, Average Is Over, Cowen lays out his prediction for where the U.S. economy is heading, like it or not:
"I think we'll see a thinning out of the middle class," he tells NPR's Steve Inskeep. "We'll see a lot of individuals rising up to much greater wealth. And we'll also see more individuals clustering in a kind of lower-middle class existence."
Originally published on Wed September 11, 2013 5:15 pm
When the global financial system started to collapse five years ago, leaders from the Treasury Department, Congress and the Federal Reserve jumped up and started running.
Like men on a burning wooden bridge, they raced along, making crazy-fast decisions. They seized Fannie Mae and Freddie Mac, bailed out big banks, saved automakers, slashed interest rates and funded a massive infrastructure-building project to stimulate growth.
It’s been just over a year since Connecticut began to create an ecosystem for entrepreneurs. Dubbed CT Next, the system has launched four hubs, hosted many events, signed up hundreds of nascent companies and spent almost five million dollars. But as it goes into its second year it has changed direction and some are left wondering if enough has been achieved.
Angel investors pump a lot of cash into start-up businesses in this country - by some accounts about $23 billion a year. But some say they'll back off from looking for new opportunities if the Securities and Exchange Commission implements new rules on funding -- rules that are due to go into effect September 10. The irony is that the rules were supposed to make it easier for start-ups to find seed money.
It's tough to know how many workers from Dunkin Donuts, Subway, McDonalds and other fast food outlets in Hartford walked off the job Thursday. But organizers of the one-day strike say they're happy the city has joined what's becoming a national movement.
Hartford's Downtown gained another dining option this week, and one that's been a long time coming. For the two institutions behind it, fresh food and good coffee are just the starters. WNPR's J Holt has more.
When the Downtown branch of the Hartford Public Library underwent a major renovation in the early two thousands, a three story tall, glass walled atrium space was built right up front, with the intention of it becoming a cafe.
In an ongoing effort to create growth for mom and pop businesses in the state, the U.S. Small Business Administration is making capital available to Connecticut Economic Development Fund, a non-profit offering micro-loans. WNPR’s Sujata Srinivasan has more.
James Dufour owns Connecticut Carpentry in Meriden. He makes cabinets for hospitals and employs seven people. Up until the start of the financial crisis, the nearly 30-year-old business had little trouble accessing bank loans.
Connecticut-based ESPN has suspended its TV broadcasts in most of Europe, the Middle East and Africa, and US sports fans living abroad say they’re having a tough time adjusting to the change.
Peter Alegi says Americans overseas love to argue about 2 things: US politics and US sports. Alegi – a self-described baseball nut - is a New Haven native who has lived for decades in Italy. Speaking from the town of Todi, Italy, he says ex-pats will sorely miss TV broadcasts of major league baseball, the NBA and NFL.
What’s up with Patch? That question seems to be on the lips of many small business owners who rely on the hyperlocal news sites to get the word out about sales, events and promotions. As Patch’s corporate parent AOL threatens closures and consolidations, some are wondering if it will ever be the same again.
With law school grads facing a tough job market, some entrepreneurial attorneys are trying out hybrid businesses. One Connecticut attorney has opened a shop that combines his passion for the law with his skill as a barber.
Donald Howard says he first got the hybrid-business idea working as a paralegal for a personal injury attorney who doubled as a sports agent. Then he saw the concept again on a reality television show.
"It was a guy in California who did Legal Grind, a coffee house and a law office."
Connecticut is known for its aerospace industry, and it also has some pretty nice farming country. The two might not seem to have a lot in common, but new study hopes to use waste from one to power the other.
It's a common story for a personal passion to lead to a business opportunity. For one Connecticut entrepreneur it was the convergence of two passions -- baseball and art -- that launched her on the road to success.
"Well, I grew up listening to the Red Sox on the radio, and on the only station that we had on our TV, you know, back in the Seventies. And my dad was a baseball coach and an umpire, so we just grew up with the Red Sox as sort of part of the family."
<em>The Washington Post</em> is now in its seventh straight year of declining revenues, says the paper's chairman, Donald Graham. Rather than continue to watch the paper struggle, Graham and Publisher Katharine Weymouth decided to look for a buyer.
Credit Jonathan Ernst / Reuters /Landov
Brian Tierney, shortly after buying <em>The Philadelphia Inquirer</em> and <em>Philadelphia Daily News </em>in 2006. The papers, struggling with debt, have since changed hands twice.
Donald Graham, chairman of The Washington Post Co., is the son and grandson of its leaders for the past 80 years. And along with his niece, publisher Katharine Weymouth, Graham admitted in a video on The Post's website that the family simply didn't have the answers to questions about the paper's future.
Originally published on Tue August 6, 2013 4:33 pm
The Department of Justice announced Tuesday that it was suing Bank of America for allegedly lying to investors about the riskiness of about $850 million worth of mortgage-backed securities back in 2008.
The unemployment rate only includes people who don't have jobs and are looking for work. A much larger swath of people — about 36 percent of U.S. adults — don't have jobs and aren't looking for work at all. That figure is higher than it's been in decades (and, conversely, the share of adults in the labor force — shown in the graph above — is lower than it's been in decades).
Here are four reasons why so many people are leaving the labor force.
Social entrepreneurship is becoming a buzzword with more people looking to solve social problems through the private market. In the conclusion of a three-part series on corporate social responsibility, WNPR’s Sujata Srinivasan looks at how entrepreneurs and policymakers are growing this sector.
Prosecutors said a large volume of evidence including electronic messages, court-ordered wiretaps and consensual recordings is stacked against a Connecticut-based hedge fund that pleaded not guilty Friday to criminal charges accusing it of letting insider trading flourish for more than a decade.
Assistant U.S. Attorney Antonia Apps told a federal judge in Manhattan that investigators had “voluminous” evidence against SAC Capital Advisors, a Stamford, Conn.-based firm owned by billionaire Steven A. Cohen.
Young teens and “tweens” are plenty comfortable with technology and networking - and they use iPhones to explore brands they’re interested in, and what they’d like to buy. But they can’t be manipulated easily - experts say they’re more independent and fickle than previous generations.
The Tribune Company, owner of the Hartford Courant and Fox Connecticut, made an announcement yesterday that it’s going to split its broadcast and publishing divisions. It’s just another chapter in the ongoing saga of “the future of the newspaper industry.” Coming up, industry analyst Ken Doctor gives us his prognosis on our nation’s oldest continuously published newspaper.
Also, we’ll check in on the progress of the Department of Social Services and their technologically deficient agency. They opened a new call center on Monday, and got 11,ooo calls! And, the measure of America says Connecticut is the best state to live in. We agree, but we’ll find out why we came out on top.
You might have seen this: another one of those studies just came out that paints a pretty negative picture of Connecticut. CNBC ranked it’s “top states for business” - and Connecticut placed 45th. The study measures things like the “cost of doing business” and “business-friendliness.” It’s the sort of study that gets pointed to when we hear complaints about job creation.
The Tribune Company made an announcement yesterday that it’s going to split its broadcast and publishing divisions. It’s just another chapter in the ongoing saga of “the future of the newspaper industry.” The Tribune has owned the Hartford Courant since 2000, and more recently merged the paper with the FOX News affiliate TV station. So what now? Industry analyst Ken Doctor joins us.
When Connecticut passed a law two years ago that required employers to provide paid sick leave it was the first state in the nation to do so. And so putting that law into practice has been something of an experiment. This year, businesses asked for some changes to make the law easier to comply with. But as WNPR's Harriet Jones reports, they didn't get them.
When you hear the sound of sirens in one of Eastern Connecticut's towns, it's a fair bet that the vehicle involved belongs to American Ambulance Service, based in Norwich.